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FLEETCOR TECHNOLOGIES INC (FLT) Stock Fundamental Analysis

NYSE:FLT - New York Stock Exchange, Inc. - US3390411052 - Common Stock - Currency: USD

303.26  -2.54 (-0.83%)

After market: 303.26 0 (0%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to FLT. FLT was compared to 101 industry peers in the Financial Services industry. While FLT has a great profitability rating, there are some minor concerns on its financial health. FLT has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

FLT had positive earnings in the past year.
FLT had a positive operating cash flow in the past year.
Each year in the past 5 years FLT has been profitable.
FLT had a positive operating cash flow in each of the past 5 years.
FLT Yearly Net Income VS EBIT VS OCF VS FCFFLT Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B

1.2 Ratios

The Return On Assets of FLT (6.48%) is better than 83.33% of its industry peers.
FLT has a better Return On Equity (29.91%) than 90.20% of its industry peers.
FLT has a better Return On Invested Capital (12.35%) than 92.16% of its industry peers.
The Average Return On Invested Capital over the past 3 years for FLT is in line with the industry average of 11.84%.
Industry RankSector Rank
ROA 6.48%
ROE 29.91%
ROIC 12.35%
ROA(3y)6.51%
ROA(5y)6.62%
ROE(3y)32.25%
ROE(5y)28.37%
ROIC(3y)12.38%
ROIC(5y)11.79%
FLT Yearly ROA, ROE, ROICFLT Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 10 20 30

1.3 Margins

With a decent Profit Margin value of 26.13%, FLT is doing good in the industry, outperforming 77.45% of the companies in the same industry.
FLT's Profit Margin has declined in the last couple of years.
The Operating Margin of FLT (44.09%) is better than 85.29% of its industry peers.
FLT's Operating Margin has been stable in the last couple of years.
FLT's Gross Margin of 78.18% is amongst the best of the industry. FLT outperforms 86.27% of its industry peers.
In the last couple of years the Gross Margin of FLT has declined.
Industry RankSector Rank
OM 44.09%
PM (TTM) 26.13%
GM 78.18%
OM growth 3Y2.7%
OM growth 5Y-0.33%
PM growth 3Y-3.94%
PM growth 5Y-4.76%
GM growth 3YN/A
GM growth 5Y-4.8%
FLT Yearly Profit, Operating, Gross MarginsFLT Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 20 40 60 80

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5

2. Health

2.1 Basic Checks

FLT has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
FLT has less shares outstanding than it did 1 year ago.
FLT has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, FLT has an improved debt to assets ratio.
FLT Yearly Shares OutstandingFLT Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M
FLT Yearly Total Debt VS Total AssetsFLT Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 5B 10B 15B

2.2 Solvency

FLT has an Altman-Z score of 2.49. This is not the best score and indicates that FLT is in the grey zone with still only limited risk for bankruptcy at the moment.
The Altman-Z score of FLT (2.49) is better than 83.33% of its industry peers.
The Debt to FCF ratio of FLT is 4.13, which is a neutral value as it means it would take FLT, 4.13 years of fcf income to pay off all of its debts.
FLT has a better Debt to FCF ratio (4.13) than 66.67% of its industry peers.
A Debt/Equity ratio of 1.80 is on the high side and indicates that FLT has dependencies on debt financing.
FLT has a Debt to Equity ratio of 1.80. This is in the lower half of the industry: FLT underperforms 70.59% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.8
Debt/FCF 4.13
Altman-Z 2.49
ROIC/WACC1.57
WACC7.88%
FLT Yearly LT Debt VS Equity VS FCFFLT Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B 4B

2.3 Liquidity

A Current Ratio of 1.04 indicates that FLT should not have too much problems paying its short term obligations.
FLT's Current ratio of 1.04 is in line compared to the rest of the industry. FLT outperforms 43.14% of its industry peers.
FLT has a Quick Ratio of 1.04. This is a normal value and indicates that FLT is financially healthy and should not expect problems in meeting its short term obligations.
With a Quick ratio value of 1.04, FLT perfoms like the industry average, outperforming 47.06% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.04
Quick Ratio 1.04
FLT Yearly Current Assets VS Current LiabilitesFLT Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B

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6

3. Growth

3.1 Past

FLT shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 5.09%.
The Earnings Per Share has been growing by 9.95% on average over the past years. This is quite good.
Looking at the last year, FLT shows a quite strong growth in Revenue. The Revenue has grown by 9.65% in the last year.
Measured over the past years, FLT shows a quite strong growth in Revenue. The Revenue has been growing by 9.08% on average per year.
EPS 1Y (TTM)5.09%
EPS 3Y15.12%
EPS 5Y9.95%
EPS Q2Q%9.9%
Revenue 1Y (TTM)9.65%
Revenue growth 3Y16.3%
Revenue growth 5Y9.08%
Sales Q2Q%6.08%

3.2 Future

Based on estimates for the next years, FLT will show a quite strong growth in Earnings Per Share. The EPS will grow by 15.58% on average per year.
Based on estimates for the next years, FLT will show a quite strong growth in Revenue. The Revenue will grow by 8.73% on average per year.
EPS Next Y15.77%
EPS Next 2Y16.02%
EPS Next 3Y15.58%
EPS Next 5YN/A
Revenue Next Year7.65%
Revenue Next 2Y8.57%
Revenue Next 3Y8.73%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
FLT Yearly Revenue VS EstimatesFLT Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1B 2B 3B 4B
FLT Yearly EPS VS EstimatesFLT Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 5 10 15 20 25

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5

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 17.92, the valuation of FLT can be described as rather expensive.
The rest of the industry has a similar Price/Earnings ratio as FLT.
FLT's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.85.
FLT is valuated correctly with a Price/Forward Earnings ratio of 15.48.
The rest of the industry has a similar Price/Forward Earnings ratio as FLT.
When comparing the Price/Forward Earnings ratio of FLT to the average of the S&P500 Index (20.77), we can say FLT is valued slightly cheaper.
Industry RankSector Rank
PE 17.92
Fwd PE 15.48
FLT Price Earnings VS Forward Price EarningsFLT Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, FLT is valued a bit cheaper than 69.61% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of FLT indicates a somewhat cheap valuation: FLT is cheaper than 70.59% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 13.4
EV/EBITDA 12.95
FLT Per share dataFLT EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 -20 40 -40 -60

4.3 Compensation for Growth

FLT's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
FLT has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as FLT's earnings are expected to grow with 15.58% in the coming years.
PEG (NY)1.14
PEG (5Y)1.8
EPS Next 2Y16.02%
EPS Next 3Y15.58%

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0

5. Dividend

5.1 Amount

FLT does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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FLEETCOR TECHNOLOGIES INC

NYSE:FLT (3/22/2024, 8:04:00 PM)

After market: 303.26 0 (0%)

303.26

-2.54 (-0.83%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryFinancial Services
Earnings (Last)02-07 2024-02-07/amc
Earnings (Next)05-01 2024-05-01/amc
Inst Owners0.34%
Inst Owner Change0%
Ins Owners6.57%
Ins Owner Change0%
Market Cap21.90B
Analysts78.26
Price Target321.23 (5.93%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-1.49%
Min EPS beat(2)-1.84%
Max EPS beat(2)-1.14%
EPS beat(4)1
Avg EPS beat(4)-0.4%
Min EPS beat(4)-1.84%
Max EPS beat(4)1.9%
EPS beat(8)5
Avg EPS beat(8)1.35%
EPS beat(12)9
Avg EPS beat(12)1.82%
EPS beat(16)13
Avg EPS beat(16)2.59%
Revenue beat(2)0
Avg Revenue beat(2)-3.06%
Min Revenue beat(2)-4.34%
Max Revenue beat(2)-1.78%
Revenue beat(4)1
Avg Revenue beat(4)-1.4%
Min Revenue beat(4)-4.34%
Max Revenue beat(4)1.23%
Revenue beat(8)5
Avg Revenue beat(8)0.27%
Revenue beat(12)8
Avg Revenue beat(12)0.79%
Revenue beat(16)10
Avg Revenue beat(16)0.64%
PT rev (1m)0.43%
PT rev (3m)9.71%
EPS NQ rev (1m)-0.02%
EPS NQ rev (3m)-6.51%
EPS NY rev (1m)0.14%
EPS NY rev (3m)0.63%
Revenue NQ rev (1m)0.01%
Revenue NQ rev (3m)-3.92%
Revenue NY rev (1m)-1.39%
Revenue NY rev (3m)-1.22%
Valuation
Industry RankSector Rank
PE 17.92
Fwd PE 15.48
P/S 5.8
P/FCF 13.4
P/OCF 12.24
P/B 6.64
P/tB N/A
EV/EBITDA 12.95
EPS(TTM)16.92
EY5.58%
EPS(NY)19.59
Fwd EY6.46%
FCF(TTM)22.64
FCFY7.46%
OCF(TTM)24.78
OCFY8.17%
SpS52.3
BVpS45.68
TBVpS-62.27
PEG (NY)1.14
PEG (5Y)1.8
Profitability
Industry RankSector Rank
ROA 6.48%
ROE 29.91%
ROCE 19.08%
ROIC 12.35%
ROICexc 14.35%
ROICexgc 146.38%
OM 44.09%
PM (TTM) 26.13%
GM 78.18%
FCFM 43.28%
ROA(3y)6.51%
ROA(5y)6.62%
ROE(3y)32.25%
ROE(5y)28.37%
ROIC(3y)12.38%
ROIC(5y)11.79%
ROICexc(3y)14.89%
ROICexc(5y)14.05%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)17.46%
ROCE(5y)16.33%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3Y7.63%
ROICexc growth 5Y0.05%
OM growth 3Y2.7%
OM growth 5Y-0.33%
PM growth 3Y-3.94%
PM growth 5Y-4.76%
GM growth 3YN/A
GM growth 5Y-4.8%
F-Score7
Asset Turnover0.25
Health
Industry RankSector Rank
Debt/Equity 1.8
Debt/FCF 4.13
Debt/EBITDA 2.96
Cap/Depr 45.7%
Cap/Sales 4.09%
Interest Coverage 3.7
Cash Conversion 89.3%
Profit Quality 165.65%
Current Ratio 1.04
Quick Ratio 1.04
Altman-Z 2.49
F-Score7
WACC7.88%
ROIC/WACC1.57
Cap/Depr(3y)43.97%
Cap/Depr(5y)38.02%
Cap/Sales(3y)4.15%
Cap/Sales(5y)3.71%
Profit Quality(3y)119.4%
Profit Quality(5y)135.52%
High Growth Momentum
Growth
EPS 1Y (TTM)5.09%
EPS 3Y15.12%
EPS 5Y9.95%
EPS Q2Q%9.9%
EPS Next Y15.77%
EPS Next 2Y16.02%
EPS Next 3Y15.58%
EPS Next 5YN/A
Revenue 1Y (TTM)9.65%
Revenue growth 3Y16.3%
Revenue growth 5Y9.08%
Sales Q2Q%6.08%
Revenue Next Year7.65%
Revenue Next 2Y8.57%
Revenue Next 3Y8.73%
Revenue Next 5YN/A
EBIT growth 1Y14.53%
EBIT growth 3Y19.44%
EBIT growth 5Y8.72%
EBIT Next Year33.78%
EBIT Next 3Y17.84%
EBIT Next 5YN/A
FCF growth 1Y169.54%
FCF growth 3Y5.27%
FCF growth 5Y14.62%
OCF growth 1Y135.86%
OCF growth 3Y6.53%
OCF growth 5Y14.53%