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SP PLUS CORP (SP) Stock Fundamental Analysis

NASDAQ:SP - Nasdaq - US78469C1036 - Common Stock - Currency: USD

53.99  +0.02 (+0.04%)

After market: 53.99 0 (0%)

Fundamental Rating

4

SP gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 83 industry peers in the Commercial Services & Supplies industry. There are concerns on the financial health of SP while its profitability can be described as average. SP has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year SP was profitable.
In the past year SP had a positive cash flow from operations.
Of the past 5 years SP 4 years were profitable.
Each year in the past 5 years SP had a positive operating cash flow.
SP Yearly Net Income VS EBIT VS OCF VS FCFSP 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 0 50M -50M -100M -150M

1.2 Ratios

The Return On Assets of SP (2.65%) is better than 63.10% of its industry peers.
Looking at the Return On Equity, with a value of 11.63%, SP is in the better half of the industry, outperforming 73.81% of the companies in the same industry.
SP's Return On Invested Capital of 8.70% is fine compared to the rest of the industry. SP outperforms 78.57% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for SP is below the industry average of 11.67%.
The last Return On Invested Capital (8.70%) for SP is above the 3 year average (7.88%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 2.65%
ROE 11.63%
ROIC 8.7%
ROA(3y)3.19%
ROA(5y)-0.46%
ROE(3y)15.55%
ROE(5y)-6.94%
ROIC(3y)7.88%
ROIC(5y)6.28%
SP Yearly ROA, ROE, ROICSP Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -20 -40 -60 -80

1.3 Margins

With a Profit Margin value of 1.68%, SP perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
SP's Profit Margin has declined in the last couple of years.
SP has a Operating Margin (5.43%) which is comparable to the rest of the industry.
SP's Operating Margin has been stable in the last couple of years.
Looking at the Gross Margin, with a value of 14.26%, SP is doing worse than 76.19% of the companies in the same industry.
SP's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 5.43%
PM (TTM) 1.68%
GM 14.26%
OM growth 3Y40.67%
OM growth 5Y-1.13%
PM growth 3YN/A
PM growth 5Y-13.59%
GM growth 3Y6.65%
GM growth 5Y2.57%
SP Yearly Profit, Operating, Gross MarginsSP Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 -10

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3

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so SP is still creating some value.
SP has about the same amout of shares outstanding than it did 1 year ago.
Compared to 5 years ago, SP has less shares outstanding
SP has a better debt/assets ratio than last year.
SP Yearly Shares OutstandingSP Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 5M 10M 15M 20M
SP Yearly Total Debt VS Total AssetsSP Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B

2.2 Solvency

An Altman-Z score of 2.61 indicates that SP is not a great score, but indicates only limited risk for bankruptcy at the moment.
The Altman-Z score of SP (2.61) is comparable to the rest of the industry.
The Debt to FCF ratio of SP is 8.26, which is on the high side as it means it would take SP, 8.26 years of fcf income to pay off all of its debts.
SP has a Debt to FCF ratio of 8.26. This is comparable to the rest of the industry: SP outperforms 53.57% of its industry peers.
A Debt/Equity ratio of 1.27 is on the high side and indicates that SP has dependencies on debt financing.
The Debt to Equity ratio of SP (1.27) is worse than 71.43% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.27
Debt/FCF 8.26
Altman-Z 2.61
ROIC/WACC1.03
WACC8.49%
SP Yearly LT Debt VS Equity VS FCFSP Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M

2.3 Liquidity

SP has a Current Ratio of 0.65. This is a bad value and indicates that SP is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of SP (0.65) is worse than 90.48% of its industry peers.
A Quick Ratio of 0.65 indicates that SP may have some problems paying its short term obligations.
SP has a worse Quick ratio (0.65) than 86.90% of its industry peers.
Industry RankSector Rank
Current Ratio 0.65
Quick Ratio 0.65
SP Yearly Current Assets VS Current LiabilitesSP Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M

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5

3. Growth

3.1 Past

SP shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 1.09%.
SP shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 3.37% yearly.
SP shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 11.04%.
Measured over the past years, SP shows a small growth in Revenue. The Revenue has been growing by 3.95% on average per year.
EPS 1Y (TTM)1.09%
EPS 3Y66.11%
EPS 5Y3.37%
EPS Q2Q%5.17%
Revenue 1Y (TTM)11.04%
Revenue growth 3Y17.92%
Revenue growth 5Y3.95%
Sales Q2Q%2.78%

3.2 Future

SP is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 21.32% yearly.
Based on estimates for the next years, SP will show a small growth in Revenue. The Revenue will grow by 6.17% on average per year.
EPS Next Y25.1%
EPS Next 2Y21.32%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year5.93%
Revenue Next 2Y6.17%
Revenue Next 3YN/A
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 accelerating: in the next years the growth will be better than in the last years.
SP Yearly Revenue VS EstimatesSP Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B
SP Yearly EPS VS EstimatesSP Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1 2 3 4

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6

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 19.42, the valuation of SP can be described as rather expensive.
SP's Price/Earnings ratio is a bit cheaper when compared to the industry. SP is cheaper than 71.43% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 26.98, SP is valued a bit cheaper.
Based on the Price/Forward Earnings ratio of 13.34, the valuation of SP can be described as correct.
Based on the Price/Forward Earnings ratio, SP is valued a bit cheaper than the industry average as 77.38% of the companies are valued more expensively.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.49, SP is valued a bit cheaper.
Industry RankSector Rank
PE 19.42
Fwd PE 13.34
SP Price Earnings VS Forward Price EarningsSP Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, SP is valued a bit cheaper than 61.90% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of SP indicates a somewhat cheap valuation: SP is cheaper than 66.67% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 25.21
EV/EBITDA 10.38
SP Per share dataSP EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60 80

4.3 Compensation for Growth

SP's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as SP's earnings are expected to grow with 21.32% in the coming years.
PEG (NY)0.77
PEG (5Y)5.76
EPS Next 2Y21.32%
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

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

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SP PLUS CORP

NASDAQ:SP (5/15/2024, 8:09:40 PM)

After market: 53.99 0 (0%)

53.99

+0.02 (+0.04%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCommercial & Professional Services
GICS IndustryCommercial Services & Supplies
Earnings (Last)05-01 2024-05-01/amc
Earnings (Next)07-31 2024-07-31/amc
Inst Owners8.01%
Inst Owner Change0%
Ins Owners10.72%
Ins Owner Change0%
Market Cap1.07B
Analysts42
Price Target65.28 (20.91%)
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)-21.54%
Min EPS beat(2)-31.47%
Max EPS beat(2)-11.61%
EPS beat(4)2
Avg EPS beat(4)-6.76%
Min EPS beat(4)-31.47%
Max EPS beat(4)10.96%
EPS beat(8)4
Avg EPS beat(8)-3.63%
EPS beat(12)7
Avg EPS beat(12)10.24%
EPS beat(16)9
Avg EPS beat(16)399.76%
Revenue beat(2)0
Avg Revenue beat(2)-6.78%
Min Revenue beat(2)-7.51%
Max Revenue beat(2)-6.05%
Revenue beat(4)2
Avg Revenue beat(4)-3.1%
Min Revenue beat(4)-7.51%
Max Revenue beat(4)1%
Revenue beat(8)5
Avg Revenue beat(8)35.21%
Revenue beat(12)9
Avg Revenue beat(12)58.57%
Revenue beat(16)13
Avg Revenue beat(16)63.41%
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)-9.88%
EPS NQ rev (3m)-15.12%
EPS NY rev (1m)0%
EPS NY rev (3m)-6.18%
Revenue NQ rev (1m)-5.06%
Revenue NQ rev (3m)-5.46%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.73%
Valuation
Industry RankSector Rank
PE 19.42
Fwd PE 13.34
P/S 0.59
P/FCF 25.21
P/OCF 17.05
P/B 4.1
P/tB N/A
EV/EBITDA 10.38
EPS(TTM)2.78
EY5.15%
EPS(NY)4.05
Fwd EY7.5%
FCF(TTM)2.14
FCFY3.97%
OCF(TTM)3.17
OCFY5.87%
SpS91.36
BVpS13.16
TBVpS-17.2
PEG (NY)0.77
PEG (5Y)5.76
Profitability
Industry RankSector Rank
ROA 2.65%
ROE 11.63%
ROCE 12.04%
ROIC 8.7%
ROICexc 8.9%
ROICexgc 35.96%
OM 5.43%
PM (TTM) 1.68%
GM 14.26%
FCFM 2.34%
ROA(3y)3.19%
ROA(5y)-0.46%
ROE(3y)15.55%
ROE(5y)-6.94%
ROIC(3y)7.88%
ROIC(5y)6.28%
ROICexc(3y)8.04%
ROICexc(5y)6.41%
ROICexgc(3y)35.7%
ROICexgc(5y)26.6%
ROCE(3y)10.9%
ROCE(5y)8.69%
ROICexcg growth 3Y72.93%
ROICexcg growth 5Y-37.11%
ROICexc growth 3Y66.63%
ROICexc growth 5Y2.52%
OM growth 3Y40.67%
OM growth 5Y-1.13%
PM growth 3YN/A
PM growth 5Y-13.59%
GM growth 3Y6.65%
GM growth 5Y2.57%
F-Score5
Asset Turnover1.58
Health
Industry RankSector Rank
Debt/Equity 1.27
Debt/FCF 8.26
Debt/EBITDA 2.46
Cap/Depr 55.31%
Cap/Sales 1.12%
Interest Coverage 3.51
Cash Conversion 46.44%
Profit Quality 139.93%
Current Ratio 0.65
Quick Ratio 0.65
Altman-Z 2.61
F-Score5
WACC8.49%
ROIC/WACC1.03
Cap/Depr(3y)59.11%
Cap/Depr(5y)51.71%
Cap/Sales(3y)1.18%
Cap/Sales(5y)1.06%
Profit Quality(3y)134.26%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)1.09%
EPS 3Y66.11%
EPS 5Y3.37%
EPS Q2Q%5.17%
EPS Next Y25.1%
EPS Next 2Y21.32%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)11.04%
Revenue growth 3Y17.92%
Revenue growth 5Y3.95%
Sales Q2Q%2.78%
Revenue Next Year5.93%
Revenue Next 2Y6.17%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y9.96%
EBIT growth 3Y65.88%
EBIT growth 5Y2.77%
EBIT Next Year48.85%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-40.78%
FCF growth 3Y5.61%
FCF growth 5Y-10.8%
OCF growth 1Y-22.4%
OCF growth 3Y11.55%
OCF growth 5Y-4.68%