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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

We assign a fundamental rating of 4 out of 10 to SP. SP was compared to 83 industry peers in the Commercial Services & Supplies industry. SP has a medium profitability rating, but doesn't score so well on its financial health evaluation. 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

SP has a Return On Assets of 2.65%. This is in the better half of the industry: SP outperforms 63.10% of its industry peers.
SP has a Return On Equity of 11.63%. This is in the better half of the industry: SP outperforms 73.81% of its industry peers.
With a decent Return On Invested Capital value of 8.70%, SP is doing good in the industry, outperforming 78.57% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for SP is below the industry average of 11.65%.
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

SP's Profit Margin of 1.68% is in line compared to the rest of the industry. SP outperforms 50.00% of its industry peers.
In the last couple of years the Profit Margin of SP has declined.
With a Operating Margin value of 5.43%, SP perfoms like the industry average, outperforming 51.19% of the companies in the same industry.
SP's Operating Margin has been stable in the last couple of years.
With a Gross Margin value of 14.26%, SP is not doing good in the industry: 76.19% of the companies in the same industry are doing better.
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

SP has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
SP has about the same amout of shares outstanding than it did 1 year ago.
The number of shares outstanding for SP has been reduced compared to 5 years ago.
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.
SP's Altman-Z score of 2.61 is in line compared to the rest of the industry. SP outperforms 59.52% of its industry peers.
SP has a debt to FCF ratio of 8.26. This is a slightly negative value and a sign of low solvency as SP would need 8.26 years to pay back of all of its debts.
SP's Debt to FCF ratio of 8.26 is in line compared 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.
SP's Debt to Equity ratio of 1.27 is on the low side compared to the rest of the industry. SP is outperformed by 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

A Current Ratio of 0.65 indicates that SP may have some problems paying 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

The Earnings Per Share has been growing slightly by 1.09% over the past year.
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%.
SP shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.95% yearly.
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

Based on estimates for the next years, SP will show a very strong growth in Earnings Per Share. The EPS will grow by 21.32% on average per year.
SP is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.17% yearly.
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

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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

SP is valuated rather expensively with a Price/Earnings ratio of 19.42.
Compared to the rest of the industry, the Price/Earnings ratio of SP indicates a somewhat cheap valuation: SP is cheaper than 71.43% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of SP to the average of the S&P500 Index (27.25), we can say SP is valued slightly 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.
SP's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 36.80.
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 10 20 30 40 50

4.2 Price Multiples

61.90% of the companies in the same industry are more expensive than SP, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, SP is valued a bit cheaper than 66.67% of the companies 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.
SP's earnings are expected to grow with 21.32% in the coming years. This may justify a more expensive valuation.
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%