$2 B

BGS Mkt cap, 14-Jun-2018

$431.7 M

B&G Foods Revenue Q1, 2018
B&G Foods Gross profit (Q1, 2018)103.4 M
B&G Foods Gross profit margin (Q1, 2018), %23.9%
B&G Foods Net income (Q1, 2018)20.5 M
B&G Foods EBIT (Q1, 2018)56.2 M
B&G Foods Cash, 31-Mar-2018118.1 M
B&G Foods EV3.9 B

B&G Foods Financials

B&G Foods Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

725 m848 m342.3 m966.4 m1.7 b

Revenue growth, %

17%(60%)182%

Cost of goods sold

482.1 m600.2 m1.2 b

Gross profit

242.9 m247.8 m462.2 m

Gross profit Margin, %

34%29%28%

General and administrative expense

205.2 m

Operating expense total

205.2 m

Depreciation and amortization

17.6 m

EBIT

154 m116.1 m172.4 m239.4 m

EBIT margin, %

21%14%18%14%

Interest expense

41.8 m46.6 m91.8 m

Pre tax profit

80.9 m63.8 m

Income tax expense

28.5 m22.8 m(69.4 m)

Net Income

52.3 m41 m69.1 m69.1 m217.5 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q3, 2015Q1, 2016Q2, 2015Q3, 2016Q1, 2016Q2, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Revenue

181.4 m198.1 m202.9 m209 m213.3 m217.1 m193.6 m318.2 m353 m306.4 m417.9 m368.1 m408.4 m431.7 m

Cost of goods sold

120.1 m133.5 m139.9 m145.9 m141.7 m149.7 m131.6 m202.8 m237.1 m196.7 m291.1 m257.1 m285.1 m328.4 m

Gross profit

61.3 m64.7 m63 m63.1 m71.6 m67.4 m62 m115.4 m115.9 m109.7 m126.8 m111 m123.3 m103.4 m

Gross profit Margin, %

34%33%31%30%34%31%32%36%33%36%30%30%30%24%

General and administrative expense

21.3 m22.6 m25.3 m21.2 m27.3 m22.8 m19.2 m42.5 m39.6 m33.9 m53.6 m49.6 m42.6 m

Operating expense total

21.3 m22.6 m25.3 m21.2 m27.3 m22.8 m19.2 m42.5 m39.6 m33.9 m53.6 m49.6 m42.6 m

Depreciation and amortization

4.6 m

EBIT

37.6 m38.8 m42.6 m4.3 m41.6 m41.9 m40.1 m69.7 m72.9 m67.1 m68.7 m57.2 m76 m56.2 m

EBIT margin, %

21%20%21%2%19%19%21%22%21%22%16%16%19%13%

Interest expense

11.1 m11.1 m11.8 m11.6 m11.3 m11.5 m11.1 m18 m19.1 m18.4 m19.6 m22 m28.3 m

Pre tax profit

23.7 m27.7 m30.3 m29.1 m51.6 m49 m51.1 m34.9 m27.1 m

Income tax expense

8.4 m9.9 m8.9 m(2.8 m)10.5 m10.8 m10.3 m19.2 m19.6 m18.8 m18.3 m12.9 m19.8 m6.6 m

Net Income

15.4 m17.8 m16.1 m(4.4 m)19.8 m19.6 m18.7 m32.4 m33.2 m30.3 m32.8 m22.1 m32.7 m20.5 m

B&G Foods Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

4.1 m1.5 m5.2 m28.8 m206.5 m

Accounts Receivable

Inventories

101.3 m106.6 m356.6 m501.8 m

Current Assets

181.7 m196.5 m463.2 m549.8 m886.6 m

PP&E

110.4 m116.2 m163.6 m245.3 m

Goodwill

319.3 m370.4 m473.1 m614.3 m649.3 m

Total Assets

1.5 b1.6 b2.6 b3 b3.6 b

Accounts Payable

42.6 m38.1 m98 m122.4 m

Dividends Payable

17.6 m18.2 m20.3 m30.9 m30.9 m

Short-term debt

26.3 m18.8 m33.8 m10.5 m

Current Liabilities

105.7 m92.7 m134.9 m205.7 m201.5 m

Long-term debt

844.6 m1 b1.7 b1.7 b2.2 b

Total Debt

870.9 m1 b1.8 b1.7 b2.2 b

Total Liabilities

2.3 b2.7 b

Additional Paid-in Capital

183.1 m110.3 m162.6 m387.7 m266.8 m

Retained Earnings

197.2 m238.1 m307.2 m416.7 m634.1 m

Total Equity

378.4 m338 m457.7 m785.7 m880.8 m

Debt to Equity Ratio

2.3 x3 x3.8 x2.2 x

Debt to Assets Ratio

0.6 x0.6 x0.7 x0.6 x

Financial Leverage

3.9 x4.9 x5.6 x3.9 x4 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q3, 2015Q1, 2016Q2, 2015Q3, 2016Q1, 2016Q2, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Cash

12.3 m17 m4 m6 m45.9 m23.7 m98.5 m240.6 m65.2 m107.6 m31.8 m51.7 m22.6 m118.1 m

Accounts Receivable

56.9 m55.4 m58.4 m68.4 m63.4 m55.8 m50.4 m90.6 m72.6 m71.2 m148.3 m125.2 m160.8 m

Inventories

110 m103.5 m119.7 m132.9 m133.2 m107 m119.1 m341.3 m260.5 m262.7 m359.8 m420.4 m487.4 m455.4 m

Current Assets

192.8 m185.4 m204.8 m232.1 m258.2 m207.6 m289.6 m754.9 m462 m486.8 m573.2 m631.3 m724.5 m767.8 m

PP&E

248.6 m

Goodwill

296.9 m320.3 m372 m370.1 m388 m370.5 m370.6 m474 m473.1 m472.5 m615.8 m615.8 m615.8 m650.6 m

Total Assets

1.4 b1.5 b1.7 b1.7 b1.8 b1.7 b1.7 b2.8 b2.5 b2.6 b3.1 b3.1 b3.2 b3.4 b

Accounts Payable

25.4 m29.9 m42.6 m49.7 m34.2 m26.3 m30.8 m97.3 m41.8 m38.6 m76.7 m93.7 m111.3 m

Dividends Payable

16.9 m18.2 m18.2 m18.2 m20.3 m18.3 m19.7 m27.9 m26.3 m26.3 m30.9 m30.9 m31 m

Short-term debt

48.8 m22.5 m45 m20.6 m24.4 m20.6 m22.5 m10.5 m33.8 m1.1 m10.5 m10.5 m10.5 m

Current Liabilities

118.6 m94.6 m124.9 m116.2 m105.9 m90.7 m88.8 m184.4 m111.6 m99.1 m165.2 m169.6 m223.7 m203.2 m

Long-term debt

815.8 m852.2 m1 b1 b954.5 m1 b961.9 m1.5 b1.5 b1.5 b1.8 b1.8 b1.9 b2.1 b

Total Debt

864.6 m874.7 m1 b1 b978.9 m1 b984.4 m1.5 b1.6 b1.5 b1.8 b1.8 b1.9 b2.1 b

Total Liabilities

1.1 b1.1 b1.3 b1.3 b1.3 b1.3 b1.3 b2 b1.9 b1.9 b2.3 b2.3 b2.4 b2.6 b

Additional Paid-in Capital

180 m163.4 m146.4 m128.5 m180.7 m92 m199.8 m417.2 m288.3 m264 m356 m327.1 m297.3 m234.8 m

Retained Earnings

178.4 m215 m231.1 m226.7 m296.3 m257.7 m276.5 m403.1 m340.4 m370.7 m449.4 m471.5 m504.2 m654.7 m

Total Equity

348.2 m376.5 m375.6 m353.2 m466.7 m339.3 m466 m804.8 m618.9 m622.5 m791 m787.7 m791.4 m872.6 m

Debt to Equity Ratio

2.4 x

Debt to Assets Ratio

0.6 x

Financial Leverage

4.1 x3.9 x4.5 x4.8 x3.8 x4.9 x3.7 x3.5 x4.1 x4.1 x3.9 x4 x4.1 x3.9 x

B&G Foods Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

52.3 m41 m69.1 m109.4 m217.5 m

Depreciation and Amortization

9.9 m12.7 m28.7 m37.3 m49.2 m

Accounts Receivable

(14 m)6.6 m(17 m)(18 m)

Inventories

(3.7 m)(7.7 m)39.6 m(139.5 m)

Accounts Payable

9.2 m(8.4 m)7.8 m16.6 m

Cash From Operating Activities

114.9 m99.1 m128.5 m289.7 m37.8 m

Cash From Investing Activities

(261.9 m)(173.3 m)(892.4 m)(481.2 m)(220.5 m)

Short-term Borrowings

(90 m)(258.5 m)(164 m)(99 m)(571 m)

Long-term Borrowings

(138.8 m)(18.8 m)(150 m)(233.6 m)

Dividends Paid

(62.8 m)(72.4 m)(76.5 m)(100.8 m)(123.6 m)

Cash From Financing Activities

131.8 m71.6 m767.4 m216 m359.3 m

Free Cash Flow

129.6 m118.2 m147.1 m247.2 m(22 m)

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q3, 2015Q1, 2016Q2, 2015Q3, 2016Q1, 2016Q2, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Net Income

33.6 m17.8 m33.9 m29.5 m58.1 m19.6 m38.3 m95.9 m33.2 m63.4 m32.8 m54.8 m32.7 m20.5 m

Depreciation and Amortization

17 m6.9 m13.9 m20.8 m20.5 m6.5 m13.4 m26.8 m9 m18.2 m12.2 m24.5 m13.1 m

Accounts Receivable

(9.5 m)6.8 m5 m(6 m)(5.2 m)168 k5.7 m(20.6 m)(2.6 m)(1.2 m)(29.4 m)(5.8 m)(20.9 m)

Inventories

(16 m)(2.7 m)(16.3 m)(32.4 m)(25.5 m)(535 k)(12.7 m)(29.9 m)53.8 m50.7 m(1.4 m)(60.6 m)487.4 m46.1 m

Accounts Payable

(3.5 m)(12.8 m)(3.6 m)3.3 m(6.2 m)(11.8 m)(7.2 m)47.6 m(7.7 m)(11.7 m)(21.8 m)(5.3 m)(11.4 m)

Cash From Operating Activities

68.9 m31 m36.1 m60.7 m86.7 m38.7 m57.6 m192.8 m123.8 m200.7 m2.5 m19.8 m7.5 m73.7 m

Cash From Investing Activities

(218.3 m)(2.2 m)(163.8 m)(168.2 m)(63.7 m)(3.2 m)(7.4 m)(24.8 m)(5.1 m)(13.2 m)(8.2 m)(24.8 m)(40.6 m)(5 m)

Short-term Borrowings

(60 m)(17.5 m)(232.5 m)(246.5 m)(44 m)(17.5 m)(44 m)(50 m)(50 m)(50 m)(50 m)(221 m)

Long-term Borrowings

(501.4 m)(3.8 m)(131.3 m)(131.3 m)(13.1 m)(3.8 m)(7.5 m)(150 m)(150 m)(150 m)(150 m)(233.6 m)(233.6 m)(125 m)

Dividends Paid

(45.9 m)(17.6 m)(35.9 m)(54.1 m)(56.2 m)(18.2 m)(36.5 m)(72.9 m)(20.3 m)(46.6 m)(30.9 m)(61.8 m)(92.7 m)(30.9 m)

Cash From Financing Activities

142.5 m(15.9 m)127.5 m109.4 m21.6 m(13.2 m)47 m67.9 m(59.3 m)(85.6 m)9.5 m28 m27.1 m(157.8 m)

Free Cash Flow

60.5 m28.8 m26.6 m46.8 m74 m35.5 m50.1 m168 m118.7 m187.5 m(7.8 m)(7 m)(35.2 m)68.8 m

B&G Foods Ratios

USDY, 2018

EV/EBIT

70.3 x

EV/CFO

53.6 x

EV/FCF

57.4 x

Revenue/Employee

166.7 k

Financial Leverage

3.9 x
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B&G Foods Operating Metrics

FY, 2014FY, 2015FY, 2016

Manufacturing Facilities

7 9 10

Distribution Centers

3 3 4
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