$3 B

CCMP Mkt cap, 18-Jul-2018

$283 M

Cabot Microelectronics Revenue Q2, 2018
Cabot Microelectronics Gross profit (Q2, 2018)149.1 M
Cabot Microelectronics Gross profit margin (Q2, 2018), %52.7%
Cabot Microelectronics Net income (Q2, 2018)26.7 M
Cabot Microelectronics EBIT (Q2, 2018)74.2 M
Cabot Microelectronics Cash, 31-Mar-2018461.4 M
Cabot Microelectronics EV2.6 B

Cabot Microelectronics Revenue

Cabot Microelectronics revenue was $507.18 m in FY, 2017

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Cabot Microelectronics Revenue Breakdown

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Cabot Microelectronics revenue breakdown by geographic segment: 84.3% from Asia, 15.7% from United States and 0.0% from Other

Cabot Microelectronics Income Statement

Annual

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

Revenue

424.7 m414.1 m430.4 m507.2 m

Revenue growth, %

265000%(2%)4%

Cost of goods sold

221.6 m201.9 m220.2 m253.1 m

Gross profit

203.1 m212.2 m210.2 m254.1 m

Gross profit Margin, %

48%51%49%50%

Sales and marketing expense

26.5 m25 m27.7 m

R&D expense

59.4 m59.8 m58.5 m

General and administrative expense

45.4 m52.4 m49.4 m55.6 m

Operating expense total

131.3 m137.2 m135.7 m142.1 m

Depreciation and amortization

25.9 m

EBIT

71.8 m75 m74.5 m112 m

EBIT margin, %

17%18%17%22%

Interest expense

3.4 m4.5 m4.7 m4.5 m

Pre tax profit

68.6 m71.2 m70.4 m109.4 m

Income tax expense

17.8 m15.1 m10.6 m22.4 m

Net Income

50.8 m56.1 m59.8 m87 m

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q1, 2018Q2, 2018

Revenue

97.2 m100.4 m99.2 m140 m283 m

Cost of goods sold

48.6 m50.2 m52.3 m66 m133.9 m

Gross profit

48.6 m50.2 m46.9 m74 m149.1 m

Gross profit Margin, %

50%50%47%53%53%

Sales and marketing expense

5.8 m12.6 m

General and administrative expense

12.8 m14.3 m13 m18.9 m36.7 m

Operating expense total

33.4 m35.8 m34.6 m36.9 m74.9 m

EBIT

15.2 m14.4 m12.3 m37.1 m74.2 m

EBIT margin, %

16%14%12%27%26%

Interest expense

1.1 m1.2 m1.2 m1.1 m2.3 m

Pre tax profit

13.9 m13.4 m11.6 m36.7 m73.6 m

Income tax expense

4 m2.1 m2.4 m39.7 m47 m

Net Income

11.3 m10.1 m13.3 m19.9 m13.8 m9.9 m11.3 m9.1 m(3.1 m)26.7 m

Cabot Microelectronics Balance Sheet

Annual

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

Cash

226 m284.2 m354.2 m287.5 m397.9 m

Accounts Receivable

213 m(4 m)

Inventories

63.8 m65 m70.7 m72.1 m71.9 m

Current Assets

365.7 m428 m494.5 m437.1 m551 m

PP&E

112 m100.8 m93.7 m106.5 m106.4 m

Goodwill

44.3 m43.2 m40.4 m100.6 m101.9 m

Total Assets

554.5 m601.2 m660.5 m727.9 m834.1 m

Accounts Payable

16.7 m15.3 m15.4 m16.8 m17.6 m

Short-term debt

10.9 m8.8 m8.8 m7.7 m10.9 m

Current Liabilities

67.5 m55.4 m60.6 m65.9 m91.2 m

Long-term debt

150.9 m164.1 m155.3 m147.7 m

Total Debt

161.9 m172.8 m164.1 m155.3 m10.9 m

Total Liabilities

230.3 m239.1 m

Retained Earnings

180.8 m227.9 m284.1 m330.8 m397.9 m

Total Equity

327.1 m372 m429 m497.6 m595 m

Debt to Equity Ratio

0.5 x0.5 x0.4 x0.3 x0 x

Debt to Assets Ratio

0.3 x0.3 x0.2 x0.2 x0 x

Financial Leverage

1.7 x1.6 x1.5 x1.5 x1.4 x

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q1, 2018Q2, 2018

Cash

246.5 m239.1 m265.5 m295.4 m333.7 m338.7 m218.1 m226.4 m377.2 m461.4 m

Inventories

66.1 m71.6 m70.9 m62.6 m64.3 m67.6 m76.2 m76.3 m74 m76.8 m

Current Assets

396.7 m389.9 m412.8 m444.5 m483.5 m479.1 m364.5 m371.5 m588 m631.2 m

PP&E

109.5 m106.2 m105.9 m95.3 m94.5 m94.1 m101.5 m104.3 m107.7 m109.3 m

Goodwill

43.8 m43.1 m43.9 m41.9 m42.3 m42.7 m95.7 m95.6 m102.7 m102.9 m

Total Assets

575.7 m566.5 m590 m608.1 m644.4 m647.8 m656.7 m664.6 m858 m899 m

Accounts Payable

15.8 m14.3 m12.4 m13.1 m16 m16.3 m13.8 m16.3 m15 m18.2 m

Short-term debt

12 m13.1 m8.8 m8.8 m8.8 m8.8 m8.8 m8.8 m16.4 m13.1 m

Current Liabilities

56.4 m51.6 m48.6 m53.7 m56.4 m58.2 m52 m59.5 m90.1 m93.8 m

Long-term debt

147.7 m144.4 m166.3 m161.9 m159.7 m157.5 m153.1 m150.9 m

Total Debt

159.7 m157.5 m175 m170.6 m168.4 m166.3 m161.9 m159.7 m16.4 m13.1 m

Total Liabilities

213.1 m206.2 m225.4 m225 m226.1 m230.4 m220.6 m227.5 m256.3 m263.5 m

Retained Earnings

192.1 m202.2 m211.9 m247.9 m261.7 m271.6 m295.4 m300.2 m389.6 m409 m

Total Equity

362.6 m360.3 m364.5 m383 m418.3 m417.4 m436.1 m437.1 m601.7 m635.5 m

Financial Leverage

1.6 x1.6 x1.6 x1.6 x1.5 x1.6 x1.5 x1.5 x1.4 x1.4 x

Cabot Microelectronics Cash Flow

Annual

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

Net Income

51.4 m50.8 m56.1 m59.8 m87 m

Depreciation and Amortization

20.5 m19.9 m18.7 m26 m25.9 m

Accounts Receivable

(5.9 m)(8.2 m)9 m(8 m)(4 m)

Inventories

(1.7 m)(3.8 m)(8.3 m)3.4 m(1.2 m)

Accounts Payable

(1.4 m)(850 k)801 k(478 k)892 k

Cash From Operating Activities

85.5 m67.5 m98.2 m95.2 m141.4 m

Purchases of PP&E

(14.6 m)(12.6 m)(13.8 m)(17.7 m)(21.2 m)

Cash From Investing Activities

(14.6 m)(9 m)(13.4 m)(144.4 m)(19.8 m)

Long-term Borrowings

(10.9 m)(6.6 m)(8.8 m)(8.8 m)(10.9 m)

Dividends Paid

(8.7 m)(19 m)

Cash From Financing Activities

(20.2 m)1.2 m(9 m)(24.4 m)(7 m)

Interest Paid

3.6 m3.4 m4.1 m4.3 m4.1 m

Income Taxes Paid

17.7 m18 m8.5 m7.2 m13.3 m

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q1, 2018Q2, 2018

Net Income

11.3 m21.4 m34.7 m19.9 m33.7 m43.6 m11.3 m20.4 m(3.1 m)26.7 m

Depreciation and Amortization

5 m9.9 m14.9 m4.7 m9.3 m13.9 m6 m12.5 m6.5 m13.1 m

Accounts Receivable

1.3 m773 k(889 k)(2.8 m)2.7 m8.4 m(2.3 m)1.5 m(4.7 m)(4.4 m)

Inventories

(3.8 m)(8.9 m)(7.5 m)243 k(1.7 m)(5.2 m)(2.9 m)(2.2 m)(1.7 m)(3.8 m)

Accounts Payable

(363 k)(1.6 m)(3.8 m)(906 k)1.4 m1.5 m(2.8 m)93 k(2.8 m)(407 k)

Cash From Operating Activities

339 k14.4 m36.7 m21.7 m48.7 m73.9 m7.2 m32.6 m30.6 m67.1 m

Purchases of PP&E

(3.7 m)(7.3 m)(10.2 m)(2.5 m)(5.3 m)(8.9 m)(5.1 m)(10.3 m)(4.2 m)(8.8 m)

Cash From Investing Activities

(1.4 m)(4 m)(6.7 m)(2.4 m)(5.1 m)(8.5 m)(131.6 m)(136.8 m)(52.5 m)(5.9 m)

Long-term Borrowings

(2.2 m)(4.4 m)(4.4 m)(2.2 m)(4.4 m)(6.6 m)(2.2 m)(4.4 m)(3.3 m)(6.6 m)

Dividends Paid

(5.1 m)(10.2 m)

Cash From Financing Activities

22.3 m3.7 m9.3 m(6.1 m)8.1 m(8.4 m)(11.8 m)(26.9 m)(6.6 m)(8.6 m)

Cabot Microelectronics Ratios

USDY, 2018

EV/EBIT

34.9 x

EV/CFO

38.5 x

Revenue/Employee

240 k

Financial Leverage

1.4 x
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Cabot Microelectronics Operating Metrics

FY, 2014FY, 2015FY, 2016

Patents (US)

242 247 280

Patents (foreign)

1.01 k1.01 k1.01 k

Patents Pending (US)

80 92 78

Patents Pending (foreign)

349 352 434
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