$786.6 M

CARO Mkt cap, 15-Oct-2018

$98.2 M

Carolina Financial Revenue Q2, 2018
Carolina Financial Gross profit (Q2, 2018)86.1 M
Carolina Financial Gross profit margin (Q2, 2018), %87.7%
Carolina Financial Net income (Q2, 2018)19 M
Carolina Financial EBIT (Q2, 2018)64.5 M
Carolina Financial Cash, 30-Jun-201882.1 M
Carolina Financial EV750.9 M

Carolina Financial Income Statement

Annual

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

Revenue

58.8m77.3m90.2m

Revenue growth, %

31%17%

Cost of goods sold

5.6m6.6m8.8m13.3m

Gross profit

53.2m70.7m81.5m

Gross profit Margin, %

90%91%90%

Sales and marketing expense

23.3m28.6m31.5m

General and administrative expense

4.9m7.2m7.9m10.3m

Operating expense total

28.2m35.9m39.4m73.4m

EBIT

32.1m43.0m52.2m81.1m

EBIT margin, %

55%56%58%

Pre tax profit

11.8m21.5m25.4m41.5m

Income tax expense

3.4m7.1m7.8m13.0m

Net Income

8.3m14.4m17.6m28.6m

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Revenue

13.8m14.2m15.0m18.0m19.9m19.8m19.6m21.7m25.1m24.9m30.9m47.7m98.2m

Cost of goods sold

1.3m1.4m1.4m1.5m1.6m1.6m2.1m2.2m2.3m2.4m3.0m5.5m12.1m

Gross profit

12.4m12.8m13.6m16.5m18.3m18.2m17.5m19.5m22.8m22.5m27.9m42.2m86.1m

Gross profit Margin, %

90%90%90%92%92%92%89%90%91%90%90%88%88%

Sales and marketing expense

5.3m5.5m5.9m7.0m7.3m7.2m7.2m7.7m8.5m8.6m9.3m

General and administrative expense

984.0k1.1m1.2m1.8m1.7m1.8m1.8m1.9m2.1m2.2m2.4m3.7m7.7m

Operating expense total

9.6m9.5m10.2m12.2m12.4m12.4m12.3m15.8m13.9m15.6m15.9m37.6m62.0m

EBIT

7.1m7.3m8.1m10.0m11.1m10.9m11.3m12.3m14.0m15.3m19.1m19.5m32.1m64.5m

EBIT margin, %

51%52%54%55%56%55%57%57%56%61%62%67%66%

Pre tax profit

2.8m3.3m3.3m4.4m5.9m5.8m5.3m3.7m8.9m6.9m12.0m12.0m4.6m23.6m

Income tax expense

899.0k1.0m931.0k1.4m2.0m1.9m1.6m864.0k3.0m2.0m2.7m4.0m525.0k4.6m

Net Income

1.9m2.2m2.4m3.0m3.9m3.9m3.6m2.8m5.9m4.9m9.3m8.0m4.1m19.0m

Carolina Financial Balance Sheet

Annual

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

Cash

21.1m26.6m24.4m81.3m

Accounts Receivable

3.6m4.3m5.4m

Inventories

441.8k478.5k

PP&E

31.1m32.6m37.1m61.4m

Goodwill

4.3m127.6m

Total Assets

1.2b1.4b1.7b3.5b

Accounts Payable

312.0k333.0k327.0k2.6b

Long-term debt

61.7m103.5m38.5m72.3m

Total Debt

38.5m72.3m

Total Liabilities

1.5b

Additional Paid-in Capital

23.2m56.4m66.2m348.0m

Retained Earnings

69.6m82.9m98.5m123.5m

Total Equity

93.7m139.9m163.2m475.4m

Debt to Equity Ratio

0.2 x

Debt to Assets Ratio

0 x

Financial Leverage

12.8 x10.1 x10.3 x7.4 x

Quarterly

USDQ2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Cash

29.4m22.1m30.3m46.3m38.3m68.6m45.0m45.2m61.4m82.1m

PP&E

31.6m32.1m32.5m35.3m35.1m46.5m46.9m62.6m62.5m

Goodwill

4.3m4.3m37.3m37.3m37.3m127.6m127.6m

Total Assets

1.3b1.3b1.5b1.6b1.7b2.2b2.2b2.3b3.6b3.7b

Accounts Payable

1.0b1.0b1.1b1.3b1.3b1.6b1.7b2.7b2.7b

Long-term debt

55.5m68.5m98.5m68.5m68.5m55.3m75.3m54.4m67.3m46.3m

Total Debt

55.5m68.5m98.5m68.5m68.5m55.3m75.3m54.4m67.3m46.3m

Total Liabilities

1.2b1.2b1.3b1.5b1.5b1.9b1.9b2.0b

Additional Paid-in Capital

23.8m24.1m56.8m65.6m65.9m168.1m168.5m168.9m348.6m412.3m

Retained Earnings

76.0m79.6m86.1m88.3m93.8m102.5m110.2m117.5m126.3m139.8m

Total Equity

100.3m104.2m142.4m155.0m160.3m271.5m281.8m290.2m475.0m551.8m

Debt to Equity Ratio

0.2 x

Debt to Assets Ratio

0 x

Financial Leverage

13.2 x12.8 x10.2 x10.4 x10.3 x8 x7.8 x7.8 x7.5 x6.7 x

Carolina Financial Cash Flow

Annual

USDFY, 2014FY, 2015FY, 2016

Net Income

8.3m14.4m17.6m

Depreciation and Amortization

1.2m1.8m2.0m

Accounts Receivable

(668.0k)(705.0k)(754.0k)

Inventories

(898.0k)2.4m

Accounts Payable

1.0k21.0k(28.0k)

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Net Income

1.9m4.2m6.6m3.0m6.9m10.8m3.6m6.5m12.4m4.9m14.2m8.0m

Depreciation and Amortization

271.0k558.0k859.0k427.0k863.0k1.3m472.0k953.0k1.5m568.0k1.2m

Accounts Receivable

18.0k(257.0k)(186.0k)(405.0k)(458.0k)(472.0k)(171.0k)(162.0k)(194.0k)(170.0k)(568.0k)

Accounts Payable

13.0k14.0k(12.0k)20.0k15.0k(8.0k)17.0k(9.0k)105.0k170.0k

Cash From Operating Activities

(14.6m)19.9m

Long-term Borrowings

(10.0m)

Carolina Financial Ratios

USDY, 2018

EV/EBIT

11.6 x

Financial Leverage

6.7 x
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Carolina Financial Operating Metrics

Carolina Financial's Total Loans was reported to be $1.4b in Q2, 2017.
FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017

Bank Branches

26 27 30

Total Loans

$768.12 m$794.49 m$831.05 m$846.88 m$912.58 m$953.79 m$1.06 b$1.12 b$1.17 b$1.41 b$1.42 b
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