$586.2 M

CVTI Mkt cap, 22-Jun-2018

$173.6 M

Covenant Transportation Group Revenue Q1, 2018
Covenant Transportation Group Net income (Q1, 2018)4.4 M
Covenant Transportation Group EBIT (Q1, 2018)6.4 M
Covenant Transportation Group Cash, 31-Mar-201838.4 M
Covenant Transportation Group EV736.2 M

Covenant Transportation Group Financials

Covenant Transportation Group Income Statement

Annual

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

Revenue

684.5 m719 m724.2 m670.7 m705 m

Revenue growth, %

5%1%

Operating expense total

3 k13 k676.9 m

EBIT

20.4 m39.6 m67.8 m32.4 m28.2 m

EBIT margin, %

3%6%9%5%4%

Interest expense

10.4 m10.8 m8.4 m8.2 m8.3 m

Pre tax profit

12.7 m32.6 m63.9 m27.2 m23.3 m

Income tax expense

7.5 m14.8 m21.8 m10.4 m(32.1 m)

Net Income

5.2 m17.8 m42.1 m16.8 m55.4 m

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q3, 2017Q1, 2018

Revenue

173.7 m177.6 m167.2 m175.5 m173.5 m156.3 m158.8 m164.5 m158.7 m178.6 m173.6 m

Operating expense total

169.6 m167.1 m

EBIT

9.1 m5.6 m10 m18.8 m14.6 m7.4 m7.3 m5.4 m309 k9 m6.4 m

EBIT margin, %

5%3%6%11%8%5%5%3%0%5%4%

Interest expense

2.7 m2.6 m2.2 m1.7 m2 m2.3 m2 m2.1 m2 m

Interest income

4 k1 k4 k4 k

Pre tax profit

7.2 m3.8 m9.2 m18.4 m13.6 m6 m6.5 m3.9 m(747 k)7.6 m6 m

Income tax expense

3.4 m2 m(1 m)7.4 m6 m2.2 m2.9 m1.1 m(708 k)3 m1.5 m

Net Income

3.8 m1.9 m10.2 m11 m7.6 m3.8 m3.6 m2.9 m(39 k)4.6 m4.4 m

Covenant Transportation Group Balance Sheet

Annual

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

Cash

9.3 m21.3 m4.5 m7.8 m15.4 m

Accounts Receivable

Inventories

Current Assets

123.5 m156.8 m172.8 m135 m162.3 m

Total Assets

466.4 m554 m647.4 m620.5 m649.7 m

Accounts Payable

8.3 m9.6 m12.3 m13 m11.9 m

Short-term debt

8.7 m1.6 m4 m2.4 m3 m

Current Liabilities

109.4 m104.1 m126.5 m87.8 m81.2 m

Long-term debt

182.7 m172.9 m207.1 m188.4 m164.5 m

Total Debt

191.4 m174.5 m211.1 m190.9 m167.4 m

Total Liabilities

384.1 m354.5 m

Common Stock

145 k168 k170 171 k

Additional Paid-in Capital

88.6 m141.2 m140 m137.9 m137.2 m

Retained Earnings

23.1 m40.9 m83 m102 m157.5 m

Total Equity

100.4 m169.2 m202.2 m236.4 m295.2 m

Debt to Equity Ratio

1.9 x1 x1 x0.8 x

Debt to Assets Ratio

0.4 x0.3 x0.3 x0.3 x

Financial Leverage

4.6 x3.3 x3.2 x2.6 x2.2 x

Quarterly

USDQ2, 2014Q3, 2014Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q3, 2017Q1, 2018

Cash

19.4 m17.2 m23.8 m14 m3.7 m8.4 m5 m7.3 m8.3 m38.4 m

Current Assets

137.1 m124.6 m136.1 m118.4 m98.6 m108.4 m114.8 m115.3 m149.2 m171.8 m

Total Assets

471.9 m470.2 m527.5 m595.3 m569.5 m587.7 m607 m609.4 m650.3 m655.3 m

Accounts Payable

12.4 m9.6 m12 m9.3 m8.8 m10.9 m10.1 m9 m12.4 m12.5 m

Short-term debt

9.3 m5.4 m1.7 m4.1 m3.9 m3.8 m1.7 m2.5 m3 m

Current Liabilities

107.6 m98.3 m98.2 m104.7 m100.7 m92.9 m87.7 m78.7 m89.9 m78.9 m

Long-term debt

185 m181.5 m138.4 m199.8 m157.1 m173.4 m191.9 m180 m165.6 m185.4 m

Total Debt

165.6 m188.4 m

Total Liabilities

405.9 m353.6 m

Common Stock

145 k145 k170 k170 k170 k170 k170 k170 k171 k

Additional Paid-in Capital

88.4 m89.1 m143.1 m143.4 m138.3 m138.5 m138.8 m136.8 m137.5 m138.1 m

Retained Earnings

25.5 m27.3 m62.1 m69.7 m86.7 m93.2 m96.1 m102 m108.2 m162.5 m

Total Equity

103 m102.5 m196 m194.1 m207.1 m219.8 m225.4 m235.3 m244.4 m301.7 m

Financial Leverage

4.6 x4.6 x2.7 x3.1 x2.8 x2.7 x2.7 x2.6 x2.7 x2.2 x

Covenant Transportation Group Cash Flow

Annual

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

Net Income

5.2 m17.8 m42.1 m16.8 m55.4 m

Depreciation and Amortization

44.5 m49 m62 m71.6 m72.4 m

Accounts Receivable

Inventories

Accounts Payable

(6.3 m)5.6 m(10.6 m)(5.1 m)(3.4 m)

Cash From Operating Activities

82.9 m

Purchases of PP&E

(135.9 m)(163.7 m)(182 m)(112.8 m)(110.8 m)

Short-term Borrowings

(867.4 m)(1 b)

Interest Paid

10.3 m10.9 m8.4 m8.5 m8.3 m

Income Taxes Paid

320 k571 k8.1 m6.4 m(2.2 m)

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q3, 2017Q1, 2018

Net Income

3.8 m1.9 m10.2 m11 m7.6 m3.8 m3.6 m2.9 m(39 k)4.6 m4.4 m

Depreciation and Amortization

18.6 m

Accounts Payable

12.4 m9.6 m12 m9.3 m8.8 m10.9 m10.1 m9 m12.4 m(4.2 m)

Cash From Operating Activities

36.7 m

Purchases of PP&E

(32.2 m)

Cash From Investing Activities

(13.7 m)

Cash From Financing Activities

50 k

Covenant Transportation Group Ratios

USDY, 2018

EV/EBIT

114.6 x

EV/CFO

20.1 x

Revenue/Employee

39.4 k

Financial Leverage

2.2 x
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