$4.7 B

CREE Mkt cap, 20-Jul-2018

$1.1 B

Cree Revenue Q3, 2018
Cree Net income (Q3, 2018)-246.7 M
Cree EBIT (Q3, 2018)-308.5 M
Cree Cash, 25-Mar-2018101.2 M
Cree EV4.9 B

Cree Revenue Breakdown

Embed Graph

Cree revenue breakdown by business segment: 7.2% from Power and RF Products, 37.8% from LED Products and 55.0% from Lighting Products

Cree Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016

Revenue

1.6 b1.6 b1.6 b

Revenue growth, %

(1%)(1%)

EBIT

134.3 m(72.5 m)(10.5 m)

EBIT margin, %

8%(4%)(1%)

Pre tax profit

(82.9 m)

Income tax expense

(18.9 m)

Net Income

124.2 m(64.1 m)(21.5 m)

Quarterly

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

Revenue

425.5 m435.8 m366.9 m321.3 m347 m341.5 m360.4 m728.3 m1.1 b

R&D expense

43.5 m42 m41.9 m28.5 m28.1 m41.5 m41.9 m81.6 m121.9 m

General and administrative expense

131 m201.3 m

Operating expense total

140.4 m125.7 m113.6 m96.5 m102.2 m106 m114.4 m233.3 m600.5 m

EBIT

(8.7 m)9.4 m(4.5 m)(10.1 m)8.7 m(19.9 m)(14.1 m)(40.4 m)(308.5 m)

EBIT margin, %

(2%)2%(1%)(3%)3%(6%)(4%)(6%)(28%)

Pre tax profit

(31.5 m)17.4 m(3.8 m)(10.3 m)3.9 m(10 m)(15.2 m)(14.7 m)(292.5 m)

Income tax expense

(7.9 m)3.5 m(4 m)(7.4 m)5 m89 m4.7 m(8.6 m)(45.8 m)

Net Income

30.5 m35.7 m28.2 m11.1 m12.2 m651 k(23.6 m)14 m152 k566 k6.2 m(99 m)(19.9 m)(6.1 m)(246.7 m)

Cree Balance Sheet

Annual

USDFY, 2014FY, 2015FY, 2016

Cash

286.8 m139.7 m166.2 m

Accounts Receivable

225.2 m186.2 m165.6 m

Inventories

284.8 m280.6 m303.5 m

Current Assets

1.8 b1.3 b1.2 b

PP&E

605.7 m635.1 m599.7 m

Goodwill

616.3 m616.3 m618.8 m

Total Assets

3.3 b3 b2.8 b

Accounts Payable

734 k

Current Liabilities

306.7 m254.8 m223 m

Long-term debt

200 m160 m

Non-Current Liabilities

47.6 m233.3 m175.2 m

Total Debt

160 m

Total Liabilities

354.2 m488 m398.2 m

Additional Paid-in Capital

2.2 b2.3 b2.4 b

Retained Earnings

788.6 m174.9 m

Total Equity

2.5 b2.4 b

Debt to Equity Ratio

0.1 x

Debt to Assets Ratio

0.1 x

Financial Leverage

1.2 x1.2 x

Quarterly

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

Cash

187.9 m269.4 m268.8 m196.3 m200 m204.7 m83.4 m90.6 m115.6 m127.8 m137.1 m117.1 m152.1 m169.7 m101.2 m

Accounts Receivable

209.3 m213.5 m222.3 m237 m219 m216.2 m193.8 m183.1 m178.6 m146.1 m121.8 m149.5 m154.9 m153 m143.3 m

Inventories

217.3 m234.5 m251.2 m310.8 m332.5 m299.4 m289.1 m280.8 m297.9 m291.5 m281.7 m291.1 m277.9 m273.2 m309.9 m

Current Assets

1.7 b1.7 b1.8 b1.8 b1.5 b1.4 b1.3 b1.2 b1.2 b1.5 b1.5 b1.1 b1.1 b1.1 b909.5 m

PP&E

550.1 m569.2 m575.9 m635.3 m652.9 m654.2 m635.8 m623.3 m612.1 m373.2 m360.2 m574.3 m594.7 m612.1 m641.4 m

Goodwill

616.3 m616.3 m616.3 m616.3 m616.3 m616.3 m618.8 m618.8 m618.8 m518.1 m518.1 m618.8 m618.8 m618.8 m617.7 m

Total Assets

3.2 b3.3 b3.4 b3.4 b3.2 b3.1 b2.9 b2.8 b2.8 b2.8 b2.7 b2.6 b2.7 b2.7 b2.7 b

Current Liabilities

258.8 m275 m263.7 m292.9 m244.9 m200.3 m251.8 m235.6 m218 m210.9 m214.6 m207.4 m229.4 m245.7 m243.3 m

Long-term debt

45 m150 m150 m207 m205 m225 m187 m170 m153 m141 m124 m316 m

Non-Current Liabilities

53.6 m72.7 m67.9 m89.9 m190.9 m188.6 m250.4 m224.5 m242.7 m199.6 m193 m219.5 m212.6 m185.6 m342.5 m

Total Debt

45 m150 m150 m207 m205 m225 m187 m170 m153 m141 m124 m316 m

Additional Paid-in Capital

2.1 b2.1 b2.2 b2.2 b2.2 b2.3 b2.3 b2.3 b2.3 b2.4 b2.4 b2.4 b2.4 b2.5 b2.5 b

Retained Earnings

803 m830.2 m858.3 m745.4 m491.5 m422.4 m81.7 m33.5 m10 m(35.7 m)(92.3 m)(196.9 m)(222.6 m)(208.9 m)(449.5 m)

Total Equity

2.4 b2.4 b2.4 b2.3 b2.3 b2.2 b2.2 b2.3 b2.1 b

Financial Leverage

1.2 x1.2 x1.2 x1.2 x1.2 x1.2 x1.2 x1.2 x1.3 x

Cree Cash Flow

Annual

USDFY, 2014FY, 2015FY, 2016

Net Income

124.2 m(64.1 m)(21.5 m)

Depreciation and Amortization

163 m172.3 m159.1 m

Accounts Receivable

(33 m)37.9 m21.8 m

Inventories

(87 m)3.5 m(23 m)

Cash From Operating Activities

319.3 m181.3 m203.3 m

Purchases of PP&E

(178.6 m)(206.2 m)(120 m)

Cash From Investing Activities

(242.3 m)(16.1 m)(7.9 m)

Cash From Financing Activities

19.5 m(311.4 m)(167.9 m)

Interest Paid

1 m3.1 m

Income Taxes Paid

10.3 m28.8 m14.7 m

Quarterly

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

Net Income

30.5 m66.2 m94.3 m11.1 m23.3 m23.9 m(23.6 m)(9.7 m)(10.9 m)566 k6.8 m(92.2 m)

Depreciation and Amortization

39.5 m79.6 m120.2 m43.3 m87.1 m130.4 m41.2 m81.4 m119.9 m35.9 m62.6 m113.5 m37.4 m74.6 m113.2 m

Accounts Receivable

(16.6 m)(21 m)(29.8 m)(12 m)5.6 m7.6 m(6.4 m)3.9 m8.6 m(9.2 m)13.6 m16.1 m(6 m)(4.2 m)5.7 m

Inventories

(19.8 m)(36.6 m)(53.5 m)(25.7 m)(47.7 m)(15.1 m)(8.4 m)(514 k)(17.5 m)(10.8 m)1.3 m12.1 m7 m11.3 m(4.6 m)

Cash From Operating Activities

69.2 m168 m228.2 m13.3 m28.1 m93.7 m46.8 m123.8 m138.8 m18.1 m119.7 m163.2 m54.1 m105.8 m125.4 m

Purchases of PP&E

(33.7 m)(83.5 m)(119.6 m)(63.4 m)(113.4 m)(158.3 m)(49.9 m)(81.8 m)(99.7 m)(19.3 m)(35.2 m)(56.9 m)(36.5 m)(85.2 m)(128.4 m)

Cash From Investing Activities

(106 m)(176.9 m)(257.3 m)(107.7 m)33.2 m36.7 m(42.6 m)(55 m)(50.7 m)(48.2 m)(67.7 m)(108.2 m)(34.3 m)(97.7 m)(393.8 m)

Cash From Financing Activities

34.4 m87.8 m107.8 m4.2 m(147.6 m)(211.6 m)(59.8 m)(116.8 m)(111.2 m)(8.2 m)(80.4 m)(103.6 m)(831 k)28.6 m236.3 m

Cree Ratios

USDY, 2018

EV/EBIT

-16 x

EV/CFO

39.4 x

Financial Leverage

1.3 x
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Cree Operating Metrics

Cree's Backlog was reported to be $181.7m in FY, 2016.
FY, 2014FY, 2015FY, 2016

Backlog

$193.20 m$238.40 m$181.70 m

Patents (US)

1.33 k1.58 k1.82 k

Patents (foreign)

2.34 k2.73 k2.98 k
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