Cubic Corporation Financials

$1.5 B

Revenue FY, 2017

$1.8 B

Mkt cap, 20-Apr-2018
Net income (FY, 2017)(11.2 M)
EBIT (FY, 2017)17.5 M
Cash, 30-Sep-201760.1 M
EV1.9 B

Revenue/Financials

Income Statement

Annual

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

Revenue

1.4 b1.4 b1.4 b1.5 b1.5 b

Revenue growth, %

3%2%2%

R&D expense

32 m52.7 m

General and administrative expense

269.6 m258.1 m

Operating expense total

301.6 m1.5 b

Depreciation and amortization

33 m

EBIT

75.4 m7.2 m17.5 m

EBIT margin, %

5%0%1%

Interest expense

4.4 m11.2 m15 m

Pre tax profit

71.9 m(7.5 m)3.9 m

Income tax expense

49 m(9.2 m)15.1 m

Net Income

20 m69.6 m22.9 m1.7 m(11.2 m)

Quarterly

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

Revenue

307.1 m354.5 m340.4 m318.5 m338.8 m347.8 m313.8 m366 m375.2 m334.7 m343.7 m361.9 m

R&D expense

4.9 m5 m3.9 m4.3 m2.6 m5.9 m3.5 m6.1 m8.5 m9 m12.9 m16.9 m

General and administrative expense

36.8 m48.3 m46.5 m47.6 m52.9 m55.1 m58.5 m79.8 m68.6 m63.8 m59.4 m60.1 m

Operating expense total

295.3 m332.3 m321.1 m311.3 m315.6 m337.5 m321.9 m375.1 m361.3 m338.8 m345.8 m363.6 m

EBIT

11.8 m22.2 m19.2 m7.2 m23.2 m10.3 m(8.1 m)(9.1 m)13.9 m(4.1 m)(2.1 m)(1.7 m)

EBIT margin, %

4%6%6%2%7%3%(3%)(2%)4%(1%)(1%)0%

Interest expense

861 k752 k1.5 m871 k1.1 m1.1 m1.3 m2.6 m3.5 m3.5 m4.3 m4.4 m

Pre tax profit

10.9 m21.9 m17.2 m5.9 m22.6 m9.3 m(8.8 m)(11.1 m)8.9 m(7.9 m)(6.6 m)(4.1 m)

Income tax expense

2.4 m5.8 m5 m695 k33.6 m559 k(3.4 m)(21.2 m)4.4 m(5.1 m)(7 m)17.8 m

Net Income

8.4 m16.1 m12.2 m5.2 m(11 m)8.8 m(5.4 m)10.1 m4.5 m(2.9 m)461 k(22 m)

Balance Sheet

Annual

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

Cash

203.9 m215.8 m218.5 m197.1 m60.1 m

Accounts Receivable

375.5 m(40 m)

Inventories

54.4 m38.8 m63.7 m66.4 m(18.9 m)

Current Assets

734.4 m765.4 m775.3 m782.9 m621.5 m

PP&E

56.3 m64.1 m74.7 m96.3 m113.7 m

Goodwill

134.9 m184.1 m237.9 m406.9 m415.9 m

Total Assets

1.1 b1.2 b1.3 b1.5 b1.3 b

Accounts Payable

39 m31.3 m47.2 m81.2 m95.8 m

Short-term debt

60 m240 m55 m

Current Liabilities

256.9 m270.2 m346.8 m520.2 m376.5 m

Long-term debt

102.4 m101.8 m126.2 m200.6 m199.8 m

Total Debt

186.2 m440.6 m199.8 m

Retained Earnings

728.4 m803.1 m818.6 m813 m794.5 m

Total Equity

704.9 m782.5 m756.3 m689.9 m689.6 m

Debt to Equity Ratio

0.2 x0.6 x0.3 x

Debt to Assets Ratio

0.1 x0.3 x0.1 x

Financial Leverage

1.6 x1.5 x1.7 x2.2 x1.9 x

Quarterly

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

Cash

121.4 m125.3 m166.8 m187.3 m208.1 m209.3 m171.4 m158.8 m173.4 m166.3 m167.8 m67.1 m

Current Assets

712.5 m742.2 m741.6 m729 m750.6 m789.6 m740.8 m730.5 m754.8 m730.6 m760.5 m588.5 m

PP&E

59.3 m63.8 m64.4 m61.6 m70.8 m71.4 m82.7 m93.9 m95 m96.6 m101.2 m107.9 m

Goodwill

177.9 m186.8 m187.6 m239.9 m237.4 m239.8 m257.3 m409.4 m406.2 m408.4 m409.1 m410.9 m

Total Assets

1.2 b1.2 b1.2 b1.2 b1.3 b1.3 b1.3 b1.5 b1.5 b1.5 b1.5 b1.3 b

Accounts Payable

28.8 m24.6 m23.5 m24.7 m23 m35.4 m23.2 m62.9 m62.2 m63.4 m68.7 m62 m

Short-term debt

20.6 m30.6 m8.6 m60.5 m55.5 m70.5 m110.5 m240.5 m230.5 m242.2 m250.4 m104.5 m

Current Liabilities

272.2 m297.8 m269.5 m321 m355.4 m360 m354.9 m491.8 m489.8 m488.1 m519 m344 m

Long-term debt

102.3 m102.2 m102.1 m101.6 m101.4 m101.4 m126 m200.9 m200.7 m200.2 m200.1 m200 m

Total Debt

122.9 m132.7 m110.7 m162.2 m156.9 m171.9 m236.5 m441.4 m431.2 m442.4 m450.5 m304.4 m

Common Stock

15.5 m17.3 m19.1 m20.1 m23.3 m24.6 m26 m28.2 m31 m32.8 m35.2 m35.7 m

Retained Earnings

748.4 m761.3 m773.5 m808.2 m793.5 m802.3 m813.2 m819.7 m824.2 m810.1 m806.9 m785 m

Total Equity

734.6 m751.6 m772.5 m773.3 m742.7 m770.7 m741.8 m741.4 m727.1 m666.1 m672 m661.5 m

Financial Leverage

1.6 x1.6 x1.5 x1.6 x1.7 x1.7 x1.7 x2 x2 x2.2 x2.2 x2 x

Cash Flow

Annual

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

Net Income

20 m69.6 m22.9 m1.7 m(11.2 m)

Depreciation and Amortization

25.4 m30.4 m37.7 m34.1 m51.1 m

Accounts Receivable

(15 m)(4.3 m)(2.2 m)(40 m)

Inventories

(4.2 m)20.6 m(22 m)66.4 m(18.9 m)

Accounts Payable

(27.6 m)6.5 m25.6 m81.2 m10.9 m

Cash From Operating Activities

(13.3 m)114.8 m89.7 m24.7 m

Purchases of PP&E

(9.1 m)(16.6 m)(22.2 m)(36.9 m)

Cash From Investing Activities

(76.8 m)(97.2 m)(125.1 m)(42.5 m)

Long-term Borrowings

(978 k)

Dividends Paid

(6.4 m)(6.4 m)(7.3 m)(7.3 m)

Cash From Financing Activities

77 m(9.8 m)73.3 m(129.8 m)

Income Taxes Paid

(19 m)(9.8 m)8.8 m8.2 m

Quarterly

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

Net Income

8.4 m16.1 m12.2 m5.2 m(11 m)8.8 m(5.4 m)10.1 m4.5 m(2.9 m)461 k

Depreciation and Amortization

5.7 m5.9 m8.5 m8.7 m6.5 m8.5 m9.7 m9.4 m7.9 m

Accounts Payable

23.2 m62.9 m62.2 m63.4 m68.7 m

Cash From Operating Activities

(14.6 m)

Purchases of PP&E

(13.2 m)

Cash From Investing Activities

(15.5 m)

Dividends Paid

(3.6 m)

Cash From Financing Activities

13.9 m

Income Taxes Paid

2.4 m5.8 m5 m695 k33.6 m

Ratios

USDY, 2017

EV/EBIT

109.6 x

EV/CFO

77.6 x

Revenue/Employee

174.8 k

Debt/Equity

0.3 x

Debt/Assets

0.1 x

Financial Leverage

1.9 x
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