ITT Corporation Financials

645 M

Revenue Q3, 2017

4.5 B

Mkt cap, 13-Nov-2017
Gross profit (Q3, 2017)203.1 M
Gross profit margin (Q3, 2017), %31%
Net income (Q3, 2017)87 M
EBIT (Q3, 2017)127.8 M
Cash, 30-Sep-2017395.6 M
EV4.3 B

Financials

Market Value

Revenue/Financials

Income Statement

Annual

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

Revenue

2.5 b2.7 b2.5 b2.4 b

Revenue growth, %

6%(6%)(3%)

Cost of goods sold

1.7 b1.8 b1.7 b1.6 b

Gross profit

799.8 m866.4 m809.1 m758.2 m

Gross profit Margin, %

32%33%33%32%

Sales and marketing expense

216.2 m219.4 m183.2 m170 m

R&D expense

67.3 m76.6 m78.9 m80.8 m

General and administrative expense

299.9 m300.1 m258.3 m274.1 m

Operating expense total

616.2 m600 m429 m499.3 m

EBIT

183.6 m266.4 m380.1 m258.9 m

EBIT margin, %

7%10%15%11%

Interest expense

6.3 m4 m500 k

Interest income

5 m2.5 m2.2 m

Pre tax profit

180.5 m262 m382.3 m258.4 m

Income tax expense

(309.6 m)71.3 m70.1 m76 m

Net Income

490.9 m186.8 m351.6 m186.6 m

Quarterly

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

Revenue

588.7 m628.2 m601.9 m609.1 m626.2 m581.7 m625.8 m630.9 m645 m

Cost of goods sold

389.7 m414.3 m407 m413.8 m420.6 m397.8 m423.5 m426.5 m441.9 m

Gross profit

199 m213.9 m194.9 m195.3 m205.6 m183.9 m202.3 m204.4 m203.1 m

Gross profit Margin, %

34%34%32%32%33%32%32%32%31%

Sales and marketing expense

47.3 m48.8 m43.1 m43.3 m46 m39.4 m43.1 m43.9 m41.3 m

R&D expense

18.3 m18.9 m18 m19.2 m21.1 m18.6 m22.5 m22.6 m23.1 m

General and administrative expense

60.1 m66.5 m60.2 m69 m74 m59.2 m66.2 m65.3 m73.7 m

Operating expense total

141.1 m49.4 m91 m144.3 m156.1 m49.1 m146.7 m146.7 m138.1 m

EBIT

57.9 b164.5 m103.9 m51 m49.5 m134.8 m55.6 m57.7 m127.8 m

EBIT margin, %

9835%26%17%8%8%23%9%9%20%

Interest expense

1.2 m300 k1.7 m300 k800 k200 k

Interest income

4 m500 k900 k

Pre tax profit

56.7 m164.2 m107.9 m49.3 m50 m134.5 m54.8 m58.6 m127.6 m

Income tax expense

18.1 m23.5 m11.4 m11.7 m17.5 m46.1 m9.1 m10.6 m40.6 m

Net Income

42 m142.4 m130.7 m37.3 m33 m90.2 m45.6 m47.9 m87 m

Balance Sheet

Annual

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

Cash

507.3 m584 m415.7 m460.7 m

Accounts Receivable

496.7 m500.1 m584.9 m523.9 m

Inventories

315.9 m302.3 m292.7 m295.2 m

Current Assets

1.7 b1.6 b1.5 b1.4 b

PP&E

426.2 m443.9 m443.5 m464.5 m

Goodwill

659.8 m632.1 m778.3 m774.7 m

Total Assets

3.7 b3.6 b3.7 b3.6 b

Accounts Payable

332.7 m309.6 m314.7 m301.7 m

Short-term debt

245.7 m214.3 m

Current Liabilities

832.6 m775.4 m953.1 m866.2 m

Non-Current Liabilities

1.7 b1.6 b1.4 b1.3 b

Total Debt

245.7 m214.3 m

Total Liabilities

2.5 b2.4 b2.4 b2.2 b

Common Stock

91 m91 m89.5 m88.4 b

Retained Earnings

1.3 b1.4 b1.7 b1.8 b

Total Equity

1.2 b1.2 b1.4 b1.4 b

Debt to Equity Ratio

0.2 x0.2 x

Debt to Assets Ratio

0.1 x0.1 x

Financial Leverage

3.1 x3 x2.7 x2.5 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

570.1 m497.4 m504.9 m430.9 m433.3 m475.8 m348.5 m355.3 m395.6 m

Accounts Receivable

537.2 m558 m567.8 m607 m625.1 m595.2 m576.9 m591.1 m611.6 m

Inventories

287.6 m294.9 m299.7 m301.3 m299.3 m305.1 m311.5 m314.9 m327.9 m

Current Assets

1.6 b1.6 b1.6 b1.6 b1.5 b1.5 b1.4 b1.4 b1.5 b

PP&E

419.3 m421.4 m414.4 m443 m437.9 m450.3 m481.5 m491.2 m503.5 m

Goodwill

610.7 m625.6 m622.7 m787.6 m788.3 m784.8 m865.7 m883.9 m882.6 m

Total Assets

3.6 b3.6 b3.5 b3.8 b3.8 b3.7 b3.7 b3.7 b3.8 b

Accounts Payable

287.7 m299.2 m291.9 m293.5 m310 m304.4 m313.6 m315.2 m334.7 m

Short-term debt

113.5 m68.7 m10.5 m275.2 m219 m251.9 m213.1 m204.1 m191.1 m

Current Liabilities

834.5 m816 m717.2 m954 m916.3 m938.9 m885.8 m892.9 m925.4 m

Non-Current Liabilities

1.6 b1.5 b1.4 b1.4 b1.4 b1.3 b1.3 b1.3 b1.2 b

Total Debt

113.5 m68.7 m10.5 m275.2 m219 m251.9 m213.1 m204.1 m191.1 m

Total Liabilities

2.5 b2.3 b2.1 b2.4 b2.3 b2.3 b2.2 b2.2 b2.1 b

Common Stock

89.2 m89.4 m89.5 m90 m89.6 m88.3 m88.7 m88 m88 m

Retained Earnings

1.4 b1.5 b1.7 b1.7 b1.7 b1.8 b1.8 b1.8 b1.9 b

Total Equity

1.1 b1.3 b1.4 b1.4 b1.4 b1.5 b1.5 b1.5 b1.7 b

Debt to Equity Ratio

0.1 x0.1 x0 x0.2 x0.2 x0.2 x0.1 x0.1 x

Debt to Assets Ratio

0 x0 x0 x0.1 x0.1 x0.1 x0.1 x0.1 x

Financial Leverage

3.2 x2.8 x2.5 x2.7 x2.6 x2.6 x2.5 x2.4 x2.3 x

Cash Flow

Annual

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

Net Income

490.9 m186.8 m351.6 m186.6 m

Depreciation and Amortization

86.9 m88.3 m90 m102 m

Accounts Receivable

(60.7 m)(45.1 m)(72 m)22.5 m

Inventories

(11 m)(3.1 m)31.5 m(7.2 m)

Accounts Payable

4.5 m(5.8 m)11 m700 k

Cash From Operating Activities

226.6 m244.7 m229.7 m240.7 m

Capital Expenditures

(122.9 m)(118.8 m)(86.7 m)(111.4 m)

Cash From Investing Activities

(188.8 m)(15.5 m)(485.5 m)(54.4 m)

Short-term Borrowings

(38 m)(50 m)(78.3 m)

Long-term Borrowings

(6.4 m)(1.7 m)(3.6 m)(1.1 m)

Dividends Paid

(36.4 m)(40.7 m)(42.8 m)(44.6 m)

Cash From Financing Activities

(58.3 m)(116.6 m)120.4 m(141.9 m)

Net Change in Cash

(37.2 m)76.7 m(168.3 m)45 m

Interest Paid

900 k1.1 m4.3 m4.5 m

Income Taxes Paid

21.9 m70 m48.5 m56.1 m

Free Cash Flow

103.7 m125.9 m143 m129.3 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Net Income

42 m184.4 m315.1 m37.3 m70.3 m160.5 m45.6 m93.5 m180.4 m

Depreciation and Amortization

20.7 m41.9 m63.1 m25.3 m51.1 m76.5 m24.8 m50.4 m77.6 m

Accounts Receivable

(56.7 m)(71.8 m)(77.2 m)(21 m)(45.6 m)(13.9 m)(34.7 m)(35.6 m)(47.2 m)

Inventories

3.6 m2 m(6.3 m)(4 m)(3.7 m)(8.9 m)(1.6 m)2.3 m4.2 m

Accounts Payable

(500 k)4.5 m(400 k)(14.8 m)(4.3 m)(16.2 m)2.5 m(7.8 m)3.4 m

Cash From Operating Activities

8.2 m89.5 m147.1 m5.7 m71.6 m146.7 m27.1 m92.7 m178.4 m

Capital Expenditures

(30.2 m)(46 m)(64.2 m)(21 m)(46.1 m)(68.1 m)(53.3 m)(79.2 m)

Cash From Investing Activities

(40 m)(140.2 m)(111.4 m)(24.8 m)3.2 m(22.5 m)(150.1 m)(164.5 m)(189.3 m)

Short-term Borrowings

(27.7 m)(78.3 m)(78.3 m)(1.5 m)(100 m)(123.9 m)

Long-term Borrowings

(1.9 m)(2.1 m)(600 k)(800 k)(300 k)(700 k)(1.1 m)

Dividends Paid

(300 k)(11 m)(21.6 m)(11.4 m)(22.5 m)(22.6 m)(200 k)(11.6 m)(22.8 m)

Cash From Financing Activities

34 m(19.6 m)(90.2 m)16.9 m(67.8 m)(78.4 m)3.7 m(47.9 m)(75.3 m)

Net Change in Cash

(13.9 m)(86.6 m)(79.1 m)15.2 m17.6 m60.1 m(112.2 m)(105.4 m)(65.1 m)

Interest Paid

500 k1 m1.4 m2.4 m3.3 m1 m2.1 m2.8 m

Income Taxes Paid

(1 m)6.7 m24.7 m5 m15.2 m37.2 m13.2 m21.9 m39.6 m

Free Cash Flow

(22 m)43.5 m82.9 m(15.3 m)25.5 m78.6 m39.4 m99.2 m

Ratios

Y, 2017

EV/EBIT

33.8 x

EV/CFO

24.2 x

EV/FCF

43.6 x

Financial Leverage

2.3 x

Operating Metrics

ITT Corporation's Backlog was reported to be $785.3 m in FY, 2016, which is a 5% decrease from the previous period
FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017Q3, 2017

Countries

353535

Backlog (Industrial Process)

$603.4 m$601 m$540.3 m$475.9 m$410.9 m$381.7 m$367.3 m$370.8 m$347.2 m$385 m$373.7 m

Backlog

$1.02 b$828.1 m$785.3 m

Order Volume

$530.4 m$2.33 b$623.5 m$605.9 m$573.4 m$2.37 b$670.6 m$626.3 m$658.6 m