$1.2 B

KEM Mkt cap, 04-Dec-2018
Kemet Net income (Q2, 2019)37.1 M
Kemet EBIT (Q2, 2019)50 M
Kemet Cash, 30-Sep-2018263 M
Kemet EV1.2 B

Kemet Revenue

Kemet revenue was $1.20 b in FY, 2018 which is a 58% year over year increase from the previous period.

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Kemet Revenue Breakdown

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Kemet revenue breakdown by business segment: 18.9% from MSA, 16.8% from Film and Electrolytic and 64.3% from Solid Capacitors

Kemet revenue breakdown by geographic segment: 14.2% from Japan , 6.6% from Taiwan , 13.6% from China , 5.3% from Europe , 8.8% from Germany, 14.1% from Hong Kong, 19.4% from United States and 18.0% from Other

Kemet Income Statement

Annual

USDFY, 2014FY, 2016FY, 2017FY, 2018

Revenue

833.7m734.8m757.8m1.2b

Revenue growth, %

58%

Cost of goods sold

712.9m571.5m571.7m859.5m

Gross profit

120.7m163.3m186.1m340.4m

Gross profit Margin, %

14%22%25%28%

R&D expense

24.5m25.0m27.6m39.6m

General and administrative expense

95.9m101.4m107.9m173.6m

Operating expense total

851.9m702.5m723.3m227.1m

EBIT

(18.2m)32.3m34.5m113.3m

EBIT margin, %

(2%)4%5%9%

Interest expense

41.0m39.6m39.8m32.9m

Interest income

195.0k14.0k24.0k809.0k

Pre tax profit

187.5m

Income tax expense

1.5m6.0m4.3m9.2m

Net Income

(68.5m)(53.6m)48.0m254.5m

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019

Revenue

212.7m207.3m212.9m215.3m201.3m188.0b186.1m177.2m184.9m187.3m188.0m274.0m301.5m881.9m327.6m

Cost of goods sold

182.5m169.7m179.9m169.5m156.8m148.0b143.3m138.4m142.4m140.9m140.7m197.3m216.4m629.9m232.8m235.7m

Gross profit

30.2m37.7m33.0m45.8m44.5m40.0b42.8m38.7m42.5m46.4m47.3m76.7m85.1m252.0m94.8m

Gross profit Margin, %

14%18%15%21%22%21%23%22%23%25%25%28%28%29%29%

R&D expense

5.9m6.0m6.6m6.3m6.3m6.3b6.2m6.1m6.9m7.1m7.1m9.4m9.7m29.1m10.7m11.0m

General and administrative expense

22.7m22.4m24.8m25.5m23.4m30.4b22.9m22.3m25.9m26.0m26.7m37.9m42.4m125.8m48.5m52.3m

Operating expense total

212.4m203.7m213.5m202.5m192.0m186.0b172.1m168.7m176.0m184.3m174.2m246.2m269.8m790.4m292.4m299.2m

EBIT

309.0k3.6m(606.0k)12.8m9.3m1.2b14.0m8.5m8.9m3.1m13.9m27.8m31.6m91.5m35.2m50.0m

EBIT margin, %

0%2%0%6%5%1%8%5%5%2%7%10%10%10%11%

Interest expense

9.9m10.3m10.5m10.3m9.9m10.0b9.8m9.9m9.9m9.9m9.9m11.0m7.4m25.7m7.0m7.3m

Interest income

11.0k7.0k3.0k3.0k5.0k3.0m3.0k4.0k3.0k6.0k5.0k66.0k95.0k413.0k378.0k375.0k

Income tax expense

1.3m1.0m1.3m2.6m1.4m(248.0m)(1.4m)(2.8m)(1.8m)830.0k1.8m1.2m2.9m6.1m4.6m2.0m

Net Income

(13.1m)(5.8m)(3.5m)6.3m70.0(810.0)160.0(190.0)(5.0m)12.3m220.6m12.8m252.1m35.2m37.1m

Kemet Balance Sheet

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

57.9m56.4m65.0m109.8m286.8m

Accounts Receivable

98.9m90.9m93.2m92.5m144.1m

Inventories

148.0m204.4m

Current Assets

400.6m371.3m352.5m379.0m676.5m

PP&E

292.6m249.6m241.8m209.3m405.3m

Goodwill

35.6m35.6m40.3m40.3m40.3m

Total Assets

843.7m752.8m702.5m734.5m1.2b

Accounts Payable

74.8m69.8m71.0m69.7m140.0m

Short-term debt

7.3m962.0k2.0m2.0m20.5m

Current Liabilities

166.8m132.2m123.8m130.1m284.9m

Long-term debt

391.3m390.4m388.6m386.2m304.1m

Total Debt

398.6m391.4m390.6m388.2m324.6m

Total Liabilities

755.3m

Common Stock

566.0k

Additional Paid-in Capital

465.0m461.2m452.8m447.7m462.7m

Retained Earnings

(231.7m)(245.9m)(299.5m)(251.7m)2.7m

Total Equity

221.9m164.7m112.5m154.7m463.0m

Debt to Equity Ratio

1.8 x2.4 x3.5 x2.5 x0.7 x

Debt to Assets Ratio

0.5 x0.5 x0.6 x0.5 x0.3 x

Financial Leverage

3.8 x4.6 x6.2 x4.7 x2.6 x

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019

Cash

57.7m55.6m58.4m51.6m55.6m31.1m37.3m43.2m52.9m74.8m87.4m225.6m253.7m284.2m244.6m263.0m

Accounts Receivable

103.4m93.5m100.6m95.6m92.5m96.1m93.1m89.3m89.1m88.1m82.5m137.6m139.0m140.2m160.7m157.0m

Inventories

208.8m200.9m189.4m188.8m187.6m183.5m183.7m175.1m167.9m165.0m154.5m192.0m200.2m201.1m206.0m213.3m

Current Assets

417.1m403.8m396.9m382.8m381.2m366.0m365.4m348.3m340.9m358.8m348.4m607.0m639.2m664.0m650.7m669.6m

Goodwill

35.6m35.6m35.6m35.6m35.6m40.3m40.3m40.3m40.3m40.3m40.3m40.3m40.3m40.3m40.3m40.3m

Total Assets

880.2m862.3m838.6m817.2m799.7m749.8m738.9m707.0m671.0m677.0m662.5m1.1b1.1b1.2b1.2b1.2b

Accounts Payable

80.9m71.6m83.6m72.6m62.1m76.8m70.1m63.7m66.8m64.1m62.3m135.9m138.4m133.3m143.1m138.3m

Short-term debt

29.8m27.7m27.4m25.8m12.5m6.0m5.0m5.0m20.4m20.4m20.4m20.4m20.6m

Current Liabilities

199.4m184.6m182.0m165.2m133.7m139.4m132.3m114.1m108.9m122.4m109.8m245.7m254.4m266.6m267.2m258.1m

Long-term debt

299.8m296.1m

Total Debt

29.8m27.7m27.4m25.8m12.5m6.0m5.0m5.0m20.4m20.4m20.4m320.2m316.6m

Additional Paid-in Capital

465.7m466.3m461.2m461.5m462.6m453.1m453.8m452.8m444.8m445.7m446.0m447.1m458.7m460.1m461.3m465.5m

Retained Earnings

(211.5m)(217.3m)(235.3m)(228.9m)(226.0m)(282.9m)(275.7m)(284.3m)(311.8m)(316.8m)(304.6m)(31.2m)(18.4m)242.0k38.6m75.7m

Total Equity

237.9m130.5m130.3m124.4m88.4m82.9m90.4m385.3m416.1m438.0m469.0m512.6m

Debt to Equity Ratio

0.1 x0 x0 x0 x0.1 x0 x0 x0.7 x0.6 x

Debt to Assets Ratio

0 x0 x0 x0 x0 x0 x0 x0 x0 x0 x0 x0.3 x0.3 x

Financial Leverage

3.7 x5.7 x5.7 x5.7 x7.6 x8.2 x7.3 x2.9 x2.8 x2.7 x2.5 x2.4 x

Kemet Cash Flow

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Net Income

(68.5m)(14.1m)(53.6m)48.0m254.5m

Depreciation and Amortization

49.5m40.8m39.0m37.3m49.8m

Accounts Receivable

(4.6m)8.2m(2.3m)(12.0k)30.1m

Inventories

14.9m8.6m3.3m16.8m(13.8m)

Accounts Payable

(2.1m)(2.9m)(6.0m)6.2m(16.1m)

Cash From Operating Activities

(6.7m)24.4m32.4m71.7m120.9m

Cash From Investing Activities

(25.3m)3.6m(20.6m)(25.6m)102.4m

Long-term Borrowings

(399.8m)

Cash From Financing Activities

(6.9m)(26.9m)(3.8m)(125.0k)(55.8m)

Net Change in Cash

167.4m

Interest Paid

44.9m

Income Taxes Paid

5.5m6.6m4.9m4.2m7.1m

Free Cash Flow

(38.9m)2.2m11.9m46.1m55.9m

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019

Net Income

(13.1m)(5.8m)(3.5m)6.3m70.0(810.0)160.0(190.0)(5.0m)12.3m220.6m233.5m252.1m35.2m72.4m

Depreciation and Amortization

19.2m28.9m12.2m25.6m36.7m13.1m25.6m

Accounts Receivable

100.6m95.6m92.5m96.1m93.1m89.3m89.1m88.1m82.5m

Accounts Payable

83.6m72.6m62.1m76.8m70.1m63.7m66.8m64.1m62.3m

Cash From Operating Activities

(10.9m)(557.0k)10.3m40.1m82.7m(15.8m)33.0m

Cash From Investing Activities

(11.9m)(16.1m)159.8m149.9m140.2m(15.2m)(40.7m)

Long-term Borrowings

(481.0k)(481.0k)

Cash From Financing Activities

3.4m3.3m(55.2m)(47.7m)(51.6m)(4.0m)(7.6m)

Free Cash Flow

(20.2m)(14.7m)3.0m22.2m51.8m(31.9m)(7.5m)

Kemet Ratios

USDY, 2018

EV/EBIT

24.6 x

EV/CFO

37.3 x

EV/FCF

-164.6 x

Debt/Equity

0.6 x

Debt/Assets

0.3 x

Financial Leverage

2.4 x
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Kemet Operating Metrics

Kemet's Units Shipped was reported to be 26 b in Q3, 2015.
Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017Nov, 2016Q3, 2017FY, 2017

Manufacturing Facilities

21 21 20 21 17

New Product Launches

276 1.31 k1.83 k2.85 k925 22.01 k22.57 k23.29 k1.81 k5.85 k11.54 k12.62 k

Patents (Foreign)

47 47 66

Patents (US)

127 124 135

Trademarks (US)

7 7 7

Trademarks (foreign)

124 114 112

Units Shipped

9 b18 b26 b
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Kemet Employee Rating

3.541 votes
Culture & Values
3.2
Work/Life Balance
3.2
Senior Management
2.9
Salary & Benefits
3.3
Career Opportunities
2.9
Source