Lifeway Foods Financials

$28.8 M

Revenue Q3, 2017

$92 M

Mkt cap, 20-Apr-2018
Gross profit (Q3, 2017)8.5 M
Gross profit margin (Q3, 2017), %29.4%
Net income (Q3, 2017)243 K
EBIT (Q3, 2017)514 K
Cash, 30-Sep-20177.3 M
EV91.2 M

Revenue/Financials

Income Statement

Annual

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

Revenue

97.5 m119 m118.6 m123.9 m

Revenue growth, %

22%0%4%

Cost of goods sold

87.6 m84.6 m86.5 m

Gross profit

31.4 m34 m37.4 m

Gross profit Margin, %

26%29%30%

Sales and marketing expense

14.5 m12.8 m14.5 m

General and administrative expense

9.4 m13.7 m13.8 m

Operating expense total

23.9 m26.5 m28.3 m

EBIT

8 m4.2 m4.4 m6.1 m

EBIT margin, %

8%4%4%5%

Interest expense

276.9 k236 k220 k

Pre tax profit

4.2 m4 m5.6 m

Income tax expense

2.2 m2 m2.2 m

Net Income

5 m2 m2 m3.5 m

Quarterly

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

Revenue

29.6 m29.8 m29.6 m32.6 m31.1 m30 m32.1 m31.7 m28.8 m

Cost of goods sold

20.6 m22.2 m19.9 m23.4 m20.3 m21.5 m23.1 m21.9 m20.3 m

Gross profit

9 m7.6 m9.7 m9.2 m10.8 m8.5 m9 m9.9 m8.5 m

Gross profit Margin, %

30%26%33%28%35%28%28%31%29%

Sales and marketing expense

4.2 m2.6 m2.7 m2.9 m3.5 m4.3 m4 m

General and administrative expense

2.6 m4.2 m4.1 m4.4 m3.5 m3.3 m3.8 m3.1 m

Operating expense total

7 m7 m7 m7.5 m7.1 m7.8 m8.2 m7.4 m7.3 m

Depreciation and amortization

168 k

EBIT

1.4 m49.1 k2.1 m1.1 m3 m189 k266 k1.9 m514 k

EBIT margin, %

5%0%7%3%10%1%1%6%2%

Interest expense

65.3 k58.4 k55.7 k58 k47 k56 k57 k61 k62 k

Pre tax profit

1.3 m218.5 k1.8 m1.1 m2.9 m17 k204 k1.8 m418 k

Income tax expense

650.5 k119.6 k926.6 k411 k789 k81 k80 k801 k175 k

Net Income

653.7 k98.9 k892.9 k648 k2.1 m(64 k)124 k1 m243 k

Balance Sheet

Annual

usdY, 2010Y, 2011Y, 2012FY, 2013FY, 2014FY, 2015FY, 2016

Cash

3.2 m1.1 m2.3 m3.3 m3.3 m5.6 m8.8 m

Accounts Receivable

295.3 m134.3 k45 k71.5 m

Inventories

39.8 m5.8 m7.7 m8 m

Current Assets

24.2 m26.8 m28.2 m

PP&E

21.9 m21.4 m21.8 m

Goodwill

14.1 m

Total Assets

63.4 m64.9 m65.9 m

Accounts Payable

72 m5.6 m7.1 m5.7 m

Short-term debt

872.3 k840 k840 k

Current Liabilities

8.5 m10.8 m9.4 m

Long-term debt

8.1 m7.1 m6.3 m

Total Debt

9 m8 m7.1 m

Total Liabilities

17.5 m

Retained Earnings

44.5 m46.5 m50 m

Total Equity

44.7 m45.3 m48.4 m

Debt to Equity Ratio

0.2 x0.2 x0.1 x

Debt to Assets Ratio

0.1 x0.1 x0.1 x

Financial Leverage

1.4 x1.4 x1.4 x

Quarterly

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

Cash

3.8 m5.9 m5 m3.8 m6.1 m9.2 m9.8 m9.3 m7.3 m

Accounts Receivable

118.4 k28.8 k37.9 k(814 k)

Inventories

6.3 m6.3 m6.9 m8.3 m9.3 m9.2 m7.6 m8.1 m8.1 m

Current Assets

24.3 m27.1 m26.6 m26.6 m29 m30.4 m30.6 m29.5 m27.5 m

PP&E

22.3 m22 m21.6 m21.1 m21.3 m21.6 m22.3 m23 m23.9 m

Goodwill

14.1 m14.1 m14.1 m

Total Assets

63.8 m66.1 m65.1 m64.2 m66.6 m68.2 m68.6 m68 m66.8 m

Accounts Payable

4.1 m5.7 m5.2 m7.3 m6.7 m8.8 m8.3 m6.3 m7.1 m

Short-term debt

840 k840 k840 k840 k840 k840 k840 k3.4 m3.3 m

Current Liabilities

8.6 m11.3 m9.6 m10 m10.5 m11.9 m12.6 m13.6 m13.3 m

Long-term debt

7.9 m7.5 m7.3 m6.9 m6.7 m6.5 m6.1 m3.3 m3.2 m

Total Debt

8.7 m8.4 m8.2 m7.7 m7.5 m7.3 m6.9 m6.7 m6.5 m

Total Liabilities

18.4 m20.6 m18.7 m18.7 m18.9 m20.5 m20.1 m18.4 m18.1 m

Retained Earnings

45.2 m45.3 m46.2 m47.2 m49.6 m49.5 m50.1 m51.2 m51.4 m

Total Equity

45.4 m45.5 m46.3 m45.5 m47.7 m47.7 m48.5 m49.6 m48.6 m

Debt to Equity Ratio

0.1 x

Debt to Assets Ratio

0.1 x

Financial Leverage

1.4 x1.5 x1.4 x1.4 x1.4 x1.4 x1.4 x1.4 x1.4 x

Cash Flow

Annual

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

Net Income

2 m2 m3.5 m

Depreciation and Amortization

3.3 m3.1 m3 m

Accounts Receivable

103.3 k54.9 k537 k292 k

Inventories

6.9 m1.1 m(1.8 m)(579 k)

Accounts Payable

6.7 m(1.1 m)1.6 m(2.7 m)

Cash From Operating Activities

1 m(46.4 k)2.4 m5.1 m

Purchases of PP&E

(3.7 m)(2 m)(3.2 m)

Cash From Investing Activities

(4.3 m)(1.8 m)(360 k)

Dividends Paid

(1.3 m)

Cash From Financing Activities

(877.2 k)(2.6 m)(1.6 m)

Interest Paid

235 k220 k

Income Taxes Paid

2.2 m1.4 m

Quarterly

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

Net Income

653.7 k752.6 k1.6 m648 k3.1 m3 m124 k1.2 m

Depreciation and Amortization

769.5 k1.6 m2.3 m807 k1.6 m2.3 m754 k1.5 m

Accounts Receivable

89.1 k91.6 k56.7 k26.7 k(32.9 k)(166.8 k)(540.2 k)(584 k)(532 k)(823 k)(2.6 m)(793 k)

Inventories

8.4 m7.4 m6.8 m7.1 m(513.1 k)(475.6 k)(1.1 m)(627 k)(1.6 m)(1.6 m)363 k(185 k)

Accounts Payable

5.4 m7 m6.5 m7.3 m(1.5 m)138.5 k(396.2 k)(1.1 m)(1.7 m)370 k2.6 m564 k

Cash From Operating Activities

2.1 m4.7 m4.4 m(1 m)1.9 m4.5 m2.3 m3.3 m

Purchases of PP&E

(1 m)(1.4 m)(1.6 m)(336 k)(1.4 m)(2.5 m)(1.1 m)(2.4 m)

Cash From Investing Activities

(1.3 m)(1.5 m)(1.8 m)(194 k)(285 k)373 k(1 m)(2.4 m)

Cash From Financing Activities

(271.2 k)(827.5 k)(650 k)(1.2 m)(1.4 m)(210 k)(420 k)

Interest Paid

65.1 k124 k177.5 k58 k105 k162 k57 k118 k

Income Taxes Paid

40 k1.1 m1.1 m886 k886 k886 k1.5 m

Ratios

USDY, 2017

EV/EBIT

177.4 x

EV/CFO

27.4 x

Debt/Equity

0.1 x

Debt/Assets

0.1 x

Financial Leverage

1.4 x
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Operating Metrics

Lifeway Foods's Stores was reported to be 3 in FY, 2016.
FY, 2014FY, 2015FY, 2016

Products

50 50

Manufacturing Facilities

4 4

Distribution Centers

1 1

Stores

3

Trademarks (US)

25 20 30
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