Park Sterling (PSTB) Financials

$656.8 M

Mkt cap, 24-Nov-2017

$38.4 M

Revenue Q2, 2017
Gross profit (Q2, 2017)34 M
Gross profit margin (Q2, 2017), %88.6%
Net income (Q2, 2017)8.5 M
EBIT (Q2, 2017)28.6 M
Cash, 30-Jun-201735.5 M
EV996 M

Revenue/Financials

Income Statement

Annual

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

Revenue

78.8 m85.3 m89.3 m140.9 m

Revenue growth, %

8%5%58%

Cost of goods sold

6.4 m7.7 m7.9 m14.5 m

Gross profit

72.4 m77.6 m81.4 m126.4 m

Gross profit Margin, %

92%91%91%90%

EBIT

71.7 m78.9 m80.7 m102.4 m

EBIT margin, %

91%93%90%73%

Interest income

72.4 m77.6 m81.4 m105 m

Pre tax profit

22.7 m18.9 m24.7 m29.6 m

Income tax expense

7.4 m6.1 m8.1 m9.6 m

Net Income

15.3 m12.9 m16.6 m19.9 m

Quarterly

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

Revenue

23 m22.7 m25.2 m25.7 m26.7 m26.8 m27.4 m34.9 m35.1 m34.9 m36.3 m38.4 m

Cost of goods sold

1.4 m1.9 m2.1 m1.9 m1.8 m1.8 m2.1 m3.6 m3.6 m3.6 m3.8 m4.4 m

Gross profit

21.6 m20.8 m23.1 m23.9 m24.9 m24.9 m25.3 m31.3 m31.4 m31.3 m32.5 m34 m

Gross profit Margin, %

94%91%92%93%93%93%92%90%90%90%90%89%

Sales and marketing expense

8.6 m9.2 m9.7 m10.2 m10.4 m10 m10 m13 m11.8 m11.8 m11.5 m11.4 m

General and administrative expense

1.9 m2 m2.2 m3.5 m2.6 m2.5 m2.6 m3.1 m3 m3.1 m2.9 m2.9 m

Operating expense total

15.7 m15.7 m18.3 m20.6 m19.1 m18.2 m18.4 m26.2 m21.9 m21.1 m20.6 m21.4 m

EBIT

18.7 m17.3 m19.4 m21.2 m20.2 m20.5 m20.4 m26 m25.2 m25.2 m26.4 m28.6 m

EBIT margin, %

81%76%77%82%76%77%74%75%72%72%73%75%

Pre tax profit

6.3 m5 m5.2 m3.7 m5.6 m6.5 m6.9 m4.6 m8.6 m9.5 m11.2 m12.6 m

Income tax expense

2.1 m1.5 m1.8 m1.3 m1.8 m2.3 m2.1 m1.9 m3 m3.2 m3.7 m4.1 m

Net Income

4.2 m3.6 m3.4 m2.5 m3.8 m4.3 m4.8 m2.7 m5.6 m6.3 m7.5 m8.5 m

Balance Sheet

Annual

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

Cash

13.1 m16.5 m53.8 m34.2 m

Accounts Receivable

4.2 m4.5 m5.1 m6.8 m

PP&E

55.9 m59.2 m55.7 m63.1 m

Goodwill

26.4 m29.2 m29.2 m63.3 m

Total Assets

2 b2.4 b2.5 b3.3 b

Accounts Payable

412 k398 k515 k2.5 b

Short-term debt

996 k125 m185 m285 m

Long-term debt

55 m55 m30 m29.7 m

Total Debt

56 m180 m215 m314.7 m

Total Liabilities

2.9 b

Additional Paid-in Capital

222.6 m222.8 m222.6 m273.4 m

Retained Earnings

32.6 m

Total Equity

262.1 m275.1 m284.7 m355.8 m

Debt to Equity Ratio

0.2 x0.7 x0.8 x0.9 x

Debt to Assets Ratio

0 x0.1 x0.1 x0.1 x

Financial Leverage

7.5 x8.6 x8.8 x9.1 x

Quarterly

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

Cash

11.8 m14.2 m21.1 m16.5 m17.4 m17 m16.1 m34 m33.3 m35.1 m40.1 m35.5 m

Inventories

2.5 b2.5 b

PP&E

56.7 m55.9 m59.4 m59.3 m58.8 m59 m56.9 m65.5 m65.7 m64.6 m62.4 m62.8 m

Goodwill

26.6 m26.4 m29.8 m30 m29.2 m29.2 m29.2 m63.7 m63 m63.3 m63.3 m

Total Assets

1.9 b2 b2.2 b2.3 b2.4 b2.4 b2.5 b3.2 b3.2 b3.2 b3.3 b3.3 b

Accounts Payable

1.6 b1.6 b1.9 b1.9 b1.9 b1.9 b1.9 b2.5 b2.5 b2.5 b2.5 b2.5 b

Short-term debt

2.7 m2.3 m8.6 m125 m180 m130 m170 m200 m280 m340 m345 m

Long-term debt

75 m55 m55 m140 m55 m55 m55 m65 m64.7 m29.7 m29.7 m29.8 m

Total Debt

77.7 m57.3 m63.6 m140 m180 m235 m185 m235 m264.7 m309.7 m369.7 m374.8 m

Total Liabilities

1.7 b1.7 b2 b2.1 b2.1 b2.2 b2.2 b2.8 b2.8 b2.9 b2.9 b3 b

Additional Paid-in Capital

222.6 m222.4 m222.2 m222.5 m223.1 m222.3 m222.6 m274.7 m275.2 m275.3 m273.3 m273.4 m

Retained Earnings

(3.5 m)14.3 m17.7 m21.3 m25.2 m29.4 m38 m44.4 m

Total Equity

259.8 m266 m269.9 m271.1 m279.1 m279.7 m284.2 m349.5 m354.5 m358.7 m361.7 m369.3 m

Financial Leverage

7.5 x7.5 x8.3 x8.6 x8.6 x8.7 x8.7 x9 x9 x9 x9.1 x9 x

Cash Flow

Annual

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

Net Income

15.3 m12.9 m16.6 m19.9 m

Accounts Payable

(104 k)(1.6 m)

Cash From Operating Activities

32.8 m13.9 m

Purchases of PP&E

(54.8 m)(15 m)

Cash From Investing Activities

(84.6 m)

Cash From Financing Activities

(77.2 m)53.7 m

Interest Paid

6.5 m7.7 m

Income Taxes Paid

240 k701 k

Quarterly

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

Net Income

4.2 m3.6 m3.4 m2.5 m3.8 m8.1 m12.8 m2.7 m8.3 m14.6 m7.5 m16 m

Accounts Receivable

4.5 m4.5 m4.7 m4.9 m5 m6.6 m96 k893 k6.4 m(2 k)

Accounts Payable

391 k385 k370 k(23 k)406 k912 k568 k901 k8 m

Cash From Operating Activities

16.3 m41.1 m7.1 m5.1 m10.6 m46.9 m

Purchases of PP&E

(7.4 m)(7.6 m)

Cash From Investing Activities

(129.7 m)(14.1 m)(61.9 m)(68 m)(84 m)

Long-term Borrowings

(45.5 m)(34.1 m)

Cash From Financing Activities

74.9 m95.4 m6.4 m60.2 m47.6 m45.1 m

Interest Paid

3.6 m5.7 m7.2 m10.4 m3.4 m8 m

Income Taxes Paid

338 k400 k760 k760 k4.1 m7.8 m

Ratios

USDY, 2017

EV/EBIT

34.8 x

EV/CFO

21.2 x

Revenue/Employee

70.6 k

Financial Leverage

9 x
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Operating Metrics

Park Sterling's Total Loans was reported to be $2.5b in Q2, 2017.
FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017

Bank Branches

52 56 55

Non-accrual Loans

$5.59 m$6.40 m$5.55 m$5.34 m$4.33 m$6.60 m$5.18 m$8.62 m$8.82 m$9.61 m$9.37 m

Non-performing Loans

$8.90 m$8.25 m$12.94 m

Total Loans

$1.57 b$1.61 b$1.65 b$1.69 b$1.73 b$2.27 b$2.32 b$2.36 b$2.40 b$2.46 b$2.50 b
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