RBC Bearings Financials

$164.3 M

Revenue Q2, 2018

$3 B

Mkt cap, 16-Feb-2018
Gross profit (Q2, 2018)61.8 M
Gross profit margin (Q2, 2018), %37.6%
Net income (Q2, 2018)14.8 M
EBIT (Q2, 2018)25.3 M
Cash, 30-Sep-201742.9 M
EV3 B

Revenue/Financials

Income Statement

Annual

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

Revenue

418.9 m445.3 m597.5 m615.4 m

Revenue growth, %

6%34%3%

Cost of goods sold

254.1 m275.1 m378.7 m385.8 m

Gross profit

164.8 m170.1 m218.8 m229.6 m

Gross profit Margin, %

39%38%37%37%

General and administrative expense

102.9 m

Operating expense total

102.9 m

EBIT

88.7 m88.4 m103.8 m113.7 m

EBIT margin, %

21%20%17%18%

Interest expense

1 m1.1 m8.7 m8.7 m

Pre tax profit

87.8 m84.6 m94.8 m104.9 m

Income tax expense

27.5 m26.3 m30.9 m34.3 m

Net Income

60.2 m58.2 m63.9 m70.6 m

Quarterly

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

Revenue

102 m100.5 m113 m112.6 m106.3 m142.3 m148.7 m144.2 m153.9 m154.6 m146.7 m163.9 m164.3 m

Cost of goods sold

61.4 m62.1 m69.2 m72.8 m64.7 m89.5 m96.6 m90.7 m97.2 m97.3 m94.3 m102 m102.5 m

Gross profit

40.6 m38.5 m43.8 m39.8 m41.7 m52.8 m52.1 m53.5 m56.7 m57.3 m52.4 m61.9 m61.8 m

Gross profit Margin, %

40%38%39%35%39%37%35%37%37%37%36%38%38%

General and administrative expense

17.1 m18.3 m19 m18.5 m19.3 m23.7 m24.9 m23.9 m25.2 m25.8 m25.7 m27.8 m27.6 m

Operating expense total

19.1 m18.8 m19.6 m21.5 m21.1 m30.4 m28.5 m26.5 m27.2 m28 m31.9 m30.1 m36.5 m

EBIT

21.5 m19.7 m24.2 m18.3 m20.6 m22.4 m23.6 m27.1 m29.6 m29.2 m20.5 m31.8 m25.3 m

EBIT margin, %

21%20%21%16%19%16%16%19%19%19%14%19%15%

Interest expense

253 k276 k224 k308 k288 k1.7 m2.3 m2.2 m2.3 m2.3 m2.1 m2 m1.9 m

Pre tax profit

21.3 m19.3 m24.3 m18.2 m20.2 m20 m21.9 m24.9 m27.2 m26.8 m18.6 m29.4 m23.3 m

Income tax expense

7.2 m6.6 m8.2 m5 m6.1 m6.6 m7.4 m7.8 m8.9 m8.8 m5.9 m7.6 m8.5 m

Net Income

14.1 m12.8 m16 m13.2 m14.1 m13.4 m14.5 m17 m18.2 m18 m12.8 m21.8 m14.8 m

Balance Sheet

Annual

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

Cash

121.2 m125.5 m39.2 m38.9 m

Accounts Receivable

Inventories

7.6 m4.6 m6.9 m289.6 m

Current Assets

417.5 m425.4 m429 m448 m

PP&E

137.2 m141.6 m184.7 m183.6 m

Goodwill

43.5 m43.4 m267.3 m268 m

Total Assets

621 m632.1 m1.1 b1.1 b

Accounts Payable

24.3 m23.5 m35.6 m34.4 m

Short-term debt

1.3 m1.2 m10.5 m14.2 m

Current Liabilities

42.8 m42 m88.3 m93.1 m

Long-term debt

Total Debt

14.2 m

Total Liabilities

391.8 m

Additional Paid-in Capital

246.2 m262.1 m279.4 m312.5 m

Retained Earnings

301.9 m314.2 m378.1 m448.7 m

Total Equity

538.5 m620.9 m717 m

Debt to Equity Ratio

0 x

Debt to Assets Ratio

0 x

Financial Leverage

1.2 x1.8 x1.5 x

Quarterly

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

Cash

110.2 m116 m102.2 m109.4 m119.2 m61.6 m44.1 m44.4 m37.5 m37.3 m39.5 m45.5 m42.9 m

Inventories

193.2 m198.4 m201.4 m199.3 m205.2 m255.5 m262.9 m274.5 m287.2 m284.3 m287.4 m292.4 m297.3 m

Current Assets

393.1 m403.3 m397.3 m403.6 m413.4 m438.7 m424.7 m428.5 m437.4 m431.1 m437.2 m459.1 m457.9 m

PP&E

127.3 m133.8 m136.9 m138.7 m138.8 m185.3 m184.1 m184 m184.8 m184.8 m181.1 m185.9 m186.7 m

Goodwill

40.3 m43.1 m43.5 m43.4 m43.4 m259.3 m269.9 m267.4 m268.1 m268.1 m268 m268.1 m268.1 m

Total Assets

582.7 m603 m600.5 m607 m617.2 m1.1 b1.1 b1.1 b1.1 b1.1 b1.1 b1.1 b1.1 b

Accounts Payable

25.8 m26.7 m23.5 m23.6 m22.9 m39.6 m37.1 m34.8 m35.5 m32.5 m37.2 m37.5 m38.5 m

Short-term debt

1.3 m1.3 m1.3 m1.2 m1.2 m8.7 m8.7 m8.7 m11.7 m10.5 m13 m15.5 m16.7 m

Current Liabilities

47.6 m47.1 m47.5 m46.3 m45.2 m82.9 m76.1 m72.7 m83.1 m85.6 m91.2 m101.6 m97.9 m

Long-term debt

9.2 m9.4 m

Total Debt

10.5 m10.7 m1.3 m1.2 m1.2 m8.7 m8.7 m8.7 m11.7 m10.5 m13 m15.5 m16.7 m

Total Liabilities

83.9 m85.9 m87 m86 m84.5 m539.2 m520.8 m503.5 m437.4 m453.9 m412.2 m368.9 m345.3 m

Additional Paid-in Capital

238.9 m243.6 m252.7 m256 m259.2 m266.9 m270.2 m275.9 m293.2 m289.8 m304.8 m321.8 m325.5 m

Retained Earnings

271 m283.7 m271.9 m285.2 m299.2 m327.6 m342.1 m359.1 m414.3 m396.1 m427.1 m471.6 m486.5 m

Total Equity

498.8 m517.2 m513.6 m520.9 m532.8 m566.9 m575.7 m595.4 m666.1 m644.8 m685.5 m751.7 m769.3 m

Financial Leverage

1.2 x1.2 x1.2 x1.2 x1.2 x2 x1.9 x1.8 x1.7 x1.7 x1.6 x1.5 x1.4 x

Cash Flow

Annual

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

Net Income

60.2 m58.2 m63.9 m70.6 m

Depreciation and Amortization

15 m15 m25.8 m27.4 m

Accounts Receivable

(6 m)(2 m)(619 k)(7.3 m)

Inventories

(3.5 m)3.7 m(1.6 m)(9.1 m)

Accounts Payable

(3 m)(534 k)(2.8 m)(1.4 m)

Cash From Operating Activities

48 m71.8 m83.4 m101.2 m

Cash From Investing Activities

(47.1 m)(17.9 m)(520.1 m)(21.4 m)

Dividends Paid

(46 m)

Cash From Financing Activities

3.8 m(46.1 m)349.8 m(78.8 m)

Quarterly

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

Net Income

29.2 m42 m16 m29.3 m43.3 m13.4 m27.9 m45 m36.3 m18 m49 m21.8 m36.6 m

Depreciation and Amortization

7.6 m11.3 m4.1 m8.1 m11.8 m5.7 m12.5 m19.2 m13.7 m6.7 m20.5 m7.1 m14.2 m

Accounts Receivable

(2.7 m)2.2 m2.5 m2.8 m7.9 m(54 k)4.1 m10.8 m(1.1 m)622 k4 m(2.3 m)396 k

Inventories

(12.9 m)(17.5 m)(3.1 m)(6.3 m)(13 m)(3.3 m)(9.5 m)(21.3 m)(5.7 m)(3.9 m)(7.3 m)(1.5 m)(6.8 m)

Accounts Payable

(1 m)(553 k)(804 k)(560 k)(1 m)1.1 m(1.2 m)(3.5 m)(399 k)(3 m)1.5 m3 m4.1 m

Cash From Operating Activities

21.5 m36 m26.9 m44.7 m62.4 m22.2 m40.3 m61.8 m38.5 m19.2 m74.6 m39.8 m64 m

Cash From Investing Activities

(28.9 m)(40.8 m)(3.5 m)(8.5 m)(12.9 m)(505.3 m)(509.8 m)(514.6 m)(10.3 m)(5.2 m)(15 m)(5.7 m)(12.6 m)

Dividends Paid

(46 m)(46 m)(46 m)

Cash From Financing Activities

1.6 m4.2 m(42.3 m)(45.3 m)(46.7 m)418.2 m388.5 m371.1 m(30 m)(15.9 m)(57.7 m)(28.8 m)(47.4 m)

Ratios

USDY, 2017

EV/EBIT

118.2 x

EV/CFO

46.7 x

Financial Leverage

1.4 x
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