Schnitzer Steel Industries

Manufacturing & Industrial metal recycling

Founded in 1906 as a one-man scrap metal operation, Schnitzer Steel Industries, Inc., has become one of the nation's largest recyclers of scrap metal, a leading provider of used and recycled auto parts and a manufacturer of finished steel products. With a rapidly growing national and global reach, the company achieved $2.5 billion in revenues in fiscal 2014 and was ranked #853 in the 2015 Fortune 1000 list of companies. Schnitzer Steel common stock is traded on the NASDAQ Stock Market under the symbol SCHN. With corporate headquarters based in Portland, Oregon, the company is split into three vertically integrated business units, the Metals Recycling Business, the Auto Parts Business and the Steel Manufacturing Business.

Revenue(Q3, 2017)

$477.1 M

Market capitalization(2017-08-17)

$702.3 M

Company Growth (employees)

Type

Public

Portland, US

Founded

1906

Size (employees)

2,818 (est)

Website

schnitzersteel.com

Schnitzer Steel Industries was founded in 1906 and is headquartered in Portland, US

Schnitzer Steel Industries Office Locations

Schnitzer Steel Industries has an office in Portland

Portland, US (HQ)

350 299 SW Clay St

Schnitzer Steel Industries Data and Metrics

Schnitzer Steel Industries Financial Metrics

Schnitzer Steel Industries's revenue was reported to be $477.1 m in Q3, 2017

Summary

USD

Schnitzer Steel Industries's current market capitalization is $702.3 m.

Source: SEC Filings

Income Statement

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Revenue	2.6 b	2.5 b	1.9 b	1.4 b
Revenue growth, %		(3%)	(25%)	(29%)
Cost of goods sold	2.4 b	2.3 b	1.7 b	1.2 b
Gross profit	212.5 m	227.6 m	172.7 m	176.6 m
Gross profit Margin, %	8%	9%	9%	13%
General and administrative expense				148.9 b
Operating expense total				148.9 b
EBIT	(327.8 m)	20.3 m	(195.5 m)	(7.8 m)
EBIT margin, %	(13%)	1%	(10%)	(1%)
Interest expense	9.6 m	10.6 m	9.2 m	8.9 m
Pre tax profit	(337.4 m)	10.7 m	(200.5 m)	(15.5 m)
Income tax expense	(56.9 m)	2.6 m	(12.6 m)	735 k
Net Income	(280 m)	9.6 m	(195.1 m)	(17.6 m)

Quarterly

USD	Q1, 2014	Q2, 2015	Q3, 2015	Q2, 2016	Q3, 2016	Q1, 2016	Q2, 2017	Q3, 2017
Revenue	555.6 m	439.2 m	467.3 m	289.1 m	351.6 m	334.2 m	382.1 m	477.1 m
Cost of goods sold	510 m	408.8 m	424.3 m	259.7 m	294.7 m	295.9 m	326.8 m	411.1 m
Gross profit	45.6 m	30.4 m	43 m	29.4 m	56.9 m	38.3 m	55.3 m	66 m
Gross profit Margin, %	8%	7%	9%	10%	16%	11%	14%	14%
General and administrative expense	45.4 m	42.7 m	39.8 m	33.6 m	41.7 m	37.5 m	43.8 m	48.5 m
Operating expense total	45.4 m	42.7 m	39.8 m	33.6 m	41.7 m	37.5 m	43.8 m	48.5 m
EBIT	78 k	(204.9 m)	(4 m)	(37.1 m)	14.9 m	587 k	14.2 m	19.1 m
EBIT margin, %	0%	(47%)	(1%)	(13%)	4%	0%	4%	4%
Interest expense	(2.4 m)	(2.3 m)	(2.4 m)	(2 m)	(2.9 m)	(1.7 m)	(2.1 m)	(2.1 m)
Pre tax profit	(1.6 m)	(205.6 m)	(6.3 m)	(38.7 m)	11.9 m	(717 k)	12.4 m	17.5 m
Income tax expense	(8 k)	9.8 m	(1.4 m)	(1.3 m)	(95 k)	62 k	(637 k)	(161 k)
Net Income	(1.6 m)	(195.9 m)	(8.9 m)	(41 m)	11.7 m	(708 k)	11.7 m	17.3 m

Source: SEC Filings

Balance Sheet

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Cash	13.5 m	25.7 m	22.8 m	26.8 m
Accounts Receivable	188.3 m	189.4 m	111.5 m	114 m
Inventories	22.2 m	24.1 m	156.5 m	133 m
Current Assets	467.2 m	463.9 m	322.4 m	299.8 m
PP&E	564.4 m	523.4 m	427.6 m	392.8 m
Goodwill	327.3 m	325.9 m	175.7 m	166.8 m
Total Assets	1.4 b	1.4 b	962.3 m	891.4 m
Accounts Payable	96.3 m	103.5 m	57.1 m	58.4 m
Total Debt	9.2 m	523 k	584 k	8.4 m
Current Liabilities	166.1 m	177.3 m	120.4 m	133.7 m
Total Liabilities				390 m
Additional Paid-in Capital	7.5 m	19.2 m	26.2 m	30.9 m
Retained Earnings	751.9 m	737.6 m	520.1 m	480.1 m
Total Equity	781.2 m	776 m	538.6 m	501.4 m
Debt to Equity Ratio	0 x	0 x	0 x	0 x
Debt to Assets Ratio	0 x	0 x	0 x	0 x
Financial Leverage	1.8 x	1.7 x	1.8 x	1.8 x

Quarterly

USD	Q1, 2014	Q2, 2015	Q3, 2015	Q2, 2016	Q3, 2016	Q1, 2016	Q2, 2017	Q3, 2017
Cash	14.7 m	7.6 m	8.9 m	8.9 m	7 m	8.1 m	9.8 m	15.2 m
Inventories	244.3 m	255.9 m	197 m	146 m	156.9 m	148.1 m	168.9 m	165.8 m
Current Assets	450.6 m	413.2 m	362.3 m	261 m	289.7 m	294.3 m	331.5 m	334.3 m
Goodwill	323 m	176.7 m	176.8 m	166.3 m	166.9 m	166.4 m	166.5 m	166.3 m
Total Assets	1.3 b	1.1 b	1 b	852.2 m	876.4 m	878.9 m	920.5 m	921.2 m
Accounts Payable	73.6 m	74.1 m	67.9 m	53.1 m	56.9 m	68.9 m	72.6 m	69.4 m
Current Liabilities	134.9 m	130.6 m	127.5 m	105.3 m	113.3 m	125.9 m	135 m	145 m
Additional Paid-in Capital	20 m	21.3 m	24.6 m	23.5 m	27.5 m	30.8 m	33 m	36.6 m
Retained Earnings	730 m	529.2 m	514.4 m	463.3 m	469.1 m	473.6 m	479.4 m	490.8 m
Total Equity	760.8 m	545.3 m	536.3 m	477.1 m	488.9 m	494.1 m	502.7 m	517.6 m
Financial Leverage	1.7 x	2 x	1.9 x	1.8 x	1.8 x	1.8 x	1.8 x	1.8 x

Cash Flow

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Net Income	(280 m)	9.6 m	(195.1 m)	(17.6 m)
Depreciation and Amortization	83.1 m	79.2 m	67.9 m	54.6 m
Accounts Receivable	(79 m)	(16 m)	55.6 m	(10.7 m)
Inventories	46.8 m	36.3 m	69.3 m	27.5 m
Accounts Payable	(10.9 m)	9.4 m	(35.6 m)	(763 k)
Cash From Operating Activities	39.3 m	141.3 m	144.6 m	99.2 m
Capital Expenditures	(90.4 m)	(39.1 m)	(32.3 m)	(34.6 m)
Cash From Investing Activities	(137.2 m)	(41.2 m)	(28.2 m)	(30.5 m)
Long-term Borrowings	(230.9 m)	(368.5 m)	(231.1 m)	(188 m)
Dividends Paid	(20 m)	(20.1 m)	(20.3 m)	(20.4 m)
Cash From Financing Activities	20.6 m	(88.2 m)	(118.8 m)	(64.9 m)
Interest Paid	8.5 m	8.8 m	7.1 m	6.1 m
Income Taxes Paid	2.4 m	4.1 m	(5.8 m)	5.9 m
Free Cash Flow	129.7 m	180.4 m	176.9 m	64.7 m

Quarterly

USD	Q1, 2014	Q2, 2015	Q3, 2015	Q2, 2016	Q3, 2016	Q1, 2016	Q2, 2017	Q3, 2017
Net Income	(1.6 m)	(195.9 m)	(8.9 m)	(41 m)	11.7 m	(708 k)	11.7 m	17.3 m
Inventories	244.3 m	255.9 m	197 m	146 m	156.9 m	148.1 m	168.9 m	165.8 m
Accounts Payable	73.6 m	74.1 m	67.9 m	53.1 m	56.9 m	68.9 m	72.6 m	69.4 m

Ratios

USD	Y, 2017
Revenue/Employee	169.3 k
Financial Leverage	1.8 x

Schnitzer Steel Industries Market Value History

Market Position of Schnitzer Steel Industries

Competitors

Global Brass and Copper Holdings

Manufacturing & Industrial - Public

Norsk Hydro

Manufacturing & Industrial - Public

Aurubis

Manufacturing & Industrial - Public

Tandom Metallurgical

Manufacturing & Industrial - Private

Compare competitors

Schnitzer Steel Industries

Company Growth (employees)

Schnitzer Steel Industries Office Locations

Schnitzer Steel Industries Data and Metrics

Schnitzer Steel Industries Financial Metrics

Summary

Revenue (Q3, 2017)

Gross profit (Q3, 2017)

Gross profit margin (Q3, 2017), %

Net income (Q3, 2017)

EBIT (Q3, 2017)

Market capitalization (17-Aug-2017)

Cash (31-May-2017)

Income Statement

Revenue

Revenue growth, %

Cost of goods sold

Gross profit

Gross profit Margin, %

General and administrative expense

Operating expense total

EBIT

EBIT margin, %

Interest expense

Pre tax profit

Income tax expense

Net Income

Revenue

Cost of goods sold

Gross profit

Gross profit Margin, %

General and administrative expense

Operating expense total

EBIT

EBIT margin, %

Interest expense

Pre tax profit

Income tax expense

Net Income

Balance Sheet

Cash

Accounts Receivable

Inventories

Current Assets

PP&E

Goodwill

Total Assets

Accounts Payable

Total Debt

Current Liabilities

Total Liabilities

Additional Paid-in Capital

Retained Earnings

Total Equity

Debt to Equity Ratio

Debt to Assets Ratio

Financial Leverage

Cash

Inventories

Current Assets

Goodwill

Total Assets

Accounts Payable

Current Liabilities

Additional Paid-in Capital

Retained Earnings

Total Equity

Financial Leverage

Cash Flow

Net Income

Depreciation and Amortization

Accounts Receivable

Inventories

Accounts Payable

Cash From Operating Activities

Capital Expenditures

Cash From Investing Activities

Long-term Borrowings

Dividends Paid

Cash From Financing Activities