$429 M

SPAR Mkt cap, 11-Oct-2018

$357 M

Spartan Motors Revenue Q2, 2018
Spartan Motors Gross profit (Q2, 2018)48.5 M
Spartan Motors Gross profit margin (Q2, 2018), %13.6%
Spartan Motors Net income (Q2, 2018)7.9 M
Spartan Motors EBIT (Q2, 2018)7.6 M
Spartan Motors Cash, 30-Jun-201821.7 M
Spartan Motors EV407.4 M

Spartan Motors Revenue Breakdown

Embed Graph

Spartan Motors revenue breakdown by business segment: 22.3% from Specialty Chassis and Vehicles, 35.2% from Fleet Vehicles and Services and 42.5% from Emergency Response Vehicles

Spartan Motors Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

469.5m506.8m550.4m590.8m707.1m

Revenue growth, %

8%9%7%20%

Cost of goods sold

442.9m502.8b518.1m617.7m

Gross profit

63.9m(502.2b)72.7m89.4m

Gross profit Margin, %

13%(91246%)12%13%

R&D expense

6.8m6.5m

General and administrative expense

56.2m65.5m

Operating expense total

62.9m73.1m

EBIT

(8.2m)(1.2m)(12.5m)8.6m16.2m

EBIT margin, %

(2%)0%(2%)1%2%

Interest expense

341.0k365.0m410.0k864.0k

Interest income

717.0k

Pre tax profit

16.0m

Income tax expense

100.0k90.0k

Net Income

(6.0m)1.0m(17.5m)8.6m15.9m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Revenue

126.1m128.0m115.8m144.2m128.4m144.8m136.6m133.7m162.5m148.7m167.1m169.7m189.2m173.0m357.0m

Cost of goods sold

109.9m115.2m101.1m124.1m114.3m127.3m123.8m117.9m141.7m130.6m150.5m150.2m160.6m150.9m308.5m

Gross profit

16.1m12.7m14.7m20.2m14.0m17.6m12.8m15.8m20.8m18.1m16.5m19.5m28.7m22.2m48.5m

Gross profit Margin, %

13%10%13%14%11%12%9%12%13%12%10%11%15%13%14%

R&D expense

2.7m2.9m2.7m3.0m3.6m1.2m454.0k1.2m1.8m1.4m2.1m1.5m1.6m1.4m3.2m

General and administrative expense

11.6m13.4m11.9m12.7m13.6m13.2m12.4m13.6m14.4m13.8m14.6m16.5m17.1m17.9m36.9m

Operating expense total

14.3m16.3m14.6m15.9m18.1m15.1m13.3m15.1m16.4m15.4m17.2m18.3m18.9m19.3m40.9m

EBIT

1.8m(3.5m)31.0k4.3m(4.4m)2.3m(458.0k)691.0k4.4m2.6m(842.0k)1.2m9.8m2.9m7.6m

EBIT margin, %

1%(3%)0%3%(3%)2%0%1%3%2%(1%)1%5%2%2%

Interest expense

79.0k94.0k91.0k80.0k90.0k112.0k91.0k114.0k88.0k112.0k264.0k129.0k189.0k323.0k592.0k

Interest income

1.6m2.4m

Pre tax profit

1.2m9.7m4.1m9.4m

Net Income

563.0k(2.1m)230.0k3.2m(2.9m)1.2m(5.8m)543.0k4.4m2.7m(1.1m)1.1m13.5m4.2m7.9m

Spartan Motors Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

30.7m28.6m32.7m32.0m33.5m

Accounts Receivable

83.1m

Inventories

81.4m71.2m60.6m58.9m77.7m

Current Assets

170.7m161.3m158.3m162.2m198.8m

PP&E

54.3m50.4m47.3m53.1m55.2m

Goodwill

16.0m16.0m16.0m16.0m27.4m

Total Assets

253.3m238.8m230.7m243.3m301.2m

Accounts Payable

30.5m22.8m27.3m31.3m40.6m

Short-term debt

79.0k59.0k63.0k65.0k64.0k

Current Liabilities

70.2m60.6m72.4m87.7m109.7m

Long-term debt

17.9m

Total Debt

79.0k59.0k63.0k65.0k18.0m

Total Liabilities

90.3m132.9m

Common Stock

351.0k

Additional Paid-in Capital

75.1m75.7m76.5m76.8m79.7m

Retained Earnings

96.1m92.7m72.3m76.4m88.9m

Total Equity

171.6m168.6m148.5m153.0m168.3m

Debt to Equity Ratio

0 x0 x0 x0 x0.1 x

Debt to Assets Ratio

0 x0 x0 x0 x0.1 x

Financial Leverage

1.5 x1.4 x1.6 x1.6 x1.8 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Cash

20.0m27.2m29.7m28.5m12.0m20.6m20.9m36.8m39.8m40.0m35.4m21.2m21.9m29.4m21.7m

Inventories

82.4m75.4m84.4m73.7m85.1m69.9m78.5m71.2m59.8m68.0m109.2m88.4m95.1m48.5m64.6m

Current Assets

166.9m171.2m176.5m172.5m181.8m166.5m175.5m175.2m174.4m182.2m214.1m197.6m215.1m207.2m229.7m

PP&E

55.9m53.2m52.2m51.1m50.2m49.5m47.8m47.4m49.9m51.0m58.1m57.1m56.0m55.0m54.6m

Goodwill

20.8m16.0m16.0m16.0m16.0m16.0m16.0m16.0m16.0m16.0m25.6m25.8m27.5m27.4m27.4m

Total Assets

255.9m252.5m256.3m250.9m259.0m242.9m248.5m247.6m249.8m261.2m313.8m296.3m320.9m308.2m329.7m

Accounts Payable

32.9m30.3m35.2m29.2m46.3m30.5m38.9m41.3m38.7m44.1m35.9m42.0m55.0m50.0m78.6m

Short-term debt

92.0k66.0k58.0k59.0k60.0k61.0k62.0k63.0k64.0k5.1m63.0k58.0k49.0k59.0k57.0k

Current Liabilities

67.8m71.6m77.8m70.0m83.3m67.6m79.3m88.2m91.9m105.1m124.3m116.3m126.3m110.5m129.4m

Total Debt

92.0k66.0k58.0k59.0k60.0k61.0k62.0k63.0k64.0k5.1m63.0k58.0k49.0k59.0k57.0k

Total Liabilities

98.1m99.3m107.7m37.8m144.0m154.2m133.7m152.1m

Additional Paid-in Capital

74.3m75.6m75.5m75.3m76.0m76.1m76.3m77.0m76.3m76.7m76.7m77.9m78.8m78.0m79.2m

Retained Earnings

100.8m94.0m92.0m94.6m89.8m89.3m83.5m72.9m74.5m77.2m75.3m74.7m88.2m96.7m98.7m

Total Equity

175.4m165.6m160.0m149.5m150.5m153.6m151.7m152.3m166.6m174.5m177.6m

Debt to Equity Ratio

0 x0 x0 x0 x0 x0 x0 x0 x0 x0 x0 x

Debt to Assets Ratio

0 x0 x0 x0 x0 x0 x0 x0 x0 x0 x0 x0 x0 x0 x0 x

Financial Leverage

1.5 x1.5 x1.6 x1.7 x1.7 x1.7 x2.1 x1.9 x1.9 x1.8 x1.9 x

Spartan Motors Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

(6.0m)1.0m(17.5m)8.6m15.9m

Depreciation and Amortization

9.2m8.4m7.4m7.9m9.9m

Accounts Receivable

(421.0k)(802.0k)(8.3m)(8.8m)(18.6m)

Inventories

(14.0m)10.3m10.6m1.7m42.9m

Accounts Payable

7.5m(7.8m)4.6m4.0m5.4m

Cash From Operating Activities

13.0m6.5m12.9m23.5m22.0m

Purchases of PP&E

(3.5m)(3.5m)(4.9m)(13.4m)(5.3m)

Cash From Investing Activities

(846.0k)(2.8m)(4.7m)(13.4m)(34.2m)

Long-term Borrowings

(86.0k)(80.0k)(75.0k)(5.1m)(15.1m)

Dividends Paid

(3.5m)

Cash From Financing Activities

(3.2m)(5.8m)(4.1m)(10.7m)13.7m

Net Change in Cash

1.5m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q1, 2018Q2, 2018

Net Income

(3.0m)(2.1m)230.0k3.2m(2.9m)1.2m(5.8m)543.0k4.4m2.7m(1.1m)4.2m7.9m

Depreciation and Amortization

6.9m2.5m5.0m

Accounts Receivable

(5.2m)(241.0k)(9.4m)

Inventories

(14.8m)84.4m73.7m85.1m69.9m78.5m71.2m109.2m(3.9m)(19.9m)

Accounts Payable

9.9m35.2m29.2m46.3m30.5m38.9m41.3m38.7m44.1m35.9m9.3m37.9m

Cash From Operating Activities

81.0k432.0k(2.6m)

Purchases of PP&E

(3.0m)(2.0m)(4.1m)

Cash From Investing Activities

(366.0k)(2.0m)(4.1m)

Long-term Borrowings

(60.0k)(18.0k)(36.0k)

Cash From Financing Activities

(1.5m)(2.5m)(5.2m)

Income Taxes Paid

(1.4m)(179.0k)1.0m(1.4m)

Spartan Motors Ratios

USDY, 2018

EV/EBIT

53.6 x

EV/CFO

-156.1 x

Financial Leverage

1.9 x
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Spartan Motors Operating Metrics

Spartan Motors's Backlog was reported to be $372.8m in Q2, 2017.
FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017

Backlog

$243.74 m$264.60 m$262.70 m$275.30 m$270.76 m$318.90 m$304 m$272.10 m$249.46 m$351.30 m$372.80 m

Backlog (Delivery and Service Vehicles)

$60.63 m$96.12 m$89.55 m

Backlog (Emergency Response Vehicles)

$160.74 m$156.27 m$139.87 m

Backlog (Specialty Chassis and Vehicles)

$22.36 m$18.37 m$20.04 m

Manufacturing Facilities

8 7 7

Patents (US)

20 20 24

Patents Pending (US)

20 9 13

Trademarks (US)

26 25 31

Warehouses

8 7 7

Warehouses, sq. feet

225.50 k165.70 k160.70 k
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