The Valspar Revenue

The Valspar revenue was $4.19 b in FY, 2016 which is a 4.6% year over year decrease from the previous period.

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Summary - Funding Rounds

Founding Date

1806
The Valspar is a subsidiary of Sherwin-Williams

The Valspar Income Statement

Annual

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

Revenue

4.1b4.5b4.4b4.2b

Revenue growth, %

10%(3%)(5%)

Cost of goods sold

2.7b3.0b2.8b2.7b

Gross profit

1.4b1.6b1.6b1.5b

Gross profit Margin, %

34%35%36%37%

R&D expense

121.6m134.1m132.8m139.3m

General and administrative expense

727.8m832.3m810.1m867.2m

Operating expense total

849.4m966.5m942.9m1.0b

EBIT

492.4m559.9m648.0m529.0m

EBIT margin, %

12%12%15%13%

Interest expense

64.8m65.3m81.3m90.6m

Pre tax profit

423.8m491.9m563.8m434.5m

Income tax expense

134.5m146.5m164.3m81.5m

Net Income

289.3m345.4m399.5m353.0m

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q2, 2015Q1, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Revenue

956.1m1.1b1.2b1.1b1.0b1.1b885.8m1.1b1.1b907.7m1.1b

Cost of goods sold

631.0m741.2m783.1m684.9m676.5m733.6m566.7m650.4m718.1m597.1m719.9m

Gross profit

325.2m389.0m420.0m394.4m338.1m415.6m319.1m406.4m423.9m310.5m375.9m

Gross profit Margin, %

34%34%35%37%33%36%36%38%37%34%34%

R&D expense

30.6m35.6m34.3m32.0m32.6m35.0m32.5m35.6m36.2m33.2m35.5m

General and administrative expense

187.2m201.5m219.5m204.2m189.6m206.4m192.0m210.6m207.5m202.7m212.4m

Operating expense total

217.8m237.1m253.8m236.3m222.2m241.4m224.5m246.2m243.7m235.9m247.9m

EBIT

95.6m143.1m158.5m155.9m157.4m165.7m93.7m130.9m170.3m74.6m128.0m

EBIT margin, %

10%13%13%14%16%14%11%12%15%8%12%

Interest expense

15.9m15.8m16.1m20.2m16.3m22.6m22.4m22.8m23.1m22.5m22.8m

Pre tax profit

79.3m127.0m140.6m134.0m142.0m143.0m70.7m107.4m147.2m52.7m107.3m

Income tax expense

25.7m41.0m42.7m43.7m38.0m40.2m18.2m27.4m30.2m12.0m31.8m

Net Income

53.6m86.0m97.8m90.3m104.0m102.9m52.4m80.0m117.0m40.7m75.5m

The Valspar Balance Sheet

Annual

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

Cash

216.2m128.2m186.0m174.7m

Accounts Receivable

425.0k88.8m

Inventories

439.0m486.3m451.9m473.3m

Current Assets

1.6b1.6b1.6b1.6b

PP&E

633.5m645.1m632.8m668.4m

Goodwill

1.1b1.1b1.3b1.3b

Total Assets

4.0b4.0b4.3b4.3b

Accounts Payable

618.8m600.9m553.7m553.2m

Short-term debt

162.5m131.0k150.1m

Current Liabilities

1.5b1.7b1.4b1.3b

Long-term debt

1.0b950.0m1.7b1.6b

Total Debt

1.1b1.7b1.7b

Total Liabilities

3.2b

Common Stock

59.2m59.2m59.2m59.2m

Additional Paid-in Capital

444.6m458.4m474.0m495.9m

Retained Earnings

1.6b1.9b2.2b2.5b

Total Equity

1.1b1.0b855.0m1.1b

Debt to Equity Ratio

1.1 x2 x1.5 x

Debt to Assets Ratio

0.3 x0.4 x0.4 x

Financial Leverage

3.6 x4 x5.1 x3.9 x

Quarterly

The Valspar Cash Flow

Annual

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

Net Income

289.3m345.4m399.5m353.0m

Depreciation and Amortization

81.1m92.6m83.0m86.2m

Accounts Receivable

(1.9m)(1.1m)(1.0m)

Inventories

(2.5m)1.5m(2.0m)

Accounts Payable

173.0k(520.0k)465.0k

Purchases of PP&E

(116.7m)(121.3m)(97.1m)(120.4m)

Cash From Investing Activities

(314.0m)(112.0m)(380.0m)(134.2m)

Dividends Paid

(81.2m)(87.4m)(96.9m)(104.6m)

Cash From Financing Activities

(108.0m)(312.7m)82.6m(356.2m)

Interest Paid

90.4m

Income Taxes Paid

120.2m

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q2, 2015Q1, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Net Income

53.6m139.5m237.3m90.3m104.0m297.2m52.4m132.5m249.4m40.7m116.3m

Depreciation and Amortization

28.1m52.6m74.3m68.1m23.0m47.7m71.2m24.0m48.0m

Inventories

526.4m494.4m511.2m512.6m515.2m536.5m523.6m506.6m542.1m

Accounts Payable

655.9m550.4m579.0m554.5m504.6m533.7m563.1m524.6m605.6m

Cash From Operating Activities

9.3m(10.7m)151.5m112.6m250.4m(17.1m)54.7m

Purchases of PP&E

(21.0m)(50.6m)(75.9m)(60.8m)(24.1m)(60.6m)(89.2m)(28.7m)(53.0m)

Cash From Investing Activities

(15.9m)(43.8m)(69.2m)(348.1m)(23.1m)(76.0m)(103.0m)(33.6m)(57.0m)

Dividends Paid

(22.2m)(44.2m)(65.9m)(73.1m)(26.1m)(52.2m)(78.3m)(30.2m)(59.5m)

Cash From Financing Activities

(14.2m)(39.2m)(144.7m)470.7m(28.0m)(49.6m)(162.7m)37.4m166.1m

Income Taxes Paid

25.7m41.0m42.7m43.7m38.0m