Transcat, Inc. is a leading provider of accredited calibration, repair, inspection and compliance services including analytical instrument qualifications, equipment and process validation. Targeted industries include life science, biotechnology, medical device, pharmaceutical and other FDA-regulated industries, industrial manufacturing, energy and utilities, chemical manufacturing and other industries. Throughout its 20 strategically located centers of excellence in the United States, Canada and Puerto Rico, Transcat delivers precise services with reliable turn-around times. The breadth and depth of measurement parameters addressed by Transcat’s ISO/IEC 17025 scopes of accreditation are believed to be among the best in the industry.
In addition, Transcat operates as a leading distributor of professional grade handheld test, measurement and control instrumentation. Through its distribution products segment, Transcat markets and distributes premier and propriety brand instruments to nearly 15,000 customers. The Company offers access to more than 25,000 test, measurement and control products.
Transcat’s growth strategy is to expand its service and distribution platform comprised of a balanced suite of test products and analytical, calibration, compliance, and validation services. The goal is to deliver specialized technical services with a quality assurance approach, which maximizes document accuracy and on-time job delivery. Transcat answers the call with cGMP, GLP, and GXP compliant services. Transcat can provide life science companies with a reliable alternative service and product solution to the OEMs and to the “generalist” service providers who cannot meet the client’s specialized
needs.

Transcat was founded in 1964 and is headquartered in Rochester, US

Transcat has an office in Rochester

Rochester, US (HQ)

35 Vantage Point Dr

Transcat's revenue was reported to be $143.9 m in FY, 2017

USD

## Revenue (FY, 2017) | 143.9 m |

## Revenue growth (FY, 2016 - FY, 2017), % | 18% |

## Gross profit (FY, 2017) | 35 m |

## Gross profit margin (FY, 2017), % | 24% |

## Net income (FY, 2017) | 4.5 m |

## EBIT (FY, 2017) | 7.9 m |

## Market capitalization (18-Aug-2017) | 92.9 m |

## Cash (25-Mar-2017) | 842 k |

## EV | 119.4 m |

Transcat's current market capitalization is $92.9 m.

USD | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} | FY, 2017^{} |
---|---|---|---|---|

## Revenue | 118.5 m | 123.6 m | 122.2 m | 143.9 m |

## Revenue growth, % | 4% | (1%) | 18% | |

## Cost of goods sold | 94.5 m | 93 m | 108.9 m | |

## Gross profit | 29.1 m | 29.1 m | 35 m | |

## Gross profit Margin, % | 24% | 24% | 24% | |

## General and administrative expense | 10.5 m | |||

## Operating expense total | 23.1 m | 22.3 m | 22.8 m | 27 m |

## EBIT | 6.7 m | 6.8 m | 6.3 m | 7.9 m |

## EBIT margin, % | 6% | 5% | 5% | 6% |

## Pre tax profit | 6.4 m | 6 m | 7.2 m | |

## Income tax expense | 2.4 m | 1.9 m | 2.6 m | |

## Net Income | 4 m | 4 m | 4.1 m | 4.5 m |

USD | Q1, 2014^{} | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 29.7 m | 29.5 m | 30.2 m | 33.1 m | 34.5 m | 37.8 m | |||

## Cost of goods sold | 22.6 m | 22.7 m | 23.4 m | 24.9 m | 26.5 m | 28.9 m | |||

## Gross profit | 7.1 m | 6.7 m | 6.8 m | 8.2 m | 8 m | 8.9 m | |||

## Gross profit Margin, % | 24% | 23% | 22% | 25% | 23% | 24% | |||

## EBIT | 1 m | 1.4 m | 1.7 m | 1.4 m | 1.6 m | 2.4 m | |||

## EBIT margin, % | 3% | 5% | 6% | 4% | 5% | 6% | |||

## Pre tax profit | 932 k | 1.3 m | 1.6 m | 1.3 m | 1.4 m | 2.2 m | |||

## Net Income | 445 k | 1.3 m | 2.1 m | 601 k | 1.5 m | 2.5 m | 834 k | 1.7 m | 3 m |

USD | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} | FY, 2017^{} |
---|---|---|---|---|

## Cash | 23 k | 65 k | 641 k | 842 k |

## Accounts Receivable | 1.1 m | 1.2 m | 881 k | 1.2 m |

## Inventories | 1.2 m | 1.2 m | 1.1 m | 10.3 m |

## Current Assets | 25.5 m | 27.1 m | 26.2 m | 35.6 m |

## PP&E | 7.1 m | 9.4 m | 12.3 m | 15.6 m |

## Goodwill | 17.4 m | 20.9 m | 29.1 m | 32.5 m |

## Total Assets | 53.9 m | 62.1 m | 76.7 m | 92.1 m |

## Accounts Payable | 7.1 m | 7.7 m | 8.1 m | 11.6 m |

## Total Debt | 27.3 m | |||

## Current Liabilities | 13.9 m | 11.9 m | 15.8 m | 19.8 m |

## Total Liabilities | 48.7 m | |||

## Additional Paid-in Capital | 11.4 m | 12.3 m | 13 m | 13 m |

## Retained Earnings | 14.8 m | 18.8 m | 22.8 m | 27.3 m |

## Total Equity | 30.1 m | 34.3 m | 38.9 m | 43.4 m |

## Debt to Equity Ratio | 0.6 x | |||

## Debt to Assets Ratio | 0.3 x | |||

## Financial Leverage | 1.8 x | 1.8 x | 2 x | 2.1 x |

USD | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} |
---|---|---|---|---|---|---|

## Cash | 50 k | 163 k | 152 k | 781 k | 598 k | 559 k |

## Accounts Receivable | 776 k | 1.4 m | 1.2 m | 934 k | 1.5 m | 1.8 m |

## Inventories | 6.6 m | 6.3 m | 5.8 m | 7.6 m | 7.5 m | 10.8 m |

## Current Assets | 24.1 m | 25.2 m | 24.3 m | 27.8 m | 28.8 m | 34.3 m |

## PP&E | 10 m | 11.4 m | 11.8 m | 14 m | 14.7 m | 15.4 m |

## Goodwill | 21.7 m | 22.7 m | 22.5 m | 32.7 m | 32.7 m | 32.4 m |

## Total Assets | 60.7 m | 64.4 m | 63.5 m | 85.2 m | 86 m | 91.3 m |

## Accounts Payable | 6.5 m | 8.4 m | 8.8 m | 7.3 m | 10.4 m | 11.9 m |

## Current Liabilities | 10.4 m | 12.8 m | 12.2 m | 16.2 m | 19.6 m | 20.9 m |

## Additional Paid-in Capital | 12.5 m | 12.8 m | 12.8 m | 13.2 m | 13.5 m | 13.5 m |

## Retained Earnings | 19.3 m | 20.2 m | 21.2 m | 23.6 m | 24.5 m | 25.8 m |

## Total Equity | 35.2 m | 36 m | 37 m | 40.1 m | 41.2 m | 42.4 m |

## Financial Leverage | 1.7 x | 1.8 x | 1.7 x | 2.1 x | 2.1 x | 2.2 x |

USD | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} | FY, 2017^{} |
---|---|---|---|---|

## Net Income | 4 m | 4 m | 4.1 m | 4.5 m |

## Depreciation and Amortization | 2.9 m | 3.1 m | 3.9 m | 6.2 m |

## Inventories | 681 k | (593 k) | 177 k | (3.4 m) |

## Accounts Payable | (1.8 m) | 464 k | 446 k | 3.1 m |

## Cash From Operating Activities | (383 k) | 42 k | 576 k | 7.5 m |

## Purchases of PP&E | (2 m) | (3.5 m) | (5.3 m) | |

## Cash From Investing Activities | (1.7 m) | (10.7 m) | (18 m) | (12.2 m) |

## Cash From Financing Activities | (6.6 m) | 5 m | 7.2 m | 4.8 m |

## Interest Paid | 121 k | 232 k | 243 k | 686 k |

USD | Q1, 2014^{} | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} |
---|---|---|---|---|---|---|---|---|---|

## Net Income | 445 k | 1.3 m | 2.1 m | 601 k | 1.5 m | 2.5 m | 834 k | 1.7 m | 3 m |

## Depreciation and Amortization | 624 k | 1.4 m | 2.3 m | 840 k | 1.7 m | 2.7 m | 1.5 m | 3.1 m | 4.7 m |

## Inventories | (2 m) | (1.3 m) | (1.1 m) | 161 k | 459 k | 914 k | (815 k) | (735 k) | (4 m) |

## Accounts Payable | 182 k | 1 m | 77 k | (1.2 m) | (309 k) | (271 k) | (1.2 m) | 1.9 m | 3.4 m |

## Cash From Operating Activities | (2.4 m) | (411 k) | 1.2 m | 2.6 m | 5.3 m | 7.4 m | (140 k) | 5 m | 3.9 m |

## Purchases of PP&E | (711 k) | (1.9 m) | (2.7 m) | (1.1 m) | (2.5 m) | (4.1 m) | |||

## Cash From Investing Activities | (703 k) | (8.5 m) | (9.3 m) | (1.8 m) | (5.6 m) | (6.6 m) | (7.9 m) | (9.5 m) | (11.1 m) |

## Cash From Financing Activities | 3.4 m | 9 m | 7.6 m | (657 k) | (21 k) | (1.4 m) | 8.4 m | 4.5 m | 6.9 m |

## Interest Paid | 37 k | 71 k | 145 k | 54 k | 101 k | 155 k | 192 k | 289 k | 488 k |

USD | Y, 2017 |
---|---|

## EV/EBIT | 15 x |

## EV/CFO | 15.8 x |

## Revenue/Employee | 256.5 k |

## Debt/Equity | 0.6 x |

## Debt/Assets | 0.3 x |

## Financial Leverage | 2.1 x |

December 30, 2016

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