TriMas (TRS) Financials

$1.3 B

Mkt cap, 21-May-2018

$217.1 M

Revenue Q1, 2018
Gross profit (Q1, 2018)60.4 M
Gross profit margin (Q1, 2018), %27.8%
Net income (Q1, 2018)24.3 M
EBIT (Q1, 2018)35.2 M
Cash, 31-Mar-201836.7 M
EV1.6 B

Revenue/Financials

Income Statement

Annual

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

Revenue

1.4 b1.5 b864 m794 m817.7 m

Revenue growth, %

7%(42%)(8%)

Cost of goods sold

1 b1.1 b627.9 m583.5 m598.6 m

Gross profit

353.4 m384.9 m236.1 m210.5 m219.1 m

Gross profit Margin, %

25%26%27%27%27%

General and administrative expense

153.7 m129.6 m

Operating expense total

153.7 m129.6 m

EBIT

120.5 m124.6 m(4.3 m)(44 m)88.5 m

EBIT margin, %

9%8%0%(6%)11%

Interest expense

18.3 m15 m14.1 m13.7 m14.4 m

Pre tax profit

(58.2 m)66.2 m

Income tax expense

(18.4 m)(32.9 m)(6.5 m)18.4 m(35.3 m)

Net Income

80.1 m69.3 m(33.4 m)(39.8 m)31 m

Quarterly

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

Revenue

355.6 m367.7 m404 m380.1 m366.5 m224.9 m222.2 m202.9 m203.3 m202.3 m199.8 m213.4 m209.3 m217.1 m

Cost of goods sold

261.5 m271.2 m294.2 m282.1 m268.3 m163.2 m159.7 m147 m146.2 m144.2 m148.1 m154 m150.5 m156.7 m

Gross profit

94.2 m96.6 m109.8 m98.1 m98.2 m61.7 m62.5 m55.9 m57.1 m58.1 m51.8 m59.4 m58.8 m60.4 m

Gross profit Margin, %

26%26%27%26%27%27%28%28%28%29%26%28%28%28%

General and administrative expense

61.2 m64 m65.7 m65.5 m70.7 m42.5 m40.9 m39.5 m38.4 m40.3 m36 m33.2 m30.7 m25.2 m

Operating expense total

61.2 m64 m65.7 m65.5 m70.7 m42.5 m40.9 m39.5 m38.4 m40.3 m36 m33.2 m30.7 m25.2 m

EBIT

43.3 m32.6 m44 m32.3 m27.5 m19.2 m21.6 m16.5 m18.7 m17.8 m15.7 m26.3 m28.1 m35.2 m

EBIT margin, %

12%9%11%8%8%9%10%8%9%9%8%12%13%16%

Interest expense

5.6 m3.5 m3.4 m3.4 m4.7 m3.7 m3.4 m3.4 m3.3 m3.5 m3.6 m3.4 m3.4 m3.7 m

Pre tax profit

28.1 m38.7 m26.5 m20.3 m11.6 m22.9 m17.9 m31 m

Income tax expense

(10.1 m)(8.7 m)(12.5 m)(8.2 m)(6.3 m)(4.7 m)(5.7 m)(4.7 m)(5 m)(5.3 m)(4.6 m)(8 m)(4.8 m)(6.6 m)

Net Income

30 m19.4 m26.2 m22.2 m14 m1.7 m11.7 m8.3 m10.5 m8.8 m7 m14.9 m13.1 m24.3 m

Balance Sheet

Annual

USDFY, 2017

Cash

27.6 m

Inventories

155.4 m

Current Assets

311.3 m

PP&E

190.3 m

Goodwill

319.4 m

Total Assets

1 b

Accounts Payable

72.4 m

Current Liabilities

121.9 m

Long-term debt

303.1 m

Total Debt

303.1 m

Total Liabilities

489.2 m

Additional Paid-in Capital

823.9 m

Retained Earnings

(263 m)

Total Equity

544 m

Financial Leverage

1.9 x

Quarterly

USDQ1, 2018

Cash

36.7 m

Inventories

156.6 m

Current Assets

332.9 m

PP&E

188.4 m

Goodwill

320.2 m

Total Assets

1 b

Accounts Payable

73 m

Current Liabilities

117.7 m

Long-term debt

301.7 m

Total Debt

301.7 m

Total Liabilities

479.4 m

Additional Paid-in Capital

822.8 m

Retained Earnings

(238.6 m)

Total Equity

565.8 m

Financial Leverage

1.8 x

Cash Flow

Annual

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

Net Income

80.1 m69.3 m(33.4 m)(39.8 m)31 m

Depreciation and Amortization

50.6 m56.5 m43.5 m44.9 m27 m

Accounts Receivable

Inventories

(11 m)(7.5 m)

Accounts Payable

7.8 m14.1 m(29.5 m)(18.1 m)3.6 m

Cash From Operating Activities

80.5 m120.1 m

Cash From Investing Activities

(130.3 m)(410.1 m)(39.5 m)(31.1 m)(32.4 m)

Cash From Financing Activities

49.2 m284.1 m(28 m)(48.1 m)(80.8 m)

Interest Paid

16.8 m10.9 m15.2 m11.8 m9.4 m

Income Taxes Paid

37.7 m41.1 m30.6 m17.2 m16.2 m

Free Cash Flow

49.1 m83.3 m

Quarterly

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

Net Income

71.8 m19.4 m45.6 m67.8 m14 m15.7 m27.4 m8.3 m18.8 m27.6 m7 m21.8 m35 m24.3 m

Depreciation and Amortization

36.6 m13.5 m27.3 m40.8 m14.8 m21.4 m32.2 m11 m22.2 m33 m10.8 m23 m33.8 m11.2 m

Inventories

(4.6 m)(580 k)(840 k)

Accounts Payable

(1.9 m)(8.6 m)(15.5 m)

Cash From Operating Activities

(23.3 m)6.5 m32.9 m46.4 m22 m49.6 m72.7 m16.2 m

Cash From Investing Activities

(8.8 m)(20.3 m)(48.3 m)(7.4 m)(14.7 m)(21.2 m)(5.9 m)(12.8 m)(22.3 m)(10.7 m)(15.1 m)(22.3 m)(2.9 m)

Cash From Financing Activities

227.9 m38.3 m8.6 m(13.5 m)30 m10 m4.5 m15.2 m(15.9 m)(21 m)(9.3 m)(32.5 m)(46.3 m)(4.2 m)

Interest Paid

12.6 m3 m5.6 m8 m4.7 m9.7 m12.3 m3 m5.9 m8.9 m3.1 m6.1 m9 m470 k

Income Taxes Paid

29.9 m2.7 m10.7 m25.6 m8.3 m17.4 m22.3 m1.8 m3.2 m9.1 m1.2 m10.6 m13.1 m970 k

Free Cash Flow

(31.3 m)(6.4 m)20 m24 m11.2 m32.7 m48.5 m13.1 m

Ratios

USDY, 2018

EV/EBIT

45.4 x

EV/CFO

98.5 x

EV/FCF

122.4 x

Financial Leverage

1.8 x
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