Balance Sheet TT Electronics plc

Equities

TTG

GB0008711763

Electronic Equipment & Parts

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Published financial data: TT ELECTRONICS PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	432M	476M	617M	614M	521M
Total Revenues	432M	476M	617M	614M	521M
Cost of Goods Sold, Total	333M	361M	482M	467M	411M
Gross Profit	99.1M	116M	136M	147M	110M
Selling General & Admin Expenses, Total	92.3M	95.5M	137M	137M	132M
Other Operating Expenses	-200K	-	-	-	-
Other Operating Expenses, Total	92.1M	95.5M	137M	137M	132M
Operating Income	7M	20.1M	-1.3M	10.1M	-22.5M
Interest Expense, Total	-4.2M	-4.3M	-8.9M	-11.3M	-11.4M
Interest And Investment Income	100K	200K	100K	100K	500K
Net Interest Expenses	-4.1M	-4.1M	-8.8M	-11.2M	-10.9M
Currency Exchange Gains (Loss)	-	-	-	-	-
EBT, Excl. Unusual Items	2.9M	16M	-10.1M	-1.1M	-33.4M
EBT, Incl. Unusual Items	2.9M	16M	-10.1M	-1.1M	-33.4M
Income Tax Expense	1.6M	3.2M	3.1M	5.7M	20M
Earnings From Continuing Operations	1.3M	12.8M	-13.2M	-6.8M	-53.4M
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	1.3M	12.8M	-13.2M	-6.8M	-53.4M
Net Income - (IS)	1.3M	12.8M	-13.2M	-6.8M	-53.4M
Net Income to Common Incl Extra Items	1.3M	12.8M	-13.2M	-6.8M	-53.4M
Net Income to Common Excl. Extra Items	1.3M	12.8M	-13.2M	-6.8M	-53.4M
Per Share Items
Net EPS - Basic	0.01	0.07	-0.08	-0.04	-0.3
Basic EPS - Continuing Operations	0.01	0.07	-0.08	-0.04	-0.3
Basic Weighted Average Shares Outstanding	166M	175M	176M	176M	177M
Net EPS - Diluted	0.01	0.07	-0.08	-0.04	-0.3
Diluted EPS - Continuing Operations	0.01	0.07	-0.08	-0.04	-0.3
Diluted Weighted Average Shares Outstanding	168M	178M	176M	176M	177M
Normalized Basic EPS	0.01	0.06	-0.04	-0	-0.12
Normalized Diluted EPS	0.01	0.06	-0.04	-0	-0.12
Dividend Per Share	0.05	0.06	0.06	0.07	0.02
Payout Ratio	-	89.06	-77.27	-166.18	-22.85
Supplemental Items
EBITDA	19.8M	31.6M	15.3M	25.4M	-10.7M
EBITA	9M	21.7M	5.7M	15.4M	-19.3M
EBIT	7M	20.1M	-1.3M	10.1M	-22.5M
EBITDAR	20M	31.7M	-	-	-
Effective Tax Rate - (Ratio)	55.17	20	-30.69	-518.18	-59.88
Total Current Taxes	1.7M	4.2M	8.6M	13M	14.9M
Total Deferred Taxes	-100K	-1M	-5.5M	-7.3M	5.1M
Normalized Net Income	1.81M	10M	-6.31M	-688K	-20.88M
Interest on Long-Term Debt	1.2M	1.2M	1.8M	1.4M	1.3M
Non-Cash Pension Expense	2.1M	500K	12.9M	1.8M	1.2M
Supplemental Operating Expense Items
Selling and Marketing Expenses	24.6M	26.9M	29.6M	26.9M	22.9M
General and Administrative Expenses	68.1M	69.4M	109M	111M	110M
Research And Development Expense From Footnotes	15.8M	12.3M	11.6M	12.8M	11.8M
Net Rental Expense, Total	200K	100K	-	-	-
Imputed Operating Lease Interest Expense	45.87K	21.18K	-	-	-
Imputed Operating Lease Depreciation	154K	78.82K	-	-	-
Stock-Based Comp., Other (Total)	900K	4.3M	4.6M	3.2M	2.2M
Total Stock-Based Compensation	900K	4.3M	4.6M	3.2M	2.2M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	70.2M	68.3M	65M	74.1M	69.2M
Total Cash And Short Term Investments	70.2M	68.3M	65M	74.1M	69.2M
Accounts Receivable, Total	58.2M	72.9M	103M	74.4M	77.8M
Other Receivables	10.4M	9.6M	10.3M	9.7M	10.4M
Total Receivables	68.6M	82.5M	113M	84.1M	88.2M
Inventory	98.2M	142M	189M	144M	133M
Prepaid Expenses	4.3M	6.3M	8.1M	8.1M	5.9M
Other Current Assets, Total	5.8M	4M	3.1M	53.2M	700K
Total Current Assets	247M	303M	379M	363M	297M
Gross Property Plant And Equipment	243M	240M	247M	221M	227M
Accumulated Depreciation	-178M	-170M	-173M	-144M	-168M
Net Property Plant And Equipment	65.4M	70M	74.4M	77.1M	59.2M
Goodwill	157M	156M	155M	141M	105M
Other Intangibles, Total	50.1M	43.7M	44.6M	27.8M	25.4M
Deferred Tax Assets Long-Term	9.1M	11.3M	13.2M	15.4M	13.1M
Deferred Charges Long-Term	7M	8M	9.1M	4.9M	5.4M
Other Long-Term Assets, Total	37.2M	79M	32.1M	26.1M	7.1M
Total Assets	573M	671M	707M	655M	512M
Liabilities
Accounts Payable, Total	51.1M	77.7M	97M	68.5M	61.3M
Accrued Expenses, Total	21M	26.4M	27.9M	27.4M	23.9M
Short-term Borrowings	1.2M	1.1M	3.7M	1.2M	100K
Current Portion of Long-Term Debt	1.1M	-	-	-	-
Current Portion of Leases	3.6M	4.1M	4.4M	3.8M	4M
Current Income Taxes Payable	12.2M	11.1M	13.7M	13.6M	16.7M
Unearned Revenue Current, Total	3.8M	16.1M	31.3M	21M	22.5M
Other Current Liabilities	17.3M	13.5M	20M	41M	17.8M
Total Current Liabilities	111M	150M	198M	176M	146M
Long-Term Debt	136M	147M	177M	182M	149M
Long-Term Leases	12.3M	18.5M	18.7M	14.4M	13.3M
Pension & Other Post Retirement Benefits	4.9M	3.9M	2.9M	3.1M	1.5M
Deferred Tax Liability Non Current	8.6M	20.2M	12.4M	7M	3.5M
Other Non Current Liabilities	1.8M	1.7M	1.6M	1.7M	3.6M
Total Liabilities	275M	341M	410M	385M	317M
Common Stock, Total	43.6M	44.1M	44.1M	44.3M	44.5M
Additional Paid In Capital	21.7M	22.6M	22.9M	24M	24.6M
Retained Earnings	195M	221M	168M	150M	80M
Comprehensive Income and Other	35.5M	40.3M	62.4M	52.6M	45.8M
Total Common Equity	296M	328M	297M	270M	195M
Minority Interest	2M	2M	-	-	-
Total Equity	298M	330M	297M	270M	195M
Total Liabilities And Equity	573M	671M	707M	655M	512M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	174M	175M	176M	177M	177M
ECS Total Common Shares Outstanding	174M	175M	176M	177M	177M
Book Value / Share	1.7	1.87	1.69	1.53	1.1
Tangible Book Value	89M	128M	97.3M	102M	64.1M
Tangible Book Value Per Share	0.51	0.73	0.55	0.58	0.36
Total Debt	154M	171M	203M	201M	167M
Net Debt	83.9M	102M	138M	127M	97.4M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-30.5M	-74.5M	-28.4M	-22.2M	-5.6M
Debt Equivalent Oper. Leases	1.6M	800K	-	-	-
Minority Interest, Total (Incl. Fin. Div)	2M	2M	-	-	-
Account Code - Inventory Valuation	3	6	6	6	6
Inventories - Raw Materials, Total	53.2M	92.6M	131M	86.9M	74.9M
Inventories - Work In Process, Total	26.4M	26.3M	34.8M	36.8M	34.3M
Inventories - Finished Goods, Total	18.6M	22.9M	23.5M	19.8M	23.5M
Land - (BS)	29.7M	24.2M	27.6M	25.9M	27.3M
Machinery, Total	177M	172M	172M	155M	157M
Full Time Employees	4.74K	4.74K	5.05K	4.94K	3.9K
Accumulated Allowance for Doubtful Accounts (Supple)	500K	2.1M	2.1M	600K	-

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	1.3M	12.8M	-13.2M	-6.8M	-53.4M
Depreciation & Amortization - CF	14M	13.6M	13.9M	14M	12.2M
Amortization of Goodwill and Intangible Assets - (CF)	2M	1.6M	7M	5.3M	3.2M
Depreciation & Amortization, Total	16M	15.2M	20.9M	19.3M	15.4M
Amortization of Deferred Charges, Total - (CF)	1.4M	1.3M	2.2M	2.4M	1.7M
Asset Writedown & Restructuring Costs	-400K	-7.2M	18.4M	30.5M	42M
Stock-Based Compensation (CF)	-	3.8M	4.8M	3.1M	2.2M
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	6.3M	4.7M	18.4M	14.9M	45.6M
Change In Accounts Receivable	11.2M	-15.7M	-26.3M	10.5M	-2.2M
Change In Inventories	4.2M	-42.6M	-40.4M	4.5M	12.8M
Change In Accounts Payable	-11.8M	42M	27.9M	-15.5M	-12.9M
Cash from Operations	28.2M	14.3M	12.7M	62.9M	51.2M
Capital Expenditure	-9.3M	-14.6M	-11.4M	-22.3M	-6.9M
Sale of Property, Plant, and Equipment	3.4M	9.3M	300K	500K	500K
Cash Acquisitions	-41.9M	-500K	-8.3M	-	-
Divestitures	-	-	-	-	12.2M
Sale (Purchase) of Intangible assets	-4.1M	-2.4M	-2.9M	-2.2M	-2.3M
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-51.9M	-8.2M	-22.3M	-24M	3.5M
Long-Term Debt Issued, Total	49.8M	96.4M	174M	32.7M	15.1M
Total Debt Issued	49.8M	96.4M	174M	32.7M	15.1M
Long-Term Debt Repaid, Total	-31.3M	-90.8M	-154M	-30.5M	-53.4M
Total Debt Repaid	-31.3M	-90.8M	-154M	-30.5M	-53.4M
Issuance of Common Stock	20.2M	1.4M	400K	1.3M	800K
Common Dividends Paid	-	-11.4M	-10.2M	-11.3M	-12.2M
Common & Preferred Stock Dividends Paid	-	-11.4M	-10.2M	-11.3M	-12.2M
Other Financing Activities, Total	-5.3M	-4.5M	-10.5M	-11.8M	-12.7M
Cash from Financing	33.4M	-8.9M	400K	-19.6M	-62.4M
Foreign Exchange Rate Adjustments	-900K	1M	3.3M	-4.1M	300K
Miscellaneous Cash Flow Adjustments	-	-	-	-3.6M	-
Net Change in Cash	8.8M	-1.8M	-5.9M	11.6M	-7.4M
Supplemental Items
Cash Interest Paid	3.5M	4M	7.5M	10.6M	10.6M
Cash Income Tax Paid (Refund)	300K	4.7M	5.9M	9.1M	9.7M
Levered Free Cash Flow	2.35M	-3.22M	-26.98M	6.05M	14.81M
Unlevered Free Cash Flow	4.58M	-938K	-22.41M	12.51M	21.34M
Change In Net Working Capital	4.3M	16.9M	34M	-6.4M	-25.9M
Net Debt Issued / Repaid	18.5M	5.6M	20.7M	2.2M	-38.3M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	0.79	2.02	-0.12	0.93	-2.42
Return on Total Capital	1.02	2.64	-0.16	1.3	-3.4
Return On Equity %	0.46	4.08	-4.21	-2.4	-23.2
Return on Common Equity	0.46	4.1	-4.22	-2.4	-23.2
Margin Analysis
Gross Profit Margin %	22.95	24.28	21.96	23.95	21.05
SG&A Margin	21.38	20.05	22.17	22.3	25.37
EBITDA Margin %	4.59	6.64	2.48	4.14	-2.05
EBITA Margin %	2.08	4.56	0.92	2.51	-3.7
EBIT Margin %	1.62	4.22	-0.21	1.65	-4.32
Income From Continuing Operations Margin %	0.3	2.69	-2.14	-1.11	-10.25
Net Income Margin %	0.3	2.69	-2.14	-1.11	-10.25
Net Avail. For Common Margin %	0.3	2.69	-2.14	-1.11	-10.25
Normalized Net Income Margin	0.42	2.1	-1.02	-0.11	-4.01
Levered Free Cash Flow Margin	0.54	-0.68	-4.37	0.99	2.84
Unlevered Free Cash Flow Margin	1.06	-0.2	-3.63	2.04	4.09
Asset Turnover
Asset Turnover	0.78	0.77	0.9	0.9	0.9
Fixed Assets Turnover	6.68	7.03	8.55	8.1	7.65
Receivables Turnover (Average Receivables)	6.93	7.26	7.02	6.87	6.91
Inventory Turnover (Average Inventory)	3.36	3	2.91	2.81	2.99
Short Term Liquidity
Current Ratio	2.22	2.02	1.91	2.06	2.03
Quick Ratio	1.25	1.01	0.9	0.9	1.08
Operating Cash Flow to Current Liabilities	0.25	0.1	0.06	0.36	0.35
Days Sales Outstanding (Average Receivables)	52.81	50.24	52.03	53.15	52.99
Days Outstanding Inventory (Average Inventory)	109.07	121.46	125.46	130.04	122.5
Average Days Payable Outstanding	56.43	58.15	60.28	71.71	59.18
Cash Conversion Cycle (Average Days)	105.45	113.55	117.2	111.49	116.32
Long Term Solvency
Total Debt/Equity	51.71	51.76	68.48	74.42	85.48
Total Debt / Total Capital	34.09	34.11	40.65	42.67	46.09
LT Debt/Equity	49.73	50.18	65.76	72.57	83.38
Long-Term Debt / Total Capital	32.78	33.07	39.03	41.61	44.95
Total Liabilities / Total Assets	47.97	50.85	58	58.71	61.96
EBIT / Interest Expense	1.67	4.67	-0.15	0.89	-1.97
EBITDA / Interest Expense	5.48	8.21	2.2	2.6	-0.62
(EBITDA - Capex) / Interest Expense	3.26	4.81	0.92	0.63	-1.23
Total Debt / EBITDA	6.7	4.84	10.38	6.85	-23.46
Net Debt / EBITDA	3.65	2.9	7.06	4.33	-13.72
Total Debt / (EBITDA - Capex)	11.25	8.25	24.8	28.35	-11.9
Net Debt / (EBITDA - Capex)	6.12	4.95	16.88	17.92	-6.96
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-9.7	10.28	29.57	-0.5	-15.12
Gross Profit, 1 Yr. Growth %	-13.75	16.65	17.21	8.49	-22.91
EBITDA, 1 Yr. Growth %	-34.44	59.6	-55	66.01	-154.31
EBITA, 1 Yr. Growth %	-54.55	141.11	-76.35	170.18	-298.97
EBIT, 1 Yr. Growth %	-60	187.14	-107.47	-876.92	-611.36
Earnings From Cont. Operations, 1 Yr. Growth %	-89.52	884.62	-203.12	-48.48	372.57
Net Income, 1 Yr. Growth %	-91.77	884.62	-203.12	-48.48	372.57
Normalized Net Income, 1 Yr. Growth %	-78.03	451.72	-163.12	-89.11	391.18
Diluted EPS Before Extra, 1 Yr. Growth %	-89.59	822.25	-204.28	-48.06	369.31
Accounts Receivable, 1 Yr. Growth %	-12.35	25.26	41.29	-28.74	6.43
Inventory, 1 Yr. Growth %	-1.9	44.4	33.43	-24.15	-7.01
Net Property, Plant and Equip., 1 Yr. Growth %	2.35	7.03	6.29	3.63	-23.22
Total Assets, 1 Yr. Growth %	7.21	17.21	5.33	-7.37	-21.2
Tangible Book Value, 1 Yr. Growth %	2.53	41.69	-23.87	4.73	-33.85
Common Equity, 1 Yr. Growth %	11.28	10.81	-9.45	-8.92	-26.59
Cash From Operations, 1 Yr. Growth %	-21.45	-49.29	-11.19	395.28	-18.6
Capital Expenditures, 1 Yr. Growth %	-33.57	56.99	-21.92	95.61	-69.06
Levered Free Cash Flow, 1 Yr. Growth %	-28.52	-439.47	-14.49K	-122.43	70.5
Unlevered Free Cash Flow, 1 Yr. Growth %	-18.85	-129.53	-1.01K	-155.83	40.84
Dividend Per Share, 1 Yr. Growth %	123.81	19.15	12.5	7.94	-66.91
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	0.27	-0.21	19.54	13.54	-8.1
Gross Profit, 2 Yr. CAGR %	-5.38	0.3	16.93	12.77	-10.02
EBITDA, 2 Yr. CAGR %	-17.37	2.29	-12.1	-13.57	-16.37
EBITA, 2 Yr. CAGR %	-31.53	4.69	-20.42	-20.06	84.01
EBIT, 2 Yr. CAGR %	-35.26	7.17	-56.91	-23.81	316.03
Earnings From Cont. Operations, 2 Yr. CAGR %	-68.38	1.6	218.65	-27.11	101.13
Net Income, 2 Yr. CAGR %	-68.85	-9.99	218.65	-27.11	101.13
Normalized Net Income, 2 Yr. CAGR %	-55.43	10.1	86.62	-73.78	81.85
Diluted EPS Before Extra, 2 Yr. CAGR %	-68.36	-2.02	210.12	-26.4	100.55
Accounts Receivable, 2 Yr. CAGR %	-5.08	4.78	33.03	1.02	-13.67
Inventory, 2 Yr. CAGR %	0.93	19.02	38.8	0.6	-16.25
Net Property, Plant and Equip., 2 Yr. CAGR %	12.47	4.66	6.66	4.95	-10.8
Total Assets, 2 Yr. CAGR %	8.03	12.1	11.11	-1.22	-14.89
Tangible Book Value, 2 Yr. CAGR %	-1.05	21.34	3.86	-10.71	-18.83
Common Equity, 2 Yr. CAGR %	3.28	11.04	0.17	-9.19	-18.99
Cash From Operations, 2 Yr. CAGR %	6	-36.89	-32.89	109.73	100.79
Capital Expenditures, 2 Yr. CAGR %	-16.69	2.12	10.72	23.59	-22.2
Levered Free Cash Flow, 2 Yr. CAGR %	-61.11	-0.96	432.87	468.04	-25.9
Unlevered Free Cash Flow, 2 Yr. CAGR %	-43.95	-59.22	165.69	124.85	-2.43
Dividend Per Share, 2 Yr. CAGR %	-14.97	63.3	15.78	10.19	-40.24
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	6.14	3.5	8.87	12.44	3.05
Gross Profit, 3 Yr. CAGR %	2.21	1.45	5.65	14.05	-1.73
EBITDA, 3 Yr. CAGR %	-13.97	2.9	-20.28	8.66	-31.98
EBITA, 3 Yr. CAGR %	-25.88	4.16	-33.97	19.61	-7.14
EBIT, 3 Yr. CAGR %	-29.41	6.37	-57.96	13	8.95
Earnings From Cont. Operations, 3 Yr. CAGR %	-56.41	-0.52	2.11	73.59	60.98
Net Income, 3 Yr. CAGR %	-69.91	-1.52	-5.82	73.59	60.98
Normalized Net Income, 3 Yr. CAGR %	-45.28	3.1	-8.54	-27.61	27.8
Diluted EPS Before Extra, 3 Yr. CAGR %	-56.52	-2.63	0.04	70.95	61.27
Accounts Receivable, 3 Yr. CAGR %	6.41	4.11	15.76	8.53	2.19
Inventory, 3 Yr. CAGR %	16.69	13.73	23.64	13.48	-2.19
Net Property, Plant and Equip., 3 Yr. CAGR %	16.09	10.63	5.2	5.64	-5.43
Total Assets, 3 Yr. CAGR %	15.97	11.01	9.8	4.58	-8.62
Tangible Book Value, 3 Yr. CAGR %	-14.18	12.03	3.88	4.15	-20.55
Common Equity, 3 Yr. CAGR %	3.69	5.73	3.74	-2.96	-15.93
Cash From Operations, 3 Yr. CAGR %	-1.27	-17.1	-29.28	30.66	52.98
Capital Expenditures, 3 Yr. CAGR %	-6.56	2.9	-6.62	33.85	-22.11
Levered Free Cash Flow, 3 Yr. CAGR %	-61.48	-40.79	101.7	85.36	329.08
Unlevered Free Cash Flow, 3 Yr. CAGR %	-52.33	-59.92	58.42	57.96	105.05
Dividend Per Share, 3 Yr. CAGR %	-6.77	-4.85	44.22	13.1	-26.21
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-3.27	7.44	11.31	7.41	1.73
Gross Profit, 5 Yr. CAGR %	1.41	6.62	7.86	5.84	-0.92
EBITDA, 5 Yr. CAGR %	-10.51	2.16	-13.23	-2.62	-18.74
EBITA, 5 Yr. CAGR %	-13.51	1.95	-23.74	-4.32	-0.51
EBIT, 5 Yr. CAGR %	-15.13	2.12	-42.05	-9.57	5.15
Earnings From Cont. Operations, 5 Yr. CAGR %	-34.02	1.47	-3.41	-12.16	33.91
Net Income, 5 Yr. CAGR %	-34.02	-5.18	-22.66	-12.69	27.58
Normalized Net Income, 5 Yr. CAGR %	-26.8	2.27	-10.61	-40.38	20.4
Diluted EPS Before Extra, 5 Yr. CAGR %	-34.55	-0.28	-4.6	-12.94	32.13
Accounts Receivable, 5 Yr. CAGR %	-0.24	-1.19	16.35	2.87	3.22
Inventory, 5 Yr. CAGR %	4.21	12.24	25.08	8.28	5.8
Net Property, Plant and Equip., 5 Yr. CAGR %	-6.1	-5.36	12.22	8.32	-1.52
Total Assets, 5 Yr. CAGR %	6.44	7.42	14	5.94	-0.84
Tangible Book Value, 5 Yr. CAGR %	8.9	6.5	-7.12	2.31	-5.88
Common Equity, 5 Yr. CAGR %	9.81	7.23	2.27	-0.51	-6.03
Cash From Operations, 5 Yr. CAGR %	2.19	-11.67	-15.4	20.17	7.36
Capital Expenditures, 5 Yr. CAGR %	-9.24	10.66	0	10.72	-13.2
Levered Free Cash Flow, 5 Yr. CAGR %	-10.7	-7.01	-8.08	-17.19	35.13
Unlevered Free Cash Flow, 5 Yr. CAGR %	-3.4	-21.21	-11.9	-2.99	30.5
Dividend Per Share, 5 Yr. CAGR %	-3.09	0	1.67	0.91	1.39