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Eaton Vance Corp
EV : NYSE : Financial
$38.51 up0.06 | 0.16%
Today's Range: 38.24 - 38.87
Avg. Daily Volume: 771,700
07/28/15 - 3:59 PM ET

Financial Analysis


EATON VANCE CORP's gross profit margin for the second quarter of its fiscal year 2015 is essentially unchanged when compared to the same period a year ago. Sales and net income have dropped, although the growth in revenues underperformed the average competitor within the industry, the net income growth did not.

During the same period, stockholders' equity ("net worth") has decreased by 7.05% from the same quarter last year.

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Income Statement Q2 FY15 Q2 FY14
Net Sales ($mil)351.66354.06
EBITDA ($mil)127.22130.82
EBIT ($mil)122.22125.3
Net Income ($mil)70.3874.9


Balance Sheet Q2 FY15 Q2 FY14
Cash & Equiv. ($mil)268.16379.05
Total Assets ($mil)1772.552281.41
Total Debt ($mil)699.651209.39
Equity ($mil)634.63682.79


Profitability Q2 FY15 Q2 FY14
Gross Profit Margin36.1836.95
EBITDA Margin36.1736.94
Operating Margin34.7635.39
Sales Turnover0.810.62
Return on Assets14.529.93
Return on Equity40.5633.18
Debt Q2 FY15 Q2 FY14
Current Ratio0.00.0
Debt/Capital0.520.64
Interest Expense7.9511.59
Interest Coverage15.3810.81


Share Data Q2 FY15 Q2 FY14
Shares outstanding (mil)118.04120.72
Div / share0.250.22
EPS0.580.59
Book value / share5.385.66
Institutional Own % n/a n/a
Avg Daily Volume770620.0746552.0

Valuation


BUY. This stock's P/E ratio indicates a discount compared to an average of 21.79 for the Capital Markets industry and a discount compared to the S&P 500 average of 21.18. For additional comparison, its price-to-book ratio of 7.28 indicates a significant premium versus the S&P 500 average of 2.82 and a significant premium versus the industry average of 2.25. The current price-to-sales ratio is well above the S&P 500 average, but below the industry average. The valuation analysis reveals that, EATON VANCE CORP seems to be trading at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
EV 18.56 Peers 21.79   EV 17.13 Peers 17.69

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

EV is trading at a discount to its peers.

 

Average. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

EV is trading at a valuation on par to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
EV 14.09 Peers 16.14   EV NA Peers 1.99

Average. An average price-to-projected earnings ratio can signify an industry neutral stock price and average future growth expectations.

EV is trading at a valuation on par with its peers.

 

Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

Ratio not available.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
EV 7.28 Peers 2.25   EV 18.53 Peers 23.06

Premium. A higher price-to-book ratio makes a stock less attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

EV is trading at a significant premium to its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, EV is expected to trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
EV 3.20 Peers 3.60   EV 1.47 Peers 2.27

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

EV is trading at a discount to its industry on this measurement.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

EV significantly trails its peers on the basis of sales growth

 

 

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