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Eaton Vance Corp
EV : NYSE : Financial

$37.35 -0.12 | -0.32%
Today's Range: 37.17 - 37.87
Avg. Daily Volume: 918,200
04/24/14 - 11:04 AM ET

Financial Analysis


EATON VANCE CORP's gross profit margin for the first quarter of its fiscal year 2014 has increased when compared to the same period a year ago. The company managed to grow both sales and net income at a faster pace than the average competitor in its industry this quarter as compared to the same quarter a year ago.

During the same period, stockholders' equity ("net worth") has increased by 22.31% from the same quarter last year.

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Income Statement Q1 FY14 Q1 FY13
Net Sales ($mil)360.26318.52
EBITDA ($mil)129.78106.42
EBIT ($mil)124.2100.68
Net Income ($mil)71.3649.81


Balance Sheet Q1 FY14 Q1 FY13
Cash & Equiv. ($mil)424.02266.58
Total Assets ($mil)2293.081803.53
Total Debt ($mil)1242.16911.58
Equity ($mil)704.38575.87


Profitability Q1 FY14 Q1 FY13
Gross Profit Margin36.0233.41
EBITDA Margin36.0233.4
Operating Margin34.4831.61
Sales Turnover0.610.68
Return on Assets9.3911.42
Return on Equity30.5735.77
Debt Q1 FY14 Q1 FY13
Current Ratio0.00.0
Debt/Capital0.640.61
Interest Expense10.3912.79
Interest Coverage11.967.87


Share Data Q1 FY14 Q1 FY13
Shares outstanding (mil)122.74120.45
Div / share0.221.2
EPS0.560.38
Book value / share5.744.78
Institutional Own % n/a n/a
Avg Daily Volume919089.0665406.0

Valuation


BUY. EATON VANCE CORP's P/E ratio indicates a premium compared to an average of 21.81 for the Capital Markets industry and a premium compared to the S&P 500 average of 18.59. For additional comparison, its price-to-book ratio of 6.43 indicates a significant premium versus the S&P 500 average of 2.56 and a significant premium versus the industry average of 2.20. The price-to-sales ratio is well above the S&P 500 average, but well below the industry average. After reviewing these and other key valuation criteria, EATON VANCE CORP proves to trade at a premium 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 21.83 Peers 21.81   EV 225.27 Peers 18.82

Average. An average P/E ratio can signify an industry neutral price for a stock and an average growth expectation.

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

 

Premium. 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 significant premium 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 14.24 Peers 15.14   EV 0.41 Peers 0.95

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.

 

Discount. 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.

EV trades at a significant discount to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
EV 6.43 Peers 2.20   EV -0.59 Peers 1151.80

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 significantly 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 3.24 Peers 4.09   EV 13.58 Peers 9.38

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.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

EV has a sales growth rate that significantly exceeds its peers.

 

 

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