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TheStreet Open House
Goodrich Petroleum Corp
GDP : NYSE : Basic Materials
$16.97 | %
Today's Range: 16.86 - 17.80
Avg. Daily Volume: 1,372,500
09/19/14 - 4:03 PM ET

Financial Analysis


GOODRICH PETROLEUM CORP's gross profit margin for the second quarter of its fiscal year 2014 is essentially unchanged when compared to the same period a year ago. Even though sales increased, the net income has decreased, representing a decrease to the bottom line. GOODRICH PETROLEUM CORP has very weak liquidity. Currently, the Quick Ratio is 0.38 which clearly shows a lack of ability to cover short-term cash needs. The company's liquidity has increased from the same period last year, indicating improving cash flow.

At the same time, stockholders' equity ("net worth") has greatly increased by 150.57% from the same quarter last year. The key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the near future.

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Income Statement Q2 FY14 Q2 FY13
Net Sales ($mil)53.3248.49
EBITDA ($mil)30.6527.93
EBIT ($mil)-0.2-14.28
Net Income ($mil)-25.11-16.14


Balance Sheet Q2 FY14 Q2 FY13
Cash & Equiv. ($mil)52.272.65
Total Assets ($mil)1023.15807.59
Total Debt ($mil)537.48554.11
Equity ($mil)299.7119.61


Profitability Q2 FY14 Q2 FY13
Gross Profit Margin78.1877.11
EBITDA Margin57.4757.59
Operating Margin-0.37-29.46
Sales Turnover0.210.23
Return on Assets-9.59-13.35
Return on Equity-42.1-97.29
Debt Q2 FY14 Q2 FY13
Current Ratio0.410.34
Debt/Capital0.640.82
Interest Expense11.7513.03
Interest Coverage-0.02-1.1


Share Data Q2 FY14 Q2 FY13
Shares outstanding (mil)44.4336.73
Div / share0.00.0
EPS-0.73-0.55
Book value / share6.753.26
Institutional Own % n/a n/a
Avg Daily Volume1382707.01976417.0

Valuation


HOLD. The current P/E ratio is negative, which has no meaningful value in the assessment of premium or discount valuation, it simply displays that the company has negative earnings. To use another comparison, its price-to-book ratio of 2.88 indicates valuation on par with the S&P 500 average of 2.74 and a significant discount versus the industry average of 14.68. The price-to-sales ratio is well above both the S&P 500 average and the industry average, indicating a premium. The valuation analysis reveals that, GOODRICH PETROLEUM CORP seems to be trading 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
GDP NM Peers 24.73   GDP 8.78 Peers 21.02

Neutral. The absence of a valid P/E ratio happens when a stock can not be valued on the basis of a negative stream of earnings.

GDP's P/E is negative making this valuation measure meaningless.

 

Discount. 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.

GDP is trading at a significant discount to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
GDP NM Peers 18.56   GDP NA Peers 1.74

Neutral. The absence of a valid price-to-projected earnings ratio happens when a stock can not be valued on the basis of a negative expected future earnings.

GDP's ratio is negative making this valuation measure meaningless.

 

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
GDP 2.88 Peers 14.68   GDP 5.02 Peers 31.19

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

GDP is trading at a significant discount to its peers.

 

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

However, GDP 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
GDP 4.05 Peers 2.59   GDP 12.16 Peers 10.61

Premium. 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.

GDP is trading at a significant premium to its industry.

 

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

GDP has a sales growth rate that exceeds its peers.

 

 

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