Plexus Corp.
Find Ratings ReportsPLEXUS CORP's gross profit margin for the first quarter of its fiscal year 2024 is essentially unchanged when compared to the same period a year ago. Sales and net income have dropped, underperforming the average competitor within its subsector. PLEXUS CORP has weak liquidity. Currently, the Quick Ratio is 0.59 which 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.
During the same period, stockholders' equity ("net worth") has increased by 10.12% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the future.
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Income Statement | Q1 FY24 | Q1 FY23 |
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Net Sales ($mil) | 982.61 | 1093.93 |
EBITDA ($mil) | 64.3 | 73.63 |
EBIT ($mil) | 45.16 | 57.34 |
Net Income ($mil) | 29.22 | 42.19 |
Balance Sheet | Q1 FY24 | Q1 FY23 |
---|---|---|
Cash & Equiv. ($mil) | 232.41 | 247.91 |
Total Assets ($mil) | 3304.61 | 3395.29 |
Total Debt ($mil) | 488.4 | 557.38 |
Equity ($mil) | 1266.76 | 1150.26 |
Profitability | Q1 FY24 | Q1 FY23 |
---|---|---|
Gross Profit Margin | 10.92 | 10.74 |
EBITDA Margin | 6.54 | 6.73 |
Operating Margin | 4.6 | 5.24 |
Sales Turnover | 1.24 | 1.2 |
Return on Assets | 3.81 | 4.62 |
Return on Equity | 9.96 | 13.65 |
Debt | Q1 FY24 | Q1 FY23 |
---|---|---|
Current Ratio | 1.52 | 1.44 |
Debt/Capital | 0.28 | 0.33 |
Interest Expense | 7.62 | 6.89 |
Interest Coverage | 5.93 | 8.32 |
Share Data | Q1 FY24 | Q1 FY23 |
---|---|---|
Shares outstanding (mil) | 27.5 | 27.61 |
Div / share | 0.0 | 0.0 |
EPS | 1.04 | 1.49 |
Book value / share | 46.06 | 41.66 |
Institutional Own % | n/a | n/a |
Avg Daily Volume | 125608.0 | 122178.0 |
HOLD. The current P/E ratio indicates a significant discount compared to an average of 53.34 for the Computer and Electronic Product Manufacturing subsector and a discount compared to the S&P 500 average of 27.95. For additional comparison, its price-to-book ratio of 2.06 indicates a significant discount versus the S&P 500 average of 4.68 and a significant discount versus the subsector average of 23.59. The price-to-sales ratio is well below both the S&P 500 average and the subsector average, indicating a discount. Upon assessment of these and other key valuation criteria, PLEXUS CORP proves to trade at a discount to investment alternatives.
Price/Earnings |
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Price/Cash Flow |
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PLXS 21.09 | Peers 53.34 | PLXS 12.31 | Peers 44.47 | |||||||||||||||||||||
Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations. PLXS is trading at a significant discount to its peers. |
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. PLXS is trading at a significant discount to its peers. |
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Price/Projected Earnings |
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Price to Earnings/Growth |
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PLXS 15.53 | Peers 26.06 | PLXS NM | Peers 1.95 | |||||||||||||||||||||
Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations. PLXS is trading at a discount to 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. PLXS's negative PEG ratio makes this valuation measure meaningless. |
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Price/Book |
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Earnings Growth |
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PLXS 2.06 | Peers 23.59 | PLXS -19.10 | Peers 123.02 | |||||||||||||||||||||
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. PLXS 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, PLXS is expected to significantly trail its peers on the basis of its earnings growth rate. |
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Price/Sales |
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Sales Growth |
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PLXS 0.64 | Peers 14.13 | PLXS 0.27 | Peers 27.20 | |||||||||||||||||||||
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. PLXS is trading at a significant discount to its subsector on this measurement. |
Lower. A sales growth rate that trails the subsector implies that a company is losing market share. PLXS significantly trails its peers on the basis of sales growth. |
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