Neiman Marcus generated cash flow of $272 million in fiscal 2011, $260 million in fiscal 2012 and $233 million to date in fiscal 2013. That cash flow, the company said, has been used to pay off debt and dividends totaling $1.2 billion since October 2005.
With nearly $584 million in EBITDA as of July 28, 2012, Neiman Marcus would have an enterprise value of around nearly $5.1 billion if it traded at a multiple similar to Saks, which has an enterprise value of about 8.73 times EBITDA, according to numbers provided by Bloomberg.
Neiman Marcus has about $2.7 billion in long-term debt as of April 27 and about $69 million in cash.
The department store retailer operates 41 Neiman Marcus locations, two Bergdorf Goodman locations in New York City, 35 off-price locations under the Last Call banner and six Cusp fashion boutiques, as well as e-commerce sites.Written by Richard Collings in New York
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV