Steel Partners Holdings LP LTD PARTNERSHIP UNIT
Find Ratings ReportsSTEEL PARTNERS HOLDINGS LP's gross profit margin for the third quarter of its fiscal year 2023 has increased when compared to the same period a year ago. Even though sales increased, the net income has decreased. STEEL PARTNERS HOLDINGS LP has weak liquidity. Currently, the Quick Ratio is 0.70 which shows a lack of ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year.
During the same period, stockholders' equity ("net worth") has increased by 18.62% 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 | Q3 FY23 | Q3 FY22 |
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Net Sales ($mil) | 492.25 | 425.67 |
EBITDA ($mil) | 39.74 | 59.72 |
EBIT ($mil) | 25.05 | 47.02 |
Net Income ($mil) | 25.57 | 36.32 |
Balance Sheet | Q3 FY23 | Q3 FY22 |
---|---|---|
Cash & Equiv. ($mil) | 562.15 | 361.52 |
Total Assets ($mil) | 3951.23 | 3068.58 |
Total Debt ($mil) | 421.93 | 425.13 |
Equity ($mil) | 885.54 | 746.5 |
Profitability | Q3 FY23 | Q3 FY22 |
---|---|---|
Gross Profit Margin | 40.89 | 37.58 |
EBITDA Margin | 8.07 | 14.02 |
Operating Margin | 5.09 | 11.05 |
Sales Turnover | 0.47 | 0.56 |
Return on Assets | 4.62 | 5.27 |
Return on Equity | 20.62 | 21.68 |
Debt | Q3 FY23 | Q3 FY22 |
---|---|---|
Current Ratio | 1.2 | 1.18 |
Debt/Capital | 0.32 | 0.36 |
Interest Expense | 4.12 | 5.11 |
Interest Coverage | 6.09 | 9.2 |
Share Data | Q3 FY23 | Q3 FY22 |
---|---|---|
Shares outstanding (mil) | 21.31 | 21.69 |
Div / share | 0.0 | 0.0 |
EPS | 1.14 | 1.45 |
Book value / share | 41.56 | 34.42 |
Institutional Own % | n/a | n/a |
Avg Daily Volume | 3131.0 | 1196.0 |
BUY. STEEL PARTNERS HOLDINGS LP's P/E ratio indicates a significant discount compared to an average of 6250.09 for the Conglomerates subsector and a significant discount compared to the S&P 500 average of 27.95. For additional comparison, its price-to-book ratio of 0.94 indicates a significant discount versus the S&P 500 average of 4.68 and a significant discount versus the subsector average of 1031.10. 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, STEEL PARTNERS HOLDINGS LP proves to trade at a discount to investment alternatives.
Price/Earnings |
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Price/Cash Flow |
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SPLP 5.21 | Peers 6250.09 | SPLP NM | Peers 11833.11 | |||||||||||||||||||||
Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations. SPLP is trading at a significant discount to its peers. |
Neutral. 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. SPLP's P/CF is negative making the measure meaningless. |
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Price/Projected Earnings |
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Price to Earnings/Growth |
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SPLP NA | Peers 12.21 | SPLP NA | Peers 0.11 | |||||||||||||||||||||
Neutral. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth potential. Ratio not available. |
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. |
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Price/Book |
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Earnings Growth |
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SPLP 0.94 | Peers 1031.10 | SPLP 16.66 | Peers 534.55 | |||||||||||||||||||||
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. SPLP 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, SPLP 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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SPLP 0.45 | Peers 1326.42 | SPLP 9.17 | Peers 76.71 | |||||||||||||||||||||
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. SPLP 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. SPLP significantly trails its peers on the basis of sales growth. |
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