SP · Sp Plus Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $451.90M | - | $460.70M | $442.20M | $425.30M | - | $404.40M | $381.00M | $349.80M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $34.80M | - | $37.60M | $31.80M | $30.60M | - | $27.20M | $26.70M | $24.50M | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $9.00M | - | $9.00M | $8.80M | $8.40M | - | $7.20M | $6.50M | $6.80M | - |
| Operating Income | $18.90M | - | $21.00M | $25.30M | $19.30M | - | $23.80M | $25.60M | $20.10M | - |
| Interest Expense | $7.40M | - | $7.40M | $7.30M | $6.80M | - | $3.90M | $3.50M | $4.80M | - |
| Income Tax | $3.10M | - | $3.50M | $4.80M | $3.30M | - | $4.90M | $5.90M | $4.20M | - |
| Net Income | $7.60M | - | $9.20M | $12.30M | $8.40M | - | $14.30M | $15.40M | $10.70M | - |
| EPS - Basic | $0.38 | - | $0.47 | $0.63 | $0.43 | - | $0.69 | $0.73 | $0.50 | - |
| EPS - Diluted | $0.38 | - | $0.46 | $0.62 | $0.42 | - | $0.68 | $0.72 | $0.50 | - |
Balance Sheet
| Line item | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $17.80M | $19.10M | $38.50M | $24.60M | $29.80M | $12.40M | $18.40M | $14.60M | $23.40M | $15.70M |
| Accounts Receivable | $179.60M | $180.50M | $184.40M | $179.00M | $159.00M | $169.90M | $153.00M | $153.10M | $136.00M | $137.30M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $145.20M | $136.60M | $142.70M | $136.60M | $140.40M | $133.40M | $128.70M | $128.20M | $118.50M | $118.50M |
| Current Assets | $210.40M | $212.20M | $236.00M | $216.80M | $206.00M | $196.80M | $186.00M | $189.60M | $172.70M | $187.50M |
| Total Assets | $1.14B | $1.15B | $1.17B | $1.15B | $1.13B | $1.12B | $1.08B | $1.09B | $1.09B | $1.12B |
| Current Liabilities | $325.90M | $337.40M | $342.70M | $325.10M | $318.50M | $343.60M | $318.50M | $313.20M | $319.20M | $332.80M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $881.80M | $901.20M | $916.20M | $904.90M | $900.20M | $895.70M | $838.30M | $845.70M | $853.90M | $894.10M |
| Stockholders' Equity | $260.50M | $250.80M | $252.10M | $241.20M | $225.20M | $226.00M | $241.70M | $247.80M | $235.50M | $222.50M |
| Retained Earnings | $112.30M | $104.70M | $103.50M | $94.30M | $82.00M | $73.60M | $68.80M | $54.50M | $39.10M | $28.40M |
Cash Flow
| Line item | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $14.60M | - | - | - | $7.70M | - | - | - | $26.40M | - |
| Investing Cash Flow | ($5.60M) | - | - | - | ($8.80M) | - | - | - | ($2.20M) | - |
| Financing Cash Flow | ($10.20M) | - | - | - | $18.70M | - | - | - | ($16.60M) | - |
| CapEx | $5.60M | - | - | - | $6.70M | - | - | - | $2.30M | - |
| Free Cash Flow | $9.00M | - | - | - | $1.00M | - | - | - | $24.10M | - |
Ratios
| Metric | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 4.2% | - | 4.6% | 5.7% | 4.5% | - | 5.9% | 6.7% | 5.7% | - |
| EBITDA margin | 6.2% | - | 6.5% | 7.7% | 6.5% | - | 7.7% | 8.4% | 7.7% | - |
| Net margin | 1.7% | - | 2.0% | 2.8% | 2.0% | - | 3.5% | 4.0% | 3.1% | - |
| Free cash flow margin | 2.0% | - | - | - | 0.2% | - | - | - | 6.9% | - |
| FCF / Net income | 1.18 | - | - | - | 0.12 | - | - | - | 2.25 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 7.7% | - | 8.2% | 7.2% | 7.2% | - | 6.7% | 7.0% | 7.0% | - |
| Effective tax rate | 29.0% | - | 27.6% | 28.1% | 28.2% | - | 25.5% | 27.7% | 28.2% | - |
| Return on assets | 0.7% | - | 0.8% | 1.1% | 0.7% | - | 1.3% | 1.4% | 1.0% | - |
| Return on equity | 2.9% | - | 3.6% | 5.1% | 3.7% | - | 5.9% | 6.2% | 4.5% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 0.65 | 0.63 | 0.69 | 0.67 | 0.65 | 0.57 | 0.58 | 0.61 | 0.54 | 0.56 |
| Quick ratio | 0.65 | 0.63 | 0.69 | 0.67 | 0.65 | 0.57 | 0.58 | 0.61 | 0.54 | 0.56 |
| Cash ratio | 0.05 | 0.06 | 0.11 | 0.08 | 0.09 | 0.04 | 0.06 | 0.05 | 0.07 | 0.05 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | 2.6x | - | 2.8x | 3.5x | 2.8x | - | 6.1x | 7.3x | 4.2x | - |
| Equity multiplier | 4.39 | 4.59 | 4.63 | 4.75 | 5.00 | 4.96 | 4.47 | 4.41 | 4.62 | 5.02 |
| Liabilities / Assets | 0.77 | 0.78 | 0.78 | 0.79 | 0.80 | 0.80 | 0.78 | 0.77 | 0.78 | 0.80 |
| Efficiency | ||||||||||
| Asset turnover | 0.40 | - | 0.39 | 0.39 | 0.38 | - | 0.37 | 0.35 | 0.32 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 145d | - | 146d | 148d | 136d | - | 138d | 147d | 142d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 6.3% | - | 13.9% | 16.1% | 21.6% | - | 29.8% | 38.2% | 41.8% | - |
| Revenue CAGR (3y) | 22.4% | - | 26.2% | 29.5% | 1.3% | - | -1.1% | -2.7% | -5.1% | - |
| Revenue CAGR (5y) | 2.0% | - | 4.9% | 1.8% | 3.0% | - | 0.6% | -1.7% | -3.3% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | -2.1% | - | -11.8% | -1.2% | -4.0% | - | 25.9% | 39.9% | 82.7% | - |
| Net income growth (YoY) | -9.5% | - | -35.7% | -20.1% | -21.5% | - | 24.3% | 71.1% | 365.2% | - |
| EPS growth (YoY) | -9.5% | - | -32.4% | -13.9% | -16.0% | - | 25.9% | 71.4% | 354.5% | - |
| EPS CAGR (3y) | 51.2% | - | - | - | - | - | 2.0% | 1.9% | 2.1% | - |
| EPS CAGR (5y) | -4.2% | - | -5.2% | -1.8% | -9.2% | - | 6.3% | 0.0% | 13.1% | - |
| FCF growth (YoY) | 800.0% | - | - | - | -95.9% | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | 45.5% | - |
| Book value growth (YoY) | 15.7% | 11.0% | 4.3% | -2.7% | -4.4% | 1.6% | 14.2% | 25.0% | 26.1% | 21.5% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2023-12-31.
Business segments
$883.20M totalSegment One$585.50M · 66.3%
Segment Two$297.70M · 33.7%
Product / service
$2.67B totalReimbursed Management Type Contract$899.10M · 33.7%
Lease And Management Type Contracts$883.20M · 33.1%
Management Type Contracts$590.00M · 22.1%
Lease Type Contracts$293.20M · 11.0%
Peer comparison
Same SIC group: Services-Auto Rental & Leasing (No Drivers)
| Company | Revenue (last FY) | Net margin | ROE |
|---|---|---|---|
| R | $12.66B | 3.9% | 16.3% |
| CAR | $11.65B | -7.6% | 28.4% |
| HTZ | $8.50B | -8.8% | 162.7% |
| UHAL UHALB | $6.04B | 1.4% | 1.1% |
| GETR | - | - | - |
Comparing SP Plus Corp against the 5 most active filers in the same SIC group.