The L.S. Starrett Company

Report azionario NYSE:SCX

Capitalizzazione di mercato: US$118.7m

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

L.S. Starrett Crescita futura

Criteri Future verificati 0/6

Al momento non disponiamo di una copertura analitica sufficiente per prevedere la crescita e il fatturato di L.S. Starrett.

Informazioni chiave

n/a

Tasso di crescita degli utili

n/a

Tasso di crescita dell'EPS

Machinery crescita degli utili16.5%
Tasso di crescita dei ricavin/a
Rendimento futuro del capitale proprion/a
Copertura analitica

None

Ultimo aggiornamenton/a

Aggiornamenti recenti sulla crescita futura

Nessun aggiornamento

Recent updates

Articolo di analisi • Jan 27

Is L.S. Starrett (NYSE:SCX) A Risky Investment?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...
Articolo di analisi • Sep 16

L.S. Starrett (NYSE:SCX) Has A Pretty Healthy Balance Sheet

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Articolo di analisi • May 27

The Return Trends At L.S. Starrett (NYSE:SCX) Look Promising

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? One common approach...
Seeking Alpha • May 25

L.S. Starrett Company: Cheap But Declining Order Rate Is A Concern

Summary Order rate has been declining over the last few quarters, which should impact top-line growth in the coming quarters. Volume deleverage should impact margins. Despite cheap valuations, I have a neutral rating on the stock. Read the full article on Seeking Alpha
Seeking Alpha • Feb 03

L.S. Starrett: Lean Business, Pension Plan Issues Seem Resolved

Summary The company weathered the effects of the COVID-19 pandemic well and is currently trading at just 4.5x price /TTM earnings and 0.63x price/BV. In addition, rising interest rates have significantly diminished its pension plan funding issues. I think that the valuation of L.S. Starrett could improve to about 0.8 price/BV over the coming months and I rate the stock as a speculative buy. Introduction I like to write about companies that lack coverage on SA and today I'm taking a look at The L.S. Starrett Company (SCX). It's a precision tools maker that has been around for over a century and I think it looks undervalued at the moment as FY23 is off to a good start and TTM net income stands at $13.7 million. The gross margin improved by 70 basis points year on year to 33.4% in Q1 FY23 as it seems the company is successfully passing on increased costs to customers. In addition, the lingering pension plan funding issues seem much smaller than they used to be. Let’s review. Overview of the business and financials The L.S. Starrett Company was founded 1880 in a small town in Massachusetts named Athol by Laroy Starrett, who invented and patented the first combination square two years before that. The company was set up to manufacture this product and today it has a portfolio of over 5,000 precision tools, cutting equipment, and metrology systems products for the metalworking, automotive, aviation, marine, and farm industries and the do-it-yourselfers (DIY) sector. It’s also the largest manufacturer of saw blades in the world. L.S. Starrett is still based in Athol and it has a total of 9 manufacturing facilities across the USA, Brazil, China, and Scotland. The largest of those is in Athol and about half of the company’s sales come from outside the USA. L.S. Starrett Looking at the financial results for the past decade, L.S. Starrett started struggling with sales growth and low margins in the middle of the past decade due to recessions and stagnation across some of its main markets such as Brazil and the EU. The company responded by reducing its headcount and implementing saw plant consolidation and these measures helped it return to growth in FY18. In my view, this restructuring of the business positioned the company well to weather the effects of the COVID-19 pandemic as FY22 sales were the second highest in its history, just shy of the $260.1 million achieved in FY12. Yet, the cost structure was much better this time around thanks to optimized SG&A costs and net income came in at $14.9 million compared to just $0.9 million in FY12. Seeking Alpha The company has been implementing price increases over the past several months to counter pressure from inflation and supply chain disruptions and this allowed it to boost its gross margin to 33.4% in Q1 FY23. Net sales and net income were negatively impacted by foreign exchange losses as the U.S. dollar strengthened against the currencies of Brazil, the UK, and New Zealand, but the effects should be reversed in Q4 2022. I expect net income for the last quarter of the calendar year to be above $3 million once again. L.S. Starrett L.S. Starrett However, I find it concerning that L.S. Starrett complained about softened order intake in its foreign markets, particularly in Europe as a result of recession fears and the effects from the war in Ukraine. In my view, the impact should be limited considering that the major market of the company outside the USA is Brazil. L.S. Starrett On that note, it’s still unclear what direction the Brazilian economy will take with the election of Lula as president. During his previous stint ahead of the country, average annual GDP growth was 4.5% but there were headwinds for the economy from strong global demand commodities. I’d be surprised if GDP growth in 2023 surpasses 1% and it’s possible that some of his policies are already negatively affecting the sales of L.S. Starrett in the country. For example, Lula’s plans to reverse Amazon deforestation could be already putting pressure on local saw blade demand. Turning our attention to the cash flow picture, I don’t like the lack of free cash flow, but the situation should improve in the coming quarters. In Q1 FY23, L.S. Starrett increased inventories by $5 million due to global supply chain issues. They should decline over the coming months. L.S. Starrett In my view, the balance sheet looks strong as net debt stood at just $17.5 million as of September 2022. In addition, L.S. Starrett is trading at only 0.63 price/BV as of the time of writing. This is close to the levels from 2012 when profitability was an issue. L.S. Starrett In April 2022, fellow SA contributor Tomas Andrade Campanini pointed out that the company had underfunded pension obligations which require about $8 million in yearly funding. However, the situation looks better today thanks to rising interest rates around the world and L.S. Starrett revealed in its Q1 FY23 financial report that its two pension plans are expected to require contributions of just $2.2 million in FY23 (see page 13 here). Overall, I think that L.S. Starrett is in good shape from a financial standpoint and that its FY23 financial results should benefit from rising interest rates and a weakening US dollar. In my view, the company should be trading at somewhere around 0.8 P/BV to reflect the improved financial performance and diminished pension plan funding issues.
Articolo di analisi • Nov 05

Here's Why L.S. Starrett (NYSE:SCX) Can Manage Its Debt Responsibly

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Articolo di analisi • May 11

These 4 Measures Indicate That L.S. Starrett (NYSE:SCX) Is Using Debt Extensively

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Seeking Alpha • Apr 12

The Starrett Company Is Selling At A Discount Because Of Its Underfunded Pension Plan

SCX manufactures a gigantic array of tools that are sold to several industries and to consumers. The company does not suffer from ultra low margins but does not have a tremendous moat either. Although the company has suffered from volatile revenues, it has consistently increased gross margins and decreased operating expenses. With conservative financing, the company does not seem risky in terms of leverage. However, its underfunded pension obligations require an unaccounted cash expenditure of $8 million per year.
Articolo di analisi • Jan 18

Is L.S. Starrett (NYSE:SCX) Using Too Much Debt?

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Articolo di analisi • Nov 02

There's Been No Shortage Of Growth Recently For L.S. Starrett's (NYSE:SCX) Returns On Capital

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'd...
Articolo di analisi • Oct 07

Why We Think The L.S. Starrett Company's (NYSE:SCX) CEO Compensation Is Not Excessive At All

The L.S. Starrett Company ( NYSE:SCX ) has exhibited strong share price growth in the past few years. However, its...
Seeking Alpha • Sep 08

L.S. Starrett Doubled As Predicted And May Double Again

L.S. Starrett is a microcap tool manufacturer that has rallied on strong and accelerating earnings over the past four quarters. Yet it still trades at a PE ratio of about 6. Earnings growth is being driven by a large permanent cost reduction, a much lower pension obligation, and revenue growth. Despite being solidly profitable and with an improved balance sheet, the stock trades at tangible book value and for 36% of revenues.
Articolo di analisi • Sep 03

Is L.S. Starrett (NYSE:SCX) Using Debt Sensibly?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...
Articolo di analisi • Feb 18

Health Check: How Prudently Does L.S. Starrett (NYSE:SCX) Use Debt?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...
Articolo di analisi • Dec 10

Thomas Riordan Is The Lead Independent Director of The L.S. Starrett Company (NYSE:SCX) And They Just Picked Up 45% More Shares

Whilst it may not be a huge deal, we thought it was good to see that the The L.S. Starrett Company ( NYSE:SCX ) Lead...
Articolo di analisi • Nov 20

Is L.S. Starrett (NYSE:SCX) A Risky Investment?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...

In questa sezione di solito presentiamo le proiezioni di crescita dei ricavi e degli utili basate sulle stime di consenso degli analisti professionisti per aiutare gli investitori a capire la capacità della società di generare profitti. Tuttavia, poiché L.S. Starrett non ha fornito dati sufficienti sul passato e non ha previsioni degli analisti, i suoi utili futuri non possono essere calcolati in modo affidabile estrapolando i dati passati o utilizzando le previsioni degli analisti.

Si tratta di una situazione piuttosto rara, dato che il 97% delle società coperte da SimplyWall St dispone di dati finanziari passati.

Previsioni di crescita degli utili e dei ricavi

NYSE:SCX - Stime future degli analisti e dati finanziari passati (USD Millions )
DataRicaviUtiliFlusso di cassa liberoLiquidità dell'operazioneAvg. Numero di analisti
3/31/202425113620N/A
12/31/2023252191528N/A
9/30/2023256231929N/A
6/30/2023256231725N/A
3/31/2023259171724N/A
12/31/202225814614N/A
9/30/202225314412N/A
6/30/202225415-45N/A
3/31/202224515-9-1N/A
12/31/202123913-10-2N/A
9/30/202123215-11-5N/A
6/30/202122016-15N/A
3/31/2021201-13-15N/A
12/31/2020196-16-53N/A
9/30/2020199-19-36N/A
6/30/2020201-22-12-1N/A
3/31/20202204-100N/A
12/31/20192296-73N/A
9/30/20192286-54N/A
6/30/2019228618N/A
3/31/2019224507N/A
12/31/2018221516N/A
9/30/2018216-3-14N/A
6/30/2018216-4-24N/A
3/31/2018213-5-42N/A
12/31/2017209-7N/A5N/A
9/30/20172101N/A3N/A
6/30/20172071N/A3N/A
3/31/2017207-14N/A6N/A
12/31/2016207-13N/A7N/A
9/30/2016208-13N/A10N/A
6/30/2016210-14N/A14N/A
3/31/20162160N/A12N/A
12/31/20152222N/A7N/A
9/30/20152324N/A7N/A
6/30/20152425N/A7N/A
3/31/20152509N/A10N/A
12/31/20142528N/A11N/A
9/30/20142507N/A11N/A
6/30/20142477N/A11N/A
3/31/20142455N/A19N/A
12/31/20132462N/A22N/A
9/30/20132440N/A23N/A
6/30/20132440N/A21N/A

Previsioni di crescita futura degli analisti

Guadagni vs tasso di risparmio: Dati insufficienti per determinare se la crescita degli utili prevista SCX è superiore al tasso di risparmio ( 2.4% ).

Guadagni vs Mercato: Dati insufficienti per determinare se si prevede che gli utili di SCX cresceranno più velocemente del mercato US

Guadagni ad alta crescita: Dati insufficienti per determinare se si prevede che gli utili di SCX cresceranno in modo significativo nei prossimi 3 anni.

Ricavi vs Mercato: Dati insufficienti per determinare se si prevede che i ricavi di SCX cresceranno più rapidamente del mercato US.

Ricavi ad alta crescita: Dati insufficienti per determinare se si prevede che i ricavi di SCX cresceranno più rapidamente di 20% all'anno.

Previsioni di crescita dell'utile per azione

Rendimento futuro del capitale proprio

ROE futuro: Dati insufficienti per determinare se il Return on Equity di SCX è previsto essere elevato tra 3 anni

Scoprire le aziende in crescita

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Analisi aziendale e situazione dei dati finanziari

DatiUltimo aggiornamento (ora UTC)
Analisi dell'azienda2024/05/23 04:11
Prezzo dell'azione a fine giornata2024/05/23 00:00
Utili2024/03/31
Utili annuali2023/06/30

Fonti dei dati

I dati utilizzati nella nostra analisi aziendale provengono da S&P Global Market Intelligence LLC. I seguenti dati sono utilizzati nel nostro modello di analisi per generare questo report. I dati sono normalizzati, il che può comportare un ritardo nella disponibilità della fonte.

PacchettoDatiTempisticaEsempio Fonte USA *
Dati finanziari della società10 anni
  • Conto economico
  • Rendiconto finanziario
  • Bilancio
Stime di consenso degli analisti+3 anni
  • Previsioni finanziarie
  • Obiettivi di prezzo degli analisti
Prezzi di mercato30 anni
  • Prezzi delle azioni
  • Dividendi, scissioni e azioni
Proprietà10 anni
  • Top azionisti
  • Insider trading
Gestione10 anni
  • Team di leadership
  • Consiglio di amministrazione
Sviluppi principali10 anni
  • Annunci aziendali

* Esempio per i titoli statunitensi, per i titoli non statunitensi si utilizzano forme e fonti normative equivalenti.

Se non specificato, tutti i dati finanziari si basano su un periodo annuale ma vengono aggiornati trimestralmente. Si tratta dei cosiddetti dati TTM (Trailing Twelve Month) o LTM (Last Twelve Month). Per saperne di più.

Modello di analisi e Snowflake

I dettagli del modello di analisi utilizzato per generare questo report sono disponibili sulla nostra pagina Github; abbiamo anche guide su come utilizzare i nostri report e tutorial su Youtube.

Scoprite il team di livello mondiale che ha progettato e realizzato il modello di analisi Simply Wall St.

Metriche di settore e industriali

Le nostre metriche di settore e di sezione sono calcolate ogni 6 ore da Simply Wall St; i dettagli del nostro processo sono disponibili su Github.

Fonti analitiche

The L.S. Starrett Company è coperta da 0 analisti. 0 di questi analisti ha fornito le stime di fatturato o di utile utilizzate come input per il nostro report. Le stime degli analisti vengono aggiornate nel corso della giornata.