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Standard Motor Products

NYSE:SMP
Snowflake Description

Excellent balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SMP
NYSE
$1,000M
Market Cap
  1. Home
  2. US
  3. Automobiles
Company description

Standard Motor Products, Inc. manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. The last earnings update was 77 days ago. More info.


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SMP Share Price and Events
7 Day Returns
2.7%
NYSE:SMP
1.2%
US Auto Components
-0.3%
US Market
1 Year Returns
-7.9%
NYSE:SMP
-27.6%
US Auto Components
3.4%
US Market
SMP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Standard Motor Products (SMP) 2.7% 0.8% -17.1% -7.9% 6.7% 7.6%
US Auto Components 1.2% 0.9% -16% -27.6% -1.4% -11.6%
US Market -0.3% 2.9% 2.1% 3.4% 36.2% 41.3%
1 Year Return vs Industry and Market
  • SMP outperformed the Auto Components industry which returned -27.6% over the past year.
  • SMP underperformed the Market in United States of America which returned 3.4% over the past year.
Price Volatility
SMP
Industry
5yr Volatility vs Market

Value

 Is Standard Motor Products undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Standard Motor Products to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Standard Motor Products.

NYSE:SMP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:SMP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Auto Components Unlevered Beta Simply Wall St/ S&P Global 1.27
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.27 (1 + (1- 21%) (12.22%))
1.263
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.26
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.263 * 5.96%)
10.26%

Discounted Cash Flow Calculation for NYSE:SMP using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Standard Motor Products is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:SMP DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.26%)
2020 27.43 Est @ -2% 24.88
2021 27.27 Est @ -0.58% 22.44
2022 27.39 Est @ 0.41% 20.43
2023 27.69 Est @ 1.11% 18.74
2024 28.13 Est @ 1.59% 17.26
2025 28.68 Est @ 1.93% 15.96
2026 29.30 Est @ 2.17% 14.79
2027 29.98 Est @ 2.34% 13.73
2028 30.72 Est @ 2.46% 12.76
2029 31.50 Est @ 2.54% 11.86
Present value of next 10 years cash flows $172.85
NYSE:SMP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $31.50 × (1 + 2.73%) ÷ (10.26% – 2.73%)
$429.89
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $429.89 ÷ (1 + 10.26%)10
$161.90
NYSE:SMP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $172.85 + $161.90
$334.75
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $334.75 / 22.36
$14.97
NYSE:SMP Discount to Share Price
Calculation Result
Value per share (USD) From above. $14.97
Current discount Discount to share price of $44.71
= -1 x ($44.71 - $14.97) / $14.97
-198.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Standard Motor Products is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Standard Motor Products's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Standard Motor Products's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:SMP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $2.73
NYSE:SMP Share Price ** NYSE (2019-07-18) in USD $44.71
United States of America Auto Components Industry PE Ratio Median Figure of 23 Publicly-Listed Auto Components Companies 14.68x
United States of America Market PE Ratio Median Figure of 3,083 Publicly-Listed Companies 17.88x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Standard Motor Products.

NYSE:SMP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:SMP Share Price ÷ EPS (both in USD)

= 44.71 ÷ 2.73

16.35x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Standard Motor Products is overvalued based on earnings compared to the US Auto Components industry average.
  • Standard Motor Products is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Standard Motor Products's expected growth come at a high price?
Raw Data
NYSE:SMP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 16.35x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
12.8%per year
United States of America Auto Components Industry PEG Ratio Median Figure of 21 Publicly-Listed Auto Components Companies 1.06x
United States of America Market PEG Ratio Median Figure of 2,124 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

NYSE:SMP PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 16.35x ÷ 12.8%

1.28x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Standard Motor Products is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Standard Motor Products's assets?
Raw Data
NYSE:SMP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $21.15
NYSE:SMP Share Price * NYSE (2019-07-18) in USD $44.71
United States of America Auto Components Industry PB Ratio Median Figure of 40 Publicly-Listed Auto Components Companies 1.33x
United States of America Market PB Ratio Median Figure of 5,245 Publicly-Listed Companies 1.8x
NYSE:SMP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:SMP Share Price ÷ Book Value per Share (both in USD)

= 44.71 ÷ 21.15

2.11x

* Primary Listing of Standard Motor Products.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Standard Motor Products is overvalued based on assets compared to the US Auto Components industry average.
X
Value checks
We assess Standard Motor Products's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Auto Components industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Auto Components industry average (and greater than 0)? (1 check)
  5. Standard Motor Products has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Standard Motor Products expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
12.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Standard Motor Products expected to grow at an attractive rate?
  • Standard Motor Products's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Standard Motor Products's earnings growth is positive but not above the United States of America market average.
  • Standard Motor Products's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:SMP Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:SMP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 12.8%
NYSE:SMP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 4.2%
United States of America Auto Components Industry Earnings Growth Rate Market Cap Weighted Average 17.1%
United States of America Auto Components Industry Revenue Growth Rate Market Cap Weighted Average 5.6%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:SMP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:SMP Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 1,206 75 3
2019-12-31 1,163 83 65 3
NYSE:SMP Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,114 50 61
2018-12-31 1,092 70 57
2018-09-30 1,085 95 37
2018-06-30 1,069 76 34
2018-03-31 1,096 85 36
2017-12-31 1,116 65 44
2017-09-30 1,106 52 61
2017-06-30 1,126 67 65
2017-03-31 1,102 72 66
2016-12-31 1,058 98 62
2016-09-30 1,034 75 59
2016-06-30 1,003 63 57

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Standard Motor Products's earnings are expected to grow by 12.8% yearly, however this is not considered high growth (20% yearly).
  • Standard Motor Products's revenue is expected to grow by 4.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:SMP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Standard Motor Products Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:SMP Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 3.15 3.15 3.15 1.00
2019-12-31 2.84 2.84 2.84 1.00
NYSE:SMP Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 2.73
2018-12-31 2.53
2018-09-30 1.63
2018-06-30 1.53
2018-03-31 1.58
2017-12-31 1.92
2017-09-30 2.66
2017-06-30 2.83
2017-03-31 2.90
2016-12-31 2.75
2016-09-30 2.62
2016-06-30 2.53

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Standard Motor Products will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Standard Motor Products's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Standard Motor Products has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Standard Motor Products performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Standard Motor Products's growth in the last year to its industry (Auto Components).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Standard Motor Products's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Standard Motor Products's 1-year earnings growth exceeds its 5-year average (71.1% vs -1.5%)
  • Standard Motor Products's earnings growth has exceeded the US Auto Components industry average in the past year (71.1% vs 2.9%).
Earnings and Revenue History
Standard Motor Products's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Standard Motor Products Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:SMP Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,113.99 61.36 208.66
2018-12-31 1,092.05 56.85 206.67
2018-09-30 1,085.06 36.59 202.93
2018-06-30 1,069.50 34.43 198.59
2018-03-31 1,095.59 35.86 201.08
2017-12-31 1,116.14 43.63 200.98
2017-09-30 1,105.96 60.58 202.86
2017-06-30 1,125.70 64.52 209.67
2017-03-31 1,101.95 66.12 205.58
2016-12-31 1,058.48 62.41 202.36
2016-09-30 1,033.65 59.35 193.28
2016-06-30 1,002.89 57.49 196.81
2016-03-31 983.30 51.44 194.69
2015-12-31 971.98 48.12 191.99
2015-09-30 985.06 53.86 198.21
2015-06-30 972.07 52.47 178.02
2015-03-31 975.23 49.83 182.53
2014-12-31 980.39 52.90 180.43
2014-09-30 981.05 50.77 171.60
2014-06-30 988.16 50.65 183.60
2014-03-31 985.75 55.88 181.94
2013-12-31 983.70 53.04 187.36
2013-09-30 957.35 49.96 195.99
2013-06-30 969.16 49.72 196.31
2013-03-31 967.91 47.04 192.33
2012-12-31 948.92 42.97 173.80
2012-09-30 930.73 66.18 183.83

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Standard Motor Products has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Standard Motor Products used its assets more efficiently than the US Auto Components industry average last year based on Return on Assets.
  • Standard Motor Products's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Standard Motor Products's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Auto Components industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Standard Motor Products has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Standard Motor Products's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Standard Motor Products's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Standard Motor Products is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Standard Motor Products's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Standard Motor Products's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 6.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Standard Motor Products Company Filings, last reported 3 months ago.

NYSE:SMP Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 473.04 83.90 11.75
2018-12-31 467.20 49.22 11.14
2018-09-30 474.05 51.01 27.32
2018-06-30 462.37 93.73 18.57
2018-03-31 459.51 95.92 26.23
2017-12-31 453.65 61.78 17.32
2017-09-30 469.52 73.14 25.40
2017-06-30 472.22 79.09 16.39
2017-03-31 457.57 82.20 15.58
2016-12-31 441.03 54.98 19.80
2016-09-30 438.54 70.18 30.54
2016-06-30 420.48 100.18 12.40
2016-03-31 405.15 49.66 13.36
2015-12-31 391.98 47.51 18.80
2015-09-30 392.36 24.58 13.36
2015-06-30 386.60 53.05 12.70
2015-03-31 380.55 71.76 8.12
2014-12-31 374.15 56.82 13.73
2014-09-30 366.33 59.27 10.59
2014-06-30 363.55 59.10 6.22
2014-03-31 355.83 33.07 4.42
2013-12-31 349.43 21.48 5.56
2013-09-30 347.29 32.29 10.10
2013-06-30 330.63 68.47 12.28
2013-03-31 317.66 75.72 9.72
2012-12-31 307.59 40.65 13.07
2012-09-30 303.37 60.48 10.89
  • Standard Motor Products's level of debt (17.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (9.4% vs 17.7% today).
  • Debt is well covered by operating cash flow (59.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 24.9x coverage).
X
Financial health checks
We assess Standard Motor Products's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Standard Motor Products has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Standard Motor Products's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.06%
Current annual income from Standard Motor Products dividends.
If you bought $2,000 of Standard Motor Products shares you are expected to receive $41 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Standard Motor Products's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).
  • Standard Motor Products's dividend is below the markets top 25% of dividend payers in United States of America (3.76%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:SMP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America Auto Components Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 2.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:SMP Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2019-12-31
NYSE:SMP Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-02 0.920 2.028
2019-04-30 0.920 1.881
2019-02-04 0.920 1.833
2018-10-30 0.840 1.655
2018-10-26 0.840 1.584
2018-07-31 0.840 1.726
2018-07-26 0.840 1.797
2018-05-04 0.840 1.792
2018-05-03 0.840 1.856
2018-02-01 0.840 1.761
2017-10-26 0.760 1.706
2017-07-31 0.760 1.642
2017-05-04 0.760 1.499
2017-05-03 0.760 1.476
2017-02-01 0.760 1.554
2016-10-28 0.680 1.330
2016-10-27 0.680 1.438
2016-08-03 0.680 1.495
2016-05-04 0.680 1.740
2016-01-12 0.680 1.984
2015-10-30 0.600 1.483
2015-10-29 0.600 1.414
2015-07-31 0.600 1.684
2015-07-30 0.600 1.659
2015-05-04 0.600 1.687
2015-04-30 0.600 1.632
2015-02-02 0.600 1.472
2014-10-30 0.520 1.387
2014-07-30 0.520 1.425
2014-05-01 0.520 1.233
2014-02-03 0.520 1.497
2013-10-31 0.440 1.272
2013-08-07 0.440 1.367
2013-05-03 0.440 1.287
2013-01-30 0.440 1.663
2012-10-31 0.360 1.729
2012-08-06 0.360 2.012
2012-05-03 0.360 2.688
2012-01-30 0.360 1.916
2011-11-01 0.280 1.430
2011-07-27 0.280 2.121
2011-05-04 0.280 1.910
2011-01-18 0.280 2.203
2010-11-04 0.200 1.495
2010-11-02 0.200 1.603
2010-08-02 0.200 1.995
2010-05-05 0.200 2.361
2010-01-19 0.200 2.137
2009-10-27 0.000 0.000
2009-08-06 0.000 0.000
2009-08-05 0.000 0.000
2009-05-08 0.000 0.000
2009-05-06 0.000 0.000
2009-01-16 0.000 0.000
2008-10-30 0.360 11.282
2008-08-04 0.360 6.381

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Standard Motor Products's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Standard Motor Products's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Standard Motor Products afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Standard Motor Products has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Standard Motor Products's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Eric Sills
COMPENSATION $1,044,357
AGE 50
TENURE AS CEO 3.3 years
CEO Bio

Mr. Eric Philip Sills has been the President and Chief Executive Officer of Standard Motor Products, Inc. since February 2, 2015 and March 31, 2016 respectively. Mr. Sills served as a Vice President of Global Operations at Standard Motor Products, Inc. from January 2013 to February 2, 2015 and served as its Vice President of Engine Management Division from September 2006 to January 2013. From 1991 to September 2006, Mr. Sills served in various capacities at Standard Motor Products, Inc., most recently as its General Manager of LIC Operations, Director of Product Management and Plant Manager of Oxygen Sensor Business Unit. He has been a Member of the Board of Governors at Automotive Aftermarket Suppliers Association since January 2017. He has been a Director of Standard Motor Products, Inc. since March 31, 2016. He had served as Director of Orange Electronic Co., Ltd. since May 28, 2015. He is a Representative Director for Standard Motor Products (HK) Limited. He has completed an Advanced Management Program at Harvard Business School. Mr. Sills holds an MBA from Columbia University and a BA from Bowdoin College.

CEO Compensation
  • Eric's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Eric's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Standard Motor Products management team in years:

6.4
Average Tenure
61.5
Average Age
  • The average tenure for the Standard Motor Products management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Larry Sills

TITLE
Executive Chairman
COMPENSATION
$733K
AGE
79

Eric Sills

TITLE
CEO, President & Director
COMPENSATION
$1M
AGE
50
TENURE
3.3 yrs

Jim Burke

TITLE
CFO & COO
COMPENSATION
$2M
AGE
64
TENURE
19.8 yrs

Carmine Broccole

TITLE
Senior VP
COMPENSATION
$809K
AGE
53
TENURE
14.9 yrs

Dale Burks

TITLE
Executive VP & Chief Commercial Officer
COMPENSATION
$958K
AGE
59
TENURE
3.3 yrs

John Gethin

TITLE
Outside Consultant & Director
COMPENSATION
$187K
AGE
70
TENURE
3.3 yrs

William Fazio

TITLE
Chief Accounting Officer
AGE
64
TENURE
11.3 yrs

Ray Nicholas

TITLE
VP of Information Technology & Chief Information Officer
AGE
55
TENURE
6.4 yrs

Thomas Tesoro

TITLE
Vice President of Human Resources
AGE
64
TENURE
12.8 yrs

Erin Pawlish

TITLE
Treasurer
AGE
43
TENURE
3.7 yrs
Board of Directors Tenure

Average tenure and age of the Standard Motor Products board of directors in years:

9.3
Average Tenure
69
Average Age
  • The tenure for the Standard Motor Products board of directors is about average.
Board of Directors

Larry Sills

TITLE
Executive Chairman
COMPENSATION
$733K
AGE
79
TENURE
18.6 yrs

Eric Sills

TITLE
CEO, President & Director
COMPENSATION
$1M
AGE
50
TENURE
3.3 yrs

John Gethin

TITLE
Outside Consultant & Director
COMPENSATION
$187K
AGE
70
TENURE
3.3 yrs

Bill Turner

TITLE
Presiding Independent Director
COMPENSATION
$202K
AGE
79
TENURE
13.5 yrs

Richard Ward

TITLE
Independent Director
COMPENSATION
$182K
AGE
78
TENURE
15 yrs

Roger Widmann

TITLE
Independent Director
COMPENSATION
$183K
AGE
79
TENURE
14.2 yrs

Pamela Lieberman

TITLE
Independent Director
COMPENSATION
$194K
AGE
65
TENURE
11.9 yrs

Alisa Norris

TITLE
Independent Director
COMPENSATION
$172K
AGE
49
TENURE
6.8 yrs

Joseph McDonnell

TITLE
Independent Director
COMPENSATION
$172K
AGE
68
TENURE
6.8 yrs

Patrick McClymont

TITLE
Independent Director
COMPENSATION
$172K
AGE
49
TENURE
2.4 yrs
Who owns this company?
Recent Insider Trading
  • Standard Motor Products individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
08. Jul 19 Sell Thomas Tesoro Individual 05. Jul 19 05. Jul 19 -7,000 $44.25 $-309,750
30. May 19 Sell Lawrence Sills Individual 28. May 19 28. May 19 -3,757 $45.59 $-171,282
24. May 19 Sell Lawrence Sills Individual 22. May 19 24. May 19 -13,713 $46.42 $-625,344
06. May 19 Sell Thomas Tesoro Individual 02. May 19 02. May 19 -1,851 $48.00 $-88,848
06. May 19 Sell Roger Widmann Individual 02. May 19 02. May 19 -125 $48.43 $-6,054
20. Feb 19 Sell Dale Burks Individual 19. Feb 19 19. Feb 19 -1,431 $49.65 $-71,049
22. Oct 18 Sell Thomas Tesoro Individual 22. Oct 18 22. Oct 18 -450 $43.93 $-19,769
15. Oct 18 Sell Ray Nicholas Individual 15. Oct 18 15. Oct 18 -1,000 $43.65 $-43,650
15. Oct 18 Sell Eric Sills Individual 15. Oct 18 15. Oct 18 -1,015 $43.60 $-44,254
15. Oct 18 Sell Dale Burks Individual 15. Oct 18 15. Oct 18 -925 $44.06 $-40,756
15. Oct 18 Sell Lawrence Sills Individual 15. Oct 18 15. Oct 18 -1,000 $44.14 $-44,140
15. Oct 18 Sell Thomas Tesoro Individual 15. Oct 18 15. Oct 18 -1,100 $44.13 $-48,543
15. Oct 18 Sell Carmine Broccole Individual 15. Oct 18 15. Oct 18 -825 $44.07 $-36,358
12. Sep 18 Sell Thomas Tesoro Individual 12. Sep 18 12. Sep 18 -1,000 $51.22 $-51,220
14. Aug 18 Sell Frederick Sturdivant Individual 14. Aug 18 14. Aug 18 -4,000 $50.00 $-200,000
03. Aug 18 Sell Ray Nicholas Individual 03. Aug 18 03. Aug 18 -1,281 $48.04 $-61,539
X
Management checks
We assess Standard Motor Products's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Standard Motor Products has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Here's Why Standard Motor Products (NYSE:SMP) Can Manage Its Debt Responsibly

NYSE:SMP Historical Debt, July 5th 2019 How Strong Is Standard Motor Products's Balance Sheet? … Because it carries more debt than cash, we think it's worth watching Standard Motor Products's balance sheet over time. … Considering this range of data points, we think Standard Motor Products is in a good position to manage its debt levels.

Simply Wall St -

Standard Motor Products, Inc. (NYSE:SMP) Earns A Nice Return On Capital Employed

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Standard Motor Products: 0.19 = US$110m ÷ (US$913m - US$346m) (Based on the trailing twelve months to March 2019.) Therefore, Standard Motor Products has an ROCE of 19%. … What Are Current Liabilities, And How Do They Affect Standard Motor Products's ROCE? … With this level of current liabilities, Standard Motor Products's ROCE is boosted somewhat.

Simply Wall St -

Standard Motor Products, Inc. (NYSE:SMP) Delivered A Weaker ROE Than Its Industry

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Standard Motor Products: 13% = US$61m ÷ US$473m (Based on the trailing twelve months to March 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Does Standard Motor Products Have A Good Return On Equity? … Combining Standard Motor Products's Debt And Its 13% Return On Equity Standard Motor Products has a debt to equity ratio of 0.18, which is far from excessive.

Simply Wall St -

Should You Be Concerned About Standard Motor Products, Inc.'s (NYSE:SMP) Historical Volatility?

If the future looks like the past, we could therefore consider it likely that the stock price will experience share price volatility that is roughly similar to the overall market. … With a market capitalisation of US$947m, Standard Motor Products is a small cap stock. … What this means for you: Since Standard Motor Products has a beta close to one, it will probably show a positive return when the market is moving up, based on history.

Simply Wall St -

If You Had Bought Standard Motor Products (NYSE:SMP) Stock Three Years Ago, You Could Pocket A 20% Gain Today

Standard Motor Products was able to grow its EPS at 6.5% per year over three years, sending the share price higher. … When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. … A Different Perspective Standard Motor Products shareholders have received returns of 3.7% over twelve months (even including dividends), which isn't far from the general market return.

Simply Wall St -

What Does Standard Motor Products, Inc.'s (NYSE:SMP) P/E Ratio Tell You?

Check out our latest analysis for Standard Motor Products How Do I Calculate A Price To Earnings Ratio? … The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Standard Motor Products: P/E of 17.64 = $48.25 ÷ $2.73 (Based on the trailing twelve months to March 2019.) Is A High Price-to-Earnings Ratio Good? … NYSE:SMP Price Estimation Relative to Market, May 13th 2019 Its relatively high P/E ratio indicates that Standard Motor Products shareholders think it will perform better than other companies in its industry classification.

Simply Wall St -

Should You Buy Standard Motor Products, Inc. (NYSE:SMP) For Its Dividend?

On the other hand, investors have been known to buy a stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations.. … With a 1.8% yield and a nine-year payment history, investors probably think Standard Motor Products looks like a reliable dividend stock. … Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1

Simply Wall St -

Does Standard Motor Products, Inc.'s (NYSE:SMP) 30% Earnings Growth Make It An Outperformer?

Assessing Standard Motor Products, Inc.'s (NYSE:SMP) past track record of performance is a valuable exercise for investors. … Today I will assess SMP's recent performance announced on 31 December 2018 and evaluate these figures to its longer term trend and industry movements. … View our latest analysis for Standard Motor Products?

Simply Wall St -

Have Insiders Been Selling Standard Motor Products, Inc. (NYSE:SMP) Shares?

The Last 12 Months Of Insider Transactions At Standard Motor Products. … All up, insiders sold more shares in Standard Motor Products than they bought, over the last year. … It's not particularly great to see insiders were selling shares around current prices

Simply Wall St -

What Can We Make Of Standard Motor Products, Inc.’s (NYSE:SMP) High Return On Capital?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Company Info

Description

Standard Motor Products, Inc. manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. The company operates in two segments, Engine Management and Temperature Control. The Engine Management segment offers electronic ignition control modules, new and remanufactured fuel injectors, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, sensors, electronic throttle bodies, keyless entry transmitters, safety-related components, and other engine management components. It offers its products primarily under the Standard, Blue Streak, Intermotor, Standard Diesel, BWD Select, BWD, OEM, TechSmart, Tech Expert, GP Sorensen, LockSmart, and SMP Blue Streak brand names, as well as under private labels comprising NAPA Echlin NAPA Belden. The Temperature Control segment provides components for the temperature control systems, engine cooling systems, power window accessories, and windshield washer systems of motor vehicles under the Four Seasons, EVERCO, ACI, Hayden, Pro Source, and Factory Air brands. It provides new and remanufactured air conditioning compressors, air conditioning compressor repair kits, clutch assemblies, blower and radiator fan motors, filter dryers, evaporators, accumulators, hose assemblies, thermal expansion devices, heater valves and cores, A/C service tools and chemicals, fan assemblies and clutches, oil coolers, window lift motors, window regulators and assemblies, and windshield washer pumps. The company sells its products primarily to automotive aftermarket retailers, program distribution groups, warehouse distributors, original equipment manufacturers, and original equipment service part operations in the United States, Canada, Mexico, Europe, Asia, and other Latin American countries. Standard Motor Products, Inc. was founded in 1919 and is headquartered in Long Island City, New York.

Details
Name: Standard Motor Products, Inc.
SMP
Exchange: NYSE
Founded: 1919
$999,567,833
22,356,695
Website: http://www.smpcorp.com
Address: Standard Motor Products, Inc.
37-18 Northern Boulevard,
Long Island City,
New York, 11101,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE SMP Common Stock New York Stock Exchange US USD 03. Jan 1968
DB SRU Common Stock Deutsche Boerse AG DE EUR 03. Jan 1968
Number of employees
Current staff
Staff numbers
4,400
Standard Motor Products employees.
Industry
Auto Parts and Equipment
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 23:55
End of day share price update: 2019/07/18 00:00
Last estimates confirmation: 2019/07/16
Last earnings filing: 2019/05/02
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.