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Stoneridge

NYSE:SRI
Snowflake Description

Flawless balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SRI
NYSE
$904M
Market Cap
  1. Home
  2. US
  3. Automobiles
Company description

Stoneridge, Inc. designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. The last earnings update was 78 days ago. More info.


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SRI Share Price and Events
7 Day Returns
1.5%
NYSE:SRI
1.2%
US Auto Components
-0.3%
US Market
1 Year Returns
-8.4%
NYSE:SRI
-27.6%
US Auto Components
3.4%
US Market
SRI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Stoneridge (SRI) 1.5% 4.4% -1.5% -8.4% 93.3% 184%
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
  • SRI outperformed the Auto Components industry which returned -27.6% over the past year.
  • SRI underperformed the Market in United States of America which returned 3.4% over the past year.
Price Volatility
SRI
Industry
5yr Volatility vs Market

SRI Value

 Is Stoneridge 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 Stoneridge 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 Stoneridge.

NYSE:SRI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.2%
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:SRI
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))
= 1.265 (1 + (1- 21%) (12.4%))
1.261
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% + (1.261 * 5.96%)
10.24%

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

The calculations below outline how an intrinsic value for Stoneridge 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:SRI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.24%)
2020 54.20 Analyst x1 49.16
2021 56.92 Est @ 5.02% 46.83
2022 59.38 Est @ 4.33% 44.32
2023 61.67 Est @ 3.85% 41.75
2024 63.84 Est @ 3.51% 39.20
2025 65.93 Est @ 3.28% 36.72
2026 67.98 Est @ 3.11% 34.35
2027 70.02 Est @ 3% 32.09
2028 72.06 Est @ 2.92% 29.96
2029 74.13 Est @ 2.86% 27.95
Present value of next 10 years cash flows $382.34
NYSE:SRI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $74.13 × (1 + 2.73%) ÷ (10.24% – 2.73%)
$1,013.42
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,013.42 ÷ (1 + 10.24%)10
$382.15
NYSE:SRI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $382.34 + $382.15
$764.49
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $764.49 / 28.69
$26.64
NYSE:SRI Discount to Share Price
Calculation Result
Value per share (USD) From above. $26.64
Current discount Discount to share price of $31.52
= -1 x ($31.52 - $26.64) / $26.64
-18.3%

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

  • The current share price of Stoneridge 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 Stoneridge's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Stoneridge's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:SRI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.76
NYSE:SRI Share Price ** NYSE (2019-07-18) in USD $31.52
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 Stoneridge.

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

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

= 31.52 ÷ 1.76

17.9x

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

  • Stoneridge is overvalued based on earnings compared to the US Auto Components industry average.
  • Stoneridge is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Stoneridge's expected growth come at a high price?
Raw Data
NYSE:SRI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.9x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
16.8%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:SRI PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.9x ÷ 16.8%

1.07x

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

  • Stoneridge is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Stoneridge's assets?
Raw Data
NYSE:SRI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $10.03
NYSE:SRI Share Price * NYSE (2019-07-18) in USD $31.52
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:SRI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 31.52 ÷ 10.03

3.14x

* Primary Listing of Stoneridge.

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

  • Stoneridge is overvalued based on assets compared to the US Auto Components industry average.
X
Value checks
We assess Stoneridge'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. Stoneridge has a total score of 0/6, 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.

SRI Future Performance

 How is Stoneridge expected to perform in the next 1 to 3 years based on estimates from 5 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
16.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Stoneridge expected to grow at an attractive rate?
  • Stoneridge's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Stoneridge's earnings growth is expected to exceed the United States of America market average.
  • Stoneridge's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:SRI Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:SRI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 16.8%
NYSE:SRI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 2.9%
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:SRI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:SRI Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31
2020-12-31 882 89 60 5
2019-12-31 845 77 46 5
NYSE:SRI Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 859 65 50
2018-12-31 866 81 54
2018-09-30 863 75 61
2018-06-30 858 81 55
2018-03-31 846 79 49
2017-12-31 824 79 45
2017-09-30 790 79 75
2017-06-30 760 75 77
2017-03-31 738 74 79
2016-12-31 696 65 77
2016-09-30 678 75 35
2016-06-30 666 71 32

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Stoneridge's earnings are expected to grow by 16.8% yearly, however this is not considered high growth (20% yearly).
  • Stoneridge's revenue is expected to grow by 2.9% 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:SRI 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 5 Analyst Estimates (S&P Global) See Below

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

NYSE:SRI Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 2.08 2.15 1.95 4.00
2019-12-31 1.55 1.63 1.44 4.00
NYSE:SRI Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.76
2018-12-31 1.90
2018-09-30 2.14
2018-06-30 1.96
2018-03-31 1.75
2017-12-31 1.61
2017-09-30 2.67
2017-06-30 2.75
2017-03-31 2.85
2016-12-31 2.79
2016-09-30 1.27
2016-06-30 1.17

*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 Stoneridge will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Stoneridge'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.
Stoneridge has a total score of 2/6, 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.

SRI Past Performance

  How has Stoneridge 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 Stoneridge'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.
  • Stoneridge has delivered over 20% year on year earnings growth in the past 5 years.
  • Stoneridge's 1-year earnings growth is less than its 5-year average (1.6% vs 44.6%)
  • Stoneridge's earnings growth has not exceeded the US Auto Components industry average in the past year (1.6% vs 2.9%).
Earnings and Revenue History
Stoneridge'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 Stoneridge Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:SRI Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 858.57 50.13 133.59 49.51
2018-12-31 866.20 53.85 135.82 50.92
2018-09-30 862.83 60.70 134.93 52.24
2018-06-30 857.55 55.46 137.76 51.84
2018-03-31 846.06 49.36 136.70 51.02
2017-12-31 824.44 45.18 133.53 48.88
2017-09-30 789.62 74.64 128.62 45.03
2017-06-30 759.88 76.87 120.58 43.21
2017-03-31 737.67 79.43 116.10 41.01
2016-12-31 695.98 77.46 108.30 39.11
2016-09-30 678.01 35.16 105.46 38.91
2016-06-30 666.22 32.36 104.36 38.30
2016-03-31 644.60 27.71 104.03 38.51
2015-12-31 644.81 22.98 109.66 38.46
2015-09-30 656.98 -7.95 114.62 39.09
2015-06-30 665.26 -7.45 119.42 39.74
2015-03-31 662.07 -35.72 122.55 40.28
2014-12-31 660.58 -37.72 122.58 41.44
2014-09-30 663.00 -9.49 93.23 72.09
2014-06-30 654.22 -10.47 99.75 61.90
2014-03-31 661.96 16.66 110.69 51.31
2013-12-31 659.49 19.15 122.71 40.37
2013-09-30 712.98 18.40 168.17
2013-06-30 770.68 11.83 175.73
2013-03-31 835.11 2.49 184.27
2012-12-31 612.47 -2.16 125.58 38.61
2012-09-30 901.84 41.32 181.53

*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.
  • Stoneridge has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Stoneridge used its assets more efficiently than the US Auto Components industry average last year based on Return on Assets.
  • Stoneridge has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Stoneridge'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.
Stoneridge 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.

SRI Health

 How is Stoneridge'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 Stoneridge's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Stoneridge is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Stoneridge's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Stoneridge'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 3.5x 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 Stoneridge Company Filings, last reported 3 months ago.

NYSE:SRI Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 287.76 92.86 53.09
2018-12-31 283.27 98.52 81.09
2018-09-30 269.40 104.03 60.66
2018-06-30 258.05 114.97 58.97
2018-03-31 259.62 122.87 57.40
2017-12-31 244.07 129.04 66.00
2017-09-30 224.53 135.52 50.79
2017-06-30 208.34 144.43 44.22
2017-03-31 207.64 155.23 44.91
2016-12-31 192.08 83.69 50.39
2016-09-30 144.62 105.17 50.56
2016-06-30 133.90 120.80 55.28
2016-03-31 117.76 121.03 48.37
2015-12-31 106.43 118.36 54.36
2015-09-30 99.92 122.90 29.29
2015-06-30 108.45 127.63 22.86
2015-03-31 99.81 123.39 23.87
2014-12-31 113.81 130.31 43.02
2014-09-30 156.54 183.24 40.95
2014-06-30 170.35 205.10 45.76
2014-03-31 194.90 205.64 48.43
2013-12-31 188.53 197.23 62.83
2013-09-30 195.19 196.66 46.06
2013-06-30 188.09 199.29 37.02
2013-03-31 201.79 211.15 46.72
2012-12-31 193.83 201.40 44.56
2012-09-30 190.98 222.30 35.57
  • Stoneridge's level of debt (32.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (105.7% vs 32.3% today).
  • Debt is well covered by operating cash flow (70.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 15.7x coverage).
X
Financial health checks
We assess Stoneridge'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. Stoneridge has a total score of 6/6, 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.

SRI Dividends

 What is Stoneridge'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
0%
Current annual income from Stoneridge dividends.
If you bought $2,000 of Stoneridge shares you are expected to receive $0 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?
  • Unable to evaluate Stoneridge's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Stoneridge's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:SRI 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 5 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:SRI Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31

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

  • Unable to perform a dividend volatility check as Stoneridge has not reported any payouts.
  • Unable to verify if Stoneridge's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Stoneridge's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Stoneridge has not reported any payouts.
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 Stoneridge'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 Stoneridge afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Stoneridge has a total score of 0/6, see the detailed checks below.


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

SRI Management

 What is the CEO of Stoneridge'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
Jon DeGaynor
COMPENSATION $3,142,035
AGE 52
TENURE AS CEO 4.3 years
CEO Bio

Mr. Jonathan B. DeGaynor, also known as Jon, has been the Chief Executive Officer and President of Stoneridge Inc. since March 30, 2015. Mr. DeGaynor served as the Vice President of Strategic Planning and Innovation for Guardian Industrial Corp. from October 2014 until March 2015. Mr. DeGaynor has spent the majority of his career in the automotive and commercial vehicle industries with key roles in sales and marketing, product development and operations. Mr. DeGaynor served as Chief Operating Officer of International Operations of Autocam Corporation and Titan Holdings Inc. since September 2005 Until 2008. Mr. DeGaynor served as Vice President of Business Development and Strategy and Managing Director of Asia at SRG Global, Inc. from 2008 through September 2014. Prior to that, he worked 17 years first at General Motors Corporation and then at Delphi Corporation, most recently as the Business Line Executive for the Diesel Business Line based in Paris, France. He has been a Director of Stoneridge Inc. since May 2015. Mr. DeGaynor earned a Bachelor of Science in Mechanical Engineering at the University of Michigan and a Masters in Business Administration from The University of Pennsylvania's Wharton School of Business.

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

Average tenure and age of the Stoneridge management team in years:

3
Average Tenure
52
Average Age
  • The tenure for the Stoneridge management team is about average.
Management Team

Jon DeGaynor

TITLE
CEO, President & Director
COMPENSATION
$3M
AGE
52
TENURE
4.3 yrs

Bob Krakowiak

TITLE
Executive VP
COMPENSATION
$1M
AGE
48
TENURE
2.9 yrs

Tom Dono

TITLE
Chief Legal Officer & Secretary
COMPENSATION
$886K
AGE
46
TENURE
1.5 yrs

Thomas Beaver

TITLE
VP & President of Global Sales
COMPENSATION
$857K
AGE
65
TENURE
7.2 yrs

Bob Willig

TITLE
President of the Control Devices Division
COMPENSATION
$837K
AGE
56
TENURE
1.8 yrs

Anthony Moore

TITLE
Vice President of Operations
COMPENSATION
$874K
AGE
55
TENURE
3.2 yrs

Robert Hartman

TITLE
Chief Accounting Officer
AGE
52
TENURE
3 yrs

Laurent Borne

TITLE
CTO & President of Electronics Division
AGE
43
TENURE
0.9 yrs

Theresa Mitchell

TITLE
Chief Information Officer
TENURE
3.5 yrs

Matthew Horvath

TITLE
Director of Investor Relations and M&A
Board of Directors Tenure

Average tenure and age of the Stoneridge board of directors in years:

11.6
Average Tenure
64.5
Average Age
  • The average tenure for the Stoneridge board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Bill Lasky

TITLE
Non-Executive Chairman & Lead Independent Director
COMPENSATION
$263K
AGE
71
TENURE
12.8 yrs

Jon DeGaynor

TITLE
CEO, President & Director
COMPENSATION
$3M
AGE
52
TENURE
4.2 yrs

Douglas Jacobs

TITLE
Independent Director
COMPENSATION
$198K
AGE
77
TENURE
15 yrs

Mary Kim Korth

TITLE
Independent Director
COMPENSATION
$195K
AGE
64
TENURE
12.8 yrs

George Mayes

TITLE
Independent Director
COMPENSATION
$185K
AGE
60
TENURE
6.6 yrs

Jeffrey Draime

TITLE
Independent Director
COMPENSATION
$185K
AGE
52
TENURE
14.3 yrs

Paul Schlather

TITLE
Independent Director
COMPENSATION
$185K
AGE
66
TENURE
10.5 yrs

Ira Kaplan

TITLE
Independent Director
COMPENSATION
$185K
AGE
65
TENURE
10.5 yrs
Who owns this company?
Recent Insider Trading
  • Stoneridge individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
13. Jun 19 Sell Robert Hartman Individual 12. Jun 19 12. Jun 19 -5,601 $28.75 $-161,029
12. Jun 19 Sell Anthony Moore Individual 10. May 19 10. May 19 -15,022 $28.76 $-432,000
31. May 19 Sell Thomas Beaver Individual 30. May 19 30. May 19 -21,093 $26.49 $-558,754
28. May 19 Sell Anthony Moore Individual 24. May 19 24. May 19 -7,000 $26.50 $-185,500
X
Management checks
We assess Stoneridge'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. Stoneridge 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.

SRI News

Simply Wall St News

Is There More To Stoneridge, Inc. (NYSE:SRI) Than Its 16% Returns On Capital?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … 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 Stoneridge: 0.16 = US$68m ÷ (US$582m - US$157m) (Based on the trailing twelve months to March 2019.) Therefore, Stoneridge has an ROCE of 16%. … Stoneridge's Current Liabilities And Their Impact On Its ROCE Liabilities, such as supplier bills and bank overdrafts, are referred to as current liabilities if they need to be paid within 12 months.

Simply Wall St -

Is It Too Late To Consider Buying Stoneridge, Inc. (NYSE:SRI)?

However, could the stock still be trading at a relatively cheap price? … According to my valuation model, Stoneridge seems to be fairly priced at around 19.86% above my intrinsic value, which means if you buy Stoneridge today, you’d be paying a relatively fair price for it. … The price seems to be trading at fair value, which means there’s less benefit from mispricing.

Simply Wall St -

A Note On Stoneridge, Inc.'s (NYSE:SRI) ROE and Debt To Equity

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Stoneridge: 17% = US$50m ÷ US$288m (Based on the trailing twelve months to March 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Combining Stoneridge's Debt And Its 17% Return On Equity Although Stoneridge does use debt, its debt to equity ratio of 0.32 is still low. … A company that can achieve a high return on equity without debt could be considered a high quality business.

Simply Wall St -

Does Stoneridge, Inc. (NYSE:SRI) Have A Particularly Volatile Share Price?

(NYSE:SRI), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … It's not particularly surprising that it has a higher beta than the overall market.

Simply Wall St -

A Look At The Fair Value Of Stoneridge, Inc. (NYSE:SRI)

Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $42.88 $54.20 $56.92 $59.38 $61.67 $63.84 $65.93 $67.98 $70.02 $72.06 Growth Rate Estimate Source Analyst x2 Analyst x1 Est @ 5.02% Est @ 4.33% Est @ 3.85% Est @ 3.51% Est @ 3.28% Est @ 3.11% Est @ 3% Est @ 2.92% Present Value ($, Millions) Discounted @ 9.68% $39.10 $45.06 $43.14 $41.04 $38.86 $36.68 $34.54 $32.47 $30.50 $28.62 Present Value of 10-year Cash Flow (PVCF)= $370.01m "Est" = FCF growth rate estimated by Simply Wall St The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = US$72m × (1 + 2.7%) ÷ (9.7% – 2.7%) = US$1.1b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = $US$1.1b ÷ ( 1 + 9.7%)10 = $423.29m The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is $793.30m. … NYSE:SRI Intrinsic value, May 29th 2019 The assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

Stoneridge, Inc. (NYSE:SRI): Did It Outperform The Industry?

View our latest analysis for Stoneridge Have SRI's earnings improved against past performances and the industry? … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 45%, indicating the rate at which SRI is growing has slowed down. … I suggest you continue to research Stoneridge to get a more holistic view of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for SRI’s future growth?

Simply Wall St -

If You Had Bought Stoneridge (NYSE:SRI) Shares Five Years Ago You'd Have Made 204%

One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … During five years of share price growth, Stoneridge achieved compound earnings per share (EPS) growth of 23% per year. … This EPS growth is reasonably close to the 25% average annual increase in the share price.

Simply Wall St -

Is Stoneridge, Inc.'s (NYSE:SRI) CEO Pay Justified?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Jon DeGaynor's Compensation Compare With Similar Sized Companies. … has a market capitalization of US$922m, and pays its CEO total annual compensation worth US$2.8m.

Simply Wall St -

Should You Be Tempted To Sell Stoneridge, Inc. (NYSE:SRI) Because Of Its P/E Ratio?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll show how you can use Stoneridge, Inc.'s (NYSE:SRI) P/E ratio to inform your assessment of the investment opportunity. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

What does Stoneridge, Inc.'s (NYSE:SRI) Balance Sheet Tell Us About Its Future?

(NYSE:SRI) with its market cap of US$730m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Assessing first and foremost the financial health is. … Here are few basic financial health checks you should consider before taking the plunge.

Simply Wall St -

SRI Company Info

Description

Stoneridge, Inc. designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. The company operates in three segments: Control Devices, Electronics, and PST. The Control Devices segment offers sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle. The Electronics segment provides electronic instrument clusters, electronic control units, and driver information systems, camera-based vision systems, monitors, and related products. Its products collect, store, and display vehicle information, such as speed, pressure, maintenance data, trip information, operator performance, temperature, distance traveled, and driver messages related to vehicle performance. This segment’s power distribution modules and systems regulate, coordinate, monitor, and direct the operation of the electrical system within a vehicle. The PST segment offers in-vehicle audio and video devices, electronic vehicle security alarms, convenience accessories, vehicle monitoring and tracking devices, and infotainment systems. It provides its products and systems to various original equipment manufacturers and tier 1 customers, as well as aftermarket distributors and mass merchandisers for use in various vehicle platforms in North America, South America, Europe, and internationally. Stoneridge, Inc. was founded in 1965 and is headquartered in Novi, Michigan.

Details
Name: Stoneridge, Inc.
SRI
Exchange: NYSE
Founded: 1965
$904,455,525
28,694,655
Website: http://www.stoneridge.com
Address: Stoneridge, Inc.
39675 MacKenzie Drive,
Suite 400,
Novi,
Michigan, 48377,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE SRI Common Shares New York Stock Exchange US USD 10. Oct 1997
DB 2GX Common Shares Deutsche Boerse AG DE EUR 10. Oct 1997
Number of employees
Current staff
Staff numbers
4,600
Stoneridge employees.
Industry
Auto Parts and Equipment
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 23:48
End of day share price update: 2019/07/18 00:00
Last estimates confirmation: 2019/06/21
Last earnings filing: 2019/05/01
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.