Stoneridge (NYSE:SRI) - Share price, News & Analysis

SRI fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	1/6
Past Performance	0/6
Financial Health	3/6
Dividends	0/6

SRI Stock Overview

Rewards

Revenue is forecast to grow 11.37% per year

Trading below our calculated fair Price-To-Sales ratio

Risk Analysis

Earnings have declined by 45.4% per year over past 5 years

Debt is not well covered by operating cash flow

Stoneridge Competitors

Holley

NYSE:HLLY

US$478.0m

Modine Manufacturing

NYSE:MOD

US$673.0m

Garrett Motion

NasdaqGS:GTX

US$366.1m

Standard Motor Products

NYSE:SMP

US$695.8m

Price History & Performance

Summary of all time highs, changes and price drops for Stoneridge
Historical stock prices
Current Share Price	US$16.95
52 Week High	US$23.46
52 Week Low	US$13.64
Beta	1.27
1 Month Change	-11.30%
3 Month Change	-2.47%
1 Year Change	-18.82%
3 Year Change	-43.74%
5 Year Change	-20.72%
Change since IPO	-15.25%

Shareholder Returns

	SRI	US Auto Components	US Market
7D	-3.6%	-4.2%	-2.5%
1Y	-18.8%	-40.6%	-23.2%

Return vs Industry: SRI exceeded the US Auto Components industry which returned -40.6% over the past year.

Return vs Market: SRI exceeded the US Market which returned -23.2% over the past year.

Price Volatility

Is SRI's price volatile compared to industry and market?
SRI volatility
SRI Average Weekly Movement	7.7%
Auto Components Industry Average Movement	7.4%
Market Average Movement	6.9%
10% most volatile stocks in US Market	15.6%
10% least volatile stocks in US Market	2.8%

Stable Share Price: SRI is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: SRI's weekly volatility (8%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1965	5,000	Jon DeGaynor	https://www.stoneridge.com

Stoneridge, Inc., together with its subsidiaries, designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets in North America, South America, Europe, and internationally. It operates in three segments: Control Devices, Electronics, and Stoneridge Brazil. The Control Devices segment offers sensors, switches, actuators, and connectors that monitor, measure, or activate specific functions within a vehicle.

Stoneridge Fundamentals Summary

How do Stoneridge's earnings and revenue compare to its market cap?
SRI fundamental statistics
Market Cap	US$463.18m
Earnings (TTM)	-US$31.54m
Revenue (TTM)	US$827.33m

0.6x

P/S Ratio

-14.7x

P/E Ratio

Is SRI overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
SRI income statement (TTM)
Revenue	US$827.33m
Cost of Revenue	US$668.74m
Gross Profit	US$158.58m
Other Expenses	US$190.12m
Earnings	-US$31.54m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	-1.15
Gross Margin	19.17%
Net Profit Margin	-3.81%
Debt/Equity Ratio	59.4%

How did SRI perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is SRI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SRI?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for SRI. This is calculated by dividing SRI's market cap by their current preferred multiple.
What is SRI's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	US$463.18m

SRI key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.7x
Enterprise Value/EBITDA	39.1x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does SRI's PS Ratio compare to its peers?

SRI PS Ratio vs Peers

The above table shows the PS ratio for SRI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PS	Estimated Growth	Market Cap
Peer Average	0.4x
HLLY Holley	0.7x	7.4%	US$478.0m
MOD Modine Manufacturing	0.3x	5.5%	US$673.0m
GTX Garrett Motion	0.1x	8.3%	US$366.1m
SMP Standard Motor Products	0.5x	2.5%	US$695.8m
SRI Stoneridge	0.6x	11.4%	US$463.2m

Price-To-Sales vs Peers: SRI is expensive based on its Price-To-Sales Ratio (0.6x) compared to the peer average (0.4x).

Price to Earnings Ratio vs Industry

How does SRI's PE Ratio compare vs other companies in the US Auto Components Industry?

Price-To-Sales vs Industry: SRI is expensive based on its Price-To-Sales Ratio (0.6x) compared to the US Auto Components industry average (0.5x)

Price to Sales Ratio vs Fair Ratio

What is SRI's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SRI PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.6x
Fair PS Ratio	0.7x

Price-To-Sales vs Fair Ratio: SRI is good value based on its Price-To-Sales Ratio (0.6x) compared to the estimated Fair Price-To-Sales Ratio (0.7x).

Share Price vs Fair Value

What is the Fair Price of SRI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate SRI's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate SRI's fair value for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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Future Growth

How is Stoneridge forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

11.4%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if SRI's forecast earnings growth is above the savings rate (1.9%).

Earnings vs Market: Insufficient data to determine if SRI's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if SRI's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: SRI's revenue (11.4% per year) is forecast to grow faster than the US market (7.7% per year).

High Growth Revenue: SRI's revenue (11.4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if SRI's Return on Equity is forecast to be high in 3 years time

Discover growth companies

Past Performance

How has Stoneridge performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-45.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SRI is currently unprofitable.

Growing Profit Margin: SRI is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: SRI is unprofitable, and losses have increased over the past 5 years at a rate of 45.4% per year.

Accelerating Growth: Unable to compare SRI's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: SRI is unprofitable, making it difficult to compare its past year earnings growth to the Auto Components industry (-17.5%).

Return on Equity

High ROE: SRI has a negative Return on Equity (-11.57%), as it is currently unprofitable.

Discover strong past performing companies

Financial Health

How is Stoneridge's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: SRI's short term assets ($395.8M) exceed its short term liabilities ($180.5M).

Long Term Liabilities: SRI's short term assets ($395.8M) exceed its long term liabilities ($185.4M).

Debt to Equity History and Analysis

Debt Level: SRI's net debt to equity ratio (44.3%) is considered high.

Reducing Debt: SRI's debt to equity ratio has reduced from 69.2% to 59.4% over the past 5 years.

Debt Coverage: SRI's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if SRI's interest payments on its debt are well covered by EBIT.

Balance Sheet

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Dividend

What is Stoneridge current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

Dividend Yield vs Market

Stoneridge Dividend Yield vs Market

How does Stoneridge dividend yield compare to the market?
Segment	Dividend Yield
Company (Stoneridge)	n/a
Market Bottom 25% (US)	1.7%
Market Top 25% (US)	4.7%
Industry Average (Auto Components)	2.8%
Analyst forecast in 3 Years (Stoneridge)	n/a

Notable Dividend: Unable to evaluate SRI's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate SRI's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if SRI's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SRI's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as SRI has not reported any payouts.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

3.7yrs

Average management tenure

CEO

Jon DeGaynor (55 yo)

7.33yrs

Tenure

US$3,605,813

Compensation

Mr. Jonathan B. DeGaynor, also known as Jon, serves as Member of Advisory Board at Embark Technology, Inc. (formerly known as Embark Trucks, Inc.) since September 2021. He has been the Chief Executive Offi...

CEO Compensation Analysis

Jon DeGaynor's Compensation vs Stoneridge Earnings

How has Jon DeGaynor's remuneration changed compared to Stoneridge's earnings?
Date	Total Comp.	Salary	Company Earnings
Jun 30 2022	n/a	n/a	-US$32m
Mar 31 2022	n/a	n/a	-US$4m
Dec 31 2021	US$4m	US$900k	US$3m
Sep 30 2021	n/a	n/a	US$13m
Jun 30 2021	n/a	n/a	US$30m
Mar 31 2021	n/a	n/a	-US$11m
Dec 31 2020	US$4m	US$842k	-US$8m
Sep 30 2020	n/a	n/a	-US$7m
Jun 30 2020	n/a	n/a	-US$7m
Mar 31 2020	n/a	n/a	US$54m
Dec 31 2019	US$3m	US$825k	US$60m
Sep 30 2019	n/a	n/a	US$68m
Jun 30 2019	n/a	n/a	US$75m
Mar 31 2019	n/a	n/a	US$50m
Dec 31 2018	US$3m	US$750k	US$54m
Sep 30 2018	n/a	n/a	US$61m
Jun 30 2018	n/a	n/a	US$55m
Mar 31 2018	n/a	n/a	US$49m
Dec 31 2017	US$3m	US$615k	US$45m
Sep 30 2017	n/a	n/a	US$75m
Jun 30 2017	n/a	n/a	US$77m
Mar 31 2017	n/a	n/a	US$79m
Dec 31 2016	US$2m	US$550k	US$77m
Sep 30 2016	n/a	n/a	US$35m
Jun 30 2016	n/a	n/a	US$32m
Mar 31 2016	n/a	n/a	US$28m
Dec 31 2015	US$2m	US$379k	US$23m

Compensation vs Market: Jon's total compensation ($USD3.61M) is about average for companies of similar size in the US market ($USD2.94M).

Compensation vs Earnings: Jon's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: SRI's management team is considered experienced (3.7 years average tenure).

Board Members

Experienced Board: SRI's board of directors are seasoned and experienced ( 13.7 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: SRI insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

NYSE:SRI Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
06 Sep 22	BuyUS$205,691	Paul Schlather	Individual	10,912	US$18.85
02 Sep 22	BuyUS$76,148	Paul Schlather	Individual	4,083	US$19.10
02 Sep 22	BuyUS$95	Paul Schlather	Individual	5	US$19.00
03 Mar 22	BuyUS$243,287	Jonathan DeGaynor	Individual	12,560	US$19.37
05 Nov 21	SellUS$85,670	Robert Hartman	Individual	3,880	US$22.08

Ownership Breakdown

What is the ownership structure of SRI?
Owner Type	Number of Shares	Ownership Percentage
Individual Insiders	1,259,952	4.4%
Hedge Funds	2,010,192	7.1%
Institutions	25,215,090	88.5%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 84.52% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
7.36%	Cooper Creek Partners Management LLC	2,010,192	$34.1m	-1.2%	4.64%
7.14%	Cooke & Bieler, L.P.	1,951,018	$33.1m	-0.47%	0.38%
6.98%	BlackRock, Inc.	1,907,310	$32.3m	-1.17%	no data
5.34%	Frontier Capital Management Co LLC	1,458,560	$24.7m	-0.74%	0.27%
5.11%	Dimensional Fund Advisors LP	1,396,822	$23.7m	4.37%	0.01%
5.02%	The Vanguard Group, Inc.	1,371,456	$23.2m	-2.22%	no data
4.95%	Pembroke Management Ltd.	1,353,372	$22.9m	-0.48%	2.28%
4.49%	Thrivent Investment Management, Inc.	1,227,215	$20.8m	20.2%	0.06%
4.43%	Ewing Morris & Co. Investment Partners	1,210,902	$20.5m	1.09%	25.45%
4.39%	Royce & Associates, LP	1,199,372	$20.3m	0.03%	0.21%
3.02%	ArrowMark Colorado Holdings, LLC	826,039	$14.0m	6.3%	0.18%
2.95%	Manulife Asset Management	805,966	$13.7m	-0.06%	0.01%
2.87%	Massachusetts Financial Services Company	783,658	$13.3m	2.61%	no data
2.46%	Granahan Investment Management, LLC	672,971	$11.4m	41.74%	0.4%
2.44%	Jackson National Asset Management, LLC	666,767	$11.3m	9.33%	0.24%
2.02%	State Street Global Advisors, Inc.	552,976	$9.4m	1.07%	no data
1.7%	Geode Capital Management, LLC	464,158	$7.9m	2.02%	no data
1.67%	Jeffrey Draime	456,841	$7.7m	0%	no data
1.65%	Kennedy Capital Management, Inc.	449,656	$7.6m	12.57%	0.24%
1.61%	Private Capital Management, LLC	440,204	$7.5m	-1.98%	1.25%
1.57%	Teachers Insurance and Annuity Association-College Retirement Equities Fund	428,763	$7.3m	7.51%	no data
1.49%	Charles Schwab Investment Management, Inc.	407,454	$6.9m	10.7%	no data
1.45%	BNY Mellon Asset Management	396,386	$6.7m	132.57%	no data
1.26%	Peregrine Capital Management, LLC	344,702	$5.8m	-1.4%	0.18%
1.15%	GAMCO Investors, Inc.	313,865	$5.3m	0%	0.03%

Ticker	Exchange	Primary Security	Security Type	Country	Currency	Listed on
SRI	NYSE (New York Stock Exchange)	Yes	Common Shares	US	USD	Oct 1997
2GX	DB (Deutsche Boerse AG)	Yes	Common Shares	DE	EUR	Oct 1997

Data	Last Updated (UTC time)
Company Analysis	2022/10/01 00:00
End of Day Share Price	2022/09/30 00:00
Earnings	2022/06/30
Annual Earnings	2021/12/31