NasdaqGM:TPIC

Stock Analysis Report

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Executive Summary

TPI Composites, Inc. manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers. More Details


Snowflake Analysis

High growth potential with mediocre balance sheet.


Similar Companies

Share Price & News

How has TPI Composites's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TPIC's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0.7%

TPIC

-3.1%

US Electrical

-0.8%

US Market


1 Year Return

41.4%

TPIC

18.2%

US Electrical

13.8%

US Market

Return vs Industry: TPIC exceeded the US Electrical industry which returned 18.2% over the past year.

Return vs Market: TPIC exceeded the US Market which returned 13.8% over the past year.


Shareholder returns

TPICIndustryMarket
7 Day0.7%-3.1%-0.8%
30 Day-15.6%-5.1%-5.7%
90 Day13.5%16.4%8.6%
1 Year41.4%41.4%20.6%18.2%16.4%13.8%
3 Year18.0%18.0%34.1%26.3%36.9%27.8%
5 Yearn/a54.0%42.4%85.0%64.2%

Price Volatility Vs. Market

How volatile is TPI Composites's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is TPI Composites undervalued compared to its fair value and its price relative to the market?

11.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TPIC ($26.52) is trading below our estimate of fair value ($30)

Significantly Below Fair Value: TPIC is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: TPIC is unprofitable, so we can't compare its PE Ratio to the US Electrical industry average.

PE vs Market: TPIC is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate TPIC's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: TPIC is overvalued based on its PB Ratio (7.3x) compared to the US Electrical industry average (3x).


Next Steps

Future Growth

How is TPI Composites forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

105.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TPIC is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.2%).

Earnings vs Market: TPIC is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: TPIC's is expected to become profitable in the next 3 years.

Revenue vs Market: TPIC's revenue (11.6% per year) is forecast to grow faster than the US market (9.9% per year).

High Growth Revenue: TPIC's revenue (11.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TPIC's Return on Equity is forecast to be high in 3 years time (28.1%)


Next Steps

Past Performance

How has TPI Composites performed over the past 5 years?

-39.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TPIC is currently unprofitable.

Growing Profit Margin: TPIC is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: TPIC is unprofitable, and losses have increased over the past 5 years at a rate of 39.5% per year.

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

Earnings vs Industry: TPIC is unprofitable, making it difficult to compare its past year earnings growth to the Electrical industry (-22.8%).


Return on Equity

High ROE: TPIC has a negative Return on Equity (-55.9%), as it is currently unprofitable.


Next Steps

Financial Health

How is TPI Composites's financial position?


Financial Position Analysis

Short Term Liabilities: TPIC's short term assets ($498.9M) exceed its short term liabilities ($374.3M).

Long Term Liabilities: TPIC's short term assets ($498.9M) exceed its long term liabilities ($392.2M).


Debt to Equity History and Analysis

Debt Level: TPIC's debt to equity ratio (177.1%) is considered high.

Reducing Debt: TPIC had negative shareholder equity 5 years ago, but is now positive and has therefore improved.

Debt Coverage: TPIC's debt is not well covered by operating cash flow (13.8%).

Interest Coverage: TPIC is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

What is TPI Composites's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

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

High Dividend: Unable to evaluate TPIC'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 TPIC's dividends per share have been stable in the past.

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


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TPIC's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

1.3yrs

Average management tenure


CEO

Bill Siwek (57 yo)

0.33

Tenure

US$1,574,512

Compensation

Mr. William E. Siwek, also known as Bill, has been President at TPI Composites, Inc. since May 13, 2019 and Its Chief Executive Officer May 20, 2020. He served as the Chief Financial Officer at TPI Composi ...


CEO Compensation Analysis

Compensation vs Market: Bill's total compensation ($USD1.57M) is below average for companies of similar size in the US market ($USD3.05M).

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


Leadership Team

NamePositionTenureCompensationOwnership
William Siwek
President0.33yrUS$1.57m0.22%
$ 2.1m
Bryan Schumaker
Chief Financial Officer1.33yrsUS$1.54m0.0030%
$ 28.4k
Steven Fishbach
General Counsel & Secretary5.67yrsUS$745.76k0.032%
$ 301.3k
Ramesh Gopalakrishnan
Chief Operating Officer– Wind1.33yrsUS$945.44k0.021%
$ 193.9k
Adan Gossar
Chief Accounting Officer0.17yrno datano data
Christian Edin
Senior Director of Investor Relationsno datano datano data
Deane Ilukowicz
Senior Vice President of Global Human Resources & Social Responsibility2.83yrsno datano data
Thomas Castle
Senior Vice President of Operations - Strategic Markets.4.83yrsno data0%
$ 0
Lance Marram
Senior Vice President of Global Service0.92yrno datano data
Adrian Oprescu
SVP of Technology & Global Projectsno datano datano data
Tom Adams
Senior Vice President - Windno datano datano data
James Hilderhoff
Chief Commercial Officer0.083yrno datano data

1.3yrs

Average Tenure

49yo

Average Age

Experienced Management: TPIC's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
William Siwek
President0.33yrUS$1.57m0.22%
$ 2.1m
Paul Giovacchini
Lead Independent Director0.33yrUS$195.00k0.054%
$ 506.7k
Linda Hudson
Director0.083yrno datano data
Philip Deutch
Independent Director13.67yrsUS$155.00k0.040%
$ 374.1k
James Hughes
Independent Director4.92yrsUS$160.00k0.084%
$ 788.7k
Jack Henry
Independent Director12.67yrsUS$180.00k0.12%
$ 1.2m
Daniel Weiss
Independent Director11.67yrsUS$165.00k0.040%
$ 374.1k
Steven Lockard
Chairman0.33yrUS$2.53m0.98%
$ 9.2m
Jayshree Desai
Independent Director3yrsUS$160.00k0.037%
$ 349.4k
Tyrone Jordan
Director1.67yrsUS$263.61k0.016%
$ 149.3k
Bavan Holloway
Independent Directorno datano datano data

2.3yrs

Average Tenure

57yo

Average Age

Experienced Board: TPIC's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


Ownership

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


Insider Trading Volume

Insider Buying: TPIC insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

TPI Composites, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: TPI Composites, Inc.
  • Ticker: TPIC
  • Exchange: NasdaqGM
  • Founded: 1968
  • Industry: Heavy Electrical Equipment
  • Sector: Capital Goods
  • Market Cap: US$937.391m
  • Shares outstanding: 35.35m
  • Website: https://www.tpicomposites.com

Number of Employees


Location

  • TPI Composites, Inc.
  • Gainey Center II
  • Suite 100
  • Scottsdale
  • Arizona
  • 85253
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TPICNasdaqGM (Nasdaq Global Market)YesCommon SharesUSUSDJul 2016
GX6DB (Deutsche Boerse AG)YesCommon SharesDEEURJul 2016

Biography

TPI Composites, Inc. manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers. The company also provides composite solutions for ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/28 04:46
End of Day Share Price2020/09/25 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.