NasdaqGM:TPIC

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

High growth potential with mediocre balance sheet.

Risks

  • TPI Composites has significant price volatility in the past 3 months.

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


Market Performance


7 Day Return

4.0%

NasdaqGM:TPIC

4.7%

US Electrical

1.3%

US Market


1 Year Return

-33.2%

NasdaqGM:TPIC

-7.7%

US Electrical

2.0%

US Market

TPIC underperformed the Electrical industry which returned -8.2% over the past year.

TPIC underperformed the Market in United States of America which returned 1.7% over the past year.


Share holder returns

TPICIndustryMarket
7 Day4.0%4.7%1.3%
30 Day3.5%11.3%3.9%
90 Day-24.8%6.0%3.4%
1 Year-33.2%-33.2%-5.7%-7.7%4.2%2.0%
3 Year-11.7%-11.7%43.4%35.0%47.2%37.6%
5 Yearn/a32.8%19.4%60.5%42.9%

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 based on future cash flows and its price relative to the stock market?

33%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

TPI Composites's share price is below the future cash flow value, and at a moderate discount (> 20%).

TPI Composites's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

TPI Composites is loss making, we can't compare its value to the US Electrical industry average.

TPI Composites is loss making, we can't compare the value of its earnings to the United States of America market.


Price Based on Expected Growth

Unable to calculate PEG ratio for TPI Composites, we can't assess if its growth is good value.


Price Based on Value of Assets

TPI Composites is overvalued based on assets compared to the US Electrical industry average.


Next Steps

Future Growth

How is TPI Composites expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

79.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

TPI Composites's revenue is expected to grow by 16.3% yearly, however this is not considered high growth (20% yearly).

TPI Composites's earnings are expected to grow significantly at over 20% yearly.

TPI Composites's revenue growth is expected to exceed the United States of America market average.

TPI Composites's earnings growth is expected to exceed the United States of America market average.

TPI Composites's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

TPI Composites is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).


Next Steps

Past Performance

How has TPI Composites performed over the past 5 years?

33.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

TPI Composites does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.

Unable to compare TPI Composites's 1-year earnings growth to the 5-year average as it is not currently profitable.

Unable to compare TPI Composites's 1-year growth to the US Electrical industry average as it is not currently profitable.


Return on Equity

It is difficult to establish if TPI Composites has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.


Return on Assets

It is difficult to establish if TPI Composites has efficiently used its assets last year compared to the US Electrical industry average (Return on Assets) as it is loss-making.


Return on Capital Employed

It is difficult to establish if TPI Composites improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.


Next Steps

Financial Health

How is TPI Composites's financial position?


Financial Position Analysis

TPI Composites is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

TPI Composites's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

TPI Composites's level of debt (61.8%) compared to net worth is high (greater than 40%).

TPI Composites had negative shareholder equity 5 years ago, it is now positive therefore their debt level has improved.

Operating cash flow is negative therefore debt is not well covered.

TPI Composites is making a loss, therefore interest payments are not well covered by earnings.


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 3.3x debt.


Next Steps

Dividend

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


Dividend Yield and Payments Analysis

Unable to evaluate TPI Composites's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate TPI Composites's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as TPI Composites has not reported any payouts.

Unable to verify if TPI Composites's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as TPI Composites has not reported any payouts.


Future Payout to Shareholders

No need to calculate the sustainability of TPI Composites's dividends in 3 years as they are not expected to pay a notable one for United States of America.


Next Steps

Management

What is the CEO of TPI Composites's salary, the management and board of directors tenure and is there insider trading?

1.9yrs

Average management tenure


CEO

Steve Lockard (57yo)

15.7yrs

Tenure

US$3,186,901

Compensation

Mr. Steven C. Lockard, also known as Steve, has been Chief Executive Officer of TPI Composites, Inc. since 2004 and served as President since 2004. Mr. Lockard serves as Chief Executive Officer and Presid ...


CEO Compensation Analysis

Steve's remuneration is about average for companies of similar size in United States of America.

Steve's compensation has increased whilst company is loss making.


Management Age and Tenure

1.9yrs

Average Tenure

51yo

Average Age

The average tenure for the TPI Composites management team is less than 2 years, this suggests a new team.


Board Age and Tenure

10.7yrs

Average Tenure

56yo

Average Age

The average tenure for the TPI Composites board of directors is over 10 years, this suggests they are a seasoned and experienced board.


Insider Trading

More shares have been bought than sold by TPI Composites individual insiders in the past 3 months.


Recent Insider Transactions

BuyUS$50,05226 Aug 19
William Siwek
EntityIndividual
Role
President
President
Shares2,823
Max PriceUS$17.73
BuyUS$19,68814 Aug 19
Bryan Schumaker
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares1,070
Max PriceUS$18.40
BuyUS$112,75012 Jun 19
Paul Giovacchini
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares5,000
Max PriceUS$22.55
SellUS$34,38811 Jun 19
Thomas Castle
EntityIndividual
Role
Senior Key Executive
Senior Vice President of North American Wind Operations & Global Operations Excellence
Shares1,527
Max PriceUS$22.52
BuyUS$19,82705 Jun 19
William Siwek
EntityIndividual
Role
President
President
Shares900
Max PriceUS$22.03
BuyUS$107,35003 Jun 19
Steven Lockard
EntityIndividual
Role
Chief Executive Officer
CEO & Director
Shares5,000
Max PriceUS$21.47
BuyUS$10,95530 May 19
Jack Henry
EntityIndividual
Role
Member of the Board of Directors
Director
Shares500
Max PriceUS$21.91
BuyUS$45,46020 May 19
James Hughes
EntityIndividual
Role
Member of the Board of Directors
Director
Shares2,000
Max PriceUS$22.73
BuyUS$91,40020 May 19
Stephen Bransfield
EntityIndividual
Role
Member of the Board of Directors
Director
Shares4,000
Max PriceUS$22.85
SellUS$620,70015 Mar 19
Angeleno Group, LLC
EntityCompany
Shares20,000
Max PriceUS$31.06
SellUS$29,52206 Mar 19
Thomas Castle
EntityIndividual
Role
Senior Key Executive
Senior Vice President of North American Wind Operations & Global Operations Excellence
Shares1,018
Max PriceUS$29.00
SellUS$15,58030 Jan 19
Element Management LP
EntityCompany
Shares538
Max PriceUS$28.96
SellUS$2926 Jan 19
Element Management LP
EntityCompany
Shares1
Max PriceUS$28.53
SellUS$24,19723 Jan 19
Element Management LP
EntityCompany
Shares841
Max PriceUS$28.96
SellUS$20,18121 Dec 18
Element Management LP
EntityCompany
Shares843
Max PriceUS$24.09
SellUS$1,323,17814 Dec 18
Angeleno Group, LLC
EntityCompany
Shares50,493
Max PriceUS$26.28
SellUS$21,75412 Dec 18
Element Management LP
EntityCompany
Shares830
Max PriceUS$26.82
SellUS$1,006,56207 Dec 18
Element Management LP
EntityCompany
Shares37,741
Max PriceUS$27.50
SellUS$40,74403 Dec 18
Element Management LP
EntityCompany
Shares1,500
Max PriceUS$27.53
SellUS$33,86528 Nov 18
Element Management LP
EntityCompany
Shares1,296
Max PriceUS$26.82
SellUS$43,20720 Nov 18
Element Management LP
EntityCompany
Shares1,772
Max PriceUS$24.63
SellUS$1,427,65814 Nov 18
Element Management LP
EntityCompany
Shares60,326
Max PriceUS$25.20
SellUS$2,57014 Nov 18
Element Management LP
EntityCompany
Shares102
Max PriceUS$25.20
SellUS$1,491,72712 Oct 18
Element Management LP
EntityCompany
Shares59,400
Max PriceUS$25.62
SellUS$1,624,91509 Oct 18
Element Management LP
EntityCompany
Shares62,392
Max PriceUS$28.10
SellUS$46,15819 Sep 18
Element Management LP
EntityCompany
Shares1,675
Max PriceUS$27.71

Ownership Breakdown


Management Team

  • Bill Siwek (56yo)

    President

    • Tenure: 0.3yrs
    • Compensation: US$1.64m
  • Steve Lockard (57yo)

    CEO & Director

    • Tenure: 15.7yrs
    • Compensation: US$3.19m
  • Bryan Schumaker (43yo)

    Chief Financial Officer

    • Tenure: 0.3yrs
  • Joe Kishkill (54yo)

    Chief Commercial Officer

    • Tenure: 2.1yrs
    • Compensation: US$1.83m
  • Thomas Castle (47yo)

    Senior Vice President of North American Wind Operations & Global Operations Excellence

    • Tenure: 3.8yrs
  • Deane Ilukowicz

    Senior Vice President of Global Human Resources & Social Responsibility

    • Tenure: 1.8yrs
  • Steve Fishbach (49yo)

    General Counsel & Secretary

    • Tenure: 4.7yrs
    • Compensation: US$861.99k
  • Ramesh Gopalakrishnan (51yo)

    Chief Operating Officer– Wind

    • Tenure: 0.3yrs
  • Joe Kerkhove

    Senior Vice President of Strategic Markets

    • Tenure: 1.9yrs
  • Christian Edin

    Senior Director of Investor Relations

    • Tenure: 0yrs

Board Members

  • Paul Giovacchini (62yo)

    Chairman of the Board

    • Tenure: 13.7yrs
    • Compensation: US$194.99k
  • Michael DeRosa (47yo)

    Director

    • Tenure: 10.7yrs
    • Compensation: US$157.49k
  • Phil Deutch (54yo)

    Director

    • Tenure: 12.7yrs
    • Compensation: US$162.49k
  • Jim Hughes (56yo)

    Director

    • Tenure: 3.9yrs
    • Compensation: US$159.99k
  • Jack Henry (75yo)

    Director

    • Tenure: 11.7yrs
    • Compensation: US$179.99k
  • Daniel Weiss (51yo)

    Director

    • Tenure: 10.7yrs
    • Compensation: US$164.99k
  • Steve Lockard (57yo)

    CEO & Director

    • Tenure: 15.7yrs
    • Compensation: US$3.19m
  • Jayshree Desai (47yo)

    Independent Director

    • Tenure: 2yrs
    • Compensation: US$159.99k
  • Steve Bransfield (74yo)

    Director

    • Tenure: 9.1yrs
    • Compensation: US$162.49k
  • TJ Jordan (56yo)

    Director

    • Tenure: 0.7yrs

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$643.664m
  • Shares outstanding: 35.15m
  • 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 Analysis2019/09/16 00:28
End of Day Share Price2019/09/13 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.