Spirit AeroSystems Holdings
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Spirit AeroSystems Holdings, Inc. designs, manufactures, and supplies commercial aero structures in the United States and internationally. The last earnings update was 76 days ago. More info.
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SPR Share Price and Events
7 Day Returns
1 Year Returns
SPR Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Spirit AeroSystems Holdings (SPR) | -0.8% | -5.4% | -13.4% | -16.8% | 69.9% | 113.8% |
| US Aerospace & Defense | 1.5% | 5.5% | 8.9% | 6% | 45.4% | 73.2% |
| US Market | 0.8% | 4.3% | 2.8% | 4.8% | 37.9% | 43.5% |
1 Year Return vs Industry and Market
- SPR underperformed the Aerospace & Defense industry which returned 6% over the past year.
- SPR underperformed the Market in United States of America which returned 4.8% over the past year.
Value
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
Spirit AeroSystems Holdings
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Spirit AeroSystems Holdings.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 16 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 9% |
| 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.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Aerospace & Defense Unlevered Beta | Simply Wall St/ S&P Global | 0.88 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.88 (1 + (1- 21%) (29.91%)) |
1.059 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.06 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.059 * 5.96%) |
9.04% |
Discounted Cash Flow Calculation for NYSE:SPR using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Spirit AeroSystems Holdings 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.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 9.04%) |
|
|---|---|---|---|
| 2020 | 695.85 | Analyst x12 | 638.15 |
| 2021 | 772.33 | Analyst x6 | 649.56 |
| 2022 | 798.00 | Analyst x2 | 615.50 |
| 2023 | 938.50 | Analyst x2 | 663.85 |
| 2024 | 1,008.02 | Est @ 7.41% | 653.90 |
| 2025 | 1,068.55 | Est @ 6% | 635.69 |
| 2026 | 1,122.21 | Est @ 5.02% | 612.26 |
| 2027 | 1,170.86 | Est @ 4.33% | 585.83 |
| 2028 | 1,215.97 | Est @ 3.85% | 557.95 |
| 2029 | 1,258.73 | Est @ 3.52% | 529.68 |
| Present value of next 10 years cash flows | $6,142.38 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2029
× (1 + g) ÷ (Discount Rate – g)
= $1,258.73 × (1 + 2.73%) ÷ (9.04% – 2.73%) |
$20,488.01 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $20,488.01 ÷ (1 + 9.04%)10 |
$8,621.52 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $6,142.38 + $8,621.52 |
$14,763.89 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $14,763.89 / 103.45 |
$142.71 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $142.71 |
| Current discount | Discount to share price of
$74.28
= -1 x ($74.28 - $142.71) / $142.71 |
48% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Spirit AeroSystems Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Spirit AeroSystems Holdings's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Spirit AeroSystems Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Spirit AeroSystems Holdings's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-28) in USD | $6.18 |
| NYSE:SPR Share Price ** | NYSE (2019-07-15) in USD | $74.28 |
| United States of America Aerospace & Defense Industry PE Ratio | Median Figure of 38 Publicly-Listed Aerospace & Defense Companies | 22.84x |
| United States of America Market PE Ratio | Median Figure of 3,084 Publicly-Listed Companies | 18.01x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Spirit AeroSystems Holdings.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:SPR Share Price ÷ EPS (both in USD) = 74.28 ÷ 6.18 |
12.01x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Spirit AeroSystems Holdings is good value based on earnings compared to the US Aerospace & Defense industry average.
- Spirit AeroSystems Holdings is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Spirit AeroSystems Holdings's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 12.01x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts |
9.1%per year |
| United States of America Aerospace & Defense Industry PEG Ratio | Median Figure of 33 Publicly-Listed Aerospace & Defense Companies | 2.06x |
| United States of America Market PEG Ratio | Median Figure of 2,124 Publicly-Listed Companies | 1.59x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 12.01x ÷ 9.1% |
1.33x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Spirit AeroSystems Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Spirit AeroSystems Holdings's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-28) in USD | $12.59 |
| NYSE:SPR Share Price * | NYSE (2019-07-15) in USD | $74.28 |
| United States of America Aerospace & Defense Industry PB Ratio | Median Figure of 55 Publicly-Listed Aerospace & Defense Companies | 2.73x |
| United States of America Market PB Ratio | Median Figure of 5,240 Publicly-Listed Companies | 1.81x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:SPR Share Price ÷ Book Value per Share (both in USD) = 74.28 ÷ 12.59 |
5.9x |
* Primary Listing of Spirit AeroSystems Holdings.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Spirit AeroSystems Holdings is overvalued based on assets compared to the US Aerospace & Defense industry average.
Value checks
We assess Spirit AeroSystems Holdings's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Aerospace & Defense industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Aerospace & Defense industry average (and greater than 0)? (1 check) Spirit AeroSystems Holdings has a total score of 4/6, 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
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!
Earnings growth vs Low Risk Savings
- Spirit AeroSystems Holdings's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Spirit AeroSystems Holdings's earnings growth is positive but not above the United States of America market average.
- Spirit AeroSystems Holdings's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:SPR Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts | 9.1% |
| NYSE:SPR Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 16 Analysts | 5.5% |
| United States of America Aerospace & Defense Industry Earnings Growth Rate | Market Cap Weighted Average | 10.5% |
| United States of America Aerospace & Defense Industry Revenue Growth Rate | Market Cap Weighted Average | 5.5% |
| 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 | 7.5% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 16 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 9,754 | 1,239 | 1,004 | 2 |
| 2022-12-31 | 9,611 | 1,094 | 981 | 3 |
| 2021-12-31 | 8,640 | 1,059 | 842 | 9 |
| 2020-12-31 | 8,237 | 998 | 783 | 16 |
| 2019-12-31 | 7,921 | 848 | 717 | 15 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-28 | 7,454 | 846 | 654 |
| 2018-12-31 | 7,222 | 770 | 617 |
| 2018-09-27 | 7,101 | 517 | 562 |
| 2018-06-28 | 7,036 | 637 | 540 |
| 2018-03-29 | 7,025 | 629 | 338 |
| 2017-12-31 | 6,983 | 574 | 355 |
| 2017-09-28 | 6,838 | 767 | 340 |
| 2017-06-29 | 6,802 | 742 | 338 |
| 2017-03-30 | 6,805 | 735 | 440 |
| 2016-12-31 | 6,793 | 717 | 469 |
| 2016-09-29 | 6,832 | 895 | 499 |
| 2016-06-30 | 6,715 | 870 | 668 |
| 2016-03-31 | 6,583 | 960 | 778 |
*GAAP earnings excluding extraordinary items.
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 16 Analyst Estimates (S&P Global) | See Below |
All data from Spirit AeroSystems Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 11.73 | 11.85 | 11.61 | 2.00 |
| 2022-12-31 | 10.91 | 11.02 | 10.80 | 2.00 |
| 2021-12-31 | 8.78 | 10.00 | 6.78 | 7.00 |
| 2020-12-31 | 7.75 | 8.90 | 6.56 | 12.00 |
| 2019-12-31 | 6.84 | 7.32 | 6.33 | 12.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-03-28 | 6.18 |
| 2018-12-31 | 5.71 |
| 2018-09-27 | 5.09 |
| 2018-06-28 | 4.78 |
| 2018-03-29 | 2.94 |
| 2017-12-31 | 3.04 |
| 2017-09-28 | 2.87 |
| 2017-06-29 | 2.81 |
| 2017-03-30 | 3.57 |
| 2016-12-31 | 3.72 |
| 2016-09-29 | 3.83 |
| 2016-06-30 | 4.98 |
| 2016-03-31 | 5.70 |
*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.
- Spirit AeroSystems Holdings is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
Future performance checks
We assess Spirit AeroSystems Holdings's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Spirit AeroSystems Holdings 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.
Past Performance
How has Spirit AeroSystems Holdings 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
Past Earnings growth analysis
- Spirit AeroSystems Holdings has delivered over 20% year on year earnings growth in the past 5 years.
- Spirit AeroSystems Holdings's 1-year earnings growth exceeds its 5-year average (93.2% vs 24.8%)
- Spirit AeroSystems Holdings's earnings growth has exceeded the US Aerospace & Defense industry average in the past year (93.2% vs 31.1%).
Earnings and Revenue History
All data from Spirit AeroSystems Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-28 | 7,453.70 | 654.20 | 166.20 | 46.00 |
| 2018-12-31 | 7,222.00 | 616.50 | 159.70 | 42.50 |
| 2018-09-27 | 7,101.30 | 561.90 | 192.00 | 41.30 |
| 2018-06-28 | 7,035.80 | 540.30 | 205.30 | 40.00 |
| 2018-03-29 | 7,025.00 | 338.40 | 171.60 | 35.60 |
| 2017-12-31 | 6,983.00 | 354.70 | 167.50 | 31.20 |
| 2017-09-28 | 6,838.40 | 340.10 | 178.20 | 29.10 |
| 2017-06-29 | 6,801.60 | 338.00 | 208.20 | 25.00 |
| 2017-03-30 | 6,805.40 | 439.50 | 222.00 | 22.70 |
| 2016-12-31 | 6,792.90 | 469.40 | 231.60 | 23.80 |
| 2016-09-29 | 6,832.30 | 499.40 | 233.30 | 23.50 |
| 2016-06-30 | 6,714.50 | 667.70 | 235.60 | 24.60 |
| 2016-03-31 | 6,583.30 | 777.80 | 219.20 | 26.90 |
| 2015-12-31 | 6,643.90 | 788.00 | 220.80 | 27.80 |
| 2015-10-01 | 6,608.90 | 544.50 | 228.80 | 27.70 |
| 2015-07-02 | 6,708.30 | 398.70 | 224.30 | 29.90 |
| 2015-04-02 | 6,812.90 | 386.50 | 224.90 | 30.00 |
| 2014-12-31 | 6,799.20 | 357.20 | 233.80 | 29.30 |
| 2014-10-02 | 6,719.20 | -124.70 | 214.50 | 32.90 |
| 2014-07-03 | 6,529.90 | -199.50 | 217.30 | 31.70 |
| 2014-04-03 | 6,247.30 | -549.40 | 217.00 | 33.50 |
| 2013-12-31 | 5,961.00 | -621.40 | 200.80 | 34.70 |
| 2013-09-26 | 5,892.20 | 25.70 | 197.50 | 36.10 |
| 2013-06-27 | 5,753.80 | -199.20 | 185.30 | 35.90 |
| 2013-03-28 | 5,574.10 | 42.40 | 171.50 | 34.20 |
| 2012-12-31 | 5,397.70 | 34.40 | 172.20 | 34.10 |
| 2012-09-27 | 5,191.00 | 34.00 | 167.30 | 30.20 |
*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.
- Whilst Spirit AeroSystems Holdings made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.
- Spirit AeroSystems Holdings used its assets more efficiently than the US Aerospace & Defense industry average last year based on Return on Assets.
- Spirit AeroSystems Holdings has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Spirit AeroSystems Holdings's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Aerospace & Defense industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Spirit AeroSystems Holdings has a total score of 5/6, 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 Spirit AeroSystems Holdings'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 Spirit AeroSystems Holdings's finances.
The net worth of a company is the difference between its assets and liabilities.
- Spirit AeroSystems Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Spirit AeroSystems Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 1.5x 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.
All data from Spirit AeroSystems Holdings Company Filings, last reported 3 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-28 | 1,321.10 | 2,202.70 | 1,228.40 |
| 2018-12-31 | 1,238.10 | 1,853.00 | 773.60 |
| 2018-09-27 | 1,116.40 | 1,851.50 | 683.40 |
| 2018-06-28 | 954.70 | 1,944.80 | 593.00 |
| 2018-03-29 | 1,573.00 | 1,106.10 | 437.90 |
| 2017-12-31 | 1,801.50 | 1,112.20 | 423.30 |
| 2017-09-28 | 1,759.40 | 1,064.80 | 726.60 |
| 2017-06-29 | 1,811.80 | 1,070.60 | 696.90 |
| 2017-03-30 | 1,984.90 | 1,076.80 | 672.20 |
| 2016-12-31 | 1,928.80 | 1,076.90 | 697.70 |
| 2016-09-29 | 1,809.30 | 1,096.60 | 670.40 |
| 2016-06-30 | 1,999.00 | 1,189.80 | 800.50 |
| 2016-03-31 | 2,120.70 | 1,117.20 | 822.90 |
| 2015-12-31 | 2,120.00 | 1,111.10 | 957.30 |
| 2015-10-01 | 2,224.40 | 1,131.20 | 1,042.70 |
| 2015-07-02 | 1,961.00 | 1,143.50 | 958.70 |
| 2015-04-02 | 1,794.40 | 1,133.50 | 749.50 |
| 2014-12-31 | 1,622.00 | 1,140.60 | 377.90 |
| 2014-10-02 | 1,814.80 | 1,143.50 | 452.80 |
| 2014-07-03 | 1,662.10 | 1,145.60 | 381.60 |
| 2014-04-03 | 1,638.10 | 1,220.20 | 382.40 |
| 2013-12-31 | 1,481.00 | 1,153.40 | 420.70 |
| 2013-09-26 | 1,971.50 | 1,171.50 | 435.60 |
| 2013-06-27 | 1,868.70 | 1,172.70 | 317.00 |
| 2013-03-28 | 2,072.30 | 1,176.70 | 313.10 |
| 2012-12-31 | 1,996.90 | 1,180.20 | 440.70 |
| 2012-09-27 | 1,961.70 | 1,183.80 | 221.70 |
- Spirit AeroSystems Holdings's level of debt (170.1%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (75.6% vs 170.1% today).
- Debt is well covered by operating cash flow (37.6%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 18.5x coverage).
Financial health checks
We assess Spirit AeroSystems Holdings's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Spirit AeroSystems Holdings has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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 Spirit AeroSystems Holdings'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
If you bought
$2,000 of
Spirit AeroSystems Holdings
shares you are expected to receive
$13
in your first year as a dividend.
Dividend Amount
- Spirit AeroSystems Holdings's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.41%).
- Spirit AeroSystems Holdings's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).
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.
| 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 16 Analyst Estimates (S&P Global) | See Below |
| United States of America Aerospace & Defense Industry Average Dividend Yield | Market Cap Weighted Average of 22 Stocks | 1.8% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2018 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 | 3.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 0.61 | 1.00 |
| 2022-12-31 | 0.89 | 2.00 |
| 2021-12-31 | 0.65 | 6.00 |
| 2020-12-31 | 0.57 | 9.00 |
| 2019-12-31 | 0.51 | 9.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-01-23 | 0.480 | 0.557 |
| 2018-10-24 | 0.480 | 0.616 |
| 2018-07-23 | 0.480 | 0.548 |
| 2018-04-25 | 0.480 | 0.561 |
| 2018-01-24 | 0.400 | 0.459 |
| 2017-10-25 | 0.400 | 0.467 |
| 2017-07-25 | 0.400 | 0.543 |
| 2017-04-26 | 0.400 | 0.704 |
| 2017-01-27 | 0.400 | 0.688 |
| 2016-11-01 | 0.400 | 0.693 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Spirit AeroSystems Holdings is not paying a notable dividend for United States of America, therefore no need to check if the payments are stable.
- Spirit AeroSystems Holdings is not paying a notable dividend for United States of America, therefore no need to check if the payments are increasing.
Income/ dividend checks
We assess Spirit AeroSystems Holdings's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Spirit AeroSystems Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Spirit AeroSystems Holdings has a total score of 1/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | $9,899,693 |
| AGE | 55 |
| TENURE AS CEO | 2.9 years |
CEO Bio
Mr. Thomas C. Gentile, III, also known as Tom, has been the Chief Executive Officer and President at Spirit AeroSystems Holdings, Inc. since August 1, 2016 and served as its Chief Operating Officer and Executive Vice President from April 1, 2016 to July 31, 2016. Mr. Gentile serves as the Chief Executive Officer and President at Spirit AeroSystems, Inc. and served as its Chief Operating Officer and Executive Vice President since April 1, 2016 until July 18, 2016. Mr. Gentile held a succession of leadership roles at General Electric divisions over the last two decades. He served as the President and Chief Operating Officer of General Electric Capital Corporation since June 2014 until May 24, 2016. Mr. Gentile became a GECC Officer in 2000. He was appointed to GE’s Corporate Executive Council in 2011. He served as the Chief Executive Officer and President of Healthcare Systems Division at GE Healthcare Ltd. from May 11, 2011 to June 2014. From January 2008 to June 2011, he served as the President and Chief Executive Officer of GE Aviation’s Services division. He served as General Manager of Services and Vice President of GE Aviation for three years, an operating unit of General Electric Company since 2008. He is a 13-year GE veteran and spent three years leading a team that transformed GE's Aviation services business into a global $7 billion platform. He served as Senior Vice President of Global Marketing at Synchrony Bank from August 2006 to January 2008. He served as the Chief Executive Officer of General Electric Capital Corporation. He served as Senior Vice President of Global Marketing for GE Money Bank (GE Capital Retail Bank) (Stamford, CT) from August 2006 to January 2008. Mr. Gentile served as the Chief Executive Officer and President of GE Money Australia and New Zealand from June 2002 to September 2006, where he oversaw eight business units. He joined GE in 1997 from CBS Corporation, where he served as a Senior Vice President of Strategy. He joined GE Global Consumer Finance in 1998 as Senior Vice President of Strategy. He was named a General Electric Company (“GE”) Vice President and Company Officer in 2005 and a Senior Vice President in 2011. He became the Six Sigma Quality Leader in September 1998. He held leadership and strategy roles with McKinsey & Company, American broadcaster CBS and General Motors. He served as the President and Chief Executive Officer of GE Money-France (Global Consumer Finance) since 2000. He served as the Chief Marketing Officer of GE Money From September 2006 to December 2007, where he was responsible for driving organic growth and building brand awareness for GE Money's businesses across 53 countries representing $200 billion in assets. He began his career at General Motors in 1986 as a Trade Analyst in Motors Trading Corporation based in Detroit. In 1990, Mr. Gentile joined the Cleveland Office of McKinsey & Company with a primary focus on strategy, operations and the automotive industry, where he spent one year in the London Office and served automotive clients in the UK, Germany and Switzerland. He serves as the Chairman of the Board at Intel-GE Care Innovations, LLC. He served as the Chairman of InSightec Ltd. from December 2012 to December 15, 2014 and has been its Director since December 2012. He has been a Director of Spirit AeroSystems Holdings, Inc. since July 25, 2016. He serves as a Member of the Asia Pacific Board of Directors of MasterCard International and is a Senior Fellow in the Australian Banking and Finance Institute and a member of GE's Commercial Council. He was elected to the GECC Board of Directors in 2014. He served as a Director of Synchrony Financial from May 21, 2015 to December 9, 2015. He serves as an Active Leader in global GE’s Volunteers Network. He was very active with the non-profit organization Cincinnati ArtsWave and looks forward to bringing his passion for corporate citizenship to the Milwaukee area community. He returned to Harvard in 1988 and earned his MBA from the Harvard Business School in 1990. Mr. Gentile attended Harvard University, where he graduated magna cum laude with a BA degree in Economics in 1986. He also spent a year at the London School of Economics where he earned a General Course Degree in International Relations.
CEO Compensation
- Tom's compensation has been consistent with company performance over the past year, both up more than 20%.
- Tom's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Spirit AeroSystems Holdings management team in years:
- The average tenure for the Spirit AeroSystems Holdings management team is less than 2 years, this suggests a new team.
Management Team
Tom Gentile
President
$10M
55
2.9 yrs
John Pilla
Senior VP and Chief Technology & Quality Officer
$2M
59
1.8 yrs
Duane Hawkins
Senior VP and President of Defense & Fabrication
$2M
60
1.8 yrs
Jose Garcia
Senior VP & CFO
46
0.5 yrs
Ron Rabe
Senior VP of Operations & Chief Procurement Officer
53
0.8 yrs
John Gilson
Principal Accounting Officer
47
1.4 yrs
Kailash Krishnaswamy
Head of Investor Relations
Stacy Cozad
Senior VP
48
1.8 yrs
Jim Reed
Chief Purchasing Officer & VP of Global Supply Chain
65
Bill Brown
Senior Vice President of Boeing Programs - Spirit AeroSystems
56
1.8 yrs
Board of Directors Tenure
Average tenure and age of the Spirit AeroSystems Holdings board of directors in years:
- The tenure for the Spirit AeroSystems Holdings board of directors is about average.
Board of Directors
Robert Johnson
Chairman of the Board
72
Tom Gentile
President
$10M
55
3.5 yrs
Ronald Kadish
Independent Director
$249K
71
12.7 yrs
Paul Fulchino
Independent Director
$262K
73
12.7 yrs
Charles Chadwell
Independent Director
$250K
78
11.3 yrs
Irene Esteves
Independent Director
$271K
60
4.2 yrs
Dick Gephardt
Director
$509K
78
12.7 yrs
John Plueger
Independent Director
$245K
65
5 yrs
Laura Wright
Director
$240K
59
1.4 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 19. Feb 19 | Sell | Ronald Kadish | Individual | 14. Feb 19 | 14. Feb 19 | -10,954 | $93.25 | $-1,021,461 | ||
| 19. Feb 19 | Sell | Paul Fulchino | Individual | 15. Feb 19 | 15. Feb 19 | -20,000 | $95.33 | $-1,906,600 | ||
| 12. Feb 19 | Sell | Paul Fulchino | Individual | 08. Feb 19 | 08. Feb 19 | -15,000 | $93.17 | $-1,389,630 | ||
| 08. Feb 19 | Sell | Ron Rabe | Individual | 08. Feb 19 | 08. Feb 19 | -2,200 | $93.44 | $-205,568 | ||
| 08. Feb 19 | Sell | Paul Fulchino | Individual | 06. Feb 19 | 06. Feb 19 | -15,000 | $92.49 | $-1,387,350 | ||
| 08. Feb 19 | Sell | Stacy Cozad | Individual | 08. Feb 19 | 08. Feb 19 | -3,200 | $93.39 | $-298,848 | ||
| 16. Nov 18 | Sell | John Pilla | Individual | 15. Nov 18 | 15. Nov 18 | -9,642 | $84.01 | $-810,024 | ||
| 22. Aug 18 | Sell | Charles Chadwell | Individual | 20. Aug 18 | 20. Aug 18 | -11,500 | $87.33 | $-1,004,295 | ||
| 17. Aug 18 | Sell | Krisstie Kondrotis | Individual | 15. Aug 18 | 15. Aug 18 | -13,363 | $84.10 | $-1,123,802 | ||
| 17. Aug 18 | Sell | Duane Hawkins | Individual | 16. Aug 18 | 16. Aug 18 | -3,500 | $85.50 | $-299,250 | ||
| 14. Aug 18 | Sell | Michelle Lohmeier | Individual | 10. Aug 18 | 10. Aug 18 | -3,420 | $87.30 | $-298,566 | ||
Management checks
We assess Spirit AeroSystems Holdings's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Spirit AeroSystems Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
Are Investors Undervaluing Spirit AeroSystems Holdings, Inc. (NYSE:SPR) By 47%?
Today, we will estimate the stock's intrinsic value by taking the expected future cash flows and discounting them to their present value. … Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) estimate 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Levered FCF ($, Millions) $699.4m $783.7m $798.0m $938.5m $1.0b $1.1b $1.1b $1.2b $1.2b $1.3b Growth Rate Estimate Source Analyst x12 Analyst x6 Analyst x2 Analyst x2 Est @ 7.19% Est @ 5.85% Est @ 4.91% Est @ 4.26% Est @ 3.8% Est @ 3.48% Present Value ($, Millions) Discounted @ 9.03% $641.5 $659.3 $615.8 $664.2 $653.0 $634.0 $610.0 $583.4 $555.4 $527.1 ("Est" = FCF growth rate estimated by Simply Wall St) Present Value of 10-year Cash Flow (PVCF)= $6.1b After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … NYSE:SPR Intrinsic value, July 15th 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 - – Full articleDoes Spirit AeroSystems Holdings, Inc.'s (NYSE:SPR) CEO Pay Compare Well With Peers?
This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … Check out our latest analysis for Spirit AeroSystems Holdings How Does Tom Gentile's Compensation Compare With Similar Sized Companies? … When we examined a selection of companies with market caps ranging from US$4.0b to US$12b, we found the median CEO total compensation was US$6.9m.
Simply Wall St - – Full articleShould You Be Holding Spirit AeroSystems Holdings, Inc. (NYSE:SPR)?
By this I mean, I look at stocks holistically, from their financial health to their future outlook. … NYSE:SPR Income Statement, June 14th 2019 Next Steps: For Spirit AeroSystems Holdings, I've put together three key factors you should look at: Future Outlook: What are well-informed industry analysts predicting for SPR’s future growth? … Take a look at our free research report of analyst consensus for SPR’s outlook.
Simply Wall St - – Full articleShould You Investigate Spirit AeroSystems Holdings, Inc. (NYSE:SPR) At US$81.04?
A question to answer is whether Spirit AeroSystems Holdings's current trading price of $81.04 reflective of the actual value of the mid-cap? … Let’s take a look at Spirit AeroSystems Holdings’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … However, given that Spirit AeroSystems Holdings’s share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us another chance to buy in the future.
Simply Wall St - – Full articleIs Spirit AeroSystems Holdings, Inc.'s (NYSE:SPR) P/E Ratio Really That Good?
We'll show how you can use Spirit AeroSystems Holdings, Inc.'s (NYSE:SPR) P/E ratio to inform your assessment of the investment opportunity. … Check out our latest analysis for Spirit AeroSystems Holdings How Do I Calculate A Price To Earnings Ratio? … The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Spirit AeroSystems Holdings: P/E of 13.15 = $81.33 ÷ $6.18 (Based on the trailing twelve months to March 2019.) Is A High Price-to-Earnings Ratio Good?
Simply Wall St - – Full articleWill Spirit AeroSystems Holdings, Inc.'s (NYSE:SPR) Earnings Grow In The Next 12 Months?
Based on Spirit AeroSystems Holdings, Inc.'s (NYSE:SPR) earnings update on 28 March 2019, it seems that analyst expectations are fairly bearish, with earnings expected to grow by 14% in the upcoming year compared with the higher past 5-year average growth rate of 25%. … To understand the overall trajectory of SPR's earnings growth over these next fews years, I've fitted a line through these analyst earnings forecast to determine an annual growth rate from the slope. … NYSE:SPR Past and Future Earnings, May 13th 2019 From the current net income level of US$617m and the final forecast of US$851m by 2022, the annual rate of growth for SPR’s earnings is 9.1%.
Simply Wall St - – Full articleShareholders Are Thrilled That The Spirit AeroSystems Holdings (NYSE:SPR) Share Price Increased 164%
During the five years of share price growth, Spirit AeroSystems Holdings moved from a loss to profitability. … Given that the company made a profit three years ago, but not five years ago, it is worth looking at the share price returns over the last three years, too. … We can see that the Spirit AeroSystems Holdings share price is up 87% in the last three years.
Simply Wall St - – Full articleSpirit AeroSystems Holdings, Inc. (NYSE:SPR) Earns A Nice Return On Capital Employed
Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … What is Return On Capital Employed (ROCE)? … How Do You Calculate Return On Capital Employed
Simply Wall St - – Full articleShould You Be Excited About Spirit AeroSystems Holdings, Inc.'s (NYSE:SPR) 50% Return On Equity?
By way of learning-by-doing, we'll look at ROE to gain a better understanding of Spirit AeroSystems Holdings, Inc. … Over the last twelve months Spirit AeroSystems Holdings has recorded a ROE of 50%. … That means that for every $1 worth of shareholders' equity, it generated $0.50 in profit.
Simply Wall St - – Full articleNeed To Know: Spirit AeroSystems Holdings, Inc. (NYSE:SPR) Insiders Have Been Selling Shares
So we'll take a look at whether insiders have been buying or selling shares in Spirit AeroSystems Holdings, Inc. … Spirit AeroSystems Holdings Insider Transactions Over The Last Year. … Over the last year we saw more insider selling of Spirit AeroSystems Holdings shares, than buying
Simply Wall St - – Full articleCompany Info
Description
Spirit AeroSystems Holdings, Inc. designs, manufactures, and supplies commercial aero structures in the United States and internationally. The company operates in three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems primarily to aircraft original equipment manufacturers (OEMs); and related spares, as well as maintenance, repairs, and overhaul (MRO) services. The Propulsion Systems segment offers struts/pylons; nacelles, including thrust reversers; and related engine structural components primarily to aircraft or engine OEMs, as well as related spares and MRO services. The Wing Systems provides wings and wing components, such as flight control surfaces; and other miscellaneous structural parts primarily to aircraft OEMs, as well as related spares and MRO services. Spirit AeroSystems Holdings, Inc. also offers low observables comprising radar absorbent and translucent materials; rotorcrafts that include forward cockpits and cabins; and other military services, such as fabrication, bonding, assembly, testing, tooling, processing, engineering analysis, and training. The company was formerly known as Mid-Western Aircraft Systems Holdings, Inc. Spirit AeroSystems Holdings, Inc. was founded in 1927 and is headquartered in Wichita, Kansas.
Details
| Name: | Spirit AeroSystems Holdings, Inc. |
| SPR | |
| Exchange: | NYSE |
| Founded: | 1927 |
| $7,684,331,143 | |
| 103,450,877 | |
| Website: | http://www.spiritaero.com |
| Address: |
Spirit AeroSystems Holdings, Inc. 3801 South Oliver, Wichita, Kansas, 67210, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | SPR | Class A Common Stock | New York Stock Exchange | US | USD | 21. Nov 2006 | |
| DB | S9Q | Class A Common Stock | Deutsche Boerse AG | DE | EUR | 21. Nov 2006 |
Number of employees
Current staff
Industry
| Aerospace and Defense | |
| Capital Goods |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/07/16 00:15 |
| End of day share price update: | 2019/07/15 00:00 |
| Last estimates confirmation: | 2019/07/15 |
| Last earnings filing: | 2019/05/01 |
| Last earnings reported: | 2019/03/28 |
| 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.
