Market Cap
US$504.1m
Last Updated
2020/03/28 01:26 UTC
Data Sources
Company Financials +
Executive Summary
SP Plus Corporation provides parking management, ground transportation, baggage, and other ancillary services in North America.
Rewards
Risk Analysis
Snowflake Analysis
Very undervalued with mediocre balance sheet.
Similar Companies
Share Price & News
How has SP Plus's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SP's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
17.8%
SP
4.3%
US Commercial Services
10.5%
US Market
1 Year Return
-35.8%
SP
-15.3%
US Commercial Services
-11.5%
US Market
Return vs Industry: SP underperformed the US Commercial Services industry which returned -15.3% over the past year.
Return vs Market: SP underperformed the US Market which returned -11.5% over the past year.
Shareholder returns
| SP | Industry | Market | |
|---|---|---|---|
| 7 Day | 17.8% | 4.3% | 10.5% |
| 30 Day | -39.0% | -22.1% | -15.4% |
| 90 Day | -48.7% | -24.0% | -21.4% |
| 1 Year | -35.8%-35.8% | -12.4%-15.3% | -9.6%-11.5% |
| 3 Year | -35.1%-35.1% | 14.9%7.6% | 12.6%5.4% |
| 5 Year | -0.9%-0.9% | 40.9%26.0% | 32.8%18.1% |
Price Volatility Vs. Market
How volatile is SP Plus's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 day ago | Simply Wall St
A Sliding Share Price Has Us Looking At SP Plus Corporation's (NASDAQ:SP) P/E Ratio4 days ago | Simply Wall St
Here's Why SP Plus (NASDAQ:SP) Has A Meaningful Debt Burden2 weeks ago | Simply Wall St
How Does SP Plus's (NASDAQ:SP) P/E Compare To Its Industry, After The Share Price Drop?Valuation
Is SP Plus undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SP ($21.92) is trading below our estimate of fair value ($44.84)
Significantly Below Fair Value: SP is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SP is good value based on its PE Ratio (9.9x) compared to the Commercial Services industry average (21x).
PE vs Market: SP is good value based on its PE Ratio (9.9x) compared to the US market (13x).
Price to Earnings Growth Ratio
PEG Ratio: SP is good value based on its PEG Ratio (0.9x)
Price to Book Ratio
PB vs Industry: SP is good value based on its PB Ratio (1.3x) compared to the US Commercial Services industry average (1.3x).
Next Steps
Future Growth
How is SP Plus forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
11.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SP's forecast earnings growth (11.1% per year) is above the savings rate (1.7%).
Earnings vs Market: SP's earnings (11.1% per year) are forecast to grow slower than the US market (12.3% per year).
High Growth Earnings: SP's earnings are forecast to grow, but not significantly.
Revenue vs Market: SP's revenue (3.6% per year) is forecast to grow slower than the US market (7.3% per year).
High Growth Revenue: SP's revenue (3.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: SP's Return on Equity is forecast to be low in 3 years time (18.1%).
Next Steps
Past Performance
How has SP Plus performed over the past 5 years?
23.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SP has high quality earnings.
Growing Profit Margin: SP's current net profit margins (5.2%) are lower than last year (6.9%).
Past Earnings Growth Analysis
Earnings Trend: SP's earnings have grown significantly by 23.5% per year over the past 5 years.
Accelerating Growth: SP's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: SP had negative earnings growth (-8.3%) over the past year, making it difficult to compare to the Commercial Services industry average (2.5%).
Return on Equity
High ROE: SP's Return on Equity (13.8%) is considered low.
Next Steps
Financial Health
How is SP Plus's financial position?
Financial Position Analysis
Short Term Liabilities: SP's short term assets ($211.1M) do not cover its short term liabilities ($369.8M).
Long Term Liabilities: SP's short term assets ($211.1M) do not cover its long term liabilities ($735.9M).
Debt to Equity History and Analysis
Debt Level: SP's debt to equity ratio (93.8%) is considered high.
Reducing Debt: SP's debt to equity ratio has reduced from 109.2% to 93.8% over the past 5 years.
Debt Coverage: SP's debt is well covered by operating cash flow (21.7%).
Interest Coverage: SP's interest payments on its debt are well covered by EBIT (4.9x coverage).
Balance Sheet
Inventory Level: SP has a high level of physical assets or inventory.
Debt Coverage by Assets: SP's debt is not covered by short term assets (assets are 0.6x debt).
Next Steps
Dividend
What is SP Plus's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate SP's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate SP's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if SP's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if SP'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 SP'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?
3.2yrs
Average management tenure
CEO
G. Baumann (63yo)
5.17s
Tenure
US$3,034,934
Compensation
Mr. G. Marc Baumann has been the Chief Executive Officer of SP Plus Corporation since January 1, 2015 and has been its President since March 2014. Mr. Baumann served as Chief Financial Officer and Treasure ...
CEO Compensation Analysis
Compensation vs Market: G.'s total compensation ($USD3.03M) is above average for companies of similar size in the US market ($USD2.14M).
Compensation vs Earnings: G.'s compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, President & Director | 5.17yrs | US$3.03m | 0.22% $1.1m | |
| CFO, Treasurer & Principal Accounting Officer | 0.92yr | US$818.83k | 0.0071% $35.7k | |
| President of Airport Division | 17.25yrs | US$956.61k | 0.094% $471.5k | |
| President of Commercial Division | 7.42yrs | US$1.20m | 0.087% $437.7k | |
| Consultant | 0.50yr | US$714.72k | 0.13% $640.2k | |
| Chief Administrative Officer | 5.17yrs | US$948.42k | 0.068% $342.8k | |
| Chief Legal Officer & Secretary | 0.50yr | no data | 0.0045% $22.5k | |
| Senior Communications Manager | no data | no data | no data | |
| Senior Vice President of Corporate Development | 1.17yrs | no data | no data | |
| Senior Vice President of Municipal & Institutional Services | no data | no data | no data |
3.2yrs
Average Tenure
62.5yo
Average Age
Experienced Management: SP's management team is considered experienced (3.2 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, President & Director | 5.17yrs | US$3.03m | 0.22% $1.1m | |
| Independent Chairman of the Board | 3.17yrs | US$238.50k | 0.27% $1.4m | |
| Independent Director | 2.83yrs | US$162.49k | 0.034% $173.3k | |
| Independent Director | 2yrs | US$174.99k | 0.021% $107.4k | |
| Independent Director | 4.92yrs | US$163.97k | 0.068% $340.3k | |
| Independent Director | 4.92yrs | US$167.49k | 0.068% $340.3k |
4.0yrs
Average Tenure
64.5yo
Average Age
Experienced Board: SP's board of directors are considered experienced (4 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold 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
SP Plus Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: SP Plus Corporation
- Ticker: SP
- Exchange: NasdaqGS
- Founded: 1929
- Industry: Environmental and Facilities Services
- Sector: Commercial Services
- Market Cap: US$504.096m
- Shares outstanding: 23.00m
- Website: https://www.spplus.com
Number of Employees
Location
- SP Plus Corporation
- 200 East Randolph Street
- Suite 7700
- Chicago
- Illinois
- 60601-7702
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| SP | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | May 2004 |
| PZA | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | May 2004 |
Biography
SP Plus Corporation provides parking management, ground transportation, baggage, and other ancillary services in North America. It provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, baggage handling, remote airline check-in, security, municipal meter revenue collection and enforcement, and consulting services. The company also offers shuttle bus vehicles and the drivers; ground transportation services, such as taxi and livery dispatch, concierge-type ground transportation information, and support services for arriving passengers; remote airline check-in services; wheelchair assist services; baggage repair and replacement services; on-street parking meter collection and other forms of parking enforcement services; valet services; and remote parking management services. In addition, it provides facility maintenance services, including power sweeping and washing, painting and general repairs, and cleaning and seasonal services; security services comprising training and hiring of security officers and patrol, as well as customized services and technology; and multi-platform marketing services. The company offers its services primarily under the SP+ and Bags brands. SP Plus Corporation serves private and public owners, municipalities and governments, managers and developers of office buildings, residential properties, commercial properties, shopping centers and other retail properties, healthcare facilities and medical centers, sports and special event complexes, hotels and resorts, and airlines and cruise lines. The company was formerly known as Standard Parking Corporation and changed its name to SP Plus Corporation in December 2013. SP Plus Corporation was founded in 1929 and is based in Chicago, Illinois.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/03/28 01:26 |
| End of Day Share Price | 2020/03/27 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.