SP Plus
SP Plus Corporation provides parking management, ground transportation, baggage, and other ancillary services to commercial, hospitality, institutional, municipal and governmental, and aviation clients in the United States, Canada, and Puerto Rico. The last earnings update was 16 days ago. More info.
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SP Share Price and Events
7 Day Returns
1 Year Returns
SP Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| SP Plus (SP) | -0.7% | -4.9% | -12.2% | -7.3% | 46.3% | 39.8% |
| US Commercial Services | 1.4% | 0.3% | 5.6% | 11.5% | 53% | 73.2% |
| US Market | 1.6% | -1.7% | 2.1% | 2.6% | 38.5% | 41.4% |
1 Year Return vs Industry and Market
- SP underperformed the Commercial Services industry which returned 11.5% over the past year.
- SP underperformed the Market in United States of America which returned 2.6% over the past year.
SP Value
Is SP Plus undervalued based on future cash flows and its price relative to the stock market?
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
SP Plus
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 SP Plus.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 4 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 10.3% |
| 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% |
| Commercial Services Unlevered Beta | Simply Wall St/ S&P Global | 0.72 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.717 (1 + (1- 21%) (119%)) |
1.262 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.26 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.262 * 5.96%) |
10.25% |
Discounted Cash Flow Calculation for NasdaqGS:SP using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for SP Plus 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 (@ 10.25%) |
|
|---|---|---|---|
| 2019 | 46.44 | Analyst x2 | 42.12 |
| 2020 | 74.99 | Analyst x1 | 61.69 |
| 2021 | 91.72 | Est @ 22.3% | 68.44 |
| 2022 | 106.79 | Est @ 16.43% | 72.27 |
| 2023 | 119.94 | Est @ 12.32% | 73.63 |
| 2024 | 131.27 | Est @ 9.44% | 73.09 |
| 2025 | 141.02 | Est @ 7.43% | 71.22 |
| 2026 | 149.51 | Est @ 6.02% | 68.48 |
| 2027 | 157.03 | Est @ 5.03% | 65.24 |
| 2028 | 163.85 | Est @ 4.34% | 61.74 |
| Present value of next 10 years cash flows | $657.92 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $163.85 × (1 + 2.73%) ÷ (10.25% – 2.73%) |
$2,237.73 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $2,237.73 ÷ (1 + 10.25%)10 |
$843.21 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $657.92 + $843.21 |
$1,501.13 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $1,501.13 / 22.48 |
$66.79 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $66.79 |
| Current discount | Discount to share price of
$32.78
= -1 x ($32.78 - $66.79) / $66.79 |
50.9% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- SP Plus's share price is below the future cash flow value, and at a moderate discount (> 20%).
- SP Plus'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 SP Plus's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
SP Plus'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 (2019-03-31) in USD | $2.16 |
| NasdaqGS:SP Share Price ** | NasdaqGS (2019-05-21) in USD | $32.78 |
| United States of America Commercial Services Industry PE Ratio | Median Figure of 50 Publicly-Listed Commercial Services Companies | 22.76x |
| United States of America Market PE Ratio | Median Figure of 3,087 Publicly-Listed Companies | 17.74x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of SP Plus.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NasdaqGS:SP Share Price ÷ EPS (both in USD) = 32.78 ÷ 2.16 |
15.17x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- SP Plus is good value based on earnings compared to the US Commercial Services industry average.
- SP Plus is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does
SP Plus's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 15.17x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts |
6.6%per year |
| United States of America Commercial Services Industry PEG Ratio | Median Figure of 35 Publicly-Listed Commercial Services Companies | 1.73x |
| United States of America Market PEG Ratio | Median Figure of 2,123 Publicly-Listed Companies | 1.53x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 15.17x ÷ 6.6% |
2.3x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- SP Plus is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
SP Plus's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in USD | $16.79 |
| NasdaqGS:SP Share Price * | NasdaqGS (2019-05-21) in USD | $32.78 |
| United States of America Commercial Services Industry PB Ratio | Median Figure of 88 Publicly-Listed Commercial Services Companies | 1.89x |
| United States of America Market PB Ratio | Median Figure of 5,202 Publicly-Listed Companies | 1.84x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NasdaqGS:SP Share Price ÷ Book Value per Share (both in USD) = 32.78 ÷ 16.79 |
1.95x |
* Primary Listing of SP Plus.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- SP Plus is overvalued based on assets compared to the US Commercial Services industry average.
Value checks
We assess SP Plus'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 Commercial Services 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 Commercial Services industry average (and greater than 0)? (1 check) SP Plus 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.
SP Future Performance
How is SP Plus expected to perform in the next 1 to 3 years based on estimates from 4 analysts?
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
- SP Plus's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- SP Plus's earnings growth is positive but not above the United States of America market average.
- SP Plus'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) |
|---|---|---|
| NasdaqGS:SP Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts | 6.6% |
| NasdaqGS:SP Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts | 6.1% |
| United States of America Commercial Services Industry Earnings Growth Rate | Market Cap Weighted Average | 15.3% |
| United States of America Commercial Services Industry Revenue Growth Rate | Market Cap Weighted Average | 5.3% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.8% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.3% |
*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 (1 month ago) | See Below |
| Future Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2020-12-31 | 950 | 88 | 53 | 4 |
| 2019-12-31 | 927 | 60 | 48 | 4 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 812 | 66 | 49 |
| 2018-12-31 | 775 | 71 | 53 |
| 2018-09-30 | 802 | 59 | 52 |
| 2018-06-30 | 843 | 43 | 50 |
| 2018-03-31 | 882 | 39 | 51 |
| 2017-12-31 | 911 | 45 | 41 |
| 2017-09-30 | 905 | 51 | 43 |
| 2017-06-30 | 898 | 66 | 39 |
| 2017-03-31 | 885 | 60 | 29 |
| 2016-12-31 | 892 | 60 | 23 |
| 2016-09-30 | 896 | 55 | 16 |
| 2016-06-30 | 909 | 55 | 13 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
All data from SP Plus Company Filings, last reported 1 month 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 |
|---|---|---|---|---|
| 2020-12-31 | 2.35 | 2.39 | 2.30 | 2.00 |
| 2019-12-31 | 2.11 | 2.11 | 2.10 | 2.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-03-31 | 2.16 |
| 2018-12-31 | 2.38 |
| 2018-09-30 | 2.32 |
| 2018-06-30 | 2.23 |
| 2018-03-31 | 2.27 |
| 2017-12-31 | 1.86 |
| 2017-09-30 | 1.94 |
| 2017-06-30 | 1.75 |
| 2017-03-31 | 1.31 |
| 2016-12-31 | 1.04 |
| 2016-09-30 | 0.72 |
| 2016-06-30 | 0.57 |
*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.
- Unable to establish if SP Plus will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess SP Plus'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)
SP Plus has a total score of 1/6, 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.
SP Past Performance
How has SP Plus 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
- SP Plus has delivered over 20% year on year earnings growth in the past 5 years.
- SP Plus's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- SP Plus's 1-year earnings growth is negative, it can't be compared to the US Commercial Services industry average.
Earnings and Revenue History
All data from SP Plus Company Filings, last reported 1 month 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 |
|---|---|---|---|---|
| 2019-03-31 | 812.20 | 48.50 | 87.90 | |
| 2018-12-31 | 775.40 | 53.20 | 82.90 | |
| 2018-09-30 | 802.30 | 51.90 | 79.40 | |
| 2018-06-30 | 842.60 | 49.60 | 80.90 | |
| 2018-03-31 | 882.30 | 50.50 | 81.70 | |
| 2017-12-31 | 911.30 | 41.20 | 81.70 | |
| 2017-09-30 | 904.90 | 43.00 | 81.00 | |
| 2017-06-30 | 897.50 | 38.80 | 81.50 | |
| 2017-03-31 | 885.00 | 29.10 | 82.00 | |
| 2016-12-31 | 891.80 | 23.10 | 84.70 | |
| 2016-09-30 | 896.40 | 16.10 | 85.00 | |
| 2016-06-30 | 908.60 | 12.80 | 87.00 | |
| 2016-03-31 | 921.00 | 16.10 | 89.40 | |
| 2015-12-31 | 921.20 | 17.40 | 91.30 | |
| 2015-09-30 | 908.64 | 23.99 | 93.71 | |
| 2015-06-30 | 883.12 | 24.59 | 92.74 | |
| 2015-03-31 | 858.21 | 20.10 | 92.31 | |
| 2014-12-31 | 834.90 | 23.10 | 92.50 | |
| 2014-09-30 | 836.76 | 19.07 | 91.93 | |
| 2014-06-30 | 830.33 | 18.52 | 89.46 | |
| 2014-03-31 | 832.33 | 16.65 | 89.26 | |
| 2013-12-31 | 836.90 | 12.10 | 88.90 | |
| 2013-09-30 | 839.89 | 0.27 | 81.92 | |
| 2013-06-30 | 731.63 | -1.28 | 76.73 | |
| 2013-03-31 | 606.53 | -0.65 | 72.43 | |
| 2012-12-31 | 480.86 | 1.34 | 59.48 | |
| 2012-09-30 | 344.27 | 10.80 | 54.56 | |
| 2012-06-30 | 332.83 | 14.58 | 52.90 |
*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.
- SP Plus has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- SP Plus used its assets less efficiently than the US Commercial Services industry average last year based on Return on Assets.
- SP Plus's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess SP Plus'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 Commercial Services 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)
SP Plus has a total score of 1/6, 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.
SP Health
How is SP Plus'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 SP Plus's finances.
The net worth of a company is the difference between its assets and liabilities.
- SP Plus's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- SP Plus's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.2x 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 SP Plus Company Filings, last reported 1 month ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 377.00 | 876.70 | 23.70 |
| 2018-12-31 | 368.60 | 386.70 | 39.90 |
| 2018-09-30 | 358.70 | 107.80 | 20.20 |
| 2018-06-30 | 345.20 | 126.40 | 32.50 |
| 2018-03-31 | 328.30 | 146.10 | 28.50 |
| 2017-12-31 | 313.10 | 153.80 | 22.80 |
| 2017-09-30 | 305.50 | 173.40 | 23.40 |
| 2017-06-30 | 293.10 | 169.20 | 27.50 |
| 2017-03-31 | 275.40 | 191.80 | 21.60 |
| 2016-12-31 | 268.40 | 195.10 | 22.30 |
| 2016-09-30 | 260.30 | 214.20 | 19.30 |
| 2016-06-30 | 256.90 | 216.90 | 22.10 |
| 2016-03-31 | 249.60 | 234.50 | 30.80 |
| 2015-12-31 | 250.10 | 225.10 | 18.70 |
| 2015-09-30 | 246.77 | 247.26 | 18.99 |
| 2015-06-30 | 242.17 | 258.68 | 23.83 |
| 2015-03-31 | 231.16 | 267.17 | 18.82 |
| 2014-12-31 | 229.80 | 250.80 | 18.20 |
| 2014-09-30 | 220.27 | 263.28 | 19.02 |
| 2014-06-30 | 214.99 | 277.19 | 23.91 |
| 2014-03-31 | 208.45 | 304.27 | 25.08 |
| 2013-12-31 | 203.71 | 288.67 | 23.16 |
| 2013-09-30 | 197.84 | 309.54 | 22.90 |
| 2013-06-30 | 193.20 | 306.39 | 21.60 |
| 2013-03-31 | 187.70 | 323.12 | 26.80 |
| 2012-12-31 | 187.00 | 311.35 | 28.45 |
| 2012-09-30 | 60.02 | 73.29 | 10.39 |
| 2012-06-30 | 57.19 | 71.67 | 9.06 |
- SP Plus's level of debt (232.5%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (145.8% vs 232.5% today).
- Debt is not well covered by operating cash flow (7.5%, less than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 7.3x coverage).
Financial health checks
We assess SP Plus'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) SP Plus has a total score of 1/6, 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.
SP Dividends
What is SP Plus'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
SP Plus
shares you are expected to receive
$0
in your first year as a dividend.
Dividend Amount
- Unable to evaluate SP Plus's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
- Unable to evaluate SP Plus's dividend against the top 25% market benchmark as the company has not reported any payouts.
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 4 Analyst Estimates (S&P Global) | See Below |
| United States of America Commercial Services Industry Average Dividend Yield | Market Cap Weighted Average of 40 Stocks | 1.7% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2003 Stocks | 2.5% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.5% |
| 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 |
|---|---|---|
| 2020-12-31 | ||
| 2019-12-31 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to perform a dividend volatility check as SP Plus has not reported any payouts.
- Unable to verify if SP Plus's dividend has been increasing as the company has not reported any payouts.
Income/ dividend checks
We assess SP Plus'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 SP Plus afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) SP Plus has a total score of 0/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
SP Management
CEO
| COMPENSATION | $3,175,834 |
| AGE | 62 |
| TENURE AS CEO | 4.3 years |
CEO Bio
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 16, 2014. Mr. Baumann served as Chief Financial Officer and Treasurer of SP Plus Corporation (Alternate Name: Standard Parking Corporation) since October 2000 and as its President of Urban Operations since October 2012. He served as the Chief Operating Officer of SP Plus Corporation from March 16, 2014 to December 31, 2014. Mr. Baumann served as Treasurer of AP Holdings Holding company at Apcoa Standard Parking Inc. from October 2000 to April 2004 and also served as its Executive Vice President since October 2000. Previously, he served as the Chief Financial Officer for Warburtons Ltd. in Bolton, England. Mr. Baumann joined Warburtons, Inc. in Chicago in 1989 as Chief Financial Officer and Executive Vice President and served as its President and Chief Executive Officer since 1990. In 1993, Mr. Baumann relocated to England in connection with his appointment as Chief Financial Officer of Warburtons, Ltd. Prior to Warburtons, he served as the Executive Vice President and Chief Operating Officer for Hammacher Schlemmer & Co. He has been a Director of SP Plus Corporation since December 31, 2014. Mr. Baumann is a certified public accountant and a member of both the American Institute of Certified Public Accountants and the Illinois CPA Society. He received his B.S. degree in 1977 from Northwestern University and an M.B.A. from the Kellogg School of Management at Northwestern University in 1979.
CEO Compensation
- G.'s compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
- G.'s remuneration is about average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the SP Plus management team in years:
- The tenure for the SP Plus management team is about average.
Management Team
G. Baumann
President
$3M
62
4.3 yrs
Gerard Klaisle
Executive VP & Chief Administrative Officer
$948K
64
4.3 yrs
Jack Ricchiuto
President of Airport Division
$1M
61
16.4 yrs
Rob Toy
President of Commercial Operations
$1M
61
6.6 yrs
Kristopher Roy
Interim CFO
43
0.1 yrs
Robert Sacks
Executive VP
$852K
65
31.2 yrs
Roamy Valera
Senior Vice President of Municipal & Institutional Services
Michael Miller
Senior Vice President of Operations in Hawaii
Jeff Eckerling
Senior Vice President of Revenue & Growth
2.6 yrs
Bob Miles
President of Bags
0.1 yrs
Board of Directors Tenure
Average tenure and age of the SP Plus board of directors in years:
- The average tenure for the SP Plus board of directors is less than 3 years, this suggests a new board.
Board of Directors
Karen Garrison
Chairman of the Board
$243K
69
2.3 yrs
G. Baumann
President
$3M
62
4.3 yrs
William Bodenhamer
Chairman of USA Parking System
$726K
65
2.3 yrs
Wyman Roberts
Independent Director
$164K
59
4.1 yrs
Alice Peterson
Director
$134K
65
1.2 yrs
Doug Waggoner
Independent Director
$160K
59
4.1 yrs
Greg Reid
Director
$158K
65
2 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 27. Mar 19 | Sell | Robert Toy | Individual | 25. Mar 19 | 26. Mar 19 | -2,500 | $33.05 | $-82,594 | ||
| 27. Feb 19 | Sell | John Ricchiuto | Individual | 25. Feb 19 | 25. Feb 19 | -4,913 | $36.08 | $-177,271 | ||
| 07. Aug 18 | Sell | Thomas Hagerman | Individual | 03. Aug 18 | 03. Aug 18 | -3,918 | $39.25 | $-153,784 | ||
Management checks
We assess SP Plus'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) SP Plus 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.
SP News
Simply Wall St News
Is Now An Opportune Moment To Examine SP Plus Corporation (NASDAQ:SP)?
Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price. … Great news for investors – SP Plus is still trading at a fairly cheap price. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price.
Simply Wall St - – Full articleIs SP Plus Corporation (NASDAQ:SP) Trading At A 49% Discount?
In this article we are going to estimate the intrinsic value of SP Plus Corporation (NASDAQ:SP). … by taking the expected future cash flows and discounting them to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model
Simply Wall St - – Full articleIs SP Plus Corporation's (NASDAQ:SP) 15% ROE Better Than Average?
This article is for those who would like to learn about Return On Equity (ROE). … That means that for every $1 worth of shareholders' equity, it generated $0.15 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleRead This Before Buying SP Plus Corporation (NASDAQ:SP) Shares
So we know that an insider sold shares at around the present share price of US$33.52. … While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. … Over the last year, we note insiders sold 11331 shares worth US$414k
Simply Wall St - – Full articleUpdate: SP Plus (NASDAQ:SP) Stock Gained 43% In The Last Three Years
For example, the SP Plus Corporation (NASDAQ:SP) share price is up 43% in the last three years, slightly above the market return. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … SP Plus was able to grow its EPS at 45% per year over three years, sending the share price higher.
Simply Wall St - – Full articleThese Factors Make SP Plus Corporation (NASDAQ:SP) An Interesting Investment
Attractive stocks have exceptional fundamentals. … In the case of SP Plus Corporation (NASDAQ:SP), there's. … trading at a great value
Simply Wall St - – Full articleShould You Worry About SP Plus Corporation's (NASDAQ:SP) CEO Salary Level?
First, this article will compare CEO compensation with compensation at similar sized companies. … Baumann's Compensation Compare With Similar Sized Companies. … According to our data, SP Plus Corporation has a market capitalization of US$751m, and pays its CEO total annual compensation worth US$1.5m.
Simply Wall St - – Full articleInterested In SP Plus Corporation (NASDAQ:SP)? Here's What Its Recent Performance Looks Like
After reading SP Plus Corporation's (NASDAQ:SP) most recent earnings announcement (31 December 2018), I found it useful to look back at how the company has performed in the past and compare this against the latest numbers. … As a long-term investor I tend to focus on earnings trend, rather than a single number at one point in time. … SP's trailing twelve-month earnings (from 31 December 2018) of US$53m has.
Simply Wall St - – Full articleHow Does Investing In SP Plus Corporation (NASDAQ:SP) Impact The Volatility Of Your Portfolio?
Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful.
Simply Wall St - – Full articleIs Now An Opportune Moment To Examine SP Plus Corporation (NASDAQ:SP)?
SP Plus Corporation (NASDAQ:SP), which is in the commercial services business, and is based in United States,. … As a small cap stock, hardly covered by any analysts, there is generally more of an opportunity for mispricing as there is less activity to push the stock closer to fair value? … Let’s take a look at SP Plus’s outlook and value based on the most recent financial data to see if the opportunity still exists
Simply Wall St - – Full articleSP Company Info
Description
SP Plus Corporation provides parking management, ground transportation, baggage, and other ancillary services to commercial, hospitality, institutional, municipal and governmental, and aviation clients in the United States, Canada, and Puerto Rico. 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 services; 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; and multi-platform marketing services. 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.
Details
| Name: | SP Plus Corporation |
| SP | |
| Exchange: | NasdaqGS |
| Founded: | 1929 |
| $736,752,233 | |
| 22,475,663 | |
| Website: | http://www.spplus.com |
| Address: |
SP Plus Corporation 200 East Randolph Street, Suite 7700, Chicago, Illinois, 60601, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NasdaqGS | SP | Common Stock | Nasdaq Global Select | US | USD | 27. May 2004 | |
| DB | PZA | Common Stock | Deutsche Boerse AG | DE | EUR | 27. May 2004 |
Number of employees
Current staff
Industry
| Environmental and Facilities Services | |
| Commercial Services |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/22 04:04 |
| End of day share price update: | 2019/05/21 00:00 |
| Last estimates confirmation: | 2019/05/13 |
| Last earnings filing: | 2019/05/06 |
| Last earnings reported: | 2019/03/31 |
| 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.
