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SP Plus

Nasdaq:SP
Snowflake Description

Good value with concerning outlook.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SP
Nasdaq
$737M
Market Cap
  1. Home
  2. US
  3. Commercial Services
Company 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. The last earnings update was 16 days ago. More info.


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SP Share Price and Events
7 Day Returns
-0.7%
NasdaqGS:SP
1.4%
US Commercial Services
1.6%
US Market
1 Year Returns
-7.3%
NasdaqGS:SP
11.5%
US Commercial Services
2.6%
US Market
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.
Price Volatility
SP
Industry
5yr Volatility vs Market

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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for SP Plus.

NasdaqGS:SP Discounted Cash Flow Data Sources
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.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:SP
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.

NasdaqGS:SP DCF 1st Stage: Next 10 year cash flow forecast
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
NasdaqGS:SP DCF 2nd Stage: Terminal Value
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
NasdaqGS:SP Total Equity Value
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
NasdaqGS:SP Discount to Share Price
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
Amount off the current price SP Plus is available for.
Intrinsic value
>50%
Share price is $32.78 vs Future cash flow value of $66.79
Current Discount Checks
For SP Plus to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • 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?
Raw Data
NasdaqGS:SP PE (Price to Earnings) Ratio Data Sources
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.

NasdaqGS:SP PE (Price to Earnings) Ratio Calculation
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?
Raw Data
NasdaqGS:SP PEG (Price to Earnings to Growth) Ratio Data Sources
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 .

NasdaqGS:SP PEG (Price to Earnings to Growth) Ratio Calculation
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?
Raw Data
NasdaqGS:SP PB (Price to Book) Ratio Data Sources
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
NasdaqGS:SP PB (Price to Book) Ratio Calculation
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.
X
Value checks
We assess SP Plus's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the Commercial Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Commercial Services industry average (and greater than 0)? (1 check)
  5. 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!
Annual Growth Rate
6.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is SP Plus expected to grow at an attractive rate?
  • 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
Raw Data
NasdaqGS:SP Future Growth Rates Data Sources
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
Raw Data
NasdaqGS:SP Analysts Growth Expectations Data Sources
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 numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:SP Future Estimates Data
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
NasdaqGS:SP Past Financials Data
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.

Super high growth metrics
High Growth Checks
  • SP Plus's earnings are expected to grow by 6.6% yearly, however this is not considered high growth (20% yearly).
  • SP Plus's revenue is expected to grow by 6.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:SP 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.

NasdaqGS:SP Future Estimates Data
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
NasdaqGS:SP Past Financials Data
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.
X
Future performance checks
We assess SP Plus's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
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
Below we compare SP Plus's growth in the last year to its industry (Commercial Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • 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
SP Plus's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from SP Plus Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:SP Past Revenue, Cash Flow and Net Income Data
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).
X
Past performance checks
We assess SP Plus's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Commercial Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
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.
Net Worth
  • 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
This treemap shows a more detailed breakdown of SP Plus's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • 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.
Raw Data

All data from SP Plus Company Filings, last reported 1 month ago.

NasdaqGS:SP Past Debt and Equity Data
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).
X
Financial health checks
We assess SP Plus's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. SP Plus has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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
Dividend payments
0%
Current annual income from SP Plus dividends.
If you bought $2,000 of SP Plus shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • 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.
Raw Data
NasdaqGS:SP Annualized Past and Future Dividends
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.

NasdaqGS:SP Future Dividends Estimate Data
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.
Current Payout to shareholders
What portion of SP Plus's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as SP Plus has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess SP Plus's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. 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)
  7. 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

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
G. Baumann
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:

4.3
Average Tenure
61.5
Average Age
  • The tenure for the SP Plus management team is about average.
Management Team

G. Baumann

TITLE
President
COMPENSATION
$3M
AGE
62
TENURE
4.3 yrs

Gerard Klaisle

TITLE
Executive VP & Chief Administrative Officer
COMPENSATION
$948K
AGE
64
TENURE
4.3 yrs

Jack Ricchiuto

TITLE
President of Airport Division
COMPENSATION
$1M
AGE
61
TENURE
16.4 yrs

Rob Toy

TITLE
President of Commercial Operations
COMPENSATION
$1M
AGE
61
TENURE
6.6 yrs

Kristopher Roy

TITLE
Interim CFO
AGE
43
TENURE
0.1 yrs

Robert Sacks

TITLE
Executive VP
COMPENSATION
$852K
AGE
65
TENURE
31.2 yrs

Roamy Valera

TITLE
Senior Vice President of Municipal & Institutional Services

Michael Miller

TITLE
Senior Vice President of Operations in Hawaii

Jeff Eckerling

TITLE
Senior Vice President of Revenue & Growth
TENURE
2.6 yrs

Bob Miles

TITLE
President of Bags
TENURE
0.1 yrs
Board of Directors Tenure

Average tenure and age of the SP Plus board of directors in years:

2.3
Average Tenure
65
Average Age
  • 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

TITLE
Chairman of the Board
COMPENSATION
$243K
AGE
69
TENURE
2.3 yrs

G. Baumann

TITLE
President
COMPENSATION
$3M
AGE
62
TENURE
4.3 yrs

William Bodenhamer

TITLE
Chairman of USA Parking System
COMPENSATION
$726K
AGE
65
TENURE
2.3 yrs

Wyman Roberts

TITLE
Independent Director
COMPENSATION
$164K
AGE
59
TENURE
4.1 yrs

Alice Peterson

TITLE
Director
COMPENSATION
$134K
AGE
65
TENURE
1.2 yrs

Doug Waggoner

TITLE
Independent Director
COMPENSATION
$160K
AGE
59
TENURE
4.1 yrs

Greg Reid

TITLE
Director
COMPENSATION
$158K
AGE
65
TENURE
2 yrs
Who owns this company?
Recent Insider Trading
  • SP Plus insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) 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
X
Management checks
We assess SP Plus's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. 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 -

Is 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 -

Is 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 -

Read 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 -

Update: 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 -

These 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 -

Should 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 -

Interested 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 -

How 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 -

Is 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 -

SP 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
Staff numbers
18,850
SP Plus employees.
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.