Columbia Sportswear (NasdaqGS:COLM) - Share price, News & Analysis

Q: What is the Fair Price of COLM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

COLM ($71.5) is trading above our estimate of [[fair value]] ($70.28)

COLM fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	1/6
Past Performance	6/6
Financial Health	6/6
Dividends	4/6

COLM Stock Overview

Rewards

Price-To-Earnings ratio (12.3x) is below the US market (14.7x)

Earnings are forecast to grow 6.78% per year

Earnings grew by 123% over the past year

Risk Analysis

Unstable dividend track record

Columbia Sportswear Competitors

Under Armour

NYSE:UAA

US$3.7b

Hanesbrands

NYSE:HBI

US$3.6b

PVH

NYSE:PVH

US$3.8b

Capri Holdings

NYSE:CPRI

US$5.9b

Price History & Performance

Summary of all time highs, changes and price drops for Columbia Sportswear
Historical stock prices
Current Share Price	US$71.50
52 Week High	US$107.50
52 Week Low	US$68.29
Beta	0.91
1 Month Change	-10.68%
3 Month Change	-20.76%
1 Year Change	-29.42%
3 Year Change	-29.01%
5 Year Change	24.26%
Change since IPO	877.76%

Recent News & Updates

Jun 17

A Look At The Fair Value Of Columbia Sportswear Company (NASDAQ:COLM)

How far off is Columbia Sportswear Company ( NASDAQ:COLM ) from its intrinsic value? Using the most recent financial...

Jun 13

Columbia Sportswear: Long-Term Winner

Columbia is uniquely positioned to weather economic storms based on 2008 performance. Despite margin contraction, Columbia's margin remains in line with peers. Columbia posted revenue growth across all international regions.

Jun 02

Columbia Sportswear (NASDAQ:COLM) Is Very Good At Capital Allocation

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...

Shareholder Returns

	COLM	US Luxury	US Market
7D	-6.9%	-9.5%	-2.5%
1Y	-29.4%	-36.7%	-21.2%

Return vs Industry: COLM exceeded the US Luxury industry which returned -36.7% over the past year.

Return vs Market: COLM underperformed the US Market which returned -21.2% over the past year.

Price Volatility

Is COLM's price volatile compared to industry and market?
COLM volatility
COLM Average Weekly Movement	5.4%
Luxury Industry Average Movement	7.3%
Market Average Movement	8.1%
10% most volatile stocks in US Market	16.8%
10% least volatile stocks in US Market	3.3%

Stable Share Price: COLM is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: COLM's weekly volatility (5%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1938	8,325	Tim Boyle	https://www.columbia.com

Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor, active, and everyday lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East, Africa, and Canada. The company provides apparel, accessories, and equipment that are used in various activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel. It also offers footwear products that include lightweight hiking boots, trail running shoes, rugged cold weather boots for activities on snow and ice, sandals and shoes for use in water activities, and function-first fashion footwear and casual shoes for everyday use.

Columbia Sportswear Fundamentals Summary

How do Columbia Sportswear's earnings and revenue compare to its market cap?
COLM fundamental statistics
Market Cap	US$4.50b
Earnings (TTM)	US$365.05m
Revenue (TTM)	US$3.26b

12.3x

P/E Ratio

1.4x

P/S Ratio

Is COLM overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
COLM income statement (TTM)
Revenue	US$3.26b
Cost of Revenue	US$1.59b
Gross Profit	US$1.67b
Other Expenses	US$1.30b
Earnings	US$365.05m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Jul 27, 2022

Earnings per share (EPS)	5.81
Gross Margin	51.18%
Net Profit Margin	11.19%
Debt/Equity Ratio	0%

How did COLM perform over the long term?

See historical performance and comparison

Dividends

1.7%

Current Dividend Yield

19%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is COLM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for COLM?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for COLM. This is calculated by dividing COLM's market cap by their current preferred multiple.
What is COLM's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	US$4.50b

COLM key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	1.3x
Enterprise Value/EBITDA	7.4x
PEG Ratio	1.8x

Price to Earnings Ratio vs Peers

How does COLM's PE Ratio compare to its peers?

COLM PE Ratio vs Peers

The above table shows the PE ratio for COLM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	8.9x
UAA Under Armour	17.6x	9.0%	US$3.7b
HBI Hanesbrands	7.1x	8.7%	US$3.6b
PVH PVH	3.9x	9.6%	US$3.8b
CPRI Capri Holdings	7.2x	4.5%	US$5.9b
COLM Columbia Sportswear	12.3x	6.8%	US$4.5b

Forward PE

Price-To-Earnings vs Peers: COLM is expensive based on its Price-To-Earnings Ratio (12.3x) compared to the peer average (8.9x).

Price to Earnings Ratio vs Industry

How does COLM's PE Ratio compare vs other companies in the US Luxury Industry?

Price-To-Earnings vs Industry: COLM is expensive based on its Price-To-Earnings Ratio (12.3x) compared to the US Luxury industry average (9.3x)

Price to Earnings Ratio vs Fair Ratio

What is COLM's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

COLM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	12.3x
Fair PE Ratio	11.9x

Price-To-Earnings vs Fair Ratio: COLM is expensive based on its Price-To-Earnings Ratio (12.3x) compared to the estimated Fair Price-To-Earnings Ratio (11.9x).

Share Price vs Fair Value

What is the Fair Price of COLM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: COLM ($71.5) is trading above our estimate of fair value ($70.28)

Significantly Below Fair Value: COLM is trading above our estimate of fair value.

Price to Earnings Growth Ratio

PEG Ratio: COLM is poor value based on its PEG Ratio (1.8x)

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Future Growth

How is Columbia Sportswear forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

6.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: COLM's forecast earnings growth (6.8% per year) is above the savings rate (1.9%).

Earnings vs Market: COLM's earnings (6.8% per year) are forecast to grow slower than the US market (13.6% per year).

High Growth Earnings: COLM's earnings are forecast to grow, but not significantly.

Revenue vs Market: COLM's revenue (6.3% per year) is forecast to grow slower than the US market (8.2% per year).

High Growth Revenue: COLM's revenue (6.3% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: COLM's Return on Equity is forecast to be low in 3 years time (18.6%).

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Past Performance

How has Columbia Sportswear performed over the past 5 years?

Past Performance Score

6/6

Past Performance Score 6/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

10.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: COLM has high quality earnings.

Growing Profit Margin: COLM's current net profit margins (11.2%) are higher than last year (6.4%).

Past Earnings Growth Analysis

Earnings Trend: COLM's earnings have grown by 10.9% per year over the past 5 years.

Accelerating Growth: COLM's earnings growth over the past year (123%) exceeds its 5-year average (10.9% per year).

Earnings vs Industry: COLM earnings growth over the past year (123%) exceeded the Luxury industry 88.3%.

Return on Equity

High ROE: COLM's Return on Equity (20.1%) is considered high.

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Financial Health

How is Columbia Sportswear's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: COLM's short term assets ($1.8B) exceed its short term liabilities ($571.0M).

Long Term Liabilities: COLM's short term assets ($1.8B) exceed its long term liabilities ($398.1M).

Debt to Equity History and Analysis

Debt Level: COLM is debt free.

Reducing Debt: COLM has no debt compared to 5 years ago when its debt to equity ratio was 0.9%.

Debt Coverage: COLM has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: COLM has no debt, therefore coverage of interest payments is not a concern.

Balance Sheet

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Dividend

What is Columbia Sportswear current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

1.68%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: COLM's dividend (1.68%) is higher than the bottom 25% of dividend payers in the US market (1.6%).

High Dividend: COLM's dividend (1.68%) is low compared to the top 25% of dividend payers in the US market (4.25%).

Stability and Growth of Payments

Stable Dividend: COLM's dividend payments have been volatile in the past 10 years.

Growing Dividend: COLM's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (19.4%), COLM's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (45.5%), COLM's dividend payments are well covered by cash flows.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

5.5yrs

Average management tenure

CEO

Tim Boyle (72 yo)

34.5yrs

Tenure

US$4,751,179

Compensation

Mr. Timothy P. Boyle, also known as Tim, has been the Chairman of Columbia Sportswear Company since January 24, 2020. Mr. Boyle has been the Chief Executive Officer of Columbia Sportswear Company since 198...

CEO Compensation Analysis

Compensation vs Market: Tim's total compensation ($USD4.75M) is below average for companies of similar size in the US market ($USD6.91M).

Compensation vs Earnings: Tim's compensation has increased by more than 20% in the past year.

Leadership Team

Experienced Management: COLM's management team is seasoned and experienced (5.5 years average tenure).

Board Members

Experienced Board: COLM's board of directors are considered experienced (9.3 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: COLM 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.

Data	Last Updated (UTC time)
Company Analysis	2022/07/03 00:00
End of Day Share Price	2022/07/01 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31