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VOXX

VOXX International NasdaqGS:VOXX Stock Report

Last Price

US$9.52

Market Cap

US$227.9m

7D

6.8%

1Y

-18.4%

Updated

13 Aug, 2022

Data

Company Financials +
VOXX fundamental analysis
Snowflake Score
Valuation5/6
Future Growth3/6
Past Performance0/6
Financial Health4/6
Dividends0/6

VOXX Stock Overview

VOXX International Corporation, together with its subsidiaries, designs, manufactures, and distributes automotive electronics, consumer electronics, and biometric products in the United States, Europe, and internationally.

VOXX International Corporation Competitors

Price History & Performance

Summary of all time highs, changes and price drops for VOXX International
Historical stock prices
Current Share PriceUS$9.52
52 Week HighUS$13.41
52 Week LowUS$5.85
Beta1.15
1 Month Change46.24%
3 Month Change46.91%
1 Year Change-18.42%
3 Year Change109.23%
5 Year Change26.09%
Change since IPO280.80%

Recent News & Updates

Jul 21

VOXX International: Weak Q1 2023 Results With Limited Future Growth Prospects

VOXX reported weak Q1 2023 results with contracted gross margin. Chip shortage and supply chain disruption severely impacting the company's performance. I assign a sell rating for VOXX on the basis of overvaluation and limited growth potential. Investment Thesis VOXX International Corporation (VOXX) Is a leading electronics manufacturer and distributor, headquartered in headquartered in Orlando, Florida. In this thesis, I will primarily analyze the quarterly results of VOXX and its future growth prospects. I will also be analyzing the impact of chip shortage and supply disruption on company's performance. Company Overview VOXX Is a leading global manufacturer and distributor of Automotive Electronics, Consumer Electronics, and Biometrics products. The company has worldwide operations with more than 30 global brands under its control. The company has segregated its business into three main segments; Automotive Electronics, Consumer Electronics, and Biometrics. The Automotive Electronics segment designs, manufactures and distributes driver distraction products, automotive security, remote start systems, location-based services, turn signal switches, automotive lighting products, heated seats, and satellite radio products. The Consumer Electronics segment offers home theater systems, cinema speakers, flat panel speakers, wireless and Bluetooth speakers, karaoke products, personal sound amplifiers, and many more Consumer Electronic products. The Biometrics segment manufactures and markets iris identification and biometric security products. The Consumer Electronics segment contributes the maximum revenue at 69% of the total revenue, followed by Automotive Electronics at 30.5%. The company relies on suppliers and manufacturers based in Pacific Rim countries, including China, Hong Kong, Indonesia, Vietnam, South Korea, and Taiwan, for several products and components procurement. VOXX operates in a highly competitive space with competition from some of the giants like Sony, LG, Bosch, GE, Bose, and many others. Q1 2023 Results VOXX reported a severely underperforming quarter, missing market estimates on both EPS and revenue. The company missed the market's EPS estimates by an astonishing 212% and the revenue estimates by 4%. The company failed to impress on all the parameters, including the net profit margins. The company suffered from the supply chain and chip shortage issues more than the company had anticipated. I believe Q1 2023 result highlights the fault lines in the company's supply chain and inventory management. The company failed to impress me with Q1 2023 results. SEC:10Q VOXX VOXX reported net sales in the Automotive Electronics segment at $39.6 million, a fall of 7.2% compared to $42.7 million in the prior year's quarter. As per my analysis, the reason for this fall can primarily be attributed to the chip and component shortage resulting in delayed execution of orders. The Consumer Electronics segment's net sales fell 5.5% to $88.9 million, compared to $94.1 million in Q1 2022. I believe the fall was majorly due to lower-than-expected sales of premium home theater speaker systems. The company reported a total net sales of $128.7 million, a 6% fall compared to $137 million in Q1 2022. The company reported a gross margin of 25.8%, compared to 26.8% in the prior-year quarter. The increased tariffs, shipping costs, and the component procurement cost were the main reasons behind the contracted gross margins. VOXX reported a net loss of $6.5 million compared to a net income of $2.7 million in the prior year's quarter, a drastic 340% fall. The fall was primarily due to increased operating costs and, on the other hand, lower net sales. The diluted loss per share was reported at $0.27, a fall of $0.38 compared to EPS of $.11 in Q1 2022. Pat Lavelle, President and Chief Executive Officer, commented, During the Fiscal 2023 first quarter, we continued to experience supply chain issues though the biggest impact was the lack of chips which directly impacted our automotive OEM and aftermarket business. Retailer buying also slowed in March given high inventory positions which impacted sales in our Consumer Electronics segment. While these challenges will persist, we are still poised for growth and expect to have a strong second half of the year based on new Automotive programs, increased production and sales of Onkyo products, along with expanding worldwide distribution, and a host of new products coming to market. I believe the company could face the supply chain issues in the coming quarters to the same extent that they have faced in Q1 2023. The chip shortage is the most significant cause of concern for the company, restricting its ability to execute orders on time. Given the macro-economic environment and the slowdown of chip production in the south Asian countries, the chances of recovery for the company appear to be slim. As per my analysis, the gross margins of the company might remain stressed even in the coming quarters. The earnings are expected to improve in H2, but the gross margins may remain stressed throughout fiscal 2023. Key Risk Factor

Jul 18
Here's Why VOXX International (NASDAQ:VOXX) Is Weighed Down By Its Debt Load

Here's Why VOXX International (NASDAQ:VOXX) Is Weighed Down By Its Debt Load

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...

Shareholder Returns

VOXXUS Consumer DurablesUS Market
7D6.8%3.6%3.2%
1Y-18.4%-26.7%-10.1%

Return vs Industry: VOXX exceeded the US Consumer Durables industry which returned -26.7% over the past year.

Return vs Market: VOXX underperformed the US Market which returned -10.1% over the past year.

Price Volatility

Is VOXX's price volatile compared to industry and market?
VOXX volatility
VOXX Average Weekly Movement13.2%
Consumer Durables Industry Average Movement7.6%
Market Average Movement7.7%
10% most volatile stocks in US Market16.9%
10% least volatile stocks in US Market3.2%

Stable Share Price: VOXX is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 13% a week.

Volatility Over Time: VOXX's weekly volatility (13%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

FoundedEmployeesCEOWebsite
19601,082Pat Lavellehttps://www.voxxintl.com

VOXX International Corporation, together with its subsidiaries, designs, manufactures, and distributes automotive electronics, consumer electronics, and biometric products in the United States, Europe, and internationally. Its Automotive Electronics segment offers mobile multi-media infotainment products, including overhead, seat-back, and headrest systems; automotive security, vehicle access, and remote start systems; satellite radios comprising plug and play, and direct connect models; smart phone telematics applications; automotive power accessories; rear observation and collision avoidance systems; driver distraction products; power lift gates; mobile interface modules; turn signal switches; automotive lighting products; automotive sensing and camera systems; USB ports; cruise control systems; and heated seats. The company’s Consumer Electronics segment provides speakers; home theater, business music, and streaming music systems; on-ear and in-ear headphones; wired and wireless headphones and ear buds; Bluetooth headphones and ear buds; soundbars; digital living network alliance compatible devices; high-definition television and wireless fidelity antennas; high-definition multimedia interface accessories; karaoke and infant/nursery products; home electronic accessories, such as cabling and power cords; other connectivity products; performance enhancing electronics; TV universal remotes; flat panel TV mounting systems; power supply systems and charging products; electronic equipment cleaning products; personal sound amplifiers; set-top boxes; and home and portable stereos.

VOXX International Corporation Fundamentals Summary

How do VOXX International's earnings and revenue compare to its market cap?
VOXX fundamental statistics
Market CapUS$227.88m
Earnings (TTM)-US$31.58m
Revenue (TTM)US$627.59m

0.4x

P/S Ratio

-7.2x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
VOXX income statement (TTM)
RevenueUS$627.59m
Cost of RevenueUS$461.57m
Gross ProfitUS$166.02m
Other ExpensesUS$197.60m
Earnings-US$31.58m

Last Reported Earnings

May 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-1.32
Gross Margin26.45%
Net Profit Margin-5.03%
Debt/Equity Ratio4.6%

How did VOXX perform over the long term?

See historical performance and comparison