SP Plus Corporation provides professional parking, ground transportation, facility maintenance, security and event logistics services to property owners and managers in all markets of the real estate industry. The company was founded in 1929 and is based in Chicago, Illinois.
SP Price Forecast Based on DCF Valuation
DCF Fair Value Target:
The table below illustrates the output of a discounted cash flow forecast using a variety of scenarios for SP Plus Corp. To summarize, we found that SP Plus Corp ranked in the 19th percentile in terms of potential gain offered. We should note, though, that all scenearios modelled for this stock suggest it is overvalued. As for the metrics that stood out in our discounted cash flow analysis of SP Plus Corp, consider:
The company's compound free cash flow growth rate over the past 5.52 years comes in at -0.01%; that's greater than only 22.52% of US stocks we're applying DCF forecasting to.
The company has produced more trailing twelve month cash flow than only 24.43% of its sector Industrials.
SP Plus Corp's interest coverage rate -- a measure of gross earnings relative to interest payments -- comes in at -10.4. This coverage rate is greater than that of just 8% of stocks we're observing for the purpose of forecasting via discounted cash flows.
Terminal Growth Rate in Free Cash Flow
Return Relative to Current Share Price
For other companies in the Industrials that have a similar discounted cashflow valuation profile (and ensuing price forecasts) as SP, try MATX, SXI, WLFC, CATM, and PBI.
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Over the past three months, shares of SP Plus (NASDAQ: SP) increased by 64.56%. Before we understand the importance of debt, let us look at how much debt SP Plus has.SP Plus's Debt Based on SP Plus's balance sheet as of November 9, 2020, long-term debt is at $348.10 million and current debt is at $23.20 million, amounting to $371.30 million in total debt. Adjusted for $15.60 million in cash-equivalents, the company's net debt is at $355.70 million.Let's define some of the terms we used in the paragraph above. Current debt is the portion of a company's debt which is due within 1 year, while long-term debt is the portion due in more than 1 year. Cash equivalents include cash and any liquid securities with maturity periods of 90 days or less. Total debt equals current debt plus long-term d...
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