Angi Inc.

ANGI

Services-Advertising

Mkt Cap

$1.081B

PE

-39.66

Debt

$496.2M

Cash

$363.3M

EV

$1.214B

FCF

$46.59M

Market Cap

$1.081B

P/E Ratio

-39.66

Debt

$496.2M

Cash

$363.3M

EV

$1.214B

FCF

$46.59M

Charts data: {"Earnings":[{"time":"2015-12-30","value":-1325000},{"time":"2016-12-30","value":13128000},{"time":"2017-12-30","value":-103118000},{"time":"2018-12-30","value":77318000},{"time":"2019-12-30","value":34829000},{"time":"2020-12-30","value":-6283000},{"time":"2021-12-30","value":-71378000},{"time":"2022-12-30","value":-128450000},{"time":"2023-12-30","value":-40940000}],"Sales":[{"time":"2015-12-30","value":361201000},{"time":"2016-12-30","value":498890000},{"time":"2017-12-30","value":736386000},{"time":"2018-12-30","value":1132241000},{"time":"2019-12-30","value":1326205000},{"time":"2020-12-30","value":1467925000},{"time":"2021-12-30","value":1685438000},{"time":"2022-12-30","value":1891524000},{"time":"2023-12-30","value":1358748000}],"Net Margins":[{"time":"2015-12-30","value":-0.0036683176403166104},{"time":"2016-12-30","value":0.02631441800797771},{"time":"2017-12-30","value":-0.1400325372834356},{"time":"2018-12-30","value":0.06828758188406885},{"time":"2019-12-30","value":0.02626215404104192},{"time":"2020-12-30","value":-0.004280191426673706},{"time":"2021-12-30","value":-0.04234982242004749},{"time":"2022-12-30","value":-0.06790820523556666},{"time":"2023-12-30","value":-0.030130679125194664}],"Assets":[{"time":"2016-12-30","value":295517000},{"time":"2017-12-30","value":1467262000},{"time":"2018-12-30","value":1808027000},{"time":"2019-12-30","value":1921611000},{"time":"2020-12-30","value":2368182000},{"time":"2021-12-30","value":2010141000},{"time":"2022-12-30","value":1907778000},{"time":"2023-12-30","value":1856215000}],"Stockholders Equity":[{"time":"2015-12-30","value":127250000},{"time":"2016-12-30","value":162613000},{"time":"2017-12-30","value":1003094000},{"time":"2018-12-30","value":1321987000},{"time":"2019-12-30","value":1323552000},{"time":"2020-12-30","value":1282857000},{"time":"2021-12-30","value":1145527000},{"time":"2022-12-30","value":1051378000},{"time":"2023-12-30","value":1044508000}],"ROE":[{"time":"2015-12-30","value":-0.010412573673870334},{"time":"2016-12-30","value":0.0807315528278797},{"time":"2017-12-30","value":-0.10279993699493767},{"time":"2018-12-30","value":0.05848620296568726},{"time":"2019-12-30","value":0.026314795338603997},{"time":"2020-12-30","value":-0.004897662015329846},{"time":"2021-12-30","value":-0.062310185617624025},{"time":"2022-12-30","value":-0.1221729958207229},{"time":"2023-12-30","value":-0.03919548725332884}],"ROA":[{"time":"2016-12-30","value":0.08140986812941388},{"time":"2017-12-30","value":-0.10078022875260179},{"time":"2018-12-30","value":0.03872951012346608},{"time":"2019-12-30","value":0.020110730007269942},{"time":"2020-12-30","value":-0.002688982519080037},{"time":"2021-12-30","value":-0.03806349902817763},{"time":"2022-12-30","value":-0.06620529223001838},{"time":"2023-12-30","value":-0.01427528599865856}]}

Angi Inc. connects home service professionals with consumers in the United States and internationally. The company's Ads and Leads, which connects consumers with service professionals for local services through nationwide online directory of service professionals in various service categories; provides consumers with valuable tools, services, and content, including verified reviews, to help them research, shop, and hire for local services; and sells term-based website, and mobile and digital magazine advertising to service professionals, as well as quoting, invoicing, and payment services. The company also owns and operates Leads digital marketplace service that connects consumers with professionals for home repair, maintenance, and improvement projects; offers consumers with tools and resources to find local, pre-screened, and customer-rated service professionals, as well as book appointments online, connect with service professionals. In addition, it operates Handy, a platform for household services; Angi Roofing, which provides roof replacement and repair services; and home services marketplaces under the Travaux, MyHammer, Werkspot, MyBuilder, and Travaux.com brands. The company was formerly known as ANGI Homeservices Inc. and changed its name to Angi Inc. in March 2021. The company was incorporated in 2017 and is headquartered in Denver, Colorado. Angi Inc. is a subsidiary of IAC/InterActiveCorp.

Sector

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10-Q
3/31/18
10-K
12/31/17

DCF

Discounted Cash Flow Valuation of Angi Inc.

Calculate

Growth Years

Growth

Start

End

Discount

Start

End

Multiple

g\r	+10%	+11%	+12%	+13%	+14%
0%	10	9	8	8	7
+1%	11	10	9	8	8
+2%	13	11	10	9	8
+3%	14	13	11	10	9
+4%	17	14	12	11	10

Years	0	1	2	3	4	5	6	7	8	9	10	TV
FCF	$46.59M	$47.58M	$48.59M	$49.63M	$50.68M	$51.76M	$52.86M	$53.98M	$55.13M	$56.3M	$57.5M	$575M
DCF		$41.38M	$36.74M	$32.63M	$28.98M	$25.73M	$22.85M	$20.29M	$18.02M	$16M	$14.21M	$142.1M
Value	$399M

Chart P/E ratio

In the chart Earnings are multiplied by this value.

Earnings Growth -21%

Earnings Stability -77%

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

The Net Margin is too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Over time the ROA has been decreasing indicating a lower marginal ROA with respect to the calculated one, this could impede growth.

Years	12-2015	12-2016	12-2017	12-2018	12-2019	12-2020	12-2021	12-2022	12-2023	TTM
Net Margin	-0.37%	2.6%	-14%	6.8%	2.6%	-0.43%	-4.2%	-6.8%	-3%	-2.1%
ROA	-	8.1%	-10%	3.9%	2%	-0.27%	-3.8%	-6.6%	-1.4%	-0.73%
ROE	-1%	8.1%	-10%	5.8%	2.6%	-0.49%	-6.2%	-12%	-3.9%	-2.6%

What is the average Net Margin?

The average Net Margin over the past 5 years is -0.84%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is -2.32%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is -1.04%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is -1.6%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is -2.4%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is -2.83%.

Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

The company has high debt with respect to the cashflow it generates.

The Graham’s stability indicate a relevant drawdown, consider checking when it has occured and why.

Years	12-2015	12-2016	12-2017	12-2018	12-2019	12-2020	12-2021	12-2022	12-2023	TTM
Debt FCF	-	0.00	19.27	1.56	1.80	5.30	-10.96	-7.15	10.69	10.65
Debt Equity	-	0.00	0.29	0.21	0.20	0.56	0.44	0.48	0.47	0.48
MIN
Graham Stability	-	-	-	-	-	-210%	-200%	-	-	-210%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 10.65.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is 0.07.

What is the Graham’s Stability?

Graham’s Stability measure stands at -2.09.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Data are missing

Years	12-2016	12-2018	12-2020	12-2022	Trend
Revenue	15%	3.7%	-2.5%	-28%	-9.1%
Net Income	-	-	-	-	-
Stockholders Equity	30%	-4.6%	-6.6%	-0.65%	-35%
FCF	5.8%	-23%	-30%	-	-59%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +3.71%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is -9.1%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is -.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is -4.6%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is -35.18%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is -23.47%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -58.84%.