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Exponent Inc

EXPO

Services-Management Consulting Services

Mkt Cap

$4.013B

PE

39.99

Debt

-

Cash

$187.2M

EV

-

FCF

$111M

Market Cap

$4.013B

P/E Ratio

39.99

Debt

-

Cash

$187.2M

EV

-

FCF

$111M
Charts data: {"Earnings":[{"time":"2015-01-01","value":40701000},{"time":"2015-12-31","value":43599000},{"time":"2016-12-29","value":47480000},{"time":"2017-12-28","value":41305000},{"time":"2018-12-27","value":72254000},{"time":"2020-01-02","value":82460000},{"time":"2020-12-31","value":82552000},{"time":"2021-12-30","value":101202000},{"time":"2022-12-29","value":102330000},{"time":"2023-12-28","value":100339000}],"Sales":[{"time":"2015-01-01","value":304704000},{"time":"2015-12-31","value":312832000},{"time":"2016-12-29","value":315076000},{"time":"2017-12-28","value":347799000},{"time":"2018-12-27","value":379523000},{"time":"2020-01-02","value":417199000},{"time":"2020-12-31","value":399900000},{"time":"2021-12-30","value":466269000},{"time":"2022-12-29","value":513293000},{"time":"2023-12-28","value":536766000}],"Net Margins":[{"time":"2015-01-01","value":0.13357553560176433},{"time":"2015-12-31","value":0.13936873465630115},{"time":"2016-12-29","value":0.15069380086074471},{"time":"2017-12-28","value":0.11876112352249431},{"time":"2018-12-27","value":0.1903810836233904},{"time":"2020-01-02","value":0.19765148046855338},{"time":"2020-12-31","value":0.20643160790197548},{"time":"2021-12-30","value":0.2170463830964529},{"time":"2022-12-29","value":0.19935981982999962},{"time":"2023-12-28","value":0.1869324808203202}],"Assets":[{"time":"2015-01-01","value":365299000},{"time":"2015-12-31","value":387507000},{"time":"2016-12-29","value":403744000},{"time":"2017-12-28","value":439589000},{"time":"2018-12-27","value":468936000},{"time":"2020-01-02","value":563411000},{"time":"2020-12-31","value":580096000},{"time":"2021-12-30","value":683739000},{"time":"2022-12-29","value":586662000},{"time":"2023-12-28","value":646777000}],"Stockholders Equity":[{"time":"2015-01-01","value":244288000},{"time":"2015-12-31","value":262804000},{"time":"2016-12-29","value":273346000},{"time":"2017-12-28","value":289088000},{"time":"2018-12-27","value":313909000},{"time":"2020-01-02","value":350251000},{"time":"2020-12-31","value":361498000},{"time":"2021-12-30","value":417065000},{"time":"2022-12-29","value":320752000},{"time":"2023-12-28","value":356085000}],"ROE":[{"time":"2015-01-01","value":0.16661072177102437},{"time":"2015-12-31","value":0.1658993013804965},{"time":"2016-12-29","value":0.17369926759491633},{"time":"2017-12-28","value":0.14288036860748285},{"time":"2018-12-27","value":0.23017498701853084},{"time":"2020-01-02","value":0.23543116222366245},{"time":"2020-12-31","value":0.22836087613209477},{"time":"2021-12-30","value":0.24265282390035126},{"time":"2022-12-29","value":0.3190315259141019},{"time":"2023-12-28","value":0.2817838437451732}],"ROA":[{"time":"2015-01-01","value":0.1739643415393965},{"time":"2015-12-31","value":0.17788839943536505},{"time":"2016-12-29","value":0.15334221685028138},{"time":"2017-12-28","value":0.18769577946672916},{"time":"2018-12-27","value":0.1989973045362267},{"time":"2020-01-02","value":0.1849271668462277},{"time":"2020-12-31","value":0.1671033759929391},{"time":"2021-12-30","value":0.1840424489461622},{"time":"2022-12-29","value":0.24007350058466373},{"time":"2023-12-28","value":0.21011260449892313}]}

Exponent, Inc., together with its subsidiaries, operates as a science and engineering consulting company in the United States and internationally. The company operates in two segments, Engineering and Other Scientific, and Environmental and Health. The Engineering and Other Scientific segment provides services in the areas of biomechanics, biomedical engineering and sciences, buildings and structures, civil engineering, construction consulting, data sciences, electrical engineering and computer science, human factors, materials and corrosion engineering, mechanical engineering, polymer science and materials chemistry, thermal sciences, and vehicle engineering. The Environmental and Health segment offers services in the areas of chemical regulation and food safety, ecological and biological sciences, environmental and earth sciences, and health sciences. The company offers approximately 90 technical disciplines to solve pressing and complicated challenges facing stakeholders. It serves clients in chemical, construction, consumer products, energy, food, beverage and nutrition, government, life sciences, insurance, manufacturing, technology, industrial equipment, transportation, and other sectors of the economy. The company was formerly known as The Failure Group, Inc. and changed its name to Exponent, Inc. in 1998. Exponent, Inc. was founded in 1967 and is headquartered in Menlo Park, California.

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Growth

%

%

Discount

%

%

Multiple

g\r+10%+11%+12%+13%+14%
0%109887
+1%1110988
+2%13111098
+3%141311109
+4%1714121110
Years012345678910TV
FCF$111M$122.3M$134M$146.1M$158.5M$170.9M$183.4M$195.7M$207.8M$219.4M$230.3M$2.303B
DCF$106.3M$101.3M$96.07M$90.6M$84.99M$79.3M$73.59M$67.93M$62.36M$56.94M$569.4M
Value$1.389B

In the chart Earnings are multiplied by this value.

Earnings Growth 13%
Earnings Stability 89%


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.

Years12-201512-201612-201712-201801-202012-202012-202112-202212-2023TTM
Net Margin14%15%12%19%20%21%22%20%19%19%
ROA18%15%19%20%18%17%18%24%21%21%
ROE17%17%14%23%24%23%24%32%28%28%

What is the average Net Margin?

The average Net Margin over the past 5 years is +19.96%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is 0%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +19.75%.

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

The trend of ROA over the past 5 years is +0.68%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +25.62%.

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

The trend of ROE over the past 5 years is +1.49%.


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.

Years12-201512-201612-201712-201801-202012-202012-202112-202212-2023TTM
Debt FCF----------
Debt Equity----------
MIN
Graham Stability--94%100%100%100%100%100%100%94%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is -.

What is the trend of Debt/FCF?

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

What is the Graham’s Stability?

Graham’s Stability measure stands at 0.94.


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.

Years12-201612-201812-202012-2022Trend
Revenue7.9%7.2%10%4.6%0.58%
Net Income11%6.8%6.7%-1.9%-1.1%
Stockholders Equity3.8%2.6%-0.5%11%-0.9%
FCF11%8.2%4.1%36%-0.79%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +7.18%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is +0.58%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is +6.79%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -1.05%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +2.55%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is -0.9%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +8.19%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -0.79%.