Ies Holdings, Inc.
IESC
Electrical Work
Mkt Cap
$3.482BPE
22.58Debt
$0Cash
$106MEV
$3.376BFCF
$128.2MP/E Ratio
22.58Debt
$0Cash
$106MEV
$3.376BFCF
$128.2MCharts data: {"Earnings":[{"time":"2014-09-29","value":5302000},{"time":"2015-09-29","value":16453000},{"time":"2016-09-29","value":119722000},{"time":"2017-09-29","value":13275000},{"time":"2018-09-29","value":-14157000},{"time":"2019-09-29","value":33206000},{"time":"2020-09-29","value":40554000},{"time":"2021-09-29","value":66658000},{"time":"2022-09-29","value":34762000},{"time":"2023-09-29","value":108288000}],"Sales":[{"time":"2014-09-29","value":512395000},{"time":"2015-09-29","value":573857000},{"time":"2016-09-29","value":695993000},{"time":"2017-09-29","value":810744000},{"time":"2018-09-29","value":876828000},{"time":"2019-09-29","value":1076996000},{"time":"2020-09-29","value":1190856000},{"time":"2021-09-29","value":1536493000},{"time":"2022-09-29","value":2166808000},{"time":"2023-09-29","value":2377227000}],"Net Margins":[{"time":"2014-09-29","value":0.010347485826364427},{"time":"2015-09-29","value":0.028670905817999956},{"time":"2016-09-29","value":0.17201609786305322},{"time":"2017-09-29","value":0.016373849205174505},{"time":"2018-09-29","value":-0.016145697901983058},{"time":"2019-09-29","value":0.03083205508655557},{"time":"2020-09-29","value":0.034054495253834215},{"time":"2021-09-29","value":0.04338321098761921},{"time":"2022-09-29","value":0.016042953505802083},{"time":"2023-09-29","value":0.0455522337580719}],"Assets":[{"time":"2014-09-29","value":201108000},{"time":"2015-09-29","value":226710000},{"time":"2016-09-29","value":394340000},{"time":"2017-09-29","value":424494000},{"time":"2018-09-29","value":421994000},{"time":"2019-09-29","value":445258000},{"time":"2020-09-29","value":560528000},{"time":"2021-09-29","value":766622000},{"time":"2022-09-29","value":934709000},{"time":"2023-09-29","value":981600000}],"Stockholders Equity":[{"time":"2014-09-29","value":87972000},{"time":"2015-09-29","value":101414000},{"time":"2016-09-29","value":223405000},{"time":"2017-09-29","value":236704000},{"time":"2018-09-29","value":220407000},{"time":"2019-09-29","value":246248000},{"time":"2020-09-29","value":283313000},{"time":"2021-09-29","value":345953000},{"time":"2022-09-29","value":361288000},{"time":"2023-09-29","value":449985000}],"ROE":[{"time":"2014-09-29","value":0.060269176556176966},{"time":"2015-09-29","value":0.16223598319758614},{"time":"2016-09-29","value":0.5358966898681766},{"time":"2017-09-29","value":0.05608270244693795},{"time":"2018-09-29","value":-0.0642311723311873},{"time":"2019-09-29","value":0.13484779571813782},{"time":"2020-09-29","value":0.14314203725208516},{"time":"2021-09-29","value":0.19267935239758002},{"time":"2022-09-29","value":0.09621686853701203},{"time":"2023-09-29","value":0.24064802160072002}],"ROA":[{"time":"2014-09-29","value":0.039003918292658674},{"time":"2015-09-29","value":0.08234308146971903},{"time":"2016-09-29","value":0.06350611147740529},{"time":"2017-09-29","value":0.04830928116769613},{"time":"2018-09-29","value":0.06230894278117698},{"time":"2019-09-29","value":0.09399045048039563},{"time":"2020-09-29","value":0.08934968458310735},{"time":"2021-09-29","value":0.11163650403980058},{"time":"2022-09-29","value":0.05992025325529122},{"time":"2023-09-29","value":0.16277098614506927}]}
IES Holdings, Inc. designs and installs integrated electrical and technology systems, and provides infrastructure products and services in the United States. Its Commercial & Industrial segment offers electrical and mechanical design, construction, and maintenance services for office buildings, manufacturing facilities, data centers, chemical plants, refineries, wind farms, solar facilities, municipal infrastructures, and health care facilities. Its Communications segment designs, installs, and maintains network infrastructure within data centers for co-location and managed hosting customers; corporate, educational, financial, hospitality, and healthcare buildings; e-commerce distribution centers; and high-tech manufacturing facilities. This segment also provides design and installation services for audio/visual, telephone, fire, and wireless access and intrusion alarm systems; and engages in designing/building, servicing, and maintaining data network systems. Its Infrastructure Solutions segment maintains and repairs alternating and direct current electric motors and generators, and power generating and distribution equipment; manufactures custom-engineered metal enclosed bus duct solutions used in power distribution; manufactures custom commercial and industrial generator enclosures; manufactures, re-manufactures, and repairs industrial lifting magnets; and maintains and repairs railroad main and auxiliary generators, main alternators, and traction motors. Its Residential segment offers electrical installations to single-family housing and multi-family apartments; and cable television installations to residential and light commercial applications, as well as installs residential solar power for new construction and existing residences. The company was formerly known as Integrated Electrical Services, Inc. and changed its name to IES Holdings, Inc. in May 2016. IES Holdings, Inc. was incorporated in 1997 and is headquartered in Houston, Texas.
DCF
Discounted Cash Flow Valuation of Ies Holdings, Inc.
Value
Growth
%
%
Discount
%
%
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 | $128.2M | $166.6M | $212M | $263.8M | $321M | $381.6M | $443.1M | $502.2M | $555.2M | $598.4M | $628.3M | $6.283B |
| DCF | $144.9M | $160.3M | $173.5M | $183.5M | $189.7M | $191.6M | $188.8M | $181.5M | $170.1M | $155.3M | $1.553B | |
| Value | $3.292B | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth 14%
Earnings Stability 17%
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.
| Years | 09-2015 | 09-2016 | 09-2017 | 09-2018 | 09-2019 | 09-2020 | 09-2021 | 09-2022 | 09-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 2.9% | 17% | 1.6% | -1.6% | 3.1% | 3.4% | 4.3% | 1.6% | 4.6% | 6% |
| ROA | 8.2% | 6.4% | 4.8% | 6.2% | 9.4% | 8.9% | 11% | 6% | 16% | 20% |
| ROE | 16% | 54% | 5.6% | -6.4% | 13% | 14% | 19% | 9.6% | 24% | 29% |
What is the average Net Margin?
The average Net Margin over the past 5 years is +2.56%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is +0.78%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is +9.67%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is +1.21%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is +12.39%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is +4.17%.
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.
| Years | 09-2015 | 09-2016 | 09-2017 | 09-2018 | 09-2019 | 09-2020 | 09-2021 | 09-2022 | 09-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | 1.17 | 1.40 | 1.66 | 3.86 | 0.01 | 0.00 | 1.30 | -6.28 | 0.00 | 0.00 |
| Debt Equity | 0.10 | 0.14 | 0.12 | 0.13 | 0.00 | 0.00 | 0.11 | 0.23 | 0.00 | 0.00 |
| MIN | ||||||||||
| Graham Stability | - | - | 28% | -28% | 84% | 100% | 100% | 74% | 100% | -28% |
What is the Debt/FCF?
The Debt/FCF trailing twelve month is 0.00.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is -1.05.
What is the Graham’s Stability?
Graham’s Stability measure stands at -0.28.
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.
| Years | 09-2016 | 09-2018 | 09-2020 | 09-2022 | Trend |
|---|---|---|---|---|---|
| Revenue | 19% | 22% | 26% | 9.7% | 1.3% |
| Net Income | -1.4% | - | 39% | 210% | -31% |
| Stockholders Equity | 11% | 15% | 17% | 25% | -4.3% |
| FCF | 30% | 78% | 24% | - | 6.1% |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is +22.08%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is +1.29%.
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 -31.19%.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is +15.34%.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is -4.27%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is +77.83%.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is +6.13%.