Koppers Holdings Inc.

Basic Materials
Forest Products
www.koppers.com

Earnings Score
Moat Score
Safety Score

Market Cap $484.28M
PE 10
Debt $954.00M
Cash $43.90M
EV $1.39B
FCF $42.00M

Earnings

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Sales & Net Margins

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Earnings	$48.60M
EBIT	$148.20M
ROE	10%
ROA	8%
FCF	$42.00M
Equity	$489.00M
Growth Stability	61%
PE	9.96
PEG	-1.41
PB	0.99
P/FCF	11.53
P/S	0.23
Price/Cash	0.09
Debt/Equity	1.95
Debt/FCF	22.71
Net Margins	2%
Gross Margins	20%
Op. Margins	7%
Earnings CAGR	16%
Sales Growth YoY	-7%
Sales Growth QoQ	-14%
Sales CAGR	5%
FCF CAGR	-1%
Equity CAGR	39%
Earnings Stability	0.36
Earnings Growth YoY	-179%
Earnings Growth QoQ	-154%
Earnings CAGR 5Y	-7%

Sales CAGR 5Y	7%
FCF CAGR 5Y	-6%
Equity CAGR 5Y	22%
Earnings CAGR 3Y	7%
Sales CAGR 3Y	7%
FCF CAGR 3Y	4%
Equity CAGR 3Y	13%
Market Cap	$484.28M
Revenue	$2.09B
Dividend Yield	1%
Payout Ratio	12%
Assets	$1.89B
Total Debt	$954.00M
Cash	$43.90M
Shares Outstanding	19.13M
EV	1.39B
Earnings Score	29%
Moat Score	79%
Safety Score	58%
Final Score	55%
Working Capital	354.8M
Current Ratio	2.09
Gross Profit	$422.60M
Shares Growth 3y	-2%
Equity Growth QoQ	-8%
Equity Growth YoY	-3%

Assets & ROA

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Stockholders Equity & ROE

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Koppers Holdings, through its subsidiaries, manufactures and sells wood products, wood treatment chemicals, and carbon compounds used in markets such as railroad, aluminum and steel, agriculture, utilities, and residential lumber. The company is organized into three business segments: railroad and utility products and services, performance chemicals, and carbon materials and chemicals. Its product portfolio includes treated and untreated wood products like crossties used in railroads, wood preservation chemicals, and carbon compounds such as creosote used in the treatment of wood crossties, among others. Most revenue comes from the company's railroad and utility products and services segment, and more than half of the company's revenue is earned in the United States.

SEC Filings

Direct access to Koppers Holdings Inc. (KOP) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Koppers Holdings Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Koppers Holdings Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 16%

Stability 36%

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Koppers Holdings Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Koppers Holdings Inc..

Years

Calculation mode

= $405M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$42M	$42M	$42M	$41M	$41M	$41M	$41M	$40M	$40M	$40M	$40M	$397M
DCF		$38M	$34M	$31M	$28M	$25M	$23M	$21M	$19M	$17M	$15M	$153M
Value	$405M

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	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	-5%	2%	2%	1%	4%	7%	5%	3%	4%	2%	2%
ROA	-	8%	9%	7%	8%	10%	9%	8%	11%	8%	8%
ROE	-	80%	28%	35%	42%	35%	21%	16%	18%	10%	10%

Bad Net Margins (2.32%)

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

Safety and Stability

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	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	10.25	20.41	-32.3	11.81	13.86	-35.96	-275.1	33.8	22.71	22.71
Debt over Equity	-62.48	20.63	6.62	15.14	5.81	2.3	1.93	2.05	1.72	1.95	1.95
Growth Stability	-	-	-	-	100%	100%	100%	70%	99%	61%	61%

Bad Debt/FCF ratio (22.71)

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

Bad Debt/Equity ratio (1.95)

The company is overleveraged and has a bad balance between equity and debt.

Bad Graham’s Stability (61%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

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	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	-13%	4%	16%	4%	-6%	1%	18%	9%	-3%	7%
Earnings YoY growth	-	-136%	5%	-20%	185%	82%	-30%	-26%	41%	-46%	-7%
Equity YoY growth	-	-379%	206%	-37%	137%	118%	19%	-2%	25%	-3%	22%
FCF YoY growth	-	-20%	-51%	-192%	-349%	-27%	-138%	-86%	-953%	64%	-6%