Nv5 Global, Inc.

NVEE

Services-Miscellaneous Business Services

Mkt Cap

$1.447B

PE

37.03

Debt

$256.5M

Cash

$44.77M

EV

$1.659B

FCF

$55.75M

Market Cap

$1.447B

P/E Ratio

37.03

Debt

$256.5M

Cash

$44.77M

EV

$1.659B

FCF

$55.75M

Charts data: {"Earnings":[{"time":"2014-12-30","value":4893000},{"time":"2015-12-30","value":8492000},{"time":"2016-12-30","value":11607000},{"time":"2017-12-29","value":24006000},{"time":"2018-12-28","value":26856000},{"time":"2019-12-27","value":23756000},{"time":"2021-01-01","value":21018000},{"time":"2021-12-31","value":47147000},{"time":"2022-12-30","value":49973000},{"time":"2023-12-29","value":44613000}],"Sales":[{"time":"2016-12-30","value":223910000},{"time":"2017-12-29","value":333034000},{"time":"2018-12-28","value":418081000},{"time":"2019-12-27","value":508938000},{"time":"2021-01-01","value":659296000},{"time":"2021-12-31","value":706706000},{"time":"2022-12-30","value":786778000},{"time":"2023-12-29","value":861739000}],"Net Margins":[{"time":"2016-12-30","value":0.05183779196998794},{"time":"2017-12-29","value":0.07208273029180204},{"time":"2018-12-28","value":0.06423635611281067},{"time":"2019-12-27","value":0.046677591376552745},{"time":"2021-01-01","value":0.03187945930204339},{"time":"2021-12-31","value":0.0667137395182721},{"time":"2022-12-30","value":0.06351601086964812},{"time":"2023-12-29","value":0.05177089582808716}],"Assets":[{"time":"2014-12-30","value":55390000},{"time":"2015-12-30","value":111769000},{"time":"2016-12-30","value":223659000},{"time":"2017-12-29","value":305780000},{"time":"2018-12-28","value":439421000},{"time":"2019-12-27","value":893137000},{"time":"2021-01-01","value":881175000},{"time":"2021-12-31","value":961943000},{"time":"2022-12-30","value":935723000},{"time":"2023-12-29","value":1170592000}],"Stockholders Equity":[{"time":"2014-12-30","value":35605000},{"time":"2015-12-30","value":80763000},{"time":"2016-12-30","value":148161000},{"time":"2017-12-29","value":180097000},{"time":"2018-12-28","value":317542000},{"time":"2019-12-27","value":355963000},{"time":"2021-01-01","value":394069000},{"time":"2021-12-31","value":624720000},{"time":"2022-12-30","value":694240000},{"time":"2023-12-29","value":775795000}],"ROE":[{"time":"2014-12-30","value":0.13742451902822636},{"time":"2015-12-30","value":0.10514715897131112},{"time":"2016-12-30","value":0.07834045396561848},{"time":"2017-12-29","value":0.13329483556083666},{"time":"2018-12-28","value":0.08457463894539935},{"time":"2019-12-27","value":0.06673727325592828},{"time":"2021-01-01","value":0.0533358371249705},{"time":"2021-12-31","value":0.0754690101165322},{"time":"2022-12-30","value":0.07198231159253284},{"time":"2023-12-29","value":0.05750617108901192}],"ROA":[{"time":"2014-12-30","value":0.14387073478967322},{"time":"2015-12-30","value":0.12066852168311427},{"time":"2016-12-30","value":0.08113243822068417},{"time":"2017-12-29","value":0.08055791745699523},{"time":"2018-12-28","value":0.07673506728171844},{"time":"2019-12-27","value":0.032393686522896266},{"time":"2021-01-01","value":0.032874287173376454},{"time":"2021-12-31","value":0.0645620374596},{"time":"2022-12-30","value":0.06665861585105849},{"time":"2023-12-29","value":0.04118428965856592}]}

NV5 Global offers professional and technical engineering and consulting solutions to public and private sector clients in the infrastructure, utility services, construction, real estate, and environmental markets in the United States and internationally. It operates through three segments: Infrastructure; Building, Technology & Sciences; and Geospatial Solutions. The company offers site selection and planning, design, water resources, structural engineering, land development, surveying, power delivery, building code compliance, and other services. Further, it is engaged in construction of highways, bridges and tunnels; development of rail and light rail systems; provision of services related to street and roadway construction; and construction materials testing and engineering, geotechnical engineering and consulting, and forensic consulting services. The company also provides governmental outsourcing and consulting, and technical outsourcing services; and geospatial data analytic and mapping services. In addition, it offers mechanical, electrical, and plumbing design; commissioning; energy performance, management, and optimization; climate change and reducing CO2 emissions; building program management; acoustical design consulting; and audiovisualsecurity and surveillanceinformation technologydata center services. Further, the company provides various services, such as investigating and analyzing environmental conditions, and recommending corrective measures and procedures; occupational health and safety services; radiation exposure and protection, and nuclear safety and industrial hygiene analyses services; hydrogeological modeling and environmental programs. The company was formerly known as NV5 Holdings, Inc. and changed its name to NV5 Global, Inc. in December 2015. NV5 Global, Inc. was founded in 1949 and is headquartered in Hollywood, Florida.

Sector

DFIN

10-Q
9/30/23
10-Q
7/1/23
10-Q
4/1/23
10-K
12/31/22
10-Q
10/1/22
10-Q
7/2/22
10-Q
4/2/22
10-K
1/1/22
10-Q
10/2/21
10-Q
7/3/21
10-Q
4/3/21
10-K
1/2/21
10-Q
10/3/20
10-Q
6/27/20
10-Q
3/28/20
10-K
12/28/19
10-Q
9/28/19
10-Q
6/29/19
10-Q
3/30/19
10-K
12/29/18
10-Q
9/29/18
10-Q
6/30/18
10-Q
3/31/18
10-K
12/30/17

DCF

Discounted Cash Flow Valuation of Nv5 Global, 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	$55.75M	$72.48M	$92.2M	$114.7M	$139.6M	$166M	$192.7M	$218.4M	$241.5M	$260.2M	$273.3M	$2.733B
DCF		$63.02M	$69.72M	$75.45M	$79.82M	$82.52M	$83.32M	$82.11M	$78.93M	$73.98M	$67.54M	$675.4M
Value	$1.432B

Chart P/E ratio

In the chart Earnings are multiplied by this value.

Earnings Growth 23%

Earnings Stability 80%

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	01-2021	12-2021	12-2022	12-2023	TTM
Net Margin	-	5.2%	7.2%	6.4%	4.7%	3.2%	6.7%	6.4%	5.2%	4.4%
ROA	12%	8.1%	8.1%	7.7%	3.2%	3.3%	6.5%	6.7%	4.1%	3.4%
ROE	11%	7.8%	13%	8.5%	6.7%	5.3%	7.5%	7.2%	5.8%	5%

What is the average Net Margin?

The average Net Margin over the past 5 years is +5.41%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is +0.07%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +5.24%.

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

The trend of ROA over the past 5 years is -0.12%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +6.83%.

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

The trend of ROE over the past 5 years is -0.28%.

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 reliability of earnings, and consideration about the future are more dependable.

Years	12-2015	12-2016	12-2017	12-2018	12-2019	01-2021	12-2021	12-2022	12-2023	TTM
Debt FCF	2.80	3.03	5.18	1.96	10.40	3.89	1.78	0.93	5.02	4.60
Debt Equity	0.19	0.29	0.44	0.20	1.09	0.85	0.25	0.10	0.29	0.33
MIN
Graham Stability	-	-	100%	100%	100%	85%	100%	100%	100%	85%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 4.60.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is -0.43.

What is the Graham’s Stability?

Graham’s Stability measure stands at 0.85.

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.

Earnings growth has not been increasing in the past years.

Years	12-2016	12-2018	01-2021	12-2022	Trend
Revenue	21%	16%	9.3%	9.5%	-5.7%
Net Income	21%	11%	29%	-11%	-7%
Stockholders Equity	27%	20%	25%	12%	-11%
FCF	18%	6.6%	-19%	-42%	-65%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +15.56%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is -5.73%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is +10.68%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -6.96%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +19.56%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is -11.15%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +6.55%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -65.04%.