Prestige Consumer Healthcare Inc.

PBH

Pharmaceutical Preparations

Mkt Cap

$3.142B

PE

15.01

Debt

$1.135B

Cash

$46.47M

EV

$4.23B

FCF

$239.4M

Market Cap

$3.142B

P/E Ratio

15.01

Debt

$1.135B

Cash

$46.47M

EV

$4.23B

FCF

$239.4M

Charts data: {"Earnings":[{"time":"2015-03-30","value":78260000},{"time":"2016-03-30","value":99907000},{"time":"2017-03-30","value":69395000},{"time":"2018-03-30","value":339570000},{"time":"2019-03-30","value":-35800000},{"time":"2020-03-30","value":142281000},{"time":"2021-03-30","value":164682000},{"time":"2022-03-30","value":205381000},{"time":"2023-03-30","value":-82306000},{"time":"2024-03-30","value":209339000}],"Sales":[{"time":"2015-03-30","value":713457000},{"time":"2016-03-30","value":806247000},{"time":"2017-03-30","value":882060000},{"time":"2018-03-30","value":1041179000},{"time":"2019-03-30","value":975777000},{"time":"2020-03-30","value":963010000},{"time":"2021-03-30","value":943365000},{"time":"2022-03-30","value":1086812000},{"time":"2023-03-30","value":1127725000},{"time":"2024-03-30","value":1125357000}],"Net Margins":[{"time":"2015-03-30","value":0.1096912638042657},{"time":"2016-03-30","value":0.12391611999796588},{"time":"2017-03-30","value":0.07867378636373942},{"time":"2018-03-30","value":0.32613988564886537},{"time":"2019-03-30","value":-0.03668871063777892},{"time":"2020-03-30","value":0.14774612932368303},{"time":"2021-03-30","value":0.17456869822391122},{"time":"2022-03-30","value":0.188975646201919},{"time":"2023-03-30","value":-0.0729841051674832},{"time":"2024-03-30","value":0.1860200807388233}],"Assets":[{"time":"2015-03-30","value":2669405000},{"time":"2016-03-30","value":2948791000},{"time":"2017-03-30","value":3911348000},{"time":"2018-03-30","value":3760612000},{"time":"2019-03-30","value":3441036000},{"time":"2020-03-30","value":3513905000},{"time":"2021-03-30","value":3429273000},{"time":"2022-03-30","value":3670681000},{"time":"2023-03-30","value":3353729000},{"time":"2024-03-30","value":3318417000}],"Stockholders Equity":[{"time":"2015-03-30","value":627624000},{"time":"2016-03-30","value":744336000},{"time":"2017-03-30","value":822549000},{"time":"2018-03-30","value":1178610000},{"time":"2019-03-30","value":1095831000},{"time":"2020-03-30","value":1170971000},{"time":"2021-03-30","value":1358298000},{"time":"2022-03-30","value":1577611000},{"time":"2023-03-30","value":1447084000},{"time":"2024-03-30","value":1655084000}],"ROE":[{"time":"2015-03-30","value":0.12469249104559418},{"time":"2016-03-30","value":0.13422298531845833},{"time":"2017-03-30","value":0.08436579462135387},{"time":"2018-03-30","value":0.28811057092676967},{"time":"2019-03-30","value":-0.03266927108285858},{"time":"2020-03-30","value":0.12150685200572858},{"time":"2021-03-30","value":0.12124143597354925},{"time":"2022-03-30","value":0.1301848174233065},{"time":"2023-03-30","value":-0.05687714051153907},{"time":"2024-03-30","value":0.1264824021016456}],"ROA":[{"time":"2015-03-30","value":0.07775478055971274},{"time":"2016-03-30","value":0.08827855212526083},{"time":"2017-03-30","value":0.052568321714150726},{"time":"2018-03-30","value":0.057401827149410785},{"time":"2019-03-30","value":0.01961705718859088},{"time":"2020-03-30","value":0.08285796001883944},{"time":"2021-03-30","value":0.08672450399836934},{"time":"2022-03-30","value":0.08987950737206529},{"time":"2023-03-30","value":-0.006683605025927855},{"time":"2024-03-30","value":0.1031904670208717}]}

Prestige Consumer Healthcare Inc., together with its subsidiaries, develops, manufactures, markets, distributes, and sells over-the-counter (OTC) health and personal care products in the United States and internationally. The company operates in two segments, North American OTC Healthcare and International OTC Healthcare. It offers BC/Goody's analgesic powders, Boudreaux's Butt Paste baby ointments, Chloraseptic sore throat liquids and lozenges, Clear Eyes for eye redness relief, Compound W wart removals, DenTek for PEG oral care, Debrox ear wax removals, and Dramamine for motion sickness relief. The company also provides Fleet adult enemas/suppositories, Gaviscon upset stomach remedies, Luden's cough drops, Monistat vaginal anti-fungal, Nix lice/parasite treatments, Summer's Eve feminine hygiene, TheraTears dry eye relief, Fess nasal saline spray and washes, and Hydralyte for oral rehydration products. It sells its products through mass merchandisers; and drug, food, dollar, convenience, and club stores, as well as e-commerce channels. The company was formerly known as Prestige Brands Holdings, Inc. and changed its name to Prestige Consumer Healthcare Inc. in August 2018. Prestige Consumer Healthcare Inc. was founded in 1996 and is headquartered in Tarrytown, New York.

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

DCF

Discounted Cash Flow Valuation of Prestige Consumer Healthcare 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	$239.4M	$250.9M	$262.9M	$275.5M	$288.8M	$302.6M	$317.1M	$332.4M	$348.3M	$365M	$382.6M	$3.826B
DCF		$218.1M	$198.8M	$181.2M	$165.1M	$150.5M	$137.1M	$124.9M	$113.9M	$103.8M	$94.56M	$945.6M
Value	$2.434B

Chart P/E ratio

In the chart Earnings are multiplied by this value.

Earnings Growth 11%

Earnings Stability 2.9%

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 high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Over time the ROA has been increasing indicating a higher marginal ROA with respect to the calculated one, giving a good sign for continued growth.

Years	03-2016	03-2017	03-2018	03-2019	03-2020	03-2021	03-2022	03-2023	03-2024	TTM
Net Margin	12%	7.9%	33%	-3.7%	15%	17%	19%	-7.3%	19%	19%
ROA	8.8%	5.3%	5.7%	2%	8.3%	8.7%	9%	-0.67%	10%	10%
ROE	13%	8.4%	29%	-3.3%	12%	12%	13%	-5.7%	13%	13%

What is the average Net Margin?

The average Net Margin over the past 5 years is +9.79%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is +1.33%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +6.26%.

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

The trend of ROA over the past 5 years is +0.44%.

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 +0.77%.

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	03-2016	03-2017	03-2018	03-2019	03-2020	03-2021	03-2022	03-2023	03-2024	TTM
Debt FCF	9.68	15.35	10.19	10.14	8.61	7.01	5.97	6.13	4.74	4.74
Debt Equity	2.22	2.70	1.71	1.65	1.49	1.10	0.95	0.94	0.69	0.69
MIN
Graham Stability	-	-	100%	-21%	100%	100%	100%	-48%	100%	-48%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 4.74.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is -1.01.

What is the Graham’s Stability?

Graham’s Stability measure stands at -0.48.

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	03-2017	03-2019	03-2021	03-2023	Trend
Revenue	3.5%	2.9%	6.1%	-0.21%	-1.2%
Net Income	17%	-	8.3%	-	-8.2%
Stockholders Equity	11%	8.6%	6.8%	14%	-1.7%
FCF	7.4%	6%	3.9%	7.9%	-0.59%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +2.89%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is -1.19%.

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 -8.22%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +8.6%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is -1.74%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +6.01%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -0.59%.