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The Shyft Group, Inc. engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries. This segment markets its commercial vehicles, including walk-in vans, cutaway vans, and truck bodies under the Aeromaster, Velocity, Trademaster, and Utilivan brands; and vocation-specific equipment upfit services under the Utilimaster Upfit Services and Strobes-R-Us brands. It also installs specialty interior and exterior up-fit equipment for walk-in vans, truck bodies, cargo vans, and light duty pick-up trucks; and provides aftermarket support, including parts sales and field services, as well as parts and accessories. The Specialty Vehicles segment provides diesel motor home chassis; and truck bodies under the Royal Truck Body and DuraMag brands. The segment also provides final assembly services for Isuzu N-gas and F-series chassis under the Builtmore Contract Manufacturing brand; and designs and installs custom lighting and upfit solutions for a range of specialty industries. In addition, this segment provides truck accessories under the Magnum brand; and a range of parts and accessories, and maintenance and repair services for its motorhome and specialty chassis. It sells its products to commercial users, original equipment manufacturers, dealers, individuals, municipalities, and other government entities. The company was formerly known as Spartan Motors, Inc. and changed its name to The Shyft Group, Inc. in June 2020. The Shyft Group, Inc. was incorporated in 1975 and is headquartered in Novi, Michigan.
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| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | 43.93M | 84.48M | 48.16M | 47.15M | 17.27M |
| Minority interest | 0.00M | 1.23M | -0.17M | -0.52M | -0.66M |
| Net income | 36.56M | 68.74M | 32.82M | 36.79M | 15.01M |
| Selling general administrative | 107.60M | 106.67M | 93.07M | 64.47M | 73.38M |
| Gross profit | 180.43M | 199.26M | 146.28M | 117.03M | 98.25M |
| Reconciled depreciation | 14.77M | 11.36M | 14.19M | 11.18M | 10.37M |
| Ebit | 47.51M | 84.05M | 35.26M | 37.88M | 9.41M |
| Ebitda | 61.53M | 96.25M | 49.45M | 49.06M | 19.78M |
| Depreciation and amortization | 14.02M | 12.20M | 14.19M | 11.18M | 10.37M |
| Non operating income net other | -0.75M | 0.84M | 0.60M | - | - |
| Operating income | 47.51M | 84.05M | 35.26M | 37.88M | 16.11M |
| Other operating expenses | 979.65M | 907.74M | 627.12M | 708.85M | 798.62M |
| Interest expense | 2.83M | 0.41M | 1.29M | 1.84M | 1.08M |
| Tax provision | 7.37M | 14.51M | 9.87M | 10.36M | 2.26M |
| Interest income | - | 0.84M | 0.60M | 1.37M | 2.24M |
| Net interest income | -2.83M | 0.43M | -0.69M | -0.47M | 1.16M |
| Extraordinary items | - | - | - | -49.22M | -3.10M |
| Income tax expense | 7.37M | 14.51M | 9.87M | 10.36M | 2.26M |
| Total revenue | 1027.16M | 991.79M | 675.97M | 756.54M | 816.16M |
| Total operating expenses | 132.92M | 115.21M | 97.43M | 69.34M | 80.71M |
| Cost of revenue | 846.73M | 792.53M | 529.70M | 639.51M | 717.91M |
| Total other income expense net | -3.58M | 0.43M | 12.89M | 9.27M | -1.43M |
| Discontinued operations | - | 0.18M | -5.12M | -49.22M | -3.10M |
| Net income from continuing ops | 36.56M | 69.97M | 38.29M | 36.79M | 15.01M |
| Net income applicable to common shares | 36.56M | 68.92M | 32.82M | -12.57M | 15.01M |
| Breakdown | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 530.05M | 580.48M | 447.87M | 359.05M | 450.54M |
| Intangible assets | 45.27M | 49.08M | 52.98M | 56.39M | 54.06M |
| Other current assets | 7.46M | 11.78M | 10.81M | 8.17M | 5.34M |
| Total liab | 277.88M | 311.79M | 181.01M | 158.89M | 278.79M |
| Total stockholder equity | 252.17M | 268.59M | 266.75M | 200.33M | 172.26M |
| Other current liab | 32.72M | 41.05M | 34.30M | 30.89M | 87.10M |
| Common stock | 93.70M | 92.98M | 95.38M | 91.04M | 0.35M |
| Capital stock | 93.70M | 92.98M | 95.38M | 91.04M | 0.35M |
| Retained earnings | 158.46M | 175.61M | 171.38M | 109.29M | 86.76M |
| Other liab | - | 10.03M | 8.11M | 5.45M | 4.92M |
| Good will | 48.88M | 48.88M | 48.88M | 49.48M | 43.63M |
| Other assets | - | 12.62M | 7.81M | 51.24M | 27.82M |
| Cash | 9.96M | 11.55M | 37.16M | 21.00M | 19.35M |
| Total current liabilities | 182.83M | 201.23M | 135.84M | 93.36M | 157.96M |
| Current deferred revenue | 4.76M | 5.25M | 0.99M | 0.76M | 2.64M |
| Net debt | 122.41M | 119.59M | 18.02M | 53.32M | 110.06M |
| Short term debt | 45.50M | 30.62M | 18.11M | 14.23M | 13.50M |
| Short long term debt | 34.68M | 19.73M | 10.18M | 6.72M | 8.34M |
| Short long term debt total | 132.37M | 131.14M | 55.18M | 74.31M | 129.41M |
| Other stockholder equity | - | - | 0.10M | - | 85.15M |
| Property plant equipment | - | 70.75M | 104.37M | 89.16M | 72.22M |
| Total current assets | 286.93M | 345.77M | 233.83M | 156.21M | 252.81M |
| Net tangible assets | - | 219.51M | 164.89M | 94.46M | 74.57M |
| Net receivables | 164.37M | 222.28M | 118.67M | 80.61M | 77.93M |
| Long term debt | 50.14M | 56.27M | 0.74M | 23.42M | 88.67M |
| Inventory | 105.14M | 100.16M | 67.18M | 46.43M | 59.46M |
| Accounts payable | 99.86M | 124.31M | 82.44M | 47.49M | 54.71M |
| Noncontrolling interest in consolidated entity | - | 0.10M | 0.10M | -0.17M | - |
| Accumulated other comprehensive income | - | - | - | - | -67.43M |
| Common stock total equity | - | 92.98M | 95.38M | 91.04M | 0.35M |
| Retained earnings total equity | - | 175.61M | 171.38M | 109.29M | - |
| Non currrent assets other | 2.41M | 2.23M | 2.93M | 2.05M | 2.29M |
| Non current assets total | 243.12M | 234.71M | 214.04M | 202.84M | 197.73M |
| Capital lease obligations | 47.54M | 55.14M | 44.26M | 44.17M | 32.40M |
| Long term debt total | - | 56.27M | 0.74M | 23.42M | 88.67M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Investments | -20.42M | -22.08M | 14.92M | -98.97M | -14.19M |
| Change to liabilities | 36.67M | 34.95M | -10.67M | -20.40M | 35.30M |
| Total cashflows from investing activities | -20.42M | -22.08M | 14.92M | -98.97M | -14.19M |
| Net borrowings | 56.00M | -22.40M | -65.00M | 61.83M | 7.62M |
| Total cash from financing activities | 13.65M | -35.77M | -77.60M | 56.69M | 0.07M |
| Change to operating activities | 12.55M | 3.31M | -12.55M | 17.74M | -2.94M |
| Net income | 36.56M | 70.16M | 33.17M | -12.43M | 15.01M |
| Change in cash | -25.61M | 16.16M | 1.65M | -8.09M | -6.08M |
| Begin period cash flow | 37.16M | 21.00M | 19.35M | 27.44M | 33.52M |
| End period cash flow | 11.55M | 37.16M | 21.00M | 19.35M | 27.44M |
| Total cash from operating activities | -18.84M | 74.01M | 64.33M | 34.18M | 8.03M |
| Depreciation | 14.77M | 11.36M | 14.19M | 11.18M | 10.37M |
| Other cashflows from investing activities | 0.15M | 0.93M | 47.50M | 47.50M | 47.50M |
| Dividends paid | -7.15M | -3.55M | -3.56M | -3.57M | 3.52M |
| Change to inventory | -32.98M | -20.76M | 12.83M | -14.78M | -24.34M |
| Change to account receivables | -93.99M | -34.52M | -6.04M | 22.81M | -22.49M |
| Sale purchase of stock | -26.79M | -3.35M | -7.50M | -0.79M | -0.66M |
| Other cashflows from financing activities | 136.59M | -3.52M | 14.47M | 91.23M | -0.70M |
| Change to netincome | 2.94M | 10.74M | 37.09M | 45.42M | 6.74M |
| Capital expenditures | 20.56M | 23.00M | 14.53M | 10.04M | 8.98M |
| Cash flows other operating | -76.81M | -33.15M | - | - | - |
| Cash and cash equivalents changes | -25.61M | 16.16M | 1.65M | - | - |
| Change in working capital | -73.11M | -17.02M | -16.42M | -5.60M | -15.25M |
| Stock based compensation | 7.62M | 8.74M | 7.85M | 5.28M | 4.03M |
| Other non cash items | 0.83M | -0.11M | 5.76M | 53.97M | -5.37M |
| Free cash flow | -39.41M | 51.01M | 49.80M | 24.14M | -0.96M |
Sector: Industrials Industry: Farm & Heavy Construction Machinery
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| CAT Caterpillar Inc |
-5.28 0.88% |
596.34 | 42.55 | 34.84 | 5.54 | 17.47 | 6.00 | 28.37 |
| DE Deere & Company |
-1.13 0.16% |
690.62 | 33.11 | 33.44 | 3.39 | 6.11 | 4.70 | 18.67 |
| PCAR PACCAR Inc |
-0.29 0.27% |
107.84 | 25.84 | 16.50 | 2.32 | 3.18 | 2.54 | 19.47 |
| VLVLY Volvo AB ADR |
-0.31 0.96% |
32.11 | 12.06 | 12.84 | 0.10 | 3.05 | 0.13 | 0.83 |
The Shyft Group, Inc. engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries. This segment markets its commercial vehicles, including walk-in vans, cutaway vans, and truck bodies under the Aeromaster, Velocity, Trademaster, and Utilivan brands; and vocation-specific equipment upfit services under the Utilimaster Upfit Services and Strobes-R-Us brands. It also installs specialty interior and exterior up-fit equipment for walk-in vans, truck bodies, cargo vans, and light duty pick-up trucks; and provides aftermarket support, including parts sales and field services, as well as parts and accessories. The Specialty Vehicles segment provides diesel motor home chassis; and truck bodies under the Royal Truck Body and DuraMag brands. The segment also provides final assembly services for Isuzu N-gas and F-series chassis under the Builtmore Contract Manufacturing brand; and designs and installs custom lighting and upfit solutions for a range of specialty industries. In addition, this segment provides truck accessories under the Magnum brand; and a range of parts and accessories, and maintenance and repair services for its motorhome and specialty chassis. It sells its products to commercial users, original equipment manufacturers, dealers, individuals, municipalities, and other government entities. The company was formerly known as Spartan Motors, Inc. and changed its name to The Shyft Group, Inc. in June 2020. The Shyft Group, Inc. was incorporated in 1975 and is headquartered in Novi, Michigan.
| Name | Title | Year Born |
|---|---|---|
| Mr. Daryl M. Adams | Pres, CEO & Director | 1962 |
| Mr. Jonathan C. Douyard | Chief Financial Officer | 1980 |
| Mr. Todd A. Heavin | Chief Operating Officer | 1962 |
| Mr. Stephen K. Guillaume | Pres of Specialty Vehicles | 1968 |
| Mr. Andrew Anderson | Chief Information Officer | NA |
| Mr. Juris Pagrabs | Director of Investor Relations & Group Treasurer | 1956 |
| Mr. Joshua Alan Sherbin | Corp. Sec., Chief Legal Officer & Chief Compliance Officer | 1963 |
| Ms. Samara Hamilton | VP of Marketing & Communications | NA |
| Ms. Carrie Wright | Chief Marketing & Communications Officer | NA |
| Mr. Colin E. Hindman | Chief HR Officer | 1974 |
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