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Standard Motor Products, Inc. manufactures and distributes automotive parts that are used in the maintenance, repair, and service of vehicles in the automotive aftermarket industry in the United States and internationally. The company's Engine Management segment provides electronic ignition control modules, camshaft and crankshaft position sensors, ignition wires and coils, switches and relays, exhaust gas recirculation valves, pressure and temperature sensors, variable valve timing components, mass airflow and fuel pressure sensors, electronic throttle bodies, and diesel injectors and pumps; and anti-lock brake, vehicle speed, tire pressure monitoring, and park assist sensors. This segment offers its products under the Standard, Blue Streak, Intermotor, OEM, BWD select, techexpert, Locksmart, and pollak brands. Its Temperature Control segment provides components for the temperature control systems, engine cooling systems, power window accessories, and windshield washer systems of motor vehicles under the Four Seasons, ACI, Hayden, Factory Air, and Everco HD brands; also distribute our products to customers for resale under private labels with NAPA Echlin and Belden brands. Its products include air conditioning compressors and repair kits, clutch assemblies, blower and radiator fan motors, filter dryers, evaporators, accumulators, actuators, hose assemblies, thermal expansion devices, heater valves, heater cores, A/C service tools and chemicals, fan assemblies, fan clutches, oil coolers, window lift motors, window regulators and assemblies, and windshield washer pumps. The company serves primarily automotive aftermarket retailers, warehouse distributors, original equipment manufacturers, and original equipment service part manufactures. The company was founded in 1919 and is headquartered in Long Island City, New York.
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Standard Motor Products is a U.S.-based manufacturer and distributor of replacement automotive parts for engine management, temperature control and related systems, serving independent aftermarket and original equipment channels. Long-term growth may be supported by a large aging vehicle parc, product-line and geographic expansion and steady replacement demand, and the company appears positioned to benefit from scale and a broad SKU and distribution network. Investors may find the business attractive for its recurring aftermarket revenue and historically consistent cash generation.
Key investment risks include exposure to automotive cyclical trends, the shift to electric vehicles that could reduce parts per vehicle, margin pressure from intense aftermarket competition, and operational risks from commodity, foreign-exchange and supply-chain volatility.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| 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 | 98.33M | 130.47M | 107.38M | 91.80M | 76.83M |
| Minority interest | -0.08M | -0.07M | - | - | - |
| Net income | 55.35M | 90.89M | 80.42M | 57.92M | 43.00M |
| Selling general administrative | 276.63M | 247.55M | 224.67M | 234.72M | 231.34M |
| Gross profit | 382.54M | 376.93M | 336.65M | 331.80M | 312.79M |
| Reconciled depreciation | 28.30M | 27.24M | 26.32M | 25.81M | 24.10M |
| Ebit | 104.14M | 129.00M | 108.89M | 94.50M | 85.37M |
| Ebitda | 139.14M | 160.13M | 139.09M | 125.48M | 109.47M |
| Depreciation and amortization | 35.00M | 31.13M | 30.20M | 30.98M | 24.10M |
| Non operating income net other | 4.81M | 3.49M | 0.81M | 2.59M | -0.41M |
| Operating income | 104.14M | 129.00M | 108.89M | 94.50M | 81.27M |
| Other operating expenses | 1265.79M | 1169.42M | 1016.63M | 1040.83M | 1006.27M |
| Interest expense | 10.62M | 2.03M | 2.33M | 5.29M | 4.03M |
| Tax provision | 25.21M | 31.04M | 26.96M | 22.75M | 19.98M |
| Interest income | 0.21M | 2.03M | 0.11M | 0.10M | 0.08M |
| Net interest income | -10.41M | -2.03M | -2.33M | -5.19M | -3.95M |
| Extraordinary items | -17.69M | -8.47M | -23.02M | -11.13M | -13.85M |
| Non recurring | 1.89M | 0.39M | 3.06M | 2.58M | 4.51M |
| Income tax expense | 25.21M | 31.04M | 26.96M | 22.75M | 19.98M |
| Total revenue | 1371.82M | 1298.82M | 1128.59M | 1137.91M | 1092.05M |
| Total operating expenses | 276.51M | 247.54M | 224.70M | 234.72M | 227.01M |
| Cost of revenue | 989.28M | 921.88M | 791.93M | 806.11M | 779.26M |
| Total other income expense net | -5.80M | 1.47M | -1.52M | -2.70M | -4.92M |
| Discontinued operations | -17.69M | -8.47M | -23.02M | -11.13M | -13.85M |
| Net income from continuing ops | 73.13M | 99.42M | 80.42M | 69.05M | 56.85M |
| Net income applicable to common shares | 55.35M | 90.89M | 57.39M | 57.92M | 43.00M |
| 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 |
| Total assets | 1254.93M | 1197.96M | 956.54M | 912.73M | 843.13M |
| Intangible assets | 100.50M | 106.23M | 54.00M | 64.86M | 48.41M |
| Other current assets | 25.24M | 17.82M | 15.88M | 15.60M | 7.26M |
| Total liab | 633.89M | 585.33M | 406.30M | 408.50M | 375.93M |
| Total stockholder equity | 610.02M | 601.58M | 550.24M | 504.23M | 467.20M |
| Deferred long term liab | 1.60M | 0.21M | 0.43M | 0.66M | 0.88M |
| Other current liab | 145.19M | 210.79M | 192.45M | 91.54M | 80.47M |
| Common stock | 47.87M | 47.87M | 47.87M | 47.87M | 47.87M |
| Capital stock | 47.87M | 47.87M | 47.87M | 47.87M | 47.87M |
| Retained earnings | 564.24M | 532.32M | 463.61M | 417.44M | 380.11M |
| Other liab | 85.46M | 77.74M | 81.16M | 70.53M | 63.19M |
| Good will | 132.09M | 131.65M | 77.84M | 77.80M | 67.32M |
| Other assets | 59.22M | 0.00M | 137.06M | 56.11M | 0.03M |
| Cash | 21.15M | 21.75M | 19.49M | 10.37M | 11.14M |
| Cash and equivalents | 21.15M | 21.75M | 19.49M | 10.37M | 11.14M |
| Total current liabilities | 323.13M | 476.37M | 302.60M | 309.46M | 312.59M |
| Current deferred revenue | 33.66M | - | - | 68.47M | 88.70M |
| Net debt | 259.18M | 137.89M | 13.19M | 75.05M | 38.08M |
| Short term debt | 55.03M | 128.41M | 10.13M | 56.92M | 49.07M |
| Short long term debt | 55.03M | 128.41M | 10.13M | 56.92M | 49.07M |
| Short long term debt total | 280.33M | 159.64M | 32.68M | 85.42M | 49.22M |
| Other stockholder equity | 10.38M | 29.56M | 44.43M | 47.51M | 48.81M |
| Property plant equipment | 107.15M | 143.25M | 89.11M | 89.65M | 90.75M |
| Total current assets | 762.44M | 711.21M | 598.54M | 549.43M | 546.22M |
| Long term investments | 41.74M | 44.09M | 40.51M | 38.86M | 32.47M |
| Net tangible assets | 610.02M | 601.58M | 550.24M | 504.23M | 467.20M |
| Short term investments | - | - | 40.51M | - | - |
| Net receivables | 167.64M | 180.60M | 198.04M | 135.52M | 157.53M |
| Long term debt | 184.59M | 0.02M | 0.10M | 0.13M | 0.15M |
| Inventory | 548.41M | 491.02M | 365.13M | 387.94M | 370.30M |
| Accounts payable | 89.25M | 137.17M | 100.02M | 92.53M | 94.36M |
| Noncontrolling interest in consolidated entity | 11.02M | 11.05M | - | - | - |
| Accumulated other comprehensive income | -12.47M | -8.17M | -5.68M | -8.59M | -9.59M |
| Common stock total equity | 47.87M | 47.87M | 47.87M | 47.87M | 47.87M |
| Retained earnings total equity | 564.24M | 532.32M | 463.61M | 417.44M | 380.11M |
| Treasury stock | - | -75.82M | -60.66M | -55.23M | -53.66M |
| Non currrent assets other | 27.51M | 25.40M | 21.82M | 18.84M | 15.62M |
| Non current assets total | 492.49M | 486.76M | 358.00M | 363.30M | 296.91M |
| Capital lease obligations | 40.71M | 31.21M | 22.45M | 28.38M | - |
| Long term debt total | 184.59M | 0.02M | 0.10M | 0.13M | 0.15M |
| 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 | -27.82M | -151.25M | -17.80M | -54.81M | -29.89M |
| Change to liabilities | -77.69M | 46.48M | 48.08M | -20.05M | 25.30M |
| Total cashflows from investing activities | -27.82M | -151.25M | -17.80M | -54.81M | -29.89M |
| Net borrowings | 108.58M | 118.59M | -46.82M | 7.95M | -12.38M |
| Total cash from financing activities | 55.50M | 69.01M | -71.52M | -23.38M | -46.12M |
| Change to operating activities | -39.84M | -2.46M | 26.38M | -32.46M | 14.58M |
| Net income | 55.44M | 90.95M | 57.39M | 57.92M | 43.00M |
| Change in cash | -0.60M | 2.27M | 9.12M | -0.77M | -6.18M |
| Begin period cash flow | 21.75M | 19.49M | 10.37M | 11.14M | 17.32M |
| End period cash flow | 21.15M | 21.75M | 19.49M | 10.37M | 11.14M |
| Total cash from operating activities | -27.53M | 85.56M | 97.90M | 76.93M | 70.26M |
| Depreciation | 28.30M | 27.24M | 26.32M | 25.81M | 24.10M |
| Other cashflows from investing activities | -1.86M | -125.37M | 0.02M | -38.63M | -9.74M |
| Dividends paid | -23.43M | -22.18M | -11.22M | -20.59M | 18.85M |
| Change to inventory | -67.50M | -107.61M | 17.98M | -17.90M | -30.20M |
| Change to account receivables | 6.92M | 28.46M | -71.93M | 17.93M | -13.70M |
| Sale purchase of stock | -29.66M | -26.86M | -13.48M | -10.74M | -14.89M |
| Other cashflows from financing activities | 114.57M | 118.05M | -46.82M | 7.95M | -0.18M |
| Change to netincome | 37.34M | 13.18M | 31.79M | 24.84M | 15.46M |
| Capital expenditures | 25.96M | 25.88M | 17.82M | 16.18M | 20.14M |
| Change receivables | 6.92M | 28.46M | -71.93M | 17.93M | -13.70M |
| Cash flows other operating | -10.75M | -13.37M | -11.97M | -11.85M | 5.95M |
| Exchange rate changes | - | -1.06M | 0.54M | 0.50M | -0.44M |
| Cash and cash equivalents changes | 0.15M | 2.27M | 9.12M | -0.77M | -6.18M |
| Change in working capital | -149.02M | -48.56M | -20.14M | -34.38M | -12.43M |
| Stock based compensation | 8.18M | 9.48M | 8.10M | 6.92M | 8.00M |
| Other non cash items | 30.29M | 7.78M | 33.69M | 15.58M | 17.62M |
| Free cash flow | -53.49M | 59.69M | 80.08M | 60.74M | 50.12M |
Sector: Consumer Cyclical Industry: Auto Parts
|
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) |
|---|---|---|---|---|---|---|---|---|
| SMP Standard Motor Products Inc |
-1.07 2.35% |
44.46 | 13.89 | 11.53 | 0.64 | 1.39 | 0.79 | 8.32 |
| ORLY O’Reilly Automotive Inc |
-1.60 1.75% |
89.89 | 27.74 | 23.75 | 3.71 | 206.18 | 4.30 | 19.07 |
| AZO AutoZone Inc |
-92.62 2.80% |
3216.35 | 25.25 | 24.21 | 3.05 | 13.38 | 3.65 | 17.03 |
| SMTOF Sumitomo Electric Industries Ltd |
- -% |
7.95 | 17.90 | 20.41 | 0.01 | 2.40 | 1.31 | 9.00 |
| SMTOY Sumitomo Electric Industries Ltd ADR |
0.46 11.59% |
4.43 | 16.31 | 18.35 | 0.01 | 2.16 | 1.31 | 9.05 |
Standard Motor Products, Inc. manufactures and distributes automotive parts that are used in the maintenance, repair, and service of vehicles in the automotive aftermarket industry in the United States and internationally. The company's Engine Management segment provides electronic ignition control modules, camshaft and crankshaft position sensors, ignition wires and coils, switches and relays, exhaust gas recirculation valves, pressure and temperature sensors, variable valve timing components, mass airflow and fuel pressure sensors, electronic throttle bodies, and diesel injectors and pumps; and anti-lock brake, vehicle speed, tire pressure monitoring, and park assist sensors. This segment offers its products under the Standard, Blue Streak, Intermotor, OEM, BWD select, techexpert, Locksmart, and pollak brands. Its Temperature Control segment provides components for the temperature control systems, engine cooling systems, power window accessories, and windshield washer systems of motor vehicles under the Four Seasons, ACI, Hayden, Factory Air, and Everco HD brands; also distribute our products to customers for resale under private labels with NAPA Echlin and Belden brands. Its products include air conditioning compressors and repair kits, clutch assemblies, blower and radiator fan motors, filter dryers, evaporators, accumulators, actuators, hose assemblies, thermal expansion devices, heater valves, heater cores, A/C service tools and chemicals, fan assemblies, fan clutches, oil coolers, window lift motors, window regulators and assemblies, and windshield washer pumps. The company serves primarily automotive aftermarket retailers, warehouse distributors, original equipment manufacturers, and original equipment service part manufactures. The company was founded in 1919 and is headquartered in Long Island City, New York.
37-18 Northern Boulevard, Long Island City, NY, United States, 11101
718 392 0200
4900
| Name | Title | Year Born |
|---|---|---|
| Mr. Eric Philip Sills | CEO, Pres & Director | 1969 |
| Mr. Nathan R. Iles | CFO & Member of the Office of Chief Exec. | 1977 |
| Mr. James J. Burke | COO & Member of the Office of Chief Exec. | 1955 |
| Mr. Carmine J. Broccole | Chief Legal Officer & Sec. | 1966 |
| Mr. Dale Burks | EVP, Chief Commercial Officer & Member of the Office of Chief Exec. | 1960 |
| Mr. William J. Fazio | Chief Accounting Officer | 1955 |
| Mr. Ray Nicholas | VP of Information Technology & Chief Information Officer | 1964 |
| Mr. Anthony Francis Cristello | VP of Investor Relations | 1969 |
| Mr. Thomas S. Tesoro | Chief HR Officer | 1955 |
| Ms. Erin Pawlish | Treasurer | 1976 |
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