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Comparing America\'s Next 3 Business Equipment Companies

by:GOJO     2020-06-15
* All Data closed on Wednesday, March 11, 2015.
The focus is on corporate fundamentals and financial data, not reviews.
As we delve into each industry, a model has come to light, extending from the top of the largest companies in each field to the second level of a slightly smaller company.
Like digging truffles or oysters, finer specimens are placed under the surface.
Today\'s comparison of the next three commercial equipment companies in the United States is another good example, because this second set of companies not only performs better than the top-level companies on it, but it also expects greater potential for future earnings growth.
Avery Dennison Corporation has compared the three major commercial equipment companies in the United States (NYSE: AVY)
Pitney Bowes, Inc. (NYSE: PBI)
, And VeriFone Systems(NYSE: PAY)
Let\'s look at the next largest America. S.
Industry Company: HNI(NYSE: HNI)Company Steelcase. (NYSE: SCS)
Herman Miller(NASDAQ: MLHR).
Headquartered in mascatine, Iowa, HNI Corporation designs, manufactures and sells office furniture and fireplace products mainly in the United States, Canada, China, Hong Kong, India and Taiwan, metal and wood commercial and home office furniture including storage products, desks, folding pages, chairs, tables, bookcases, separate office partitions and panel systems, as well as Lamex and ERGO sold by HON, Allsteel, Maxon, Gunlocke, Paoli, HBF, artcobell, Midwest Folding Products, US desks, basyx, etc. through independent local office furniture and office product distributors, country offices, wholesalers and direct sales of products to federal, state and local government offices.
The company also offers gas, electricity, wood and biomass burning fireplaces, plug-ins, stoves, panels and accessories under brands such as Heatilator, Heat & Glo, Majestic, Monessen, Quadra
Fire, Haman furnace, Vermont casting and PelPro.
Steelcase Inc. , based in Grand Rapids, Michigan, designs, manufactures and distributes furniture environments and interior building products, including panels
Based on independent furniture systems, storage, tables, ergonomic workstations, leisure seats, professional seats in the health care and education industries, as well as full height and partial cultivation, integration, detail, rotating stone, design and multiple vision under brands such as steel casing.
The company also provides surface materials to architects and designers, including textiles and wall coverings, to the third-
Party manufacturers of whiteboards and blackboards, in addition to workplace strategic consulting, leasing initiation, furniture and asset management, and managed space services.
Herman Miller, based in Zeeland, Michigan, designs, manufactures and sells office furniture systems, seat products, independent furniture components, textiles and related services, including the modular system under the brand of canvas office landscape, regional settings, meta-form combination, public office landscape, Action Office, Ethospace, Resolve, etc. , my studio environment, through its own network of salespeople and distributors, independent dealers and retailers, embodiment, Aeron, Mirra, Mirra2, Setu, Sayl, Celle, independent office furniture dealers, through the Internet.
The company also provides wooden cases-
Goods and independent furniture products under brands such as Geiger, Abak, Intent, Sense and Envelop, as well as health care furniture under the name compass, Nala and Nemschoff, in addition to indoor textiles for commercial, medical and residential interiors.
Although the six largest countries in the United StatesS.
Companies in the industry are fairly close to market capitalization --
Between $68 billion and $1. 66 billion -
Today\'s second three companies do more than their biggest peers, as shown in the following figure.
The broader market Standard & Poor\'s 500 index since the economic recovery in early 2009 [black]
Up 200%, three AVI 【orange], PBI [yellow], and PAY [gray]
Up 200%, 25% and 750%, respectively, while today\'s HNI [beige], SCS [blue], and MLHR [purple]
Up 525%, 365% and 240% respectively-
Despite their size of 2nd, 3rd and 4 respectively, they rank, 5 and 6 on performance, pushing the two largest companies in the industry to the two lowest-performing positions.
Source: BigCharts.
The second three companies in ComOur have performed better in the past 12 months, as shown in the following figure.
S & P rose 9%, and AVY, PBI and PAY, the three largest companies in the industry, all performed poorly under the + 2% change ,-
13% and + 7%, ranked fourth, sixth and 3rd of the six companies.
At the same time, the second trio of HNI, SCS and MLHR took place with + 44%, + 20% and-
4%, ranked 1st, 2nd and fifth out of the six rankings, and the first two were the only two to beat S & P.
Another revenge for the losers is to play their role in the commercial equipment industry.
Source: BigCharts.
The future revenue growth of ComIn, the entire commercial equipment industry is expected to flourish as shown in the following table, where green indicates superior to green and yellow indicates poor performance relative to the wider market.
In the last two quarters, revenue growth in the industry exceeded about £ 2 in S & P. 01 to 8.
The average growth rate is 69 times.
Although the industry is expected to decline next year, the industry will grow faster than the market in the next five years, about 1.
It is 59 times the average growth rate. Zooming-
More recently, the second trio in today\'s commercial equipment industry is expected to continue to surpass the top trio, which is consistent with their recent performance, as shown in the table below.
In the last two quarters, HNI and SCS are still expected to be ranked 1st and 2nd in revenue growth, followed by 3rd and 3rd in salary.
The sixth-largest MLHR has also continued to be fifth in growth, still ahead of the 2nd-largest PBI.
All of them with their past 12-
More than a month of performance.
However, over the next year and beyond, the second trio is fully consistent in terms of revenue growth, which not only outgrew the broader market in S & P, but it also surpassed the three largest companies in their industry.
Strong occupation is complete.
Is there a lesson for investors here?
You must have.
Develop a habit and dig deeper through big boys in an industry.
More precious jewelry is usually buried.
However, when identifying a company as a potential investment, it is not just revenue growth that should be considered.
Among other indicators, how do these three indicators compare with each other and which one is the best investment?
Let\'s answer this by comparing their company fundamentals in the following format:)
B) financial comparison
Estimates and analyst advice, and c)
Ranking with data sheet.
When we compare each indicator, the company with the best performance will be covered by green shadows, and the company with the worst performance will be covered by yellow shadows, which will be counted in the final ranking later. A)
Financial comparison market value: although the size of the company does not necessarily mean an advantage and therefore does not rank, it is important to compare other financial data to rank as a denominator.
Growth: since there may be a big difference in income and expenses per season, growth is measured over the course of a yearover-
For example, the first quarter of this year compared with the first quarter of the previous year.
In the most recent quarter, MLHR achieved the largest annual revenue growth --over-
Year, and the minimum delivery of SCS.
Since trailing revenue growth for MLHR is not available, the indicator is not included in the comparison.
Although it is worth noting that SCS beat HNI slightly in terms of contraction.
Profitability: the company\'s profit margin is very important to determine how much profit the company gets from sales.
Operating profit margin represents the percentage obtained after operating costs (such as labor, materials, and overhead.
Profit margin represents the remaining profit after Operating costs plus all other costs (including debt, interest, taxes and depreciation.
Of our three contestants, MLHR has the highest profit and operating profit, and HNI and SCS have the lowest profit.
Management Effectiveness: shareholders are very interested in the management\'s ability to do more with what is given to it.
The effectiveness of management is measured by the assets it controls and the returns generated by the equity of the shareholder\'s investment company.
For their management performance, MLHR\'s management team has the largest return on assets and equity, while scs\'s team has the least return on both.
Earnings per share: Of all the metrics that measure the company\'s revenue, earnings per share may be the most meaningful for shareholders, as this represents the value that the company has added to the outstanding shares per share.
Due to the different number of tradable shares in different companies, I prefer to convert the earnings per share to the percentage of the current share price to better determine where the investment can get the maximum value.
Of the three companies compared here, MLHR\'s diluted earnings per share for common stock shareholders account for the largest percentage of its current share price, while HNI has the lowest DEPS relative to the current share price.
Share price value: even if a company is better than its peers on all of the above indicators, investors may still shy away from its stock if its price is already too high.
This is where the stock price is reviewed relative to the forward earnings and the company\'s book value, and where the earnings of the stock price relative to the earnings growth are reviewed, called the hook ratio.
A lower ratio indicates that stock prices are currently trading at a cheaper price than their peers, and therefore may be a transaction.
Of our three fighters, MLHR stock is the cheapest relative to forward earnings, 5-
Year PEG, where the stock of scs is relative to 5-year PEG.
In the case of excessive size, HNI\'s stock is the most expensive relative to forward earnings and Company books, of which scs are the most overvalued relative to PEG. B)
Of course, no matter how skilled we think we are in measuring the prospects of stocks as investments, we should at least consider the forecasts of professional analysts and the company itself --
It includes estimated future earnings per share and the growth rate of these earnings, stock price targets, and suggestions for buying and selling.
Revenue estimates: in order to correctly compare future earnings per share estimates for multiple companies, we need to convert them to a percentage of the current price of the stock.
In our three samples, HNI provided the highest percentage of earnings for all time periods, while SCS provided the lowest percentage of earnings for all time periods.
Long-term revenue growth:
Term investor this indicator is one of the most important considerations because it represents the percentage of expected revenue growth or contraction compared to the income of the corresponding period a year ago.
For revenue growth, HNI provided the biggest growth in the quarter, and for the next five years, SCS provided the biggest growth in the next quarter and next year, while MLHR provided the slowest growth
Price target: as with the earnings estimate above, in order to correctly compare multiple companies, the company\'s stock price target must also be converted into a percentage of the current price.
For the high, medium and low price targets for the next 12 months, analysts believe that scs\'s stock provides the maximum upside potential and the minimum downside risk, and HNI\'s stock provides the smallest upside
It must be noted, however, that HNI has only one broker to predict the price, which limits the accuracy of the target.
Buy/sell suggestions: after all, I said and did it again. Maybe one measure to summarize all this is the analyst\'s suggestion.
These have been translated into a percentage of each level recommended by analysts.
However, I only considered strong buy and buy suggestions in the ranking.
Holding, poor performance, and sales advice are not ranked as they are determined after the winner of the strong purchase and purchase category has been identified, and will only negate those that are officially won.
Among our three competitors, MLHR is most popular with two strong purchases and two purchases, accounting for 100% of its four analysts, followed by SCS, of the four analysts, three bought and 0 bought, accounting for 75%. finally, 0% of the four analysts in HNI said 0 purchases and 0 buy suggestions. C)
RankingsHaving calculated all the numbers and compared all the predictions, and now is the time to summarize the outcome and rank our three competitors.
In the table below, you will find all the data considered above, as well as some other data that has not been reviewed.
Here, the use of the company\'s market value as a denominator begins to play a role, because for a fair comparison, most of the data in the table has been converted into a percentage of the market value.
The companies that rank first and last have shadows.
We then add up the results of each company to determine its overall ranking, the results of the first place are regarded as advantages, and the results of the last one are regarded as disadvantages.
The winner is . . . . . . MLHR comfortably sits in the leading position, performs well on 12 indicators, and performs poorly on 6 indicators, with a net score of 6 points, SCS destroyed its excellent performance in 10 indicators, poor performance in 12 indicators, net score-
2, HNI left all the curved shapes at the end, performed well on 8 indicators, did not perform well on 15 indicators, net divided-7.
In this competition, the revenue growth potential of financial management is the largest.
In the commercial equipment industry, it is expected that the performance of this quarter and next quarter will significantly exceed the broader market of S & P, and next year\'s performance will decline significantly, then in the next three largest U. S.
It is expected that companies in the field will grow more than the broader market in almost every period, except for MLHR in the short term.
However, after considering the basic factors of all companies, Herman Miller
Given that the lowest share price for investors is forward earnings and 5-
Annual hooks, the highest trailing revenue growth, the widest margin and operating profit, the greatest return on assets and equity, the highest market value and income, the highest Diluted earnings, best average price target and percentage of most analyst buy advice
Decisively won the competition of the next three commercial equipment companies in the United States.
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