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Hubbell

Hubbell's net profit rose 13.8% yoy to USD 400 mil in 2021

By Helgi Analytics - August 29, 2022

Hubbell made a net profit of USD 400 mil with revenues of USD 4,194 mil in 2021, up by 13.8% and up by 13.9%, respe...

Hubbell's price/earnings (P/E) rose 17.0% yoy to 28.6 in 2021

By Helgi Analytics - August 29, 2022

Hubbell stock traded at USD 208 per share at the end 2021 translating into a market capitalization of USD 11,392 mil. Since the e...

Hubbell's Net Margin fell 0.123% yoy to 9.53% in 2021

By Helgi Analytics - August 29, 2022

Hubbell made a net profit of USD 400 mil with revenues of USD 4,194 mil in 2021, up by 13.8% and up by 13.9%, respectively, ...

Profit Statement 2019 2020 2021
Sales USD mil 4,591 3,683 4,194
Gross Profit USD mil 1,353 1,086 1,152
EBITDA USD mil 787 675 716
EBIT USD mil 597 495 532
Financing Cost USD mil 69.4 60.1 54.7
Pre-Tax Profit USD mil 521 425 459
Net Profit USD mil 401 351 400
Dividends USD mil 187 201 217
Balance Sheet 2019 2020 2021
Total Assets USD mil 4,903 5,085 5,282
Non-Current Assets USD mil 3,329 3,498 3,402
Current Assets USD mil 1,574 1,588 1,879
Working Capital USD mil 968 864 805
Shareholders' Equity USD mil 1,961 2,085 2,241
Liabilities USD mil 2,943 3,000 3,041
Total Debt USD mil 1,673 1,697 1,531
Net Debt USD mil 1,477 1,428 1,235
Ratios 2019 2020 2021
ROE % 21.2 17.3 18.4
ROCE % 9.42 8.11 9.33
Gross Margin % 29.5 29.5 27.5
EBITDA Margin % 17.1 18.3 17.1
EBIT Margin % 13.0 13.4 12.7
Net Margin % 8.73 9.54 9.53
Net Debt/EBITDA 1.88 2.12 1.73
Net Debt/Equity % 75.3 68.5 55.1
Cost of Financing % 4.00 3.57 3.39
Valuation 2019 2020 2021
Market Capitalisation USD mil 8,096 8,557 11,392
Enterprise Value (EV) USD mil 9,572 9,985 12,627
Number Of Shares mil 54.7 54.5 54.7
Share Price USD 148 157 208
EV/EBITDA 12.2 14.8 17.6
EV/Sales 2.08 2.71 3.01
Price/Earnings (P/E) 20.3 24.4 28.6
Price/Book Value (P/BV) 4.13 4.10 5.08
Dividend Yield % 2.32 2.36 1.92

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overview Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
income statement                                          
Sales USD mil                   3,390 3,505 3,669 4,482 4,591              
Gross Profit USD mil                   1,092 1,105 1,155 1,300 1,353              
EBIT USD mil                   475 490 519 557 597              
Net Profit USD mil                   277 293 243 360 401              
                                             
ROE % ...                 15.0 17.4 14.9 20.8 21.2              
EBIT Margin %                   14.0 14.0 14.1 12.4 13.0              
Net Margin %                   8.18 8.36 6.63 8.04 8.73              
Employees   ...               16,200 17,400 17,700 19,700 18,800     ... ... ... ... ...
balance sheet                                          
Total Assets USD mil                   3,209 3,525 3,721 4,872 4,903              
Non-Current Assets USD mil                   1,821 1,974 2,117 3,228 3,329              
Current Assets USD mil                   1,388 1,551 1,604 1,644 1,574              
                                             
Shareholders' Equity USD mil                   1,749 1,603 1,648 1,799 1,961              
Liabilities USD mil                   1,460 1,922 2,073 3,073 2,943              
Non-Current Liabilities USD mil                   857 1,332 1,367 2,234 2,098              
Current Liabilities USD mil                   603 590 706 839 845              
                                             
Net Debt/EBITDA                   0.515 0.936 1.08 2.26 1.88              
Net Debt/Equity %                   16.5 34.0 40.4 88.7 75.3              
Cost of Financing % ...                 5.00 5.30 4.38 5.08 4.00     ... ... ... ... ...
cash flow                                          
Total Cash From Operations USD mil                   331 398 379 517 592              
Total Cash From Investing USD mil                   -249 -230 -246 -1,201 -129              
Total Cash From Financing USD mil                   -371 -46.8 -214 507 -471              
Net Change In Cash USD mil                   -310 94.1 -80.9 -178 -8.30              
valuation                                          
Market Capitalisation USD mil ... ... ... ... ... ... ... ... ... ... ... 7,439 5,435 8,096              
Enterprise Value (EV) USD mil ... ... ... ... ... ... ... ... ... ... ... 8,104 7,030 9,572              
Number Of Shares mil ... ... ... ... ... ... ... ... ... ... ... 55.1 54.9 54.7              
Share Price USD ... ... ... ... ... ... ... ... ... ... ... 135 99.0 148              
Price/Earnings (P/E) ... ... ... ... ... ... ... ... ... ... ... 30.7 15.1 20.3              
Price/Cash Earnings (P/CE) ... ... ... ... ... ... ... ... ... ... ... 21.8 10.7 17.2              
EV/EBITDA ... ... ... ... ... ... ... ... ... ... ... 13.1 9.97 12.2              
Price/Book Value (P/BV) ... ... ... ... ... ... ... ... ... ... ... 4.51 3.02 4.13              
Dividend Yield % ... ... ... ... ... ... ... ... ... ... ... 2.13 3.20 2.32              
income statement Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
income statement                                          
Sales USD mil                   3,390 3,505 3,669 4,482 4,591              
Cost of Goods & Services USD mil                   2,299 2,400 2,514 3,181 3,238              
Gross Profit USD mil                   1,092 1,105 1,155 1,300 1,353              
Selling, General & Admin USD mil                   617 615 636 744 756     ... ... ... ... ...
Research & Development USD mil               ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Other Operating Expense USD mil ... ... ...             0 0 0 0 0     ... ... ... ... ...
Other Operating Cost (Income) USD mil                   0 0 0 0 0     ... ... ... ... ...
EBITDA USD mil                   560 582 619 705 787              
Depreciation USD mil                   51.2 90.9 98.2 148 70.0              
EBIT USD mil                   475 490 519 557 597              
Net Financing Cost USD mil   ...               31.0 43.4 44.0 72.3 67.9              
Financing Cost USD mil                   31.0 43.4 44.9 72.4 69.4     ... ... ... ... ...
Financing Income USD mil ... ... ...   ... ... ...     0 0 0.900 0.100 1.50     ... ... ... ... ...
FX (Gain) Loss USD mil                   0 0 0 0 0     ... ... ... ... ...
(Income) / Loss from Affiliates USD mil ... ... ...             0 0 0 0 0 ... ... ... ... ... ... ...
Extraordinary Cost USD mil     ...             0 0 0 0 0     ... ... ... ... ...
Pre-Tax Profit USD mil                   419 430 443 467 521              
Tax USD mil                   137 133 193 101 113              
Minorities USD mil     ...             4.80 4.80 6.80 5.90 6.50              
Net Profit USD mil                   277 293 243 360 401              
Net Profit Avail. to Common USD mil                   277 292 242 359 399              
Dividends USD mil                   134 144 158 173 187              
growth rates                                          
Total Revenue Growth % ...                 0.923 3.39 4.67 22.2 2.44              
Operating Cost Growth % ...                 4.33 -0.308 3.41 16.8 1.69     ... ... ... ... ...
EBITDA Growth % ...                 -6.17 3.98 6.27 14.0 11.5              
EBIT Growth % ...                 -8.27 3.20 5.92 7.34 7.13              
Pre-Tax Profit Growth % ...                 -13.8 2.82 2.95 5.39 11.5              
Net Profit Growth % ...                 -14.7 5.60 -17.0 48.1 11.2              
ratios                                          
ROE % ...                 15.0 17.4 14.9 20.8 21.2              
ROA % ...                 8.49 8.70 6.71 8.38 8.20              
ROCE % ...                 11.3 11.1 8.52 10.0 9.42              
Gross Margin %                   32.2 31.5 31.5 29.0 29.5              
EBITDA Margin %                   16.5 16.6 16.9 15.7 17.1              
EBIT Margin %                   14.0 14.0 14.1 12.4 13.0              
Net Margin %                   8.18 8.36 6.63 8.04 8.73              
Payout Ratio %                   48.3 49.2 65.0 48.0 46.6              
Cost of Financing % ...                 5.00 5.30 4.38 5.08 4.00     ... ... ... ... ...
Net Debt/EBITDA                   0.515 0.936 1.08 2.26 1.88              
balance sheet Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
balance sheet                                          
Cash & Cash Equivalents USD mil ... ... ...             356 449 390 198 196              
Receivables USD mil                   467 530 540 725 683              
Inventories USD mil                   540 532 635 651 633              
Other ST Assets USD mil                   25.5 40.1 39.6 69.1 62.0              
Current Assets USD mil                   1,388 1,551 1,604 1,644 1,574              
Property, Plant & Equipment USD mil                   420 440 458 502 505              
LT Investments & Receivables USD mil                   49.5 56.4 57.7 56.3 55.7              
Intangible Assets USD mil                   1,301 1,423 1,549 2,604 2,593              
Goodwill USD mil                   929 991 1,089 1,784 1,812              
Non-Current Assets USD mil                   1,821 1,974 2,117 3,228 3,329              
Total Assets USD mil                   3,209 3,525 3,721 4,872 4,903              
                                             
Trade Payables USD mil                   290 292 327 394 348              
Short-Term Debt USD mil                   48.2 3.20 68.1 56.1 95.0              
Other ST Liabilities USD mil                   0 0.100 10.9 27.7 31.3              
Current Liabilities USD mil                   603 590 706 839 845              
Long-Term Debt USD mil                   596 991 987 1,737 1,578              
Other LT Liabilities USD mil                   261 342 380 497 520              
Non-Current Liabilities USD mil                   857 1,332 1,367 2,234 2,098              
Liabilities USD mil                   1,460 1,922 2,073 3,073 2,943              
Preferred Equity and Hybrid Capital USD mil                   0 0 0 0 0              
Share Capital USD mil                   78.7 16.0 11.6 1.90 0.600              
Treasury Stock USD mil                   0 0 0 0 0              
Equity Before Minority Interest USD mil                   1,741 1,593 1,634 1,781 1,947              
Minority Interest USD mil                   8.40 10.4 13.7 18.3 13.4              
Equity USD mil                   1,749 1,603 1,648 1,799 1,961              
growth rates                                          
Total Asset Growth % ...                 -3.36 9.86 5.55 30.9 0.634              
Shareholders' Equity Growth % ...                 -9.65 -8.34 2.79 9.16 8.98              
Net Debt Growth % ...                 -541 88.9 22.2 140 -7.43              
Total Debt Growth % ...                 8.02 54.3 6.19 69.9 -6.72              
ratios                                          
Total Debt USD mil                   644 994 1,055 1,793 1,673              
Net Debt USD mil                   288 545 666 1,595 1,477              
Working Capital USD mil                   717 771 849 983 968              
Capital Employed USD mil                   2,538 2,745 2,965 4,211 4,297              
Net Debt/Equity %                   16.5 34.0 40.4 88.7 75.3              
Current Ratio                   2.30 2.63 2.27 1.96 1.86              
Quick Ratio ... ... ...             1.36 1.66 1.32 1.10 1.04              
cash flow Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
cash flow                                          
Net Profit USD mil                   277 293 243 360 401              
Depreciation USD mil                   51.2 90.9 98.2 148 70.0              
Non-Cash Items USD mil                   0.900 23.0 65.1 34.1 17.5     ... ... ... ... ...
Change in Working Capital USD mil                   -32.3 -10.1 -29.0 -25.6 22.2              
Total Cash From Operations USD mil                   331 398 379 517 592              
                                             
Capital Expenditures USD mil ... ... ...             -76.4 -56.4 -79.7 -96.2 -93.9              
Net Change in LT Investment USD mil                   0 0 0 0 0     ... ... ... ... ...
Net Cash From Acquisitions USD mil ... ... ...             -163 -173 -184 -1,118 -37.4     ... ... ... ... ...
Other Investing Activities USD mil                   -9.40 -0.200 -0.200 6.00 -0.700     ... ... ... ... ...
Total Cash From Investing USD mil                   -249 -230 -246 -1,201 -129              
                                             
Dividends Paid USD mil                   -134 -144 -158 -172 -187              
Issuance Of Shares USD mil                   -76.8 -243 -92.5 -40.0 -35.0              
Issuance Of Debt USD mil                   46.8 347 49.3 734 -225              
Other Financing Activities USD mil                   -207 -6.90 -16.5 -22.7 -24.3     ... ... ... ... ...
Total Cash From Financing USD mil                   -371 -46.8 -214 507 -471              
                                             
Effect of FX Rates USD mil ... ... ...             -21.2 -27.3 18.3 -8.20 1.30     ... ... ... ... ...
Net Change In Cash USD mil                   -310 94.1 -80.9 -178 -8.30              
ratios                                          
Days Sales Outstanding days                   50.2 55.2 53.8 59.1 54.3              
Days Sales Of Inventory days                   85.7 81.0 92.2 74.7 71.3              
Days Payable Outstanding days                   46.0 44.3 47.4 45.2 39.2              
Cash Conversion Cycle days                   90.0 91.8 98.5 88.6 86.5              
Cash Earnings USD mil                   329 384 341 509 471              
Free Cash Flow USD mil                   81.9 168 133 -684 463              
Capital Expenditures (As % of Sales) % ... ... ...             2.25 1.61 2.17 2.15 2.05              
other ratios Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
                                           
Employees   ...               16,200 17,400 17,700 19,700 18,800     ... ... ... ... ...
Operating Cost (As % of Sales) %                   18.2 17.6 17.3 16.6 16.5     ... ... ... ... ...
Research & Development (As % of Sales) %               ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Effective Tax Rate %                   32.6 30.8 43.6 21.6 21.7              
Total Revenue Growth (5-year average) % ... ... ... ... ...         5.94 4.07 3.80 7.08 6.45              
Total Revenue Growth (10-year average) % ... ... ... ... ... ... ... ... ... ... 3.80 3.77 5.18 6.90              
valuation Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
                                           
Market Capitalisation USD mil ... ... ... ... ... ... ... ... ... ... ... 7,439 5,435 8,096              
Enterprise Value (EV) USD mil ... ... ... ... ... ... ... ... ... ... ... 8,104 7,030 9,572              
Number Of Shares mil ... ... ... ... ... ... ... ... ... ... ... 55.1 54.9 54.7              
Share Price USD ... ... ... ... ... ... ... ... ... ... ... 135 99.0 148              
EV/EBITDA ... ... ... ... ... ... ... ... ... ... ... 13.1 9.97 12.2              
Price/Earnings (P/E) ... ... ... ... ... ... ... ... ... ... ... 30.7 15.1 20.3              
Price/Cash Earnings (P/CE) ... ... ... ... ... ... ... ... ... ... ... 21.8 10.7 17.2              
P/FCF ... ... ... ... ... ... ... ... ... ... ... 55.8 -7.94 17.5              
Price/Book Value (P/BV) ... ... ... ... ... ... ... ... ... ... ... 4.51 3.02 4.13              
Dividend Yield % ... ... ... ... ... ... ... ... ... ... ... 2.13 3.20 2.32              
Free Cash Flow Yield % ... ... ... ... ... ... ... ... ... ... ... 1.79 -12.6 5.72              
Earnings Per Share (EPS) USD ... ... ... ... ... ... ... ... ... ... ... 4.40 6.54 7.30              
Cash Earnings Per Share USD ... ... ... ... ... ... ... ... ... ... ... 6.19 9.26 8.61              
Free Cash Flow Per Share USD ... ... ... ... ... ... ... ... ... ... ... 2.42 -12.5 8.46              
Book Value Per Share USD ... ... ... ... ... ... ... ... ... ... ... 29.9 32.8 35.8              
Dividend Per Share USD ... ... ... ... ... ... ... ... ... ... ... 2.88 3.16 3.44              
EV/Sales ... ... ... ... ... ... ... ... ... ... ... 2.21 1.57 2.08              
EV/EBIT ... ... ... ... ... ... ... ... ... ... ... 15.6 12.6 16.0              
EV/Free Cash Flow ... ... ... ... ... ... ... ... ... ... ... 60.8 -10.3 20.7              
EV/Capital Employed ... ... ... ... ... ... ... ... ... ... ... 2.73 1.67 2.23              
Earnings Per Share Growth % ... ... ... ... ... ... ... ... ... ... ... ... 48.7 11.6              
Cash Earnings Per Share Growth % ... ... ... ... ... ... ... ... ... ... ... ... 49.6 -7.07              
Book Value Per Share Growth % ... ... ... ... ... ... ... ... ... ... ... ... 9.56 9.38              

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Hubbell's ROCE rose 15.0% yoy to 9.33% in 2021

By Helgi Analytics - August 29, 2022

Hubbell made a net profit of USD 400 mil in 2021, up 13.8% compared to the previous year. Historically, between 2006 and 2021, the company's net profit reached a high of USD 401 mil in 2019 and a low of USD 158 mil in 2006. The result implies a return on ...

Hubbell's P/FCF fell 8.80% yoy to 24.4 in 2021

By Helgi Analytics - August 29, 2022

Hubbell stock traded at USD 208 per share at the end 2021 translating into a market capitalization of USD 11,392 mil. Since the end of 2016, the stock has appreciated by 0% representing an annual average growth of %. At the end of 2021, the firm traded a...

Hubbell's Net Debt/EBITDA fell 18.5% yoy to 1.73 in 2021

By Helgi Analytics - August 29, 2022

Hubbell's net debt stood at USD 1,235 mil and accounted for 55.1% of equity at the end of 2021. The ratio is down 13.4 pp compared to the previous year. Historically, the firm’s net debt to equity reached a high of 88.7% in 2018 and a low of ...

Hubbell's Capital Expenditures fell 2.04% yoy to USD 90.2 mil in 2021

By Helgi Analytics - August 29, 2022

Hubbell invested a total of USD 90.2 mil in 2021, up 2.04% compared to the previous year. Historically, between 2009 - 2021, the company's investments stood at a high of USD 96.2 mil in 2018 and a low of USD 28.8 mil in 2009. As a per...

Hubbell's Share Price rose 32.7% yoy to USD 208 in 2021

By Helgi Analytics - August 29, 2022

Hubbell stock traded at USD 208 per share at the end 2021 implying a market capitalization of USD 11,392 mil. Since the end of 2016, stock has appreciated by % implying an annual average growth of % In absolute terms, the value of the company rose by...

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Finance

Hubbell has been growing its sales by 6.28% a year on average in the last 5 years. EBITDA has grown on average by 9.23% a year during that time to total of USD 1,113 mil in 2026, or 19.6% of sales. That’s compared to 18.1% average margin seen in last five years.

The company netted USD 688 mil in 2026 implying ROE of 30.0% and ROCE of 13.9%. Again, the average figures were 24.0% and 12.4%, respectively when looking at the previous 5 years.

Hubbell’s net debt amounted to USD 1,216 mil at the end of 2026, or 49.0% of equity. When compared to EBITDA, net debt was 1.09x, down when compared to average of 1.27x seen in the last 5 years.

Valuation

Hubbell stock traded at USD 211 per share at the end of 2026 resulting in a market capitalization of USD 11,405 mil. Over the previous five years, stock price grew by 1.31% or 0.261% a year on average. The closing price put stock at a 12-month trailing EV/EBITDA of 11.3x and price to earnings (PE) of 16.6x as of 2026.