L.B. Foster Company (FSTR) · 10+ Years of Financial statements

Income Statement	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Sales/Revenue/Turnover	382	475	591	589	598	607	625	484	536	627	655	497	514	497	544
+ Sales & Services Revenue	382	475	591	589	598	607	625	484	536	627	655	497	514	497	544
- Cost of Revenue	322	400	489	496	482	486	491	393	433	510	534	402	427	408	431
+ Cost of Goods & Services	322	400	489	496	482	486	491	393	433	510	534	402	427	408	431
Gross Profit	60	75	102	92	116	122	134	90	103	117	121	95	86	90	113
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	36	41	70	70	74	85	105	96	88	95	95	79	82	89	103
+ Selling, General & Admin	36	43	67	67	71	80	93	86	81	88	88	74	76	83	97
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	- -	-1	3	3	3	5	12	10	7	7	7	6	6	6	5
Operating Income (Loss)	24	33	32	23	42	37	29	-5	16	22	27	16	4	1	10
- Non-Operating (Income) Loss	-1	1	-2	-1	-3	-2	79	142	8	49	9	2	- -	10	9
+ Interest Expense, Net	1	1	- -	- -	- -	- -	4	6	8	6	5	4	3	3	6
+ Interest Expense	1	1	1	1	- -	1	4	7	8	6	5	4	3	3	6
- Interest Income	1	- -	- -	- -	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	-2	- -	-2	-1	-2	-2	75	136	- -	43	4	-2	-3	6	4
Pretax Income	25	33	34	24	44	39	-51	-147	8	-27	17	14	5	-9	1
- Income Tax Expense (Benefit)	10	12	11	11	15	13	-6	-6	4	4	-25	-12	1	37	- -
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	16	20	23	12	29	26	-44	-142	4	-31	43	26	3	-46	1
- Net Extraordinary Losses (Gains)	- -	- -	- -	-4	- -	- -	- -	- -	- -	- -	- -	18	- -	- -	- -
+ Discontinued Operations	- -	1	1	4	- -	- -	- -	- -	- -	-1	-5	-18	- -	- -	- -
+ Extraord. & Accounting Changes	- -	-1	-1	-8	- -	- -	- -	- -	- -	1	5	36	- -	- -	- -
Income (Loss) Incl. MI	16	20	23	16	29	26	-44	-142	4	-31	43	8	4	-45	2
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	16	20	23	16	29	26	-44	-142	4	-31	43	8	4	-46	1
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	16	20	23	16	29	26	-44	-142	4	-31	43	8	4	-46	1
Basic Weighted Avg Shares	10	10	10	10	10	10	10	10	10	10	10	11	11	11	11
Basic EPS, GAAP	1.55	2.01	2.24	1.6	2.88	2.51	-4.33	-13.79	0.4	-3.01	4.09	0.72	0.34	-4.25	0.14
Basic EPS from Cont Ops	1.55	2.01	2.24	1.22	2.88	2.51	-4.33	-13.79	0.4	-3.01	4.09	2.45	0.33	-4.26	0.12
Diluted Weighted Avg Shares	10	10	10	10	10	10	10	10	10	10	11	11	11	11	11
Diluted EPS, GAAP	1.53	1.98	2.22	1.58	2.85	2.48	-4.33	-13.79	0.39	-3.01	4	0.71	0.34	-4.25	0.13
Diluted EPS from Cont Ops	1.53	1.98	2.22	1.21	2.85	2.48	-4.33	-13.79	0.39	-3.01	4	2.42	0.33	-4.26	0.12
EBITDA	33	43	44	36	52	50	55	18	36	41	44	29	18	16	25
EBITDA Margin (%)	8.66	8.97	7.52	6.05	8.62	8.18	8.88	3.78	6.63	6.54	6.78	5.87	3.57	3.13	4.67
EBITA	24	33	42	33	42	37	43	9	29	34	38	23	13	9	10
EBIT	24	33	32	23	42	37	29	-5	16	22	27	16	4	1	10
Gross Margin (%)	15.67	15.7	17.29	15.68	19.39	20.03	21.4	18.69	19.25	18.69	18.53	19.1	16.8	18.01	20.75
Operating Margin (%)	6.38	7.02	5.43	3.85	6.95	6.11	4.61	-1.07	2.93	3.57	4.09	3.14	0.87	0.16	1.86
Profit Margin (%)	4.12	4.31	3.87	2.75	4.9	4.23	-7.12	-29.3	0.77	-4.97	6.5	1.52	0.71	-9.16	0.27
Sales per Employee	644,118	548,557	699,321	717,733	720,437	545,545	444,184	389,616	363,645	423,628	325,737	440,187	518,285	439,874	348,108
Dividend per Share	- -	- -	0.1	0.1	0.12	0.13	0.16	0.12	- -	- -	- -	- -	- -	- -	- -
Depreciation Expense	9	9	3	3	10	13	12	10	7	7	7	6	6	6	15

Balance Sheet	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Current Assets	290	239	240	276	247	248	214	200	221	227	217	195	179	206	168
+ Cash, Cash Equivalents & STI	125	75	74	101	65	52	33	30	38	10	14	8	10	3	3
+ Cash & Cash Equivalents	125	75	74	101	65	52	33	30	38	10	14	8	10	3	3
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	60	70	69	60	98	90	78	67	77	86	79	58	92	116	83
+ Accounts Receivable, Net	60	70	67	60	97	89	78	67	77	86	79	58	56	82	53
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	2	- -	1	1	- -	- -	- -	- -	- -	- -	36	34	29
+ Inventories	99	90	92	107	77	95	96	83	98	125	119	116	63	76	73
+ Raw Materials	16	21	20	20	19	22	19	18	18	22	19	13	28	25	24
+ Work In Process	8	5	9	18	11	16	20	22	29	7	4	5	11	10	5
+ Finished Goods	92	72	73	79	55	65	63	47	56	69	60	61	24	41	45
+ Inventory Adjustments	-17	-8	-10	-9	-9	-8	-6	-3	-5	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	27	37	38	- -	- -	- -
+ Other ST Assets	6	4	5	8	7	10	6	19	9	6	5	13	14	11	9
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	43	139	140	130	166	247	352	193	175	157	189	175	163	160	145
+ Property, Plant & Equip, Net	37	46	48	42	50	75	127	104	96	87	-13	-28	-30	-1	91
+ Property, Plant & Equip	102	120	130	124	138	169	204	185	189	189	96	78	73	103	192
- Accumulated Depreciation	65	73	81	81	88	94	77	82	93	102	109	107	104	104	101
+ LT Investments & Receivables	3	2	3	4	5	6	5	4	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	3	2	3	4	5	6	5	4	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	2	91	88	83	111	167	220	85	79	70	202	203	194	161	54
+ Total Intangible Assets	- -	89	87	81	110	165	217	82	77	69	63	57	51	55	52
+ Goodwill	- -	44	44	41	58	83	82	19	20	19	20	20	20	31	33
+ Other Intangible Assets	- -	45	43	40	52	82	135	64	57	50	44	37	31	24	19
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	2	2	1	2	1	2	3	3	2	1	139	146	142	106	3
Total Assets	333	379	380	406	414	495	567	393	397	383	405	370	343	365	313
+ Payables & Accruals	74	68	65	84	70	100	83	64	83	117	105	88	73	84	83
+ Accounts Payable	62	46	50	50	47	67	56	38	52	78	66	55	41	49	40
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	13	23	15	34	23	33	28	27	30	39	39	33	31	35	42
+ ST Debt	5	2	2	- -	- -	1	1	10	1	1	3	- -	- -	- -	- -
+ ST Borrowings	5	2	2	- -	- -	1	1	10	1	1	3	- -	- -	- -	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	- -	26	17	8	6	8	7	8	10	7	8	7	13	19	12
+ Deferred Revenue	14	17	7	7	6	8	7	8	10	7	8	7	13	19	12
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	-14	9	10	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Current Liabilities	80	97	85	92	75	109	92	82	94	124	117	95	86	103	95
+ LT Debt	13	2	- -	- -	- -	26	167	149	129	74	66	58	43	106	67
+ LT Borrowings	13	2	- -	- -	- -	26	167	149	129	74	55	45	31	92	55
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	10	14	12	14	12
+ Other LT Liabilities	8	24	25	27	22	25	25	28	27	63	53	40	29	19	8
+ Accrued Liabilities	2	12	12	12	12	11	9	11	10	5	5	4	4	3	1
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	6	12	14	14	10	14	16	17	17	57	48	36	26	16	7
Total Noncurrent Liabilities	21	26	25	27	22	50	192	177	157	137	119	98	73	125	75
Total Liabilities	101	123	110	119	97	159	284	260	250	261	235	194	159	228	170
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	48	47	47	46	47	48	47	44	45	48	49	45	43	41	43
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	48	47	47	46	47	48	47	44	45	48	49	45	43	41	43
- Treasury Stock	28	24	28	25	25	23	23	19	19	18	17	13	10	6	6
+ Retained Earnings	213	233	255	270	298	323	277	134	138	114	158	165	169	123	125
+ Other Equity	- -	-1	-5	-4	-5	-12	-18	-25	-18	-22	-20	-20	-19	-21	-19
Equity Before Minority Interest	233	256	270	288	316	336	283	133	146	122	170	177	183	137	142
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	- -	1
Total Equity	233	256	270	288	316	336	283	133	146	122	170	177	184	138	143
Total Liabilities & Equity	333	379	380	406	414	495	567	393	397	383	405	370	343	365	313
Shares Outstanding	9	9	9	10	10	10	10	10	10	10	10	11	11	11	11
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	10	14	12	14	12
Net Debt	-106	-70	-71	-101	-65	-26	135	129	92	65	44	37	21	89	53
Net Debt to Equity	-45.68	-27.37	-26.42	-35.26	-20.41	-7.62	47.89	96.96	63	52.98	25.91	21.18	11.37	64.68	36.9
Tangible Common Equity Ratio	69.78	57.49	62.43	63.49	68.01	51.75	18.9	16.36	21.69	16.88	31.21	38.19	45.44	26.72	34.88
Current Ratio	3.64	2.47	2.83	3.01	3.28	2.28	2.34	2.42	2.36	1.83	1.86	2.05	2.08	2	1.76
Cash Conversion Cycle	102.35	86.06	74.65	76.51	78.41	79.59	74.67	93.23	88.13	82.42	79.31	101.81	70.19	73.65	70.9
Number of Employees	593	866	845	820	830	1,113	1,406	1,241	1,475	1,480	2,011	1,130	991	1,131	1,562

Cash Flow Statement	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
+ Net Income	16	20	22	15	29	26	-44	-142	4	-31	43	26	3	-46	1
+ Depreciation & Amortization	9	9	12	13	10	13	27	23	20	19	18	14	14	15	15
+ Non-Cash Items	-2	-2	5	-4	5	-1	65	142	- -	48	-26	-3	-1	46	5
+ Stock-Based Compensation	1	2	2	2	2	3	1	1	2	4	3	1	2	2	4
+ Deferred Income Taxes	-1	1	3	-5	3	-3	-15	3	-2	-2	-30	-4	- -	36	-2
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	80	136	- -	- -	- -	- -	- -	8	- -
+ Other Non-Cash Adj	-1	-5	- -	-1	-1	-1	-2	2	- -	45	- -	- -	-3	- -	3
+ Chg in Non-Cash Work Cap	3	29	-8	2	-30	29	9	-6	16	-8	-8	-16	-18	-26	16
+ (Inc) Dec in Accts Receiv	3	11	1	7	-37	15	31	12	-9	-11	8	16	4	-26	29
+ (Inc) Dec in Inventories	4	31	-2	-18	30	-10	4	10	-13	-23	7	3	-4	-12	-7
+ (Inc) Dec in Prepaid Assets	- -	- -	-2	4	-7	3	1	-13	14	- -	-2	-9	- -	- -	- -
+ Inc (Dec) in Accts Payable	-3	-15	5	1	-6	19	-22	-19	19	25	-22	-21	-21	3	-5
+ Inc (Dec) in Other	-1	1	-9	8	-10	3	-5	3	5	1	1	-5	4	8	-1
+ Net Cash From Disc Ops	- -	3	-1	- -	- -	- -	- -	- -	- -	-1	3	-4	- -	- -	- -
Cash from Operating Activities	26	59	31	26	14	67	56	18	39	26	29	17	-1	-11	37
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	10	- -	- -	- -	- -	5	1	1	2	1	- -	- -	- -	1
+ Disp of Fixed Prod Assets	- -	10	- -	- -	- -	- -	5	1	1	2	1	- -	- -	- -	1
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-6	-6	-12	-7	-10	-17	-15	-8	-6	-4	-6	-9	-5	-8	-5
+ Acq of Fixed Prod Assets	-6	-6	-12	-7	-10	-17	-15	-8	-6	-4	-6	-9	-5	-8	-5
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	1	-1	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	-1	-1	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	-92	-10	- -	-38	-81	-196	- -	- -	4	- -	-1	- -	-58	-1
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	4	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	-92	-10	- -	-38	-81	-196	- -	- -	- -	- -	-1	- -	-58	-1
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	1	1	11	- -	- -	- -	-1	- -	- -	-3	2	23	9	8
+ Net Cash From Disc Ops	- -	- -	- -	11	- -	- -	- -	- -	- -	-2	-3	2	- -	- -	- -
Cash from Investing Activities	-5	-88	-22	3	-47	-98	-206	-8	-5	2	-8	-8	18	-56	2
+ Dividends Paid	- -	- -	-1	-1	-1	-1	-2	-1	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Debt	-9	-23	-2	-2	- -	24	140	-9	-30	-55	-17	-13	-14	61	-37
+ Cash From Debt	- -	- -	- -	- -	- -	25	301	146	153	140	194	160	170	249	171
+ Repayments of Debt	-9	-23	-2	-2	- -	- -	-161	-155	-183	-195	-210	-173	-183	-188	-209
+ Cash (Repurchase) of Equity	-2	- -	-6	-1	-1	-1	-3	- -	- -	- -	-1	-2	-1	- -	-3
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	-2	- -	-6	-1	-1	-1	-3	- -	- -	- -	-1	-2	-1	- -	-3
+ Other Financing Activities	- -	1	1	1	- -	- -	-1	-2	- -	- -	-1	-1	1	- -	1
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-11	-22	-9	-3	-2	22	134	-13	-30	-55	-18	-15	-14	60	-39
Effect of Foreign Exchange Rates	- -	- -	-1	1	-2	-4	-4	-1	2	- -	1	- -	- -	-1	- -
Net Changes in Cash	10	-50	- -	27	-35	-9	-15	-2	5	-27	3	-6	3	-7	- -
EBITDA	33	43	44	36	52	50	55	18	36	41	44	29	18	16	25
EBITDA Margin (%)	8.66	8.97	7.52	6.05	8.62	8.18	8.88	3.78	6.63	6.54	6.78	5.87	3.57	3.13	4.67
Net Cash Paid for Acquisitions	- -	92	10	- -	38	81	196	- -	- -	-4	- -	1	- -	58	1
Free Cash Flow	20	54	19	19	4	50	41	11	33	22	23	8	-6	-18	32
Free Cash Flow to Firm	20	54	19	20	5	50	- -	- -	38	- -	- -	- -	-3	- -	- -
Free Cash Flow to Equity	11	40	17	17	4	74	187	3	5	-30	8	-5	-19	43	-4
Free Cash Flow per Basic Share	1.93	5.24	1.85	1.91	0.44	4.86	4.02	1.05	3.21	2.15	2.24	0.73	-0.53	-1.7	3
Price/Free Cash Flow	9.7	6.31	6.95	13.07	20.17	5.97	1.91	5.4	6.15	5.48	5.82	6.25	40.41	-34.71	5.7
Cash Flow to Net Income	1.64	2.9	1.34	1.63	0.48	2.6	-1.26	-0.13	9.57	-0.83	0.69	2.23	-0.29	0.23	25.53

L.B. Foster Company

FSTR US

24.31