Hurco Companies, Inc. (HURC) · 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	91	106	180	203	193	222	219	227	244	301	263	171	235	251	228
+ Sales & Services Revenue	91	106	180	203	193	222	219	227	244	301	263	171	235	251	228
- Cost of Revenue	65	84	125	140	138	154	150	157	173	209	186	134	179	186	172
+ Cost of Goods & Services	65	84	125	140	138	154	150	157	173	209	186	134	179	186	172
Gross Profit	26	22	56	63	55	69	69	70	71	92	77	36	56	64	56
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	31	30	38	41	41	47	45	51	50	58	55	41	46	52	50
+ Selling, General & Admin	31	30	38	41	41	47	45	51	50	58	55	41	46	52	50
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	-5	-8	17	22	14	22	24	20	21	34	23	-5	10	13	7
- Non-Operating (Income) Loss	-1	1	2	- -	1	1	- -	1	- -	1	-1	6	- -	1	- -
+ Interest Expense, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	-1	1	2	- -	1	- -	- -	1	- -	1	- -	6	- -	1	- -
Pretax Income	-4	-9	16	22	12	21	24	19	21	32	23	-11	10	12	7
- Income Tax Expense (Benefit)	-1	-3	4	6	4	6	7	6	6	11	6	-5	3	4	2
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-2	-6	11	16	8	15	16	13	15	21	17	-6	7	8	4
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	-2	-6	11	16	8	15	16	13	15	21	17	-6	7	8	4
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	-2	-6	11	16	8	15	16	13	15	21	17	-6	7	8	4
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-2	-6	11	16	8	15	16	13	15	21	17	-6	7	8	4
Basic Weighted Avg Shares	6	6	6	6	6	6	7	7	7	7	7	7	7	7	6
Basic EPS, GAAP	-0.36	-0.89	1.73	2.43	1.27	2.33	2.48	2.02	2.28	3.21	2.59	-0.94	1.03	1.25	0.68
Basic EPS from Cont Ops	-0.36	-0.89	1.73	2.43	1.27	2.33	2.48	2.02	2.28	3.21	2.59	-0.94	1.03	1.25	0.68
Diluted Weighted Avg Shares	6	6	6	6	6	7	7	7	7	7	7	7	7	7	7
Diluted EPS, GAAP	-0.36	-0.89	1.72	2.42	1.26	2.32	2.46	2	2.26	3.17	2.57	-0.94	1.02	1.24	0.67
Diluted EPS from Cont Ops	-0.36	-0.89	1.72	2.42	1.26	2.32	2.46	2	2.26	3.17	2.57	-0.94	1.02	1.24	0.67
EBITDA	-2	-4	22	26	17	25	27	23	25	38	26	- -	14	17	11
EBITDA Margin (%)	-1.92	-4	12.02	12.87	8.84	11.38	12.32	10.33	10.06	12.48	9.98	-0.24	6.14	6.64	4.7
EBITA	-5	-8	17	22	14	22	24	20	21	34	23	-5	10	13	7
EBIT	-5	-8	17	22	14	22	24	20	21	34	23	-5	10	13	7
Gross Margin (%)	28.38	20.58	30.97	31.11	28.56	30.86	31.49	30.99	28.96	30.53	29.31	21.37	23.92	25.71	24.66
Operating Margin (%)	-5.54	-7.59	9.63	10.84	7.08	9.9	10.85	8.63	8.58	11.24	8.56	-2.91	4.36	5.08	2.9
Profit Margin (%)	-2.55	-5.42	6.17	7.7	4.25	6.81	7.39	5.85	6.2	7.15	6.64	-3.66	2.88	3.28	1.93
Sales per Employee	233,374	240,666	346,923	362,709	308,486	360,297	285,283	299,854	325,323	375,839	335,512	240,320	333,137	341,244	318,166
Dividend per Share	- -	- -	- -	- -	0.1	0.26	0.31	0.35	0.39	0.43	0.47	0.51	0.56	0.6	0.64
Depreciation Expense	3	4	4	4	3	3	3	4	4	4	4	5	4	4	4

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	118	136	164	173	185	211	218	218	246	281	262	251	290	268	248
+ Cash, Cash Equivalents & STI	29	48	45	36	43	54	55	41	66	77	57	58	84	64	42
+ Cash & Cash Equivalents	29	48	45	36	43	54	55	41	66	77	57	58	84	64	42
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	14	25	28	37	36	45	42	49	50	54	43	28	43	38	40
+ Accounts Receivable, Net	14	20	27	35	36	45	42	49	50	54	43	28	43	38	40
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	5	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	60	56	81	91	95	96	106	117	120	138	149	150	148	156	158
+ Raw Materials	15	16	21	19	22	22	26	26	33	38	32	30	38	43	37
+ Work In Process	4	13	15	14	16	14	21	18	20	23	21	13	18	17	16
+ Finished Goods	42	27	45	58	58	60	60	74	67	77	96	107	93	96	105
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	15	7	9	10	11	15	15	12	10	12	13	16	15	9	9
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	26	24	22	22	26	26	28	34	35	34	39	44	43	38	42
+ Property, Plant & Equip, Net	13	12	12	12	12	12	13	12	12	13	14	24	21	17	20
+ Property, Plant & Equip	25	25	27	29	31	31	36	35	37	39	42	54	54	48	51
- Accumulated Depreciation	12	13	15	17	19	20	22	23	25	26	28	30	32	31	31
+ LT Investments & Receivables	7	6	6	6	5	7	7	7	7	8	8	8	10	9	10
+ LT Investments	7	6	6	6	5	7	7	7	7	8	8	8	10	9	10
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	7	6	5	4	9	8	8	15	16	13	17	12	12	12	13
+ Total Intangible Assets	7	6	5	4	9	8	8	8	10	11	15	10	9	9	8
+ Goodwill	- -	- -	- -	- -	3	3	2	2	2	2	6	- -	- -	- -	- -
+ Other Intangible Assets	7	6	5	4	6	5	5	6	7	8	9	10	9	9	8
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	- -	- -	- -	- -	- -	- -	- -	6	6	2	2	2	3	3	5
Total Assets	145	160	187	195	211	237	246	252	282	315	301	296	333	306	291
+ Payables & Accruals	19	40	55	46	51	63	62	56	68	83	54	45	68	61	47
+ Accounts Payable	8	30	39	30	34	43	43	37	48	58	34	33	49	41	30
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	2	5	2	- -	1	3	2
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	10	10	16	16	17	20	19	19	18	21	18	12	18	18	15
+ ST Debt	- -	- -	1	3	4	3	2	1	2	1	- -	4	4	4	4
+ ST Borrowings	- -	- -	1	3	4	3	2	1	2	1	- -	- -	- -	- -	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	4	4	4	4
+ Other ST Liabilities	2	2	2	1	1	1	1	1	2	2	- -	1	9	8	5
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5	9	5	3
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	2	2	2	1	1	1	1	1	2	2	- -	-4	- -	4	2
Total Current Liabilities	21	42	57	49	56	67	65	58	71	87	55	50	81	73	55
+ LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	8	7	5	8
+ LT Borrowings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	8	7	5	8
+ Other LT Liabilities	4	3	3	2	4	5	6	9	8	6	6	6	7	5	6
+ Accrued Liabilities	4	3	3	2	3	1	1	4	4	4	- -	- -	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	- -	- -	- -	- -	1	4	5	4	4	2	6	6	6	5	6
Total Noncurrent Liabilities	4	3	3	2	4	5	6	9	8	6	6	14	13	10	13
Total Liabilities	24	46	60	52	60	72	71	66	79	93	61	65	95	84	68
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	53	53	53	55	55	57	58	60	62	65	67	62	65	64	62
+ Common Stock	- -	- -	- -	1	1	1	1	1	1	1	1	1	1	1	1
+ Additional Paid in Capital	53	53	53	54	55	56	58	59	61	64	66	61	64	64	62
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	70	64	75	91	98	112	126	137	149	168	182	172	176	180	180
+ Other Equity	-2	-2	-2	-1	-2	-4	-9	-11	-8	-10	-9	-3	-2	-22	-20
Equity Before Minority Interest	120	115	126	144	151	165	175	185	203	223	240	231	238	223	222
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	120	115	126	144	151	165	175	185	203	223	240	231	238	223	222
Total Liabilities & Equity	145	160	187	195	211	237	246	252	282	315	301	296	333	306	291
Shares Outstanding	6	6	6	6	6	7	7	7	7	7	7	7	7	7	6
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	12	11	9	11
Net Debt	-29	-48	-44	-33	-39	-51	-54	-40	-65	-76	-57	-58	-84	-64	-42
Net Debt to Equity	-23.91	-42.06	-34.94	-22.65	-25.84	-30.72	-30.74	-21.43	-31.91	-33.98	-23.7	-25.03	-35.26	-28.71	-18.8
Tangible Common Equity Ratio	82.37	70.44	66.78	73.08	70.51	68.46	70.09	72.71	71.11	69.62	78.72	77.44	70.81	71.92	75.81
Current Ratio	5.68	3.22	2.87	3.51	3.32	3.15	3.35	3.77	3.48	3.24	4.79	4.98	3.57	3.66	4.52
Cash Conversion Cycle	333.77	222.29	163.89	197.25	232.32	203.09	220.27	244.59	235.82	203.76	263.93	391.81	274.27	273.01	322.79
Number of Employees	390	440	520	560	625	617	769	758	749	800	785	710	706	735	716

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	-2	-6	11	16	8	15	16	13	15	21	17	-6	7	8	4
+ Depreciation & Amortization	3	4	4	4	3	3	3	4	4	4	4	5	4	4	4
+ Non-Cash Items	-4	1	1	6	-2	- -	3	3	1	3	3	8	2	3	-2
+ Stock-Based Compensation	- -	- -	- -	1	1	1	1	2	2	3	3	2	3	3	3
+ Deferred Income Taxes	-3	- -	1	2	-1	1	-1	- -	1	-1	- -	-1	- -	-1	- -
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5	- -	- -	- -
+ Other Non-Cash Adj	-2	1	- -	3	-2	-1	3	2	-2	1	- -	2	- -	1	-4
+ Chg in Non-Cash Work Cap	2	23	-18	-32	5	-3	6	-27	10	-7	-30	5	19	-19	-20
+ (Inc) Dec in Accts Receiv	14	-4	-3	-9	5	-12	4	-8	1	-5	11	16	-15	- -	- -
+ (Inc) Dec in Inventories	11	4	-26	-10	-1	-5	3	-14	2	-20	-10	3	2	-24	-1
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	-2	- -	-2	- -	1	- -	1	-1	-4	- -	7	-1
+ Inc (Dec) in Accts Payable	-30	21	14	-9	- -	14	-2	-6	9	17	-29	-11	27	1	-16
+ Inc (Dec) in Other	6	2	-3	-2	2	3	1	- -	-1	1	- -	- -	4	-3	-3
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	-1	22	-1	-7	14	16	29	-7	30	21	-6	11	32	-4	-13
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-4	-2	-3	-4	-2	-3	-5	-4	-4	-6	-5	-2	-2	-2	-3
+ Acq of Fixed Prod Assets	-2	-1	-2	-3	-1	-2	-3	-2	-2	-4	-3	-1	-1	-1	-1
+ Acq of Intangible Assets	-2	-1	-1	-1	-1	-1	-1	-2	-2	-2	-2	-1	-1	-1	-1
+ Net Change in LT Investment	7	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	7	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	- -	- -	- -	- -	- -	-18	- -	- -	-1	-4	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -	- -	-18	- -	- -	-1	-4	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-1	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	2	-2	-3	-4	-3	-3	-22	-4	-4	-7	-9	-1	-3	-2	-2
+ Dividends Paid	- -	- -	- -	- -	-1	-2	-2	-2	-3	-3	-3	-3	-4	-4	-4
+ Net Cash From Debt	- -	- -	1	2	-4	- -	-2	- -	- -	- -	-1	- -	- -	- -	- -
+ Cash From Debt	- -	- -	1	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Repayments of Debt	- -	- -	- -	- -	-4	- -	-2	- -	- -	- -	-1	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-7	- -	-3	-5
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-7	- -	-3	-5
+ Other Financing Activities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	- -	- -	1	2	-5	-2	-3	-2	-2	-3	-5	-11	-4	-7	-9
Effect of Foreign Exchange Rates	1	-1	- -	-1	- -	-1	-2	-1	1	-1	- -	2	1	-7	1
Net Changes in Cash	1	20	-3	-8	7	12	3	-13	24	12	-20	-1	25	-13	-24
EBITDA	-2	-4	22	26	17	25	27	23	25	38	26	- -	14	17	11
EBITDA Margin (%)	-1.92	-4	12.02	12.87	8.84	11.38	12.32	10.33	10.06	12.48	9.98	-0.24	6.14	6.64	4.7
Net Cash Paid for Acquisitions	- -	- -	- -	- -	- -	- -	18	- -	- -	1	4	- -	- -	- -	- -
Free Cash Flow	-5	20	-4	-11	12	14	24	-11	26	15	-11	9	30	-6	-15
Free Cash Flow to Firm	- -	- -	-4	-11	12	14	24	-11	26	15	-11	- -	30	-6	-15
Free Cash Flow to Equity	-3	21	-2	-7	9	14	24	-9	28	18	-11	10	31	-5	-14
Free Cash Flow per Basic Share	-0.81	3.09	-0.63	-1.66	1.86	2.11	3.67	-1.68	3.92	2.26	-1.67	1.39	4.52	-0.94	-2.37
Price/Free Cash Flow	46.24	5.04	102.64	-45.68	9.49	13.39	5.35	-64.29	8.46	10.3	-153.08	15.69	6.14	-90.71	-12.67
Cash Flow to Net Income	0.64	-3.79	-0.11	-0.45	1.76	1.08	1.76	-0.52	2.01	0.98	-0.37	-1.75	4.76	-0.48	-2.92

Hurco Companies, Inc.

HURC US

17.18