09-01-2011: DFC Global Inc. (DLLR): What's In a Name?
Corporate Wepages
Company Profile |
Company History |
News |
Comparison |
Similar Companies Performance:
Bond Issue |
Zenith Index |
Under current market conditions, a Zenith Index Score of 1.20 or above is required for a positive rating on this factor. 1.21 -1.30 is considered acceptable, 1.30-1.40 is consider strong and > 1.40 is considered exceptionally strong. Accounting statements in this section often contain mistakes, especially in earlier years' totals, but data is deemed sufficient for us to give a rating. More accurate financial statements follow in the next section.
Dollar Financial Corp. (DLLR ) Sector: Financial
1436 Lancaster Avenue Industry: Credit Services
Suite 300 Exchange: Nasdaq
Berwyn, PA 19312
Dollar Financial Corp., through its subsidiaries, provides retail
financial services to unbanked and under-banked consumers, and small
businesses. Its primary products and services include short-term consumer
loans, single-payment consumer loans, check cashing services, secured pawn
loans, and gold buying services. The company also provides other retail
services and products comprising money order and money transfer products,
electronic tax filing, bill payment, foreign currency exchange, VISA and
MasterCard branded reloadable debit cards, and prepaid local and
long-distance phone services. In addition, it offers military installment
loan and education services, such as fee based services to enlisted
military personnel applying for loans to purchase new and used vehicles.
The company provides its products and services through storefront
locations, as well as via the Internet. As of August 25, 2011, it operated
through a network of approximately 1,300 retail storefront locations. It
operates its locations principally under the Money Mart, The Money Shop,
Loan Mart, Insta-Cheques, Suttons and Robertson, The Check Cashing Store,
Sefina, and Money Now in Canada, the United Kingdom, the United States,
Poland, the Republic of Ireland, Sweden, and Finland. The company was
formerly known as DFG Holdings, Inc. Dollar Financial Corp. was founded in
1990 and is headquartered in Berwyn, Pennsylvania.
Last Trade: 22.70 52-Week Range: 23.50 - 11.65
Trade Date: 08-30 Avg. Volume: 379,744 Shares
Index Membership: Employees: 0
Corporate Governance:
Board (Medium Risk), Audit (Low Risk), Compensation
(High Risk), Shareholder Rights (Medium Risk).
EPS: 1.66 Dividend Amount: $ 0.00 Yield: 0.00%
Ex-Dividend Date: N/A Mkt Cap: $ 964,750K
Payout Ratio: 0.00%
Last Split Factor (new for old): 3:2 Split Date: Feb 7, 201
Key Statistics:
Enterprise Value: $ 1,690,000K Revenue (ttm) : $ 788,400K
Gross Profit: $ 0K
Earnings before Income Tax, Depreciation and Amortization: $ 236,030K
Enterprise Value/Revenue (ttm): 2.15 Revenue per Share: $ 20.75
Enterprise Value/EBITDA (ttm): 7.18 Qtrly Rev Growth (y to y): 60.00%
P/E Ratio (fwd projected): 8.57 P/E Ratio (current): 13.67
P/E Growth Ratio (5 yr expected): 0.46 Operating Margin: 26.02%
Price/Sales Ratio: 1.19 Profit Margin: 8.35%
Price/Book Value: 2.20 Book Value: $ 10.05/sh.
Return on Assets: 8.91% Net Income Avl to Common: $ 65,800K
Return on Equity: 20.41% Diluted Earnings/Share: $ 1.66
Qrtly Earnings Growth (yoy): 41.70%
Balance Sheet Items : Cash Flow Items (ttm):
(most recent qrtr) (trailing 12 mo.)
Total Cash: $ 189,000K Operating Cash Flow:$ 0K
Total Debt: $ 944,800K Lvgd Free Cash Flow:$ 0K
Total Debt/Equity: 221.47
Total Cash/Share: $ 4.45
Current Ratio: 1.71
Share Statistics: Stock Price History:
Shares Outstanding: 42,500K Stk 52-Week Change: 73.51%
Float: 36,890K S&P 500 52-Wk Chng: 15.36%
Sh. Short % of Float: 12.20% 50-Day Moving Avg: 20.76
Short Ratio: 7.70 200-Day Moving Avg: 21.26
% Held by Institutions: 112.10% Beta: 1.90
% Held by Insiders: 4.79%
Analysts' Estimates: Cur. Qtr Next Qtr Cur. Year Next Year
___________________________ Sep 11 Dec 11 Jun 12 Jun 13
Average Earnings Estimate 0.46 0.50 2.06 2.65
Average Revenue Estimate 30M 239M 965M 1,060M
Factors Comparing This Company to Its Industry Leader (1.0 = Average):
Long Term EPS Growth Rate (5 yr): 27.400 EPS Growth (Qrtly YoY): 5.074
PEG Ratio (ttm, 5 yr expected): %-137.000 P/E Ratio (ttm): 10.020
Revenue Growth (Qrtly YoY): 9.786
Annual Income Statements: All numbers in thousands)
Period Ending Jun30,2010 Jun30,2009 Jun30,2008
Total Revenue 610,927 527,853 572,184
Cost of Revenue 0 346,049 0
Gross Profit 0 181,804 572,184
Operating Expenses:
Research & Development 0 0 0
Selling, General & Administrative 313,854 271,227 372,845
Non-Recurring Expenses 29,074 57,920 -538
Other Operating Expenses 67,535 69,038 76,023
Total Operating Expenses 0 0 0
Operating Income or Loss 0 41,500 123,854
Income from Continuing Operations:
Total Other Income/Expenses Net -9,531 0 -97
Earnings Before Interest & Taxes 85,109 51,897 123,757
Interest Expense 0 35,099 36,569
Income Before Taxes 16,177 8,201 87,188
Income Tax Expense 21,369 15,023 36,015
Minority Interest 293 0 0
Net Income from Continuing Op.s -4,899 -6,822 51,173
Non-recurring Events:
Discontinued Operations 0 0 0
Extraordinary Items 0 0 0
Effect of Accounting Changes 0 0 0
Other Items 0 0 0
Net Income -4,899 -6,822 51,173
Preferred Stock & Other Adjustmnts 0 0 0
Net Income Avail To Common Shares -4,899 -6,822 51,173
Quarterly Income Statements: All numbers in thousands)
Period Ending Mar31,2011 Dec31,2010 Sep30,2010 Jun30,2010
Total Revenue 197,800 182,500 174,200 141,427
Cost of Revenue 0 0 0 0
Gross Profit 0 0 0 0
Operating Expenses:
Research & Development 0 0 0 0
Selling, General & Adminis. 172,500 107,400 113,900 -72,546
Non-Recurring Expenses 0 0 200 0
Other Operating Expenses -23,000 23,100 20,300 51,935
Total Operating Expenses 0 0 0 0
Operating Income or Loss 0 0 0 0
Income from Continuing Operations:
Total Other Income/Expenses Net 0 0 0 -31
Earnings Before Int. & Taxes 48,300 52,200 39,800 27,109
Interest Expense 0 0 0 0
Income Before Taxes 25,300 30,300 18,200 4,577
Income Tax Expense 9,700 10,500 6,100 9,869
Minority Interest 100 300 100 193
Net Income from Continuing Op.s 15,700 20,100 12,200 -5,099
Non-recurring Events:
Discontinued Operations 0 0 0 0
Extraordinary Items 0 0 0 0
Effect of Accounting Changes 0 0 0 0
Other Items 0 0 0 0
Net Income 15,700 20,100 12,200 -5,099
Preferred Stock & Other Adj.s 0 0 0 0
Net Income Avail To Common Shs 15,700 20,100 12,200 -5,099
Annual Balance Sheets: All Numbers in Thousands
Period Ending Jun30,2010 Jun30,2009 Jun30,2008
Current Assets:
Cash & Cash Equivalents 291,294 209,602 214,028
Short Term Investments 0 0 0
Net Receivables 17,263 7,299 11,031
Inventory 0 0 0
Other Current Assets 0 22,794 0
Total Current Assets 0 360,864 0
Long-Term Investments 138,312 114,694 127,147
Property, Plant & Equipt 67,537 58,614 68,033
Goodwill 0 406,554 419,351
Intangible Assets 608,986 454,347 51,380
Accumulated Amortization 0 0 0
Other Assets 41,752 33,503 44,076
Deferred Long Term Asset Charges 42,217 36,970 12,191
Total Assets 1,214,621 921,465 947,237
Current Liabilities:
Accounts Payable 143,650 121,720 106,828
Short/Current Long Term Debt 3,283 5,880 0
Other Current Liabilities 0 0 0
Total Current Liabilities 0 127,671 0
Long Term Debt 47,381 10,223 624,732
Other Liabilities 52,314 25,192 0
Deferred LT Liability Charges 24,341 18,947 22,352
Minority Interest 23 316 0
Negative Goodwill 0 0 0
Total Liabilities 996,301 712,703 753,912
Stockholder Equity:
Misc. Stocks Options Warrants 0 0 0
Redeemable Perferred Stock 0 0 0
Preferred Stock 0 0 0
Common Stock 24 24 24
Retained Earnings -115,480 -110,581 -95,950
Treasury Stock 0 0 0
Capital Surplus 331,090 311,301 255,197
Other Stockholder Equity 2,686 8,018 34,054
Total Stockholder Equity 218,320 208,762 193,325
Net Tangible Assets -390,666 -245,585 -277,406
Quarterly Balance Sheets: All Numbers in Thousands
Period Ending Mar31,2011 Dec31,2010 Sep30,2010 Jun30,2010
Current Assets:
Cash & Cash Equivalents 361,300 170,400 286,300 291,294
Short Term Investments 0 0 0 0
Net Receivables 29,200 36,000 17,400 17,263
Inventory 0 0 0 0
Other Current Assets 0 0 0 0
Total Current Assets 0 0 0 0
Long-Term Investments 257,400 247,400 151,100 138,312
Property, Plant & Equipt 88,700 81,500 73,700 67,537
Goodwill 728,200 0 0 0
Intangible Assets 0 716,800 619,600 608,986
Accumulated Amortization 0 0 0 0
Other Assets 52,300 50,300 49,400 41,752
Deferred LT Asset Charges 38,900 37,300 41,900 42,217
Total Assets 1,556,000 1,339,700 1,247,900 1,214,621
Current Liabilities:
Accounts Payable 162,500 130,300 134,300 143,650
Current Portion LT Debt 158,600 7,800 18,000 3,283
Other Current Liabilities 0 0 0 0
Total Current Liabilities 0 0 0 0
Long Term Debt 73,100 66,800 58,400 47,381
Other Liabilities 58,000 66,500 42,800 52,314
Deferred LT Liab. Charges 30,800 29,200 26,300 24,341
Minority Interest -500 -400 -100 23
Negative Goodwill 0 0 0 0
Total Liabilities 1,278,700 1,087,400 1,007,100 996,301
Stockholder Equity:
Misc. Options, WarrantS 0 0 0 0
Redeemable Perferred Stock 0 0 0 0
Preferred Stock 0 0 0 0
Common Stock 0 0 0 24
Retained Earnings -67,500 -83,200 -103,300 -115,480
Treasury Stock 0 0 0 0
Capital Surplus 335,300 334,600 332,500 331,090
Other Stockholder Equity 9,500 900 11,600 2,686
Total Stockholder Equity 277,300 252,300 240,800 218,320
Net Tangible Assets -450,900 -464,500 -378,800 -390,666
Annual Cash Flow: All Numbers in Thousands
Period Ending Jun30,2010 Jun30,2009 Jun30,2008
Net Income -4,899 20,100 51,173
Operating Activites:
Depreciation 25,027 19,912 20,957
Adjustments to Net Income 23,017 10,274 68,068
Changes in Accounts Recv'bls 0 -44,342 -76,478
Changes in Liabilities 47,170 41,403 26,979
Changes in Inventories 0 0 0
Changes in Other Op'ing Actv's 0 -5,563 -9,943
Total Cash Flow fr Operations 86,704 59,204 80,756
Investing Activities:
Capital Expenditures -29,395 -15,735 -23,528
Investments 0 0 0
Other Cash Flows fr Investing 0 0 0
Total Cash Flows fr Investing -184,447 -41,954 -166,956
Financing Acitivies:
Dividends Paid 0 0 0
Sale or Purchase of Stock 1,458 -4,175 1,055
Net Borrowings 200,365 -7,509 2,533
Other Cash Flows fr Financing 0 14,353 1,014
Total Cash Flows fr Financing 169,791 2,669 4,602
Effect of Exchange Rate Change 9,644 -20,031 4,681
Change in Cash & Cash Equiv.s 81,692 -112 -76,917
Quarterly Cash Flow: All Numbers in Thousands
Period Ending Mar31,2011 Dec31,2010 Sep30,2010 Jun30,2010
Net Income 15,700 20,100 12,200 -5,099
Operating Activites:
Depreciation 8,300 7,700 7,200 7,027
Adjustments to Net Income 6,600 -24,200 -5,000 8,717
Changes in Accounts Recv'bls 0 0 0 0
Changes in Liabilities 19,900 -30,000 -25,900 -1,030
Changes in Inventories 0 0 0 0
Changes in Other Oper'g Acts 0 2,700 -6,800 -2,111
Total Cash Flow f Operations 49,200 -24,000 -18,400 7,604
Investing Activities:
Capital Expenditures -11,400 -8,700 -9,400 -11,095
Investments 0 0 0 0
Other Cash Flows fr Investing 0 0 -74,700 -400
Total Cash Flows fr Investing -10,400 -83,400 -9,800 -42,347
Financing Acitivies:
Dividends Paid 0 0 0 0
Sale or Purchase of Stock 100 0 200 58
Net Borrowings 150,200 -14,500 14,200 -435
Other Cash Flows fr Financing 0 0 0 -32,032
Total Cash Flows fr Financing 150,300 -14,500 14,400 -32,409
Effect of Exchange Rate Chg 0 6,000 8,800 -12,556
Change in Cash & Cash Equiv. 190,900 -115,900 -5,000 -79,708
DLLR Dollar Financial Corp. [Indices near +3.0 or near zero,
or < zero bear special attention.]
P/E Ratio Tests:
Current P/E Ratio < 28? 2.0483 P/E Ratio > 5? 1.0000
P/E Ratio Vs Growth Rate: -0.6200 Forward P/E Ratio < 28? 3.0000
Sales Tests:
Price/Sales Ratio < 2.3? 1.9328 Inventory/Sales < 5%? 1.0000
Sales < $1 billion? 1.6369 Operating Margin < 7.5%? 0.2882
Balance Sheet Tests:
Debt/Equity < 0.40? 0.0018 Long-Term Debt Service: 3.0000
LTD Being Reduced? 0.6000 Short-Term Debt Service: 3.0000
Current Ratio > 2? 0.8550 Working Capital >= 1.5? 1.0000
Leverage Ratio < 20%? 3.0000 Debt / Assets < 1? 3.0000
Quick Ratio > 1? 1.0000 Inventory Turnover > 1? 1.0000
Shares Out Decreasing? 1.2000 Market Cap.> 1.5 Billion? 1.5548
Profit Margin > 7.5%? 1.1133
Income Tests:
Dividend Yield > 2.0%? 0.0000 EPS Annual Growth > 10%? 2.9600
Enterprise Value/Revenue: 1.4333 EPS 5-yr Growth > 20%? 1.0480
Enterprise Value/EBITDA: 1.0257 EPS Growth Consistent? 1.8000
EPS Qrtly Growth > 10%? 3.0000 Collection < 45 days? 3.0000
Rev. Qtrly Growth > 15%? 3.0000 Gross Pft/Cur. LTD < 1? 0.0000
EPS Annual Growth > 10%? 2.9600 Borrowing Int. Rate< 6%? 1.0000
Stock Performance Tests:
Volatility > 25%? 2.6970 % Held by Insiders < 5%? 1.0438
Beta > 1.25? 1.5200 % Held by Institut. < 50? 0.4460
50 Da MA > 200 Da MA? -0.0661 % Held by Institut. > 30? 3.0000
52-Wk Change vs. S&P 500: 1.0241 Short Ratio > 5? 1.5400
Price/Book Value < 3? 1.8000 Short % of Float > 20? 0.6100
Return on Assets > 17%? 0.5241 Average Volume > 100,000? 3.0000
Cash Flow Tests:
Oper. C.F. > Lever'd C.F: 1.0000 Positive Free Cash Flow? 0.0000
Positive Oper. Cash Flow? 0.0000 Price to C.F./sh. Ratio: 0.0000
Cash Flow / Assets >.10? 0.0000
DLLR Dollar Financial Corp. Overall Zenith Index: 1.4289
Financial Statements |
Financial Ratios |
. . . . . . . . . . . . 1 = Highest , 10 = Lowest
Market Grader |
Intrinsic Value (DCF) |
Intrinsic Value by Discounted Cash Flow Method:
Intrinsic Value (PEG) |
Intrinsic Value by Projected Earnings Growth Method:
Stock Scout |
We find "Scout" to be a bit biased toward the high end, so anything under a 6 is considered a negative, 6 and above, positive.
Projected Earnings |
Research Reports |
Analysts' Opinions |
Insider Activity |
Institutional Activity |
Institutional Orders to Buy or Sell:
Sentiment |
Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.
Short Interest Ratio |
As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.
Stock Report |
Management's Discussion of Results of Operations Excerpts |
Moving Average Chart |
Right Time Study |
Channeling Potential |
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility. Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.
Results for DFC Global Inc.:
Symbol? DLLR
Total Months Available: 79
Months in Cycle? 4
Months Covered by Periods: 12
Period 1 Period 2 Period 3
H1 L1 H2 L2 H3 L3
19.07 11.65 23.41 18.64 23.50 17.41
RANGE = 23.50 TO 11.65 Close = 22.70
CHANNEL = 19.07 TO 18.64 Degree = 0
Volatility = 1.91% Index = 0
Intraday Chart |
20 Days:
Stock Fetcher |
Point & Figure Chart |
Wall Street Analyzer |
Marketspace Chart |
Time Series Forecast |
Neural Network Prediction |
"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."
Ultimate Trading Systems |
The corresponding trades for the above chart are shown in tabular form below.
Recommendation |
| Factors | Weighted Points |
|---|---|
| News | + 1 |
| Comparison | - 1 |
| Industry | + 1 |
| Bond Issue | 0 |
| Zenith Index | + 1 |
| Non-GAAP vs. GAAP Earnings < 1% | + 1 |
| Cash Flow | + 1 |
| Ratios | - 1 |
| Market Grader | - 1 |
| Intrinsic Value DCF | - 1 |
| Intrinsic Value DDM | + 1 |
| Stock Scout | 0 |
| Projected Earnings | + 1 |
| Research Reports | + 1 |
| Analysts | + 1 |
| Executive Perquisites | - 1 |
| Insider Activity | - 1 |
| Institutional Activity | + 1 |
| Management Reporting | + 1 |
| Short Interest | + 1 |
| Sentiment | - 1 |
| Standard & Poor's | - 1 |
| Moving Average | + 1 |
| Right Time Study | - 1 |
| Stock Fetcher | - 1 |
| Point & Figure | + 1 |
| Wall Street Analyzer | - 1 |
| Marketspace Chart | + 1 |
| Time Series Chart | + 1 |
| Neural Network | + 1 |
| Stock Options | - 1 |
| Ultimate Trading Systems | - 1 |
| Total | + 4 |
Place 1,360 shares of DFC Global Inc. (DLLR) on the Active List.
