Corporate Webpages Pentair, plc.
Pentair plc ("Public Limited Company -- British equivalent of the
U.S. corporation or "Inc.") is a maker of aquatic systems, filtration
solutions, and flow technologies, including pumps, filters, valves,
automatic cleaners, service and construction, agricultural
irrigation and crop spray equipment. It serves residential
where backyard pool applications are familiar to many
homeowners, and also commercial, industrial, municipal &
infrastructure applications, and agriculture. The company has
an interesting website but it was flawed for our equipment which
was able to read residential applications, but not any of the
other four categories, commercial, industrial, government, etc.
The company is based in England, and we had some problems
interpreting its "Management Discussion of Operation Results."
One of the main reasons for this was a recent decision to spin
off half the company, its "electrical segment" nVent, now an NYSE
listed stock under the symbol NVT. This resulted in some proforma
accounting and charges we did not completely comprehend, so gave
it a bad Management Discussion score. The fact that it is foreign-
based did not help understanding in standard SEC reporting format.
When a company divests, we regard it as a bad sign, especially
for the portion that was not spun off. Researchers are essentially
negative on the stock, analysts more neutral to positive. Institutions
are net acquirers.
News on this company includes shut downs of considerable
portions of its production facilities and plants.
The Gabelli & Co. report under "Researchers" in this article is particularly
worth noting because it deals a bit with the split of the company into
two separate publicly-traded entities.
The company has a strong Zenith Index indicating strong
financials, although some researchers disagree with us on valuation.
The stock has held up better than most through the recent market
meltdown suggesting that it is low risk.
04-09-2020: Pentair, plc. (PNR): Split Itself in Half
(WAIT FOR PAGE TO LOAD COMPLETELY BEFORE LINKS WORK.)
Company Profile
Company History
News
Comparison with Peers
Bond Issue
Zenith Index
Financial Statements
Avg. P/E to Current P/E
Financial Ratios
Intrinsic Value (Disc. CashFlow)
Fair Value Estimator
Projected Earnings
Research Reports
Analysts' Opinions
Insider Activity
Institutional Activity
Sentiment
Short Interest
Standard & Poor's
Management's Discussion
Channel Potential
MACD Histogram
Intraday Chart
Val Idea
Stock Consultant
Point & Figure Chart
Wall Street Analyzer
Marketspace Chart
Time Series Forecast
Neural Network Prediction
Stock Options
Ultimate Trading Systems
Recommendation
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 considered 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.
Pentair plc (PNR) Exchange: NYSE
Regal House
70 London Road Twickenham Sector: Industrials
London TW13 QS Industry: Specialty Industrial Machinery
United Kingdom
Pentair plc provides various smart water solutions worldwide. It
operates through three segments: Aquatic Systems, Filtration Solutions,
and Flow Technologies. The Aquatic Systems segment manufactures and
sells residential and commercial pool equipment and accessories,
including pumps, filters, heaters, lights, automatic controls, automatic
cleaners, maintenance equipment, and pool accessories for residential
and commercial pool maintenance, pool repair, renovation, service and
construction, and aquaculture solution applications. This segment offers
its products under the Kreepy Krauly, Pentair, and Sta-Rite brand names.
The Filtration Solutions segment designs, manufactures, and markets
components and systems, such as point-of-entry and point-of-use
filtration, valves, and automated controls for residential and
commercial applications, as well as advanced filtration, oil and gas
separation, membrane technology, and energy recovery for food and
beverage, and industrial applications. This segment offers its products
under the Codeline, Everpure, Haffmans, Pelican, RainSoft, S++dmo, and
X-Flow brand names. The Flow Technologies segment manufactures and sells
light duty diaphragm pumps, high-flow turbine pumps, and solid handling
pumps. Its pumps are used in residential and municipal wells, water
treatment, wastewater solids handling, pressure boosting, fluid
delivery, circulation and transfer, fire suppression, flood control,
agricultural irrigation, and crop spray applications. This segment
offers its products under the Aurora, Berkeley, Fairbanks-Nijhuis,
Hydromatic, Hypro, Jung Pumpen, Pentair, Myers, Sta-Rite, and Shurflo
brand names. It serves businesses engaged in wholesale and retail
distribution in the residential and commercial, food and beverage, and
industrial verticals, as well as end-users, consumers, and original
equipment manufacturers. Pentair plc was founded in 1966 and is
headquartered in London, the United Kingdom.
Last Trade: 32.69 52-Week Range: 47.43 - 22.01
Employees: 9,500 Avg.Volume: 1,422,442 Shares
Corporate Governance:
Pllar scores are Audit: 1; Board: 1; Shareholder Rights: 6; Compensation: 9.
(A lower number means less governance risk.)
EPS: 2.09 Dividend Amount: $ 0.76 Yield: 2.32%
Ex-Dividend Date: Apr 15, 2020 Payout Ratio: 33.96
Key Statistics:
Trailing P/E: 16.12 Forward P/E (est.): 13.83
Target Price: 37.19
Qrtly Stock Price Growth (yoy): -18.23% Beta: 1.23
Qrtly S&P Index Growth (yoy): 2.00% Short Ratio: 2.07%
Qrtly Revenue Growth (yoy): 52.00% Shares Out: 167640000
Qrtly Earnings Growth (yoy): 5.30%
Book Value: 11.61 Debt/Equity: 56.77%
Price/Book Value: 2.69 Operating Profit Margin: 15.12%
Price/Sales: 1.80 Profit Margin: 12.03%
Market Cap: 5,634,000,000 Return on Equity: 19.09%
Enterprise Value: 6,270,000,000 Return on Assets: 7.03%
Operating Cash Flow: 353,000
Free Cash Flow: 4,000
Annual Income Statement: (All numbers in thousands)
Period Ending 12/31/2019 12/31/2018 12/31/2017
Total Revenue 2,957,200 2,965,100 4,936,500
Cost of Revenue 1,905,700 1,917,400 3,107,400
Gross Profit 1,051,500 1,047,700 1,829,100
Operating Expenses:
Research & Development 78,900 76,700 115,800
Selling, General & Administrative 540,100 534,300 1,032,500
Total Operating Expenses 619,000 611,000 1,148,300
Operating Income or Loss 432,500 436,700 680,800
Income from Continuing Operations:
Total Other Income/Expenses Net 5,100 -24,300 -104,300
Interest Expense 30,100 32,600 97,200
Income Before Taxes 407,500 379,800 489,200
Income Tax Expense 45,800 58,100 9,200
Net Income from Continuing Op.s 361,700 321,700 480,000
Non-recurring Events:
Extraordinary Items 6,000 -25,700 -186,500
Net Income 355,700 347,400 666,500
Net Income Avail to Common Shares 355,700 347,400 666,500
Annual Cash Flow Statement: (All numbers in thousands)
Period Ending 12/31/2019 12/31/2018 12/31/2017
Net Income 361,700 321,700 480,000
Operating Activities:
Depreciation 80,000 84,600 182,900
Changes in Accounts Recv'bls -17,500 -15,300 -30,900
Changes in Liabilities 294,500 390,900 549,300
Changes in Inventories 13,600 -40,100 -29,400
Changes in other Oper'g Acts -96,000 7,000 -18,600
Total Cash Flow f Operations 353,000 439,100 620,200
Investing Activities:
Capital Exenditures -58,500 -48,200 -70,900
Investments -287,800 -13,700 -59,500
Other Cash Flows fr Investing -1,500 0 0
Total Cash Flows from Investing -331,900 -68,800 2,630,400
Financing Activities:
Dividends Paid -122,700 -187,200 -251,700
Sale of Purchase of Stock -150,000 -150,000 -150,000
Other Cash Flows fr Financing -6,900 901,400 0
Total Cash Flows from Financing -17,100 -407,900 -3,432,600
Change in Cash & Cash Equiv. 8,200 -12,000 -125,200
Annual Balance Sheets: (All Numbers in Thousands)
Period Ending 12/31/2019 12/31/2018 12/31/2017
Current Assets:
Cash & Cash Equivalents 82,500 74,300 113,300
Short Term Investments 0 0 0
Net Receivables 502,900 488,200 831,600
Inventory 377,400 387,500 581,000
Other Current Assets 4,600 7,700 5,500
Total Current Assets 1,061,900 1,039,400 1,748,800
Long-Term Investments 957,800 841,900 1,473,800
Property, Plant & Equipt 360,400 272,600 545,500
Goodwill 2,258,300 2,072,700 4,351,100
Intangible Assets 339,200 276,300 1,558,400
Other Assets 68,800 98,400 83,200
Total Assets 4,139,500 3,806,500 8,633,700
Current Liabilities:
Accounts Payable 325,100 378,600 495,700
Current Portion LT Debt 131,800 116,700 173,500
Other Current Liabilities 136,500 149,200 219,500
Total Current Liabilities 749,000 818,700 1,199,400
Long Term Debt 1,029,100 787,600 1,440,700
Other Liabilities 67,300 69,900 86,100
Total Liabilities 2,185,600 1,970,400 3,595,900
Stockholder Equity:
Common Stock 1,700 1,700 1,800
Retained Earnings 401,000 169,200 2,481,700
Capital Surplus -226,500 -228,600 -243,400
Total Stockholder Equity 1,953,900 1,836,100 5,037,800
Pentair plc (PNR) [Indices near +3.0, near zero,
or < zero bear special attention.]
P/E Ratio Tests:
P/E Ratio < 28? 1.7370 P/E Ratio > 5? 1.0000
P/E Ratio Vs Growth Rate: 3.0000 Forward P/E Ratio < 28? 2.0243
Price/Sales Ratio < 2.3? 1.2764 Inventory/Sales < 5%? 0.3918
Sales < $1 Billion? 0.3382 Operating Margin < 7.5%? 0.4960
Balance Sheet Tests:
Debt/Equity < 0.40? 0.7046 Long-Term Debt Service: 1.8986
LTD Being Reduced? 0.0000 Short-Term Debt Service: 0.0000
Current Ratio > 2? 0.7089 Working Capital >= 1.5? 1.0721
Leverage Ratio < 20%? 0.2064 Debt/Assets < 1? 3.0000
Quick Ratio > 1? 3.0000 Inventory Turnover > 1? 0.6097
Share Equity Increase: 1.4286 Market Cap.< 1.5 Billion? 0.2662
Intangibles < 3% Assets? 0.0478
Income Tests:
Profit Margin < 7.5%? 1.6040 EPS Annual Growth > 10%? 0.0977
Dividend Yield > 2.0%? 0.8621 EPS 3-yr Growth > 15? 0.2811
Enterprise Value/Revenue 1.9055 EPS Growth Consistent? 0.0000
Enterprise Value/EBITDA: 3.0000 Collection < 45 days? 0.7250
EPS Qrtly Growth > 10%? 0.0189 Gross Pft/Cur. LTD > 1? 3.0000
Borrowing Int. Rate < 6%? 2.0514
Stock Performance Tests:
Volatility > 25%? 2.1438 % Held by Insiders < 5%? 3.0000
Beta > 1.25? 0.9840 % Held by Institut. < 50? 0.5442
50 Da MA > 200 Da MA? -0.5910 % Held by Institut. > 30? 3.0000
52-Wk Change vs. S&P 500: -0.3506 Short Ratio > 5? 0.4140
Price/Book Value < 3? 3.0000 Short % of Float > 20? 0.1060
Return on Assets > 17%? 0.4135 Average Volume > 100,000? 3.0000
Cash Flow Tests:
Oper. C.F. > Lever'd C.F: 3.0000 Positive Free Cash Flow? 3.0000
Positive Oper. Cash Flow? 3.0000 Price to C.F.Ratio < 14?: 1.7444
Cash Flow / Assets > 10%? 1.6959
PNR Pentair plc Overall Zenith Index: 1.3251
Financial Statements |
PENTAIR PLC (PNR) INCOME STATEMENT Fiscal year ends in December. USD in thousand 2015-12 2016-12 2017-12 2018-12 2019-12 TTM Revenue 6,449,000 4,890,000 4,936,500 2,965,100 2,957,200 2,957,200 Cost of revenue 4,263,200 3,095,900 3,107,400 1,917,400 1,905,700 1,905,700 Gross profit 2,185,800 1,794,100 1,829,100 1,047,700 1,051,500 1,051,500 Operating expenses Research and development 119,600 114,100 115,800 76,700 78,900 78,900 Sales, General and administrative 1,334,300 979,300 1,032,500 534,300 540,100 540,100 Total operating expenses 1,453,900 1,093,400 1,148,300 611,000 619,000 619,000 Operating income 731,900 700,700 680,800 436,700 432,500 432,500 Interest Expense 108,700 148,400 97,200 32,600 30,100 30,100 Other income (expense) -549,100 8,700 -94,400 -24,300 5,100 5,100 Income before taxes 74,100 561,000 489,200 379,800 407,500 407,500 Provision for income taxes 139,100 109,400 9,200 58,100 45,800 45,800 Net income from continuing operations -65,000 451,600 480,000 321,700 361,700 361,700 Net income from discontinuing ops -11,400 70,600 186,500 25,700 -6,000 -6,000 Net income -76,400 522,200 666,500 347,400 355,700 355,700 Net income available to common shareholders -76,400 522,200 666,500 347,400 355,700 355,700 Earnings per share Basic -0.42 2.88 3.67 1.98 2.10 2.10 Diluted -0.42 2.85 3.63 1.96 2.09 2.09 Weighted average shares outstanding Basic 180,300 181,300 181,700 175,800 169,400 169,400 Diluted 182,600 183,100 183,700 177,300 170,400 170,400 ____________________________________________________________________________________________________________________________________________ PENTAIR PLC (PNR) BALANCE SHEET Fiscal year ends in December. USD in thousand 2015-12 2016-12 2017-12 2018-12 2019-12 Assets Current assets Cash Total cash 126,300 238,500 113,300 74,300 82,500 Receivables 1,167,700 764,000 831,600 488,200 502,900 Inventories 1,174,300 524,200 581,000 387,500 377,400 Deferred income taxes 96,700 0 0 0 0 Prepaid expenses 87,600 135,900 96,000 45,200 53,500 Other current assets 128,000 1,009,400 126,900 44,200 45,600 Total current assets 2,780,600 2,672,000 1,748,800 1,039,400 1,061,900 Non-current assets Property, plant and equipment Gross property, plant and equipment 2,047,600 1,402,300 1,473,800 841,900 957,800 Accumulated Depreciation -1,104,800 -863,700 -928,300 -569,300 -597,400 Net property, plant and equipment 942,800 538,600 545,500 272,600 360,400 Goodwill 5,255,400 4,217,400 4,351,100 2,072,700 2,258,300 Intangible assets 2,490,100 1,631,800 1,558,400 276,300 339,200 Deferred income taxes 62,800 39,000 43,000 26,200 29,600 Other long-term assets 325,300 2,436,000 386,900 119,300 90,100 Total non-current assets 9,076,400 8,862,800 6,884,900 2,767,100 3,077,600 Total assets 11,857,000 11,534,800 8,633,700 3,806,500 4,139,500 Liabilities and stockholders' equity Liabilities Current liabilities Short-term debt 700 800 0 0 0 Capital leases 0 0 0 0 19,000 Accounts payable 578,800 436,600 495,700 378,600 325,100 Taxes payable 0 87,300 31,100 10,400 11,100 Accrued liabilities 59,800 117,100 173,500 116,700 131,800 Deferred revenues 126,600 22,500 29,900 21,300 22,500 Other current liabilities 720,600 806,900 469,200 291,700 239,500 Total current liabilities 1,486,500 1,471,200 1,199,400 818,700 749,000 Non-current liabilities Long-term debt 4,709,300 4,278,400 1,440,700 787,600 1,029,100 Capital leases 0 0 0 0 61,100 Deferred taxes liabilities 844,200 609,500 394,800 105,900 104,400 Deferred revenues 0 0 0 0 21,300 Pensions and other benefits 287,200 253,400 285,600 90,000 96,400 Other long-term liabilities 521,000 667,900 275,400 168,200 124,300 Total non-current liabilities 6,361,700 5,809,200 2,396,500 1,151,700 1,436,600 Total liabilities 7,848,200 7,280,400 3,595,900 1,970,400 2,185,600 Stockholders' equity Common stock 1,800 1,800 1,800 1,700 1,700 Additional paid-in capital 2,860,300 2,920,800 2,797,700 1,893,800 1,777,700 Retained earnings 1,791,700 2,068,100 2,481,700 169,200 401,000 Accumulated other comprehensive income -645,000 -736,300 -243,400 -228,600 -226,500 Total stockholders' equity 4,008,800 4,254,400 5,037,800 1,836,100 1,953,900 Total liabilities and stockholders' equity 11,857,000 11,534,800 8,633,700 3,806,500 4,139,500 ____________________________________________________________________________________________________________________________________________ PENTAIR PLC (PNR) Statement of CASH FLOW Fiscal year ends in December. USD in thousand 2015-12 2016-12 2017-12 2018-12 2019-12 TTM Cash Flows From Operating Activities Net income -65,000 451,600 480,000 321,700 361,700 361,700 Depreciation & amortization 260,900 181,000 182,900 84,600 80,000 80,000 Investment/asset impairment charges 554,700 13,300 32,000 12,000 21,200 21,200 Deferred income taxes 3,000 -16,100 -159,700 -4,100 -18,400 -18,400 Stock based compensation 33,000 34,200 39,600 20,900 21,400 21,400 Change in working capital -26,200 28,500 -18,600 7,000 -96,000 -96,000 Accounts receivable 48,800 21,300 -30,900 -15,300 -17,500 -17,500 Inventory 1,400 34,300 -29,400 -40,100 13,600 13,600 Accounts payable -8,100 38,000 32,600 58,300 -63,600 -63,600 Other working capital -68,300 -65,100 9,100 4,100 -28,500 -28,500 Other non-cash items -21,100 168,900 64,000 -3,000 -16,900 -16,900 Net cash provided by operating activities 739,300 861,400 620,200 439,100 353,000 353,000 Cash Flows From Investing Activities Investments in property, plant, and equipmen -134,300 -117,800 -70,900 -48,200 -58,500 -58,500 Property, plant, and equipment reductions 27,300 24,700 7,900 200 600 600 Acquisitions, net -1,913,900 -25,000 2,699,900 -13,700 -272,500 -272,500 Other investing activities 55,400 -3,700 -6,500 -7,100 -1,500 -1,500 Net cash used for investing activities -1,965,500 -121,800 2,630,400 -68,800 -331,900 -331,900 Cash Flows From Financing Activities Debt issued 2,078,300 800 0 39,700 651,500 651,500 Debt repayment -358,900 -386,000 -2,923,200 -675,100 -401,500 -401,500 Common stock repurchased -200,000 0 -200,000 -500,000 -150,000 -150,000 Excess tax benefit from stock based compe 6,000 8,000 0 0 0 0 Dividend paid -231,700 -243,600 -251,700 -187,200 -122,700 -122,700 Other financing activities -7,400 20,700 -57,700 914,700 5,600 5,600 Net cash provided by (used for) financing 1,286,300 -600,100 -3,432,600 -407,900 -17,100 -17,100 Effect of exchange rate changes -44,200 -27,300 56,800 -1,400 4,200 4,200 Net change in cash 15,900 112,200 -125,200 -39,000 8,200 8,200 Cash at beginning of period 110,400 126,300 238,500 86,300 74,300 74,300 Cash at end of period 126,300 238,500 113,300 47,300 82,500 82,500 Free Cash Flow Operating cash flow 739,300 861,400 620,200 439,100 353,000 353,000 Capital expenditure -134,300 -117,800 -70,900 -48,200 -58,500 -58,500 Free cash flow 605,000 743,600 549,300 390,900 294,500 294,500 ____________________________________________________________________________________________________________________________________________
Average to Current P/E Ratios |
(PNR) Pentair PLC
2015 2016 2017 2018 2019
Annual Earnings: -0.39 2.85 2.64 1.96 2.09
Average Price During Year: 40.84 38.28 42.80 44.72 39.32
P/E Ratio: 104.71 13.43 16.21 22.82 18.81
Average 5-Year P/E Ratio = 35.20
Current Price = 30.84
Previous 5 Quarter Earnings: 0.53 0.30 0.67 0.55 0.58
Current Annualized (Last Four Quarters) Earnings = 1.80
________
Average PE / Current PE = 2.05
--------
...a number above 1.00 is good
1.00 or below is bad
Financial Ratios |
. . . . . . . . . . . . Lowest to Highest, Compared to Industry
Intrinsic Value (DCF) |
Intrinsic Value by Discounted Cash Flow Method:
Fair Value Estimator |
Fair Value Estimate:
Projected Earnings |
Research Reports |
Analysts' Opinions |
Insider Activity |
Institutional Activity |
Institutional Ownership:
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.
Standard & Poor's |
Management's Discussion of Results of Operations Excerpts |
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 PENTAIR PLC:
Symbol? PNR
Total Months Available: 25
Months in Cycle? 4
Months Covered by Periods: 12
Period 1 Period 2 Period 3
H1 L1 H2 L2 H3 L3
41.00 34.72 44.62 34.50 47.43 22.01
RANGE = 47.43 TO 22.01 Close = 32.69
CHANNEL = 41.00 TO 34.72 Degree = 2
Volatility = 19.21% Index = 3
MACD Histogram Divergence |
The theory is that connecting the two most recent peaks or valleys of the MACD histogram will signal the direction of the next major move.
Intraday Chart |
2 Days:
Val Idea |
3 out of 8 favorable, (negative opinion.)
Stock Consultant |
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 |
2 out of 3 of the ultimate systems favor an upmove.
System Below:
Short term outlook: Positive: Bright Green, Negative: Bright Red
Long term outlook: Postive: Dark Green, Negative: Dark Red.
Recommendation |
| Factors | Weighted Points |
|---|---|
| News | - 1 |
| Comparison | + 1 |
| Industry | + 1 |
| Bond Issue | + 1 |
| Zenith Index | + 1 |
| Non-GAAP vs. GAAP Earnings | - 1 |
| Cash Flow | + 1 |
| Average to Current P/E | + 1 |
| Ratios | + 1 |
| Intrinsic Value DCF | + 1 |
| Fair Value Estimator | - 1 |
| 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 |
| MACD Histogram Divergence | + 1 |
| Val Idea | - 1 |
| Stock Consultant | - 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 | + 7 |
Place 960 shares of Pentair PLC (PNR) on the Active List.
