Financials Core Laboratories Inc.

Equities

CLB

US21867A1051

Business Support Services

Market Closed - Nyse Other stock markets 04:02:01 2024-04-26 pm EDT			5-day change	1st Jan Change
16.94 ^USD	-0.76%		-1.40%	-4.08%

Apr. 25	Transcript : Core Laboratories Inc., Q1 2024 Earnings Call, Apr 25, 2024
Apr. 24	Earnings Flash (CLB) CORE LABORATORIES Reports Q1 Revenue $129.6M, vs. Street Est of $124.5M	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,672	1,180	1,033	939.9	825.1	794.5	-	-
Enterprise Value (EV) ¹	1,966	1,425	1,204	1,097	973.2	926.5	873.5	809.5
P/E ratio	16.5 x	-12.1 x	53.1 x	48.3 x	20.5 x	17.8 x	15.5 x	16.4 x
Yield	5.84%	1.06%	0.18%	0.2%	0.23%	0.24%	0.24%	0.24%
Capitalization / Revenue	2.5 x	2.42 x	2.2 x	1.92 x	1.62 x	1.48 x	1.38 x	1.39 x
EV / Revenue	2.94 x	2.92 x	2.56 x	2.24 x	1.91 x	1.73 x	1.51 x	1.42 x
EV / EBITDA	14.5 x	18.4 x	17 x	17.7 x	12.6 x	11.8 x	9.23 x	8.09 x
EV / FCF	29.2 x	31 x	52.2 x	74.4 x	68.5 x	23 x	15 x	11.7 x
FCF Yield	3.42%	3.23%	1.91%	1.34%	1.46%	4.35%	6.68%	8.52%
Price to Book	9.23 x	15.6 x	6.47 x	5.02 x	-	-	-	-
Nbr of stocks (in thousands)	44,375	44,495	46,290	46,371	46,724	46,900	-	-
Reference price ²	37.67	26.51	22.31	20.27	17.66	16.94	16.94	16.94
Announcement Date	1/29/20	1/27/21	2/2/22	2/1/23	1/31/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	668.2	487.3	470.3	489.7	509.8	535.3	576.9	571.9
EBITDA ¹	135.8	77.44	70.81	61.98	76.96	78.26	94.66	100
EBIT ¹	113.2	56.58	52.29	44.82	61.18	66.15	82.96	84.3
Operating Margin	16.95%	11.61%	11.12%	9.15%	12%	12.36%	14.38%	14.74%
Earnings before Tax (EBT) ¹	81.99	-91.18	36.11	-	41.21	41	53	65
Net income ¹	102	-97.64	19.73	19.45	40.94	38.3	51.8	49.03
Net margin	15.26%	-20.04%	4.19%	3.97%	8.03%	7.16%	8.98%	8.57%
EPS ²	2.280	-2.200	0.4200	0.4200	0.8600	0.9500	1.090	1.030
Free Cash Flow ¹	67.26	45.99	23.04	14.74	14.21	40.3	58.32	69
FCF margin	10.07%	9.44%	4.9%	3.01%	2.79%	7.53%	10.11%	12.06%
FCF Conversion (EBITDA)	49.51%	59.38%	32.54%	23.78%	18.46%	51.5%	61.62%	68.97%
FCF Conversion (Net income)	65.95%	-	116.79%	75.77%	34.71%	105.21%	112.59%	140.73%
Dividend per Share ²	2.200	0.2800	0.0400	0.0400	0.0400	0.0400	0.0400	0.0400
Announcement Date	1/29/20	1/27/21	2/2/22	2/1/23	1/31/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	125.1	115.3	120.9	126	127.6	128.4	127.9	125.3	128.2	129.6	131.3	136	139.2	140	144.3
EBITDA ¹	18.57	11.74	13.97	17.51	18.76	18.55	19.56	19.93	18.92	18.79	18.42	21.07	22.53	22.33	24
EBIT ¹	14.17	7.184	9.607	13.34	14.69	14.51	15.62	16	15.05	14.95	15.73	17.78	19.45	17	19
Operating Margin	11.32%	6.23%	7.95%	10.59%	11.51%	11.3%	12.22%	12.76%	11.74%	11.53%	11.98%	13.07%	13.97%	12.14%	13.16%
Earnings before Tax (EBT) ¹	11.61	-3.035	-	-	-	3.052	15.67	11.52	10.96	5.148	10	11	13	10	12
Net income ¹	2.688	-1.888	7.066	7.524	6.751	2.373	22.85	9.257	6.463	3.22	9.049	10.52	12.29	7	9
Net margin	2.15%	-1.64%	5.84%	5.97%	5.29%	1.85%	17.87%	7.39%	5.04%	2.48%	6.89%	7.74%	8.83%	5%	6.24%
EPS ²	0.0600	-0.0400	0.1500	0.1600	0.1400	-	0.4800	0.1900	0.1400	0.0700	0.1850	0.2200	0.2550	0.1600	0.2000
Dividend per Share ²	0.0100	0.0100	0.0100	0.0100	0.0100	0.0100	0.0100	0.0100	0.0100	0.0100	0.0100	0.0100	0.0100	0.0100	0.0100
Announcement Date	2/2/22	4/27/22	7/27/22	10/26/22	2/1/23	4/26/23	7/26/23	11/1/23	1/31/24	4/24/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	294	246	171	157	148	132	79	15
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.166 x	3.172 x	2.414 x	2.532 x	1.923 x	1.687 x	0.8346 x	0.1499 x
Free Cash Flow ¹	67.3	46	23	14.7	14.2	40.3	58.3	69
ROE (net income / shareholders' equity)	46.6%	27.3%	27.9%	15.7%	17.9%	13%	17.9%	19%
ROA (Net income/ Total Assets)	11.2%	5.23%	5.74%	4.62%	6.48%	5.2%	6.3%	7.3%
Assets ¹	907.4	-1,867	343.5	421.2	632.2	736.6	822.2	671.7
Book Value Per Share	4.080	1.700	3.450	4.040	-	-	-	-
Cash Flow per Share ²	2.010	1.300	0.7800	0.5300	0.5200	1.300	1.600	1.750
Capex ¹	22.3	11.9	13.5	10.2	10.6	14.1	14.2	14
Capex / Sales	3.33%	2.44%	2.88%	2.09%	2.08%	2.63%	2.47%	2.44%
Announcement Date	1/29/20	1/27/21	2/2/22	2/1/23	1/31/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Core Laboratories Inc.

Trading Rating

Investor Rating

ESG Refinitiv

B+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

16.94 USD

Average target price

19.22 USD

Spread / Average Target

+13.47%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Testing Laboratories

	1st Jan change	Capi.
CORE LABORATORIES INC.	-4.08%	794M
SGS SA	+14.61%	17.2B
UL SOLUTIONS INC.	0.00%	6.8B
CENTRE TESTING INTERNATIONAL GROUP CO. LTD.	-12.39%	2.88B
CHINA AUTOMOTIVE ENGINEERING RESEARCH INSTITUTE CO., LTD.	-11.15%	2.72B
HEFEI CHIPMORE TECHNOLOGY CO.,LTD.	-31.21%	1.74B
GRG METROLOGY & TEST GROUP CO., LTD.	+5.00%	1.25B
CHINA NATIONAL ELECTRIC APPARATUS RESEARCH INSTITUTE CO., LTD.	-7.31%	1.06B
CHINA TESTING & CERTIFICATION INTERNATIONAL GROUP CO.,LTD.	-6.67%	870M
SPORTON INTERNATIONAL INC.	+0.62%	757M

Testing Laboratories