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FLEETCOR TECHNOLOGIES INC (FLT) Stock Fundamental Analysis

NYSE:FLT - New York Stock Exchange, Inc. - US3390411052 - Common Stock - Currency: USD

303.26  -2.54 (-0.83%)

After market: 303.26 0 (0%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to FLT. FLT was compared to 101 industry peers in the Financial Services industry. While FLT belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. FLT is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

In the past year FLT was profitable.
In the past year FLT had a positive cash flow from operations.
In the past 5 years FLT has always been profitable.
Each year in the past 5 years FLT had a positive operating cash flow.
FLT Yearly Net Income VS EBIT VS OCF VS FCFFLT Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B

1.2 Ratios

FLT has a better Return On Assets (6.48%) than 83.33% of its industry peers.
The Return On Equity of FLT (29.91%) is better than 90.20% of its industry peers.
FLT's Return On Invested Capital of 12.35% is amongst the best of the industry. FLT outperforms 92.16% of its industry peers.
The Average Return On Invested Capital over the past 3 years for FLT is above the industry average of 7.71%.
Industry RankSector Rank
ROA 6.48%
ROE 29.91%
ROIC 12.35%
ROA(3y)6.51%
ROA(5y)6.62%
ROE(3y)32.25%
ROE(5y)28.37%
ROIC(3y)12.38%
ROIC(5y)11.79%
FLT Yearly ROA, ROE, ROICFLT Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 10 20 30

1.3 Margins

With a decent Profit Margin value of 26.13%, FLT is doing good in the industry, outperforming 77.45% of the companies in the same industry.
FLT's Profit Margin has declined in the last couple of years.
FLT's Operating Margin of 44.09% is amongst the best of the industry. FLT outperforms 85.29% of its industry peers.
FLT's Operating Margin has been stable in the last couple of years.
FLT has a better Gross Margin (78.18%) than 86.27% of its industry peers.
FLT's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 44.09%
PM (TTM) 26.13%
GM 78.18%
OM growth 3Y2.7%
OM growth 5Y-0.33%
PM growth 3Y-3.94%
PM growth 5Y-4.76%
GM growth 3YN/A
GM growth 5Y-4.8%
FLT Yearly Profit, Operating, Gross MarginsFLT Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 20 40 60 80

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5

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), FLT is creating some value.
FLT has less shares outstanding than it did 1 year ago.
FLT has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, FLT has an improved debt to assets ratio.
FLT Yearly Shares OutstandingFLT Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M
FLT Yearly Total Debt VS Total AssetsFLT Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 5B 10B 15B

2.2 Solvency

An Altman-Z score of 2.49 indicates that FLT is not a great score, but indicates only limited risk for bankruptcy at the moment.
FLT has a Altman-Z score of 2.49. This is amongst the best in the industry. FLT outperforms 83.33% of its industry peers.
FLT has a debt to FCF ratio of 4.13. This is a neutral value as FLT would need 4.13 years to pay back of all of its debts.
With a decent Debt to FCF ratio value of 4.13, FLT is doing good in the industry, outperforming 66.67% of the companies in the same industry.
FLT has a Debt/Equity ratio of 1.80. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.80, FLT is doing worse than 70.59% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.8
Debt/FCF 4.13
Altman-Z 2.49
ROIC/WACC1.57
WACC7.88%
FLT Yearly LT Debt VS Equity VS FCFFLT Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B 4B

2.3 Liquidity

FLT has a Current Ratio of 1.04. This is a normal value and indicates that FLT is financially healthy and should not expect problems in meeting its short term obligations.
With a Current ratio value of 1.04, FLT perfoms like the industry average, outperforming 43.14% of the companies in the same industry.
FLT has a Quick Ratio of 1.04. This is a normal value and indicates that FLT is financially healthy and should not expect problems in meeting its short term obligations.
FLT has a Quick ratio of 1.04. This is comparable to the rest of the industry: FLT outperforms 47.06% of its industry peers.
Industry RankSector Rank
Current Ratio 1.04
Quick Ratio 1.04
FLT Yearly Current Assets VS Current LiabilitesFLT Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B

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6

3. Growth

3.1 Past

FLT shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 5.09%.
The Earnings Per Share has been growing by 9.95% on average over the past years. This is quite good.
The Revenue has grown by 9.65% in the past year. This is quite good.
FLT shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.08% yearly.
EPS 1Y (TTM)5.09%
EPS 3Y15.12%
EPS 5Y9.95%
EPS Q2Q%9.9%
Revenue 1Y (TTM)9.65%
Revenue growth 3Y16.3%
Revenue growth 5Y9.08%
Sales Q2Q%6.08%

3.2 Future

The Earnings Per Share is expected to grow by 15.58% on average over the next years. This is quite good.
The Revenue is expected to grow by 8.73% on average over the next years. This is quite good.
EPS Next Y15.77%
EPS Next 2Y16.02%
EPS Next 3Y15.58%
EPS Next 5YN/A
Revenue Next Year7.65%
Revenue Next 2Y8.57%
Revenue Next 3Y8.73%
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
FLT Yearly Revenue VS EstimatesFLT Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1B 2B 3B 4B
FLT Yearly EPS VS EstimatesFLT Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 5 10 15 20 25

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5

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 17.92, which indicates a rather expensive current valuation of FLT.
FLT's Price/Earnings is on the same level as the industry average.
Compared to an average S&P500 Price/Earnings ratio of 29.62, FLT is valued a bit cheaper.
Based on the Price/Forward Earnings ratio of 15.48, the valuation of FLT can be described as correct.
The rest of the industry has a similar Price/Forward Earnings ratio as FLT.
FLT's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.70.
Industry RankSector Rank
PE 17.92
Fwd PE 15.48
FLT Price Earnings VS Forward Price EarningsFLT Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of FLT indicates a somewhat cheap valuation: FLT is cheaper than 69.61% of the companies listed in the same industry.
70.59% of the companies in the same industry are more expensive than FLT, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 13.4
EV/EBITDA 12.95
FLT Per share dataFLT EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 -20 40 -40 -60

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The decent profitability rating of FLT may justify a higher PE ratio.
FLT's earnings are expected to grow with 15.58% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.14
PEG (5Y)1.8
EPS Next 2Y16.02%
EPS Next 3Y15.58%

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0

5. Dividend

5.1 Amount

No dividends for FLT!.
Industry RankSector Rank
Dividend Yield N/A

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FLEETCOR TECHNOLOGIES INC

NYSE:FLT (3/22/2024, 8:04:00 PM)

After market: 303.26 0 (0%)

303.26

-2.54 (-0.83%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryFinancial Services
Earnings (Last)02-07 2024-02-07/amc
Earnings (Next)05-01 2024-05-01/amc
Inst Owners0.34%
Inst Owner Change-100%
Ins Owners6.57%
Ins Owner Change0%
Market Cap21.90B
Analysts78.26
Price Target321.23 (5.93%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-1.49%
Min EPS beat(2)-1.84%
Max EPS beat(2)-1.14%
EPS beat(4)1
Avg EPS beat(4)-0.4%
Min EPS beat(4)-1.84%
Max EPS beat(4)1.9%
EPS beat(8)5
Avg EPS beat(8)1.35%
EPS beat(12)9
Avg EPS beat(12)1.82%
EPS beat(16)13
Avg EPS beat(16)2.59%
Revenue beat(2)0
Avg Revenue beat(2)-3.06%
Min Revenue beat(2)-4.34%
Max Revenue beat(2)-1.78%
Revenue beat(4)1
Avg Revenue beat(4)-1.4%
Min Revenue beat(4)-4.34%
Max Revenue beat(4)1.23%
Revenue beat(8)5
Avg Revenue beat(8)0.27%
Revenue beat(12)8
Avg Revenue beat(12)0.79%
Revenue beat(16)10
Avg Revenue beat(16)0.64%
PT rev (1m)0.43%
PT rev (3m)9.71%
EPS NQ rev (1m)-0.02%
EPS NQ rev (3m)-6.51%
EPS NY rev (1m)0.14%
EPS NY rev (3m)0.63%
Revenue NQ rev (1m)0.01%
Revenue NQ rev (3m)-3.92%
Revenue NY rev (1m)-1.39%
Revenue NY rev (3m)-1.22%
Valuation
Industry RankSector Rank
PE 17.92
Fwd PE 15.48
P/S 5.8
P/FCF 13.4
P/OCF 12.24
P/B 6.64
P/tB N/A
EV/EBITDA 12.95
EPS(TTM)16.92
EY5.58%
EPS(NY)19.59
Fwd EY6.46%
FCF(TTM)22.64
FCFY7.46%
OCF(TTM)24.78
OCFY8.17%
SpS52.3
BVpS45.68
TBVpS-62.27
PEG (NY)1.14
PEG (5Y)1.8
Profitability
Industry RankSector Rank
ROA 6.48%
ROE 29.91%
ROCE 19.08%
ROIC 12.35%
ROICexc 14.35%
ROICexgc 146.38%
OM 44.09%
PM (TTM) 26.13%
GM 78.18%
FCFM 43.28%
ROA(3y)6.51%
ROA(5y)6.62%
ROE(3y)32.25%
ROE(5y)28.37%
ROIC(3y)12.38%
ROIC(5y)11.79%
ROICexc(3y)14.89%
ROICexc(5y)14.05%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)17.46%
ROCE(5y)16.33%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3Y7.63%
ROICexc growth 5Y0.05%
OM growth 3Y2.7%
OM growth 5Y-0.33%
PM growth 3Y-3.94%
PM growth 5Y-4.76%
GM growth 3YN/A
GM growth 5Y-4.8%
F-Score7
Asset Turnover0.25
Health
Industry RankSector Rank
Debt/Equity 1.8
Debt/FCF 4.13
Debt/EBITDA 2.96
Cap/Depr 45.7%
Cap/Sales 4.09%
Interest Coverage 3.7
Cash Conversion 89.3%
Profit Quality 165.65%
Current Ratio 1.04
Quick Ratio 1.04
Altman-Z 2.49
F-Score7
WACC7.88%
ROIC/WACC1.57
Cap/Depr(3y)43.97%
Cap/Depr(5y)38.02%
Cap/Sales(3y)4.15%
Cap/Sales(5y)3.71%
Profit Quality(3y)119.4%
Profit Quality(5y)135.52%
High Growth Momentum
Growth
EPS 1Y (TTM)5.09%
EPS 3Y15.12%
EPS 5Y9.95%
EPS Q2Q%9.9%
EPS Next Y15.77%
EPS Next 2Y16.02%
EPS Next 3Y15.58%
EPS Next 5YN/A
Revenue 1Y (TTM)9.65%
Revenue growth 3Y16.3%
Revenue growth 5Y9.08%
Sales Q2Q%6.08%
Revenue Next Year7.65%
Revenue Next 2Y8.57%
Revenue Next 3Y8.73%
Revenue Next 5YN/A
EBIT growth 1Y14.53%
EBIT growth 3Y19.44%
EBIT growth 5Y8.72%
EBIT Next Year33.78%
EBIT Next 3Y17.84%
EBIT Next 5YN/A
FCF growth 1Y169.54%
FCF growth 3Y5.27%
FCF growth 5Y14.62%
OCF growth 1Y135.86%
OCF growth 3Y6.53%
OCF growth 5Y14.53%