4/13/2012

Nano Caps Improving Valuation: MFRI: MFRI Inc

Update on yesterday's incomplete post "Two Nano Caps Improving Valuation". 


MFRI:MFRI manufactures and distributes products such as filtration devices, piping and leak detection and industrial cooling systems. "Specific products include filter bags designed for industrial air-pollution-control systems as well as the wire cages, spring assemblies, and hanger assemblies used in the installation of its filter bags."


MFRI has seen net  positive insider purchases during 2011. The stock has dropped -32.13% over the prior 52 weeks. Enterprise value per share has dropped 58.46% when comparing the year end 2008 EV per share of 27.75 versus today's EV per share of 17.51. But the EV to book value has improved 100.01% from a EV/BV of 3.08 to the current EV/BV of 1.53. EV/Sales improved 51.28% over the same period.

see schedule for additional information
MFRI
2008 Yr End Current Change Change %
Market Price $15.98 $7.58 -$8.40 -110.82%
Cash 2,665,000 16,718,000 14,053,000 84.06%
Liabilties 80,632,000 84,854,000 4,222,000 4.98%
Book Value 59,780,000 78,421,000 18,641,000 23.77%
Revenue 239,487,000 236,745,000 -2,742,000 -1.16%
Gross Profit 41,249,000 37,866,000 -3,383,000 -8.93%
SGA 38,353,000 39,973,000 1,620,000 4.05%
Float 5,200,000
Shares Outstanding 6,627,000 6,862,250 235,250 3.43%
Market Cap 105,899,460 52,015,855 -53,883,605 -103.59%
EV (MC-Cash+Liab) 183,866,460 120,151,855 -63,714,605 -53.03%
Price 15.98 7.58 -8.40 -110.82%
EV Per Share 27.75 17.51 -10.24 -58.46%
Sales Per Share 36.14 34.50 -1.64 -4.75%
GP Per Share 6.22 5.52 -0.71 -12.80%
SGA Per Share 5.79 5.83 0.04 0.65%
BV Per Share 9.02 11.43 2.41 21.06%
EV/MC 1.74 2.31 0.57 24.84%
EV/BV 3.08 1.53 -1.54 -100.75%
EV/Sales 0.77 0.51 -0.26 -51.28%
EV/GP 4.46 3.17 -1.28 -40.48%
GM % 17.22% 15.99% -0.01 -7.69%
Float/Shares Outstanding 75.78%
52 wk change -32.71%
Insider Acivity Positive
Value Insitutions YES: Heartland
YOY Qtrly Rev Incr 21.20%
Avg ROIC 2008 to TTM 2.14%
3 year Avg Rev Growth -3.00%
EV/EBITDA 22.26
% Held by Insiders 21.94%
% Held by Institutions 41.80%