4/25/2012

Tiny Company with growth, increasing GP%, strengthening BS, improving ratios

GVP: GSE Systems Inc

GSE Systems Inc. (GVP) is trading at a discount to its historical valuation based on EV to several metrics such as sales and book value. Gross margins have improved to 31.97% based on the TTM from a 2008 GM% of 26.95% and 2009 GM% of 25.77%. 3 year average annual revenue increase was 20.80%.

From the company's website: "For over 40 years, GSE Systems has been the World Leader in real-time simulation and training solutions for the electric power, oil and gas and chemical process industries. GSE has delivered over 500 simulation and training applications to hundreds of customers in over 35 countries spanning the globe.

GSE designs, develops, and delivers real-time, high-fidelity simulation software, systems and services. A wide range of training solutions provide further value."
GVP:
2007 Yr End Current Change Change %
Market Price $10.34 $2.86 -$7.48 -261.54%
Cash 8,172,000 20,326,000 12,154,000 59.80%
Liabilties 7,999,000 20,032,000 12,033,000 60.07%
Book Value 20,365,000 38,783,000 18,418,000 47.49%
Revenue 31,900,000 51,126,000 19,226,000 37.61%
Gross Profit 9,683,000 16,345,000 6,662,000 40.76%
SGA 7,214,000 12,672,000 5,458,000 43.07%
Float 12,300,000
Shares Outstanding 14,000,000 19,122,903 5,122,903 26.79%
Market Cap 144,760,000 54,691,503 -90,068,497 -164.68%
EV (MC-Cash+Liab) 144,587,000 54,397,503 -90,189,497 -165.80%
Price 10.34 2.86 -7.48 -261.54%
EV Per Share 10.33 2.84 -7.48 -263.06%
Sales Per Share 2.28 2.67 0.39 14.77%
GP Per Share 0.69 0.85 0.16 19.08%
SGA Per Share 0.52 0.66 0.15 22.24%
BV Per Share 1.45 2.03 0.57 28.28% Positive Improvement
EV/MC 1.00 0.99 0.00 -0.42%
EV/BV 7.10 1.40 -5.70 -406.18% Positive Improvement
EV/Sales 4.53 1.06 -3.47 -325.99% Positive Improvement
EV/GP 14.93 3.33 -11.60 -348.67% Positive Improvement
GM % 30.35% 31.97% 0.02 5.05% Positive Improvement
Float/Shares Outstanding 64.32%
Current Div Yield 1.10%
52 wk change 23.77%
Insider Acivity Neutral
YOY Qtrly Rev Incr 21.70%
ROIC TTM 7.40%
3 year Avg Rev Growth 6.58%
EV/EBITDA 8.04
% Held by Insiders 22.74%
% Held by Institutions 48.70%

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