企業概要
Whirlpool Corporation is a leading manufacturer and marketer of home appliances and related services operating across North America, Latin America, and international markets. The corporation's principal product portfolio includes refrigerators, freezers, ice makers, refrigerator water filters, laundry appliances, and commercial equipment. As a major entity within the consumer cyclical sector, the company functions specifically within the furnishings, fixtures, and appliances industry, positioning itself to capitalize on discretionary consumer spending cycles. The company currently commands a market capitalization of $3.62 billion and generates trailing twelve-month revenue of $15.52 billion, supported by a workforce of 41,000 employees. These valuation and revenue figures indicate that Whirlpool maintains a significant operational footprint but operates with a relatively modest market cap compared to its massive revenue stream, suggesting a mature business model with a focus on steady cash generation rather than high-growth speculation.
財務健全性
Whirlpool Corporation reported trailing twelve-month revenue of $15.52 billion, net income of $318.00 million, and EBITDA of $1.04 billion. The substantial gap between the $15.52 billion in revenue and the $318.00 million in net income highlights a cost structure where operating expenses, including cost of goods sold and administrative costs, consume approximately 98% of top-line sales, leaving a thin profit layer. The company's free cash flow stands at -$133,125,000, indicating that capital expenditures and working capital requirements currently exceed operating cash generation, which limits immediate financial flexibility for large-scale acquisitions or heavy dividend growth. Profitability is characterized by a gross margin of 15.4%, an operating margin of 3.4%, and a profit margin of 2.0%, reflecting the capital-intensive and low-margin nature of the home appliance manufacturing industry. In terms of solvency, the company holds $669.00 million in cash against total debt of $7.36 billion, resulting in a debt-to-equity ratio of 270.94, which signifies a highly leveraged balance sheet reliant on consistent cash flows to service obligations. Short-term liquidity is constrained by a current ratio of 0.76, suggesting that current assets are insufficient to cover current liabilities without relying on external financing or asset sales. Management effectiveness is evidenced by a return on equity of 12.1% and a return on assets of 2.7%, showing that the company generates solid returns for shareholders relative to the equity base, though asset efficiency remains modest given the heavy asset base.
バリュエーション評価
The trailing twelve-month P/E ratio is 9.92, while the forward P/E ratio is 7.77, implying that the market anticipates a compression in earnings multiples or an increase in earnings that is not yet fully priced into the current stock price. The price-to-book ratio of 1.15 indicates that the stock trades at a slight premium over its book value, suggesting investors place some value on the brand equity and intangible assets beyond the tangible net asset count. Alternative valuation metrics such as the price-to-sales ratio of 0.23 and the EV/EBITDA of 9.50 suggest the company is valued on a low multiple relative to its sales and earnings power, typical for mature consumer cyclical firms. The stock's trading range over the last year has oscillated between a 52-week low of $50.41 and a 52-week high of $111.96. Based on the provided data points, the current valuation sits within this historical range, reflecting market sentiment that balances the high dividend yield against the company's leverage and lack of recent revenue growth. The beta of 1.26 indicates that the stock exhibits higher volatility than the broader market, moving approximately 26% more than the market index in response to macroeconomic factors or sector-specific headwinds.
Growth & Income
Revenue growth for the trailing twelve months is recorded at -0.9%, while earnings growth is listed as N/A, indicating that the company is currently contracting in terms of top-line sales expansion. The absence of positive earnings growth relative to the negative revenue growth suggests that the company is struggling to maintain profitability in the face of shrinking sales volumes, likely due to competitive pressures or demand softness in key markets. As a dividend payer, the company offers a dividend yield of 7.9% with a payout ratio of 93.6%, a figure that is mathematically high given the net income and free cash flow situation, raising questions about long-term sustainability if earnings do not rebound significantly. The overall growth and income profile presents a classic value trap scenario where high income compensation offsets significant operational contraction and negative free cash flow generation, requiring careful monitoring of future earnings stability before the high payout becomes sustainable.