Team, Inc. (TISI) 股票分析

公司概述

Team, Inc. operates within the Industrials sector as a provider of specialized business services, delivering a comprehensive suite of conventional, proprietary mechanical, heat-treating, and inspection services across the United States, Canada, and international markets. The company executes its operations through two distinct segments: Inspection and Heat Treating (IHT) and Mechanical Services (MS), serving diverse industrial clients requiring these specific technical capabilities. This industrial entity maintains a significant workforce comprising approximately 5,300 employees, supporting a total market capitalization of $77.71 million and generating annual revenues of $896.48 million over the trailing twelve months. The combination of nearly $900 million in revenue and a substantial employee base suggests that Team, Inc. possesses a notable operational footprint within the specialty services niche, although its relatively modest market cap indicates it is valued as a smaller-cap industrial player rather than a large-cap utility or conglomerate.

财务健康

The company reported revenue of $896.48 million for the trailing twelve months, yet this revenue base was accompanied by a net income loss of $52.66 million and an EBITDA of $48.37 million. The substantial disparity between the positive revenue of $896.48 million and the negative net income of $52.66 million reveals a cost structure where operating expenses and interest costs significantly erode bottom-line profitability, despite generating positive operating cash earnings before interest, taxes, depreciation, and amortization. Free cash flow stands at -$17.30 million, indicating that the company is currently burning cash rather than generating liquidity from its core operations, which limits its immediate financial flexibility to fund capital expenditures or acquisitions without external financing. Profitability metrics show a gross margin of 25.8%, an operating margin of 3.0%, and a profit margin of -5.5%, illustrating that while the company retains a quarter of its revenue after direct costs, high overheads and financing charges drive the operating and net margins into negative territory. On the balance sheet, cash reserves of $18.14 million are insufficient to cover total debt of $349.59 million, resulting in a debt-to-equity ratio of 1,272.61, which characterizes the capital structure as highly leveraged rather than conservative. The current ratio of 2.22 suggests that the company holds 2.22 times more current assets than current liabilities, indicating a reasonable level of short-term liquidity to meet its immediate obligations. Return on Equity is reported at -337.0% while Return on Assets is 1.8%, and these divergent metrics reveal that management is generating positive asset utilization but is simultaneously destroying shareholder value due to the heavy debt load and operating losses.

估值评估

Valuation multiples for Team, Inc. present a complex picture with a P/E Ratio (TTM) listed as N/A due to losses, while the forward P/E is -29.31, implying that the market prices the stock based on anticipated future earnings rather than current profitability. The price-to-book ratio is -3.15, indicating that the market is valuing the company at a negative multiple of its book value, which often occurs when liabilities exceed equity or when the business is priced based on future cash flow potential rather than current net assets. Alternative valuation metrics such as a price-to-sales ratio of 0.09 and an EV/EBITDA of 9.53 provide additional context; the low price-to-sales multiple suggests the stock is priced very cheaply relative to its revenue, while the EV/EBITDA of 9.53 attempts to normalize value by excluding non-cash charges and debt structure. The stock has traded between a 52-week high of $24.25 and a 52-week low of $12.34, meaning the current price sits somewhere within this range, reflecting significant price discovery and volatility in a small-cap industrial environment. With a beta of 1.02, the stock exhibits volatility that is marginally higher than the broader market, suggesting that its price movements will generally track the S&P 500 with slightly amplified swings during periods of market stress or rally.

Growth & Income

Revenue growth stands at 5.4% year-over-year, whereas earnings growth is N/A due to the company's recent net loss, indicating that top-line expansion is currently decoupled from bottom-line profitability. Since the company does not pay dividends, the dividend yield is N/A and the payout ratio is 0.0%, which implies that the firm retains all of its earnings—or rather, all of its cash flow—rather than distributing them to shareholders. The absence of a dividend payout combined with negative free cash flow suggests the company is in a reinvestment phase where capital is directed toward operations or debt reduction rather than income generation. Overall, Team, Inc. currently presents a growth profile focused on expanding revenue streams through its mechanical and inspection services, while its income profile remains challenged by high leverage and operating losses that prevent any current income distribution to investors.