Simpson Manufacturing Co., Inc. (SSD) 10-Year Financial Performance & Capital Metrics

SSD • • Industrial / General

IndustrialsConstructionSpecialty Construction ProductsStructural & Fastening Systems

AboutSimpson Manufacturing Co., Inc., through its subsidiaries, designs, engineers, manufactures, and sells wood and concrete construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and pre-fabricated lateral systems for use in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, fiber-reinforced materials, and other repair products for use in concrete, masonry, and steel construction, as well as grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products for use in concrete construction repair, and strengthening and protection products. It also provides connectors and lateral products for wood framing, timber and offsite construction, structural steel construction, and cold-formed steel applications; and mechanical and adhesive anchors for concrete and masonry construction applications. In addition, the company offers engineering and design services, as well as software solutions that facilitate the specification, selection, and use of its products. It markets its products to the residential construction, light industrial and commercial construction, remodeling, and do-it-yourself markets in the United States, Canada, France, the United Kingdom, Germany, Denmark, Switzerland, Portugal, Poland, the Netherlands, Belgium, Spain, Sweden, Norway, Australia, New Zealand, China, Taiwan, and Vietnam. The company was founded in 1956 and is headquartered in Pleasanton, California.Show more

Revenue $2.23B +0.8%
EBITDA $515M -7.0%
Net Income $322M -9.0%
EPS (Diluted) 7.60 -8.0%
Gross Margin 45.97% -2.5%
EBITDA Margin 23.09% -7.8%
Operating Margin 19.26% -11.1%
Net Margin 14.44% -9.7%
ROE 18.45% -19.4%
ROIC 16.73% -17.5%
Debt/Equity 0.27 -19.3%
Interest Coverage 8.79 -86.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 22.4%
✓Strong 5Y profit CAGR of 19.2%
✓11 consecutive years of dividend growth
✓Strong 5Y sales CAGR of 14.5%
✓Healthy 5Y average net margin of 15.6%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y11.49%

5Y14.45%

3Y12.37%

TTM4.26%

Profit (Net Income) CAGR

10Y17.63%

5Y19.19%

3Y6.54%

TTM7.07%

EPS CAGR

10Y19.4%

5Y20.59%

3Y7.49%

TTM8.59%

ROCE

10Y Avg20.9%

5Y Avg25.07%

3Y Avg22.52%

Latest18.25%

Peer Comparison

Structural & Fastening Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AWIArmstrong World Industries, Inc.	8.47B	196.50	32.64	11.62%	19.09%	34.35%	2.17%	0.79
SSDSimpson Manufacturing Co., Inc.	7.79B	187.78	24.71	0.83%	14.9%	17.1%	2.03%	0.27
APTAlpha Pro Tech, Ltd.	48.8M	4.71	13.46	-5.54%	6.23%	5.88%	3.88%	0.14
ROCKGibraltar Industries, Inc.	1.72B	58.26	13.06	-5.01%	0.35%	0.44%	8.97%	0.04

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	794.06M	860.66M	977.02M	1.08B	1.14B	1.27B	1.57B	2.12B	2.21B	2.23B
Revenue Growth %	0.06%	0.08%	0.14%	0.1%	0.05%	0.12%	0.24%	0.35%	0.05%	0.01%
Cost of Goods Sold+	435.14M	448.21M	530.76M	598.29M	645.28M	692.42M	818.51M	1.17B	1.17B	1.21B
COGS % of Revenue	0.55%	0.52%	0.54%	0.55%	0.57%	0.55%	0.52%	0.56%	0.53%	0.54%
Gross Profit+	358.92M	412.45M	446.26M	480.52M	491.26M	575.52M	754.71M	941.17M	1.04B	1.03B
Gross Margin %	0.45%	0.48%	0.46%	0.45%	0.43%	0.45%	0.48%	0.44%	0.47%	0.46%
Gross Profit Growth %	0.05%	0.15%	0.08%	0.08%	0.02%	0.17%	0.31%	0.25%	0.11%	-0.02%
Operating Expenses+	241.48M	272.81M	307.26M	312.08M	316.03M	323.49M	387.24M	466.2M	564.25M	595.88M
OpEx % of Revenue	0.3%	0.32%	0.31%	0.29%	0.28%	0.26%	0.25%	0.22%	0.25%	0.27%
Selling, General & Admin	204.09M	223.2M	257.65M	268.5M	269.84M	273.55M	328.18M	397.85M	472.08M	496.93M
SG&A % of Revenue	0.26%	0.26%	0.26%	0.25%	0.24%	0.22%	0.21%	0.19%	0.21%	0.22%
Research & Development	40.3M	46.25M	47.62M	43.06M	47.06M	50.81M	59.38M	68.35M	92.17M	93.58M
R&D % of Revenue	0.05%	0.05%	0.05%	0.04%	0.04%	0.04%	0.04%	0.03%	0.04%	0.04%
Other Operating Expenses	-2.9M	3.36M	1.99M	525K	-872K	-864K	-324K	0	0	5.37M
Operating Income+	117.44M	139.64M	139.01M	168.44M	175.23M	252.03M	367.47M	474.97M	479.66M	429.98M
Operating Margin %	0.15%	0.16%	0.14%	0.16%	0.15%	0.2%	0.23%	0.22%	0.22%	0.19%
Operating Income Growth %	0.19%	0.19%	-0%	0.21%	0.04%	0.44%	0.46%	0.29%	0.01%	-0.1%
EBITDA+	144.26M	167.57M	172.73M	207.83M	213.63M	297.78M	419.51M	547.19M	554.37M	515.37M
EBITDA Margin %	0.18%	0.19%	0.18%	0.19%	0.19%	0.23%	0.27%	0.26%	0.25%	0.23%
EBITDA Growth %	0.14%	0.16%	0.03%	0.2%	0.03%	0.39%	0.41%	0.3%	0.01%	-0.07%
D&A (Non-Cash Add-back)	26.82M	27.93M	33.72M	39.39M	38.4M	45.75M	52.04M	72.22M	74.71M	85.4M
EBIT	109.68M	140.05M	145.59M	173.19M	180.38M	251.85M	359.4M	460.73M	483.98M	435.34M
Net Interest Income+	-342K	-577K	-788K	-571K	-1.74M	-2.01M	-850K	-12.66M	-7.43M	-48.94M
Interest Income	655K	570K	389K	493K	291K	272K	0	0	0	0
Interest Expense	997K	1.15M	1.18M	1.06M	2.03M	2.28M	850K	12.66M	7.43M	48.94M
Other Income/Expense	-8.76M	-742K	5.41M	3.69M	3.13M	-2.47M	-8.92M	-26.91M	-3.11M	4.07M
Pretax Income+	108.68M	138.9M	144.42M	172.13M	178.36M	249.56M	358.55M	448.06M	476.55M	434.04M
Pretax Margin %	0.14%	0.16%	0.15%	0.16%	0.16%	0.2%	0.23%	0.21%	0.22%	0.19%
Income Tax+	40.79M	49.17M	51.8M	45.49M	44.38M	62.56M	92.1M	114.07M	122.56M	111.82M
Effective Tax Rate %	0.62%	0.65%	0.64%	0.74%	0.75%	0.75%	0.74%	0.75%	0.74%	0.74%
Net Income+	67.89M	89.73M	92.62M	126.63M	133.98M	187M	266.45M	334M	353.99M	322.22M
Net Margin %	0.09%	0.1%	0.09%	0.12%	0.12%	0.15%	0.17%	0.16%	0.16%	0.14%
Net Income Growth %	0.07%	0.32%	0.03%	0.37%	0.06%	0.4%	0.42%	0.25%	0.06%	-0.09%
Net Income (Continuing)	67.89M	89.73M	92.62M	126.63M	133.98M	187M	266.45M	334M	353.99M	322.22M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	1.38	1.86	1.94	2.78	2.98	4.27	6.12	7.76	8.26	7.60
EPS Growth %	0.07%	0.35%	0.04%	0.43%	0.07%	0.43%	0.43%	0.27%	0.06%	-0.08%
EPS (Basic)	1.39	1.87	1.95	2.80	3.00	4.28	6.15	7.78	8.31	7.64
Diluted Shares Outstanding	49.18M	48.3M	47.77M	46.54M	44.92M	43.84M	43.53M	43.05M	42.84M	42.38M
Basic Shares Outstanding	48.95M	48.08M	47.49M	46.21M	44.73M	43.71M	43.33M	42.92M	42.6M	42.18M
Dividend Payout Ratio	0.43%	0.36%	0.4%	0.32%	0.3%	0.22%	0.16%	0.13%	0.13%	0.14%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	589.27M	585.25M	581.81M	599.52M	640.91M	753.14M	998.84M	1.18B	1.31B	1.18B
Cash & Short-Term Investments	258.82M	226.54M	168.51M	160.18M	230.21M	274.64M	301.15M	300.74M	429.82M	239.37M
Cash Only	258.82M	226.54M	168.51M	160.18M	230.21M	274.64M	301.15M	300.74M	429.82M	239.37M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	106.01M	112.42M	135.96M	146.05M	139.36M	165.13M	231.02M	269.12M	283.98M	284.39M
Days Sales Outstanding	48.73	47.68	50.79	49.41	44.76	47.53	53.6	46.42	46.82	46.5
Inventory	195.76M	232.27M	251.58M	276.09M	251.91M	283.74M	443.76M	556.8M	551.58M	593.17M
Days Inventory Outstanding	164.2	189.15	173.01	168.43	142.49	149.57	197.88	172.98	172.09	179.51
Other Current Assets	28.68M	14.01M	26.47M	17.21M	19.43M	29.63M	22.9M	52.58M	47.07M	59.38M
Total Non-Current Assets+	372.04M	394.73M	453.58M	422.13M	454.46M	479.43M	485.29M	1.32B	1.39B	1.56B
Property, Plant & Equipment	213.72M	232.81M	273.02M	254.6M	284.45M	300.98M	305.31M	419.21M	487.4M	625.59M
Fixed Asset Turnover	3.72x	3.70x	3.58x	4.24x	4.00x	4.21x	5.15x	5.05x	4.54x	3.57x
Goodwill	123.95M	124.48M	137.14M	130.25M	131.88M	135.84M	134.02M	495.67M	502.55M	512.38M
Intangible Assets	27.68M	22.86M	29.33M	24.4M	25.07M	26.8M	26.27M	362.92M	365.34M	375.05M
Long-Term Investments	0	2.5M	2.55M	2.49M	2.48M	2.47M	0	0	0	0
Other Non-Current Assets	6.7M	12.07M	11.55M	10.4M	10.58M	13.34M	19.69M	46.92M	36.99M	46.83M
Total Assets+	961.31M	979.97M	1.04B	1.02B	1.1B	1.23B	1.48B	2.5B	2.7B	2.74B
Asset Turnover	0.83x	0.88x	0.94x	1.06x	1.04x	1.03x	1.06x	0.85x	0.82x	0.82x
Asset Growth %	-0.01%	0.02%	0.06%	-0.02%	0.07%	0.13%	0.2%	0.69%	0.08%	0.01%
Total Current Liabilities+	94.96M	108.8M	136.49M	151.58M	158.91M	194.06M	244.6M	348.56M	361.26M	366.35M
Accounts Payable	21.31M	27.67M	31.54M	34.36M	33.35M	48.27M	57.22M	97.84M	107.52M	100.97M
Days Payables Outstanding	17.87	22.54	21.69	20.96	18.86	25.45	25.51	30.4	33.55	30.56
Short-Term Debt	0	0	1.05M	0	0	0	0	22.5M	22.5M	22.5M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	12.31M	12M	19.14M	81.14M	78.59M	83.97M	110.52M	132.48M	129.24M	111.2M
Current Ratio	6.21x	5.38x	4.26x	3.96x	4.03x	3.88x	4.08x	3.38x	3.63x	3.21x
Quick Ratio	4.14x	3.24x	2.42x	2.13x	2.45x	2.42x	2.27x	1.79x	2.11x	1.59x
Cash Conversion Cycle	195.06	214.29	202.12	196.89	168.38	171.66	225.97	189	185.36	195.46
Total Non-Current Liabilities+	16.52M	5.34M	16.25M	14.57M	44.5M	57.56M	55.52M	742.03M	663.72M	556.69M
Long-Term Debt	0	0	0	0	0	0	0	554.54M	458.79M	362.56M
Capital Lease Obligations	0	0	2.61M	0	28.32M	37.2M	37.09M	46.88M	55.32M	76.18M
Deferred Tax Liabilities	0	5.34M	16.25M	14.57M	16.19M	20.37M	18.43M	112.9M	98.17M	90.3M
Other Non-Current Liabilities	16.52M	0	-2.61M	0	0	0	0	27.71M	51.44M	27.64M
Total Liabilities	111.48M	114.13M	152.75M	166.15M	203.41M	251.63M	300.13M	1.09B	1.02B	923.03M
Total Debt+	0	0	3.66M	0	35.71M	46.34M	45.86M	635.47M	551.57M	480.66M
Net Debt	-258.82M	-226.54M	-164.85M	-160.18M	-194.5M	-228.3M	-255.29M	334.72M	121.75M	241.29M
Debt / Equity	-	-	0.00x	-	0.04x	0.05x	0.04x	0.45x	0.33x	0.27x
Debt / EBITDA	-	-	0.02x	-	0.17x	0.16x	0.11x	1.16x	0.99x	0.93x
Net Debt / EBITDA	-1.79x	-1.35x	-0.95x	-0.77x	-0.91x	-0.77x	-0.61x	0.61x	0.22x	0.47x
Interest Coverage	117.79x	121.75x	118.10x	158.31x	86.41x	110.35x	432.32x	37.50x	64.54x	8.79x
Total Equity+	849.82M	865.84M	884.78M	855.51M	891.96M	980.94M	1.18B	1.41B	1.68B	1.81B
Equity Growth %	-0.02%	0.02%	0.02%	-0.03%	0.04%	0.1%	0.21%	0.19%	0.19%	0.08%
Book Value per Share	17.28	17.93	18.52	18.38	19.86	22.38	27.20	32.83	39.21	42.78
Total Shareholders' Equity	849.82M	865.84M	884.78M	855.51M	891.96M	980.94M	1.18B	1.41B	1.68B	1.81B
Common Stock	481K	473K	473K	453K	442K	433K	432K	425K	426K	424K
Retained Earnings	639.71M	642.42M	676.64M	628.21M	645.51M	720.44M	906.84M	1.12B	1.43B	1.65B
Treasury Stock	0	0	-40M	-25M	-9.38M	-13.51M	0	0	-50.36M	-100.77M
Accumulated OCI	-28.58M	-32.97M	-12.5M	-24.65M	-24.83M	-10.43M	-17.61M	-4.06M	-9.99M	-46.77M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	114.21M	94.95M	119.06M	160.08M	205.66M	207.57M	151.29M	399.82M	427.02M	338.16M
Operating CF Margin %	0.14%	0.11%	0.12%	0.15%	0.18%	0.16%	0.1%	0.19%	0.19%	0.15%
Operating CF Growth %	0.7%	-0.17%	0.25%	0.34%	0.28%	0.01%	-0.27%	1.64%	0.07%	-0.21%
Net Income	67.89M	89.73M	92.62M	126.63M	133.98M	187M	266.45M	334M	353.99M	322.22M
Depreciation & Amortization	26.82M	27.93M	33.72M	39.39M	38.4M	38.77M	42.48M	60.89M	74.71M	85.4M
Stock-Based Compensation	11.96M	13.95M	13.91M	11.18M	10.43M	13.51M	17.71M	14.98M	23.86M	19.02M
Deferred Taxes	2.54M	-869K	6.3M	4.95M	2.56M	3.18M	-915K	-13.16M	-7.54M	-6.04M
Other Non-Cash Items	2.87M	1.08M	-5.46M	-5.1M	2.09M	6.57M	12.07M	21.12M	10.8M	15.03M
Working Capital Changes	2.13M	-36.87M	-22.03M	-16.97M	18.2M	-41.45M	-186.5M	-18.01M	-28.79M	-97.47M
Change in Receivables	-16.82M	-7.55M	-17.82M	-12.57M	6.1M	-22.11M	-67.99M	19.76M	-13.05M	-3.65M
Change in Inventory	17.21M	-36.62M	-6.58M	-26.43M	23.66M	-27.22M	-164.2M	-28.42M	15.66M	-50.37M
Change in Payables	-1.03M	5.79M	1.16M	4.67M	-845K	11.36M	10.23M	-4.02M	-3.07M	-5.81M
Cash from Investing+	-37.83M	-48.54M	-75.81M	-10.25M	-28.02M	-39.85M	-58.8M	-870.24M	-103.25M	-259.26M
Capital Expenditures	-34.19M	-42M	-58.04M	-29.31M	-37.53M	-37.91M	-49.59M	-67.22M	-88.82M	-180.36M
CapEx % of Revenue	0.04%	0.05%	0.06%	0.03%	0.03%	0.03%	0.03%	0.03%	0.04%	0.08%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	537K	-4.04M	-27.24M	21.07M	12.15M	853K	836K	2.53M	1.74M	1.89M
Cash from Financing+	-67.89M	-79.12M	-106.67M	-155.39M	-108.15M	-126.78M	-71.62M	465.53M	-199.03M	-261.46M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-29.35M	-32.71M	-36.98M	-39.89M	-40.2M	-40.4M	-41.62M	-43.9M	-45.2M	-46.5M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-1.18M	-5.17M	-5.55M	-5.51M	-5.91M	-8.67M	-6.22M	4.89M	-7.43M	-16.66M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	80.02M	52.95M	61.02M	130.77M	168.14M	169.66M	101.7M	337.46M	338.2M	157.8M
FCF Margin %	0.1%	0.06%	0.06%	0.12%	0.15%	0.13%	0.06%	0.16%	0.15%	0.07%
FCF Growth %	0.84%	-0.34%	0.15%	1.14%	0.29%	0.01%	-0.4%	2.32%	0%	-0.53%
FCF per Share	1.63	1.10	1.28	2.81	3.74	3.87	2.34	7.84	7.89	3.72
FCF Conversion (FCF/Net Income)	1.68x	1.06x	1.29x	1.26x	1.53x	1.11x	0.57x	1.20x	1.21x	1.05x
Interest Paid	249K	284K	121K	160K	143K	1.6M	1.6M	17.03M	16.44M	13.44M
Taxes Paid	34.01M	49.42M	50.83M	40.12M	37.73M	63.03M	83.66M	113.21M	123.4M	117.8M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	7.92%	10.46%	10.58%	14.55%	15.33%	19.97%	24.61%	25.72%	22.89%	18.45%
Return on Invested Capital (ROIC)	14.75%	17.03%	15.34%	17.85%	18.87%	26.07%	32.78%	26.62%	20.27%	16.73%
Gross Margin	45.2%	47.92%	45.68%	44.54%	43.22%	45.39%	47.97%	44.48%	47.15%	45.97%
Net Margin	8.55%	10.43%	9.48%	11.74%	11.79%	14.75%	16.94%	15.78%	15.99%	14.44%
Debt / Equity	-	-	0.00x	-	0.04x	0.05x	0.04x	0.45x	0.33x	0.27x
Interest Coverage	117.79x	121.75x	118.10x	158.31x	86.41x	110.35x	432.32x	37.50x	64.54x	8.79x
FCF Conversion	1.68x	1.06x	1.29x	1.26x	1.53x	1.11x	0.57x	1.20x	1.21x	1.05x
Revenue Growth	5.57%	8.39%	13.52%	10.42%	5.35%	11.56%	24.08%	34.51%	4.62%	0.83%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Wood Construction	674.27M	732.41M	833.2M	913.2M	948.77M	1.08B	1.36B	1.83B	1.88B	1.9B
Wood Construction Growth	-	8.62%	13.76%	9.60%	3.89%	14.14%	25.69%	34.56%	2.74%	0.95%
Concrete Construction	119.48M	128.25M	143.1M	165.32M	187.46M	184.63M	210.78M	282.2M	320.5M	330.56M
Concrete Construction Growth	-	7.34%	11.58%	15.52%	13.40%	-1.51%	14.16%	33.89%	13.57%	3.14%
Other Products	304K	-	723K	290K	309K	437K	1.32M	2.3M	11.6M	2.06M
Other Products Growth	-	-	-	-59.89%	6.55%	41.42%	202.97%	73.87%	404.04%	-82.26%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
North America	676.62M	742.02M	803.7M	910.59M	972.85M	1.1B	1.36B	1.7B	1.72B	1.74B
North America Growth	-	9.67%	8.31%	13.30%	6.84%	13.26%	23.69%	24.81%	0.90%	1.13%
Europe	108.07M	111.27M	165.16M	159.03M	155.14M	156.71M	197M	400.3M	480.76M	479.06M
Europe Growth	-	2.97%	48.42%	-3.71%	-2.44%	1.01%	25.70%	103.20%	20.10%	-0.35%
Asia Pacific	20.5M	28.69M	20.71M	28.29M	26.76M	9.34M	27.11M	32.98M	29.04M	33.41M
Asia Pacific Growth	-	39.98%	-27.80%	36.58%	-5.40%	-65.10%	190.22%	21.65%	-11.94%	15.04%

Frequently Asked Questions

Valuation & Price

Simpson Manufacturing Co., Inc. (SSD) has a price-to-earnings (P/E) ratio of 24.7x. This is roughly in line with market averages.

Growth & Financials

Simpson Manufacturing Co., Inc. (SSD) reported $2.31B in revenue for fiscal year 2024. This represents a 283% increase from $603.4M in 2011.

Simpson Manufacturing Co., Inc. (SSD) grew revenue by 0.8% over the past year. Growth has been modest.

Yes, Simpson Manufacturing Co., Inc. (SSD) is profitable, generating $344.3M in net income for fiscal year 2024 (14.4% net margin).

Dividend & Returns

Yes, Simpson Manufacturing Co., Inc. (SSD) pays a dividend with a yield of 0.58%. This makes it attractive for income-focused investors.

Simpson Manufacturing Co., Inc. (SSD) has a return on equity (ROE) of 18.5%. This is reasonable for most industries.

Simpson Manufacturing Co., Inc. (SSD) generated $238.9M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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