Quick10K

Wesco Aircraft

Filings

10-K	2019-09-30	Filed 2019-11-26
10-Q	2019-06-30	Filed 2019-08-09
10-Q	2019-03-31	Filed 2019-05-03
10-Q	2018-12-31	Filed 2019-02-01
10-K	2018-09-30	Filed 2018-11-16
10-Q	2018-06-30	Filed 2018-08-03
10-Q	2018-03-31	Filed 2018-05-04
10-Q	2017-12-31	Filed 2018-02-09
10-K	2017-09-30	Filed 2017-11-29
10-Q	2017-06-30	Filed 2017-08-09
10-Q	2017-03-31	Filed 2017-05-10
10-Q	2016-12-31	Filed 2017-02-08
10-K	2016-09-30	Filed 2016-11-28
10-Q	2016-06-30	Filed 2016-08-05
10-Q	2016-03-31	Filed 2016-05-06
10-Q	2015-12-31	Filed 2016-02-05
10-K	2015-09-30	Filed 2015-11-30
10-Q	2015-06-30	Filed 2015-08-07
10-Q	2015-03-31	Filed 2015-05-08
10-Q	2014-12-31	Filed 2015-02-06
10-K	2014-09-30	Filed 2014-12-01
10-Q	2014-06-30	Filed 2014-08-06
10-Q	2014-03-31	Filed 2014-05-12
10-Q	2013-12-31	Filed 2014-02-12
10-K	2013-09-30	Filed 2013-12-10
10-Q	2013-06-30	Filed 2013-08-06
10-Q	2013-03-31	Filed 2013-05-09
10-Q	2012-12-31	Filed 2013-02-08
10-K	2012-09-30	Filed 2012-11-30
10-Q	2012-06-30	Filed 2012-08-10
10-Q	2012-03-31	Filed 2012-05-11
10-Q	2011-12-31	Filed 2012-02-06
10-K	2011-09-30	Filed 2011-12-05
10-Q	2011-06-30	Filed 2011-08-17

Reports

8-K	2020-01-09	Leave Agreement, Shareholder Rights, Control, Officers, Exhibits
8-K	2020-01-02	Other Events
8-K	2019-11-25	Earnings, Other Events, Exhibits
8-K	2019-10-24	Shareholder Vote, Other Events, Exhibits
8-K	2019-10-14	Earnings, Other Events
8-K	2019-09-13	Other Events
8-K	2019-08-09	Earnings, Exhibits
8-K	2019-08-08	Enter Agreement, Officers, Other Events, Exhibits
8-K	2019-08-08	Regulation FD, Exhibits
8-K	2019-05-02	Earnings, Exhibits
8-K	2019-01-31	Earnings, Exhibits
8-K	2019-01-24	Officers, Shareholder Vote, Exhibits
8-K	2018-11-15	Earnings, Exhibits
8-K	2018-09-14	Officers
8-K	2018-08-02	Earnings, Exhibits
8-K	2018-06-26	Officers
8-K	2018-05-03	Earnings, Regulation FD, Exhibits
8-K	2018-02-09	Officers
8-K	2018-02-08	Earnings, Exhibits
8-K	2018-01-25	Shareholder Vote

Wesco Aircraft Financials

WAIR Metrics, Comps, Filings

Quarterly | Annual

Business

We are one of the world's leading distributors and providers of comprehensive supply chain management services to the global aerospace industry, based on annual sales. Our services range from traditional distribution to the management of supplier relationships, quality assurance, kitting, just-in-time (JIT) delivery, chemical management services (CMS), third-party logistics (3PL) or fourth-party logistics (4PL) programs and point-of-use inventory management. We supply over 550,000 active stock-keeping units (SKUs), including C-class hardware, chemicals, electronic components, bearings, tools and machined parts. In fiscal 2019, sales of hardware including bearings and other products represented 49.9% of our net sales, sales of chemicals represented 42.8% of our net sales and sales of electronic components represented 7.3% of our net sales. We serve our customers under both (1) long-term contractual arrangements (Contracts), which include JIT contracts that govern the provision of comprehensive outsourced supply chain management services and long-term agreements (LTAs) that typically set prices for specific products, and (2) ad hoc sales.

Founded in 1953 by the father of our current Chairman of the Board of Directors, we have grown to serve over 7,000 customers, which are primarily in the commercial, military and general aviation sectors, including the leading original equipment manufacturers (OEMs) and their subcontractors, through which we support nearly all major Western aircraft programs, and also sell products to airline-affiliated and independent maintenance, repair and overhaul (MRO) providers. We also service customers in the automotive, energy, health care, industrial, pharmaceutical and space sectors. We have approximately 3,300 employees and operate across 55 locations in 17 countries. The following charts illustrate the composition of our fiscal year 2019 net sales based on our sales data.

We offer more than 550,000 active SKUs, which fall into the following product categories during the year ended September 30, 2019 (dollars in thousands):

Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Equity

Income Statement ($BB Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($BB Quarterly)

Ops, Inv, Fin


Comps ($MM TTM)	Market Cap	Gross Margin	EV/EBITDA	Ret on Assets	Assets	Liabilities	Revenue	G Profit	Net Income	EBITDA	EV
Resideo Technologies (REZI)	1,661	25%	13.7	1%	5,133	3,560	4,950	1,228	61	203	2,782
Encore Wire (WIRE)	1,177	14%	9.7	8%	870	102	1,292	183	73	100	973
Matthews International (MATW)	1,128	35%	21.5	-2%	2,191	1,471	1,537	542	-38	95	2,033
Apogee Enterprises (APOG)	1,042	21%	12.0	4%	1,132	647	1,421	294	46	109	1,306
Kemet (KEM)	1,119	26%	6.1	11%	1,402	751	1,379	362	159	200	1,231
Varex Imaging (VREX)	1,105	44%	18.0	2%	1,039	580	578	257	16	82	1,474
Wesco Aircraft (WAIR)	1,101	24%	28.8	2%	1,795	1,081	1,696	403	32	64	1,849
Standard Motor Products (SMP)	1,096	29%	11.8	5%	921	427	1,144	331	50	92	1,082
MTS Systems (MTSC)	1,075	37%	17.5	3%	1,298	814	893	329	43	89	1,558
Tenneco (TEN)	1,047	0%	7.7	-1%	13,383	11,407	17,585	0	-91	793	6,128
MRC Global (MRC)	1,041	18%	14.2	3%	2,507	1,836	3,905	693	63	116	1,643
Accelerate Diagnostics (AXDX)	1,034	45%	-15.4	-58%	147	137	8	3	-85	-72	1,112
Douglas Dynamics (PLOW)	1,033	30%	50.2	0%	767	467	563	167	0	25	1,270
Lindsay (LNN)	864	25%	24.2	1%	506	236	465	115	6	36	870
Mesa Laboratories (MLAB)	1,012	60%	79.1	0%	392	163	105	63	0	10	767
Omega Flex (OFLX)	996	63%	43.6	19%	93	23	110	70	18	22	971
PGT Innovations (PGTI)	991	36%	20.3	6%	922	496	760	270	51	64	1,289
Greenbrier Companies (GBX)	929	12%	2.4	4%	2,513	1,251	2,809	339	92	230	548
BlueLinx (BXC)	291	14%	13.8	-1%	1,073	1,093	2,024	274	-7	56	768


Balance Sheet ($MM)	2011-06-30	2011-09-30	2011-12-31	2012-03-31	2012-06-30	2012-09-30	2012-12-31	2013-03-31	2013-06-30	2013-09-30	2013-12-31	2014-03-31	2014-06-30	2014-09-30	2014-12-31	2015-03-31	2015-06-30	2015-09-30	2015-12-31	2016-03-31	2016-06-30	2016-09-30	2016-12-31	2017-03-31	2017-06-30	2017-09-30	2017-12-31	2018-03-31	2018-06-30	2018-09-30	2018-12-31	2019-03-31	2019-06-30	2019-09-30
Cash	36	46	45	55	164	61	40	54	61	79	56	49	80	105	100	102	82	83	86	63	65	77	51	54	57	62	42	36	46	46	25	33	45	38
Accounts Receivable	100	97	100	108	116	130	130	146	146	156	159	320	299	302	286	281	272	253	238	275	261	249	247	267	264	256	254	287	302	284	297	317	333	328
Inventory										630	672	739	752	754	801	798	802	702	724	711	714	713	752	774	803	828	856	889	893	884	913	890	880	861
PP&E	22	21	17	16	20	44	22	21	21	55	28	48	50	79	48	47	46	88	46	48	49	103	50	51	51	116	50	48	46	123	44	47	54	148
Assets	1,284	1,301	1,299	1,338	1,467	1,537	1,531	1,570	1,583	1,631	1,650	2,374	2,392	2,412	2,423	2,395	2,370	2,021	2,030	2,029	2,000	1,956	1,958	2,000	1,774	1,754	1,758	1,812	1,830	1,789	1,813	1,818	1,836	1,795
Accounts Payable	46	53	55	68	67	80	73	88	88	99	94	156	144	160	175	163	157	150	166	159	170	182	173	181	176	184	162	194	193	180	185	181	216	221
Long-Term Debt	584	556	531	531	626	626	615	602	578	568	568	1,133	1,128	1,103	1,088	1,058	1,003	953	948	923	877	842	856	817	813	876	890	892	887	855	870	858	824	787
Liabilities	679	673	646	659	765	784	766	777	754	766	754	1,444	1,425	1,420	1,420	1,378	1,322	1,203	1,195	1,173	1,137	1,073	1,068	1,084	1,086	1,104	1,106	1,140	1,148	1,097	1,115	1,106	1,110	1,081
Stockholders' Equity		628	652	678	702	753	765	793	828	865	895	931	966	992	1,003	1,018	1,048	818	834	856	863	883	890	916	688	650	652	672	682	692	698	711	726	713


Income Statement ($MM)	2011-06-30	2011-09-30	2011-12-31	2012-03-31	2012-06-30	2012-09-30	2012-12-31	2013-03-31	2013-06-30	2013-09-30	2013-12-31	2014-03-31	2014-06-30	2014-09-30	2014-12-31	2015-03-31	2015-06-30	2015-09-30	2015-12-31	2016-03-31	2016-06-30	2016-09-30	2016-12-31	2017-03-31	2017-06-30	2017-09-30	2017-12-31	2018-03-31	2018-06-30	2018-09-30	2018-12-31	2019-03-31	2019-06-30	2019-09-30
Revenue	180	181	193	182	189	212	211	226	230	234	225	327	396	408	374	386	369	370	360	377	375	366	339	365	364	362	363	390	410	407	395	426	442	432
Cost of Revenue	111	109	119	118	122	133	137	145	148	149	147	228	274	288	262	271	259	381	263	274	276	270	250	270	274	274	269	284	306	308	297	318	337	342
Gross Profit	69	73	73	64	67	79	74	81	82	85	78	99	122	120	112	115	109	6	97	102	99	95	89	95	90	87	94	106	104	99	98	109	106	90
R&D
SG&A											37	57	69	72	73	74	73	51	60	61	59	55	63	63	66	68	70	73	75	76	76	79	83	86
Tax	10	15	15	16	8	8	9	14	14	15	13	12	16	14	-10	13	8	-118	8	9	9	7	2	6	-67	48	13	6	6	2	3	5	-7	2
Net Income	14																														6	12	14


Cash Flow ($MM)	2011-06-30	2011-09-30	2011-12-31	2012-03-31	2012-06-30	2012-09-30	2012-12-31	2013-03-31	2013-06-30	2013-09-30	2013-12-31	2014-03-31	2014-06-30	2014-09-30	2014-12-31	2015-03-31	2015-06-30	2015-09-30	2015-12-31	2016-03-31	2016-06-30	2016-09-30	2016-12-31	2017-03-31	2017-06-30	2017-09-30	2017-12-31	2018-03-31	2018-06-30	2018-09-30	2018-12-31	2019-03-31	2019-06-30	2019-09-30
Cash Operating			23	5	18	9	4	28	25	28	-26	-8	36	51	11	38	34	57	11	4	52	51	-28	-6	1	6	-30	-6	17	37	-32	26	56	37
Cash Investing			2	-1	-5	-133	-1	-1	-1	-6	-2	-562	-5	-3	-2	-2	-2	-5	-1	-4	-4	-3	-1	-3	-3	-2	-1	-2	-1	-2	-2	-6	-8	-5
Cash Financing			-26	6	95	21	-25	-12	-17	-4	4	563	1	-25	-15	-30	-55	-51	-5	-23	-44	-36	5	11	4	0	12	1	-5	-34	14	-13	-35	-40