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Insteel Industries, Inc., together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers prestressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. Its PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures providing reinforcement for bridges, parking decks, buildings, and other concrete structures. The company's WWR engineered reinforcing product is used in nonresidential and residential construction. It produces a range of WWR products, such as engineered structural mesh, an engineered made-to-order product that is used as the primary reinforcement for concrete elements or structures serving as a reinforcing solution for hot-rolled rebar; concrete pipe reinforcement, an engineered made-to-order product, which is used as the primary reinforcement in concrete pipe, box culverts, and precast manholes for drainage and sewage systems, water treatment facilities, and other related applications; and standard welded wire reinforcement, a secondary reinforcing product for crack control applications in residential and light nonresidential construction, including driveways, sidewalks, and various slab-on-grade applications. It sells its products through sales representatives to the manufacturers of concrete products, rebar fabricators, distributors, and contractors. Insteel Industries, Inc. was founded in 1953 and is headquartered in Mount Airy, North Carolina.
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Insteel Industries, Inc. manufactures steel wire reinforcing products used in concrete construction, supplying welded wire reinforcement and related fabricated components to residential, commercial and infrastructure projects. Long-term growth may be supported by steady building and infrastructure spending, product substitution in certain concrete applications and potential operational efficiencies, and investors may find the company attractive for its niche market position and exposure to construction end markets.
Key risks include construction cyclicality, exposure to steel raw‑material price volatility and competitive pressure from alternative reinforcement materials, and investors should monitor the company’s ability to pass through costs and execute on manufacturing efficiency.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 |
| Income before tax | 41.76M | 161.73M | 86.10M | 24.17M | 7.46M |
| Net income | 32.41M | 125.01M | 66.61M | 19.01M | 5.60M |
| Selling general administrative | 30.68M | 36.05M | 32.39M | 31.35M | 24.50M |
| Gross profit | 65.40M | 197.31M | 121.55M | 55.79M | 30.06M |
| Reconciled depreciation | 13.30M | 14.49M | 14.52M | 14.26M | 13.55M |
| Ebit | 41.84M | 161.50M | 89.07M | 26.17M | 7.62M |
| Ebitda | 55.15M | 175.99M | 103.59M | 40.42M | 21.18M |
| Depreciation and amortization | 13.30M | 14.49M | 14.52M | 14.26M | 13.55M |
| Non operating income net other | - | 0.24M | - | - | 2.07M |
| Operating income | 34.71M | 161.50M | 89.07M | 26.17M | 7.62M |
| Other operating expenses | 614.48M | 665.57M | 501.44M | 448.18M | 450.16M |
| Interest expense | 0.09M | 0.09M | 0.10M | 0.11M | 0.17M |
| Tax provision | 9.34M | 36.72M | 19.49M | 5.16M | 1.86M |
| Interest income | 3.71M | 0.33M | 0.02M | 0.47M | 0.29M |
| Net interest income | 3.62M | 0.23M | -0.07M | 0.37M | 0.12M |
| Income tax expense | 9.34M | 36.72M | 19.49M | 5.16M | 1.86M |
| Total revenue | 649.19M | 826.83M | 590.60M | 472.62M | 455.71M |
| Total operating expenses | 30.68M | 36.05M | 32.39M | 31.35M | 24.50M |
| Cost of revenue | 583.79M | 629.52M | 469.05M | 416.83M | 425.65M |
| Total other income expense net | 3.42M | 0.23M | -2.96M | -2.00M | -0.17M |
| Net income from continuing ops | 32.41M | 125.01M | 66.61M | 19.01M | 5.60M |
| Net income applicable to common shares | 32.41M | 125.01M | 66.61M | 19.01M | 5.60M |
| Breakdown | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 |
| Total assets | 447.51M | 471.75M | 390.71M | 337.90M | 293.01M |
| Intangible assets | 6.09M | 6.85M | 7.67M | 8.57M | 8.61M |
| Other current assets | 2.41M | 7.72M | 10.06M | 5.57M | 7.37M |
| Total liab | 66.01M | 82.00M | 88.67M | 73.10M | 46.99M |
| Total stockholder equity | 381.50M | 389.74M | 302.04M | 264.80M | 246.02M |
| Deferred long term liab | - | 0.04M | 0.11M | 0.17M | 0.24M |
| Other current liab | 11.81M | 14.80M | 18.38M | 13.49M | 6.82M |
| Common stock | 19.45M | 19.48M | 19.41M | 19.30M | 19.26M |
| Capital stock | 19.45M | 19.48M | 19.41M | 19.30M | 19.26M |
| Retained earnings | 278.50M | 289.25M | 206.38M | 171.07M | 154.37M |
| Other liab | 19.85M | 18.83M | 19.82M | 18.12M | 18.58M |
| Good will | 9.74M | 9.74M | 9.74M | 9.74M | 8.29M |
| Other assets | 12.81M | 10.10M | 20.77M | 18.64M | 10.56M |
| Cash | 125.67M | 48.32M | 89.88M | 68.69M | 38.18M |
| Total current liabilities | 46.16M | 62.60M | 68.85M | 53.68M | 28.41M |
| Current deferred revenue | -1.00M | - | - | - | - |
| Net debt | -123.73M | -46.75M | -88.16M | -66.16M | -38.18M |
| Short term debt | 1.00M | 1.00M | 1.03M | 1.23M | - |
| Short long term debt total | 1.94M | 1.57M | 1.73M | 2.53M | - |
| Other stockholder equity | 83.83M | 82.00M | 78.69M | 76.39M | 74.63M |
| Property plant equipment | 120.01M | 108.16M | 105.62M | 103.91M | 104.96M |
| Total current assets | 298.85M | 335.33M | 246.91M | 197.04M | 160.58M |
| Long term investments | 0.17M | 0.04M | 0.11M | 0.17M | 0.24M |
| Net tangible assets | 365.67M | 373.15M | 284.62M | 246.49M | 246.02M |
| Net receivables | 63.42M | 81.65M | 67.92M | 53.82M | 44.18M |
| Inventory | 103.31M | 197.65M | 79.05M | 68.96M | 70.85M |
| Accounts payable | 34.35M | 46.80M | 49.44M | 38.96M | 21.59M |
| Accumulated other comprehensive income | -0.28M | -0.98M | -2.44M | -1.96M | -2.25M |
| Common stock total equity | - | 19.48M | 19.41M | 19.30M | 19.26M |
| Retained earnings total equity | - | 289.25M | - | - | 154.37M |
| Non currrent assets other | 10.70M | 11.62M | 20.77M | 21.16M | 10.56M |
| Non current assets total | 148.66M | 136.41M | 143.80M | 140.86M | 132.43M |
| Capital lease obligations | 1.94M | 1.57M | 1.73M | 2.53M | - |
| Breakdown | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 |
| Investments | -20.90M | -6.04M | -17.80M | -23.17M | -9.56M |
| Change to liabilities | -16.95M | -1.96M | 11.89M | 20.16M | -42.59M |
| Total cashflows from investing activities | -20.90M | -6.04M | -17.80M | -23.17M | -9.56M |
| Net borrowings | - | - | - | - | -0.26M |
| Total cash from financing activities | -43.95M | -41.20M | -30.88M | -2.54M | -2.81M |
| Change to operating activities | 1.94M | -1.51M | -0.90M | 3.09M | -2.60M |
| Net income | 32.41M | 125.01M | 66.61M | 19.01M | 5.60M |
| Change in cash | 77.35M | -41.57M | 21.20M | 30.51M | -5.76M |
| Begin period cash flow | 48.32M | 89.88M | 68.69M | 38.18M | 43.94M |
| End period cash flow | 125.67M | 48.32M | 89.88M | 68.69M | 38.18M |
| Total cash from operating activities | 142.20M | 5.67M | 69.88M | 56.22M | 6.61M |
| Depreciation | 13.30M | 14.49M | 14.52M | 14.26M | 13.55M |
| Other cashflows from investing activities | -0.12M | 9.86M | -0.38M | 0.07M | 0.96M |
| Dividends paid | -41.25M | -41.16M | -31.29M | -2.31M | 2.31M |
| Change to inventory | 94.35M | -118.61M | -10.09M | 5.06M | 23.31M |
| Change to account receivables | 18.22M | -13.73M | -14.10M | -5.81M | 7.30M |
| Sale purchase of stock | -2.33M | -1.20M | - | - | - |
| Other cashflows from financing activities | -0.61M | 1.43M | 0.71M | 0.09M | 43.83M |
| Change to netincome | -1.14M | -119.34M | 1.88M | 0.39M | 1.01M |
| Capital expenditures | 30.70M | 15.90M | 17.50M | 7.11M | 10.51M |
| Cash and cash equivalents changes | - | -41.57M | - | - | -5.76M |
| Change in working capital | 97.56M | -135.80M | -13.20M | 22.50M | -14.59M |
| Stock based compensation | 2.42M | 2.43M | 1.99M | 2.03M | 2.06M |
| Other non cash items | -3.75M | -0.78M | 0.07M | -1.15M | -1.81M |
| Free cash flow | 111.50M | -10.23M | 52.38M | 49.11M | -3.90M |
Sector: Industrials Industry: Metal Fabrication
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| IIIN Insteel Industries Inc |
0.10 0.36% |
28.05 | 22.66 | 29.85 | 1.11 | 1.89 | 0.92 | 10.83 |
| ATI ATI Inc. |
-2.04 1.09% |
185.50 | 55.77 | 38.91 | 4.74 | 12.41 | 5.17 | 29.61 |
| MLI Mueller Industries Inc |
0.12 0.22% |
55.23 | 15.64 | 18.18 | 2.87 | 3.74 | 2.55 | 9.97 |
| CRS Carpenter Technology Corporation |
-6.77 2.22% |
298.09 | 46.10 | 16.56 | 3.73 | 6.20 | 3.84 | 23.52 |
| AIAGY Aurubis AG ADR |
- -% |
75.28 | 13.21 | 8.81 | 0.49 | 1.45 | 0.44 | 7.89 |
Insteel Industries, Inc., together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers prestressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. Its PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures providing reinforcement for bridges, parking decks, buildings, and other concrete structures. The company's WWR engineered reinforcing product is used in nonresidential and residential construction. It produces a range of WWR products, such as engineered structural mesh, an engineered made-to-order product that is used as the primary reinforcement for concrete elements or structures serving as a reinforcing solution for hot-rolled rebar; concrete pipe reinforcement, an engineered made-to-order product, which is used as the primary reinforcement in concrete pipe, box culverts, and precast manholes for drainage and sewage systems, water treatment facilities, and other related applications; and standard welded wire reinforcement, a secondary reinforcing product for crack control applications in residential and light nonresidential construction, including driveways, sidewalks, and various slab-on-grade applications. It sells its products through sales representatives to the manufacturers of concrete products, rebar fabricators, distributors, and contractors. Insteel Industries, Inc. was founded in 1953 and is headquartered in Mount Airy, North Carolina.
| Name | Title | Year Born |
|---|---|---|
| Mr. Howard Osler Woltz III | Pres, CEO & Chairman | 1956 |
| Mr. Mark A. Carano | Sr. VP, CFO & Treasurer | 1970 |
| Mr. Richard T. Wagner | Sr. VP & COO | 1959 |
| Mr. James F. Petelle | VP of Admin., Sec. & Chief Legal Officer | 1950 |
| Mr. James R. York | Sr. VP of Sourcing & Logistics | 1959 |
| Mr. Scot R. Jafroodi | VP, Chief Accounting Officer & Corp. Controller | 1969 |
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