CLCT  Collectors Universe Inc.

Exchange

NASDAQ

Sector

Miscellaneous

Industry

Business Services

Market Cap.

221.31M

Vuru Grade

55.00/100

Current Price

$24.81
+0.05 (+0.20%)

Growth Price

$8.79
Overvalued by 64.56%

Stability Price

$11.65
Overvalued by 53.04%

Company Metrics

  • P/E 25.09
  • P/S 3.15
  • P/B 13.88
  • EPS 0.99
  • Cash ROIC 281.67%
  • Cash Ratio 0.79
  • Dividend 1.4 / 5.65%
  • Avg. Vol. 26,740.00
  • Shares 8.92M
  • Market Cap. 221.31M

Company Description

Collectors Universe, Inc. provides third-party authentication, grading, and related services for rare and high-value collectibles consisting of coins, trading cards, stamps, sports memorabilia, event tickets, and autographs. The company offers authentication and grading services for coins under the Professional Coin Grading Service brand name; sports and trading cards under the Professional Sports... more


Download 10 Years of Financial Statements:
Income Statement   Balance Sheet   Cash Flow

News

What Collectors Universe, Inc. Could Do To Unlock Hidden Value
Seeking Alpha - Oct 26, 2017
Collectors Universe operates in a relatively small niche, which is enticing as it attracts little competition. Collectors Universe has an elephant in the room, something that can be considered the kiss of death in the investing world: the ...
Why Collectors Universe Is Surging
Seeking Alpha - Nov 7, 2017
Shares of Collectors Universe (CLCT) are fluctuating between a 7-10% gain on the day driven by an incredible earnings report under new CEO Joseph Orlando.
Collectors Universe, Inc. (CLCT) Ex-Dividend Date Scheduled for November 14, 2017
Nasdaq - Nov 13, 2017
Collectors Universe, Inc. ( CLCT ) will begin trading ex-dividend on November 14, 2017. A cash dividend payment of $0.35 per share is scheduled to be paid on November 24, 2017.
Collectors Universe, Inc. (CLCT) Issues Quarterly Earnings Results - The Ledger Gazette
Nov 24, 2017 will mean $0.35 dividends for Collectors Universe, Inc. (NASDAQ ... - Weekly Register
Collectors Universe: Cash Operating Income Continues To Surge
Seeking Alpha - Sep 6, 2017
Collectors Universe posted another great quarter, though some stock-based comp made earnings look worse. Adjusted EPS came in at around $1.30 for the year and free cash flow nearly covered the dividend.
Collectors Universe Is On Sale
Seeking Alpha - Jul 11, 2017
While I only ended up with an Echo, I also ended up with a starter position in Collectors Universe (CLCT). The stock fell about 6.5% without an explicit news event, and I think shares look reasonably attractive.
Collectors Universe: Growth In The Distance, But Time To Take Some Profits
Seeking Alpha - Jan 12, 2017
Collectors Universe (NASDAQ: CLCT)'s leading brands PCGS and PSA are market leaders in the collectibles market. While we see long-term revenue growth from its expansion in China, the growth will take time.
Collectors Universe: When Less May Be More
Seeking Alpha - Feb 29, 2016
Collectors Universe, Inc. (NASDAQ:CLCT) provides collectors, curators, lenders, and others fee-based expert valuation and expert identification services.
Collectors Universe: Declining Industry Leads To Lack Of Long Term Growth
Seeking Alpha - Dec 19, 2016
However, Collectors Universe (NASDAQ:CLCT), one of two leading firms in providing third-party authentication to coins and other collectibles, remains a profitable firm with low cost structures and a respected name in the industry.
Collectors Universe's (CLCT) CEO Joseph J. Orlando on Q3 2017 Results ...
Seeking Alpha - Nov 4, 2017
Good afternoon, everyone, and thank you for joining us to discuss Collectors Universe's financial results for the first quarter ended September 30, 2017.
Collectors Universe Inc. (CLCT) Soars 9.34% on November 03 - Equities.com
Collectors Universe, Inc. (CLCT) – The Juice Is Loose (Almost)
ValueWalk - Aug 14, 2017
According to the company's description “We provide authentication and grading services to dealers and collectors of coins, trading cards, event tickets, autographs and historical and sports memorabilia (“collectibles”).
Growth Rate Assumed by Market

We did a reverse valuation to calculate the growth rate the market is assuming for CLCT to be considered fairly valued at its current market price. It's useful to compare this to the growth rate we're assuming for the Growth Price.

Future Free Cash Flow Growth Rate

This is the annual growth rate we've applied to calculate CLCT's Free Cash Flow for the next 10 years. To calculate it, we looked at several time periods of the last 10 years. Feel free to adjust it, but we limit the initial growth rate to 20% and slow it down over the years. Otherwise, long-term sustainability issues come into play.

Discount Rate

The discount rate is the annual rate of return an investor requires to take the risk of investing in a single stock. To account for that risk, this should be above 8-10%, as this is the avg. annual rate of return for the S&P500 over the past 100 years.

$24.81 Current Price

$8.79 Growth Price (DCF)

Overvalued by 64.56%


Growth Rate Assumed by Market: 28.90%


Future Free Cash Flow Growth Rate: 0.0%


Discount Rate: 15.0%


Show Free Cash Flow numbers

$11.65 Stability Price (EPV)

Overvalued by 53.04%


Discount Rate: 15.0%

$0.58 NCA Price

Overvalued by 97.68%

$10.36 Book Price

Overvalued by 58.24%


Varying Cash Return on Invested Capital over the past 5 years

CLCT has efficiently invested its financial resources in buildings, projects, and equipment, resulting in strong returns. However, there is a substantial variation in their Cash ROIC from year-to-year. This company may have unreliable free cash flow or operates in a business where invested capital costs increase substantially on a sporadic basis. Look at reasons for this inconsistency to determine the likelihood of future sustainability.

CLCT has created $281.67 of cash for every $100 invested.
Figures in USD. Fiscal year ends in June
20132014201520162017
Free Cash Flow 7.94M 10.74M 9.33M 6.67M 9.71M
divided by
Invested Capital 3.99M 2.32M 2.28M 3.63M 6.37M
Cash ROIC 198.97% 463.56% 409.35% 183.89% 152.57%

Excellent Return on Equity over the past 5 years

Over the past 5 years, CLCT has generated strong profits with money shareholders have invested. This is considered one of the best indicators of quality management. Beware of extremely high Return on Equity (> 50%) as this is often unsustainable.

CLCT has generated $41.60 of Earnings for every $100 of Shareholders' Equity.
Figures in USD. Fiscal year ends in June
20132014201520162017
Net Income 5.73M 7.36M 7.40M 7.64M 8.51M
divided by
Stockholders' Equity 20.56M 20.64M 18.47M 15.00M 15.92M
Return on Equity 27.87% 35.65% 40.07% 50.95% 53.46%

Good Business Performance over the past 10 years

It's likely CLCT has been unable to maintain profitability in tough economic times, making it a somewhat cyclical business. The other possibility is CLCT has expended significant capital on items such as property, plant and equipment in specific years. Look for correlations.

CLCT has created positive free cash flow for 7 or 8 of the past 10 years.
Figures in USD. Fiscal year ends in June
2008200920102011201220132014201520162017
Free Cash Flow -5.69M -885,000.00 8.75M 9.91M 9.49M 7.94M 10.74M 9.33M 6.67M 9.71M

Good Balance Sheet

CLCT's Total Assets double Total Liabilities. Its financial position is adequate. Remember to check Shareholders' Equity to see if it's stable or growing. It's one of the best measures of whether a company is creating value for shareholders.
Figures in USD. Fiscal year ends in June
2008200920102011201220132014201520162017
Cash 23.35M 23.87M 20.32M 21.93M 21.21M 18.71M 19.91M 17.25M 11.97M 9.83M
Current Assets 33.57M 29.14M 28.04M 27.77M 27.45M 24.73M 27.00M 23.87M 18.96M 17.82M
Total Assets 52.02M 36.27M 38.69M 36.51M 36.45M 33.02M 35.59M 32.20M 28.19M 28.61M
Current Liabilities 7.57M 7.76M 7.78M 8.47M 9.32M 10.32M 13.36M 12.67M 12.60M 12.42M
Total Liabilities 8.19M 11.49M 11.07M 11.44M 11.91M 12.46M 14.95M 13.73M 13.20M 12.69M
Stockholder' Equity 43.83M 24.78M 27.61M 25.07M 24.53M 20.56M 20.64M 18.47M 15.00M 15.92M
Current Ratio 4.44 3.76 3.60 3.28 2.94 2.40 2.02 1.88 1.50 1.44
TL-to-TA 0.16 0.32 0.29 0.31 0.33 0.38 0.42 0.43 0.47 0.44

Low or No Reinvestment of Profits over the past 10 years

CLCT has either been retaining a small amount of their earnings or has done so inconsistently. A lack of consistency could be due to CLCT operating at a loss or them having such a strong economic moat they feel comfortable spending profits on growth. Be wary of future prospects and if applicable, inspect the moat's sustainability.
Figures in USD. Fiscal year ends in June
2008200920102011201220132014201520162017
Retained Earnings -32.17M -51.19M -40.53M -45.34M -49.16M -54.03M -57.38M -61.39M -65.66M -69.04M
Retained Earnings Growth - -59.09% 20.82% -11.87% -8.43% -9.90% -6.21% -6.99% -6.95% -5.15%

Highly Competitive Industry over the past 10 years

It's likely that CLCT is in an industry with low barriers to entry, spurring high competition. If Gross Margins are at least satisfactory, it's likely CLCT invests heavily in R&D and Sales, General & Administrative expenses.

Only $4.36 of every $100 of Revenue have been profit, on average over the past 10 years.
Figures in USD. Fiscal year ends in June
2008200920102011201220132014201520162017
Net Income -15.63M -16.92M 16.70M 5.12M 6.75M 5.73M 7.36M 7.40M 7.64M 8.51M
divided by
Revenue 41.98M 35.91M 39.76M 44.43M 48.36M 49.09M 60.57M 61.68M 60.95M 70.16M
Net Profit Margin -37.23% -47.12% 41.99% 11.52% 13.96% 11.67% 12.15% 12.00% 12.53% 12.13%

Strong Pricing Power over the past 10 years

CLCT has maintained substantial gross margins, suggesting that they have been able to set prices without consideration of the cost of goods sold. This potentially leaves flexibility in inflationary environments to raise prices on consumers and maintain profitability.

$59.01 of every $100 worth of sales have been Gross Profit, on average over the past 10 years.
Figures in USD. Fiscal year ends in June
2008200920102011201220132014201520162017
Gross Profit 18.21M 19.53M 24.17M 27.18M 28.96M 30.02M 37.91M 38.63M 38.05M 43.31M
divided by
Revenue 41.98M 35.91M 39.76M 44.43M 48.36M 49.09M 60.57M 61.68M 60.95M 70.16M
Gross Margin 43.38% 54.38% 60.78% 61.18% 59.88% 61.16% 62.58% 62.63% 62.43% 61.73%

Low Capital Intensity over the past 10 years

CLCT has consistently used a small portion of their Net Income buying new equipment or investing in new facilities. This indicates that CLCT may require minimal investment to stay competitive. This leaves them with extra money to spend on growing their business and potentially buying back stock.

18.25% of Profits are being spent on Capital Expenditures, like Property, Plant, & Equipment, required to run the business.
Figures in USD. Fiscal year ends in June
2008200920102011201220132014201520162017
Capital Expenditure 3.42M 123,000.00 479,000.00 637,000.00 1.30M 1.11M 1.38M 1.28M 2.06M 2.47M
divided by
Net Income -15.63M -16.92M 16.70M 5.12M 6.75M 5.73M 7.36M 7.40M 7.64M 8.51M
Capital Expenditure Ratio -21.86% -0.73% 2.87% 12.44% 19.26% 19.42% 18.75% 17.23% 27.02% 29.03%

Very Strong Dividend History over the past 10 years

CLCT has consistently distributed a dividend for at least the past 10 years. Such a long dividend history suggests CLCT is very established in its market and that its dividend distribution is likely to continue for a significant period of time.
Figures in USD. Fiscal year ends in June
2008200920102011201220132014201520162017
Dividend Paid 8.52M 2.09M 5.94M 9.94M 10.36M 10.80M 10.73M 11.36M 12.01M 11.91M
divided by
Shares Outstanding 9.30M 9.14M 7.64M 7.80M 7.99M 8.10M 8.25M 8.52M 8.55M 8.63M
Dividend Paid Per Share 0.92 0.23 0.78 1.28 1.30 1.33 1.30 1.33 1.41 1.38
Price at Year End 1.93 7.39 12.61 14.27 10.01 17.11 21.02 15.37 21.23 25.49
Dividend Yield 47.48% 3.10% 6.17% 8.94% 12.95% 7.79% 6.19% 8.68% 6.62% 5.42%

History of Stock Buybacks over the past 10 years

CLCT has some history of delivering increased value for shareholders in the form of stock buybacks. These have helped improve financial metrics and increase each shareholders' relative ownership stake in the company, due to fewer shares outstanding and holding the same number of shares.
Figures in USD. Fiscal year ends in June
2008200920102011201220132014201520162017
Shares Outstanding 9.30M 9.14M 7.64M 7.80M 7.99M 8.10M 8.25M 8.52M 8.55M 8.63M
Stock Bought Back - 1.75% 19.62% -2.06% -2.37% -1.41% -1.77% -3.18% -0.32% -0.98%
Share your thoughts about CLCT

Sign Up or Log In to start contributing!


Discussion

Nothing here yet. Be the first to post!