Steel Partners Holdings (SPLP) AI Stock Analysis

• Market Cap: $825.58M
• Dividend Yield: N/A
• Average Volume (3M): 650.00
• Price to Earnings (P/E): 4.4
• Beta (1Y): -0.33
• Revenue Growth: 5.04%
• EPS Growth: 7.61%
• Country: US
• Employees: 5,200
• Sector: Industrials
• Sector Strength: 72
• Industry: Conglomerates
• EPS (TTM): 3.43
• Shares Outstanding: 19,150,620
• 10 Day Avg. Volume: 166
• 30 Day Avg. Volume: 650
• PEG Ratio: 0.04
• Price to Book (P/B): 0.75
• Price to Sales (P/S): 0.42
• P/FCF Ratio: 2.85
• Enterprise Value/Market Cap: 0.85
• Enterprise Value/Revenue: 0.34
• Enterprise Value/Gross Profit: 0.79
• Enterprise Value/Ebitda: 1.82
• 1Y Price Target: $48.00
• Price Target Upside: 11.34% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 74 Outperform
• Price Target: $48.00 ▲(11.34% Upside)

Steel Partners Holdings benefits from strong financial performance and an attractive valuation, indicating potential for growth. However, technical indicators suggest limited momentum, which could impact short-term performance.

Steel Partners Holdings Business Overview & Revenue Model

Company Description

Steel Partners Holdings L.P. (SPLP) is a diversified holding company that operates through various subsidiaries across multiple sectors, including industrials, financial services, and real estate. The company primarily focuses on investing in and managing businesses that offer a range of products and services, such as manufacturing components for industrial applications, providing logistics solutions, and offering financial consulting. SPLP aims to create value by leveraging its operational expertise and strategic investments in its core industries.

How the Company Makes Money

Steel Partners Holdings generates revenue through a multi-faceted business model that includes income from its subsidiaries, investments, and management fees. Key revenue streams come from its industrial segment, which manufactures and sells products to various sectors, including aerospace and defense, as well as its financial services segment, which provides consulting and investment management. The company also earns revenue through real estate investments, both in property management and leasing. Strategic partnerships with other firms and a focus on acquiring undervalued businesses further enhance SPLP's earnings potential by driving operational efficiencies and expanding its market reach.

Steel Partners Holdings Financial Statement Overview

Summary

Steel Partners Holdings has demonstrated strong financial health with consistent revenue growth and efficient profitability metrics. The low leverage and high return on equity are commendable, although fluctuations in capital structure and negative cash flow from investing may pose future challenges. The company appears well-positioned to continue its growth trajectory, but attention should be paid to maintaining EBIT margins and improving cash flow metrics.

Income Statement

Steel Partners Holdings has demonstrated a solid performance in its income statement metrics with consistent revenue growth from 2020 to TTM (Trailing-Twelve-Months). The company achieved a high gross profit margin of 42.34% and a net profit margin of 12.51% in TTM, indicating efficient cost management and profitability. Revenue growth has been steady, and both EBIT and EBITDA margins are strong at 14.58% and 16.88% respectively, reflecting operational efficiency. However, there is a slight decline in EBIT compared to the prior year, which could be a point of concern if it continues.

Balance Sheet

The balance sheet shows a stable financial position with a debt-to-equity ratio of 0.15 in TTM, indicating low leverage and reduced financial risk. The return on equity (ROE) is impressive at 21.90%, illustrating effective use of shareholders' equity to generate profits. The equity ratio of 33.39% suggests a healthy balance between debt and equity. However, the company's equity base has fluctuated over the years, which may suggest potential volatility in capital structure.

Cash Flow

The cash flow statement reflects robust operating cash flow at $366 million in TTM, showing strong cash generation capability. The free cash flow growth rate is healthy, and the operating cash flow to net income ratio of 1.43 indicates efficient conversion of income to cash. However, cash flow from investing activities remains negative, which can impact future cash reserves. The free cash flow to net income ratio is slightly below expectations at 1.19, suggesting room for improvement.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.07B	2.03B	1.91B	1.70B	1.52B	1.31B
Gross Profit	887.13M	875.49M	670.18M	576.30M	508.25M	439.04M
EBITDA	386.27M	379.91M	236.17M	349.90M	260.67M	191.64M
Net Income	216.84M	261.56M	150.83M	205.97M	131.41M	72.67M
Balance Sheet
Total Assets	3.65B	3.58B	3.99B	3.24B	2.68B	3.93B
Cash, Cash Equivalents and Short-Term Investments	346.45M	404.44M	577.93M	234.45M	325.36M	135.89M
Total Debt	132.10M	174.35M	445.64M	422.73M	795.68M	2.45B
Total Liabilities	2.40B	2.41B	2.99B	2.43B	2.01B	3.40B
Stockholders Equity	1.25B	1.13B	958.63M	801.46M	663.34M	534.66M
Cash Flow
Free Cash Flow	259.77M	298.32M	-30.23M	-257.77M	25.45M	300.86M
Operating Cash Flow	321.03M	363.28M	21.22M	-210.23M	77.77M	324.09M
Investing Cash Flow	-156.46M	111.16M	-142.20M	-176.56M	1.52B	-1.90B
Financing Cash Flow	-249.25M	-646.31M	464.56M	297.17M	-1.40B	1.57B

Steel Partners Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 43.11
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SPLP, the sentiment is Positive. The current price of 43.11 is above the 20-day moving average (MA) of 42.67, above the 50-day MA of 42.40, and above the 200-day MA of 40.57, indicating a bullish trend. The MACD of 0.07 indicates Positive momentum. The RSI at 53.92 is Neutral, neither overbought nor oversold. The STOCH value of 38.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SPLP.

Steel Partners Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SPLP	74 Outperform	$825.58M	4.36	18.71%	―	5.04%	7.61%
IRS	68 Neutral	$936.44M	4.59	13.98%	8.26%	1.13%	―
CODI	65 Neutral	$549.22M	―	-4.98%	13.70%	6.77%	9.95%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
CRESY	62 Neutral	$622.37M	6.17	11.12%	9.69%	-8.49%	-12.31%
SEB	62 Neutral	$3.27B	23.77	2.92%	0.26%	4.70%	-44.60%
MATW	51 Neutral	$712.81M	―	-12.81%	4.32%	-11.13%	-351.71%

Steel Partners Holdings Corporate Events

Steel Partners Holdings Reflects on 2024 Success and Growth

On March 11, 2025, Steel Partners Holdings L.P. published an annual letter reflecting on its growth and strategic achievements. The company highlighted its successful acquisition of Steel Connect, now a wholly-owned subsidiary, and reported strong financial performance for 2024, with increased revenue and net income. The Steel Business System has been pivotal in enhancing operational efficiency, contributing to significant profitability improvements across its business units. Notably, Dunmore and HandyTube achieved record profitability, while Indiana Tube Corporation maintained good EBITDA margins despite market challenges. The company’s strategic focus and operational improvements have positioned it for continued growth in 2025.