Thomas & Betts Corporation: Company Profile and SWOT Analysis by ICDResearch

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									Thomas & Betts Corporation

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Thomas & Betts Corporation                                             Financial Snapshot

                                                                       Operating Performance
Fast Facts
                                    8155 T&B Boulevard, Memphis,       The company reported revenue of US$2,004.37
Headquarters Address
                                    38125,United States of America     million during the fiscal year 2010 (2010). The
                                                                       company's revenue grew at a CAGR of 1.77% during
Telephone                           + 1 901 2528000
                                                                       2006–2010, with an annual growth of 9.37% over
                                                                       2009. In 2010, the company recorded an operating
Fax                                 + 1 901 6805112                    margin of 11.01%, as against 9.50% in 2009.

Website                             www.tnb.com
                                                                       Revenue and Margins
Ticker Symbol, Stock Exchange       TNB, New York Stock Exchange

Number of Employees                 8,750

Fiscal Year End                     December

Revenue (in US$ million)            2,004.37




SWOT Analysis

Strengths                           Weaknesses                         Return on Equity

Focus on Operational Discipline     Declining Market Share in Sector   The company recorded a return on equity (ROE) of
                                                                       9.93% for 2010, as compared to its peers, Hubbell
Substantial Decrease in Current                                        Incorporated (Ticker: HUB.B), Mestek Inc (Ticker:
                                    Revenue Concentration              MCCK) and Stanley Black & Decker, Inc. (Ticker:
Liabilities
                                                                       SWK), which recorded ROEs of 14.88%, 4.44% and
Wide Business Operations                                               2.82% respectively. The company reported an
                                                                       operating margin of 11.01% in 2010.
Opportunities                       Threats
                                                                       Return on Equity
Growing Global Electricity Market   Rise in Raw Material Prices

Strategic Acquisitions




                                                                       Liquidity Position

                                                                       The company reported a current ratio of 2.78 in 2010,
                                                                       as compared to its peers, Hubbell Incorporated,
                                                                       Mestek Inc and Stanley Black & Decker, Inc., which
                                                                       recorded current ratios of 2.76, 1.99 and 1.76
                                                                       respectively. As of December 2010, the company
                                                                       recorded cash and short-term investments of worth
                                                                       US$455.20 million, against US$0.32 million current
                                                                       debt. The company reported a debt to equity ratio of
                                                                       0.39 in 2010 as compared to its peers, Hubbell
                                                                       Incorporated, Mestek Inc and Stanley Black & Decker,
                                                                       Inc., which recorded debt to equity ratios of 0.41, 0.11
                                                                       and 0.49 respectively.




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Thomas & Betts Corporation - SWOT Profile                                                                       Page 1
Thomas & Betts Corporation

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TABLE OF CONTENTS

1     Business Analysis ................................................................................................................................... 5
    1.1       Company Overview ................................................................................................................................................5
    1.2       Business Description ..............................................................................................................................................5
    1.3       Major Products and Services .................................................................................................................................6
2     Analysis of Key Performance Indicators ............................................................................................... 7
    2.1       Five Year Snapshot: Overview of Financial and Operational Performance Indicators ..........................................7
    2.2       Key Financial Performance Indicators .................................................................................................................10
      2.2.1       Revenue and Operating Profit .........................................................................................................................10
      2.2.2       Asset, Liabilities and Capex .............................................................................................................................11
      2.2.3       Net Debt vs. Gearing Ratio ..............................................................................................................................12
      2.2.4       Operational Efficiency ......................................................................................................................................13
      2.2.5       Solvency ..........................................................................................................................................................14
      2.2.6       Valuation ..........................................................................................................................................................15
    2.3       Competitive Benchmarking ..................................................................................................................................16
      2.3.1       Market Capitalization .......................................................................................................................................16
      2.3.2       Efficiency ..........................................................................................................................................................17
      2.3.3       Capital Expenditure ..........................................................................................................................................18
      2.3.4       Valuation ..........................................................................................................................................................19
      2.3.5       Turnover – Inventory and Asset .......................................................................................................................20
      2.3.6       Liquidity ............................................................................................................................................................21
3     SWOT Analysis ...................................................................................................
								
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