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ODP - The ODP Corporation

NASDAQ -> Consumer Cyclical -> Specialty Retail
Boca Raton, United States

ODP price evolution
ODP
(in millions $) 31 Mar 2022 31 Dec 2021 30 Sep 2021 30 Jun 2021
Current assets
Cash $557 $514 $753 $691
Short term investments
Net receivables $572 $495 $482 $681
Inventory $866 $859 $841 $957
Total current assets $2053 $2389 $2876 $2411
Long term investments
Property, plant & equipment $1365 $1413 $1440 $1586
Goodwill & intangible assets $516 $518 $519 $916
Total noncurrent assets $2476 $2476 $2475 $2967
Total investments
Total assets $4529 $4865 $5351 $5378
Current liabilities
Accounts payable $975 $950 $863 $979
Deferred revenue
Short long term debt $18 $20 $20 $22
Total current liabilities $1966 $2265 $2181 $2100
Long term debt $895 $981 $1106 $1206
Total noncurrent liabilities $1071 $1162 $1308 $1437
Total debt $913 $1001 $1126 $1228
Total liabilities $3037 $3427 $3489 $3537
Shareholders' equity
Retained earnings -$562 -$617 -$343 -$444
Other shareholder equity -$1 -$6 -$30 -$22
Total shareholder equity $1492 $1438 $1862 $1841
(in millions $) 31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Current assets
Cash $514 $729 $698 $658
Short term investments $819
Net receivables $495 $631 $823 $1727
Inventory $859 $930 $1032 $1065
Total current assets $2389 $2355 $3447 $2683
Long term investments
Property, plant & equipment $1413 $1746 $2092 $763
Goodwill & intangible assets $518 $966 $1332 $1336
Total noncurrent assets $2476 $3203 $3864 $3483
Total investments $819
Total assets $4865 $5558 $7311 $6166
Current liabilities
Accounts payable $950 $919 $1026 $1110
Deferred revenue
Short long term debt $20 $24 $841 $95
Total current liabilities $2265 $2093 $3094 $2185
Long term debt $981 $1345 $1783 $1444
Total noncurrent liabilities $1162 $1585 $2044 $1855
Total debt $1001 $1369 $2624 $1539
Total liabilities $3427 $3678 $5138 $4040
Shareholders' equity
Retained earnings -$617 -$409 -$89 -$173
Other shareholder equity -$6 -$32 -$66 -$99
Total shareholder equity $1438 $1880 $2173 $2126
(in millions $) 31 Mar 2022 31 Dec 2021 30 Sep 2021 30 Jun 2021
Revenue
Total revenue $2178 $2042 $2179 $2286
Cost of revenue $1694 $1610 $1675 $1814
Gross Profit $484 $432 $504 $472
Operating activities
Research & development
Selling, general & administrative $396 $385 $382 $428
Total operating expenses $408 $401 $400 $550
Operating income $76 $31 $104 -$78
Income from continuing operations
EBIT $79 -$269 $135 -$73
Income tax expense $19 -$3 $27 $9
Interest expense $5 $8 $7 $6
Net income
Net income $55 -$274 $101 -$88
Income (for common shares) $55 -$274 $101 -$88
(in millions $) 31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Revenue
Total revenue $8465 $9710 $10647 $11015
Cost of revenue $6602 $7578 $8183 $8464
Gross Profit $1863 $2132 $2464 $2551
Operating activities
Research & development
Selling, general & administrative $1558 $1832 $2101 $2193
Total operating expenses $1629 $2384 $2273 $2297
Operating income $234 -$252 $191 $254
Income from continuing operations
EBIT -$136 -$253 $235 $284
Income tax expense $44 $24 $47 $59
Interest expense $28 $42 $89 $121
Net income
Net income -$208 -$319 $99 $104
Income (for common shares) -$208 -$319 $99 $104
(in millions $) 31 Mar 2022 31 Dec 2021 30 Sep 2021 30 Jun 2021
Net income $55 -$274 $101 -$88
Operating activities
Depreciation $34 $36 $21 $43
Business acquisitions & disposals -$1
Stock-based compensation $9 $12 $6 $10
Total cash flows from operations $30 $100 $171 -$11
Investing activities
Capital expenditures -$21 -$26 -$18 -$16
Investments
Total cash flows from investing $53 -$25 -$21 -$33
Financing activities
Dividends paid
Sale and purchase of stock -$14 -$186 -$78 -$46
Net borrowings -$49 -$105 -$7 -$7
Total cash flows from financing -$64 -$291 -$85 -$53
Effect of exchange rate $1 -$3 $2
Change in cash and equivalents $20 -$216 $62 -$62
(in millions $) 31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Net income -$208 -$319 $99 $104
Operating activities
Depreciation $146 $189 $204 $192
Business acquisitions & disposals -$29 -$30 -$22 -$81
Stock-based compensation $38 $41 $33 $27
Total cash flows from operations $346 $485 $366 $627
Investing activities
Capital expenditures -$73 -$68 -$150 -$187
Investments $818
Total cash flows from investing -$79 $736 -$119 -$183
Financing activities
Dividends paid -$13 -$55 -$55
Sale and purchase of stock -$333 -$35 -$49 -$42
Net borrowings -$125 -$1137 -$97 -$298
Total cash flows from financing -$459 -$1193 -$212 -$414
Effect of exchange rate $1 $5 -$9
Change in cash and equivalents -$192 $29 $40 $21
Fundamentals
Market cap $1.49B
Enterprise value $1.85B
Shares outstanding 49.09M
Revenue $8.69B
EBITDA $6.00M
EBIT -$128.00M
Net Income -$206.00M
Revenue Q/Q -7.95%
Revenue Y/Y -7.12%
P/E ratio -7.23
EV/Sales 0.21
EV/EBITDA 307.65
EV/EBIT -14.42
P/S ratio 0.17
P/B ratio 1.00
Book/Share 30.41
Cash/Share 11.35
EPS -$4.20
ROA -4.09%
ROE -12.42%
Debt/Equity 2.38
Net debt/EBITDA 413.33
Current ratio 1.04
Quick ratio 0.60