Revenue: $97.27M (YoY down 21.13%, QoQ up 3.40%); Gross Profit: $97.27M (YoY up 6.61%, QoQ up 3.40%); Operating Income: $49.35M (YoY up 17.30%, QoQ up 24.79%); Net Income: $36.79M (YoY up 13.44%, QoQ up 24.88%); EPS: $1.49 (YoY up 14.62%, QoQ up 25.21%).
Margins and profitability show robust operating leverage in QQ2 2024, with an operating margin of 50.7% and a net margin of 37.8% (based on reported metrics). EBITDA is $49.40M, with an EBITDAR of 0.508. Interest expense stood at $47.12M while depreciation and amortization were $2.83M, contributing to an EBITDA-driven profitability narrative.
Liquidity and balance sheet: Total assets $8.878B; cash and cash equivalents $89.6M; short-term investments $1.523B; total current assets $1.645B; total current liabilities $7.484B; long-term debt $97.9M; short-term debt $288.2M; total debt $386.1M; stockholders’ equity $1.043B. Debt-to-capitalization 0.232, debt-to-equity 0.302, ROA 0.414%, ROE 3.53%, and cash flow from operations $49.99M with free cash flow $46.41M. Dividend payout ratio implied in the data is about 23.4%. Compared with peers, SRCE trades around a price-to-earnings of ~8.9 and price-to-book of ~1.26, suggesting a modestly discounted valuation vs many regional peers with higher earnings multiples.