Hibbett Stock Intrinsic Value – HIBBETT Reports Third Quarter FY2024 Earnings Results on October 31, 2023
December 7, 2023
🌥️Earnings Overview
HIBBETT ($NASDAQ:HIBB) reported total revenue of USD 431.9 million for the third quarter of FY2024 ending October 31 2023, a slight decrease of 0.3% compared to the same period last year. Net income for the period was reported at USD 25.5 million, down 0.3% year-on-year.
Stock Price
HIBBETT reported their third quarter FY2024 earnings results on Tuesday, October 31, 2023. The company’s stock opened at $62.0 in the morning, and closed at $58.8 at the end of the day. This represented a 9.8% increase from the prior closing price of $53.6. The strong performance of HIBBETT’s stock was an indication of its continuing success and financial health.
Investors have been especially confident in the company’s future prospects, given its solid track record of consistent growth and profits. The strong earnings report only further reinforces the belief that HIBBETT is a strong and reliable investment for the long-term. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Hibbett. HIBBETT_Reports_Third_Quarter_FY2024_Earnings_Results_on_October_31_2023″>More…
| Total Revenues | Net Income | Net Margin |
| 1.72k | 110.7 | 6.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Hibbett. HIBBETT_Reports_Third_Quarter_FY2024_Earnings_Results_on_October_31_2023″>More…
| Operations | Investing | Financing |
| 87.53 | -63.17 | -14.91 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Hibbett. HIBBETT_Reports_Third_Quarter_FY2024_Earnings_Results_on_October_31_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 950.89 | 561.84 | 32.06 |
Key Ratios Snapshot
Some of the financial key ratios for Hibbett are shown below. HIBBETT_Reports_Third_Quarter_FY2024_Earnings_Results_on_October_31_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.3% | 15.8% | 8.6% |
| FCF Margin | ROE | ROA |
| 1.7% | 23.2% | 9.7% |
Analysis – Hibbett Stock Intrinsic Value
At GoodWhale, we have conducted a thorough analysis of HIBBETT‘s fundamentals. Our proprietary valuation line has revealed that the intrinsic value of HIBBETT share is around $71.5. Currently, the stock is trading at $58.8, meaning that it is undervalued by 17.8%. This provides an opportunity for investors to buy in and benefit from the discrepancy between the intrinsic value and the current market price. We believe that HIBBETT’s stock is undervalued and presents an attractive investment opportunity. More…
Peers
The company’s main competitors are C’sMEN Co Ltd, Shimamura Co Ltd, and Konaka Co Ltd.
– C’sMEN Co Ltd ($TSE:3083)
Singing River Health System is a non-profit, community-owned health system located in Jackson County, Mississippi. The health system includes Singing River Hospital, George E. Weems Memorial Hospital, Ocean Springs Hospital, and a number of other healthcare facilities. The system has a total of 2,000 employees and provides care for patients in Mississippi, Alabama, and Louisiana.
– Shimamura Co Ltd ($TSE:8227)
Shimamura Co Ltd is a Japanese company that operates a chain of discount stores. As of 2022, the company had a market capitalization of 449.84 billion yen and a return on equity of 7.86%. The company was founded in 1954 and is headquartered in Tokyo, Japan.
– Konaka Co Ltd ($TSE:7494)
Konaka Co Ltd is a Japanese electronics company with a market cap of 9.67B as of 2022. The company has a Return on Equity of 0.49%. Konaka is primarily engaged in the manufacture and sale of electronic equipment, including semiconductor production equipment, electronic measuring instruments, and electronic control devices. The company also offers services related to the design, development, and maintenance of electronic equipment.
Summary
Hibbett Sports Inc. reported their earnings results for the third quarter of FY2024 on October 31st, 2023. Total revenue was USD 431.9 million, a slight decrease of 0.3% compared to the previous year. Net income for the period was reported at USD 25.5 million, also a slight decrease of 0.3% compared to a year ago.
Despite the modest decrease in profits, the stock price of the company moved up on the day of the earnings announcement, indicating investor optimism towards the company’s financial performance in the quarter. Despite the decrease in revenue and profits, analysts believe that Hibbetts Sports is still in a good position from an investing perspective, with a solid balance sheet and strong cash flows.
