DLPH
Delphi Automotive PLC
Industrial/Transportation
10/09/2014
Presented
| Date | 10/07/2014 |
| Price | $62.71 |
| Market Cap | $18.80B |
| Ent Value | $20.63B |
| P/E Ratio | 17.75x |
| Book Value | $8.61 |
| Div Yield | 1.3% |
| Shares O/S | 299.63M |
| Ave Daily Vol | 1,910,000 |
| Short Int | 0.70% |
Current
| Price | $17.02 |
| Market Cap | $1.46B |
| Delphi Automotive PLC, together with its subsidiaries, manufactures vehicle components; and provides electrical and electronic, powertrain, safety, and thermal technology solutions for the automotive and commercial vehicle markets worldwide. The company operates in four segments: Electrical/Electronic Architecture, Powertrain Systems, Electronics and Safety, and Thermal Systems. The Electrical/Electronic Architecture segment provides design of the vehicle’s electrical architecture, including connectors, wiring assemblies and harnesses, electrical centers, and hybrid high voltage and safety distribution systems. The Powertrain Systems segment offers systems integration of end-to-end gasoline and diesel engine management systems, such as fuel handling, fuel injection, combustion, electronic controls, test and validation capabilities, aftermarket, and original equipment services. The Electronics and Safety segment offers critical components, systems, and advanced software for passenger safety, security, comfort, and infotainment, as well as vehicle operation, such as body controls, reception systems, infotainment and connectivity systems, hybrid vehicle power electronics, passive and active safety electronics, displays, and mechatronics. The Thermal Systems segment provides powertrain cooling and heating, ventilating, and air conditioning systems consisting of compressors, systems and controls, and heat exchangers for the vehicle markets. The company sells its products and services to the automotive original equipment manufacturers (OEMs), as well as to the aftermarket for replacement parts, including the aftermarket operations of its OEM customers, and to other distributors and retailers. Delphi Automotive PLC is based in Gillingham, the United Kingdom. |
Publicly traded companies mentioned herein: Delphi Automotive PLC (DLPH), Ford Motor Co. (F), General Motors Company (GM)
Highlights
The presenter has been long shares of Delphi Automotive PLC (DLPH) for many years, and believes the risk/ reward at present levels ($63; just 10.5x the Street’s 2015 EPS estimate) is extremely attractive following a ~10% pullback in shares. DLPH is the largest, most diversified auto supplier, and the presenter likes being exposed to the secular “content growth on cars” story, which is an “indisputable trend” at this point. Suppliers like DLPH that can provide electrical, powertrain, and other content can grow in excess of overall production, and US SAAR remains strong.
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