This is our first report on an industry behemoth providing flow creation and industrial products, Ingersoll Rand. Despite persistent inflation, rising interest rates, supply chain challenges, and geopolitical uncertainties, Ingersoll Rand ended the year on a high note with solid fourth-quarter and full-year results. The company delivered an all-around beat as demand remained strong. They experienced significant organic order and revenue growth of 11% and 16% in 2022. They have also established their IR digital team to speed up developing new revenue streams as they continue aligning their business with the big growth trends. Ingersoll’s capital allocation trends continue to be dominated by M&A. In 2022, the company invested about $800 million in 12 acquisitions, including the SPX FLOW purchase, with a yearly revenue of about $300 million. These acquisitions have increased the company’s addressable market. On the other hand, the EVO Series pump is taking advantage of markets that are growing quickly, like those for electric vehicle batteries, the production of specialty chemicals, and applications in food and beverage. They intend to maintain their track record of market outperformance in the coming quarters. We initiate coverage on the stock of Ingersoll Rand, Inc. with a ‘Hold’ rating.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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