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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 0.02
MRC's Cash to Debt is ranked higher than
52% of the 453 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.34 vs. MRC: 0.02 )
MRC' s 10-Year Cash to Debt Range
Min: 0.02   Max: No Debt
Current: 0.02

Equity to Asset 0.36
MRC's Equity to Asset is ranked higher than
62% of the 469 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.49 vs. MRC: 0.36 )
MRC' s 10-Year Equity to Asset Range
Min: 0.22   Max: 0.4
Current: 0.36

0.22
0.4
Interest Coverage 5.14
MRC's Interest Coverage is ranked higher than
64% of the 303 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 11.39 vs. MRC: 5.14 )
MRC' s 10-Year Interest Coverage Range
Min: 0.5   Max: 5.14
Current: 5.14

0.5
5.14
F-Score: 4
Z-Score: 2.40
M-Score: -2.07
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry
vs
history
Operating margin (%) 4.97
MRC's Operating margin (%) is ranked higher than
70% of the 480 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 9.81 vs. MRC: 4.97 )
MRC' s 10-Year Operating margin (%) Range
Min: -6.74   Max: 7.31
Current: 4.97

-6.74
7.31
Net-margin (%) 2.36
MRC's Net-margin (%) is ranked higher than
69% of the 480 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 5.24 vs. MRC: 2.36 )
MRC' s 10-Year Net-margin (%) Range
Min: -9.28   Max: 2.91
Current: 2.36

-9.28
2.91
ROE (%) 9.93
MRC's ROE (%) is ranked higher than
82% of the 479 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 8.21 vs. MRC: 9.93 )
MRC' s 10-Year ROE (%) Range
Min: -7.23   Max: 12.37
Current: 9.93

-7.23
12.37
ROA (%) 3.72
MRC's ROA (%) is ranked higher than
77% of the 484 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 3.73 vs. MRC: 3.72 )
MRC' s 10-Year ROA (%) Range
Min: -1.71   Max: 4.54
Current: 3.72

-1.71
4.54
ROC (Joel Greenblatt) (%) 21.63
MRC's ROC (Joel Greenblatt) (%) is ranked higher than
87% of the 482 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 11.68 vs. MRC: 21.63 )
MRC' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 15.78   Max: 33.52
Current: 21.63

15.78
33.52
» MRC's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q4 2013

MRC Guru Trades in Q4 2013

RS Investment Management 2,752,754 sh (+41.46%)
Steven Cohen 20,538 sh (+22.67%)
Columbia Wanger 2,954,000 sh (-0.24%)
Ron Baron 1,539,595 sh (-4.32%)
Alan Fournier 5,922,083 sh (-10.25%)
Joel Greenblatt 108,258 sh (-28.09%)
Jim Simons 155,000 sh (-43.22%)
» More
Q1 2014

MRC Guru Trades in Q1 2014

Louis Moore Bacon 32,873 sh (New)
Paul Tudor Jones 25,847 sh (New)
Joel Greenblatt 903,948 sh (+734.99%)
RS Investment Management 3,374,628 sh (+22.59%)
Columbia Wanger 2,947,000 sh (-0.24%)
Alan Fournier 4,931,187 sh (-16.73%)
Ron Baron 1,118,071 sh (-27.38%)
Jim Simons 109,090 sh (-29.62%)
Steven Cohen 7,236 sh (-64.77%)
» More
Q2 2014

MRC Guru Trades in Q2 2014

Jim Simons 305,000 sh (+179.59%)
Paul Tudor Jones 51,675 sh (+99.93%)
Ron Baron 1,380,694 sh (+23.49%)
Steven Cohen 2,289,100 sh (unchged)
Louis Moore Bacon Sold Out
Alan Fournier Sold Out
Columbia Wanger 2,920,200 sh (-0.91%)
RS Investment Management 2,729,441 sh (-19.12%)
Joel Greenblatt 8,357 sh (-99.08%)
» More
Q3 2014

MRC Guru Trades in Q3 2014

Ruane Cunniff 372,000 sh (New)
Jim Simons 406,600 sh (+33.31%)
Paul Tudor Jones 64,039 sh (+23.93%)
RS Investment Management 3,290,679 sh (+20.56%)
Ron Baron 1,569,137 sh (+13.65%)
Joel Greenblatt Sold Out
Columbia Wanger 1,696,900 sh (-41.89%)
Steven Cohen 856,700 sh (-62.57%)
» More
» Details

Insider Trades

Latest Guru Trades with MRC

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Ruane Cunniff 2014-09-30 New Buy0.05%$23.33 - $28.1 $ 14.6-43%372000
Joel Greenblatt 2014-09-30 Sold Out $23.33 - $28.1 $ 14.6-43%0
Joel Greenblatt 2014-06-30 Reduce -99.08%0.37%$26.29 - $29.26 $ 14.6-49%8357
Ron Baron 2014-06-30 Add 23.49%0.03%$26.29 - $29.26 $ 14.6-49%1380694
Joel Greenblatt 2014-03-31 Add 734.99%0.33%$24.91 - $32.26 $ 14.6-48%903948
Ron Baron 2014-03-31 Reduce -27.38%0.06%$24.91 - $32.26 $ 14.6-48%1118071
Joel Greenblatt 2013-12-31 Reduce -28.09%0.04%$26.75 - $32.49 $ 14.6-52%108258
Joel Greenblatt 2013-09-30 Add 186.6%0.08%$24.07 - $28.97 $ 14.6-45%150549
Joel Greenblatt 2013-06-30 New Buy0.06%$26.85 - $33.7 $ 14.6-51%52529
Ron Baron 2013-06-30 Add 29.96%0.05%$26.85 - $33.7 $ 14.6-51%1462817
Ron Baron 2013-03-31 Add 32.95%0.05%$27.62 - $32.93 $ 14.6-52%1125623
Ron Baron 2012-12-31 New Buy0.15%$22.8 - $28.12 $ 14.6-42%846645
Premium More recent guru trades are included for Premium Members only!!
Premium More recent guru trades are included for USA Subscribe Members only!!
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Guru Investment Theses on MRC Global Inc

Baron Funds Comments on MRC Global - Feb 06, 2013

During the quarter, the Fund initiated a position in MRC Global, Inc. (MRC) With approximately $6 billion in sales, MRC Global is the largest distributor of pipes, valves and fittings (PVF) to the energy end market. Though the company became public earlier in 2012, its predecessor businesses date back nearly a century. Based in Houston, MRC carries a broad portfolio of highly technical and mission-critical products found on a variety of energy infrastructure assets, ranging from pipelines to refineries to drilling rigs. The company's blue chip customer base includes Conoco, Exxon Mobil, BP and Royal Dutch Shell. These customers rely on value-added distributors like MRC to help them save costs, cut working capital and streamline their supply chains. In particular, MRC's 'one-stop-shop' approach allows global energy players the ability to consolidate their vendors and rely on one global supplier for all their PVF needs.

MRC has good visibility into its revenue stream, a factor that we find attractive. The majority of products MRC distributes are tied to maintenance and repair contracts, in which regular wear and tear at customer facilities generates recurring revenue. Customer renewal rates on these contracts run in excess of 90%. The company operates 400 facilities, including 200 service centers, 22 valve shops and 180 pipe yards that are strategically located near major shale and refining regions across the globe. We are optimistic about the company's growth prospects for several reasons, including strong end market demand driven by promising new shale discoveries, unconventional drilling techniques, and the need to upgrade aging energy transmission infrastructure. Furthermore, MRC's business is well-diversified across the three key segments of the energy market: upstream, midstream and downstream.

In addition to posting double-digit organic growth during the last three years, MRC has also done a fine job acquiring smaller PVF distributors and gaining operational efficiencies. We envision ongoing acquisitions, particularly overseas where margins are higher and competition more fragmented. International revenues represent just 20% of the business today, whereas an estimated 75% of total global energy spending occurs outside North America.

Finally, we believe that MRC possesses a high quality management team. CEO Andrew Lane has a long track record in the energy sector, serving most recently as the COO of Halliburton until 2008, when he joined MRC prior to its IPO, citing its compelling growth prospects and market share opportunities.

From Baron Funds' fourth quarter letter.

Check out Ron Baron latest stock trades

Ratios

vs
industry
vs
history
P/E(ttm) 10.90
MRC's P/E(ttm) is ranked higher than
87% of the 513 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 18.00 vs. MRC: 10.90 )
MRC' s 10-Year P/E(ttm) Range
Min: 10.54   Max: 26.71
Current: 10.9

10.54
26.71
P/B 1.00
MRC's P/B is ranked higher than
79% of the 513 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.10 vs. MRC: 1.00 )
MRC' s 10-Year P/B Range
Min: 1   Max: 2.75
Current: 1

1
2.75
P/S 0.30
MRC's P/S is ranked higher than
95% of the 513 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.87 vs. MRC: 0.30 )
MRC' s 10-Year P/S Range
Min: 0.25   Max: 0.63
Current: 0.3

0.25
0.63
EV-to-EBIT 9.89
MRC's EV-to-EBIT is ranked higher than
85% of the 513 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 12.67 vs. MRC: 9.89 )
MRC' s 10-Year EV-to-EBIT Range
Min: 8.8   Max: 16.1
Current: 9.89

8.8
16.1
PEG 0.59
MRC's PEG is ranked higher than
93% of the 513 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 9999.00 vs. MRC: 0.59 )
MRC' s 10-Year PEG Range
Min: 0   Max: 10023
Current: 0.59

0
10023
Current Ratio 2.57
MRC's Current Ratio is ranked higher than
86% of the 477 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.77 vs. MRC: 2.57 )
MRC' s 10-Year Current Ratio Range
Min: 2.36   Max: 2.85
Current: 2.57

2.36
2.85
Quick Ratio 1.33
MRC's Quick Ratio is ranked higher than
71% of the 477 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.50 vs. MRC: 1.33 )
MRC' s 10-Year Quick Ratio Range
Min: 1.11   Max: 1.35
Current: 1.33

1.11
1.35

Valuation & Return

vs
industry
vs
history
Price/Median PS Value 0.48
MRC's Price/Median PS Value is ranked higher than
86% of the 513 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.64 vs. MRC: 0.48 )
MRC' s 10-Year Price/Median PS Value Range
Min: 0.66   Max: 1.22
Current: 0.48

0.66
1.22
Earnings Yield (Greenblatt) 9.80
MRC's Earnings Yield (Greenblatt) is ranked higher than
84% of the 484 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 8.20 vs. MRC: 9.80 )
MRC' s 10-Year Earnings Yield (Greenblatt) Range
Min: 6.2   Max: 11.4
Current: 9.8

6.2
11.4

Business Description

Industry: Oil & Gas - Services » Oil & Gas Equipment & Services
Compare: » details
Traded in other countries:37M.Germany,
MRC Global Inc. was incorporated in the state of Delaware on November 20, 2006. The Company is the global industrial distributor of pipe, valves and fittings and related products and services to the energy industry based on sales and hold the position in industry across each of the upstream (exploration, production and extraction of underground oil and natural gas), midstream (gathering and transmission of oil and natural gas, natural gas utilities and the storage and distribution of oil and natural gas) and downstream (petrochemical processing, crude oil refining and general industrials) sectors. Globally, it has two operating segments through which it serves its customers in over 400 service locations. The Company's North American segment includes over 175 branch locations, six distribution centers in the U.S., one distribution center in Canada, 12 valve automation service centers and over 160 pipe yards located in the active oil and natural gas regions in North America. The other is International segment which includes over 30 branch locations throughout Europe, Asia and Australasia with distribution centers in each of the United Kingdom, Singapore and Australia and 10 automation service centers in Europe and Asia. It offers an array of PVF and oilfield supplies encompassing a complete line of products from its global network of suppliers to more than 12,000 active customers. The Company is subject to a variety of federal, state, local, foreign and provincial environmental, health and safety laws and regulations, including those governing the discharge of pollutants into the air, soil or water, the management, storage and disposal of, or exposure to, hazardous substances and wastes, the responsibility to investigate, remediate, monitor and clean up contamination and occupational health and safety.
» More Articles for MRC

Headlines

Articles On GuruFocus.com
Ruane Cunniff Has Most Active Quarter of the Year – So Far Dec 10 2014 
Morguard Corporation: Selling at a 30% Discount to Asset Value Mar 13 2014 
Insiders Are Buying MRC Global Aug 22 2013 
Columbia Wanger's Top Portfolio Increases Aug 09 2013 
Baron Funds Comments on MRC Global Feb 06 2013 


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