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15.04 (1y: +11%)
Market Cap 10.14 B P/E(ttm)
Enterprise Value 10.79 B P/B 1.60
SPLS- NAS (USA)
Staples, Inc.
  • Currently 1/5
Business Predictability Rank: 1-Star (On Watch)
Back Testing Results:
Average gain of all 1-Star stocks: 1.1% per year.
% of Stocks that are in still loss if held for 10yrs: 45%.
Read more:
What is Predictability Rank?
Performances of real portfolio
Top Ranked Predictable Companies
$15.04
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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 : 7/10

vs
industry		 vs
history
Cash to Debt 0.671
SPLS's Cash to Debt is ranked lower than
68% of the 678 Companies
in the Global Specialty Retail industry.

( Industry Median: 2.43 vs. SPLS: 0.671 )
SPLS' s 10-Year Cash to Debt Range
Min: 0.18   Max: 3.48
Current: 0.67
0.18
3.48
Equity to Asset 0.205
SPLS's Equity to Asset is ranked lower than
90% of the 637 Companies
in the Global Specialty Retail industry.

( Industry Median: 0.52 vs. SPLS: 0.205 )
SPLS' s 10-Year Equity to Asset Range
Min: 0.08   Max: 0.48
Current: 0.21
0.08
0.48
Interest Coverage 3.2
SPLS's Interest Coverage is ranked lower than
91% of the 545 Companies
in the Global Specialty Retail industry.

( Industry Median: 59.00 vs. SPLS: 3.2 )
SPLS' s 10-Year Interest Coverage Range
Min: 3   Max: No Debt
Current: 3.2
F-Score: 4
Z-Score: 3.92
M-Score: -3.22
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 : 4/10

vs
industry		 vs
history
Operating margin (%) 2.10
SPLS's Operating margin (%) is ranked lower than
86% of the 573 Companies
in the Global Specialty Retail industry.

( Industry Median: 5.90 vs. SPLS: 2.10 )
SPLS' s 10-Year Operating margin (%) Range
Min: 2.1   Max: 8.2
Current: 2.1
2.1
8.2
Net-margin (%) -0.9
SPLS's Net-margin (%) is ranked lower than
179856% of the 556 Companies
in the Global Specialty Retail industry.

( Industry Median: 4.30 vs. SPLS: -0.9 )
SPLS' s 10-Year Net-margin (%) Range
Min: -0.9   Max: 5.4
Current: -0.9
-0.9
5.4
ROE (%) -3.4
SPLS's ROE (%) is ranked lower than
180832% of the 553 Companies
in the Global Specialty Retail industry.

( Industry Median: 10.50 vs. SPLS: -3.4 )
SPLS' s 10-Year ROE (%) Range
Min: -3.4   Max: 19.4
Current: -3.4
-3.4
19.4
ROA (%) -1.7
SPLS's ROA (%) is ranked lower than
180180% of the 555 Companies
in the Global Specialty Retail industry.

( Industry Median: 5.50 vs. SPLS: -1.7 )
SPLS' s 10-Year ROA (%) Range
Min: -1.7   Max: 11.6
Current: -1.7
-1.7
11.6
ROC (Joel Greenblatt) (%) 15.00
SPLS's ROC (Joel Greenblatt) (%) is ranked lower than
69% of the 519 Companies
in the Global Specialty Retail industry.

( Industry Median: 24.10 vs. SPLS: 15.00 )
SPLS' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 15   Max: 70.8
Current: 15
15
70.8
Revenue Growth (%) 2
SPLS's Revenue Growth (%) is ranked lower than
87% of the 312 Companies
in the Global Specialty Retail industry.

( Industry Median: 8.00 vs. SPLS: 2 )
SPLS' s 10-Year Revenue Growth (%) Range
Min: 2   Max: 10.8
Current: 2
2
10.8
EBITDA Growth (%) -13.6
SPLS's EBITDA Growth (%) is ranked lower than
418410% of the 239 Companies
in the Global Specialty Retail industry.

( Industry Median: 13.60 vs. SPLS: -13.6 )
SPLS' s 10-Year EBITDA Growth (%) Range
Min: -13.6   Max: 14.4
Current: -13.6
-13.6
14.4
» SPLS's 10-Y Financials

Financials


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

» Details

Guru Trades
Q2 2012

SPLS Guru Trades in Q2 2012

Jeremy Grantham 36,500 sh (New)
Paul Tudor Jones 46,400 sh (New)
Charles Brandes 228,097 sh (New)
Diamond Hill Capital 286,856 sh (+2395.92%)
Ray Dalio 1,710,035 sh (+177.68%)
Joel Greenblatt 241,204 sh (+98.31%)
Chuck Royce 218,545 sh (+34.65%)
Richard Pzena 30,320,109 sh (+7.77%)
Brian Rogers 10,750,000 sh (+4.88%)
Manning & Napier Advisors, Inc 880,755 sh (+2.93%)
Donald Yacktman 2,273,000 sh (+1.7%)
Jim Simons 382,979 sh (+0.08%)
John Hussman 1,504,000 sh (unchged)
Charles de Vaulx 9,754,070 sh (unchged)
Robert Olstein 590,000 sh (unchged)
Meridian Funds 33,300 sh (unchged)
Arnold Van Den Berg 2,327,274 sh (-0.85%)
Pioneer Investments 19,882 sh (-0.9%)
John Buckingham 317,256 sh (-1.48%)
Tom Russo 212,800 sh (-2.3%)
David Dreman 1,438,015 sh (-13.88%)
Mark Hillman 16,158 sh (-54.43%)
Steven Cohen 16,092 sh (-73.45%)
» More
Q3 2012

SPLS Guru Trades in Q3 2012

HOTCHKIS & WILEY 897,200 sh (New)
Steven Cohen 56,257 sh (+249.6%)
Charles Brandes 487,069 sh (+113.54%)
Richard Pzena 42,145,899 sh (+39%)
Joel Greenblatt 319,642 sh (+32.52%)
Chuck Royce 266,200 sh (+21.81%)
Brian Rogers 12,750,000 sh (+18.6%)
Ray Dalio 1,929,192 sh (+12.82%)
John Buckingham 346,048 sh (+9.08%)
Robert Olstein 635,000 sh (+7.63%)
Diamond Hill Capital 301,306 sh (+5.04%)
Mark Hillman 16,299 sh (+0.87%)
Arnold Van Den Berg 2,330,979 sh (+0.16%)
Manning & Napier Advisors, Inc 881,590 sh (+0.09%)
Donald Yacktman 2,274,000 sh (+0.04%)
John Hussman 1,504,000 sh (unchged)
Yacktman Fund 2,000,000 sh (unchged)
Meridian Funds Sold Out
Jim Simons Sold Out
David Dreman 1,369,100 sh (-4.79%)
Pioneer Investments 18,062 sh (-9.15%)
Charles de Vaulx 8,724,204 sh (-10.56%)
Paul Tudor Jones 33,900 sh (-26.94%)
Jeremy Grantham 23,900 sh (-34.52%)
Tom Russo 2,500 sh (-98.83%)
» More
Q4 2012

SPLS Guru Trades in Q4 2012

Yacktman Focused Fund 2,000,000 sh (New)
Whitney Tilson 14,109 sh (New)
Paul Tudor Jones 74,600 sh (+120.06%)
Diamond Hill Capital 513,422 sh (+70.4%)
Steven Cohen 93,391 sh (+66.01%)
HOTCHKIS & WILEY 1,409,600 sh (+57.11%)
Joel Greenblatt 407,692 sh (+27.55%)
Chuck Royce 323,400 sh (+21.49%)
Charles Brandes 549,439 sh (+12.81%)
Ray Dalio 2,052,120 sh (+6.37%)
John Hussman 1,508,000 sh (+0.27%)
Donald Yacktman 2,280,000 sh (+0.26%)
Tom Russo 2,500 sh (unchged)
Robert Olstein 635,000 sh (unchged)
Brian Rogers 12,750,000 sh (unchged)
Yacktman Fund 2,000,000 sh (unchged)
Jeremy Grantham 129,693 sh (unchged)
Mark Hillman 16,290 sh (-0.06%)
John Buckingham 337,077 sh (-2.59%)
Charles de Vaulx 8,387,190 sh (-3.86%)
Richard Pzena 39,176,664 sh (-7.05%)
Pioneer Investments 16,373 sh (-9.35%)
David Dreman 503,822 sh (-63.2%)
Arnold Van Den Berg 470,729 sh (-79.81%)
Manning & Napier Advisors, Inc 57,510 sh (-93.48%)
» More
Q1 2013

SPLS Guru Trades in Q1 2013

Jeremy Grantham 624,993 sh (+381.9%)
HOTCHKIS & WILEY 2,540,300 sh (+80.21%)
Diamond Hill Capital 673,957 sh (+31.27%)
Chuck Royce 421,300 sh (+30.27%)
Manning & Napier Advisors, Inc 60,434 sh (+5.08%)
Charles Brandes 567,459 sh (+3.28%)
Brian Rogers 13,000,000 sh (+1.96%)
John Buckingham 340,273 sh (+0.95%)
Donald Yacktman 2,285,000 sh (+0.22%)
Yacktman Fund 2,000,000 sh (unchged)
Mark Hillman Sold Out
Whitney Tilson Sold Out
Steven Cohen Sold Out
Tom Russo Sold Out
Yacktman Focused Fund Sold Out
Richard Pzena 38,948,335 sh (-0.58%)
Arnold Van Den Berg 451,069 sh (-4.18%)
Robert Olstein 586,000 sh (-7.72%)
Pioneer Investments 14,713 sh (-10.14%)
David Dreman 449,628 sh (-10.76%)
Joel Greenblatt 326,553 sh (-19.9%)
Paul Tudor Jones 15,700 sh (-78.95%)
Ray Dalio 155,896 sh (-92.4%)
John Hussman 9,500 sh (-99.37%)
» More
» Details

Insider Trades

Latest Guru Trades with SPLS

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
John Hussman 2013-03-31 Reduce -99.37%0.45%$11.4 - $14.65 $ 15.0416%9500
Yacktman Focused Fund 2013-03-31 Sold Out 0.36%$11.4 - $14.65 $ 15.0416%0
Ray Dalio 2013-03-31 Reduce -92.4%0.22%$11.4 - $14.65 $ 15.0416%155896
Arnold Van Den Berg 2012-12-31 Reduce -79.81%2.39%$11.09 - $12.21 $ 15.0430%470729
Yacktman Focused Fund 2012-12-31 New Buy0.36%$11.09 - $12.21 $ 15.0430%2000000
David Dreman 2012-12-31 Reduce -63.2%0.25%$11.09 - $12.21 $ 15.0430%503822
Joel Greenblatt 2012-12-31 Add 27.55%0.06%$11.09 - $12.21 $ 15.0430%407692
Joel Greenblatt 2012-12-31 Add 27.55%0.06%$11.09 - $12.21 $ 15.0430%407692
Joel Greenblatt 2012-09-30 Add 32.52%0.06%$10.8 - $13.46 $ 15.0422%319642
Charles Brandes 2012-09-30 Add 113.54%0.04%$10.8 - $13.46 $ 15.0422%487069
Meridian Funds 2012-09-30 Sold Out 0.02%$10.8 - $13.46 $ 15.0422%0
Ray Dalio 2012-06-30 Add 177.68%0.21%$12.34 - $16.54 $ 15.046%1710035
Joel Greenblatt 2012-06-30 Add 98.31%0.11%$12.34 - $16.54 $ 15.046%241204
Charles Brandes 2012-06-30 New Buy0.03%$12.34 - $16.54 $ 15.046%228097
Premium More recent guru trades are included for Premium Members only!!

Guru Investment Theses on Staples, Inc.

Diamond Hill Comments on Staples Inc. - Oct 23, 2012

Office products retailer Staples, Inc. (SPLS) reported disappointing second quarter results. Subsequently, analysts lowered Staples' future revenue and earnings estimates based on the belief that Staples' problems are ongoing, a view which we do not share. We believe Staples' stock offers a compelling return given the company's plan to reduce operating expenses and restructure its business lines.

From Diamond Hill Capital's Third Quarter Small-Mid Cap Fund Commentary.


Check out Diamond Hill Capital latest stock trades

Top Ranked Articles about Staples, Inc.

Staples Q4 2012
March 8, 2013
- Staples Q4 2012
Staples (SPLS) reported fourth quarter and full-year 2012 results on Wednesday; for the full year, the company reported sales of $24.4 billion, down 1% from fiscal 2011 and down 3% after accounting for a 53rd week in the current fiscal year. The 10-K provides a nice breakdown by product category to show the annual change: Read more...
Arnold Van Den Berg Trims Staples, Sells Out of Dell and Others - Q4 Updates
January 9, 2013
Arnold Van Den Berg - Arnold Van Den Berg Trims Staples, Sells Out Of Dell And Others - Q4 Updates
The fourth quarter portfolio updates of Century Management’s Arnold Van Den Berg are in. Van Den Berg’s portfolio successfully gained 16 percent in 2012. Totaling 17 transactions, the fourth quarter updates consist of 7 stake increases, 5 new buys, 2 stake reductions and 3 complete sells of his entire stake in companies. Read more...
Diamond Hill Comments on Staples Inc.
October 23, 2012
Office products retailer Staples, Inc. (SPLS) reported disappointing second quarter results. Subsequently, analysts lowered Staples' future revenue and earnings estimates based on the belief that Staples' problems are ongoing, a view which we do not share. We believe Staples' stock offers a compelling return given the company's plan to reduce operating expenses and restructure its business lines. Read more...
The State of U.S. Ecommerce
August 25, 2012
- The State Of U.S. Ecommerce
Comscore recently hosted an event entitled “The State of the U.S. Online Retail Economy in Q2 2012”, with data based upon a global panel of 2 million online users (1M in the United States and 1M scattered around the globe). As I’ve promised some readers, I will soon add my two cents on why I believe Best Buy (BBY) is in a situation that is materially different than that of office supply chain leader Staples (SPLS); this article will highlight some of those differences in terms of consumer behavior (which is tough to pull out in a lot of instances due to the lack of transparency into sales by category at Amazon). Read more...
How The Times Change...
August 24, 2012
- How The Times Change...
Here’s a quick exercise that I find quite interesting: Read more...
Value Contest Submission: SPLS
August 10, 2012
- Value Contest Submission: SPLS
Six months ago to the day, fellow GuruFocus writer David Chulak laid out the bull case for Staples (SPLS). While the stock performance has been less than stellar (closed today at $13.31), the fundamentals remain strong – and with the window again open for a value contest submission on SPLS, I would like to throw my hat into the ring. Read more...
Can You Call Yourself a Value Investor?
July 14, 2012
- Can You Call Yourself A Value Investor?
After the financial crisis, the Financial Crisis Inquiry Commission (FCIC) was created to determine the root cause of the crisis; as part of that effort, the commission was required to make the ensuing interviews of hedge fund managers, bankers, and economists available to the public. One of the people interviewed was Warren Buffett, and as expected, he didn’t disappoint. During the interview, he was asked to discuss the difference between investment and speculation; here was his response (bold added for emphasis): Read more...
The Next Borders?
June 14, 2012
Bill Ackman, who is well known for a multitude of successful investments throughout his career, has also made some high profile mistakes; one particularly relevant example was an investment in Borders Group. Ackman started buying the retailer in the third quarter of 2006, eventually acquiring a stake worth $200 million; in February 2010, Mr. Ackman had this to say in a CNBC interview: “I think the company has stabilized. The stock trades as if it’s going bankrupt but we don’t see it as a likely bankruptcy”, and even called it a “low probability event”. Read more...

Ratios

vs
industry		 vs
history
P/B 1.60
SPLS's P/B is ranked lower than
54% of the 669 Companies
in the Global Specialty Retail industry.

( Industry Median: 1.45 vs. SPLS: 1.60 )
SPLS' s 10-Year P/B Range
Min: 1.09   Max: 6.9
Current: 1.6
1.09
6.9
P/S 0.40
SPLS's P/S is ranked higher than
65% of the 679 Companies
in the Global Specialty Retail industry.

( Industry Median: 0.60 vs. SPLS: 0.40 )
SPLS' s 10-Year P/S Range
Min: 0.3   Max: 1.45
Current: 0.4
0.3
1.45
PFCF 11.50
SPLS's PFCF is ranked higher than
69% of the 493 Companies
in the Global Specialty Retail industry.

( Industry Median: 17.70 vs. SPLS: 11.50 )
SPLS' s 10-Year PFCF Range
Min: 6.38   Max: 74.71
Current: 11.5
6.38
74.71
EV-to-EBIT 20.8
SPLS's EV-to-EBIT is ranked lower than
77% of the 596 Companies
in the Global Specialty Retail industry.

( Industry Median: 12.50 vs. SPLS: 20.8 )
SPLS' s 10-Year EV-to-EBIT Range
Min: 5.5   Max: 24.4
Current: 20.8
5.5
24.4
Shiller P/E 14.3
SPLS's Shiller P/E is ranked lower than
100% of the Companies
in the Global Specialty Retail industry.

( Industry Median: vs. SPLS: 14.3 )
SPLS' s 10-Year Shiller P/E Range
Min: 8.22   Max: 44.2
Current: 14.3
8.22
44.2

Dividend & Buy Back

vs
industry		 vs
history
Dividend Yield 3.00
SPLS's Dividend Yield is ranked higher than
69% of the 454 Companies
in the Global Specialty Retail industry.

( Industry Median: 1.99 vs. SPLS: 3.00 )
SPLS' s 10-Year Dividend Yield Range
Min: 0.38   Max: 3.87
Current: 3
0.38
3.87
Dividend growth (3y) 7.5
SPLS's Dividend growth (3y) is ranked lower than
79% of the 123 Companies
in the Global Specialty Retail industry.

( Industry Median: 15.00 vs. SPLS: 7.5 )
SPLS' s 10-Year Dividend growth (3y) Range
Min: 0   Max: 21.5
Current: 7.5
0
21.5
Yield on cost (5-Year) 4.41
SPLS's Yield on cost (5-Year) is ranked higher than
79% of the 458 Companies
in the Global Specialty Retail industry.

( Industry Median: 2.13 vs. SPLS: 4.41 )
SPLS' s 10-Year Yield on cost (5-Year) Range
Min: 0.56   Max: 5.69
Current: 4.41
0.56
5.69
Share Buyback Rate 1.9
SPLS's Share Buyback Rate is ranked higher than
53% of the 109 Companies
in the Global Specialty Retail industry.

( Industry Median: 1.70 vs. SPLS: 1.9 )
SPLS' s 10-Year Share Buyback Rate Range
Min: 1.9   Max: -2
Current: 1.9

Valuation & Return

vs
industry		 vs
history
Price/Net Current Asset Value 4
SPLS's Price/Net Current Asset Value is ranked higher than
62% of the 630 Companies
in the Global Specialty Retail industry.

( Industry Median: 6.70 vs. SPLS: 4 )
SPLS' s 10-Year Price/Net Current Asset Value Range
Min: 3.6   Max: 14.3
Current: 4
3.6
14.3
Price/Tangible Book 4
SPLS's Price/Tangible Book is ranked lower than
77% of the 633 Companies
in the Global Specialty Retail industry.

( Industry Median: 1.70 vs. SPLS: 4 )
SPLS' s 10-Year Price/Tangible Book Range
Min: 3.6   Max: 10.5
Current: 4
3.6
10.5
Price/DCF (Projected) 0.6
SPLS's Price/DCF (Projected) is ranked higher than
80% of the 288 Companies
in the Global Specialty Retail industry.

( Industry Median: 1.20 vs. SPLS: 0.6 )
SPLS' s 10-Year Price/DCF (Projected) Range
Min: 0.6   Max: 1.9
Current: 0.6
0.6
1.9
Price/Median PS Value 0.5
SPLS's Price/Median PS Value is ranked higher than
92% of the 667 Companies
in the Global Specialty Retail industry.

( Industry Median: 1.10 vs. SPLS: 0.5 )
SPLS' s 10-Year Price/Median PS Value Range
Min: 0.5   Max: 1.6
Current: 0.5
0.5
1.6
Earnings Yield (Greenblatt) 4.80
SPLS's Earnings Yield (Greenblatt) is ranked lower than
76% of the 602 Companies
in the Global Specialty Retail industry.

( Industry Median: 8.00 vs. SPLS: 4.80 )
SPLS' s 10-Year Earnings Yield (Greenblatt) Range
Min: 4.1   Max: 18.3
Current: 4.8
4.1
18.3
Forward Rate of Return (Yacktman) 5.16
SPLS's Forward Rate of Return (Yacktman) is ranked lower than
78% of the 267 Companies
in the Global Specialty Retail industry.

( Industry Median: 15.14 vs. SPLS: 5.16 )
SPLS' s 10-Year Forward Rate of Return (Yacktman) Range
Min: 6.9   Max: 23.1
Current: 5.16
6.9
23.1

Business Description

Staples, Inc is a Delaware corporation incorporated in 1985. It operates as an office products company. Its three reportable segments are North American Delivery, North American Retail and International Operations. The North American Delivery segment consists of the U.S. and Canadian businesses that sell and deliver office products and services directly to customers and businesses and includes Staples Advantage, Staples.com and Quill.com. The North American Retail segment consists of the U.S. and Canadian businesses that operate stores that sell office products and services. The International Operations segment consists of business units that operate stores and that sells and delivers office products and services directly to customers in 24 countries in Europe, Australia, South America and Asia. The Company sells a variety of office supplies and services, office machines and related products, computers and related products and office furniture. The Company compete with high-volume office supply providers, including Office Depot, OfficeMax and Lyreco; as well as mass merchants such as Walmart, Target and Tesco; warehouse clubs such as Costco; computer and electronics retail stores such as Best Buy; specialty technology stores such as Apple; copy and print businesses such as FedEx Office; online retailers such as Amazon.com; and other discount retailers. The Company's business is subject to federal, state, local and international laws, rules and regulations.
Company Website
SEC Reports
Industry: Specialty Retail
Compare:TSCO, AMZN, EBAY, FIVE, AZO
Traded in other countries:STP.Germany
» More Articles for SPLS

Headlines

Articles On GuruFocus.com
Busy Selling - Yacktman Focused Fund First Quarter Apr 12 2013 
Make Money by Adopting a Dog Apr 03 2013 
This Company Has Paid a Dividend for 118 Years and Increased It the Last 50 Years Mar 11 2013 
Staples Q4 2012 Mar 08 2013 
Markets Get a Lift from ADP Numbers and J.C. Penney's Stock Makes New Lows Mar 06 2013 
Early Movers for Wednesday Feb. 20, 2013 Feb 20 2013 
Early Movers for Tuesday Feb. 19, 2013 Feb 19 2013 
Staples - Significant Savings Ahead Jan 17 2013 
Arnold Van Den Berg Trims Staples, Sells Out of Dell and Others - Q4 Updates Jan 09 2013 
Three Retail Bargains That Aren’t Really Damaged Goods Jan 02 2013 

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