CIMPRESS plc (NASDAQ: CMPR)

Sector: Industrials Industry: Specialty Business Services CIK: 0001262976
Market Cap 1.72 Bn
P/B -3.24
P/E 73.35
P/S 0.48
ROIC (Qtr) 16.77
Div Yield % 0.00
Rev 1y % (Qtr) 10.97
Total Debt (Qtr) 1.71 Bn
Debt/Equity (Qtr) -3.22
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About

Cimpress plc, a company with the ticker symbol CMPR, operates in the print industry, specializing in print mass customization. The company's main business activities involve delivering large volumes of individually small-sized customized orders of printed materials and related products. Cimpress operates in a print industry that is experiencing a shift towards mass customization, a business model that allows companies to deliver major improvements to customer value across a wide variety of customized product categories. Cimpress generates revenue...

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Investment thesis

Bull case

  • Healthy cash reserves of 258.04M provide 6.75x coverage of short-term debt 38.21M, demonstrating strong liquidity position and minimal refinancing risk.
  • Tangible assets of 1.11B provide exceptional 22.14x coverage of deferred revenue 49.97M, showing strong service capability backing.
  • Operating cash flow of 306.89M provides strong 6.14x coverage of deferred revenue 49.97M, indicating service delivery capability.
  • Operating cash flow of 306.89M fully covers other non-current liabilities 72.91M by 4.21x, showing strong long-term stability.
  • Operating cash flow of 306.89M provides strong 2.50x coverage of inventory 122.75M, indicating efficient inventory management.

Bear case

  • Operating cash flow of 306.89M barely covers its investment activities of (171.25M), with a coverage ratio of -1.79, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Investment activities of (171.25M) provide weak support for R&D spending of 343.26M, which is -0.50x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Cash reserves of 258.04M provide limited coverage of acquisition spending of (11.06M), which is -23.33x, suggesting aggressive expansion might strain liquidity if market conditions deteriorate.
  • Operating earnings of 218.28M show weak coverage of depreciation charges of 143.61M, with a 1.52 ratio indicating high capital intensity and potential reinvestment needs.
  • Free cash flow of 146.70M represents just -6.18x of debt issuance (23.75M), suggesting concerning reliance on leverage rather than internal cash generation for growth.

Segments Breakdown of Revenue (2025)

Product and Service Breakdown of Revenue (2025)

Peer comparison

Companies in the Specialty Business Services
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 CTAS Cintas Corp 120.08 Bn 556.91 33.85 3.24 Bn
2 RELX Relx Plc 56.19 Bn 20.01 4.34 9.82 Bn
3 TRI Thomson Reuters Corp /Can/ 37.42 Bn 24.91 5.00 2.44 Bn
4 CPRT Copart Inc 36.25 Bn 22.74 7.79 0.10 Bn
5 RBA Rb Global Inc. 19.20 Bn 49.09 4.24 4.21 Bn
6 ULS UL Solutions Inc. 14.12 Bn 43.32 4.92 0.74 Bn
7 GPN Global Payments Inc 11.52 Bn 284.78 8.66 16.20 Bn
8 ARMK Aramark 10.37 Bn 32.72 0.55 6.57 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 1.52 2.48
EV to Cash from Ops. EV/CFO 10.41 30.22
EV to Debt EV to Debt 1.87 31.08
EV to EBIT EV/EBIT 14.63 94.66
EV to EBITDA EV/EBITDA 8.26 18.37
EV to Free Cash Flow [EV/FCF] EV/FCF 21.77 -20.73
EV to Market Cap EV to Market Cap 1.86 178.66
EV to Revenue EV/Rev 0.90 8.12
Price to Book Value [P/B] P/B -3.24 5.37
Price to Earnings [P/E] P/E 73.35 65.19
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -15,800.59
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 10.14
Dividend per Basic Share Div per Share (Qtr) 0.00 0.35
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 7.65
Interest Coverage Int. cover (Qtr) 1.99 30.46
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -50.61 -178.22
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 14.98 155.14
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 5.38
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -85.56 -34.92
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 4.69 -86.28
EBIT Growth (1y) % EBIT 1y % (Qtr) -7.52 -22.62
EBT Growth (1y) % EBT 1y % (Qtr) -5.92 -287.35
EPS Growth (1y) % EPS 1y % (Qtr) -84.24 -118.47
FCF Growth (1y) % FCF 1y % (Qtr) -29.49 -146.43
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 3.93 2.63
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 1.70 0.84
Cash Payout Ratio Cash Payout (Qtr) 0.00 -0.03
Cash Ratio Cash Ratio (Qtr) 0.31 1.15
Current Ratio Curr Ratio (Qtr) 0.68 4.12
Debt to Equity Ratio Debt/Equity (Qtr) -3.22 0.92
Interest Cover Ratio Int Coverage (Qtr) 1.99 30.46
Times Interest Earned Times Interest Earned (Qtr) 1.99 30.46
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 10.20 -33.89
EBIT Margin % EBIT Margin % (Qtr) 6.12 -43.32
EBT Margin % EBT Margin % (Qtr) 3.05 -44.88
Gross Margin % Gross Margin % (Qtr) 47.00 39.81
Net Profit Margin % Net Margin % (Qtr) 0.70 -41.60