Steel Partners Holdings (SPLP) AI Stock Analysis

• Market Cap: $701.68M
• Dividend Yield: N/A
• Average Volume (3M): 1.80K
• Price to Earnings (P/E): 2.8
• Beta (1Y): -0.46
• Revenue Growth: 6.37%
• EPS Growth: 86.42%
• Country: US
• Employees: 5,200
• Sector: Industrials
• Sector Strength: 70
• Industry: Conglomerates
• EPS (TTM): 11.15
• Shares Outstanding: 19,150,620
• 10 Day Avg. Volume: 3,329
• 30 Day Avg. Volume: 1,802
• PEG Ratio: 0.03
• Price to Book (P/B): N/A
• Price to Sales (P/S): 0.39
• Price to Cash Flow (P/CF): 1.90
• P/FCF Ratio: 2.50
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

Steel Partners Holdings presents a moderate investment opportunity, with notable strengths in strategic growth and valuation. Financial performance shows potential for recovery, but historical challenges and a bearish technical outlook remain concerns. The recent acquisition and operational improvements are positive factors that could drive future growth.

Steel Partners Holdings Business Overview & Revenue Model

Company Description

Steel Partners Holdings L.P. (SPLP) is a diversified global holding company that engages in multiple sectors, including diversified industrial products, energy, defense, supply chain management, logistics, direct marketing, banking, and sports. The company operates through a range of subsidiaries, offering an array of products and services, from industrial products such as steel and specialty metals to financial services and energy solutions. SPLP leverages its operational expertise and strategic vision to enhance the performance and growth of its portfolio companies.

How the Company Makes Money

Steel Partners Holdings makes money through its diverse array of business segments. The company generates revenue primarily by manufacturing and selling industrial products, including steel and specialty metals, through its subsidiaries. It also earns income from its energy segment, which involves the production and sale of energy-related products and services. Additionally, SPLP benefits from its financial services arm, offering banking and other financial solutions, as well as its direct marketing and logistics services. The company’s strategic partnerships and investments in various industries also contribute to its revenue streams, allowing it to capture value across different market sectors.

Steel Partners Holdings Financial Statement Overview

Summary

Steel Partners Holdings has shown revenue growth and improved operating efficiency, which are positive indicators. However, historical volatility in net income and margins suggest underlying financial challenges. Improved leverage and cash flow management are promising, though past negative equity poses a risk, indicating a mixed but potentially recovering financial situation.

Income Statement

Steel Partners Holdings has shown consistent revenue growth over the years, with a notable increase from 2023 to 2024. However, the gross profit margin is at 100% in 2024 due to an error in gross profit equaling total revenue, which should be reconsidered. Net profit margins have been volatile, showing a significant drop in 2024. The EBIT margin improved significantly in 2024, indicating better operational efficiency. Overall, while there is revenue growth, the profitability ratios indicate instability.

Balance Sheet

The company's debt-to-equity ratio improved significantly in 2024, indicating better leverage management. Return on equity has been inconsistent, with a drastic drop in 2024. The equity ratio has improved, suggesting a stronger equity base relative to total assets. Despite improvements, prior negative equity indicates historical financial challenges.

Cash Flow

Free cash flow turned positive in 2024, showing strong growth from the previous negative figure. Operating cash flow has significantly increased, highlighting improved cash generation from operations. The ratios of operating and free cash flow to net income are favorable in 2024, indicating efficient cash utilization despite previous years of volatility.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
2.03B	1.91B	1.70B	1.52B	1.31B
	Gross Profit
875.49M	670.18M	581.60M	513.11M	439.04M
	EBIT
0.00	165.22M	178.84M	247.16M	65.64M
	EBITDA
379.91M	221.79M	232.59M	307.68M	130.98M
	Net Income Common Stockholders
11.38K	150.83M	205.97M	131.41M	72.67M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
404.44M	577.93M	234.45M	325.36M	135.89M
	Total Assets
3.58B	3.99B	3.24B	2.68B	3.93B
	Total Debt
172.72M	445.64M	257.52M	632.50M	2.45B
	Net Debt
-231.72M	-132.29M	23.07M	307.13M	2.31B
	Total Liabilities
2.41B	2.99B	2.43B	2.01B	3.40B
	Stockholders Equity
1.17B	958.63M	801.46M	-131.80M	-172.65M
Cash Flow		Free Cash Flow
298.32M	-30.23M	-257.77M	25.45M	300.86M
	Operating Cash Flow
363.28M	21.22M	-210.23M	77.77M	324.09M
	Investing Cash Flow
111.16M	-142.20M	-176.56M	1.52B	-1.90B
	Financing Cash Flow
-646.31M	464.56M	297.17M	-1.40B	1.57B

Steel Partners Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 31.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SPLP, the sentiment is Negative. The current price of 31 is below the 20-day moving average (MA) of 40.37, below the 50-day MA of 40.87, and below the 200-day MA of 40.07, indicating a bearish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 47.95 is Neutral, neither overbought nor oversold. The STOCH value of 35.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SPLP.

Steel Partners Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SEB	63 Neutral	$2.49B	28.35	1.88%	0.35%	-4.83%	-55.63%
Sector *	62 Neutral	$7.50B	12.89	3.19%	3.38%	3.64%	-14.27%
CODI	61 Neutral	$1.23B	―	-4.98%	6.10%	6.77%	9.95%
SPLP	59 Neutral	$701.68M	2.78	25.02%	―	6.37%	86.42%
MATW	47 Neutral	$641.67M	―	-13.19%	4.82%	-7.12%	-284.19%
FBYD	47 Neutral	$1.00B	5.16	635.79%	―	80.93%	―
FIP	45 Neutral	$437.54M	―	-32.63%	3.55%	3.44%	-52.51%

Steel Partners Holdings Corporate Events

Steel Partners Holdings Reflects on 2024 Success and Growth

On March 11, 2025, Steel Partners Holdings L.P. published an annual letter reflecting on its growth and strategic achievements. The company highlighted its successful acquisition of Steel Connect, now a wholly-owned subsidiary, and reported strong financial performance for 2024, with increased revenue and net income. The Steel Business System has been pivotal in enhancing operational efficiency, contributing to significant profitability improvements across its business units. Notably, Dunmore and HandyTube achieved record profitability, while Indiana Tube Corporation maintained good EBITDA margins despite market challenges. The company’s strategic focus and operational improvements have positioned it for continued growth in 2025.