What is Methode Electronics's redeemable NCI?

Methode Electronics (MEI) reported redeemable NCI of $900K in Q2 2023.

What does redeemable NCI mean?

Minority interests in subsidiaries that include a put option allowing the minority holder to require the parent to repurchase their stake.

Methode Electronics MEI Redeemable NCI

Redeemable NCI at other companies

Hyster-Yale Materials Handling, Inc.HY

$16.5M+9.3%

Perella Weinberg PartnersPWP

$382.97M-21.0%

ADTRAN Holdings, Inc.ADTN

$369.02M-12.7%

MillerKnollMLKN

$62.8M-8.2%

ProFrac Holding Corp.ACDC

$1.25B—

InnovAge Holdings, Inc.INNV

$26.1M+18.1%

Other financials

Income statement

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Revenue$298.1M+15.9%

Gross profit$72.2M+268%

Operating income$10.9M+146%

Net income-+100%

EPS (diluted)$0.00+100%

Balance sheet

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Cash & equivalents$139.6M+34.7%

Total debt$348.6M+1.4%

Total equity$677.5M-2.3%

Total assets$1.3B0.0%

Cash flow

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Operating cash flow$4.9M-86.2%

CapEx$5.8M-36.3%

Free cash flow$10.1M—

Valuation

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Market cap$638.49M+99.2%

Enterprise value$847.49M+51.2%

P/S0.6×+0.3×

Profitability

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Gross margin19.8%+4.2pp

Operating margin0.9%+0.5pp

Net margin-3.5%-1.0pp

FCF margin4.3%-0.4pp

Returns & leverage

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Return on equity-5.3%-1.5pp

Debt / equity0.5×0.0×

Current ratio2.4×0.0×

Where this comes from

Reported directly by Methode Electronics in its filing.

Tagged under the XBRL concept us-gaap:RedeemableNoncontrollingInterestEquityCarryingAmount.

The official record: Methode Electronics’s 10-Q, filed September 7, 2023, on SEC EDGAR. View the filing →

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Questions, answered.

What is Methode Electronics's redeemable NCI?: Methode Electronics (MEI) reported redeemable NCI of $900K in Q2 2023.
What does redeemable NCI mean?: Minority interests in subsidiaries that include a put option allowing the minority holder to require the parent to repurchase their stake.