
Steel Partners Holdings L.P. (SPLP)
ValueMarkers Composite Index
49% below intrinsic value ($98)
Steel Partners Holdings L.P. (SPLP) — VMCI valuation read
The headline on Steel Partners Holdings L.P. (SPLP) is a 71/100 VMCI score, set against a Industrials sector median of 50. That 21-point above-median read reflects the five-pillar weighting and, for a mid-cap name, suggests a relative-value tailwind is in the data.
SPLP insider activity report: 0 buys, 0 sells filed via Form 4 over the past 30 days. The next datable items are the 10-Q schedule and any 8-K-triggering events; both feed the VMCI Integrity pillar more than the price tape.
**Investor frame.** SPLP trades at 15.0x earnings, 17% below the Industrials median of 18.0x sets the value side. ROIC of 11.0% sits 1.0pp above the Industrials median (10.0%) sets the quality side. Net debt to EBITDA of 1.2x leaves covenant headroom sets the risk side, the three lines a value buyer reads first on SPLP.
SPLP rose 1.0% over the trailing 7 days, with a -20.9% read on a 30-day basis.
Steel Partners Holdings L.P., through its subsidiaries, engages in industrial products, energy, defense, supply chain management, logistics, banking, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, and Financial Services segments. The company fabricates precious metals and alloys into brazing alloys; manufactures and sells seamless stainless steel tubing coils; fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and woven substrates of fiberglass, quartz, carbon, and aramid materials for specialty applications. It also designs, manufactures, and markets power electronics and protection, motion control, power quality electromagnetic equipment, custom ball-screws, and gears and gearboxes used in medical, commercial and military aerospace, computer, datacom, industrial, specialty LED lighting, test and measurement, and telecom applications. In addition, the company provides meat-room blade products, repair services, and distributed products for the meat and deli departments of supermarkets, restaurants, and meat and fish processing plants, as well as for electrical saws and cutting equipment distributors; cutting blades for bakeries; and wood cutting blade products for the pallet manufacturing, pallet recycler, and portable saw mill industries. Further, it manufactures and distributes coated, laminated and metallized films for imaging, aerospace, insulation and solar photo-voltaic markets; originates and funds consumer and small business loans; issues credit cards; takes deposits; participates in syndicated commercial and industrial, and asset based credit facilities and securitizations; and offers drilling and production services to the oil and gas industry. Steel Partners Holdings GP Inc. serves as the general partner of the company. The company was founded in 1990 and is based in New York, New York.
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