| Company Name: | Balchem Corporation | | Ticker Symbol: | BCPC | | | WWW Address: | www.balchem.com | | CEO: | Dino A. Rossi | | No. of Employees: | 332 | | Common Issue Type: | CS | | Business Description: | The company is engaged in the development, manufacture and marketing of performance ingredients and products for the food, nutritional, feed, pharmaceutical and medical sterilization industries.
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| | | Industry Information: | FOOD & BEVERAGE - Meat Products [more like this] |
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| Price | Day Change | Bid | Ask | Open | High | Low | Volume | | 32.19 |  0.29 | 30.95 | 33.22 | 32.01 | 32.45 | 31.51 | 108314 |
| Market Cap (mil) | Shares Outstanding (mil) | Beta | EPS | DPS | P/E | Yield | 52-Wks-Range |
| 602.0 | 18.7 | 0.67 | 1.06 | 0.11 | 23.8 | 0.3 | 32.45 - 18.72 |
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| KEY FIGURES (Latest Twelve Months - LTM) | | Yesterday's Close | 32.19 | $ | | PE Ratio - LTM | 23.8 | |
| Market Capitalisation | 600.5 | mil |
| Latest Shares Outstanding | 18.7 | mil |
| Earnings pS (EPS) | 1.06 | $ |
| Dividend pS (DPS) | 0.11 | ¢ |
| Dividend Yield | 0.3 | % |
| Dividend Payout Ratio | 10 | % |
| Revenue per Employee | 698,946 | $ |
| Effective Tax Rate | 33.0 | % |
| Float | 18.3 | mil |
| Float as % of Shares Outstanding | 98.4 | % |
| Foreign Sales | 85 | mil |
| Domestic Sales | 147 | mil |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 10.70 | % |
| Research & Devlopment (R&D) as % of Revenue | 1.50 | % |
| Gross Profit Margin | 33.4 | % |
| EBITDA Margin | 21.2 | % |
| Pre-Tax Profit Margin | 17.3 | % |
| Assets Turnover | 1.3 | % |
| Return on Assets (ROA) | 13.9 | % |
| Return on Equity (ROE) | 17.4 | % |
| Return on Capital Invested (ROCI) | 17.4 | % |
| Current Ratio | 2.8 | |
| Leverage Ratio (Assets/Equity) | 1.3 | |
| Interest Cover | 119.5 | |
| Total Debt/Equity (Gearing Ratio) | 0.05 | |
| LT Debt/Total Capital | 0.0 | % |
| Working Capital pS | 2.84 | $ |
| Cash pS | 2.08 | $ |
| Book-Value pS | 7.61 | $ |
| Tangible Book-Value pS | 4.72 | $ |
| Cash Flow pS | 1.76 | $ |
| Free Cash Flow pS | 2.10 | $ |
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| KEY FIGURES (LTM): Price info |
| Price/Book Ratio | 4.23 | |
| Price/Tangible Book Ratio | 6.82 | |
| Price/Cash Flow | 18.3 | |
| Price/Free Cash Flow | 15.3 | |
| P/E as % of Industry Group | 102.0 | % |
| P/E as % of Sector Segment | 127.0 | % |
| | | Balance Sheet (at a glance) in Millions |
| | | | | | DIVIDEND INFO | | Dividend Declared Date | 12/11/2008 |
| Dividend Ex-Date | 12/17/2008 |
| Dividend Record Date | 12/21/2008 |
| Dividend Pay Date | 01/19/2009 |
| Dividend Amount | 110 |
| Type of Payment | Cash Payment |
| Dividend Rate | 0.11 |
| Current Dividend Yield | 0.3 |
| 5-Y Average Dividend Yield | 0.4 |
| Payout Ratio | 10.0 |
| 5-Y Average Payout Ratio | 7.0 |
|  | | Share price performance previous 3 years |
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 | | | Share price performance intraday |
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| PRICE/VOLUME | High | Low | Close | % Price Chg | % Price Chg vs. Mkt. | Avg. Daily Vol | Total Vol |
| 1 Week | - | - | - | 3.3 | 102 | 740 | 2,585 |
| 4 Weeks | 32.45 | 27.28 | 27.59 | 16.7 | 109 | 760 | 12,917 |
| 13 Weeks | 32.45 | 23.85 | 25.08 | 28.3 | 119 | 612 | 37,342 |
| 26 Weeks | 32.45 | 23.01 | 24.10 | 33.6 | 111 | 685 | 85,658 |
| 52 Weeks | 32.45 | 18.72 | 26.03 | 23.7 | 100 | 845 | 210,319 |
| YTD | 32.45 | 18.72 | - | 29.2 | 106 | 812 | 184,290 |
| Moving Average | 5-Days | 10-Days | 10-Weeks | 30-Weeks | 200-Days | Beta (60-Mnth) | Beta (36-Mnth) |
| 31.50 | 31.03 | 28.67 | 26.26 | 25.21 | 0.67 | 0.65 |
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| GROWTH RATES | 5-Year
Growh | R² of 5-Year Growth | 3-Year
Growth |
| Revenue | 30.28 | 92.1 | 29.59 |
| Income | 22.51 | 98.7 | 23.64 |
| Dividend | 39.97 | 93.6 | 41.22 |
| Capital Spending | 58.02 | NA | -18.10 |
| R&D | 11.15 | NA | 14.56 |
| Normalized Inc. | 0.00 | NA | 0.00 |
| | | CHANGES | YTD vs.
Last YTD | Curr Qtr vs.
Qtr 1-Yr ago | Annual vs.
Last Annual |
| Revenue % | -10.0 | -6.8 | 31.7 |
| Earnings % | 40.0 | 43.0 | 18.2 |
| EPS % | 37.3 | 44.0 | 21.8 |
| EPS $ | 0.28 | 0.11 | 0.19 |
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| SOLVENCY RATIOS | | SHORT-TERM SOLVENCY RATIOS (LIQUIDITY) |
| Net Working Capital Ratio | 19.14 |
| Current Ratio | 2.2 |
| Quick Ratio (Acid Test) | 1.3 |
| Liquidity Ratio (Cash) | 0.13 |
| Receivables Turnover | 7.7 |
| Average Collection Period | 47 |
| Working Capital/Equity | 25.8 |
| Working Capital pS | 1.62 |
| Cash-Flow pS | 1.47 |
| Free Cash-Flow pS | 0.84 |
| FINANCIAL STRUCTURE RATIOS |
| Altman's Z-Score Ratio | 11.56 |
| Financial Leverage Ratio (Assets/Equity) | 1.3 |
| Debt Ratio | 25.9 |
| Total Debt/Equity (Gearing Ratio) | 0.10 |
| LT Debt/Equity | 0.06 |
| LT Debt/Capital Invested | 11.8 |
| LT Debt/Total Liabilities | 16.7 |
| Interest Cover | 30.5 |
| Interest/Capital Invested | 0.75 |
| | | | VALUATION RATIOS | | MULTIPLES |
| PQ Ratio | 6.72 |
| Tobin's Q Ratio | 3.89 |
| Current P/E Ratio - LTM | 23.80 |
| Enterprise Value (EV)/EBITDA | 17.15 |
| Enterprise Value (EV)/Free Cash Flow | 53.96 |
| Dividend Yield | 0.3 |
| Price/Tangible Book Ratio - LTM | 6.82 |
| Price/Book Ratio - LTM | 4.23 |
| Price/Cash Flow Ratio | 18.3 |
| Price/Free Cash Flow Ratio - LTM | 15.3 |
| Price/Sales Ratio | 2.80 |
| P/E Ratio (1 month ago) - LTM | 20.9 |
| P/E Ratio (26 weeks ago) - LTM | 21.3 |
| P/E Ratio (52 weeks ago) - LTM | 26.8 |
| 5-Y High P/E Ratio | 29.5 |
| 5-Y Low P/E Ratio | 14.5 |
| 5-Y Average P/E Ratio | 23.8 |
| Current P/E Ratio as % of 5-Y Average P/E | 100 |
| P/E as % of Industry Group | 102.0 |
| P/E as % of Sector Segment | 127.0 |
| Current 12 Month Normalized P/E Ratio - LTM | 23.8 |
| PER SHARE FIGURES |
| LT Debt pS | 0.37 |
| Current Liabilities pS | 1.41 |
| Tangible Book Value pS - LTM | 4.72 |
| Book Value pS - LTM | 7.61 |
| Capital Invested pS | 6.50 |
| Cash pS - LTM | 2.08 |
| Cash Flow pS - LTM | 1.76 |
| Free Cash Flow pS - LTM | 2.10 |
| Earnings pS (EPS) | 1.06 |
| | | | OPERATING RATIOS | | PROFITABILITY RATIOS |
| Free Cash Flow Margin | 6.62 |
| Free Cash Flow Margin 5YEAR AVG | -1.12 |
| Net Profit Margin | 8.2 |
| Net Profit Margin - 5YEAR AVRG. | 10.1 |
| Equity Productivity | 2.03 |
| Return on Equity (ROE) | 16.6 |
| Return on Equity (ROE) - 5YEAR AVRG. | 16.9 |
| Capital Invested Productivity | 1.91 |
| Return on Capital Invested (ROCI) | 15.7 |
| Return on Capital Invested (ROCI) - 5YEAR AVRG. | 15.9 |
| Assets Productivity | 1.50 |
| Return on Assets (ROA) | 12.3 |
| Return on Assets (ROA) - 5YEAR AVRG. | 12.4 |
| Gross Profit Margin | 33.4 |
| Gross Profit Margin - 5YEAR AVRG. | 31.8 |
| EBITDA Margin - LTM | 21.2 |
| EBIT Margin - LTM | 17.5 |
| Pre-Tax Profit Margin | 12.3 |
| Pre-Tax Profit Margin - 5YEAR AVRG. | 15.5 |
| Effective Tax Rate | 33.0 |
| Effective Tax Rate - 5YEAR AVRG. | 35.4 |
| EFFICIENCY RATIOS |
| Cash Conversion Cycle | 81 |
| Revenue per Employee | 698,946 |
| Net Income per Employee | 57,380 |
| Average Collection Period | 47 |
| Receivables Turnover | 7.7 |
| Day's Inventory Turnover Ratio | 34 |
| Inventory Turnover | 10.6 |
| Inventory/Sales | 7.2 |
| Accounts Payble/Sales | 4.45 |
| Assets/Revenue | 0.67 |
| Net Working Capital Turnover | 7.85 |
| Fixed Assets Turnover | 2.34 |
| Total Assets Turnover | 1.5 |
| Revenue per $ Cash | 67.81 |
| Revenue per $ Plant | 5.46 |
| Revenue per $ Common Equity | 2.03 |
| Revenue per $ Capital Invested | 1.91 |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 8.8 |
| SG&A Expense as % of Revenue - 5YEAR AVRG. | 10.7 |
| Research & Devlopment (R&D) as % of Revenue | 1.2 |
| R&D Expense as % of Revenue - 5YEAR AVRG. | 1.2 |
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