# Littelfuse Inc (LFUS) — Stock CV

Littelfuse Inc is a $10.8B technology company. Revenue grew 15.4% over the last year, it currently loses money, and its net debt equals ~0.3 years of free cash flow.

> Littelfuse is a supplier of circuit protection products (such as fuses and relays) for the transportation, industrial, telecommunications, and consumer electronics end markets. Littelfuse also holds a minority power semiconductor business, primarily serving high-voltage industrial applications.

## Identity

- **Ticker**: LFUS
- **Sector**: Technology
- **Industry**: Switchgear & Switchboard Apparatus
- **Headquarters**: ROSEMONT, IL
- **Employees**: 17 000
- **Website**: https://www.littelfuse.com
- **Market cap**: $10.8B
- **Last price**: $426.50
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $2.61B
- **Net income**: -$8.06M
- **Free cash flow**: $444M
- **Net debt**: $143M
- **P/E**: 15.7
- **Revenue growth (YoY)**: 15.4%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 32 |
| Growth | 6 |
| Profitability | 5 |
| Health | 48 |
| Quality | 65 |
| Moat | 49 |

## Qualifications (beginner checklist) — 8 of 11 passed

- [x] Revenue growing — +15.4% YoY
- [ ] Profitable — -$8.06M TTM
- [ ] Profit growing — -171.6% YoY
- [x] Generates cash — $444M TTM
- [x] Debt under control — ~0.3y of cash flow to repay
- [x] Established company — $10.8B market cap
- [x] Not printing shares — +0.9% shares over ~5y
- [x] Proven track record — 9/10 profitable years
- [ ] Financially stable — health score 28/100
- [x] Pays a dividend — yield 0.69%
- [x] Valuation not extreme — P/E 15.7

## Experience (career milestones)

- **FY2022** — Best year on record: $373M net income
- **FY2020** — Became debt-free: cash now exceeds total debt
- **FY2016** — First recorded profitable year: $104M net income
- **FY2016** — Revenue already above $1B: $1.06B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2013** — With the acquisition of Hamlin, Inc. in 2013, Littelfuse expanded its product offering to include sensors for the…
- **2008** — Littelfuse restructured its manufacturing operations, closing 16 small manufacturing plants and opening 6…
- **1991** — Tracor filed for bankruptcy in 1991 and spun off Littelfuse
- **1987** — Westmark Systems purchased Tracor and its Littelfuse subsidiary in a leveraged buyout
- **1976** — Littelfuse developed Autofuse, which was the first blade-type fuse used in automobiles
- **1974** — The company also introduced Littelites, electronic indicator lights used in industrial and office…
- **1968** — Tracor purchased the company in 1968
- **1962** — Littelfuse became a public company in 1962
- **1938** — Littelfuse was incorporated and renamed Littelfuse, Inc. in 1938

## Strengths

- Revenue growing 15.4% year over year
- Strong cash conversion — FCF is 17.0% of revenue

## Watch-outs

- Not profitable — 0.3% net margin
- Thin interest coverage (1.1×)
- Loss-making in 1 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $2.08B | $284M | $283M |
| FY2022 | $2.51B | $373M | $315M |
| FY2023 | $2.36B | $259M | $371M |
| FY2024 | $2.19B | $100M | $292M |
| FY2025 | $2.39B | -$71.7M | $366M |

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Source: https://stockcv.com/LFUS — derived from company filings; may be delayed or incomplete. Information, not investment advice.