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Colfax Corp CFX

Rating as of

Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Colfax Ends 2020 With Solid Momentum; Raising FVE

Analyst Note

| Krzysztof Smalec, CFA |

Narrow-moat-rated Colfax ended 2020 on a solid note, as its fourth-quarter adjusted EPS of $0.51 came in a penny above the FactSet consensus estimate. After rolling our model forward one year, we’ve increased our fair value estimate to $41 from $36, which reflects the firm's solid execution, our more optimistic near-term revenue growth projections, as well as time value of money.

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Company Profile

Business Description

Colfax is a diversified technology firm that produces welding equipment and medical devices. Following the sale of its air and gas handling business in 2019, Colfax’s remaining portfolio is organized into two segments: fabrication technology and medical technology. Fabrication technology is a leading manufacturer of equipment and consumables used in welding, cutting, and joining applications, mostly marketed under the ESAB brand name. The medical technology segment makes medical devices, including orthopedic braces, reconstructive implants, and other products used for rehabilitation, physical therapy, and pain management. The company generated roughly $3.1 billion in revenue in 2020.

Contact
420 National Business Parkway, 5th Floor
Annapolis Junction, MD, 20701
T +1 301 323-9000
Sector Industrials
Industry Specialty Industrial Machinery
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2020
Stock Type Cyclical
Employees 15,400