Alpha Pro Tech, Ltd. (APT) | Investment Case

1. Company Snapshot

1.a. Company Description

Alpha Pro Tech, Ltd., together with its subsidiaries, develops, manufactures, and markets a range of disposable protective apparel, infection control, and building supply products in the United States and internationally.The company operates through two segments, Disposable Protective Apparel and Building Supply.The Disposable Protective Apparel segment provides shoe covers, bouffant caps, coveralls, frocks, lab coats, and gowns, hoods, as well as face masks and shields.

The Building Supply segment offers construction weatherization products, such as housewrap and housewrap accessories, including window and door flashing, and seam tape, and synthetic roof underlayment, as well as other woven material.The company markets its products under the Alpha Pro Tech brand name, as well as under private labels.Its products are used primarily in cleanrooms; industrial safety manufacturing environments; health care facilities, such as hospitals, laboratories, and dental offices; building and re-roofing sites.

The company distributes its products through a network of purchasing groups, distributors, and independent sales representatives, as well as through its sales and marketing force.Alpha Pro Tech, Ltd.was founded in 1983 and is headquartered in Markham, Canada.

Show Full description

1.b. Last Insights on APT

Alpha Pro Tech, Ltd.'s recent performance was hindered by a decline in sales, particularly in the disposable protective apparel segment. The company's Q4 2024 revenue fell short of expectations, with a 12% year-over-year decrease. Furthermore, the company's gross margin contracted by 220 basis points, primarily due to increased raw material costs and supply chain disruptions. Additionally, Alpha Pro Tech's operating expenses rose by 15% year-over-year, exacerbating the decline in profitability.

1.c. Company Highlights

Last Price	4.55
Change Percentage	-1.19%
Open	4.56
Previous Close	4.61
Market Cap ( Millions)	47
Volume	4471
Year High	6.2
Year Low	4.06
M A 50	4.66
M A 200	4.73

FCF Yield	5.62%
Dividend Yield	0.00%
ROE	5.92%
Debt / Equity	12.96%
Net Debt / EBIDTA	-208.49%
Price To Book	0.77
Price Earnings Ratio	13.03
Price To FCF	17.81
Price To sales	0.8
EV / EBITDA	8.21

2. Transcript Summary

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3. NewsRoom

Here's Why Aptos Is Recovering Nicely Today, Up More Than 6%

Nov -18

Source: fool.com

Alpha Pro Tech Posts 2 Q2 Revenue Gain

Aug -08

Source: fool.com

Alpha Pro Tech, Ltd. Announces Second Quarter 2025 Financial Results

Aug -07

Source: globenewswire.com

ALPHA PRO TECH, LTD. ANNOUNCES $2 MILLION EXPANSION OF SHARE REPURCHASE PROGRAM

Jun -27

Source: globenewswire.com

Alpha Pro Tech, Ltd. Announces Fourth Quarter and Full Year 2024 Financial Results

Mar -12

Source: globenewswire.com

ALPHA PRO TECH, LTD. ANNOUNCES $2 MILLION EXPANSION OF SHARE REPURCHASE PROGRAM

Dec -23

Source: globenewswire.com

Alpha Pro Tech, Ltd. Announces Third Quarter 2024 Financial Results

Nov -06

Source: globenewswire.com

ALPHA PRO TECH, LTD. ANNOUNCES $1 MILLION EXPANSION OF SHARE REPURCHASE PROGRAM FOR IMMEDIATE RELEASE

Oct -02

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.70%)

6. Segments

Building Supply

Expected Growth: 4.8%

Growing demand for sustainable building materials, increasing DIY activities, and rising infrastructure development projects drive the growth of the building supply market.

Disposable Protective Apparel

Expected Growth: 4.5%

Growing demand for protective apparel in industries such as healthcare, manufacturing, and construction, driven by increasing awareness of workplace safety and stringent regulations, is expected to drive the market growth.

7. Detailed Products

Face Masks

Alpha Pro Tech's face masks are designed to provide superior protection against airborne pathogens and contaminants. Made with high-quality materials, these masks offer a comfortable and secure fit.

N95 Respirators

Our N95 respirators are designed to filter out at least 95% of airborne particles, providing reliable protection against airborne pathogens and contaminants.

Gloves

Alpha Pro Tech's gloves are designed to provide superior protection against chemicals, cuts, and abrasions. Made with high-quality materials, these gloves offer a comfortable and secure fit.

Coveralls

Our coveralls are designed to provide full-body protection against chemicals, biological agents, and other hazardous materials. Made with high-quality materials, these coveralls offer a comfortable and secure fit.

Eye Protection

Alpha Pro Tech's eye protection products are designed to provide superior protection against chemical splashes, flying debris, and other hazards. Made with high-quality materials, these products offer a comfortable and secure fit.

8. Alpha Pro Tech, Ltd.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Alpha Pro Tech, Ltd. faces moderate threat from substitutes due to the availability of alternative products in the market.

Bargaining Power Of Customers

Alpha Pro Tech, Ltd. has a high bargaining power of customers due to the presence of large and established customers who can negotiate prices and terms.

Bargaining Power Of Suppliers

Alpha Pro Tech, Ltd. has a low bargaining power of suppliers due to the presence of multiple suppliers and the company's ability to negotiate prices.

Threat Of New Entrants

Alpha Pro Tech, Ltd. faces a moderate threat of new entrants due to the presence of barriers to entry and the company's established brand reputation.

Intensity Of Rivalry

Alpha Pro Tech, Ltd. operates in a highly competitive industry with many established players, leading to a high intensity of rivalry.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	7.30%
Debt Cost	3.95%
Equity Weight	92.70%
Equity Cost	0.59%
WACC	0.83%
Leverage	7.87%

11. Quality Control: Alpha Pro Tech, Ltd. passed 4 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Perma-Pipe International Holdings

A-Score: 4.7/10

Value: 4.4

Growth: 6.8

Quality: 5.8

Yield: 0.0

Momentum: 10.0

Volatility: 1.3

1-Year Total Return ->

Alpha Pro Tech

A-Score: 4.4/10

Value: 6.2

Growth: 6.6

Quality: 5.7

Yield: 0.0

Momentum: 1.0

Volatility: 7.0

1-Year Total Return ->

Gibraltar Industries

A-Score: 4.2/10

Value: 3.6

Growth: 6.8

Quality: 5.1

Yield: 0.0

Momentum: 4.0

Volatility: 5.7

1-Year Total Return ->

Quanex Building Products

A-Score: 3.6/10

Value: 7.8

Growth: 5.1

Quality: 2.6

Yield: 3.0

Momentum: 0.0

Volatility: 3.3

1-Year Total Return ->

Latham

A-Score: 3.4/10

Value: 4.8

Growth: 4.7

Quality: 2.9

Yield: 0.0

Momentum: 6.0

Volatility: 2.3

1-Year Total Return ->

BlueLinx

A-Score: 3.4/10

Value: 6.0

Growth: 5.8

Quality: 3.2

Yield: 0.0

Momentum: 1.5

Volatility: 4.0

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-11.63%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

0.83%

Alpha Pro Tech, Ltd. - US0207721095

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on APT

1.c. Company Highlights

Fairly Valued

Average Quality

Average Yield

Medium Volatility

Average Growth

Stable Momentum

Weak Momentum

Cheaper

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.70%)

6. Segments

Building Supply

Expected Growth: 4.8%

Disposable Protective Apparel

Expected Growth: 4.5%

7. Detailed Products

Face Masks

N95 Respirators

Gloves

Coveralls

Eye Protection

8. Alpha Pro Tech, Ltd.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: Alpha Pro Tech, Ltd. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

4.56$

Current Price

4.55$

Potential

0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA