A Business at a Glance
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ITEM 1. BUSINESS Sparta Commercial Services, Inc. (“Sparta,” “we,” “us,” or the “Company”) is a Nevada corporation with headquarters in New York, New York, and a corporate website at www.spartacommercial.com, with subsidiary addresses in Stamford, CT. We operate as a multi-disciplined parent corporation across four primary business sectors: FinTech Services, Financial Services, E-Commerce & Mobile Technology, and Health and Wellness. Our operations are conducted through wholly owned subsidiaries and joint ventures that provide specialized financing products, technology-driven solutions, and consumer wellness offerings. Sparta’s origins are in the Powersports consumer finance industry, historically providing retail installment loans and leases through authorized motorcycle dealerships in 33 states, supported by financing lines of credit from institutional lenders.
| Metric | TTM | FY2019 | FY2018 | FY2017 | FY2012 | FY2011 |
|---|---|---|---|---|---|---|
| Revenue | 342K | - | - | - | - | - |
| Net Income | 26K | -1.7M | -2.8M | -2.6M | -2.2M | -3.7M |
| EPS | $-0.04 | $-0.30 | $-0.50 | $-0.50 | $-27.00 | $-63.00 |
| Free Cash Flow | 0 | -759K | -658K | -647K | -1.4M | -2.0M |
| ROIC | -101.5% | -1989.5% | -2616.9% | -774.0% | -150.2% | -126.1% |
| Gross Margin | 90.6% | - | - | - | - | - |
| Debt/Equity | 0.00 | -0.03 | -0.03 | -0.04 | -0.15 | -0.33 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -1.1M | -847K | -842K | -985K | -1.7M | -2.4M |
| Operating Margin | -323.2% | - | - | - | - | - |
| ROE | 0.0% | - | - | - | - | - |
| Shares Outstanding | 46M | 6M | 6M | 5M | 0M | 0M |
| Metric | 2011 | 2012 | 2017 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | N/A | N/A | N/A | N/A | N/A | 342K |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | 90.6% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | -2.4M | -1.7M | -985K | -842K | -847K | -1.1M |
| Op. Margin | N/A | N/A | N/A | N/A | N/A | -323.2% |
| Net Income | -3.7M | -2.2M | -2.6M | -2.8M | -1.7M | 26K |
| Net Margin | N/A | N/A | N/A | N/A | N/A | 7.5% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||
| ROIC | -126.1% | -150.2% | N/M | N/M | N/M | -101.5% |
| ROE | N/A | N/A | N/A | N/A | N/A | 0.0% |
| ROA | -250.7% | -180.9% | -2615.1% | -11166.8% | -5719.0% | 3.0% |
| Cash Flow | ||||||
| Op. Cash Flow | -2.0M | -1.4M | -647K | -658K | -759K | -770K |
| Free Cash Flow | -2.0M | -1.4M | -647K | -658K | -759K | 0 |
| Owner Earnings | -2.5M | -1.9M | -651K | -660K | -761K | -772K |
| CapEx | 0 | 8K | 0 | 0 | 0 | 0 |
| Maint. CapEx | 92K | 74K | 2K | 2K | 2K | 2K |
| Growth CapEx | N/A | 0 | N/A | N/A | N/A | 0 |
| D&A | 92K | 74K | 2K | 2K | 2K | 2K |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 404K | 445K | 2K | N/A | N/A | N/A |
| Debt Repayment | 878K | 601K | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||||
| Net Debt | 964K | 497K | 416K | 429K | 432K | -32K |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A | 34K |
| Long-Term Debt | 974K | 516K | 419K | 430K | 432K | 432K |
| Debt/Equity | -0.33 | -0.15 | -0.04 | -0.03 | -0.03 | 0.00 |
| Interest Coverage | -6.0 | -3.5 | -1.8 | -2.8 | -12.7 | -12.7 |
| Equity | -2.9M | -3.4M | -11M | -13M | -13M | -12M |
| Total Assets | 1.5M | 890K | 100K | 25K | 34K | 861K |
| Total Liabilities | 4.4M | 4.3M | 11M | 13M | 13M | 12M |
| Intangibles | 10K | 10K | N/A | N/A | N/A | N/A |
| Retained Earnings | -35M | -37M | -57M | -60M | -62M | -62M |
| Working Capital | N/A | N/A | -9.8M | -12M | -12M | -12M |
| Current Assets | N/A | N/A | 7K | 5K | 15K | 15K |
| Current Liabilities | 1.1M | 1.3M | 9.8M | 12M | 12M | 12M |
| Per Share Data | ||||||
| EPS | -63.00 | -27.00 | -0.50 | -0.50 | -0.30 | -0.04 |
| Owner EPS | -42.50 | -23.82 | -0.12 | -0.12 | -0.14 | -0.02 |
| Book Value | -49.77 | -43.28 | -2.10 | -2.27 | -2.30 | -0.26 |
| Cash Flow/Share | -34.12 | -17.30 | -0.12 | -0.12 | -0.13 | 0.00 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 0.1M | 0.1M | 5.3M | 5.7M | 5.6M | 45.7M |
| Valuation | ||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | -2.1 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | 11.1 |
| FCF Yield | -30.3% | -15.1% | -64.8% | -24.1% | -34.6% | N/A |
| Market Cap | 6.7M | 9.2M | 999K | 2.7M | 2.2M | 3.8M |
| Avg. Price | 158.12 | 75.40 | 0.19 | 0.47 | 0.49 | 0.08 |
| Year-End Price | 112.50 | 115.50 | 0.19 | 0.48 | 0.39 | 0.08 |
SPARTA COMMERCIAL SERVICES, INC. passes 0 of 9 quality checks, indicating weak fundamentals.
SPARTA COMMERCIAL SERVICES, INC. (SRCO) has a 5-year average return on invested capital (ROIC) of -138.1%. This is below average and may indicate limited pricing power.
SPARTA COMMERCIAL SERVICES, INC. (SRCO) has a market capitalization of $4M. It is classified as a small-cap stock.
SPARTA COMMERCIAL SERVICES, INC. (SRCO) does not currently pay a regular dividend.
SPARTA COMMERCIAL SERVICES, INC. (SRCO) operates in the Services-Business Services, Nec industry, within the Industrials sector.
SPARTA COMMERCIAL SERVICES, INC. (SRCO) generated $-759 thousand in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
SPARTA COMMERCIAL SERVICES, INC. (SRCO) reported earnings per share (EPS) of $-0.30 in its most recent fiscal year.
The Ledger Terminal provides 5 years of financial data for SPARTA COMMERCIAL SERVICES, INC. (SRCO), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
SPARTA COMMERCIAL SERVICES, INC. (SRCO) has a book value per share of $-2.30, based on its most recent annual SEC filing.
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