Emcore Corporation

NasdaqCM:EMKR Lagerbericht

Marktkapitalisierung: US$28.1m

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Emcore Vergangene Ertragsentwicklung

Vergangenheit Kriterienprüfungen 0/6

Die Gewinne von Emcore sind mit einer durchschnittlichen Jahresrate von -28.9% zurückgegangen, während die Gewinne der Branche Communications um 0.3% pro Jahr zurückgingen. Die Umsätze sind zurückgegangen mit einer durchschnittlichen Jahresrate von 10.1%.

Wichtige Informationen

-28.89%

Wachstumsrate der Gewinne

-11.08%

EPS-Wachstumsrate

Communications Wachstum der Industrie31.77%
Wachstumsrate der Einnahmen-10.09%
Eigenkapitalrendite-61.89%
Netto-Marge-34.47%
Letzte Ertragsaktualisierung31 Dec 2024

Jüngste Aktualisierungen vergangener Leistungen

Recent updates

Analyseartikel • May 12

Bearish: Analysts Just Cut Their EMCORE Corporation (NASDAQ:EMKR) Revenue and EPS estimates

The latest analyst coverage could presage a bad day for EMCORE Corporation ( NASDAQ:EMKR ), with the analysts making...
Seeking Alpha • Jul 15

Emcore Corporation: It Is Darkest Before Dawn

EMKR has lost more than half of its value YTD, but the charts suggest the stock has hit bottom, and the worst is over. The inventory problem made its presence felt in a big way in Q2, but EMKR's numbers should get better over time as it is a problem that can heal itself. EMKR is arguably undervalued, especially since the company is unlikely to be held down by current problems in the long run. Don’t expect any quick rewards as wounds need time to heal, but long EMKR is worth it for the long haul. EMCORE Corporation (EMKR) is in a hole. The inventory issue revealed earlier in the year has started to negatively impact earnings in a big way, putting EMKR firmly in the red. The stock itself has lost over half of its value YTD. However, the stock is no longer in decline. The worst may have passed for EMKR. Why will be covered next. Who is EMKR EMKR may not be a household name, but as a supplier of optical semiconductors and mixed-signal devices that incorporate analog and digital circuits, its components are used by many well-known companies in a wide range of industries. EMKR's product line can be split into two segments, the broadband segment and the aerospace & defense or A&D segment. In the broadband segment, EMKR supplies, for instance, optical transmitters and other components to companies like Comcast (CMCSA) and Cisco (CSCO) to build high-speed communication networks. Other products include semiconductor chips for hyper-scale datacenters build by companies like Amazon (AMZN) and Google (GOOG, GOOGL). In the A&D segment, EMKR is a provider of inertial navigation systems, inertial measurement units and other sensors for stabilization that are utilized in a range of products, including intercontinental and other long-range ballistic missiles, precision guided munitions and unmanned aerial vehicles or UAVs produced by companies like Raytheon (RTX) and Lockheed Martin (LMT). Why the worst may have passed for EMKR The stock has lost 55% of its value YTD. That is bad, but most of the losses came in the first two months of the year as shown in the chart below. The stock was already heading down prior to this, but things got a lot worse in February when the stock fell off a cliff after EMKR identified an inventory problem at one of its customers. This excess inventory is expected to have a negative impact on the quarterly numbers for some time. A previous article goes deeper into this issue. Source: finviz.com However, the decline has come to a virtual standstill, with the stock staying above the $3 price level for the last several months. Note how in the chart above there is a declining trendline that goes all the way back to last year. EMKR is on the verge of breaking through this trendline by virtue of going sideways. All the stock has to do is to keep doing what it has been doing for the last several months and the trend will be broken. In addition, going sideways brings it closer and closer to overtaking the 50-day moving average, a bullish signal. The stock may be in the process of building a base by going sideways. This would be reminiscent of what happened back in mid-2020, when the stock spent months hovering over the $3 price level, before the stock started to ascend in late 2020 until it peaked in mid-2021. If history repeats itself, the stock may go on another rally once it is done building a base on top of the $3 region. It's possible the stock could still break below the $3 region, but history suggests it won't. Going back further in time shows the stock bottoming in the $3 region on numerous occasions. It happened, for instance, in 2019 after a multi-year decline starting in mid-2017. There are numerous other instances in the 2012-2014 time frame of the stock reversing course after hitting bottom at $3 or so. If history is any indication, the stock may have once again hit bottom now that it has reached the $3 region. The odds definitely favor this outcome. On the other hand, if support fails and the stock falls below the $3 region, then there may be a long way to go before the stock recovers. The one notable exception when the stock did fall below the $3 region occurred in March 2020 after the stock collapsed due to COVID-19. When that happened, EMKR fell all the way to $1.46, which happens to be the low in the last ten years. In other words, the stock could potentially lose another 50% or so if support in the $3 region does not hold. Why long EMKR is worth considering Odds are EMKR has hit bottom in the $3 region, but chart patterns are not the only argument in favor of the bull case. Another one is valuations, although it's not as clear-cut as it used to be. For instance, while EMKR has a market cap of $117M, its enterprise value stands at just $56M thanks to having $80.9M in cash on its balance sheet. It's true EMKR is currently experiencing problems, mostly due to inventory building, but some would argue that $56M is too low a value for a company like EMKR. EMKR has a tangible book value of $139.4M, or approximately $3.72 per share. EMKR has a price-to-book of 0.83, significantly below the 1.0 threshold people keep an eye on. Quite a number of people believe a company is undervalued when its stock trades below its book value, as is the case right now with EMKR. The table below shows the multiples for EMKR. On the other hand, a stock can be valued at less than its book value when there is the perception that the company is heading for financial difficulties. For example, if the company is expected to suffer sustained losses that could eat away at the balance sheet. This could happen even if the balance sheet is in good shape at the moment. Now also how forward multiples are expected to deteriorate compared to the trailing ones. EMKR, for instance, does not have a forward P/E with EMKR expected to finish in the red in FY2022. EMKR trades at 3 times EBITDA on a trailing basis, but this jumps to 24 times EBITDA on a forward basis, which reflects a drastic deterioration in future earnings. EMKR Market cap $116.69M Enterprise value $56.18M Revenue ("ttm") $161.5M EBITDA $17.3M Trailing P/E 6.23 Forward P/E N/A PEG ratio 0.04 P/S 0.71 P/B 0.83 EV/sales 0.35 Trailing EV/EBITDA 3.24 Forward EV/EBITDA 24.46 Source: Seeking Alpha Why earnings are expected to get worse in the near term for EMKR As mentioned earlier, EMKR discovered a problem with inventories at a major customer. As a result, sales and earnings are expected to decline due to the need to clear excess inventories. The most recent earnings report shows the impact on EMKR. Q2 revenue declined by 22.7% QoQ and 15% YoY to $32.7M. Gross and operating margins dropped. EMKR flipped into the red after suffering a net loss of $2.2M or $0.06 per share in terms of GAAP and a net loss of $750,000 or $0.02 in terms of non-GAAP. Adjusted EBITDA barely managed to stay out of the red at plus $270,000. There was also share dilution with the weighted-average number of shares at 37.2M in Q2, up from 34.5M a year ago. The quarterly numbers have certainly gotten a lot worse. The table below shows the numbers for Q2 FY2022. (GAAP) Q2 FY2022 Q1 FY2022 Q2 FY2021 QoQ YoY Revenue $32.650M $42.236M $38.406M (22.70%) (14.99%) Gross margin 28% 37% 38% (900bps) (1000bps) Operating margin (7%) 6% 12% (1300bps) (1900bps) Operating profit (loss) ($2.313M) $2.498M $4.583M Net income (loss) ($2.225M) $2.414M $4.384M EPS ($0.06) $0.06 $0.13 (Non-GAAP) Revenue $32.650M $42.236M $38.406M (22.70%) (14.99%) Gross margin 30% 38% 39% (800bps) (900bps) Operating margin (2%) 13% 15% (1500bps) (1700bps) Operating profit (loss) ($0.738M) $5.320M $5.923M Net income (loss) ($0.750M) $5.309M $5.874M EPS ($0.02) $0.14 $0.17 Source: EMKR Form 8-K Guidance calls for Q3 FY2022 revenue of $25-27M, a decline of 20.4% QoQ and 39.1% YoY at the midpoint. Furthermore, guidance would have been even worse if not for the expected contributions of roughly $3.5M from recent acquisitions. EMKR is projected to post a GAAP loss of $0.24 per share in FY2022, mostly due to a GAAP loss of $0.15 per share in Q3. On the other hand, Q4 is expected to show improvement with a GAAP loss of $0.09 per share. Too much transmitter inventory may be the biggest issue facing EMKR at the moment, but it's not the only one. EMKR is facing headwinds on the supply side as well. From the Q2 earnings call: "Semiconductor availability was a difficult problem in the quarter and costs were up across the board. Microcontrollers and FPGAs were particularly problematic experiencing substantial price increases, other unpredictable logistics challenges that we saw in Q1 remained with us in Q2, causing some surprise pushouts of material that we expected. Those problems are likely to persist going forward, and we don't see a catalyst to drive predictability into the supply chain in the short term. Some components have lead times stretched to over 90 weeks."
Analyseartikel • May 06

What Is EMCORE Corporation's (NASDAQ:EMKR) Share Price Doing?

EMCORE Corporation ( NASDAQ:EMKR ), is not the largest company out there, but it received a lot of attention from a...
Seeking Alpha • Apr 20

Emcore Corporation Could Be An Opportunity At This Point

EMKR reported a problem with excess inventory and the news overshadowed all else, triggering a drop in earnings expectations. EMKR acknowledges that fixing the problem will take time, but there are those who feel the problem is a bigger challenge than EMKR thinks it is. The pessimism has led to a drastic reduction in how EMKR is valued, which could be an opportunity for bargain hunters. Long EMKR is not a bet without risks, but it is a bet worth taking with EMKR assumed to have problems that don’t exist right now.
Analyseartikel • Feb 17

Bearish: Analysts Just Cut Their EMCORE Corporation (NASDAQ:EMKR) Revenue and EPS estimates

Today is shaping up negative for EMCORE Corporation ( NASDAQ:EMKR ) shareholders, with the analysts delivering a...
Analyseartikel • Feb 11

Investors Will Want EMCORE's (NASDAQ:EMKR) Growth In ROCE To Persist

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'll...
Seeking Alpha • Jan 24

Why It Is Worth Sticking With Emcore

Many have given up on EMKR with the stock losing 19% in the first three weeks of 2022, wiping out all gains from last year. The flip side of the big decline in the stock is that EMKR is now available at multiples as low as they’ve been in a long time. EMKR is growing and new products could add to growth in 2022, even if the stock has nothing to show for its accomplishments in the last 12 months. The stock has admittedly done badly, but EMKR has too much going for it to stay down all things considered.

Aufschlüsselung der Einnahmen und Ausgaben

Wie Emcore Geld verdient und ausgibt. Basierend auf den neuesten gemeldeten Einnahmen der letzten zwölf Monate.

Gewinn- und Umsatzhistorie

NasdaqCM:EMKR Einnahmen, Ausgaben und Erträge (USD Millions)
DatumEinnahmenGewinnAllgemeine und VerwaltungskostenF&E-Ausgaben
31 Dec 2481-282311
30 Sep 2486-272213
30 Jun 2491-532615
31 Mar 2497-442716
31 Dec 23102-463017
30 Sep 2398-493318
30 Jun 2318-542414
31 Mar 2315-582614
31 Dec 2223-512413
30 Sep 2245-412214
30 Jun 22143-22919
31 Mar 22161192719
31 Dec 21167252618
30 Sep 21158262417
30 Jun 21148212319
31 Mar 2113362319
31 Dec 20118-32420
30 Sep 20110-72420
30 Jun 20101-231620
31 Mar 2091-322020
31 Dec 1989-322020
30 Sep 1987-362219
30 Jun 1988-272917
31 Mar 1989-252517
31 Dec 1886-232416
30 Sep 1886-172115
30 Jun 1890-92015
31 Mar 1810312014
31 Dec 1711762014
30 Sep 1712382213
30 Jun 1711982011
31 Mar 1711172110
31 Dec 1610052110
30 Sep 169232010
30 Jun 168922010
31 Mar 168821910
31 Dec 158612010
30 Sep 1582-2259
30 Jun 157313259
31 Mar 15659259
31 Dec 145952410
30 Sep 14564229
30 Jun 1484-152113
31 Mar 14104-182315

Qualität der Erträge: EMKR ist derzeit unrentabel.

Wachsende Gewinnspanne: EMKR ist derzeit unrentabel.

Analyse von freiem Cashflow und Gewinn

Analyse des Gewinnwachstums in der Vergangenheit

Ergebnisentwicklung: EMKR ist unrentabel, und die Verluste haben in den letzten 5 Jahren mit einer Rate von 28.9% pro Jahr zugenommen.

Beschleunigtes Wachstum: Das Gewinnwachstum des letzten Jahres kann nicht mit dem 5-Jahres-Durchschnitt von EMKR verglichen werden, da das Unternehmen derzeit nicht profitabel ist.

Erträge im Vergleich zur Industrie: EMKR ist unrentabel, was einen Vergleich des Gewinnwachstums des letzten Jahres mit der Branche Communications (11.5%) erschwert.

Eigenkapitalrendite

Hohe Eigenkapitalrendite: EMKR hat eine negative Eigenkapitalrendite (-61.89%), da es derzeit unrentabel ist.

Kapitalrendite

Rendite auf das eingesetzte Kapital

Entdecken Sie starke Unternehmen, die in der Vergangenheit erfolgreich waren

7D

1Y

7D

1Y

7D

1Y

Unternehmensanalyse und Finanzdaten Status

DatenZuletzt aktualisiert (UTC-Zeit)
Unternehmensanalyse2025/03/04 17:06
Aktienkurs zum Tagesende2025/02/28 00:00
Gewinne2024/12/31
Jährliche Einnahmen2024/09/30

Datenquellen

Die in unserer Unternehmensanalyse verwendeten Daten stammen von S&P Global Market Intelligence LLC. Die folgenden Daten werden in unserem Analysemodell verwendet, um diesen Bericht zu erstellen. Die Daten sind normalisiert, was zu einer Verzögerung bei der Verfügbarkeit der Quelle führen kann.

PaketDatenZeitrahmenBeispiel US-Quelle *
Finanzdaten des Unternehmens10 Jahre
  • Gewinn- und Verlustrechnung
  • Kapitalflussrechnung
  • Bilanz
Konsensschätzungen der Analysten+3 Jahre
  • Finanzielle Vorausschau
  • Kursziele der Analysten
Marktpreise30 Jahre
  • Aktienkurse
  • Dividenden, Splits und Aktionen
Eigentümerschaft10 Jahre
  • Top-Aktionäre
  • Insiderhandel
Verwaltung10 Jahre
  • Das Führungsteam
  • Direktorium
Wichtige Entwicklungen10 Jahre
  • Ankündigungen des Unternehmens

* Beispiel für US-Wertpapiere, für nicht-US-amerikanische Wertpapiere werden gleichwertige regulatorische Formulare und Quellen verwendet.

Sofern nicht anders angegeben, beziehen sich alle Finanzdaten auf einen Jahreszeitraum, werden aber vierteljährlich aktualisiert. Dies wird als Trailing Twelve Month (TTM) oder Last Twelve Month (LTM) Daten bezeichnet. Erfahren Sie mehr.

Analysemodell und Schneeflocke

Einzelheiten zu dem Analysemodell, mit dem dieser Bericht erstellt wurde, finden Sie auf unserer Github-Seite. Außerdem bieten wir Leitfäden zur Verwendung unserer Berichte und Tutorials auf YouTube an.

Erfahren Sie mehr über das Weltklasse-Team, das das Simply Wall St-Analysemodell entworfen und entwickelt hat.

Metriken für Industrie und Sektor

Unsere Branchen- und Sektionskennzahlen werden alle 6 Stunden von Simply Wall St berechnet. Details zu unserem Verfahren finden Sie auf Github.

Analysten-Quellen

Emcore Corporation wird von 6 Analysten beobachtet. 1 dieser Analysten hat die Umsatz- oder Gewinnschätzungen übermittelt, die als Grundlage für unseren Bericht dienen. Die von den Analysten übermittelten Daten werden im Laufe des Tages aktualisiert.

AnalystEinrichtung
Ku KangB. Riley Securities, Inc.
Jonathan DorsheimerCanaccord Genuity
William ChoiJefferies LLC