ASX:CDX

Stock Analysis Report

Executive Summary

CardieX Limited designs, manufactures, and markets medical devices for use in cardiovascular health management in the Americas, Europe, and the Asia Pacific.


Snowflake Analysis

Mediocre balance sheet and overvalued.

Share Price & News

How has CardieX's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CDX's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

7.1%

CDX

18.1%

AU Medical Equipment

5.3%

AU Market


1 Year Return

-59.5%

CDX

13.8%

AU Medical Equipment

-17.6%

AU Market

Return vs Industry: CDX underperformed the Australian Medical Equipment industry which returned 8.8% over the past year.

Return vs Market: CDX underperformed the Australian Market which returned -19.4% over the past year.


Shareholder returns

CDXIndustryMarket
7 Day7.1%18.1%5.3%
30 Day-34.8%-8.1%-18.2%
90 Day-46.4%-11.7%-22.6%
1 Year-59.5%-59.5%15.9%13.8%-13.9%-17.6%
3 Year-72.9%-73.7%37.9%31.3%-0.4%-14.1%
5 Year-91.6%-91.9%80.0%64.5%10.7%-14.3%

Price Volatility Vs. Market

How volatile is CardieX's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is CardieX undervalued compared to its fair value and its price relative to the market?

1.64x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate CDX's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate CDX's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: CDX is unprofitable, so we can't compare its PE Ratio to the Medical Equipment industry average.

PE vs Market: CDX is unprofitable, so we can't compare its PE Ratio to the Australian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CDX's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CDX is good value based on its PB Ratio (1.6x) compared to the AU Medical Equipment industry average (3.2x).


Next Steps

Future Growth

How is CardieX forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

39.8%

Forecasted Healthcare industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as CardieX has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has CardieX performed over the past 5 years?

-4.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CDX is currently unprofitable.

Growing Profit Margin: CDX is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CDX is unprofitable, and losses have increased over the past 5 years at a rate of -4.3% per year.

Accelerating Growth: Unable to compare CDX's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CDX is unprofitable, making it difficult to compare its past year earnings growth to the Medical Equipment industry (14.7%).


Return on Equity

High ROE: CDX has a negative Return on Equity (-51.9%), as it is currently unprofitable.


Next Steps

Financial Health

How is CardieX's financial position?


Financial Position Analysis

Short Term Liabilities: CDX's short term assets (A$3.3M) exceed its short term liabilities (A$2.2M).

Long Term Liabilities: CDX's short term assets (A$3.3M) exceed its long term liabilities (A$509.0K).


Debt to Equity History and Analysis

Debt Level: CDX's debt to equity ratio (3.4%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if CDX's debt to equity ratio has reduced over the past 5 years.


Balance Sheet

Inventory Level: CDX has a low level of unsold assets or inventory.

Debt Coverage by Assets: CDX's debt is covered by short term assets (assets are 13.8x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: CDX has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: CDX has less than a year of cash runway if free cash flow continues to reduce at historical rates of -6.4% each year


Next Steps

Dividend

What is CardieX's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate CDX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate CDX's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CDX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CDX's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CDX's dividend in 3 years as they are not forecast to pay a notable one for the Australian market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.9yrs

Average management tenure


CEO

Craig Cooper

2.33s

Tenure

AU$851,024

Compensation

Mr. Craig R. Cooper is the Co-Owner at C2 Ventures Pty Ltd and Chief Executive Officer, Managing Director and Executive Director at AtCor Medical Holdings Limited since December 01, 2017. Mr. Cooper is a M ...


CEO Compensation Analysis

Compensation vs Market: Craig's total compensation ($USD522.07K) is above average for companies of similar size in the Australian market ($USD246.06K).

Compensation vs Earnings: Craig's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Niall Charles Cairns
Executive Chairman1.17yrsAU$148.70k0.40% A$45.0k
Craig Cooper
CEO, MD & Director2.33yrsAU$851.02kno data
Jarrod White
CFO & Company Secretary2.08yrsno datano data
Chris Dax
Vice President of Operations0.83yrno datano data
Antony Sloan
Global Head of Marketing & Communicationsno datano datano data
ZiHan Lin
Vice President of Corporate Development1.75yrsno datano data
Douglas Kurschinski
Executive VP & Head of Global Sales for AtCor Medical Divisionno dataAU$360.84kno data

1.9yrs

Average Tenure

Experienced Management: CDX's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Niall Charles Cairns
Executive Chairman1.17yrsAU$148.70k0.40% A$45.0k
Craig Cooper
CEO, MD & Director2.33yrsAU$851.02kno data
Randall Nelson
Independent Non-Executive Director4.42yrsAU$94.97k0.020% A$2.3k
Harry Kim
Special Advisor1.08yrsno datano data

1.8yrs

Average Tenure

Experienced Board: CDX's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: CDX insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 59.1%.


Top Shareholders

Company Information

CardieX Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: CardieX Limited
  • Ticker: CDX
  • Exchange: ASX
  • Founded: 2005
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: AU$11.298m
  • Shares outstanding: 753.21m
  • Website: https://cardiex.com

Location

  • CardieX Limited
  • 15 Lime Street
  • Suite 303
  • Sydney
  • New South Wales
  • 2000
  • Australia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CDXASX (Australian Securities Exchange)YesOrdinary SharesAUAUDNov 2005
AMDH.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDNov 2005
CDXCHIA (Chi-X Australia)YesOrdinary SharesAUAUDNov 2005

Biography

CardieX Limited designs, manufactures, and markets medical devices for use in cardiovascular health management in the Americas, Europe, and the Asia Pacific. The company develops, markets, and distributes medical technologies that measure patient risk for hypertension, cardiovascular disease (CVD), and other related vascular disorders. The company offers XCEL SphygmoCor for measuring central arterial pressure; SphygmoCor Inside, which uses pulse waveform analysis for calculating central pressures and arterial stiffness; SphygmoCor technology for non-invasive measuring of the central arterial pressure waveform, central aortic pressures, and pulse wave velocity; and SphygmoCor system for measuring central arterial pressure waveform analysis. It also provides TeleHealth Services, which provides digital, e-commerce, and mobile tools for patients to connect online with health coaches. CardieX Limited has strategic collaboration with Blumio Inc. to develop non-invasive wearable technologies that identify patient risk profiles for hypertension, CVD, and related disorders. It offers its devices and services to hospitals, clinics, research institutions and pharmaceutical companies. The company was formerly known as AtCor Medical Holdings Limited and changed its name to CardieX Limited in June 2018. CardieX Limited was incorporated in 2005 and is based in Sydney, Australia. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/01 13:35
End of Day Share Price2020/04/01 00:00
Earnings2019/12/31
Annual Earnings2019/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.