ASX:IDX

Stock Analysis Report

Integral Diagnostics

Executive Summary

Integral Diagnostics Limited, a healthcare services company, provides diagnostic imaging services to general practitioners, medical specialists, and allied health professionals and their patients.

Rewards

Trading at 56% below its fair value

Earnings are forecast to grow 16.48% per year

Earnings grew by 21.3% over the past year

Risk Analysis

Has a high level of debt

Unstable dividend track record

Highly volatile share price over past 3 months

Shareholders have been diluted in the past year



Snowflake Analysis

Solid track record with moderate growth potential.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-3.7%

IDX

-0.6%

AU Healthcare

4.0%

AU Market


1 Year Return

-4.1%

IDX

-12.0%

AU Healthcare

-16.5%

AU Market

Return vs Industry: IDX exceeded the Australian Healthcare industry which returned -12% over the past year.

Return vs Market: IDX exceeded the Australian Market which returned -16.5% over the past year.


Shareholder returns

IDXIndustryMarket
7 Day-3.7%-0.6%4.0%
30 Day-28.0%-18.4%-15.4%
90 Day-29.7%-22.8%-23.5%
1 Year-1.1%-4.1%-9.4%-12.0%-12.8%-16.5%
3 Year125.3%102.3%-9.0%-17.4%-0.9%-14.5%
5 Yearn/a-9.2%-22.4%11.2%-13.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: IDX (A$2.6) is trading below our estimate of fair value (A$5.91)

Significantly Below Fair Value: IDX is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: IDX is poor value based on its PE Ratio (20.5x) compared to the Healthcare industry average (12.3x).

PE vs Market: IDX is poor value based on its PE Ratio (20.5x) compared to the Australian market (13.4x).


Price to Earnings Growth Ratio

PEG Ratio: IDX is poor value based on its PEG Ratio (1.2x)


Price to Book Ratio

PB vs Industry: IDX is overvalued based on its PB Ratio (2.2x) compared to the AU Healthcare industry average (1.4x).


Next Steps

Future Growth

How is Integral Diagnostics forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

16.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IDX's forecast earnings growth (16.5% per year) is above the savings rate (1.1%).

Earnings vs Market: IDX's earnings (16.5% per year) are forecast to grow faster than the Australian market (10.5% per year).

High Growth Earnings: IDX's earnings are forecast to grow, but not significantly.

Revenue vs Market: IDX's revenue (9.2% per year) is forecast to grow faster than the Australian market (4.1% per year).

High Growth Revenue: IDX's revenue (9.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: IDX's Return on Equity is forecast to be low in 3 years time (16.8%).


Next Steps

Past Performance

How has Integral Diagnostics performed over the past 5 years?

19.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IDX has high quality earnings.

Growing Profit Margin: IDX's current net profit margins (8.5%) are higher than last year (8.3%).


Past Earnings Growth Analysis

Earnings Trend: IDX's earnings have grown by 19.1% per year over the past 5 years.

Accelerating Growth: IDX's earnings growth over the past year (21.3%) exceeds its 5-year average (19.1% per year).

Earnings vs Industry: IDX earnings growth over the past year (21.3%) exceeded the Healthcare industry 8.7%.


Return on Equity

High ROE: IDX's Return on Equity (9.4%) is considered low.


Next Steps

Financial Health

How is Integral Diagnostics's financial position?


Financial Position Analysis

Short Term Liabilities: IDX's short term assets (A$45.2M) do not cover its short term liabilities (A$58.3M).

Long Term Liabilities: IDX's short term assets (A$45.2M) do not cover its long term liabilities (A$265.8M).


Debt to Equity History and Analysis

Debt Level: IDX's debt to equity ratio (61.3%) is considered high.

Reducing Debt: IDX's debt to equity ratio has reduced from 196.5% to 61.3% over the past 5 years.

Debt Coverage: IDX's debt is well covered by operating cash flow (28.4%).

Interest Coverage: IDX's interest payments on its debt are well covered by EBIT (6.2x coverage).


Balance Sheet


Next Steps

Dividend

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

4.23%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: IDX's dividend (4.23%) is higher than the bottom 25% of dividend payers in the Australian market (3.01%).

High Dividend: IDX's dividend (4.23%) is low compared to the top 25% of dividend payers in the Australian market (7.94%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, IDX has been paying a dividend for less than 10 years.

Growing Dividend: IDX's dividend payments have increased, but the company has only paid a dividend for 4 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (82.9%), IDX's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: IDX's dividends in 3 years are forecast to be covered by earnings (63.5% payout ratio).


Next Steps

Management

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

2.6yrs

Average management tenure


CEO

Ian Kadish (56yo)

2.92s

Tenure

AU$710,863

Compensation

Dr. Ian Kadish, MBBCh, MBA has been the Chief Executive Officer, Managing Director and Director at Integral Diagnostics Limited since May 22, 2017. Dr. Kadish serves as Independent Non-Executive Director o ...


CEO Compensation Analysis

Compensation vs Market: Ian's total compensation ($USD0.00) is below average for companies of similar size in the Australian market ($USD749.05K).

Compensation vs Earnings: Ian's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Ian Kadish
CEO, MD & Director2.92yrsAU$710.86k0.046% A$232.5k
Anne Lockwood
CFO & Chief Commercial Officer2.58yrsAU$411.07kno data
Chien Ho
Executive Director12yrsAU$535.86k1.11% A$5.6m
Jacqueline Milne
Executive Director0.42yrno datano data
Kirsty Lally
Company Secretary0.75yrno datano data

2.6yrs

Average Tenure

Experienced Management: IDX's management team is considered experienced (2.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Ian Kadish
CEO, MD & Director2.92yrsAU$710.86k0.046% A$232.5k
Chien Ho
Executive Director12yrsAU$535.86k1.11% A$5.6m
Jacqueline Milne
Executive Director0.42yrno datano data
Rupert Harrington
Non-Executive Director4.5yrsAU$118.50k0.18% A$930.6k
Raelene Murphy
Independent Non-Executive Director2.5yrsAU$90.00k0.013% A$64.9k
Helen Kurincic
Independent Non-Executive Chairman5.33yrsAU$200.00k0.25% A$1.3m
John Atkin
Independent Non-Executive Director4.5yrsAU$122.00k0.080% A$404.4k

4.5yrs

Average Tenure

59yo

Average Age

Experienced Board: IDX's board of directors are considered experienced (4.5 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if 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 diluted in the past year, with total shares outstanding growing by 11.5%.


Top Shareholders

Company Information

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


Key Information

  • Name: Integral Diagnostics Limited
  • Ticker: IDX
  • Exchange: ASX
  • Founded:
  • Industry: Health Care Services
  • Sector: Healthcare
  • Market Cap: AU$506.179m
  • Shares outstanding: 194.68m
  • Website: https://www.integraldiagnostics.com.au

Number of Employees


Location

  • Integral Diagnostics Limited
  • 45 William Street
  • Suite 9.02, Level 9
  • Melbourne
  • Victoria
  • 3000
  • Australia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IDXASX (Australian Securities Exchange)YesOrdinary SharesAUAUDOct 2015
IDXCHIA (Chi-X Australia)YesOrdinary SharesAUAUDOct 2015

Biography

Integral Diagnostics Limited, a healthcare services company, provides diagnostic imaging services to general practitioners, medical specialists, and allied health professionals and their patients. The company provides its services through a network of 53 clinics in Queensland, Victoria, and Western Australia, Australia; and Auckland, New Zealand. Integral Diagnostics Limited is based in Melbourne, Australia. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/08 16:21
End of Day Share Price2020/04/08 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.