ASX:IPD

Stock Analysis Report

Executive Summary

ImpediMed Limited, together with its subsidiaries, develops, manufactures, and sells bioimpedance spectroscopy devices and software services in Australia, North America, and internationally.


Snowflake Analysis

Adequate balance sheet with limited growth.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-16.7%

IPD

12.6%

AU Medical Equipment

7.1%

AU Market


1 Year Return

-80.5%

IPD

8.8%

AU Medical Equipment

-19.4%

AU Market

Return vs Industry: IPD underperformed the Australian Medical Equipment industry which returned 9.1% over the past year.

Return vs Market: IPD underperformed the Australian Market which returned -18.8% over the past year.


Shareholder returns

IPDIndustryMarket
7 Day-16.7%12.6%7.1%
30 Day-50.0%-13.0%-21.3%
90 Day-75.8%-16.1%-24.8%
1 Year-80.3%-80.5%10.8%8.8%-15.8%-19.4%
3 Year-94.5%-94.5%31.7%25.5%-2.4%-15.8%
5 Year-94.9%-95.0%70.6%55.8%8.4%-16.0%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

1.13x

Price to Book (PB) ratio


Share Price vs. Fair Value

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

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


Price To Earnings Ratio

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

PE vs Market: IPD 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 IPD's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: IPD is good value based on its PB Ratio (1.1x) compared to the AU Medical Equipment industry average (3.4x).


Next Steps

Future Growth

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

65.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IPD is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: IPD is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: IPD is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: IPD's revenue (46.8% per year) is forecast to grow faster than the Australian market (4% per year).

High Growth Revenue: IPD's revenue (46.8% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: IPD is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has ImpediMed performed over the past 5 years?

-9.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IPD is currently unprofitable.

Growing Profit Margin: IPD is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: IPD is unprofitable, and losses have increased over the past 5 years at a rate of -9.9% per year.

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

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


Return on Equity

High ROE: IPD has a negative Return on Equity (-138%), as it is currently unprofitable.


Next Steps

Financial Health

How is ImpediMed's financial position?


Financial Position Analysis

Short Term Liabilities: IPD's short term assets (A$17.1M) exceed its short term liabilities (A$6.1M).

Long Term Liabilities: IPD's short term assets (A$17.1M) exceed its long term liabilities (A$588.0K).


Debt to Equity History and Analysis

Debt Level: IPD is debt free.

Reducing Debt: IPD has not had any debt for past 5 years.


Balance Sheet

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

Debt Coverage by Assets: Insufficient data to determine if IPD's debt is covered by short term assets.


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: IPD has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: IPD has less than a year of cash runway if free cash flow continues to reduce at historical rates of -18.9% each year


Next Steps

Dividend

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


Dividend Yield vs Market

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

High Dividend: Unable to evaluate IPD'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 IPD's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if IPD'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 IPD'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?

5.2yrs

Average management tenure


CEO

Rick Carreon

7.67s

Tenure

AU$2,497,973

Compensation

Mr. Richard Carreon, also known as Rick, has been the Managing Director of ImpediMed Limited since May 9, 2015 and as its Chief Executive Officer and President since July 10, 2012. Mr. Carreon is a seasone ...


CEO Compensation Analysis

Compensation vs Market: Rick's total compensation ($USD1.54M) is above average for companies of similar size in the Australian market ($USD245.57K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Richard Carreon
MD, CEO7.67yrsAU$2.50m0.31% A$64.1k
David Adams
Senior Vice President of Operations & Strategic Planning1.17yrsAU$751.78k0.031% A$6.4k
Shashi Tripathi
Chief Technology Officer1.67yrsAU$1.13mno data
Dennis Schlaht
Senior Vice President of R&D and Technologyno dataAU$884.15k0.18% A$36.6k
Catherine Kingsford
Senior Vice President of Medical Affairsno dataAU$795.44k0.23% A$47.4k
Timothy Cruickshank
Executive VP of Finance & Interim CFOno datano datano data
Nancy Deisinger
Vice President of Human Resources1.17yrsno datano data
Frank Vicini
Chief Medical Officer5.42yrsno datano data
Leanne Ralph
Company Secretary5.17yrsno datano data
Walton Taylor
Medical Director10yrsno datano data

5.2yrs

Average Tenure

Experienced Management: IPD's management team is seasoned and experienced (5.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Richard Carreon
MD, CEO7.67yrsAU$2.50m0.31% A$64.1k
Scott Ward
Non-Executive Chairman2.25yrsAU$160.18k0.15% A$30.4k
Robert Graham
Non-Executive Director2.25yrsAU$73.91k0.041% A$8.3k
Donald Williams
Non-Executive Director3yrsAU$114.94k0.097% A$19.8k
Judith Downes
Non-Executive Director2.83yrsAU$82.13k0.067% A$13.6k
Amit Patel
Non-Executive Director3yrsAU$94.04k0.076% A$15.5k

2.9yrs

Average Tenure

60yo

Average Age

Experienced Board: IPD's board of directors are not considered experienced ( 2.9 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: 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 15%.


Top Shareholders

Company Information

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


Key Information

  • Name: ImpediMed Limited
  • Ticker: IPD
  • Exchange: ASX
  • Founded: 1999
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: AU$20.442m
  • Shares outstanding: 511.05m
  • Website: https://www.impedimed.com

Number of Employees


Location

  • ImpediMed Limited
  • 50 Parker Court
  • Unit 1
  • Pinkenba
  • Queensland
  • 4008
  • Australia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IPDASX (Australian Securities Exchange)YesOrdinary SharesAUAUDOct 2007
IPDQ.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDOct 2007
IPDCHIA (Chi-X Australia)YesOrdinary SharesAUAUDOct 2007
39IDB (Deutsche Boerse AG)YesOrdinary SharesDEEUROct 2007

Biography

ImpediMed Limited, together with its subsidiaries, develops, manufactures, and sells bioimpedance spectroscopy devices and software services in Australia, North America, and internationally. It offers SOZO, a noninvasive bioimpedance spectroscopy device for the detection of lymphedema and fluid status monitoring of heart failure patients. The company sells its devices to hospitals and clinics. ImpediMed Limited was founded in 1999 and is headquartered in Pinkenba, Australia. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/31 10:40
End of Day Share Price2020/03/27 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.