ENXTBR:IBAB

Stock Analysis Report

Ion Beam Applications

Executive Summary

Ion Beam Applications SA develops, manufactures, and supports medical devices and software solutions for cancer treatments in Belgium, the United States, and internationally.


Snowflake Analysis

Good value with mediocre balance sheet.


Similar Companies

Share Price & News

How has Ion Beam Applications's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

-3.6%

IBAB

2.9%

BE Medical Equipment

2.3%

BE Market


1 Year Return

-48.1%

IBAB

4.4%

BE Medical Equipment

-28.9%

BE Market

Return vs Industry: IBAB underperformed the Belgian Medical Equipment industry which returned 5.4% over the past year.

Return vs Market: IBAB underperformed the Belgian Market which returned -28.1% over the past year.


Shareholder returns

IBABIndustryMarket
7 Day-3.6%2.9%2.3%
30 Day-21.9%-9.6%-17.3%
90 Day-39.2%-10.3%-29.9%
1 Year-48.1%-48.1%5.9%4.4%-27.5%-28.9%
3 Year-85.3%-85.3%43.9%37.6%-33.0%-37.4%
5 Year-68.3%-69.4%85.1%67.2%-35.3%-42.7%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Ion Beam Applications undervalued compared to its fair value and its price relative to the market?

4.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: IBAB (€7.99) is trading below our estimate of fair value (€8.14)

Significantly Below Fair Value: IBAB is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: IBAB is good value based on its PE Ratio (-32.8x) compared to the Medical Equipment industry average (36.4x).

PE vs Market: IBAB is good value based on its PE Ratio (-32.8x) compared to the Belgian market (13.1x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: IBAB is good value based on its PB Ratio (2.4x) compared to the XE Medical Equipment industry average (3.5x).


Next Steps

Future Growth

How is Ion Beam Applications forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

4.4%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if IBAB's forecast earnings growth is above the savings rate (0.7%).

Earnings vs Market: Insufficient data to determine if IBAB's earnings are forecast to grow faster than the Belgian market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: IBAB's revenue (4.4% per year) is forecast to grow faster than the Belgian market (1.7% per year).

High Growth Revenue: IBAB's revenue (4.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if IBAB's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Ion Beam Applications performed over the past 5 years?

-49.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IBAB has high quality earnings.

Growing Profit Margin: IBAB became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: IBAB's earnings have declined by -49.5% per year over the past 5 years.

Accelerating Growth: IBAB has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: IBAB has become profitable in the last year, making it difficult to compare its past year earnings growth to the Medical Equipment industry (3.1%).


Return on Equity

High ROE: IBAB's Return on Equity (7.7%) is considered low.


Next Steps

Financial Health

How is Ion Beam Applications's financial position?


Financial Position Analysis

Short Term Liabilities: IBAB's short term assets (€298.2M) exceed its short term liabilities (€234.7M).

Long Term Liabilities: IBAB's short term assets (€298.2M) exceed its long term liabilities (€59.1M).


Debt to Equity History and Analysis

Debt Level: IBAB's debt to equity ratio (66.1%) is considered high.

Reducing Debt: IBAB's debt to equity ratio has increased from 29% to 66.1% over the past 5 years.

Debt Coverage: IBAB's debt is not well covered by operating cash flow (17.5%).

Interest Coverage: IBAB's interest payments on its debt are well covered by EBIT (7.4x coverage).


Balance Sheet

Inventory Level: IBAB has a high level of physical assets or inventory.

Debt Coverage by Assets: IBAB's debt is covered by short term assets (assets are 4.6x debt).


Next Steps

Dividend

What is Ion Beam Applications's current dividend yield, its reliability and sustainability?

0.98%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: IBAB's dividend (0.95%) isn’t notable compared to the bottom 25% of dividend payers in the Belgian market (2.74%).

High Dividend: IBAB's dividend (0.95%) is low compared to the top 25% of dividend payers in the Belgian market (6.54%).


Stability and Growth of Payments

Stable Dividend: IBAB is not paying a notable dividend for the Belgian market, therefore no need to check if payments are stable.

Growing Dividend: IBAB is not paying a notable dividend for the Belgian market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: IBAB is not paying a notable dividend for the Belgian market.


Future Payout to Shareholders

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


Next Steps

Management

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

5.9yrs

Average management tenure


CEO

Olivier Legrain (51yo)

7.92s

Tenure

€321,458

Compensation

Mr. Olivier Legrain has been the Chief Executive Officer, President and Executive Director at Ion Beam Applications, S.A. since May 9, 2012 and served as its President of Molecular Medicine at Ion Beam App ...


CEO Compensation Analysis

Compensation vs Market: Olivier's total compensation ($USD351.51K) is below average for companies of similar size in the Belgian market ($USD504.28K).

Compensation vs Earnings: Olivier's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Pierre Mottet
Chairman of The Board6.92yrs€63.75kno data
Olivier Legrain
CEO, President7.92yrs€321.46kno data
Yves Jongen
Founder28.92yrsno datano data
Soumya Chandramouli
Chief Financial Officer3.83yrsno datano data
Frédéric Nolf
Chief Human Resources & Sustainability Officer10.25yrsno datano data
Jean-Marc Bothy
President of IBA Dosimetry2.17yrsno datano data
Thomas Ralet
Vice-President of Corporate Communicationno datano datano data
Matthias Dierl
Chief Medical Physicist of Radiation Therapyno datano datano data
Marc Van der Burght
Executive Vice President of Proton Therapy Installationno datano datano data

5.9yrs

Average Tenure

53yo

Average Age

Experienced Management: IBAB's management team is seasoned and experienced (5.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Pierre Mottet
Chairman of The Board6.92yrs€63.75kno data
Olivier Legrain
CEO, President7.92yrs€321.46kno data
Yves Jongen
Founder28.92yrsno datano data
Marcel Miller
Independent Director8.92yrs€22.78kno data
Eric de Lamotte
Other Director20.17yrs€22.78kno data
Katleen Vandeweyer
Independent Director7.25yrs€26.86kno data
Sybille Van den Hove
Independent Director4.92yrs€23.72kno data
Hedvig Hricak
Independent Director2.92yrs€17.68kno data

7.6yrs

Average Tenure

59.5yo

Average Age

Experienced Board: IBAB's board of directors are considered experienced (7.6 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.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Ion Beam Applications SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Ion Beam Applications SA
  • Ticker: IBAB
  • Exchange: ENXTBR
  • Founded: 1986
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: €228.675m
  • Shares outstanding: 29.66m
  • Website: https://www.iba-worldwide.com

Number of Employees


Location

  • Ion Beam Applications SA
  • 3, chemin du Cyclotron
  • Louvain-la-Neuve
  • Walloon Brabant
  • 1348
  • Belgium

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IOBC.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJun 1998
IBABENXTBR (Euronext Brussels)YesOrdinary SharesBEEURJun 1998
IOBDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJun 1998
0GZKLSE (London Stock Exchange)YesOrdinary SharesGBEURJun 1998
IBABBBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJun 1998

Biography

Ion Beam Applications SA develops, manufactures, and supports medical devices and software solutions for cancer treatments in Belgium, the United States, and internationally. The company operates through Proton Therapy and Other Accelerators, and Dosimetry segments. The Proton Therapy and Other Accelerators segment develops, fabricates, and services medical and industrial particle accelerators, and proton therapy systems. It offers turnkey solutions for the treatment of cancer through the use of proton beams; and a line of cyclotrons used for the production of positron emission tomography or single photon emission computed tomography radioisotopes, as well as a line of industrial accelerators for sterilization and ionization. The Dosimetry segment provides measurement and quality assurance instruments for radiotherapy and medical imaging to enable healthcare professionals to verify that equipment administers the planned dose to the targeted area. The company has a strategic alliance with RaySearch Laboratories AB for the advancement of adaptive proton therapy. Ion Beam Applications SA was founded in 1986 and is headquartered in Louvain-la-Neuve, Belgium. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/03 20:34
End of Day Share Price2020/04/03 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.