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Hamilton Thorne

TSXV:HTL
Snowflake Description

Flawless balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HTL
TSXV
CA$136M
Market Cap
  1. Home
  2. CA
  3. Healthcare
Company description

Hamilton Thorne Ltd., together with its subsidiary, Hamilton Thorne, Inc., develops, manufactures, and sells precision laser devices and advanced image analysis systems for living cell applications in the fertility, stem cell, and developmental biology research markets. The last earnings update was 55 days ago. More info.


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HTL Share Price and Events
7 Day Returns
0%
TSXV:HTL
-0.3%
CA Medical Equipment
0%
CA Market
1 Year Returns
22.2%
TSXV:HTL
-15.8%
CA Medical Equipment
-2.8%
CA Market
HTL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Hamilton Thorne (HTL) 0% 2.8% -8.3% 22.2% 547.1% 1000%
CA Medical Equipment -0.3% -4% -8.1% -15.8% -57.2% -83.4%
CA Market 0% 1% -1.7% -2.8% 8% 1%
1 Year Return vs Industry and Market
  • HTL outperformed the Medical Equipment industry which returned -15.8% over the past year.
  • HTL outperformed the Market in Canada which returned -2.8% over the past year.
Price Volatility
HTL
Industry
5yr Volatility vs Market

Value

 Is Hamilton Thorne undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Hamilton Thorne to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Hamilton Thorne.

TSXV:HTL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.7%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSXV:HTL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Medical Equipment Unlevered Beta Simply Wall St/ S&P Global 0.87
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.869 (1 + (1- 21%) (11.11%))
0.964
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.96
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (0.964 * 5.96%)
7.69%

Discounted Cash Flow Calculation for TSXV:HTL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Hamilton Thorne is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSXV:HTL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.69%)
2020 5.11 Est @ 36.37% 4.75
2021 6.44 Est @ 26.04% 5.55
2022 7.65 Est @ 18.81% 6.13
2023 8.71 Est @ 13.75% 6.47
2024 9.60 Est @ 10.21% 6.62
2025 10.34 Est @ 7.73% 6.63
2026 10.96 Est @ 6% 6.52
2027 11.48 Est @ 4.78% 6.35
2028 11.93 Est @ 3.93% 6.13
2029 12.33 Est @ 3.34% 5.88
Present value of next 10 years cash flows $61.03
TSXV:HTL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $12.33 × (1 + 1.95%) ÷ (7.69% – 1.95%)
$218.90
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $218.90 ÷ (1 + 7.69%)10
$104.35
TSXV:HTL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $61.03 + $104.35
$165.38
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $165.38 / 123.78
$1.34
TSXV:HTL Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of TSXV:HTL)
1.304
Value per Share
(CAD)
= Value per Share in USD x Exchange Rate (USD/CAD)
= $1.34 x 1.304
CA$1.74
Value per share (CAD) From above. CA$1.74
Current discount Discount to share price of CA$1.10
= -1 x (CA$1.10 - CA$1.74) / CA$1.74
36.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Hamilton Thorne is available for.
Intrinsic value
37%
Share price is CA$1.1 vs Future cash flow value of CA$1.74
Current Discount Checks
For Hamilton Thorne to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Hamilton Thorne's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Hamilton Thorne's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Hamilton Thorne's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Hamilton Thorne's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSXV:HTL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.01
TSXV:HTL Share Price ** TSXV (2019-07-16) in CAD CA$1.1
TSXV:HTL Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.767 $0.84
North America Medical Equipment Industry PE Ratio Median Figure of 66 Publicly-Listed Medical Equipment Companies 41.66x
Canada Market PE Ratio Median Figure of 539 Publicly-Listed Companies 15.14x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Hamilton Thorne.

TSXV:HTL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSXV:HTL Share Price ÷ EPS (both in USD)

= 0.84 ÷ 0.01

63.38x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hamilton Thorne is overvalued based on earnings compared to the North America Medical Equipment industry average.
  • Hamilton Thorne is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does Hamilton Thorne's expected growth come at a high price?
Raw Data
TSXV:HTL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 63.38x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
55.7%per year
North America Medical Equipment Industry PEG Ratio Median Figure of 56 Publicly-Listed Medical Equipment Companies 2.27x
Canada Market PEG Ratio Median Figure of 248 Publicly-Listed Companies 1.16x

*Line of best fit is calculated by linear regression .

TSXV:HTL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 63.38x ÷ 55.7%

1.14x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hamilton Thorne is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Hamilton Thorne's assets?
Raw Data
TSXV:HTL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $0.27
TSXV:HTL Share Price * TSXV (2019-07-16) in CAD CA$1.1
TSXV:HTL Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.767 $0.84
Canada Medical Equipment Industry PB Ratio Median Figure of 16 Publicly-Listed Medical Equipment Companies 5.48x
Canada Market PB Ratio Median Figure of 2,440 Publicly-Listed Companies 1.43x
TSXV:HTL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSXV:HTL Share Price ÷ Book Value per Share (both in USD)

= 0.84 ÷ 0.27

3.11x

* Primary Listing of Hamilton Thorne.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hamilton Thorne is good value based on assets compared to the CA Medical Equipment industry average.
X
Value checks
We assess Hamilton Thorne's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Medical Equipment industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Medical Equipment industry average (and greater than 0)? (1 check)
  5. Hamilton Thorne has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Hamilton Thorne expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
55.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Hamilton Thorne expected to grow at an attractive rate?
  • Hamilton Thorne's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Hamilton Thorne's earnings growth is expected to exceed the Canada market average.
  • Hamilton Thorne's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSXV:HTL Future Growth Rates Data Sources
Data Point Source Value (per year)
TSXV:HTL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 55.7%
TSXV:HTL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 6.8%
Canada Medical Equipment Industry Earnings Growth Rate Market Cap Weighted Average 38.7%
Canada Medical Equipment Industry Revenue Growth Rate Market Cap Weighted Average 33.6%
Canada Market Earnings Growth Rate Market Cap Weighted Average 13.9%
Canada Market Revenue Growth Rate Market Cap Weighted Average 5.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSXV:HTL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSXV:HTL Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 36 1
2020-12-31 36 6 4 4
2019-12-31 33 5 3 5
TSXV:HTL Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 30 5 2
2018-12-31 29 4 3
2018-09-30 28 4 5
2018-06-30 28 3 6
2018-03-31 26 3 6
2017-12-31 22 3 6
2017-09-30 19 2 2
2017-06-30 15 2 1
2017-03-31 12 2 1
2016-12-31 11 1 1
2016-09-30 9 1 1
2016-06-30 9 1 1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Hamilton Thorne's earnings are expected to grow significantly at over 20% yearly.
  • Hamilton Thorne's revenue is expected to grow by 6.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSXV:HTL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Hamilton Thorne Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSXV:HTL Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.03 0.03 0.03 1.00
2020-12-31 0.03 0.03 0.03 3.00
2019-12-31 0.02 0.03 0.01 4.00
TSXV:HTL Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.01
2018-12-31 0.03
2018-09-30 0.04
2018-06-30 0.05
2018-03-31 0.06
2017-12-31 0.06
2017-09-30 0.02
2017-06-30 0.01
2017-03-31 0.01
2016-12-31 0.01
2016-09-30 0.01
2016-06-30 0.01

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Hamilton Thorne will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Hamilton Thorne's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Hamilton Thorne has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Hamilton Thorne performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Hamilton Thorne's growth in the last year to its industry (Medical Equipment).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Hamilton Thorne has delivered over 20% year on year earnings growth in the past 5 years.
  • Hamilton Thorne's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Hamilton Thorne's 1-year earnings growth is negative, it can't be compared to the North America Medical Equipment industry average.
Earnings and Revenue History
Hamilton Thorne's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Hamilton Thorne Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSXV:HTL Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 29.85 1.50 11.15 1.71
2018-12-31 29.21 2.96 11.12 1.70
2018-09-30 28.32 4.87 10.61 1.69
2018-06-30 27.54 6.03 10.29 1.79
2018-03-31 25.84 6.19 9.57 1.70
2017-12-31 22.12 5.71 8.55 1.54
2017-09-30 18.59 1.56 7.10 1.29
2017-06-30 14.98 0.97 6.08 1.07
2017-03-31 11.77 1.06 5.13 1.01
2016-12-31 10.51 0.68 4.63 0.99
2016-09-30 9.49 0.55 4.12 1.09
2016-06-30 9.12 0.73 3.75 1.05
2016-03-31 8.97 0.92 3.56 1.01
2015-12-31 9.03 1.03 3.51 0.97
2015-09-30 8.93 1.09 3.55 0.86
2015-06-30 8.86 1.03 3.53 0.86
2015-03-31 8.84 0.94 3.59 0.88
2014-12-31 8.71 0.86 3.54 0.91
2014-09-30 8.46 0.66 3.57 0.92
2014-06-30 8.09 0.52 3.51 0.90
2014-03-31 7.70 0.30 3.42 0.85
2013-12-31 7.48 0.13 3.44 0.84
2013-09-30 7.27 -0.11 3.40 0.81
2013-06-30 7.09 -0.45 3.56 0.85
2013-03-31 6.49 -1.23 3.80 0.95
2012-12-31 6.33 -1.64 4.05 0.98
2012-09-30 6.28 -1.99 4.39 1.10

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Hamilton Thorne has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Hamilton Thorne used its assets less efficiently than the North America Medical Equipment industry average last year based on Return on Assets.
  • Hamilton Thorne's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Hamilton Thorne's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Medical Equipment industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Hamilton Thorne has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Hamilton Thorne's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Hamilton Thorne's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Hamilton Thorne is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Hamilton Thorne's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Hamilton Thorne's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Hamilton Thorne Company Filings, last reported 3 months ago.

TSXV:HTL Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 32.57 9.32 14.45
2018-12-31 33.16 9.58 13.67
2018-09-30 29.44 10.40 13.17
2018-06-30 22.88 10.26 6.28
2018-03-31 23.19 10.79 5.86
2017-12-31 21.68 11.05 5.74
2017-09-30 15.68 11.39 5.35
2017-06-30 14.75 11.67 5.31
2017-03-31 3.88 6.40 2.23
2016-12-31 3.40 7.18 1.84
2016-09-30 2.76 7.29 1.92
2016-06-30 1.93 3.86 4.47
2016-03-31 1.72 3.84 4.46
2015-12-31 1.63 3.86 4.29
2015-09-30 0.18 3.83 3.21
2015-06-30 -0.09 3.85 2.99
2015-03-31 -1.64 3.83 1.83
2014-12-31 -1.79 3.85 1.58
2014-09-30 -2.86 3.84 0.77
2014-06-30 -3.03 3.85 0.61
2014-03-31 -3.27 3.83 0.49
2013-12-31 -3.35 3.85 0.45
2013-09-30 -3.62 3.82 0.29
2013-06-30 -3.65 3.85 0.25
2013-03-31 -3.67 3.84 0.33
2012-12-31 -3.57 3.86 0.37
2012-09-30 -3.58 3.84 0.21
  • Hamilton Thorne's level of debt (28.6%) compared to net worth is satisfactory (less than 40%).
  • Hamilton Thorne had negative shareholder equity 5 years ago, it is now positive therefore their debt level has improved.
  • Debt is well covered by operating cash flow (53.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.1x coverage).
X
Financial health checks
We assess Hamilton Thorne's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Hamilton Thorne has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Hamilton Thorne dividends.
If you bought CA$2,000 of Hamilton Thorne shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Hamilton Thorne's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Hamilton Thorne's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSXV:HTL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
North America Medical Equipment Industry Average Dividend Yield Market Cap Weighted Average of 24 Stocks 1.2%
Canada Market Average Dividend Yield Market Cap Weighted Average of 336 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2.1%
Canada Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSXV:HTL Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Hamilton Thorne has not reported any payouts.
  • Unable to verify if Hamilton Thorne's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Hamilton Thorne's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Hamilton Thorne has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Hamilton Thorne's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Hamilton Thorne afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Hamilton Thorne has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Hamilton Thorne's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
David Wolf
COMPENSATION $467,275
TENURE AS CEO 7.8 years
CEO Bio

Mr. David B. Wolf has been the Chief Executive Officer of Hamilton Thorne Ltd. since September 2011 and serves as its President. Mr. Wolf has been a Director of Hamilton Thorne Ltd., since September 2011. Mr. Wolf holds a BA Degree from McGill University and JD from Boston University.

CEO Compensation
  • David's compensation has been consistent with company performance over the past year, both up more than 20%.
  • David's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Hamilton Thorne management team in years:

8.6
Average Tenure
  • The average tenure for the Hamilton Thorne management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Meg Spencer

TITLE
Co-Founder & Chairman of the Board
COMPENSATION
$19K
TENURE
22.5 yrs

David Wolf

TITLE
President
COMPENSATION
$467K
TENURE
7.8 yrs

Diarmaid Douglas-Hamilton

TITLE
Co-Founder
COMPENSATION
$190K
TENURE
22.5 yrs

Michael Bruns

TITLE
VP of Finance & CFO
COMPENSATION
$242K
AGE
62
TENURE
8.6 yrs

Fabian Sell

TITLE
Chief Executive Officer of Gynemed
COMPENSATION
$259K

Keith Edwards

TITLE
Senior VP & GM
COMPENSATION
$172K
TENURE
3.7 yrs

Eric Dorman

TITLE
President of Embryotech Laboratories Inc
COMPENSATION
$215K
Board of Directors Tenure

Average tenure and age of the Hamilton Thorne board of directors in years:

9.8
Average Tenure
67
Average Age
  • The tenure for the Hamilton Thorne board of directors is about average.
Board of Directors

Meg Spencer

TITLE
Co-Founder & Chairman of the Board
COMPENSATION
$19K

David Wolf

TITLE
President
COMPENSATION
$467K
TENURE
7.8 yrs

Diarmaid Douglas-Hamilton

TITLE
Co-Founder
COMPENSATION
$190K
TENURE
9.8 yrs

Fred Kramer

TITLE
Chairman of Scientific Advisory Board

Bob Potter

TITLE
Director
COMPENSATION
$27K
AGE
65
TENURE
9.8 yrs

Bruno Maruzzo

TITLE
Director
COMPENSATION
$30K
AGE
67
TENURE
12.3 yrs

David Zhang

TITLE
Member of Scientific Advisory Board

Daniel Thorne

TITLE
Director
COMPENSATION
$19K
AGE
67
TENURE
9.8 yrs

Barbara Talamo

TITLE
Member of Scientific Advisory Board

Alan Trounson

TITLE
Member of Scientific Advisory Board
AGE
73
Who owns this company?
Recent Insider Trading
  • Hamilton Thorne individual insiders have only sold shares in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
12. Jun 19 Sell Keith Edwards Individual 07. Jun 19 12. Jun 19 -31,250 CA$1.07 CA$-33,236
07. Mar 19 Sell Keith Edwards Individual 06. Mar 19 06. Mar 19 -7,750 CA$1.05 CA$-8,137
05. Mar 19 Sell Keith Edwards Individual 04. Mar 19 05. Mar 19 -3,900 CA$1.05 CA$-4,098
04. Mar 19 Sell Keith Edwards Individual 04. Mar 19 04. Mar 19 -5,700 CA$1.05 CA$-5,985
10. Feb 19 Sell Keith Edwards Individual 28. Jan 19 29. Jan 19 -13,900 CA$1.05 CA$-14,604
28. Nov 18 Buy Keith Edwards Individual 23. Nov 18 23. Nov 18 31,250 CA$0.99 CA$30,937
28. Aug 18 Sell Robert Potter Individual 24. Aug 18 24. Aug 18 -151,382 CA$1.12 CA$-169,548
27. Aug 18 Sell Keith Edwards Individual 24. Aug 18 24. Aug 18 -31,250 CA$1.06 CA$-33,125
07. Aug 18 Sell Robert Potter Individual 31. Jul 18 01. Aug 18 -38,500 CA$0.97 CA$-37,318
X
Management checks
We assess Hamilton Thorne's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Hamilton Thorne has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

What We Think Of Hamilton Thorne Ltd.’s (CVE:HTL) Investment Potential

ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. … Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Hamilton Thorne: 0.087 = US$3.7m ÷ (US$51m - US$8.9m) (Based on the trailing twelve months to March 2019.) So, Hamilton Thorne has an ROCE of 8.7%. … How Hamilton Thorne's Current Liabilities Impact Its ROCE Current liabilities include invoices, such as supplier payments, short-term debt, or a tax bill, that need to be paid within 12 months.

Simply Wall St -

How Hamilton Thorne Ltd. (CVE:HTL) Could Add Value To Your Portfolio

In the case of HTL, it is a company with impressive financial health as well as an optimistic future outlook. … Flawless balance sheet with reasonable growth potential HTL's strong financial health means that all of its upcoming liability payments are able to be met by its current cash and short-term investment holdings. … This implies that HTL manages its cash and cost levels well, which is a crucial insight into the health of the company.

Simply Wall St -

Investors Who Bought Hamilton Thorne (CVE:HTL) Shares Five Years Ago Are Now Up 1068%

Check out our latest analysis for Hamilton Thorne There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Over half a decade, Hamilton Thorne managed to grow its earnings per share at 18% a year.

Simply Wall St -

How Much Are Hamilton Thorne Ltd. (CVE:HTL) Insiders Taking Off The Table?

So we'll take a look at whether insiders have been buying or selling shares in Hamilton Thorne Ltd. … Over the last year we saw more insider selling of Hamilton Thorne shares, than buying. … Recent insider selling makes us a little nervous, in light of the broader picture of Hamilton Thorne insider transactions.

Simply Wall St -

Is Hamilton Thorne Ltd.'s (CVE:HTL) Future Growth Already Accounted For In Today's Price?

But, seeing as Hamilton Thorne is perceived as a high-growth stock, we must also account for its earnings growth, which is captured in the PEG ratio. … A PE ratio of 32.86x and expected year-on-year earnings growth of 19% give Hamilton Thorne a higher PEG ratio of 1.75x. … This tells us that when we include its growth in our analysis Hamilton Thorne's stock can be considered a bit overvalued , based on the fundamentals.

Simply Wall St -

Read This Before You Buy Hamilton Thorne Ltd. (CVE:HTL) Because Of Its P/E Ratio

Hamilton Thorne has a price to earnings ratio of 19.44, based on the last twelve months. … Price to Earnings Ratio = Share Price (in reporting currency) ÷ Earnings per Share (EPS) … P/E of 19.44 = $0.86 (Note: this is the share price in the reporting currency, namely, USD ) ÷ $0.044

Simply Wall St -

Here's Why We Think Hamilton Thorne (CVE:HTL) Is Well Worth Watching

If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in Hamilton Thorne (CVE:HTL). … I like to see top-line growth as an indication that growth is sustainable, and I look for a high earnings before interest and taxation (EBIT) margin to point to a competitive moat (though some companies with low margins also have moats). … On the one hand, Hamilton Thorne's EBIT margins fell over the last year, but on the other hand, revenue grew.

Simply Wall St -

What Does Hamilton Thorne Ltd.’s (CVE:HTL) 9.3% ROCE Say About The Business?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … What is Return On Capital Employed (ROCE)? … ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business.

Simply Wall St -

Can Hamilton Thorne Ltd. (CVE:HTL) Maintain Its Strong Returns?

Hamilton Thorne has a ROE of 17%, based on the last twelve months. … That means that for every CA$1 worth of shareholders' equity, it generated CA$0.17 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Hamilton Thorne Ltd. (CVE:HTL): A Fundamentally Attractive Investment

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Hamilton Thorne Ltd. … (CVE:HTL) due to its excellent fundamentals in more than one area.

Simply Wall St -

Company Info

Description

Hamilton Thorne Ltd., together with its subsidiary, Hamilton Thorne, Inc., develops, manufactures, and sells precision laser devices and advanced image analysis systems for living cell applications in the fertility, stem cell, and developmental biology research markets. The company offers clinical lasers, such as LYKOS and ZILOS-tk lasers, as well as clinical laser software and hardware for clinical assisted reproduction; and research lasers, including XYRCOS and XYClone lasers for stem cell research, gene targeting, knock out mouse production, SCNT, ICSI, IVF, and assisted hatching applications, as well as Stiletto lasers for isolation of cells of interest, ablation of unwanted cells, and precision scoring of cell colonies. It also provides clinical sperm analysis (CASA) products comprising IVOS II Clinical and CEROS II Clinical, as well as Human Motility II and Dimensions II Strict Morphology software to clinics, hospitals, and assisted reproduction centers; animal and research CASA systems, and motility software packages; and various sperm analyzer options. In addition, the company offers sperm analysis accessories, such as accu-beads+ for use in counting procedures in semen analysis; 2X-CEL disposable semen analysis slides; IDENT Stains for determining sperm motility and concentration; VIADENT stain to determine viable sperm count, concentration, and percentage from a motile sample; and MiniTherm Stage Warmer for CASA and manual sperm motility analysis. Further, it offers IMSI-Strict, an automated software solution for live sperm morphology under high magnification; Oosight imaging system for research purposes; and CIVA, a custom software to capture images/video and annotate. The company sells its products to pharmaceutical and biotechnology companies, fertility clinics, university research centers, and other commercial and academic research establishments worldwide. Hamilton Thorne Ltd. is based in Beverly, Massachusetts.

Details
Name: Hamilton Thorne Ltd.
HTL
Exchange: TSXV
Founded:
CA$136,161,718
123,783,380
Website: http://www.hamiltonthorne.ltd
Address: Hamilton Thorne Ltd.
100 Cummings Center,
Suite 465E,
Beverly,
Massachusetts, 01915,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSXV HTL Common Stock TSX Venture Exchange CA CAD 09. Nov 2009
OTCPK HTLZ.F Common Stock Pink Sheets LLC US USD 09. Nov 2009
DB 0ZM Common Stock Deutsche Boerse AG DE EUR 09. Nov 2009
Number of employees
Current staff
Staff numbers
0
Hamilton Thorne employees.
Industry
Health Care Equipment
Healthcare
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/17 00:29
End of day share price update: 2019/07/16 00:00
Last estimates confirmation: 2019/05/24
Last earnings filing: 2019/05/23
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.