Zecotek Photonics Inc., a photonics technology company, develops various photonics technologies and products for commercial and research applications in medical, bio-science, high-energy physics, pharmaceutical research, material processing, engineering and industrial design, and multi-media markets.
The last earnings update was 116 days ago.
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
In this section, we usually try to help investors determine whether Zecotek Photonics is trading at an attractive price based on the cash flow it is expected to produce in the future. But as Zecotek Photonics has not provided consistent financial data, and the stock also has no analyst forecast or coverage, its intrinsic value cannot be reliably calculated by extrapolating past data or using analyst consensus cash flow predictions.
This is quite a rare situation as 89% of companies covered by Simply Wall St do have a valuation analysis. You can see them here.
Show me the analysis anyway
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
It is not possible to calculate the future cash flow value for
Zecotek Photonics. This is due to cash flow or dividend data being
unavailable. The share price is
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
is considered below, and whether this is a fair price.
Price based on past earnings
Zecotek Photonics's earnings available for a low price, and how does
this compare to other companies in the same industry?
Zecotek Photonics is loss making, we can't compare it's value to the Asia Medical Equipment industry average.
Zecotek Photonics is loss making, we can't compare the value of its earnings to the CA market.
Price based on expected Growth
Zecotek Photonics's expected growth come at a high price?
Unable to calculate PEG ratio for Zecotek Photonics, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Zecotek Photonics has negative assets, we can't compare the value of its assets to the CA Medical Equipment industry average.
Take a look at our analysis of ZMS’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
When valuing a company like this, investors focus more on how they perceive the size of the opportunity, the company's ability to deliver and scale, and the strength of the team. While we are not analysing this type of data at the moment, if you don’t know where to start, we recommend reading through Zecotek Photonics's regulatory filings and announcements.
Zecotek Photonics is covered by less than 3 analysts.
The future performance of a company is measured in the same way as past
performance, by looking at estimated
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
Expected annual growth in revenue.
Earnings growth vs Low Risk Savings
expected to grow at an
Unable to compare Zecotek Photonics's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
Unable to compare Zecotek Photonics's earnings growth to the CA market average as no estimate data is available.
Zecotek Photonics's revenue growth is expected to exceed the CA market average.
Annual Growth Rates Comparison
Analysts growth expectations
High Growth Checks
Unable to determine if Zecotek Photonics is high growth as no earnings estimate data is available.
Zecotek Photonics's revenue is expected to grow significantly at over 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.
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 Zecotek Photonics will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Zecotek Photonics's performance over the past 5 years by checking for:
Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the
industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the
past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
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.
has a total score of
0/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
A company's financial position is much like your own financial position,
it includes everything you own
The boxes below represent the relative size of what makes up
Zecotek Photonics's finances.
The net worth of a company is the difference between its assets and liabilities.
Zecotek Photonics's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
Zecotek Photonics has no long term commitments.
This treemap shows a more detailed breakdown of
Zecotek Photonics'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
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Low level of unsold assets.
Zecotek Photonics has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
Nearly all companies have debt. Debt in itself isn’t
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.
Zecotek Photonics has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
Irrelevant to check if Zecotek Photonics's debt level has increased considering it has negative shareholder equity.
CASH RUNWAY ANALYSIS
For companies that have on average been loss making in the past we analyse their runway based on operating expenses, which includes recurring G&A and R&D. Analysis based on the most recent financials.
Zecotek Photonics's cash level is insufficient to cover its current level of operating expenses for the upcoming year.
Zecotek Photonics's cash level is insufficient to cover its operating expenses for the upcoming year, if it continues to reduce at historical rates of -0.7% each year.
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.
TENURE AS CEO
Dr. A. Faouzi Zerrouk is the Founder of Zecotek Photonics Inc and has been its Chairman, President and Chief Executive Officer since December 31, 2004. Dr. Zerrouk Principal Founder of Zecotek Holdings Ltd., where he served as President and Head of Research from 2002 to 2004 and Chief Executive Officer from 2004 to 2005. At the Institute of General Physics, Moscow, Dr. Zerrouk worked with the group of the Nobel Laureate Academician Prokhorov where he co-developed RGB and UV micro-chipset lasers with large market applications. He also established commercially driven private R&D labs based in Russia in the fields of crystals & lasers, holographic, 3D displays, new materials, nanostructures, optical networks and communication subsystems. In 1989, he established the first foreign partnered, private, business oriented photonics research Lab in the Ex-Soviet Union (Novosibirsk, Siberia). Working closely with the Ministry of Science and Technology Dr. Zerrouk served as technology transfer advisor during the transition period to the Russian federation, providing Research and Development strategies for the new economy with prominent members of the Russian Academy of Science. He serves as the Chairman of Scientific Advisory Board at Zecotek Photonics Inc. Dr. Zerrouk served as the Executive Chairman of Zecotek Holdings Ltd. from 2002 to 2004. He is the co-owner at Zecotek Holdings Singapore Pte. Ltd. He has been a Director of Zecotek Photonics Inc since December 31, 2004. From 1987 to 1993, Dr. Zerrouk held research and faculty positions at various centers including the Clarendon Laboratory, University of Oxford, England, (Atomic & Laser physics), Siberian Academy of Sciences (TOKAMAK and Laser fusion research), the Institute of Thermal Processes, Moscow (high-power gas dynamic lasers). Dr. Zerrouk received his PhD in Theoretical Physics in 1987 from the University of Sussex, England.
A.'s compensation has been consistent with company performance over the past year.
A.'s compensation is higher than average for a company of this size and profit level.
Management Team Tenure
Average tenure of the
management team in years:
The average tenure for the Zecotek Photonics management team is over 5 years, this suggests they are a seasoned and experienced team.
CFO and Executive VP of Finance & Investor Relations
Chief Operations Officer
Senior Vice President of Technology
Chief Scientist of Medical Imaging Division
General Manager of Display Division
General Manager of the Laser Division
Business Development Director of China
Board of Directors Tenure
Average tenure of the
board of directors in years:
The average tenure for the Zecotek Photonics board of directors is over 10 years, this suggests they are a seasoned and experienced board.
How Should You Think About Zecotek Photonics Inc's (CVE:ZMS) Risks?
A widely-used metric to measure a stock's market risk is beta, and the broad market index represents a beta value of one. … ZMS’s beta indicates it is a stock that investors may find valuable if they want to reduce the overall market risk exposure of their stock portfolio. … As a result, the company may be less volatile relative to broad market movements, compared to a company of similar size but higher proportion of fixed assets.
What You Must Know About Zecotek Photonics Inc's (CVE:ZMS) Major Investors
In this article, I'm going to take a look at Zecotek Photonics Inc’s (TSXV:ZMS) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … View our latest analysis for Zecotek Photonics TSXV:ZMS Ownership_summary Apr 11th 18 Insider Ownership I find insiders are another important group of stakeholders, who are directly involved in making key decisions related to the use of capital. … ZMS insiders are also influential stakeholders with 7.75% ownership in the company.
Does Zecotek Photonics Inc (CVE:ZMS) Have Enough Money Left To Grow?
Cash is crucial to run a business, and if a company burns through its reserves fast, it will need to come back to market for additional capital raising. … The measure of how fast Zecotek Photonics goes through its cash reserves over time is called the cash burn rate. … But, if Zecotek Photonics continues to ramp up its opex at this rate, given how much money it currently has in the bank, it will actually need to come to market again within the next year.
Is Zecotek Photonics Inc's (CVE:ZMS) CEO Incentives Align With Yours?
Earnings is a powerful indication of ZMS's ability to invest shareholders' funds and generate returns. … Therefore I will use earnings as a proxy of Zerrouk's performance in the past year? … Normally I'd use market cap and profit as factors determining performance, however, ZMS's negative earnings reduces the effectiveness of this method.
Does Zecotek Photonics Inc's (CVE:ZMS) Earnings Growth Make It An Outperformer?
Below, I will assess Zecotek Photonics Inc's (TSXV:ZMS) track record on a high level, to give you some insight into how the company has been performing against its historical trend and its industry peers. … See our latest analysis for Zecotek Photonics Did ZMS beat its long-term earnings growth trend and its industry? … For Zecotek Photonics, its most recent earnings (trailing twelve month) is -CA$2.73M, which, in comparison to last year’s figure, has become less negative.
What You Must Know About Zecotek Photonics Inc's (CVE:ZMS) Risks
A popular measure of market risk for a stock is its beta, and the market as a whole represents a beta value of one. … Based on this beta value, ZMS appears to be a stock that an investor with a high-beta portfolio would look for to reduce risk exposure to the market. … ZMS, with its market capitalisation of CA$42.91M, is a small-cap stock, which generally have higher beta than similar companies of larger size.
Should You Be Concerned About Zecotek Photonics Inc's (CVE:ZMS) Investors?
Today, I will be analyzing Zecotek Photonics Inc’s (TSXV:ZMS) recent ownership structure, an important but not-so-popular subject among individual investors. … View our latest analysis for Zecotek Photonics TSXV:ZMS Ownership_summary Dec 13th 17 Insider Ownership I find insiders are another important group of stakeholders, who are directly involved in making key decisions related to the use of capital. … This level of ownership gives retail investors the power to sway key policy decisions such as board composition, executive compensation, and potential acquisitions.
Does Zecotek Photonics Inc's (TSXV:ZMS) Past Performance Indicate A Stronger Future?
After looking at Zecotek Photonics Inc's (TSXV:ZMS) latest earnings update (31 July 2017), I found it helpful to revisit the company's performance in the past couple of years and compare this against the latest numbers. … For the most up-to-date info, I use the ‘latest twelve-month’ data, which either annualizes the most recent 6-month earnings update, or in some cases, the most recent annual report is already the latest available financial data. … For Zecotek Photonics, the most recent twelve-month earnings -CA$3.4M, which, relative to last year’s level, has become less negative.
Does Zecotek Photonics Inc (TSXV:ZMS) Have Enough Money Left To Grow?
The single most important question to ask when you’re investing in a loss-making company is – will they need to raise cash again, and if so, when? … Not surprisingly, if ZMS continues to ramp up expenditure at this rate for the upcoming year, it’ll likely need to come to market within the next few months, given the its current level of cash reserves. … The cash burn analysis result indicates a cash constraint for ZMS, due to its high opex growth and its level of cash reserves.
Zecotek Photonics Inc., a photonics technology company, develops various photonics technologies and products for commercial and research applications in medical, bio-science, high-energy physics, pharmaceutical research, material processing, engineering and industrial design, and multi-media markets. The company operates through three divisions: Imaging Systems, Optronics Systems, and 3D Display Systems. Its primary imaging technologies include lutetium fine silicate (LFS) scintillation crystals; solid-state micro-pixel avalanche photo diode (MAPD) photo detectors and transistors; and integrated detector modules. The company also develops 3D display technologies, such as glasses-free 3D displays; 3D auto-stereoscopic displays; and 3D printers for prototyping and distributed manufacturing with specific applications in electronics, aerospace, automotive, mechanical, and healthcare industries. Zecotek Photonics Inc. operates in Asia, Europe, and North America. The company was formerly known as Zecotek Medical Systems Inc. and changed its name to Zecotek Photonics Inc. in November 2007. The company was founded in 2004 and is headquartered in Richmond, Canada.
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