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HAI

Haivision Systems TSX:HAI Stock Report

Last Price

CA$5.23

Market Cap

CA$150.8m

7D

2.8%

1Y

-41.5%

Updated

16 Aug, 2022

Data

Company Financials +
HAI fundamental analysis
Snowflake Score
Valuation3/6
Future Growth4/6
Past Performance2/6
Financial Health3/6
Dividends0/6

HAI Stock Overview

Haivision Systems Inc. provides infrastructure solutions worldwide.

Haivision Systems Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Haivision Systems
Historical stock prices
Current Share PriceCA$5.23
52 Week HighCA$9.70
52 Week LowCA$4.63
Beta0
1 Month Change-0.76%
3 Month Change0.58%
1 Year Change-41.50%
3 Year Changen/a
5 Year Changen/a
Change since IPO-32.69%

Recent News & Updates

Shareholder Returns

HAICA CommunicationsCA Market
7D2.8%2.9%3.2%
1Y-41.5%13.0%2.1%

Return vs Industry: HAI underperformed the Canadian Communications industry which returned 11.7% over the past year.

Return vs Market: HAI underperformed the Canadian Market which returned 1% over the past year.

Price Volatility

Is HAI's price volatile compared to industry and market?
HAI volatility
HAI Average Weekly Movement8.2%
Communications Industry Average Movement8.3%
Market Average Movement10.6%
10% most volatile stocks in CA Market18.9%
10% least volatile stocks in CA Market4.3%

Stable Share Price: HAI is not significantly more volatile than the rest of Canadian stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: HAI's weekly volatility (8%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2004386Mirko Wichahttps://www.haivision.com

Haivision Systems Inc. provides infrastructure solutions worldwide. It offers Makito Series, a range of products designs to encode and decode 4K/UHD HEVC and H.264 video formats, and low latency end-to-end streaming over IP suitable for live and interactive video applications; KB Series, a software encoder and transcoder that delivers high-quality video streaming for resolutions up to 4K/UHD; Kraken, a software-based high-low latency tactical live video encoder and transcoder for video streams to traverse different networks and feed enterprise distribution networks; Haivision Media Platform, a software platform provides low latency and live video distribution; Haivision/CineMassive CineNet, a software platform for situational awareness and real-time decision making in mission-critical command and control environments; Haivision Element Management System, a cloud software-based solution which enables the streamlined management and monitoring of geographically distributed edge devices within a single web-based graphical user interface; Haivision SRT Gateway, a hybrid software-based solution for secure routing of live video streams across different types of IP networks; Haivision Hub, a cloud-based service for live and low latency media routing across the Microsoft Azure network; Haivision Connect, a cloud software as a service platform for delivering live and on-demand content to video portals and web sites; Haivision Connect DVR, a cloud-based service that connects multi-site ministries; and SRT Streaming Protocol that optimizes streaming performance across unpredictable networks. It also provides playing back and displaying solutions; and online streaming services.

Haivision Systems Fundamentals Summary

How do Haivision Systems's earnings and revenue compare to its market cap?
HAI fundamental statistics
Market CapCA$150.78m
Earnings (TTM)CA$1.22m
Revenue (TTM)CA$105.97m

123.4x

P/E Ratio

1.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
HAI income statement (TTM)
RevenueCA$105.97m
Cost of RevenueCA$30.26m
Gross ProfitCA$75.71m
Other ExpensesCA$74.49m
EarningsCA$1.22m

Last Reported Earnings

Apr 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.042
Gross Margin71.44%
Net Profit Margin1.15%
Debt/Equity Ratio20.4%

How did HAI perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is HAI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HAI?

Other financial metrics that can be useful for relative valuation.

HAI key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.6x
Enterprise Value/EBITDA-24.1x
PEG Ratio0.9x

Price to Earnings Ratio vs Peers

How does HAI's PE Ratio compare to its peers?

HAI PE Ratio vs Peers
The above table shows the PE ratio for HAI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average36x
QTRH Quarterhill
10.5x-114.2%CA$225.7m
CMI C-Com Satellite Systems
69.8xn/aCA$78.0m
VCM Vecima Networks
61.5x79.4%CA$408.2m
ENA Enablence Technologies
2.3xn/aCA$38.1m
HAI Haivision Systems
123.4x143.8%CA$150.8m

Price-To-Earnings vs Peers: HAI is expensive based on its Price-To-Earnings Ratio (123.4x) compared to the peer average (36x).


Price to Earnings Ratio vs Industry

How does HAI's PE Ratio compare vs other companies in the North American Communications Industry?

Price-To-Earnings vs Industry: HAI is expensive based on its Price-To-Earnings Ratio (123.4x) compared to the Canadian Communications industry average (37.6x)


Price to Earnings Ratio vs Fair Ratio

What is HAI's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HAI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio123.4x
Fair PE Ratio185.1x

Price-To-Earnings vs Fair Ratio: HAI is good value based on its Price-To-Earnings Ratio (123.4x) compared to the estimated Fair Price-To-Earnings Ratio (185.1x).


Share Price vs Fair Value

What is the Fair Price of HAI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HAI (CA$5.23) is trading below our estimate of fair value (CA$8.2)

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


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.


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Future Growth

How is Haivision Systems forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


143.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HAI's forecast earnings growth (143.8% per year) is above the savings rate (1.6%).

Earnings vs Market: HAI's earnings (143.8% per year) are forecast to grow faster than the Canadian market (8% per year).

High Growth Earnings: HAI's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: HAI's revenue (17.9% per year) is forecast to grow faster than the Canadian market (6.5% per year).

High Growth Revenue: HAI's revenue (17.9% 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 HAI's Return on Equity is forecast to be high in 3 years time


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Past Performance

How has Haivision Systems performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-33.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: HAI has a large one-off gain of CA$13.1M impacting its April 30 2022 financial results.

Growing Profit Margin: HAI became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: HAI has become profitable over the past 5 years, growing earnings by -33.2% per year.

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

Earnings vs Industry: HAI has become profitable in the last year, making it difficult to compare its past year earnings growth to the Communications industry (33.4%).


Return on Equity

High ROE: HAI's Return on Equity (1.4%) is considered low.


Discover strong past performing companies

Financial Health

How is Haivision Systems's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: HAI's short term assets (CA$60.2M) exceed its short term liabilities (CA$41.2M).

Long Term Liabilities: HAI's short term assets (CA$60.2M) exceed its long term liabilities (CA$14.7M).


Debt to Equity History and Analysis

Debt Level: HAI's net debt to equity ratio (6.3%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if HAI's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: HAI's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if HAI's interest payments on its debt are well covered by EBIT.


Balance Sheet


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Dividend

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

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

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

High Dividend: Unable to evaluate HAI's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if HAI's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if HAI's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as HAI has not reported any payouts.


Discover strong dividend paying companies

Management

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

2.6yrs

Average management tenure


CEO

Mirko Wicha

18.58yrs

Tenure

CA$2,412,264

Compensation

Mr. Miroslav Wicha, also known as Mirko serves as Chairman of the Board and Chief Executive Officer of HaiVision Systems Inc. since 2004 and also serves as its President. Mr. Wicha has many years of execu...


CEO Compensation Analysis

Compensation vs Market: Mirko's total compensation ($USD1.87M) is above average for companies of similar size in the Canadian market ($USD185.86K).

Compensation vs Earnings: Insufficient data to compare Mirko's compensation with company performance.


Leadership Team

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


Board Members

Experienced Board: HAI's board of directors are considered experienced (3.3 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Haivision Systems Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Haivision Systems Inc.
  • Ticker: HAI
  • Exchange: TSX
  • Founded: 2004
  • Industry: Communications Equipment
  • Sector: Tech
  • Implied Market Cap: CA$150.779m
  • Shares outstanding: 28.83m
  • Website: https://www.haivision.com

Number of Employees


Location

  • Haivision Systems Inc.
  • 2600 Alfred-Nobel Boulevard
  • 5th Floor
  • Montreal
  • Quebec
  • H4S 0A9
  • Canada

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/16 00:00
End of Day Share Price2022/08/16 00:00
Earnings2022/04/30
Annual Earnings2021/10/31


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.