Quarterhill
Quarterhill Inc. focuses on acquisition and management of technology companies that provides products and services worldwide. The last earnings update was 50 days ago. More info.
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QTRH Share Price and Events
7 Day Returns
1 Year Returns
QTRH Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Quarterhill (QTRH) | -1.4% | -5.2% | 13.3% | -26% | -48.6% | -56.6% |
| CA Communications | -1.2% | 3.2% | 2.7% | -8.8% | -2.1% | -11.2% |
| CA Market | 1.2% | 2.4% | 7.9% | 4.1% | 15.3% | 7.4% |
1 Year Return vs Industry and Market
- QTRH underperformed the Communications industry which returned -8.8% over the past year.
- QTRH underperformed the Market in Canada which returned 4.1% over the past year.
QTRH Value
Is Quarterhill 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
Quarterhill
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Quarterhill.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 3 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 8.7% |
| 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.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year CA Govt Bond Rate | 1.9% |
| Equity Risk Premium | S&P Global | 6% |
| Communications Unlevered Beta | Simply Wall St/ S&P Global | 1.17 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.167 (1 + (1- 26.5%) (2.39%)) |
1.125 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.13 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.125 * 5.96%) |
8.65% |
Discounted Cash Flow Calculation for TSX:QTRH using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Quarterhill 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.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 8.65%) |
|
|---|---|---|---|
| 2019 | 30.00 | Analyst x1 | 27.61 |
| 2020 | 26.40 | Analyst x1 | 22.36 |
| 2021 | 24.20 | Est @ -8.33% | 18.87 |
| 2022 | 22.93 | Est @ -5.25% | 16.45 |
| 2023 | 22.22 | Est @ -3.09% | 14.67 |
| 2024 | 21.87 | Est @ -1.58% | 13.29 |
| 2025 | 21.76 | Est @ -0.52% | 12.17 |
| 2026 | 21.80 | Est @ 0.22% | 11.22 |
| 2027 | 21.96 | Est @ 0.74% | 10.41 |
| 2028 | 22.21 | Est @ 1.1% | 9.68 |
| Present value of next 10 years cash flows | $156.74 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $22.21 × (1 + 1.95%) ÷ (8.65% – 1.95%) |
$337.54 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $337.54 ÷ (1 + 8.65%)10 |
$147.19 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $156.74 + $147.19 |
$303.93 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $303.93 / 118.82 |
$2.56 |
| Calculation | Result | |
|---|---|---|
| Exchange Rate | USD/CAD
(Reporting currency to currency of TSX:QTRH) |
1.339 |
| Value per Share (CAD) |
= Value per Share in USD x Exchange Rate (USD/CAD)
= $2.56 x 1.339 |
CA$3.43 |
| Value per share (CAD) | From above. | CA$3.43 |
| Current discount | Discount to share price of
CA$1.45
= -1 x (CA$1.45 - CA$3.43) / CA$3.43 |
57.7% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Quarterhill's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Quarterhill's share price is below the future cash flow value, and 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 Quarterhill's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Quarterhill's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in USD | $-0.41 |
| TSX:QTRH Share Price ** | TSX (2019-04-18) in CAD | CA$1.45 |
| TSX:QTRH Share Price converted to USD reporting currency | Exchange rate (CAD/ USD) 0.747 | $1.08 |
| Canada Communications Industry PE Ratio | Median Figure of 6 Publicly-Listed Communications Companies | 56.14x |
| Canada Market PE Ratio | Median Figure of 556 Publicly-Listed Companies | 15.29x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Quarterhill.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = TSX:QTRH Share Price ÷ EPS (both in USD) = 1.08 ÷ -0.41 |
-2.62x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Quarterhill is loss making, we can't compare its value to the CA Communications industry average.
- Quarterhill is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does
Quarterhill's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | -2.62x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts |
138.3%per year |
| North America Communications Industry PEG Ratio | Median Figure of 23 Publicly-Listed Communications Companies | 1.33x |
| Canada Market PEG Ratio | Median Figure of 257 Publicly-Listed Companies | 1.21x |
*Line of best fit is calculated by linear regression .
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to calculate PEG ratio for Quarterhill, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Quarterhill's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in USD | $1.72 |
| TSX:QTRH Share Price * | TSX (2019-04-18) in CAD | CA$1.45 |
| TSX:QTRH Share Price converted to USD reporting currency | Exchange rate (CAD/ USD) 0.747 | $1.08 |
| Canada Communications Industry PB Ratio | Median Figure of 16 Publicly-Listed Communications Companies | 1.96x |
| Canada Market PB Ratio | Median Figure of 2,375 Publicly-Listed Companies | 1.52x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = TSX:QTRH Share Price ÷ Book Value per Share (both in USD) = 1.08 ÷ 1.72 |
0.63x |
* Primary Listing of Quarterhill.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Quarterhill is good value based on assets compared to the CA Communications industry average.
Value checks
We assess Quarterhill's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Communications industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Communications industry average (and greater than 0)? (1 check) Quarterhill has a total score of 3/6, 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.
QTRH Future Performance
How is Quarterhill expected to perform in the next 1 to 3 years based on estimates from 3 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!
Earnings growth vs Low Risk Savings
- Quarterhill's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
- Quarterhill's earnings growth is expected to exceed the Canada market average.
- Quarterhill's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| TSX:QTRH Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts | 138.3% |
| TSX:QTRH Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts | 15.7% |
| Canada Communications Industry Earnings Growth Rate | Market Cap Weighted Average | 100.8% |
| Canada Communications Industry Revenue Growth Rate | Market Cap Weighted Average | 18% |
| Canada Market Earnings Growth Rate | Market Cap Weighted Average | 18.2% |
| Canada Market Revenue Growth Rate | Market Cap Weighted Average | 7.1% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 3 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2020-12-31 | 105 | 28 | -1 | 2 |
| 2019-12-31 | 111 | 31 | 2 | 3 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 77 | -8 | -49 |
| 2018-09-30 | 75 | 31 | -42 |
| 2018-06-30 | 141 | 50 | -6 |
| 2018-03-31 | 139 | 55 | 5 |
| 2017-12-31 | 135 | 70 | 10 |
| 2017-09-30 | 142 | 28 | 31 |
| 2017-06-30 | 73 | 25 | 6 |
| 2017-03-31 | 70 | 30 | -1 |
| 2016-12-31 | 93 | 37 | 11 |
| 2016-09-30 | 89 | 40 | 5 |
| 2016-06-30 | 94 | 57 | 6 |
| 2016-03-31 | 113 | 56 | 20 |
*GAAP earnings excluding extraordinary items.
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 3 Analyst Estimates (S&P Global) | See Below |
All data from Quarterhill Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2020-12-31 | -0.01 | -0.01 | -0.01 | 1.00 |
| 2019-12-31 | 0.02 | 0.02 | 0.02 | 1.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2018-12-31 | -0.41 |
| 2018-09-30 | -0.35 |
| 2018-06-30 | -0.05 |
| 2018-03-31 | 0.05 |
| 2017-12-31 | 0.09 |
| 2017-09-30 | 0.26 |
| 2017-06-30 | 0.05 |
| 2017-03-31 | -0.01 |
| 2016-12-31 | 0.09 |
| 2016-09-30 | 0.05 |
| 2016-06-30 | 0.05 |
| 2016-03-31 | 0.16 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Quarterhill's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Quarterhill 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.
QTRH Past Performance
How has Quarterhill 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
Past Earnings growth analysis
- Quarterhill does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
- Unable to compare Quarterhill's 1-year earnings growth to the 5-year average as it is not currently profitable.
- Unable to compare Quarterhill's 1-year growth to the CA Communications industry average as it is not currently profitable.
Earnings and Revenue History
All data from Quarterhill Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 77.40 | -49.12 | 26.99 | 3.57 |
| 2018-09-30 | 74.61 | -41.56 | 27.77 | 3.79 |
| 2018-06-30 | 140.93 | -6.06 | 27.40 | 4.38 |
| 2018-03-31 | 139.14 | 5.41 | 24.58 | 4.19 |
| 2017-12-31 | 134.71 | 10.23 | 19.93 | 3.26 |
| 2017-09-30 | 142.27 | 31.22 | 15.52 | 2.16 |
| 2017-06-30 | 72.94 | 5.66 | 10.82 | 0.67 |
| 2017-03-31 | 70.29 | -1.10 | 9.14 | |
| 2016-12-31 | 92.88 | 11.05 | 9.39 | |
| 2016-09-30 | 88.71 | 5.43 | 8.57 | 0.41 |
| 2016-06-30 | 93.58 | 5.60 | 8.19 | 1.00 |
| 2016-03-31 | 112.61 | 19.71 | 7.86 | 1.71 |
| 2015-12-31 | 102.86 | 10.04 | 7.46 | 2.43 |
| 2015-09-30 | 98.94 | 7.55 | 8.01 | 2.59 |
| 2015-06-30 | 102.08 | 6.34 | 9.29 | 2.58 |
| 2015-03-31 | 92.74 | 0.98 | 9.88 | 2.53 |
| 2014-12-31 | 98.31 | 9.71 | 10.57 | 2.42 |
| 2014-09-30 | 105.38 | 11.63 | 11.98 | 2.51 |
| 2014-06-30 | 101.53 | 5.54 | 12.43 | 2.63 |
| 2014-03-31 | 95.82 | -7.69 | 13.24 | 2.66 |
| 2013-12-31 | 88.21 | -18.09 | 13.07 | 2.86 |
| 2013-09-30 | 80.22 | -22.64 | 12.03 | 4.58 |
| 2013-06-30 | 80.79 | -14.03 | 12.17 | 5.76 |
| 2013-03-31 | 81.64 | -6.54 | 11.69 | 7.05 |
| 2012-12-31 | 87.96 | -14.52 | 12.09 | 9.01 |
| 2012-09-30 | 91.00 | -18.02 | 12.71 | 9.15 |
| 2012-06-30 | 97.53 | -12.86 | 13.32 | 9.44 |
*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.
- It is difficult to establish if Quarterhill has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
- It is difficult to establish if Quarterhill has efficiently used its assets last year compared to the CA Communications industry average (Return on Assets) as it is loss-making.
- It is difficult to establish if Quarterhill improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
Past performance checks
We assess Quarterhill'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 Communications 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)
Quarterhill 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.
Full details on the Past part of the Simply Wall St company analysis model.
QTRH Health
How is Quarterhill'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 Quarterhill's finances.
The net worth of a company is the difference between its assets and liabilities.
- Quarterhill is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Quarterhill's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- Debt is covered by short term assets, assets are 29.5x 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.
All data from Quarterhill Company Filings, last reported 3 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 204.87 | 3.07 | 65.07 |
| 2018-09-30 | 227.75 | 6.10 | 58.90 |
| 2018-06-30 | 237.64 | 6.50 | 69.59 |
| 2018-03-31 | 247.91 | 4.75 | 71.62 |
| 2017-12-31 | 254.53 | 8.17 | 83.05 |
| 2017-09-30 | 267.67 | 10.12 | 37.06 |
| 2017-06-30 | 239.15 | 24.87 | 45.51 |
| 2017-03-31 | 235.81 | 21.84 | 110.11 |
| 2016-12-31 | 244.14 | 23.15 | 107.71 |
| 2016-09-30 | 236.56 | 24.39 | 103.22 |
| 2016-06-30 | 238.09 | 25.61 | 103.72 |
| 2016-03-31 | 243.07 | 26.80 | 101.88 |
| 2015-12-31 | 241.38 | 27.98 | 94.55 |
| 2015-09-30 | 239.33 | 31.27 | 95.64 |
| 2015-06-30 | 243.15 | 34.52 | 114.08 |
| 2015-03-31 | 237.11 | 39.72 | 118.45 |
| 2014-12-31 | 245.76 | 44.88 | 127.65 |
| 2014-09-30 | 250.13 | 50.68 | 126.10 |
| 2014-06-30 | 255.81 | 68.37 | 140.09 |
| 2014-03-31 | 253.54 | 47.74 | 142.39 |
| 2013-12-31 | 253.11 | 52.03 | 131.85 |
| 2013-09-30 | 255.40 | 52.18 | 142.27 |
| 2013-06-30 | 268.45 | 30.38 | 159.29 |
| 2013-03-31 | 281.76 | 4.59 | 167.17 |
| 2012-12-31 | 292.26 | 5.22 | 176.86 |
| 2012-09-30 | 297.08 | 5.84 | 173.17 |
| 2012-06-30 | 298.66 | 6.45 | 191.13 |
- Quarterhill's level of debt (1.5%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (20.5% vs 1.5% today).
Financial health checks
We assess Quarterhill's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Quarterhill has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
QTRH Dividends
What is Quarterhill'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
If you bought
CA$2,000 of
Quarterhill
shares you are expected to receive
CA$69
in your first year as a dividend.
Dividend Amount
- Quarterhill's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.04%).
- Quarterhill's dividend is below the markets top 25% of dividend payers in Canada (5.56%).
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.
| 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 3 Analyst Estimates (S&P Global) | See Below |
| North America Communications Industry Average Dividend Yield | Market Cap Weighted Average of 18 Stocks | 2.3% |
| Canada Market Average Dividend Yield | Market Cap Weighted Average of 331 Stocks | 3.4% |
| Canada Minimum Threshold Dividend Yield | 10th Percentile | 1.2% |
| Canada Bottom 25% Dividend Yield | 25th Percentile | 2% |
| Canada Top 25% Dividend Yield | 75th Percentile | 5.6% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2020-12-31 | ||
| 2019-12-31 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-28 | 0.037 | 3.403 |
| 2018-11-08 | 0.037 | 3.736 |
| 2018-08-09 | 0.038 | 2.829 |
| 2018-05-10 | 0.038 | 3.238 |
| 2018-03-01 | 0.038 | 2.569 |
| 2017-11-09 | 0.039 | 2.268 |
| 2017-08-10 | 0.039 | 2.680 |
| 2017-05-04 | 0.036 | 2.648 |
| 2017-02-10 | 0.036 | 1.984 |
| 2017-02-09 | 0.038 | 2.208 |
| 2016-11-03 | 0.037 | 2.472 |
| 2016-02-08 | 0.093 | 5.107 |
| 2016-02-04 | 0.093 | 7.983 |
| 2015-11-05 | 0.034 | 3.289 |
| 2015-11-04 | 0.038 | 2.976 |
| 2015-07-30 | 0.157 | 8.235 |
| 2015-04-29 | 0.161 | 7.570 |
| 2015-01-29 | 0.164 | 6.550 |
| 2014-10-30 | 0.158 | 5.455 |
| 2014-10-29 | 0.179 | 5.674 |
| 2014-07-30 | 0.177 | 5.234 |
| 2014-04-30 | 0.146 | 4.733 |
| 2014-01-30 | 0.142 | 4.782 |
| 2013-12-05 | 0.143 | 4.640 |
| 2013-08-08 | 0.150 | 4.463 |
| 2013-05-08 | 0.151 | 3.795 |
| 2013-03-08 | 0.156 | 3.886 |
| 2013-03-06 | 0.155 | 3.487 |
| 2012-11-06 | 0.136 | 3.002 |
| 2012-08-02 | 0.139 | 2.661 |
| 2012-05-09 | 0.115 | 2.395 |
| 2012-03-07 | 0.120 | 2.249 |
| 2011-11-09 | 0.095 | 1.797 |
| 2011-08-04 | 0.094 | 1.512 |
| 2011-06-06 | 0.101 | 1.280 |
| 2011-03-02 | 0.101 | 1.625 |
| 2010-11-09 | 0.049 | 0.930 |
| 2010-08-10 | 0.047 | 1.291 |
| 2010-05-07 | 0.046 | 1.550 |
| 2010-03-03 | 0.048 | 1.694 |
| 2009-12-10 | 0.047 | 1.825 |
| 2009-09-03 | 0.045 | 2.273 |
| 2009-06-04 | 0.043 | 2.278 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
- Dividends per share have fallen over the past 10 years.
Income/ dividend checks
We assess Quarterhill's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Quarterhill afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Quarterhill has a total score of 1/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
QTRH Management
CEO
| AGE | 47 |
| TENURE AS CEO | 1.3 years |
CEO Bio
Mr. Douglas Parker, also known as Doug, has been the President and Chief Executive Officer of Quarterhill Inc. since January 1, 2018. He has been Chief Executive Officer of New WiLAN since April 2017. He served as President, Chief Executive Officer & Chief Legal Officer of Old WiLAN since June 2006 until April 2017. Prior to Quarterhill, Mr. Parker was Senior Vice President, Corporate Development of Open Text Corporation ("Open Text"), a Canadian based US $2 billion global leader in enterprise information management. In this role Mr. Parker was a member of the Executive Leadership Team and managed a seasoned group of corporate development professionals with operational responsibility for the company's corporate development, M&A, integration and venture capital activities. Doug's professional experience includes leading or involvement in dozens of company acquisitions. During his tenure as head of corporate development, Open Text deployed approximately $2.5 billion into acquisitions, onboarded over 3,500 employees and added significant accretive revenues. Prior to this position, Mr. Parker held senior roles as General Counsel and Assistant Secretary of Open Text and Associate General Counsel of Nortel, where he was responsible for all legal aspects of global M&A. His Areas of Expertise: Mergers & Acquisitions; Leadership; Legal; Corporate Governance; General Management; International Business. Mr. Parker holds an MBA (Executive) from the Richard Ivey School of Business, the University of Western Ontario, an LLB from Queen's Law School and a BA from Trinity College, the University of Toronto.
CEO Compensation
- Insufficient data for Doug to compare compensation growth.
- Insufficient data for Doug to establish whether their remuneration is reasonable compared to companies of similar size in Canada.
Management Team Tenure
Average tenure of the Quarterhill management team in years:
- The tenure for the Quarterhill management team is about average.
Management Team
Michael McEwan
Chief Financial Officer
$959K
11.2 yrs
Michael Vladescu
President & CEO of New WiLAN
$710K
0.2 yrs
Doug Parker
President
47
1.3 yrs
Prashant Watchmaker
Senior VP & General Counsel
$412K
4.1 yrs
John Vujicic
President & CEO of VIZIYA
13.3 yrs
Randy Hanson
President & CEO of International Road Dynamics
0.8 yrs
Board of Directors Tenure
Average tenure and age of the Quarterhill board of directors in years:
- The tenure for the Quarterhill board of directors is about average.
Board of Directors
John Gillberry
Chairman
$106K
61
Doug Parker
President
47
1.3 yrs
Jim Skippen
Vice Chairman of the Board
$1M
55
Rick Shorkey
Independent Director
$100K
71
12 yrs
W. McCarten
Independent Director
$156K
73
8.8 yrs
Roxanne Anderson
Independent Director
$84K
57
3.9 yrs
Ron Laurie
Independent Director
$93K
76
3.9 yrs
Ian McKinnon
Director
$60K
64
2.3 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by Quarterhill insiders in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (CA$) | Value (CA$) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 27. Mar 19 | Buy | Roxanne Anderson | Individual | 04. Mar 19 | 04. Mar 19 | 75,000 | CA$1.36 | CA$102,000 | ||
| 12. Mar 19 | Buy | James Skippen | Individual | 12. Mar 19 | 12. Mar 19 | 5,000 | CA$1.50 | CA$7,500 | ||
| 11. Mar 19 | Buy | James Skippen | Individual | 11. Mar 19 | 11. Mar 19 | 8,000 | CA$1.44 | CA$11,520 | ||
| 06. Mar 19 | Buy | Douglas Parker | Individual | 06. Mar 19 | 06. Mar 19 | 7,000 | CA$1.40 | CA$9,800 | ||
| 06. Mar 19 | Buy | James Skippen | Individual | 06. Mar 19 | 06. Mar 19 | 12,600 | CA$1.41 | CA$17,734 | ||
| 04. Mar 19 | Buy | James Skippen | Individual | 04. Mar 19 | 04. Mar 19 | 13,000 | CA$1.36 | CA$17,610 | ||
| 17. Aug 18 | Buy | Douglas Parker | Individual | 16. Aug 18 | 16. Aug 18 | 28,000 | CA$1.81 | CA$50,415 | ||
| 14. May 18 | Buy | Douglas Parker | Individual | 14. May 18 | 14. May 18 | 28,000 | CA$1.82 | CA$50,960 | ||
Management checks
We assess Quarterhill's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Quarterhill 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.
QTRH News
Simply Wall St News
The Quarterhill (TSE:QTRH) Share Price Is Down 57% So Some Shareholders Are Wishing They Sold
Quarterhill isn't a profitable company, so it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). … In the last half decade, Quarterhill saw its revenue increase by 2.4% per year. … We'd want to see proof that future revenue growth is likely to be significantly stronger before getting too interested in Quarterhill.
Simply Wall St - – Full articleHow Many Insiders Bought Quarterhill Inc. (TSE:QTRH) Shares?
Unfortunately, there are also plenty of examples of share prices declining precipitously after insiders have sold shares. … (TSE:QTRH), you may well want to know whether insiders have been buying or selling. … But logic dictates you should pay some attention to whether insiders are buying or selling shares.
Simply Wall St - – Full articleCould The Quarterhill Inc. (TSE:QTRH) Ownership Structure Tell Us Something Useful?
Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … Companies that have been privatized tend to have low insider ownership. … institutions own shares in the company.
Simply Wall St - – Full articleHow Quarterhill Inc (TSE:QTRH) Can Impact Your Portfolio Volatility
Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market. … In comparison a stock with a beta of over one tends to be move in a similar direction to the market in the long term, but with greater changes in price.
Simply Wall St - – Full articleIs Quarterhill Inc (TSE:QTRH) A Smart Choice For Dividend Investors?
Historically, Quarterhill Inc (TSE:QTRH) has been paying a dividend to shareholders. … Let's dig deeper into whether Quarterhill should have a place in your portfolio. … See our latest analysis for Quarterhill
Simply Wall St - – Full articleWhat Do You Get For Owning Quarterhill Inc (TSE:QTRH)?
Owing to this, it is important that the underlying business is producing a sufficient amount of income from the capital invested by stockholders. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … To understand Quarterhill’s capital returns we will look at a useful metric called return on capital employed.
Simply Wall St - – Full articleWith An ROE Of 2.18%, Can Quarterhill Inc (TSE:QTRH) Catch Up To The Industry?
and want to begin learning the link between company’s fundamentals and stock market performance. … But what is more interesting is whether QTRH can sustain or improve on this level of return. … Metrics such as financial leverage can impact the level of ROE which in turn can affect the sustainability of QTRH's returns.
Simply Wall St - – Full articleIs Quarterhill Inc (TSE:QTRH) A Strong Dividend Stock?
In the past 9 years Quarterhill Inc (TSE:QTRH) has returned an average of 3.00% per year to investors in the form of dividend payouts. … Does Quarterhill tick all the boxes of a great dividend stock? … Check out our latest analysis for Quarterhill
Simply Wall St - – Full articleIs There Now An Opportunity In Quarterhill Inc (TSE:QTRH)?
saw significant share price volatility over the past couple of months on the TSX, rising to the highs of CA$2.05 and falling to the lows of CA$1.52. … A question to answer is whether Quarterhill's current trading price of CA$1.52 reflective of the actual value of the? … Let’s take a look at Quarterhill’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change
Simply Wall St - – Full articleQuarterhill Inc (TSE:QTRH): What You Have To Know Before Buying For The Upcoming Dividend
Investors who want to cash in on Quarterhill Inc's (TSE:QTRH) upcoming dividend of $0.013 per share have only 5 days left to buy the shares before its ex-dividend date, 14 June 2018, in time for dividends payable on the 06 July 2018. … Well, keep on reading because today, I'm going to look at the latest data and analyze the stock and its dividend property in further detail. … How I analyze a dividend stock?
Simply Wall St - – Full articleQTRH Company Info
Description
Quarterhill Inc. focuses on acquisition and management of technology companies that provides products and services worldwide. Its Licensing segment includes patents relating to 3D television, semiconductor manufacturing and packaging, medical stent, intelligent personal assistant, enhanced image processing, streaming video, non-volatile flash and other memory, semiconductor clocking, LED lighting, and various other technologies; automotive headlight assemblies, phased loop semiconductor licensing, microcontrollers applicable to safety-critical aerospace, computer gaming, CMOS image sensors, building automation, and smart meter monitoring; and medical, industrial, and automotive applications. The company's Intelligent Systems segment provides integrated systems and solutions, such as automated truck weigh stations; toll road systems and equipment; traffic management and safety systems; VectorSense, a tire sensor suite; Vehicle Information-In-Motion, a traffic intelligence system; integrated traffic control systems; permanent and portable slow speed weigh-in-motion systems; portable wheel load scales; traffic data collection products; vehicle and axle detection equipment; and automated vehicle identification, and other hardware and software products for the intelligent transportation systems industry. This segment serves through direct salespeople, distributors, agents, other contractors, and systems integrators. Its Enterprise Software segment provides enterprise asset management software solutions to asset intensive industries through its salesforce over the Internet. Its offerings include WorkAlign, a product suite, which consists of integrated products, such as scheduler, IIoT, mobile for EAM, maintenance budgeting, warranty tracker, and analytics; and consulting services. The company was formerly known as Wi-LAN Inc. and changed its name to Quarterhill Inc. in June 2017. Quarterhill Inc. was incorporated in 1992 and is headquartered in Kitchener, Canada.
Details
| Name: | Quarterhill Inc. |
| QTRH | |
| Exchange: | TSX |
| Founded: | 1992 |
| CA$172,285,325 | |
| 118,817,466 | |
| Website: | http://www.quarterhill.com |
| Address: |
Quarterhill Inc. 30 Duke Street West, Suite 604, Kitchener, Ontario, N2H 3W5, Canada |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| TSX | QTRH | Common Shares | The Toronto Stock Exchange | CA | CAD | 25. Mar 1998 | |
| NasdaqGS | QTRH | Common Shares | Nasdaq Global Select | US | USD | 25. Mar 1998 | |
| DB | WJL | Common Shares | Deutsche Boerse AG | DE | EUR | 25. Mar 1998 |
Number of employees
Current staff
Industry
| Communications Equipment | |
| Tech |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/19 23:44 |
| End of day share price update: | 2019/04/18 00:00 |
| Last estimates confirmation: | 2019/03/01 |
| Last earnings filing: | 2019/02/28 |
| Last earnings reported: | 2018/12/31 |
| 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.
