DB:16E

Stock Analysis Report

Executive Summary

Episurf Medical AB (publ), a medical device company, designs and manufactures implants and surgical instruments in the Nordic countries, Benelux, Germany, and the United Kingdom.

Rewards

Revenue is forecast to grow 61.49% per year

Risk Analysis

Earnings are forecast to decline by an average of -5.2% per year for the next 3 years

Has less than 1 year of cash runway

Shareholders have been substantially diluted in the past year

Makes less than USD$1m in revenue (SEK5M)

+ 3 more risks


Snowflake Analysis

Adequate balance sheet with limited growth.


Similar Companies

Share Price & News

How has Episurf Medical's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 16E's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

3.1%

16E

-2.5%

DE Medical Equipment

-0.3%

DE Market


1 Year Return

n/a

16E

26.6%

DE Medical Equipment

14.9%

DE Market

Return vs Industry: Insufficient data to determine how 16E performed against the German Medical Equipment industry.

Return vs Market: Insufficient data to determine how 16E performed against the German Market.


Shareholder returns

16EIndustryMarket
7 Day3.1%-2.5%-0.3%
30 Day23.7%2.6%-0.1%
90 Day9.8%13.7%7.1%
1 Yearn/a28.7%26.6%18.5%14.9%
3 Yearn/a128.6%122.6%20.0%9.5%
5 Yearn/a293.7%274.0%38.0%19.3%

Price Volatility Vs. Market

How volatile is Episurf Medical's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Episurf Medical undervalued compared to its fair value and its price relative to the market?

2.11x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate 16E's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate 16E's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: 16E is unprofitable, so we can't compare its PE Ratio to the Medical Equipment industry average.

PE vs Market: 16E is unprofitable, so we can't compare its PE Ratio to the German market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 16E's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 16E is good value based on its PB Ratio (2.1x) compared to the DE Medical Equipment industry average (5.9x).


Next Steps

Future Growth

How is Episurf Medical forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-5.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 16E is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: 16E is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: 16E is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: 16E's revenue (61.5% per year) is forecast to grow faster than the German market (4.9% per year).

High Growth Revenue: 16E's revenue (61.5% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 16E is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has Episurf Medical performed over the past 5 years?

-12.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 16E is currently unprofitable.

Growing Profit Margin: 16E is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: 16E is unprofitable, and losses have increased over the past 5 years at a rate of -12.4% per year.

Accelerating Growth: Unable to compare 16E's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: 16E is unprofitable, making it difficult to compare its past year earnings growth to the Medical Equipment industry (23.9%).


Return on Equity

High ROE: 16E has a negative Return on Equity (-110.3%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Episurf Medical's financial position?


Financial Position Analysis

Short Term Liabilities: 16E's short term assets (SEK47.1M) exceed its short term liabilities (SEK11.0M).

Long Term Liabilities: 16E's short term assets (SEK47.1M) exceed its long term liabilities (SEK4.1M).


Debt to Equity History and Analysis

Debt Level: 16E is debt free.

Reducing Debt: 16E had no debt 5 years ago.


Balance Sheet

Inventory Level: 16E has a low level of unsold assets or inventory.

Debt Coverage by Assets: 16E's debt is covered by short term assets (assets are 5.3029885612287E+16x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: 16E has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: 16E has less than a year of cash runway if free cash flow continues to reduce at historical rates of -0.6% each year


Next Steps

Dividend

What is Episurf Medical's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.6%industryaverage1.4%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate 16E's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 16E's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 16E's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 16E's dividend payments have been increasing.


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 16E's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

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

2.5yrs

Average management tenure


CEO

Pål Ryfors (36yo)

2.5yrs

Tenure

kr2,200,000

Compensation

Mr. Pal Ryfors has been the Chief Executive Officer of Episurf Medical AB since June 2, 2017 and as its Chief Financial Officer since December 14, 2015. Mr. Ryfors served as an Acting Chief Executive Offic ...


CEO Compensation Analysis

Compensation vs Market: Pål's total compensation ($USD231.34K) is about average for companies of similar size in the German market ($USD215.15K).

Compensation vs Earnings: Pål's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

2.5yrs

Average Tenure

44yo

Average Age

Experienced Management: 16E's management team is considered experienced (2.5 years average tenure).


Board Age and Tenure

3.6yrs

Average Tenure

61yo

Average Age

Experienced Board: 16E's board of directors are considered experienced (3.6 years average tenure).


Insider Trading

Insider Buying: 16E insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Buykr4,41313 Nov 19
Leif Ryd
EntityIndividual
Role
Chairman of Advisory Board
Chairman of Clinical Advisory Board
Shares40,000
Max Pricekr0.11
Buykr9,48213 Sep 19
Göran Martinsson
EntityIndividual
Role
Head of Sales
Sales Director
Shares100,000
Max Pricekr0.095
Buykr4,41131 May 19
Dennis Stripe
EntityIndividual
Role
Chairman of the Board
Chairman
Shares32,000
Max Pricekr0.14
Buykr33827 Dec 18
Laura Shunk
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares10,000
Max Pricekr0.034
Buykr7,19517 Dec 18
Leif Ryd
EntityIndividual
Role
Chairman of Advisory Board
Chairman of Clinical Advisory Board
Shares25,000
Max Pricekr0.29

Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 71.3%.


Management Team

  • Beata Lihammar

    Principal Auditor

    • Tenure: 0yrs
  • Pål Ryfors (36yo)

    Chief Executive Officer

    • Tenure: 2.5yrs
    • Compensation: kr2.20m
  • Göran Martinsson (60yo)

    Sales Director

    • Tenure: 5.9yrs
  • Veronica Wallin (33yo)

    Chief Financial Officer

    • Tenure: 2.5yrs
  • Fredrik Zetterberg (44yo)

    Marketing Director

    • Tenure: 2.9yrs
  • Katarina Flodstrom (44yo)

    Chief Operating Officer

    • Tenure: 0.5yrs

Board Members

  • Dennis Stripe (62yo)

    Chairman

    • Tenure: 3.3yrs
    • Compensation: kr400.00k
  • Wilder Fulford (61yo)

    Independent Director

    • Tenure: 3.6yrs
    • Compensation: kr200.00k
  • Laura Shunk (61yo)

    Independent Director

    • Tenure: 2.9yrs
    • Compensation: kr200.00k
  • Leif Ryd (70yo)

    Chairman of Clinical Advisory Board

    • Tenure: 0yrs
    • Compensation: kr700.00k
  • Tim Spalding

    Member of Clinical Advisory Board

    • Tenure: 4.1yrs
  • Johannes Holz

    Member of Clinical Advisory Board

    • Tenure: 4.1yrs
  • Mats Brittberg

    Member of Clinical Advisory Board

    • Tenure: 4.1yrs
  • Karl Eriksson

    Member of Clinical Advisory Board

    • Tenure: 4.1yrs
  • Christian Krüeger (53yo)

    Independent Director

    • Tenure: 3.6yrs
    • Compensation: kr100.00k
  • Adam Mitchell

    Member of Clinical Advisory Board

    • Tenure: 2.8yrs

Company Information

Episurf Medical AB (publ)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Episurf Medical AB (publ)
  • Ticker: 16E
  • Exchange: DB
  • Founded: 2008
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: kr130.940m
  • Listing Market Cap: kr12.417m
  • Shares outstanding: 90.93m
  • Website: https://www.episurf.com

Number of Employees


Location

  • Episurf Medical AB (publ)
  • Karlavägen 60
  • Stockholm
  • Stockholm County
  • 114 49
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
EPIS BOM (OMX Nordic Exchange Stockholm)YesClass B SharesSESEKNov 2010
0QUTLSE (London Stock Exchange)YesClass B SharesGBSEKNov 2010
16EDB (Deutsche Boerse AG)YesClass B SharesDEEURNov 2010

Biography

Episurf Medical AB (publ), a medical device company, designs and manufactures implants and surgical instruments in the Nordic countries, Benelux, Germany, and the United Kingdom. The company offers Episeal ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/08 22:22
End of Day Share Price2019/12/06 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.