Integrated Diagnostics Holdings (DB:8I8) - Share price, News & Analysis

Q: What is the Fair Price of 8I8 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

8I8 (€0.8) is trading below our estimate of [[fair value]] (€3.17)

8I8 fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	4/6
Past Performance	6/6
Financial Health	5/6
Dividends	3/6

8I8 Stock Overview

Integrated Diagnostics Holdings plc, a consumer healthcare company, provides various medical diagnostics services to patients.

Rewards

Trading at 74.9% below our estimate of its fair value

Earnings are forecast to grow 15.41% per year

Earnings grew by 69.5% over the past year

Risk Analysis

Dividend of 12.75% is not well covered by earnings

Integrated Diagnostics Holdings Competitors

SYNLAB

DB:SYAB

€4.2b

Fresenius Medical Care KGaA

XTRA:FME

€10.7b

Medios

XTRA:ILM1

€665.9m

Fresenius SE KGaA

XTRA:FRE

€13.4b

Price History & Performance

Summary of all time highs, changes and price drops for Integrated Diagnostics Holdings
Historical stock prices
Current Share Price	US$0.80
52 Week High	US$1.18
52 Week Low	US$0.64
Beta	0.67
1 Month Change	10.42%
3 Month Change	-21.29%
1 Year Change	-16.58%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-10.77%

Shareholder Returns

	8I8	DE Healthcare	DE Market
7D	6.0%	-9.8%	4.2%
1Y	-16.6%	-38.8%	-19.6%

Return vs Industry: 8I8 exceeded the German Healthcare industry which returned -38.9% over the past year.

Return vs Market: 8I8 exceeded the German Market which returned -20% over the past year.

Price Volatility

Is 8I8's price volatile compared to industry and market?
8I8 volatility
8I8 Average Weekly Movement	6.1%
Healthcare Industry Average Movement	4.3%
Market Average Movement	5.7%
10% most volatile stocks in DE Market	10.6%
10% least volatile stocks in DE Market	2.9%

Stable Share Price: 8I8 is not significantly more volatile than the rest of German stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: 8I8's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1979	6,388	Hend El Sherbini	https://www.idhcorp.com

Integrated Diagnostics Holdings plc, a consumer healthcare company, provides various medical diagnostics services to patients. It offers approximately 2,000 diagnostic test services, including immunology, microbiology, hematology, endocrinology, clinical chemistry, molecular biology, cytogenetics, histopathology, and radiology. The company operates in Egypt, Jordan, Sudan, and Nigeria.

Integrated Diagnostics Holdings Fundamentals Summary

How do Integrated Diagnostics Holdings's earnings and revenue compare to its market cap?
8I8 fundamental statistics
Market Cap	ج.م10.33b
Earnings (TTM)	ج.م1.38b
Revenue (TTM)	ج.م5.28b

7.5x

P/E Ratio

2.0x

P/S Ratio

Is 8I8 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
8I8 income statement (TTM)
Revenue	ج.م5.28b
Cost of Revenue	ج.م2.58b
Gross Profit	ج.م2.70b
Other Expenses	ج.م1.31b
Earnings	ج.م1.38b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	2.31
Gross Margin	51.13%
Net Profit Margin	26.22%
Debt/Equity Ratio	3.3%

How did 8I8 perform over the long term?

See historical performance and comparison

Dividends

12.8%

Current Dividend Yield

94%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is 8I8 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

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 8I8?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for 8I8. This is calculated by dividing 8I8's market cap by their current preferred multiple.
What is 8I8's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	ج.م10.33b

8I8 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/Revenue	1.7x
Enterprise Value/EBITDA	3.9x
PEG Ratio	0.5x

Price to Earnings Ratio vs Peers

How does 8I8's PE Ratio compare to its peers?

8I8 PE Ratio vs Peers

The above table shows the PE ratio for 8I8 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	23.6x
SYAB SYNLAB	6.5x	-10.9%	€4.2b
FME Fresenius Medical Care KGaA	13.2x	23.4%	€10.7b
ILM1 Medios	69.4x	39.2%	€665.9m
FRE Fresenius SE KGaA	7.9x	12.6%	€13.4b
8I8 Integrated Diagnostics Holdings	7.5x	15.4%	€540.0m

Price-To-Earnings vs Peers: 8I8 is good value based on its Price-To-Earnings Ratio (7.5x) compared to the peer average (23.6x).

Price to Earnings Ratio vs Industry

How does 8I8's PE Ratio compare vs other companies in the European Healthcare Industry?

Price-To-Earnings vs Industry: 8I8 is good value based on its Price-To-Earnings Ratio (7.5x) compared to the German Healthcare industry average (10.4x)

Price to Earnings Ratio vs Fair Ratio

What is 8I8'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.

8I8 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	7.5x
Fair PE Ratio	19.3x

Price-To-Earnings vs Fair Ratio: 8I8 is good value based on its Price-To-Earnings Ratio (7.5x) compared to the estimated Fair Price-To-Earnings Ratio (19.3x).

Share Price vs Fair Value

What is the Fair Price of 8I8 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 8I8 (€0.8) is trading below our estimate of fair value (€3.17)

Significantly Below Fair Value: 8I8 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 analysts are not within a statistically confident range of agreement.

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Future Growth

How is Integrated Diagnostics Holdings forecast to perform in the next 1 to 3 years based on estimates from 7 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

15.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 8I8's forecast earnings growth (15.4% per year) is above the savings rate (-0.01%).

Earnings vs Market: 8I8's earnings (15.4% per year) are forecast to grow faster than the German market (7.8% per year).

High Growth Earnings: 8I8's earnings are forecast to grow, but not significantly.

Revenue vs Market: 8I8's revenue (10.9% per year) is forecast to grow faster than the German market (4.7% per year).

High Growth Revenue: 8I8's revenue (10.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 8I8's Return on Equity is forecast to be very high in 3 years time (60%).

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Past Performance

How has Integrated Diagnostics Holdings performed over the past 5 years?

Past Performance Score

6/6

Past Performance Score 6/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

30.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 8I8 has high quality earnings.

Growing Profit Margin: 8I8's current net profit margins (26.2%) are higher than last year (24.8%).

Past Earnings Growth Analysis

Earnings Trend: 8I8's earnings have grown significantly by 30.8% per year over the past 5 years.

Accelerating Growth: 8I8's earnings growth over the past year (69.5%) exceeds its 5-year average (30.8% per year).

Earnings vs Industry: 8I8 earnings growth over the past year (69.5%) exceeded the Healthcare industry 44.5%.

Return on Equity

High ROE: 8I8's Return on Equity (48.6%) is considered outstanding.

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Financial Health

How is Integrated Diagnostics Holdings's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: 8I8's short term assets (EGP3.4B) exceed its short term liabilities (EGP2.5B).

Long Term Liabilities: 8I8's short term assets (EGP3.4B) exceed its long term liabilities (EGP1.2B).

Debt to Equity History and Analysis

Debt Level: 8I8 has more cash than its total debt.

Reducing Debt: 8I8's debt to equity ratio has increased from 2.5% to 3.3% over the past 5 years.

Debt Coverage: 8I8's debt is well covered by operating cash flow (2132.5%).

Interest Coverage: 8I8 earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

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Dividend

What is Integrated Diagnostics Holdings's current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

12.75%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 8I8's dividend (12.75%) is higher than the bottom 25% of dividend payers in the German market (1.46%).

High Dividend: 8I8's dividend (12.75%) is in the top 25% of dividend payers in the German market (4.59%)

Stability and Growth of Payments

Stable Dividend: 8I8 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 8I8's dividend payments have increased, but the company has only paid a dividend for 6 years.

Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (94.1%), 8I8's dividend payments are not well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (72.2%), 8I8's dividend payments are covered by cash flows.

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Management

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

7.6yrs

Average board tenure

CEO

Hend El Sherbini (53 yo)

10.58yrs

Tenure

ج.م8,945,102

Compensation

Prof. Dr. Hend El Sherbini has been Group Chief Executive Officer of Integrated Diagnostics Holdings plc since 2012 and as its Executive Director since December 23, 2014. Prof. Dr. El Sherbini serves as th...

CEO Compensation Analysis

Compensation vs Market: Hend's total compensation ($USD467.80K) is below average for companies of similar size in the German market ($USD1.23M).

Compensation vs Earnings: Hend's compensation has been consistent with company performance over the past year.

Board Members

Experienced Board: 8I8's board of directors are considered experienced (7.6 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.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/08/03 00:00
End of Day Share Price	2022/08/03 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31