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Silicom

DB:S1L
Snowflake Description

Flawless balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
S1L
DB
$291M
Market Cap
  1. Home
  2. DE
  3. Tech
Company description

Silicom Ltd., together with its subsidiaries, designs, manufactures, markets, and supports networking and data infrastructure solutions for a range of servers, server based systems, and communications devices in North America, Europe, and the Asia Pacific. The last earnings update was 31 days ago. More info.


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S1L Share Price and Events
7 Day Returns
-1%
DB:S1L
-9%
DE Communications
2.4%
DE Market
1 Year Returns
14.2%
DB:S1L
18.5%
DE Communications
-6.2%
DE Market
S1L Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Silicom (S1L) -1% 2% 14.8% 14.2% 34.3% -
DE Communications -9% -2.5% 23.5% 18.5% 1.8% 52.6%
DE Market 2.4% 3% 7.4% -6.2% 9.6% 14.1%
1 Year Return vs Industry and Market
  • S1L underperformed the Communications industry which returned 18.5% over the past year.
  • S1L outperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
S1L
Industry
5yr Volatility vs Market

Value

 Is Silicom 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 Silicom 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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Silicom.

DB:S1L Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:S1L
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Communications Unlevered Beta Simply Wall St/ S&P Global 1.09
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.09 (1 + (1- 23%) (0%))
1.06
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.06
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.06 * 5.96%)
6.55%

Discounted Cash Flow Calculation for DB:S1L using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Silicom 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.

DB:S1L DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.55%)
2019 88.96 Est @ 103.98% 83.49
2020 153.78 Est @ 72.86% 135.46
2021 232.31 Est @ 51.07% 192.05
2022 315.51 Est @ 35.82% 244.81
2023 394.82 Est @ 25.14% 287.52
2024 464.57 Est @ 17.67% 317.52
2025 522.34 Est @ 12.43% 335.06
2026 568.16 Est @ 8.77% 342.06
2027 603.44 Est @ 6.21% 340.97
2028 630.08 Est @ 4.41% 334.14
Present value of next 10 years cash flows $2,613.09
DB:S1L DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $630.08 × (1 + 0.23%) ÷ (6.55% – 0.23%)
$9,991.91
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $9,991.91 ÷ (1 + 6.55%)10
$5,298.87
DB:S1L Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,613.09 + $5,298.87
$7,911.96
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $7,911.96 / 7.54
$1048.74
DB:S1L Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:S1L represents 0.867x of NasdaqGS:SILC
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.867x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 1,048.74 x 0.867
€909.26
Value per share (EUR) From above. €909.26
Current discount Discount to share price of €33.48
= -1 x (€33.48 - €909.26) / €909.26
96.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Silicom is available for.
Intrinsic value
>50%
Share price is €33.48 vs Future cash flow value of €909.26
Current Discount Checks
For Silicom to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Silicom's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Silicom'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 Silicom's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Silicom's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:S1L PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $1.94
NasdaqGS:SILC Share Price ** NasdaqGS (2019-04-18) in USD $38.61
Germany Communications Industry PE Ratio Median Figure of 5 Publicly-Listed Communications Companies 27.71x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.67x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Silicom.

DB:S1L PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:SILC Share Price ÷ EPS (both in USD)

= 38.61 ÷ 1.94

19.92x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Silicom is good value based on earnings compared to the DE Communications industry average.
  • Silicom is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Silicom's expected growth come at a high price?
Raw Data
DB:S1L PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 19.92x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
23.2%per year
Europe Communications Industry PEG Ratio Median Figure of 13 Publicly-Listed Communications Companies 0.96x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.58x

*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 Silicom, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Silicom's assets?
Raw Data
DB:S1L PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $20.92
NasdaqGS:SILC Share Price * NasdaqGS (2019-04-18) in USD $38.61
Germany Communications Industry PB Ratio Median Figure of 7 Publicly-Listed Communications Companies 1.53x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.85x
DB:S1L PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:SILC Share Price ÷ Book Value per Share (both in USD)

= 38.61 ÷ 20.92

1.85x

* Primary Listing of Silicom.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Silicom is overvalued based on assets compared to the DE Communications industry average.
X
Value checks
We assess Silicom's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the Communications industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Communications industry average (and greater than 0)? (1 check)
  5. Silicom 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.

Future Performance

 How is Silicom expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

  • No analysts cover Silicom, future earnings growth has been estimated based on fundamentals.
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!
Annual Growth Rate
23.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Silicom expected to grow at an attractive rate?
  • Silicom's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Silicom's earnings growth is expected to exceed the Germany market average.
  • Silicom's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:S1L Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:S1L Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 23.2%
DB:S1L Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 10.7%
Germany Communications Industry Earnings Growth Rate Market Cap Weighted Average 24.7%
Europe Communications Industry Revenue Growth Rate Market Cap Weighted Average 2.4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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
Raw Data
DB:S1L Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:S1L Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 165 1
2019-12-31 146 1
DB:S1L Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 134 46 15
2018-09-30 126 15
2018-06-30 127 21 16
2018-03-31 130 18
2017-12-31 126 1 22
2017-09-30 116 16
2017-06-30 109 3 14
2017-03-31 104 14
2016-12-31 100 -3 13
2016-09-30 99 13
2016-06-30 94 4 17
2016-03-31 85 15

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Silicom's earnings are expected to grow significantly at over 20% yearly.
  • Silicom's revenue is expected to grow by 10.7% yearly, however this is not considered high growth (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.
Raw Data
DB:S1L 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 1 Analyst Estimates (S&P Global) See Below

All data from Silicom Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:S1L Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31
2019-12-31
DB:S1L Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 1.94
2018-09-30 2.00
2018-06-30 2.11
2018-03-31 2.36
2017-12-31 2.91
2017-09-30 2.14
2017-06-30 1.96
2017-03-31 1.88
2016-12-31 1.79
2016-09-30 1.78
2016-06-30 2.32
2016-03-31 2.12

*GAAP earnings excluding extraordinary items.

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 Silicom will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Silicom's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Silicom 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.

Past Performance

  How has Silicom 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
Below we compare Silicom's growth in the last year to its industry (Communications).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Silicom's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Silicom's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Silicom's 1-year earnings growth is negative, it can't be compared to the Europe Communications industry average.
Earnings and Revenue History
Silicom's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Silicom Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:S1L Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 133.75 14.64 10.59 14.82
2018-09-30 126.01 15.07 10.66 14.27
2018-06-30 127.21 15.92 10.92 14.15
2018-03-31 129.87 17.68 10.84 13.83
2017-12-31 125.69 21.71 11.23 13.92
2017-09-30 116.24 15.90 10.74 14.02
2017-06-30 108.60 14.49 10.63 13.61
2017-03-31 104.33 13.83 10.73 13.15
2016-12-31 100.35 13.14 10.39 12.66
2016-09-30 99.46 13.06 14.12 11.97
2016-06-30 94.21 16.92 10.24 11.02
2016-03-31 85.33 15.44 9.51 10.43
2015-12-31 82.74 16.52 9.26 9.70
2015-09-30 78.13 16.82 5.01 8.53
2015-06-30 74.58 12.27 8.06 8.02
2015-03-31 75.38 13.54 7.64 7.32
2014-12-31 75.62 14.61 7.22 6.48
2014-09-30 78.14 16.55 6.86 6.28
2014-06-30 79.48 18.06 6.80 5.92
2014-03-31 77.27 18.02 6.57 5.68
2013-12-31 73.30 17.08 6.39 5.47
2013-09-30 64.64 13.44 6.39 5.18
2013-06-30 58.96 12.00 6.05 4.91
2013-03-31 53.66 11.00 5.75 4.55
2012-12-31 48.73 9.87 5.45 4.40
2012-09-30 43.12 9.24 4.81 4.18
2012-06-30 41.61 8.76 4.61 4.19

*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.
  • Silicom has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Silicom used its assets more efficiently than the DE Communications industry average last year based on Return on Assets.
  • Silicom's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Silicom's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Communications industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. 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.
Silicom has a total score of 1/6, 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.

Health

 How is Silicom'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 Silicom's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Silicom is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Silicom's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Silicom'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 checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Silicom has no debt, it does not need to be covered by short term assets.
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.
Raw Data

All data from Silicom Company Filings, last reported 3 months ago.

DB:S1L Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 158.15 0.00 28.41
2018-09-30 147.40 0.00 20.67
2018-06-30 142.94 0.00 32.68
2018-03-31 139.84 0.00 28.47
2017-12-31 140.80 0.00 24.77
2017-09-30 129.46 0.00 36.95
2017-06-30 122.50 0.00 30.76
2017-03-31 124.75 0.00 37.59
2016-12-31 121.39 0.00 28.18
2016-09-30 116.49 0.00 32.57
2016-06-30 112.47 0.00 26.49
2016-03-31 115.69 0.00 39.09
2015-12-31 112.83 0.00 26.81
2015-09-30 107.59 0.00 28.33
2015-06-30 100.09 0.00 26.06
2015-03-31 104.93 0.00 31.96
2014-12-31 100.73 0.00 37.06
2014-09-30 95.09 0.00 35.02
2014-06-30 92.15 0.00 30.62
2014-03-31 95.67 0.00 33.98
2013-12-31 90.69 0.00 30.87
2013-09-30 83.39 0.00 28.10
2013-06-30 79.20 0.00 28.95
2013-03-31 79.66 0.00 29.26
2012-12-31 74.97 0.00 28.42
2012-09-30 71.46 0.00 26.20
2012-06-30 68.75 0.00 19.51
  • Silicom has no debt.
  • Silicom has not taken on any debt in the past 5 years.
  • Silicom has no debt, it does not need to be covered by operating cash flow.
  • Silicom has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Silicom's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Silicom has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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.

Dividends

 What is Silicom'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
Dividend payments
0%
Current annual income from Silicom dividends.
If you bought €2,000 of Silicom shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Silicom's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Silicom's dividend against the top 25% market benchmark as the company has not reported any payouts.
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.
Raw Data
DB:S1L Annualized Past and Future Dividends
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 1 Analyst Estimates (S&P Global) See Below
Europe Communications Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 2.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:S1L Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2019-12-31
DB:S1L Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-19 0.000 0.000
2019-01-31 0.000 0.000
2018-10-25 0.000 0.000
2018-08-09 0.000 0.000
2018-07-26 0.000 0.000
2018-04-30 0.000 0.000
2018-03-15 0.000 0.000
2017-03-15 1.000 1.775
2016-03-21 1.000 2.873
2015-03-23 1.000 3.239
2014-03-18 1.000 2.660
2013-03-18 0.550 1.440

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Silicom has not reported any payouts.
  • Unable to verify if Silicom's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Silicom's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Silicom has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Silicom's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Silicom afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Silicom has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

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.
CEO
Shaike Orbach
COMPENSATION $1,289,369
AGE 66
TENURE AS CEO 18 years
CEO Bio

Mr. Yeshayahu Orbach, also known as Shaike, has been the President and Chief Executive Officer of Silicom Ltd. since April 2001. In December, 2001. Mr. Orbach served as the President and Chief Executive Officer of OPGAL Ltd., a High-tech subsidiary of Israel’s Rafael and El-op Corporations. Previously, he served as General Manager of Edusoft, an Israeli Company the Shares of which were traded on the Nasdaq National Market and Managing Director of Tecsys Ltd. He has been a Director of Silicom Ltd. since December 2001. He holds a B.sc degree in Mechanical Engineering from the Technion.

CEO Compensation
  • Shaike's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Shaike's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Silicom management team in years:

21.1
Average Tenure
58.5
Average Age
  • The average tenure for the Silicom management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Avi Eizenman

TITLE
Co-Founder & Chairman
COMPENSATION
$1M
AGE
61
TENURE
32.3 yrs

Shaike Orbach

TITLE
CEO, President & Director
COMPENSATION
$1M
AGE
66
TENURE
18 yrs

Elad Blatt

TITLE
Chief Strategy & Business Development Officer
COMPENSATION
$417K

David Hendel

TITLE
Vice President of Research & Development
COMPENSATION
$364K
AGE
56
TENURE
24.3 yrs

David Castiel

TITLE
Vice President of Engineering
COMPENSATION
$382K

Eran Gilad

TITLE
CFO & Company Secretary
COMPENSATION
$329K
AGE
51
TENURE
13.9 yrs
Board of Directors Tenure

Average tenure and age of the Silicom board of directors in years:

8.8
Average Tenure
61
Average Age
  • The tenure for the Silicom board of directors is about average.
Board of Directors

Avi Eizenman

TITLE
Co-Founder & Chairman
COMPENSATION
$1M
AGE
61
TENURE
18 yrs

Shaike Orbach

TITLE
CEO, President & Director
COMPENSATION
$1M
AGE
66
TENURE
17.3 yrs

Ilan Erez

TITLE
External Director
AGE
51
TENURE
8.8 yrs

Ayelet Hayak

TITLE
External Director
AGE
48
TENURE
5.8 yrs

Eli Doron

TITLE
Director
AGE
65
TENURE
3.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
26. Nov 18 Sell Lomsha Ltd. Company 06. Nov 18 21. Nov 18 -121,948 €39.15 €-4,646,660
05. Nov 18 Sell Zohar Zisapel Individual 26. Sep 18 02. Nov 18 -284,524 €39.41 €-11,214,174
26. Sep 18 Sell Zohar Zisapel Individual 15. Jun 18 25. Sep 18 -163,565 €35.18 €-5,753,856
13. Jun 18 Sell Zohar Zisapel Individual 03. Jul 18 06. Aug 18 -142,749 €53.56 €-7,645,732
X
Management checks
We assess Silicom's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Silicom 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.

News

Simply Wall St News

Company Info

Description

Silicom Ltd., together with its subsidiaries, designs, manufactures, markets, and supports networking and data infrastructure solutions for a range of servers, server based systems, and communications devices in North America, Europe, and the Asia Pacific. It offers server network interface cards with and without bypass for the server networking industry. The company also provides intelligent and programmable cards, including redirector and switching cards; encryption and data compression hardware acceleration cards; full field programmable gate array (FPGA) based packet processing cards; and compute blades. In addition, it offers customer premise equipment (CPE), vCPE or edge networking devices products for SD-WAN and NFV deployments; networking targeted appliances; and bypass switches and intelligent bypass switches. The company sells its products primarily to original equipment manufacturers, and cloud and telco companies. Silicom Ltd. was founded in 1987 and is headquartered in Kfar Sava, Israel.

Details
Name: Silicom Ltd.
S1L
Exchange: DB
Founded: 1987
$259,008,732
7,544,234
Website: http://www.silicom-usa.com
Address: Silicom Ltd.
14 Atir Yeda Street,
Kfar Sava,
4464323,
Israel
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS SILC Ordinary Shares Nasdaq Global Select US USD 18. Feb 1994
DB S1L Ordinary Shares Deutsche Boerse AG DE EUR 18. Feb 1994
Number of employees
Current staff
Staff numbers
0
Silicom employees.
Industry
Communications Equipment
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 21:52
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/01/31
Last earnings filing: 2019/03/19
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.