Carmat
Market Cap
€276.7m
Last Updated
2020/06/05 22:49 UTC
Data Sources
Company Financials +
Executive Summary
Carmat SA designs and develops total artificial heart for people suffering from end-stage biventricular heart failure in France and internationally.
Rewards
Risk Analysis
Currently unprofitable and not forecast to become profitable over the next 3 years
Snowflake Analysis
Adequate balance sheet with limited growth.
Share Price & News
How has Carmat's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: ALCAR's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
8.7%
ALCAR
-11.5%
FR Medical Equipment
8.7%
FR Market
1 Year Return
8.9%
ALCAR
42.8%
FR Medical Equipment
-2.4%
FR Market
Return vs Industry: ALCAR underperformed the French Medical Equipment industry which returned 47.4% over the past year.
Return vs Market: ALCAR exceeded the French Market which returned -3.8% over the past year.
Shareholder returns
| ALCAR | Industry | Market | |
|---|---|---|---|
| 7 Day | 8.7% | -11.5% | 8.7% |
| 30 Day | 21.3% | -1.9% | 15.9% |
| 90 Day | 23.3% | 35.6% | 1.3% |
| 1 Year | 8.9%8.9% | 42.8%42.8% | -0.7%-2.4% |
| 3 Year | -22.2%-22.2% | 43.9%42.1% | 11.2%2.2% |
| 5 Year | -64.3%-64.3% | 144.9%139.2% | 31.1%14.3% |
Price Volatility Vs. Market
How volatile is Carmat's share price compared to the market and industry in the last 5 years?
Simply Wall St News
4 days ago | Simply Wall St
Carmat SA's (EPA:ALCAR) Earnings Dropped -2.2%, Did Its Industry Show Weakness Too?3 weeks ago | Simply Wall St
Is Carmat (EPA:ALCAR) Weighed On By Its Debt Load?1 month ago | Simply Wall St
Those Who Purchased Carmat (EPA:ALCAR) Shares Five Years Ago Have A 76% Loss To Show For ItValuation
Is Carmat undervalued compared to its fair value and its price relative to the market?
7.1x
Price to Book (PB) ratio
Share Price vs. Fair Value
Below Fair Value: Insufficient data to calculate ALCAR's fair value to establish if it is undervalued.
Significantly Below Fair Value: Insufficient data to calculate ALCAR's fair value to establish if it is undervalued.
Price To Earnings Ratio
PE vs Industry: ALCAR is unprofitable, so we can't compare its PE Ratio to the Medical Equipment industry average.
PE vs Market: ALCAR is unprofitable, so we can't compare its PE Ratio to the French market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate ALCAR's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: ALCAR is overvalued based on its PB Ratio (7.1x) compared to the FR Medical Equipment industry average (2.6x).
Next Steps
Future Growth
How is Carmat forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
30.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ALCAR is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: ALCAR is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: ALCAR is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: ALCAR's revenue (59.1% per year) is forecast to grow faster than the French market (3.9% per year).
High Growth Revenue: ALCAR's revenue (59.1% per year) is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if ALCAR's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Carmat performed over the past 5 years?
-23.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ALCAR is currently unprofitable.
Growing Profit Margin: ALCAR is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: ALCAR is unprofitable, and losses have increased over the past 5 years at a rate of -23% per year.
Accelerating Growth: Unable to compare ALCAR's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: ALCAR is unprofitable, making it difficult to compare its past year earnings growth to the Medical Equipment industry (-1.8%).
Return on Equity
High ROE: ALCAR has a negative Return on Equity (-109.43%), as it is currently unprofitable.
Next Steps
Financial Health
How is Carmat's financial position?
Financial Position Analysis
Short Term Liabilities: ALCAR's short term assets (€59.1M) exceed its short term liabilities (€8.9M).
Long Term Liabilities: ALCAR's short term assets (€59.1M) exceed its long term liabilities (€16.8M).
Debt to Equity History and Analysis
Debt Level: ALCAR's debt to equity ratio (42.1%) is considered high.
Reducing Debt: ALCAR's debt to equity ratio has increased from 17.4% to 42.1% over the past 5 years.
Balance Sheet
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: ALCAR has sufficient cash runway for more than a year based on its current free cash flow.
Forecast Cash Runway: ALCAR has sufficient cash runway for 1.2 years if free cash flow continues to reduce at historical rates of 21% each year.
Next Steps
Dividend
What is Carmat's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate ALCAR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate ALCAR's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if ALCAR's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if ALCAR'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 ALCAR's dividend in 3 years as they are not forecast to pay a notable one for the French market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
3.2yrs
Average board tenure
CEO
Stéphane Piat
3.83yrs
Tenure
€1,705,148
Compensation
Mr. Stéphane Piat has been Chief Executive Officer of Carmat SA since August 29, 2016 and has been its Director since April 27, 2017. Mr. Piat is an acknowledged specialist in the medical device business, ...
CEO Compensation Analysis
Compensation vs Market: Stéphane's total compensation ($USD1.93M) is above average for companies of similar size in the French market ($USD544.03K).
Compensation vs Earnings: Stéphane's compensation has been consistent with company performance over the past year.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 3.83yrs | €1.71m | no data | |
| Director | 10.08yrs | €7.50k | no data | |
| Chairman | 1.5yrs | €100.00k | no data | |
| Independent Director | 9.5yrs | €7.50k | no data | |
| Member of the Scientific Committee | no data | no data | no data | |
| Honorary President | 1.25yrs | €1.50k | 4.35% €12.0m | |
| Member of the Scientific Committee | no data | no data | no data | |
| Member of the Scientific Committee | no data | no data | no data | |
| Member of the Scientific Committee | no data | no data | no data | |
| Member of the Scientific Committee | no data | no data | no data |
3.2yrs
Average Tenure
72yo
Average Age
Experienced Board: ALCAR's board of directors are considered experienced (3.2 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 been diluted in the past year, with total shares outstanding growing by 35%.
Top Shareholders
Company Information
Carmat SA's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Carmat SA
- Ticker: ALCAR
- Exchange: ENXTPA
- Founded: 2008
- Industry: Health Care Equipment
- Sector: Healthcare
- Market Cap: €276.690m
- Shares outstanding: 12.61m
- Website: https://www.carmatsa.com
Number of Employees
Location
- Carmat SA
- 36, avenue de l'Europe
- Immeuble l'Etendard
- Vélizy-Villacoublay
- Ile-de-France
- 78140
- France
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| ALCAR | ENXTPA (Euronext Paris) | Yes | Common Shares | FR | EUR | Jul 2010 |
| CXT | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Jul 2010 |
Biography
Carmat SA designs and develops total artificial heart for people suffering from end-stage biventricular heart failure in France and internationally. It also develops orthotopic, bioprosthetic, self-regulating, pulsatile, and implantable systems, as well as power supply systems. The company was founded in 2008 and is based in Vélizy-Villacoublay, France.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/06/05 22:49 |
| End of Day Share Price | 2020/06/05 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.