ATSE:IASO

Stock Analysis Report

Executive Summary

IASO S.A. operates hospitals, and a recovery and rehabilitation center in Europe.

Rewards

Trading at 72.8% below its fair value

Risk Analysis

Has a high level of debt

Large one-off items impacting financial results

Profit margins (7%) are lower than last year (16.7%)



Snowflake Analysis

Excellent balance sheet and fair value.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: IASO has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

IASO

1.7%

GR Healthcare

1.4%

GR Market


1 Year Return

5.1%

IASO

12.7%

GR Healthcare

41.2%

GR Market

Return vs Industry: IASO underperformed the Greek Healthcare industry which returned 11.2% over the past year.

Return vs Market: IASO underperformed the Greek Market which returned 41.1% over the past year.


Shareholder returns

IASOIndustryMarket
7 Day0%1.7%1.4%
30 Day-3.0%2.7%3.7%
90 Day-3.0%9.1%6.0%
1 Year6.6%5.1%14.8%12.7%47.3%41.2%
3 Year555.5%546.2%-7.1%-10.7%56.7%41.6%
5 Year361.1%354.6%26.3%18.5%-59.1%-60.7%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: IASO (€1.44) is trading below our estimate of fair value (€5.29)

Significantly Below Fair Value: IASO is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: IASO is poor value based on its PE Ratio (27.1x) compared to the Healthcare industry average (22.1x).

PE vs Market: IASO is poor value based on its PE Ratio (27.1x) compared to the Greek market (17x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: IASO is good value based on its PB Ratio (1.2x) compared to the XE Healthcare industry average (1.9x).


Next Steps

Future Growth

How is IASO forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

13.6%

Forecasted Healthcare industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as IASO has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has IASO performed over the past 5 years?

44.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IASO has a large one-off gain of €6.6M impacting its June 30 2019 financial results.

Growing Profit Margin: IASO's current net profit margins (7%) are lower than last year (16.7%).


Past Earnings Growth Analysis

Earnings Trend: IASO has become profitable over the past 5 years, growing earnings by 44.6% per year.

Accelerating Growth: IASO's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: IASO had negative earnings growth (-64%) over the past year, making it difficult to compare to the Healthcare industry average (-6.8%).


Return on Equity

High ROE: IASO's Return on Equity (3.6%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is IASO's financial position?


Financial Position Analysis

Short Term Liabilities: IASO's short term assets (€80.4M) exceed its short term liabilities (€60.2M).

Long Term Liabilities: IASO's short term assets (€80.4M) exceed its long term liabilities (€76.7M).


Debt to Equity History and Analysis

Debt Level: IASO's debt to equity ratio (68.2%) is considered high.

Reducing Debt: IASO's debt to equity ratio has reduced from 154.5% to 68.2% over the past 5 years.

Debt Coverage: IASO's debt is well covered by operating cash flow (27.4%).

Interest Coverage: IASO's interest payments on its debt are well covered by EBIT (4.4x coverage).


Balance Sheet

Inventory Level: IASO has a high level of physical assets or inventory.

Debt Coverage by Assets: IASO's debt is not covered by short term assets (assets are 0.8x debt).


Next Steps

Dividend

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


Dividend Yield vs Market

company0%marketbottom25%1.7%markettop25%3.5%industryaverage1.7%forecastin3Yearsn/a

Current dividend yield vs market & industry

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

High Dividend: Unable to evaluate IASO'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 IASO's dividends per share have been stable in the past.

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


Current Payout to Shareholders

Dividend Coverage: IASO is not paying a notable dividend for the Greek market.


Future Payout to Shareholders

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


Next Steps

Management

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

2.0yrs

Average management tenure


CEO

Petropoulos Paraskevas 0

0yrs

Tenure

0

Mr. Paraskevas P. Petropoulos serves as Chief Executive Officer of IASO S.A. Mr. Petropoulos served as Managing Director of Iaso SA. He served as 2nd Vice-Chairman of Iaso SA. He also served as Executive D ...


Management Age and Tenure

2.0yrs

Average Tenure

Experienced Management: IASO's management team is considered experienced (2 years average tenure).


Board Age and Tenure

0.3yrs

Average Tenure

Experienced Board: IASO's board of directors are not considered experienced ( 0.3 years average tenure), which suggests a new board.


Insider Trading

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.


Management Team

  • Petropoulos Paraskevas

    Chief Executive Officer

    • Doulgerakis Emmanouil

      Vice President of Board of Directors & CEO

      • Tenure: 0.3yrs
    • Stylianos Tsiropoulos

      Group Finance Director

      • Tenure: 8.8yrs
    • Stamatiou Georgios

      President of Board of Directors

      • Dimitris Mortoglou

        Operations Director

        • Periclis Exarchos

          Group Sales Director

          • Dionisios Leontaritis

            Group Business Development & Marketing Director

            • Athanasopoulou Nikoletta

              Head of Accounting

              • Antsaklis Aristeidis

                Chief Executive Officer

                • Tenure: 2yrs
              • Psathas Panagiotis

                Chief Executive Officer

                • Tenure: 2yrs

              Board Members

              • Doulgerakis Emmanouil

                Vice President of Board of Directors & CEO

                • Tenure: 0.3yrs
              • Stamatiou Georgios

                President of Board of Directors

                • Vasilopoulos Ioannis

                  Non-Executive Director

                  • Tenure: 2yrs
                • Papaioannou Efthymios

                  Independent Non-Executive Director

                  • Tenure: 2yrs
                • Xepapadakis Grigorios

                  Non-executive Member

                  • Tenure: 0.3yrs
                • Spyropoulos Spyridon

                  Non-executive Member

                  • Tenure: 0.3yrs
                • Alvarez - Federico

                  Non-executive Director

                  • Tenure: 0.3yrs
                • Van Steenkiste Peter

                  Non-executive Director

                  • Tenure: 0.3yrs
                • Papageorgiou Petros

                  Independent Non-executive Director

                  • Tenure: 0.3yrs

                Company Information

                IASO S.A.'s company bio, employee growth, exchange listings and data sources


                Key Information

                • Name: IASO S.A.
                • Ticker: IASO
                • Exchange: ATSE
                • Founded: 1996
                • Industry: Health Care Facilities
                • Sector: Healthcare
                • Market Cap: €175.906m
                • Shares outstanding: 122.16m
                • Website: https://www.iaso.gr

                Location

                • IASO S.A.
                • 37-39, Kifissias Avenue
                • Maroussi
                • Athens
                • 151 23
                • Greece

                Listings

                TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
                IASOATSE (The Athens Stock Exchange)YesOrdinary SharesGREURJun 2000
                0ERILSE (London Stock Exchange)YesOrdinary SharesGBEURJun 2000

                Biography

                IASO S.A. operates hospitals, and a recovery and rehabilitation center in Europe. The company offers obstetrics and gynecology services, including gynecological oncology, endoscopic surgery, and pediatric and juvenile gynecology services, as well as delivery and operating rooms. It also provides diagnostics and therapeutics services comprising neonatal audiology; endocrinology, diabetes, and osteoporosis; and medical imaging, fetal medicine-gynecological ultrasounds, recurrent spontaneous abortions, neonatal cardiology, central laboratories, radiation oncology, breast center, cytology, urodynamics, medical oncology, surgical pathology, neonatal pediatrics, and nuclear medicines, as well as plastic, reconstructive, and cosmetic surgery/laser services. In addition, the company offers outpatient department services, such as angiology, autoimmune rheumatic diseases and pregnancy, cardiology, check-up, colposcopy unit, dermatology, E.N.T, headache, hematology, nutritional support and dietetics, pediatric and adolescent gynecology, and veins laser treatment services, as well as endocrinology, diabetes, and osteoporosis services; and ancillary services. Further, it operates intensive care, neonatal intensive care, and assisted reproduction units. IASO S.A. was founded in 1996 and is based in Athens, Greece. IASO S.A. is a subsidiary of Ocm Luxembourg Healthcare Greece S.À R.L. 


                Company Analysis and Financial Data Status

                All financial data provided by Standard & Poor's Capital IQ.
                DataLast Updated (UTC time)
                Company Analysis2020/01/22 20:58
                End of Day Share Price2020/01/22 00:00
                Earnings2019/06/30
                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.