OB:COV

Stock Analysis Report

Executive Summary

ContextVision AB (publ), a medical technology software company, provides image analysis and artificial intelligence software solutions to original equipment manufacturers worldwide.


Snowflake Analysis

Flawless balance sheet with high growth potential.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

0%

COV

0.8%

NO Healthcare Services

-0.3%

NO Market


1 Year Return

67.2%

COV

9.3%

NO Healthcare Services

-1.2%

NO Market

Return vs Industry: COV exceeded the Norwegian Healthcare Services industry which returned 8.8% over the past year.

Return vs Market: COV exceeded the Norwegian Market which returned -1.3% over the past year.


Shareholder returns

COVIndustryMarket
7 Day0%0.8%-0.3%
30 Day2.0%-1.1%-3.6%
90 Day13.0%4.6%2.2%
1 Year67.2%67.2%10.7%9.3%4.2%-1.2%
3 Year107.0%107.0%25.7%21.0%29.6%13.1%
5 Year376.2%376.2%87.9%76.3%55.9%20.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is ContextVision 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: COV (NOK100) is trading below our estimate of fair value (NOK588.44)

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


Price To Earnings Ratio

PE vs Industry: COV is poor value based on its PE Ratio (59.8x) compared to the Healthcare Services industry average (35.1x).

PE vs Market: COV is poor value based on its PE Ratio (59.8x) compared to the Norwegian market (15.4x).


Price to Earnings Growth Ratio

PEG Ratio: COV is good value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: COV is overvalued based on its PB Ratio (11.8x) compared to the XE Healthcare Services industry average (4.3x).


Next Steps

Future Growth

How is ContextVision forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

61.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: COV's forecast earnings growth (61.3% per year) is above the savings rate (0.7%).

Earnings vs Market: COV's earnings (61.3% per year) are forecast to grow faster than the Norwegian market (18.8% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: COV's revenue (24.8% per year) is forecast to grow faster than the Norwegian market (3.3% per year).

High Growth Revenue: COV's revenue (24.8% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: COV's Return on Equity is forecast to be low in 3 years time (11.7%).


Next Steps

Past Performance

How has ContextVision performed over the past 5 years?

-8.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: COV has a high level of non-cash earnings.

Growing Profit Margin: COV became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: COV's earnings have declined by -8.8% per year over the past 5 years.

Accelerating Growth: COV has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: COV has become profitable in the last year, making it difficult to compare its past year earnings growth to the Healthcare Services industry (3.4%).


Return on Equity

High ROE: COV's Return on Equity (19.7%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is ContextVision's financial position?


Financial Position Analysis

Short Term Liabilities: COV's short term assets (SEK58.0M) exceed its short term liabilities (SEK24.3M).

Long Term Liabilities: COV's short term assets (SEK58.0M) exceed its long term liabilities (SEK6.6M).


Debt to Equity History and Analysis

Debt Level: COV is debt free.

Reducing Debt: COV has not had any debt for past 5 years.

Debt Coverage: COV has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: COV has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

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

Debt Coverage by Assets: COV's debt is covered by short term assets (assets are 3.26370235496E+16x debt).


Next Steps

Dividend

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


Dividend Yield vs Market

company0%marketbottom25%2.9%markettop25%6.1%industryaverage1.5%forecastin3Years0%

Current dividend yield vs market & industry

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

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

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


Current Payout to Shareholders

Dividend Coverage: COV is not paying a notable dividend for the Norwegian market.


Future Payout to Shareholders

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


Next Steps

Management

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

1.0yrs

Average management tenure


CEO

Fredrik Palm 0

0.8yrs

Tenure

Mr. Fredrik Palm has been the Chief Executive Officer of ContextVision AB (publ) since April 1, 2019. He was Vice President of Sales at ContextVision AB (publ) since January 2012 until April 1, 2019. He se ...


Leadership Team

NamePositionTenureCompensationOwnership
Martin Hedlund
Co-Founder & Director23.1yrskr1.78m10.83% SEK83.2m
Sven Günther-Hanssen
Co-Founder & Director0yrsno data11.09% SEK85.2m
Fredrik Palm
Chief Executive Officer0.8yrsno datano data
Ann-Charlotte Linderoth
Chief Financial Officer4.8yrsno datano data
Arto Järvinen
Chief Technical Officer0.3yrsno datano data
Marilyn Bui
DPA President1.1yrsno datano data

1.0yrs

Average Tenure

Experienced Management: COV's management team is not considered experienced ( 1 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Martin Hedlund
Co-Founder & Director23.1yrskr1.78m10.83% SEK83.2m
Sven Günther-Hanssen
Co-Founder & Director0yrsno data11.09% SEK85.2m
Magne Jordanger
Director1.1yrsno datano data
Karin Bernadotte
Independent Director9.1yrskr200.00k0.098% SEK750.0k
Fredrik Pontén
Digital Pathology Advisory Board Member2.3yrsno datano data
Erik Danielsen
Chairman of the Board10.1yrskr300.00k0.059% SEK450.0k
Anil Parwani
Digital Pathology Advisory Board Member0yrsno datano data
Junya Fukuoka
Digital Pathology Advisory Board Member2.3yrsno datano data
Jeroen van der Laak
Digital Pathology Advisory Board Member0yrsno datano data
Dan Ciresan
Digital Pathology Advisory Board Member0yrsno datano data

5.7yrs

Average Tenure

65yo

Average Age

Experienced Board: COV's board of directors are considered experienced (5.7 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.


Top Shareholders

Company Information

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


Key Information

  • Name: ContextVision AB (publ)
  • Ticker: COV
  • Exchange: OB
  • Founded: 1983
  • Industry: Health Care Technology
  • Sector: Healthcare
  • Market Cap: kr767.767m
  • Shares outstanding: 7.68m
  • Website: https://www.contextvision.com

Number of Employees


Location

  • ContextVision AB (publ)
  • Klara Norra Kyrkogata 31
  • Stockholm
  • Stockholm County
  • 111 22
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
COVOB (Oslo Bors)YesCommon SharesNONOKMar 1997
COVOBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBNOKMar 1997

Biography

ContextVision AB (publ), a medical technology software company, provides image analysis and artificial intelligence software solutions to original equipment manufacturers worldwide. It operates through two segments, Medical Imaging and Digital Pathology. The company offers image enhancement software for 2D/3D/4D ultrasound, radiography, magnetic resonance imaging (MRI), and mammography. Its products include US PLUSView, an image enhancement software product for women’s health, general imaging, cardiovascular, and point of care applications; VolarView, an image enhancement software for the handheld ultrasound market segment; GOPiCE, a technology for volumetric image enhancement in real-time; and REALiCE, a volume enhancement and rendering solution for visualization. The company also provides Altumira/Altumira Plus, a solution for various digital radiography systems; GOPView XR2Plus for x-ray systems for human and veterinary examinations; Orthopedic Package for orthopedic imaging; and GOPView iRVUltra, a software for noise suppression, edge, and contrast enhancement in real time. In addition, it offers GOPView MRI2Plus, an image enhancement solution for MRI; GOPView Mammo3, an image enhancement software for screening and diagnostic mammography; and INIFY Prostate, an AI-based software that outlines and quantifies suspected cancerous areas in a series of prostate biopsies. ContextVision AB (publ) was founded in 1983 and is headquartered in Stockholm, Sweden. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/18 20:48
End of Day Share Price2020/02/18 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.