Medistim (OB:MEDI) - Share price, News & Analysis

MEDI fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	4/6
Past Performance	6/6
Financial Health	6/6
Dividends	3/6

MEDI Stock Overview

Medistim ASA develops, produces, services, leases, and distributes medical devices for cardio-vascular surgery in the United States, Europe, Asia, and internationally.

Rewards

Trading at 5.3% below our estimate of its fair value

Earnings are forecast to grow 19.96% per year

Earnings grew by 32.4% over the past year

Risk Analysis

No risks detected for MEDI from our risk checks.

Medistim Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Medistim
Historical stock prices
Current Share Price	kr254.00
52 Week High	kr409.00
52 Week Low	kr213.50
Beta	0.73
1 Month Change	0.59%
3 Month Change	13.14%
1 Year Change	-9.45%
3 Year Change	92.42%
5 Year Change	217.50%
Change since IPO	2,366.02%

Recent News & Updates

Jun 14

A Look At The Intrinsic Value Of Medistim ASA (OB:MEDI)

In this article we are going to estimate the intrinsic value of Medistim ASA ( OB:MEDI ) by estimating the company's...

Shareholder Returns

	MEDI	NO Medical Equipment	NO Market
7D	-14.0%	5.8%	-3.4%
1Y	-9.4%	-23.0%	3.2%

Return vs Industry: MEDI exceeded the Norwegian Medical Equipment industry which returned -24.9% over the past year.

Return vs Market: MEDI underperformed the Norwegian Market which returned 3.4% over the past year.

Price Volatility

Is MEDI's price volatile compared to industry and market?
MEDI volatility
MEDI Average Weekly Movement	8.6%
Medical Equipment Industry Average Movement	6.8%
Market Average Movement	7.2%
10% most volatile stocks in NO Market	12.8%
10% least volatile stocks in NO Market	3.9%

Stable Share Price: MEDI is not significantly more volatile than the rest of Norwegian stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: MEDI's weekly volatility (9%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1984	117	Kari Krogstad	https://www.medistim.com

Medistim ASA develops, produces, services, leases, and distributes medical devices for cardio-vascular surgery in the United States, Europe, Asia, and internationally. It offers MiraQ Cardiac, a system that combines ultrasound imaging and transit time flow measurement (TTFM) in a single system for cardiac surgery; MiraQ Vascular, a system that combines ultrasound imaging and transit TTFM in a single system for vascular surgery; and imaging probes for intraoperative use. The company also provides various flow probes, such as QuickFit TTFM probes to accurately measure blood volume flow intraoperatively in various range of surgical applications; Vascular TTFM probes for enhancing surgical outcomes; and doppler probes that are used on the surface of the heart/vessel to search for intramural coronary arteries or to locate the position and quantify the degree of a stenosis.

Medistim Fundamentals Summary

How do Medistim's earnings and revenue compare to its market cap?
MEDI fundamental statistics
Market Cap	kr4.63b
Earnings (TTM)	kr92.80m
Revenue (TTM)	kr431.32m

49.9x

P/E Ratio

10.7x

P/S Ratio

Is MEDI overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
MEDI income statement (TTM)
Revenue	kr431.32m
Cost of Revenue	kr97.99m
Gross Profit	kr333.32m
Other Expenses	kr240.52m
Earnings	kr92.80m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 23, 2022

Earnings per share (EPS)	5.09
Gross Margin	77.28%
Net Profit Margin	21.52%
Debt/Equity Ratio	0%

How did MEDI perform over the long term?

See historical performance and comparison

Dividends

1.5%

Current Dividend Yield

74%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

1/6

Valuation Score 1/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MEDI?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for MEDI. This is calculated by dividing MEDI's market cap by their current preferred multiple.
What is MEDI's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	kr4.63b

MEDI 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	10.5x
Enterprise Value/EBITDA	35.9x
PEG Ratio	2.5x

Price to Earnings Ratio vs Peers

How does MEDI's PE Ratio compare to its peers?

MEDI PE Ratio vs Peers

The above table shows the PE ratio for MEDI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	46.6x

Forward PE

Price-To-Earnings vs Peers: MEDI is expensive based on its Price-To-Earnings Ratio (49.9x) compared to the peer average (46.6x).

Price to Earnings Ratio vs Industry

How does MEDI's PE Ratio compare vs other companies in the Medical Equipment Industry?

Price-To-Earnings vs Industry: MEDI is expensive based on its Price-To-Earnings Ratio (49.9x) compared to the European Medical Equipment industry average (27.3x)

Price to Earnings Ratio vs Fair Ratio

What is MEDI'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.

MEDI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	49.9x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MEDI's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

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

Below Fair Value: MEDI (NOK254) is trading below our estimate of fair value (NOK268.32)

Significantly Below Fair Value: MEDI is trading below fair value, but not by a significant amount.

Price to Earnings Growth Ratio

PEG Ratio: MEDI is poor value based on its PEG Ratio (2.5x)

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Future Growth

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

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

20.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: MEDI's forecast earnings growth (20% per year) is above the savings rate (1.1%).

Earnings vs Market: MEDI's earnings (20% per year) are forecast to grow faster than the Norwegian market (1.5% per year).

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

Revenue vs Market: MEDI's revenue (12.4% per year) is forecast to grow faster than the Norwegian market (0.2% per year).

High Growth Revenue: MEDI's revenue (12.4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: MEDI's Return on Equity is forecast to be high in 3 years time (28.1%)

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Past Performance

How has Medistim 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

16.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MEDI has high quality earnings.

Growing Profit Margin: MEDI's current net profit margins (21.5%) are higher than last year (19.7%).

Past Earnings Growth Analysis

Earnings Trend: MEDI's earnings have grown by 16.3% per year over the past 5 years.

Accelerating Growth: MEDI's earnings growth over the past year (32.4%) exceeds its 5-year average (16.3% per year).

Earnings vs Industry: MEDI earnings growth over the past year (32.4%) exceeded the Medical Equipment industry 22.5%.

Return on Equity

High ROE: MEDI's Return on Equity (28.3%) is considered high.

Discover strong past performing companies

Financial Health

How is Medistim's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

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

Financial Position Analysis

Short Term Liabilities: MEDI's short term assets (NOK333.5M) exceed its short term liabilities (NOK81.2M).

Long Term Liabilities: MEDI's short term assets (NOK333.5M) exceed its long term liabilities (NOK18.6M).

Debt to Equity History and Analysis

Debt Level: MEDI is debt free.

Reducing Debt: MEDI has no debt compared to 5 years ago when its debt to equity ratio was 0.07%.

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

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

Balance Sheet

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Dividend

What is Medistim 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
Future Dividend Coverage

1.48%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: MEDI's dividend (1.48%) isn’t notable compared to the bottom 25% of dividend payers in the Norwegian market (2.82%).

High Dividend: MEDI's dividend (1.48%) is low compared to the top 25% of dividend payers in the Norwegian market (7.24%).

Stability and Growth of Payments

Stable Dividend: MEDI's dividend payments have been volatile in the past 10 years.

Growing Dividend: MEDI's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (73.6%), MEDI's dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (56.5%), MEDI'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?

11.8yrs

Average management tenure

CEO

Kari Krogstad (57 yo)

12.75yrs

Tenure

kr6,395,468

Compensation

Ms. Kari Eian Krogstad serves as Director at Vistin Pharma ASA since June 24, a2020. She has been the Chief Executive Officer of Medistim ASA since September 1, 2009 and serves as its President. Ms. Krogst...

CEO Compensation Analysis

Compensation vs Market: Kari's total compensation ($USD648.07K) is about average for companies of similar size in the Norwegian market ($USD591.72K).

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

Leadership Team

Experienced Management: MEDI's management team is seasoned and experienced (11.8 years average tenure).

Board Members

Experienced Board: MEDI's board of directors are considered experienced (8.8 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.

Recent Insider Transactions

Ownership Breakdown

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

Data	Last Updated (UTC time)
Company Analysis	2022/06/24 00:00
End of Day Share Price	2022/06/24 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31