OM:IVSO

Stock Analysis Report

INVISIO Communications

Executive Summary

INVISIO Communications AB (publ) develops and sells personal communication and hearing protection systems for professionals in the defense and security sectors in Sweden, rest of Europe, North America, and internationally.

Snowflake

Fundamentals

Flawless balance sheet with high growth potential.

Risks

  • INVISIO Communications is covered by less than 3 analysts.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

2.4%

OM:IVSO

-5.7%

SE Aerospace & Defense

0.2%

SE Market


1 Year Return

16.7%

OM:IVSO

-32.4%

SE Aerospace & Defense

-1.9%

SE Market

IVSO outperformed the Aerospace & Defense industry which returned -32% over the past year.

IVSO outperformed the Market in Sweden which returned -2.6% over the past year.


Share holder returns

IVSOIndustryMarket
7 Day2.4%-5.7%0.2%
30 Day1.1%-11.3%-3.7%
90 Day-4.8%-5.9%-1.5%
1 Year17.9%16.7%-25.7%-32.4%2.2%-1.9%
3 Year4.9%2.2%4.6%-7.2%26.0%7.4%
5 Year450.2%435.8%129.8%101.9%45.6%14.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is INVISIO Communications undervalued based on future cash flows and its price relative to the stock market?

6%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

INVISIO Communications's share price is below the future cash flow value, but not at a moderate discount (< 20%).

INVISIO Communications's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

INVISIO Communications is overvalued based on earnings compared to the Europe Aerospace & Defense industry average.

INVISIO Communications is overvalued based on earnings compared to the Sweden market.


Price Based on Expected Growth

INVISIO Communications is poor value based on expected growth next year.


Price Based on Value of Assets

INVISIO Communications is overvalued based on assets compared to the SE Aerospace & Defense industry average.


Next Steps

Future Growth

How is INVISIO Communications expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

35.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

INVISIO Communications's revenue is expected to grow by 19.8% yearly, however this is not considered high growth (20% yearly).

INVISIO Communications's earnings are expected to grow significantly at over 20% yearly.

INVISIO Communications's revenue growth is expected to exceed the Sweden market average.

INVISIO Communications's earnings growth is expected to exceed the Sweden market average.

INVISIO Communications's earnings growth is expected to exceed the low risk savings rate of 0.4%.


Earnings per Share Growth Estimates


Future Return on Equity

INVISIO Communications is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).


Next Steps

Past Performance

How has INVISIO Communications performed over the past 5 years?

4.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

INVISIO Communications's year on year earnings growth rate has been positive over the past 5 years.

INVISIO Communications's 1-year earnings growth exceeds its 5-year average (5% vs 4.2%)

INVISIO Communications's earnings growth has not exceeded the Europe Aerospace & Defense industry average in the past year (5% vs 12.8%).


Return on Equity

INVISIO Communications has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

INVISIO Communications used its assets more efficiently than the Europe Aerospace & Defense industry average last year based on Return on Assets.


Return on Capital Employed

INVISIO Communications's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is INVISIO Communications's financial position?


Financial Position Analysis

INVISIO Communications is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

INVISIO Communications's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

INVISIO Communications has no debt.

INVISIO Communications has no debt compared to 5 years ago when it was 172.6%.

INVISIO Communications has no debt, it does not need to be covered by operating cash flow.

INVISIO Communications has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

High level of physical assets or inventory.

INVISIO Communications has no debt, it does not need to be covered by short term assets.


Next Steps

Dividend

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

1.90%

Expected Dividend Yield


Dividend Yield and Payments Analysis

INVISIO Communications's pays a lower dividend yield than the bottom 25% of dividend payers in Sweden (1.97%).

INVISIO Communications's dividend is below the markets top 25% of dividend payers in Sweden (4.54%).

INVISIO Communications is not paying a notable dividend for Sweden, therefore no need to check if the payments are stable.

INVISIO Communications is not paying a notable dividend for Sweden, therefore no need to check if the payments are increasing.


Current Payout to Shareholders

No need to calculate the sustainability of INVISIO Communications's dividends as it is not paying a notable one for Sweden.


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (2.7x coverage).


Next Steps

Management

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

2.7yrs

Average management tenure


CEO

Lars Hansen (56yo)

12.1yrs

Tenure

kr3,500,000

Compensation

Mr. Lars Højgård Hansen has been the Chief Executive Officer of INVISIO Communications AB (formerly Invisio Headsets AB) since July 2007 and serves as its President since 2007. Mr. Hojgard served as Head o ...


CEO Compensation Analysis

Lars's remuneration is about average for companies of similar size in Sweden.

Lars's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

2.7yrs

Average Tenure

55.5yo

Average Age

The tenure for the INVISIO Communications management team is about average.


Board Age and Tenure

1.3yrs

Average Tenure

56.5yo

Average Age

The average tenure for the INVISIO Communications board of directors is less than 3 years, this suggests a new board.


Insider Trading

INVISIO Communications individual insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Sellkr35,250,00009 Jul 19
Lage Jonason
EntityIndividual
Role
Member of the Board of Directors
Director
Shares500,000
Max Pricekr70.50
Buykr492,64004 May 19
Annika Andersson
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares7,000
Max Pricekr70.40
Sellkr109,600,00608 Mar 19
Lage Jonason
EntityIndividual
Role
Member of the Board of Directors
Director
Shares1,600,000
Max Pricekr68.50
Sellkr25,999,99921 Dec 18
Lage Jonason
EntityIndividual
Role
Member of the Board of Directors
Director
Shares400,000
Max Pricekr65.00
Sellkr590,19801 Nov 18
Jan Larsen
EntityIndividual
Role
Chief Operating Officer
Senior Vice President of R&D
Shares9,813
Max Pricekr60.70
Sellkr1,820,21110 Sep 18
Carsten Aagesen
EntityIndividual
Role
Head of Sales
Senior Vice President of Global Sales & Marketing
Shares29,000
Max Pricekr64.16
Sellkr309,50029 Aug 18
Jan Larsen
EntityIndividual
Role
Chief Operating Officer
Senior Vice President of R&D
Shares5,000
Max Pricekr61.90

Ownership Breakdown


Management Team

  • Lars Hansen (56yo)

    President & CEO

    • Tenure: 12.1yrs
    • Compensation: kr3.50m
  • Carsten Aagesen (51yo)

    Senior Vice President of Global Sales & Marketing

    • Tenure: 0.0yrs
  • Jan Larsen (57yo)

    Senior Vice President of R&D

    • Tenure: 2.7yrs
  • Thomas Larsson (55yo)

    Chief Financial Officer

    • Tenure: 7.3yrs
  • Tina Lawesson

    Director of Investor Relations & Corporate Communications

    • Tenure: 0.0yrs
  • Joakim Birgersson (55yo)

    Senior Vice President of Operations

    • Tenure: 0.9yrs
  • Sigge Frolov (56yo)

    Senior Vice President of Product Management & Product Marketing

    • Tenure: 1.6yrs

Board Members

  • Lage Jonason (68yo)

    Director

    • Tenure: 7.3yrs
    • Compensation: kr200.00k
  • Ulrika Hagdahl (57yo)

    Director

    • Tenure: 1.3yrs
    • Compensation: kr100.00k
  • Charlott Samuelsson (56yo)

    Director

    • Tenure: 0.3yrs
  • Annika Andersson (61yo)

    Chairman of the Board

    • Tenure: 0.3yrs
    • Compensation: kr200.00k
  • Charlotta Falvin (53yo)

    Independent Director

    • Tenure: 5.6yrs
    • Compensation: kr200.00k
  • Martin Krupicka (46yo)

    Director

    • Tenure: 1.3yrs
    • Compensation: kr100.00k

Company Information

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


Key Information

  • Name: INVISIO Communications AB (publ)
  • Ticker: IVSO
  • Exchange: OM
  • Founded: 1999
  • Industry: Aerospace and Defense
  • Sector: Capital Goods
  • Market Cap: kr3.166b
  • Shares outstanding: 44.10m
  • Website: https://www.invisio.com

Number of Employees


Location

  • INVISIO Communications AB (publ)
  • Box 151
  • Malmö
  • Skåne County
  • 201 21
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IVSOOM (OMX Nordic Exchange Stockholm)YesCommon SharesSESEKMay 2006
0R86LSE (London Stock Exchange)YesCommon SharesGBSEKMay 2006
IVSOSBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBSEKMay 2006
ICQDB (Deutsche Boerse AG)YesCommon SharesDEEURMay 2006

Biography

INVISIO Communications AB (publ) develops and sells personal communication and hearing protection systems for professionals in the defense and security sectors in Sweden, rest of Europe, North America, and ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/19 20:50
End of Day Share Price2019/08/19 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.