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IVSO

Invisio OM:IVSO Stock Report

Last Price

kr132.00

Market Cap

kr5.9b

7D

-9.3%

1Y

-24.3%

Updated

29 Sep, 2022

Data

Company Financials +
IVSO fundamental analysis
Snowflake Score
Valuation2/6
Future Growth6/6
Past Performance0/6
Financial Health4/6
Dividends0/6

IVSO Stock Overview

Invisio AB (publ) develops and sells personal communication and hearing protection systems for professionals in the defense and military, law enforcement, and security sectors in Sweden, Europe, North America, and internationally.

Rewards

Trading at 30.5% below our estimate of its fair value

Earnings are forecast to grow 88.04% per year

Risk Analysis

No risks detected for IVSO from our risk checks.

Invisio Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Invisio
Historical stock prices
Current Share Pricekr132.00
52 Week Highkr206.00
52 Week Lowkr108.10
Beta1.07
1 Month Change-9.96%
3 Month Change-10.20%
1 Year Change-24.27%
3 Year Change71.21%
5 Year Change58.56%
Change since IPO473.91%

Recent News & Updates

Sep 30
Should You Investigate Invisio AB (publ) (STO:IVSO) At kr132?

Should You Investigate Invisio AB (publ) (STO:IVSO) At kr132?

Invisio AB (publ) ( STO:IVSO ), might not be a large cap stock, but it received a lot of attention from a substantial...

Aug 16
Calculating The Intrinsic Value Of Invisio AB (publ) (STO:IVSO)

Calculating The Intrinsic Value Of Invisio AB (publ) (STO:IVSO)

Today we will run through one way of estimating the intrinsic value of Invisio AB (publ) ( STO:IVSO ) by taking the...

Shareholder Returns

IVSOSE Aerospace & DefenseSE Market
7D-9.3%-4.4%-2.8%
1Y-24.3%21.2%-29.4%

Return vs Industry: IVSO underperformed the Swedish Aerospace & Defense industry which returned 20.6% over the past year.

Return vs Market: IVSO exceeded the Swedish Market which returned -27.4% over the past year.

Price Volatility

Is IVSO's price volatile compared to industry and market?
IVSO volatility
IVSO Average Weekly Movement7.3%
Aerospace & Defense Industry Average Movement7.4%
Market Average Movement7.0%
10% most volatile stocks in SE Market11.8%
10% least volatile stocks in SE Market4.3%

Stable Share Price: IVSO is not significantly more volatile than the rest of Swedish stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: IVSO's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1999195Lars Hansenhttps://www.invisio.com

Invisio AB (publ) develops and sells personal communication and hearing protection systems for professionals in the defense and military, law enforcement, and security sectors in Sweden, Europe, North America, and internationally. The company offers headsets, control units, intercom systems, accessories and remote push-to-talk units, and cables. Its products are used in high noise and hearing protection applications.

Invisio Fundamentals Summary

How do Invisio's earnings and revenue compare to its market cap?
IVSO fundamental statistics
Market Capkr5.95b
Earnings (TTM)-kr13.30m
Revenue (TTM)kr586.00m

10.1x

P/S Ratio

-447.1x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
IVSO income statement (TTM)
Revenuekr586.00m
Cost of Revenuekr247.40m
Gross Profitkr338.60m
Other Expenseskr351.90m
Earnings-kr13.30m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Oct 27, 2022

Earnings per share (EPS)-0.30
Gross Margin57.78%
Net Profit Margin-2.27%
Debt/Equity Ratio17.3%

How did IVSO perform over the long term?

See historical performance and comparison

Dividends

0.5%

Current Dividend Yield

-235%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

IVSO 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/Revenue10.1x
Enterprise Value/EBITDA1004.1x
PEG Ration/a

Price to Sales Ratio vs Peers

How does IVSO's PS Ratio compare to its peers?

IVSO PS Ratio vs Peers
The above table shows the PS ratio for IVSO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average5.6x
MILDEF MilDef Group
4.1xn/akr2.4b
1.1x8.2%kr45.0b
CTT CTT Systems
12.7x27.6%kr2.5b
W5 W5 Solutions
4.4x23.3%kr630.4m
IVSO Invisio
10.1x25.3%kr5.9b

Price-To-Sales vs Peers: IVSO is expensive based on its Price-To-Sales Ratio (10.1x) compared to the peer average (5.6x).


Price to Earnings Ratio vs Industry

How does IVSO's PE Ratio compare vs other companies in the European Aerospace & Defense Industry?

Price-To-Sales vs Industry: IVSO is expensive based on its Price-To-Sales Ratio (10.1x) compared to the European Aerospace & Defense industry average (1.3x)


Price to Sales Ratio vs Fair Ratio

What is IVSO's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

IVSO PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio10.1x
Fair PS Ratio7x

Price-To-Sales vs Fair Ratio: IVSO is expensive based on its Price-To-Sales Ratio (10.1x) compared to the estimated Fair Price-To-Sales Ratio (7x).


Share Price vs Fair Value

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

Below Fair Value: IVSO (SEK132) is trading below our estimate of fair value (SEK189.88)

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


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.


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Future Growth

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

Future Growth Score

6/6

Future Growth Score 6/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


88.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IVSO is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (0.4%).

Earnings vs Market: IVSO is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: IVSO is expected to become profitable in the next 3 years.

Revenue vs Market: IVSO's revenue (25.3% per year) is forecast to grow faster than the Swedish market (10.7% per year).

High Growth Revenue: IVSO's revenue (25.3% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: IVSO's Return on Equity is forecast to be high in 3 years time (27.2%)


Discover growth companies

Past Performance

How has Invisio performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-14.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: IVSO is currently unprofitable.

Growing Profit Margin: IVSO is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: IVSO is unprofitable, and losses have increased over the past 5 years at a rate of 14.1% per year.

Accelerating Growth: Unable to compare IVSO's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: IVSO is unprofitable, making it difficult to compare its past year earnings growth to the Aerospace & Defense industry (27.6%).


Return on Equity

High ROE: IVSO has a negative Return on Equity (-3.07%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is Invisio's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: IVSO's short term assets (SEK405.2M) exceed its short term liabilities (SEK119.1M).

Long Term Liabilities: IVSO's short term assets (SEK405.2M) exceed its long term liabilities (SEK138.9M).


Debt to Equity History and Analysis

Debt Level: IVSO has more cash than its total debt.

Reducing Debt: Insufficient data to determine if IVSO's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: IVSO's debt is well covered by operating cash flow (57.5%).

Interest Coverage: Insufficient data to determine if IVSO's interest payments on its debt are well covered by EBIT.


Balance Sheet


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Dividend

What is Invisio current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


0.53%

Current Dividend Yield

Dividend Yield vs Market

Invisio Dividend Yield vs Market
How does Invisio dividend yield compare to the market?
SegmentDividend Yield
Company (Invisio)0.5%
Market Bottom 25% (SE)1.9%
Market Top 25% (SE)6.3%
Industry Average (Aerospace & Defense)1.8%
Analyst forecast in 3 Years (Invisio)0.7%

Notable Dividend: IVSO's dividend (0.53%) isn’t notable compared to the bottom 25% of dividend payers in the Swedish market (1.86%).

High Dividend: IVSO's dividend (0.53%) is low compared to the top 25% of dividend payers in the Swedish market (6.1%).


Stability and Growth of Payments

Stable Dividend: IVSO is not paying a notable dividend for the Swedish market, therefore no need to check if payments are stable.

Growing Dividend: IVSO is not paying a notable dividend for the Swedish market, therefore no need to check if payments are increasing.


Earnings Payout to Shareholders

Earnings Coverage: IVSO is not paying a notable dividend for the Swedish market.


Cash Payout to Shareholders

Cash Flow Coverage: IVSO is not paying a notable dividend for the Swedish market.


Discover strong dividend paying companies

Management

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

4.7yrs

Average management tenure


CEO

Lars Hansen (59 yo)

15.17yrs

Tenure

kr8,200,000

Compensation

Mr. Lars Højgård Hansen has been the Chief Executive Officer of INVISIO Communications AB (formerly Invisio AB (publ) (formerly known as INVISIO Communications AB (publ)) (formerly known as Invisio Headset...


CEO Compensation Analysis

Lars Hansen's Compensation vs Invisio Earnings
How has Lars Hansen's remuneration changed compared to Invisio's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

-kr13m

Mar 31 2022n/an/a

kr4m

Dec 31 2021kr8mkr3m

kr15m

Sep 30 2021n/an/a

kr41m

Jun 30 2021n/an/a

kr50m

Mar 31 2021n/an/a

kr59m

Dec 31 2020kr3mkr3m

kr61m

Sep 30 2020n/an/a

kr89m

Jun 30 2020n/an/a

kr99m

Mar 31 2020n/an/a

kr110m

Dec 31 2019kr5mkr4m

kr102m

Sep 30 2019n/an/a

kr62m

Jun 30 2019n/an/a

kr54m

Mar 31 2019n/an/a

kr36m

Dec 31 2018kr4mkr3m

kr48m

Sep 30 2018n/an/a

kr47m

Jun 30 2018n/an/a

kr52m

Mar 31 2018n/an/a

kr53m

Dec 31 2017kr4mkr4m

kr62m

Sep 30 2017n/an/a

kr64m

Jun 30 2017n/an/a

kr81m

Mar 31 2017n/an/a

kr91m

Dec 31 2016kr4mkr3m

kr92m

Sep 30 2016n/an/a

kr79m

Jun 30 2016n/an/a

kr75m

Mar 31 2016n/an/a

kr67m

Dec 31 2015kr4mkr4m

kr57m

Compensation vs Market: Lars's total compensation ($USD731.98K) is about average for companies of similar size in the Swedish market ($USD585.81K).

Compensation vs Earnings: Lars's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: IVSO's management team is considered experienced (4.7 years average tenure).


Board Members

Experienced Board: IVSO's board of directors are considered experienced (4.4 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

OM:IVSO Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
04 May 22Sellkr53,040Jan LarsenIndividual300kr176.80
18 Feb 22Buykr601,350Thomas LarssonIndividual5,000kr120.27
18 Feb 22Buykr102,425Charlott SamuelssonIndividual850kr120.50
14 Feb 22Buykr304,975Annika AnderssonIndividual2,500kr121.99
14 Feb 22Buykr367,500Joakim BirgerssonIndividual3,000kr122.50
04 Nov 21Buykr58,794Charlott SamuelssonIndividual350kr168.00
03 Nov 21Buykr51,000Charlott SamuelssonIndividual300kr170.00

Ownership Breakdown

What is the ownership structure of IVSO?
Owner TypeNumber of SharesOwnership Percentage
Private Companies10,6000.02%
Individual Insiders1,053,8082.3%
General Public1,622,7773.6%
Institutions42,361,50994.0%

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


Top Shareholders

Top 25 shareholders own 92.31% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
10%
SEB Investment Management AB
4,502,641SEK594.3m0%0.14%
9.82%
William Demant Fonden, Endownment Arm
4,423,459SEK583.9m0%no data
9.58%
Swedbank Robur Fonder AB
4,317,000SEK569.8m0%0.08%
8.99%
BNY Mellon Asset Management
4,049,802SEK534.6m0%0.01%
6.53%
State Street Global Advisors, Inc.
2,939,643SEK388.0m0%no data
5.22%
Handelsbanken Asset Management
2,350,088SEK310.2m0%0.06%
4.8%
JPMorgan Chase & Co, Private Banking and Investment Banking Investments
2,161,648SEK285.3m0%0.01%
4.57%
C Worldwide Asset Management FondsmÆGlerselskab A/S
2,057,825SEK271.6m0%0.22%
4.43%
Novo Holdings A/S
1,995,805SEK263.4m-50.15%0.03%
4.02%
AP Fonden 4
1,810,069SEK238.9m0%0.12%
3.8%
FMR LLC
1,710,350SEK225.8m-0.09%no data
2.63%
Northern Trust Global Investments
1,184,922SEK156.4m0%no data
2.43%
The Vanguard Group, Inc.
1,093,505SEK144.3m2.74%no data
2.16%
Capital Research and Management Company
972,800SEK128.4m0.34%no data
2.03%
AMF Fonder AB
914,545SEK120.7m0%0.04%
1.55%
Third Swedish National Pension Fund
700,000SEK92.4m0%0.06%
1.54%
Allianz Asset Management AG
693,346SEK91.5m0%0.01%
1.52%
Norges Bank Investment Management
684,905SEK90.4m0%no data
1.24%
Joh. Berenberg, Gossler & Co. KG, Asset Management Arm
560,747SEK74.0m28.9%0.22%
1.22%
Skandinaviska Enskilda Banken AB, Private Banking, Investment Banking, and Insurance Arm
549,966SEK72.6m0.79%0.13%
1.06%
BlackRock, Inc.
479,532SEK63.3m-0.18%no data
0.96%
Lars Hansen
431,511SEK57.0m8.83%no data
0.96%
Deka Investment GmbH
430,500SEK56.8m138.5%0.01%
0.68%
Montanaro Investment Managers Ltd.
308,500SEK40.7m0%0.23%
0.58%
Thomas Larsson
262,038SEK34.6m6.94%no data

Company Information

Invisio AB (publ)'s employee growth, exchange listings and data sources


Key Information

  • Name: Invisio AB (publ)
  • Ticker: IVSO
  • Exchange: OM
  • Founded: 1999
  • Industry: Aerospace and Defense
  • Sector: Capital Goods
  • Implied Market Cap: kr5.946b
  • Shares outstanding: 45.05m
  • Website: https://www.invisio.com

Number of Employees


Location

  • Invisio AB (publ)
  • PO 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

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/29 00:00
End of Day Share Price2022/09/29 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.