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RaySearch Laboratories

Executive Summary

RaySearch Laboratories AB (publ) develops software solutions for cancer treatment in Sweden and internationally.


Snowflake Analysis

Excellent balance sheet with reasonable growth potential.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: RAY B's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-2.7%

RAY B

1.0%

SE Healthcare Services

4.9%

SE Market


1 Year Return

-33.6%

RAY B

-30.5%

SE Healthcare Services

8.2%

SE Market

Return vs Industry: RAY B underperformed the Swedish Healthcare Services industry which returned -32% over the past year.

Return vs Market: RAY B underperformed the Swedish Market which returned 5.4% over the past year.


Shareholder returns

RAY BIndustryMarket
7 Day-2.7%1.0%4.9%
30 Day16.2%15.3%6.9%
90 Day0.4%6.9%-1.5%
1 Year-33.6%-33.6%-30.1%-30.5%9.6%8.2%
3 Year-66.0%-66.0%-58.4%-58.6%12.7%-2.6%
5 Year-30.6%-30.8%57.7%48.0%30.0%4.7%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

38.65x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: RAY B (SEK83.1) is trading above our estimate of fair value (SEK17)

Significantly Below Fair Value: RAY B is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: RAY B is good value based on its PE Ratio (38.7x) compared to the Healthcare Services industry average (40.2x).

PE vs Market: RAY B is poor value based on its PE Ratio (38.7x) compared to the Swedish market (18.4x).


Price to Earnings Growth Ratio

PEG Ratio: RAY B is poor value based on its PEG Ratio (1.7x)


Price to Book Ratio

PB vs Industry: RAY B is good value based on its PB Ratio (3.8x) compared to the SE Healthcare Services industry average (4.7x).


Next Steps

Future Growth

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

22.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: RAY B's forecast earnings growth (22.6% per year) is above the savings rate (0.5%).

Earnings vs Market: RAY B's earnings (22.6% per year) are forecast to grow faster than the Swedish market (16.9% per year).

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

Revenue vs Market: RAY B's revenue (12.3% per year) is forecast to grow faster than the Swedish market (5.9% per year).

High Growth Revenue: RAY B's revenue (12.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: RAY B's Return on Equity is forecast to be low in 3 years time (11.6%).


Next Steps

Past Performance

How has RaySearch Laboratories performed over the past 5 years?

-2.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: RAY B has high quality earnings.

Growing Profit Margin: RAY B's current net profit margins (9.5%) are lower than last year (12.3%).


Past Earnings Growth Analysis

Earnings Trend: RAY B's earnings have declined by -2.7% per year over the past 5 years.

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

Earnings vs Industry: RAY B had negative earnings growth (-12.2%) over the past year, making it difficult to compare to the Healthcare Services industry average (-1.5%).


Return on Equity

High ROE: RAY B's Return on Equity (9.9%) is considered low.


Next Steps

Financial Health

How is RaySearch Laboratories's financial position?


Financial Position Analysis

Short Term Liabilities: RAY B's short term assets (SEK620.4M) exceed its short term liabilities (SEK384.8M).

Long Term Liabilities: RAY B's short term assets (SEK620.4M) exceed its long term liabilities (SEK207.4M).


Debt to Equity History and Analysis

Debt Level: RAY B's debt to equity ratio (4.6%) is considered satisfactory.

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

Debt Coverage: RAY B's debt is well covered by operating cash flow (979.1%).

Interest Coverage: RAY B's interest payments on its debt are well covered by EBIT (14.9x coverage).


Balance Sheet


Next Steps

Dividend

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

0.87%

Forecast Dividend Yield


Dividend Yield vs Market

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

High Dividend: Unable to evaluate RAY B's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if RAY B's dividends per share have been stable in the past.

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


Current Payout to Shareholders

Dividend Coverage: RAY B is not paying a notable dividend for the Swedish market.


Future Payout to Shareholders

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


Next Steps

Management

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

4.7yrs

Average management tenure


CEO

Johan Löf (50yo)

20.33yrs

Tenure

kr8,210,000

Compensation

Dr. Johan Löf has been the Chief Executive Officer and President of Raysearch Laboratories AB (Publ) since 2000. Dr. Löf serves as the Chief Executive Officer of RaySearch Medical AB. Dr. Löf has been a Di ...


CEO Compensation Analysis

Compensation vs Market: Johan's total compensation ($USD850.77K) is above average for companies of similar size in the Swedish market ($USD426.49K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Johan Löf
Founder20.33yrskr8.21m19.43% SEK517.6m
Peter Thysell
Chief Financial Officer4.83yrsno data0.0029% SEK77.8k
Kjell Eriksson
Chief Science Officer4.67yrsno data0.070% SEK1.9m
Petra Jansson
General Counsel2.83yrsno data0.0029% SEK77.8k
Peter Kemlin
Director of Sales & Marketingno datano data0.0041% SEK108.7k
Björn Hårdemark
Deputy Chief Executive Officer4.67yrsno data0.052% SEK1.4m
Fredrik Löfman
Head of Machine Learning0.33yrno datano data
Marc Mlyn
President of Raysearch Americas Incno datano datano data

4.7yrs

Average Tenure

46yo

Average Age

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


Board Members

NamePositionTenureCompensationOwnership
Johan Löf
Founder20.33yrskr8.21m19.43% SEK517.6m
Hans Wigzell
Independent Director16yrskr250.00kno data
Carl Bergendal
Independent Director20.33yrskr480.00k3.5% SEK93.4m
Lars Wollung
Chairman of the Board1yrno datano data
Radhe Mohan
Member of Scientific Advisory Board17.33yrsno datano data
Anders Forsgren
Member of Scientific Advisory Boardno datano datano data
Anders Brahme
Member of Scientific Advisory Boardno datano data3.94% SEK104.9m
David Jaffray
Member of Scientific Advisory Boardno datano datano data
Johanna Öberg
Independent Director3yrskr250.00k0.00099% SEK26.4k
Britta Wallgren
Independent Director2yrskr147.00k0.020% SEK543.9k

16.0yrs

Average Tenure

58yo

Average Age

Experienced Board: RAY B's board of directors are seasoned and experienced ( 16 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.


Top Shareholders

Company Information

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


Key Information

  • Name: RaySearch Laboratories AB (publ)
  • Ticker: RAY B
  • Exchange: OM
  • Founded: 2000
  • Industry: Health Care Technology
  • Sector: Healthcare
  • Market Cap: kr2.664b
  • Shares outstanding: 34.28m
  • Website: https://www.raysearchlabs.com

Number of Employees


Location

  • RaySearch Laboratories AB (publ)
  • Sveavägen 44
  • Stockholm
  • Stockholm County
  • 111 34
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
RAY BOM (OMX Nordic Exchange Stockholm)YesClass B SharesSESEKJun 2003
0GRZLSE (London Stock Exchange)YesClass B SharesGBSEKJun 2003
RSLB.FOTCPK (Pink Sheets LLC)YesClass B SharesUSUSDJun 2003
27RDB (Deutsche Boerse AG)YesClass B SharesDEEURJun 2003
RAYBSBATS-CHIXE (BATS 'Chi-X Europe')YesClass B SharesGBSEKJun 2003

Biography

RaySearch Laboratories AB (publ) develops software solutions for cancer treatment in Sweden and internationally. It develops and markets RayStation, a treatment planning system for treatment activities, such as automated planning, adaptive therapy, multi-criteria optimization, fast and accurate dose computations, reduce OAR dose, robustness, the physician's toolbox, machine learning, VMAT, IMRT, 3D-CRT, virtual simulation, electron beam therapy, tomo therapy, stereotactic, proton therapy, carbon ion therapy, and boron neutron capture therapy. The company also develops RayPlan, a treatment planning system for supporting a range of treatment planning activities for 3D-CRT, IMRT, VMAT, tomotherapy, and electron beam radiation therapy; and RayCare, a oncology information system for the treatment of cancer comprising oncology treatment activities, including digital oncology workflows, rule-based scheduling, state-of-the-art software platform, enterprise-wide integration, adaptive therapy, and data handling and machine learning. In addition, it provides training courses, as well as customer support services. The company was founded in 2000 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 Analysis2020/05/28 21:04
End of Day Share Price2020/05/28 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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.