LiqTech International, Inc., a clean technology company, provides technologies for gas and liquid purification by manufacturing ceramic silicon carbide filters.
The last earnings update was 66 days ago.
Discounted Cash Flow Calculation for NasdaqCM:LIQT using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for
is arrived at by discounting future cash flows to their present value using the 2 stage method.
We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
NasdaqCM:LIQT DCF 1st Stage: Next 10 year cash flow forecast
Amount off the current price
is available for.
Share price is
vs Future cash flow value of
Current Discount Checks
to be considered undervalued it must be available for at least 20% below the
current price. Less than 40% is even better.
LiqTech International's share price is below the future cash flow value, and at a moderate discount (> 20%).
LiqTech International's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.
The amount the stock market is willing to pay for
is considered below, and whether this is a fair price.
Price based on past earnings
LiqTech International's earnings available for a low price, and how does
this compare to other companies in the same industry?
LiqTech International's earnings are expected to grow significantly at over 20% yearly.
LiqTech International's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can
be gauged below. We look back 3 years and see if they were any good at
predicting what actually occurred. We also show the highest and lowest estimates
looking forward to see if there is a wide range.
LiqTech International's performance over the past 5 years by checking for:
Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the
industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the
past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent
earnings report. Some checks require at least 3 or 5 years worth of data.
has a total score of
0/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
A company's financial position is much like your own financial position,
it includes everything you own
The boxes below represent the relative size of what makes up
LiqTech International's finances.
The net worth of a company is the difference between its assets and liabilities.
LiqTech International is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
LiqTech International's cash and other short term assets cover its long term commitments.
This treemap shows a more detailed breakdown of
LiqTech International's finances. If any of them are yellow this
indicates they may be out of proportion and red means they relate to one of the
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
High level of physical assets or inventory.
Debt is covered by short term assets, assets are 2386.2x debt.
Nearly all companies have debt. Debt in itself isn’t
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.
The graphic below shows equity (available funds) and debt, we ideally want to
see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and
whether the level has increased over the past 5 years.
Management is one of the most important areas of a company. We look at
unreasonable CEO compensation, how long the team and board of directors have
been around for and insider trading.
TENURE AS CEO
Mr. Sune Mathiesen serves as the Chief Executive Officer of Provital Solutions A/S. Mr. Mathiesen has been the Chief Executive Officer of LiqTech International, Inc. since July 29, 2014 and served as its Chief Financial Officer until 2018. He joined LiqTech International through recent acquisition of Provital and he has long experience in executive management, technical sales and turnarounds greatly benefit LiqTech. His leadership helped Provital develop and successfully market a unique range of small footprint, cost-effective filtration solutions to the swimming pool and large water park markets. Prior to Provital, Mr. Mathiesen served as a Country Manager for Broen A/S. He has been a Director of LiqTech International, Inc. since July 29, 2014. He holds a degree in commercial science from Via College in Randers, Denmark.
Sune's compensation has increased whilst company is loss making.
Sune's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the
management team in years:
The average tenure for the LiqTech International management team is over 5 years, this suggests they are a seasoned and experienced team.
CEO & Director
Chief Financial Officer
Chief Operating Officer
Chief Executive Officer of Liqtech North America Inc
Board of Directors Tenure
Average tenure and age of the
board of directors in years:
The average tenure for the LiqTech International board of directors is less than 3 years, this suggests a new board.
Board of Directors
Chairman of the Board
CEO & Director
Who owns this company?
Recent Insider Trading
No 3 month individual insider trading information.
LiqTech International, Inc., a clean technology company, provides technologies for gas and liquid purification by manufacturing ceramic silicon carbide filters. The company manufactures and sells ceramic silicon carbide membranes and systems for liquid filtration under the LiqTech, Cometas, and Provital brand names, which are used for the filtration of produced water, pre-filtration of reverse osmosis drinking water, industrial applications, producing clean drinking water, and pool and spa water, as well as marine scrubber bleed water. It also offers diesel particulate filters for exhaust emission control solutions to the verified retrofit and the original equipment manufacturer market; and kiln furniture to support ceramics that create additional space to maximize the number of items for each firing. LiqTech International, Inc. sells its products primarily to industrial customers in the United States, Canada, Europe, Asia, South America, and Australia. The company was formerly known as Blue Moose Media, Inc. and changed its name to LiqTech International, Inc. in October 2011. LiqTech International, Inc. was founded in 2004 and is headquartered in Ballerup, Denmark.
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