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Koss

Nasdaq:KOSS
Snowflake Description

Adequate balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KOSS
Nasdaq
$14M
Market Cap
  1. Home
  2. US
  3. Consumer Durables
Company description

Koss Corporation, together with its subsidiaries, designs, manufactures, and sells stereo headphones and related accessories in the United States, People’s Republic of China, Czech Republic, Sweden, Malaysia, Canada, Russia, and internationally. The last earnings update was 27 days ago. More info.


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KOSS Share Price and Events
7 Day Returns
3.2%
NasdaqCM:KOSS
1.2%
US Consumer Durables
1.4%
US Market
1 Year Returns
-2%
NasdaqCM:KOSS
-12.8%
US Consumer Durables
2.3%
US Market
KOSS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Koss (KOSS) 3.2% -8.5% -5.4% -2% -9.3% -58.8%
US Consumer Durables 1.2% 7.9% 8.9% -12.8% 17.6% 13.5%
US Market 1.4% 5.6% 5.7% 2.3% 44.2% 40.9%
1 Year Return vs Industry and Market
  • KOSS outperformed the Consumer Durables industry which returned -12.8% over the past year.
  • KOSS underperformed the Market in United States of America which returned 2.3% over the past year.
Price Volatility
KOSS
Industry
5yr Volatility vs Market
Related Companies

KOSS Value

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

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Koss to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our calculation method for this is changing soon.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Koss.

NasdaqCM:KOSS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 10.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqCM:KOSS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 7.3%
Consumer Durables Unlevered Beta Simply Wall St/ S&P Global 0.93
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.93 (1 + (1- 21%) (21.49%))
1.088
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.09
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.088 * 7.27%)
10.64%

Discounted Cash Flow Calculation for NasdaqCM:KOSS using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Koss is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqCM:KOSS DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (USD, Millions) 2.21 2.15 2.09 2.04 1.98
Source Est @ -2.66% Est @ -2.66% Est @ -2.66% Est @ -2.66% Est @ -2.66%
Present Value
Discounted (@ 10.64%)
2.00 1.76 1.55 1.36 1.20
Present value of next 5 years cash flows $7.85
NasdaqCM:KOSS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= $1.98 × (1 + 2.73%) ÷ (10.64% – 2.73%)
$25.76
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $25.76 ÷ (1 + 10.64%)5
$15.54
NasdaqCM:KOSS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $7.85 + $15.54
$23.39
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $23.39 / 7.40
$3.16
NasdaqCM:KOSS Discount to Share Price
Calculation Result
Value per share (USD) From above. $3.16
Current discount Discount to share price of $1.94
= -1 x ($1.94 - $3.16) / $3.16
38.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Koss is available for.
Intrinsic value
39%
Share price is $1.94 vs Future cash flow value of $3.16
Current Discount Checks
For Koss to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Koss's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Koss's share price is below the future cash flow value, but not 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 Koss's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Koss's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqCM:KOSS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-0.04
NasdaqCM:KOSS Share Price ** NasdaqCM (2019-02-21) in USD $1.94
United States of America Consumer Durables Industry PE Ratio Median Figure of 47 Publicly-Listed Consumer Durables Companies 12.07x
United States of America Market PE Ratio Median Figure of 3,045 Publicly-Listed Companies 17.39x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Koss.

NasdaqCM:KOSS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqCM:KOSS Share Price ÷ EPS (both in USD)

= 1.94 ÷ -0.04

-53.92x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Koss is loss making, we can't compare its value to the US Consumer Durables industry average.
  • Koss is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Koss's expected growth come at a high price?
Raw Data
NasdaqCM:KOSS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -53.92x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Consumer Durables Industry PEG Ratio Median Figure of 36 Publicly-Listed Consumer Durables Companies 1.15x
United States of America Market PEG Ratio Median Figure of 2,118 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Koss, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Koss's assets?
Raw Data
NasdaqCM:KOSS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $1.98
NasdaqCM:KOSS Share Price * NasdaqCM (2019-02-21) in USD $1.94
United States of America Consumer Durables Industry PB Ratio Median Figure of 70 Publicly-Listed Consumer Durables Companies 1.47x
United States of America Market PB Ratio Median Figure of 5,129 Publicly-Listed Companies 1.87x
NasdaqCM:KOSS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqCM:KOSS Share Price ÷ Book Value per Share (both in USD)

= 1.94 ÷ 1.98

0.98x

* Primary Listing of Koss.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Koss is good value based on assets compared to the US Consumer Durables industry average.
X
Value checks
We assess Koss's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Consumer Durables industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Consumer Durables industry average (and greater than 0)? (1 check)
  5. Koss has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

KOSS Future Performance

 How is Koss expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Koss has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
18.8%
Expected Consumer Durables industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Koss expected to grow at an attractive rate?
  • Unable to compare Koss's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Koss's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare Koss's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NasdaqCM:KOSS Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Consumer Durables Industry Earnings Growth Rate Market Cap Weighted Average 18.8%
United States of America Consumer Durables Industry Revenue Growth Rate Market Cap Weighted Average 5.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqCM:KOSS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqCM:KOSS Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 23 2 -0
2018-09-30 23 2 -3
2018-06-30 24 1 -3
2018-03-31 23 1 -4
2017-12-31 23 0 -4
2017-09-30 24 0 -1
2017-06-30 24 0 -1
2017-03-31 25 0 -1
2016-12-31 26 -1 1
2016-09-30 27 1 2
2016-06-30 26 0 1
2016-03-31 24 0 2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Koss is high growth as no earnings estimate data is available.
  • Unable to determine if Koss is high growth as no revenue estimate data is available.
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.
Raw Data
NasdaqCM:KOSS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Koss Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:KOSS Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -0.04
2018-09-30 -0.45
2018-06-30 -0.46
2018-03-31 -0.51
2017-12-31 -0.56
2017-09-30 -0.14
2017-06-30 -0.13
2017-03-31 -0.09
2016-12-31 0.18
2016-09-30 0.21
2016-06-30 0.19
2016-03-31 0.20

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Koss will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine Koss's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. Koss's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Consumer Durables companies here
  3. Koss's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Koss's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Koss has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

KOSS Past Performance

  How has Koss performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Koss's growth in the last year to its industry (Consumer Durables).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Koss does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Koss's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Koss's 1-year growth to the US Consumer Durables industry average as it is not currently profitable.
Earnings and Revenue History
Koss's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Koss Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:KOSS Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 22.74 -0.27 6.33 0.43
2018-09-30 23.22 -3.34 6.60 0.43
2018-06-30 23.52 -3.39 6.51 0.43
2018-03-31 22.55 -3.80 6.88 0.21
2017-12-31 22.99 -4.11 7.07 0.21
2017-09-30 23.79 -1.03 7.26 0.21
2017-06-30 24.05 -0.96 7.39 0.21
2017-03-31 25.05 -0.66 7.74 0.09
2016-12-31 26.28 1.33 7.88 0.09
2016-09-30 26.82 1.57 7.88 0.09
2016-06-30 26.00 1.39 7.87 0.09
2016-03-31 24.48 1.51 7.76
2015-12-31 24.48 0.70 7.57
2015-09-30 24.29 0.48 7.68
2015-06-30 24.23 0.48 7.90
2015-03-31 24.70 -2.03 7.35 1.02
2014-12-31 23.00 -2.11 7.78 1.02
2014-09-30 22.49 -5.73 8.55 1.02
2014-06-30 23.84 -5.55 9.44 1.02
2014-03-31 27.55 1.21 10.88 1.44
2013-12-31 31.56 1.35 11.64 1.44
2013-09-30 33.67 5.14 11.78 1.44
2013-06-30 35.76 5.43 11.91 1.44
2013-03-31 36.75 1.75 11.12 1.31
2012-12-31 36.68 2.53 11.02 1.31
2012-09-30 38.03 3.03 10.94 1.31
2012-06-30 37.87 2.94 10.81 1.31
2012-03-31 37.24 3.80 11.86

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Koss has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Koss has efficiently used its assets last year compared to the US Consumer Durables industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Koss improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Koss's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Consumer Durables industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. 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.
Koss 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.

Full details on the Past part of the Simply Wall St company analysis model.

KOSS Health

 How is Koss's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Koss's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Koss is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Koss's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Koss'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 checks below.
Assets
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 4.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, 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.
Raw Data

All data from Koss Company Filings, last reported 1 month ago.

NasdaqCM:KOSS Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 14.65 2.98 2.25
2018-09-30 14.41 3.04 1.70
2018-06-30 14.52 0.00 1.08
2018-03-31 14.09 0.00 1.57
2017-12-31 14.82 0.00 0.46
2017-09-30 17.67 0.00 0.24
2017-06-30 17.57 0.00 0.43
2017-03-31 17.56 0.00 0.75
2016-12-31 18.59 0.00 0.81
2016-09-30 18.36 0.00 0.46
2016-06-30 18.19 0.00 0.74
2016-03-31 17.88 0.00 0.92
2015-12-31 16.88 0.00 2.13
2015-09-30 16.37 0.40 0.18
2015-06-30 16.35 0.00 1.00
2015-03-31 15.84 0.00 1.04
2014-12-31 15.63 0.00 0.75
2014-09-30 15.31 1.30 0.13
2014-06-30 15.24 0.00 1.90
2014-03-31 17.19 0.00 2.75
2013-12-31 17.49 0.00 2.89
2013-09-30 21.21 0.00 4.45
2013-06-30 21.39 0.00 0.86
2013-03-31 17.03 0.00 0.51
2012-12-31 17.21 1.20 0.19
2012-09-30 17.17 2.20 0.20
2012-06-30 17.10 0.00 0.05
2012-03-31 16.49 1.50 0.12
  • Koss's level of debt (20.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 20.3% today).
  • Debt is well covered by operating cash flow (67.1%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on Koss's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Koss's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Koss has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

KOSS Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Koss dividends.
If you bought $2,000 of Koss shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Koss's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Koss's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqCM:KOSS Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Consumer Durables Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 2.2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2001 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqCM:KOSS Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2016-01-29 0.000 0.000
2016-01-28 0.000 0.000
2015-10-30 0.000 0.000
2015-10-29 0.000 0.000
2015-08-28 0.000 0.000
2015-08-20 0.000 0.000
2015-05-08 0.000 0.000
2015-05-07 0.000 0.000
2015-01-30 0.000 0.000
2015-01-29 0.000 0.000
2014-10-31 0.000 0.000
2014-10-22 0.000 0.000
2014-08-28 0.000 0.000
2014-08-27 0.000 0.000
2014-05-15 0.240 7.773
2014-05-14 0.240 5.451
2014-02-14 0.240 5.061
2014-02-13 0.240 4.177
2013-08-06 0.240 4.615
2013-05-10 0.240 4.810
2013-04-25 0.240 4.986
2012-10-24 0.240 4.852
2012-08-23 0.240 4.944
2012-04-26 0.240 4.625
2012-01-26 0.240 4.333
2011-10-25 0.240 4.537
2011-08-30 0.240 4.156
2011-04-21 0.240 3.955
2011-01-20 0.240 3.528
2010-08-19 0.240 4.503
2010-05-17 0.240 4.428
2010-02-25 0.240 4.280
2009-10-13 0.260 5.231
2009-07-21 0.260 4.124
2009-05-08 0.260 3.863
2009-04-15 0.260 3.689
2009-02-23 0.260 4.079

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Koss has not reported any payouts.
  • Unable to verify if Koss's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Koss's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Koss has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Koss's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Koss afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Koss has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

KOSS Management

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

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.
CEO
Michael Koss
COMPENSATION $484,524
AGE 64
TENURE AS CEO 28.1 years
CEO Bio

Mr. Michael J. Koss has been the President and Chief Operating Officer of Koss Corporation since 1987 and its Chief Executive Officer since 1991. During the past 25 years, Mr. Koss served at Koss Corp., in a variety of senior management positions including Marketing, Operations and Corporate Development. He also served as the Chief Financial Officer of Koss Corp. from 1987 to January 2010. He has been the Chairman of Koss Corporation since 2015 and has been its Director since 1985. He has been an Independent Director of Strattec Security Corp. since 1995. He served as the Vice Chairman of Koss Corporation since 1998. He served as a Non Executive Director of Intelligent Energy Holdings PLC. Mr. Koss served as a Director of Milwaukee Insurance Group, Inc., since 1991 and Genius Products Inc. from September 1, 2004 to October 20, 2005.

CEO Compensation
  • Michael's compensation has been consistent with company performance over the past year.
  • Michael's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Koss management team in years:

21.1
Average Tenure
61
Average Age
  • The average tenure for the Koss management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Michael Koss

TITLE
Chairman
COMPENSATION
$485K
AGE
64
TENURE
28.1 yrs

David Smith

TITLE
Executive VP & CFO
COMPENSATION
$155K
AGE
63
TENURE
9.1 yrs

John Koss

TITLE
Vice President of Sales
COMPENSATION
$416K
AGE
61
TENURE
31.1 yrs

Michael Koss

TITLE
Vice President of Marketing & Product
COMPENSATION
$203K
AGE
33
TENURE
3.1 yrs

Lenore Lillie

TITLE
Vice President of Operations
COMPENSATION
$245K
AGE
59
TENURE
21.1 yrs
Board of Directors Tenure

Average tenure and age of the Koss board of directors in years:

4.1
Average Tenure
64
Average Age
  • The tenure for the Koss board of directors is about average.
Board of Directors

Michael Koss

TITLE
Chairman
COMPENSATION
$485K
AGE
64
TENURE
4.1 yrs

Thomas Doerr

TITLE
Lead Director
COMPENSATION
$50K
AGE
74
TENURE
4.1 yrs

Ted Nixon

TITLE
Director
COMPENSATION
$50K
AGE
66
TENURE
13.1 yrs

Steve Leveen

TITLE
Director
COMPENSATION
$29K
AGE
63
TENURE
3.3 yrs

William Sweasy

TITLE
Director
COMPENSATION
$35K
AGE
64
TENURE
3.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Koss's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Koss has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

KOSS News

Simply Wall St News

How Much Did Koss Corporation's (NASDAQ:KOSS) CEO Pocket Last Year?

Michael Koss became the CEO of Koss Corporation (NASDAQ:KOSS) in 1991. … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Michael Koss's Compensation Compare With Similar Sized Companies?

Simply Wall St -

What Does Koss Corporation's (NASDAQ:KOSS) Ownership Structure Look Like?

Every investor in Koss Corporation (NASDAQ:KOSS) should be aware of the most powerful shareholder groups. … Generally speaking, as a company grows, institutions will increase their ownership. … Let's take a closer look to see what the different types of shareholder can tell us about KOSS

Simply Wall St -

Who Are The Largest Shareholders In Koss Corporation (NASDAQ:KOSS)?

See our latest analysis for Koss NasdaqCM:KOSS Ownership_summary Apr 25th 18 Institutional Ownership KOSS's 13.17% institutional ownership seems enough to cause large share price movements in the case of significant share sell-off or acquisitions by institutions, particularly when there is a low level of public shares available on the market to trade. … Insider Ownership Another important group of shareholders are company insiders. … Next Steps: The company's high institutional ownership makes margin of safety a very important consideration to existing investors since long bull and bear trends often emerge when these big-ticket investors see a change in long-term potential of the company.

Simply Wall St -

Should You Worry About Koss Corporation's (NASDAQ:KOSS) CEO Pay Check?

Therefore I will use earnings as a proxy of Koss's performance in the past year. … In the past year, KOSS delivered negative earnings of -US$4.11M , compared to the previous year's positive earnings. … Usually I would look at market cap and earnings as a proxy for performance, however, KOSS's negative earnings lower the usefulness of my formula.

Simply Wall St -

Who Owns Koss Corporation (NASDAQ:KOSS)?

Insider Ownership Insiders form another group of important ownership types as they manage the company's operations and decide the best use of capital. … This level of ownership gives retail investors the power to sway key policy decisions such as board composition, executive compensation, and potential acquisitions. … What this means for you: The company's high institutional ownership makes margin of safety a very important consideration to existing investors since long bull and bear trends often emerge when these big-ticket investors see a change in long-term potential of the company.

Simply Wall St -

Should You Invest In Consumer Sector And Koss Corporation (NASDAQ:KOSS)?

NasdaqCM:KOSS PE PEG Gauge Jan 11th 18 The household durables industry is trading at a PE ratio of 18x, in-line with the US stock market PE of 20x. … If your initial investment thesis is around the growth prospects of Koss, there are other household durables companies that have delivered higher growth, and perhaps trading at a discount to the industry average. … Although its growth has delivered lower growth relative to its household durables peers in the near term, the market may be pessimistic on the stock, leading to a potential undervaluation.

Simply Wall St -

What’s Installed For Koss Corporation (NASDAQ:KOSS)?

Below, I will examine the sector growth prospects, and also determine whether Koss is a laggard or leader relative to its retail sector peers. … If your initial investment thesis is around the growth prospects of Koss, there are other retail companies that have delivered higher growth, and perhaps trading at a discount to the industry average. … Although its growth has delivered lower growth relative to its retail peers in the near term, the market may be pessimistic on the stock, leading to a potential undervaluation.

Simply Wall St -

Is Koss Corporation's (NASDAQ:KOSS) CEO Paid Enough To Stay Motivated?

View our latest analysis for Koss What has been the trend in KOSS's earnings? … In the past year, KOSS produced negative earnings of -$1.0M , compared to the previous year's positive earnings. … Usually I would look at market cap and earnings as a proxy for performance, however, KOSS's negative earnings reduces the usefulness of my formula.

Simply Wall St -

What You Must Know About Koss Corporation's (KOSS) Financial Health

Koss Corporation (NASDAQ:KOSS), which has zero-debt on its balance sheet, can maximize capital returns by increasing debt due to its lower cost of capital. … However, the trade-off is KOSS will have to follow strict debt obligations which will reduce its financial flexibility. … See our latest analysis for KOSS Is KOSS growing fast enough to value financial flexibility over lower cost of capital?

Simply Wall St -

How Should You Think About Koss Corporation's (KOSS) Risks?

If you are looking to invest in Koss Corporation’s (NASDAQ:KOSS), or currently own the stock, then you need to understand its beta in order to understand how it can affect the risk of your portfolio. … Koss's beta of 0.05 indicates that the stock value will be less variable compared to the whole stock market. … KOSS's beta implies it may be a stock that investors with high-beta portfolios might find relevant if they wanted to reduce their exposure to market risk, especially during times of downturns.

Simply Wall St -

KOSS Company Info

Map
Description

Koss Corporation, together with its subsidiaries, designs, manufactures, and sells stereo headphones and related accessories in the United States, People’s Republic of China, Czech Republic, Sweden, Malaysia, Canada, Russia, and internationally. It offers high-fidelity headphones, wireless Bluetooth headphones, wireless Bluetooth speakers, computer headsets, telecommunications headsets, and active noise canceling headphones. The company sells its products through national retailers, distributors, audio specialty stores, Internet, direct mail catalogs, regional department store chains, discount department stores, grocery stores, electronics retailers, military exchanges, and prisons under the Koss name, as well as private label. It also sells its products to distributors for resale to school systems, as well as directly to other manufacturers. Koss Corporation was founded in 1953 and is based in Milwaukee, Wisconsin.

Details
Name: Koss Corporation
KOSS
Exchange: NasdaqCM
Founded: 1953
$13,847,033
7,404,831
Website: http://www.koss.com
Address: Koss Corporation
4129 North Port Washington Avenue,
Milwaukee,
Wisconsin, 53212,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqCM KOSS Common Stock Nasdaq Capital Market US USD 02. Jan 1980
Number of employees
Current staff
Staff numbers
32
Koss employees.
Industry
Consumer Electronics
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/21 23:41
End of day share price update: 2019/02/21 00:00
Last earnings filing: 2019/01/25
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.