Koss

Nasdaq:KOSS

Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.

KOSS

Nasdaq

$14M

Market Cap

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Last updated 2019/02/13 23:44

Company description

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Koss has significant price volatility in the past 3 months.

KOSS Share Price and Events

7 Day Returns

1.1%

NasdaqCM:KOSS

2.8%

US Consumer Durables

0.5%

US Market

1 Year Returns

-7.8%

NasdaqCM:KOSS

-12%

US Consumer Durables

US Market

KOSS Shareholder Return

	7 Day	30 Day	90 Day	1 Year	3 Year	5 Year
Koss (KOSS)	1.1%	-7.4%	-4.6%	-7.8%	-10%	-63.4%
US Consumer Durables	2.8%	6.4%	12.3%	-12%	26.5%	22.6%
US Market	0.5%	6.3%	1.9%	2%	45.1%	40.5%

1 Year Return vs Industry and Market

KOSS outperformed the Consumer Durables industry which returned -12% over the past year.
KOSS underperformed the Market in United States of America which returned 2% 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

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	0.92
Re-levered Beta	= Unlevered beta (1 + (1- tax rate) (Debt/Equity)) = 0.923 (1 + (1- 21%) (21.27%))	1.078
Levered Beta	Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm)	1.08
Discount Rate/ Cost of Equity	= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium) = 2.73% + (1.078 * 7.27%)	10.57%

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 (@ 10.57%)	2.00	1.76	1.55	1.36	1.20
Present value of next 5 years cash flows	$7.87

NasdaqCM:KOSS DCF 2nd Stage: Terminal Value
	Calculation	Result
Terminal Value	= FCF₂₀₂₃ × (1 + g) ÷ (Discount Rate – g) = $1.98 × (1 + 2.73%) ÷ (10.57% – 2.73%)	$25.98
Present Value of Terminal Value	= Terminal Value ÷ (1 + r)⁵ = $25.98 ÷ (1 + 10.57%)⁵	$15.72

NasdaqCM:KOSS Total Equity Value
	Calculation	Result
Total Equity Value	= Present value of next 5 years cash flows + Terminal Value = $7.87 + $15.72	$23.59
Equity Value per Share (USD)	= Total value / Shares Outstanding = $23.59 / 7.40	$3.19

NasdaqCM:KOSS Discount to Share Price
	Calculation	Result
Value per share (USD)	From above.	$3.19
Current discount	Discount to share price of $1.89 = -1 x ($1.89 - $3.19) / $3.19	40.7%

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

Current Discount

Amount off the current price Koss is available for.

41%

Share price is $1.89 vs Future cash flow value of $3.19

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, 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 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 (2019-02-13) in USD	$1.89
United States of America Consumer Durables Industry PE Ratio	Median Figure of 49 Publicly-Listed Consumer Durables Companies	12.26x
United States of America Market PE Ratio	Median Figure of 3,046 Publicly-Listed Companies	16.95x

* 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) = 1.89 ÷ -0.04	-52.53x

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	-52.53x
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 37 Publicly-Listed Consumer Durables Companies	1.05x
United States of America Market PEG Ratio	Median Figure of 2,117 Publicly-Listed Companies	1.36x

*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 (2019-02-13) in USD	$1.89
United States of America Consumer Durables Industry PB Ratio	Median Figure of 70 Publicly-Listed Consumer Durables Companies	1.41x
United States of America Market PB Ratio	Median Figure of 5,122 Publicly-Listed Companies	1.81x

NasdaqCM:KOSS PB (Price to Book) Ratio Calculation
	Calculation	Outcome
PB Ratio	= NasdaqCM:KOSS Share Price ÷ Book Value per Share (both in USD) = 1.89 ÷ 1.98	0.96x

* 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.

Show me more potentially undervalued companies in the Consumer Durables industry

Value checks

We assess Koss's value by looking at:

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. )
Is the PE ratio less than the market average, and/ or less than the Consumer Durables industry average (and greater than 0)? (2 checks)
Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
Is the PB ratio less than the Consumer Durables industry average (and greater than 0)? (1 check)

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!

17.2%

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	17.2%
United States of America Consumer Durables Industry Revenue Growth Rate	Market Cap Weighted Average	5.1%
United States of America Market Earnings Growth Rate	Market Cap Weighted Average	13.4%
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.

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:

Examine whether Koss is trading at Koss'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
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
Koss's competitive advantages and company strategy can generally be found in its financial reports archived here.
Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide

Future performance checks

We assess Koss's future performance by looking at:

Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
Is the annual earnings growth rate expected to be above 20%? (1 check)
Is the annual revenue growth rate expected to be above 20%? (1 check)
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.

Past performance checks

We assess Koss'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 Consumer Durables 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.
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.

Show me more healthy companies in the Consumer Durables industry

Financial health checks

We assess Koss's financial health by checking for:

Are short term assets greater than short term liabilities? (1 check)
Are short term assets greater than long term liabilities? (1 check)
Has the debt to equity ratio increased in the past 5 years? (1 check)
Is the debt to equity ratio over 40%? (1 check)
Is the debt covered by operating cash flow? (1 check)
Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)

For companies that are loss making and have been so on average in the past we replace the last 2 checks with:

Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
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

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 1997 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	3.6%

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
2009-02-18	0.260	4.161

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.

Income/ dividend checks

We assess Koss's dividend by checking for:

Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
Is current dividend yield above the bottom 25% of dividend payers? (1 check)
Is current dividend yield above the top 25% of dividend payers? (1 check)
Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
If they have paid a dividend for 10 years has it increased in this time? (1 check)
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)

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

Average Age

The average tenure for the Koss management team is over 5 years, this suggests they are a seasoned and experienced team.

21.1 yrs

Board of Directors Tenure

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

4.1

Average Tenure

Average Age

The tenure for the Koss board of directors is about average.

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 ($)	Value ($)

Management checks

We assess Koss's management by checking for:

Is the CEO's compensation unreasonable compared to market cap? (1 check)
Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
Is the average tenure of the management team less than 2 years? (1 check)
Is the average tenure of the board of directors team less than 3 years? (1 check)

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

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 - 4 months ago – Full article

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 - 9 months ago – Full article

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 - 10 months ago – Full article

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.