NasdaqGS:ICUI

Stock Analysis Report

Executive Summary

ICU Medical, Inc. develops, manufactures, and sells medical devices used in vascular therapy, critical care, and oncology applications worldwide.


Snowflake Analysis

Flawless balance sheet and fair value.


Similar Companies

Share Price & News

How has ICU Medical's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ICUI has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.5%

ICUI

1.3%

US Medical Equipment

1.7%

US Market


1 Year Return

-20.9%

ICUI

27.0%

US Medical Equipment

23.2%

US Market

Return vs Industry: ICUI underperformed the US Medical Equipment industry which returned 28.4% over the past year.

Return vs Market: ICUI underperformed the US Market which returned 24.7% over the past year.


Shareholder returns

ICUIIndustryMarket
7 Day0.5%1.3%1.7%
30 Day1.3%3.7%4.2%
90 Day21.0%10.1%11.9%
1 Year-20.9%-20.9%28.0%27.0%25.8%23.2%
3 Year40.7%40.7%94.2%88.6%52.8%42.9%
5 Year120.2%120.2%125.6%101.5%75.2%55.8%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is ICU Medical undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ICUI ($189.01) is trading below our estimate of fair value ($542.67)

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


Price To Earnings Ratio

PE vs Industry: ICUI is poor value based on its PE Ratio (53.3x) compared to the Medical Equipment industry average (46.3x).

PE vs Market: ICUI is poor value based on its PE Ratio (53.3x) compared to the US market (18.9x).


Price to Earnings Growth Ratio

PEG Ratio: ICUI is poor value based on its PEG Ratio (2.5x)


Price to Book Ratio

PB vs Industry: ICUI is good value based on its PB Ratio (2.9x) compared to the US Medical Equipment industry average (4.1x).


Next Steps

Future Growth

How is ICU Medical forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

21.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ICUI's forecast earnings growth (21.5% per year) is above the savings rate (1.7%).

Earnings vs Market: ICUI's earnings (21.5% per year) are forecast to grow faster than the US market (14.3% per year).

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

Revenue vs Market: ICUI's revenue is expected to decline over the next 3 years (-0.6% per year).

High Growth Revenue: ICUI's revenue is forecast to decline over the next 3 years (-0.6% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ICUI's Return on Equity is forecast to be low in 3 years time (10.2%).


Next Steps

Past Performance

How has ICU Medical performed over the past 5 years?

10.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ICUI has a large one-off loss of $83.2M impacting its September 30 2019 financial results.

Growing Profit Margin: ICUI's current net profit margins (5.7%) are lower than last year (6%).


Past Earnings Growth Analysis

Earnings Trend: ICUI's earnings have grown by 10% per year over the past 5 years.

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

Earnings vs Industry: ICUI had negative earnings growth (-14.9%) over the past year, making it difficult to compare to the Medical Equipment industry average (31%).


Return on Equity

High ROE: ICUI's Return on Equity (5.4%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is ICU Medical's financial position?


Financial Position Analysis

Short Term Liabilities: ICUI's short term assets ($944.5M) exceed its short term liabilities ($255.4M).

Long Term Liabilities: ICUI's short term assets ($944.5M) exceed its long term liabilities ($42.0M).


Debt to Equity History and Analysis

Debt Level: ICUI is debt free.

Reducing Debt: ICUI had no debt 5 years ago.

Debt Coverage: ICUI has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: ICUI has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: ICUI has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if ICUI's debt is covered by short term assets.


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.6%industryaverage1.2%forecastin3Yearsn/a

Current dividend yield vs market & industry

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

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


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

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


Next Steps

Management

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

2.9yrs

Average management tenure


CEO

Vivek Jain (47yo)

5.9yrs

Tenure

US$5,962,408

Compensation

Mr. Vivek Jain has been Chairman and Chief Executive Officer of ICU Medical, Inc. since February 13, 2014. Mr. Jain served as the President of Procedural Solutions at CareFusion Corporation from August 201 ...


CEO Compensation Analysis

Compensation vs Market: Vivek's total compensation ($USD5.96M) is about average for companies of similar size in the US market ($USD4.99M).

Compensation vs Earnings: Vivek's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Management Age and Tenure

2.9yrs

Average Tenure

53.5yo

Average Age

Experienced Management: ICUI's management team is considered experienced (2.9 years average tenure).


Board Age and Tenure

5.0yrs

Average Tenure

58yo

Average Age

Experienced Board: ICUI's board of directors are considered experienced (5 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellUS$462,24105 Sep 19
Virginia Sanzone
EntityIndividual
Role
Chief Legal Officer
Corporate VP
Shares3,000
Max PriceUS$154.08
SellUS$719,09111 Jun 19
Kevin McGrody
EntityIndividual
Role
Controller
Controller
Shares3,101
Max PriceUS$231.89
SellUS$1,217,13914 May 19
Christian Voigtlander
EntityIndividual
Role
Chief Operating Officer
Chief Operating Officer
Shares5,348
Max PriceUS$228.07
SellUS$343,52818 Mar 19
Robert Swinney
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,464
Max PriceUS$234.65

Ownership Breakdown

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


Management Team

  • Steve Riggs (60yo)

    Executive Officer of Special Project Opertions

    • Compensation: US$1.05m
  • Scott Lamb (56yo)

    CFO & Treasurer

    • Tenure: 11.9yrs
    • Compensation: US$1.63m
  • Vivek Jain (47yo)

    Chairman of the Board & CEO

    • Tenure: 5.9yrs
    • Compensation: US$5.96m
  • Kevin McGrody

    Controller

    • Tom McCall (61yo)

      Corporate Vice President of Marketing & Communications and GM of Critical Care

      • Tenure: 2.9yrs
      • Compensation: US$980.28k
    • Virginia Sanzone (44yo)

      Corporate VP

      • Tenure: 2yrs
      • Compensation: US$1.47m
    • Christian Voigtlander (51yo)

      Chief Operating Officer

      • Tenure: 2yrs
      • Compensation: US$2.74m

    Board Members

    • Elisha Finney (58yo)

      Independent Director

      • Tenure: 4yrs
      • Compensation: US$267.05k
    • George Lopez (71yo)

      Director

      • Tenure: 36yrs
      • Compensation: US$368.15k
    • Robert Swinney (73yo)

      Independent Director

      • Tenure: 22yrs
      • Compensation: US$256.30k
    • David Hoffmeister (64yo)

      Independent Director

      • Tenure: 2yrs
      • Compensation: US$240.05k
    • Vivek Jain (47yo)

      Chairman of the Board & CEO

      • Tenure: 5.9yrs
      • Compensation: US$5.96m
    • David Greenberg (52yo)

      Lead Independent Director

      • Compensation: US$271.05k
    • Don Abbey (52yo)

      Independent Director

      • Tenure: 2yrs
      • Compensation: US$240.05k

    Company Information

    ICU Medical, Inc.'s company bio, employee growth, exchange listings and data sources


    Key Information

    • Name: ICU Medical, Inc.
    • Ticker: ICUI
    • Exchange: NasdaqGS
    • Founded: 1984
    • Industry: Health Care Supplies
    • Sector: Healthcare
    • Market Cap: US$3.896b
    • Shares outstanding: 20.67m
    • Website: https://www.icumed.com

    Number of Employees


    Location

    • ICU Medical, Inc.
    • 951 Calle Amanecer
    • San Clemente
    • California
    • 92673
    • United States

    Listings

    TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
    ICUINasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDMar 1992
    IC7DB (Deutsche Boerse AG)YesCommon StockDEEURMar 1992

    Biography

    ICU Medical, Inc. develops, manufactures, and sells medical devices used in vascular therapy, critical care, and oncology applications worldwide. It offers infusion therapy products comprising a tube running from a bottle or plastic bag containing a solution to a catheter inserted in a patient’s vein. The company’s infusion therapy products include needlefree connector products under the MicroClave, MicroClave Clear, and NanoClave brands; Neutron catheter patency connectors; SwabCap disinfecting caps; Tego hemodialysis connectors; NovaCath and SuperCath peripheral intravenous (IV) catheters; and ChemoLock and ChemoClave closed system transfer devices, as well as Diana hazardous drug compounding system for the preparation of hazardous drugs. It also provides IV therapy and diluents, including sodium chloride, dextrose, balanced electrolyte solutions, lactated ringer's, ringer's, mannitol, sodium chloride/dextrose, and sterile water; and irrigation/urologics, such as sodium chloride irrigation, sterile water irrigation, physiologic solutions, ringer's irrigation, acetic acid irrigation, glycine irrigation, sorbitol-mannitol irrigation, flexible containers, and pour bottle options. In addition, the company offers infusion pumps under the Plum 360 and LifeCare PCA brands; Cogent 2-in-1 and CardioFlo hemodynamic monitoring systems; TDQ and OptiQ cardiac output monitoring catheters; Transpac blood pressure transducers; and SafeSet closed blood sampling and conservation systems. Further, it provides ICU Medical Mednet, an enterprise medication management platform that connects smart pumps to hospital’s electronic health records, asset tracking systems, and alarm notification platforms. The company sells its products to acute care hospitals, wholesalers, ambulatory clinics, and alternate site facilities, such as clinics, home health care providers, and long-term care facilities. ICU Medical, Inc. was founded in 1984 and is headquartered in San Clemente, California. 


    Company Analysis and Financial Data Status

    All financial data provided by Standard & Poor's Capital IQ.
    DataLast Updated (UTC time)
    Company Analysis2020/01/17 01:33
    End of Day Share Price2020/01/16 00:00
    Earnings2019/09/30
    Annual Earnings2018/12/31


    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.