NasdaqGM:SILK

Stock Analysis Report

Executive Summary

Silk Road Medical, Inc. operates as a medical device company in the United States.

Snowflake

Fundamentals

Adequate balance sheet with limited growth.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-0.6%

SILK

2.4%

US Medical Equipment

0.9%

US Market


1 Year Return

n/a

SILK

23.9%

US Medical Equipment

16.8%

US Market

Return vs Industry: Insufficient data to determine how SILK performed against the US Medical Equipment industry.

Return vs Market: Insufficient data to determine how SILK performed against the US Market.


Shareholder returns

SILKIndustryMarket
7 Day-0.6%2.4%0.9%
30 Day3.9%3.6%4.5%
90 Day-13.1%2.2%6.2%
1 Yearn/a25.0%23.9%19.4%16.8%
3 Yearn/a90.3%84.5%47.5%38.0%
5 Yearn/a117.4%93.9%62.0%44.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

14.41x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate SILK's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate SILK's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: SILK is unprofitable, so we can't compare its PE Ratio to the Medical Equipment industry average.

PE vs Market: SILK is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate SILK's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: SILK is overvalued based on its PB Ratio (14.4x) compared to the US Medical Equipment industry average (4x).


Next Steps

Future Growth

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

75.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SILK is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: SILK is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: SILK is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: SILK's revenue (37.3% per year) is forecast to grow faster than the US market (7.3% per year).

High Growth Revenue: SILK's revenue (37.3% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SILK is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has Silk Road Medical performed over the past 5 years?

-80.9%

Last years earnings growth


Earnings and Revenue History

Quality Earnings: SILK has high quality earnings.

Growing Profit Margin: SILK is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: Unable to establish if SILK's year-on-year earnings growth rate was positive over the past 5 years as it has been trading publicly for less than 3 years.

Accelerating Growth: Unable to compare SILK's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: SILK is unprofitable, making it difficult to compare its past year earnings growth to the Medical Equipment industry (28.3%).


Return on Equity

High ROE: SILK has a negative Return on Equity (-77.14%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Silk Road Medical's financial position?


Financial Position Analysis

Short Term Liabilities: SILK's short term assets ($132.0M) exceeds its short term liabilities ($12.4M)

Long Term Liabilities: SILK's short term assets ($132.0M) exceeds its long term liabilities (48.7M)


Debt to Equity History and Analysis

Debt Level: SILK's debt to equity ratio (57.8%) is considered high.

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


Balance Sheet

Inventory Level: SILK has a low level of unsold assets or inventory.

Debt Coverage by Assets: SILK's debt is covered by short term assets (assets are 2.9x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: SILK has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: SILK has sufficient cash runway for more than 3 years if free cash flow continues to reduce at historical rates of -11.1% each year


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage1.2%forecastin3Years0%

Current dividend yield vs market & industry

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

High Dividend: Unable to evaluate SILK'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 SILK's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SILK'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 SILK'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 Silk Road Medical's salary, the management and board of directors tenure and is there insider trading?

4.5yrs

Average management tenure


CEO

Erica Rogers (56yo)

7.1yrs

Tenure

US$858,000

Compensation

Ms. Erica J. Rogers serves as the Chief Executive Officer and President of Silk Road Medical Inc since October 2012. Ms. Rogers served as Chief Operating Officer of Medicines360 from June 2010 to October 2 ...


CEO Compensation Analysis

Compensation vs Market: Erica's total compensation ($USD858.00K) is below average for companies of similar size in the US market ($USD2.63M).

Compensation vs Earnings: Insufficient data to compare Erica's compensation with company performance.


Management Age and Tenure

4.5yrs

Average Tenure

52yo

Average Age

Experienced Management: SILK's management team is considered experienced (4.5 years average tenure).


Board Age and Tenure

4.9yrs

Average Tenure

53.5yo

Average Age

Experienced Board: SILK's board of directors are considered experienced (4.9 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$24,885,00015 Aug 19
Warburg Pincus LLC
EntityCompany
Shares630,000
Max PriceUS$39.50
SellUS$164,451,45612 Aug 19
Warburg Pincus LLC
EntityCompany
Shares4,163,328
Max PriceUS$39.50

Ownership Breakdown

Dilution of Shares: SILK only recently listed within the past 12 months, with total shares outstanding growing by 664.6% in the past year..


Management Team

  • Erica Rogers (56yo)

    President

    • Tenure: 7.1yrs
    • Compensation: US$858.00k
  • Ric Ruedy (52yo)

    Executive Vice President of Clinical & Regulatory Affairs

    • Tenure: 0yrs
  • Bob Nicholas (56yo)

    Vice President of Operations & Engineering

    • Tenure: 2.3yrs
  • Lucas Buchanan (42yo)

    Chief Financial Officer

    • Tenure: 3.3yrs
    • Compensation: US$770.00k
  • Sumaira MacDonald

    Executive Medical Director

    • Tenure: 5.8yrs
  • Andy Davis (50yo)

    Executive Vice President of Global Sales & Marketing

    • Tenure: 4.5yrs
    • Compensation: US$825.07k
  • Alison Highlander

    Vice President of Human Resources

    • Tenure: 0yrs
  • Lynn Lewis

    Investors Relations Officer

    • Tenure: 0yrs

Board Members

  • Jack Lasersohn (66yo)

    Independent Director

    • Tenure: 12.6yrs
  • Bess Weatherman (59yo)

    Independent Director

    • Tenure: 6.6yrs
  • Erica Rogers (56yo)

    President

    • Tenure: 7.1yrs
    • Compensation: US$858.00k
  • Don Zurbay (51yo)

    Independent Director

    • Tenure: 1.7yrs
    • Compensation: US$348.24k
  • Tony Chou (58yo)

    Independent Director

    • Tenure: 12.7yrs
  • Ruoxi Chen (35yo)

    Director

    • Tenure: 3.3yrs
  • Amr Kronfol (38yo)

    Director

    • Tenure: 0.7yrs
  • Robert Mittendorff (42yo)

    Independent Director

    • Tenure: 2.3yrs

Company Information

Silk Road Medical, Inc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Silk Road Medical, Inc
  • Ticker: SILK
  • Exchange: NasdaqGM
  • Founded: 2007
  • Industry: Health Care Supplies
  • Sector: Healthcare
  • Market Cap: US$1.119b
  • Shares outstanding: 30.87m
  • Website: https://silkroadmed.com

Number of Employees


Location

  • Silk Road Medical, Inc
  • 1213 Innsbruck Drive
  • Sunnyvale
  • California
  • 94089
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SILKNasdaqGM (Nasdaq Global Market)YesCommon StockUSUSDApr 2019
2OWBST (Boerse-Stuttgart)YesCommon StockDEEURApr 2019
2OWDB (Deutsche Boerse AG)YesCommon StockDEEURApr 2019

Biography

Silk Road Medical, Inc. operates as a medical device company in the United States. It offers ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and initia ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/20 00:47
End of Day Share Price2019/11/19 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.