Silk Road Medical (NasdaqGS:SILK) - Share price, News & Analysis

SILK fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	2/6
Past Performance	0/6
Financial Health	5/6
Dividends	0/6

SILK Stock Overview

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

Rewards

Revenue is forecast to grow 24% per year

Risk Analysis

Currently unprofitable and not forecast to become profitable over the next 3 years

Silk Road Medical Competitors

Merit Medical Systems

NasdaqGS:MMSI

US$3.3b

InspireMD

NasdaqCM:NSPR

US$17.4m

Abbott Laboratories

NYSE:ABT

US$199.2b

Medtronic

NYSE:MDT

US$141.7b

Price History & Performance

Summary of all time highs, changes and price drops for Silk Road Medical
Historical stock prices
Current Share Price	US$29.32
52 Week High	US$67.49
52 Week Low	US$27.21
Beta	1.59
1 Month Change	-26.94%
3 Month Change	-7.13%
1 Year Change	-39.94%
3 Year Change	-35.36%
5 Year Change	n/a
Change since IPO	-18.96%

Shareholder Returns

	SILK	US Medical Equipment	US Market
7D	2.6%	-1.8%	-4.0%
1Y	-39.9%	-16.7%	-13.2%

Return vs Industry: SILK underperformed the US Medical Equipment industry which returned -16.7% over the past year.

Return vs Market: SILK underperformed the US Market which returned -13.2% over the past year.

Price Volatility

Is SILK's price volatile compared to industry and market?
SILK volatility
SILK Average Weekly Movement	11.8%
Medical Equipment Industry Average Movement	10.4%
Market Average Movement	7.8%
10% most volatile stocks in US Market	16.8%
10% least volatile stocks in US Market	2.9%

Stable Share Price: SILK is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 12% a week.

Volatility Over Time: SILK's weekly volatility (12%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2007	352	Erica Rogers	https://silkroadmed.com

Silk Road Medical, Inc. operates as a medical device company in the United States. The company offers various products for the treatment of carotid artery disease called transcarotid artery revascularization. Its products include ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and initiate temporary blood flow reversal; ENROUTE Transcarotid Stent System, a self-expanding, self-tapering stent; ENHANCE Transcarotid Peripheral Access Kit for use in gaining initial access to the common carotid artery; and ENROUTE 0.014 Guidewire for navigating and crossing the target lesion for delivery of interventional devices.

Silk Road Medical Fundamentals Summary

How do Silk Road Medical's earnings and revenue compare to its market cap?
SILK fundamental statistics
Market Cap	US$1.03b
Earnings (TTM)	-US$55.80m
Revenue (TTM)	US$107.44m

9.6x

P/S Ratio

-18.5x

P/E Ratio

Is SILK overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
SILK income statement (TTM)
Revenue	US$107.44m
Cost of Revenue	US$28.49m
Gross Profit	US$78.96m
Other Expenses	US$134.75m
Earnings	-US$55.80m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	-1.59
Gross Margin	73.49%
Net Profit Margin	-51.93%
Debt/Equity Ratio	72.0%

How did SILK perform over the long term?

See historical performance and comparison

Valuation

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

Valuation Score

0/6

Valuation Score 0/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

15.21x

Price to Book (PB) ratio

Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate SILK's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate SILK's fair value for valuation analysis.

Price To Earnings Ratio

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

PE vs Market: SILK is unprofitable, so we can't compare its Price-To-Earnings 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 Price-To-Book Ratio (15.2x) compared to the US Medical Equipment industry average (2.4x).

Future Growth

How is Silk Road Medical forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

34.2%

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 (24% per year) is forecast to grow faster than the US market (7.7% per year).

High Growth Revenue: SILK's revenue (24% 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.

Past Performance

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

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-7.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SILK is currently unprofitable.

Growing Profit Margin: SILK is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: SILK is unprofitable, and losses have increased over the past 5 years at a rate of 7.6% per year.

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 (16.1%).

Return on Equity

High ROE: SILK has a negative Return on Equity (-82.41%), as it is currently unprofitable.

Financial Health

How is Silk Road Medical's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: SILK's short term assets ($127.8M) exceed its short term liabilities ($29.5M).

Long Term Liabilities: SILK's short term assets ($127.8M) exceed its long term liabilities ($45.8M).

Debt to Equity History and Analysis

Debt Level: SILK has more cash than its total debt.

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

Balance Sheet

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 a year based on its current free cash flow.

Forecast Cash Runway: SILK has sufficient cash runway for 1.8 years if free cash flow continues to reduce at historical rates of 16.7% each year.

Dividend

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

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

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

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

Earnings Payout to Shareholders

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

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as SILK has not reported any payouts.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

4.2yrs

Average management tenure

CEO

Erica Rogers (57 yo)

9.58yrs

Tenure

US$3,315,913

Compensation

Ms. Erica J. Rogers serves as the Chief Executive Officer and President of Silk Road Medical Inc since October 2012. Ms. Rogers serves as Independent Director at Sight Sciences, Incorporated since November...

CEO Compensation Analysis

Compensation vs Market: Erica's total compensation ($USD3.32M) is about average for companies of similar size in the US market ($USD3.95M).

Compensation vs Earnings: Erica's compensation has increased whilst the company is unprofitable.

Leadership Team

Experienced Management: SILK's management team is considered experienced (4.2 years average tenure).

Board Members

Experienced Board: SILK's board of directors are considered experienced (6.6 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

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

Recent Insider Transactions

Ownership Breakdown

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

Data	Last Updated (UTC time)
Company Analysis	2022/05/25 00:00
End of Day Share Price	2022/05/25 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31