NYSE:GKOS

Stock Analysis Report

Executive Summary

Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development and commercialization of surgical devices and sustained pharmaceutical therapies designed to treat glaucoma.


Snowflake Analysis

Flawless balance sheet with reasonable growth potential.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

30.6%

GKOS

13.8%

US Medical Equipment

10.5%

US Market


1 Year Return

-57.5%

GKOS

-7.7%

US Medical Equipment

-11.5%

US Market

Return vs Industry: GKOS underperformed the US Medical Equipment industry which returned -7.7% over the past year.

Return vs Market: GKOS underperformed the US Market which returned -11.5% over the past year.


Shareholder returns

GKOSIndustryMarket
7 Day30.6%13.8%10.5%
30 Day-45.8%-12.8%-15.4%
90 Day-39.3%-18.0%-21.4%
1 Year-57.5%-57.5%-7.0%-7.7%-9.6%-11.5%
3 Year-35.0%-35.0%41.7%37.8%12.6%5.4%
5 Yearn/a73.5%55.7%32.8%18.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

80.75x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: GKOS ($33.34) is trading above our estimate of fair value ($18.81)

Significantly Below Fair Value: GKOS is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: GKOS is poor value based on its PE Ratio (80.7x) compared to the Medical Equipment industry average (37.7x).

PE vs Market: GKOS is poor value based on its PE Ratio (80.7x) compared to the US market (13x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: GKOS is good value based on its PB Ratio (2.2x) compared to the US Medical Equipment industry average (3x).


Next Steps

Future Growth

How is Glaukos forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

32.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GKOS's forecast earnings growth (32.7% per year) is above the savings rate (1.7%).

Earnings vs Market: GKOS's earnings (32.7% per year) are forecast to grow faster than the US market (12.3% per year).

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

Revenue vs Market: GKOS's revenue (15.9% per year) is forecast to grow faster than the US market (7.3% per year).

High Growth Revenue: GKOS's revenue (15.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: GKOS's Return on Equity is forecast to be low in 3 years time (6.8%).


Next Steps

Past Performance

How has Glaukos performed over the past 5 years?

30.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: GKOS has a large one-off loss of $32.3M impacting its December 31 2019 financial results.

Growing Profit Margin: GKOS became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: GKOS has become profitable over the past 5 years, growing earnings by 30.8% per year.

Accelerating Growth: GKOS has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: GKOS has become profitable in the last year, making it difficult to compare its past year earnings growth to the Medical Equipment industry (1%).


Return on Equity

High ROE: GKOS's Return on Equity (2.3%) is considered low.


Next Steps

Financial Health

How is Glaukos's financial position?


Financial Position Analysis

Short Term Liabilities: GKOS's short term assets ($262.9M) exceed its short term liabilities ($57.7M).

Long Term Liabilities: GKOS's short term assets ($262.9M) exceed its long term liabilities ($87.4M).


Debt to Equity History and Analysis

Debt Level: GKOS is debt free.

Reducing Debt: GKOS currently has no debt however we can't compare to 5 years ago as we have no data for that period.


Balance Sheet

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

Debt Coverage by Assets: GKOS's debt is covered by short term assets (assets are 1.8498394731936E+16x 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: GKOS is profitable, therefore cash runway is not a concern.

Forecast Cash Runway: GKOS is profitable, therefore cash runway is not a concern.


Next Steps

Dividend

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


Dividend Yield vs Market

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

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

Growing Dividend: Insufficient data to determine if GKOS'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 GKOS's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

3.1yrs

Average management tenure


CEO

Thomas Burns (58yo)

18s

Tenure

US$5,198,717

Compensation

Mr. Thomas William Burns has been the Chief Executive Officer and President at Glaukos Corporation since March 2002. He serves as Director of Avedro, Inc. since November 21, 2019. He served as Director of  ...


CEO Compensation Analysis

Compensation vs Market: Thomas's total compensation ($USD5.20M) is about average for companies of similar size in the US market ($USD4.54M).

Compensation vs Earnings: Thomas's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Thomas Burns
CEO, President & Director18yrsUS$5.20m2.5% $36.4m
Joseph Gilliam
CFO & Senior VP of Corporate Development2.83yrsUS$1.95m0.024% $344.8k
Chris Calcaterra
Chief Operating Officer3.08yrsUS$1.96m0.35% $5.1m
Mory Gharib
Co-Founderno datano datano data
Christopher Lewis
Director of Investor Relationsno datano datano data
Robert Davis
Senior VP4.75yrsno datano data
Michele Allegretto
Senior Vice President of Human Resources4.83yrsno datano data
David Haffner
Senior Vice President of New Technologies3.08yrsno datano data
L. Katz
Chief Medical Officer3.08yrsno datano data
Jane Rady
Senior Vice President of Corporate Strategy & Business Development1.92yrsno datano data

3.1yrs

Average Tenure

58yo

Average Age

Experienced Management: GKOS's management team is considered experienced (3.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Thomas Burns
CEO, President & Director18yrsUS$5.20m2.5% $36.4m
William Link
Independent Chairman of the Board18.75yrsUS$264.99k0.11% $1.6m
Gilbert Kliman
Directorno dataUS$224.99kno data
Richard Lindstrom
Member of Scientific Advisory Boardno datano datano data
Aimee Weisner
Independent Director5.67yrsUS$224.99k0.025% $360.4k
Mark Foley
Independent Director5.67yrsUS$234.99k0.011% $154.4k
David Hoffmeister
Independent Director5.67yrsUS$232.48k0.018% $264.4k
Ike Ahmed
Member of Scientific Advisory Boardno datano datano data
Thomas Samuelson
Member of Scientific Advisory Boardno datano datano data
Marc Stapley
Director5.67yrsUS$243.99k0.020% $285.9k

5.7yrs

Average Tenure

59yo

Average Age

Experienced Board: GKOS's board of directors are considered experienced (5.7 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.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5.8%.


Top Shareholders

Company Information

Glaukos Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Glaukos Corporation
  • Ticker: GKOS
  • Exchange: NYSE
  • Founded: 1998
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: US$1.458b
  • Shares outstanding: 43.74m
  • Website: https://www.glaukos.com

Number of Employees


Location

  • Glaukos Corporation
  • 229 Avenida Fabricante
  • San Clemente
  • California
  • 92672
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GKOSNYSE (New York Stock Exchange)YesCommon StockUSUSDJun 2015
6GJDB (Deutsche Boerse AG)YesCommon StockDEEURJun 2015

Biography

Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development and commercialization of surgical devices and sustained pharmaceutical therapies designed to treat glaucoma. It offers iStent, a micro-bypass stent for insertion in conjunction with cataract surgery for the reduction of intraocular pressure in adult patients with mild-to-moderate open-angle glaucoma; and iStent inject trabecular micro-bypass stent that allows the surgeon to inject stents into various trabecular meshwork locations through a single corneal entry for the reduction of intraocular pressure in mild-to-moderate open-angle glaucoma in combination with cataract surgery. The company’s product pipeline includes iStent Infinite trabecular micro-bypass system, which is used as a standalone procedure in patients with refractory glaucoma; iStent Supra suprachoroidal micro-bypass stent that is designed to reduce intraocular pressure by accessing the suprachoroidal space in the eye; iStent SA trabecular micro-bypass system, a two-stent product, which uses a different auto-injection inserter designed for use in a standalone procedure; and iDose, a targeted injectable drug delivery implant that is designed to be pre-loaded into a small gauge needle and injected into the eye through a self-sealing corneal needle penetration. The company markets its products through direct sales force in the United States and other 16 countries, as well as through distribution partners in Europe, the Asia Pacific, Latin America, and internationally. Glaukos Corporation was founded in 1998 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 Analysis2020/03/28 04:16
End of Day Share Price2020/03/27 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.