Invacare
Market Cap
US$253.6m
Last Updated
2020/10/28 23:33 UTC
Data Sources
Company Financials +
Executive Summary
Invacare Corporation, together with its subsidiaries, designs, manufactures, distributes, and exports medical equipment for use in home health care, retail, and extended care markets worldwide. More Details
Rewards
Risk Analysis
Currently unprofitable and not forecast to become profitable over the next 3 years
Snowflake Analysis
Adequate balance sheet and fair value.
Similar Companies
Share Price & News
How has Invacare's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: IVC has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-0.8%
IVC
-3.6%
US Medical Equipment
-4.6%
US Market
1 Year Return
-4.3%
IVC
16.8%
US Medical Equipment
11.5%
US Market
Return vs Industry: IVC underperformed the US Medical Equipment industry which returned 16.8% over the past year.
Return vs Market: IVC underperformed the US Market which returned 11.5% over the past year.
Shareholder returns
| IVC | Industry | Market | |
|---|---|---|---|
| 7 Day | -0.8% | -3.6% | -4.6% |
| 30 Day | -1.1% | 1.4% | -0.9% |
| 90 Day | 5.7% | 1.8% | 2.2% |
| 1 Year | -4.0%-4.3% | 17.8%16.8% | 14.0%11.5% |
| 3 Year | -51.7%-52.5% | 70.9%66.4% | 34.5%25.6% |
| 5 Year | -60.3%-61.1% | 128.9%111.0% | 73.0%53.6% |
Price Volatility Vs. Market
How volatile is Invacare's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Invacare (NYSE:IVC) Has A Somewhat Strained Balance Sheet1 month ago | Simply Wall St
Is Now An Opportune Moment To Examine Invacare Corporation (NYSE:IVC)?1 month ago | Simply Wall St
Are Investors Undervaluing Invacare Corporation (NYSE:IVC) By 25%?Valuation
Is Invacare undervalued compared to its fair value and its price relative to the market?
24.4%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: IVC ($7.37) is trading below our estimate of fair value ($9.75)
Significantly Below Fair Value: IVC is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: IVC is unprofitable, so we can't compare its PE Ratio to the US Medical Equipment industry average.
PE vs Market: IVC 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 IVC's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: IVC is good value based on its PB Ratio (0.8x) compared to the US Medical Equipment industry average (3.8x).
Next Steps
Future Growth
How is Invacare forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
85.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: IVC is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: IVC is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: IVC is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: IVC's revenue (3.2% per year) is forecast to grow slower than the US market (10% per year).
High Growth Revenue: IVC's revenue (3.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: IVC is forecast to be unprofitable in 3 years.
Next Steps
Past Performance
How has Invacare performed over the past 5 years?
-4.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: IVC is currently unprofitable.
Growing Profit Margin: IVC is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: IVC is unprofitable, and losses have increased over the past 5 years at a rate of 4.7% per year.
Accelerating Growth: Unable to compare IVC's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: IVC is unprofitable, making it difficult to compare its past year earnings growth to the Medical Equipment industry (1.9%).
Return on Equity
High ROE: IVC has a negative Return on Equity (-14.1%), as it is currently unprofitable.
Next Steps
Financial Health
How is Invacare's financial position?
Financial Position Analysis
Short Term Liabilities: IVC's short term assets ($392.1M) exceed its short term liabilities ($278.0M).
Long Term Liabilities: IVC's short term assets ($392.1M) exceed its long term liabilities ($306.0M).
Debt to Equity History and Analysis
Debt Level: IVC's debt to equity ratio (85.1%) is considered high.
Reducing Debt: IVC's debt to equity ratio has increased from 9.7% to 85.1% 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: Whilst unprofitable IVC has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: IVC is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 5.4% per year.
Next Steps
Dividend
What is Invacare current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate IVC's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate IVC'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 IVC's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if IVC's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: IVC is not paying a notable dividend for the US market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of IVC'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?
2.3yrs
Average management tenure
CEO
Matt Monaghan (52 yo)
5.5yrs
Tenure
US$8,340,917
Compensation
Mr. Mathew E. Monaghan, also known as Matt, has been the Chief Executive Officer and President of Invacare Corporation since April 01, 2015 and has been its Chairman of the Board since May 14, 2015. Mr. Mo ...
CEO Compensation Analysis
Compensation vs Market: Matt's total compensation ($USD8.34M) is above average for companies of similar size in the US market ($USD1.34M).
Compensation vs Earnings: Matt's compensation has increased whilst the company is unprofitable.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 5.5yrs | US$8.34m | 2.53% $ 6.4m | |
| Senior VP & CFO | 2.92yrs | US$2.43m | 0.33% $ 839.7k | |
| Senior VP | 0.75yr | US$1.38m | 0.24% $ 614.3k | |
| Senior VP & GM of EMEA | 3.92yrs | US$1.20m | 0.15% $ 387.1k | |
| Director of Treasury and Investor Relations | no data | no data | no data | |
| Senior VP & GM of North America | 0.75yr | no data | 0.033% $ 84.9k | |
| Chief Information Technology Officer | 1.58yrs | no data | 0.029% $ 73.1k |
2.3yrs
Average Tenure
54.5yo
Average Age
Experienced Management: IVC's management team is considered experienced (2.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 5.5yrs | US$8.34m | 2.53% $ 6.4m | |
| Lead Independent Director | 8.42yrs | US$270.27k | 0.11% $ 283.2k | |
| Independent Director | 2.25yrs | US$240.27k | 0.013% $ 32.9k | |
| Independent Director | 3.83yrs | US$255.27k | 0.053% $ 133.8k | |
| Independent Director | 9.42yrs | US$255.27k | 0.080% $ 203.6k | |
| Independent Director | 5.42yrs | US$255.27k | 0.11% $ 289.2k | |
| Independent Director | 1.08yrs | US$81.23k | 0.026% $ 66.5k | |
| Independent Director | 4.92yrs | US$240.27k | 0.067% $ 170.4k | |
| Independent Director | 2.42yrs | US$240.27k | 0.016% $ 41.2k |
4.9yrs
Average Tenure
57yo
Average Age
Experienced Board: IVC's board of directors are considered experienced (4.9 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 2.2%.
Top Shareholders
Company Information
Invacare Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Invacare Corporation
- Ticker: IVC
- Exchange: NYSE
- Founded: 1885
- Industry: Health Care Equipment
- Sector: Healthcare
- Market Cap: US$253.625m
- Shares outstanding: 34.41m
- Website: https://www.invacare.com
Number of Employees
Location
- Invacare Corporation
- One Invacare Way
- Elyria
- Ohio
- 44035
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| IVC | NYSE (New York Stock Exchange) | Yes | Common Shares | US | USD | May 1984 |
| IV3 | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | May 1984 |
Biography
Invacare Corporation, together with its subsidiaries, designs, manufactures, distributes, and exports medical equipment for use in home health care, retail, and extended care markets worldwide. The company ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/10/28 23:33 |
| End of Day Share Price | 2020/10/28 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2019/12/31 |
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.