NYSE:IVC

Stock Analysis Report

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.

Snowflake

Fundamentals

Adequate balance sheet with moderate growth potential.

Risks

  • Invacare has significant price volatility in the past 3 months.

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


Market Performance


7 Day Return

1.9%

IVC

1.2%

US Medical Equipment

-0.6%

US Market


1 Year Return

-46.5%

IVC

9.7%

US Medical Equipment

0.7%

US Market

IVC underperformed the Medical Equipment industry which returned 9.9% over the past year.

IVC underperformed the Market in United States of America which returned 0.7% over the past year.


Share holder returns

IVCIndustryMarket
7 Day1.9%1.2%-0.6%
30 Day57.2%3.5%4.9%
90 Day55.3%3.2%1.7%
1 Year-46.1%-46.5%10.6%9.7%3.0%0.7%
3 Year-27.1%-28.2%70.6%65.4%44.8%35.4%
5 Year-35.6%-36.9%139.4%112.2%62.0%44.3%

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

3 weeks ago | Simply Wall St

The Invacare (NYSE:IVC) Share Price Is Down 66% So Some Shareholders Are Wishing They Sold

Valuation

Is Invacare undervalued based on future cash flows and its price relative to the stock market?

0.8x

Price to Book (PB) ratio


Intrinsic Value Based on Future Cash Flows

Invacare's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Invacare's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Invacare is loss making, we can't compare its value to the US Medical Equipment industry average.

Invacare is loss making, we can't compare the value of its earnings to the United States of America market.


Price Based on Expected Growth

Unable to calculate PEG ratio for Invacare, we can't assess if its growth is good value.


Price Based on Value of Assets

Invacare is good value based on assets compared to the US Medical Equipment industry average.


Next Steps

Future Growth

How is Invacare expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

113.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Invacare's revenue is expected to grow by 2.9% yearly, however this is not considered high growth (20% yearly).

Invacare's earnings are expected to grow significantly at over 20% yearly.

Invacare's revenue growth is positive but not above the United States of America market average.

Invacare's earnings growth is expected to exceed the United States of America market average.

Invacare's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Invacare will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has Invacare performed over the past 5 years?

-1.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Invacare does not make a profit and their year on year earnings growth rate was negative over the past 5 years.

Unable to compare Invacare's 1-year earnings growth to the 5-year average as it is not currently profitable.

Unable to compare Invacare's 1-year growth to the US Medical Equipment industry average as it is not currently profitable.


Return on Equity

It is difficult to establish if Invacare has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.


Return on Assets

It is difficult to establish if Invacare has efficiently used its assets last year compared to the US Medical Equipment industry average (Return on Assets) as it is loss-making.


Return on Capital Employed

It is difficult to establish if Invacare improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.


Next Steps

Financial Health

How is Invacare's financial position?


Financial Position Analysis

Invacare is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Invacare's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Invacare's level of debt (70.3%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (8.7% vs 70.3% today).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 1.6x 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.

Invacare has sufficient cash runway for more than 3 years based on current free cash flow.

Invacare has sufficient cash runway for 2.6 years if free cash flow continues to reduce at historical rates of -4.1% each year.


Next Steps

Dividend

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

0.63%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Invacare before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield and Payments Analysis

Invacare's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).

Invacare's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).

Invacare is not paying a notable dividend for United States of America, therefore no need to check if the payments are stable.

Invacare is not paying a notable dividend for United States of America, therefore no need to check if the payments are increasing.


Current Payout to Shareholders

No need to calculate the sustainability of Invacare's dividends as it is not paying a notable one for United States of America.


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

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

2.3yrs

Average management tenure


CEO

Matt Monaghan (51yo)

4.4yrs

Tenure

US$5,325,390

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

Matt's remuneration is higher than average for companies of similar size in United States of America.

Matt's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

2.3yrs

Average Tenure

52yo

Average Age

The tenure for the Invacare management team is about average.


Board Age and Tenure

4.1yrs

Average Tenure

56yo

Average Age

The tenure for the Invacare board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

BuyUS$35,90020 Nov 18
Kathleen Leneghan
EntityIndividual
Role
Chief Financial Officer
Senior VP & CFO
Shares6,500
Max PriceUS$5.52
BuyUS$48,81419 Nov 18
Clifford Nastas
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares9,000
Max PriceUS$5.42
BuyUS$99,84709 Nov 18
Matthew Monaghan
EntityIndividual
Role
Chief Executive Officer
Chairman
Shares13,750
Max PriceUS$7.26

Ownership Breakdown


Management Team

  • Matt Monaghan (51yo)

    Chairman

    • Tenure: 4.4yrs
    • Compensation: US$5.33m
  • Anthony LaPlaca (61yo)

    Senior VP

    • Tenure: 10.7yrs
    • Compensation: US$816.09k
  • Ralf Ledda (51yo)

    Senior VP & GM of EMEA

    • Tenure: 2.8yrs
    • Compensation: US$848.30k
  • Kathleen Leneghan (56yo)

    Senior VP & CFO

    • Tenure: 1.8yrs
    • Compensation: US$1.19m
  • Darcie Karol (52yo)

    Senior Vice President of Human Resources

    • Tenure: 1.3yrs
    • Compensation: US$472.46k
  • Lois Lee

    Director of Treasury and Investor Relations

    • Tenure: 0yrs
  • Joost Beltman

    Vice President of Sales & Marketing for North America

    • Tenure: 0.2yrs

Board Members

  • C. Harris (63yo)

    Lead Independent Director

    • Tenure: 7.3yrs
    • Compensation: US$207.66k
  • Diana Ferguson (55yo)

    Independent Director

    • Tenure: 1.2yrs
    • Compensation: US$110.50k
  • Susan Alexander (62yo)

    Independent Director

    • Tenure: 2.8yrs
    • Compensation: US$187.66k
  • Baiju Shah (47yo)

    Independent Director

    • Tenure: 8.3yrs
    • Compensation: US$192.66k
  • Cliff Nastas (56yo)

    Independent Director

    • Tenure: 4.3yrs
    • Compensation: US$192.66k
  • Matt Monaghan (51yo)

    Chairman

    • Tenure: 4.4yrs
    • Compensation: US$5.33m
  • Julie Beck (57yo)

    Director

    • Tenure: 0yrs
  • Marc Gibeley (54yo)

    Independent Director

    • Tenure: 3.8yrs
    • Compensation: US$177.66k
  • Petra Danielsohn-Weil (59yo)

    Independent Director

    • Tenure: 1.3yrs
    • Compensation: US$136.37k

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$265.687m
  • Shares outstanding: 33.67m
  • Website: https://www.invacare.com

Number of Employees


Location

  • Invacare Corporation
  • One Invacare Way
  • Elyria
  • Ohio
  • 44035
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IVCNYSE (New York Stock Exchange)YesCommon SharesUSUSDMay 1984
IV3DB (Deutsche Boerse AG)YesCommon SharesDEEURMay 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/22 23:39
End of Day Share Price2019/09/20 00:00
Earnings2019/06/30
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.