OTCPK:CKMT.F

Stock Analysis Report

Executive Summary

Carmat SA designs and develops total artificial heart for people suffering from end-stage biventricular heart failure in France and internationally.

Snowflake

Fundamentals

Mediocre balance sheet with limited growth.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0%

OTCPK:CKMT.F

-0.08%

US Medical Equipment

0.2%

US Market


1 Year Return

n/a

OTCPK:CKMT.F

14.1%

US Medical Equipment

-0.7%

US Market

No trading data on CKMT.F.

No trading data on CKMT.F.


Share holder returns

CKMT.FIndustryMarket
7 Day0%-0.08%0.2%
30 Day0%0.5%-2.7%
90 Day0%10.2%1.6%
1 Yearn/a15.0%14.1%1.6%-0.7%
3 Yearn/a68.4%63.2%40.0%30.9%
5 Year-74.0%-74.0%131.5%104.9%53.8%36.8%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

8.31x

Price to Book (PB) ratio


Intrinsic Value Based on Future Cash Flows

Unable to calculate intrinsic value for Carmat to establish if it is available at moderate discount.

Unable to calculate intrinsic value for Carmat to establish if it is available at substantial discount.


Price Based on Earnings

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

Carmat 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 Carmat, we can't assess if its growth is good value.


Price Based on Value of Assets

Carmat is overvalued based on assets compared to the US Medical Equipment industry average.


Next Steps

Future Growth

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

7.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Carmat's revenue is expected to grow significantly at over 20% yearly.

Carmat is not considered high growth as it is expected to be loss making for the next 1-3 years.

Carmat's revenue growth is expected to exceed the United States of America market average.

Unable to compare Carmat's earnings growth to the United States of America market average as it is expected to be loss making during the next 1-3 years.

Unable to compare Carmat's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.


Earnings per Share Growth Estimates


Future Return on Equity

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


Next Steps

Past Performance

How has Carmat performed over the past 5 years?

-19.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

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

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

Unable to compare Carmat'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 Carmat 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 Carmat 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 Carmat 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 Carmat's financial position?


Financial Position Analysis

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

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


Debt to Equity History and Analysis

Carmat's level of debt (22.6%) compared to net worth is satisfactory (less than 40%).

The level of debt compared to net worth has increased over the past 5 years (5.6% vs 22.6% today).


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 6.6x 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.

Carmat has less than a year of cash runway based on current free cash flow.

Carmat has less than a year of cash runway if free cash flow continues to grow at historical rates of 27.9% each year.


Next Steps

Dividend

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


Dividend Yield and Payments Analysis

Unable to evaluate Carmat's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate Carmat's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as Carmat has not reported any payouts.

Unable to verify if Carmat's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as Carmat has not reported any payouts.


Future Payout to Shareholders

No need to calculate the sustainability of Carmat's dividends in 3 years as they are not expected to pay a notable one for United States of America.


Next Steps

Management

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

8.6yrs

Average board tenure


CEO

Stéphane Piat 0

2.9yrs

Tenure

€4,791,764

Compensation

Mr. Stéphane Piat has been Chief Executive Officer of Carmat SA since August 29, 2016 and has been its Director since April 27, 2017. Mr. Piat is an acknowledged specialist in the medical device business, ...


CEO Compensation Analysis

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

Stéphane's compensation has increased whilst company is loss making.


Board Age and Tenure

8.6yrs

Average Tenure

72yo

Average Age

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


Insider Trading

No 3 month individual insider trading information.


Ownership Breakdown


Management Team

  • Patrick Coulombier

    Deputy Chief Executive Officer

    • Tenure: 0.0yrs
  • Piet Jansen

    Chief Medical Officer

    • Tenure: 0.0yrs
  • Stéphane Piat

    CEO & Director

    • Tenure: 2.9yrs
    • Compensation: €4.79m
  • Pascale d'Arbonneau

    CFO & Head of investor relations

    • Tenure: 0.6yrs
  • Francesco Arecchi

    Marketing Manager

    • Tenure: 0.0yrs
  • Raouia Bouyanzer

    Human Resource Manager

    • Tenure: 0.0yrs

Board Members

  • Philippe Pouletty (61yo)

    Director

    • Tenure: 9.2yrs
    • Compensation: €7.50k
  • JP Garnier (72yo)

    Chairman

    • Tenure: 0.6yrs
    • Compensation: €131.57k
  • Henri Lachmann (81yo)

    Independent Director

    • Tenure: 8.6yrs
    • Compensation: €7.50k
  • Friedrich-Wilhelm Mohr

    Member of the Scientific Committee

    • Tenure: 0.0yrs
  • Alain Carpentier

    Director

    • Tenure: 9.2yrs
    • Compensation: €6.00k
  • Gunther Laufer

    Member of the Scientific Committee

    • Tenure: 0.0yrs
  • Paul Mohacsi

    Member of the Scientific Committee

    • Tenure: 0.0yrs
  • Edoardo Gronda

    Member of the Scientific Committee

    • Tenure: 0.0yrs
  • Mark Slaughter

    Member of the Scientific Committee

    • Tenure: 0.0yrs
  • Stéphane Piat

    CEO & Director

    • Tenure: 2.9yrs
    • Compensation: €4.79m

Company Information

Carmat SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Carmat SA
  • Ticker: CKMT.F
  • Exchange: OTCPK
  • Founded: 2008
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: €171.768m
  • Listing Market Cap: €193.367m
  • Shares outstanding: 9.34m
  • Website: https://www.carmatsa.com

Number of Employees


Location

  • Carmat SA
  • 36, avenue de l'Europe
  • Immeuble l'Etendard
  • Vélizy-Villacoublay
  • Ile-de-France
  • 78140
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ALCARENXTPA (Euronext Paris)YesCommon SharesFREURJul 2010
CXTDB (Deutsche Boerse AG)YesCommon SharesDEEURJul 2010
CKMT.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDJul 2010

Biography

Carmat SA designs and develops total artificial heart for people suffering from end-stage biventricular heart failure in France and internationally. It also develops orthotopic, bioprosthetic, self-regulat ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/07/15 00:19
End of Day Share Price2019/04/16 00:00
Earnings2018/12/31
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.