OTCPK:MCRP.F

Stock Analysis Report

Executive Summary

MicroPort Scientific Corporation, an investment holding company, manufactures and markets medical devices in the People’s Republic of China, North America, Europe, other Asian countries, South America, and internationally.

Snowflake

Fundamentals

Proven track record with mediocre balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0%

MCRP.F

1.7%

US Medical Equipment

2.3%

US Market


1 Year Return

-24.5%

MCRP.F

10.1%

US Medical Equipment

5.6%

US Market

Return vs Industry: MCRP.F underperformed the US Medical Equipment industry which returned 10.1% over the past year.

Return vs Market: MCRP.F underperformed the US Market which returned 5.6% over the past year.


Shareholder returns

MCRP.FIndustryMarket
7 Day0%1.7%2.3%
30 Day-8.7%-1.7%-1.0%
90 Day16.0%-1.7%-0.7%
1 Year-24.5%-24.5%11.0%10.1%7.9%5.6%
3 Year17.0%17.0%70.4%65.2%45.6%36.3%
5 Year71.9%71.9%128.5%103.2%65.8%47.6%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

22.37x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: MCRP.F ($0.91) is trading above our estimate of fair value ($0.71)

Significantly Undervalued: MCRP.F is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: MCRP.F is good value based on its PE Ratio (22.4x) compared to the Medical Equipment industry average (41.1x).

PE vs Market: MCRP.F is poor value based on its PE Ratio (22.4x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

Low PEG Ratio: MCRP.F is poor value based on its PEG Ratio (3.3x)


Price to Book Ratio

PB vs Industry: MCRP.F is good value based on its PB Ratio (3x) compared to the US Medical Equipment industry average (3.7x).


Next Steps

Future Growth

How is MicroPort Scientific forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

6.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MCRP.F's forecast earnings growth (6.7% per year) is above the savings rate (2.7%).

Earnings vs Market: MCRP.F's earnings (6.7% per year) are forecast to grow slower than the US market (14.5% per year).

High Growth Earnings: MCRP.F's earnings are forecast to grow, but not significantly.

Revenue vs Market: MCRP.F's revenue (12.5% per year) is forecast to grow faster than the US market (7.3% per year).

High Growth Revenue: MCRP.F's revenue (12.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: MCRP.F's Return on Equity is forecast to be low in 3 years time (10.5%).


Next Steps

Past Performance

How has MicroPort Scientific performed over the past 5 years?

68.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: MCRP.F has become profitable over the past 5 years, growing earnings by 68.3% per year.

Accelerating Growth: MCRP.F's earnings growth over the past year (209.2%) exceeds its 5-year average (68.3% per year).

Earnings vs Industry: MCRP.F earnings growth over the past year (209.2%) exceeded the Medical Equipment industry 28.2%.


Return on Equity

High ROE: MCRP.F's Return on Equity (9.5%) is considered low.


Return on Assets

ROA vs Industry: MCRP.F's Return on Assets is below or equal to the Medical Equipment industry average last year.


Return on Capital Employed

ROCE Improving: MCRP.F has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is MicroPort Scientific's financial position?


Financial Position Analysis

Short Term Liabilities: MCRP.F's short term assets ($531.3M) exceeds its short term liabilities ($437.9M)

Long Term Liabilities: MCRP.F's short term assets (531.3M) exceeds its long term liabilities (351.7M)


Debt to Equity History and Analysis

Debt Level: MCRP.F's debt to equity ratio (56.9%) is considered high

Reducing Debt: MCRP.F's debt to equity ratio has reduced from 105.1% to 56.9% over the past 5 years.

Debt Coverage: MCRP.F's debt is not well covered by operating cash flow (13.4%).

Interest Coverage: MCRP.F's interest payments on its debt are not well covered by EBIT (2.3x coverage).


Balance Sheet

Inventory Level: MCRP.F has a high level of physical assets or inventory.

Debt Coverage by Assets: MCRP.F's debt is covered by short term assets (assets are 1.611460x debt).


Next Steps

Dividend

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

0.39%

Current Dividend Yield


Dividend Yield vs Market

company0.4%marketbottom25%1.5%markettop25%3.8%industryaverage1.2%forecastin3Years1.2%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: MCRP.F's dividend (0.39%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.46%).

High Dividend: MCRP.F's dividend (0.39%) is low compared to the top 25% of dividend payers in the US market (3.76%).

Stable Dividend: MCRP.F is not paying a notable dividend for the US market, therefore no need to check if payments are stable.

Growing Dividend: MCRP.F is not paying a notable dividend for the US market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: MCRP.F is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MCRP.F's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

6.0yrs

Average management tenure


CEO

Maxwell Chang (56yo)

7.1yrs

Tenure

US$1,895,000

Compensation

Dr. Zhaohua Chang, also known as Maxwell, serves as the Chief Executive Officer Shanghai MicroPort Medical (Group) Co., Ltd. He serves as the Chairman of MicroPort Scientific Corporation. He serves as Chai ...


CEO Compensation Analysis

Compensation vs. Market: Maxwell's total compensation ($USD1.90M) is about average for companies of similar size in the US market ($USD4.07M).

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


Management Age and Tenure

6.0yrs

Average Tenure

55yo

Average Age

Experienced Management: MCRP.F's management team is seasoned and experienced (6 years average tenure).


Board Age and Tenure

9.1yrs

Average Tenure

56yo

Average Age

Experienced Board: MCRP.F's board of directors are considered experienced (9.1 years average tenure).


Insider Trading

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


Recent Insider Transactions

SellUS$63,915,50022 Nov 18
The Carlyle Group L.P.
EntityCompany
Shares50,000,000
Max PriceUS$1.28

Ownership Breakdown


Management Team

  • Qiyi Luo (57yo)

    Chief Technology Officer

    • Tenure: 0yrs
    • Compensation: US$1.94m
  • Maxwell Chang (56yo)

    Founder

    • Tenure: 7.1yrs
    • Compensation: US$1.90m
  • Yan Zhang (49yo)

    President of MP Shanghai

    • Tenure: 0yrs
    • Compensation: US$2.57m
  • Martin Sun (44yo)

    Chief Financial Officer

    • Tenure: 9.3yrs
    • Compensation: US$2.66m
  • Karl Pan (60yo)

    Senior Vice President of Supply Chain of Mp Shanghai

    • Tenure: 0yrs
  • Jonathan Chen (44yo)

    Chief International Business Officer

    • Tenure: 0yrs
  • Junder Chiang (54yo)

    Chief Human Resources Officer

    • Tenure: 4.8yrs
  • Glendy Wang (62yo)

    COO & President of MicroPort Orthopedics

    • Tenure: 0yrs
  • Wing Sze Chan

    Company Secretary

    • Tenure: 0.6yrs
  • Leanne Li

    Board Secretary & Vice President

    • Tenure: 0yrs

Board Members

  • Hiroshi Shirafuji (75yo)

    Non-Executive Director

    • Tenure: 12.9yrs
  • Maxwell Chang (56yo)

    Founder

    • Tenure: 7.1yrs
    • Compensation: US$1.90m
  • Norihiro Ashida (65yo)

    Non-Executive Director

    • Tenure: 12.9yrs
  • Jonathan H. Chou (55yo)

    Independent Non-Executive Director

    • Tenure: 9.1yrs
    • Compensation: US$42.00k
  • Guoen Liu (62yo)

    Independent Non-Executive Director

    • Tenure: 9.1yrs
    • Compensation: US$38.00k
  • Chunyang Shao (55yo)

    Independent Non-Executive Director

    • Tenure: 3.1yrs
    • Compensation: US$38.00k
  • Hongliang Yu (43yo)

    Non-Executive Director

    • Tenure: 1.3yrs

Company Information

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


Key Information

  • Name: MicroPort Scientific Corporation
  • Ticker: MCRP.F
  • Exchange: OTCPK
  • Founded: 1998
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: HK$12.093b
  • Listing Market Cap: HK$1.542b
  • Shares outstanding: 1.61b
  • Website: https://www.microport.com.cn

Number of Employees


Location

  • MicroPort Scientific Corporation
  • 1601 Zhangdong Road
  • Zhangjiang Hi-Tech Park
  • Shanghai
  • 201203
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
853SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDSep 2010
MSKDB (Deutsche Boerse AG)YesOrdinary SharesDEEURSep 2010
MCRP.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDSep 2010
853SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDSep 2010
853SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDSep 2010

Biography

MicroPort Scientific Corporation, an investment holding company, manufactures and markets medical devices in the People’s Republic of China, North America, Europe, other Asian countries, South America, and ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/18 00:51
End of Day Share Price2019/10/04 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.