OTCPK:SSMX.Y

Stock Analysis Report

Executive Summary

Sysmex Corporation, together with its subsidiaries, engages in the development, manufacture, sale, and export/import of diagnostic instruments, reagents, and related software for the use in hematology, urinalysis, immunochemistry, clinical chemistry, and hemostasis.

Snowflake

Fundamentals

Flawless balance sheet second-rate dividend payer.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-3.4%

SSMX.Y

-1.6%

US Medical Equipment

0.07%

US Market


1 Year Return

-11.4%

SSMX.Y

13.8%

US Medical Equipment

8.9%

US Market

Return vs Industry: SSMX.Y underperformed the US Medical Equipment industry which returned 13.8% over the past year.

Return vs Market: SSMX.Y underperformed the US Market which returned 8.9% over the past year.


Shareholder returns

SSMX.YIndustryMarket
7 Day-3.4%-1.6%0.07%
30 Day-7.3%-4.3%-0.3%
90 Day-8.2%-4.3%-1.6%
1 Year-11.4%-11.4%14.7%13.8%11.3%8.9%
3 Year-10.1%-10.1%70.7%65.6%46.3%36.8%
5 Year52.3%52.3%117.3%93.5%62.1%44.3%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

36.75x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SSMX.Y ($31.34) is trading above our estimate of fair value ($28.4)

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


Price To Earnings Ratio

PE vs Industry: SSMX.Y is good value based on its PE Ratio (36.7x) compared to the Medical Equipment industry average (41.8x).

PE vs Market: SSMX.Y is poor value based on its PE Ratio (36.7x) compared to the US market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: SSMX.Y is poor value based on its PEG Ratio (3.6x)


Price to Book Ratio

PB vs Industry: SSMX.Y is overvalued based on its PB Ratio (5.4x) compared to the US Medical Equipment industry average (3.7x).


Next Steps

Future Growth

How is Sysmex forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

10.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SSMX.Y's forecast earnings growth (10.2% per year) is above the savings rate (2.7%).

Earnings vs Market: SSMX.Y's earnings (10.2% per year) are forecast to grow slower than the US market (14.5% per year).

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

Revenue vs Market: SSMX.Y's revenue (8% per year) is forecast to grow faster than the US market (7.2% per year).

High Growth Revenue: SSMX.Y's revenue (8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SSMX.Y's Return on Equity is forecast to be low in 3 years time (15.1%).


Next Steps

Past Performance

How has Sysmex performed over the past 5 years?

9.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: SSMX.Y's earnings have grown by 9% per year over the past 5 years.

Accelerating Growth: SSMX.Y's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SSMX.Y had negative earnings growth (-4.8%) over the past year, making it difficult to compare to the Medical Equipment industry average (28.2%).


Return on Equity

High ROE: SSMX.Y's Return on Equity (14.7%) is considered low.


Return on Assets

ROA vs Industry: SSMX.Y has a higher Return on Assets than the Medical Equipment industry average last year.


Return on Capital Employed

ROCE Improving: SSMX.Y's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Sysmex's financial position?


Financial Position Analysis

Short Term Liabilities: SSMX.Y's short term assets (¥179.8B) exceeds its short term liabilities (¥66.5B)

Long Term Liabilities: SSMX.Y's short term assets (179.8B) exceeds its long term liabilities (26.7B)


Debt to Equity History and Analysis

Debt Level: SSMX.Y is debt free.

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

Debt Coverage: SSMX.Y has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: SSMX.Y has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: SSMX.Y has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if SSMX.Y's debt is covered by short term assets.


Next Steps

Dividend

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

1.06%

Current Dividend Yield


Dividend Yield vs Market

company1.1%marketbottom25%1.4%markettop25%3.7%industryaverage1.2%forecastin3Years1.1%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: SSMX.Y's dividend (1.06%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: SSMX.Y's dividend (1.06%) is low compared to the top 25% of dividend payers in the US market (3.68%).

Stable Dividend: SSMX.Y's dividends per share have been stable in the past 10 years.

Growing Dividend: SSMX.Y's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (37.9%), SSMX.Y's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

2.5yrs

Average management tenure


CEO

Hisashi Ietsugu 0

23.3yrs

Tenure

JP¥203,000,000

Compensation

Mr. Hisashi Ietsugu has been the Chairman of the Managing Board at Sysmex Corporation (a holding company of Sysmex America Inc.) at Sysmex India Pvt. Ltd. since April 2013 and its Chief Executive Officer a ...


CEO Compensation Analysis

Compensation vs. Market: Hisashi's total compensation ($USD0.00) is too low to compare against companies of similar size in the US market ($USD11.18M).

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


Management Age and Tenure

2.5yrs

Average Tenure

Experienced Management: SSMX.Y's management team is considered experienced (2.5 years average tenure).


Board Age and Tenure

6.5yrs

Average Tenure

Experienced Board: SSMX.Y's board of directors are considered experienced (6.5 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.


Ownership Breakdown


Management Team

  • Kaoru Asano (74yo)

    CTO, COO LS Business Unit

    • Tenure: 5.3yrs
  • Yukio Nakajima

    Senior Exec. Officer

    • Tenure: 20.3yrs
  • Hisashi Ietsugu

    Chairman of the Managing Board

    • Tenure: 23.3yrs
    • Compensation: JP¥203.00m
  • Frank Buescher

    Executive Officer

    • Tenure: 0yrs
  • Yukio Hamaguchi

    Senior Executive Officer

    • Tenure: 0.8yrs
  • Junzo Yamamoto

    Senior Executive Officer

    • Tenure: 2.3yrs
  • Iwane Matsui

    Senior Executive Officer & MD

    • Tenure: 2.5yrs
  • Kenji Tachibana

    Senior Executive Officer

    • Tenure: 5.3yrs
  • Ikuo Otani

    Senior Executive Officer

    • Tenure: 0.8yrs
  • Hiroshi Kanda

    Senior Executive Officer & MD

    • Tenure: 2.5yrs

Board Members

  • Kaoru Asano (74yo)

    CTO, COO LS Business Unit

    • Tenure: 5.3yrs
  • Yukio Nakajima

    Senior Exec. Officer

    • Tenure: 20.3yrs
  • Hisashi Ietsugu

    Chairman of the Managing Board

    • Tenure: 23.3yrs
    • Compensation: JP¥203.00m
  • Kazuya Obe

    Member of the Managing Board

    • Tenure: 10.3yrs
  • Mitsuru Watanabe (68yo)

    Member of the Managing Board

    • Tenure: 10.3yrs
  • Junzo Yamamoto

    Senior Executive Officer

    • Tenure: 2.3yrs
  • Kenji Tachibana

    Senior Executive Officer

    • Tenure: 5.3yrs
  • Yukitoshi Kamao

    Member of the Managing Board

    • Tenure: 0yrs
  • Susumu Nishiura

    Outside Member of the Managing Board

    • Tenure: 21.3yrs
  • Koichi Onishi

    Outside Member of the Managing Board

    • Tenure: 3.3yrs

Company Information

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


Key Information

  • Name: Sysmex Corporation
  • Ticker: SSMX.Y
  • Exchange: OTCPK
  • Founded: 1968
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: JP¥1.415t
  • Listing Market Cap: JP¥13.040b
  • Shares outstanding: 208.75m
  • Website: https://www.sysmex.co.jp

Number of Employees


Location

  • Sysmex Corporation
  • 1-5-1, Wakinohama-Kaigandori
  • Chuo-ku
  • Kobe
  • Hyogo
  • 651-0073
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SSMX.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDNov 1995
6869TSE (The Tokyo Stock Exchange)YesCommon StockJPJPYNov 1995
0YXDB (Deutsche Boerse AG)YesCommon StockDEEURNov 1995
SSMX.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDApr 2011

Biography

Sysmex Corporation, together with its subsidiaries, engages in the development, manufacture, sale, and export/import of diagnostic instruments, reagents, and related software for the use in hematology, uri ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/23 00:15
End of Day Share Price2019/10/22 00:00
Earnings2019/06/30
Annual Earnings2019/03/31


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.