NasdaqGM:HBIO

Stock Analysis Report

Executive Summary

Harvard Bioscience, Inc. provides scientific instruments, systems, software, and services used in life science basic research, drug discovery, and clinical and environmental testing.

Snowflake

Fundamentals

Moderate growth potential and slightly overvalued.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-12.3%

HBIO

-0.8%

US Life Sciences

1.3%

US Market


1 Year Return

-41.0%

HBIO

13.1%

US Life Sciences

5.9%

US Market

Return vs Industry: HBIO underperformed the US Life Sciences industry which returned 13.1% over the past year.

Return vs Market: HBIO underperformed the US Market which returned 5.9% over the past year.


Shareholder returns

HBIOIndustryMarket
7 Day-12.3%-0.8%1.3%
30 Day-14.6%-4.2%-1.9%
90 Day52.5%-3.6%-1.8%
1 Year-41.0%-41.0%13.3%13.1%8.3%5.9%
3 Year3.8%3.8%79.3%77.9%45.6%36.2%
5 Year-41.6%-41.6%123.9%113.7%66.1%47.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

14.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: HBIO ($2.7) is trading below our estimate of fair value ($3.16)

Significantly Undervalued: HBIO is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: HBIO is poor value based on its PE Ratio (233.8x) compared to the Life Sciences industry average (32.2x).

PE vs Market: HBIO is poor value based on its PE Ratio (233.8x) compared to the US market (17.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: HBIO is poor value based on its PEG Ratio (3.1x)


Price to Book Ratio

PB vs Industry: HBIO is good value based on its PB Ratio (1.3x) compared to the US Life Sciences industry average (4.5x).


Next Steps

Future Growth

How is Harvard Bioscience forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

75.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HBIO's forecast earnings growth (75.9% per year) is above the savings rate (2.7%).

Earnings vs Market: HBIO's earnings (75.9% per year) are forecast to grow faster than the US market (14.4% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: HBIO's revenue (3.4% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: HBIO's revenue (3.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: HBIO is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has Harvard Bioscience performed over the past 5 years?

-4.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: HBIO's earnings have declined by -4.1% per year over the past 5 years.

Accelerating Growth: HBIO has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: HBIO has become profitable in the last year, making it difficult to compare its past year earnings growth to the Life Sciences industry (45%).


Return on Equity

High ROE: HBIO's Return on Equity (0.5%) is considered low.


Return on Assets

ROA vs Industry: HBIO's Return on Assets is below or equal to the Life Sciences industry average last year.


Return on Capital Employed

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


Next Steps

Financial Health

How is Harvard Bioscience's financial position?


Financial Position Analysis

Short Term Liabilities: HBIO's short term assets ($52.5M) exceeds its short term liabilities ($20.9M)

Long Term Liabilities: HBIO's short term assets (52.5M) do not cover its long term liabilities (65.0M)


Debt to Equity History and Analysis

Debt Level: HBIO's debt to equity ratio (69%) is considered high

Reducing Debt: HBIO's debt to equity ratio has increased from 22.7% to 69% over the past 5 years.

Debt Coverage: HBIO's debt is not well covered by operating cash flow (6.9%).

Interest Coverage: HBIO's interest payments on its debt are not well covered by EBIT (0.7x coverage).


Balance Sheet

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

Debt Coverage by Assets: HBIO's debt is not covered by short term assets (assets are 0.9x debt).


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.5%markettop25%3.8%industryaverage0.4%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate HBIO's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate HBIO's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if HBIO's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if HBIO's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of HBIO'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 Harvard Bioscience's salary, the management and board of directors tenure and is there insider trading?

2.0yrs

Average board tenure


CEO

Jim Green (61yo)

0.3yrs

Tenure

US$153,445

Compensation

Mr. James W. Green, also known as Jim, has been Chairman of Harvard Bioscience, Inc. since June 5, 2017 and has been its Independent Director since April 30, 2015. He serves as President and Chief Executiv ...


Board Age and Tenure

2.0yrs

Average Tenure

54yo

Average Age

Experienced Board: HBIO's board of directors are not considered experienced ( 2 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: HBIO insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$104,53513 Sep 19
Bertrand Loy
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares34,259
Max PriceUS$3.11
BuyUS$50,52420 Aug 19
Thomas Loewald
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares20,000
Max PriceUS$2.53
BuyUS$24,85019 Aug 19
James Green
EntityIndividual
Role
Chief Executive Officer
President
Shares10,000
Max PriceUS$2.49
BuyUS$49,32012 Aug 19
James Green
EntityIndividual
Role
Chief Executive Officer
President
Shares20,000
Max PriceUS$2.47
BuyUS$98,83012 Aug 19
Katherine Eade
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares39,915
Max PriceUS$2.48
BuyUS$6,860,28518 Jul 19
Engine Capital Management, LP
EntityCompany
Shares3,209,490
Max PriceUS$2.14

Ownership Breakdown


Management Team

  • Jim Green (61yo)

    President

    • Tenure: 0.3yrs
    • Compensation: US$153.45k
  • Michael Rossi (45yo)

    Chief Financial Officer

    • Tenure: 0.3yrs
  • Corey Manchester

    VP & Corporate Controller

    • Tenure: 0yrs
  • David Sirois

    Director of Corporate Accounting & SEC Reporting

    • Tenure: 0yrs

Board Members

  • John Kennedy (70yo)

    Independent Director

    • Tenure: 19yrs
    • Compensation: US$142.31k
  • Alan Edrick (51yo)

    Director

    • Tenure: 0.08yrs
  • Bertrand Loy (53yo)

    Lead Independent Director

    • Tenure: 0.3yrs
    • Compensation: US$129.15k
  • Jim Green (61yo)

    President

    • Tenure: 0.3yrs
    • Compensation: US$153.45k
  • Tom Loewald (55yo)

    Independent Director

    • Tenure: 2yrs
    • Compensation: US$125.02k
  • Katherine Eade (45yo)

    Independent Director

    • Tenure: 2yrs
    • Compensation: US$122.23k

Company Information

Harvard Bioscience, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Harvard Bioscience, Inc.
  • Ticker: HBIO
  • Exchange: NasdaqGM
  • Founded: 1901
  • Industry: Life Sciences Tools and Services
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: US$102.724m
  • Shares outstanding: 38.05m
  • Website: https://www.harvardbioscience.com

Number of Employees


Location

  • Harvard Bioscience, Inc.
  • 84 October Hill Road
  • Suite 10
  • Holliston
  • Massachusetts
  • 1746
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HBIONasdaqGM (Nasdaq Global Market)YesCommon StockUSUSDDec 2000
HBIDB (Deutsche Boerse AG)YesCommon StockDEEURDec 2000

Biography

Harvard Bioscience, Inc. provides scientific instruments, systems, software, and services used in life science basic research, drug discovery, and clinical and environmental testing. The company offers phy ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 23:34
End of Day Share Price2019/10/14 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.