OTCPK:MHIV.F

Stock Analysis Report

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Executive Summary

Invesque Inc. operates as a real estate investment company in Canada and the United States.


Snowflake Analysis

Fair value with imperfect balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: MHIV.F's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

19.2%

MHIV.F

6.7%

US Real Estate

2.9%

US Market


1 Year Return

-65.7%

MHIV.F

-10.5%

US Real Estate

8.9%

US Market

Return vs Industry: MHIV.F underperformed the US Real Estate industry which returned -10.5% over the past year.

Return vs Market: MHIV.F underperformed the US Market which returned 8.9% over the past year.


Shareholder returns

MHIV.FIndustryMarket
7 Day19.2%6.7%2.9%
30 Day-4.4%18.0%10.6%
90 Day-61.4%-18.4%5.1%
1 Year-62.1%-65.7%-9.9%-10.5%11.4%8.9%
3 Year-66.9%-75.1%-11.3%-13.3%34.3%25.4%
5 Yearn/a-19.0%-21.4%60.7%42.7%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MHIV.F ($2.4) is trading below our estimate of fair value ($6.76)

Significantly Below Fair Value: MHIV.F is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: MHIV.F is unprofitable, so we can't compare its PE Ratio to the Real Estate industry average.

PE vs Market: MHIV.F is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MHIV.F's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: MHIV.F is good value based on its PB Ratio (0.4x) compared to the US Real Estate industry average (1.1x).


Next Steps

Future Growth

How is Invesque forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

12.6%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if MHIV.F's forecast earnings growth is above the savings rate (2.2%).

Earnings vs Market: Insufficient data to determine if MHIV.F's earnings are forecast to grow faster than the US market

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

Revenue vs Market: MHIV.F's revenue (12.6% per year) is forecast to grow faster than the US market (8.8% per year).

High Growth Revenue: MHIV.F's revenue (12.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if MHIV.F's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Invesque performed over the past 5 years?

-36.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MHIV.F is currently unprofitable.

Growing Profit Margin: MHIV.F is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: MHIV.F is unprofitable, and losses have increased over the past 5 years at a rate of -36.1% per year.

Accelerating Growth: Unable to compare MHIV.F's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MHIV.F is unprofitable, making it difficult to compare its past year earnings growth to the Real Estate industry (-6.4%).


Return on Equity

High ROE: MHIV.F has a negative Return on Equity (-16.76%), as it is currently unprofitable.


Next Steps

Financial Health

How is Invesque's financial position?


Financial Position Analysis

Short Term Liabilities: MHIV.F's short term assets ($49.0M) do not cover its short term liabilities ($77.1M).

Long Term Liabilities: MHIV.F's short term assets ($49.0M) do not cover its long term liabilities ($1.1B).


Debt to Equity History and Analysis

Debt Level: MHIV.F's debt to equity ratio (265.8%) is considered high.

Reducing Debt: Insufficient data to determine if MHIV.F's debt to equity ratio has reduced over the past 5 years.


Balance Sheet


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.

Stable Cash Runway: Whilst unprofitable MHIV.F has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: MHIV.F is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 3.3% per year.


Next Steps

Dividend

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

31.27%

Forecast Dividend Yield


Dividend Yield vs Market

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

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


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: MHIV.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 MHIV.F's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.0yrs

Average management tenure


CEO

Scott White (45yo)

3.42yrs

Tenure

US$3,726,493

Compensation

Mr. Scott Eric White, J.D., CPA, has been the Chief Executive Officer of Invesque Inc. since January 09, 2017 and serves as its President. Mr. White is Chairman of the Board at Invesque Inc. since March 11 ...


CEO Compensation Analysis

Compensation vs Market: Scott's total compensation ($USD3.73M) is above average for companies of similar size in the US market ($USD577.87K).

Compensation vs Earnings: Scott's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Scott White
Chairman3.42yrsUS$3.73m0.20% $269.6k
Scott Higgs
Chief Financial Officer4.42yrsUS$1.48m0.14% $179.8k
Adlai Chester
Chief Investment Officer & Non Independent Director1.08yrsUS$1.57m0.10% $134.7k
Jim Rees
Director of Accountingno datano datano data
Vineet Bedi
Chief Strategy Officer & IRno datano datano data
Christine Johnson
Director of Marketingno datano datano data
Julie Michael
Executive Assistant & HR Coordinatorno datano datano data
Dennis Dechow
Vice President of Asset Servicesno datano datano data
Bryan Hickman
Senior Vice President of Investments2.08yrsno datano data
Mark Lyons
VP & Controllerno datano datano data

3.0yrs

Average Tenure

36.5yo

Average Age

Experienced Management: MHIV.F's management team is considered experienced (3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Scott White
Chairman3.42yrsUS$3.73m0.20% $269.6k
Adlai Chester
Chief Investment Officer & Non Independent Director1.08yrsUS$1.57m0.10% $134.7k
Donna Brandin
Independent Director0.92yrUS$66.25kno data
Charles Herman
Lead Independent Director1.25yrsUS$147.10kno data
Randy Maultsby
Independent Director2.33yrsno datano data
Shaun Hawkins
Independent Director4.17yrsUS$103.75kno data
Brad Benbow
Non Independent Director4.17yrsUS$125.00k0.011% $14.2k

1.3yrs

Average Tenure

46yo

Average Age

Experienced Board: MHIV.F's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Insufficient data to determine if shareholders have been diluted in the past year.


Top Shareholders

Company Information

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


Key Information

  • Name: Invesque Inc.
  • Ticker: MHIV.F
  • Exchange: OTCPK
  • Founded:
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: CA$178.401m
  • Listing Market Cap: CA$131.939m
  • Shares outstanding: 55.75m
  • Website: https://invesque.com

Number of Employees


Location

  • Invesque Inc.
  • 333 Bay Street
  • Suite 3400
  • Toronto
  • Ontario
  • M5H 2S7
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IVQTSX (The Toronto Stock Exchange)YesCommon SharesCACADJun 2016
MHIV.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDJun 2016

Biography

Invesque Inc. operates as a real estate investment company in Canada and the United States. Its portfolio of investments include independent living, assisted living, memory care, skilled nursing, transitional care, and medical office properties. As of March 11, 2020, it owned a portfolio of 108 properties, including 74 assisted living and memory care facilities, 17 skilled nursing facilities, 13 transitional care properties, and 4 medical office buildings in the United States; and 15 properties comprised 11 medical office buildings, and 4 seniors housing and care facilities in Canada. The company was formerly known as Mainstreet Health Investments Inc. and changed its name to Invesque Inc. in January 2018. Invesque Inc. is headquartered in Toronto, Canada. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/05 07:22
End of Day Share Price2020/06/04 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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.