NasdaqCM:IDEX

Stock Analysis Report

Executive Summary

Ideanomics, Inc. operates as a financial technology and asset digitization services company.

Rewards

PE ratio (15.5x) is below the US market (18.4x)

Became profitable this year

Risk Analysis

High level of non-cash earnings

Shareholders have been substantially diluted in the past year

Highly volatile share price over past 3 months

Does not have a meaningful market cap ($63M)



Snowflake Analysis

Fair value with questionable track record.


Similar Companies

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Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-18.3%

IDEX

1.7%

US Software

1.5%

US Market


1 Year Return

-62.1%

IDEX

42.3%

US Software

20.1%

US Market

Return vs Industry: IDEX underperformed the US Software industry which returned 42.2% over the past year.

Return vs Market: IDEX underperformed the US Market which returned 20.1% over the past year.


Shareholder returns

IDEXIndustryMarket
7 Day-18.3%1.7%1.5%
30 Day-33.2%7.7%1.4%
90 Day-42.8%18.4%8.7%
1 Year-62.1%-62.1%43.9%42.3%22.7%20.1%
3 Year-71.0%-71.0%152.8%142.4%50.1%40.5%
5 Year-78.8%-78.8%224.7%201.5%73.1%54.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

15.54x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate IDEX's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate IDEX's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: IDEX is good value based on its PE Ratio (15.5x) compared to the Software industry average (52.1x).

PE vs Market: IDEX is good value based on its PE Ratio (15.5x) compared to the US market (18.4x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: IDEX is good value based on its PB Ratio (0.5x) compared to the US Software industry average (6x).


Next Steps

Future Growth

How is Ideanomics forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

11.4%

Forecasted Software industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Ideanomics has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Ideanomics performed over the past 5 years?

11.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IDEX has a high level of non-cash earnings.

Growing Profit Margin: IDEX became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: IDEX has become profitable over the past 5 years, growing earnings by 11.3% per year.

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

Earnings vs Industry: IDEX has become profitable in the last year, making it difficult to compare its past year earnings growth to the Software industry (17.1%).


Return on Equity

High ROE: IDEX's Return on Equity (3.7%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Ideanomics's financial position?


Financial Position Analysis

Short Term Liabilities: IDEX's short term assets ($8.0M) do not cover its short term liabilities ($15.9M).

Long Term Liabilities: IDEX's short term assets ($8.0M) do not cover its long term liabilities ($31.3M).


Debt to Equity History and Analysis

Debt Level: IDEX's debt to equity ratio (19.1%) is considered satisfactory.

Reducing Debt: IDEX's debt to equity ratio has increased from 16.4% to 19.1% over the past 5 years.


Balance Sheet

Inventory Level: IDEX has a low level of unsold assets or inventory.

Debt Coverage by Assets: IDEX's debt is not covered by short term assets (assets are 0.4x 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.

Stable Cash Runway: IDEX is profitable, therefore cash runway is not a concern.

Forecast Cash Runway: IDEX is profitable, therefore cash runway is not a concern.


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage1.2%forecastin3Yearsn/a

Current dividend yield vs market & industry

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

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


Stability and Growth of Payments

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

Growing Dividend: Insufficient data to determine if IDEX'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 IDEX'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?

1.1yrs

Average management tenure


CEO

Alf Poor (49yo)

1yrs

Tenure

US$83,333

Compensation

Mr. Alfred P. Poor, also known as Alf, has been Chief Executive Officer at Ideanomics, Inc. since February 15, 2019 and Director at Ideanomics, Inc. since February 20, 2019. Mr. Poor has been Chief Operati ...


CEO Compensation Analysis

Compensation vs Market: Alf's total compensation ($USD83.33K) is below average for companies of similar size in the US market ($USD521.92K).

Compensation vs Earnings: Insufficient data to compare Alf's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Zheng Wu
Executive Chairman4.1yrsno data17.11% $10.7m
Alfred Poor
President1yrsUS$83.33kno data
Shane B. McMahon
Founder & Independent Vice Chairman4.1yrsno data2.29% $1.4m
Kang Zhao
Head of Financing and Battery Operations -Mobile Energy Group0.4yrsUS$156.00k0.045% $28.0k
Conor McCarthy
CFO & Principal Accounting Officer0.4yrsno datano data
Jason Finkelstein
Vice President of Investor Relations0yrsno datano data
Tony Sklar
Vice President of Communications0yrsno datano data
Drew Colvin
Vice President of Corporate Development1.4yrsno datano data
Kate Lam
Managing Director of Digital Capital Markets1.4yrsno datano data
Carla Zhou
Chief Revenue Officer1.3yrsno datano data

1.1yrs

Average Tenure

49yo

Average Age

Experienced Management: IDEX's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Zheng Wu
Executive Chairman4.1yrsno data17.11% $10.7m
Alfred Poor
President1yrsUS$83.33kno data
Shane B. McMahon
Founder & Independent Vice Chairman4.1yrsno data2.29% $1.4m
Harry Edelson
Independent Director0.4yrsno datano data
Steven Fadem
Independent Director0.5yrsno datano data
Chao Yang
Independent Director1.5yrsUS$156.00kno data
James S. Cassano
Independent Director12.1yrsUS$202.80k0.10% $62.5k
John Wallace
Independent Director0.6yrsno data0.25% $158.7k
Jian Ren Fan
Independent Director4.1yrsUS$202.80k0.042% $26.5k

1.5yrs

Average Tenure

61yo

Average Age

Experienced Board: IDEX's board of directors are not considered experienced ( 1.5 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.


Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 57%.


Top Shareholders

Company Information

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


Key Information

  • Name: Ideanomics, Inc.
  • Ticker: IDEX
  • Exchange: NasdaqCM
  • Founded: 2004
  • Industry: Application Software
  • Sector: Software
  • Market Cap: US$62.680m
  • Shares outstanding: 134.28m
  • Website: https://www.ideanomics.com

Number of Employees


Location

  • Ideanomics, Inc.
  • 55 Broadway
  • 19th Floor
  • New York
  • New York
  • 10006
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IDEXNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDJan 2007

Biography

Ideanomics, Inc. operates as a financial technology and asset digitization services company. The company operates in two segments, Legacy YOD and Wecast Service. It engages in the provision of business consulting services related to traditional financings, as well as in developing digital asset securitization services through artificial intelligence and blockchain enabled financial services platforms. In addition, the company engages in consumer electronics e-commerce and smart supply chain management operations, as well as in oil trading business. Further, it provides premium content and integrated value-added service solutions for the delivery of video on demand and paid video programing to digital cable providers, Internet protocol television providers, over-the-top streaming providers, mobile manufacturers, and operators, as well as direct customers. The company was formerly known as Seven Stars Cloud Group, Inc. Ideanomics, Inc. was founded in 2004 and is headquartered in New York, New York. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/17 00:01
End of Day Share Price2020/02/14 00:00
Earnings2019/09/30
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.