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TiVo

Nasdaq:TIVO
Snowflake Description

Second-rate dividend payer with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TIVO
Nasdaq
$1B
Market Cap
  1. Home
  2. US
  3. Software
Company description

TiVo Corporation provides media and entertainment products for the consumer entertainment industry worldwide. The last earnings update was 52 days ago. More info.


Add to Portfolio Compare Print
  • TiVo has significant price volatility in the past 3 months.
TIVO Share Price and Events
7 Day Returns
-2.2%
NasdaqGS:TIVO
1%
US Software
0.8%
US Market
1 Year Returns
-38.6%
NasdaqGS:TIVO
25.3%
US Software
5.9%
US Market
TIVO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
TiVo (TIVO) -2.2% -3.6% -19% -38.6% -49.6% -59%
US Software 1% 2.9% 15.8% 25.3% 107.7% 150.5%
US Market 0.8% 2.6% 10.6% 5.9% 37.7% 45.5%
1 Year Return vs Industry and Market
  • TIVO underperformed the Software industry which returned 25.3% over the past year.
  • TIVO underperformed the Market in United States of America which returned 5.9% over the past year.
Price Volatility
TIVO
Industry
5yr Volatility vs Market
Related Companies

Value

 Is TiVo undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of TiVo to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for TiVo.

NasdaqGS:TIVO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 12.4%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:TIVO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Software Unlevered Beta Simply Wall St/ S&P Global 1.14
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.14 (1 + (1- 21%) (88.04%))
1.625
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.63
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.625 * 5.96%)
12.42%

Discounted Cash Flow Calculation for NasdaqGS:TIVO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for TiVo is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqGS:TIVO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 12.42%)
2019 118.00 Analyst x1 104.97
2020 109.00 Analyst x1 86.25
2021 103.86 Est @ -4.72% 73.10
2022 101.27 Est @ -2.49% 63.41
2023 100.34 Est @ -0.92% 55.89
2024 100.52 Est @ 0.17% 49.80
2025 101.46 Est @ 0.94% 44.72
2026 102.96 Est @ 1.48% 40.37
2027 104.87 Est @ 1.85% 36.57
2028 107.09 Est @ 2.12% 33.22
Present value of next 10 years cash flows $588.31
NasdaqGS:TIVO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $107.09 × (1 + 2.73%) ÷ (12.42% – 2.73%)
$1,135.71
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,135.71 ÷ (1 + 12.42%)10
$352.33
NasdaqGS:TIVO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $588.31 + $352.33
$940.64
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $940.64 / 124.91
$7.53
NasdaqGS:TIVO Discount to Share Price
Calculation Result
Value per share (USD) From above. $7.53
Current discount Discount to share price of $9.05
= -1 x ($9.05 - $7.53) / $7.53
-20.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of TiVo is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for TiVo's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are TiVo's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:TIVO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-2.87
NasdaqGS:TIVO Share Price ** NasdaqGS (2019-04-18) in USD $9.05
United States of America Software Industry PE Ratio Median Figure of 82 Publicly-Listed Software Companies 55.7x
United States of America Market PE Ratio Median Figure of 3,078 Publicly-Listed Companies 18.23x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of TiVo.

NasdaqGS:TIVO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:TIVO Share Price ÷ EPS (both in USD)

= 9.05 ÷ -2.87

-3.15x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • TiVo is loss making, we can't compare its value to the US Software industry average.
  • TiVo is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does TiVo's expected growth come at a high price?
Raw Data
NasdaqGS:TIVO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -3.15x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
79.3%per year
United States of America Software Industry PEG Ratio Median Figure of 66 Publicly-Listed Software Companies 3.36x
United States of America Market PEG Ratio Median Figure of 2,108 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for TiVo, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on TiVo's assets?
Raw Data
NasdaqGS:TIVO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $12.06
NasdaqGS:TIVO Share Price * NasdaqGS (2019-04-18) in USD $9.05
United States of America Software Industry PB Ratio Median Figure of 218 Publicly-Listed Software Companies 5.84x
United States of America Market PB Ratio Median Figure of 5,172 Publicly-Listed Companies 1.93x
NasdaqGS:TIVO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:TIVO Share Price ÷ Book Value per Share (both in USD)

= 9.05 ÷ 12.06

0.75x

* Primary Listing of TiVo.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • TiVo is good value based on assets compared to the US Software industry average.
X
Value checks
We assess TiVo's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Software industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Software industry average (and greater than 0)? (1 check)
  5. TiVo has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is TiVo expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
79.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is TiVo expected to grow at an attractive rate?
  • Unable to compare TiVo's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare TiVo's earnings growth to the United States of America market average as it is expected to be loss making during the next 1-3 years.
  • TiVo's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:TIVO Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:TIVO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 79.3%
NasdaqGS:TIVO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts -2.4%
United States of America Software Industry Earnings Growth Rate Market Cap Weighted Average 15.8%
United States of America Software Industry Revenue Growth Rate Market Cap Weighted Average 10.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:TIVO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:TIVO Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 670 114 -89 2
2019-12-31 644 98 -93 3
NasdaqGS:TIVO Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 696 159 -353
2018-09-30 742 195 -46
2018-06-30 775 169 -40
2018-03-31 811 188 -22
2017-12-31 826 132 -38
2017-09-30 865 107 -47
2017-06-30 820 113 25
2017-03-31 736 123 20
2016-12-31 649 134 37
2016-09-30 546 120 54
2016-06-30 508 123 -19
2016-03-31 511 108 -6

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • TiVo is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • TiVo's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:TIVO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from TiVo Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:TIVO Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 -0.71 -0.56 -0.86 2.00
2019-12-31 -0.75 -0.58 -1.00 3.00
NasdaqGS:TIVO Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -2.87
2018-09-30 -0.38
2018-06-30 -0.33
2018-03-31 -0.18
2017-12-31 -0.32
2017-09-30 -0.39
2017-06-30 0.22
2017-03-31 0.20
2016-12-31 0.40
2016-09-30 0.64
2016-06-30 -0.24
2016-03-31 -0.08

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • TiVo is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess TiVo's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
TiVo has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has TiVo performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare TiVo's growth in the last year to its industry (Software).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • TiVo does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare TiVo's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare TiVo's 1-year growth to the US Software industry average as it is not currently profitable.
Earnings and Revenue History
TiVo's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from TiVo Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:TIVO Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 695.87 -353.06 175.44 177.29
2018-09-30 741.64 -46.44 187.74 183.89
2018-06-30 774.83 -40.41 194.99 190.71
2018-03-31 810.53 -22.31 197.66 193.89
2017-12-31 826.46 -37.96 201.74 194.38
2017-09-30 864.56 -46.53 179.71 189.65
2017-06-30 819.79 24.88 193.26 171.15
2017-03-31 736.47 20.24 184.96 148.23
2016-12-31 649.09 37.25 194.37 125.17
2016-09-30 546.29 53.68 175.79 100.77
2016-06-30 508.06 -19.22 149.03 93.36
2016-03-31 510.63 -6.47 152.77 95.43
2015-12-31 526.27 -4.29 156.03 99.90
2015-09-30 510.94 -36.47 150.20 102.50
2015-06-30 524.64 -24.62 150.19 104.89
2015-03-31 533.89 -30.68 146.91 108.09
2014-12-31 542.31 -13.52 142.35 106.63
2014-09-30 560.09 2.90 141.43 107.20
2014-06-30 554.98 15.55 144.11 108.62
2014-03-31 547.07 23.95 144.79 109.24
2013-12-31 537.39 21.34 147.54 111.33
2013-09-30 423.69 -18.18 137.63 94.24
2013-06-30 463.90 -26.10 138.46 101.04
2013-03-31 489.35 -34.93 140.65 107.36
2012-12-31 526.09 -20.14 139.52 117.99
2012-09-30 655.17 30.76 154.03 140.17
2012-06-30 673.38 38.12 163.92 150.51

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if TiVo has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if TiVo has efficiently used its assets last year compared to the US Software industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if TiVo improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess TiVo's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Software industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
TiVo has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is TiVo's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up TiVo's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • TiVo's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • TiVo's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of TiVo's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from TiVo Company Filings, last reported 3 months ago.

NasdaqGS:TIVO Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,492.94 995.15 321.08
2018-09-30 1,791.57 989.95 311.73
2018-06-30 1,824.53 988.87 297.31
2018-03-31 1,863.91 989.05 288.52
2017-12-31 1,853.02 992.83 269.83
2017-09-30 1,843.99 995.81 225.21
2017-06-30 1,862.43 995.62 213.47
2017-03-31 1,873.43 993.99 290.94
2016-12-31 1,909.64 994.04 309.71
2016-09-30 1,881.94 1,236.72 503.84
2016-06-30 1,028.09 1,010.55 273.89
2016-03-31 1,026.30 1,005.73 192.32
2015-12-31 1,030.57 992.71 209.55
2015-09-30 993.71 1,007.02 147.79
2015-06-30 1,050.65 1,069.83 216.84
2015-03-31 1,067.48 1,127.55 304.23
2014-12-31 1,106.26 1,118.04 337.64
2014-09-30 1,175.38 1,112.18 392.60
2014-06-30 1,168.44 1,158.00 441.95
2014-03-31 1,157.05 1,150.84 424.45
2013-12-31 1,313.22 1,193.51 522.46
2013-09-30 1,435.96 1,390.74 691.37
2013-06-30 1,422.60 1,381.78 713.38
2013-03-31 1,542.68 1,386.02 737.77
2012-12-31 1,587.42 1,480.23 863.34
2012-09-30 1,570.80 1,482.10 821.21
2012-06-30 1,655.60 1,476.44 873.17
  • TiVo's level of debt (66.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (91% vs 66.7% today).
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.

  • Whilst loss making TiVo has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making TiVo has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -11.5% per year.
X
Financial health checks
We assess TiVo's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. TiVo has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
7.96%
Current annual income from TiVo dividends. Estimated to be 7.96% next year.
If you bought $2,000 of TiVo shares you are expected to receive $159 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • TiVo's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • TiVo's dividend is above the markets top 25% of dividend payers in United States of America (3.63%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:TIVO Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America Software Industry Average Dividend Yield Market Cap Weighted Average of 23 Stocks 1.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2009 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:TIVO Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.72 1.00
2019-12-31 0.72 1.00
NasdaqGS:TIVO Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-11-07 0.720 7.168
2018-05-10 0.720 5.554
2017-11-02 0.720 4.868
2017-08-03 0.720 3.856
2017-05-03 0.720 3.966
2017-02-15 0.720 3.831

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, TiVo has been paying a dividend for less than 10 years.
  • TiVo has only been paying a dividend for 2 years, and since then there has been no growth.
Current Payout to shareholders
What portion of TiVo's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.2x coverage).
X
Income/ dividend checks
We assess TiVo's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can TiVo afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. TiVo has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Raghu Rau
COMPENSATION $3,222,257
AGE 69
TENURE AS CEO 0.8 years
CEO Bio

Mr. Raghavendra Rau, also known as Raghu, has been Interim President, Chief Executive Officer and Director of TiVo Corporation since July 5, 2018. Mr. Rau served as the Chief Executive Officer of SeaChange International Inc. from May 1, 2012 to October 21, 2014. He served as an Interim Chief Executive Officer of SeaChange International from November 2011 to May 1, 2012. He is an accomplished global executive who has led transformative change in the technology and software industries. He served as a Senior Vice President of Strategy and Business Development at Networks & Enterprise of Motorola Inc. from March 2006 to May 2007. Mr. Rau was responsible for driving the business strategy for Motorola Networks and leading the global marketing efforts for network solutions delivered to wireless and wireline carriers worldwide. He served as Senior Vice President of the Mobile TV Solutions Business at Motorola Inc. from May 2007 to January 2008. He served as Senior Vice President of Global Marketing and Strategy Networks of Motorola Solutions, Inc. and Corporate Vice President of Global Marketing and Strategy from 2005 to 2006. He served as the Chief Marketing Officer and Corporate Vice President, Marketing and Professional Services at Motorola Inc. from 2001 to 2005. From October 1992 to 2001, Mr. Rau served in various positions within Motorola, including as Vice President of Strategic Business Planning and Vice President of Sales & Operations and held positions in Asia and Europe. He serves as a Strategic Advisor specializing in global marketing and business strategy and venture capital and market development for high-technology companies. He is a Global Management Professional with strong operational, marketing and strategic leadership experience and relationships in the technology industry. With more than 17 years experience in the telecommunications industry, Mr. Rau has an impressive record of success in disruptive technologies to market. He has guest lectured at reputed universities across the globeand is a frequent speaker at major industry conferences. He served as the Chief Strategy Officer and Chief Marketing Officer of Motorola. He joined Motorola in 1992, has had assignments throughout Asia, Europe and the United States and has experience ranging from large multinational corporations to the establishment of start-ups. Before joining Motorola, Mr. Rau served as the General Manager and Co-Founder of a telecommunications services company in Qatar and served as the General Manager of a Multinational in India. He serves as a Member of the Advisory Board at inSORS Integrated Communications, Inc. He served as the Executive Chairman of Quantum Corporation since September 1, 2017 until 2018. He served as the Chairman of Quest Forum and serves as its Executive Board. He serves as Vice Chairman of the Quest Forum. He serves as a Board Member of the Center for Telecom Management at the University of Southern California. Mr. Rau serves as a Member of Marketing Advisory Board of Cleversafe, Inc. and on the Strategic Advisory Board of IOCOM Integrated Communications. Since 2009, Mr. Rau has been a Founding Director of iProf Learning Solutions, an e-learning company. He has been a Director at Quantum Corporation since March 31, 2017. He served as an Independent Director of TiVo Corporation from May 13, 2015 to July 2018. He served as a Director of SeaChange International Inc. from July 15, 2010 to October 21, 2014. He served as a Director of Microtune Inc. from May 20, 2010 to November 30, 2010. He served as a Director of Aviat Networks, Inc. since November 9, 2010 until January 2015. He also served on the Motorola Partnership Board of France Telecom. He won the coveted Chief Executive Officer Leadership Award in 2007 for his many accomplishments. He has authored case studies on Global Marketing that have been taught at leading international universities. Mr. Rau holds a Bachelor's degree in Engineering from the National Institute of Technology (Surathkal, India) and an MBA from the Indian Institute of Management.

CEO Compensation
  • Raghu's compensation has increased whilst company is loss making.
  • Raghu's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the TiVo management team in years:

3.7
Average Tenure
50
Average Age
  • The tenure for the TiVo management team is about average.
Management Team

Raghu Rau

TITLE
Interim President
COMPENSATION
$3M
AGE
69
TENURE
0.8 yrs

Peter Halt

TITLE
Chief Financial Officer
COMPENSATION
$2M
AGE
57
TENURE
6.9 yrs

Matt Milne

TITLE
Chief Revenue Officer
COMPENSATION
$1M
AGE
50
TENURE
2.3 yrs

Michael Hawkey

TITLE
Senior VP & GM of User Experience
COMPENSATION
$2M
AGE
53
TENURE
3.7 yrs

Arvin Patel

TITLE
Executive VP & Chief Intellectual Property Officer
COMPENSATION
$1M
AGE
46
TENURE
1.7 yrs

Wesley Gutierrez

TITLE
Chief Accounting Officer & Treasurer
AGE
40
TENURE
3.8 yrs

Debi Palmer

TITLE
Investor Relations Professional
TENURE
5.3 yrs

Pamela Sergeeff

TITLE
Executive VP
COMPENSATION
$2M
AGE
45
TENURE
5.3 yrs

Sean Matthews

TITLE
Executive Vice President of Strategy & Corporate Development
TENURE
4.6 yrs

Connie Puglia

TITLE
Senior VP & Chief Human Resources Officer
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the TiVo board of directors in years:

3.8
Average Tenure
63
Average Age
  • The tenure for the TiVo board of directors is about average.
Board of Directors

Jim Meyer

TITLE
Chairman of the Board
COMPENSATION
$258K
AGE
63
TENURE
3.8 yrs

Raghu Rau

TITLE
Interim President
COMPENSATION
$3M
AGE
69
TENURE
3.9 yrs

Alan Earhart

TITLE
Independent Director
COMPENSATION
$226K
AGE
74
TENURE
10.9 yrs

Glenn Welling

TITLE
Independent Director
COMPENSATION
$217K
AGE
47
TENURE
3.9 yrs

Eddy Hartenstein

TITLE
Independent Director
COMPENSATION
$209K
AGE
67
TENURE
3.6 yrs

Jeff Hinson

TITLE
Independent Director
COMPENSATION
$208K
AGE
63
TENURE
2.6 yrs

Dan Moloney

TITLE
Independent Director
COMPENSATION
$207K
AGE
58
TENURE
2.6 yrs

Laura Durr

TITLE
Director
AGE
57

Loria Yeadon

TITLE
Director
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
22. Jun 18 Buy Enrique Rodriguez Individual 20. Jun 18 20. Jun 18 691 $14.58 $10,075
X
Management checks
We assess TiVo's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. TiVo has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Such Is Life: How TiVo (NASDAQ:TIVO) Shareholders Saw Their Shares Drop 57%

TiVo isn't a profitable company, so it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). … Shareholders of unprofitable companies usually expect strong revenue growth. … The chart below shows how revenue and earnings have changed with time, (if you click on the chart you can see the actual values)

Simply Wall St -

What You Need To Know About TiVo Corporation’s (NASDAQ:TIVO) Cash Situation

If you are currently a shareholder in TiVo Corporation (NASDAQ:TIVO), or considering investing in the stock, you need to examine how the business generates cash, and how it is reinvested. … I’ve analysed below, the health and outlook of TiVo’s cash flow, which will help you understand the stock from a cash standpoint. … Free cash flow (FCF) is the amount of cash TiVo has left after it pays off its expenses, including its net capital expenditures, which is what the company needs to spend each year to maintain or grow its business operations.

Simply Wall St -

Is TiVo Corporation's (NASDAQ:TIVO) Balance Sheet Strong Enough To Weather A Storm?

TiVo Corporation (NASDAQ:TIVO) is a small-cap stock with a market capitalization of US$1.3b. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Assessing first and foremost the financial health is

Simply Wall St -

How Has TiVo Corporation's (NASDAQ:TIVO) Earnings Fared Against The Long Term Trend

Today I will examine TiVo Corporation's (NASDAQ:TIVO) latest earnings update (30 September 2018) and compare these figures against its performance over the past couple of years, in addition to how the rest of TIVO's industry performed. … TIVO is loss-making, with the most recent trailing twelve-month earnings of -US$46m (from 30 September 2018), which compared to last year has become. … Furthermore, the company's loss seem to be growing over time, with the five-year earnings average of -US$4m

Simply Wall St -

What You Must Know About TiVo Corporation's (NASDAQ:TIVO) Financial Strength

While small-cap stocks, such as TiVo Corporation (NASDAQ:TIVO) with its market cap of US$1.5b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

An Intrinsic Calculation For TiVo Corporation (NASDAQ:TIVO) Shows It's 31.88% Undervalued

I am going to run you through how I calculated the intrinsic value of TiVo Corporation (NASDAQ:TIVO). … by taking the expected future cash flows and discounting them to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

Simply Wall St -

Is TiVo Corporation's (NASDAQ:TIVO) Balance Sheet A Threat To Its Future?

Investors are always looking for growth in small-cap stocks like TiVo Corporation (NASDAQ:TIVO), with a market cap of US$1.78b. … However, an important fact which most ignore is: how financially healthy is the business? … Companies operating in the Software industry,

Simply Wall St -

Should TiVo Corporation (NASDAQ:TIVO) Be Part Of Your Dividend Portfolio?

Recently, TiVo Corporation (NASDAQ:TIVO) has returned an average of 4.00% per year to shareholders in terms of dividend yield. … See our latest analysis for TiVo How I analyze a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Does it pay an annual yield higher than 75% of dividend payers? … Generally, the rule of thumb for determining whether a stock is a reliable dividend payer is that it should be consistently paying dividends for the past 10 years or more.

Simply Wall St -

Why TiVo Corporation (NASDAQ:TIVO) Could Be A Buy

TiVo Corporation (NASDAQ:TIVO), a software company based in United States, saw a decent share price growth in the teens level on the NasdaqGS over the last few months. … With an optimistic outlook on the horizon, it seems like this growth has not yet been fully factored into the share price. … Its prosperous future outlook isn’t fully reflected in the current share price yet, which means it’s not too late to buy TiVo.

Simply Wall St -

Investors Are Undervaluing TiVo Corporation (NASDAQ:TIVO) By 40.14%, Here Is My Intrinsic Value Calculation

I am going to run you through how I calculated the intrinsic value of TiVo Corporation (NASDAQ:TIVO) by taking the expected future cash flows and discounting them to today's value. … 5-year cash flow forecast 2017 2018 2019 2020 2021 Levered FCF (USD, Millions) $129.30 $308.27 $306.35 $276.50 $303.16 Source Analyst x2 Analyst x3 Analyst x2 Analyst x1 Extrapolated @ (9.64%) Present Value Discounted @ 11.56% $115.90 $247.69 $220.64 $178.51 $175.43 Present Value of 5-year Cash Flow (PVCF)= $938 We now need to calculate the Terminal Value, which accounts for all the future cash flows after the five years. … Terminal Value (TV) = FCF2021 × (1 + g) ÷ (r – g) = $303 × (1 + 2.5%) ÷ (11.6% – 2.5%) = $3,417 Present Value of Terminal Value (PVTV) = TV / (1 + r)5 = $3,417 / ( 1 + 11.6%)5 = $1,978 The total value is the sum of cash flows for the next five years and the discounted terminal value, which results in the Total Equity Value, which in this case is $2,916.

Simply Wall St -

Company Info

Description

TiVo Corporation provides media and entertainment products for the consumer entertainment industry worldwide. The company operates in two segments, Product and Intellectual Property Licensing. The Product segment offers platform solutions, such as TiVo Service Platform, a cloud-based service that powers the TiVo Service client software, which operates on set-top boxes in consumer homes, as well as applications that operate on third party software platforms, such as iOS and Android; user experience solutions that allow service providers to customize elements of the interactive program guides for their customers, as well as to upgrade their programming features and services under the G-GUIDE brand; and CubiTV and TiVo Lite middleware solutions for pay TV service providers comprising cable, satellite, terrestrial, and telecommunications operators. It also provides software and services, including metadata, personalized content discovery and natural language voice, advanced media and advertising, and analog content protection services. As of December 31, 2017, this segment provided platform solutions to 22 million pay TV and consumer households. The Intellectual Property Licensing segment licenses its patent portfolio to the United States and international pay-television providers, mobile device manufacturers, consumer electronics manufacturers, and over-the-top video providers. The company was formerly known as Rovi Corporation and changed its name to TiVo Corporation in September 2016. TiVo Corporation was founded in 1983 and is based in San Jose, California.

Details
Name: TiVo Corporation
TIVO
Exchange: NasdaqGS
Founded: 1983
$1,130,394,467
124,905,466
Website: http://business.tivo.com
Address: TiVo Corporation
2160 Gold Street,
San Jose,
California, 95002,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS TIVO Common Stock Nasdaq Global Select US USD 13. Mar 1997
DB 3T3 Common Stock Deutsche Boerse AG DE EUR 13. Mar 1997
Number of employees
Current staff
Staff numbers
1,700
TiVo employees.
Industry
Systems Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 00:11
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/02/27
Last earnings filing: 2019/02/26
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.