NasdaqGS:TIVO

Stock Analysis Report

Executive Summary

TiVo Corporation provides media and entertainment products for the consumer entertainment industry worldwide.


Snowflake Analysis

Adequate balance sheet with moderate growth potential.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-7.0%

TIVO

-1.0%

US Software

-2.0%

US Market


1 Year Return

-33.6%

TIVO

6.5%

US Software

-15.1%

US Market

Return vs Industry: TIVO underperformed the US Software industry which returned 6.5% over the past year.

Return vs Market: TIVO underperformed the US Market which returned -15.1% over the past year.


Shareholder returns

TIVOIndustryMarket
7 Day-7.0%-1.0%-2.0%
30 Day-11.1%-15.0%-19.7%
90 Day-24.5%-8.6%-23.2%
1 Year-32.1%-33.6%7.6%6.5%-13.4%-15.1%
3 Year-61.8%-66.4%100.0%91.4%10.9%3.7%
5 Year-61.2%-66.2%162.3%143.8%28.4%14.4%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

1.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TIVO ($6.23) is trading below our estimate of fair value ($6.29)

Significantly Below Fair Value: TIVO is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: TIVO is unprofitable, so we can't compare its PE Ratio to the Software industry average.

PE vs Market: TIVO 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 TIVO's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: TIVO is good value based on its PB Ratio (0.7x) compared to the US Software industry average (4.1x).


Next Steps

Future Growth

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

165.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TIVO is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.7%).

Earnings vs Market: TIVO is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: TIVO's is expected to become profitable in the next 3 years.

Revenue vs Market: TIVO's revenue (2.8% per year) is forecast to grow slower than the US market (7.1% per year).

High Growth Revenue: TIVO's revenue (2.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TIVO's Return on Equity is forecast to be low in 3 years time (12%).


Next Steps

Past Performance

How has TiVo performed over the past 5 years?

-70.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TIVO is currently unprofitable.

Growing Profit Margin: TIVO is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: TIVO is unprofitable, and losses have increased over the past 5 years at a rate of -70.7% per year.

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

Earnings vs Industry: TIVO is unprofitable, making it difficult to compare its past year earnings growth to the Software industry (18.4%).


Return on Equity

High ROE: TIVO has a negative Return on Equity (-37.75%), as it is currently unprofitable.


Next Steps

Financial Health

How is TiVo's financial position?


Financial Position Analysis

Short Term Liabilities: TIVO's short term assets ($613.2M) exceed its short term liabilities ($520.3M).

Long Term Liabilities: TIVO's short term assets ($613.2M) do not cover its long term liabilities ($788.6M).


Debt to Equity History and Analysis

Debt Level: TIVO's debt to equity ratio (92.4%) is considered high.

Reducing Debt: TIVO's debt to equity ratio has reduced from 101.1% to 92.4% over the past 5 years.


Balance Sheet

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

Debt Coverage by Assets: TIVO's debt is not covered by short term assets (assets are 0.6x 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: Whilst unprofitable TIVO has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: TIVO is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -8.8% per year.


Next Steps

Dividend

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


Dividend Yield vs Market

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

High Dividend: Unable to evaluate TIVO'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 TIVO's dividends per share have been stable in the past.

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


Current Payout to Shareholders

Dividend Coverage: TIVO is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TIVO'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

Dave Shull (46yo)

0.92

Tenure

US$5,451,727

Compensation

Mr. David Shull, also known as Dave, has been President, Chief Executive Officer and Director of TiVo Corporation since May 31, 2019. Mr. Shull has deep experience in the Pay-TV, OTT and digital media fiel ...


CEO Compensation Analysis

Compensation vs Market: Dave's total compensation ($USD5.45M) is above average for companies of similar size in the US market ($USD3.31M).

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


Leadership Team

NamePositionTenureCompensationOwnership
David Shull
President0.92yrUS$5.45m0.0019% $15.1k
Wesley Gutierrez
Chief Financial Officer0.33yrUS$819.02k0.038% $301.4k
Matthew Milne
Senior VP & Chief Revenue Officer3.25yrsUS$2.49m0.058% $461.2k
Michael Hawkey
Senior VP & GM of User Experience4.67yrsUS$2.26m0.035% $275.0k
Arvin Patel
Executive VP & Chief Intellectual Property Officer2.67yrsUS$2.40m0.024% $191.2k
Debi Palmer
Investor Relations Professional6.25yrsno datano data
Pamela Sergeeff
Executive VP6.33yrsUS$1.59m0.090% $717.1k
John Goodwin
Vice President of Corporate Communications0.50yrno datano data
Sean Matthews
Executive VP of Strategy & Corporate Development and Chief Transformation officer5.58yrsno datano data
Connie Puglia
Senior VP & Chief Human Resources Officer2.25yrsno datano data

3.0yrs

Average Tenure

46.5yo

Average Age

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


Board Members

NamePositionTenureCompensationOwnership
David Shull
President0.92yrUS$5.45m0.0019% $15.1k
Eddy Hartenstein
Independent Director4.58yrsUS$215.00k0.077% $612.9k
James Meyer
Independent Chairman of the Board4.75yrsUS$256.01k0.096% $761.9k
Daniel Moloney
Independent Director3.58yrsUS$205.01k0.040% $315.8k
Alan Earhart
Independent Director11.92yrsUS$222.44k0.068% $536.3k
Laura Durr
Director1yrUS$175.92k0.017% $135.3k
Raghavendra Rau
Vice Chairperson of the Board0.92yrUS$3.01m0.22% $1.8m
Glenn Welling
Independent Director4.92yrsUS$219.49k0.080% $632.2k
Loria Yeadon
Director1yrUS$173.83k0.017% $135.3k

3.6yrs

Average Tenure

61.5yo

Average Age

Experienced Board: TIVO's board of directors are considered experienced (3.6 years average tenure).


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 diluted in the past year, with total shares outstanding growing by 2%.


Top Shareholders

Company Information

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


Key Information

  • Name: TiVo Corporation
  • Ticker: TIVO
  • Exchange: NasdaqGS
  • Founded:
  • Industry: Systems Software
  • Sector: Software
  • Market Cap: US$794.325m
  • Shares outstanding: 127.50m
  • Website: https://business.tivo.com

Number of Employees


Location

  • TiVo Corporation
  • 2160 Gold Street
  • San Jose
  • California
  • 95002
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TIVONasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDMar 1997
3T3DB (Deutsche Boerse AG)YesCommon StockDEEURMar 1997

Biography

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 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; 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; 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, 2019, this segment provided platform solutions to 25 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 is based in San Jose, California. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/04 04:25
End of Day Share Price2020/04/03 00:00
Earnings2019/12/31
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.