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Intevac

Nasdaq:IVAC
Snowflake Description

Flawless balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IVAC
Nasdaq
$113M
Market Cap
  1. Home
  2. US
  3. Tech
Company description

Intevac, Inc. provides vacuum deposition equipment for various thin-film applications, and digital night-vision technologies and products to the defense industry in the United States, Asia, Europe, and internationally. The last earnings update was 62 days ago. More info.


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  • Intevac has significant price volatility in the past 3 months.
IVAC Share Price and Events
7 Day Returns
-19%
NasdaqGS:IVAC
-0.2%
US Tech
0.4%
US Market
1 Year Returns
-22.1%
NasdaqGS:IVAC
10.4%
US Tech
6.8%
US Market
IVAC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Intevac (IVAC) -19% -19.2% -6.8% -22.1% 1.7% -44.3%
US Tech -0.2% 7% 29.6% 10.4% 76.8% 126.7%
US Market 0.4% 2.6% 11% 6.8% 38.1% 45.7%
1 Year Return vs Industry and Market
  • IVAC underperformed the Tech industry which returned 10.4% over the past year.
  • IVAC underperformed the Market in United States of America which returned 6.8% over the past year.
Price Volatility
IVAC
Industry
5yr Volatility vs Market

Value

 Is Intevac 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 Intevac 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 Intevac.

NasdaqGS:IVAC 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 8.9%
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:IVAC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Tech Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.043 (1 + (1- 21%) (0%))
1.029
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.03
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.029 * 5.96%)
8.86%

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

The calculations below outline how an intrinsic value for Intevac 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:IVAC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.86%)
2019 12.00 Analyst x1 11.02
2020 29.00 Analyst x1 24.47
2021 46.04 Est @ 58.75% 35.69
2022 65.35 Est @ 41.94% 46.53
2023 85.07 Est @ 30.18% 55.64
2024 103.73 Est @ 21.94% 62.33
2025 120.52 Est @ 16.18% 66.52
2026 135.15 Est @ 12.14% 68.53
2027 147.75 Est @ 9.32% 68.82
2028 158.60 Est @ 7.34% 67.86
Present value of next 10 years cash flows $507.41
NasdaqGS:IVAC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $158.60 × (1 + 2.73%) ÷ (8.86% – 2.73%)
$2,657.81
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,657.81 ÷ (1 + 8.86%)10
$1,137.18
NasdaqGS:IVAC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $507.41 + $1,137.18
$1,644.60
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,644.60 / 22.96
$71.63
NasdaqGS:IVAC Discount to Share Price
Calculation Result
Value per share (USD) From above. $71.63
Current discount Discount to share price of $4.91
= -1 x ($4.91 - $71.63) / $71.63
93.1%

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

Current Discount
Amount off the current price Intevac is available for.
Intrinsic value
>50%
Share price is $4.91 vs Future cash flow value of $71.63
Current Discount Checks
For Intevac to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Intevac's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Intevac's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Intevac's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Intevac's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:IVAC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-29) in USD $0.16
NasdaqGS:IVAC Share Price ** NasdaqGS (2019-04-16) in USD $4.91
United States of America Tech Industry PE Ratio Median Figure of 14 Publicly-Listed Tech Companies 18.74x
United States of America Market PE Ratio Median Figure of 3,072 Publicly-Listed Companies 18.08x

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

** Primary Listing of Intevac.

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

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

= 4.91 ÷ 0.16

30.88x

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

  • Intevac is overvalued based on earnings compared to the US Tech industry average.
  • Intevac is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Intevac's expected growth come at a high price?
Raw Data
NasdaqGS:IVAC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 30.88x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
37.2%per year
United States of America Tech Industry PEG Ratio Median Figure of 8 Publicly-Listed Tech Companies 1.13x
United States of America Market PEG Ratio Median Figure of 2,107 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

NasdaqGS:IVAC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 30.88x ÷ 37.2%

0.83x

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

  • Intevac is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Intevac's assets?
Raw Data
NasdaqGS:IVAC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-29) in USD $3.95
NasdaqGS:IVAC Share Price * NasdaqGS (2019-04-16) in USD $4.91
United States of America Tech Industry PB Ratio Median Figure of 36 Publicly-Listed Tech Companies 2.16x
United States of America Market PB Ratio Median Figure of 5,176 Publicly-Listed Companies 1.91x
NasdaqGS:IVAC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 4.91 ÷ 3.95

1.24x

* Primary Listing of Intevac.

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

  • Intevac is good value based on assets compared to the US Tech industry average.
X
Value checks
We assess Intevac'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 Tech 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 Tech industry average (and greater than 0)? (1 check)
  5. Intevac has a total score of 4/6, 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 Intevac 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
37.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Intevac expected to grow at an attractive rate?
  • Intevac's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Intevac's earnings growth is expected to exceed the United States of America market average.
  • Intevac's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:IVAC Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:IVAC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 37.2%
NasdaqGS:IVAC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 14%
United States of America Tech Industry Earnings Growth Rate Market Cap Weighted Average 5.7%
United States of America Tech Industry Revenue Growth Rate Market Cap Weighted Average 3.6%
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:IVAC 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:IVAC Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 126 34 8 2
2019-12-31 114 16 1 3
2018-12-31 98 3 -5 3
NasdaqGS:IVAC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-29 95 -2 4
2018-09-29 88 1 -6
2018-06-30 96 -3 -4
2018-03-31 100 -4 -3
2017-12-30 113 -2 4
2017-09-30 117 5 7
2017-07-01 113 4 5
2017-04-01 97 4 1
2016-12-31 80 4 -7
2016-10-01 68 -2 -13
2016-07-02 63 -4 -16
2016-04-02 69 0 -13
2016-01-02 75 1 -9

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Intevac's earnings are expected to grow significantly at over 20% yearly.
  • Intevac's revenue is expected to grow by 14% yearly, however this is not considered high growth (20% yearly).
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:IVAC 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 Intevac Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:IVAC Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.31 0.34 0.27 2.00
2019-12-31 0.05 0.08 0.03 3.00
2018-12-31 -0.23 -0.23 -0.23 3.00
NasdaqGS:IVAC Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-29 0.16
2018-09-29 -0.29
2018-06-30 -0.19
2018-03-31 -0.13
2017-12-30 0.19
2017-09-30 0.33
2017-07-01 0.25
2017-04-01 0.03
2016-12-31 -0.36
2016-10-01 -0.62
2016-07-02 -0.76
2016-04-02 -0.58
2016-01-02 -0.41

*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.
  • Unable to establish if Intevac will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Intevac'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.
Intevac has a total score of 4/6, 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 Intevac 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 Intevac's growth in the last year to its industry (Tech).
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.
  • Intevac has delivered over 20% year on year earnings growth in the past 5 years.
  • Intevac's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Intevac's 1-year earnings growth is negative, it can't be compared to the US Tech industry average.
Earnings and Revenue History
Intevac'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 Intevac Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:IVAC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-29 95.11 3.58 20.19 16.86
2018-09-29 88.31 -6.44 21.21 16.98
2018-06-30 95.57 -4.11 21.87 17.78
2018-03-31 100.43 -2.85 22.87 17.21
2017-12-30 112.85 4.12 23.31 17.72
2017-09-30 117.06 6.99 22.58 17.57
2017-07-01 112.89 5.28 21.95 17.10
2017-04-01 96.85 0.69 21.19 17.66
2016-12-31 80.12 -7.44 19.92 18.16
2016-10-01 67.54 -12.80 19.54 18.37
2016-07-02 63.40 -16.08 19.76 18.26
2016-04-02 68.94 -12.58 19.38 16.23
2016-01-02 75.16 -9.17 19.64 15.66
2015-10-03 77.82 -21.00 20.05 14.53
2015-07-04 74.16 -20.80 19.87 14.56
2015-04-04 68.42 -25.82 21.20 16.17
2015-01-03 65.55 -27.45 21.21 15.83
2014-09-27 67.04 -11.36 21.92 17.66
2014-06-28 71.40 -10.55 22.02 17.93
2014-03-29 73.67 -11.95 21.57 18.95
2013-12-31 69.63 -15.70 22.28 21.04
2013-09-28 66.56 -60.08 22.96 23.14
2013-06-29 64.28 -65.34 24.54 26.23
2013-03-30 79.09 -60.42 25.12 28.91
2012-12-31 83.42 -55.32 25.92 31.76
2012-09-29 84.59 -18.87 24.65 33.19
2012-06-30 87.07 -16.98 25.04 34.46

*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.
  • Intevac has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Intevac used its assets less efficiently than the US Tech industry average last year based on Return on Assets.
  • It is difficult to establish if Intevac 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 Intevac'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 Tech 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.
Intevac has a total score of 1/6, 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 Intevac'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 Intevac's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Intevac is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Intevac's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Intevac'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.
  • High level of physical assets or inventory.
  • Intevac has no debt, it does not need to be covered by short term assets.
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 Intevac Company Filings, last reported 3 months ago.

NasdaqGS:IVAC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-29 89.62 0.00 34.79
2018-09-29 79.34 0.00 38.93
2018-06-30 78.59 0.00 33.80
2018-03-31 78.52 0.00 35.40
2017-12-30 82.66 0.00 35.64
2017-09-30 81.42 0.00 37.23
2017-07-01 78.11 0.00 33.79
2017-04-01 76.59 0.00 40.80
2016-12-31 73.27 0.00 44.65
2016-10-01 69.86 0.00 36.65
2016-07-02 68.83 0.00 35.39
2016-04-02 71.77 0.00 36.54
2016-01-02 76.00 0.00 36.95
2015-10-03 85.31 0.00 47.06
2015-07-04 89.22 0.00 47.76
2015-04-04 94.90 0.00 50.33
2015-01-03 98.63 0.00 51.08
2014-09-27 112.91 0.00 54.49
2014-06-28 120.68 0.00 58.23
2014-03-29 125.50 0.00 67.37
2013-12-31 129.57 0.00 69.10
2013-09-28 128.88 0.00 65.06
2013-06-29 130.05 0.00 68.59
2013-03-30 136.04 0.00 67.47
2012-12-31 142.64 0.00 64.85
2012-09-29 184.26 0.00 68.43
2012-06-30 190.27 0.00 66.14
  • Intevac has no debt.
  • Intevac has not taken on any debt in the past 5 years.
  • Intevac has no debt, it does not need to be covered by operating cash flow.
  • Intevac has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Intevac'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. Intevac has a total score of 6/6, 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 Intevac'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
0%
Current annual income from Intevac dividends.
If you bought $2,000 of Intevac shares you are expected to receive $0 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?
  • Unable to evaluate Intevac's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Intevac's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:IVAC 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 Tech Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 1.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 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:IVAC Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2019-12-31
2018-12-31

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

  • Unable to perform a dividend volatility check as Intevac has not reported any payouts.
  • Unable to verify if Intevac's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Intevac's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Intevac has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Intevac'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 Intevac afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Intevac has a total score of 0/6, 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 Intevac'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
Wendell Blonigan
COMPENSATION $2,044,741
AGE 56
TENURE AS CEO 5.8 years
CEO Bio

Mr. Wendell T. Blonigan joined Intevac in July 2013 as President and CEO and has served as a director of Intevac since August 2013. Prior to joining Intevac, Mr. Blonigan co-founded Orbotech LT Solar in 2009 and served as the company’s CEO until 2013. From 2006 until 2009, he was the Chief Operating Officer at Photon Dynamics. In 1991, Mr. Blonigan joined Applied Materials’ AKT display subsidiary. During his tenure at AKT, he held various positions. In 2003, he was appointed President and served in this role until 2006; from 1999 through 2003 he was Vice President, and prior to that time he was Director of Engineering and New Product Development. Mr. Blonigan holds a BS in electronic engineering technology from DeVry University Missouri Institute of Technology.

CEO Compensation
  • Wendell's compensation has increased by more than 20% in the past year.
  • Wendell'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 Intevac management team in years:

6.5
Average Tenure
58
Average Age
  • The average tenure for the Intevac management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Wendell Blonigan

TITLE
President
COMPENSATION
$2M
AGE
56
TENURE
5.8 yrs

Jim Moniz

TITLE
Executive VP of Finance & Administration
COMPENSATION
$886K
AGE
61
TENURE
4.4 yrs

Drew Brugal

TITLE
Executive VP & GM of Photonics
COMPENSATION
$761K
AGE
60
TENURE
7.3 yrs

Jay Cho

TITLE
Executive VP & GM of the Thin Film Equipment
COMPENSATION
$825K
AGE
53
TENURE
5.3 yrs

Claire McAdams

TITLE
Investor Relations Counsel

Kimberly Burk

TITLE
Senior Vice President of Human Resources
COMPENSATION
$209K
AGE
52
TENURE
11.3 yrs

Verle Aebi

TITLE
Chief Technology Officer of Photonics
COMPENSATION
$202K
AGE
63
TENURE
12.7 yrs

Timothy Justyn

TITLE
Executive VP & General Manager of Photonics
AGE
55

Terry Bluck

TITLE
Chief Technology Officer of Thin-film Equipment
AGE
58
TENURE
14.7 yrs

Mike Russak

TITLE
Executive Advisor
COMPENSATION
$483K
AGE
71
TENURE
5.3 yrs
Board of Directors Tenure

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

1.7
Average Tenure
67
Average Age
  • The average tenure for the Intevac board of directors is less than 3 years, this suggests a new board.
Board of Directors

David Dury

TITLE
Chairman
COMPENSATION
$111K
AGE
69
TENURE
1.7 yrs

Wendell Blonigan

TITLE
President
COMPENSATION
$2M
AGE
56
TENURE
5.7 yrs

John Schaefer

TITLE
Director
COMPENSATION
$100K
AGE
75
TENURE
8.8 yrs

Tom Rohrs

TITLE
Director
COMPENSATION
$97K
AGE
67
TENURE
8.5 yrs

Mark Popovich

TITLE
Director
AGE
55
TENURE
1.2 yrs

Kevin Barber

TITLE
Director
AGE
58
TENURE
1.2 yrs

Steve Jamison

TITLE
Director
AGE
69
TENURE
0.7 yrs
Who owns this company?
Recent Insider Trading
  • Intevac insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
11. Mar 19 Sell Timothy Justyn Individual 08. Mar 19 08. Mar 19 -9,153 $6.46 $-59,128
04. Dec 18 Buy Wendell Blonigan Individual 03. Dec 18 03. Dec 18 10,000 $4.75 $47,500
08. May 18 Buy First Eagle Investment Management, LLC Company 04. May 18 04. May 18 9,000 $4.55 $40,941
03. May 18 Buy First Eagle Investment Management, LLC Company 01. May 18 03. May 18 156,300 $4.83 $737,703
30. Apr 18 Buy First Eagle Investment Management, LLC Company 26. Apr 18 26. Apr 18 100,000 $6.18 $617,500
25. Apr 18 Buy First Eagle Investment Management, LLC Company 23. Apr 18 23. Apr 18 222,000 $6.00 $1,331,939
X
Management checks
We assess Intevac'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. Intevac 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

What Kind Of Investor Owns Most Of Intevac, Inc. (NASDAQ:IVAC)?

Generally speaking, as a company grows, institutions will increase their ownership. … Conversely, insiders often decrease their ownership over time. … institutions are noticeable on the share registry.

Simply Wall St -

Should You Be Pleased About The CEO Pay At Intevac, Inc.'s (NASDAQ:IVAC)

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Wendell Blonigan's Compensation Compare With Similar Sized Companies. … has a market cap of US$141m, and is paying total annual CEO compensation of US$2.0m.

Simply Wall St -

Should You Be Tempted To Sell Intevac, Inc. (NASDAQ:IVAC) Because Of Its P/E Ratio?

We'll show how you can use Intevac, Inc.'s (NASDAQ:IVAC) P/E ratio to inform your assessment of the investment opportunity. … Intevac has a price to earnings ratio of 40.5, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

A Closer Look At Intevac, Inc.'s (NASDAQ:IVAC) Uninspiring ROE

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … That means that for every $1 worth of shareholders' equity, it generated $0.040 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is Intevac, Inc. (NASDAQ:IVAC) Potentially Underrated?

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Intevac, Inc. … (NASDAQ:IVAC) due to its excellent fundamentals in more than one area.

Simply Wall St -

Is Intevac Inc (NASDAQ:IVAC) Excessively Paying Its CEO?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Wendell Blonigan's Compensation Compare With Similar Sized Companies. … According to our data, Intevac Inc has a market capitalization of US$108m, and pays its CEO total annual compensation worth US$2.0m.

Simply Wall St -

Intevac Inc (NASDAQ:IVAC): What Does Its Beta Value Mean For Your Portfolio?

Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market. … In comparison a stock with a beta of over one tends to be move in a similar direction to the market in the long term, but with greater changes in price.

Simply Wall St -

Are Intevac Inc's (NASDAQ:IVAC) Interest Costs Too High?

However, it also faces higher cost of capital given interest cost is generally lower than equity. … Is IVAC growing fast enough to value financial flexibility over lower cost of capital. … There are well-known benefits of including debt in capital structure, primarily a lower cost of capital

Simply Wall St -

Why Did Intevac Inc's' (NASDAQ:IVAC) Insiders Buy Up More Shares?

some insider buying over the past three months, with insiders investing in. … A well-known argument is that insiders investing more in their own companies’ shares sends an optimistic signal … A two-decade research published in The MIT Press (1998) showed that stocks following insider buying outperformed the market by 4.5%

Simply Wall St -

What Does Intevac Inc's (NASDAQ:IVAC) Ownership Structure Look Like?

Insider Ownership Insiders form another group of important ownership types as they manage the company's operations and decide the best use of capital. … With 6.18% ownership, IVAC insiders is an important ownership type. … Next Steps: The company's high institutional ownership makes margin of safety a very important consideration to existing investors since long bull and bear trends often emerge when these big-ticket investors see a change in long-term potential of the company.

Simply Wall St -

Company Info

Description

Intevac, Inc. provides vacuum deposition equipment for various thin-film applications, and digital night-vision technologies and products to the defense industry in the United States, Asia, Europe, and internationally. The company operates through two segments, Thin-Film Equipment and Photonics. The Thin-Film Equipment segment designs and develops thin-film processing systems that are applied in hard disk drive media, display cover panel, and solar photovoltaic markets. The Photonics segment develops high-sensitivity digital sensors, cameras, and system that are applied in defense industry. It also provides digital night-vision imaging systems. The company sells its products through direct sales force and distributors. Intevac, Inc. was founded in 1990 and is headquartered in Santa Clara, California.

Details
Name: Intevac, Inc.
IVAC
Exchange: NasdaqGS
Founded: 1990
$112,734,243
22,960,131
Website: http://www.intevac.com
Address: Intevac, Inc.
3560 Bassett Street,
Santa Clara,
California, 95054,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS IVAC Common Stock Nasdaq Global Select US USD 21. Nov 1995
Number of employees
Current staff
Staff numbers
250
Intevac employees.
Industry
Technology Hardware, Storage and Peripherals
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/16 23:40
End of day share price update: 2019/04/16 00:00
Last estimates confirmation: 2019/01/31
Last earnings filing: 2019/02/13
Last earnings reported: 2018/12/29
Last annual earnings reported: 2018/12/29


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.