Intevac
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 14 days ago. More info.
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IVAC Share Price and Events
7 Day Returns
1 Year Returns
IVAC Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Intevac (IVAC) | -2.7% | 0.9% | 10.5% | -14.4% | 24.7% | -31% |
| US Tech | -1.5% | 12.9% | -7.4% | 2.2% | 70.3% | 89.9% |
| US Market | 0.5% | 6.3% | 1.9% | 2% | 45.1% | 40.5% |
1 Year Return vs Industry and Market
- IVAC underperformed the Tech industry which returned 2.2% over the past year.
- IVAC underperformed the Market in United States of America which returned 2% over the past year.
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Intevac.
| 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 | 10.1% |
| 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.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 7.3% |
| Tech Unlevered Beta | Simply Wall St/ S&P Global | 1.02 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.015 (1 + (1- 21%) (0%)) |
1.015 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.02 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.015 * 7.27%) |
10.11% |
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 use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.
| 2019 | 2020 | 2021 | 2022 | 2023 | |
| Levered FCF (USD, Millions) | 12.00 | 29.00 | 31.83 | 34.95 | 38.36 |
| Source | Analyst x1 | Analyst x1 | Est @ 9.77% | Est @ 9.77% | Est @ 9.77% |
|
Present Value Discounted (@ 10.11%) |
10.90 | 23.92 | 23.84 | 23.77 | 23.70 |
| Present value of next 5 years cash flows | $106.13 |
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2023
× (1 + g) ÷ (Discount Rate – g)
= $38.36 × (1 + 2.73%) ÷ (10.11% – 2.73%) |
$533.86 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)5
= $533.86 ÷ (1 + 10.11%)5 |
$329.80 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 5 years cash flows +
Terminal Value
= $106.13 + $329.80 |
$435.93 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $435.93 / 22.81 |
$19.11 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $19.11 |
| Current discount | Discount to share price of
$5.35
= -1 x ($5.35 - $19.11) / $19.11 |
72% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- 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?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-29) in USD | $0.16 |
| NasdaqGS:IVAC Share Price ** | NasdaqGS (2019-02-13) in USD | $5.35 |
| United States of America Tech Industry PE Ratio | Median Figure of 15 Publicly-Listed Tech Companies | 16.58x |
| United States of America Market PE Ratio | Median Figure of 3,046 Publicly-Listed Companies | 16.95x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Intevac.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NasdaqGS:IVAC Share Price ÷ EPS (both in USD) = 5.35 ÷ 0.16 |
33.64x |
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?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 33.64x |
| 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 9 Publicly-Listed Tech Companies | 0.42x |
| United States of America Market PEG Ratio | Median Figure of 2,117 Publicly-Listed Companies | 1.36x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 33.64x ÷ 37.2% |
0.9x |
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?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-29) in USD | $3.93 |
| NasdaqGS:IVAC Share Price * | NasdaqGS (2019-02-13) in USD | $5.35 |
| United States of America Tech Industry PB Ratio | Median Figure of 38 Publicly-Listed Tech Companies | 1.88x |
| United States of America Market PB Ratio | Median Figure of 5,122 Publicly-Listed Companies | 1.81x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NasdaqGS:IVAC Share Price ÷ Book Value per Share (both in USD) = 5.35 ÷ 3.93 |
1.36x |
* 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.
Value checks
We assess Intevac's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Tech industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Tech industry average (and greater than 0)? (1 check) 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!
Earnings growth vs Low Risk Savings
- 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
| 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 | 8.8% |
| United States of America Tech Industry Revenue Growth Rate | Market Cap Weighted Average | 3.1% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.4% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.1% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 3 Analyst Estimates (S&P Global) | See Below |
| 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 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-29 | 95 | 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.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month 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 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| 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 |
| 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.
Future performance checks
We assess Intevac's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
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
Past Earnings growth analysis
- 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
All data from Intevac Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| 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 |
| 2012-03-31 | 82.87 | -18.11 | 25.53 | 34.49 |
*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.
Past performance checks
We assess Intevac's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Tech industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
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.
- 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
Assets
Liabilities and shares
- 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.
All data from Intevac Company Filings, last reported 1 month ago.
| 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 |
| 2012-03-31 | 190.76 | 0.00 | 78.93 |
- 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.
Financial health checks
We assess Intevac's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Intevac has a total score of 6/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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
If you bought
$2,000 of
Intevac
shares you are expected to receive
$0
in your first year as a dividend.
Dividend Amount
- 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.
| 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 | 1.9% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 1997 Stocks | 2.5% |
| 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.
| 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.
Income/ dividend checks
We assess Intevac's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) 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
CEO
| COMPENSATION | $2,044,741 |
| AGE | 56 |
| TENURE AS CEO | 5.6 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:
- 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
President
$2M
56
5.6 yrs
Jim Moniz
Executive VP of Finance & Administration
$886K
61
4.3 yrs
Drew Brugal
Executive VP & GM of Photonics
$761K
60
7.1 yrs
Jay Cho
Executive VP & GM of the Thin Film Equipment
$825K
53
5.1 yrs
Timothy Justyn
Senior Vice President of Global Operations
55
4 yrs
Claire McAdams
Investor Relations Counsel
Kimberly Burk
Vice President of Global Human Resources
$209K
52
11.1 yrs
Verle Aebi
Chief Technology Officer of Photonics
$202K
63
12.5 yrs
Terry Bluck
Chief Technology Officer of Thin-film Equipment
58
14.5 yrs
Mike Russak
Executive Advisor
$483K
71
5.1 yrs
Board of Directors Tenure
Average tenure and age of the Intevac board of directors in years:
- The average tenure for the Intevac board of directors is less than 3 years, this suggests a new board.
Board of Directors
David Dury
Chairman
$111K
69
1.5 yrs
Wendell Blonigan
President
$2M
56
5.5 yrs
John Schaefer
Director
$100K
75
8.6 yrs
Tom Rohrs
Director
$97K
67
8.3 yrs
Mark Popovich
Director
55
1 yrs
Kevin Barber
Director
58
1 yrs
Steve Jamison
Director
0.5 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by Intevac insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | ||
| 27. Mar 18 | Buy | First Eagle Investment Management, LLC | Company | 23. Mar 18 | 23. Mar 18 | 28,449 | $6.05 | $172,111 | ||
| 26. Feb 18 | Buy | First Eagle Investment Management, LLC | Company | 22. Feb 18 | 22. Feb 18 | 4,009 | $6.10 | $24,455 | ||
| 21. Feb 18 | Buy | First Eagle Investment Management, LLC | Company | 16. Feb 18 | 20. Feb 18 | 33,120 | $6.24 | $206,439 | ||
| 15. Feb 18 | Buy | First Eagle Investment Management, LLC | Company | 13. Feb 18 | 15. Feb 18 | 23,391 | $6.25 | $146,194 | ||
Management checks
We assess Intevac's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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
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 - – Full articleIs 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 - – Full articleIs 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 - – Full articleIntevac 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 - – Full articleAre 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 - – Full articleWhy 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 - – Full articleWhat 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 - – Full articleWhat You Must Know About Intevac Inc's (NASDAQ:IVAC) Market Risks
A widely-used metric to measure a stock's market risk is beta, and the broad market index represents a beta value of one. … IVAC's beta implies it may be a stock that investors with high-beta portfolios might find relevant if they wanted to reduce their exposure to market risk, especially during times of downturns. … An asset-heavy company tends to have a higher beta because the risk associated with running fixed assets during a downturn is highly expensive.
Simply Wall St - – Full articleHave Investors Priced In Intevac Inc's (NASDAQ:IVAC) Growth?
According to my valuation, the intrinsic value for the stock is $39.88, but it is currently trading at US$6.40 on the share market, meaning that there is still an opportunity to buy now. … This means that if you believe the current share price should move towards its intrinsic value over time, a low beta could suggest it is not likely to reach that level anytime soon, and once it’s there, it may be hard to fall back down into an attractive buying range again. … Its prosperous future outlook isn’t fully reflected in the current share price yet, which means it’s not too late to buy IVAC.
Simply Wall St - – Full articleShould You Sell Intevac Inc (NASDAQ:IVAC) At This PE Ratio?
Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for IVAC Price per share = $6.3 Earnings per share = $0.191 ∴ Price-Earnings Ratio = $6.3 ÷ $0.191 = 33x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … Ideally, we want to compare the stock’s P/E ratio to the average of companies that have similar characteristics as IVAC, such as size and country of operation. … For example, if you are inadvertently comparing riskier firms with IVAC, then IVAC’s P/E would naturally be higher than its peers since investors would reward its lower risk with a higher price.
Simply Wall St - – Full articleCompany Info
Map
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. It operates in two segments, Thin-Film Equipment and Photonics. The Thin-film Equipment segment designs, manufactures, markets, and services disk sputtering, etch and deposition, and disk lubrication systems; and offers upgrades, spares, and consumables, as well as provides process and applications support, customer training, installation, start-up assistance, and post-installation support services. It also provides INTEVAC MATRIX physical vapor deposition systems that are used in various ways in the manufacture of solar cells, including for fabricating electrical contacts and conductor, depositing reflective, and growing transparent conductive oxide layers; and INTEVAC MATRIX and ENERGi implant systems for solar photovoltaic markets. In addition, this segment offers display cover panel systems. The Photonics segment develops, manufactures, and sells digital-optical products for the capture and display of low-light images; and offers digital sensors, cameras, and systems for government applications. This segment also provides MicroVista product line of commercial compact and lightweight low-light complementary metal-oxide-semiconductor cameras, which offer high sensitivity in the ultraviolet, visible, or near infrared regions of the spectrum for use in industrial inspection, bio-medical, and scientific applications. It serves manufacturers of hard disk media, display cover panels, and solar cells, as well as the U.S. government and its agencies, allies, and contractors. 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 |
| $122,057,537 | |
| 22,814,493 | |
| 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
Industry
| Technology Hardware, Storage and Peripherals | |
| Tech |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/02/13 23:43 |
| End of day share price update: | 2019/02/13 00:00 |
| Last estimates confirmation: | 2019/01/31 |
| Last earnings filing: | 2019/01/30 |
| 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.
