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Inrad Optics

OTCPK:INRD
Snowflake Description

Acceptable track record with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
INRD
OTCPK
$17M
Market Cap
  1. Home
  2. US
  3. Tech
Company description

Inrad Optics, Inc., together with its subsidiaries, develops, manufactures, and markets crystal-based optical components and devices, custom optical components, and precision optical and opto-mechanical assemblies in the United States. The last earnings update was 124 days ago. More info.


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  • Inrad Optics has significant price volatility in the past 3 months.
INRD Share Price and Events
7 Day Returns
8.7%
OTCPK:INRD
2.4%
US Electronic
2.4%
US Market
1 Year Returns
78.6%
OTCPK:INRD
-0.7%
US Electronic
1.9%
US Market
INRD Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Inrad Optics (INRD) 8.7% 66% 37.5% 78.6% 232.4% 346.4%
US Electronic 2.4% 1.2% 19.1% -0.7% 59.1% 59.5%
US Market 2.4% 1.7% 11.9% 1.9% 38.2% 42.4%
1 Year Return vs Industry and Market
  • INRD outperformed the Electronic industry which returned -0.7% over the past year.
  • INRD outperformed the Market in United States of America which returned 1.9% over the past year.
Price Volatility
INRD
Industry
5yr Volatility vs Market

Value

 Is Inrad Optics 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 Inrad Optics 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    Our intrinsic value calculation method has changed recently, learn more here.

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

OTCPK:INRD Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 9.5%
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 OTCPK:INRD
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.07
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.071 (1 + (1- 21%) (16.21%))
1.14
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.14
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.14 * 5.96%)
9.52%

Discounted Cash Flow Calculation for OTCPK:INRD using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Inrad Optics 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.

OTCPK:INRD DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.52%)
2019 0.31 Est @ -5.36% 0.29
2020 0.30 Est @ -2.93% 0.25
2021 0.30 Est @ -1.24% 0.23
2022 0.30 Est @ -0.05% 0.21
2023 0.30 Est @ 0.79% 0.19
2024 0.31 Est @ 1.37% 0.18
2025 0.31 Est @ 1.78% 0.17
2026 0.32 Est @ 2.06% 0.15
2027 0.33 Est @ 2.26% 0.14
2028 0.33 Est @ 2.4% 0.13
Present value of next 10 years cash flows $1.95
OTCPK:INRD DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $0.33 × (1 + 2.73%) ÷ (9.52% – 2.73%)
$5.06
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $5.06 ÷ (1 + 9.52%)10
$2.04
OTCPK:INRD Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1.95 + $2.04
$3.99
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $3.99 / 13.63
$0.29
OTCPK:INRD Discount to Share Price
Calculation Result
Value per share (USD) From above. $0.29
Current discount Discount to share price of $1.25
= -1 x ($1.25 - $0.29) / $0.29
-327.4%

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

  • The current share price of Inrad Optics 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 Inrad Optics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Inrad Optics's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:INRD PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in USD $0.03
OTCPK:INRD Share Price ** OTCPK (2019-03-18) in USD $1.25
United States of America Electronic Industry PE Ratio Median Figure of 92 Publicly-Listed Electronic Companies 19.59x
United States of America Market PE Ratio Median Figure of 3,055 Publicly-Listed Companies 17.61x

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

** Primary Listing of Inrad Optics.

OTCPK:INRD PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OTCPK:INRD Share Price ÷ EPS (both in USD)

= 1.25 ÷ 0.03

35.98x

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

  • Inrad Optics is overvalued based on earnings compared to the US Electronic industry average.
  • Inrad Optics is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Inrad Optics's expected growth come at a high price?
Raw Data
OTCPK:INRD PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 35.98x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Electronic Industry PEG Ratio Median Figure of 60 Publicly-Listed Electronic Companies 1.38x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.48x

*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 Inrad Optics, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Inrad Optics's assets?
Raw Data
OTCPK:INRD PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in USD $0.18
OTCPK:INRD Share Price * OTCPK (2019-03-18) in USD $1.25
United States of America Electronic Industry PB Ratio Median Figure of 151 Publicly-Listed Electronic Companies 2.11x
United States of America Market PB Ratio Median Figure of 5,152 Publicly-Listed Companies 1.87x
OTCPK:INRD PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OTCPK:INRD Share Price ÷ Book Value per Share (both in USD)

= 1.25 ÷ 0.18

7.05x

* Primary Listing of Inrad Optics.

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

  • Inrad Optics is overvalued based on assets compared to the US Electronic industry average.
X
Value checks
We assess Inrad Optics'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 Electronic 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 Electronic industry average (and greater than 0)? (1 check)
  5. Inrad Optics has a total score of 0/6, 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 Inrad Optics expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
17%
Expected Electronic industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Inrad Optics expected to grow at an attractive rate?
  • Unable to compare Inrad Optics's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Inrad Optics's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare Inrad Optics's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
OTCPK:INRD Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Electronic Industry Earnings Growth Rate Market Cap Weighted Average 17%
United States of America Electronic Industry Revenue Growth Rate Market Cap Weighted Average 5.6%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
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
Raw Data
OTCPK:INRD Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:INRD Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-09-30 11 0 0
2018-06-30 11 0 0
2018-03-31 11 0 0
2017-12-31 10 0 -1
2017-09-30 10 0 -1
2017-06-30 10 0 -1
2017-03-31 10 1 0
2016-12-31 10 1 -1
2016-09-30 10 1 -1
2016-06-30 10 0 -1
2016-03-31 10 0 -1
2015-12-31 10 0 0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Inrad Optics is high growth as no earnings estimate data is available.
  • Unable to determine if Inrad Optics is high growth as no revenue estimate data is available.
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
OTCPK:INRD Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Inrad Optics Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:INRD Past Financials Data
Date (Data in USD Millions) EPS *
2018-09-30 0.03
2018-06-30 0.01
2018-03-31 -0.01
2017-12-31 -0.05
2017-09-30 -0.05
2017-06-30 -0.05
2017-03-31 -0.04
2016-12-31 -0.05
2016-09-30 -0.08
2016-06-30 -0.06
2016-03-31 -0.07
2015-12-31 -0.04

*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 Inrad Optics will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Take a look at our analysis of INRD’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  2. Inrad Optics's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Tech companies here
  3. While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on the OTC Markets Website. If you are looking for more of a qualitative research into the company, you can access Inrad Optics's filings and announcements here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Inrad Optics'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.
Inrad Optics 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 Inrad Optics 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 Inrad Optics's growth in the last year to its industry (Electronic).
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.
  • Inrad Optics has delivered over 20% year on year earnings growth in the past 5 years.
  • Inrad Optics has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Inrad Optics has become profitable in the last year making it difficult to compare the US Electronic industry average.
Earnings and Revenue History
Inrad Optics'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 Inrad Optics Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:INRD Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 11.37 0.47 2.24
2018-06-30 11.11 0.12 2.30
2018-03-31 11.00 -0.13 2.42
2017-12-31 9.86 -0.68 2.42
2017-09-30 9.64 -0.63 2.43
2017-06-30 9.55 -0.63 2.36
2017-03-31 9.58 -0.49 2.36
2016-12-31 9.77 -0.61 2.45
2016-09-30 9.83 -0.97 2.48
2016-06-30 10.19 -0.79 2.49
2016-03-31 10.31 -0.90 2.55
2015-12-31 10.49 -0.48 2.54
2015-09-30 10.78 -0.57 2.61
2015-06-30 10.89 -0.80 2.77
2015-03-31 10.35 -1.62 2.91
2014-12-31 9.73 -2.51 3.04
2014-09-30 9.75 -2.59 3.09
2014-06-30 9.60 -2.74 3.09
2014-03-31 10.06 -2.36 3.11
2013-12-31 11.24 -1.65 3.17
2013-09-30 11.31 -1.72 3.20
2013-06-30 11.45 -1.76 3.31
2013-03-31 11.64 -1.44 3.31
2012-12-31 11.40 -1.42 3.34
2012-09-30 12.01 -0.62 3.37
2012-06-30 12.44 -0.26 3.32
2012-03-31 12.78 -0.02 3.30

*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.
  • Inrad Optics has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Inrad Optics used its assets more efficiently than the US Electronic industry average last year based on Return on Assets.
  • Inrad Optics has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Inrad Optics'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 Electronic 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.
Inrad Optics has a total score of 3/6, 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 Inrad Optics'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 Inrad Optics's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Inrad Optics is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Inrad Optics's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Inrad Optics'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.
  • Debt is covered by short term assets, assets are 2x 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 Inrad Optics Company Filings, last reported 5 months ago.

OTCPK:INRD Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 2.42 2.76 0.89
2018-06-30 2.08 2.76 0.70
2018-03-31 1.96 2.77 0.49
2017-12-31 1.69 2.77 0.80
2017-09-30 1.78 2.77 0.57
2017-06-30 1.81 2.79 0.62
2017-03-31 1.91 2.83 0.77
2016-12-31 2.18 2.88 0.97
2016-09-30 2.24 2.92 1.32
2016-06-30 2.27 2.96 0.87
2016-03-31 2.23 3.01 0.51
2015-12-31 2.62 3.05 0.67
2015-09-30 3.04 3.09 1.07
2015-06-30 2.90 3.13 0.77
2015-03-31 3.02 3.17 1.00
2014-12-31 3.00 3.21 1.00
2014-09-30 3.51 3.25 0.88
2014-06-30 3.59 3.29 0.96
2014-03-31 4.52 3.33 2.00
2013-12-31 5.36 3.37 2.45
2013-09-30 5.93 3.41 2.65
2013-06-30 6.14 3.45 2.47
2013-03-31 6.67 3.48 2.60
2012-12-31 6.79 3.52 3.09
2012-09-30 7.41 3.56 3.25
2012-06-30 7.64 2.83 3.12
2012-03-31 7.92 2.83 3.87
  • Inrad Optics's level of debt (114.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (57.5% vs 114.3% today).
  • Debt is not well covered by operating cash flow (16.9%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.1x coverage).
X
Financial health checks
We assess Inrad Optics'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. Inrad Optics 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 Inrad Optics'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 Inrad Optics dividends.
If you bought $2,000 of Inrad Optics 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 Inrad Optics's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Inrad Optics'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
OTCPK:INRD 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 0 Analyst Estimates (S&P Global) See Below
United States of America Electronic Industry Average Dividend Yield Market Cap Weighted Average of 38 Stocks 1.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2004 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.

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

  • Unable to perform a dividend volatility check as Inrad Optics has not reported any payouts.
  • Unable to verify if Inrad Optics's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Inrad Optics's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Inrad Optics 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 Inrad Optics'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 Inrad Optics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Inrad Optics 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 Inrad Optics'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
Amy Eskilson
COMPENSATION $210,103
AGE 58
TENURE AS CEO 6.4 years
CEO Bio

Ms. Amy Eskilson has been the Chief Executive Officer and President of Inrad Optics, Inc. since October 1, 2012. Ms. Eskilson served as a Vice President of Sales and Marketing at Photonic Products Group Inc., since joining in February 7, 2011 until October 1, 2012. She has a wealth of experience in the photonics sector. she was with Thorlabs, Inc. and served as a Director of Business Development for the photonic components catalog. She worked closely with senior management of photonics companies worldwide, premier university research groups and government entities. She is a well known as a highly committed customer advocate. She fostered the development of multiple partner companies and executed both technology transfers and IP license agreements. She served as the Thorlabs inside sales and technical support manager and served in various marketing roles beginning in 1992. During her tenure at Thorlabs, she was also involved in photonic startups Nova Phase, Inc., Menlo Systems, Inc. and Idesta Quantum Electronics. She has been a Director of Inrad Optics, Inc., since October 1, 2012. Ms. Eskilson received her BA in Communications in 1985 from Montclair State University.

CEO Compensation
  • Amy's compensation has increased in line with Inrad Optics recently becoming profitable.
  • Amy's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Inrad Optics management team in years:

6.2
Average Tenure
60
Average Age
  • The average tenure for the Inrad Optics management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Amy Eskilson

TITLE
CEO, President & Director
COMPENSATION
$210K
AGE
58
TENURE
6.4 yrs

Bill Foote

TITLE
Executive VP
COMPENSATION
$167K
AGE
67

George Murray

TITLE
Vice President of Sales & Marketing
COMPENSATION
$154K
AGE
53
TENURE
6.2 yrs

Elias Kabous

TITLE
Interim CFO
AGE
62
TENURE
0.4 yrs
Board of Directors Tenure

Average tenure and age of the Inrad Optics board of directors in years:

9.7
Average Tenure
74.5
Average Age
  • The tenure for the Inrad Optics board of directors is about average.
Board of Directors

Jan Winston

TITLE
Chairman
COMPENSATION
$25K
AGE
81
TENURE
9.8 yrs

Amy Eskilson

TITLE
CEO, President & Director
COMPENSATION
$210K
AGE
58
TENURE
6.4 yrs

Bill Foote

TITLE
Executive VP
COMPENSATION
$167K
AGE
67
TENURE
1.4 yrs

Luke LaValle

TITLE
Independent Director
COMPENSATION
$20K
AGE
76
TENURE
13.5 yrs

N. E. Strandlund

TITLE
Director
COMPENSATION
$20K
AGE
74
TENURE
10.2 yrs

Dennis Romano

TITLE
Independent Director
COMPENSATION
$20K
AGE
75
TENURE
9.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
01. Jun 18 Sell Thomas Caughey Individual 30. May 18 30. May 18 -8,333 $0.98 $-7,476
X
Management checks
We assess Inrad Optics'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. Inrad Optics 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

Company Info

Description

Inrad Optics, Inc., together with its subsidiaries, develops, manufactures, and markets crystal-based optical components and devices, custom optical components, and precision optical and opto-mechanical assemblies in the United States. The company provides optical components, optical coatings, and subassemblies for the military, aerospace, industrial, and medical marketplace; precision metal optics; and UV filter optical components for use in critical applications in defense systems, such as missile warning sensors, as well as opto-mechanical design and assembly services. Its optical components include planar, prismatic, and spherical components fabricated from glass and synthetic crystals comprising mirrors, lenses, prisms, wave plates, polarizing optics, X-ray monochromators and mirrors, and cavity optics for lasers The company also offers laser system devices and instrumentation products comprising electro-optic and nonlinear crystal devices for altering the intensity, polarization, or wavelength of a laser beam, as well as other crystal components for use in laser research, in commercial laser systems, and in detection of fast neutrons; and pockels’ cells and associated electronics. It serves corporations in the defense, aerospace, laser system, process control, and metrology sectors of the photonics industry, as well as the United States Government, national laboratories, and universities. The company markets its products through sales, marketing, and customer service teams, as well as through independent sales agents. Inrad Optics, Inc. also exports its products Europe, Israel, and Asia. The company was formerly known as Photonic Products Group, Inc. and changed its name to Inrad Optics, Inc. in 2012. Inrad Optics, Inc. was founded in 1973 and is based in Northvale, New Jersey.

Details
Name: Inrad Optics, Inc.
INRD
Exchange: OTCPK
Founded: 1973
$17,034,860
13,627,888
Website: http://www.inradoptics.com
Address: Inrad Optics, Inc.
181 Legrand Avenue,
Northvale,
New Jersey, 07647,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OTCPK INRD Common Stock Pink Sheets LLC US USD 07. Jul 1983
Number of employees
Current staff
Staff numbers
62
Inrad Optics employees.
Industry
Electronic Components
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/18 23:37
End of day share price update: 2019/03/18 00:00
Last earnings filing: 2018/11/14
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


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.