HAEMONETICS CORP/MASS (HAE) Stock Fundamental Analysis
NYSE:HAE - New York Stock Exchange, Inc. - US4050241003 - Common Stock - Currency: USD
HAE gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 187 industry peers in the Health Care Equipment & Supplies industry. While HAE has a great profitability rating, there are quite some concerns on its financial health. HAE scores decently on growth, while it is valued quite cheap. This could make an interesting combination.
1. Profitability
1.1 Basic Checks
HAE had positive earnings in the past year.
HAE had a positive operating cash flow in the past year.
HAE had positive earnings in each of the past 5 years.
In the past 5 years HAE always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of HAE (6.84%) is better than 88.24% of its industry peers.
HAE has a better Return On Equity (20.43%) than 93.05% of its industry peers.
The Return On Invested Capital of HAE (9.84%) is better than 90.91% of its industry peers.
The Average Return On Invested Capital over the past 3 years for HAE is in line with the industry average of 8.08%.
The 3 year average ROIC (8.96%) for HAE is below the current ROIC(9.84%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.84% | ||
| ROE | 20.43% | ||
| ROIC | 9.84% |
ROA(3y)6.05%
ROA(5y)4.97%
ROE(3y)15.59%
ROE(5y)12.69%
ROIC(3y)8.96%
ROIC(5y)7.22%
1.3 Margins
Looking at the Profit Margin, with a value of 12.32%, HAE belongs to the top of the industry, outperforming 88.77% of the companies in the same industry.
In the last couple of years the Profit Margin of HAE has grown nicely.
HAE has a better Operating Margin (17.31%) than 88.24% of its industry peers.
HAE's Operating Margin has been stable in the last couple of years.
HAE's Gross Margin of 55.87% is in line compared to the rest of the industry. HAE outperforms 51.87% of its industry peers.
In the last couple of years the Gross Margin of HAE has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 17.31% | ||
| PM (TTM) | 12.32% | ||
| GM | 55.87% |
OM growth 3Y21.18%
OM growth 5Y0.48%
PM growth 3Y41.28%
PM growth 5Y9.75%
GM growth 3Y1.97%
GM growth 5Y2.6%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so HAE is still creating some value.
Compared to 1 year ago, HAE has less shares outstanding
The number of shares outstanding for HAE has been reduced compared to 5 years ago.
HAE has a worse debt/assets ratio than last year.
2.2 Solvency
HAE has an Altman-Z score of 2.20. This is not the best score and indicates that HAE is in the grey zone with still only limited risk for bankruptcy at the moment.
HAE has a better Altman-Z score (2.20) than 63.10% of its industry peers.
HAE has a debt to FCF ratio of 10.09. This is a negative value and a sign of low solvency as HAE would need 10.09 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 10.09, HAE is in the better half of the industry, outperforming 74.33% of the companies in the same industry.
HAE has a Debt/Equity ratio of 1.12. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 1.12, HAE is not doing good in the industry: 80.21% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.12 | ||
| Debt/FCF | 10.09 | ||
| Altman-Z | 2.2 |
ROIC/WACC1.45
WACC6.8%
2.3 Liquidity
A Current Ratio of 1.62 indicates that HAE should not have too much problems paying its short term obligations.
HAE has a worse Current ratio (1.62) than 73.80% of its industry peers.
A Quick Ratio of 0.99 indicates that HAE may have some problems paying its short term obligations.
With a Quick ratio value of 0.99, HAE is not doing good in the industry: 77.54% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.62 | ||
| Quick Ratio | 0.99 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 17.72% over the past year.
Measured over the past 5 years, HAE shows a small growth in Earnings Per Share. The EPS has been growing by 6.66% on average per year.
The Revenue has been growing slightly by 3.95% in the past year.
The Revenue has been growing slightly by 6.60% on average over the past years.
EPS 1Y (TTM)17.72%
EPS 3Y20.84%
EPS 5Y6.66%
EPS Q2Q%7.84%
Revenue 1Y (TTM)3.95%
Revenue growth 3Y11.07%
Revenue growth 5Y6.6%
Sales Q2Q%-4.4%
3.2 Future
HAE is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 10.15% yearly.
The Revenue is expected to grow by 2.76% on average over the next years.
EPS Next Y7.54%
EPS Next 2Y11.49%
EPS Next 3Y10.15%
EPS Next 5YN/A
Revenue Next Year-3.64%
Revenue Next 2Y1.66%
Revenue Next 3Y2.76%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 11.56, the valuation of HAE can be described as reasonable.
91.44% of the companies in the same industry are more expensive than HAE, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 26.84, HAE is valued rather cheaply.
A Price/Forward Earnings ratio of 9.46 indicates a reasonable valuation of HAE.
HAE's Price/Forward Earnings ratio is rather cheap when compared to the industry. HAE is cheaper than 92.51% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 35.29, HAE is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.56 | ||
| Fwd PE | 9.46 |
4.2 Price Multiples
HAE's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. HAE is cheaper than 90.91% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of HAE indicates a rather cheap valuation: HAE is cheaper than 86.63% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 21.28 | ||
| EV/EBITDA | 9.97 |
4.3 Compensation for Growth
HAE's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The excellent profitability rating of HAE may justify a higher PE ratio.
PEG (NY)1.53
PEG (5Y)1.73
EPS Next 2Y11.49%
EPS Next 3Y10.15%
5. Dividend
5.1 Amount
No dividends for HAE!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
53.74
+1.41 (+2.69%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)
Earnings (Next)
Inst Owners118.25%
Inst Owner Change-2.81%
Ins Owners1.14%
Ins Owner Change8.95%
Market Cap2.58B
Analysts84
Price Target95.06 (76.89%)
Short Float %7.37%
Short Ratio6.57
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)0.66%
Min EPS beat(2)0.62%
Max EPS beat(2)0.69%
EPS beat(4)4
Avg EPS beat(4)1.28%
Min EPS beat(4)0.44%
Max EPS beat(4)3.35%
EPS beat(8)7
Avg EPS beat(8)8.39%
EPS beat(12)11
Avg EPS beat(12)9.55%
EPS beat(16)14
Avg EPS beat(16)8.94%
Revenue beat(2)0
Avg Revenue beat(2)-1.42%
Min Revenue beat(2)-2.22%
Max Revenue beat(2)-0.63%
Revenue beat(4)0
Avg Revenue beat(4)-0.94%
Min Revenue beat(4)-2.22%
Max Revenue beat(4)-0.16%
Revenue beat(8)4
Avg Revenue beat(8)1.17%
Revenue beat(12)8
Avg Revenue beat(12)2.29%
Revenue beat(16)10
Avg Revenue beat(16)1.73%
PT rev (1m)1.55%
PT rev (3m)-0.32%
EPS NQ rev (1m)-0.27%
EPS NQ rev (3m)-3.48%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.6%
Revenue NQ rev (1m)-0.24%
Revenue NQ rev (3m)-1.53%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.68%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.56 | ||
| Fwd PE | 9.46 | ||
| P/S | 1.9 | ||
| P/FCF | 21.28 | ||
| P/OCF | 14.21 | ||
| P/B | 3.15 | ||
| P/tB | N/A | ||
| EV/EBITDA | 9.97 |
EPS(TTM)4.65
EY8.65%
EPS(NY)5.68
Fwd EY10.57%
FCF(TTM)2.53
FCFY4.7%
OCF(TTM)3.78
OCFY7.04%
SpS28.33
BVpS17.09
TBVpS-4.98
PEG (NY)1.53
PEG (5Y)1.73
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.84% | ||
| ROE | 20.43% | ||
| ROCE | 12.58% | ||
| ROIC | 9.84% | ||
| ROICexc | 11.77% | ||
| ROICexgc | 36.43% | ||
| OM | 17.31% | ||
| PM (TTM) | 12.32% | ||
| GM | 55.87% | ||
| FCFM | 8.92% |
ROA(3y)6.05%
ROA(5y)4.97%
ROE(3y)15.59%
ROE(5y)12.69%
ROIC(3y)8.96%
ROIC(5y)7.22%
ROICexc(3y)10.46%
ROICexc(5y)8.47%
ROICexgc(3y)26.78%
ROICexgc(5y)22.33%
ROCE(3y)11.45%
ROCE(5y)9.23%
ROICexcg growth 3Y22.36%
ROICexcg growth 5Y7.33%
ROICexc growth 3Y21.7%
ROICexc growth 5Y-5.09%
OM growth 3Y21.18%
OM growth 5Y0.48%
PM growth 3Y41.28%
PM growth 5Y9.75%
GM growth 3Y1.97%
GM growth 5Y2.6%
F-Score6
Asset Turnover0.56
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.12 | ||
| Debt/FCF | 10.09 | ||
| Debt/EBITDA | 2.62 | ||
| Cap/Depr | 52.25% | ||
| Cap/Sales | 4.44% | ||
| Interest Coverage | 14.25 | ||
| Cash Conversion | 51.74% | ||
| Profit Quality | 72.36% | ||
| Current Ratio | 1.62 | ||
| Quick Ratio | 0.99 | ||
| Altman-Z | 2.2 |
F-Score6
WACC6.8%
ROIC/WACC1.45
Cap/Depr(3y)79.52%
Cap/Depr(5y)76.24%
Cap/Sales(3y)6.31%
Cap/Sales(5y)6.58%
Profit Quality(3y)103.91%
Profit Quality(5y)115.34%
High Growth Momentum
Growth
EPS 1Y (TTM)17.72%
EPS 3Y20.84%
EPS 5Y6.66%
EPS Q2Q%7.84%
EPS Next Y7.54%
EPS Next 2Y11.49%
EPS Next 3Y10.15%
EPS Next 5YN/A
Revenue 1Y (TTM)3.95%
Revenue growth 3Y11.07%
Revenue growth 5Y6.6%
Sales Q2Q%-4.4%
Revenue Next Year-3.64%
Revenue Next 2Y1.66%
Revenue Next 3Y2.76%
Revenue Next 5YN/A
EBIT growth 1Y15.63%
EBIT growth 3Y34.59%
EBIT growth 5Y7.12%
EBIT Next Year34.55%
EBIT Next 3Y14.38%
EBIT Next 5YN/A
FCF growth 1Y5.09%
FCF growth 3Y16.98%
FCF growth 5Y2.09%
OCF growth 1Y-0.01%
OCF growth 3Y1.79%
OCF growth 5Y2.81%