HAEMONETICS CORP/MASS (HAE) Stock Fundamental Analysis
NYSE:HAE - New York Stock Exchange, Inc. - US4050241003 - Common Stock - Currency: USD
Taking everything into account, HAE scores 5 out of 10 in our fundamental rating. HAE was compared to 189 industry peers in the Health Care Equipment & Supplies industry. While HAE belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. HAE has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year HAE was profitable.
HAE had a positive operating cash flow in the past year.
HAE had positive earnings in 4 of the past 5 years.
HAE had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
HAE has a better Return On Assets (5.14%) than 84.66% of its industry peers.
With an excellent Return On Equity value of 14.34%, HAE belongs to the best of the industry, outperforming 91.01% of the companies in the same industry.
HAE's Return On Invested Capital of 7.64% is amongst the best of the industry. HAE outperforms 85.19% of its industry peers.
HAE had an Average Return On Invested Capital over the past 3 years of 7.51%. This is in line with the industry average of 7.87%.
The last Return On Invested Capital (7.64%) for HAE is above the 3 year average (7.51%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.14% | ||
| ROE | 14.34% | ||
| ROIC | 7.64% |
ROA(3y)4.55%
ROA(5y)4.81%
ROE(3y)10.72%
ROE(5y)11.21%
ROIC(3y)7.51%
ROIC(5y)8.04%
1.3 Margins
Looking at the Profit Margin, with a value of 9.47%, HAE belongs to the top of the industry, outperforming 83.60% of the companies in the same industry.
HAE's Profit Margin has improved in the last couple of years.
HAE has a better Operating Margin (15.93%) than 86.77% of its industry peers.
HAE's Operating Margin has improved in the last couple of years.
The Gross Margin of HAE (54.38%) is comparable to the rest of the industry.
In the last couple of years the Gross Margin of HAE has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 15.93% | ||
| PM (TTM) | 9.47% | ||
| GM | 54.38% |
OM growth 3Y24.43%
OM growth 5Y5.91%
PM growth 3Y-0.56%
PM growth 5Y9.58%
GM growth 3Y4.96%
GM growth 5Y3.61%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so HAE is destroying value.
There is no outstanding debt for HAE. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
2.2 Solvency
HAE has an Altman-Z score of 2.68. 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's Altman-Z score of 2.68 is fine compared to the rest of the industry. HAE outperforms 67.20% of its industry peers.
The Debt to FCF ratio of HAE is 14.71, which is on the high side as it means it would take HAE, 14.71 years of fcf income to pay off all of its debts.
HAE's Debt to FCF ratio of 14.71 is fine compared to the rest of the industry. HAE outperforms 72.49% of its industry peers.
A Debt/Equity ratio of 1.35 is on the high side and indicates that HAE has dependencies on debt financing.
HAE has a Debt to Equity ratio of 1.35. This is in the lower half of the industry: HAE underperforms 79.89% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.35 | ||
| Debt/FCF | 14.71 | ||
| Altman-Z | 2.68 |
ROIC/WACC0.98
WACC7.81%
2.3 Liquidity
A Current Ratio of 3.97 indicates that HAE has no problem at all paying its short term obligations.
HAE has a Current ratio of 3.97. This is in the better half of the industry: HAE outperforms 64.02% of its industry peers.
A Quick Ratio of 2.55 indicates that HAE has no problem at all paying its short term obligations.
HAE has a Quick ratio (2.55) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 3.97 | ||
| Quick Ratio | 2.55 |
3. Growth
3.1 Past
HAE shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 14.82%, which is quite good.
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.
EPS 1Y (TTM)14.82%
EPS 3Y20.84%
EPS 5Y6.66%
EPS Q2Q%37.78%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-3.7%
3.2 Future
Based on estimates for the next years, HAE will show a quite strong growth in Earnings Per Share. The EPS will grow by 11.80% on average per year.
Based on estimates for the next years, HAE will show a small growth in Revenue. The Revenue will grow by 4.73% on average per year.
EPS Next Y8.19%
EPS Next 2Y11.78%
EPS Next 3Y11.8%
EPS Next 5YN/A
Revenue Next Year-2.99%
Revenue Next 2Y1.77%
Revenue Next 3Y4.73%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 15.08, which indicates a correct valuation of HAE.
Based on the Price/Earnings ratio, HAE is valued cheaply inside the industry as 86.24% of the companies are valued more expensively.
Compared to an average S&P500 Price/Earnings ratio of 26.60, HAE is valued a bit cheaper.
Based on the Price/Forward Earnings ratio of 13.94, the valuation of HAE can be described as correct.
Based on the Price/Forward Earnings ratio, HAE is valued cheaply inside the industry as 85.71% of the companies are valued more expensively.
HAE's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.43.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.08 | ||
| Fwd PE | 13.94 |
4.2 Price Multiples
84.13% of the companies in the same industry are more expensive than HAE, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, HAE is valued a bit cheaper than 76.72% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 41.57 | ||
| EV/EBITDA | 13.08 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The excellent profitability rating of HAE may justify a higher PE ratio.
PEG (NY)1.84
PEG (5Y)2.26
EPS Next 2Y11.78%
EPS Next 3Y11.8%
5. Dividend
5.1 Amount
No dividends for HAE!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
68.91
-0.45 (-0.65%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)
Earnings (Next)
Inst Owners114.98%
Inst Owner Change-6.34%
Ins Owners0.91%
Ins Owner Change-0.05%
Market Cap3.46B
Analysts80
Price Target95.37 (38.4%)
Short Float %8.75%
Short Ratio5.83
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)2.02%
Min EPS beat(2)0.69%
Max EPS beat(2)3.35%
EPS beat(4)3
Avg EPS beat(4)1.12%
Min EPS beat(4)-0.02%
Max EPS beat(4)3.35%
EPS beat(8)7
Avg EPS beat(8)9.33%
EPS beat(12)11
Avg EPS beat(12)10.09%
EPS beat(16)13
Avg EPS beat(16)6.89%
Revenue beat(2)0
Avg Revenue beat(2)-1.19%
Min Revenue beat(2)-2.22%
Max Revenue beat(2)-0.16%
Revenue beat(4)1
Avg Revenue beat(4)0.03%
Min Revenue beat(4)-2.22%
Max Revenue beat(4)3.28%
Revenue beat(8)5
Avg Revenue beat(8)1.76%
Revenue beat(12)9
Avg Revenue beat(12)2.53%
Revenue beat(16)10
Avg Revenue beat(16)1.76%
PT rev (1m)-0.13%
PT rev (3m)-15.61%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.08%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.03%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.38%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.49%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.08 | ||
| Fwd PE | 13.94 | ||
| P/S | 2.52 | ||
| P/FCF | 41.57 | ||
| P/OCF | 26.79 | ||
| P/B | 3.82 | ||
| P/tB | N/A | ||
| EV/EBITDA | 13.08 |
EPS(TTM)4.57
EY6.63%
EPS(NY)4.94
Fwd EY7.18%
FCF(TTM)1.66
FCFY2.41%
OCF(TTM)2.57
OCFY3.73%
SpS27.34
BVpS18.05
TBVpS-3.26
PEG (NY)1.84
PEG (5Y)2.26
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.14% | ||
| ROE | 14.34% | ||
| ROCE | 9.6% | ||
| ROIC | 7.64% | ||
| ROICexc | 8.89% | ||
| ROICexgc | 19.63% | ||
| OM | 15.93% | ||
| PM (TTM) | 9.47% | ||
| GM | 54.38% | ||
| FCFM | 6.06% |
ROA(3y)4.55%
ROA(5y)4.81%
ROE(3y)10.72%
ROE(5y)11.21%
ROIC(3y)7.51%
ROIC(5y)8.04%
ROICexc(3y)8.78%
ROICexc(5y)9.36%
ROICexgc(3y)21.39%
ROICexgc(5y)20.4%
ROCE(3y)9.45%
ROCE(5y)10.11%
ROICexcg growth 3Y28.22%
ROICexcg growth 5Y5.14%
ROICexc growth 3Y32.37%
ROICexc growth 5Y-1.8%
OM growth 3Y24.43%
OM growth 5Y5.91%
PM growth 3Y-0.56%
PM growth 5Y9.58%
GM growth 3Y4.96%
GM growth 5Y3.61%
F-Score5
Asset Turnover0.54
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.35 | ||
| Debt/FCF | 14.71 | ||
| Debt/EBITDA | 3.65 | ||
| Cap/Depr | 39.97% | ||
| Cap/Sales | 3.35% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 38.72% | ||
| Profit Quality | 64.03% | ||
| Current Ratio | 3.97 | ||
| Quick Ratio | 2.55 | ||
| Altman-Z | 2.68 |
F-Score5
WACC7.81%
ROIC/WACC0.98
Cap/Depr(3y)95.03%
Cap/Depr(5y)74.64%
Cap/Sales(3y)8.07%
Cap/Sales(5y)6.68%
Profit Quality(3y)138.01%
Profit Quality(5y)129.47%
High Growth Momentum
Growth
EPS 1Y (TTM)14.82%
EPS 3Y20.84%
EPS 5Y6.66%
EPS Q2Q%37.78%
EPS Next Y8.19%
EPS Next 2Y11.78%
EPS Next 3Y11.8%
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-3.7%
Revenue Next Year-2.99%
Revenue Next 2Y1.77%
Revenue Next 3Y4.73%
Revenue Next 5YN/A
EBIT growth 1Y9.77%
EBIT growth 3Y42.56%
EBIT growth 5Y12.51%
EBIT Next Year52.72%
EBIT Next 3Y19.63%
EBIT Next 5YN/A
FCF growth 1Y-34.99%
FCF growth 3Y17.16%
FCF growth 5Y23.43%
OCF growth 1Y-50.57%
OCF growth 3Y18.65%
OCF growth 5Y2.67%