HAEMONETICS CORP/MASS (HAE) Stock Fundamental Analysis
NYSE:HAE - New York Stock Exchange, Inc. - US4050241003 - Common Stock - Currency: USD
We assign a fundamental rating of 5 out of 10 to HAE. HAE was compared to 187 industry peers in the Health Care Equipment & Supplies industry. HAE scores excellent on profitability, but there are concerns on its financial health. HAE has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
In the past year HAE was profitable.
In the past year HAE had a positive cash flow from operations.
Each year in the past 5 years HAE has been profitable.
HAE had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
HAE has a Return On Assets of 6.84%. This is amongst the best in the industry. HAE outperforms 89.30% of its industry peers.
Looking at the Return On Equity, with a value of 20.43%, HAE belongs to the top of the industry, outperforming 93.05% of the companies in the same industry.
With an excellent Return On Invested Capital value of 9.84%, HAE belongs to the best of the industry, outperforming 91.98% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for HAE is in line with the industry average of 7.89%.
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
With an excellent Profit Margin value of 12.32%, HAE belongs to the best of the industry, outperforming 90.37% of the companies in the same industry.
HAE's Profit Margin has improved in the last couple of years.
HAE has a Operating Margin of 17.31%. This is amongst the best in the industry. HAE outperforms 88.24% of its industry peers.
In the last couple of years the Operating Margin of HAE has remained more or less at the same level.
Looking at the Gross Margin, with a value of 55.87%, HAE is in line with its industry, outperforming 52.94% of the companies in the same industry.
HAE's Gross Margin has improved in the last couple of years.
| 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.
HAE has less shares outstanding than it did 1 year ago.
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 2.61. 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.
The Altman-Z score of HAE (2.61) is better than 64.17% of its industry peers.
The Debt to FCF ratio of HAE is 10.09, which is on the high side as it means it would take HAE, 10.09 years of fcf income to pay off all of its debts.
With a decent Debt to FCF ratio value of 10.09, HAE is doing good in the industry, outperforming 75.40% of the companies in the same industry.
A Debt/Equity ratio of 1.12 is on the high side and indicates that HAE has dependencies on debt financing.
HAE has a worse Debt to Equity ratio (1.12) than 80.21% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.12 | ||
| Debt/FCF | 10.09 | ||
| Altman-Z | 2.61 |
ROIC/WACC1.34
WACC7.33%
2.3 Liquidity
A Current Ratio of 1.62 indicates that HAE should not have too much problems paying its short term obligations.
With a Current ratio value of 1.62, HAE is not doing good in the industry: 73.80% of the companies in the same industry are doing better.
A Quick Ratio of 0.99 indicates that HAE may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.99, HAE is doing worse than 77.54% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.62 | ||
| Quick Ratio | 0.99 |
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.
The Earnings Per Share has been growing slightly by 6.66% on average over the past years.
The Revenue has been growing slightly by 3.96% in the past year.
HAE shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.60% yearly.
EPS 1Y (TTM)14.82%
EPS 3Y20.84%
EPS 5Y6.66%
EPS Q2Q%37.78%
Revenue 1Y (TTM)3.96%
Revenue growth 3Y11.07%
Revenue growth 5Y6.6%
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 11.70% on average per year.
Based on estimates for the next years, HAE will show a small growth in Revenue. The Revenue will grow by 4.48% on average per year.
EPS Next Y7.64%
EPS Next 2Y11.63%
EPS Next 3Y11.7%
EPS Next 5YN/A
Revenue Next Year-3.57%
Revenue Next 2Y1.66%
Revenue Next 3Y4.48%
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 16.82, the valuation of HAE can be described as correct.
Based on the Price/Earnings ratio, HAE is valued cheaper than 82.89% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.45. HAE is valued slightly cheaper when compared to this.
The Price/Forward Earnings ratio is 15.63, which indicates a correct valuation of HAE.
84.49% of the companies in the same industry are more expensive than HAE, based on the Price/Forward Earnings ratio.
HAE's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 21.90.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.82 | ||
| Fwd PE | 15.63 |
4.2 Price Multiples
HAE's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. HAE is cheaper than 84.49% of the companies in the same industry.
82.35% of the companies in the same industry are more expensive than HAE, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 30.44 | ||
| EV/EBITDA | 13.13 |
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)2.2
PEG (5Y)2.52
EPS Next 2Y11.63%
EPS Next 3Y11.7%
5. Dividend
5.1 Amount
HAE does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
76.87
+0.63 (+0.83%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)
Earnings (Next)
Inst Owners118.39%
Inst Owner Change-6.32%
Ins Owners1.14%
Ins Owner Change7.49%
Market Cap3.69B
Analysts80
Price Target93.61 (21.78%)
Short Float %8.54%
Short Ratio7.4
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)-1.84%
PT rev (3m)-4.95%
EPS NQ rev (1m)-0.74%
EPS NQ rev (3m)-6.84%
EPS NY rev (1m)-0.51%
EPS NY rev (3m)-1.93%
Revenue NQ rev (1m)0.27%
Revenue NQ rev (3m)-4.35%
Revenue NY rev (1m)-0.6%
Revenue NY rev (3m)-2.29%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.82 | ||
| Fwd PE | 15.63 | ||
| P/S | 2.71 | ||
| P/FCF | 30.44 | ||
| P/OCF | 20.32 | ||
| P/B | 4.5 | ||
| P/tB | N/A | ||
| EV/EBITDA | 13.13 |
EPS(TTM)4.57
EY5.95%
EPS(NY)4.92
Fwd EY6.4%
FCF(TTM)2.53
FCFY3.29%
OCF(TTM)3.78
OCFY4.92%
SpS28.33
BVpS17.09
TBVpS-4.98
PEG (NY)2.2
PEG (5Y)2.52
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 | 2.61 |
F-Score6
WACC7.33%
ROIC/WACC1.34
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)14.82%
EPS 3Y20.84%
EPS 5Y6.66%
EPS Q2Q%37.78%
EPS Next Y7.64%
EPS Next 2Y11.63%
EPS Next 3Y11.7%
EPS Next 5YN/A
Revenue 1Y (TTM)3.96%
Revenue growth 3Y11.07%
Revenue growth 5Y6.6%
Sales Q2Q%-3.7%
Revenue Next Year-3.57%
Revenue Next 2Y1.66%
Revenue Next 3Y4.48%
Revenue Next 5YN/A
EBIT growth 1Y15.63%
EBIT growth 3Y34.59%
EBIT growth 5Y7.12%
EBIT Next Year34.87%
EBIT Next 3Y14.76%
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%