IMPINJ INC (PI) Stock Fundamental Analysis
NASDAQ:PI - Nasdaq - US4532041096 - Common Stock - Currency: USD
We assign a fundamental rating of 4 out of 10 to PI. PI was compared to 110 industry peers in the Semiconductors & Semiconductor Equipment industry. PI scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. PI is valued quite expensively, but it does show have an excellent growth rating.
1. Profitability
1.1 Basic Checks
In the past year PI was profitable.
In the past year PI had a positive cash flow from operations.
PI had negative earnings in 4 of the past 5 years.
In multiple years PI reported negative operating cash flow during the last 5 years.
1.2 Ratios
PI's Return On Assets of 6.75% is fine compared to the rest of the industry. PI outperforms 73.64% of its industry peers.
PI's Return On Equity of 20.17% is amongst the best of the industry. PI outperforms 85.45% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.75% | ||
| ROE | 20.17% | ||
| ROIC | N/A |
ROA(3y)-3.55%
ROA(5y)-10.38%
ROE(3y)-85.19%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
PI has a Profit Margin (7.35%) which is in line with its industry peers.
The Gross Margin of PI (51.22%) is better than 65.45% of its industry peers.
PI's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 7.35% | ||
| GM | 51.22% |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.28%
GM growth 5Y1.27%
2. Health
2.1 Basic Checks
PI does not have a ROIC to compare to the WACC, probably because it is not profitable.
PI has more shares outstanding than it did 1 year ago.
The number of shares outstanding for PI has been increased compared to 5 years ago.
The debt/assets ratio for PI has been reduced compared to a year ago.
2.2 Solvency
An Altman-Z score of 6.12 indicates that PI is not in any danger for bankruptcy at the moment.
The Altman-Z score of PI (6.12) is better than 65.45% of its industry peers.
The Debt to FCF ratio of PI is 6.42, which is on the high side as it means it would take PI, 6.42 years of fcf income to pay off all of its debts.
PI's Debt to FCF ratio of 6.42 is in line compared to the rest of the industry. PI outperforms 53.64% of its industry peers.
PI has a Debt/Equity ratio of 1.77. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 1.77, PI is not doing good in the industry: 92.73% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.77 | ||
| Debt/FCF | 6.42 | ||
| Altman-Z | 6.12 |
ROIC/WACCN/A
WACC9.73%
2.3 Liquidity
A Current Ratio of 10.96 indicates that PI has no problem at all paying its short term obligations.
PI's Current ratio of 10.96 is amongst the best of the industry. PI outperforms 97.27% of its industry peers.
PI has a Quick Ratio of 7.46. This indicates that PI is financially healthy and has no problem in meeting its short term obligations.
With an excellent Quick ratio value of 7.46, PI belongs to the best of the industry, outperforming 94.55% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 10.96 | ||
| Quick Ratio | 7.46 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 228.08% over the past year.
The Earnings Per Share has been growing by 126.36% on average over the past years. This is a very strong growth
Looking at the last year, PI shows a very strong growth in Revenue. The Revenue has grown by 47.54%.
Measured over the past years, PI shows a quite strong growth in Revenue. The Revenue has been growing by 19.09% on average per year.
EPS 1Y (TTM)228.08%
EPS 3Y105.41%
EPS 5Y126.36%
EPS Q2Q%0%
Revenue 1Y (TTM)47.54%
Revenue growth 3Y24.37%
Revenue growth 5Y19.09%
Sales Q2Q%-3.32%
3.2 Future
Based on estimates for the next years, PI will show a very strong growth in Earnings Per Share. The EPS will grow by 22.68% on average per year.
PI is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 16.29% yearly.
EPS Next Y-15.93%
EPS Next 2Y12.78%
EPS Next 3Y19.88%
EPS Next 5Y22.68%
Revenue Next Year-7.03%
Revenue Next 2Y8.06%
Revenue Next 3Y12.88%
Revenue Next 5Y16.29%
3.3 Evolution
Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 49.99, PI can be considered very expensive at the moment.
PI's Price/Earnings ratio is in line with the industry average.
The average S&P500 Price/Earnings ratio is at 26.32. PI is valued rather expensively when compared to this.
The Price/Forward Earnings ratio is 39.30, which means the current valuation is very expensive for PI.
The rest of the industry has a similar Price/Forward Earnings ratio as PI.
PI is valuated expensively when we compare the Price/Forward Earnings ratio to 22.19, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 49.99 | ||
| Fwd PE | 39.3 |
4.2 Price Multiples
The rest of the industry has a similar Price/Free Cash Flow ratio as PI.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 68.09 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
PI's earnings are expected to grow with 19.88% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)0.4
EPS Next 2Y12.78%
EPS Next 3Y19.88%
5. Dividend
5.1 Amount
No dividends for PI!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
103.98
-1.79 (-1.69%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners109.63%
Inst Owner Change-3.08%
Ins Owners3.53%
Ins Owner Change3.36%
Market Cap3.01B
Analysts83.75
Price Target129.92 (24.95%)
Short Float %13.19%
Short Ratio5.23
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)1
Avg EPS beat(2)72.39%
Min EPS beat(2)-2.35%
Max EPS beat(2)147.13%
EPS beat(4)3
Avg EPS beat(4)41.96%
Min EPS beat(4)-2.35%
Max EPS beat(4)147.13%
EPS beat(8)7
Avg EPS beat(8)80.89%
EPS beat(12)9
Avg EPS beat(12)125.41%
EPS beat(16)13
Avg EPS beat(16)206.37%
Revenue beat(2)1
Avg Revenue beat(2)-1.93%
Min Revenue beat(2)-4.41%
Max Revenue beat(2)0.54%
Revenue beat(4)2
Avg Revenue beat(4)-0.58%
Min Revenue beat(4)-4.41%
Max Revenue beat(4)2.04%
Revenue beat(8)4
Avg Revenue beat(8)-0.61%
Revenue beat(12)6
Avg Revenue beat(12)0.14%
Revenue beat(16)8
Avg Revenue beat(16)0.51%
PT rev (1m)2.52%
PT rev (3m)-11.2%
EPS NQ rev (1m)0%
EPS NQ rev (3m)20.31%
EPS NY rev (1m)0%
EPS NY rev (3m)18.82%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.23%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.74%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 49.99 | ||
| Fwd PE | 39.3 | ||
| P/S | 6.84 | ||
| P/FCF | 68.09 | ||
| P/OCF | 52.84 | ||
| P/B | 18.77 | ||
| P/tB | 23.01 | ||
| EV/EBITDA | N/A |
EPS(TTM)2.08
EY2%
EPS(NY)2.65
Fwd EY2.54%
FCF(TTM)1.53
FCFY1.47%
OCF(TTM)1.97
OCFY1.89%
SpS15.2
BVpS5.54
TBVpS4.52
PEG (NY)N/A
PEG (5Y)0.4
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.75% | ||
| ROE | 20.17% | ||
| ROCE | N/A | ||
| ROIC | N/A | ||
| ROICexc | N/A | ||
| ROICexgc | N/A | ||
| OM | N/A | ||
| PM (TTM) | 7.35% | ||
| GM | 51.22% | ||
| FCFM | 10.05% |
ROA(3y)-3.55%
ROA(5y)-10.38%
ROE(3y)-85.19%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.28%
GM growth 5Y1.27%
F-Score8
Asset Turnover0.92
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.77 | ||
| Debt/FCF | 6.42 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | 96.77% | ||
| Cap/Sales | 2.9% | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | 136.64% | ||
| Current Ratio | 10.96 | ||
| Quick Ratio | 7.46 | ||
| Altman-Z | 6.12 |
F-Score8
WACC9.73%
ROIC/WACCN/A
Cap/Depr(3y)154.75%
Cap/Depr(5y)177.06%
Cap/Sales(3y)5.16%
Cap/Sales(5y)5.25%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)228.08%
EPS 3Y105.41%
EPS 5Y126.36%
EPS Q2Q%0%
EPS Next Y-15.93%
EPS Next 2Y12.78%
EPS Next 3Y19.88%
EPS Next 5Y22.68%
Revenue 1Y (TTM)47.54%
Revenue growth 3Y24.37%
Revenue growth 5Y19.09%
Sales Q2Q%-3.32%
Revenue Next Year-7.03%
Revenue Next 2Y8.06%
Revenue Next 3Y12.88%
Revenue Next 5Y16.29%
EBIT growth 1Y69.72%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year-25.98%
EBIT Next 3Y35.9%
EBIT Next 5Y33.72%
FCF growth 1Y259.82%
FCF growth 3YN/A
FCF growth 5Y117.59%
OCF growth 1Y614.68%
OCF growth 3Y170.68%
OCF growth 5Y93.66%