IMPINJ INC (PI) Stock Fundamental Analysis
NASDAQ:PI - US4532041096 - Common Stock
190 USD
-5.34 (-2.73%)
187 USD
-3 (-1.58%)
Taking everything into account, PI scores 4 out of 10 in our fundamental rating. PI was compared to 112 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
PI had positive earnings in the past year.
In the past year PI had a positive cash flow from operations.
In the past 5 years PI reported 4 times negative net income.
The reported operating cash flow has been mixed in the past 5 years: PI reported negative operating cash flow in multiple years.
1.2 Ratios
PI has a Return On Assets (-0.59%) which is comparable to the rest of the industry.
With a Return On Equity value of -1.61%, PI perfoms like the industry average, outperforming 45.54% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.59% | ||
| ROE | -1.61% | ||
| 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
With a decent Gross Margin value of 52.12%, PI is doing good in the industry, outperforming 67.86% of the companies in the same industry.
PI's Gross Margin has been stable in the last couple of years.
PI does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | N/A | ||
| GM | 52.12% |
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.
The number of shares outstanding for PI has been increased compared to 1 year ago.
PI has more shares outstanding than it did 5 years ago.
PI has a better debt/assets ratio than last year.
2.2 Solvency
PI has an Altman-Z score of 10.99. This indicates that PI is financially healthy and has little risk of bankruptcy at the moment.
With an excellent Altman-Z score value of 10.99, PI belongs to the best of the industry, outperforming 80.36% of the companies in the same industry.
PI has a debt to FCF ratio of 10.35. This is a negative value and a sign of low solvency as PI would need 10.35 years to pay back of all of its debts.
PI has a Debt to FCF ratio (10.35) which is in line with its industry peers.
PI has a Debt/Equity ratio of 1.51. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of PI (1.51) is worse than 91.07% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.51 | ||
| Debt/FCF | 10.35 | ||
| Altman-Z | 10.99 |
ROIC/WACCN/A
WACC11.18%
2.3 Liquidity
PI has a Current Ratio of 11.64. This indicates that PI is financially healthy and has no problem in meeting its short term obligations.
Looking at the Current ratio, with a value of 11.64, PI belongs to the top of the industry, outperforming 97.32% of the companies in the same industry.
A Quick Ratio of 8.44 indicates that PI has no problem at all paying its short term obligations.
PI has a Quick ratio of 8.44. This is amongst the best in the industry. PI outperforms 93.75% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 11.64 | ||
| Quick Ratio | 8.44 |
3. Growth
3.1 Past
PI shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 80.78%, which is quite impressive.
Measured over the past years, PI shows a very strong growth in Earnings Per Share. The EPS has been growing by 126.36% on average per year.
The Revenue has decreased by -8.39% in the past year.
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)80.78%
EPS 3Y105.41%
EPS 5Y126.36%
EPS Q2Q%-3.61%
Revenue 1Y (TTM)-8.39%
Revenue growth 3Y24.37%
Revenue growth 5Y19.09%
Sales Q2Q%-4.49%
3.2 Future
The Earnings Per Share is expected to grow by 28.17% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 18.35% on average over the next years. This is quite good.
EPS Next Y-5.21%
EPS Next 2Y12.12%
EPS Next 3Y22.37%
EPS Next 5Y28.17%
Revenue Next Year-3.38%
Revenue Next 2Y8.93%
Revenue Next 3Y11.21%
Revenue Next 5Y18.35%
3.3 Evolution
The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in 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
The Price/Earnings ratio is 92.68, which means the current valuation is very expensive for PI.
Compared to the rest of the industry, the Price/Earnings ratio of PI is on the same level as its industry peers.
When comparing the Price/Earnings ratio of PI to the average of the S&P500 Index (27.03), we can say PI is valued expensively.
The Price/Forward Earnings ratio is 72.67, which means the current valuation is very expensive for PI.
PI's Price/Forward Earnings is on the same level as the industry average.
The average S&P500 Price/Forward Earnings ratio is at 22.54. PI is valued rather expensively when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 92.68 | ||
| Fwd PE | 72.67 |
4.2 Price Multiples
PI's Enterprise Value to EBITDA is on the same level as the industry average.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of PI is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 201.27 | ||
| EV/EBITDA | 519.03 |
4.3 Compensation for Growth
PI's earnings are expected to grow with 22.37% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)0.73
EPS Next 2Y12.12%
EPS Next 3Y22.37%
5. Dividend
5.1 Amount
PI does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
190
-5.34 (-2.73%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners109.6%
Inst Owner Change37.99%
Ins Owners3.54%
Ins Owner Change0.48%
Market Cap5.53B
Analysts84
Price Target179.08 (-5.75%)
Short Float %13.73%
Short Ratio7.7
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)78.6%
Min EPS beat(2)10.06%
Max EPS beat(2)147.13%
EPS beat(4)3
Avg EPS beat(4)42.22%
Min EPS beat(4)-2.35%
Max EPS beat(4)147.13%
EPS beat(8)7
Avg EPS beat(8)81.61%
EPS beat(12)9
Avg EPS beat(12)62.29%
EPS beat(16)13
Avg EPS beat(16)185.11%
Revenue beat(2)2
Avg Revenue beat(2)0.93%
Min Revenue beat(2)0.54%
Max Revenue beat(2)1.31%
Revenue beat(4)2
Avg Revenue beat(4)-0.76%
Min Revenue beat(4)-4.41%
Max Revenue beat(4)1.31%
Revenue beat(8)5
Avg Revenue beat(8)-0.22%
Revenue beat(12)6
Avg Revenue beat(12)-0.2%
Revenue beat(16)8
Avg Revenue beat(16)0.12%
PT rev (1m)2.5%
PT rev (3m)41.31%
EPS NQ rev (1m)3%
EPS NQ rev (3m)42.55%
EPS NY rev (1m)12.76%
EPS NY rev (3m)12.76%
Revenue NQ rev (1m)0.08%
Revenue NQ rev (3m)4.58%
Revenue NY rev (1m)4.07%
Revenue NY rev (3m)3.93%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 92.68 | ||
| Fwd PE | 72.67 | ||
| P/S | 15.4 | ||
| P/FCF | 201.27 | ||
| P/OCF | 121.72 | ||
| P/B | 29.45 | ||
| P/tB | 35.36 | ||
| EV/EBITDA | 519.03 |
EPS(TTM)2.05
EY1.08%
EPS(NY)2.61
Fwd EY1.38%
FCF(TTM)0.94
FCFY0.5%
OCF(TTM)1.56
OCFY0.82%
SpS12.34
BVpS6.45
TBVpS5.37
PEG (NY)N/A
PEG (5Y)0.73
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.59% | ||
| ROE | -1.61% | ||
| ROCE | N/A | ||
| ROIC | N/A | ||
| ROICexc | N/A | ||
| ROICexgc | N/A | ||
| OM | N/A | ||
| PM (TTM) | N/A | ||
| GM | 52.12% | ||
| FCFM | 7.65% |
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-Score4
Asset Turnover0.71
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.51 | ||
| Debt/FCF | 10.35 | ||
| Debt/EBITDA | 26.25 | ||
| Cap/Depr | 129.02% | ||
| Cap/Sales | 5% | ||
| Interest Coverage | N/A | ||
| Cash Conversion | 419.16% | ||
| Profit Quality | N/A | ||
| Current Ratio | 11.64 | ||
| Quick Ratio | 8.44 | ||
| Altman-Z | 10.99 |
F-Score4
WACC11.18%
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)80.78%
EPS 3Y105.41%
EPS 5Y126.36%
EPS Q2Q%-3.61%
EPS Next Y-5.21%
EPS Next 2Y12.12%
EPS Next 3Y22.37%
EPS Next 5Y28.17%
Revenue 1Y (TTM)-8.39%
Revenue growth 3Y24.37%
Revenue growth 5Y19.09%
Sales Q2Q%-4.49%
Revenue Next Year-3.38%
Revenue Next 2Y8.93%
Revenue Next 3Y11.21%
Revenue Next 5Y18.35%
EBIT growth 1Y92.94%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year-0.68%
EBIT Next 3Y19.99%
EBIT Next 5Y33.72%
FCF growth 1Y143.85%
FCF growth 3YN/A
FCF growth 5Y117.59%
OCF growth 1Y211.24%
OCF growth 3Y170.68%
OCF growth 5Y93.66%