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SHOCKWAVE MEDICAL INC (SWAV) Stock Fundamental Analysis

USA - NASDAQ:SWAV - US82489T1043 - Common Stock

334.75 USD
-0.08 (-0.02%)
Last: 5/30/2024, 8:19:22 PM
334.8 USD
+0.05 (+0.01%)
After Hours: 5/30/2024, 8:19:22 PM
Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to SWAV. SWAV was compared to 190 industry peers in the Health Care Equipment & Supplies industry. SWAV is in great health and has no worries on liquidiy or solvency at all, but the profibility rating is only average. SWAV is not priced too expensively while it is growing strongly. Keep and eye on this one! With these ratings, SWAV could be worth investigating further for growth investing!.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

In the past year SWAV was profitable.
SWAV had a positive operating cash flow in the past year.
In multiple years SWAV reported negative net income over the last 5 years.
The reported operating cash flow has been mixed in the past 5 years: SWAV reported negative operating cash flow in multiple years.
SWAV Yearly Net Income VS EBIT VS OCF VS FCFSWAV Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 0 50M -50M 100M 150M 200M

1.2 Ratios

SWAV has a better Return On Assets (9.95%) than 93.23% of its industry peers.
SWAV has a better Return On Equity (21.76%) than 95.31% of its industry peers.
With an excellent Return On Invested Capital value of 8.81%, SWAV belongs to the best of the industry, outperforming 88.54% of the companies in the same industry.
Industry RankSector Rank
ROA 9.95%
ROE 21.76%
ROIC 8.81%
ROA(3y)13.4%
ROA(5y)-1.2%
ROE(3y)20.17%
ROE(5y)0.98%
ROIC(3y)N/A
ROIC(5y)N/A
SWAV Yearly ROA, ROE, ROICSWAV Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 0 -50 -100

1.3 Margins

Looking at the Profit Margin, with a value of 20.76%, SWAV belongs to the top of the industry, outperforming 94.79% of the companies in the same industry.
SWAV's Operating Margin of 20.52% is amongst the best of the industry. SWAV outperforms 94.27% of its industry peers.
Looking at the Gross Margin, with a value of 86.99%, SWAV belongs to the top of the industry, outperforming 96.35% of the companies in the same industry.
SWAV's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 20.52%
PM (TTM) 20.76%
GM 86.99%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y7.99%
GM growth 5Y16.42%
SWAV Yearly Profit, Operating, Gross MarginsSWAV Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 0 -500 -1K -1.5K

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7

2. Health

2.1 Basic Checks

SWAV has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, SWAV has more shares outstanding
SWAV has more shares outstanding than it did 5 years ago.
The debt/assets ratio for SWAV is higher compared to a year ago.
SWAV Yearly Shares OutstandingSWAV Yearly Shares OutstandingYearly Shares Outstanding 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M
SWAV Yearly Total Debt VS Total AssetsSWAV Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B

2.2 Solvency

An Altman-Z score of 10.26 indicates that SWAV is not in any danger for bankruptcy at the moment.
SWAV's Altman-Z score of 10.26 is amongst the best of the industry. SWAV outperforms 86.98% of its industry peers.
SWAV has a debt to FCF ratio of 4.41. This is a neutral value as SWAV would need 4.41 years to pay back of all of its debts.
With an excellent Debt to FCF ratio value of 4.41, SWAV belongs to the best of the industry, outperforming 82.81% of the companies in the same industry.
SWAV has a Debt/Equity ratio of 0.97. This is a neutral value indicating SWAV is somewhat dependend on debt financing.
SWAV has a Debt to Equity ratio of 0.97. This is in the lower half of the industry: SWAV underperforms 76.56% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.97
Debt/FCF 4.41
Altman-Z 10.26
ROIC/WACC0.94
WACC9.36%
SWAV Yearly LT Debt VS Equity VS FCFSWAV Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2017 2018 2019 2020 2021 2022 2023 0 200M 400M 600M

2.3 Liquidity

SWAV has a Current Ratio of 13.81. This indicates that SWAV is financially healthy and has no problem in meeting its short term obligations.
SWAV has a Current ratio of 13.81. This is amongst the best in the industry. SWAV outperforms 97.92% of its industry peers.
SWAV has a Quick Ratio of 12.61. This indicates that SWAV is financially healthy and has no problem in meeting its short term obligations.
Looking at the Quick ratio, with a value of 12.61, SWAV belongs to the top of the industry, outperforming 97.40% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 13.81
Quick Ratio 12.61
SWAV Yearly Current Assets VS Current LiabilitesSWAV Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B

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7

3. Growth

3.1 Past

SWAV shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 12.34%, which is quite good.
The Revenue has grown by 41.44% in the past year. This is a very strong growth!
Measured over the past years, SWAV shows a very strong growth in Revenue. The Revenue has been growing by 126.31% on average per year.
EPS 1Y (TTM)12.34%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%39.81%
Revenue 1Y (TTM)41.44%
Revenue growth 3Y120.84%
Revenue growth 5Y126.31%
Sales Q2Q%35.85%

3.2 Future

Based on estimates for the next years, SWAV will show a quite strong growth in Earnings Per Share. The EPS will grow by 17.56% on average per year.
The Revenue is expected to grow by 20.10% on average over the next years. This is a very strong growth
EPS Next Y36.11%
EPS Next 2Y27.65%
EPS Next 3Y24.15%
EPS Next 5Y17.56%
Revenue Next Year27.69%
Revenue Next 2Y24.82%
Revenue Next 3Y23.61%
Revenue Next 5Y20.1%

3.3 Evolution

Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
SWAV Yearly Revenue VS EstimatesSWAV Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 500M 1B 1.5B 2B 2.5B
SWAV Yearly EPS VS EstimatesSWAV Yearly EPS VS EstimatesYearly EPS VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0 2 -2 4 6 8

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4

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 78.21, which means the current valuation is very expensive for SWAV.
Based on the Price/Earnings ratio, SWAV is valued a bit cheaper than 67.19% of the companies in the same industry.
SWAV is valuated expensively when we compare the Price/Earnings ratio to 27.38, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 53.09 indicates a quite expensive valuation of SWAV.
Based on the Price/Forward Earnings ratio, SWAV is valued a bit cheaper than the industry average as 68.75% of the companies are valued more expensively.
SWAV's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 22.86.
Industry RankSector Rank
PE 78.21
Fwd PE 53.09
SWAV Price Earnings VS Forward Price EarningsSWAV Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, SWAV is valued a bit cheaper than the industry average as 67.19% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, SWAV is valued a bit cheaper than the industry average as 75.00% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 75.65
EV/EBITDA 66.43
SWAV Per share dataSWAV EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
SWAV has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as SWAV's earnings are expected to grow with 24.15% in the coming years.
PEG (NY)2.17
PEG (5Y)N/A
EPS Next 2Y27.65%
EPS Next 3Y24.15%

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0

5. Dividend

5.1 Amount

SWAV does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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SHOCKWAVE MEDICAL INC

NASDAQ:SWAV (5/30/2024, 8:19:22 PM)

After market: 334.8 +0.05 (+0.01%)

334.75

-0.08 (-0.02%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)05-06 2024-05-06/amc
Earnings (Next)08-05 2024-08-05/amc
Inst Owners10.85%
Inst Owner Change0%
Ins Owners5.23%
Ins Owner Change0%
Market Cap12.57B
Analysts53.75
Price Target330.75 (-1.19%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector 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)36.32%
Min EPS beat(2)27.98%
Max EPS beat(2)44.66%
EPS beat(4)3
Avg EPS beat(4)18.35%
Min EPS beat(4)-12.88%
Max EPS beat(4)44.66%
EPS beat(8)7
Avg EPS beat(8)24.97%
EPS beat(12)11
Avg EPS beat(12)73.56%
EPS beat(16)13
Avg EPS beat(16)54.46%
Revenue beat(2)1
Avg Revenue beat(2)1.53%
Min Revenue beat(2)-0.23%
Max Revenue beat(2)3.29%
Revenue beat(4)2
Avg Revenue beat(4)0.86%
Min Revenue beat(4)-1.27%
Max Revenue beat(4)3.29%
Revenue beat(8)5
Avg Revenue beat(8)2.94%
Revenue beat(12)9
Avg Revenue beat(12)5.4%
Revenue beat(16)13
Avg Revenue beat(16)8.23%
PT rev (1m)2.57%
PT rev (3m)25.91%
EPS NQ rev (1m)-2.66%
EPS NQ rev (3m)-2.74%
EPS NY rev (1m)6.44%
EPS NY rev (3m)16.18%
Revenue NQ rev (1m)0.35%
Revenue NQ rev (3m)0.36%
Revenue NY rev (1m)0.78%
Revenue NY rev (3m)0.99%
Valuation
Industry RankSector Rank
PE 78.21
Fwd PE 53.09
P/S 15.95
P/FCF 75.65
P/OCF 63.5
P/B 16.72
P/tB 20.26
EV/EBITDA 66.43
EPS(TTM)4.28
EY1.28%
EPS(NY)6.31
Fwd EY1.88%
FCF(TTM)4.42
FCFY1.32%
OCF(TTM)5.27
OCFY1.57%
SpS20.99
BVpS20.03
TBVpS16.52
PEG (NY)2.17
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 9.95%
ROE 21.76%
ROCE 10.42%
ROIC 8.81%
ROICexc 26.17%
ROICexgc 34.98%
OM 20.52%
PM (TTM) 20.76%
GM 86.99%
FCFM 21.08%
ROA(3y)13.4%
ROA(5y)-1.2%
ROE(3y)20.17%
ROE(5y)0.98%
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 3Y7.99%
GM growth 5Y16.42%
F-Score5
Asset Turnover0.48
Health
Industry RankSector Rank
Debt/Equity 0.97
Debt/FCF 4.41
Debt/EBITDA 4.22
Cap/Depr 270.11%
Cap/Sales 4.03%
Interest Coverage 30.21
Cash Conversion 114.09%
Profit Quality 101.56%
Current Ratio 13.81
Quick Ratio 12.61
Altman-Z 10.26
F-Score5
WACC9.36%
ROIC/WACC0.94
Cap/Depr(3y)384.02%
Cap/Depr(5y)409.93%
Cap/Sales(3y)4.85%
Cap/Sales(5y)8.07%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)12.34%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%39.81%
EPS Next Y36.11%
EPS Next 2Y27.65%
EPS Next 3Y24.15%
EPS Next 5Y17.56%
Revenue 1Y (TTM)41.44%
Revenue growth 3Y120.84%
Revenue growth 5Y126.31%
Sales Q2Q%35.85%
Revenue Next Year27.69%
Revenue Next 2Y24.82%
Revenue Next 3Y23.61%
Revenue Next 5Y20.1%
EBIT growth 1Y8.81%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year63.79%
EBIT Next 3Y41.48%
EBIT Next 5Y38.45%
FCF growth 1Y635%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y478.63%
OCF growth 3YN/A
OCF growth 5YN/A