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AIRGAIN INC (AIRG) Stock Fundamental Analysis

NASDAQ:AIRG - Nasdaq - US00938A1043 - Common Stock - Currency: USD

6.53  -0.29 (-4.25%)

Fundamental Rating

3

Taking everything into account, AIRG scores 3 out of 10 in our fundamental rating. AIRG was compared to 124 industry peers in the Electronic Equipment, Instruments & Components industry. While AIRG seems to be doing ok healthwise, there are quite some concerns on its profitability. AIRG has a expensive valuation and it also scores bad on growth.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

AIRG had negative earnings in the past year.
In the past year AIRG has reported a negative cash flow from operations.
AIRG had negative earnings in 4 of the past 5 years.
The reported operating cash flow has been mixed in the past 5 years: AIRG reported negative operating cash flow in multiple years.
AIRG Yearly Net Income VS EBIT VS OCF VS FCFAIRG Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -5M -10M

1.2 Ratios

With a Return On Assets value of -28.23%, AIRG is not doing good in the industry: 77.50% of the companies in the same industry are doing better.
With a Return On Equity value of -39.63%, AIRG is not doing good in the industry: 76.67% of the companies in the same industry are doing better.
Industry RankSector Rank
ROA -28.23%
ROE -39.63%
ROIC N/A
ROA(3y)-20.18%
ROA(5y)-12.96%
ROE(3y)-28.05%
ROE(5y)-17.82%
ROIC(3y)N/A
ROIC(5y)N/A
AIRG Yearly ROA, ROE, ROICAIRG Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -20 -40 -60

1.3 Margins

With a decent Gross Margin value of 38.44%, AIRG is doing good in the industry, outperforming 67.50% of the companies in the same industry.
In the last couple of years the Gross Margin of AIRG has declined.
AIRG does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 38.44%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-7.34%
GM growth 5Y-3.26%
AIRG Yearly Profit, Operating, Gross MarginsAIRG Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 -20 40

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5

2. Health

2.1 Basic Checks

AIRG does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for AIRG has been increased compared to 1 year ago.
The number of shares outstanding for AIRG has been increased compared to 5 years ago.
AIRG has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
AIRG Yearly Shares OutstandingAIRG Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2M 4M 6M 8M 10M
AIRG Yearly Total Debt VS Total AssetsAIRG Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M

2.2 Solvency

Based on the Altman-Z score of 1.46, we must say that AIRG is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of 1.46, AIRG is not doing good in the industry: 70.00% of the companies in the same industry are doing better.
There is no outstanding debt for AIRG. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Altman-Z 1.46
ROIC/WACCN/A
WACC9.06%
AIRG Yearly LT Debt VS Equity VS FCFAIRG Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10M -10M 20M 30M 40M

2.3 Liquidity

A Current Ratio of 1.92 indicates that AIRG should not have too much problems paying its short term obligations.
AIRG's Current ratio of 1.92 is on the low side compared to the rest of the industry. AIRG is outperformed by 61.67% of its industry peers.
AIRG has a Quick Ratio of 1.71. This is a normal value and indicates that AIRG is financially healthy and should not expect problems in meeting its short term obligations.
AIRG has a Quick ratio of 1.71. This is comparable to the rest of the industry: AIRG outperforms 48.33% of its industry peers.
Industry RankSector Rank
Current Ratio 1.92
Quick Ratio 1.71
AIRG Yearly Current Assets VS Current LiabilitesAIRG Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M 50M

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3

3. Growth

3.1 Past

AIRG shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -76.92%.
AIRG shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -15.60%.
Measured over the past years, AIRG shows a decrease in Revenue. The Revenue has been decreasing by -1.56% on average per year.
EPS 1Y (TTM)-76.92%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%100%
Revenue 1Y (TTM)-15.6%
Revenue growth 3Y4.93%
Revenue growth 5Y-1.56%
Sales Q2Q%17.56%

3.2 Future

Based on estimates for the next years, AIRG will show a very strong growth in Earnings Per Share. The EPS will grow by 43.52% on average per year.
AIRG is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 14.02% yearly.
EPS Next Y75.21%
EPS Next 2Y49.1%
EPS Next 3Y43.52%
EPS Next 5YN/A
Revenue Next Year11.04%
Revenue Next 2Y11.69%
Revenue Next 3Y14.02%
Revenue Next 5YN/A

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
AIRG Yearly Revenue VS EstimatesAIRG Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 20M 40M 60M 80M
AIRG Yearly EPS VS EstimatesAIRG Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 0.2 -0.2 0.4 -0.4

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2

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for AIRG. In the last year negative earnings were reported.
With a Price/Forward Earnings ratio of 60.97, AIRG can be considered very expensive at the moment.
The rest of the industry has a similar Price/Forward Earnings ratio as AIRG.
AIRG is valuated expensively when we compare the Price/Forward Earnings ratio to 22.68, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE N/A
Fwd PE 60.97
AIRG Price Earnings VS Forward Price EarningsAIRG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 40 60

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
AIRG Per share dataAIRG EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2 3 4

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as AIRG's earnings are expected to grow with 43.52% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y49.1%
EPS Next 3Y43.52%

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0

5. Dividend

5.1 Amount

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

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AIRGAIN INC

NASDAQ:AIRG (2/21/2025, 8:00:40 PM)

6.53

-0.29 (-4.25%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)11-12 2024-11-12/amc
Earnings (Next)02-27 2025-02-27/amc
Inst Owners37.75%
Inst Owner Change-82.26%
Ins Owners5.91%
Ins Owner Change0.65%
Market Cap74.05M
Analysts82.22
Price Target11.05 (69.22%)
Short Float %1.36%
Short Ratio4.2
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)62.29%
Min EPS beat(2)24.59%
Max EPS beat(2)100%
EPS beat(4)2
Avg EPS beat(4)14.56%
Min EPS beat(4)-61.76%
Max EPS beat(4)100%
EPS beat(8)2
Avg EPS beat(8)-72.61%
EPS beat(12)5
Avg EPS beat(12)205.65%
EPS beat(16)7
Avg EPS beat(16)148.17%
Revenue beat(2)0
Avg Revenue beat(2)-1.05%
Min Revenue beat(2)-1.34%
Max Revenue beat(2)-0.76%
Revenue beat(4)1
Avg Revenue beat(4)-0.84%
Min Revenue beat(4)-1.34%
Max Revenue beat(4)0.01%
Revenue beat(8)1
Avg Revenue beat(8)-2.55%
Revenue beat(12)2
Avg Revenue beat(12)-1.98%
Revenue beat(16)3
Avg Revenue beat(16)-2.33%
PT rev (1m)-2.99%
PT rev (3m)-2.99%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-53.34%
EPS NY rev (1m)-12.91%
EPS NY rev (3m)2.78%
Revenue NQ rev (1m)-3.48%
Revenue NQ rev (3m)-6.82%
Revenue NY rev (1m)-0.96%
Revenue NY rev (3m)-0.81%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 60.97
P/S 1.33
P/FCF N/A
P/OCF N/A
P/B 2.4
P/tB 5.33
EV/EBITDA N/A
EPS(TTM)-0.46
EYN/A
EPS(NY)0.11
Fwd EY1.64%
FCF(TTM)-0.51
FCFYN/A
OCF(TTM)-0.48
OCFYN/A
SpS4.9
BVpS2.72
TBVpS1.22
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -28.23%
ROE -39.63%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 38.44%
FCFM N/A
ROA(3y)-20.18%
ROA(5y)-12.96%
ROE(3y)-28.05%
ROE(5y)-17.82%
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-7.34%
GM growth 5Y-3.26%
F-Score3
Asset Turnover1.29
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 9.94%
Cap/Sales 0.64%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.92
Quick Ratio 1.71
Altman-Z 1.46
F-Score3
WACC9.06%
ROIC/WACCN/A
Cap/Depr(3y)16.95%
Cap/Depr(5y)44.61%
Cap/Sales(3y)0.92%
Cap/Sales(5y)1.29%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-76.92%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%100%
EPS Next Y75.21%
EPS Next 2Y49.1%
EPS Next 3Y43.52%
EPS Next 5YN/A
Revenue 1Y (TTM)-15.6%
Revenue growth 3Y4.93%
Revenue growth 5Y-1.56%
Sales Q2Q%17.56%
Revenue Next Year11.04%
Revenue Next 2Y11.69%
Revenue Next 3Y14.02%
Revenue Next 5YN/A
EBIT growth 1Y-22.04%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year78.86%
EBIT Next 3Y57.28%
EBIT Next 5YN/A
FCF growth 1Y-93.17%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-150.78%
OCF growth 3YN/A
OCF growth 5YN/A