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ICAD INC (ICAD) Stock Fundamental Analysis

NASDAQ:ICAD - Nasdaq - US44934S2068 - Common Stock - Currency: USD

3.22  +0.15 (+4.89%)

After market: 3.22 0 (0%)

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to ICAD. ICAD was compared to 37 industry peers in the Health Care Technology industry. No worries on liquidiy or solvency for ICAD as it has an excellent financial health rating, but there are worries on the profitability. ICAD is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

In the past year ICAD has reported negative net income.
In the past year ICAD has reported a negative cash flow from operations.
In the past 5 years ICAD always reported negative net income.
In the past 5 years ICAD always reported negative operating cash flow.
ICAD Yearly Net Income VS EBIT VS OCF VS FCFICAD 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 2024 -10M -20M -30M

1.2 Ratios

ICAD has a Return On Assets of -14.96%. This is comparable to the rest of the industry: ICAD outperforms 59.46% of its industry peers.
ICAD's Return On Equity of -19.58% is in line compared to the rest of the industry. ICAD outperforms 59.46% of its industry peers.
Industry RankSector Rank
ROA -14.96%
ROE -19.58%
ROIC N/A
ROA(3y)-17.69%
ROA(5y)-20.57%
ROE(3y)-24.41%
ROE(5y)-31.02%
ROIC(3y)N/A
ROIC(5y)N/A
ICAD Yearly ROA, ROE, ROICICAD Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 -50 -100 -150 -200 -250

1.3 Margins

ICAD has a better Gross Margin (84.83%) than 89.19% of its industry peers.
In the last couple of years the Gross Margin of ICAD has grown nicely.
The Profit Margin and Operating Margin are not available for ICAD so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 84.83%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y5.59%
GM growth 5Y1.87%
ICAD Yearly Profit, Operating, Gross MarginsICAD Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50

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7

2. Health

2.1 Basic Checks

ICAD does not have a ROIC to compare to the WACC, probably because it is not profitable.
ICAD has about the same amout of shares outstanding than it did 1 year ago.
Compared to 5 years ago, ICAD has more shares outstanding
There is no outstanding debt for ICAD. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
ICAD Yearly Shares OutstandingICAD Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M 25M
ICAD Yearly Total Debt VS Total AssetsICAD Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M

2.2 Solvency

Based on the Altman-Z score of -3.78, we must say that ICAD is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of -3.78, ICAD is doing worse than 64.86% of the companies in the same industry.
There is no outstanding debt for ICAD. 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 -3.78
ROIC/WACCN/A
WACC10.5%
ICAD Yearly LT Debt VS Equity VS FCFICAD Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10M -10M 20M 30M 40M

2.3 Liquidity

ICAD has a Current Ratio of 3.50. This indicates that ICAD is financially healthy and has no problem in meeting its short term obligations.
ICAD has a better Current ratio (3.50) than 81.08% of its industry peers.
A Quick Ratio of 3.40 indicates that ICAD has no problem at all paying its short term obligations.
ICAD has a Quick ratio of 3.40. This is amongst the best in the industry. ICAD outperforms 81.08% of its industry peers.
Industry RankSector Rank
Current Ratio 3.5
Quick Ratio 3.4
ICAD Yearly Current Assets VS Current LiabilitesICAD Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M

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4

3. Growth

3.1 Past

The Earnings Per Share has been growing slightly by 4.55% over the past year.
ICAD shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 13.21%.
ICAD shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -8.95% yearly.
EPS 1Y (TTM)4.55%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-160%
Revenue 1Y (TTM)13.21%
Revenue growth 3Y-16.47%
Revenue growth 5Y-8.95%
Sales Q2Q%14.07%

3.2 Future

Based on estimates for the next years, ICAD will show a very strong growth in Earnings Per Share. The EPS will grow by 25.48% on average per year.
ICAD is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 17.99% yearly.
EPS Next Y-6.86%
EPS Next 2Y19.04%
EPS Next 3Y25.48%
EPS Next 5YN/A
Revenue Next Year3.63%
Revenue Next 2Y9.06%
Revenue Next 3Y17.99%
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.
ICAD Yearly Revenue VS EstimatesICAD Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 10M 20M 30M 40M
ICAD Yearly EPS VS EstimatesICAD Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 -0.2 -0.4 -0.6

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1

4. Valuation

4.1 Price/Earnings Ratio

ICAD reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for ICAD. No positive earnings are expected for the next year.
Industry RankSector Rank
PE N/A
Fwd PE N/A
ICAD Price Earnings VS Forward Price EarningsICAD Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 -10 20 30 40

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
ICAD Per share dataICAD EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.2 -0.2 0.4 0.6 0.8 1

4.3 Compensation for Growth

ICAD's earnings are expected to grow with 25.48% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y19.04%
EPS Next 3Y25.48%

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0

5. Dividend

5.1 Amount

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

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ICAD INC

NASDAQ:ICAD (4/17/2025, 8:00:02 PM)

After market: 3.22 0 (0%)

3.22

+0.15 (+4.89%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Technology
Earnings (Last)03-19 2025-03-19/amc
Earnings (Next)05-13 2025-05-13/bmo
Inst Owners23.48%
Inst Owner Change-6.2%
Ins Owners5.63%
Ins Owner Change0.69%
Market Cap88.13M
Analysts84
Price Target4.85 (50.62%)
Short Float %0.92%
Short Ratio0.45
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)30.81%
Min EPS beat(2)17.64%
Max EPS beat(2)43.98%
EPS beat(4)4
Avg EPS beat(4)24%
Min EPS beat(4)11.77%
Max EPS beat(4)43.98%
EPS beat(8)7
Avg EPS beat(8)42.78%
EPS beat(12)8
Avg EPS beat(12)27.33%
EPS beat(16)9
Avg EPS beat(16)16.68%
Revenue beat(2)1
Avg Revenue beat(2)0.64%
Min Revenue beat(2)-8.54%
Max Revenue beat(2)9.83%
Revenue beat(4)3
Avg Revenue beat(4)5.51%
Min Revenue beat(4)-8.54%
Max Revenue beat(4)11.48%
Revenue beat(8)4
Avg Revenue beat(8)-2.04%
Revenue beat(12)4
Avg Revenue beat(12)-11.07%
Revenue beat(16)5
Avg Revenue beat(16)-9.5%
PT rev (1m)35.71%
PT rev (3m)8.57%
EPS NQ rev (1m)-4.17%
EPS NQ rev (3m)-4.17%
EPS NY rev (1m)0%
EPS NY rev (3m)10.81%
Revenue NQ rev (1m)-7.08%
Revenue NQ rev (3m)-3.39%
Revenue NY rev (1m)0.18%
Revenue NY rev (3m)1.63%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 4.49
P/FCF N/A
P/OCF N/A
P/B 3.07
P/tB 4.36
EV/EBITDA N/A
EPS(TTM)-0.21
EYN/A
EPS(NY)-0.22
Fwd EYN/A
FCF(TTM)-0.15
FCFYN/A
OCF(TTM)-0.14
OCFYN/A
SpS0.72
BVpS1.05
TBVpS0.74
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -14.96%
ROE -19.58%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 84.83%
FCFM N/A
ROA(3y)-17.69%
ROA(5y)-20.57%
ROE(3y)-24.41%
ROE(5y)-31.02%
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 3Y5.59%
GM growth 5Y1.87%
F-Score3
Asset Turnover0.52
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 26.92%
Cap/Sales 0.86%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 3.5
Quick Ratio 3.4
Altman-Z -3.78
F-Score3
WACC10.5%
ROIC/WACCN/A
Cap/Depr(3y)118.09%
Cap/Depr(5y)108.13%
Cap/Sales(3y)2.69%
Cap/Sales(5y)2.28%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)4.55%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-160%
EPS Next Y-6.86%
EPS Next 2Y19.04%
EPS Next 3Y25.48%
EPS Next 5YN/A
Revenue 1Y (TTM)13.21%
Revenue growth 3Y-16.47%
Revenue growth 5Y-8.95%
Sales Q2Q%14.07%
Revenue Next Year3.63%
Revenue Next 2Y9.06%
Revenue Next 3Y17.99%
Revenue Next 5YN/A
EBIT growth 1Y20.94%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year29.19%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y30.12%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y20.53%
OCF growth 3YN/A
OCF growth 5YN/A