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IMMERSION CORPORATION (IMMR) Stock Fundamental Analysis

NASDAQ:IMMR - Nasdaq - US4525211078 - Common Stock - Currency: USD

7.07  -0.22 (-3.02%)

After market: 7.07 0 (0%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to IMMR. IMMR was compared to 32 industry peers in the Technology Hardware, Storage & Peripherals industry. While IMMR is still in line with the averages on profitability rating, there are concerns on its financial health. A decent growth rate in combination with a cheap valuation! Better keep an eye on IMMR.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

In the past year IMMR was profitable.
IMMR had positive earnings in 4 of the past 5 years.
IMMR had a positive operating cash flow in 4 of the past 5 years.
IMMR Yearly Net Income VS EBIT VS OCF VS FCFIMMR 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 20M -20M 40M -40M 60M

1.2 Ratios

IMMR's Return On Assets of 2.86% is in line compared to the rest of the industry. IMMR outperforms 59.38% of its industry peers.
IMMR has a better Return On Equity (14.75%) than 87.50% of its industry peers.
IMMR has a Return On Invested Capital (1.89%) which is in line with its industry peers.
The Average Return On Invested Capital over the past 3 years for IMMR is significantly below the industry average of 15.58%.
The 3 year average ROIC (9.10%) for IMMR is well above the current ROIC(1.89%). The reason for the recent decline needs to be investigated.
Industry RankSector Rank
ROA 2.86%
ROE 14.75%
ROIC 1.89%
ROA(3y)13%
ROA(5y)5.72%
ROE(3y)15.61%
ROE(5y)6.28%
ROIC(3y)9.1%
ROIC(5y)N/A
IMMR Yearly ROA, ROE, ROICIMMR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -100 -200 -300 -400

1.3 Margins

IMMR has a better Profit Margin (100.17%) than 100.00% of its industry peers.
In the last couple of years the Profit Margin of IMMR has grown nicely.
IMMR has a Operating Margin of 52.85%. This is amongst the best in the industry. IMMR outperforms 100.00% of its industry peers.
IMMR's Operating Margin has improved in the last couple of years.
Industry RankSector Rank
OM 52.85%
PM (TTM) 100.17%
GM N/A
OM growth 3Y94.23%
OM growth 5Y2.01%
PM growth 3Y78.19%
PM growth 5Y15.41%
GM growth 3YN/A
GM growth 5YN/A
IMMR Yearly Profit, Operating, Gross MarginsIMMR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50 -50 100 -100

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2

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so IMMR is still creating some value.
Compared to 1 year ago, IMMR has less shares outstanding
IMMR has more shares outstanding than it did 5 years ago.
There is no outstanding debt for IMMR. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
IMMR Yearly Shares OutstandingIMMR Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M
IMMR Yearly Total Debt VS Total AssetsIMMR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M

2.2 Solvency

Based on the Altman-Z score of 0.48, we must say that IMMR is in the distress zone and has some risk of bankruptcy.
IMMR's Altman-Z score of 0.48 is on the low side compared to the rest of the industry. IMMR is outperformed by 68.75% of its industry peers.
A Debt/Equity ratio of 0.81 indicates that IMMR is somewhat dependend on debt financing.
The Debt to Equity ratio of IMMR (0.81) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.81
Debt/FCF N/A
Altman-Z 0.48
ROIC/WACC0.21
WACC8.98%
IMMR Yearly LT Debt VS Equity VS FCFIMMR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50M 100M 150M

2.3 Liquidity

A Current Ratio of 1.55 indicates that IMMR should not have too much problems paying its short term obligations.
IMMR's Current ratio of 1.55 is in line compared to the rest of the industry. IMMR outperforms 53.13% of its industry peers.
A Quick Ratio of 0.72 indicates that IMMR may have some problems paying its short term obligations.
IMMR's Quick ratio of 0.72 is on the low side compared to the rest of the industry. IMMR is outperformed by 71.88% of its industry peers.
Industry RankSector Rank
Current Ratio 1.55
Quick Ratio 0.72
IMMR Yearly Current Assets VS Current LiabilitesIMMR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M

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5

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 14.12% over the past year.
IMMR shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -9.60% yearly.
The Revenue for IMMR has decreased by -11.81% in the past year. This is quite bad
Measured over the past years, IMMR shows a very negative growth in Revenue. The Revenue has been decreasing by -21.11% on average per year.
EPS 1Y (TTM)14.12%
EPS 3Y47.44%
EPS 5Y-9.6%
EPS Q2Q%N/A
Revenue 1Y (TTM)-11.81%
Revenue growth 3Y3.61%
Revenue growth 5Y-21.11%
Sales Q2Q%-22.96%

3.2 Future

Based on estimates for the next years, IMMR will show a quite strong growth in Earnings Per Share. The EPS will grow by 10.87% on average per year.
Based on estimates for the next years, IMMR will show a very strong growth in Revenue. The Revenue will grow by 189.84% on average per year.
EPS Next Y75.07%
EPS Next 2Y62.1%
EPS Next 3Y10.87%
EPS Next 5YN/A
Revenue Next Year1039.86%
Revenue Next 2Y388.92%
Revenue Next 3Y189.84%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
IMMR Yearly Revenue VS EstimatesIMMR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 200M 400M 600M
IMMR Yearly EPS VS EstimatesIMMR Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 1 2 3

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7

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 5.66, the valuation of IMMR can be described as very cheap.
IMMR's Price/Earnings ratio is rather cheap when compared to the industry. IMMR is cheaper than 96.88% of the companies in the same industry.
IMMR's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.29.
IMMR is valuated cheaply with a Price/Forward Earnings ratio of 2.15.
96.88% of the companies in the same industry are more expensive than IMMR, based on the Price/Forward Earnings ratio.
IMMR's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 21.08.
Industry RankSector Rank
PE 5.66
Fwd PE 2.15
IMMR Price Earnings VS Forward Price EarningsIMMR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, IMMR is valued a bit cheaper than 65.63% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 10.26
IMMR Per share dataIMMR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

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.
IMMR has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)0.08
PEG (5Y)N/A
EPS Next 2Y62.1%
EPS Next 3Y10.87%

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3

5. Dividend

5.1 Amount

IMMR has a Yearly Dividend Yield of 2.57%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 3.90, IMMR pays a better dividend. On top of this IMMR pays more dividend than 81.25% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.57, IMMR has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.57%

5.2 History

IMMR has been paying a dividend for less than 5 years, so it still needs to build a track record.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
IMMR Yearly Dividends per shareIMMR Yearly Dividends per shareYearly Dividends per share 2023 2024 2025 0.05 0.1 0.15 0.2 0.25

5.3 Sustainability

DPN/A
EPS Next 2Y62.1%
EPS Next 3Y10.87%
IMMR Yearly Income VS Free CF VS DividendIMMR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20M -20M 40M -40M 60M

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IMMERSION CORPORATION

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

After market: 7.07 0 (0%)

7.07

-0.22 (-3.02%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryTechnology Hardware, Storage & Peripherals
Earnings (Last)03-12 2025-03-12/bmo
Earnings (Next)08-18 2025-08-18
Inst Owners59.01%
Inst Owner Change0%
Ins Owners5.04%
Ins Owner Change-1.27%
Market Cap229.07M
Analysts82.5
Price Target12.5 (76.8%)
Short Float %9.67%
Short Ratio5.4
Dividend
Industry RankSector Rank
Dividend Yield 2.57%
Yearly Dividend0.23
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-Date04-14 2025-04-14 (0.045)
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-10.91%
PT rev (3m)-10.91%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 5.66
Fwd PE 2.15
P/S 6.75
P/FCF N/A
P/OCF N/A
P/B 0.99
P/tB 1.89
EV/EBITDA 10.26
EPS(TTM)1.25
EY17.68%
EPS(NY)3.28
Fwd EY46.46%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS1.05
BVpS7.11
TBVpS3.74
PEG (NY)0.08
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 2.86%
ROE 14.75%
ROCE 2.39%
ROIC 1.89%
ROICexc 2.3%
ROICexgc 2.8%
OM 52.85%
PM (TTM) 100.17%
GM N/A
FCFM N/A
ROA(3y)13%
ROA(5y)5.72%
ROE(3y)15.61%
ROE(5y)6.28%
ROIC(3y)9.1%
ROIC(5y)N/A
ROICexc(3y)48.9%
ROICexc(5y)N/A
ROICexgc(3y)48.9%
ROICexgc(5y)N/A
ROCE(3y)11.5%
ROCE(5y)N/A
ROICexcg growth 3Y84.52%
ROICexcg growth 5YN/A
ROICexc growth 3Y84.52%
ROICexc growth 5Y-44.16%
OM growth 3Y94.23%
OM growth 5Y2.01%
PM growth 3Y78.19%
PM growth 5Y15.41%
GM growth 3YN/A
GM growth 5YN/A
F-ScoreN/A
Asset Turnover0.03
Health
Industry RankSector Rank
Debt/Equity 0.81
Debt/FCF N/A
Debt/EBITDA 10.37
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.55
Quick Ratio 0.72
Altman-Z 0.48
F-ScoreN/A
WACC8.98%
ROIC/WACC0.21
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)109.51%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)14.12%
EPS 3Y47.44%
EPS 5Y-9.6%
EPS Q2Q%N/A
EPS Next Y75.07%
EPS Next 2Y62.1%
EPS Next 3Y10.87%
EPS Next 5YN/A
Revenue 1Y (TTM)-11.81%
Revenue growth 3Y3.61%
Revenue growth 5Y-21.11%
Sales Q2Q%-22.96%
Revenue Next Year1039.86%
Revenue Next 2Y388.92%
Revenue Next 3Y189.84%
Revenue Next 5YN/A
EBIT growth 1Y-26.59%
EBIT growth 3Y101.23%
EBIT growth 5Y-19.52%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-48.65%
FCF growth 3YN/A
FCF growth 5Y-21.67%
OCF growth 1Y-48.69%
OCF growth 3Y909.9%
OCF growth 5Y-21.68%