IMPINJ INC (PI) Stock Fundamental Analysis
NASDAQ:PI - Nasdaq - US4532041096 - Common Stock - Currency: USD
PI gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 109 industry peers in the Semiconductors & Semiconductor Equipment industry. Both the profitability and the financial health of PI get a neutral evaluation. Nothing too spectacular is happening here. PI is valued quite expensive, but it does show an excellent growth.
1. Profitability
1.1 Basic Checks
PI had positive earnings in the past year.
PI had a positive operating cash flow in the past year.
PI had negative earnings in 4 of the past 5 years.
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
With an excellent Return On Assets value of 15.67%, PI belongs to the best of the industry, outperforming 89.91% of the companies in the same industry.
PI has a Return On Equity of 51.12%. This is amongst the best in the industry. PI outperforms 95.41% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 15.67% | ||
| ROE | 51.12% | ||
| 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
PI has a Profit Margin of 17.30%. This is in the better half of the industry: PI outperforms 77.06% of its industry peers.
Looking at the Gross Margin, with a value of 51.12%, PI is in the better half of the industry, outperforming 66.97% of the companies in the same industry.
In the last couple of years the Gross Margin of PI has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 17.3% | ||
| GM | 51.12% |
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.
Compared to 1 year ago, PI has more shares outstanding
Compared to 5 years ago, PI has more shares outstanding
PI has a better debt/assets ratio than last year.
2.2 Solvency
PI has an Altman-Z score of 3.14. This indicates that PI is financially healthy and has little risk of bankruptcy at the moment.
With a Altman-Z score value of 3.14, PI perfoms like the industry average, outperforming 51.38% of the companies in the same industry.
There is no outstanding debt for PI. 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 Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0 | ||
| Debt/FCF | 2.55 | ||
| Altman-Z | 3.14 |
ROIC/WACCN/A
WACC10.4%
2.3 Liquidity
A Current Ratio of 0.99 indicates that PI may have some problems paying its short term obligations.
PI's Current ratio of 0.99 is on the low side compared to the rest of the industry. PI is outperformed by 91.74% of its industry peers.
A Quick Ratio of 0.69 indicates that PI may have some problems paying its short term obligations.
PI has a worse Quick ratio (0.69) than 90.83% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.99 | ||
| Quick Ratio | 0.69 |
3. Growth
3.1 Past
PI shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 187.29%, which is quite impressive.
The Earnings Per Share has been growing by 126.36% on average over the past years. This is a very strong growth
The Revenue has grown by 44.01% in the past year. This is a very strong growth!
The Revenue has been growing by 19.09% on average over the past years. This is quite good.
EPS 1Y (TTM)187.29%
EPS 3Y105.41%
EPS 5Y126.36%
EPS Q2Q%433.33%
Revenue 1Y (TTM)44.01%
Revenue growth 3Y24.37%
Revenue growth 5Y19.09%
Sales Q2Q%29.61%
3.2 Future
Based on estimates for the next years, PI will show a very strong growth in Earnings Per Share. The EPS will grow by 22.68% on average per year.
Based on estimates for the next years, PI will show a quite strong growth in Revenue. The Revenue will grow by 16.32% on average per year.
EPS Next Y-29.25%
EPS Next 2Y10.48%
EPS Next 3Y20.26%
EPS Next 5Y22.68%
Revenue Next Year-5.38%
Revenue Next 2Y9.52%
Revenue Next 3Y14.17%
Revenue Next 5Y16.32%
3.3 Evolution
Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
PI is valuated quite expensively with a Price/Earnings ratio of 33.01.
PI's Price/Earnings ratio is in line with the industry average.
PI's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 28.29.
With a Price/Forward Earnings ratio of 46.66, PI can be considered very expensive at the moment.
PI's Price/Forward Earnings ratio is in line with the industry average.
PI is valuated expensively when we compare the Price/Forward Earnings ratio to 21.08, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 33.01 | ||
| Fwd PE | 46.66 |
4.2 Price Multiples
Based on the Price/Free Cash Flow ratio, PI is valued cheaper than 86.24% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 17.62 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
PI's earnings are expected to grow with 20.26% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)0.26
EPS Next 2Y10.48%
EPS Next 3Y20.26%
5. Dividend
5.1 Amount
No dividends for PI!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
68.67
+2.64 (+4%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners111.19%
Inst Owner Change0.16%
Ins Owners3.65%
Ins Owner Change3.91%
Market Cap1.96B
Analysts83.75
Price Target146.31 (113.06%)
Short Float %12.98%
Short Ratio4.96
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)1
Avg EPS beat(2)5.84%
Min EPS beat(2)-2.35%
Max EPS beat(2)14.03%
EPS beat(4)3
Avg EPS beat(4)26.9%
Min EPS beat(4)-2.35%
Max EPS beat(4)86.86%
EPS beat(8)6
Avg EPS beat(8)60.98%
EPS beat(12)9
Avg EPS beat(12)185.18%
EPS beat(16)13
Avg EPS beat(16)203.92%
Revenue beat(2)0
Avg Revenue beat(2)-2.45%
Min Revenue beat(2)-4.41%
Max Revenue beat(2)-0.49%
Revenue beat(4)2
Avg Revenue beat(4)-0.37%
Min Revenue beat(4)-4.41%
Max Revenue beat(4)2.04%
Revenue beat(8)3
Avg Revenue beat(8)-0.7%
Revenue beat(12)6
Avg Revenue beat(12)0.16%
Revenue beat(16)8
Avg Revenue beat(16)0.75%
PT rev (1m)0%
PT rev (3m)-39.24%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-79.99%
EPS NY rev (1m)0%
EPS NY rev (3m)-47.98%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-22.63%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-21.2%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 33.01 | ||
| Fwd PE | 46.66 | ||
| P/S | 4.42 | ||
| P/FCF | 17.62 | ||
| P/OCF | 15.27 | ||
| P/B | 13.08 | ||
| P/tB | 16.22 | ||
| EV/EBITDA | N/A |
EPS(TTM)2.08
EY3.03%
EPS(NY)1.47
Fwd EY2.14%
FCF(TTM)3.9
FCFY5.67%
OCF(TTM)4.5
OCFY6.55%
SpS15.52
BVpS5.25
TBVpS4.23
PEG (NY)N/A
PEG (5Y)0.26
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 15.67% | ||
| ROE | 51.12% | ||
| ROCE | N/A | ||
| ROIC | N/A | ||
| ROICexc | N/A | ||
| ROICexgc | N/A | ||
| OM | N/A | ||
| PM (TTM) | 17.3% | ||
| GM | 51.12% | ||
| FCFM | 25.11% |
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-Score7
Asset Turnover0.91
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0 | ||
| Debt/FCF | 2.55 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | 125.94% | ||
| Cap/Sales | 3.86% | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | 145.14% | ||
| Current Ratio | 0.99 | ||
| Quick Ratio | 0.69 | ||
| Altman-Z | 3.14 |
F-Score7
WACC10.4%
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)187.29%
EPS 3Y105.41%
EPS 5Y126.36%
EPS Q2Q%433.33%
EPS Next Y-29.25%
EPS Next 2Y10.48%
EPS Next 3Y20.26%
EPS Next 5Y22.68%
Revenue 1Y (TTM)44.01%
Revenue growth 3Y24.37%
Revenue growth 5Y19.09%
Sales Q2Q%29.61%
Revenue Next Year-5.38%
Revenue Next 2Y9.52%
Revenue Next 3Y14.17%
Revenue Next 5Y16.32%
EBIT growth 1Y65.09%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year-20.16%
EBIT Next 3Y35.9%
EBIT Next 5Y33.72%
FCF growth 1Y262.99%
FCF growth 3YN/A
FCF growth 5Y117.59%
OCF growth 1Y359.83%
OCF growth 3Y170.68%
OCF growth 5Y93.66%