Immersion Corp

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IMMR : NASDAQ : Technology
$8.06 -0.15 | -1.83%
Today's Range: 8.00 - 8.42
Avg. Daily Volume: 278,600
09/28/16 - 4:00 PM ET

Financial Analysis


IMMERSION CORP's gross profit margin for the second quarter of its fiscal year 2016 has significantly decreased when compared to the same period a year ago. Sales and net income fell significantly; although net income growth outperformed the average competitor in its industry, revenue growth did not. IMMERSION CORP is extremely liquid. Currently, the Quick Ratio is 3.85 which clearly shows the ability to cover any short-term cash needs. The company's liquidity has increased from the same period last year.

At the same time, stockholders' equity ("net worth") has remained virtually unchanged only increasing by 2.23% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is very unlikely to face financial difficulties in the near future.

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Income Statement Q2 FY16 Q2 FY15
Net Sales ($mil)7.8616.22
EBITDA ($mil)-9.342.46
EBIT ($mil)-9.562.22
Net Income ($mil)-5.561.6


Balance Sheet Q2 FY16 Q2 FY15
Cash & Equiv. ($mil)56.2771.63
Total Assets ($mil)101.16113.82
Total Debt ($mil)0.00.0
Equity ($mil)83.8181.98


Profitability Q2 FY16 Q2 FY15
Gross Profit Margin-118.7115.13
EBITDA Margin-118.715.13
Operating Margin-121.5813.67
Sales Turnover0.520.51
Return on Assets-6.843.18
Return on Equity-9.044.42
Debt Q2 FY16 Q2 FY15
Current Ratio4.053.45
Debt/Capital0.00.0
Interest Expense0.00.0
Interest Coverage0.00.0


Share Data Q2 FY16 Q2 FY15
Shares outstanding (mil)28.8628.14
Div / share0.00.0
EPS-0.220.06
Book value / share2.92.91
Institutional Own % n/a n/a
Avg Daily Volume304774.0294304.0

Valuation


HOLD. The current P/E ratio is negative, which has no meaningful value in the assessment of premium or discount valuation, it simply displays that the company has negative earnings. To use another comparison, its price-to-book ratio of 2.77 indicates valuation on par with the S&P 500 average of 2.82 and a significant discount versus the industry average of 4.38. The price-to-sales ratio is well above both the S&P 500 average and the industry average, indicating a premium. The valuation analysis reveals that, IMMERSION CORP seems to be trading at a premium to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
IMMR NM Peers 15.08   IMMR NM Peers 10.13

Neutral. The absence of a valid P/E ratio happens when a stock can not be valued on the basis of a negative stream of earnings.

IMMR's P/E is negative making this valuation measure meaningless.

 

Neutral. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

IMMR's P/CF is negative making the measure meaningless.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
IMMR 47.29 Peers 14.13   IMMR NA Peers 0.22

Neutral. The absence of a valid price-to-projected earnings ratio happens when a stock can not be valued on the basis of a negative expected future earnings.

IMMR's ratio is negative making this valuation measure meaningless.

 

Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

Ratio not available.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
IMMR 2.77 Peers 4.38   IMMR -292.85 Peers -19.93

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

IMMR is trading at a significant discount to its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, IMMR is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
IMMR 4.43 Peers 2.43   IMMR -9.99 Peers -1.25

Premium. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

IMMR is trading at a significant premium to its industry.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

IMMR significantly trails its peers on the basis of sales growth

 

 

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