Meridian Bioscience Inc

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VIVO : NASDAQ : Health Care
$19.58 -0.19 | -0.96%
Today's Range: 19.55 - 19.77
Avg. Daily Volume: 205,700
09/26/16 - 4:00 PM ET

Financial Analysis


MERIDIAN BIOSCIENCE INC's gross profit margin for the third quarter of its fiscal year 2016 has increased when compared to the same period a year ago. Even though sales increased, the net income has decreased. MERIDIAN BIOSCIENCE INC is extremely liquid. Currently, the Quick Ratio is 3.81 which clearly shows the ability to cover any short-term cash needs. The company's liquidity has decreased from the same period last year, indicating deteriorating cash flow.

At the same time, stockholders' equity ("net worth") has remained virtually unchanged only increasing by 3.00% 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 Q3 FY16 Q3 FY15
Net Sales ($mil)50.6748.2
EBITDA ($mil)15.915.56
EBIT ($mil)13.7414.4
Net Income ($mil)8.759.1


Balance Sheet Q3 FY16 Q3 FY15
Cash & Equiv. ($mil)45.845.98
Total Assets ($mil)254.95179.32
Total Debt ($mil)59.10.0
Equity ($mil)168.85163.93


Profitability Q3 FY16 Q3 FY15
Gross Profit Margin69.2165.33
EBITDA Margin31.3832.27
Operating Margin27.1229.87
Sales Turnover0.771.08
Return on Assets13.819.66
Return on Equity20.8421.5
Debt Q3 FY16 Q3 FY15
Current Ratio6.278.88
Debt/Capital0.260.0
Interest Expense0.430.0
Interest Coverage32.180.0


Share Data Q3 FY16 Q3 FY15
Shares outstanding (mil)42.0841.71
Div / share0.20.2
EPS0.210.22
Book value / share4.013.93
Institutional Own % n/a n/a
Avg Daily Volume209679.0218687.0

Valuation


BUY. The current P/E ratio indicates a significant discount compared to an average of 44.20 for the Health Care Equipment & Supplies industry and a value on par with the S&P 500 average of 25.19. For additional comparison, its price-to-book ratio of 4.92 indicates a significant premium versus the S&P 500 average of 2.82 and a discount versus the industry average of 5.05. The price-to-sales ratio is well above the S&P 500 average, but well below the industry average. Upon assessment of these and other key valuation criteria, MERIDIAN BIOSCIENCE INC proves to trade at a discount 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
VIVO 23.77 Peers 44.20   VIVO 22.09 Peers 28.91

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

VIVO is trading at a significant discount to its peers.

 

Discount. 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.

VIVO is trading at a discount to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
VIVO 21.45 Peers 25.07   VIVO 20.32 Peers 0.84

Average. An average price-to-projected earnings ratio can signify an industry neutral stock price and average future growth expectations.

VIVO is trading at a valuation on par with its peers.

 

Premium. 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.

VIVO trades at a significant premium to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
VIVO 4.92 Peers 5.05   VIVO -2.36 Peers 23.13

Average. 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.

VIVO is trading at a valuation on par with its peers.

 

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

However, VIVO 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
VIVO 4.23 Peers 14.71   VIVO 0.87 Peers 18.35

Discount. 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.

VIVO is trading at a significant discount to its industry on this measurement.

 

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

VIVO significantly trails its peers on the basis of sales growth

 

 

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