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Quarterhill

TSX:QTRH
Snowflake Description

Flawless balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
QTRH
TSX
CA$225M
Market Cap
  1. Home
  2. CA
  3. Tech
Company description

Quarterhill Inc. focuses on acquisition and management of technology companies that provides products and services worldwide. The last earnings update was 81 days ago. More info.


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QTRH Share Price and Events
7 Day Returns
14%
TSX:QTRH
0.6%
CA Communications
-5.3%
CA Market
1 Year Returns
63.2%
TSX:QTRH
0.7%
CA Communications
-1.6%
CA Market
QTRH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Quarterhill (QTRH) 14% 27.5% 19.3% 63.2% -5.1% -39.6%
CA Communications 0.6% 5.5% 4.9% 0.7% -10.1% -34.1%
CA Market -5.3% -4.2% 0.3% -1.6% -11.9% -4.2%
1 Year Return vs Industry and Market
  • QTRH outperformed the Communications industry which returned 0.7% over the past year.
  • QTRH outperformed the Market in Canada which returned -1.6% over the past year.
Price Volatility
QTRH
Industry
5yr Volatility vs Market
Related Companies

QTRH Value

 Is Quarterhill undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Quarterhill to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Quarterhill.

TSX:QTRH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.4%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:QTRH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 5.4%
Communications Unlevered Beta Simply Wall St/ S&P Global 1.11
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.107 (1 + (1- 26.5%) (4.46%))
1.096
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (1.096 * 5.44%)
7.4%

Discounted Cash Flow Calculation for TSX:QTRH using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Quarterhill is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

TSX:QTRH DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.4%)
2020 18.80 Analyst x2 17.50
2021 13.10 Analyst x1 11.36
2022 13.40 Analyst x1 10.82
2023 14.10 Analyst x1 10.60
2024 13.24 Est @ -6.08% 9.27
2025 12.74 Est @ -3.82% 8.30
2026 12.45 Est @ -2.24% 7.55
2027 12.31 Est @ -1.14% 6.95
2028 12.26 Est @ -0.36% 6.45
2029 12.29 Est @ 0.18% 6.02
Present value of next 10 years cash flows $94.00
TSX:QTRH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $12.29 × (1 + 1.44%) ÷ (7.4% – 1.44%)
$209.01
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $209.01 ÷ (1 + 7.4%)10
$102.33
TSX:QTRH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $94.00 + $102.33
$196.33
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $196.33 / 118.82
$1.65
TSX:QTRH Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of TSX:QTRH)
1.318
Value per Share
(CAD)
= Value per Share in USD x Exchange Rate (USD/CAD)
= $1.65 x 1.318
CA$2.18
Value per share (CAD) From above. CA$2.18
Current discount Discount to share price of CA$2.04
= -1 x (CA$2.04 - CA$2.18) / CA$2.18
6.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Quarterhill is available for.
Intrinsic value
6%
Share price is CA$2.04 vs Future cash flow value of CA$2.18
Current Discount Checks
For Quarterhill to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Quarterhill's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Quarterhill's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Quarterhill's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Quarterhill's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:QTRH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in USD $-0.13
TSX:QTRH Share Price ** TSX (2020-01-27) in CAD CA$2.04
TSX:QTRH Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.759 $1.55
Canada Communications Industry PE Ratio Median Figure of 6 Publicly-Listed Communications Companies 41.71x
Canada Market PE Ratio Median Figure of 513 Publicly-Listed Companies 15.84x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Quarterhill.

TSX:QTRH PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:QTRH Share Price ÷ EPS (both in USD)

= 1.55 ÷ -0.13

-12.23x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Quarterhill is loss making, we can't compare its value to the CA Communications industry average.
  • Quarterhill is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Quarterhill's expected growth come at a high price?
Raw Data
TSX:QTRH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -12.23x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
30.8%per year
North America Communications Industry PEG Ratio Median Figure of 21 Publicly-Listed Communications Companies 1.55x
Canada Market PEG Ratio Median Figure of 244 Publicly-Listed Companies 1.16x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Quarterhill, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Quarterhill's assets?
Raw Data
TSX:QTRH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in USD $1.74
TSX:QTRH Share Price * TSX (2020-01-27) in CAD CA$2.04
TSX:QTRH Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.759 $1.55
Canada Communications Industry PB Ratio Median Figure of 15 Publicly-Listed Communications Companies 1.32x
Canada Market PB Ratio Median Figure of 2,348 Publicly-Listed Companies 1.38x
TSX:QTRH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:QTRH Share Price ÷ Book Value per Share (both in USD)

= 1.55 ÷ 1.74

0.89x

* Primary Listing of Quarterhill.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Quarterhill is good value based on assets compared to the CA Communications industry average.
X
Value checks
We assess Quarterhill's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Communications industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Communications industry average (and greater than 0)? (1 check)
  5. Quarterhill has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

QTRH Future Performance

 How is Quarterhill expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
30.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Quarterhill expected to grow at an attractive rate?
  • Quarterhill's earnings growth is expected to exceed the low risk savings rate of 1.4%.
Growth vs Market Checks
  • Quarterhill's earnings growth is expected to exceed the Canada market average.
  • Quarterhill's revenues are expected to decrease over the next 1-3 years, this is below the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:QTRH Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:QTRH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 30.8%
TSX:QTRH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts -4.7%
Canada Communications Industry Earnings Growth Rate Market Cap Weighted Average 84.4%
Canada Communications Industry Revenue Growth Rate Market Cap Weighted Average 19.2%
Canada Market Earnings Growth Rate Market Cap Weighted Average 9.8%
Canada Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:QTRH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:QTRH Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 123 1
2022-12-31 114 1
2021-12-31 105 1
2020-12-31 126 28 0 4
2020-01-27
2019-12-31 138 20 8 4
TSX:QTRH Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-09-30 133 21 -15
2019-06-30 127 22 -34
2019-03-31 105 -14 -37
2018-12-31 77 -8 -49
2018-09-30 75 31 -42
2018-06-30 141 50 -6
2018-03-31 139 55 5
2017-12-31 135 70 10
2017-09-30 142 28 31
2017-06-30 73 25 6
2017-03-31 70 30 -1
2016-12-31 93 37 11

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Quarterhill's earnings are expected to grow significantly at over 20% yearly.
  • Quarterhill's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:QTRH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Quarterhill Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:QTRH Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 0.01 0.01 0.00 2.00
2020-01-27
2019-12-31 0.07 0.08 0.05 2.00
TSX:QTRH Past Financials Data
Date (Data in USD Millions) EPS *
2019-09-30 -0.13
2019-06-30 -0.28
2019-03-31 -0.31
2018-12-31 -0.41
2018-09-30 -0.35
2018-06-30 -0.05
2018-03-31 0.05
2017-12-31 0.09
2017-09-30 0.26
2017-06-30 0.05
2017-03-31 -0.01
2016-12-31 0.09

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Quarterhill will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Quarterhill's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Quarterhill has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

QTRH Past Performance

  How has Quarterhill performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Quarterhill's growth in the last year to its industry (Communications).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Quarterhill does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Quarterhill's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Quarterhill's 1-year growth to the North America Communications industry average as it is not currently profitable.
Earnings and Revenue History
Quarterhill's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Quarterhill Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:QTRH Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 132.98 -15.04 26.46 4.52
2019-06-30 127.19 -33.65 26.14 4.20
2019-03-31 105.23 -37.05 26.53 3.81
2018-12-31 77.40 -49.12 26.99 3.57
2018-09-30 74.61 -41.56 27.77 3.79
2018-06-30 140.93 -6.06 27.40 4.38
2018-03-31 139.14 5.41 24.58 4.19
2017-12-31 134.71 10.23 19.93 3.26
2017-09-30 142.27 31.22 15.52 2.16
2017-06-30 72.94 5.66 10.82 0.67
2017-03-31 70.29 -1.10 9.14
2016-12-31 92.88 11.05 9.39
2016-09-30 88.71 5.43 8.57 0.41
2016-06-30 93.58 5.60 8.19 1.00
2016-03-31 112.61 19.71 7.86 1.71
2015-12-31 102.86 10.04 7.46 2.43
2015-09-30 98.94 7.55 8.01 2.59
2015-06-30 102.08 6.34 9.29 2.58
2015-03-31 92.74 0.98 9.88 2.53
2014-12-31 98.31 9.71 10.57 2.42
2014-09-30 105.38 11.63 11.98 2.51
2014-06-30 101.53 5.54 12.43 2.63
2014-03-31 95.82 -7.69 13.24 2.66
2013-12-31 88.21 -18.09 13.07 2.86
2013-09-30 80.22 -22.64 12.03 4.58
2013-06-30 80.79 -14.03 12.17 5.76
2013-03-31 81.64 -6.54 11.69 7.05

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Quarterhill has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Quarterhill has efficiently used its assets last year compared to the CA Communications industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Quarterhill improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Quarterhill's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Communications industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Quarterhill has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

QTRH Health

 How is Quarterhill's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Quarterhill's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Quarterhill is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Quarterhill's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Quarterhill's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 26.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Quarterhill Company Filings, last reported 3 months ago.

TSX:QTRH Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 207.23 3.96 70.02
2019-06-30 199.36 4.75 85.82
2019-03-31 204.55 3.12 51.57
2018-12-31 204.87 3.07 65.07
2018-09-30 227.75 6.10 58.90
2018-06-30 237.64 6.50 69.59
2018-03-31 247.91 4.75 71.62
2017-12-31 254.53 8.17 83.05
2017-09-30 267.67 10.07 37.06
2017-06-30 239.15 24.81 45.51
2017-03-31 235.81 21.84 110.11
2016-12-31 244.14 23.15 107.71
2016-09-30 236.56 24.39 103.22
2016-06-30 238.09 25.61 103.72
2016-03-31 243.07 26.80 101.88
2015-12-31 241.38 27.98 94.55
2015-09-30 239.33 31.27 95.64
2015-06-30 243.15 34.52 114.08
2015-03-31 237.11 39.72 118.45
2014-12-31 245.76 44.88 127.65
2014-09-30 250.13 50.68 126.10
2014-06-30 255.81 68.37 140.09
2014-03-31 253.54 47.74 142.39
2013-12-31 253.11 52.03 131.85
2013-09-30 255.40 52.18 142.27
2013-06-30 268.45 30.38 159.29
2013-03-31 281.76 4.59 167.17
  • Quarterhill's level of debt (1.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (20.2% vs 1.9% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Quarterhill has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Quarterhill has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 24.7% per year.
X
Financial health checks
We assess Quarterhill's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Quarterhill has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

QTRH Dividends

 What is Quarterhill's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.43%
Current annual income from Quarterhill dividends.
If you bought CA$2,000 of Quarterhill shares you are expected to receive CA$49 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Quarterhill's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (1.95%).
  • Quarterhill's dividend is below the markets top 25% of dividend payers in Canada (5.47%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:QTRH Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
North America Communications Industry Average Dividend Yield Market Cap Weighted Average of 17 Stocks 2.9%
Canada Market Average Dividend Yield Market Cap Weighted Average of 335 Stocks 3.4%
Canada Minimum Threshold Dividend Yield 10th Percentile 1%
Canada Bottom 25% Dividend Yield 25th Percentile 2%
Canada Top 25% Dividend Yield 75th Percentile 5.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:QTRH Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2020-01-27
2019-12-31
TSX:QTRH Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-11-07 0.038 2.924
2019-08-08 0.037 2.865
2019-05-09 0.037 3.334
2019-02-28 0.037 3.400
2018-11-08 0.037 3.736
2018-08-09 0.038 2.829
2018-05-10 0.038 3.238
2018-03-01 0.038 2.569
2017-11-09 0.039 2.268
2017-08-10 0.039 2.680
2017-05-04 0.036 2.647
2017-02-10 0.036 1.984
2017-02-09 0.038 2.208
2016-11-03 0.037 2.472
2016-02-08 0.093 5.107
2016-02-04 0.093 7.983
2015-11-05 0.034 3.289
2015-11-04 0.038 2.976
2015-07-30 0.157 8.235
2015-04-29 0.161 7.570
2015-01-29 0.164 6.550
2014-10-30 0.158 5.455
2014-10-29 0.179 5.674
2014-07-30 0.177 5.234
2014-04-30 0.146 4.733
2014-01-30 0.142 4.782
2013-12-05 0.143 4.640
2013-08-08 0.150 4.463
2013-05-08 0.151 3.795
2013-03-08 0.156 3.886
2013-03-06 0.155 3.487
2012-11-06 0.136 3.002
2012-08-02 0.139 2.661
2012-05-09 0.115 2.395
2012-03-07 0.120 2.249
2011-11-09 0.095 1.797
2011-08-04 0.094 1.512
2011-06-06 0.101 1.280
2011-03-02 0.101 1.625
2010-11-09 0.049 0.930
2010-08-10 0.047 1.291
2010-05-07 0.046 1.550
2010-03-03 0.048 1.694
2009-12-10 0.047 1.825
2009-09-03 0.045 2.273
2009-06-04 0.043 2.278

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Quarterhill's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Quarterhill's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Quarterhill afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Quarterhill has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

QTRH Management

 What is the CEO of Quarterhill's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
  • Quarterhill has no CEO, or we have no data on them.
Management Team Tenure

Average tenure of the Quarterhill management team in years:

1.5
Average Tenure
  • The average tenure for the Quarterhill management team is less than 2 years, this suggests a new team.
Management Team

Prashant Watchmaker

TITLE
Senior VP
COMPENSATION
$419K
TENURE
4.8 yrs

Russ Stuebing

TITLE
Senior Vice-President of Corporate Development
COMPENSATION
$530K
AGE
54
TENURE
1.9 yrs

David Cortens

TITLE
Interim Chief Financial Officer
TENURE
0.3 yrs

Neil Urquhart

TITLE
Senior Vice-President of Human Resources

Michael Vladescu

TITLE
President & CEO of New WiLAN
COMPENSATION
$710K
TENURE
0.9 yrs

Randy Hanson

TITLE
President & CEO of International Road Dynamics
TENURE
1.5 yrs
Board of Directors Tenure

Average tenure and age of the Quarterhill board of directors in years:

4.7
Average Tenure
67
Average Age
  • The tenure for the Quarterhill board of directors is about average.
Board of Directors

John Gillberry

TITLE
Independent Chairman
COMPENSATION
$90K
AGE
62
TENURE
0.8 yrs

Jim Skippen

TITLE
Vice Chairman of the Board
COMPENSATION
$728K
AGE
56
TENURE
0.8 yrs

Rick Shorkey

TITLE
Independent Director
COMPENSATION
$94K
AGE
72
TENURE
12.8 yrs

W. McCarten

TITLE
Independent Director
COMPENSATION
$143K
AGE
74
TENURE
9.6 yrs

Roxanne Anderson

TITLE
Independent Director
COMPENSATION
$83K
AGE
58
TENURE
4.7 yrs

Ron Laurie

TITLE
Independent Director
COMPENSATION
$88K
AGE
77
TENURE
4.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
27. Mar 19 Buy Roxanne Anderson Individual 04. Mar 19 04. Mar 19 75,000 CA$1.36 CA$102,000
12. Mar 19 Buy James Skippen Individual 12. Mar 19 12. Mar 19 5,000 CA$1.50 CA$7,500
11. Mar 19 Buy James Skippen Individual 11. Mar 19 11. Mar 19 8,000 CA$1.44 CA$11,520
06. Mar 19 Buy Douglas Parker Individual 06. Mar 19 06. Mar 19 7,000 CA$1.40 CA$9,800
06. Mar 19 Buy James Skippen Individual 06. Mar 19 06. Mar 19 12,600 CA$1.41 CA$17,734
04. Mar 19 Buy James Skippen Individual 04. Mar 19 04. Mar 19 13,000 CA$1.36 CA$17,610
X
Management checks
We assess Quarterhill's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Quarterhill has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

QTRH News

Simply Wall St News

Should You Take Comfort From Insider Transactions At Quarterhill Inc. (TSE:QTRH)?

So we'll take a look at whether insiders have been buying or selling shares in Quarterhill Inc. … See our latest analysis for Quarterhill The Last 12 Months Of Insider Transactions At Quarterhill Independent Director Roxanne Anderson made the biggest insider purchase in the last 12 months. … TSX:QTRH Recent Insider Trading, September 2nd 2019 Insider Ownership of Quarterhill Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own.

Simply Wall St -

Read This Before Buying Quarterhill Inc. (TSE:QTRH) For Its Dividend

Yet sometimes, investors buy a stock for its dividend and lose money because the share price falls by more than they earned in dividend payments. … We struggle to make a case for buying Quarterhill for its dividend, given that payments have shrunk over the past ten years. … Unfortunately, the company has not been able to generate earnings per share growth, and cut its dividend at least once in the past.

Simply Wall St -

We Think Quarterhill (TSE:QTRH) Has Us A Very Heavy Debt Load

TSX:QTRH Historical Debt, July 22nd 2019 A Look At Quarterhill's Liabilities We can see from the most recent balance sheet that Quarterhill had liabilities of US$35.1m falling due within a year, and liabilities of US$6.77m due beyond that. … This surplus strongly suggests that Quarterhill has a rock-solid balance sheet (and the debt is of no concern whatsoever). … Overall, its balance sheet doesn't seem overly risky, at the moment, but we're always cautious until we see the positive free cash flow.

Simply Wall St -

Imagine Owning Quarterhill (TSE:QTRH) While The Price Tanked 56%

View our latest analysis for Quarterhill Given that Quarterhill didn't make a profit in the last twelve months, we'll focus on revenue growth to form a quick view of its business development. … It is important to consider the total shareholder return, as well as the share price return, for any given stock. … We note that for Quarterhill the TSR over the last 5 years was -47%, which is better than the share price return mentioned above.

Simply Wall St -

How Many Quarterhill Inc. (TSE:QTRH) Shares Do Institutions Own?

We can see that Quarterhill does have institutional investors; and they hold 26% of the stock. … Insider Ownership Of Quarterhill The definition of company insiders can be subjective, and does vary between jurisdictions. … General Public Ownership The general public, who are mostly retail investors, collectively hold 74% of Quarterhill shares.

Simply Wall St -

Is Quarterhill Inc. (TSE:QTRH) A Risky Dividend Stock?

Yet sometimes, investors buy a popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. … With Quarterhill yielding 3.3% and having paid a dividend for over 10 years, many investors likely find the company quite interesting. … Some simple analysis can offer a lot of insight when buying a company for its dividend, and we'll go through these below.

Simply Wall St -

The Quarterhill (TSE:QTRH) Share Price Is Down 57% So Some Shareholders Are Wishing They Sold

Quarterhill isn't a profitable company, so it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). … In the last half decade, Quarterhill saw its revenue increase by 2.4% per year. … We'd want to see proof that future revenue growth is likely to be significantly stronger before getting too interested in Quarterhill.

Simply Wall St -

How Many Insiders Bought Quarterhill Inc. (TSE:QTRH) Shares?

Unfortunately, there are also plenty of examples of share prices declining precipitously after insiders have sold shares. … (TSE:QTRH), you may well want to know whether insiders have been buying or selling. … But logic dictates you should pay some attention to whether insiders are buying or selling shares.

Simply Wall St -

Could The Quarterhill Inc. (TSE:QTRH) Ownership Structure Tell Us Something Useful?

Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … Companies that have been privatized tend to have low insider ownership. … institutions own shares in the company.

Simply Wall St -

How Quarterhill Inc (TSE:QTRH) Can Impact Your Portfolio Volatility

Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market. … In comparison a stock with a beta of over one tends to be move in a similar direction to the market in the long term, but with greater changes in price.

Simply Wall St -

QTRH Company Info

Description

Quarterhill Inc. focuses on acquisition and management of technology companies that provides products and services worldwide. Its Licensing segment includes patents relating to 3D television, semiconductor manufacturing and packaging, medical stent, intelligent personal assistant, enhanced image processing, streaming video, non-volatile flash and other memory, semiconductor clocking, LED lighting, and various other technologies; automotive headlight assemblies, phased loop semiconductor licensing, microcontrollers applicable to safety-critical aerospace, computer gaming, CMOS image sensors, building automation, and smart meter monitoring; and medical, industrial, and automotive applications. The company's Intelligent Systems segment provides integrated systems and solutions, such as automated truck weigh stations; toll road systems and equipment; traffic management and safety systems; VectorSense, a tire sensor suite; Vehicle Information-In-Motion, a traffic intelligence system; integrated traffic control systems; permanent and portable slow speed weigh-in-motion systems; portable wheel load scales; traffic data collection products; vehicle and axle detection equipment; and automated vehicle identification, and other hardware and software products for the intelligent transportation systems industry. This segment serves through direct salespeople, distributors, agents, other contractors, and systems integrators. Its Enterprise Software segment provides enterprise asset management software solutions to asset intensive industries through its salesforce over the Internet. Its offerings include WorkAlign, a product suite, which consists of integrated products, such as scheduler, IIoT, mobile for EAM, maintenance budgeting, warranty tracker, and analytics; and consulting services. The company was formerly known as Wi-LAN Inc. and changed its name to Quarterhill Inc. in June 2017. Quarterhill Inc. was incorporated in 1992 and is headquartered in Kitchener, Canada.

Details
Name: Quarterhill Inc.
QTRH
Exchange: TSX
Founded: 1992
CA$224,565,010
118,817,466
Website: http://www.quarterhill.com
Address: Quarterhill Inc.
30 Duke Street West,
Suite 604,
Kitchener,
Ontario, N2H 3W5,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX QTRH Common Shares The Toronto Stock Exchange CA CAD 25. Mar 1998
OTCPK QTRH.F Common Shares Pink Sheets LLC US USD 25. Mar 1998
DB WJL Common Shares Deutsche Boerse AG DE EUR 25. Mar 1998
Number of employees
Current staff
Staff numbers
361
Quarterhill employees.
Industry
Communications Equipment
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/01/27 23:54
End of day share price update: 2020/01/27 00:00
Last estimates confirmation: 2020/01/27
Last earnings filing: 2019/11/07
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.