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Medistim

OB:MEDI
Snowflake Description

Flawless balance sheet with outstanding track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MEDI
OB
NOK3B
Market Cap
  1. Home
  2. NO
  3. Healthcare
Company description

Medistim ASA develops, produces, services, leases, and distributes medical devices for cardio-vascular surgery in the United States, Europe, Asia, and internationally. The last earnings update was 25 days ago. More info.


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MEDI Share Price and Events
7 Day Returns
-2.4%
OB:MEDI
-1.7%
Europe Medical Equipment
2.6%
NO Market
1 Year Returns
106%
OB:MEDI
3.4%
Europe Medical Equipment
-9.1%
NO Market
MEDI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Medistim (MEDI) -2.4% 10.8% 27.1% 106% 148.5% 619.3%
Europe Medical Equipment -1.7% 1.2% 2.7% 3.4% 57.5% 93%
NO Market 2.6% 8% 2.6% -9.1% 31.3% 13.2%
1 Year Return vs Industry and Market
  • MEDI outperformed the Medical Equipment industry which returned 3.4% over the past year.
  • MEDI outperformed the Market in Norway which returned -9.1% over the past year.
Price Volatility
MEDI
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Medistim 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 Medistim 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 Medistim.

OB:MEDI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.2%
Perpetual Growth Rate 10-Year NO Government Bond Rate 1.8%

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 OB:MEDI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NO Govt Bond Rate 1.8%
Equity Risk Premium S&P Global 6%
Medical Equipment Unlevered Beta Simply Wall St/ S&P Global 0.86
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.856 (1 + (1- 23%) (0.25%))
0.905
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.9
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.76% + (0.905 * 5.96%)
7.15%

Discounted Cash Flow Calculation for OB:MEDI using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Medistim 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.

OB:MEDI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (NOK, Millions) Source Present Value
Discounted (@ 7.15%)
2020 61.00 Analyst x1 56.93
2021 70.00 Analyst x1 60.97
2022 76.57 Est @ 9.38% 62.24
2023 82.00 Est @ 7.1% 62.21
2024 86.51 Est @ 5.49% 61.24
2025 90.29 Est @ 4.37% 59.66
2026 93.53 Est @ 3.59% 57.67
2027 96.38 Est @ 3.04% 55.46
2028 98.94 Est @ 2.66% 53.13
2029 101.30 Est @ 2.39% 50.77
Present value of next 10 years cash flows NOK580.00
OB:MEDI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NOK101.30 × (1 + 1.76%) ÷ (7.15% – 1.76%)
NOK1,912.00
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NOK1,912.00 ÷ (1 + 7.15%)10
NOK958.33
OB:MEDI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NOK580.00 + NOK958.33
NOK1,538.33
Equity Value per Share
(NOK)
= Total value / Shares Outstanding
= NOK1,538.33 / 18.19
NOK84.58
OB:MEDI Discount to Share Price
Calculation Result
Value per share (NOK) From above. NOK84.58
Current discount Discount to share price of NOK164.00
= -1 x (NOK164.00 - NOK84.58) / NOK84.58
-93.9%

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

  • The current share price of Medistim is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Medistim's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Medistim's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:MEDI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in NOK NOK4.02
OB:MEDI Share Price ** OB (2019-09-13) in NOK NOK164
Europe Medical Equipment Industry PE Ratio Median Figure of 59 Publicly-Listed Medical Equipment Companies 31.48x
Norway Market PE Ratio Median Figure of 149 Publicly-Listed Companies 13.32x

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

** Primary Listing of Medistim.

OB:MEDI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:MEDI Share Price ÷ EPS (both in NOK)

= 164 ÷ 4.02

40.84x

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

  • Medistim is overvalued based on earnings compared to the Europe Medical Equipment industry average.
  • Medistim is overvalued based on earnings compared to the Norway market.
Price based on expected Growth
Does Medistim's expected growth come at a high price?
Raw Data
OB:MEDI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 40.84x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
15.1%per year
Europe Medical Equipment Industry PEG Ratio Median Figure of 42 Publicly-Listed Medical Equipment Companies 2.16x
Norway Market PEG Ratio Median Figure of 110 Publicly-Listed Companies 0.72x

*Line of best fit is calculated by linear regression .

OB:MEDI PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 40.84x ÷ 15.1%

2.71x

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

  • Medistim is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Medistim's assets?
Raw Data
OB:MEDI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in NOK NOK11.13
OB:MEDI Share Price * OB (2019-09-13) in NOK NOK164
Europe Medical Equipment Industry PB Ratio Median Figure of 160 Publicly-Listed Medical Equipment Companies 3.62x
Norway Market PB Ratio Median Figure of 238 Publicly-Listed Companies 1.13x
OB:MEDI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:MEDI Share Price ÷ Book Value per Share (both in NOK)

= 164 ÷ 11.13

14.74x

* Primary Listing of Medistim.

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

  • Medistim is overvalued based on assets compared to the Europe Medical Equipment industry average.
X
Value checks
We assess Medistim'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 Medical Equipment 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 Medical Equipment industry average (and greater than 0)? (1 check)
  5. Medistim has a total score of 0/6, 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.

Future Performance

 How is Medistim expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
15.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Medistim expected to grow at an attractive rate?
  • Medistim's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
  • Medistim's earnings growth is positive but not above the Norway market average.
  • Medistim's revenue growth is expected to exceed the Norway market average.
Annual Growth Rates Comparison
Raw Data
OB:MEDI Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:MEDI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 15.1%
OB:MEDI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 15.8%
Europe Medical Equipment Industry Earnings Growth Rate Market Cap Weighted Average 20.3%
Europe Medical Equipment Industry Revenue Growth Rate Market Cap Weighted Average 7.1%
Norway Market Earnings Growth Rate Market Cap Weighted Average 15.1%
Norway Market Revenue Growth Rate Market Cap Weighted Average 4%

*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
OB:MEDI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OB:MEDI Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 531 87 106 1
2020-12-31 476 76 92 1
2019-12-31 401 51 79 1
2019-09-14
OB:MEDI Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-06-30 355 74 73
2019-03-31 338 60 64
2018-12-31 323 56 57
2018-09-30 305 66 46
2018-06-30 303 61 48
2018-03-31 296 54 45
2017-12-31 296 62 48
2017-09-30 281 41 41
2017-06-30 274 36 39
2017-03-31 272 45 41
2016-12-31 263 30 39
2016-09-30 274 35 45

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Medistim's earnings are expected to grow by 15.1% yearly, however this is not considered high growth (20% yearly).
  • Medistim's revenue is expected to grow by 15.8% yearly, however this is not considered high growth (20% yearly).
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
OB:MEDI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Medistim Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:MEDI Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 5.83 5.83 5.83 1.00
2020-12-31 5.06 5.06 5.06 1.00
2019-12-31 4.35 4.35 4.35 1.00
2019-09-14
OB:MEDI Past Financials Data
Date (Data in NOK Millions) EPS *
2019-06-30 4.02
2019-03-31 3.50
2018-12-31 3.14
2018-09-30 2.51
2018-06-30 2.64
2018-03-31 2.49
2017-12-31 2.62
2017-09-30 2.25
2017-06-30 2.13
2017-03-31 2.28
2016-12-31 2.15
2016-09-30 2.51

*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.
  • Medistim is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Medistim'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Medistim 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.

Past Performance

  How has Medistim 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 Medistim's growth in the last year to its industry (Medical Equipment).
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.
  • Medistim's year on year earnings growth rate has been positive over the past 5 years.
  • Medistim's 1-year earnings growth exceeds its 5-year average (52% vs 14.5%)
  • Medistim's earnings growth has exceeded the Europe Medical Equipment industry average in the past year (52% vs 6.6%).
Earnings and Revenue History
Medistim'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 Medistim Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:MEDI Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 355.19 73.02 113.16
2019-03-31 337.61 63.58 110.34
2018-12-31 323.01 57.06 106.10
2018-09-30 304.79 45.64 98.34
2018-06-30 302.87 48.03 102.35
2018-03-31 295.83 45.16 100.66
2017-12-31 296.05 47.57 99.29
2017-09-30 281.28 40.94 97.88
2017-06-30 273.52 38.75 94.20
2017-03-31 271.53 41.45 93.75
2016-12-31 262.67 39.10 90.73
2016-09-30 273.79 45.48 88.43
2016-06-30 267.50 44.57 86.45
2016-03-31 257.56 42.52 83.28
2015-12-31 249.97 40.42 79.74
2015-09-30 242.33 39.25 79.46
2015-06-30 232.69 36.76 76.04
2015-03-31 223.30 33.45 73.47
2014-12-31 214.25 31.25 71.39
2014-09-30 200.27 27.95 66.75
2014-06-30 192.59 24.47 65.44
2014-03-31 193.68 25.99 65.69
2013-12-31 190.33 26.54 64.06
2013-09-30 186.75 20.39 64.96
2013-06-30 187.44 31.58 64.68
2013-03-31 182.43 29.72 63.09
2012-12-31 181.97 30.25 62.48
2012-09-30 173.21 30.77 60.27

*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.
  • Medistim has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Medistim used its assets more efficiently than the Europe Medical Equipment industry average last year based on Return on Assets.
  • Medistim has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Medistim'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 Medical Equipment 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.
Medistim has a total score of 6/6, 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.

Health

 How is Medistim'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 Medistim's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Medistim is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Medistim's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Medistim'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 22.8x 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 Medistim Company Filings, last reported 2 months ago.

OB:MEDI Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 202.44 7.56 28.67
2019-03-31 223.56 7.66 54.35
2018-12-31 206.71 10.50 47.49
2018-09-30 180.29 8.25 35.66
2018-06-30 168.63 8.06 20.81
2018-03-31 191.02 8.81 56.08
2017-12-31 182.98 15.38 54.41
2017-09-30 169.20 11.25 27.72
2017-06-30 156.65 12.00 19.86
2017-03-31 178.45 0.00 41.87
2016-12-31 166.71 5.63 31.07
2016-09-30 159.15 3.66 21.73
2016-06-30 148.28 3.75 18.23
2016-03-31 165.71 9.30 43.28
2015-12-31 156.16 11.04 48.93
2015-09-30 142.67 12.80 35.70
2015-06-30 131.87 9.23 28.44
2015-03-31 146.03 9.27 51.28
2014-12-31 139.10 18.13 49.48
2014-09-30 127.03 12.79 33.65
2014-06-30 119.36 14.57 27.21
2014-03-31 126.71 4.15 20.62
2013-12-31 121.64 8.31 19.85
2013-09-30 114.98 0.00 16.94
2013-06-30 110.36 0.00 11.96
2013-03-31 120.88 0.00 27.93
2012-12-31 115.17 0.00 26.68
2012-09-30 113.59 0.00 22.36
  • Medistim's level of debt (3.7%) 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 (12.2% vs 3.7% today).
  • Debt is well covered by operating cash flow (983.2%, greater than 20% of total debt).
  • Medistim earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Medistim'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. Medistim 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.

Dividends

 What is Medistim'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
1.37%
Current annual income from Medistim dividends. Estimated to be 1.58% next year.
If you bought NOK2,000 of Medistim shares you are expected to receive NOK27 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?
  • Medistim's pays a lower dividend yield than the bottom 25% of dividend payers in Norway (2.49%).
  • Medistim's dividend is below the markets top 25% of dividend payers in Norway (6.47%).
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
OB:MEDI 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 1 Analyst Estimates (S&P Global) See Below
Europe Medical Equipment Industry Average Dividend Yield Market Cap Weighted Average of 40 Stocks 1.5%
Norway Market Average Dividend Yield Market Cap Weighted Average of 115 Stocks 4.5%
Norway Minimum Threshold Dividend Yield 10th Percentile 1.5%
Norway Bottom 25% Dividend Yield 25th Percentile 2.5%
Norway Top 25% Dividend Yield 75th Percentile 6.5%

Industry and Market average data is calculated daily.

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

OB:MEDI Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 2.75 1.00
2020-12-31 2.64 1.00
2019-12-31 2.36 1.00
2019-09-14
OB:MEDI Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-03-15 2.250 1.722
2019-02-27 2.250 2.351
2018-02-15 2.000 2.598
2017-03-29 1.750 2.404
2017-02-17 1.750 2.602
2016-04-19 1.650 2.577
2015-03-09 1.400 3.142
2015-02-26 1.400 3.870
2014-04-14 0.800 3.215
2014-02-20 0.800 3.483
2013-02-28 1.100 4.837
2012-03-29 1.000 5.243
2011-04-29 0.900 4.172
2010-04-30 0.750 3.333
2009-04-29 0.600 2.741
2008-10-29 0.500 3.151

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

  • Medistim is not paying a notable dividend for Norway, therefore no need to check if the payments are stable.
  • Medistim is not paying a notable dividend for Norway, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Medistim's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Medistim's dividends as it is not paying a notable one for Norway.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Medistim's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - 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 Medistim afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Medistim 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.

Management

 What is the CEO of Medistim'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.
CEO
Kari Krogstad
COMPENSATION NOK4,363,228
AGE 55
TENURE AS CEO 10 years
CEO Bio

Mrs. Kari Eian Krogstad has been the Chief Executive Officer of Medistim ASA since September 1, 2009 and serves as its President. Mrs. Krogstad served as Vice President of Molecular Systems at Life Technologies AS. She served as the Chief Executive Officer of Invitrogen Dynal. She has an extensive background from various senior management positions within marketing, business development and management in Nycomed and Dynal. She serves as Director of LillestrømBanken. She has been a Director of Lillestrøm Sparebank since 2012. Mrs. Krogstad served as Director of PhotoCure ASA since April 26, 2007. Mrs. Krogstad holds a M.Sc. degree in Molecular Biology from the University of Oslo as well as a Marketing degree from IHM Business School.

CEO Compensation
  • Kari's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Kari's remuneration is about average for companies of similar size in Norway.
Management Team Tenure

Average tenure and age of the Medistim management team in years:

9.1
Average Tenure
55
Average Age
  • The average tenure for the Medistim management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Kari Krogstad

TITLE
CEO & President
COMPENSATION
NOK4M
AGE
55
TENURE
10 yrs

Thomas Jakobsen

TITLE
Chief Financial Officer
COMPENSATION
NOK2M
AGE
50

Hæge Wetterhus

TITLE
Vice President of Marketing
COMPENSATION
NOK1M
AGE
55
TENURE
9.1 yrs

Roger Morberg

TITLE
Vice President of Sales
COMPENSATION
NOK2M
AGE
55
TENURE
9.1 yrs

Ole Robsrud

TITLE
CEO of Medistim Norge AS & MD of Medistim Norge AS
COMPENSATION
NOK1M

Mike Farbelow

TITLE
President of Medistim USA Inc
COMPENSATION
NOK3M

Rigmor Blix

TITLE
Quality Manager
COMPENSATION
NOK783K
AGE
67
Board of Directors Tenure

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

6.4
Average Tenure
60
Average Age
  • The tenure for the Medistim board of directors is about average.
Board of Directors

Øyvin Brøymer

TITLE
Chairman
AGE
71
TENURE
19.7 yrs

Bjørn Wiggen

TITLE
Deputy Chairman
AGE
60
TENURE
5.7 yrs

Lars Rønn

TITLE
Director
AGE
55
TENURE
7.7 yrs

Siri Fürst

TITLE
Director
AGE
61
TENURE
6.4 yrs

Tove Raanes

TITLE
Director
AGE
42
TENURE
5.7 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 (NOK) Value (NOK)
28. Feb 19 Sell Helge Børslid Individual 28. Feb 19 28. Feb 19 -1,000 NOK92.00 NOK-92,000
14. Dec 18 Sell Anne Waaler Individual 14. Dec 18 14. Dec 18 -139 NOK63.14 NOK-8,776
13. Dec 18 Sell Anne Waaler Individual 13. Dec 18 13. Dec 18 -610 NOK64.00 NOK-39,040
X
Management checks
We assess Medistim'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. Medistim 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.

News

Simply Wall St News

How Does Medistim's (OB:MEDI) P/E Compare To Its Industry, After Its Big Share Price Gain?

Assuming no other changes, a sharply higher share price makes a stock less attractive to potential buyers. … One way to gauge market expectations of a stock is to look at its Price to Earnings Ratio (PE Ratio). … Since Medistim holds net cash of kr21m, it can spend on growth, justifying a higher P/E ratio than otherwise.

Simply Wall St -

Brief Commentary On Medistim ASA's (OB:MEDI) Fundamentals

In the case of MEDI, it is a financially-healthy company with a strong history and a excellent future outlook. … For those interested in understanding where the figures come from and want to see the analysis, take a look at the report on Medistim here.Flawless balance sheet with outstanding track record Over the past year, MEDI has grown its earnings by 52%, with its most recent figure exceeding its annual average over the past five years. … OB:MEDI Past and Future Earnings, September 2nd 2019 MEDI is financially robust, with ample cash on hand and short-term investments to meet upcoming liabilities.

Simply Wall St -

I Ran A Stock Scan For Earnings Growth And Medistim (OB:MEDI) Passed With Ease

In contrast to all that, I prefer to spend time on companies like Medistim (OB:MEDI), which has not only revenues, but also profits. … Loss-making companies are always racing against time to reach financial sustainability, but time is often a friend of the profitable company, especially if it is growing. … See our latest analysis for Medistim How Quickly Is Medistim Increasing Earnings Per Share?

Simply Wall St -

Medistim ASA (OB:MEDI) Earns Among The Best Returns In Its Industry

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Medistim: 0.35 = kr80m ÷ (kr286m - kr54m) (Based on the trailing twelve months to March 2019.) So, Medistim has an ROCE of 35%. … The Bottom Line On Medistim's ROCE With low current liabilities and a high ROCE, Medistim could be worthy of further investigation.

Simply Wall St -

Is Medistim (OB:MEDI) Using Too Much Debt?

Finally, a business needs free cash flow to pay off debt; accounting profits just don't cut it. … Medistim may have net cash on the balance sheet, but it is still interesting to look at how well the business converts its earnings before interest and tax (EBIT) to free cash flow, because that will influence both its need for, and its capacity to manage debt. … If you're interested in investing in businesses that can grow profits without the burden of debt, then check out this free list of growing businesses that have net cash on the balance sheet.

Simply Wall St -

Does Medistim ASA's (OB:MEDI) June Stock Price Reflect Its Future Growth?

Medistim ASA (OB:MEDI) is considered a high growth stock. … This illustrates that Medistim is overvalued compared to the NO market average ratio of 12.88x , and overvalued based on current earnings compared to the Medical Equipment industry average of 32.64x. … This tells us that when we include its growth in our analysis Medistim's stock can be considered overvalued , based on fundamental analysis.

Simply Wall St -

Here's What Medistim ASA's (OB:MEDI) P/E Is Telling Us

The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Medistim: P/E of 37.46 = NOK131 ÷ NOK3.5 (Based on the trailing twelve months to March 2019.) Is A High Price-to-Earnings Ratio Good? … OB:MEDI Price Estimation Relative to Market, June 13th 2019 Its relatively high P/E ratio indicates that Medistim shareholders think it will perform better than other companies in its industry classification. … Since Medistim holds net cash of øre47m, it can spend on growth, justifying a higher P/E ratio than otherwise.

Simply Wall St -

Does The Data Make Medistim ASA (OB:MEDI) An Attractive Investment?

Flawless balance sheet with outstanding track record MEDI delivered a bottom-line expansion of 41% in the prior year, with its most recent earnings level surpassing its average level over the last five years. … OB:MEDI Past and Future Earnings, June 3rd 2019 MEDI's ability to maintain an adequate level of cash to meet upcoming liabilities is a good sign for its financial health. … Dividend Income vs Capital Gains: Does MEDI return gains to shareholders through reinvesting in itself and growing earnings, or redistribute a decent portion of earnings as dividends?

Simply Wall St -

Where Medistim ASA (OB:MEDI) Stands In Terms Of Earnings Growth Against Its Industry

Examining Medistim ASA's (OB:MEDI) past track record of performance is a valuable exercise for investors. … Below, I will assess MEDI's latest performance announced on 31 March 2019 and weigh these figures against its longer term trend and industry movements. … Check out our latest analysis for Medistim Commentary On MEDI's Past Performance MEDI's trailing twelve-month earnings (from 31 March 2019) of øre64m has jumped 41% compared to the previous year.

Simply Wall St -

Imagine Holding Medistim (OB:MEDI) Shares While The Price Zoomed 438% Higher

For example, the Medistim ASA (OB:MEDI) share price is up a whopping 438% in the last half decade, a handsome return for long term holders. … Over half a decade, Medistim managed to grow its earnings per share at 19% a year. … When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return.

Simply Wall St -

Company Info

Description

Medistim ASA develops, produces, services, leases, and distributes medical devices for cardio-vascular surgery in the United States, Europe, Asia, and internationally. The company operates through three segments: Lease of Equipment, Capital and Consumable Sales, and Distribution and Sales of Third Party Products. It offers MiraQ Cardiac, a system that combines ultrasound imaging and transit time flow measurement (TTFM) in a single system for cardiac surgery; MiraQ Vascular, a system that combines ultrasound imaging and transit TTFM in a single system for vascular surgery; imaging probes for intraoperative use; VeriQ C, a system that combines ultrasound imaging and TTFM in a single system for cardiovascular procedures; and VeriQ that offers TTFM and doppler velocity measurements for intraoperative blood flow and graft patency verification. The company also provides various flow probes, such as QuickFit TTFM probes to accurately measure blood volume flow intraoperatively in various range of surgical applications; Vascular TTFM probes for enhancing surgical outcomes; and doppler probes that are used on the surface of the heart/vessel to search for intramural coronary arteries or to locate the position and quantify the degree of a stenosis. In addition, it distributes and sells third party medical equipment. Medistim ASA was founded in 1984 and is headquartered in Oslo, Norway.

Details
Name: Medistim ASA
MEDI
Exchange: OB
Founded: 1984
NOK2,982,969,104
18,188,836
Website: http://www.medistim.com
Address: Medistim ASA
Økernveien 94,
Oslo,
Oslo, 0579,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB MEDI Ordinary Shares Oslo Bors NO NOK 28. May 2004
DB MD1 Ordinary Shares Deutsche Boerse AG DE EUR 28. May 2004
LSE 0OCD Ordinary Shares London Stock Exchange GB NOK 28. May 2004
BATS-CHIXE MEDIO Ordinary Shares BATS 'Chi-X Europe' GB NOK 28. May 2004
Number of employees
Current staff
Staff numbers
105
Medistim employees.
Industry
Health Care Equipment
Healthcare
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/14 20:35
End of day share price update: 2019/09/13 00:00
Last estimates confirmation: 2019/08/21
Last earnings filing: 2019/08/20
Last earnings reported: 2019/06/30
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.