Loading...

We've got a brand new version of Simply Wall St! Try it out

KVH Industries

Nasdaq:KVHI
Snowflake Description

Excellent balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KVHI
Nasdaq
$179M
Market Cap
  1. Home
  2. US
  3. Tech
Company description

KVH Industries, Inc. designs, develops, manufactures, and markets mobile connectivity products and services for the marine and land mobile markets in the United States and internationally. The last earnings update was 10 days ago. More info.


Add to Portfolio Compare Print
KVHI Share Price and Events
7 Day Returns
-1.9%
NasdaqGS:KVHI
4.7%
US Communications
0.9%
US Market
1 Year Returns
-11.9%
NasdaqGS:KVHI
1.1%
US Communications
10.5%
US Market
KVHI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
KVH Industries (KVHI) -1.9% 1% 9.7% -11.9% 0.1% -23.7%
US Communications 4.7% 5.9% -3.8% 1.1% 42.8% 65.8%
US Market 0.9% 5.2% 5.4% 10.5% 40.1% 45%
1 Year Return vs Industry and Market
  • KVHI underperformed the Communications industry which returned 1.1% over the past year.
  • KVHI underperformed the Market in United States of America which returned 10.5% over the past year.
Price Volatility
KVHI
Industry
5yr Volatility vs Market

Value

 Is KVH Industries 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 KVH Industries 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 KVH Industries.

NasdaqGS:KVHI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.4%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

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 NasdaqGS:KVHI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Communications Unlevered Beta Simply Wall St/ S&P Global 1.13
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.131 (1 + (1- 21%) (5.03%))
1.118
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.12
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.118 * 5.96%)
9.39%

Discounted Cash Flow Calculation for NasdaqGS:KVHI using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for KVH Industries 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.

NasdaqGS:KVHI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.39%)
2020 -6.19 Analyst x2 -5.66
2021 2.51 Analyst x1 2.10
2022 4.41 Est @ 75.58% 3.37
2023 6.77 Est @ 53.72% 4.73
2024 9.38 Est @ 38.42% 5.99
2025 11.98 Est @ 27.72% 6.99
2026 14.40 Est @ 20.22% 7.68
2027 16.55 Est @ 14.97% 8.07
2028 18.42 Est @ 11.3% 8.21
2029 20.03 Est @ 8.73% 8.16
Present value of next 10 years cash flows $49.00
NasdaqGS:KVHI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $20.03 × (1 + 2.73%) ÷ (9.39% – 2.73%)
$308.86
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $308.86 ÷ (1 + 9.39%)10
$125.85
NasdaqGS:KVHI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $49.00 + $125.85
$174.85
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $174.85 / 18.10
$9.66
NasdaqGS:KVHI Discount to Share Price
Calculation Result
Value per share (USD) From above. $9.66
Current discount Discount to share price of $9.91
= -1 x ($9.91 - $9.66) / $9.66
-2.6%

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

  • The current share price of KVH Industries 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 KVH Industries's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are KVH Industries's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:KVHI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in USD $-0.72
NasdaqGS:KVHI Share Price ** NasdaqGS (2019-11-08) in USD $9.91
United States of America Communications Industry PE Ratio Median Figure of 30 Publicly-Listed Communications Companies 24.34x
United States of America Market PE Ratio Median Figure of 2,915 Publicly-Listed Companies 18.21x

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

** Primary Listing of KVH Industries.

NasdaqGS:KVHI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:KVHI Share Price ÷ EPS (both in USD)

= 9.91 ÷ -0.72

-13.72x

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

  • KVH Industries is loss making, we can't compare its value to the US Communications industry average.
  • KVH Industries is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does KVH Industries's expected growth come at a high price?
Raw Data
NasdaqGS:KVHI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -13.72x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
-22.5%per year
United States of America Communications Industry PEG Ratio Median Figure of 19 Publicly-Listed Communications Companies 1.44x
United States of America Market PEG Ratio Median Figure of 2,014 Publicly-Listed Companies 1.47x

*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 KVH Industries, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on KVH Industries's assets?
Raw Data
NasdaqGS:KVHI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in USD $8.38
NasdaqGS:KVHI Share Price * NasdaqGS (2019-11-08) in USD $9.91
United States of America Communications Industry PB Ratio Median Figure of 61 Publicly-Listed Communications Companies 1.85x
United States of America Market PB Ratio Median Figure of 5,041 Publicly-Listed Companies 1.74x
NasdaqGS:KVHI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:KVHI Share Price ÷ Book Value per Share (both in USD)

= 9.91 ÷ 8.38

1.18x

* Primary Listing of KVH Industries.

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

  • KVH Industries is good value based on assets compared to the US Communications industry average.
X
Value checks
We assess KVH Industries'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. KVH Industries 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.

Future Performance

 How is KVH Industries expected to perform in the next 1 to 3 years based on estimates from 5 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
-22.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is KVH Industries expected to grow at an attractive rate?
  • KVH Industries's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • KVH Industries's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • KVH Industries's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:KVHI Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:KVHI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts -22.5%
NasdaqGS:KVHI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 7.2%
United States of America Communications Industry Earnings Growth Rate Market Cap Weighted Average 12%
United States of America Communications Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.2%

*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
NasdaqGS:KVHI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:KVHI Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 190 19 1 1
2020-12-31 173 16 -5 5
2019-12-31 158 -5 10 5
2019-11-10
NasdaqGS:KVHI Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-09-30 173 -8 -13
2019-06-30 172 0 -11
2019-03-31 171 5 -10
2018-12-31 171 5 -8
2018-09-30 152 4 -10
2018-06-30 153 4 -11
2018-03-31 155 6 -11
2017-12-31 160 12 -11
2017-09-30 165 9 -16
2017-06-30 170 17 -11
2017-03-31 176 14 -10
2016-12-31 176 19 -8

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • KVH Industries's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • KVH Industries's revenue is expected to grow by 7.2% 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
NasdaqGS:KVHI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from KVH Industries Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:KVHI Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.07 0.07 0.07 1.00
2020-12-31 -0.28 -0.04 -0.39 5.00
2019-12-31 1.98 1.98 1.98 1.00
2019-11-10
NasdaqGS:KVHI Past Financials Data
Date (Data in USD Millions) EPS *
2019-09-30 -0.72
2019-06-30 -0.65
2019-03-31 -0.59
2018-12-31 -0.48
2018-09-30 -0.62
2018-06-30 -0.66
2018-03-31 -0.64
2017-12-31 -0.67
2017-09-30 -0.99
2017-06-30 -0.67
2017-03-31 -0.60
2016-12-31 -0.47

*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 KVH Industries will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess KVH Industries'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 United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America 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.
KVH Industries has a total score of 0/6, 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 KVH Industries 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 KVH Industries'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.
  • KVH Industries does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare KVH Industries's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare KVH Industries's 1-year growth to the US Communications industry average as it is not currently profitable.
Earnings and Revenue History
KVH Industries'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 KVH Industries Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:KVHI Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 172.83 -12.55 65.72 15.66
2019-06-30 171.99 -11.26 65.21 15.12
2019-03-31 171.39 -10.21 63.95 14.89
2018-12-31 170.76 -8.23 62.87 14.95
2018-09-30 152.33 -10.46 55.74 15.45
2018-06-30 153.47 -10.97 57.57 15.65
2018-03-31 155.28 -10.60 59.91 15.85
2017-12-31 160.09 -11.03 62.83 15.86
2017-09-30 165.04 -16.13 63.02 15.97
2017-06-30 170.44 -10.83 62.02 15.92
2017-03-31 175.95 -9.61 62.73 16.19
2016-12-31 176.12 -7.52 62.11 16.03
2016-09-30 186.21 3.37 64.48 15.10
2016-06-30 184.82 0.04 66.21 14.63
2016-03-31 183.71 0.88 65.76 14.07
2015-12-31 184.63 2.25 65.17 14.04
2015-09-30 181.05 -0.89 63.36 13.97
2015-06-30 180.84 -0.28 62.31 13.78
2015-03-31 176.91 -0.26 59.32 14.18
2014-12-31 172.59 0.04 56.22 14.10
2014-09-30 161.11 -1.28 52.30 14.29
2014-06-30 157.07 -0.05 49.81 14.34
2014-03-31 159.35 1.45 48.46 13.70
2013-12-31 162.29 4.53 47.06 12.99
2013-09-30 162.88 7.66 44.52 12.53
2013-06-30 161.49 8.01 41.41 12.15
2013-03-31 150.31 6.92 38.30 11.96
2012-12-31 137.11 3.58 36.26 12.15

*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 KVH Industries has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if KVH Industries has efficiently used its assets last year compared to the US Communications industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if KVH Industries 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 KVH Industries'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.
KVH Industries 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.

Health

 How is KVH Industries'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 KVH Industries's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • KVH Industries is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • KVH Industries's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of KVH Industries'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 6.495992102519E+16x 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 KVH Industries Company Filings, last reported 1 month ago.

NasdaqGS:KVHI Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 151.67 0.00 55.57
2019-06-30 154.00 2.00 65.36
2019-03-31 95.60 29.34 14.28
2018-12-31 99.52 29.38 18.08
2018-09-30 101.73 42.96 33.24
2018-06-30 102.43 43.60 34.87
2018-03-31 106.83 44.23 41.10
2017-12-31 105.67 47.12 42.92
2017-09-30 105.73 47.77 43.67
2017-06-30 105.34 48.41 44.20
2017-03-31 103.86 49.04 46.13
2016-12-31 106.50 58.21 52.13
2016-09-30 112.05 60.23 53.78
2016-06-30 110.24 61.83 47.45
2016-03-31 114.86 63.40 50.84
2015-12-31 118.18 64.69 45.34
2015-09-30 113.37 66.53 50.22
2015-06-30 115.60 68.06 48.04
2015-03-31 111.09 69.64 49.42
2014-12-31 116.54 70.88 49.80
2014-09-30 115.63 71.49 50.40
2014-06-30 118.14 38.07 54.33
2014-03-31 116.25 38.37 53.71
2013-12-31 116.47 38.70 55.74
2013-09-30 115.59 37.83 57.58
2013-06-30 111.14 38.15 54.32
2013-03-31 108.75 15.61 44.85
2012-12-31 105.70 10.55 38.29
  • KVH Industries's level of debt (0%) 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 (61.8% vs 0% 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.

  • KVH Industries has sufficient cash runway for 2.5 years based on current free cash flow.
  • Unable to confirm if KVH Industries has at least 1 year of cash runway based on growing free cash flows without relevant data.
X
Financial health checks
We assess KVH Industries'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. KVH Industries has a total score of 5/6, 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 KVH Industries'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
0%
Current annual income from KVH Industries dividends.
If you bought $2,000 of KVH Industries shares you are expected to receive $0 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?
  • Unable to evaluate KVH Industries's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate KVH Industries's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
NasdaqGS:KVHI 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 5 Analyst Estimates (S&P Global) See Below
United States of America Communications Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1944 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

NasdaqGS:KVHI Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
2019-11-10

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

  • Unable to perform a dividend volatility check as KVH Industries has not reported any payouts.
  • Unable to verify if KVH Industries's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of KVH Industries's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as KVH Industries has not reported any payouts.
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 KVH Industries's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 KVH Industries afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. KVH Industries has a total score of 0/6, 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 KVH Industries'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
Martin A. Van Heyningen
COMPENSATION $1,337,078
AGE 60
TENURE AS CEO 29.8 years
CEO Bio

Mr. Martin A. Kits Van Heyningen co-founded KVH Industries Inc., in 1977 and also has been its Chief Executive Officer since 1990 and President since 1982. He has been the Chairman at KVH Industries Inc. since August 2, 2007. Mr. van Heyningen served as a Marketing Consultant of the New England Consulting Group, a marketing consulting firm from 1980 to 1982. He has been a Director of KVH Industries Inc. since 1982. Mr. van Heyningen holds a BA degree cum laude from Yale University.

CEO Compensation
  • Martin A.'s compensation has increased whilst company is loss making.
  • Martin A.'s remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the KVH Industries management team in years:

3.3
Average Tenure
56
Average Age
  • The tenure for the KVH Industries management team is about average.
Management Team

Martin A. Van Heyningen

TITLE
Co-Founder
COMPENSATION
$1M
AGE
60
TENURE
29.8 yrs

Don Reilly

TITLE
Chief Financial Officer
COMPENSATION
$622K
AGE
60
TENURE
2.9 yrs

Brent Bruun

TITLE
Chief Operating Officer
COMPENSATION
$726K
AGE
53
TENURE
3.3 yrs

Jennifer Baker

TITLE
VP, Chief Accounting Officer & Corporate Controller
AGE
41
TENURE
3.2 yrs

Robert Balog

TITLE
Chief Technology Officer
COMPENSATION
$529K
AGE
56
TENURE
0.8 yrs

Ed Kershenbaum

TITLE
Chief Information Officer
TENURE
8.8 yrs

Felise Feingold

TITLE
Senior VP
COMPENSATION
$494K
AGE
50
TENURE
12.3 yrs

Elizabeth Jackson

TITLE
Chief Marketing Officer & Senior VP of Strategy
AGE
48
TENURE
2 yrs

Jordan Vargas

TITLE
Vice President of Human Resources
AGE
67
TENURE
2.9 yrs

Daniel Conway

TITLE
Executive Vice President of Inertial Navigation Group
COMPENSATION
$514K
AGE
65
TENURE
7 yrs
Board of Directors Tenure

Average tenure and age of the KVH Industries board of directors in years:

14.3
Average Tenure
69.5
Average Age
  • The average tenure for the KVH Industries board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Martin A. Van Heyningen

TITLE
Co-Founder
COMPENSATION
$1M
AGE
60
TENURE
12.3 yrs

Mark Ain

TITLE
Lead Director
COMPENSATION
$170K
AGE
76
TENURE
7.8 yrs

Bruce Ryan

TITLE
Independent Director
COMPENSATION
$172K
AGE
75
TENURE
16.3 yrs

Jim Dodez

TITLE
Independent Director
COMPENSATION
$100K
AGE
60
TENURE
2.4 yrs

Charles Trimble

TITLE
Independent Director
COMPENSATION
$169K
AGE
77
TENURE
20.8 yrs

Stan Honey

TITLE
Independent Director
COMPENSATION
$166K
AGE
64
TENURE
22.8 yrs
Who owns this company?
Recent Insider Trading
  • KVH Industries individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
03. Oct 19 Sell Donald Reilly Individual 02. Oct 19 02. Oct 19 -294 $9.81 $-2,883
03. Oct 19 Sell Mark Woodhead Individual 02. Oct 19 02. Oct 19 -458 $9.81 $-4,492
03. Oct 19 Sell Jennifer Baker Individual 02. Oct 19 02. Oct 19 -161 $9.81 $-1,579
03. Oct 19 Sell Felise Feingold Individual 02. Oct 19 02. Oct 19 -424 $9.81 $-4,158
03. Oct 19 Sell Elizabeth Jackson Individual 02. Oct 19 02. Oct 19 -240 $9.81 $-2,354
03. Oct 19 Sell Martin A. Van Heyningen Individual 02. Oct 19 02. Oct 19 -1,246 $9.81 $-12,220
03. Oct 19 Sell Daniel Conway Individual 02. Oct 19 02. Oct 19 -250 $9.81 $-2,452
03. Oct 19 Sell Brent Bruun Individual 02. Oct 19 02. Oct 19 -444 $9.81 $-4,354
03. Oct 19 Sell Robert Balog Individual 02. Oct 19 02. Oct 19 -320 $9.81 $-3,138
17. Sep 19 Sell Elizabeth Jackson Individual 16. Sep 19 16. Sep 19 -2,500 $10.11 $-25,251
02. Jul 19 Sell Donald Reilly Individual 01. Jul 19 01. Jul 19 -278 $10.60 $-2,947
02. Jul 19 Sell Mark Woodhead Individual 01. Jul 19 01. Jul 19 -432 $10.60 $-4,580
02. Jul 19 Sell Brent Bruun Individual 01. Jul 19 01. Jul 19 -418 $10.60 $-4,431
02. Jul 19 Sell Jennifer Baker Individual 01. Jul 19 01. Jul 19 -185 $10.60 $-1,961
02. Jul 19 Sell Elizabeth Jackson Individual 01. Jul 19 01. Jul 19 -276 $10.60 $-2,926
02. Jul 19 Sell Robert Balog Individual 01. Jul 19 01. Jul 19 -302 $10.60 $-3,202
02. Jul 19 Sell Daniel Conway Individual 01. Jul 19 01. Jul 19 -236 $10.60 $-2,502
02. Jul 19 Sell Martin A. Van Heyningen Individual 01. Jul 19 01. Jul 19 -1,176 $10.60 $-12,467
02. Jul 19 Sell Felise Feingold Individual 01. Jul 19 01. Jul 19 -400 $10.60 $-4,240
11. Jun 19 Sell Donald Reilly Individual 10. Jun 19 10. Jun 19 -766 $9.40 $-7,203
11. Jun 19 Sell Mark Woodhead Individual 10. Jun 19 10. Jun 19 -859 $9.40 $-8,077
11. Jun 19 Sell Jennifer Baker Individual 10. Jun 19 10. Jun 19 -191 $9.40 $-1,796
11. Jun 19 Sell Felise Feingold Individual 10. Jun 19 10. Jun 19 -1,058 $9.40 $-9,948
11. Jun 19 Sell Brent Bruun Individual 10. Jun 19 10. Jun 19 -905 $9.40 $-8,510
11. Jun 19 Sell Robert Balog Individual 10. Jun 19 10. Jun 19 -978 $9.40 $-9,196
11. Jun 19 Sell Daniel Conway Individual 10. Jun 19 10. Jun 19 -651 $9.40 $-6,121
11. Jun 19 Sell Martin A. Van Heyningen Individual 10. Jun 19 10. Jun 19 -2,676 $9.40 $-25,162
03. Apr 19 Sell Mark Woodhead Individual 02. Apr 19 02. Apr 19 -1,448 $10.08 $-14,599
03. Apr 19 Sell Jennifer Baker Individual 02. Apr 19 02. Apr 19 -182 $10.08 $-1,835
03. Apr 19 Sell Donald Reilly Individual 03. Apr 19 03. Apr 19 -276 $10.13 $-2,796
03. Apr 19 Sell Elizabeth Jackson Individual 02. Apr 19 02. Apr 19 -224 $10.08 $-2,258
03. Apr 19 Sell Felise Feingold Individual 02. Apr 19 02. Apr 19 -177 $10.08 $-1,785
03. Apr 19 Sell Brent Bruun Individual 02. Apr 19 02. Apr 19 -413 $10.08 $-4,164
03. Apr 19 Sell Robert Balog Individual 02. Apr 19 02. Apr 19 -297 $10.08 $-2,994
03. Apr 19 Sell Daniel Conway Individual 02. Apr 19 02. Apr 19 -233 $10.08 $-2,349
03. Apr 19 Sell Martin A. Van Heyningen Individual 02. Apr 19 02. Apr 19 -1,160 $10.08 $-11,695
28. Mar 19 Sell Martin A. Van Heyningen Individual 27. Mar 19 27. Mar 19 -3,293 $10.21 $-33,622
27. Mar 19 Sell Felise Feingold Individual 26. Mar 19 26. Mar 19 -849 $10.08 $-8,558
21. Mar 19 Sell Brent Bruun Individual 21. Mar 19 21. Mar 19 -1,115 $10.72 $-11,953
21. Mar 19 Sell Daniel Conway Individual 21. Mar 19 21. Mar 19 -795 $10.72 $-8,522
20. Mar 19 Sell Robert Balog Individual 19. Mar 19 19. Mar 19 -1,360 $10.70 $-14,552
12. Mar 19 Sell Mark Woodhead Individual 11. Mar 19 11. Mar 19 -1,053 $10.56 $-11,124
12. Mar 19 Sell Felise Feingold Individual 11. Mar 19 11. Mar 19 -1,171 $10.56 $-12,370
12. Mar 19 Sell Brent Bruun Individual 11. Mar 19 11. Mar 19 -1,171 $10.56 $-12,370
12. Mar 19 Sell Daniel Conway Individual 11. Mar 19 11. Mar 19 -1,171 $10.56 $-12,370
12. Mar 19 Sell Robert Balog Individual 11. Mar 19 11. Mar 19 -1,508 $10.56 $-15,931
21. Feb 19 Sell Mark Woodhead Individual 20. Feb 19 20. Feb 19 -2,347 $11.51 $-27,021
21. Feb 19 Sell Donald Reilly Individual 20. Feb 19 20. Feb 19 -1,904 $11.51 $-21,921
21. Feb 19 Sell Felise Feingold Individual 20. Feb 19 20. Feb 19 -1,731 $11.51 $-19,929
21. Feb 19 Sell Robert Balog Individual 20. Feb 19 20. Feb 19 -2,379 $11.51 $-27,389
21. Feb 19 Sell Martin A. Van Heyningen Individual 20. Feb 19 20. Feb 19 -5,166 $11.51 $-59,476
21. Feb 19 Sell Brent Bruun Individual 20. Feb 19 20. Feb 19 -1,731 $11.51 $-19,929
21. Feb 19 Sell Daniel Conway Individual 20. Feb 19 20. Feb 19 -1,731 $11.51 $-19,929
15. Feb 19 Sell Elizabeth Jackson Individual 14. Feb 19 14. Feb 19 -1,764 $11.42 $-20,145
16. Jan 19 Sell Jennifer Baker Individual 15. Jan 19 15. Jan 19 -360 $10.58 $-3,809
16. Jan 19 Sell Martin A. Van Heyningen Individual 15. Jan 19 15. Jan 19 -270 $10.58 $-2,857
11. Jan 19 Sell Jennifer Baker Individual 09. Jan 19 09. Jan 19 -441 $10.80 $-4,763
X
Management checks
We assess KVH Industries'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. KVH Industries 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 KVH Industries, Inc. (NASDAQ:KVHI) Affect Your Portfolio Volatility?

Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … Even when they are traded more actively, the share price is often more susceptible to company specific developments than overall market volatility. … What this means for you: Since KVH Industries is not heavily influenced by market moves, its share price is probably far more dependend on company specific developments.

Simply Wall St -

Would KVH Industries (NASDAQ:KVHI) Might Be Better Off With Less Debt

and every practical investor I know worries about.' So it might be obvious that you need to consider debt, when you think about how risky any given stock is, because too much debt can sink a company. … NasdaqGS:KVHI Historical Debt, August 2nd 2019 How Strong Is KVH Industries's Balance Sheet? … When we look at that and recall the liabilities on its balance sheet, relative to cash, it seems unwise to us for the company to have any debt.

Simply Wall St -

Is KVH Industries, Inc.'s (NASDAQ:KVHI) CEO Pay Fair?

While we always look at total compensation first, we note that the salary component is less, at US$508k. … We examined companies with market caps from US$100m to US$400m, and discovered that the median CEO total compensation of that group was US$1.2m. … So given this relatively weak performance, shareholders would probably not want to see high compensation for the CEO.

Simply Wall St -

What Kind Of Investor Owns Most Of KVH Industries, Inc. (NASDAQ:KVHI)?

Our analysis of the ownership of the company, below, shows that institutional investors have bought into the company. … Check out our latest analysis for KVH Industries NasdaqGS:KVHI Ownership Summary, June 24th 2019 What Does The Institutional Ownership Tell Us About KVH Industries? … NasdaqGS:KVHI Income Statement, June 24th 2019 Institutional investors own over 50% of the company, so together than can probably strongly influence board decisions.

Simply Wall St -

KVH Industries, Inc. (NASDAQ:KVHI): Time For A Financial Health Check

Additionally, KVHI has generated US$5.3m in operating cash flow over the same time period, resulting in an operating cash to total debt ratio of 13%, indicating that KVHI’s current level of operating cash is not high enough to cover debt. … With current liabilities at US$65m, the company has been able to meet these commitments with a current assets level of US$77m, leading to a 1.18x current account ratio. … Next Steps: KVHI’s high cash coverage means that, although its debt levels are high, the company is able to utilise its borrowings efficiently in order to generate cash flow.

Simply Wall St -

Should You Be Worried About Insider Transactions At KVH Industries, Inc. (NASDAQ:KVHI)?

But logic dictates you should pay some attention to whether insiders are buying or selling shares. … In the last twelve months, the biggest single sale by an insider was when the VP, General Counsel, Felise Feingold, sold US$190k worth of shares at a price of US$12.35 per share … While we don't usually like to see insider selling, it's more concerning if the sales take price at a lower price

Simply Wall St -

Introducing KVH Industries (NASDAQ:KVHI), The Stock That Dropped 23% In The Last Five Years

Generally speaking, companies without profits are expected to grow revenue every year, and at a good clip. … Some companies are willing to postpone profitability to grow revenue faster, but in that case one does expect good top-line growth. … Over half a decade KVH Industries reduced its trailing twelve month revenue by 0.07% for each year.

Simply Wall St -

Before You Buy KVH Industries, Inc. (NASDAQ:KVHI), Consider Its Volatility

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.

Simply Wall St -

What Kind Of Shareholder Appears On The KVH Industries, Inc.'s (NASDAQ:KVHI) Shareholder Register?

I generally like to see some degree of insider ownership, even if only a little. … With a market capitalization of US$203m, KVH Industries is a small cap stock, so it might not be well known by many institutional investors. … Taking a look at our data on the ownership groups (below), it's seems that.

Simply Wall St -

What Investors Should Know About KVH Industries, Inc.'s (NASDAQ:KVHI) Financial Strength

(NASDAQ:KVHI) with its market cap of US$190m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

Company Info

Description

KVH Industries, Inc. designs, develops, manufactures, and markets mobile connectivity products and services for the marine and land mobile markets in the United States and internationally. The company offers mobile satellite TV and communications products; two-way satellite communications systems; onboard V-IP terminals and hub equipment; network management hardware and software products for maritime communications; and Iridium OpenPort hardware products and services. It also offers airtime plans that enable customers to obtain Internet and voice services; and value-added, and news and radio content services. In addition, the company provides navigation, guidance, and stabilization products for the commercial and defense markets comprising precision fiber optic gyro-based systems that enable platform and optical stabilization, navigation, pointing, and guidance; tactical navigation systems for tactical trucks and light armored vehicles; and commercial products, such as navigation and positioning systems for various applications consisting of precision mapping, dynamic surveying, autonomous vehicles, train location control and track geometry measurement systems, industrial robotics, and optical stabilization applications. Further, it offers content, maritime news, sporting content, and television programming delivery services; movie distribution services; maritime e-learning content and related services; and services and support for the mini-VSAT Broadband solution. The company sells its mobile communications products through a network of independent retailers, chain stores, distributors, and service providers; and navigation products directly to the United States and foreign governments, and government contractors, as well as through authorized independent sales representatives. The company also sells and leases its products directly to end users. KVH Industries, Inc. was founded in 1978 and is headquartered in Middletown, Rhode Island.

Details
Name: KVH Industries, Inc.
KVHI
Exchange: NasdaqGS
Founded: 1978
$179,337,167
18,096,586
Website: http://www.kvh.com
Address: KVH Industries, Inc.
50 Enterprise Center,
Middletown,
Rhode Island, 02842,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS KVHI Common Stock Nasdaq Global Select US USD 02. Apr 1996
Number of employees
Current staff
Staff numbers
673
KVH Industries employees.
Industry
Communications Equipment
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/10 23:37
End of day share price update: 2019/11/08 00:00
Last estimates confirmation: 2019/10/31
Last earnings filing: 2019/10/31
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.