Haemonetics Corp

Health Care
Medical/Dental Instruments
www.haemonetics.com

Earnings Score
Moat Score
Safety Score

Market Cap $4.09B
PE 33
Debt $1.22B
Cash $299.28M
EV $5.02B
FCF $37.88M

Earnings

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Sales & Net Margins

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Earnings	$123.81M
EBIT	$167.37M
ROE	14%
ROA	7%
FCF	$37.88M
Equity	$878.85M
Growth Stability	62%
PE	33.04
PEG	2.48
PB	4.65
P/FCF	108
P/S	3
Price/Cash	0.07
Debt/Equity	1.39
Debt/FCF	32.34
Net Margins	11%
Gross Margins	53%
Op. Margins	12%
Earnings CAGR	31%
Sales Growth YoY	9%
Sales Growth QoQ	3%
Sales CAGR	4%
FCF CAGR	7%
Equity CAGR	1%
Earnings Stability	0.49
Earnings Growth YoY	36%
Earnings Growth QoQ	-12%

Earnings CAGR 5Y	13%
Sales CAGR 5Y	10%
FCF CAGR 5Y	3%
Equity CAGR 5Y	10%
Earnings CAGR 3Y	14%
Sales CAGR 3Y	14%
FCF CAGR 3Y	7%
Equity CAGR 3Y	10%
Market Cap	$4.09B
Revenue	$1.36B
Assets	$2.53B
Total Debt	$1.22B
Cash	$299.28M
Shares Outstanding	50.38M
EV	5.02B
Earnings Score	77%
Moat Score	88%
Safety Score	60%
Final Score	75%
Working Capital	681.96M
Current Ratio	3.49
Gross Profit	$716.13M
Shares Growth 3y	-0%
Equity Growth QoQ	-3%
Equity Growth YoY	-2%

Assets & ROA

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Stockholders Equity & ROE

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Haemonetics Corp sells products used to process, handle, and analyze blood. The firm sells products in three categories: Plasma, Blood Center and Hospital. Plasma includes plasma collection devices and disposables, plasma donor management software, and anticoagulant and saline sold to plasma customers. Blood Center includes blood collection and processing devices and disposables for red cells, platelets and whole blood. Hospital, which is comprised of Hemostasis Management, Cell Salvage, Transfusion Management and Vascular Closure products, includes devices and methodologies for measuring coagulation characteristics of blood, surgical blood salvage systems, specialized blood cell processing systems and disposables, blood transfusion management software and vascular closure devices.

SEC Filings

Direct access to Haemonetics Corp (HAE) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 28
- 10-Q Jun 29
- 10-K Mar 30
2023
- 10-Q Dec 30
- 10-Q Sep 30
- 10-Q Jul 01
- 10-K Apr 01
2022
- 10-Q Dec 31
- 10-Q Oct 01
- 10-Q Jul 02
- 10-K Apr 02
- 10-Q Jan 01

Sector Comparison

How does Haemonetics Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Haemonetics Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 31%

Stability 49%

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Haemonetics Corp Discounted Cash Flow

Fully customizable DCF calculator online for Haemonetics Corp.

Years

Calculation mode

= $631M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$38M	$41M	$44M	$47M	$50M	$54M	$58M	$62M	$67M	$72M	$77M	$773M
DCF		$37M	$36M	$35M	$34M	$34M	$33M	$32M	$31M	$31M	$30M	$298M
Value	$631M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	03/2015	04/2016	03/2017	03/2018	03/2019	03/2020	04/2021	04/2022	03/2023	03/2024	TTM
Net Margins	2%	-6%	-3%	5%	6%	8%	9%	4%	10%	9%	11%
ROA	-	-3%	-2%	5%	7%	8%	5%	4%	8%	8%	7%
ROE	-	-8%	-4%	6%	8%	13%	11%	6%	14%	12%	14%

Good Net Margins (10.59%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	03/2015	04/2016	03/2017	03/2018	03/2019	03/2020	04/2021	04/2022	03/2023	03/2024	TTM
Debt over FCF	-	23.22	4.51	1.74	8.68	3.49	9.86	10.21	4.7	7	32.34
Debt over Equity	0.55	0.63	0.51	0.34	0.52	0.65	0.97	1.03	0.94	0.84	1.39
Growth Stability	-	-	-	-	-	100%	100%	62%	100%	100%	62%

Bad Debt/FCF ratio (32.34)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Neutral Debt/Equity ratio (1.39)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (62%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	03/2015	04/2016	03/2017	03/2018	03/2019	03/2020	04/2021	04/2022	03/2023	03/2024	CAGR 5Y
Revenue YoY growth	-	-0%	-2%	2%	7%	2%	-12%	14%	18%	12%	10%
Earnings YoY growth	-	-429%	-53%	-273%	21%	39%	4%	-45%	166%	2%	13%
Equity YoY growth	-	-13%	3%	2%	-11%	-12%	25%	2%	9%	17%	10%
FCF YoY growth	-	292%	330%	74%	-72%	171%	-34%	6%	115%	-29%	3%