Electronic Components, NEC
Impinj, Inc. operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual items and delivers data about the connected items to business and consumer applications. The company's platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item. Its platform also consists of systems products that comprise reader ICs, readers, and gateways to wirelessly provide power to and communicate bidirectionally with endpoint ICs on host items, as well as to read, write, authenticate, and engage the endpoint ICs on those items; and software and algorithms that enables its partners to deliver use cases, such as retail self-checkout and loss prevention, and warehouse pallet and package tracking to end-users. The company primarily serves retail, supply chain and logistics, aviation, automotive, healthcare, industrial and manufacturing, sports, consumer experience, food, datacenter, travel, banking, and linen and uniform tracking sectors through distributors, system integrators, value-added resellers, and software solution partners. Impinj, Inc. was incorporated in 2000 and is headquartered in Seattle, Washington.
Sector
Discounted Cash Flow Valuation of Impinj Inc
Growth
%
%
Discount
%
%
Multiple
g\r | +10% | +11% | +12% | +13% | +14% |
---|---|---|---|---|---|
0% | 10 | 9 | 8 | 8 | 7 |
+1% | 11 | 10 | 9 | 8 | 8 |
+2% | 13 | 11 | 10 | 9 | 8 |
+3% | 14 | 13 | 11 | 10 | 9 |
+4% | 17 | 14 | 12 | 11 | 10 |
Years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | TV |
---|---|---|---|---|---|---|---|---|---|---|---|---|
FCF | $20.11M | $26.14M | $33.25M | $41.38M | $50.35M | $59.86M | $69.5M | $78.77M | $87.08M | $93.86M | $98.55M | $985.5M |
DCF | $22.73M | $25.14M | $27.21M | $28.79M | $29.76M | $30.05M | $29.61M | $28.47M | $26.68M | $24.36M | $243.6M | |
Value | $516.4M |
In the chart Earnings are multiplied by this value.
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 | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
---|---|---|---|---|---|---|---|---|---|---|
Net Margin | -13% | -7.1% | -14% | -29% | -15% | -37% | -27% | -9.4% | -14% | -1.9% |
ROA | 3% | -0.29% | -11% | -24% | -10% | -23% | -12% | -5.6% | -12% | -1.4% |
ROE | 12% | -6.4% | -15% | -36% | -18% | -48% | 460% | -160% | -130% | -6.6% |
The average Net Margin over the past 5 years is -21.94%.
The trend of Net Margin over the past 5 years is +2.87%.
The average ROA over the past 5 years is -14.38%.
The trend of ROA over the past 5 years is +2.4%.
The average ROE over the past 5 years is +12.99%.
The trend of ROE over the past 5 years is -10.21%.
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 | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
---|---|---|---|---|---|---|---|---|---|---|
Debt FCF | - | -0.94 | -0.23 | -1.63 | 22.32 | -4.32 | -31.44 | -25.14 | -4.15 | 14.04 |
Debt Equity | -0.19 | 0.10 | 0.08 | 0.30 | 0.41 | 0.79 | -27.72 | 18.44 | 8.26 | 3.29 |
MIN | ||||||||||
Graham Stability | - | - | - | - | - | - | - | - | - | - |
The Debt/FCF trailing twelve month is 14.04.
The trend of Debt/FCF over the past 5 years is -5.20.
Graham’s Stability measure stands at -.
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 | 12-2016 | 12-2018 | 12-2020 | 12-2022 | Trend |
---|---|---|---|---|---|
Revenue | 15% | 20% | 30% | 19% | 0.098% |
Net Income | - | - | - | - | - |
Stockholders Equity | -17% | -19% | -32% | 120% | 21% |
FCF | - | - | - | - | - |
The Revenue CAGR over the past 5 years is +20.19%.
The trend of Revenue growth rate over the past 5 years is +0.1%.
The Earnings CAGR over the past 5 years is +4.24%.
The trend of Earnings growth rate over the past 5 years is -.
The Equity CAGR over the past 5 years is -19%.
The trend of Equity growth rate over the past 5 years is +20.93%.
The FCF CAGR over the past 5 years is +30.23%.
The trend of FCF growth rate over the past 5 years is -.