Anteris Technologies Global Corp. (NASDAQ: AVR)

Sector: Healthcare Industry: Medical Instruments & Supplies CIK: 0002011514
Market Cap 188.38 Mn
P/B 50.94
P/E -2.23
P/S 88.06
ROIC (Qtr) -519.78
Div Yield % 0.00
Rev 1y % (Qtr) -44.21
Total Debt (Qtr) 2.35 Mn
Debt/Equity (Qtr) 0.64
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About

Investment thesis

Bull case

  • Healthy cash reserves of 9.12M provide 12.67x coverage of short-term debt 720000, demonstrating strong liquidity position and minimal refinancing risk.
  • Operating cash flow of (77.51M) provides exceptional 903.76x coverage of minority interest expenses (85768), showing strong core operations.
  • Strong tangible asset base of 19M provides 8.08x coverage of total debt 2.35M, indicating robust asset backing and low credit risk.
  • Cash reserves of 9.12M provide ample 6.72x coverage of acquisition spending 1.36M, enabling strategic growth opportunities.
  • Cash reserves of 9.12M provide solid 13.96x coverage of other non-current liabilities 653000, indicating strong liquidity.

Bear case

  • Investment activities of (562568) provide weak support for R&D spending of 62.92M, which is -0.01x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • The company's operating cash flow of (77.51M) shows concerning coverage of stock compensation expenses of 6.05M, with a -12.80 ratio indicating potential earnings quality issues.
  • Free cash flow of (79.43M) provides weak coverage of capital expenditures of 1.92M, with a -41.37 ratio suggesting additional external financing needs for growth initiatives.
  • Operating earnings of (84.25M) show weak coverage of depreciation charges of 1.64M, with a -51.30 ratio indicating high capital intensity and potential reinvestment needs.
  • Debt issuance of (3.34M) significantly exceeds working capital of (2.21M), which is 1.51x, indicating potentially unsustainable leverage for operational funding.

Peer comparison

Companies in the Medical Instruments & Supplies
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 ISRG Intuitive Surgical Inc 176.13 Bn 61.67 17.50 0.00 Bn
2 BDX Becton Dickinson & Co 50.84 Bn 28.94 2.32 19.54 Bn
3 ALC Alcon Inc 39.87 Bn 38.08 3.91 5.24 Bn
4 RMD Resmed Inc 37.63 Bn 36.86 8.03 0.85 Bn
5 HOLX Hologic Inc 16.89 Bn 31.05 4.09 2.52 Bn
6 COO Cooper Companies, Inc. 16.34 Bn 43.59 3.99 2.51 Bn
7 WST West Pharmaceutical Services Inc 15.98 Bn 228.35 15.87 0.32 Bn
8 ALGN Align Technology Inc 13.70 Bn 36.21 3.44 0.09 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 8.53 2.69
EV to Cash from Ops. EV/CFO -2.10 33.85
EV to Debt EV to Debt 69.22 26.88
EV to EBIT EV/EBIT -1.93 21.42
EV to EBITDA EV/EBITDA -1.92 13.45
EV to Free Cash Flow [EV/FCF] EV/FCF -2.05 108.54
EV to Market Cap EV to Market Cap 0.86 -4.25
EV to Revenue EV/Rev 76.08 291.65
Price to Book Value [P/B] P/B 50.94 6.13
Price to Earnings [P/E] P/E -2.23 168.84
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -1.12
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 2.62
Dividend per Basic Share Div per Share (Qtr) 0.00 0.25
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 7.48
Interest Coverage Int. cover (Qtr) -1,189.15 11.77
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 18.43 -62.99
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -14.11 419.59
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 -1.67
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -18.58 -57.55
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -21.14 -107.89
EBIT Growth (1y) % EBIT 1y % (Qtr) -18.58 -37.41
EBT Growth (1y) % EBT 1y % (Qtr) -18.59 -40.02
EPS Growth (1y) % EPS 1y % (Qtr) 34.03 -9.45
FCF Growth (1y) % FCF 1y % (Qtr) -49.12 57.56
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 29.07 66.70
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.11 0.54
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.03
Cash Ratio Cash Ratio (Qtr) 0.68 2.52
Current Ratio Curr Ratio (Qtr) 0.84 7.80
Debt to Equity Ratio Debt/Equity (Qtr) 0.64 0.55
Interest Cover Ratio Int Coverage (Qtr) -1,189.15 11.77
Times Interest Earned Times Interest Earned (Qtr) -1,189.15 11.77
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -3,861.60 -2,368.82
EBIT Margin % EBIT Margin % (Qtr) -3,938.38 -2,472.83
EBT Margin % EBT Margin % (Qtr) -3,941.69 -2,442.75
Gross Margin % Gross Margin % (Qtr) 67.90 29.78
Net Profit Margin % Net Margin % (Qtr) -3,941.70 -2,438.72