Insight Molecular Diagnostics Inc. (NASDAQ: IMDX)

Sector: Healthcare Industry: Diagnostics & Research CIK: 0001642380
P/B -10.78
P/E -1.63
P/S 22.52
Market Cap 99.14 Mn
ROIC (Qtr) 7,678.90
Div Yield % 0.00
Rev 1y % (Qtr) 126.09
Total Debt (Qtr) 3.13 Mn
Debt/Equity (Qtr) -0.34

About

Oncocyte Corp, referred to as OCX on the stock exchange, is a prominent player in the healthcare and life science industry. The company specializes in the development and commercialization of molecular technologies for oncology and transplantation research and diagnostics. Through a series of acquisitions, Oncocyte Corp has built a portfolio of proprietary technologies, including DetermaRx, DetermaIO, VitaGraft, and DetermaCNI. These technologies aid in identifying patients who will benefit from new, targeted treatments and therapies, and provide...

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Analysis

Pros

  • Healthy cash reserves of 19.42M provide 12.15x coverage of short-term debt 1.60M, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 29.34M provides 9.38x coverage of total debt 3.13M, indicating robust asset backing and low credit risk.
  • Retained earnings of (377.81M) represent substantial 41.08x of equity (9.20M), indicating strong internal capital generation.
  • Tangible assets of 29.34M provide robust 5.86x coverage of other current liabilities 5.01M, indicating strong asset backing.
  • Strong cash position of 19.42M provides 3.88x coverage of other current liabilities 5.01M, indicating excellent liquidity.

Cons

  • Investment activities of (1.92M) provide weak support for R&D spending of 12.34M, which is -0.16x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • The company's operating cash flow of (21.99M) shows concerning coverage of stock compensation expenses of 2.17M, with a -10.12 ratio indicating potential earnings quality issues.
  • Free cash flow of (23.91M) provides weak coverage of capital expenditures of 1.92M, with a -12.48 ratio suggesting additional external financing needs for growth initiatives.
  • Operating earnings of (60.66M) show weak coverage of depreciation charges of 2.20M, with a -27.61 ratio indicating high capital intensity and potential reinvestment needs.
  • Operating cash flow of (21.99M) barely covers operating expenses of 35.27M with a -0.62 ratio, suggesting thin operational efficiency margins and limited flexibility.

Peer Comparison

Companies in the Diagnostics & Research
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 TMO Thermo Fisher Scientific Inc. 216.83 Bn 33.00 4.96 35.68 Bn
2 DHR Danaher Corp /De/ 162.47 Bn 46.38 6.69 16.86 Bn
3 IDXX Idexx Laboratories Inc /De 56.88 Bn 55.36 13.65 1.09 Bn
4 A Agilent Technologies, Inc. 39.82 Bn 32.64 5.87 3.41 Bn
5 IQV Iqvia Holdings Inc. 38.85 Bn 30.28 2.44 15.19 Bn
6 NTRA Natera, Inc. 31.32 Bn -101.29 14.80 0.18 Bn
7 MTD Mettler Toledo International Inc/ 28.99 Bn 34.68 7.35 2.21 Bn
8 WAT Waters Corp /De/ 22.92 Bn 35.32 7.38 1.49 Bn

Industry Comparisons

Current Valuation

Metric Value Industry Percentile
EV to Assets 1.74 2.69
EV to Cash from Ops. -3.48 18.14
EV to Debt 24.47 52.51
EV to EBIT -1.26 19.22
EV to EBITDA -1.29 4.35
EV to Free Cash Flow [EV/FCF] -3.20 2.84
EV to Market Cap 0.77 1.52
EV to Revenue 17.39 4.79
Price to Book Value [P/B] -10.78 1.34
Price to Earnings [P/E] -1.63 22.02

Dividend Metrics

Metric Value Industry Percentile
Dividend Coverage Ratio 0.00 -1.96
Dividend Payout Ratio % 0.00 2.83
Dividend per Basic Share 0.00 0.19
FCF Dividend Payout Ratio % 0.00 1.92
Interest Coverage -536.86 -126.58

Growth Metrics

Metric Value Industry Percentile
Capex Growth (1y) % -238.52 -31.50
Cash and Equivalents Growth (1y) % 283.59 21.37
Dividend Growth (1y) % 0.00 0.24
EBIAT Growth (1y) % -39.32 -55.24
EBITDA Growth (1y) % -39.87 -447.96
EBIT Growth (1y) % -39.32 -40.50
EBT Growth (1y) % -39.37 -70.94
EPS Growth (1y) % 29.52 -70.02
FCF Growth (1y) % -17.62 56.33
Gross Profit Growth (1y) % 8,503.57 185.11

Liquidity Ratios

Metric Value Industry Percentile
Asset Utilization Ratio 0.10 0.56
Cash Payout Ratio 0.00 0.01
Cash Ratio 2.54 1.21
Current Ratio 2.79 2.64
Debt to Equity Ratio -0.34 -0.80
Interest Cover Ratio -536.86 -126.58
Times Interest Earned -536.86 -126.58

Profitability

Metric Value Industry Percentile
EBITDA Margin % -1,328.20 -129.91
EBIT Margin % -1,378.12 -156.71
EBT Margin % -1,380.69 -162.23
Gross Margin % 54.70 47.70
Net Profit Margin % -1,380.70 -189.30