Orasure Technologies Inc (NASDAQ: OSUR)

Sector: Healthcare Industry: Medical Instruments & Supplies CIK: 0001116463
Market Cap 204.06 Mn
P/B 0.56
P/E -3.39
P/S 1.62
ROIC (Qtr) -16.75
Div Yield % 0.00
Rev 1y % (Qtr) -32.14
Total Debt (Qtr) 13.47 Mn
Debt/Equity (Qtr) 0.04

About

Price action

Investment thesis

Bull case

  • Healthy cash reserves of 216.48M provide 102.69x coverage of short-term debt 2.11M, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 364.58M provides 27.08x coverage of total debt 13.46M, indicating robust asset backing and low credit risk.
  • Tangible assets of 364.58M provide exceptional 194.03x coverage of deferred revenue 1.88M, showing strong service capability backing.
  • Strong free cash flow of (42.76M) provides 8.49x coverage of acquisition spending (5.04M), indicating disciplined M&A strategy.
  • Long-term investments of 26.60M provide solid 2.34x coverage of long-term debt 11.36M, indicating strategic financial planning.

Bear case

  • Investment activities of (7.88M) provide weak support for R&D spending of 37.20M, which is -0.21x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Cash reserves of 216.48M provide limited coverage of acquisition spending of (5.04M), which is -42.98x, suggesting aggressive expansion might strain liquidity if market conditions deteriorate.
  • Operating cash flow of (39.92M) provides insufficient coverage of deferred revenue obligations of 1.88M, which is -21.24x, raising concerns about future service delivery capabilities.
  • The company's operating cash flow of (39.92M) shows concerning coverage of stock compensation expenses of 11.43M, with a -3.49 ratio indicating potential earnings quality issues.
  • Free cash flow of (42.76M) provides weak coverage of capital expenditures of 2.84M, with a -15.04 ratio suggesting additional external financing needs for growth initiatives.

Product and Service Breakdown of Revenue (2024)

Geographical Breakdown of Revenue (2024)

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 174.27 Bn 61.02 17.31 0.00 Bn
2 BDX Becton Dickinson & Co 59.72 Bn 37.77 3.14 19.18 Bn
3 RMD Resmed Inc 39.76 Bn 26.76 7.37 0.85 Bn
4 ALC Alcon Inc 38.93 Bn 37.18 3.82 5.24 Bn
5 WST West Pharmaceutical Services Inc 17.69 Bn 133.13 12.54 0.30 Bn
6 HOLX Hologic Inc 16.81 Bn 30.91 4.07 2.52 Bn
7 COO Cooper Companies, Inc. 16.37 Bn 43.67 4.00 2.51 Bn
8 ALGN Align Technology Inc 13.73 Bn 36.29 3.45 0.09 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets -0.04 2.75
EV to Cash from Ops. EV/CFO 0.41 39.87
EV to Debt EV to Debt -1.22 27.09
EV to EBIT EV/EBIT 0.28 32.86
EV to EBITDA EV/EBITDA 0.30 19.31
EV to Free Cash Flow [EV/FCF] EV/FCF 0.38 0.88
EV to Market Cap EV to Market Cap -0.08 -4.26
EV to Revenue EV/Rev -0.13 252.61
Price to Book Value [P/B] P/B 0.56 6.13
Price to Earnings [P/E] P/E -3.39 184.03
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -1.09
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 1.36
Dividend per Basic Share Div per Share (Qtr) 0.00 0.25
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 8.74
Interest Coverage Int. cover (Qtr) 0.00 -117.83
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 38.54 -53.47
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -22.29 414.02
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 -1.48
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -629.95 -57.42
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -798.80 -106.89
EBIT Growth (1y) % EBIT 1y % (Qtr) -543.43 -37.00
EBT Growth (1y) % EBT 1y % (Qtr) -543.43 -42.63
EPS Growth (1y) % EPS 1y % (Qtr) -633.33 -15.05
FCF Growth (1y) % FCF 1y % (Qtr) -166.81 56.29
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) -49.68 67.95
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.30 0.54
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.03
Cash Ratio Cash Ratio (Qtr) 5.38 2.51
Current Ratio Curr Ratio (Qtr) 7.03 7.80
Debt to Equity Ratio Debt/Equity (Qtr) 0.04 0.55
Interest Cover Ratio Int Coverage (Qtr) 0.00 -117.83
Times Interest Earned Times Interest Earned (Qtr) 0.00 -117.83
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -37.90 -2,368.59
EBIT Margin % EBIT Margin % (Qtr) -46.05 -2,472.59
EBT Margin % EBT Margin % (Qtr) -46.05 -2,442.52
Gross Margin % Gross Margin % (Qtr) 40.40 30.06
Net Profit Margin % Net Margin % (Qtr) -47.90 -2,438.49