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Also traded in: Germany

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 4/10

vs
industry
vs
history
Cash to Debt 0.09
EXAM's Cash to Debt is ranked lower than
98% of the 608 Companies
in the Global Insurance Brokers industry.

( Industry Median: 9999.00 vs. EXAM: 0.09 )
Ranked among companies with meaningful Cash to Debt only.
EXAM' s Cash to Debt Range Over the Past 10 Years
Min: 0.02  Med: 0.04 Max: 3.41
Current: 0.09
0.02
3.41
Equity to Asset 0.34
EXAM's Equity to Asset is ranked lower than
65% of the 612 Companies
in the Global Insurance Brokers industry.

( Industry Median: 0.58 vs. EXAM: 0.34 )
Ranked among companies with meaningful Equity to Asset only.
EXAM' s Equity to Asset Range Over the Past 10 Years
Min: 0.27  Med: 0.37 Max: 0.8
Current: 0.34
0.27
0.8
Interest Coverage 1.79
EXAM's Interest Coverage is ranked lower than
82% of the 456 Companies
in the Global Insurance Brokers industry.

( Industry Median: 18.34 vs. EXAM: 1.79 )
Ranked among companies with meaningful Interest Coverage only.
EXAM' s Interest Coverage Range Over the Past 10 Years
Min: 0.18  Med: 0.41 Max: N/A
Current: 1.79
F-Score: 4
Z-Score: 2.24
M-Score: -2.41
WACC vs ROIC
5.62%
4.85%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 6/10

vs
industry
vs
history
Operating margin (%) 7.41
EXAM's Operating margin (%) is ranked lower than
57% of the 654 Companies
in the Global Insurance Brokers industry.

( Industry Median: 14.28 vs. EXAM: 7.41 )
Ranked among companies with meaningful Operating margin (%) only.
EXAM' s Operating margin (%) Range Over the Past 10 Years
Min: -14.54  Med: 1.34 Max: 7.41
Current: 7.41
-14.54
7.41
Net-margin (%) 0.68
EXAM's Net-margin (%) is ranked lower than
69% of the 658 Companies
in the Global Insurance Brokers industry.

( Industry Median: 11.47 vs. EXAM: 0.68 )
Ranked among companies with meaningful Net-margin (%) only.
EXAM' s Net-margin (%) Range Over the Past 10 Years
Min: -14.78  Med: -2.48 Max: 1.35
Current: 0.68
-14.78
1.35
ROE (%) 1.55
EXAM's ROE (%) is ranked lower than
64% of the 663 Companies
in the Global Insurance Brokers industry.

( Industry Median: 5.02 vs. EXAM: 1.55 )
Ranked among companies with meaningful ROE (%) only.
EXAM' s ROE (%) Range Over the Past 10 Years
Min: -21.52  Med: -3.95 Max: 3.4
Current: 1.55
-21.52
3.4
ROA (%) 0.55
EXAM's ROA (%) is ranked lower than
63% of the 676 Companies
in the Global Insurance Brokers industry.

( Industry Median: 1.68 vs. EXAM: 0.55 )
Ranked among companies with meaningful ROA (%) only.
EXAM' s ROA (%) Range Over the Past 10 Years
Min: -7.63  Med: -1.90 Max: 1.26
Current: 0.55
-7.63
1.26
ROC (Joel Greenblatt) (%) 50.01
EXAM's ROC (Joel Greenblatt) (%) is ranked higher than
64% of the 510 Companies
in the Global Insurance Brokers industry.

( Industry Median: 14.10 vs. EXAM: 50.01 )
Ranked among companies with meaningful ROC (Joel Greenblatt) (%) only.
EXAM' s ROC (Joel Greenblatt) (%) Range Over the Past 10 Years
Min: -391.88  Med: 9.78 Max: 55.09
Current: 50.01
-391.88
55.09
Revenue Growth (3Y)(%) 7.60
EXAM's Revenue Growth (3Y)(%) is ranked higher than
56% of the 515 Companies
in the Global Insurance Brokers industry.

( Industry Median: 4.40 vs. EXAM: 7.60 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
EXAM' s Revenue Growth (3Y)(%) Range Over the Past 10 Years
Min: 0  Med: 17.10 Max: 47.7
Current: 7.6
0
47.7
EBITDA Growth (3Y)(%) 13.20
EXAM's EBITDA Growth (3Y)(%) is ranked higher than
57% of the 394 Companies
in the Global Insurance Brokers industry.

( Industry Median: 9.60 vs. EXAM: 13.20 )
Ranked among companies with meaningful EBITDA Growth (3Y)(%) only.
EXAM' s EBITDA Growth (3Y)(%) Range Over the Past 10 Years
Min: 0  Med: 19.80 Max: 126.7
Current: 13.2
0
126.7
» EXAM's 10-Y Financials

Financials (Next Earnings Date: Est. 2016-05-05)


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q1 2015

EXAM Guru Trades in Q1 2015

Ron Baron 666,000 sh (+45.10%)
RS Investment Management 1,382,467 sh (+9.62%)
Jim Simons 116,173 sh (-0.88%)
Joel Greenblatt 22,698 sh (-16.75%)
» More
Q2 2015

EXAM Guru Trades in Q2 2015

RS Investment Management 1,685,547 sh (+21.92%)
Ron Baron 668,700 sh (+0.41%)
Joel Greenblatt 16,615 sh (-26.80%)
Jim Simons 19,400 sh (-83.30%)
» More
Q3 2015

EXAM Guru Trades in Q3 2015

Paul Tudor Jones 10,000 sh (New)
Steven Cohen 112,900 sh (New)
RS Investment Management 2,177,717 sh (+29.20%)
Ron Baron 683,200 sh (+2.17%)
Joel Greenblatt Sold Out
Jim Simons 8,800 sh (-54.64%)
» More
Q4 2015

EXAM Guru Trades in Q4 2015

Steven Cohen 205,900 sh (+82.37%)
Ron Baron 799,200 sh (+16.98%)
Paul Tudor Jones Sold Out
RS Investment Management Sold Out
Jim Simons Sold Out
» More
» Details

Insider Trades

Latest Guru Trades with EXAM

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

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Guru Investment Theses on ExamWorks Group Inc

Baron Funds Comments on ExamWorks Group - Feb 25, 2016

ExamWorks Group, Inc. (NYSE:EXAM) is a business services company. Its main product line enables insurers of all sizes to schedule and obtain independent medical examiners (IMEs). IMEs are third-party doctors used by insurers objectively evaluate injury claims (for example workers compensation claims or auto accident injuries). The U.S. IME services market is worth an estimated $4 billion, and ExamWorks is the largest player in this fragmented market with an estimated $450 million of revenues this year (about 11% share). Foreign markets are an additional $1 billion in size, and ExamWorks has operations in the U.K., Canada and Australia as well. ExamWorks should have solid mid- to high-single-digit revenue growth this year, and has what we believe are nice EBITDA margins. ExamWorks also has recurring revenue and real free cash flow. EBITDA margins are now about 17%, and we expect these to increase to 20% over the next few years. Combined with the revenue growth, we expect cash flow growth in the mid-teens for years to come, yet the company trades below nine times cash flow which we believe is very reasonable. We win with this investment by maintaining the current multiple and capturing growth or by getting multiple appreciation on top of growth.



From Baron Discover Fund's fourth quarter 2015 commentary.



Check out Ron Baron latest stock trades

Top Ranked Articles about ExamWorks Group Inc

Baron Funds Comments on ExamWorks Group Guru stock highlight
ExamWorks Group, Inc. (NYSE:EXAM) is a business services company. Its main product line enables insurers of all sizes to schedule and obtain independent medical examiners (IMEs). IMEs are third-party doctors used by insurers objectively evaluate injury claims (for example workers compensation claims or auto accident injuries). The U.S. IME services market is worth an estimated $4 billion, and ExamWorks is the largest player in this fragmented market with an estimated $450 million of revenues this year (about 11% share). Foreign markets are an additional $1 billion in size, and ExamWorks has operations in the U.K., Canada and Australia as well. ExamWorks should have solid mid- to high-single-digit revenue growth this year, and has what we believe are nice EBITDA margins. ExamWorks also has recurring revenue and real free cash flow. EBITDA margins are now about 17%, and we expect these to increase to 20% over the next few years. Combined with the revenue growth, we expect cash flow growth in the mid-teens for years to come, yet the company trades below nine times cash flow which we believe is very reasonable. We win with this investment by maintaining the current multiple Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 275.79
EXAM's P/E(ttm) is ranked lower than
94% of the 487 Companies
in the Global Insurance Brokers industry.

( Industry Median: 15.88 vs. EXAM: 275.79 )
Ranked among companies with meaningful P/E(ttm) only.
EXAM' s P/E(ttm) Range Over the Past 10 Years
Min: 124.41  Med: 221.16 Max: 1345.81
Current: 275.79
124.41
1345.81
Forward P/E 31.95
EXAM's Forward P/E is ranked lower than
93% of the 58 Companies
in the Global Insurance Brokers industry.

( Industry Median: 14.39 vs. EXAM: 31.95 )
Ranked among companies with meaningful Forward P/E only.
N/A
PE(NRI) 275.79
EXAM's PE(NRI) is ranked lower than
94% of the 488 Companies
in the Global Insurance Brokers industry.

( Industry Median: 16.30 vs. EXAM: 275.79 )
Ranked among companies with meaningful PE(NRI) only.
EXAM' s PE(NRI) Range Over the Past 10 Years
Min: 124.81  Med: 219.46 Max: 1390.67
Current: 275.79
124.81
1390.67
Price/Owner Earnings (ttm) 91.45
EXAM's Price/Owner Earnings (ttm) is ranked lower than
94% of the 211 Companies
in the Global Insurance Brokers industry.

( Industry Median: 13.11 vs. EXAM: 91.45 )
Ranked among companies with meaningful Price/Owner Earnings (ttm) only.
EXAM' s Price/Owner Earnings (ttm) Range Over the Past 10 Years
Min: 26.21  Med: 42.80 Max: 161.71
Current: 91.45
26.21
161.71
P/B 4.11
EXAM's P/B is ranked lower than
86% of the 637 Companies
in the Global Insurance Brokers industry.

( Industry Median: 1.11 vs. EXAM: 4.11 )
Ranked among companies with meaningful P/B only.
EXAM' s P/B Range Over the Past 10 Years
Min: 0.9  Med: 3.28 Max: 4.93
Current: 4.11
0.9
4.93
P/S 1.86
EXAM's P/S is ranked higher than
65% of the 621 Companies
in the Global Insurance Brokers industry.

( Industry Median: 3.40 vs. EXAM: 1.86 )
Ranked among companies with meaningful P/S only.
EXAM' s P/S Range Over the Past 10 Years
Min: 0.57  Med: 1.54 Max: 2.71
Current: 1.86
0.57
2.71
PFCF 39.48
EXAM's PFCF is ranked lower than
84% of the 191 Companies
in the Global Insurance Brokers industry.

( Industry Median: 13.20 vs. EXAM: 39.48 )
Ranked among companies with meaningful PFCF only.
EXAM' s PFCF Range Over the Past 10 Years
Min: 7.03  Med: 30.49 Max: 60.91
Current: 39.48
7.03
60.91
POCF 30.65
EXAM's POCF is ranked lower than
80% of the 231 Companies
in the Global Insurance Brokers industry.

( Industry Median: 12.23 vs. EXAM: 30.65 )
Ranked among companies with meaningful POCF only.
EXAM' s POCF Range Over the Past 10 Years
Min: 5.79  Med: 24.79 Max: 42.75
Current: 30.65
5.79
42.75
EV-to-EBIT 32.26
EXAM's EV-to-EBIT is ranked lower than
76% of the 452 Companies
in the Global Insurance Brokers industry.

( Industry Median: 14.43 vs. EXAM: 32.26 )
Ranked among companies with meaningful EV-to-EBIT only.
EXAM' s EV-to-EBIT Range Over the Past 10 Years
Min: -1525.9  Med: 80.10 Max: 986.1
Current: 32.26
-1525.9
986.1
EV-to-EBITDA 16.83
EXAM's EV-to-EBITDA is ranked lower than
64% of the 471 Companies
in the Global Insurance Brokers industry.

( Industry Median: 13.00 vs. EXAM: 16.83 )
Ranked among companies with meaningful EV-to-EBITDA only.
EXAM' s EV-to-EBITDA Range Over the Past 10 Years
Min: 10.1  Med: 16.60 Max: 33.6
Current: 16.83
10.1
33.6
PEG 13.40
EXAM's PEG is ranked lower than
96% of the 134 Companies
in the Global Insurance Brokers industry.

( Industry Median: 0.87 vs. EXAM: 13.40 )
Ranked among companies with meaningful PEG only.
EXAM' s PEG Range Over the Past 10 Years
Min: 2.84  Med: 9.45 Max: 45.63
Current: 13.4
2.84
45.63
Current Ratio 2.22
EXAM's Current Ratio is ranked higher than
53% of the 323 Companies
in the Global Insurance Brokers industry.

( Industry Median: 1.96 vs. EXAM: 2.22 )
Ranked among companies with meaningful Current Ratio only.
EXAM' s Current Ratio Range Over the Past 10 Years
Min: 0.55  Med: 1.55 Max: 2.22
Current: 2.22
0.55
2.22
Quick Ratio 2.22
EXAM's Quick Ratio is ranked higher than
55% of the 323 Companies
in the Global Insurance Brokers industry.

( Industry Median: 1.76 vs. EXAM: 2.22 )
Ranked among companies with meaningful Quick Ratio only.
EXAM' s Quick Ratio Range Over the Past 10 Years
Min: 0.55  Med: 1.55 Max: 2.22
Current: 2.22
0.55
2.22
Days Sales Outstanding 109.31
EXAM's Days Sales Outstanding is ranked lower than
63% of the 356 Companies
in the Global Insurance Brokers industry.

( Industry Median: 54.49 vs. EXAM: 109.31 )
Ranked among companies with meaningful Days Sales Outstanding only.
EXAM' s Days Sales Outstanding Range Over the Past 10 Years
Min: 62.55  Med: 98.15 Max: 132.14
Current: 109.31
62.55
132.14
Days Payable 41.23
EXAM's Days Payable is ranked higher than
58% of the 188 Companies
in the Global Insurance Brokers industry.

( Industry Median: 24.96 vs. EXAM: 41.23 )
Ranked among companies with meaningful Days Payable only.
EXAM' s Days Payable Range Over the Past 10 Years
Min: 41.23  Med: 54.58 Max: 77.72
Current: 41.23
41.23
77.72

Valuation & Return

vs
industry
vs
history
Price/Projected FCF 2.19
EXAM's Price/Projected FCF is ranked lower than
81% of the 191 Companies
in the Global Insurance Brokers industry.

( Industry Median: 0.99 vs. EXAM: 2.19 )
Ranked among companies with meaningful Price/Projected FCF only.
EXAM' s Price/Projected FCF Range Over the Past 10 Years
Min: 1.61  Med: 2.56 Max: 3.51
Current: 2.19
1.61
3.51
Price/Median PS Value 1.22
EXAM's Price/Median PS Value is ranked lower than
75% of the 547 Companies
in the Global Insurance Brokers industry.

( Industry Median: 0.92 vs. EXAM: 1.22 )
Ranked among companies with meaningful Price/Median PS Value only.
EXAM' s Price/Median PS Value Range Over the Past 10 Years
Min: 0.53  Med: 1.00 Max: 1.4
Current: 1.22
0.53
1.4
Price/Peter Lynch Fair Value 12.91
EXAM's Price/Peter Lynch Fair Value is ranked lower than
98% of the 83 Companies
in the Global Insurance Brokers industry.

( Industry Median: 0.76 vs. EXAM: 12.91 )
Ranked among companies with meaningful Price/Peter Lynch Fair Value only.
EXAM' s Price/Peter Lynch Fair Value Range Over the Past 10 Years
Min: 6.65  Med: 8.08 Max: 9.5
Current: 12.91
6.65
9.5
Earnings Yield (Greenblatt) (%) 3.09
EXAM's Earnings Yield (Greenblatt) (%) is ranked lower than
54% of the 632 Companies
in the Global Insurance Brokers industry.

( Industry Median: 3.90 vs. EXAM: 3.09 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
EXAM' s Earnings Yield (Greenblatt) (%) Range Over the Past 10 Years
Min: 0.1  Med: 1.00 Max: 3.9
Current: 3.09
0.1
3.9
Forward Rate of Return (Yacktman) (%) 23.82
EXAM's Forward Rate of Return (Yacktman) (%) is ranked higher than
74% of the 175 Companies
in the Global Insurance Brokers industry.

( Industry Median: 9.49 vs. EXAM: 23.82 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
EXAM' s Forward Rate of Return (Yacktman) (%) Range Over the Past 10 Years
Min: 1.9  Med: 27.40 Max: 46
Current: 23.82
1.9
46

More Statistics

Revenue(Mil) $820
EPS $ 0.13
Beta0.75
Short Percentage of Float13.20%
52-Week Range $21.98 - 42.60
Shares Outstanding(Mil)41.05

Analyst Estimate

Dec16 Dec17
Revenue(Mil) 949 1,012
EPS($) 0.68 1.13
EPS without NRI($) 0.68 1.13

Business Description

Industry: Brokers & Exchanges » Insurance Brokers
Compare:NYSE:BRO, NAS:ERIE, LSE:JLT, ASX:SDF » details
Traded in other countries:UEX.Germany,
ExamWorks Group Inc was incorporated as a Delaware corporation on April 27, 2007. The Company is a provider of independent medical examinations, or 'IMEs', peer and bill reviews, and other related services, which include legal support services, administrative support services and medical record retrieval services. It provides these IME services through its medical panel of independently contracted, credentialed physicians and other medical providers. The Company's clients include property and casualty insurance carriers, law firms, third-party claim administrators, and government agencies that use independent services to confirm the veracity of claims by sick or injured individuals for workers' compensation, automotive, personal injury liability and disability insurance coverage. It helps its clients manage costs and enhance their risk management processes by verifying the validity, nature, cause and extent of claims, identifying fraud and providing fast, efficient and quality IME services. It provides its clients with the local presence, expertise and geographic coverage they increasingly require. The Company's size and geographic reach give its clients access to its medical panel of physicians and other medical providers and proprietary information technology infrastructure that has been specifically designed to streamline the complex process of coordinating referrals, scheduling appointments, complying with regulations and client reporting. The Company's primary service is to provide IMEs that give its clients authoritative and accurate answers to questions regarding the nature and permanency of medical conditions or personal injury, their cause and appropriate treatment. Additionally, it provides peer and bill reviews, which consist of medical opinions by members of its medical panel without conducting physical exams, and the review of physician and hospital bills to examine medical care rendered and its conformity to accepted standards of care. Its primary competitors include companies and individual physicians that specialize in one or more services similar to those offered by the Company on a local or regional basis as well as insurance companies and other organizations which have established an in-house capability of performing such services. As a Company involved in the provision of IME services, it is subject to certain federal, state and local laws and regulations.
» More Articles for EXAM

Headlines

Articles On GuruFocus.com
Baron Funds Comments on ExamWorks Group Feb 25 2016 
RS Investment Sells Stake in Debt Collection Company Feb 17 2016 
Weekly CEO Buys Highlight: HHC, PKY, IRM, AINV, EXAM Jun 10 2013 
CEOs Reporting Insider Buys Costing Over $100,000 Jun 04 2013 
Weekly CEO Buys Highlight: DRC, CWT, MTG, EXAM, SBY Mar 10 2013 
ExamWorks Reports Insider Buys Mar 05 2013 
Weekly CFO Buys Highlight: TSON, VRX, POL, PRTS, EXAM Dec 12 2011 

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SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation as to Whether the Sale of ExamWorks... Apr 27 2016
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