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15.27 (1y: -2%)
Market Cap 489.04 M P/E(ttm) 17.10
Enterprise Value 580.58 M P/B 0.80
IVC- NYSE (USA)
Invacare Corporation
  • Currently 1/5
Business Predictability Rank: 1-Star (On Watch)
Back Testing Results:
Average gain of all 1-Star stocks: 1.1% per year.
% of Stocks that are in still loss if held for 10yrs: 45%.
Read more:
What is Predictability Rank?
Performances of real portfolio
Top Ranked Predictable Companies
$15.27
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GuruFocus Financial Strength Rank measures how strong a companyย’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 : 6/10

vs
industry		 vs
history
Cash to Debt 0.165
IVC's Cash to Debt is ranked lower than
56% of the 366 Companies
in the Global Medical Devices industry.

( Industry Median: 1.80 vs. IVC: 0.165 )
IVC' s 10-Year Cash to Debt Range
Min: 0.03   Max: 0.2
Current: 0.17
0.03
0.2
Equity to Asset 0.492
IVC's Equity to Asset is ranked higher than
55% of the 366 Companies
in the Global Medical Devices industry.

( Industry Median: 0.60 vs. IVC: 0.492 )
IVC' s 10-Year Equity to Asset Range
Min: 0.33   Max: 0.55
Current: 0.49
0.33
0.55
Interest Coverage 2.2
IVC's Interest Coverage is ranked higher than
57% of the 366 Companies
in the Global Medical Devices industry.

( Industry Median: 9.60 vs. IVC: 2.2 )
IVC' s 10-Year Interest Coverage Range
Min: 1   Max: 18
Current: 2.2
1
18
F-Score: 5
Z-Score: 2.43
M-Score: -2.39
GuruFocus Profitability Rank ranks how profitable a company is and how likely the companyย’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.
ย•ย•3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rankย•

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 : 5/10

vs
industry		 vs
history
Operating margin (%) 1.30
IVC's Operating margin (%) is ranked higher than
58% of the 366 Companies
in the Global Medical Devices industry.

( Industry Median: 5.40 vs. IVC: 1.30 )
IVC' s 10-Year Operating margin (%) Range
Min: 0.7   Max: 10.8
Current: 1.3
0.7
10.8
Net-margin (%) 0.1
IVC's Net-margin (%) is ranked higher than
58% of the 366 Companies
in the Global Medical Devices industry.

( Industry Median: 2.50 vs. IVC: 0.1 )
IVC' s 10-Year Net-margin (%) Range
Min: -21.2   Max: 5.9
Current: 0.1
-21.2
5.9
ROE (%) 0.3
IVC's ROE (%) is ranked higher than
58% of the 366 Companies
in the Global Medical Devices industry.

( Industry Median: 3.80 vs. IVC: 0.3 )
IVC' s 10-Year ROE (%) Range
Min: -65.5   Max: 17.1
Current: 0.3
-65.5
17.1
ROA (%) 0.1
IVC's ROA (%) is ranked higher than
59% of the 366 Companies
in the Global Medical Devices industry.

( Industry Median: 2.00 vs. IVC: 0.1 )
IVC' s 10-Year ROA (%) Range
Min: -21.3   Max: 7.1
Current: 0.1
-21.3
7.1
ROC (Joel Greenblatt) (%) 5.20
IVC's ROC (Joel Greenblatt) (%) is ranked higher than
61% of the 366 Companies
in the Global Medical Devices industry.

( Industry Median: 9.60 vs. IVC: 5.20 )
IVC' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 3.6   Max: 30.4
Current: 5.2
3.6
30.4
Revenue Growth (%) -3.6
IVC's Revenue Growth (%) is ranked lower than
60% of the 366 Companies
in the Global Medical Devices industry.

( Industry Median: 0.00 vs. IVC: -3.6 )
IVC' s 10-Year Revenue Growth (%) Range
Min: -3.6   Max: 8.2
Current: -3.6
-3.6
8.2
EBITDA Growth (%) -16.8
IVC's EBITDA Growth (%) is ranked lower than
66% of the 366 Companies
in the Global Medical Devices industry.

( Industry Median: 0.00 vs. IVC: -16.8 )
IVC' s 10-Year EBITDA Growth (%) Range
Min: -21   Max: 16.9
Current: -16.8
-21
16.9
EPS Growth (%) -53.6
IVC's EPS Growth (%) is ranked lower than
69% of the 366 Companies
in the Global Medical Devices industry.

( Industry Median: 0.00 vs. IVC: -53.6 )
IVC' s 10-Year EPS Growth (%) Range
Min: -63.8   Max: 110.1
Current: -53.6
-63.8
110.1
ยป IVC's 10-Y Financials

Financials


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

» Details

Guru Trades
Q2 2012

IVC Guru Trades in Q2 2012

Richard Snow 25,325 sh (New)
Chuck Royce 382,189 sh (+193.39%)
Joel Greenblatt Sold Out
Paul Tudor Jones 15,800 sh (-29.15%)
Jim Simons 19,800 sh (-60.24%)
» More
Q3 2012

IVC Guru Trades in Q3 2012

Steven Cohen 1,200 sh (New)
Paul Tudor Jones 20,000 sh (+26.58%)
Richard Snow 27,325 sh (+7.9%)
Jim Simons Sold Out
Chuck Royce 280,889 sh (-26.51%)
» More
Q4 2012

IVC Guru Trades in Q4 2012

Jim Simons 17,300 sh (New)
Steven Cohen 7,095 sh (+491.25%)
Chuck Royce 654,289 sh (+132.94%)
Richard Snow 53,920 sh (+97.33%)
Paul Tudor Jones 20,400 sh (+2%)
» More
Q1 2013

IVC Guru Trades in Q1 2013

Joel Greenblatt 66,151 sh (New)
Jim Simons 216,758 sh (+1152.94%)
Paul Tudor Jones 50,600 sh (+148.04%)
Chuck Royce 1,099,589 sh (+68.06%)
Richard Snow 83,870 sh (+55.55%)
Steven Cohen Sold Out
» More
» Details

Insider Trades

Latest Guru Trades with IVC

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Joel Greenblatt 2013-03-31 New Buy0.04%$12.84 - $17.18 $ 15.27-1%66151
Joel Greenblatt 2012-06-30 Sold Out 0.08%$14.2 - $16.46 $ 15.270%0
Joel Greenblatt 2012-03-31 New Buy0.08%$15.49 - $17.94 $ 15.27-3%54104
Joel Greenblatt 2011-06-30 Sold Out 0.18%$31.15 - $33.58 $ 15.27-53%0
George Soros 2011-06-30 Sold Out $31.15 - $33.58 $ 15.27-53%0
Joel Greenblatt 2011-03-31 Add 161.08%0.11%$27.64 - $30.72 $ 15.27-49%18902
George Soros 2011-03-31 New Buy$27.64 - $30.72 $ 15.27-49%6600
Joel Greenblatt 2010-12-31 New Buy0.07%$26.52 - $30.72 $ 15.27-46%7240
Premium More recent guru trades are included for Premium Members only!!
ยป Financial Charts

Peter Lynch Chart

Ratios

vs
industry		 vs
history
P/E(ttm) 17.10
IVC's P/E(ttm) is ranked higher than
76% of the 217 Companies
in the Global Medical Devices industry.

( Industry Median: 22.90 vs. IVC: 17.10 )
IVC' s 10-Year P/E(ttm) Range
Min: 11.64   Max: 849.33
Current: 17.1
11.64
849.33
P/B 0.80
IVC's P/B is ranked higher than
90% of the 307 Companies
in the Global Medical Devices industry.

( Industry Median: 2.30 vs. IVC: 0.80 )
IVC' s 10-Year P/B Range
Min: 0.55   Max: 3.41
Current: 0.8
0.55
3.41
P/S 0.34
IVC's P/S is ranked higher than
95% of the 333 Companies
in the Global Medical Devices industry.

( Industry Median: 2.30 vs. IVC: 0.34 )
IVC' s 10-Year P/S Range
Min: 0.23   Max: 1.21
Current: 0.34
0.23
1.21
PFCF 58.80
IVC's PFCF is ranked lower than
57% of the 200 Companies
in the Global Medical Devices industry.

( Industry Median: 21.03 vs. IVC: 58.80 )
IVC' s 10-Year PFCF Range
Min: 4.32   Max: 68.57
Current: 58.8
4.32
68.57
EV-to-EBIT 35.7
IVC's EV-to-EBIT is ranked lower than
80% of the 220 Companies
in the Global Medical Devices industry.

( Industry Median: 18.50 vs. IVC: 35.7 )
IVC' s 10-Year EV-to-EBIT Range
Min: 10.2   Max: 168.2
Current: 35.7
10.2
168.2
Shiller P/E 17.1
IVC's Shiller P/E is ranked lower than
100% of the Companies
in the Global Medical Devices industry.

( Industry Median: vs. IVC: 17.1 )
IVC' s 10-Year Shiller P/E Range
Min: 10.78   Max: 28.81
Current: 17.1
10.78
28.81

Dividend & Buy Back

vs
industry		 vs
history
Dividend Yield 0.33
IVC's Dividend Yield is ranked higher than
65% of the 366 Companies
in the Global Medical Devices industry.

( Industry Median: 0.00 vs. IVC: 0.33 )
IVC' s 10-Year Dividend Yield Range
Min: 0.1   Max: 0.46
Current: 0.33
0.1
0.46
Dividend Payout 0.8
IVC's Dividend Payout is ranked lower than
60% of the 110 Companies
in the Global Medical Devices industry.

( Industry Median: 0.30 vs. IVC: 0.8 )
IVC' s 10-Year Dividend Payout Range
Min: 0.02   Max: 1.34
Current: 0.8
0.02
1.34
Yield on cost (5-Year) 0.30
IVC's Yield on cost (5-Year) is ranked higher than
64% of the 366 Companies
in the Global Medical Devices industry.

( Industry Median: 0.00 vs. IVC: 0.30 )
IVC' s 10-Year Yield on cost (5-Year) Range
Min: 0.1   Max: 0.46
Current: 0.3
0.1
0.46
Share Buyback Rate 0.1
IVC's Share Buyback Rate is ranked higher than
89% of the 366 Companies
in the Global Medical Devices industry.

( Industry Median: 0.00 vs. IVC: 0.1 )
IVC' s 10-Year Share Buyback Rate Range
Min: 0.4   Max: -0.8
Current: 0.1

Valuation & Return

vs
industry		 vs
history
Price/Net Current Asset Value 2.2
IVC's Price/Net Current Asset Value is ranked higher than
93% of the 264 Companies
in the Global Medical Devices industry.

( Industry Median: 14.30 vs. IVC: 2.2 )
IVC' s 10-Year Price/Net Current Asset Value Range
Min: 1.7   Max: 5.2
Current: 2.2
1.7
5.2
Price/Tangible Book 5.6
IVC's Price/Tangible Book is ranked lower than
53% of the 272 Companies
in the Global Medical Devices industry.

( Industry Median: 3.90 vs. IVC: 5.6 )
IVC' s 10-Year Price/Tangible Book Range
Min: 6   Max: 32.1
Current: 5.6
6
32.1
Price/DCF (Projected) 0.4
IVC's Price/DCF (Projected) is ranked higher than
99% of the 134 Companies
in the Global Medical Devices industry.

( Industry Median: 1.70 vs. IVC: 0.4 )
IVC' s 10-Year Price/DCF (Projected) Range
Min: 0.4   Max: 2
Current: 0.4
0.4
2
Price/Median PS Value 0.6
IVC's Price/Median PS Value is ranked higher than
88% of the 284 Companies
in the Global Medical Devices industry.

( Industry Median: 0.90 vs. IVC: 0.6 )
IVC' s 10-Year Price/Median PS Value Range
Min: 0.5   Max: 1.8
Current: 0.6
0.5
1.8
Price/Peter Lynch Fair Value 1.2
IVC's Price/Peter Lynch Fair Value is ranked higher than
51% of the 53 Companies
in the Global Medical Devices industry.

( Industry Median: 1.90 vs. IVC: 1.2 )
IVC' s 10-Year Price/Peter Lynch Fair Value Range
Min: 2.2   Max: 21.4
Current: 1.2
2.2
21.4
Price/Graham Number 8.1
IVC's Price/Graham Number is ranked lower than
68% of the 195 Companies
in the Global Medical Devices industry.

( Industry Median: 2.00 vs. IVC: 8.1 )
IVC' s 10-Year Price/Graham Number Range
Min: 2.2   Max: 8.7
Current: 8.1
2.2
8.7
Earnings Yield (Greenblatt) 2.80
IVC's Earnings Yield (Greenblatt) is ranked higher than
67% of the 366 Companies
in the Global Medical Devices industry.

( Industry Median: 2.70 vs. IVC: 2.80 )
IVC' s 10-Year Earnings Yield (Greenblatt) Range
Min: 0.6   Max: 9.8
Current: 2.8
0.6
9.8
Forward Rate of Return (Yacktman) 29.71
IVC's Forward Rate of Return (Yacktman) is ranked higher than
98% of the 366 Companies
in the Global Medical Devices industry.

( Industry Median: 0.00 vs. IVC: 29.71 )
IVC' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -27   Max: 34.4
Current: 29.71
-27
34.4

Business Description

Invacare Corporation was incorporated in 1971. The Company is a manufacturer and distributor for medical equipment used in the home based upon its distribution channels, breadth of product line and net sales. The Company designs, manufactures and distributes an extensive line of health care products for the non-acute care environment, including the home health care, retail and extended care markets. Invacare sells its products mainly to over 25,000 home health care and medical equipment providers, distributors and government locations in the United States, Australia, Canada, Europe, New Zealand and Asia. Invacare's products are sold through its worldwide distribution network by its sales force, telesales associates and various organizations of independent manufacturers' representatives and distributors. Invacare also distributes medical equipment and disposable medical supplies manufactured by others. The company operates in five primary business segments: North America/Home Medical Equipment or NA/HME, Invacare Supply Group, Institutional Products Group, Europe and Asia/Pacific. The NA/HME segment sells each of three primary product lines, which includes: standard, rehab and respiratory products. Invacare Supply Group sells distributed product and the Institutional Products Group sells health care furnishings and accessory products. Europe and Asia/Pacific sell the same product lines with the exception of distributed products. Each business segment sells to the home health care, retail and extended care markets. The Company manufactures a complete line of power wheelchairs for individuals who require independent powered mobility. The range includes products that could be significantly customized to meet an individual's specific needs, as well as products that are inherently versatile and meet a broad range of individual requirements. Power wheelchair lines are marketed under the Invacare(r) TDX(r) brand names and include a full range of powered mobility products. Invacare manufactures and markets a range of custom manual wheelchairs for everyday, sports and recreational uses. These lightweight chairs are marketed under the Invacare(r) and Invacare Top End(r) brand names. The Company manufactures and distributes a variety of manual, semi-electric and fully electric beds for home use under the Invacare(r) brand name. Home care bed accessories include bedside rails, mattresses, overbed tables, trapeze bars and traction equipment. Also available are new bariatric beds and accompanying accessories to serve the special needs of bariatric patients. Invacare manufactures and/or distributes home respiratory products, including: oxygen concentrators, HomeFill(r) oxygen delivery systems, sleep apnea products, aerosol therapy and associated respiratory product lines. The Company also manufactures markets and distributes many accessory products, including spare parts, wheelchair cushions, arm rests, wheels and respiratory parts. In some case
Company Website
SEC Reports
Industry: Medical Devices
Compare:MDT, SYK, SMA, ZMH, STJ
Traded in other countries:IV3.Germany
ยป More Articles for IVC

Headlines

Articles On GuruFocus.com
Invacare Corporation: Sell First, Ask Questions Later? Feb 15 2012 
Invacare Corp. Reports Operating Results (10-K) Feb 25 2011 
Invacare Corp. Reports Operating Results (10-Q) Nov 05 2010 
Invacare Corp. Reports Operating Results (10-Q) Aug 06 2010 
Invacare Corp. Reports Operating Results (10-Q) May 06 2010 
Invacare Corp. Reports Operating Results (10-Q) Nov 05 2009 
Invacare Corp. Reports Operating Results (10-Q) May 07 2009 
Invacare Corporation Reports Earnings within Guidance and Strong Free Cash Flow Jan 29 2009 
Invacare Corporation to Host Conference Call to Discuss Q4 2008 Results Jan 20 2009 
Weekly CEO Buys Highlight: American Water Works Company, Inc., CocaCola Enterprises Inc., SAVVIS Inc May 07 2008 

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