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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 : 6/10

vs
industry
vs
history
Cash-to-Debt 0.77
IVC's Cash-to-Debt is ranked lower than
66% of the 316 Companies
in the Global Medical Devices industry.

( Industry Median: 2.30 vs. IVC: 0.77 )
Ranked among companies with meaningful Cash-to-Debt only.
IVC' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.03  Med: 0.11 Max: 1.92
Current: 0.77
0.03
1.92
Equity-to-Asset 0.47
IVC's Equity-to-Asset is ranked lower than
70% of the 294 Companies
in the Global Medical Devices industry.

( Industry Median: 0.63 vs. IVC: 0.47 )
Ranked among companies with meaningful Equity-to-Asset only.
IVC' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.33  Med: 0.47 Max: 0.61
Current: 0.47
0.33
0.61
Piotroski F-Score: 3
Altman Z-Score: 1.84
Beneish M-Score: -2.57
WACC vs ROIC
21.98%
-0.34%
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 : 3/10

vs
industry
vs
history
Operating Margin % -1.49
IVC's Operating Margin % is ranked lower than
55% of the 299 Companies
in the Global Medical Devices industry.

( Industry Median: 2.42 vs. IVC: -1.49 )
Ranked among companies with meaningful Operating Margin % only.
IVC' s Operating Margin % Range Over the Past 10 Years
Min: -4.78  Med: 0.17 Max: 4.99
Current: -1.49
-4.78
4.99
Net Margin % -4.09
IVC's Net Margin % is ranked lower than
59% of the 299 Companies
in the Global Medical Devices industry.

( Industry Median: 1.92 vs. IVC: -4.09 )
Ranked among companies with meaningful Net Margin % only.
IVC' s Net Margin % Range Over the Past 10 Years
Min: -4.41  Med: 0.1 Max: 2.48
Current: -4.09
-4.41
2.48
ROE % -9.33
IVC's ROE % is ranked lower than
60% of the 295 Companies
in the Global Medical Devices industry.

( Industry Median: 1.20 vs. IVC: -9.33 )
Ranked among companies with meaningful ROE % only.
IVC' s ROE % Range Over the Past 10 Years
Min: -9.68  Med: 0.26 Max: 6.67
Current: -9.33
-9.68
6.67
ROA % -4.61
IVC's ROA % is ranked lower than
56% of the 319 Companies
in the Global Medical Devices industry.

( Industry Median: 0.07 vs. IVC: -4.61 )
Ranked among companies with meaningful ROA % only.
IVC' s ROA % Range Over the Past 10 Years
Min: -5.44  Med: 0.11 Max: 3.08
Current: -4.61
-5.44
3.08
ROC (Joel Greenblatt) % -8.24
IVC's ROC (Joel Greenblatt) % is ranked lower than
54% of the 316 Companies
in the Global Medical Devices industry.

( Industry Median: 3.61 vs. IVC: -8.24 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
IVC' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -30.76  Med: 0.92 Max: 23.37
Current: -8.24
-30.76
23.37
3-Year Revenue Growth Rate -8.30
IVC's 3-Year Revenue Growth Rate is ranked lower than
75% of the 224 Companies
in the Global Medical Devices industry.

( Industry Median: 3.80 vs. IVC: -8.30 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
IVC' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: -8.3  Med: 5 Max: 17.3
Current: -8.3
-8.3
17.3
3-Year EBITDA Growth Rate 61.00
IVC's 3-Year EBITDA Growth Rate is ranked higher than
92% of the 193 Companies
in the Global Medical Devices industry.

( Industry Median: 4.10 vs. IVC: 61.00 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
IVC' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: -39.8  Med: -0.6 Max: 82.9
Current: 61
-39.8
82.9
3-Year EPS without NRI Growth Rate -8.10
IVC's 3-Year EPS without NRI Growth Rate is ranked lower than
65% of the 190 Companies
in the Global Medical Devices industry.

( Industry Median: 2.40 vs. IVC: -8.10 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
IVC' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: -74.2  Med: 9.8 Max: 239.1
Current: -8.1
-74.2
239.1
GuruFocus has detected 5 Warning Signs with Invacare Corp $IVC.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» IVC's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q1 2016

IVC Guru Trades in Q1 2016

Joel Greenblatt 26,292 sh (New)
Barrow, Hanley, Mewhinney & Strauss 207,536 sh (New)
Jim Simons 344,000 sh (+208.52%)
Charles Brandes 111,330 sh (+53.08%)
HOTCHKIS & WILEY 1,410,905 sh (+14.94%)
Chuck Royce 920,650 sh (-31.42%)
» More
Q2 2016

IVC Guru Trades in Q2 2016

Mariko Gordon 1,286,495 sh (New)
Arnold Schneider 146,505 sh (New)
Charles Brandes 951,052 sh (+754.26%)
Barrow, Hanley, Mewhinney & Strauss 254,128 sh (+22.45%)
Joel Greenblatt Sold Out
HOTCHKIS & WILEY 1,397,105 sh (-0.98%)
Chuck Royce 872,850 sh (-5.19%)
Jim Simons 322,400 sh (-6.28%)
» More
Q3 2016

IVC Guru Trades in Q3 2016

Mariko Gordon 2,983,947 sh (+131.94%)
Charles Brandes 1,436,472 sh (+51.04%)
Chuck Royce 925,850 sh (+6.07%)
Barrow, Hanley, Mewhinney & Strauss 269,082 sh (+5.88%)
HOTCHKIS & WILEY 1,391,665 sh (-0.39%)
Arnold Schneider 136,505 sh (-6.83%)
Jim Simons 25,200 sh (-92.18%)
» More
Q4 2016

IVC Guru Trades in Q4 2016

Charles Brandes 1,921,649 sh (+33.78%)
Chuck Royce 1,084,730 sh (+17.16%)
Barrow, Hanley, Mewhinney & Strauss 305,349 sh (+13.48%)
Jim Simons Sold Out
Mariko Gordon 2,972,948 sh (-0.37%)
HOTCHKIS & WILEY 1,385,495 sh (-0.44%)
Arnold Schneider 127,525 sh (-6.58%)
» More
» Details

Insider Trades

Latest Guru Trades with IVC

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

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Business Description

Industry: Medical Devices » Medical Devices    NAICS: 339113    SIC: 3842
Compare:NAS:XENT, NAS:AXGN, NAS:EXAC, NAS:ELOS, OTCPK:MZRTF, NAS:ARAY, NAS:GNMK, OTCPK:NMRD, NAS:CUTR, NAS:TCMD, NAS:VRAY, OTCPK:IPDQF, NYSE:CRY, NAS:RTIX, NAS:IRIX, NAS:PAVM, NAS:OBLN, NAS:ACRX, NAS:CGNT, NAS:FONR » details
Traded in other countries:IV3.Germany,
Invacare Corp designs, manufactures and distributes health care products including medical equipment for the non-acute care environment, including the home health care, retail and continuing care markets.

Invacare Corp was incorporated under the laws of the State of Ohio in 1971. The Company manufactures and distributes in various markets for medical equipment used in the home and long-term care settings based upon its distribution channels, breadth of product line and net sales. It also designs, manufactures and distributes an extensive line of health care products for the non-acute care environment, including the home health care and extended care markets. The Company sells its products to home health care and medical equipment providers, distributors and government locations in the United States, Europe, Canada, New Zealand, Australia and Asia. Its products are sold through the distribution network by its sales force, telesales associates and independent manufacturers' representatives and distributors. The Company operates in four primary business segments; North America/Home Medical Equipment or North America/HME, Institutional Products Group (IPG), Europe and Asia/Pacific. The North America/HME segment sells each of three primary product lines, which includes; lifestyle, mobility and seating and respiratory therapy products. IPG sells or rents long-term care medical equipment, health care furnishings and accessory products. Europe and Asia/Pacific sell product lines similar to North America/HME and IPG. Each business segment sells to the home health care, retail and extended care markets. The Company purchases raw materials, fabricated components, some finished goods and services from a variety of suppliers. Raw materials such as plastics, steel and aluminum are considered key raw materials. The Company's North America/HME sales and marketing organization consists of a sales force which markets and sells Invacare branded products to HME providers. It also holds patent and other intellectual property licenses from third parties for some of its products and on technologies that are necessary in the design and manufacture of some of the Company's products. The Company is directly affected by government regulation and reimbursement policies in virtually every country in which the Company operates.

Ratios

vs
industry
vs
history
PB Ratio 0.94
IVC's PB Ratio is ranked higher than
88% of the 321 Companies
in the Global Medical Devices industry.

( Industry Median: 3.17 vs. IVC: 0.94 )
Ranked among companies with meaningful PB Ratio only.
IVC' s PB Ratio Range Over the Past 10 Years
Min: 0.55  Med: 1.04 Max: 1.72
Current: 0.94
0.55
1.72
PS Ratio 0.37
IVC's PS Ratio is ranked higher than
94% of the 307 Companies
in the Global Medical Devices industry.

( Industry Median: 3.29 vs. IVC: 0.37 )
Ranked among companies with meaningful PS Ratio only.
IVC' s PS Ratio Range Over the Past 10 Years
Min: 0.26  Med: 0.42 Max: 0.75
Current: 0.37
0.26
0.75
Shiller PE Ratio 230.43
IVC's Shiller PE Ratio is ranked lower than
92% of the 49 Companies
in the Global Medical Devices industry.

( Industry Median: 49.62 vs. IVC: 230.43 )
Ranked among companies with meaningful Shiller PE Ratio only.
IVC' s Shiller PE Ratio Range Over the Past 10 Years
Min: 25.93  Med: 55.67 Max: 1513
Current: 230.43
25.93
1513
Current Ratio 1.85
IVC's Current Ratio is ranked lower than
67% of the 313 Companies
in the Global Medical Devices industry.

( Industry Median: 2.45 vs. IVC: 1.85 )
Ranked among companies with meaningful Current Ratio only.
IVC' s Current Ratio Range Over the Past 10 Years
Min: 1.4  Med: 1.87 Max: 2.51
Current: 1.85
1.4
2.51
Quick Ratio 1.24
IVC's Quick Ratio is ranked lower than
68% of the 313 Companies
in the Global Medical Devices industry.

( Industry Median: 1.79 vs. IVC: 1.24 )
Ranked among companies with meaningful Quick Ratio only.
IVC' s Quick Ratio Range Over the Past 10 Years
Min: 0.86  Med: 1.27 Max: 1.9
Current: 1.24
0.86
1.9
Days Inventory 67.52
IVC's Days Inventory is ranked higher than
81% of the 281 Companies
in the Global Medical Devices industry.

( Industry Median: 130.88 vs. IVC: 67.52 )
Ranked among companies with meaningful Days Inventory only.
IVC' s Days Inventory Range Over the Past 10 Years
Min: 53.38  Med: 63.09 Max: 67.52
Current: 67.52
53.38
67.52
Days Sales Outstanding 40.53
IVC's Days Sales Outstanding is ranked higher than
86% of the 266 Companies
in the Global Medical Devices industry.

( Industry Median: 66.78 vs. IVC: 40.53 )
Ranked among companies with meaningful Days Sales Outstanding only.
IVC' s Days Sales Outstanding Range Over the Past 10 Years
Min: 40.53  Med: 51.7 Max: 64.57
Current: 40.53
40.53
64.57
Days Payable 42.16
IVC's Days Payable is ranked lower than
64% of the 254 Companies
in the Global Medical Devices industry.

( Industry Median: 58.05 vs. IVC: 42.16 )
Ranked among companies with meaningful Days Payable only.
IVC' s Days Payable Range Over the Past 10 Years
Min: 34.47  Med: 46.95 Max: 55.1
Current: 42.16
34.47
55.1

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield % 0.40
IVC's Dividend Yield % is ranked lower than
90% of the 188 Companies
in the Global Medical Devices industry.

( Industry Median: 1.74 vs. IVC: 0.40 )
Ranked among companies with meaningful Dividend Yield % only.
IVC' s Dividend Yield % Range Over the Past 10 Years
Min: 0.15  Med: 0.28 Max: 0.55
Current: 0.4
0.15
0.55
Forward Dividend Yield % 0.41
IVC's Forward Dividend Yield % is ranked lower than
92% of the 177 Companies
in the Global Medical Devices industry.

( Industry Median: 1.74 vs. IVC: 0.41 )
Ranked among companies with meaningful Forward Dividend Yield % only.
N/A
5-Year Yield-on-Cost % 0.40
IVC's 5-Year Yield-on-Cost % is ranked lower than
88% of the 225 Companies
in the Global Medical Devices industry.

( Industry Median: 2.02 vs. IVC: 0.40 )
Ranked among companies with meaningful 5-Year Yield-on-Cost % only.
IVC' s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 0.15  Med: 0.28 Max: 0.55
Current: 0.4
0.15
0.55
3-Year Average Share Buyback Ratio -0.50
IVC's 3-Year Average Share Buyback Ratio is ranked higher than
72% of the 199 Companies
in the Global Medical Devices industry.

( Industry Median: -3.90 vs. IVC: -0.50 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
IVC' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -1.2  Med: -0.5 Max: 0.4
Current: -0.5
-1.2
0.4

Valuation & Return

vs
industry
vs
history
Price-to-Tangible-Book 6.39
IVC's Price-to-Tangible-Book is ranked lower than
66% of the 283 Companies
in the Global Medical Devices industry.

( Industry Median: 4.24 vs. IVC: 6.39 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
IVC' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 5.02  Med: 6.98 Max: 31.43
Current: 6.39
5.02
31.43
Price-to-Intrinsic-Value-Projected-FCF 0.98
IVC's Price-to-Intrinsic-Value-Projected-FCF is ranked higher than
85% of the 123 Companies
in the Global Medical Devices industry.

( Industry Median: 2.11 vs. IVC: 0.98 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
IVC' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 0.39  Med: 0.79 Max: 1.82
Current: 0.98
0.39
1.82
Price-to-Median-PS-Value 0.90
IVC's Price-to-Median-PS-Value is ranked higher than
60% of the 262 Companies
in the Global Medical Devices industry.

( Industry Median: 0.99 vs. IVC: 0.90 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
IVC' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.67  Med: 1.46 Max: 2.53
Current: 0.9
0.67
2.53
Earnings Yield (Greenblatt) % -3.11
IVC's Earnings Yield (Greenblatt) % is ranked lower than
56% of the 337 Companies
in the Global Medical Devices industry.

( Industry Median: -0.30 vs. IVC: -3.11 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
IVC' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: -3.11  Med: 6.5 Max: 10.9
Current: -3.11
-3.11
10.9
Forward Rate of Return (Yacktman) % -16.68
IVC's Forward Rate of Return (Yacktman) % is ranked lower than
93% of the 123 Companies
in the Global Medical Devices industry.

( Industry Median: 8.88 vs. IVC: -16.68 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
IVC' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -21.7  Med: 8.5 Max: 20.4
Current: -16.68
-21.7
20.4

More Statistics

Revenue (TTM) (Mil) $1,047
EPS (TTM) $ -1.32
Beta2.40
Short Percentage of Float19.60%
52-Week Range $8.00 - 14.06
Shares Outstanding (Mil)32.45
» More Articles for IVC

Headlines

Articles On GuruFocus.com
Stakes Charles Brandes Continues to Increase Nov 14 2016 
Mariko Gordon Invested in 5 Companies in 2nd Quarter Aug 21 2016 
Royce Micro-Cap Discovery Fund Shareholder Letter Sep 20 2015 
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 

More From Other Websites
Invacare Declares Quarterly Dividend Feb 21 2017
Invacare Corp. :IVC-US: Earnings Analysis: Q4, 2016 By the Numbers : February 15, 2017 Feb 15 2017
Invacare Corp. :IVC-US: Earnings Analysis: 2016 By the Numbers : February 13, 2017 Feb 13 2017
Edited Transcript of IVC earnings conference call or presentation 9-Feb-17 1:30pm GMT Feb 09 2017
INVACARE CORP Files SEC form 8-K, Results of Operations and Financial Condition, Financial... Feb 09 2017
Q4 2016 Invacare Corp Earnings Release - Before Market Open Feb 09 2017
Invacare reports 4Q loss Feb 09 2017
Invacare reports 4Q loss Feb 09 2017
Invacare Corporation Announces Financial Results for the Fourth Quarter and Full Year Ended December... Feb 09 2017
INVACARE CORP Files SEC form 8-K, Costs Associated with Exit or Disposal Activities Jan 31 2017
Invacare Corporation Announces Expiration of Put Option for 4.125% Convertible Senior Subordinated... Jan 31 2017
Invacare Corporation Announces Reduction in Force as Part of Its Ongoing Transformation Jan 31 2017
Invacare Corporation to Host Conference Call and Webcast to Discuss Fourth Quarter and Year End 2016... Jan 24 2017
Invacare Corporation Announces Put Option Notification for 4.125% Convertible Senior Subordinated... Jan 03 2017
Invacare Corporation Announces Put Option Notification for 4.125% Convertible Senior Subordinated... Dec 23 2016
Invacare Corporation to Present at J.P. Morgan Healthcare Conference Dec 20 2016
Is Invacare Corporation (IVC) Going to Burn These Hedge Funds? Dec 05 2016
ETFs with exposure to Invacare Corp. : December 2, 2016 Dec 02 2016
INVACARE CORP Files SEC form 8-K, Entry into a Material Definitive Agreement, Financial Statements... Nov 30 2016
INVACARE CORP Files SEC form 8-K, Change in Directors or Principal Officers, Financial Statements... Nov 28 2016

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