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Cardiovascular Systems Financial Ratios 2022-2009 | CSII
Brief overview of Cardiovascular Systems's multiples and efficiency
The review covers five available annual periods spanning 2018 to 2022.
Key multiples at the end of the period are EV/EBITDA 541.08x (median 249.57x), P/S 2.55x (median 5.09x), P/B 2.41x (median 5.27x). The combined multiple level is about 24% below the company's historical norm, suggesting more cautious expectations.
Returns on assets and capital are represented by ROE -14.8%, ROA -11.4%, ROCE -14.4%. Returns below zero mean resources are not producing positive profit. Recovery in operating results is the main reference point.
Current PEG is 0.1x; the market pays comparatively little per unit of expected growth.
The cash cycle accelerated by 65.8 days to 172.2 days. Less capital is tied up in operations.
Overall picture
Cardiovascular Systems trades below its own history, but weak profitability may explain the discount. Low multiples alone do not prove undervaluation.
Annual Financial Ratios Cardiovascular Systems
| 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
P/E |
-16.3 | -60.9 | -52.0 | -4947.5 | 2382.8 | -1864.0 | 886.0 | -17.4 | -202.4 | -87.7 | -49.4 | -12.9 | - | - |
P/S |
2.5 | 3.2 | 6.0 | 5.1 | 19.5 | 14.6 | 5.2 | 1.5 | 7.8 | 7.3 | 3.5 | 1.8 | - | - |
EPS |
-0.9 | -0.3 | -0.8 | -0.1 | 0.0 | -0.0 | 0.0 | -0.5 | -0.2 | -0.3 | -0.3 | -0.7 | -1.6 | - |
EV (Enterprise Value) |
609 M | 828 M | 1.3 B | 1.26 B | 1.12 B | 737 M | 905 M | 212 M | 970 M | 721 M | 281 M | 148 M | -23.7 M | -33.4 M |
EBITDA per Share |
-0.82 | -0.23 | -0.7 | 0.07 | 0.18 | 0.07 | -1.61 | -0.97 | -1.14 | -1.03 | -0.8 | -0.55 | -1.55 | - |
EV/EBITDA |
-19.0 | -93.7 | -54.6 | 541.1 | 188.6 | 310.5 | -17.3 | -6.9 | -30.1 | -32.3 | -19.5 | -16.9 | 1.0 | - |
PEG |
0.1 | 0.26 | 0.25 | -578.64 | 104.02 | 672.88 | 32.58 | -15.94 | 1.82 | 0.92 | 0.3 | -0.38 | - | - |
P/B |
2.4 | 3.0 | 5.3 | 8.5 | 8.7 | 6.5 | 9.2 | 1.9 | 7.0 | 11.4 | 8.9 | 6.7 | - | - |
P/CF |
-24.8 | -925.1 | -110.9 | 123.6 | 121.2 | 39.3 | -39.2 | -11.8 | -39.8 | -70.5 | -25.1 | -17.2 | - | - |
ROE % |
-14.80 | -4.95 | -10.13 | -0.17 | 0.37 | -0.35 | 1.03 | -10.87 | -3.47 | -12.95 | -17.92 | -51.42 | -134.94 | - |
ROA % |
-11.45 | -3.81 | -8.02 | -0.12 | 0.24 | -0.21 | 0.73 | -8.85 | -2.90 | -8.94 | -9.14 | -23.79 | - | - |
ROCE % |
-14.35 | -4.40 | -9.96 | -0.47 | 1.35 | -1.01 | -52.45 | -23.07 | -22.01 | -30.10 | -31.95 | -27.90 | -129.26 | - |
Current Ratio |
4.4 | 4.3 | 4.8 | 3.1 | 3.0 | 2.6 | 3.4 | 5.4 | 6.1 | 3.2 | 2.0 | 1.9 | - | - |
DSO |
61.6 | 46.0 | 47.2 | 49.5 | 181.0 | 178.9 | 55.3 | 52.5 | 48.2 | 49.8 | 59.5 | 30.7 | - | - |
DIO |
192.4 | 179.2 | 171.3 | 132.7 | 154.9 | 158.9 | 179.7 | 129.0 | 151.6 | 93.5 | 134.1 | 130.5 | - | - |
DPO |
81.8 | 76.4 | 85.1 | 82.8 | 97.9 | 89.0 | 87.7 | 90.2 | 149.3 | 108.2 | 106.6 | 116.2 | - | - |
Operating Cycle |
254.0 | 225.2 | 218.5 | 182.2 | 335.8 | 337.8 | 235.0 | 181.5 | 199.8 | 143.3 | 193.6 | 161.2 | - | - |
Cash Conversion Cycle |
172.2 | 148.7 | 133.4 | 99.3 | 237.9 | 248.8 | 147.3 | 91.3 | 50.5 | 35.1 | 87.1 | 45.0 | - | - |
All numbers in USD currency
Quarterly Financial Ratios Cardiovascular Systems
| 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPS |
-0.2 | -0.27 | -0.2 | -0.25 | -0.23 | -0.22 | -0.23 | -0.22 | -0.15 | -0.15 | - | -0.05 | -0.1 | -0.17 | -0.1 | 0.02 | 0.01 | -0.09 | 0.01 | 0.01 | -0.01 | -0.06 | -0.01 | -0.05 | 0.03 | -0.06 | 0.03 | -0.69 | -0.47 | -0.41 | -0.47 | -0.34 | -0.17 | -0.26 | -0.17 | -0.32 | -0.32 | -0.29 | -0.32 | -0.29 | -0.28 | -0.26 | -0.28 | -0.23 | -0.23 | -0.22 | -0.23 | -0.22 | -0.23 | -0.22 |
EBITDA per Share |
-0.17 | -0.25 | -0.21 | -0.17 | -0.17 | -0.18 | -0.21 | -0.18 | -0.09 | -0.14 | 0.02 | -0.02 | -0.06 | -0.15 | -0.09 | 0.09 | 0.06 | -0.06 | 0.01 | 0.1 | 0.05 | -0.02 | -0.01 | 0.04 | 0.09 | -0.03 | 0.03 | -0.61 | -0.41 | -0.38 | -0.47 | -0.29 | -0.14 | -0.25 | -0.17 | -0.31 | -0.27 | -0.28 | -0.28 | -0.25 | -0.24 | -0.25 | -0.25 | -0.2 | -0.2 | -0.17 | -0.21 | -0.17 | -0.22 | -0.18 |
ROE % |
-14.79 | -14.95 | -13.83 | -13.99 | -13.46 | -12.22 | -12.22 | -8.79 | -6.29 | -6.44 | -7.24 | -9.59 | -8.34 | -5.61 | -3.70 | -0.97 | -1.16 | -1.85 | -1.34 | -2.02 | -3.85 | -2.59 | -2.75 | -1.48 | -22.26 | -35.70 | -44.05 | -57.48 | -42.62 | -33.68 | -29.07 | -20.12 | -18.87 | -20.86 | -26.49 | -28.48 | -31.15 | -45.38 | -52.19 | -66.42 | -79.20 | -78.31 | -76.86 | -75.96 | -70.82 | -71.05 | -72.36 | -16.53 | -19.11 | -17.84 |
ROA % |
-11.45 | -11.67 | -10.85 | -11.07 | -10.68 | -9.67 | -9.52 | -6.78 | -4.80 | -4.58 | -4.80 | -6.30 | -5.38 | -3.62 | -2.40 | -0.65 | -0.78 | -1.23 | -0.83 | -1.29 | -2.41 | -1.53 | -1.84 | -0.96 | -15.69 | -26.38 | -33.20 | -43.88 | -34.19 | -27.08 | -23.42 | -16.31 | -15.58 | -17.45 | -20.60 | -22.47 | -23.51 | -28.91 | -29.91 | -35.31 | -37.44 | -35.21 | -34.53 | -32.30 | -31.88 | -32.77 | -33.04 | -7.99 | -8.84 | -8.25 |
ROCE % |
-15.43 | -15.17 | -13.75 | -13.48 | -12.76 | -11.55 | -10.62 | -7.22 | -4.75 | -5.02 | -7.04 | -9.50 | -8.53 | -5.90 | -3.93 | -1.30 | -1.27 | -1.77 | -1.02 | -1.52 | -3.45 | -2.27 | -2.62 | -1.43 | -22.21 | -35.67 | -43.99 | -57.44 | -42.49 | -33.55 | -28.93 | -19.99 | -18.74 | -19.99 | -24.10 | -25.35 | -26.06 | -34.16 | -37.30 | -45.40 | -49.60 | -46.40 | -42.98 | -39.77 | -38.06 | -39.95 | -40.44 | -9.33 | -11.59 | -9.82 |
Current Ratio |
4.3 | 4.5 | 4.3 | 4.6 | 4.9 | 4.8 | 4.9 | 4.8 | 4.5 | 4.3 | 4.7 | 4.7 | 2.8 | 2.9 | 2.8 | 3.0 | 3.0 | 3.0 | 3.0 | 2.9 | 2.9 | 2.7 | 2.9 | 2.5 | 3.4 | 3.9 | 3.4 | 3.4 | 5.0 | 5.1 | 5.0 | 5.0 | 5.6 | 5.4 | 5.6 | 6.4 | 7.3 | 3.2 | 7.3 | 3.4 | 2.1 | 1.9 | 2.1 | 1.6 | 1.7 | 1.9 | 1.7 | 1.9 | 1.9 | 1.9 |
DSO |
59.8 | 61.5 | 55.6 | 56.5 | 55.1 | 55.8 | 55.1 | 58.2 | 56.3 | 52.3 | 44.4 | 49.6 | 47.0 | 49.9 | 47.3 | 46.8 | 45.6 | 48.8 | 46.9 | 48.5 | 41.8 | 44.7 | 48.3 | 48.9 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
DIO |
195.6 | 216.2 | 183.0 | 199.1 | 163.6 | 206.6 | 163.6 | 212.0 | 213.8 | 211.0 | 202.1 | 183.8 | 136.2 | 147.5 | 135.6 | 146.2 | 150.2 | 163.0 | 145.8 | 148.4 | 136.9 | 148.6 | 163.3 | 162.5 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
DPO |
83.6 | 92.5 | 75.8 | 80.5 | 64.1 | 81.0 | 64.1 | 81.5 | 87.0 | 90.3 | 88.8 | 108.9 | 98.7 | 106.8 | 96.3 | 95.2 | 103.4 | 112.2 | 90.8 | 84.4 | 81.1 | 88.0 | 89.0 | 81.5 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Cycle |
- | - | 255.3 | 259.2 | 115.5 | 255.5 | 218.7 | 268.4 | 122.2 | 263.4 | 246.5 | 248.1 | 209.6 | 219.7 | 183.3 | 185.2 | 168.2 | 182.5 | 195.8 | 199.6 | 179.3 | 194.6 | 213.2 | 219.5 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash Conversion Cycle |
- | - | 171.7 | 174.2 | 79.2 | 175.1 | 154.5 | 182.4 | 82.5 | 173.1 | 157.7 | 157.4 | 128.4 | 108.5 | 84.6 | 97.7 | 93.8 | 95.4 | 92.4 | 98.5 | 96.3 | 107.7 | 115.3 | 113.3 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Multiples are an important financial analysis tool for the company Cardiovascular Systems, allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.
Advantages of Using Financial Ratios- Simplified Data Analysis
Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition. - Comparability Between Companies
Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations. - Identification of Trends and Issues
Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks. - Decision Support
Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions. - Accelerated Assessment of Investment Attractiveness
Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.
Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.
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