IVCRQ · Invacare Holdings Corp - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Annual Quarterly

Income Statement

Line item	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Revenue	$741.73M	$872.46M	$850.69M	$927.96M	$972.35M	$966.50M
Cost of Revenue	$566.34M	$633.35M	$605.44M	$665.90M	$704.67M	$697.25M
Gross Profit	$175.39M	$239.11M	$245.25M	$262.07M	$267.68M	$269.25M
R&D	$3.49M	$8.66M	$12.28M	$15.84M	$17.38M	$17.80M
SG&A	$226.78M	$232.24M	$236.36M	$260.06M	$281.91M	$296.82M
Total Operating Expenses	-	-	-	-	-	-
D&A	$15.49M	$16.82M	$14.32M	$15.56M	$15.56M	$14.63M
Operating Income	($80.47M)	($24.23M)	$11.33M	($10.41M)	($18.29M)	($40.16M)
Interest Expense	$28.52M	$24.31M	$28.50M	$29.08M	$28.34M	$22.91M
Income Tax	$3.07M	$6.45M	$3.84M	$9.30M	$9.82M	$10.29M
Net Income	($101.07M)	($45.56M)	($28.28M)	($53.33M)	($43.92M)	($76.54M)
EPS - Basic	($2.77)	($1.31)	($0.83)	($1.59)	($1.33)	($2.34)
EPS - Diluted	($2.77)	($1.31)	($0.83)	($1.59)	($1.33)	($2.34)

Balance Sheet

Line item	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Cash & Equivalents	$58.79M	$83.75M	$105.30M	$80.06M	$116.91M	$176.53M
Accounts Receivable	$87.95M	$117.11M	$108.59M	$116.67M	$119.74M	$125.61M
Inventory	$112.56M	$144.27M	$115.48M	$120.50M	$128.12M	$121.93M
Accounts Payable	$104.59M	$130.04M	$85.42M	$88.00M	$92.47M	$90.57M
Current Assets	$299.32M	$385.39M	$374.47M	$355.88M	$397.41M	$456.91M
Total Assets	$770.97M	$909.53M	$945.98M	$852.13M	$885.86M	$1.07B
Current Liabilities	$220.13M	$247.25M	$230.39M	$218.66M	$198.21M	$218.06M
Long-term Debt	$354.09M	$305.02M	$239.44M	$219.46M	$253.53M	$241.41M
Total Liabilities	-	-	-	-	-	-
Stockholders' Equity	$81.09M	$218.49M	$333.85M	$308.52M	$359.15M	$423.29M
Retained Earnings	($78.43M)	$22.64M	$58.54M	$87.47M	$142.45M	$188.00M

Cash Flow

Line item	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Operating Cash Flow	($55.25M)	($14.31M)	$21.92M	($25.77M)	($46.42M)	($25.77M)
Investing Cash Flow	($4.32M)	($17.80M)	($9.55M)	($11.61M)	($6.36M)	($14.65M)
Financing Cash Flow	$38.32M	$12.87M	$6.26M	($27.94M)	($2.92M)	$88.10M
CapEx	$3.78M	$17.70M	$22.30M	$10.87M	$9.82M	$14.57M
Free Cash Flow	($59.03M)	($32.01M)	($387.0K)	($36.65M)	($56.25M)	($40.34M)

Ratios

Metric	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Profitability
Gross margin	23.6%	27.4%	28.8%	28.2%	27.5%	27.9%
Operating margin	-10.8%	-2.8%	1.3%	-1.1%	-1.9%	-4.2%
EBITDA margin	-8.8%	-0.8%	3.0%	0.6%	-0.3%	-2.6%
Net margin	-13.6%	-5.2%	-3.3%	-5.7%	-4.5%	-7.9%
Free cash flow margin	-8.0%	-3.7%	-0.0%	-3.9%	-5.8%	-4.2%
FCF / Net income	0.58	0.70	0.01	0.69	1.28	0.53
R&D / Revenue	0.5%	1.0%	1.4%	1.7%	1.8%	1.8%
SG&A / Revenue	30.6%	26.6%	27.8%	28.0%	29.0%	30.7%
Effective tax rate	-	-	-	-	-	-
Return on assets	-13.1%	-5.0%	-3.0%	-6.3%	-5.0%	-7.2%
Return on equity	-124.6%	-20.9%	-8.5%	-17.3%	-12.2%	-18.1%
Return on invested capital	-14.6%	-3.7%	1.6%	-1.6%	-2.4%	-4.8%
Liquidity
Current ratio	1.36	1.56	1.63	1.63	2.01	2.10
Quick ratio	0.85	0.98	1.12	1.08	1.36	1.54
Cash ratio	0.27	0.34	0.46	0.37	0.59	0.81
Leverage
Debt / Equity	4.37	1.40	0.72	0.71	0.71	0.57
Debt / Assets	0.46	0.34	0.25	0.26	0.29	0.23
Debt / EBITDA	-	-	9.34	42.59	-	-
Interest coverage	-2.8x	-1.0x	0.4x	-0.4x	-0.6x	-1.8x
Equity multiplier	9.51	4.16	2.83	2.76	2.47	2.52
Liabilities / Assets	-	-	-	-	-	-
Efficiency
Asset turnover	0.96	0.96	0.90	1.09	1.10	0.91
Inventory turnover	5.03	4.39	5.24	5.53	5.50	5.72
Days sales outstanding	43d	49d	47d	46d	45d	47d
Days inventory outstanding	73d	83d	70d	66d	66d	64d
Days payable outstanding	67d	75d	51d	48d	48d	47d
Cash conversion cycle	48d	57d	65d	64d	63d	64d
Valuation
P / E	-	-	-	-	-	-
P / B	-	-	-	-	-	-
P / S	-	-	-	-	-	-
EV / EBITDA	-	-	-	-	-	-
Growth
Revenue growth (YoY)	-15.0%	2.6%	-8.3%	-4.6%	0.6%	-7.7%
Revenue CAGR (3y)	-7.2%	-3.5%	-4.2%	-4.0%	-5.2%	-11.9%
Revenue CAGR (5y)	-5.2%	-3.6%	-5.7%	-8.1%	-6.4%	-7.9%
Gross profit growth (YoY)	-26.6%	-2.5%	-6.4%	-2.1%	-0.6%	-5.1%
Operating income growth (YoY)	-232.0%	-	-	43.1%	54.4%	-163.9%
Net income growth (YoY)	-121.8%	-61.1%	47.0%	-21.4%	42.6%	-78.6%
EPS growth (YoY)	-111.5%	-57.8%	47.8%	-19.5%	43.2%	-77.3%
EPS CAGR (3y)	-	-	-	-	-	-
EPS CAGR (5y)	-	-	-	-	-	-
FCF growth (YoY)	-84.4%	-8170.5%	98.9%	34.8%	-39.4%	39.6%
FCF CAGR (5y)	-	-	-	-	-	-
Book value growth (YoY)	-62.9%	-34.6%	8.2%	-14.1%	-15.2%	0.2%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2021-12-31.

Business segments

$872.46M total

Europe EMEA$499.12M · 57.2%

North America NA$340.98M · 39.1%

All Other$32.36M · 3.7%

Product / service

$998.24M total

Product$486.19M · 48.7%

Lifestyle Products$248.32M · 24.9%

Mobility And Seating$214.40M · 21.5%

Respiratory Therapy$19.35M · 1.9%

Other Products And Services$17.05M · 1.7%

Service$12.93M · 1.3%

Stability scores

Piotroski F-score

FY 2022 · 9-point quality

2/9

Weak

✗Net income positive
✗Operating cash flow positive
✗ROA improved YoY
✓Cash flow > net income
✗Long-term debt decreased
✗Current ratio improved
✗No share dilution
✗Gross margin improved
✓Asset turnover improved

Peer comparison

Same SIC group: Orthopedic, Prosthetic & Surgical Appliances & Supplies

Company	Revenue (last FY)	Net margin	ROE
ISRG	$10.06B	28.4%	16.0%
EW	$6.07B	17.7%	10.4%
ZBH	$8.23B	8.6%	5.6%
ENOV	$2.25B	-52.7%	-79.5%
MSA	$1.87B	14.9%	20.4%

Comparing INVACARE HOLDINGS Corp against the 5 most active filers in the same SIC group.