Capitalcube gives pdvWireless, Inc. a score of 17.
Our analysis is based on comparing pdvWireless, Inc. with the following peers – SBA Communications Corporation, T-Mobile US, Inc., Gogo Inc. and United States Cellular Corporation (SBAC-US, TMUS-US, GOGO-US and USM-US).
pdvWireless, Inc. has a fundamental score of 17 and has a relative valuation of OVERVALUED.
Access our research and ratings on pdvWireless, Inc.
- Considering peers, relative underperformance over the last year and the last month suggest a lagging position.
- pdvWireless, Inc. trades at a lower Price/Book multiple (1.39) than its peer median (2.00).
- PDVW-US‘s earnings and EBITDA are both negative which suggest that P/E or Price/EBITDA are not meaningful to make this analysis between operating advantage (ROE) and growth expectations (as suggested by P/E or P/EBITDA).
- PDVW-US‘s relatively low net margins and poor asset turns suggest a problematic operating strategy.
- Changes in annual revenues (relative to peers) are better than the change in its earnings (relative to peers), implying the company is focused more on revenues.
- PDVW-US‘s return on assets currently and over the past five years has trailed the peer median and suggests the company might be operationally challenged relative to its peers.
- The company’s relatively low gross and pre-tax margins suggest a non-differentiated product portfolio and not much control on operating costs relative to peers.
- PDVW-US‘s operating performance may not allow it to raise additional debt.
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Leverage & Liquidity
PDVW-US would seem to have a hard time raising additional debt.
- With debt at a relatively low 0.52% of its enterprise value compared to an overall benchmark of 25% (Note: The peer median is currently 40.58%), and relatively tight interest coverage level of -5,215.12x, PDVW-US would have a hard time raising much additional debt. Thus, the company is classified as having Limited Flexibility when it comes to raising more debt.
- All 4 peers for the company have an outstanding debt balance.
PDVW-US has maintained its Constrained profile from the recent year-end.
- PDVW-US‘s interest coverage has increased 2,036.79 points from last year’s low but is still below its five-year average interest coverage of -2,427.08.
- While its interest coverage increased to -5,215.12x from -7,251.91x (in 2016), its peer median decreased during this period to 0.07x from 0.77x.
- Interest coverage rose 2,037.49 points relative to peers.
- PDVW-US‘s debt-EV is its highest relative to the last five years and compares to a low of 0% in 2015.
- Though its debt-EV has remained relatively stable at 0.52% compared to 2016, its peer median has increased to 40.58% from 37.45% during this period.
- Relative to peers, debt-EV fell 2.91 percentage points. Unlike the peer median, it is also below the 25% leverage benchmark.
Access the detailed analysis for pdvWireless, Inc.
Key Liquidity Items
|Company||Debt/Enterprise Value (%)||Current Ratio||Interest Coverage (x)||Cash Flow To Total Debt (%)|
|SBA Communications Corporation||40.58||1.16||1.16||8.65|
|T-Mobile US, Inc.||47.82||1.67||1.61||25.29|
|United States Cellular Corporation||40.28||2.31||0.07||49.69|
|Best In Class||0.52||32.44||1.61||49.69|
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pdvWireless, Inc. engages in the provision of mobile workforce communications and location based solutions. It also involves in location based solutions focused on increasing the productivity of customers’ field-based workers and efficiency of dispatch and call center operations. The company was founded by Peter Joel Lasensky and Richard Edward Rohmann in 1997 and is headquartered in Woodland Park, NJ.
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