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Sierra Wireless

Sierra Wireless's net profit fell 80.4% yoy to USD -89.0 mil in 2021

By Helgi Analytics - September 21, 2022

Sierra Wireless made a net profit of USD -89.0 mil with revenues of USD 473 mil in 2021, down by 80.4% and up by 5.49%,...

Sierra Wireless's price/earnings (P/E) rose 31.8% yoy to -7.35 in 2021

By Helgi Analytics - September 21, 2022

Sierra Wireless stock traded at USD 17.6 per share at the end 2021 translating into a market capitalization of USD 654 mil. Since...

Sierra Wireless's P/FCF fell 218% yoy to -6.76 in 2021

By Helgi Analytics - September 21, 2022

Sierra Wireless stock traded at USD 17.6 per share at the end 2021 translating into a market capitalization of USD 654 mil. Si...

Profit Statement 2019 2020 2021
Sales USD mil 547 449 473
Gross Profit USD mil 197 159 157
EBITDA USD mil -22.5 -48.6 -45.1
EBIT USD mil -64.3 -88.0 -79.5
Financing Cost USD mil 0.269 0.818 0.315
Pre-Tax Profit USD mil -65.8 -82.1 -88.7
Net Profit USD mil -70.5 -49.3 -89.0
Dividends USD mil 0 0 0
Balance Sheet 2019 2020 2021
Total Assets USD mil 639 601 547
Non-Current Assets USD mil 355 317 275
Current Assets USD mil 284 285 272
Working Capital USD mil 59.2 15.1 39.7
Shareholders' Equity USD mil 381 356 278
Liabilities USD mil 258 245 269
Total Debt USD mil 74.7 70.2 69.9
Net Debt USD mil 3.57 -90.3 -6.92
Ratios 2019 2020 2021
ROE % -17.1 -13.4 -28.1
ROCE % -15.6 -13.2 -27.5
Gross Margin % 36.1 35.4 33.1
EBITDA Margin % -4.11 -10.8 -9.53
EBIT Margin % -11.7 -19.6 -16.8
Net Margin % -12.9 -11.0 -18.8
Net Debt/EBITDA -0.159 1.86 0.154
Net Debt/Equity % 0.936 -25.3 -2.49
Cost of Financing % 0.456 1.13 0.450
Valuation 2019 2020 2021
Market Capitalisation USD mil 348 532 654
Enterprise Value (EV) USD mil 352 441 647
Number Of Shares mil 36.2 36.4 37.1
Share Price USD 9.63 14.6 17.6
EV/EBITDA -15.6 -9.08 -14.4
EV/Sales 0.643 0.984 1.37
Price/Earnings (P/E) -4.94 -10.8 -7.35
Price/Book Value (P/BV) 0.913 1.49 2.36
Dividend Yield % 0 0 0

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overview Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
income statement                              
Sales USD mil         608 616 691 794 547            
Gross Profit USD mil         194 218 234 265 197            
EBIT USD mil         10.1 21.3 0.100 -18.3 -64.3            
Net Profit USD mil         -2.67 15.4 4.52 -24.6 -70.5            
                                 
ROE % ...       -0.748 4.27 1.09 -5.40 -17.1            
EBIT Margin %         1.66 3.47 0.014 -2.30 -11.7            
Net Margin %         -0.440 2.50 0.654 -3.10 -12.9            
Employees         1,089 554 1,425 1,400 1,280     ... ... ... ...
balance sheet                              
Total Assets USD mil         546 578 695 684 639            
Non-Current Assets USD mil         289 284 395 360 355            
Current Assets USD mil         257 294 300 324 284            
                                 
Shareholders' Equity USD mil         358 362 468 444 381            
Liabilities USD mil         188 217 227 240 258            
Non-Current Liabilities USD mil         56.0 44.1 44.5 49.4 73.8            
Current Liabilities USD mil         132 173 183 190 184            
                                 
Net Debt/EBITDA     ...   -1.63 -1.48 -0.927 -2.20 -0.159            
Net Debt/Equity %         -13.8 -19.4 -6.07 -10.3 0.936            
Cost of Financing % ...       0.434 0.184 0.459 0.391 0.456            
cash flow                              
Total Cash From Operations USD mil         16.8 47.4 -0.928 47.2 6.86            
Total Cash From Investing USD mil         -128 -26.6 -37.6 -16.0 -16.4            
Total Cash From Financing USD mil         -5.32 -13.7 -0.271 -5.93 -1.66            
Net Change In Cash USD mil         -113 8.84 -37.5 24.1 -10.2            
valuation                              
Market Capitalisation USD mil ... ... ... ... ... ... 678 506 348            
Enterprise Value (EV) USD mil ... ... ... ... ... ... 649 461 352            
Number Of Shares mil ... ... ... ... ... ... 32.9 36.0 36.2            
Share Price USD ... ... ... ... ... ... 20.6 14.1 9.63            
Price/Earnings (P/E) ... ... ... ... ... ... 150 -20.6 -4.94            
Price/Cash Earnings (P/CE) ... ... ... ... ... ... 36.5 -79.1 -6.42            
EV/EBITDA ... ... ... ... ... ... 21.2 22.1 -15.6            
Price/Book Value (P/BV) ... ... ... ... ... ... 1.45 1.14 0.913            
Dividend Yield % ... ... ... ... ... ... 0 0 0            
income statement Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
income statement                              
Sales USD mil         608 616 691 794 547            
Cost of Goods & Services USD mil         414 398 456 529 350            
Gross Profit USD mil         194 218 234 265 197            
Selling, General & Admin USD mil         94.5 105 118 150 134     ... ... ... ...
Research & Development USD mil         74.0 73.1 82.7 93.7 78.8     ... ... ... ...
Other Operating Expense USD mil         15.3 18.1 33.4 39.0 48.7     ... ... ... ...
Other Operating Cost (Income) USD mil         0 0 0 0 0     ... ... ... ...
EBITDA USD mil     ...   30.3 47.2 30.6 20.9 -22.5            
Depreciation USD mil ... ... ... ... 8.48 12.5 14.0 18.2 16.3            
EBIT USD mil         10.1 21.3 0.100 -18.3 -64.3            
Net Financing Cost USD mil         -0.115 -0.092 -0.086 -0.097 -0.160            
Financing Cost USD mil         0.154 0.071 0.159 0.156 0.269            
Financing Income USD mil         0.269 0.163 0.245 0.253 0.429     ... ... ... ...
FX (Gain) Loss USD mil         11.8 1.74 -7.55 5.47 1.22     ... ... ... ...
Extraordinary Cost USD mil         0 0 0 0 -4.13            
Pre-Tax Profit USD mil         -1.61 19.7 7.72 -23.7 -65.8            
Tax USD mil         1.06 4.31 3.20 0.916 8.88            
Minorities USD mil         0 0 0 0 0            
Net Profit USD mil         -2.67 15.4 4.52 -24.6 -70.5            
Net Profit Avail. to Common USD mil         -2.67 15.4 4.52 -24.6 -70.5            
Dividends USD mil         0 0 0 0 0            
growth rates                              
Total Revenue Growth % ...       10.8 1.28 12.2 14.9 -31.0            
Operating Cost Growth % ...       -0.987 6.89 19.2 20.8 -7.46     ... ... ... ...
EBITDA Growth % ...   ... ... 79.2 55.8 -35.2 -31.8 -208            
EBIT Growth % ...       -253 111 -99.5 -18,375 252            
Pre-Tax Profit Growth % ...       -91.1 -1,320 -60.8 -407 178            
Net Profit Growth % ...       -84.1 -675 -70.6 -645 187            
ratios                              
ROE % ...       -0.748 4.27 1.09 -5.40 -17.1            
ROA % ...       -0.504 2.74 0.710 -3.57 -10.7            
ROCE % ...       -0.928 4.30 1.02 -4.85 -15.6            
Gross Margin %         31.9 35.4 33.9 33.3 36.1            
EBITDA Margin %     ...   4.99 7.67 4.43 2.63 -4.11            
EBIT Margin %         1.66 3.47 0.014 -2.30 -11.7            
Net Margin %         -0.440 2.50 0.654 -3.10 -12.9            
Payout Ratio %         0 0 0 0 0            
Cost of Financing % ...       0.434 0.184 0.459 0.391 0.456            
Net Debt/EBITDA     ...   -1.63 -1.48 -0.927 -2.20 -0.159            
balance sheet Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
balance sheet                              
Cash & Cash Equivalents USD mil         93.9 103 65.0 89.1 71.2            
Receivables USD mil         116 144 173 172 78.6            
Inventories USD mil         32.8 40.9 53.1 50.8 36.3            
Other ST Assets USD mil         14.2 6.53 8.44 11.9 97.9            
Current Assets USD mil         257 294 300 324 284            
Property, Plant & Equipment USD mil         28.9 34.2 43.0 39.8 53.0            
LT Investments & Receivables USD mil         0 0 0 0 0            
Intangible Assets USD mil         241 229 327 296 224            
Goodwill USD mil         156 154 219 211 154            
Non-Current Assets USD mil         289 284 395 360 355            
Total Assets USD mil         546 578 695 684 639            
                                 
Trade Payables USD mil         81.9 109 94.8 94.1 55.8            
Short-Term Debt USD mil         0 0 0 0 6.17            
Other ST Liabilities USD mil         3.48 5.26 7.28 6.21 34.6            
Current Liabilities USD mil         132 173 183 190 184            
Long-Term Debt USD mil         44.4 32.7 36.6 43.3 68.6            
Other LT Liabilities USD mil         11.7 11.5 7.85 6.10 5.29            
Non-Current Liabilities USD mil         56.0 44.1 44.5 49.4 73.8            
Liabilities USD mil         188 217 227 240 258            
Preferred Equity and Hybrid Capital USD mil         0 0 0 0 0            
Share Capital USD mil         370 367 456 464 474            
Treasury Stock USD mil         4.02 5.13 3.22 1.97 0.370            
Equity Before Minority Interest USD mil         358 362 468 444 381            
Minority Interest USD mil         0 0 0 0 0            
Equity USD mil         358 362 468 444 381            
growth rates                              
Total Asset Growth % ...       6.01 5.88 20.1 -1.54 -6.52            
Shareholders' Equity Growth % ...       0.402 0.918 29.3 -5.00 -14.1            
Net Debt Growth % ...       -72.5 41.4 -59.5 61.6 -108            
Total Debt Growth % ...       66.7 -26.4 12.2 18.1 72.8            
ratios                              
Total Debt USD mil         44.4 32.7 36.6 43.3 74.7            
Net Debt USD mil         -49.6 -70.1 -28.4 -45.8 3.57            
Working Capital USD mil         67.2 75.5 131 128 59.2            
Capital Employed USD mil         356 360 526 489 414            
Net Debt/Equity %         -13.8 -19.4 -6.07 -10.3 0.936            
Current Ratio         1.95 1.70 1.64 1.70 1.54            
Quick Ratio         1.59 1.43 1.30 1.37 0.813            
cash flow Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
cash flow                              
Net Profit USD mil         -2.67 15.4 4.52 -24.6 -70.5            
Depreciation USD mil ... ... ... ... 8.48 12.5 14.0 18.2 16.3            
Non-Cash Items USD mil         11.1 -7.22 6.61 18.3 30.7            
Change in Working Capital USD mil         -11.8 13.3 -42.6 14.4 13.6            
Total Cash From Operations USD mil         16.8 47.4 -0.928 47.2 6.86            
                                 
Capital Expenditures USD mil         -15.1 -17.9 -15.8 -21.0 -20.2            
Net Change in LT Investment USD mil         0 0 0 0 0     ... ... ... ...
Net Cash From Acquisitions USD mil         -113 -8.78 -21.9 5.00 0.500     ... ... ... ...
Other Investing Activities USD mil         0 0 0 0 3.30            
Total Cash From Investing USD mil         -128 -26.6 -37.6 -16.0 -16.4            
                                 
Dividends Paid USD mil         0 0 0 0 0            
Issuance Of Shares USD mil         -2.75 -12.4 2.93 -3.29 -0.186            
Issuance Of Debt USD mil         -0.226 -0.395 -0.436 -0.627 -0.535            
Other Financing Activities USD mil         -2.34 -0.925 -2.76 -2.01 -0.941     ... ... ... ...
Total Cash From Financing USD mil         -5.32 -13.7 -0.271 -5.93 -1.66            
                                 
Effect of FX Rates USD mil         3.36 1.79 1.29 -1.22 0.958     ... ... ... ...
Net Change In Cash USD mil         -113 8.84 -37.5 24.1 -10.2            
ratios                              
Days Sales Outstanding days         69.8 85.3 91.4 79.0 52.4            
Days Sales Of Inventory days         28.9 37.5 42.5 35.0 37.9            
Days Payable Outstanding days         72.2 100 75.8 64.9 58.2            
Cash Conversion Cycle days         26.6 22.6 58.2 49.1 32.1            
Cash Earnings USD mil ... ... ... ... 5.81 27.9 18.6 -6.41 -54.3            
Free Cash Flow USD mil         -111 20.7 -38.6 31.2 -9.51            
Capital Expenditures (As % of Sales) %         2.48 2.90 2.28 2.65 3.69            
other ratios Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
                               
Employees         1,089 554 1,425 1,400 1,280     ... ... ... ...
Operating Cost (As % of Sales) %         30.2 31.9 33.9 35.6 47.8     ... ... ... ...
Research & Development (As % of Sales) %         12.2 11.9 12.0 11.8 14.4     ... ... ... ...
Effective Tax Rate %         -65.7 21.9 41.5 -3.87 -13.5            
Total Revenue Growth (5-year average) % ... ... ... ... ... 13.1 11.7 12.4 -0.046            
Total Revenue Growth (10-year average) % ... ... ... ... ... ... ... ... ... ...          
valuation Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
                               
Market Capitalisation USD mil ... ... ... ... ... ... 678 506 348            
Enterprise Value (EV) USD mil ... ... ... ... ... ... 649 461 352            
Number Of Shares mil ... ... ... ... ... ... 32.9 36.0 36.2            
Share Price USD ... ... ... ... ... ... 20.6 14.1 9.63            
EV/EBITDA ... ... ... ... ... ... 21.2 22.1 -15.6            
Price/Earnings (P/E) ... ... ... ... ... ... 150 -20.6 -4.94            
Price/Cash Earnings (P/CE) ... ... ... ... ... ... 36.5 -79.1 -6.42            
P/FCF ... ... ... ... ... ... -17.6 16.2 -36.6            
Price/Book Value (P/BV) ... ... ... ... ... ... 1.45 1.14 0.913            
Dividend Yield % ... ... ... ... ... ... 0 0 0            
Free Cash Flow Yield % ... ... ... ... ... ... -5.69 6.17 -2.73            
Earnings Per Share (EPS) USD ... ... ... ... ... ... 0.137 -0.683 -1.95            
Cash Earnings Per Share USD ... ... ... ... ... ... 0.564 -0.178 -1.50            
Free Cash Flow Per Share USD ... ... ... ... ... ... -1.17 0.867 -0.263            
Book Value Per Share USD ... ... ... ... ... ... 14.2 12.3 10.5            
Dividend Per Share USD ... ... ... ... ... ... 0 0 0            
EV/Sales ... ... ... ... ... ... 0.940 0.580 0.643            
EV/EBIT ... ... ... ... ... ... 6,492 -25.2 -5.48            
EV/Free Cash Flow ... ... ... ... ... ... -16.8 14.8 -37.0            
EV/Capital Employed ... ... ... ... ... ... 1.23 0.942 0.849            
Earnings Per Share Growth % ... ... ... ... ... ... ... -597 185            
Cash Earnings Per Share Growth % ... ... ... ... ... ... ... -132 744            
Book Value Per Share Growth % ... ... ... ... ... ... ... -13.2 -14.5            

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Sierra Wireless's ROCE fell 108% yoy to -27.5% in 2021

By Helgi Analytics - September 21, 2022

Sierra Wireless made a net profit of USD -89.0 mil in 2021, down 80.4% compared to the previous year. Historically, between 2011 and 2021, the company's net profit reached a high of USD 55.0 mil in 2013 and a low of USD -89.0 mil in 2021. The result impli...

Sierra Wireless's Net Margin fell 71.0% yoy to -18.8% in 2021

By Helgi Analytics - September 21, 2022

Sierra Wireless made a net profit of USD -89.0 mil with revenues of USD 473 mil in 2021, down by 80.4% and up by 5.49%, respectively, compared to the previous year. This translates into a net margin of -18.8%. Historically, between 2011 and 2021, th...

Sierra Wireless's Share Price rose 20.6% yoy to USD 17.6 in 2021

By Helgi Analytics - September 21, 2022

Sierra Wireless stock traded at USD 17.6 per share at the end 2021 implying a market capitalization of USD 654 mil. Since the end of 2016, stock has appreciated by % implying an annual average growth of % In absolute terms, the value of the company rose ...

Sierra Wireless's Net Debt/EBITDA fell 91.7% yoy to 0.154 in 2021

By Helgi Analytics - September 21, 2022

Sierra Wireless's net debt stood at USD -6.92 mil and accounted for -2.49% of equity at the end of 2021. The ratio is up 22.8 pp compared to the previous year. Historically, the firm’s net debt to equity reached a high of 0.936% in 2019 and a low...

Sierra Wireless's Capital Expenditures rose 8.30% yoy to USD 19.9 mil in 2021

By Helgi Analytics - September 21, 2022

Sierra Wireless invested a total of USD 19.9 mil in 2021, down 8.3% compared to the previous year. Historically, between 2011 - 2021, the company's investments stood at a high of USD 21.7 mil in 2020 and a low of USD 10.7 mil in 2014. ...

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Finance

Sierra Wireless has been growing its sales by 12.6% a year on average in the last 5 years. EBITDA has grown by 312% during that time to total of USD 103 mil in 2025, or 12.6% of sales. That’s compared to 6.77% average margin seen in last five years.

The company netted USD 80.0 mil in 2025 implying ROE of 20.3% and ROCE of 22.3%. Again, the average figures were 3.27% and 3.39%, respectively when looking at the previous 5 years.

Sierra Wireless’s net debt amounted to USD 33.1 mil at the end of 2025, or 7.63% of equity. When compared to EBITDA, net debt was 0.322x, up when compared to average of 0.195x seen in the last 5 years.

Valuation

Sierra Wireless stock traded at USD 30.8 per share at the end of 2025 resulting in a market capitalization of USD 1,168 mil. Over the previous five years, stock price grew by 111% or 16.1% a year on average. The closing price put stock at a 12-month trailing EV/EBITDA of 11.7x and price to earnings (PE) of 14.6x as of 2025.