Immersion Corporation (IMMR) 10-Year Financial Performance & Capital Metrics

IMMR • • Industrial / General

TechnologyApplication SoftwareDigital Media & Entertainment SoftwareMedia Licensing & DRM

AboutImmersion Corporation, together with its subsidiaries, invents, scales, and licenses haptic technologies that allow people to use their sense of touch to engage with and experience various digital products in North America, Europe, and Asia. The company provides technology, patent, and combined licenses. It also provides software development kits (SDKs) comprising tools, integration software, and effect libraries that allow for the design, encoding, and playback of tactile effects in content. In addition, the company offers reference designs and reference technology, engineering and integration services, and software and firmware services. The company offers its products to mobile communications, wearables, and consumer electronics; gaming and virtual reality (VR); automotive; and other markets. Immersion Corporation was incorporated in 1993 and is headquartered in Aventura, Florida.Show more

Revenue $1.23B +3538.9%
EBITDA $154M +757.1%
Net Income $90M +165.6%
EPS (Diluted) 4.11 +295.2%
Gross Margin 29.08% -70.7%
EBITDA Margin 12.49% -76.4%
Operating Margin 10.75% -79.7%
Net Margin 7.31% -92.7%
ROE 24.08% +20.8%
ROIC 21.21% +86.5%
Debt/Equity 0.57 +266970.9%
Interest Coverage 13.79

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 21.5%
✓Strong 5Y sales CAGR of 102.8%
✓Healthy dividend yield of 5.9%
✓Healthy 5Y average net margin of 48.1%
✓Trading at only 0.4x book value

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y37.01%

5Y102.83%

3Y227.65%

TTM3538.91%

Profit (Net Income) CAGR

10Y36.15%

5Y-

3Y93.34%

TTM165.57%

EPS CAGR

10Y40.21%

5Y-

3Y119.24%

TTM298.33%

ROCE

10Y Avg2.35%

5Y Avg13.41%

3Y Avg16.79%

Latest25.8%

Peer Comparison

Media Licensing & DRM

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ADEAAdeia Inc.	2.1B	19.17	33.63	-3.28%	19.32%	17.74%	10.03%	1.22
IMMRImmersion Corporation	215.67M	6.56	1.60	35.39%	7.31%	15.93%		0.57

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	63.39M	57.09M	35.01M	110.98M	35.95M	30.46M	35.09M	38.46M	33.92M	1.23B
Revenue Growth %	0.2%	-0.1%	-0.39%	2.17%	-0.68%	-0.15%	0.15%	0.1%	-0.12%	35.39%
Cost of Goods Sold+	440K	191K	197K	218K	170K	168K	88K	4K	281K	875.31M
COGS % of Revenue	0.01%	0%	0.01%	0%	0%	0.01%	0%	0%	0.01%	0.71%
Gross Profit+	62.95M	56.9M	34.82M	110.76M	35.78M	25.27M	35M	38.46M	33.64M	358.97M
Gross Margin %	0.99%	1%	0.99%	1%	1%	0.83%	1%	1%	0.99%	0.29%
Gross Profit Growth %	0.2%	-0.1%	-0.39%	2.18%	-0.68%	-0.29%	0.38%	0.1%	-0.13%	9.67%
Operating Expenses+	58.23M	72.16M	78.62M	57.66M	57.23M	23.05M	17.23M	14.04M	15.71M	226.34M
OpEx % of Revenue	0.92%	1.26%	2.25%	0.52%	1.59%	0.76%	0.49%	0.36%	0.46%	0.18%
Selling, General & Admin	43.43M	58.76M	66.86M	47.93M	49.39M	23.05M	13.08M	12.66M	15.71M	209.22M
SG&A % of Revenue	0.69%	1.03%	1.91%	0.43%	1.37%	0.76%	0.37%	0.33%	0.46%	0.17%
Research & Development	14.79M	13.39M	11.76M	9.73M	7.84M	5.01M	4.15M	1.38M	281K	42K
R&D % of Revenue	0.23%	0.23%	0.34%	0.09%	0.22%	0.16%	0.12%	0.04%	0.01%	0%
Other Operating Expenses	-447K	-63K	274K	-198K	0	-5.01M	0	0	-281K	17.07M
Operating Income+	4.72M	-15.26M	-45.42M	53.1M	-21.45M	2.22M	17.77M	24.42M	17.93M	132.63M
Operating Margin %	0.07%	-0.27%	-1.3%	0.48%	-0.6%	0.07%	0.51%	0.63%	0.53%	0.11%
Operating Income Growth %	-0.21%	-4.23%	-1.98%	2.17%	-1.4%	1.1%	7.01%	0.37%	-0.27%	6.4%
EBITDA+	4.74M	-14.35M	-44.45M	53.96M	-19.25M	4.15M	17.87M	24.56M	17.99M	154.22M
EBITDA Margin %	0.07%	-0.25%	-1.27%	0.49%	-0.54%	0.14%	0.51%	0.64%	0.53%	0.12%
EBITDA Growth %	-0.21%	-4.03%	-2.1%	2.21%	-1.36%	1.22%	3.31%	0.37%	-0.27%	7.57%
D&A (Non-Cash Add-back)	20K	910K	968K	855K	2.2M	1.93M	99K	140K	67K	21.59M
EBIT	4.72M	-15.26M	-43.8M	53.1M	-21.45M	2.22M	17.77M	24.42M	17.93M	163.69M
Net Interest Income+	177K	817K	337K	1.83M	1.79M	271K	1.24M	2.84M	25.01M	21.63M
Interest Income	177K	817K	337K	1.83M	1.79M	271K	1.24M	2.84M	25.01M	31.24M
Interest Expense	0	0	0	0	0	0	0	0	0	9.62M
Other Income/Expense	-270K	754K	611K	1.63M	1.88M	939K	-485K	2.54M	24.99M	21.44M
Pretax Income+	4.45M	-14.51M	-44.81M	54.73M	-19.57M	3.16M	17.29M	26.96M	42.91M	154.08M
Pretax Margin %	0.07%	-0.25%	-1.28%	0.49%	-0.54%	0.1%	0.49%	0.7%	1.27%	0.12%
Income Tax+	1.59M	25.52M	480K	392K	471K	-2.24M	4.81M	-3.7M	8.94M	39.3M
Effective Tax Rate %	0.64%	2.71%	1.01%	0.99%	1.02%	1.71%	0.72%	1.14%	0.79%	0.59%
Net Income+	2.86M	-39.38M	-45.29M	54.34M	-20.04M	5.4M	12.48M	30.66M	33.98M	90.23M
Net Margin %	0.05%	-0.69%	-1.29%	0.49%	-0.56%	0.18%	0.36%	0.8%	1%	0.07%
Net Income Growth %	-0.31%	-14.78%	-0.15%	2.2%	-1.37%	1.27%	1.31%	1.46%	0.11%	1.66%
Net Income (Continuing)	2.86M	-40.03M	-45.29M	54.34M	-20.04M	5.4M	12.48M	30.66M	33.98M	114.78M
Discontinued Operations	0	649K	0	0	0	0	0	0	0	8.01M
Minority Interest	0	0	0	0	0	0	0	0	0	247.13M
EPS (Diluted)+	0.10	-1.37	-1.55	1.73	-0.64	0.19	0.39	0.92	1.04	4.11
EPS Growth %	-0.29%	-14.7%	-0.13%	2.12%	-1.37%	1.3%	1.05%	1.36%	0.13%	2.95%
EPS (Basic)	0.10	-1.37	-1.55	1.78	-0.64	0.19	0.40	0.92	1.05	4.19
Diluted Shares Outstanding	29.02M	28.76M	29.18M	31.41M	31.53M	28.48M	31.77M	33.51M	32.54M	33.05M
Basic Shares Outstanding	28.1M	28.76M	29.18M	30.46M	31.53M	28.12M	31.46M	33.28M	32.21M	32.29M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	0.22%	0.14%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	68.93M	94.03M	48.08M	135.82M	106.96M	74.35M	153.32M	160.32M	172.45M	925.98M
Cash & Short-Term Investments	64.93M	89.77M	46.54M	124.92M	89.5M	59.52M	137.92M	149.74M	160.36M	153.91M
Cash Only	25.01M	56.87M	24.62M	110.99M	86.48M	59.52M	51.49M	48.82M	56.07M	77.69M
Short-Term Investments	39.92M	32.91M	21.92M	13.93M	3.02M	0	86.43M	100.92M	104.29M	76.22M
Accounts Receivable	1.21M	1.38M	806K	1.05M	3.38M	13.84M	14.42M	8.91M	9.98M	365.06M
Days Sales Outstanding	6.98	8.84	8.4	3.46	34.37	165.88	149.98	84.52	107.4	107.95
Inventory	0	0	0	0	0	0	13.25M	0	0	367.86M
Days Inventory Outstanding	-	-	-	-	-	-	54.94K	-	-	153.39
Other Current Assets	2.79M	2.88M	736K	0	13.14M	171K	-13.06M	100K	191K	46.85M
Total Non-Current Assets+	36.48M	9.74M	3.9M	10.17M	17.89M	21.78M	22.2M	29.79M	43.28M	444.57M
Property, Plant & Equipment	4.59M	4.02M	3.15M	2.34M	1.23M	209K	444K	293K	247K	251.28M
Fixed Asset Turnover	13.81x	14.21x	11.12x	47.37x	29.33x	145.72x	79.03x	131.27x	137.32x	4.91x
Goodwill	0	0	0	0	0	0	0	0	0	10.12M
Intangible Assets	264K	365K	344K	0	0	0	257K	0	0	92.54M
Long-Term Investments	6.74M	0	-344K	0	6.93M	4.6M	7.29M	17.04M	33.35M	44.12M
Other Non-Current Assets	258K	5M	344K	7.53M	16.19M	18.91M	12.1M	5.24M	6.34M	45.65M
Total Assets+	105.42M	103.77M	51.98M	146M	124.85M	96.13M	175.52M	190.11M	215.73M	1.37B
Asset Turnover	0.60x	0.55x	0.67x	0.76x	0.29x	0.32x	0.20x	0.20x	0.16x	0.90x
Asset Growth %	0.08%	-0.02%	-0.5%	1.81%	-0.14%	-0.23%	0.83%	0.08%	0.13%	5.35%
Total Current Liabilities+	15.19M	21.02M	19.1M	15.35M	11.82M	8.78M	16.63M	19.35M	19.31M	538.61M
Accounts Payable	650K	5.95M	6.65M	3.61M	809K	149K	2K	86K	47K	303.59M
Days Payables Outstanding	539.2	11.37K	12.32K	6.05K	1.74K	323.72	8.3	7.85K	61.05	126.6
Short-Term Debt	0	0	0	0	0	1.38M	1.1M	486K	39K	74.47M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	3M	4.41M	5.61M	2.99M	2.28M	492K	9.61M	8.79M	10.09M	107.89M
Current Ratio	4.54x	4.47x	2.52x	8.85x	9.05x	8.47x	9.22x	8.29x	8.93x	1.72x
Quick Ratio	4.54x	4.47x	2.52x	8.85x	9.05x	8.47x	8.42x	8.29x	8.93x	1.04x
Cash Conversion Cycle	-	-	-	-	-	-	55.08K	-	-	134.75
Total Non-Current Liabilities+	3.62M	27.41M	23.22M	30.99M	29.27M	23.37M	17.59M	13.06M	13.32M	265.64M
Long-Term Debt	0	0	0	0	0	0	0	0	0	141.2M
Capital Lease Obligations	0	0	0	0	0	1.68M	550K	56K	0	106.47M
Deferred Tax Liabilities	0	0	0	0	-2.66M	-1.68M	-550K	-56K	0	0
Other Non-Current Liabilities	1.1M	1.01M	915K	787K	3.32M	2.04M	896K	435K	4.93M	8.19M
Total Liabilities	18.8M	48.43M	42.32M	46.34M	41.09M	32.15M	34.23M	32.41M	32.63M	804.25M
Total Debt+	0	0	0	0	1.15M	1.38M	1.1M	486K	39K	322.14M
Net Debt	-25.01M	-56.87M	-24.62M	-110.99M	-85.33M	-58.14M	-50.39M	-48.33M	-56.03M	244.45M
Debt / Equity	-	-	-	-	0.01x	0.02x	0.01x	0.00x	0.00x	0.57x
Debt / EBITDA	-	-	-	-	-	0.33x	0.06x	0.02x	0.00x	2.09x
Net Debt / EBITDA	-5.28x	-	-	-2.06x	-	-14.01x	-2.82x	-1.97x	-3.11x	1.59x
Interest Coverage	-	-	-	-	-	-	-	-	-	13.79x
Total Equity+	86.61M	55.34M	9.66M	99.66M	83.76M	63.98M	141.29M	157.7M	183.1M	566.29M
Equity Growth %	0.13%	-0.36%	-0.83%	9.32%	-0.16%	-0.24%	1.21%	0.12%	0.16%	2.09%
Book Value per Share	2.99	1.92	0.33	3.17	2.66	2.25	4.45	4.71	5.63	17.13
Total Shareholders' Equity	86.61M	55.34M	9.66M	99.66M	83.76M	63.98M	141.29M	157.7M	183.1M	319.17M
Common Stock	212.12M	221.1M	228.05M	246.41M	253.29M	258.76M	323.3M	322.71M	322.18M	49K
Retained Earnings	-79.95M	-119.33M	-171.62M	-98.52M	-118.56M	-113.16M	-100.68M	-70.02M	-36.04M	41.71M
Treasury Stock	-45.64M	-46.54M	-46.87M	-48.35M	-51.09M	-81.73M	-81.73M	-95.2M	-104.74M	0
Accumulated OCI	86K	115K	99K	116K	124K	122K	412K	202K	1.7M	1.91M
Minority Interest	0	0	0	0	0	0	0	0	0	247.13M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	10.04M	22.04M	-43.83M	69.92M	-34.1M	22K	17.45M	40.15M	20.6M	-77.78M
Operating CF Margin %	0.16%	0.39%	-1.25%	0.63%	-0.95%	0%	0.5%	1.04%	0.61%	-0.06%
Operating CF Growth %	33.52%	1.19%	-2.99%	2.6%	-1.49%	1%	792.14%	1.3%	-0.49%	-4.78%
Net Income	2.86M	-40.03M	-45.29M	54.34M	-20.04M	5.4M	12.48M	30.66M	33.98M	19.43M
Depreciation & Amortization	1.02M	910K	968K	855K	2.2M	1.93M	762K	812K	67K	24.76M
Stock-Based Compensation	5.47M	6.11M	6.1M	8.69M	5.46M	4.76M	2.34M	3.57M	3.4M	11.74M
Deferred Taxes	9.94M	24.27M	-32K	109K	431K	-2.48M	531K	-5.1M	3.53M	-1.91M
Other Non-Cash Items	-9.93M	-24.25M	33K	-83K	1.04M	-29K	3.71M	3.22M	-16.18M	-146.77M
Working Capital Changes	697K	55.03M	-5.61M	6.01M	-23.18M	-9.55M	-2.38M	6.98M	-4.18M	14.98M
Change in Receivables	1.81M	-171K	576K	-245K	-2.33M	1.17M	248K	735K	-1.01M	-240.66M
Change in Inventory	-8.39M	1.82M	34K	-11.33M	2.33M	-1.17M	-248K	0	0	18.55M
Change in Payables	-19K	5.32M	696K	-3.04M	-2.81M	-660K	-148K	84K	-41K	49.74M
Cash from Investing+	-1.34M	7.84M	11.07M	8.24M	10.92M	2.95M	-87.68M	-29.41M	3.4M	11.28M
Capital Expenditures	-4.43M	-343K	-125K	-74K	-150K	-47K	-335K	-30K	0	-8.13M
CapEx % of Revenue	0.07%	0.01%	0%	0%	0%	0%	0.01%	0%	-	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	3.09M	1M	11.19M	8.31M	11.07M	0	5.38M	0	8.93M	6.51M
Cash from Financing+	1.93M	1.97M	518K	8.21M	-1.33M	-29.93M	62.2M	-13.41M	-16.75M	101.23M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	-7.41M	-12.83M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	1.56M	2.69M	846K	8.21M	1.41M	711K	3.01M	-229K	-1.07M	150.41M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	5.62M	21.7M	-43.95M	69.85M	-34.25M	-25K	17.11M	40.12M	20.6M	-85.91M
FCF Margin %	0.09%	0.38%	-1.26%	0.63%	-0.95%	-0%	0.49%	1.04%	0.61%	-0.07%
FCF Growth %	12.51%	2.86%	-3.03%	2.59%	-1.49%	1%	685.56%	1.34%	-0.49%	-5.17%
FCF per Share	0.19	0.75	-1.51	2.22	-1.09	-0.00	0.54	1.20	0.63	-2.60
FCF Conversion (FCF/Net Income)	3.51x	-0.56x	0.97x	1.29x	1.70x	0.00x	1.40x	1.31x	0.61x	-0.86x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	156K	419K	191K	151K	160K	65K	88K	1.41M	1.79M	32K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	3.5%	-55.48%	-139.36%	99.42%	-21.86%	7.31%	12.16%	20.51%	19.94%	24.08%
Return on Invested Capital (ROIC)	5.72%	-38.11%	-	-	-	77.99%	27.56%	18.29%	11.37%	21.21%
Gross Margin	99.31%	99.67%	99.44%	99.8%	99.53%	82.99%	99.75%	99.99%	99.17%	29.08%
Net Margin	4.51%	-68.99%	-129.35%	48.97%	-55.75%	17.73%	35.58%	79.73%	100.17%	7.31%
Debt / Equity	-	-	-	-	0.01x	0.02x	0.01x	0.00x	0.00x	0.57x
Interest Coverage	-	-	-	-	-	-	-	-	-	13.79x
FCF Conversion	3.51x	-0.56x	0.97x	1.29x	1.70x	0.00x	1.40x	1.31x	0.61x	-0.86x
Revenue Growth	19.75%	-9.95%	-38.67%	216.97%	-67.6%	-15.29%	15.21%	9.61%	-11.81%	3538.91%

Revenue by Segment

	2018	2019	2020	2021	2022	2023
Fixed Fee License and Per-Unit Royalties	110.56M	35.64M	30.18M	34.69M	38.18M	33.78M
Fixed Fee License and Per-Unit Royalties Growth	-	-67.76%	-15.34%	14.96%	10.06%	-11.52%
Per-Unit Royalties	-	23.02M	24.7M	28.85M	26.23M	28.5M
Per-Unit Royalties Growth	-	-	7.33%	16.77%	-9.09%	8.67%
Fixed Fee License	-	12.63M	5.47M	5.84M	-	5.28M
Fixed Fee License Growth	-	-	-56.66%	6.78%	-	-
Development, Services and Other	422K	310K	280K	400K	283K	138K
Development, Services and Other Growth	-	-26.54%	-9.68%	42.86%	-29.25%	-51.24%

Frequently Asked Questions

Valuation & Price

Immersion Corporation (IMMR) has a price-to-earnings (P/E) ratio of 1.6x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Immersion Corporation (IMMR) reported $1.23B in revenue for fiscal year 2024. This represents a 3929% increase from $30.6M in 2011.

Immersion Corporation (IMMR) grew revenue by 3538.9% over the past year. This is strong growth.

Yes, Immersion Corporation (IMMR) is profitable, generating $90.2M in net income for fiscal year 2024 (7.3% net margin).

Dividend & Returns

Yes, Immersion Corporation (IMMR) pays a dividend with a yield of 5.92%. This makes it attractive for income-focused investors.

Immersion Corporation (IMMR) has a return on equity (ROE) of 24.1%. This is excellent, indicating efficient use of shareholder capital.

Immersion Corporation (IMMR) had negative free cash flow of $85.9M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

...