Industry Reports

FOCUS Healthcare and Life Sciences Report

FOCUS Healthcare and Life Sciences Report: Summer 2019

Featured in this Issue

The Instant, Custom, Connected Future of Medical Devices

By Janet Morrissey, The New York Times*

3D-printed and “smart” pharmaceuticals are making medical treatments more effective. But it may take years before the new devices reach most patients, if they do at all.

Also in this Issue

  • Performance: S&P 500 vs. Public
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FOCUS U.S. Communications Service Provider Quarterly

FOCUS U.S. Communications Service Provider Quarterly: Summer 2019 Report

In public markets, the FOCUS Communications Service Provider Index (CSPI) enjoyed a second straight reporting period with a positive return as the index gained 3.7% in the past three months. This gain exactly split the difference between the 3.8% gain in the S&P 500 and the 3.6% gain in the NASDAQ over the corresponding time period. For the full year, the CSPI is up 13.4%, a gain which significantly outperformed the annual gains of 8.2% and 6.6% in the S&P 500 and the NASDAQ, respectively. Sector multiples also closed out the period higher than they were at this same time last year. The sector revenue multiple now stands at 2.7x (up from 2.4x a year ago) while the sector EBITDA multiple climbed to 8.0x (up from 7.4x a year ago).
Telecom Business Services Quarterly

Download the FOCUS Telecom Business Services Quarterly: Summer 2019 Report

In public markets, the FOCUS Telecom Business Services Index (TBSI) enjoyed a second straight reporting period in the black as it turned in a solid three-month gain of 4.0%. This increase was strong enough to outperform the gains in both the S&P 500 (up 3.8%) and the NASDAQ (up 3.6%) over the corresponding time period. The TBSI also outpaced the broader indices over the past year. The sector is up 14.6% over the past 12 months, handily besting both the 8.2% gain in the S&P 500 and the 6.6% gain in the NASDAQ. Sector multiple performance was mixed over the past year. The sector revenue multiple inched up from 0.4x a year ago to 0.5x currently. However, the sector EBITDA multiple declined from 9.7x to 9.4x over the same time frame.
carrier focused telecom technology text banner with blue cables

Download the FOCUS Carrier-Focused Telecom Technology Quarterly: Summer 2019 Report

In public markets, after a string of positive returns, the FOCUS Carrier-Focused Telecom Technology Index (CFTTI) reversed course and suffered a modest loss of 2.7% over this past three months. This underperformed both the S&P 500 and NASDAQ, which suffered losses over this time frame of 1.2% and 1.1%, respectively. Even with this period’s decline, the CFTTI still handily outperforms the indices over the 12-month time frame. The CFTTI is up 15.3% in the past year, while the S&P 500 is up 1.7% and the NASDAQ eked out only a 0.2% gain. The sector revenue multiple is up strongly over the past year, increasing from 2.0x to 2.5x. The sector EBITDA multiple also increased, but much more modestly from 12.9x to 14.1x. This indicates that overall sector EBITDA margins improved.
Enterprise-Focused Telecom Technology Quarterly

Download the FOCUS Enterprise-Focused Telecom Technology Quarterly: Spring 2019 Report

In public markets, the FOCUS Enterprise-Focused Telecom Technology Index (EFTTI) turned in a stellar reporting period this spring with a three month gain of 17.3%. Gains were broad-based as every single sub sector in the index was in positive territory for the period. In addition, the gains in the EFTTI handily outperformed the broader indices as the S&P 500 was up 8.9% and the NASDAQ was up 11.2% over the corresponding time frame. The story is similar for the full year period, where the EFTTI’s year-over-year increase of 23.7% compares favorably with both the 11.3% gain in the S&P 500 and the 14.6% gain in the NASDAQ. The sector has benefited from meaningful multiple expansion over the past year. The sector revenue multiple ended the period at 4.9x (up from 4.0x a year ago) and the sector EBITDA multiple ended the period at 20.5x (up from 16.5x a year ago).
FOCUS Government, Aerospace, and Defense Quarterly

Download the Government, Aerospace and Defense Group’s Spring 2019 Report

The latest issue of the FOCUS Government, Aerospace, and Defense Group Report — highlighting aerospace and defense — is now available. The new GAD Report includes:
  • Major Q1 2019 Deals in the GAD Sector
  • Performance: S&P 500 vs. GAD
  • GOVERNMENT Sector Q1 2019
  • AEROSPACE Sector Q1 2019
  • DEFENSE Sector Q1 2019
  • Selected GAD Transactions Q1 2019
  • M&A Activity in the GAD Sector
  • Recent FOCUS GAD Transactions
FOCUS Healthcare and Life Sciences Report

Download the FOCUS Healthcare and Life Sciences Report: Spring 2019

Featured in this Issue

Elderly Home Care Goes Digital

Supplied by Community Research and Development Information Service (CORDIS), European Commission, May 31, 2018*
For the elderly with cognitive impairment, living alone can prove detrimental to their health. Assistance services can provide appropriate discreet support for independent living and a high life quality.