View Past PerformanceVantea SMART バランスシートの健全性財務の健全性 基準チェック /46Vantea SMARTの総株主資本は€11.5M 、総負債は€4.4Mで、負債比率は38.8%となります。総資産と総負債はそれぞれ€25.4Mと€13.9Mです。 Vantea SMARTの EBIT は€2.5Mで、利息カバレッジ比率10.9です。現金および短期投資は€2.4Mです。主要情報38.83%負債資本比率€4.45m負債インタレスト・カバレッジ・レシオ10.9x現金€2.44mエクイティ€11.46m負債合計€13.90m総資産€25.35m財務の健全性に関する最新情報更新なしすべての更新を表示Recent updatesBoard Change • 3hLess than half of directors are independentThere are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. 2 experienced directors. 1 highly experienced director. 1 independent director (2 non-independent directors). Chairman & CEO Lara Lindozzi is the most experienced director on the board, commencing their role in 2013. Independent Director Antonio Venturi was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors.お知らせ • May 15Vantea SMART S.p.A., Annual General Meeting, May 28, 2026Vantea SMART S.p.A., Annual General Meeting, May 28, 2026, at 17:00 W. Europe Standard Time.お知らせ • Jun 17Vantea SMART S.p.A., Annual General Meeting, Jun 29, 2025Vantea SMART S.p.A., Annual General Meeting, Jun 29, 2025, at 17:00 W. Europe Standard Time.お知らせ • Jun 03Vantea SMART S.p.A. announces Annual dividend, payable on July 09, 2025Vantea SMART S.p.A. announced Annual dividend of EUR 0.0250 per share payable on July 09, 2025, ex-date on July 07, 2025 and record date on July 08, 2025.Valuation Update With 7 Day Price Move • Jun 12Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €2.19, the stock trades at a trailing P/E ratio of 49.7x. Average forward P/E is 23x in the Software industry in Germany. Total loss to shareholders of 32% over the past year.Upcoming Dividend • Jun 03Upcoming dividend of €0.05 per shareEligible shareholders must have bought the stock before 10 June 2024. Payment date: 12 June 2024. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (1.3%).New Risk • May 21New major risk - Revenue and earnings growthEarnings have declined by 7.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 7.2% per year over the past 5 years. Minor Risks High level of debt (41% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.2% net profit margin). Shareholders have been diluted in the past year (2.9% increase in shares outstanding). Market cap is less than US$100m (€24.9m market cap, or US$27.0m).お知らせ • May 17Vantea SMART S.p.A., Annual General Meeting, May 30, 2024Vantea SMART S.p.A., Annual General Meeting, May 30, 2024, at 17:00 W. Europe Standard Time. Location: via tiburtina 1231, roma ItalyBuy Or Sell Opportunity • Apr 24Now 27% overvaluedOver the last 90 days, the stock has fallen 19% to €1.81. The fair value is estimated to be €1.42, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 45% over the last year. Earnings per share has declined by 68%. Revenue is forecast to decline by 30% in 2 years. Earnings are forecast to grow by 141% in the next 2 years.New Risk • Apr 17New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (41% net debt to equity). Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.2% net profit margin). Shareholders have been diluted in the past year (3.3% increase in shares outstanding). Market cap is less than US$100m (€22.6m market cap, or US$24.0m).Buy Or Sell Opportunity • Mar 23Now 23% overvaluedOver the last 90 days, the stock has fallen 14% to €1.76. The fair value is estimated to be €1.43, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 45% over the last year. Earnings per share has declined by 68%. Revenue is forecast to decline by 30% in 2 years. Earnings are forecast to grow by 141% in the next 2 years.Valuation Update With 7 Day Price Move • Dec 30Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €2.38, the stock trades at a trailing P/E ratio of 50.6x. Average forward P/E is 26x in the Software industry in Germany. Total loss to shareholders of 41% over the past year.Valuation Update With 7 Day Price Move • Dec 09Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €2.19, the stock trades at a trailing P/E ratio of 47.6x. Average forward P/E is 27x in the Software industry in Germany. Total loss to shareholders of 50% over the past year.Valuation Update With 7 Day Price Move • Nov 24Investor sentiment improves as stock rises 18%After last week's 18% share price gain to €1.86, the stock trades at a trailing P/E ratio of 43.5x. Average forward P/E is 27x in the Software industry in Germany. Total loss to shareholders of 60% over the past year.Valuation Update With 7 Day Price Move • Nov 02Investor sentiment improves as stock rises 19%After last week's 19% share price gain to €1.67, the stock trades at a trailing P/E ratio of 37x. Average forward P/E is 25x in the Software industry in Germany. Total loss to shareholders of 64% over the past year.Valuation Update With 7 Day Price Move • Oct 10Investor sentiment deteriorates as stock falls 42%After last week's 42% share price decline to €1.32, the stock trades at a trailing P/E ratio of 30.4x. Average forward P/E is 26x in the Software industry in Germany. Total loss to shareholders of 74% over the past year.New Risk • Oct 08New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 41% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (41% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.2% net profit margin). Shareholders have been diluted in the past year (3.3% increase in shares outstanding). Market cap is less than US$100m (€16.0m market cap, or US$17.0m).Board Change • Sep 18Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Director Giovanni Castellaneta was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.New Risk • Jul 28New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.5% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (28% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (2.1% net profit margin). Shareholders have been diluted in the past year (2.9% increase in shares outstanding). Market cap is less than US$100m (€33.4m market cap, or US$36.9m).Upcoming Dividend • Jul 03Upcoming dividend of €0.04 per share at 1.3% yieldEligible shareholders must have bought the stock before 10 July 2023. Payment date: 12 July 2023. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (1.6%).New Risk • Jun 25New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (28% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (2.1% net profit margin). Shareholders have been diluted in the past year (2.9% increase in shares outstanding). Market cap is less than US$100m (€43.2m market cap, or US$47.1m).New Risk • Jun 22New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.1% Last year net profit margin: 4.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (28% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (2.1% net profit margin). Market cap is less than US$100m (€42.5m market cap, or US$46.4m).Buying Opportunity • Jun 07Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 32%. The fair value is estimated to be €4.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 89% over the last year. Earnings per share has grown by 56%. Revenue is forecast to grow by 93% in 2 years. Earnings is forecast to grow by 309% in the next 2 years.Valuation Update With 7 Day Price Move • May 10Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €3.63, the stock trades at a trailing P/E ratio of 24.8x. Average forward P/E is 26x in the Software industry in Germany. Total loss to shareholders of 41% over the past year.Buying Opportunity • Apr 21Now 24% undervalued after recent price dropOver the last 90 days, the stock is down 29%. The fair value is estimated to be €4.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 89% over the last year. Earnings per share has grown by 56%. Revenue is forecast to grow by 93% in 2 years. Earnings is forecast to grow by 309% in the next 2 years.Buying Opportunity • Jan 03Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 26%. The fair value is estimated to be €5.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 89% over the last year. Earnings per share has grown by 56%. Revenue is forecast to grow by 93% in 2 years. Earnings is forecast to grow by 309% in the next 2 years.Buying Opportunity • Dec 13Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 25%. The fair value is estimated to be €5.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 89% over the last year. Earnings per share has grown by 56%. Revenue is forecast to grow by 93% in 2 years. Earnings is forecast to grow by 309% in the next 2 years.Board Change • Nov 21Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Director Giovanni Castellaneta was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Board Change • Jul 08Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. 1 independent director (3 non-independent directors). CFO & Vice Chairman of the Board Lara Lindozzi was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Board Change • May 10Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. 1 independent director (3 non-independent directors). CFO & Vice Chairman of the Board Lara Lindozzi was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Board Change • Mar 17Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. CFO & Vice Chairman of the Board Lara Lindozzi was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.財務状況分析短期負債: 9X2の 短期資産 ( €13.0M ) が 短期負債 ( €6.0M ) を超えています。長期負債: 9X2の短期資産 ( €13.0M ) が 長期負債 ( €7.9M ) を上回っています。デット・ツー・エクイティの歴史と分析負債レベル: 9X2の 純負債対資本比率 ( 17.5% ) は 満足できる 水準であると考えられます。負債の削減: 9X2の負債対資本比率は、過去 5 年間で27.7%から38.8%に増加しました。債務返済能力: 9X2の 営業キャッシュフロー はマイナスであるため、負債は十分にカバーされていません。インタレストカバレッジ: 9X2の負債に対する 利息支払い は EBIT ( 10.9 x coverage) によって 十分にカバーされています。貸借対照表健全な企業の発掘7D1Y7D1Y7D1YSoftware 業界の健全な企業。View Dividend企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/20 01:29終値2026/05/20 00:00収益2025/06/30年間収益2024/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Vantea SMART S.p.A. 1 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。1 アナリスト機関Mattia PetraccaIntegrae SPA
Board Change • 3hLess than half of directors are independentThere are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. 2 experienced directors. 1 highly experienced director. 1 independent director (2 non-independent directors). Chairman & CEO Lara Lindozzi is the most experienced director on the board, commencing their role in 2013. Independent Director Antonio Venturi was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors.
お知らせ • May 15Vantea SMART S.p.A., Annual General Meeting, May 28, 2026Vantea SMART S.p.A., Annual General Meeting, May 28, 2026, at 17:00 W. Europe Standard Time.
お知らせ • Jun 17Vantea SMART S.p.A., Annual General Meeting, Jun 29, 2025Vantea SMART S.p.A., Annual General Meeting, Jun 29, 2025, at 17:00 W. Europe Standard Time.
お知らせ • Jun 03Vantea SMART S.p.A. announces Annual dividend, payable on July 09, 2025Vantea SMART S.p.A. announced Annual dividend of EUR 0.0250 per share payable on July 09, 2025, ex-date on July 07, 2025 and record date on July 08, 2025.
Valuation Update With 7 Day Price Move • Jun 12Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €2.19, the stock trades at a trailing P/E ratio of 49.7x. Average forward P/E is 23x in the Software industry in Germany. Total loss to shareholders of 32% over the past year.
Upcoming Dividend • Jun 03Upcoming dividend of €0.05 per shareEligible shareholders must have bought the stock before 10 June 2024. Payment date: 12 June 2024. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (1.3%).
New Risk • May 21New major risk - Revenue and earnings growthEarnings have declined by 7.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 7.2% per year over the past 5 years. Minor Risks High level of debt (41% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.2% net profit margin). Shareholders have been diluted in the past year (2.9% increase in shares outstanding). Market cap is less than US$100m (€24.9m market cap, or US$27.0m).
お知らせ • May 17Vantea SMART S.p.A., Annual General Meeting, May 30, 2024Vantea SMART S.p.A., Annual General Meeting, May 30, 2024, at 17:00 W. Europe Standard Time. Location: via tiburtina 1231, roma Italy
Buy Or Sell Opportunity • Apr 24Now 27% overvaluedOver the last 90 days, the stock has fallen 19% to €1.81. The fair value is estimated to be €1.42, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 45% over the last year. Earnings per share has declined by 68%. Revenue is forecast to decline by 30% in 2 years. Earnings are forecast to grow by 141% in the next 2 years.
New Risk • Apr 17New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (41% net debt to equity). Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.2% net profit margin). Shareholders have been diluted in the past year (3.3% increase in shares outstanding). Market cap is less than US$100m (€22.6m market cap, or US$24.0m).
Buy Or Sell Opportunity • Mar 23Now 23% overvaluedOver the last 90 days, the stock has fallen 14% to €1.76. The fair value is estimated to be €1.43, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 45% over the last year. Earnings per share has declined by 68%. Revenue is forecast to decline by 30% in 2 years. Earnings are forecast to grow by 141% in the next 2 years.
Valuation Update With 7 Day Price Move • Dec 30Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €2.38, the stock trades at a trailing P/E ratio of 50.6x. Average forward P/E is 26x in the Software industry in Germany. Total loss to shareholders of 41% over the past year.
Valuation Update With 7 Day Price Move • Dec 09Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €2.19, the stock trades at a trailing P/E ratio of 47.6x. Average forward P/E is 27x in the Software industry in Germany. Total loss to shareholders of 50% over the past year.
Valuation Update With 7 Day Price Move • Nov 24Investor sentiment improves as stock rises 18%After last week's 18% share price gain to €1.86, the stock trades at a trailing P/E ratio of 43.5x. Average forward P/E is 27x in the Software industry in Germany. Total loss to shareholders of 60% over the past year.
Valuation Update With 7 Day Price Move • Nov 02Investor sentiment improves as stock rises 19%After last week's 19% share price gain to €1.67, the stock trades at a trailing P/E ratio of 37x. Average forward P/E is 25x in the Software industry in Germany. Total loss to shareholders of 64% over the past year.
Valuation Update With 7 Day Price Move • Oct 10Investor sentiment deteriorates as stock falls 42%After last week's 42% share price decline to €1.32, the stock trades at a trailing P/E ratio of 30.4x. Average forward P/E is 26x in the Software industry in Germany. Total loss to shareholders of 74% over the past year.
New Risk • Oct 08New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 41% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (41% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.2% net profit margin). Shareholders have been diluted in the past year (3.3% increase in shares outstanding). Market cap is less than US$100m (€16.0m market cap, or US$17.0m).
Board Change • Sep 18Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Director Giovanni Castellaneta was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
New Risk • Jul 28New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.5% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (28% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (2.1% net profit margin). Shareholders have been diluted in the past year (2.9% increase in shares outstanding). Market cap is less than US$100m (€33.4m market cap, or US$36.9m).
Upcoming Dividend • Jul 03Upcoming dividend of €0.04 per share at 1.3% yieldEligible shareholders must have bought the stock before 10 July 2023. Payment date: 12 July 2023. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (1.6%).
New Risk • Jun 25New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (28% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (2.1% net profit margin). Shareholders have been diluted in the past year (2.9% increase in shares outstanding). Market cap is less than US$100m (€43.2m market cap, or US$47.1m).
New Risk • Jun 22New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.1% Last year net profit margin: 4.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (28% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (2.1% net profit margin). Market cap is less than US$100m (€42.5m market cap, or US$46.4m).
Buying Opportunity • Jun 07Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 32%. The fair value is estimated to be €4.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 89% over the last year. Earnings per share has grown by 56%. Revenue is forecast to grow by 93% in 2 years. Earnings is forecast to grow by 309% in the next 2 years.
Valuation Update With 7 Day Price Move • May 10Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €3.63, the stock trades at a trailing P/E ratio of 24.8x. Average forward P/E is 26x in the Software industry in Germany. Total loss to shareholders of 41% over the past year.
Buying Opportunity • Apr 21Now 24% undervalued after recent price dropOver the last 90 days, the stock is down 29%. The fair value is estimated to be €4.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 89% over the last year. Earnings per share has grown by 56%. Revenue is forecast to grow by 93% in 2 years. Earnings is forecast to grow by 309% in the next 2 years.
Buying Opportunity • Jan 03Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 26%. The fair value is estimated to be €5.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 89% over the last year. Earnings per share has grown by 56%. Revenue is forecast to grow by 93% in 2 years. Earnings is forecast to grow by 309% in the next 2 years.
Buying Opportunity • Dec 13Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 25%. The fair value is estimated to be €5.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 89% over the last year. Earnings per share has grown by 56%. Revenue is forecast to grow by 93% in 2 years. Earnings is forecast to grow by 309% in the next 2 years.
Board Change • Nov 21Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Director Giovanni Castellaneta was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Board Change • Jul 08Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. 1 independent director (3 non-independent directors). CFO & Vice Chairman of the Board Lara Lindozzi was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Board Change • May 10Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. 1 independent director (3 non-independent directors). CFO & Vice Chairman of the Board Lara Lindozzi was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Board Change • Mar 17Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. CFO & Vice Chairman of the Board Lara Lindozzi was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.