View Future GrowthThis company listing is no longer activeThis company may still be operating, however this listing is no longer active. Find out why through their latest events.See Latest EventsAltium 過去の業績過去 基準チェック /36Altiumは、平均年間12.4%の収益成長を遂げていますが、 Software業界の収益は、年間 成長しています。収益は、平均年間10.4% 11.9%収益成長率で 成長しています。 Altiumの自己資本利益率は22.1%であり、純利益率は24.7%です。主要情報12.42%収益成長率12.15%EPS成長率Software 業界の成長14.88%収益成長率11.86%株主資本利益率22.09%ネット・マージン24.70%前回の決算情報31 Dec 2023最近の業績更新Reported Earnings • Feb 28First half 2024 earnings released: EPS: US$0.25 (vs US$0.23 in 1H 2023)First half 2024 results: EPS: US$0.25 (up from US$0.23 in 1H 2023). Revenue: US$138.6m (up 16% from 1H 2023). Net income: US$33.0m (up 11% from 1H 2023). Profit margin: 24% (down from 25% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 32% per year.お知らせ • Feb 15Altium Limited to Report First Half, 2024 Results on Feb 27, 2024Altium Limited announced that they will report first half, 2024 results on Feb 27, 2024Reported Earnings • Aug 22Full year 2023 earnings released: EPS: US$0.50 (vs US$0.42 in FY 2022)Full year 2023 results: EPS: US$0.50 (up from US$0.42 in FY 2022). Revenue: US$263.3m (up 19% from FY 2022). Net income: US$66.3m (up 20% from FY 2022). Profit margin: 25% (in line with FY 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.お知らせ • Jul 12Altium Limited to Report Fiscal Year 2023 Results on Aug 21, 2023Altium Limited announced that they will report fiscal year 2023 results After-Market on Aug 21, 2023Reported Earnings • Feb 21First half 2023 earnings released: EPS: US$0.23 (vs US$0.17 in 1H 2022)First half 2023 results: EPS: US$0.23 (up from US$0.17 in 1H 2022). Revenue: US$119.5m (up 17% from 1H 2022). Net income: US$29.6m (up 29% from 1H 2022). Profit margin: 25% (up from 22% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.お知らせ • Jan 16Altium Limited to Report First Half, 2023 Results on Feb 20, 2023Altium Limited announced that they will report first half, 2023 results on Feb 20, 2023すべての更新を表示Recent updatesお知らせ • Aug 02Altium to be Removed from the Official List of ASX at the Close of Trading on August 2, 2024Renesas Electronics Corporation and Altium Limited (“Altium”) announced the successful completion of the acquisition of Altium by Renesas. The definitive agreement to acquire Altium was announced on February 15, 2024. As part of the implementation of the Scheme, Altium ordinary shares were suspended from trading on the Australian Securities Exchange at the close of trading on July 19, 2024, and Altium will be removed from the Official List of the Australian Securities Exchange at the close of trading on August 2, 2024.お知らせ • Jul 22Altium Limited(ASX:ALU) dropped from FTSE All-World Index (USD)Altium Limited(ASX:ALU) dropped from FTSE All-World Index (USD)Declared Dividend • Feb 29First half dividend of AU$0.30 announcedShareholders will receive a dividend of AU$0.30. Ex-date: 4th March 2024 Payment date: 26th March 2024 Dividend yield will be 1.2%, which is lower than the industry average of 1.5%. Sustainability & Growth Dividend is covered by earnings (74% earnings payout ratio) but not covered by cash flows (112% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 75% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Feb 28First half 2024 earnings released: EPS: US$0.25 (vs US$0.23 in 1H 2023)First half 2024 results: EPS: US$0.25 (up from US$0.23 in 1H 2023). Revenue: US$138.6m (up 16% from 1H 2023). Net income: US$33.0m (up 11% from 1H 2023). Profit margin: 24% (down from 25% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 32% per year.New Risk • Feb 27New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 28% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (28% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (9.2% average weekly change).Buy Or Sell Opportunity • Feb 16Now 26% overvalued after recent price riseOver the last 90 days, the stock has risen 56% to €40.80. The fair value is estimated to be €32.50, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 43%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 20% per annum over the same time period.お知らせ • Feb 15Altium Limited to Report First Half, 2024 Results on Feb 27, 2024Altium Limited announced that they will report first half, 2024 results on Feb 27, 2024お知らせ • Jan 12Altium Launches Altium 365 Bom Portal: Bridging the Gap Between Engineering and Procurement TeamsAltium, LLC announces the launch of the BOM Portal within the Altium 365 platform. The BOM Portal is engineered to dramatically enhance collaboration between engineering and procurement teams, offering a unified approach to managing Bills of Materials (BOMs) in electronics design. Procurement professionals now have visibility into upcoming designs before they are released, enabling them to catch issues early in the development process. Both procurement and engineering teams benefit from a comprehensive dashboard that monitors all Bills of Materials (BOMs) in production and provides immediate insights into any parts supply issues. The BOM Portal on Altium 365 fosters efficient collaboration and informed decision-making across the product lifecycle. By integrating with top data sources like Octopart, SiliconExpert, and S&P Global, it provides companies with real-time, accurate component data. This is crucial for making smart, data-driven decisions. Key Capabilities of the BOM Portal: BOM Management Integrated with Hardware Development: BOM Portal breaks down barriers between engineering and procurement teams, fostering direct communication and significantly reducing the risk of miscommunication, mistakes, and delays. Advanced Data Integration: BOM Portal provides access to real-time, detailed component information from Octopart, S&P Global (formerly IHS Markit), SiliconExpert, and soon Z2Data, enhancing the procurement and design process. Comprehensive BOM Management: BOM Portal equips users with tools for efficient BOM management, including automatic data enrichment with part details and lifecycle information. Risk Mitigation: BOM Portal proactively identifies potential supply chain disruptions and component obsolescence, enabling timely responses to component and market fluctuations. Cost and Time Efficiency: Up to 80% of PCB designs require part replacements, often taking 40 hours to resolve sourcing issues. The capabilities of BOM Portal coupled with data integrations reduces this to a fraction of the time, expediting the design process and reducing time to market.お知らせ • Nov 17Altium Limited Announces Company Secretary ChangesAltium Limited announced the retirement of Ms. Natasha Davidson as Company Secretary. Ms. Davidson will remain as General Counsel for Altium Limited and focus on the commercial development of the Company. Ms. Tanya Thomas has been appointed as Company Secretary effective 17 November 2023.Ms Thomas, who joined Altium in November 2022, is an experienced executive, with a background in Investor Relations and Media/Communication roles with ASX 200 companies in technology and financial services. Altium Limited further advises that in accordance with Listing Rule 12.6, Ms. Thomas is now the person responsible for communication with the ASX in relation to ASX Listing Rule matters.お知らせ • Nov 02Altium Limited Appoints Michael Hawker as Director, Effective 1 November 2023Altium Limited announced appointment Michael Hawker as director. Date of appointment is 1 November 2023.Buying Opportunity • Oct 26Now 21% undervaluedOver the last 90 days, the stock is up 5.3%. The fair value is estimated to be €29.96, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 43%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings is also forecast to grow by 18% per annum over the same time period.Board Change • Sep 27High number of new directorsIndependent Non-Executive Director Sylvia Wiggins was the last director to join the board, commencing their role in 2023.お知らせ • Sep 15+ 1 more updateAltium Limited Provides Revenue Guidance for the Financial Year 2026Altium Limited provided revenue guidance for the financial year 2026. For the period, the company expects Total Revenue of USD 500 million.Upcoming Dividend • Aug 28Upcoming dividend of AU$0.29 per share at 1.1% yieldEligible shareholders must have bought the stock before 04 September 2023. Payment date: 26 September 2023. Payout ratio is a comfortable 71% and the cash payout ratio is 87%. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (1.6%).New Risk • Aug 22New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company.Reported Earnings • Aug 22Full year 2023 earnings released: EPS: US$0.50 (vs US$0.42 in FY 2022)Full year 2023 results: EPS: US$0.50 (up from US$0.42 in FY 2022). Revenue: US$263.3m (up 19% from FY 2022). Net income: US$66.3m (up 20% from FY 2022). Profit margin: 25% (in line with FY 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.お知らせ • Aug 21+ 2 more updatesAltium Limited, Annual General Meeting, Nov 16, 2023Altium Limited, Annual General Meeting, Nov 16, 2023.お知らせ • Jul 12Altium Limited to Report Fiscal Year 2023 Results on Aug 21, 2023Altium Limited announced that they will report fiscal year 2023 results After-Market on Aug 21, 2023Upcoming Dividend • Feb 27Upcoming dividend of AU$0.25 per share at 1.3% yieldEligible shareholders must have bought the stock before 06 March 2023. Payment date: 21 March 2023. Payout ratio is a comfortable 72% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (1.8%).Reported Earnings • Feb 21First half 2023 earnings released: EPS: US$0.23 (vs US$0.17 in 1H 2022)First half 2023 results: EPS: US$0.23 (up from US$0.17 in 1H 2022). Revenue: US$119.5m (up 17% from 1H 2022). Net income: US$29.6m (up 29% from 1H 2022). Profit margin: 25% (up from 22% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.お知らせ • Jan 16Altium Limited to Report First Half, 2023 Results on Feb 20, 2023Altium Limited announced that they will report first half, 2023 results on Feb 20, 2023Valuation Update With 7 Day Price Move • Aug 29Investor sentiment improved over the past weekAfter last week's 24% share price gain to €25.30, the stock trades at a forward P/E ratio of 50x. Average forward P/E is 20x in the Software industry in Germany. Total returns to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €26.01 per share.Reported Earnings • Aug 23Full year 2022 earnings released: EPS: US$0.42 (vs US$0.27 in FY 2021)Full year 2022 results: EPS: US$0.42 (up from US$0.27 in FY 2021). Revenue: US$220.8m (up 23% from FY 2021). Net income: US$55.5m (up 57% from FY 2021). Profit margin: 25% (up from 20% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 17%, compared to a 7.8% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 2% per year.Upcoming Dividend • Feb 28Upcoming dividend of AU$0.21 per shareEligible shareholders must have bought the stock before 07 March 2022. Payment date: 22 March 2022. Payout ratio is on the higher end at 97%, however this is supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (1.7%).Recent Insider Transactions • Feb 25Independent Non-Executive Chairman recently bought €82k worth of stockOn the 23rd of February, Samuel Weiss bought around 4k shares on-market at roughly €20.61 per share. This was the largest purchase by an insider in the last 3 months. This was Samuel's only on-market trade for the last 12 months.Reported Earnings • Feb 24First half 2022 earnings: EPS in line with analyst expectations despite revenue beatFirst half 2022 results: EPS: US$0.17 (up from US$0.13 in 1H 2021). Revenue: US$102.2m (up 28% from 1H 2021). Net income: US$22.9m (up 38% from 1H 2021). Profit margin: 22% (up from 21% in 1H 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.5%. Over the next year, revenue is forecast to grow 16%, compared to a 15% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.Board Change • Sep 07Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. President, CTO & Executive Director Sergey Kostinsky was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Is New 90 Day High Low • Feb 25New 90-day low: €17.60The company is down 20% from its price of €22.00 on 26 November 2020. The German market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €27.03 per share.Analyst Estimate Surprise Post Earnings • Feb 17Revenue beats expectationsRevenue exceeded analyst estimates by 1.9%. Over the next year, revenue is forecast to grow 10%, compared to a 31% growth forecast for the Software industry in Germany.Is New 90 Day High Low • Jan 07New 90-day low: €19.90The company is down 12% from its price of €22.60 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is down 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €22.68 per share.Is New 90 Day High Low • Oct 12New 90-day high: €23.20The company is up 18% from its price of €19.60 on 14 July 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €17.81 per share.収支内訳Altium の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史DB:A5V 収益、費用、利益 ( )USD Millions日付収益収益G+A経費研究開発費31 Dec 232827038030 Sep 232736837030 Jun 232636635031 Mar 232516434031 Dec 222386232030 Sep 222295930030 Jun 222215527031 Mar 222124833031 Dec 212024222030 Sep 211913820030 Jun 211803519031 Mar 211732610031 Dec 201661719030 Sep 201681920030 Jun 201692021031 Mar 201733421031 Dec 191774821030 Sep 191745121030 Jun 191725322031 Mar 191634921031 Dec 181554621030 Sep 181484219030 Jun 181403717031 Mar 181333517031 Dec 171253316030 Sep 171183116030 Jun 171112815031 Mar 171052614031 Dec 161002414030 Sep 16972313030 Jun 16942313031 Mar 16895913031 Dec 15859513030 Sep 15839413030 Jun 15809212031 Mar 15785313031 Dec 14761513030 Sep 14741313030 Jun 14711113031 Mar 14681010031 Dec 136597030 Sep 1364590質の高い収益: A5V 非現金収入 のレベルが高いです。利益率の向上: A5Vの現在の純利益率 (24.7%)は、昨年(26.1%)よりも低くなっています。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: A5Vの収益は過去 5 年間で年間12.4%増加しました。成長の加速: A5Vの過去 1 年間の収益成長率 ( 12% ) は、5 年間の平均 ( 年間12.4%を下回っています。収益対業界: A5Vの過去 1 年間の収益成長率 ( 12% ) はSoftware業界26.7%を上回りました。株主資本利益率高いROE: A5Vの 自己資本利益率 ( 22.1% ) は 高い とみなされます。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YSoftware 、過去の業績が好調な企業。View Financial Health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2024/07/31 13:25終値2024/07/31 00:00収益2023/12/31年間収益2023/06/30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Altium Limited 10 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。15 アナリスト機関Ware KuoBofA Global ResearchSiraj AhmedCitigroup IncRichard BarwickCLSA12 その他のアナリストを表示
Reported Earnings • Feb 28First half 2024 earnings released: EPS: US$0.25 (vs US$0.23 in 1H 2023)First half 2024 results: EPS: US$0.25 (up from US$0.23 in 1H 2023). Revenue: US$138.6m (up 16% from 1H 2023). Net income: US$33.0m (up 11% from 1H 2023). Profit margin: 24% (down from 25% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 32% per year.
お知らせ • Feb 15Altium Limited to Report First Half, 2024 Results on Feb 27, 2024Altium Limited announced that they will report first half, 2024 results on Feb 27, 2024
Reported Earnings • Aug 22Full year 2023 earnings released: EPS: US$0.50 (vs US$0.42 in FY 2022)Full year 2023 results: EPS: US$0.50 (up from US$0.42 in FY 2022). Revenue: US$263.3m (up 19% from FY 2022). Net income: US$66.3m (up 20% from FY 2022). Profit margin: 25% (in line with FY 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
お知らせ • Jul 12Altium Limited to Report Fiscal Year 2023 Results on Aug 21, 2023Altium Limited announced that they will report fiscal year 2023 results After-Market on Aug 21, 2023
Reported Earnings • Feb 21First half 2023 earnings released: EPS: US$0.23 (vs US$0.17 in 1H 2022)First half 2023 results: EPS: US$0.23 (up from US$0.17 in 1H 2022). Revenue: US$119.5m (up 17% from 1H 2022). Net income: US$29.6m (up 29% from 1H 2022). Profit margin: 25% (up from 22% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.
お知らせ • Jan 16Altium Limited to Report First Half, 2023 Results on Feb 20, 2023Altium Limited announced that they will report first half, 2023 results on Feb 20, 2023
お知らせ • Aug 02Altium to be Removed from the Official List of ASX at the Close of Trading on August 2, 2024Renesas Electronics Corporation and Altium Limited (“Altium”) announced the successful completion of the acquisition of Altium by Renesas. The definitive agreement to acquire Altium was announced on February 15, 2024. As part of the implementation of the Scheme, Altium ordinary shares were suspended from trading on the Australian Securities Exchange at the close of trading on July 19, 2024, and Altium will be removed from the Official List of the Australian Securities Exchange at the close of trading on August 2, 2024.
お知らせ • Jul 22Altium Limited(ASX:ALU) dropped from FTSE All-World Index (USD)Altium Limited(ASX:ALU) dropped from FTSE All-World Index (USD)
Declared Dividend • Feb 29First half dividend of AU$0.30 announcedShareholders will receive a dividend of AU$0.30. Ex-date: 4th March 2024 Payment date: 26th March 2024 Dividend yield will be 1.2%, which is lower than the industry average of 1.5%. Sustainability & Growth Dividend is covered by earnings (74% earnings payout ratio) but not covered by cash flows (112% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 75% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Feb 28First half 2024 earnings released: EPS: US$0.25 (vs US$0.23 in 1H 2023)First half 2024 results: EPS: US$0.25 (up from US$0.23 in 1H 2023). Revenue: US$138.6m (up 16% from 1H 2023). Net income: US$33.0m (up 11% from 1H 2023). Profit margin: 24% (down from 25% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 32% per year.
New Risk • Feb 27New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 28% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (28% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (9.2% average weekly change).
Buy Or Sell Opportunity • Feb 16Now 26% overvalued after recent price riseOver the last 90 days, the stock has risen 56% to €40.80. The fair value is estimated to be €32.50, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 43%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 20% per annum over the same time period.
お知らせ • Feb 15Altium Limited to Report First Half, 2024 Results on Feb 27, 2024Altium Limited announced that they will report first half, 2024 results on Feb 27, 2024
お知らせ • Jan 12Altium Launches Altium 365 Bom Portal: Bridging the Gap Between Engineering and Procurement TeamsAltium, LLC announces the launch of the BOM Portal within the Altium 365 platform. The BOM Portal is engineered to dramatically enhance collaboration between engineering and procurement teams, offering a unified approach to managing Bills of Materials (BOMs) in electronics design. Procurement professionals now have visibility into upcoming designs before they are released, enabling them to catch issues early in the development process. Both procurement and engineering teams benefit from a comprehensive dashboard that monitors all Bills of Materials (BOMs) in production and provides immediate insights into any parts supply issues. The BOM Portal on Altium 365 fosters efficient collaboration and informed decision-making across the product lifecycle. By integrating with top data sources like Octopart, SiliconExpert, and S&P Global, it provides companies with real-time, accurate component data. This is crucial for making smart, data-driven decisions. Key Capabilities of the BOM Portal: BOM Management Integrated with Hardware Development: BOM Portal breaks down barriers between engineering and procurement teams, fostering direct communication and significantly reducing the risk of miscommunication, mistakes, and delays. Advanced Data Integration: BOM Portal provides access to real-time, detailed component information from Octopart, S&P Global (formerly IHS Markit), SiliconExpert, and soon Z2Data, enhancing the procurement and design process. Comprehensive BOM Management: BOM Portal equips users with tools for efficient BOM management, including automatic data enrichment with part details and lifecycle information. Risk Mitigation: BOM Portal proactively identifies potential supply chain disruptions and component obsolescence, enabling timely responses to component and market fluctuations. Cost and Time Efficiency: Up to 80% of PCB designs require part replacements, often taking 40 hours to resolve sourcing issues. The capabilities of BOM Portal coupled with data integrations reduces this to a fraction of the time, expediting the design process and reducing time to market.
お知らせ • Nov 17Altium Limited Announces Company Secretary ChangesAltium Limited announced the retirement of Ms. Natasha Davidson as Company Secretary. Ms. Davidson will remain as General Counsel for Altium Limited and focus on the commercial development of the Company. Ms. Tanya Thomas has been appointed as Company Secretary effective 17 November 2023.Ms Thomas, who joined Altium in November 2022, is an experienced executive, with a background in Investor Relations and Media/Communication roles with ASX 200 companies in technology and financial services. Altium Limited further advises that in accordance with Listing Rule 12.6, Ms. Thomas is now the person responsible for communication with the ASX in relation to ASX Listing Rule matters.
お知らせ • Nov 02Altium Limited Appoints Michael Hawker as Director, Effective 1 November 2023Altium Limited announced appointment Michael Hawker as director. Date of appointment is 1 November 2023.
Buying Opportunity • Oct 26Now 21% undervaluedOver the last 90 days, the stock is up 5.3%. The fair value is estimated to be €29.96, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 43%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings is also forecast to grow by 18% per annum over the same time period.
Board Change • Sep 27High number of new directorsIndependent Non-Executive Director Sylvia Wiggins was the last director to join the board, commencing their role in 2023.
お知らせ • Sep 15+ 1 more updateAltium Limited Provides Revenue Guidance for the Financial Year 2026Altium Limited provided revenue guidance for the financial year 2026. For the period, the company expects Total Revenue of USD 500 million.
Upcoming Dividend • Aug 28Upcoming dividend of AU$0.29 per share at 1.1% yieldEligible shareholders must have bought the stock before 04 September 2023. Payment date: 26 September 2023. Payout ratio is a comfortable 71% and the cash payout ratio is 87%. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (1.6%).
New Risk • Aug 22New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company.
Reported Earnings • Aug 22Full year 2023 earnings released: EPS: US$0.50 (vs US$0.42 in FY 2022)Full year 2023 results: EPS: US$0.50 (up from US$0.42 in FY 2022). Revenue: US$263.3m (up 19% from FY 2022). Net income: US$66.3m (up 20% from FY 2022). Profit margin: 25% (in line with FY 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
お知らせ • Aug 21+ 2 more updatesAltium Limited, Annual General Meeting, Nov 16, 2023Altium Limited, Annual General Meeting, Nov 16, 2023.
お知らせ • Jul 12Altium Limited to Report Fiscal Year 2023 Results on Aug 21, 2023Altium Limited announced that they will report fiscal year 2023 results After-Market on Aug 21, 2023
Upcoming Dividend • Feb 27Upcoming dividend of AU$0.25 per share at 1.3% yieldEligible shareholders must have bought the stock before 06 March 2023. Payment date: 21 March 2023. Payout ratio is a comfortable 72% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (1.8%).
Reported Earnings • Feb 21First half 2023 earnings released: EPS: US$0.23 (vs US$0.17 in 1H 2022)First half 2023 results: EPS: US$0.23 (up from US$0.17 in 1H 2022). Revenue: US$119.5m (up 17% from 1H 2022). Net income: US$29.6m (up 29% from 1H 2022). Profit margin: 25% (up from 22% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.
お知らせ • Jan 16Altium Limited to Report First Half, 2023 Results on Feb 20, 2023Altium Limited announced that they will report first half, 2023 results on Feb 20, 2023
Valuation Update With 7 Day Price Move • Aug 29Investor sentiment improved over the past weekAfter last week's 24% share price gain to €25.30, the stock trades at a forward P/E ratio of 50x. Average forward P/E is 20x in the Software industry in Germany. Total returns to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €26.01 per share.
Reported Earnings • Aug 23Full year 2022 earnings released: EPS: US$0.42 (vs US$0.27 in FY 2021)Full year 2022 results: EPS: US$0.42 (up from US$0.27 in FY 2021). Revenue: US$220.8m (up 23% from FY 2021). Net income: US$55.5m (up 57% from FY 2021). Profit margin: 25% (up from 20% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 17%, compared to a 7.8% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 2% per year.
Upcoming Dividend • Feb 28Upcoming dividend of AU$0.21 per shareEligible shareholders must have bought the stock before 07 March 2022. Payment date: 22 March 2022. Payout ratio is on the higher end at 97%, however this is supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (1.7%).
Recent Insider Transactions • Feb 25Independent Non-Executive Chairman recently bought €82k worth of stockOn the 23rd of February, Samuel Weiss bought around 4k shares on-market at roughly €20.61 per share. This was the largest purchase by an insider in the last 3 months. This was Samuel's only on-market trade for the last 12 months.
Reported Earnings • Feb 24First half 2022 earnings: EPS in line with analyst expectations despite revenue beatFirst half 2022 results: EPS: US$0.17 (up from US$0.13 in 1H 2021). Revenue: US$102.2m (up 28% from 1H 2021). Net income: US$22.9m (up 38% from 1H 2021). Profit margin: 22% (up from 21% in 1H 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.5%. Over the next year, revenue is forecast to grow 16%, compared to a 15% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
Board Change • Sep 07Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. President, CTO & Executive Director Sergey Kostinsky was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Is New 90 Day High Low • Feb 25New 90-day low: €17.60The company is down 20% from its price of €22.00 on 26 November 2020. The German market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €27.03 per share.
Analyst Estimate Surprise Post Earnings • Feb 17Revenue beats expectationsRevenue exceeded analyst estimates by 1.9%. Over the next year, revenue is forecast to grow 10%, compared to a 31% growth forecast for the Software industry in Germany.
Is New 90 Day High Low • Jan 07New 90-day low: €19.90The company is down 12% from its price of €22.60 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is down 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €22.68 per share.
Is New 90 Day High Low • Oct 12New 90-day high: €23.20The company is up 18% from its price of €19.60 on 14 July 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €17.81 per share.