Buy Or Sell Opportunity • Feb 25
Now 21% overvalued Over the last 90 days, the stock has fallen 1.5% to €105. The fair value is estimated to be €87.07, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 16%. Buy Or Sell Opportunity • Dec 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.5% to €104. The fair value is estimated to be €130, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 71% over the last 3 years. Earnings per share has declined by 67%. Buy Or Sell Opportunity • Nov 12
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at €105. The fair value is estimated to be €132, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 71% over the last 3 years. Earnings per share has declined by 67%. Buy Or Sell Opportunity • Oct 23
Now 20% undervalued Over the last 90 days, the stock has risen 1.8% to €110. The fair value is estimated to be €139, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 71% over the last 3 years. Earnings per share has declined by 67%. Buy Or Sell Opportunity • Oct 02
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.6% to €112. The fair value is estimated to be €140, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 71% over the last 3 years. Earnings per share has declined by 67%. Buying Opportunity • Oct 02
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 6.9%. The fair value is estimated to be €118, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 26% over the last 3 years. Earnings per share has declined by 24%. New Risk • Aug 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.3% 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 Risk Revenue is less than US$1m. Minor Risk Shareholders have been diluted in the past year (4.3% increase in shares outstanding). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non Executive Director René Beltjens was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • May 25
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €97.50, the stock trades at a trailing P/E ratio of 2.6x. Average trailing P/E is 11x in the Capital Markets industry in Europe. Total returns to shareholders of 62% over the past three years. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non Executive Director René Beltjens was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Is New 90 Day High Low • Mar 11
New 90-day high: €88.20 The company is up 10.0% from its price of €80.50 on 11 December 2020. The Luxembourger market is down 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 9.0% over the same period. Is New 90 Day High Low • Jan 23
New 90-day high: €85.00 The company is up 13% from its price of €75.00 on 23 October 2020. The Luxembourger market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Capital Markets industry, which is up 17% over the same period. Is New 90 Day High Low • Nov 27
New 90-day high: €80.00 The company is up 6.0% from its price of €75.30 on 28 August 2020. The Luxembourger market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Capital Markets industry, which is up 5.0% over the same period. Is New 90 Day High Low • Oct 29
New 90-day low: €71.80 The company is down 4.0% from its price of €74.50 on 30 July 2020. The Luxembourger market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is down 5.0% over the same period. Is New 90 Day High Low • Sep 29
New 90-day high: €78.50 The company is up 5.0% from its price of €74.60 on 01 July 2020. The Luxembourger market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is down 1.0% over the same period.