View Financial HealthVantea SMART 배당 및 자사주 매입배당 기준 점검 2/6Vantea SMART 수익으로 충분히 충당되는 현재 수익률 2.76% 보유한 배당금 지급 회사입니다.핵심 정보2.8%배당 수익률n/a자사주 매입 수익률총 주주 수익률n/a미래 배당 수익률n/a배당 성장률11.8%다음 배당 지급일n/a배당락일n/a주당 배당금n/a배당 성향28%최근 배당 및 자사주 매입 업데이트공지 • 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.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%).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%).모든 업데이트 보기Recent updates공지 • 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.공지 • 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).공지 • 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.지급의 안정성과 성장배당 데이터 가져오는 중안정적인 배당: 9X2 10년 미만 동안 배당금을 지급해 왔으며 이 기간 동안 지급액은 휘발성이었습니다.배당금 증가: 9X2 의 배당금 지급이 증가했지만 회사는 5 년 동안만 배당금을 지급했습니다.배당 수익률 vs 시장Vantea SMART 배당 수익률 vs 시장9X2의 배당 수익률은 시장과 어떻게 비교되나요?구분배당 수익률회사 (9X2)2.8%시장 하위 25% (DE)1.5%시장 상위 25% (DE)4.6%업계 평균 (Software)1.8%분석가 예측 (9X2) (최대 3년)n/a주목할만한 배당금: 9X2 의 배당금( 2.76% )은 German 시장에서 배당금 지급자의 하위 25%( 1.48% )보다 높습니다.고배당: 9X2 의 배당금( 2.76% )은 German 시장에서 배당금 지급자의 상위 25%( 4.58% )와 비교해 낮습니다.주주 대상 이익 배당수익 보장: 합리적으로 낮은 지불 비율 ( 28% )로 9X2 의 배당금 지급은 수익으로 충분히 충당됩니다.주주 현금 배당현금 흐름 범위: 배당금 지급이 현금 흐름에 의해 충당되는지 판단하기 위해 9X2 의 현금 지급 비율을 계산하기에는 데이터가 부족합니다.높은 배당을 제공하는 우량 기업 찾기7D1Y7D1Y7D1YDE 시장에서 배당이 강한 기업.View Management기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/07 08:08종가2026/05/07 00:00수익2025/06/30연간 수익2024/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Vantea SMART S.p.A.는 1명의 분석가가 다루고 있습니다. 이 중 1명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Mattia PetraccaIntegrae SPA
공지 • 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.
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%).
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%).
공지 • 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.
공지 • 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).
공지 • 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.