View Future GrowthThis company listing is no longer activeThis company may still be operating, however this listing is no longer active.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 과거 순이익 실적과거 기준 점검 3/6Altium은 연평균 12.4%의 비율로 수입이 증가해 온 반면, Software 산업은 수입이 10.4% 증가했습니다. 매출은 연평균 11.9%의 비율로 증가했습니다. Altium의 자기자본이익률은 22.1%이고 순이익률은 24.7%입니다.핵심 정보12.42%순이익 성장률12.15%주당순이익(EPS) 성장률Software 산업 성장률14.88%매출 성장률11.86%자기자본이익률22.09%순이익률24.70%최근 순이익 업데이트31 Dec 2023최근 과거 실적 업데이트Reported 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.공시 • 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.공시 • 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.공시 • 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, 2023모든 업데이트 보기Recent updates공시 • 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.공시 • 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.공시 • 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, 2024공시 • 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.공시 • 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.공시 • 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.공시 • 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.공시 • Aug 21+ 2 more updatesAltium Limited, Annual General Meeting, Nov 16, 2023Altium Limited, Annual General Meeting, Nov 16, 2023.공시 • 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.공시 • 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.매출 및 비용 세부 내역Altium가 돈을 벌고 사용하는 방법. 최근 발표된 LTM 실적 기준.순이익 및 매출 추이DB:A5V 매출, 비용 및 순이익 (USD Millions)날짜매출순이익일반관리비연구개발비31 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 1364590양질의 수익: A5V의 비현금 수익 수준이 높습니다.이익 마진 증가: A5V의 현재 순 이익률 (24.7%)은 지난해 (26.1%)보다 낮습니다.잉여현금흐름 대비 순이익 분석과거 순이익 성장 분석수익추이: A5V의 수익은 지난 5년 동안 연평균 12.4% 증가했습니다.성장 가속화: 지난 1년간 A5V 의 수익 증가율(12%)은 5년 평균(연간 12.4%)보다 낮습니다.수익 대 산업: A5V의 지난 1년 수익 증가율(12%)은 Software 업계의 19.3%를 상회했습니다.자기자본이익률높은 ROE: A5V의 자본 수익률(22.1%)은 높음으로 평가됩니다.총자산이익률투하자본수익률우수한 과거 실적 기업을 찾아보세요7D1Y7D1Y7D1YSoftware 산업에서 과거 실적이 우수한 기업.View Financial Health기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2024/07/31 21:48종가2024/07/31 00:00수익2023/12/31연간 수익2023/06/30데이터 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 소스Altium Limited는 15명의 분석가가 다루고 있습니다. 이 중 10명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Ware KuoBofA Global ResearchSiraj AhmedCitigroup IncRichard BarwickCLSA12명의 분석가 더 보기
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.
공시 • 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.
공시 • 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.
공시 • 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
공시 • 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.
공시 • 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.
공시 • 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
공시 • 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.
공시 • 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.
공시 • 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.
공시 • 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.
공시 • Aug 21+ 2 more updatesAltium Limited, Annual General Meeting, Nov 16, 2023Altium Limited, Annual General Meeting, Nov 16, 2023.
공시 • 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.
공시 • 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.