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KED

Keypath Education International ASX:KED Stock Report

Last Price

AU$0.94

Market Cap

AU$202.7m

7D

4.4%

1Y

-71.4%

Updated

29 Sep, 2022

Data

Company Financials +
KED fundamental analysis
Snowflake Score
Valuation5/6
Future Growth1/6
Past Performance0/6
Financial Health5/6
Dividends0/6

KED Stock Overview

Keypath Education International, Inc. designs, develops, and delivers career-relevant online education solutions in North America, the Asia-Pacific, and internationally.

Keypath Education International Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Keypath Education International
Historical stock prices
Current Share PriceAU$0.94
52 Week HighAU$3.30
52 Week LowAU$0.90
Beta0
1 Month Change-4.55%
3 Month Change-17.83%
1 Year Change-71.36%
3 Year Changen/a
5 Year Changen/a
Change since IPO-73.38%

Recent News & Updates

Shareholder Returns

KEDAU Consumer ServicesAU Market
7D4.4%-2.4%-3.8%
1Y-71.4%-20.3%-12.6%

Return vs Industry: KED underperformed the Australian Consumer Services industry which returned -20.3% over the past year.

Return vs Market: KED underperformed the Australian Market which returned -12.6% over the past year.

Price Volatility

Is KED's price volatile compared to industry and market?
KED volatility
KED Average Weekly Movement7.4%
Consumer Services Industry Average Movement7.5%
Market Average Movement9.6%
10% most volatile stocks in AU Market16.8%
10% least volatile stocks in AU Market4.2%

Stable Share Price: KED is not significantly more volatile than the rest of Australian stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: KED's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2014750Steve Firenghttps://keypathedu.com

Keypath Education International, Inc. designs, develops, and delivers career-relevant online education solutions in North America, the Asia-Pacific, and internationally. Its services include predictive analytics and market assessment; develop, design, and deliver online degrees and courses; program marketing and student recruitment; and engagement, retention, and student outcomes services, as well as course development and placement OPM services. The company was founded in 2014 and is based in Schaumburg, Illinois.

Keypath Education International Fundamentals Summary

How do Keypath Education International's earnings and revenue compare to its market cap?
KED fundamental statistics
Market CapAU$202.68m
Earnings (TTM)-AU$41.18m
Revenue (TTM)AU$182.64m

1.1x

P/S Ratio

-4.9x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
KED income statement (TTM)
RevenueUS$118.40m
Cost of RevenueUS$73.53m
Gross ProfitUS$44.87m
Other ExpensesUS$71.56m
Earnings-US$26.69m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Oct 25, 2022

Earnings per share (EPS)-0.12
Gross Margin37.90%
Net Profit Margin-22.55%
Debt/Equity Ratio0%

How did KED perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is KED undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for KED?

Other financial metrics that can be useful for relative valuation.

KED key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.7x
Enterprise Value/EBITDA-3.8x
PEG Ration/a

Price to Sales Ratio vs Peers

How does KED's PS Ratio compare to its peers?

KED PS Ratio vs Peers
The above table shows the PS ratio for KED vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average2.8x
ICT iCollege
4.9x26.9%AU$230.0m
3PL 3P Learning
3.7x9.5%AU$362.2m
KME Kip McGrath Education Centres
1.8xn/aAU$45.2m
8VI 8VI Holdings
0.8xn/aAU$28.3m
KED Keypath Education International
1.1x13.2%AU$202.7m

Price-To-Sales vs Peers: KED is good value based on its Price-To-Sales Ratio (1.1x) compared to the peer average (2.8x).


Price to Earnings Ratio vs Industry

How does KED's PE Ratio compare vs other companies in the Oceanian Consumer Services Industry?

Price-To-Sales vs Industry: KED is good value based on its Price-To-Sales Ratio (1.1x) compared to the Global Consumer Services industry average (1.3x)


Price to Sales Ratio vs Fair Ratio

What is KED's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

KED PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.1x
Fair PS Ratio2.3x

Price-To-Sales vs Fair Ratio: KED is good value based on its Price-To-Sales Ratio (1.1x) compared to the estimated Fair Price-To-Sales Ratio (2.3x).


Share Price vs Fair Value

What is the Fair Price of KED when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: KED (A$0.95) is trading below our estimate of fair value (A$7.01)

Significantly Below Fair Value: KED is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Keypath Education International forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


54.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KED is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: KED is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: KED is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: KED's revenue (13.2% per year) is forecast to grow faster than the Australian market (3.6% per year).

High Growth Revenue: KED's revenue (13.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: KED is forecast to be unprofitable in 3 years.


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Past Performance

How has Keypath Education International performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-32.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: KED is currently unprofitable.

Growing Profit Margin: KED is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: KED is unprofitable, and losses have increased over the past 5 years at a rate of 32.1% per year.

Accelerating Growth: Unable to compare KED's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: KED is unprofitable, making it difficult to compare its past year earnings growth to the Consumer Services industry (-59%).


Return on Equity

High ROE: KED has a negative Return on Equity (-36.95%), as it is currently unprofitable.


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Financial Health

How is Keypath Education International's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: KED's short term assets ($78.1M) exceed its short term liabilities ($29.3M).

Long Term Liabilities: KED's short term assets ($78.1M) exceed its long term liabilities ($440.0K).


Debt to Equity History and Analysis

Debt Level: KED is debt free.

Reducing Debt: KED had no debt 5 years ago.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: KED has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if KED has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


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Dividend

What is Keypath Education International current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Keypath Education International Dividend Yield vs Market
How does Keypath Education International dividend yield compare to the market?
SegmentDividend Yield
Company (Keypath Education International)n/a
Market Bottom 25% (AU)2.8%
Market Top 25% (AU)7.2%
Industry Average (Consumer Services)1.5%
Analyst forecast in 3 Years (Keypath Education International)0%

Notable Dividend: Unable to evaluate KED's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate KED's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if KED's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if KED's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as KED has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

4.1yrs

Average management tenure


CEO

Steve Fireng (53 yo)

1.5yrs

Tenure

US$3,432,800

Compensation

Mr. Stephen C. Fireng, also known as Steve, is the Global Chief Executive Officer and Founder of Keypath since 2014 and serves as an Executive Director since March 2021 and has served as CEO of the Keypath...


CEO Compensation Analysis

Steve Fireng's Compensation vs Keypath Education International Earnings
How has Steve Fireng's remuneration changed compared to Keypath Education International's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

-US$27m

Mar 31 2022n/an/a

-US$57m

Dec 31 2021n/an/a

-US$88m

Sep 30 2021n/an/a

-US$83m

Jun 30 2021US$3mUS$550k

-US$79m

Compensation vs Market: Steve's total compensation ($USD3.43M) is above average for companies of similar size in the Australian market ($USD272.76K).

Compensation vs Earnings: Insufficient data to compare Steve's compensation with company performance.


Leadership Team

Experienced Management: KED's management team is considered experienced (4.1 years average tenure).


Board Members

Experienced Board: KED's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

ASX:KED Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
12 May 22BuyAU$21,000Diana EilertIndividual12,000AU$1.75
12 May 22BuyAU$29,925Robert BazzaniIndividual17,100AU$1.75
08 Mar 22BuyAU$2,309,999Regal Partners LimitedCompany1,000,000AU$2.31
24 Nov 21BuyAU$8,870,148Lennox Capital PartnersCompany3,356,463AU$3.51
24 Nov 21BuyAU$8,164,635Challenger LimitedCompany3,140,245AU$2.60
22 Oct 21BuyAU$6,716,202Challenger LimitedCompany2,307,970AU$2.91
14 Oct 21SellAU$390,421Challenger LimitedCompany129,272AU$3.02
14 Oct 21SellAU$344,005Lennox Capital PartnersCompany116,218AU$2.96

Ownership Breakdown

What is the ownership structure of KED?
Owner TypeNumber of SharesOwnership Percentage
General Public6,789,8003.2%
Individual Insiders9,565,3734.5%
Hedge Funds10,759,1035.0%
Institutions45,337,30521.1%
Private Companies141,965,53966.2%

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3%.


Top Shareholders

Top 16 shareholders own 96.83% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
66.08%
Avi Mezz Co., L.P.
141,687,978$133.9m0%no data
9.2%
Challenger Limited
19,724,752$18.6m0%0.47%
6.32%
Lennox Capital Partners
13,541,717$12.8m0%5.85%
5.02%
Regal Partners Limited
10,759,103$10.2m0%0.71%
4.37%
Stephen Fireng
9,362,419$8.8m0%no data
3.74%
BNP Paribas Arbitrage Sa, Asset Management Arm
8,015,082$7.6m0%0.01%
0.62%
MAM Pty Limited
1,323,662$1.3m0%0.08%
0.6%
Commonwealth Superannuation Corporation
1,287,908$1.2m0%0.02%
0.33%
abrdn plc
704,511$665.8k0%no data
0.31%
I.O.O.F. Investment Management Limited
662,500$626.1k0%0.19%
0.13%
Gsjbw Managed
277,561$262.3k0%no data
0.043%
Diana Eilert
92,863$87.8k14.84%no data
0.036%
AMP Limited, Asset Management Arm
77,173$72.9k0%1.17%
0.022%
Robert Bazzani
48,097$45.5k55.17%no data
0.014%
Melanie Laing
30,997$29.3k0%no data
0.014%
Susan Wolford
30,997$29.3k0%no data

Company Information

Keypath Education International, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Keypath Education International, Inc.
  • Ticker: KED
  • Exchange: ASX
  • Founded: 2014
  • Industry: Education Services
  • Sector: Consumer Services
  • Implied Market Cap: AU$202.681m
  • Shares outstanding: 214.48m
  • Website: https://keypathedu.com

Number of Employees


Location

  • Keypath Education International, Inc.
  • 1933 North Meacham Road
  • Suite 400
  • Schaumburg
  • Illinois
  • 60173
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KEDCHIA (Chi-X Australia)YesChess Depositary Interests 1:1AUAUDJun 2021
KEDASX (Australian Securities Exchange)YesChess Depositary Interests 1:1AUAUDJun 2021

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/29 00:00
End of Day Share Price2022/09/29 00:00
Earnings2022/06/30
Annual Earnings2022/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.