BeWhere Holdings (TSXV:BEW) - Share price, News & Analysis

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

BEW (CA$0.22) is trading above our estimate of [[fair value]] (CA$0.17)

BEW fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	0/6
Past Performance	3/6
Financial Health	5/6
Dividends	0/6

BEW Stock Overview

Rewards

Became profitable this year

Risk Analysis

Does not have a meaningful market cap (CA$19M)

BeWhere Holdings Competitors

NamSys

TSXV:CTZ

CA$17.5m

Looking Glass Labs

NEOE:NFTX

CA$19.5m

Zoomd Technologies

TSXV:ZOMD

CA$25.6m

Digihost Technology

TSXV:DGHI

CA$27.5m

Price History & Performance

Summary of all time highs, changes and price drops for BeWhere Holdings
Historical stock prices
Current Share Price	CA$0.22
52 Week High	CA$0.33
52 Week Low	CA$0.20
Beta	0.43
1 Month Change	-12.00%
3 Month Change	0%
1 Year Change	-21.43%
3 Year Change	18.92%
5 Year Change	-29.03%
Change since IPO	46.67%

Shareholder Returns

	BEW	CA Software	CA Market
7D	-6.4%	-3.2%	-4.8%
1Y	-21.4%	-43.5%	-7.3%

Return vs Industry: BEW exceeded the Canadian Software industry which returned -43.6% over the past year.

Return vs Market: BEW underperformed the Canadian Market which returned -7.2% over the past year.

Price Volatility

Is BEW's price volatile compared to industry and market?
BEW volatility
BEW Average Weekly Movement	9.1%
Software Industry Average Movement	11.9%
Market Average Movement	9.9%
10% most volatile stocks in CA Market	18.3%
10% least volatile stocks in CA Market	3.8%

Stable Share Price: BEW is not significantly more volatile than the rest of Canadian stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: BEW's weekly volatility (9%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2003	n/a	Owen Moore	https://www.bewhere.com

BeWhere Holdings Inc., an industrial Internet of Things (IIoT) solutions company, designs and sells hardware with sensors and software applications to track real-time information on fixed and movable assets. It develops mobile applications, middle-ware, and cloud-based solutions that stand-alone or that can be integrated with existing software. The company offers Mobile IoT (M-IOT) for the narrow band-IoT and long-term evolution for machines evolution of beacons, such as asset tracking, including mini USB rechargeable, ignition wired rechargeable, battery-powered, and rechargeable battery powered; environmental monitoring comprising M-IoT water pressure sensor solution, M-IoT weather station with leaf wetness sensor, M-IoT weather station with soil moisture sensor, M-IoT BeTen with soil moisture sensor, and M-IoT BeTen with water detection sensor; and asset tracking and environmental monitoring, including BeSol BLU Gateway for monitoring location, temperature zones, light exposure, and impact for goods in transit.

BeWhere Holdings Fundamentals Summary

How do BeWhere Holdings's earnings and revenue compare to its market cap?
BEW fundamental statistics
Market Cap	CA$19.37m
Earnings (TTM)	CA$493.03k
Revenue (TTM)	CA$9.63m

39.4x

P/E Ratio

2.0x

P/S Ratio

Is BEW overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
BEW income statement (TTM)
Revenue	CA$9.63m
Cost of Revenue	CA$6.52m
Gross Profit	CA$3.10m
Other Expenses	CA$2.61m
Earnings	CA$493.03k

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	0.0056
Gross Margin	32.23%
Net Profit Margin	5.12%
Debt/Equity Ratio	1.8%

How did BEW perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

2/6

Valuation Score 2/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings 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 BEW?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for BEW. This is calculated by dividing BEW's market cap by their current preferred multiple.
What is BEW's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	CA$19.37m

BEW 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/Revenue	1.7x
Enterprise Value/EBITDA	30.2x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does BEW's PE Ratio compare to its peers?

BEW PE Ratio vs Peers

The above table shows the PE ratio for BEW vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	44x
CTZ NamSys	13.9x	n/a	CA$17.5m
NFTX Looking Glass Labs	154.6x	n/a	CA$19.5m
ZOMD Zoomd Technologies	5.5x	n/a	CA$25.6m
DGHI Digihost Technology	1.8x	n/a	CA$27.5m
BEW BeWhere Holdings	39.4x	n/a	CA$19.4m

Price-To-Earnings vs Peers: BEW is good value based on its Price-To-Earnings Ratio (39.4x) compared to the peer average (44x).

Price to Earnings Ratio vs Industry

How does BEW's PE Ratio compare vs other companies in the CA Software Industry?

Price-To-Earnings vs Industry: BEW is good value based on its Price-To-Earnings Ratio (39.4x) compared to the North American Software industry average (39.4x)

Price to Earnings Ratio vs Fair Ratio

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

BEW PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	39.4x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate BEW's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

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

Below Fair Value: BEW (CA$0.22) is trading above our estimate of fair value (CA$0.17)

Significantly Below Fair Value: BEW is trading above our estimate of fair value.

Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.

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Future Growth

How is BeWhere Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

31.3%

Forecasted Software industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as BeWhere Holdings has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Discover growth companies

Examine BeWhere Holdings's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
BeWhere Holdings competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has BeWhere Holdings performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

26.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BEW has high quality earnings.

Growing Profit Margin: BEW became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: BEW has become profitable over the past 5 years, growing earnings by 26.2% per year.

Accelerating Growth: BEW has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: BEW has become profitable in the last year, making it difficult to compare its past year earnings growth to the Software industry (27.8%).

Return on Equity

High ROE: BEW's Return on Equity (10.3%) is considered low.

Discover strong past performing companies

Financial Health

How is BeWhere Holdings's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: BEW's short term assets (CA$5.8M) exceed its short term liabilities (CA$1.7M).

Long Term Liabilities: BEW's short term assets (CA$5.8M) exceed its long term liabilities (CA$508.2K).

Debt to Equity History and Analysis

Debt Level: BEW has more cash than its total debt.

Reducing Debt: Insufficient data to determine if BEW's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: BEW's debt is well covered by operating cash flow (1222.8%).

Interest Coverage: BEW's interest payments on its debt are well covered by EBIT (27.7x coverage).

Balance Sheet

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Dividend

What is BeWhere Holdings's 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

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

High Dividend: Unable to evaluate BEW'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 BEW's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if BEW'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 BEW has not reported any payouts.

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Management

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

6.5yrs

Average management tenure

CEO

Owen Moore (53 yo)

6.58yrs

Tenure

CA$220,000

Compensation

Mr. Owen Moore, B.Sc., M.Sc. has been Chief Executive Officer and Director at BeWhere Holdings Inc. since February 04, 2016 and also serves as its President. He serves as the Chairman of the Board at BeWhe...

CEO Compensation Analysis

Compensation vs Market: Owen's total compensation ($USD162.18K) is about average for companies of similar size in the Canadian market ($USD179.12K).

Compensation vs Earnings: Owen's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: BEW's management team is seasoned and experienced (6.5 years average tenure).

Board Members

Experienced Board: BEW's board of directors are considered experienced (6.5 years average tenure).

Ownership

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

Insider Trading Volume

Insider Buying: BEW insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

TSXV:BEW Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
29 Jun 22	BuyCA$49,317	Edward Kulperger	Individual	206,000	CA$0.24
27 Jun 22	BuyCA$9,900	Christopher Panczuk	Individual	45,000	CA$0.22
13 Jun 22	BuyCA$4,500	Owen Moore	Individual	20,000	CA$0.22
26 May 22	BuyCA$4,900	Owen Moore	Individual	20,000	CA$0.25
30 Dec 21	BuyCA$5,200	Owen Moore	Individual	20,000	CA$0.26
09 Dec 21	BuyCA$3,952	Christopher Panczuk	Individual	15,500	CA$0.25
30 Nov 21	BuyCA$8,548	Owen Moore	Individual	32,000	CA$0.27
26 Nov 21	BuyCA$8,100	Owen Moore	Individual	30,000	CA$0.27
19 Nov 21	BuyCA$7,840	Christopher Panczuk	Individual	28,000	CA$0.28
17 Nov 21	BuyCA$25,650	Nauby Jacob	Individual	90,000	CA$0.29

Ownership Breakdown

What is the ownership structure of BEW?
Owner Type	Number of Shares	Ownership Percentage
Individual Insiders	19,802,435	22.5%
General Public	68,259,053	77.5%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 6 shareholders own 22.49% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
10.18%	Owen Moore	8,962,843	CA$2.0m	0.45%	no data
10%	Christopher Panczuk	8,804,143	CA$1.9m	0%	no data
1.05%	Edward Kulperger	928,549	CA$204.3k	28.51%	no data
0.64%	Joanne De Laurentiis	567,000	CA$124.7k	0%	no data
0.33%	Paul Christie	294,900	CA$64.9k	0%	no data
0.28%	Nauby Jacob	245,000	CA$53.9k	0%	no data

Ticker	Exchange	Primary Security	Security Type	Country	Currency	Listed on
BEW	TSXV (TSX Venture Exchange)	Yes	Common Shares	CA	CAD	Jan 2006
BEWF.F	OTCPK (Pink Sheets LLC)	Yes	Common Shares	US	USD	Jan 2006
S9XC	DB (Deutsche Boerse AG)	Yes	Common Shares	DE	EUR	Jan 2006

Data	Last Updated (UTC time)
Company Analysis	2022/09/25 00:00
End of Day Share Price	2022/09/23 00:00
Earnings	2022/06/30
Annual Earnings	2021/12/31