Visiativ (DB:16V) - Share price, News & Analysis

16V fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	4/6
Past Performance	3/6
Financial Health	3/6
Dividends	0/6

16V Stock Overview

Visiativ SA engages in the consulting, software publishing and integration, cloud infrastructure, and rapid manufacturing businesses.

Rewards

Trading at 43.6% below our estimate of its fair value

Earnings are forecast to grow 31.67% per year

Earnings grew by 284.5% over the past year

Risk Analysis

Debt is not well covered by operating cash flow

Large one-off items impacting financial results

Shareholders have been diluted in the past year

Visiativ Competitors

Prodways Group

ENXTPA:PWG

€142.4m

Price History & Performance

Summary of all time highs, changes and price drops for Visiativ
Historical stock prices
Current Share Price	€33.40
52 Week High	€35.40
52 Week Low	€19.05
Beta	1.44
1 Month Change	22.34%
3 Month Change	17.19%
1 Year Change	73.51%
3 Year Change	29.46%
5 Year Change	41.59%
Change since IPO	219.62%

Shareholder Returns

	16V	DE IT	DE Market
7D	-1.2%	-0.5%	0.6%
1Y	73.5%	3.3%	-9.6%

Return vs Industry: 16V exceeded the German IT industry which returned 3% over the past year.

Return vs Market: 16V exceeded the German Market which returned -11.2% over the past year.

Price Volatility

Is 16V's price volatile compared to industry and market?
16V volatility
16V Average Weekly Movement	6.1%
IT Industry Average Movement	7.0%
Market Average Movement	6.5%
10% most volatile stocks in DE Market	10.6%
10% least volatile stocks in DE Market	3.4%

Stable Share Price: 16V is not significantly more volatile than the rest of German stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: 16V's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1987	1,057	Laurent Fiard	https://www.visiativ.com

Visiativ SA engages in the consulting, software publishing and integration, cloud infrastructure, and rapid manufacturing businesses. The company offers Moovapps platform, which provides vertical offers, such as myCADservices for consultancy firms, iPorta for intelligent buildings, and Aquarelle for nomad sales; outsourced IT solutions comprising maintenance, IT security, and user assistance, as well as value-added hosting solutions; consulting services; and support services for design and manufacture of prototypes, and the manufacture of small and medium high-quality series. It also provides high-speed digital transformation services, consisting of Fast Pass IT Consulting, an audit and customer support solution; 3D Continuity, a diagnosis to evaluate the digital continuity in business chain value; and CIR 360, an online diagnosis solution.

Visiativ Fundamentals Summary

How do Visiativ's earnings and revenue compare to its market cap?
16V fundamental statistics
Market Cap	€144.98m
Earnings (TTM)	€6.86m
Revenue (TTM)	€207.61m

21.1x

P/E Ratio

0.7x

P/S Ratio

Is 16V overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
16V income statement (TTM)
Revenue	€207.61m
Cost of Revenue	€186.66m
Gross Profit	€20.96m
Other Expenses	€14.09m
Earnings	€6.86m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	1.57
Gross Margin	10.09%
Net Profit Margin	3.31%
Debt/Equity Ratio	180.9%

How did 16V perform over the long term?

See historical performance and comparison

Valuation

Is Visiativ undervalued compared to its fair value and its price relative to the market?

43.6%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: 16V (€33.4) is trading below our estimate of fair value (€59.17)

Significantly Below Fair Value: 16V is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: 16V is good value based on its PE Ratio (21.1x) compared to the German IT industry average (28.6x).

PE vs Market: 16V is poor value based on its PE Ratio (21.1x) compared to the German market (18.9x).

Price to Earnings Growth Ratio

PEG Ratio: 16V is good value based on its PEG Ratio (0.7x)

Price to Book Ratio

PB vs Industry: 16V is good value based on its PB Ratio (2.7x) compared to the DE IT industry average (3.2x).

Future Growth

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

31.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 16V's forecast earnings growth (31.7% per year) is above the savings rate (-0.05%).

Earnings vs Market: 16V's earnings (31.7% per year) are forecast to grow faster than the German market (9.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 16V's revenue (5.6% per year) is forecast to grow faster than the German market (4.9% per year).

High Growth Revenue: 16V's revenue (5.6% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 16V's Return on Equity is forecast to be low in 3 years time (18.6%).

Past Performance

How has Visiativ performed over the past 5 years?

-3.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 16V has a large one-off loss of €4.5M impacting its June 30 2021 financial results.

Growing Profit Margin: 16V's current net profit margins (3.3%) are higher than last year (0.9%).

Past Earnings Growth Analysis

Earnings Trend: 16V's earnings have declined by 3.4% per year over the past 5 years.

Accelerating Growth: 16V's earnings growth over the past year (284.5%) exceeds its 5-year average (-3.4% per year).

Earnings vs Industry: 16V earnings growth over the past year (284.5%) exceeded the IT industry 23.9%.

Return on Equity

High ROE: 16V's Return on Equity (11.1%) is considered low.

Financial Health

How is Visiativ's financial position?

Financial Position Analysis

Short Term Liabilities: 16V's short term assets (€124.4M) exceed its short term liabilities (€80.6M).

Long Term Liabilities: 16V's short term assets (€124.4M) exceed its long term liabilities (€97.2M).

Debt to Equity History and Analysis

Debt Level: 16V's net debt to equity ratio (85.1%) is considered high.

Reducing Debt: 16V's debt to equity ratio has increased from 55.4% to 180.9% over the past 5 years.

Debt Coverage: 16V's debt is not well covered by operating cash flow (9.9%).

Interest Coverage: 16V's interest payments on its debt are well covered by EBIT (8.6x coverage).

Balance Sheet

Dividend

What is Visiativ current dividend yield, its reliability and sustainability?

1.84%

Forecast Dividend Yield

Dividend Yield vs Market

Notable Dividend: Unable to evaluate 16V's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 16V'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 16V's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 16V'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 16V has not reported any payouts.

Next Steps

Explore strong dividend paying companies in the Software industry.

Management

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

2.4yrs

Average management tenure

CEO

Laurent Fiard

no data

Tenure

€346,603

Compensation

Mr. Laurent Fiard serves as Co-Founder, CEO & Director at Visiativ SA since 2021. Mr. Fiard served as Director at Visiativ SA and served as its Chairman of the Board of Directors since April 18, 1997 until...

CEO Compensation Analysis

Compensation vs Market: Laurent's total compensation ($USD374.14K) is below average for companies of similar size in the German market ($USD587.98K).

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

Leadership Team

Experienced Management: 16V's management team is considered experienced (2.4 years average tenure).

Board Members

Experienced Board: 16V's board of directors are considered experienced (8.1 years average tenure).

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.

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 12%.

Data	Last Updated (UTC time)
Company Analysis	2022/04/19 00:00
End of Day Share Price	2022/04/14 00:00
Earnings	2021/06/30
Annual Earnings	2020/12/31