Executive Summary
OneSpan Inc., together with its subsidiaries, designs, develops, and markets digital solutions for identity, security, and business productivity worldwide.
Rewards
Risk Analysis
No risks detected for VDY from our risk checks.
Snowflake Analysis
Flawless balance sheet with reasonable growth potential.
Similar Companies
Share Price & News
How has OneSpan's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: VDY has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-4.0%
VDY
2.8%
DE Software
0.5%
DE Market
1 Year Return
41.9%
VDY
39.0%
DE Software
15.5%
DE Market
Return vs Industry: VDY exceeded the German Software industry which returned 39.3% over the past year.
Return vs Market: VDY exceeded the German Market which returned 17.1% over the past year.
Shareholder returns
| VDY | Industry | Market | |
|---|---|---|---|
| 7 Day | -4.0% | 2.8% | 0.5% |
| 30 Day | 4.9% | 5.2% | 1.4% |
| 90 Day | 21.4% | 8.1% | 5.3% |
| 1 Year | 41.9%41.9% | 40.8%39.0% | 19.2%15.5% |
| 3 Year | 20.4%20.4% | 60.9%54.5% | 15.7%5.5% |
| 5 Year | -11.1%-11.1% | 146.6%129.0% | 27.3%10.1% |
Price Volatility Vs. Market
How volatile is OneSpan's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Valuation
Is OneSpan undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: VDY (€16.8) is trading below our estimate of fair value (€59.83)
Significantly Below Fair Value: VDY is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: VDY is poor value based on its PE Ratio (98x) compared to the Software industry average (41.3x).
PE vs Market: VDY is poor value based on its PE Ratio (98x) compared to the German market (20.6x).
Price to Earnings Growth Ratio
PEG Ratio: VDY is poor value based on its PEG Ratio (2x)
Price to Book Ratio
PB vs Industry: VDY is good value based on its PB Ratio (3.2x) compared to the DE Software industry average (3.2x).
Next Steps
Future Growth
How is OneSpan forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
47.9%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: VDY's forecast earnings growth (47.9% per year) is above the savings rate (-0.4%).
Earnings vs Market: VDY's earnings (47.9% per year) are forecast to grow faster than the German market (13.2% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: VDY's revenue (7.7% per year) is forecast to grow faster than the German market (4.8% per year).
High Growth Revenue: VDY's revenue (7.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: VDY's Return on Equity is forecast to be low in 3 years time (7%).
Next Steps
Past Performance
How has OneSpan performed over the past 5 years?
-56.6%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: VDY has high quality earnings.
Growing Profit Margin: VDY became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: VDY's earnings have declined by -56.6% per year over the past 5 years.
Accelerating Growth: VDY has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: VDY has become profitable in the last year, making it difficult to compare its past year earnings growth to the Software industry (14.6%).
Return on Equity
High ROE: VDY's Return on Equity (3%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is OneSpan's financial position?
Financial Position Analysis
Short Term Liabilities: VDY's short term assets ($197.9M) exceed its short term liabilities ($71.4M).
Long Term Liabilities: VDY's short term assets ($197.9M) exceed its long term liabilities ($39.8M).
Debt to Equity History and Analysis
Debt Level: VDY is debt free.
Reducing Debt: VDY has not had any debt for past 5 years.
Debt Coverage: VDY has no debt, therefore it does not need to be covered by operating cash flow.
Interest Coverage: VDY has no debt, therefore coverage of interest payments is not a concern.
Balance Sheet
Inventory Level: VDY has a low level of unsold assets or inventory.
Debt Coverage by Assets: Insufficient data to determine if VDY's debt is covered by short term assets.
Next Steps
Dividend
What is OneSpan's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: Unable to evaluate VDY's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate VDY's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if VDY's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if VDY's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of VDY's dividend in 3 years as they are not forecast to pay a notable one for the German market.
Next Steps
Management
What is the CEO of OneSpan's salary, the management and board of directors tenure and is there insider trading?
3.0yrs
Average management tenure
CEO
Scott Clements (56yo)
2.5yrs
Tenure
US$2,427,711
Compensation
Mr. Scott M. Clements has been the President and Chief Executive Officer of OneSpan Inc. (Former Name: VASCO Data Security International Inc.)since November 15, 2016 and July 28, 2017 respectively. Mr. Cle ...
CEO Compensation Analysis
Compensation vs Market: Scott's total compensation ($USD2.43M) is above average for companies of similar size in the German market ($USD1.28M).
Compensation vs Earnings: Scott's compensation has been consistent with company performance over the past year.
Management Age and Tenure
3.0yrs
Average Tenure
57yo
Average Age
Experienced Management: VDY's management team is considered experienced (3 years average tenure).
Board Age and Tenure
7.1yrs
Average Tenure
60yo
Average Age
Experienced Board: VDY's board of directors are considered experienced (7.1 years average tenure).
Insider Trading
Insider Buying: VDY insiders have only sold shares in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Member of the Board of Directors Founder & Director |
| Shares | 219,973 |
| Max Price | €18.27 |
| Entity | Individual |
| Role | Member of the Board of Directors Founder & Director |
| Shares | 365,000 |
| Max Price | €17.22 |
| Entity | Individual |
| Role | Member of the Board of Directors Director |
| Shares | 10,000 |
| Max Price | €13.39 |
| Entity | Individual |
| Role | Member of the Board of Directors Founder & Director |
| Shares | 66,000 |
| Max Price | €12.44 |
| Entity | Individual |
| Role | Member of the Board of Directors Founder & Director |
| Shares | 34,000 |
| Max Price | €12.67 |
| Entity | Individual |
| Role | Chief Executive Officer CEO, President & Director |
| Shares | 3,550 |
| Max Price | €12.71 |
| Entity | Individual |
| Role | Chief Executive Officer CEO, President & Director |
| Shares | 6,840 |
| Max Price | €13.26 |
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Ken Hunt (75yo)
Founder & Director
- Tenure: 22.5yrs
- Compensation: US$450.00k
John Gunn (58yo)
Chief Marketing Officer
- Tenure: 3yrs
Mark Hoyt (51yo)
CFO, Executive VP & Treasurer
- Tenure: 4.3yrs
- Compensation: US$1.32m
Steve Worth
Chief Compliance Officer
- Tenure: 3yrs
Scott Clements (56yo)
CEO, President & Director
- Tenure: 2.5yrs
- Compensation: US$2.43m
Benoit Grange
Chief Technology Officer
- Tenure: 3yrs
Jeff Cole
Chief Information Officer
- Tenure: 2.8yrs
Joe Maxa
Director of Investor Relations
Dan Dica
Senior Vice President of Worldwide Sales
Giovanni Verhaeghe
Vice President of Corporate Development & Hardware Operations
- Tenure: 2yrs
Board Members
Jean Holley (60yo)
Independent Director
- Tenure: 13.4yrs
- Compensation: US$174.50k
Matt Moog (49yo)
Independent Director
- Tenure: 7.1yrs
- Compensation: US$170.00k
Ken Hunt (75yo)
Founder & Director
- Tenure: 22.5yrs
- Compensation: US$450.00k
Michael Cullinane (69yo)
Independent Director
- Tenure: 21.8yrs
- Compensation: US$178.50k
Marc Boroditsky
Director
- Tenure: 0.6yrs
John Fox (76yo)
Independent Chairman of the Board
- Compensation: US$177.00k
Scott Clements (56yo)
CEO, President & Director
- Tenure: 2.5yrs
- Compensation: US$2.43m
Marc Zenner (56yo)
Director
- Tenure: 0.6yrs
Company Information
OneSpan Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: OneSpan Inc.
- Ticker: VDY
- Exchange: DB
- Founded: 1991
- Industry: Systems Software
- Sector: Software
- Market Cap: US$758.048m
- Listing Market Cap: US$683.684m
- Shares outstanding: 39.96m
- Website: https://www.onespan.com
Number of Employees
Location
- OneSpan Inc.
- 121 West Wacker Drive
- Suite 2050
- Chicago
- Illinois
- 60601
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| OSPN | NasdaqCM (Nasdaq Capital Market) | Yes | Common Stock | US | USD | Mar 1998 |
| VDY | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Mar 1998 |
| 0YNU | LSE (London Stock Exchange) | Yes | Common Stock | GB | USD | Mar 1998 |
Biography
OneSpan Inc., together with its subsidiaries, designs, develops, and markets digital solutions for identity, security, and business productivity worldwide. The company offers DIGIPASS hardware authenticators that supports authentication and digital signatures for applications running on desktop PCs, laptops, tablets, and smart phones; Mobile Security Suite, a software development kit; Mobile Authenticator Studio, a mobile authenticator that operates as a discrete mobile application; and authentication server that enables customers to administer a high level of access control. It also provides OneSpan Sign, which supports a range of eSignature requirements from simple to complex; Trusted Identity Platform, an open architected, cloud-based platform; Intelligent Adaptive Authentication, a cloud-based solution that enables banks and other financial institutions to secure users, devices, and transactions; and Risk Analytics, a comprehensive anti-fraud solution; and Verification Hub, a cloud-based digital identity verification solution that provides access to multiple third-party verification services. The company sells its solutions through its direct sales force, as well as through distributors, resellers, systems integrators, and original equipment manufacturers. The company was formerly known as VASCO Data Security International, Inc. and changed its name to OneSpan Inc. in May 2018. OneSpan Inc. was founded in 1991 and is headquartered in Chicago, Illinois.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/01/22 20:56 |
| End of Day Share Price | 2020/01/22 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.