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Axway Software

ENXTPA:AXW
Snowflake Description

Excellent balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AXW
ENXTPA
€282M
Market Cap
  1. Home
  2. FR
  3. Software
Company description

Axway Software SA publishes enterprise software for governing the flows of data that facilitates interactions of commercial enterprises or governments worldwide. The last earnings update was 54 days ago. More info.


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AXW Share Price and Events
7 Day Returns
1.9%
ENXTPA:AXW
0.7%
FR Software
2%
FR Market
1 Year Returns
-33.6%
ENXTPA:AXW
18.6%
FR Software
3.4%
FR Market
AXW Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Axway Software (AXW) 1.9% 12.2% 11.3% -33.6% -31.6% -42.7%
FR Software 0.7% 1.6% 22.9% 18.6% 82.2% 166.7%
FR Market 2% 2.6% 15.1% 3.4% 28% 31.4%
1 Year Return vs Industry and Market
  • AXW underperformed the Software industry which returned 18.6% over the past year.
  • AXW underperformed the Market in France which returned 3.4% over the past year.
Price Volatility
AXW
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Axway Software undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Axway Software to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Axway Software.

ENXTPA:AXW Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.8%
Perpetual Growth Rate 10-Year FR Government Bond Rate 0.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ENXTPA:AXW
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FR Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6%
Software Unlevered Beta Simply Wall St/ S&P Global 1.14
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.135 (1 + (1- 21%) (16.32%))
1.189
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.19
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.73% + (1.189 * 5.96%)
7.82%

Discounted Cash Flow Calculation for ENXTPA:AXW using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Axway Software is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ENXTPA:AXW DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 7.82%)
2019 14.50 Analyst x2 13.45
2020 18.00 Analyst x2 15.48
2021 24.18 Analyst x1 19.29
2022 26.65 Est @ 10.21% 19.72
2023 28.61 Est @ 7.37% 19.64
2024 30.15 Est @ 5.38% 19.19
2025 31.35 Est @ 3.98% 18.51
2026 32.30 Est @ 3.01% 17.69
2027 33.05 Est @ 2.33% 16.79
2028 33.66 Est @ 1.85% 15.86
Present value of next 10 years cash flows €175.62
ENXTPA:AXW DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €33.66 × (1 + 0.73%) ÷ (7.82% – 0.73%)
€478.62
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €478.62 ÷ (1 + 7.82%)10
€225.49
ENXTPA:AXW Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €175.62 + €225.49
€401.11
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €401.11 / 21.12
€19
ENXTPA:AXW Discount to Share Price
Calculation Result
Value per share (EUR) From above. €19.00
Current discount Discount to share price of €13.35
= -1 x (€13.35 - €19.00) / €19.00
29.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Axway Software is available for.
Intrinsic value
30%
Share price is €13.35 vs Future cash flow value of €19
Current Discount Checks
For Axway Software to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Axway Software's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Axway Software's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Axway Software's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Axway Software's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:AXW PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.52
ENXTPA:AXW Share Price ** ENXTPA (2019-04-17) in EUR €13.35
France Software Industry PE Ratio Median Figure of 23 Publicly-Listed Software Companies 25.48x
France Market PE Ratio Median Figure of 419 Publicly-Listed Companies 16.31x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Axway Software.

ENXTPA:AXW PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:AXW Share Price ÷ EPS (both in EUR)

= 13.35 ÷ 0.52

25.67x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Axway Software is overvalued based on earnings compared to the FR Software industry average.
  • Axway Software is overvalued based on earnings compared to the France market.
Price based on expected Growth
Does Axway Software's expected growth come at a high price?
Raw Data
ENXTPA:AXW PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 25.67x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
4.5%per year
France Software Industry PEG Ratio Median Figure of 15 Publicly-Listed Software Companies 2.57x
France Market PEG Ratio Median Figure of 272 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

ENXTPA:AXW PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 25.67x ÷ 4.5%

5.76x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Axway Software is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Axway Software's assets?
Raw Data
ENXTPA:AXW PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €17.22
ENXTPA:AXW Share Price * ENXTPA (2019-04-17) in EUR €13.35
France Software Industry PB Ratio Median Figure of 32 Publicly-Listed Software Companies 1.99x
France Market PB Ratio Median Figure of 618 Publicly-Listed Companies 1.48x
ENXTPA:AXW PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:AXW Share Price ÷ Book Value per Share (both in EUR)

= 13.35 ÷ 17.22

0.78x

* Primary Listing of Axway Software.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Axway Software is good value based on assets compared to the FR Software industry average.
X
Value checks
We assess Axway Software's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Software industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Software industry average (and greater than 0)? (1 check)
  5. Axway Software has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Axway Software expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Axway Software expected to grow at an attractive rate?
  • Axway Software's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Axway Software's earnings growth is positive but not above the France market average.
  • Axway Software's revenue growth is positive but not above the France market average.
Annual Growth Rates Comparison
Raw Data
ENXTPA:AXW Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTPA:AXW Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 4.5%
ENXTPA:AXW Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 0.1%
France Software Industry Earnings Growth Rate Market Cap Weighted Average 16.2%
France Software Industry Revenue Growth Rate Market Cap Weighted Average 9.1%
France Market Earnings Growth Rate Market Cap Weighted Average 13.4%
France Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ENXTPA:AXW Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTPA:AXW Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 284 12 1
2020-12-31 285 24 10 3
2019-12-31 283 22 8 3
ENXTPA:AXW Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 284 23 11
2018-09-30 288 28 8
2018-06-30 292 33 6
2018-03-31 296 31 5
2017-12-31 300 30 4
2017-09-30 300 34 14
2017-06-30 299 38 23
2017-03-31 300 38 27
2016-12-31 301 38 31
2016-09-30 298 37 34
2016-06-30 294 35 37
2016-03-31 289 43 32

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Axway Software's earnings are expected to grow by 4.5% yearly, however this is not considered high growth (20% yearly).
  • Axway Software's revenue is expected to grow by 0.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ENXTPA:AXW Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Axway Software Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:AXW Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 0.58 0.78 0.46 3.00
2019-12-31 0.40 0.43 0.37 3.00
ENXTPA:AXW Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.52
2018-09-30 0.39
2018-06-30 0.27
2018-03-31 0.24
2017-12-31 0.21
2017-09-30 0.65
2017-06-30 1.10
2017-03-31 1.31
2016-12-31 1.51
2016-09-30 1.64
2016-06-30 1.76
2016-03-31 1.56

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Axway Software is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Axway Software's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the France market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the France market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Axway Software has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Axway Software performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Axway Software's growth in the last year to its industry (Software).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Axway Software's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Axway Software's 1-year earnings growth exceeds its 5-year average (149.6% vs -22.2%)
  • Axway Software's earnings growth has exceeded the FR Software industry average in the past year (149.6% vs 17.4%).
Earnings and Revenue History
Axway Software's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Axway Software Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:AXW Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 283.83 10.99 1.13
2018-09-30 287.91 8.31 8.47
2018-06-30 292.00 5.63 15.81
2018-03-31 295.92 5.02 15.86
2017-12-31 299.85 4.40 15.91
2017-09-30 299.51 13.74 15.49
2017-06-30 299.17 23.07 15.07
2017-03-31 300.13 27.27 14.90
2016-12-31 301.08 31.48 14.74
2016-09-30 297.65 34.03 14.14
2016-06-30 294.23 36.58 13.55
2016-03-31 289.42 32.22 13.60
2015-12-31 284.61 27.86 13.65
2015-09-30 283.20 26.95 13.02
2015-06-30 281.79 26.05 13.09
2015-03-31 271.69 26.27 13.15
2014-12-31 261.59 26.49 12.87
2014-09-30 253.82 27.51 13.37
2014-06-30 246.05 28.54 13.52
2014-03-31 241.80 32.07 13.62
2013-12-31 237.55 35.60 13.73
2013-09-30 234.93 33.73 0.58
2013-06-30 232.32 31.87 -12.57
2013-03-31 228.32 28.27 0.02
2012-12-31 224.32 24.66 12.61
2012-09-30 219.96 22.89 15.79
2012-06-30 215.60 21.13 18.96

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Axway Software has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Axway Software used its assets less efficiently than the FR Software industry average last year based on Return on Assets.
  • Axway Software's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Axway Software's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Software industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Axway Software has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Axway Software's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Axway Software's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Axway Software's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Axway Software's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Axway Software's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Axway Software Company Filings, last reported 3 months ago.

ENXTPA:AXW Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 362.75 46.01 35.78
2018-09-30 362.75 46.01 35.78
2018-06-30 353.91 50.95 47.56
2018-03-31 353.91 50.95 47.56
2017-12-31 344.13 52.24 28.15
2017-09-30 344.13 52.24 28.15
2017-06-30 352.51 59.42 27.09
2017-03-31 352.51 59.42 27.09
2016-12-31 374.82 39.14 51.72
2016-09-30 374.82 39.14 51.72
2016-06-30 338.39 34.87 41.72
2016-03-31 338.39 34.87 41.72
2015-12-31 340.62 8.98 44.66
2015-09-30 340.62 8.98 44.66
2015-06-30 307.55 10.17 41.69
2015-03-31 307.55 10.17 41.69
2014-12-31 298.51 47.70 44.57
2014-09-30 298.51 47.70 44.57
2014-06-30 255.30 64.14 41.31
2014-03-31 255.30 64.14 41.31
2013-12-31 258.37 37.99 49.18
2013-09-30 258.37 37.99 49.18
2013-06-30 238.72 42.60 54.08
2013-03-31 238.72 42.60 54.08
2012-12-31 233.95 42.13 35.38
2012-09-30 233.95 42.13 35.38
2012-06-30 217.85 2.63 40.90
  • Axway Software's level of debt (12.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (14.8% vs 12.7% today).
  • Debt is well covered by operating cash flow (49.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 30.6x coverage).
X
Financial health checks
We assess Axway Software's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Axway Software has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Axway Software's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.5%
Current annual income from Axway Software dividends. Estimated to be 3% next year.
If you bought €2,000 of Axway Software shares you are expected to receive €30 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Axway Software's pays a lower dividend yield than the bottom 25% of dividend payers in France (1.54%).
  • Axway Software's dividend is below the markets top 25% of dividend payers in France (4.4%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ENXTPA:AXW Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
France Software Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 0.6%
France Market Average Dividend Yield Market Cap Weighted Average of 322 Stocks 3%
France Minimum Threshold Dividend Yield 10th Percentile 0.9%
France Bottom 25% Dividend Yield 25th Percentile 1.5%
France Top 25% Dividend Yield 75th Percentile 4.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ENXTPA:AXW Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.40 1.00
2020-12-31 0.40 2.00
2019-12-31 0.40 2.00
ENXTPA:AXW Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-04-26 0.200 1.332
2018-02-20 0.200 1.046
2018-02-14 0.200 0.960
2017-05-15 0.400 1.650
2017-02-22 0.400 1.252
2016-04-26 0.400 1.596
2016-02-24 0.400 2.033
2015-04-24 0.400 1.797
2015-02-25 0.400 2.121
2014-04-24 0.400 2.081
2014-02-18 0.400 1.709
2013-04-24 0.350 1.764
2013-02-19 0.350 2.247
2012-08-01 0.250 1.930
2012-04-27 0.250 1.699
2012-02-15 0.250 1.391
2011-08-31 0.498 3.195
2011-06-14 0.498 2.679

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Axway Software has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Axway Software has only been paying a dividend for 8 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Axway Software's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.2x coverage).
X
Income/ dividend checks
We assess Axway Software's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Axway Software afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Axway Software has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Axway Software's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Patrick Donovan
AGE 48
TENURE AS CEO 1 years
CEO Bio

Mr. Patrick Donovan has been Chief Executive Officer of Axway Software SA since April 6, 2018. Mr. Donovan served as the Chief Financial Officer of Axway Inc. and its holding company Axway Software S.A. He serves as a Vice President of Finance of iCrossing, Inc. He has over 12 years of experience in finance and accounting management. Prior to joining Axway in 2007, he has served several positions as a finance executive at different International Technology firms, leading all aspects of finance, accounting, legal as well as merger and acquisition activities. He started his career in public accounting as public company auditor for a large international public accounting firm. He joined iCrossing, Inc. in 2006 and manages its finance and accounting activities, which include financial reporting, audit and compliance activities. Before joining iCrossing, Mr. Donovan served in various finance and accounting management roles at public high-tech, transportation and service companies and worked for Arthur Andersen in the Audit division. He is Certified Public Accountant. Mr. Donovan has a M.B.A. in Finance from the University of Colorado and a B.S. in Accountancy from Arizona State University.

CEO Compensation
  • Insufficient data for Patrick to compare compensation growth.
  • Insufficient data for Patrick to establish whether their remuneration is reasonable compared to companies of similar size in France.
Management Team Tenure

Average tenure of the Axway Software management team in years:

1
Average Tenure
  • The average tenure for the Axway Software management team is less than 2 years, this suggests a new team.
Management Team

Patrick Donovan

TITLE
Group Chief Executive Officer
AGE
48
TENURE
1 yrs

Vince Padua

TITLE
Chief Technology & Innovation Officer
TENURE
1 yrs

Arthur Carli

TITLE
Investor Relations Manager

Scott Hausman

TITLE
Executive Vice President of Strategy & Corporate Development
AGE
54

Mike Nason

TITLE
Executive Vice President of Global Distribution & Sales

Morgan Exare

TITLE
Head of Corporate Services

Roland Royer

TITLE
Chief Customer Officer

Pat Ryan

TITLE
Senior Vice President of North America Sales
TENURE
4.9 yrs

Joël Depernet

TITLE
Executive Vice President of Research & Development

Marcelo Ramos

TITLE
Senior VP
Board of Directors Tenure

Average tenure and age of the Axway Software board of directors in years:

6.8
Average Tenure
59.5
Average Age
  • The tenure for the Axway Software board of directors is about average.
Board of Directors

Pierre Pasquier

TITLE
Chairman of the Board
COMPENSATION
€158K
AGE
83

Kathleen Clark Bracco

TITLE
Vice Chairman of the Board
COMPENSATION
€27K
AGE
50
TENURE
5.5 yrs

Pascal Imbert

TITLE
Independent Director
COMPENSATION
€30K
AGE
60
TENURE
8 yrs

Hervé Saint-Sauveur

TITLE
Independent Director
AGE
73
TENURE
8 yrs

Hervé Déchelette

TITLE
Independent Director
COMPENSATION
€37K
AGE
73
TENURE
8 yrs

Michael Gollner

TITLE
Independent Director
COMPENSATION
€30K
AGE
59
TENURE
6.9 yrs

Yves de Talhouët

TITLE
Independent Director
COMPENSATION
€19K
AGE
60
TENURE
6.8 yrs

Pierre-Yves Commanay

TITLE
Director
COMPENSATION
€22K
AGE
53
TENURE
4.8 yrs

Yann Metz-Pasquier

TITLE
Director
COMPENSATION
€12K
AGE
30
TENURE
0.8 yrs

Véronique de La Bachelerie

TITLE
Director
COMPENSATION
€27K
AGE
59
TENURE
4.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Axway Software's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Axway Software has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Should Axway Software SA’s (EPA:AXW) Weak Investment Returns Worry You?

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

You Might Like Axway Software SA (EPA:AXW) But Do You Like Its Debt?

Investors are always looking for growth in small-cap stocks like Axway Software SA (EPA:AXW), with a market cap of €257m. … However, an important fact which most ignore is: how financially healthy is the business? … The following basic checks can help you get a picture of the company's balance sheet strength.

Simply Wall St -

Did You Manage To Avoid Axway Software's (EPA:AXW) 49% Share Price Drop?

At this point some shareholders may be questioning their investment in Axway Software SA (EPA:AXW), since the last five years saw the share price fall 49%. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … Looking back five years, both Axway Software's share price and EPS declined; the latter at a rate of 22% per year.

Simply Wall St -

These Factors Make Axway Software SA (EPA:AXW) An Interesting Investment

Today I've chosen to put the spotlight on Axway Software SA (EPA:AXW) due to its excellent fundamentals in more than one area. … is a company that has been able to sustain great financial health, trading at an attractive share price. … report on Axway Software here

Simply Wall St -

What Are Analysts Saying About Axway Software SA's (EPA:AXW) Growth?

The most recent earnings update Axway Software SA's (EPA:AXW) released in December 2018a

Simply Wall St -

How Does Axway Software SA (EPA:AXW) Affect Your Portfolio Volatility?

If you own shares in Axway Software SA (EPA:AXW) then it's worth thinking about how it contributes to the volatility of your portfolio, overall. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … While we should keep in mind that Warren Buffett has cautioned that 'Volatility is far from synonymous with risk', beta is still a useful factor to consider.

Simply Wall St -

What Does Axway Software SA's (EPA:AXW) Share Price Indicate?

Axway Software SA (EPA:AXW), which is in the software business, and is based in United States,. … As a stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … Let’s examine Axway Software’s valuation and outlook in more detail to determine if there’s still a bargain opportunity.

Simply Wall St -

Do Institutions Own Axway Software SA (EPA:AXW) Shares?

A look at the shareholders of Axway Software SA (EPA:AXW) can tell us which group is most powerful. … Companies that used to be publicly owned tend to have lower insider ownership. … Taking a look at the our data on the ownership groups (below), it's seems that.

Simply Wall St -

An Intrinsic Calculation For Axway Software SA (EPA:AXW) Shows It's 36.67% Undervalued

by projecting its future cash flows and then discounting them to today's value. … discounted cash flows (DCF). … If you are reading this and its not January 2019 then I highly recommend you check out the latest calculation for Axway Software by following the link below

Simply Wall St -

Axway Software SA (EPA:AXW): Time For A Financial Health Check

While small-cap stocks, such as Axway Software SA (EPA:AXW) with its market cap of €255m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Software companies,.

Simply Wall St -

Company Info

Description

Axway Software SA publishes enterprise software for governing the flows of data that facilitates interactions of commercial enterprises or governments worldwide. It offers Axway Accounting Integration Suite to automate and optimize the transaction collection and posting process; Axway API Management Plus that combines the API lifecycle management, secure integration, monitoring, and analytics; and Axway Automator to automate the IT and business processing. The company also provides Axway B2Bi, a business-to business (B2B) gateway solution; Axway Central Governance to secure, manage, monitor, and measure end-to-end data flows; Axway Cloud B2B Managed Services; Axway Controlled Substance Ordering System; and Axway Decision Insight, an operational intelligence solution. In addition, it offers Axway DropZone to secure and control collaborative file sharing; Axway EndPoint solutions; Axway eSubmissions; Axway Integrator; Axway Interchange to create and manage B2B communities; and Axway Interplay for secure, controlled, and auditable event recycling and data entry. Further, the company provides Axway MailGate SC to protect email network and enable secure collaborations; Axway OmniVision to address IT management issues; Axway OmniVision Investigation to diagnose and investigate performance issues; Axway ProcessManager; and Axway Secure Client. Additionally, it offers Axway SecureTransport; Axway Sentinel; Axway Track & Trace; Axway Transfer CFT; Axway TradeSync Integration Manager; Axway Validation Authority Suite; Axway WideVision Service Health Check; and Axway WideVision Alert. The company serves automotive, business and professional services, financial services, telecommunications, public sector, life sciences, transportation and logistics, healthcare, life sciences, energy and utilities, manufacturing and CPG, and retail industries, as well as the United States federal government. The company was founded in 2001 and is headquartered in Phoenix, Arizona.

Details
Name: Axway Software SA
AXW
Exchange: ENXTPA
Founded: 2001
€281,893,687
21,115,632
Website: http://www.axway.com
Address: Axway Software SA
6811 East Mayo Boulevard,
Suite 400,
Phoenix,
Arizona, 85054,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA AXW Common Stock Euronext Paris FR EUR 14. Jun 2011
LSE 0P5L Common Stock London Stock Exchange GB EUR 14. Jun 2011
BATS-CHIXE AXWP Common Stock BATS 'Chi-X Europe' GB EUR 14. Jun 2011
Number of employees
Current staff
Staff numbers
1,780
Axway Software employees.
Industry
Application Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/17 22:35
End of day share price update: 2019/04/17 00:00
Last estimates confirmation: 2019/04/15
Last earnings filing: 2019/02/22
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.