Market Cap
€1.5b
Last Updated
2020/02/16 19:53 UTC
Data Sources
Company Financials +
Executive Summary
Intertrust N.V. provides corporate, fund, capital market, and private wealth services in Western Europe, the Americas, and internationally.
Rewards
Risk Analysis
Snowflake Analysis
Undervalued second-rate dividend payer.
Share Price & News
How has Intertrust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: INTERA has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-3.4%
INTERA
0.3%
GB Professional Services
-0.2%
GB Market
1 Year Return
3.2%
INTERA
24.5%
GB Professional Services
6.1%
GB Market
Return vs Industry: INTERA underperformed the UK Professional Services industry which returned 24.5% over the past year.
Return vs Market: INTERA underperformed the UK Market which returned 6.1% over the past year.
Shareholder returns
| INTERA | Industry | Market | |
|---|---|---|---|
| 7 Day | -3.4% | 0.3% | -0.2% |
| 30 Day | -1.2% | 4.0% | -1.8% |
| 90 Day | 0.8% | 12.6% | 4.0% |
| 1 Year | 7.1%3.2% | 27.4%24.5% | 11.8%6.1% |
| 3 Year | 6.3%-5.2% | 57.9%47.3% | 17.5%2.6% |
| 5 Year | n/a | 110.5%85.8% | 34.8%3.7% |
Price Volatility Vs. Market
How volatile is Intertrust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Valuation
Is Intertrust 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: INTERA (€16.91) is trading below our estimate of fair value (€34.43)
Significantly Below Fair Value: INTERA is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: INTERA is good value based on its PE Ratio (16.8x) compared to the Professional Services industry average (21.3x).
PE vs Market: INTERA is good value based on its PE Ratio (16.8x) compared to the UK market (18.5x).
Price to Earnings Growth Ratio
PEG Ratio: INTERA is poor value based on its PEG Ratio (1.7x)
Price to Book Ratio
PB vs Industry: INTERA is good value based on its PB Ratio (2x) compared to the GB Professional Services industry average (3x).
Next Steps
Future Growth
How is Intertrust forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
10.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: INTERA's forecast earnings growth (10% per year) is above the savings rate (0.5%).
Earnings vs Market: INTERA's earnings (10% per year) are forecast to grow slower than the UK market (12.2% per year).
High Growth Earnings: INTERA's earnings are forecast to grow, but not significantly.
Revenue vs Market: INTERA's revenue (6.3% per year) is forecast to grow faster than the UK market (3.4% per year).
High Growth Revenue: INTERA's revenue (6.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: INTERA's Return on Equity is forecast to be low in 3 years time (18.5%).
Next Steps
Past Performance
How has Intertrust performed over the past 5 years?
40.6%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: INTERA has high quality earnings.
Growing Profit Margin: INTERA's current net profit margins (16.6%) are lower than last year (18%).
Past Earnings Growth Analysis
Earnings Trend: INTERA's earnings have grown significantly by 40.6% per year over the past 5 years.
Accelerating Growth: INTERA's earnings growth over the past year (1.1%) is below its 5-year average (40.6% per year).
Earnings vs Industry: INTERA earnings growth over the past year (1.1%) underperformed the Professional Services industry 16%.
Return on Equity
High ROE: INTERA's Return on Equity (11.7%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Intertrust's financial position?
Financial Position Analysis
Short Term Liabilities: INTERA's short term assets (€301.5M) do not cover its short term liabilities (€318.1M).
Long Term Liabilities: INTERA's short term assets (€301.5M) do not cover its long term liabilities (€1.1B).
Debt to Equity History and Analysis
Debt Level: INTERA's debt to equity ratio (130%) is considered high.
Reducing Debt: INTERA had negative shareholder equity 5 years ago, but is now positive and has therefore improved.
Debt Coverage: INTERA's debt is not well covered by operating cash flow (18.5%).
Interest Coverage: INTERA's interest payments on its debt are well covered by EBIT (7.4x coverage).
Balance Sheet
Inventory Level: INTERA has a low level of unsold assets or inventory.
Debt Coverage by Assets: INTERA's debt is not covered by short term assets (assets are 0.3x debt).
Next Steps
Dividend
What is Intertrust's current dividend yield, its reliability and sustainability?
3.72%
Current Dividend Yield
Upcoming Dividend Payment
Purchase Intertrust before the 'Buy Limit' to receive their next dividend payment.
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: INTERA's dividend (3.72%) is higher than the bottom 25% of dividend payers in the UK market (1.83%).
High Dividend: INTERA's dividend (3.72%) is low compared to the top 25% of dividend payers in the UK market (5.1%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, INTERA has been paying a dividend for less than 10 years.
Growing Dividend: INTERA's dividend payments have increased, but the company has only paid a dividend for 3 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (62.6%), INTERA's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: INTERA's dividends in 3 years are forecast to be well covered by earnings (39.9% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
1.7yrs
Average management tenure
CEO
Stephanie Miller (51yo)
2.1yrs
Tenure
€1,208,248
Compensation
Ms. Stephanie D. Miller has been Chief Executive Officer at Intertrust N.V. since January 22, 2018 and has been its Member of the Management Board since February 7, 2018. Ms. Miller serves as a Senior Vice ...
CEO Compensation Analysis
Compensation vs Market: Stephanie's total compensation ($USD1.31M) is about average for companies of similar size in the UK market ($USD1.82M).
Compensation vs Earnings: Insufficient data to compare Stephanie's compensation with company performance.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Member of the Management Board | 2.1yrs | €1.21m | 0.11% €1.7m | |
| Executive Officer | 0.4yrs | €469.29k | no data | |
| CFO & Member of Management Board | 0.4yrs | no data | 0.012% €177.6k | |
| Chief Operating Officer | 1.7yrs | no data | no data | |
| Director of Investor Relations | 0yrs | no data | no data | |
| Chief Human Resources Officer | 1.7yrs | no data | no data | |
| Global Head of Capital Markets | 2.7yrs | no data | no data | |
| Global Head of Corporate Client Services | 0yrs | no data | no data | |
| Global Head of Fund Services | 0yrs | no data | no data | |
| Global Head of Private Wealth | 0yrs | no data | no data |
1.7yrs
Average Tenure
49.5yo
Average Age
Experienced Management: INTERA's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Member of the Supervisory Board | 0.8yrs | no data | no data | |
| Member of Supervisory Board | 4.5yrs | no data | no data | |
| Member of Supervisory Board | 2.3yrs | no data | no data | |
| Member of Supervisory Board | 2.3yrs | no data | no data | |
| Chairperson of Supervisory Board | 5.1yrs | no data | no data | |
| Member of Supervisory Board | 2.8yrs | no data | no data |
2.5yrs
Average Tenure
54.5yo
Average Age
Experienced Board: INTERA's board of directors are not considered experienced ( 2.5 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.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Intertrust N.V.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Intertrust N.V.
- Ticker: INTERA
- Exchange: BATS-CHIXE
- Founded: 1952
- Industry: Research and Consulting Services
- Sector: Commercial Services
- Market Cap: €1.524b
- Shares outstanding: 90.05m
- Website: https://www.intertrustgroup.com
Number of Employees
Location
- Intertrust N.V.
- Prins Bernhardplein 200
- PO Box 990
- Amsterdam
- Noord-Holland
- 1000 AZ
- Netherlands
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| INTER | ENXTAM (Euronext Amsterdam) | Yes | Ordinary Shares | NL | EUR | Oct 2015 |
| 4IT | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Oct 2015 |
| INTERA | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | EUR | Oct 2015 |
| 0RCL | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | EUR | Oct 2015 |
| ITRU.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Oct 2015 |
Biography
Intertrust N.V. provides corporate, fund, capital market, and private wealth services in Western Europe, the Americas, and internationally. The company offers formation and implementation; domiciliation, management, and trustee; legal and tax compliance; regulatory and compliance; accounting and reporting services; and liquidation services. It also provides corporate secretarial, escrow, performance and reward management, process agent, and treasury management services to corporates service line clients, including multinational corporations and financial institutions in various industries and regions. In addition, the company offers incorporation, administration, investor reporting, and regulatory reporting services for funds, including various forms of hedge funds primarily real estate and private equity funds; and depositary, ManCo, outsourced fiduciary, and private equity and real estate fund administration services. Further, it provides agency, corporate administration, investor reporting, listing, portfolio administration, and process agency services for capital markets clients primarily financial institutions; and business succession, family governance, philanthropy and charitable trust, real estate, and treasury and investment services to private wealth clients, such as Forbes 500 entrepreneurs, international entrepreneurial families, and family offices. The company was founded in 1952 and is based in Amsterdam, the Netherlands.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/16 19:53 |
| End of Day Share Price | 2020/02/14 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.