BATS-CHIXE:INTERA

Stock Analysis Report

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Executive Summary

Intertrust N.V. provides corporate, fund, capital market, and private wealth services in Western Europe, the Americas, and internationally. More Details


Snowflake Analysis

Adequate balance sheet and fair value.

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 is less volatile than 75% of UK stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: INTERA's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

-2.8%

INTERA

1.1%

GB Professional Services

-0.5%

GB Market


1 Year Return

-20.2%

INTERA

-6.9%

GB Professional Services

-8.2%

GB Market

Return vs Industry: INTERA underperformed the UK Professional Services industry which returned -6.9% over the past year.

Return vs Market: INTERA underperformed the UK Market which returned -8.2% over the past year.


Shareholder returns

INTERAIndustryMarket
7 Day-2.8%1.1%-0.5%
30 Day-2.7%0.1%2.9%
90 Day-2.4%4.1%15.2%
1 Year-20.2%-20.2%-5.1%-6.9%-4.5%-8.2%
3 Year-3.1%-10.4%31.0%22.6%3.7%-9.0%
5 Year-13.5%-24.0%88.4%68.0%42.1%14.4%

Long-Term 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 (€13.22) is trading below our estimate of fair value (€28.15)

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


Price To Earnings Ratio

PE vs Industry: INTERA is poor value based on its PE Ratio (45.1x) compared to the GB Professional Services industry average (30.1x).

PE vs Market: INTERA is poor value based on its PE Ratio (45.1x) compared to the UK market (22.9x).


Price to Earnings Growth Ratio

PEG Ratio: INTERA is poor value based on its PEG Ratio (1.5x)


Price to Book Ratio

PB vs Industry: INTERA is good value based on its PB Ratio (1.6x) compared to the GB Professional Services industry average (2.6x).


Next Steps

Future Growth

How is Intertrust forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

29.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: INTERA's forecast earnings growth (29.8% per year) is above the savings rate (1%).

Earnings vs Market: INTERA's earnings (29.8% per year) are forecast to grow faster than the UK market (25.3% per year).

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

Revenue vs Market: INTERA's revenue (3.5% per year) is forecast to grow slower than the UK market (6.6% per year).

High Growth Revenue: INTERA's revenue (3.5% 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 (15.2%).


Next Steps

Past Performance

How has Intertrust performed over the past 5 years?

18.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: INTERA has a large one-off loss of €41.1M impacting its September 30 2020 financial results.

Growing Profit Margin: INTERA's current net profit margins (4.6%) are lower than last year (18.8%).


Past Earnings Growth Analysis

Earnings Trend: INTERA's earnings have grown by 18.6% per year over the past 5 years.

Accelerating Growth: INTERA's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: INTERA had negative earnings growth (-73.3%) over the past year, making it difficult to compare to the Professional Services industry average (-14.9%).


Return on Equity

High ROE: INTERA's Return on Equity (3.5%) is considered low.


Next Steps

Financial Health

How is Intertrust's financial position?


Financial Position Analysis

Short Term Liabilities: INTERA's short term assets (€280.1M) exceed its short term liabilities (€227.7M).

Long Term Liabilities: INTERA's short term assets (€280.1M) do not cover its long term liabilities (€1.1B).


Debt to Equity History and Analysis

Debt Level: INTERA's debt to equity ratio (123.3%) is considered high.

Reducing Debt: INTERA's debt to equity ratio has reduced from 265% to 123.3% over the past 5 years.

Debt Coverage: INTERA's debt is well covered by operating cash flow (21.9%).

Interest Coverage: INTERA's interest payments on its debt are well covered by EBIT (3.2x coverage).


Balance Sheet


Next Steps

Dividend

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

4.95%

Forecast Dividend Yield


Dividend Yield vs Market

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

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

Growing Dividend: Insufficient data to determine if INTERA's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: INTERA is not paying a notable dividend for the UK market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of INTERA's dividend in 3 years as they are not forecast to pay a notable one for the UK market.


Next Steps

Management

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

1.5yrs

Average management tenure


CEO

Shankar Iyer (56 yo)

0.083

Tenure

Mr. Shankar Iyer serves as Acting Chief Executive Officer and a Member of the Management Board at Intertrust N.V. since December 7, 2020 and served as its Chief Solutions Officer until 2020. Mr. Iyer serve...


Leadership Team

NamePositionTenureCompensationOwnership
Rogier Maurice van Wijk
CFO & Member of Management Board1.33yrs€392.09k0.042%
€ 499.5k
Shankar Iyer
Acting CEO & Member of Management Board0.083yrno data0.24%
€ 2.9m
Chitra Baskar
COO and Global Head of Funds & Product1yrno datano data
Marieke Palstra
Director of Investor Relationsno datano datano data
Roberto Canenti
Chief Human Resources Officer2.58yrsno datano data
Cliff Pearce
Global Head of Capital Markets3.58yrsno datano data
Paul Lawrence
Global Head of Fund Servicesno datano datano data
Ian Rumens
Global Head of Private Wealthno datano datano data
Daniel Marc Jaffe
Managing Director of the Americas & ROW3yrsno datano data
Marie McNeela
Managing Director of Guernseyno datano datano data
Ian Lynch
Chief Commercial Officer1.5yrsno datano data
Douwe H. Terpstra
Managing Director of Luxembourg1.5yrsno datano data

1.5yrs

Average Tenure

49yo

Average Age

Experienced Management: INTERA's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Stewart Bennett
Independent Vice-Chairperson of Supervisory Boardno datano datano data
Anthony Ruys
Independent Member of Supervisory Board5.42yrsno datano data
Charlotte Lambkin
Independent Member of Supervisory Board3.25yrsno datano data
Paul Willing
Member of Supervisory Board3.25yrsno datano data
Hélène Vletter-van Dort
Independent Chairperson of Supervisory Board6yrsno datano data
A. H. A. Van Laack
Independent Member of Supervisory Board3.67yrsno datano data

3.7yrs

Average Tenure

55.5yo

Average Age

Experienced Board: INTERA's board of directors are considered experienced (3.7 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 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: €1.191b
  • Shares outstanding: 90.20m
  • 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
INTERENXTAM (Euronext Amsterdam)YesOrdinary SharesNLEUROct 2015
4ITDB (Deutsche Boerse AG)YesOrdinary SharesDEEUROct 2015
INTERABATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEUROct 2015
0RCLLSE (London Stock Exchange)YesOrdinary SharesGBEUROct 2015
ITRU.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDOct 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, m...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/24 03:39
End of Day Share Price2021/01/20 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.