AIM:IGP

Stock Analysis Report

Executive Summary

Intercede Group plc, a cybersecurity company, engages in identity, credential management, and secure mobility business to enable digital trust in the United Kingdom, rest of Europe, North America, and internationally.

Snowflake

Fundamentals

Mediocre balance sheet with poor track record.

Risks

  • Intercede Group is covered by less than 3 analysts.

Share Price & News

How has Intercede Group's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0%

AIM:IGP

1.6%

GB Software

1.4%

GB Market


1 Year Return

8.9%

AIM:IGP

1.7%

GB Software

-5.7%

GB Market

IGP outperformed the Software industry which returned 1.7% over the past year.

IGP outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -5.7% over the past year.


Share holder returns

IGPIndustryMarket
7 Day0%1.6%1.4%
30 Day-5.4%-6.3%-4.8%
90 Day-7.8%-5.6%-1.9%
1 Year8.9%8.9%6.3%1.7%-1.3%-5.7%
3 Year-68.2%-68.2%14.5%-3.4%17.6%3.6%
5 Year-80.9%-80.9%93.0%56.1%24.6%-2.0%

Price Volatility Vs. Market

How volatile is Intercede Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

31.74x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Unable to calculate intrinsic value for Intercede Group to establish if it is available at moderate discount.

Unable to calculate intrinsic value for Intercede Group to establish if it is available at substantial discount.


Price Based on Earnings

Intercede Group is overvalued based on earnings compared to the GB Software industry average.

Intercede Group is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.


Price Based on Expected Growth

Unable to calculate PEG ratio for Intercede Group, we can't assess if its growth is good value.


Price Based on Value of Assets

Intercede Group has negative assets, we can't compare the value of its assets to the GB Software industry average.


Next Steps

Future Growth

How is Intercede Group expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

36.4%

Forecasted Software industry annual growth in earnings


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Unable to determine if Intercede Group is high growth as no revenue estimate data is available.

Unable to determine if Intercede Group is high growth as no earnings estimate data is available.

Unable to compare Intercede Group's revenue growth to the United Kingdom of Great Britain and Northern Ireland market average as no estimate data is available.

Unable to compare Intercede Group's earnings growth to the United Kingdom of Great Britain and Northern Ireland market average as no estimate data is available.

Unable to compare Intercede Group's earnings growth to the low risk savings rate as no estimate data is available.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Intercede Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has Intercede Group performed over the past 5 years?

-23.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Intercede Group's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.

Intercede Group has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.

Intercede Group has become profitable in the last year making it difficult to compare the GB Software industry average.


Return on Equity

It is difficult to establish if Intercede Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.


Return on Assets

Intercede Group used its assets more efficiently than the GB Software industry average last year based on Return on Assets.


Return on Capital Employed

It is difficult to establish if Intercede Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.


Next Steps

Financial Health

How is Intercede Group's financial position?


Financial Position Analysis

Intercede Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Intercede Group's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Intercede Group has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.

Irrelevant to check if Intercede Group's debt level has increased considering it has negative shareholder equity.

Debt is well covered by operating cash flow (20.2%, greater than 20% of total debt).

Unable to confirm if the interest payments on Intercede Group's debt are well covered by earnings due to lack of past financial data.


Balance Sheet

Low level of unsold assets.

Intercede Group has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.


Next Steps

Dividend

What is Intercede Group's current dividend yield, its reliability and sustainability?


Dividend Yield and Payments Analysis

Unable to evaluate Intercede Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate Intercede Group's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as Intercede Group has not reported any payouts.

Unable to verify if Intercede Group's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as Intercede Group has not reported any payouts.


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

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

4.1yrs

Average management tenure


CEO

Klaas van der Leest (52yo)

1.3yrs

Tenure

UK£409,850

Compensation

Mr. Klaas Peter van der Leest serves as Chief Executive Officer and Director of Intercede Group plc since April 10, 2018 and he is responsible for sales since April 26, 2018. He served as the Managing Dire ...


CEO Compensation Analysis

Klaas's remuneration is higher than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.

Insufficient data for Klaas to compare compensation growth.


Management Age and Tenure

4.1yrs

Average Tenure

The tenure for the Intercede Group management team is about average.


Board Age and Tenure

7.4yrs

Average Tenure

56yo

Average Age

The tenure for the Intercede Group board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

SellUK£29,40004 Sep 18
Richard Parris
EntityIndividual
Shares75,000
Max PriceUK£0.41

Ownership Breakdown


Management Team

  • Andrew Walker (59yo)

    Finance Director

    • Tenure: 18.9yrs
    • Compensation: UK£282.00k
  • Klaas van der Leest (52yo)

    CEO & Director

    • Tenure: 1.3yrs
    • Compensation: UK£409.85k
  • Chris Edwards

    Chief Technical Officer

    • Tenure: 0.0yrs
  • Allen Storey

    Chief Product Officer

    • Tenure: 4.1yrs
  • Mike Weston

    Chief Operations Officer

    • Tenure: 0.0yrs

Board Members

  • Royston Hoggarth (57yo)

    Non-Executive Director

    • Tenure: 17.0yrs
    • Compensation: UK£25.00k
  • Chuck Pol

    Non-Executive Chairman

    • Tenure: 1.4yrs
    • Compensation: UK£92.00k
  • Jacques Tredoux (55yo)

    Non Executive Director

    • Tenure: 13.4yrs
  • Andrew Walker (59yo)

    Finance Director

    • Tenure: 18.9yrs
    • Compensation: UK£282.00k
  • Klaas van der Leest (52yo)

    CEO & Director

    • Tenure: 1.3yrs
    • Compensation: UK£409.85k
  • Rob Chandhok (56yo)

    Independent Non-Executive Director

    • Tenure: 0.2yrs

Company Information

Intercede Group plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Intercede Group plc
  • Ticker: IGP
  • Exchange: AIM
  • Founded: 1992
  • Industry: Application Software
  • Sector: Software
  • Market Cap: UK£16.760m
  • Shares outstanding: 50.48m
  • Website: https://www.intercede.com

Number of Employees


Location

  • Intercede Group plc
  • Lutterworth Hall
  • St. Mary's Road
  • Lutterworth
  • Leicestershire
  • LE17 4PS
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IGPAIM (London Stock Exchange AIM Market)YesOrdinary SharesGBGBPJan 2001
IRCD.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 2001

Biography

Intercede Group plc, a cybersecurity company, engages in identity, credential management, and secure mobility business to enable digital trust in the United Kingdom, rest of Europe, North America, and inte ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/23 20:43
End of Day Share Price2019/08/23 00:00
Earnings2019/03/31
Annual Earnings2019/03/31


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.