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Tungsten

AIM:TUNG
Snowflake Description

Mediocre balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TUNG
AIM
£50M
Imp Market Cap
  1. Home
  2. GB
  3. Software
Company description

Tungsten Corporation Plc operates an e-invoicing network that also provides supply chain financing and spend analytics. The last earnings update was 127 days ago. More info.


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  • Tungsten has significant price volatility in the past 3 months.
TUNG Share Price and Events
7 Day Returns
-4.8%
AIM:TUNG
1.9%
GB IT
1.9%
GB Market
1 Year Returns
-33.4%
AIM:TUNG
0.1%
GB IT
2.5%
GB Market
TUNG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tungsten (TUNG) -4.8% -1% 36.7% -33.4% -32.4% -82.5%
GB IT 1.9% 6.2% 14% 0.1% 54.4% -7.2%
GB Market 1.9% 3% 7.9% 2.5% 15.6% 6.8%
1 Year Return vs Industry and Market
  • TUNG underperformed the IT industry which returned 0.1% over the past year.
  • TUNG underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 2.5% over the past year.
Price Volatility
TUNG
Industry
5yr Volatility vs Market

Value

 Is Tungsten 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 Tungsten 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 Tungsten.

AIM:TUNG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.1%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

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 AIM:TUNG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
IT Unlevered Beta Simply Wall St/ S&P Global 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.054 (1 + (1- 19%) (0%))
1.036
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.04
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.036 * 6.65%)
8.12%

Discounted Cash Flow Calculation for AIM:TUNG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Tungsten 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.

AIM:TUNG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 8.12%)
2019 -3.60 Analyst x1 -3.33
2020 0.60 Analyst x1 0.51
2021 1.01 Est @ 69.1% 0.80
2022 1.51 Est @ 48.73% 1.10
2023 2.03 Est @ 34.48% 1.37
2024 2.53 Est @ 24.51% 1.58
2025 2.97 Est @ 17.52% 1.72
2026 3.34 Est @ 12.63% 1.79
2027 3.65 Est @ 9.21% 1.81
2028 3.90 Est @ 6.82% 1.79
Present value of next 10 years cash flows £9.15
AIM:TUNG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= £3.90 × (1 + 1.23%) ÷ (8.12% – 1.23%)
£57.30
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £57.30 ÷ (1 + 8.12%)10
£26.25
AIM:TUNG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £9.15 + £26.25
£35.40
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £35.40 / 129.85
£0.27
AIM:TUNG Discount to Share Price
Calculation Result
Value per share (GBP) From above. £0.27
Current discount Discount to share price of £0.39
= -1 x (£0.39 - £0.27) / £0.27
-41.4%

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

  • The current share price of Tungsten is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Tungsten's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tungsten's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AIM:TUNG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-10-31) in GBP £-0.03
AIM:TUNG Share Price ** AIM (2019-04-18) in GBP £0.39
United Kingdom of Great Britain and Northern Ireland IT Industry PE Ratio Median Figure of 24 Publicly-Listed IT Companies 27.11x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 796 Publicly-Listed Companies 16.29x

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

** Primary Listing of Tungsten.

AIM:TUNG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AIM:TUNG Share Price ÷ EPS (both in GBP)

= 0.39 ÷ -0.03

-14.04x

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

  • Tungsten is loss making, we can't compare its value to the GB IT industry average.
  • Tungsten is loss making, we can't compare the value of its earnings to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Tungsten's expected growth come at a high price?
Raw Data
AIM:TUNG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -14.04x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
Not available
United Kingdom of Great Britain and Northern Ireland IT Industry PEG Ratio Median Figure of 17 Publicly-Listed IT Companies 1.5x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 563 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Tungsten, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Tungsten's assets?
Raw Data
AIM:TUNG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-10-31) in GBP £0.95
AIM:TUNG Share Price * AIM (2019-04-18) in GBP £0.39
United Kingdom of Great Britain and Northern Ireland IT Industry PB Ratio Median Figure of 45 Publicly-Listed IT Companies 3.76x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,365 Publicly-Listed Companies 1.51x
AIM:TUNG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AIM:TUNG Share Price ÷ Book Value per Share (both in GBP)

= 0.39 ÷ 0.95

0.41x

* Primary Listing of Tungsten.

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

  • Tungsten is good value based on assets compared to the GB IT industry average.
X
Value checks
We assess Tungsten'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 IT 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 IT industry average (and greater than 0)? (1 check)
  5. Tungsten has a total score of 1/6, 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 Tungsten expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
13.4%
Expected annual growth in revenue.
Earnings growth vs Low Risk Savings
Is Tungsten expected to grow at an attractive rate?
  • Unable to compare Tungsten's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Tungsten's earnings growth to the United Kingdom of Great Britain and Northern Ireland market average as no estimate data is available.
  • Tungsten's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
AIM:TUNG Future Growth Rates Data Sources
Data Point Source Value (per year)
AIM:TUNG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 13.4%
United Kingdom of Great Britain and Northern Ireland IT Industry Earnings Growth Rate Market Cap Weighted Average 14.4%
United Kingdom of Great Britain and Northern Ireland IT Industry Revenue Growth Rate Market Cap Weighted Average 9.3%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 10.9%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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
AIM:TUNG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AIM:TUNG Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-04-30 42 4 1
2019-04-30 36 -1 1
AIM:TUNG Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-10-31 34 -3 -3
2018-07-31 34 -6 -8
2018-04-30 34 -8 -12
2018-01-31 33 -10 -15
2017-10-31 33 -13 -18
2017-07-31 32 -12 -15
2017-04-30 31 -11 -12
2017-01-31 30 -14 -11
2016-10-31 28 -18 -9
2016-07-31 27 -20 -13
2016-04-30 26 -22 -18
2016-01-31 26 -23 -23

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Tungsten is high growth as no earnings estimate data is available.
  • Tungsten's revenue is expected to grow by 13.4% 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
AIM:TUNG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Tungsten Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:TUNG Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-04-30
2019-04-30
AIM:TUNG Past Financials Data
Date (Data in GBP Millions) EPS *
2018-10-31 -0.03
2018-07-31 -0.06
2018-04-30 -0.09
2018-01-31 -0.12
2017-10-31 -0.14
2017-07-31 -0.12
2017-04-30 -0.10
2017-01-31 -0.08
2016-10-31 -0.07
2016-07-31 -0.11
2016-04-30 -0.14
2016-01-31 -0.20

*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.
  • Unable to establish if Tungsten will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Tungsten'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 United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland 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.
Tungsten 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 Tungsten 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 Tungsten's growth in the last year to its industry (IT).
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.
  • Tungsten does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Tungsten's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Tungsten's 1-year growth to the GB IT industry average as it is not currently profitable.
Earnings and Revenue History
Tungsten'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 Tungsten Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:TUNG Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-10-31 34.18 -3.46 12.49
2018-07-31 33.92 -7.69 12.49
2018-04-30 33.66 -11.92 12.49
2018-01-31 33.22 -14.85 13.47
2017-10-31 32.79 -17.79 14.45
2017-07-31 32.03 -15.03 14.45
2017-04-30 31.27 -12.26 14.45
2017-01-31 29.87 -10.58 15.36
2016-10-31 28.47 -8.90 16.27
2016-07-31 27.18 -13.35 16.27
2016-04-30 25.90 -17.80 16.27
2016-01-31 25.65 -23.45 19.96
2015-10-31 25.30 -24.80 23.20
2015-07-31 23.92 -26.20 23.20
2015-04-30 22.55 -27.61 23.20
2015-01-31 21.36 -23.94 12.58
2014-10-31 20.17 -20.27 1.95
2014-07-31 15.47 -15.64 5.14
2014-04-30 10.77 -11.02 8.32
2013-10-31 0.83 -4.39 5.36
2013-07-31 0.41 -6.17 6.66
2013-04-30 -7.94 7.96

*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.
  • It is difficult to establish if Tungsten has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Tungsten has efficiently used its assets last year compared to the GB IT industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Tungsten improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Tungsten'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 IT 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.
Tungsten has a total score of 0/6, 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 Tungsten'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 Tungsten's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tungsten's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Tungsten's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Tungsten'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.
  • Tungsten has no debt, it does not need to be covered by short term assets.
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 Tungsten Company Filings, last reported 5 months ago.

AIM:TUNG Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-10-31 119.41 0.00 2.03
2018-07-31 119.41 0.00 2.03
2018-04-30 121.46 0.00 6.42
2018-01-31 121.46 0.00 6.42
2017-10-31 123.32 0.00 7.97
2017-07-31 123.32 0.00 7.97
2017-04-30 131.33 0.00 17.50
2017-01-31 131.33 0.00 17.50
2016-10-31 137.82 0.00 2.58
2016-07-31 137.82 0.00 2.58
2016-04-30 146.13 0.00 9.27
2016-01-31 146.13 0.00 9.27
2015-10-31 156.36 0.00 15.89
2015-07-31 156.36 0.00 15.89
2015-04-30 156.47 0.00 32.60
2015-01-31 156.47 0.00 32.60
2014-10-31 168.99 0.00 37.27
2014-07-31 168.99 0.00 37.27
2014-04-30 171.09 0.00 62.65
2013-10-31 176.62 0.00 75.37
2013-07-31 176.62 0.00 75.37
2013-04-30 4.73 0.00 3.40
  • Tungsten has no debt.
  • Tungsten has not taken on any debt in the past 5 years.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Tungsten has less than a year of cash runway based on current free cash flow.
  • Tungsten has less than a year of cash runway if free cash flow continues to reduce at historical rates of -22.1% each year.
X
Financial health checks
We assess Tungsten'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. Tungsten has a total score of 3/6, 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 Tungsten'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
0%
Current annual income from Tungsten dividends.
If you bought £2,000 of Tungsten shares you are expected to receive £0 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?
  • Unable to evaluate Tungsten's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Tungsten's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
AIM:TUNG 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 1 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland IT Industry Average Dividend Yield Market Cap Weighted Average of 20 Stocks 2.3%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.2%

Industry and Market average data is calculated daily.

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

AIM:TUNG Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2020-04-30
2019-04-30

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

  • Unable to perform a dividend volatility check as Tungsten has not reported any payouts.
  • Unable to verify if Tungsten's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Tungsten's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Tungsten 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.
X
Income/ dividend checks
We assess Tungsten's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - 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 Tungsten afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tungsten has a total score of 0/6, 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 Tungsten'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.
  • Tungsten has no CEO, or we have no data on them.
Management Team Tenure

Average tenure of the Tungsten management team in years:

2.8
Average Tenure
  • The tenure for the Tungsten management team is about average.
Management Team

David Williams

TITLE
Group CFO & Executive Director
COMPENSATION
£291K
TENURE
4.1 yrs

Tony Bromovsky

TITLE
Interim Executive Chairman of the Board
AGE
67
TENURE
0.2 yrs

Martyn Arbon

TITLE
Chief Technology Officer
TENURE
1.3 yrs

Cynthia Alers

TITLE
Head of Investor Relations

Patrick Clark

TITLE
General Counsel & Company Secretary
TENURE
3.1 yrs

Stanley Chia

TITLE
Head of Global Sales & VP
TENURE
2.1 yrs

John Hall

TITLE
Head of Major Accounts - EMEA
TENURE
5.2 yrs

Alec Holmes

TITLE
Senior Vice President of Service Delivery
TENURE
5.5 yrs

Andy Bass

TITLE
Senior Vice President of Commercial Development
TENURE
0.4 yrs

Prabhat Vira

TITLE
President of Tungsten Network Finance
TENURE
2.8 yrs
Board of Directors Tenure

Average tenure and age of the Tungsten board of directors in years:

0.5
Average Tenure
64.5
Average Age
  • The average tenure for the Tungsten board of directors is less than 3 years, this suggests a new board.
Board of Directors

David Williams

TITLE
Group CFO & Executive Director
COMPENSATION
£291K
TENURE
4.1 yrs

Tony Bromovsky

TITLE
Interim Executive Chairman of the Board
AGE
67
TENURE
0.5 yrs

Duncan Goldie-Morrison

TITLE
Non-Executive Director
AGE
62
TENURE
0.7 yrs

Andrew Doman

TITLE
Non-Executive Director
AGE
67
TENURE
0.3 yrs

Vivienne Maclachlan

TITLE
Non-Executive Director
AGE
39
TENURE
0.2 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 Tungsten'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. Tungsten 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

With A -99.83% Earnings Drop, Is Tungsten Corporation Plc's (LON:TUNG) A Concern?

In this commentary, I will examine Tungsten Corporation Plc's (AIM:TUNG) latest earnings update (31 October 2017) and compare these figures against its performance over the past couple of years, as well as how the rest of the software industry performed. … See our latest analysis for Tungsten Was TUNG's recent earnings decline worse than the long-term trend and the industry? … Eyeballing growth from a sector-level, the UK software industry has been growing its average earnings by double-digit 24.31% in the past year, and a more subdued 5.69% over the previous five years.

Simply Wall St -

February Insights Into Tech Stocks: Tungsten Corporation Plc (LON:TUNG)

Tech analysts are forecasting for the entire software tech industry, negative growth in the upcoming year , and an overall negative growth rate in the next couple of years. … AIM:TUNG PE PEG Gauge Feb 19th 18 The software tech industry is trading at a PE ratio of 29.42x, higher than the rest of the UK stock market PE of 17.83x. … Although it delivered lower growth relative to its tech peers in the near term, the market may be pessimistic on the stock, leading to a potential undervaluation.

Simply Wall St -

Who Owns Most Of Tungsten Corporation Plc (LON:TUNG)?

Check out our latest analysis for Tungsten AIM:TUNG Ownership_summary Dec 27th 17 Institutional Ownership In TUNG's case, institutional ownership stands at 63.12%, significant enough to cause considerable price moves in the case of large institutional transactions, especially when there is a low level of public shares available on the market to trade. … This size of ownership, while considerably small for a public company, may not be enough to change company policy if the decision is not in sync with other large shareholders. … Private Company Ownership Another important group of owners for potential investors in TUNG are private companies that hold a stake of 0.10% in TUNG.

Simply Wall St -

Does Tungsten Corporation Plc's (LON:TUNG) 32.4% Earnings Growth Make It An Outperformer?

Today I will take a look at Tungsten Corporation Plc's (AIM:TUNG) most recent earnings update (30 April 2017) and compare these latest figures against its performance over the past few years, as well as how the rest of the software industry performed. … See our latest analysis for Tungsten How TUNG fared against its long-term earnings performance and its industry I prefer to use data from the most recent 12 months, which either annualizes the most recent 6-month earnings update, or in some cases, the most recent annual report is already the latest available financial data. … Tungsten's most recent earnings -£12.3M, which, in comparison to last year’s level, has become less negative.

Simply Wall St -

Tungsten Corporation Plc (AIM:TUNG): Financial Strength Analysis

The direct benefit for Tungsten Corporation Plc (AIM:TUNG), which sports a zero-debt capital structure, to include debt in its capital structure is the reduced cost of capital. … I will take you through a few basic checks to assess the financial health of companies with no debt. … So, it is acceptable that the company is opting for a zero-debt capital structure currently as it may need to raise debt to fuel expansion in the future.

Simply Wall St -

How Does Tungsten Corporation Plc (AIM:TUNG)’s Prospect Stack Up Next To Its Tech Peers?

Tech analysts are forecasting for the entire software tech industry, a positive double-digit growth of 11.63% in the upcoming year , and a massive growth of 61.40% over the next couple of years. … AIM:TUNG PE PEG Gauge Nov 21st 17 The software tech industry is trading at a PE ratio of 28x, above the broader UK stock market PE of 19x. … If TUNG has been on your watchlist for a while, now may be the time to enter into the stock, if you like its growth prospects and are not highly concentrated in the tech industry.

Simply Wall St -

Does Tungsten Corporation Plc's (AIM:TUNG) CEO Salary Compared Well With Others?

View our latest analysis for Tungsten Did Hurwitz create value? … Given earnings are moving the right way, CEO pay should mirror Hurwitz's value creation for shareholders. … Normally I would look at market cap and earnings as a proxy for performance, however, TUNG's negative earnings lower the effectiveness of this method.

Simply Wall St -

Company Info

Description

Tungsten Corporation Plc operates an e-invoicing network that also provides supply chain financing and spend analytics. The company operates through Tungsten Network and Tungsten Network Finance segments. It offers solutions for buyers, such as e-invoicing solutions to streamline and digitize accounts payable processes; analytics solutions to transform invoice data; workflow solutions for streamlining accounts payable processes; payment solutions to control cash flow and receive payment; and invoice data capture solutions. The company also provides solutions for suppliers, including e-invoicing, early payment, global payments, and analytics. In addition, it offers trustee and investment management services. The company was founded in 2000 and is headquartered in London, the United Kingdom.

Details
Name: Tungsten Corporation Plc
TUNG
Exchange: AIM
Founded: 2000
£50,056,460
£48,606,980
129,848,147
Website: http://www.tungsten-network.com
Address: Tungsten Corporation Plc
Pountney Hill House,
6 Laurence Pountney Hill,
London,
Greater London, EC4R 0BL,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM TUNG Ordinary Shares London Stock Exchange AIM Market GB GBP 16. Oct 2013
OTCPK TGTN.F Ordinary Shares Pink Sheets LLC US USD 16. Oct 2013
DB TUN Ordinary Shares Deutsche Boerse AG DE EUR 16. Oct 2013
Number of employees
Current staff
Staff numbers
323
Tungsten employees.
Industry
Data Processing and Outsourced Services
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 21:39
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2018/12/13
Last earnings filing: 2018/12/13
Last earnings reported: 2018/10/31
Last annual earnings reported: 2018/04/30


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.