Euroconsultants (ATSE:EUROC) - Share price, News & Analysis

Q: What is the Fair Price of EUROC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

EUROC (€0.69) is trading above our estimate of [[fair value]] (€0.01)

EUROC fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	0/6
Past Performance	1/6
Financial Health	0/6
Dividends	0/6

EUROC Stock Overview

Euroconsultants S.A. provides consulting services primarily in the areas of innovation and technology to public and private sector customers in Greece and internationally.

Rewards

Price-To-Earnings ratio (14.4x) is below the IT industry average (22.1x)

Risk Analysis

Interest payments are not well covered by earnings

High level of non-cash earnings

Shareholders have been diluted in the past year

Does not have meaningful revenue (€4M)

+ 1 more risk

Euroconsultants Competitors

Byte Computer

ATSE:BYTE

€52.6m

Space Hellas

ATSE:SPACE

€52.7m

Performance Technologies

ATSE:PERF

€49.3m

Ilyda

ATSE:ILYDA

€9.6m

Price History & Performance

Summary of all time highs, changes and price drops for Euroconsultants
Historical stock prices
Current Share Price	€0.69
52 Week High	€0.71
52 Week Low	€0.47
Beta	0.22
1 Month Change	13.95%
3 Month Change	22.50%
1 Year Change	23.60%
3 Year Change	220.56%
5 Year Change	37.20%
Change since IPO	-91.01%

Recent News & Updates

Jun 23

Is Euroconsultants (ATH:EUROC) Using Too Much Debt?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Oct 05

We Don’t Think Euroconsultants' (ATH:EUROC) Earnings Should Make Shareholders Too Comfortable

Euroconsultants SA's ( ATH:EUROC ) stock performed strongly after the recent earnings report. However, we think that...

Shareholder Returns

	EUROC	GR IT	GR Market
7D	4.9%	0.8%	2.5%
1Y	23.6%	1.4%	0.9%

Return vs Industry: EUROC exceeded the Greek IT industry which returned 1.4% over the past year.

Return vs Market: EUROC exceeded the Greek Market which returned 0.9% over the past year.

Price Volatility

Is EUROC's price volatile compared to industry and market?
EUROC volatility
EUROC Average Weekly Movement	5.6%
IT Industry Average Movement	5.7%
Market Average Movement	4.8%
10% most volatile stocks in GR Market	7.0%
10% least volatile stocks in GR Market	2.8%

Stable Share Price: EUROC is not significantly more volatile than the rest of Greek stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: EUROC's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1990	36	Paris Stergiou	https://www.euroconsultants.gr

Euroconsultants S.A. provides consulting services primarily in the areas of innovation and technology to public and private sector customers in Greece and internationally. The company establishes and operates incubators and science parks, as well as manages venture capital funds, and advises and manages EU research and development projects; offers advisory services to local and regional development authorities; designs and implements solutions in the information and knowledge management domain; and provides business, and small and medium enterprises development services, as well as consulting services to the public and private sector in the fields of environmental management, energy management, and renewable resources. It also offers technical assistance to public sector institutes to manage the administrative and fiscal devolution process, including corresponding legal changes; and project and program management services, as well as services in the health sector.

Euroconsultants Fundamentals Summary

How do Euroconsultants's earnings and revenue compare to its market cap?
EUROC fundamental statistics
Market Cap	€10.18m
Earnings (TTM)	€705.40k
Revenue (TTM)	€4.12m

14.4x

P/E Ratio

2.5x

P/S Ratio

Is EUROC overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
EUROC income statement (TTM)
Revenue	€4.12m
Cost of Revenue	€3.28m
Gross Profit	€844.22k
Other Expenses	€138.82k
Earnings	€705.40k

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	0.048
Gross Margin	20.49%
Net Profit Margin	17.12%
Debt/Equity Ratio	331.9%

How did EUROC perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is EUROC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for EUROC?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for EUROC. This is calculated by dividing EUROC's market cap by their current preferred multiple.
What is EUROC's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	€10.18m

EUROC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	3.2x
Enterprise Value/EBITDA	40.5x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does EUROC's PE Ratio compare to its peers?

EUROC PE Ratio vs Peers

The above table shows the PE ratio for EUROC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	16.8x
BYTE Byte Computer	16.9x	n/a	€52.6m
SPACE Space Hellas	13.7x	n/a	€52.7m
PERF Performance Technologies	14.2x	n/a	€49.3m
ILYDA Ilyda	22.4x	n/a	€9.6m
EUROC Euroconsultants	14.4x	n/a	€10.2m

Price-To-Earnings vs Peers: EUROC is good value based on its Price-To-Earnings Ratio (14.4x) compared to the peer average (16.8x).

Price to Earnings Ratio vs Industry

How does EUROC's PE Ratio compare vs other companies in the European IT Industry?

Price-To-Earnings vs Industry: EUROC is good value based on its Price-To-Earnings Ratio (14.4x) compared to the European IT industry average (22.1x)

Price to Earnings Ratio vs Fair Ratio

What is EUROC's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

EUROC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	14.4x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate EUROC's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of EUROC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: EUROC (€0.69) is trading above our estimate of fair value (€0.01)

Significantly Below Fair Value: EUROC is trading above our estimate of fair value.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

Discover undervalued companies

Future Growth

How is Euroconsultants forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

23.5%

Forecasted Software industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Euroconsultants has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Discover growth companies

Take a look at our analysis of EUROC’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
Euroconsultants competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Euroconsultants performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

62.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: EUROC has a high level of non-cash earnings.

Growing Profit Margin: EUROC's current net profit margins (17.1%) are lower than last year (19.6%).

Past Earnings Growth Analysis

Earnings Trend: EUROC has become profitable over the past 5 years, growing earnings by 62.9% per year.

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

Earnings vs Industry: EUROC had negative earnings growth (-11.2%) over the past year, making it difficult to compare to the IT industry average (26.6%).

Return on Equity

High ROE: Whilst EUROC's Return on Equity (146.13%) is outstanding, this metric is skewed due to their high level of debt.

Discover strong past performing companies

Financial Health

How is Euroconsultants's financial position?

Financial Health Score

0/6

Financial Health Score 0/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: EUROC's short term assets (€3.1M) do not cover its short term liabilities (€3.8M).

Long Term Liabilities: EUROC's short term assets (€3.1M) do not cover its long term liabilities (€4.1M).

Debt to Equity History and Analysis

Debt Level: EUROC's net debt to equity ratio (316.4%) is considered high.

Reducing Debt: EUROC's debt to equity ratio has increased from 286.4% to 331.9% over the past 5 years.

Debt Coverage: EUROC's debt is not well covered by operating cash flow (12.3%).

Interest Coverage: EUROC's interest payments on its debt are not well covered by EBIT (2.8x coverage).

Balance Sheet

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Dividend

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

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

Dividend Yield vs Market

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

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

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

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as EUROC has not reported any payouts.

Discover strong dividend paying companies

Management

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

7.2yrs

Average board tenure

CEO

Paris Stergiou

no data

Tenure

Dr. Paris Kokorotsikos Tou Stergiou serves as the Chairman of the Board and Chief Executive Officer at Euroconsultants S.A. Dr. Kokorotsikos serves as Non Executive Member of the Boardof i4G S.A.

Board Members

Experienced Board: EUROC's board of directors are considered experienced (7.2 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 been diluted in the past year, with total shares outstanding growing by 33.3%.

Data	Last Updated (UTC time)
Company Analysis	2022/08/15 00:00
End of Day Share Price	2022/08/12 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31