BUSE:KULCSSOFT

Stock Analysis Report

Kulcs-Soft Számítástechnika Nyrt

Executive Summary

Kulcs-Soft Számítástechnika Nyrt. develops and markets packaged business management, accounting, and payroll software in Hungary.

Snowflake

Fundamentals

Excellent balance sheet with solid track record.

Share Price & News

How has Kulcs-Soft Számítástechnika Nyrt's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-7.7%

KULCSSOFT

-0.2%

HU Software

0.7%

HU Market


1 Year Return

2.6%

KULCSSOFT

15.9%

HU Software

10.4%

HU Market

Return vs Industry: KULCSSOFT underperformed the Hungarian Software industry which returned 15.9% over the past year.

Return vs Market: KULCSSOFT underperformed the Hungarian Market which returned 10.4% over the past year.


Shareholder returns

KULCSSOFTIndustryMarket
7 Day-7.7%-0.2%0.7%
30 Day-20.5%3.5%-0.04%
90 Day-0.8%-0.4%-1.5%
1 Year7.9%2.6%18.1%15.9%13.5%10.4%
3 Year120.1%84.6%45.3%37.0%50.9%38.5%
5 Year200.0%118.2%129.0%109.8%159.6%127.1%

Price Volatility Vs. Market

How volatile is Kulcs-Soft Számítástechnika Nyrt's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Kulcs-Soft Számítástechnika Nyrt undervalued compared to its fair value and its price relative to the market?

18.18x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: KULCSSOFT (HUF1200) is trading above our estimate of fair value (HUF341.9)

Significantly Undervalued: KULCSSOFT is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: KULCSSOFT is good value based on its PE Ratio (18.2x) compared to the Software industry average (30.9x).

PE vs Market: KULCSSOFT is poor value based on its PE Ratio (18.2x) compared to the Hungarian market (14.6x).


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate KULCSSOFT's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: KULCSSOFT is overvalued based on its PB Ratio (15.4x) compared to the XE Software industry average (3x).


Next Steps

  • Explore potentially undervalued companies in the Software industry.

Future Growth

How is Kulcs-Soft Számítástechnika Nyrt forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

-47.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KULCSSOFT's earnings are forecast to decline over the next 3 years (-47.3% per year).

Earnings vs Market: KULCSSOFT's earnings are forecast to decline over the next 3 years (-47.3% per year).

High Growth Earnings: KULCSSOFT's earnings are forecast to decline over the next 3 years.

Revenue vs Market: Insufficient data to determine if KULCSSOFT's revenue is forecast to grow faster than the Hungarian market.

High Growth Revenue: Insufficient data to determine if KULCSSOFT's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if KULCSSOFT's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Kulcs-Soft Számítástechnika Nyrt performed over the past 5 years?

7.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: KULCSSOFT's earnings have grown by 7.9% per year over the past 5 years.

Accelerating Growth: KULCSSOFT's earnings growth over the past year (8.3%) exceeds its 5-year average (7.9% per year).

Earnings vs Industry: KULCSSOFT earnings growth over the past year (8.3%) underperformed the Software industry 9.1%.


Return on Equity

High ROE: KULCSSOFT's Return on Equity (152%) is considered outstanding.


Return on Assets

ROA vs Industry: KULCSSOFT has a higher Return on Assets than the Software industry average last year.


Return on Capital Employed

ROCE Improving: KULCSSOFT has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Kulcs-Soft Számítástechnika Nyrt's financial position?


Financial Position Analysis

Short Term Liabilities: KULCSSOFT's short term assets (HUF568.0M) do not cover its short term liabilities (HUF1.0B)

Long Term Liabilities: KULCSSOFT's short term assets (568.0M) exceeds its long term liabilities (331.4M)


Debt to Equity History and Analysis

Debt Level: KULCSSOFT is debt free.

Reducing Debt: KULCSSOFT has not had any debt for past 5 years.

Debt Coverage: KULCSSOFT has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: KULCSSOFT has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: KULCSSOFT has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if KULCSSOFT's debt is covered by short term assets.


Next Steps

Dividend

What is Kulcs-Soft Számítástechnika Nyrt's current dividend yield, its reliability and sustainability?

5.67%

Current Dividend Yield


Dividend Yield vs Market

company5.7%marketbottom25%2.2%markettop25%5.6%industryaverage1.4%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: KULCSSOFT's dividend (5.67%) is higher than the bottom 25% of dividend payers in the Hungarian market (2.15%).

High Dividend: KULCSSOFT's dividend (5.67%) is in the top 25% of dividend payers in the Hungarian market (5.62%)

Stable Dividend: KULCSSOFT has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: KULCSSOFT's dividend payments have increased, but the company has only paid a dividend for 6 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (103%), KULCSSOFT's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Kulcs-Soft Számítástechnika Nyrt's salary, the management and board of directors tenure and is there insider trading?

10.2yrs

Average board tenure


CEO

Kulcsar Tibor 0

0yrs

Tenure

0

Mr. Kulcsar Tibor serves as the Chairman of the Management Board, Member of Management Board, President and Chief Executive Officer at Kulcs-Soft Számítástechnika Nyrt. 


Board Age and Tenure

10.2yrs

Average Tenure

Experienced Board: KULCSSOFT's board of directors are seasoned and experienced ( 10.2 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Management Team

  • Kulcsar Tibor

    CEO, President & Chairman of Management Board

    • Tenure: 0yrs

Board Members

  • Gyorgyevics Benedek

    Chairman of the Supervisory Board

    • Tenure: 10.2yrs
  • S. Csaba

    Member of the Supervisory Board

    • Tenure: 10.2yrs
  • Lehoczki Mihály

    Member of the Supervisory Board

    • Tenure: 10.2yrs
  • Zsinko Balint

    Member of the Supervisory Board

    • Tenure: 10.2yrs
  • Szetei Tibor

    Member of the Supervisory Board

    • Tenure: 10.2yrs

Company Information

Kulcs-Soft Számítástechnika Nyrt.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Kulcs-Soft Számítástechnika Nyrt.
  • Ticker: KULCSSOFT
  • Exchange: BUSE
  • Founded: 1988
  • Industry: Systems Software
  • Sector: Software
  • Market Cap: Ft7.200b
  • Shares outstanding: 6.00m
  • Website: https://www.kulcs-soft.hu

Location

  • Kulcs-Soft Számítástechnika Nyrt.
  • Törökvész út 30/A
  • Budapest
  • 1022
  • Hungary

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KULCSSOFTBUSE (Budapest Stock Exchange)YesShare CapitalHUHUFOct 2009

Biography

Kulcs-Soft Számítástechnika Nyrt. develops and markets packaged business management, accounting, and payroll software in Hungary. It offers business management software products, including Kulcs-Ügyvitel,  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 21:08
End of Day Share Price2019/10/17 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.