NZSE:PPH

Stock Analysis Report

Executive Summary

Pushpay Holdings Limited provides donor management system to the faith sector, non-profit organizations, and education providers in the United States, Canada, Australia, and New Zealand.

Snowflake

Fundamentals

Flawless balance sheet with reasonable growth potential.


Similar Companies

Share Price & News

How has Pushpay Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PPH has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

11.4%

PPH

2.5%

NZ IT

0.7%

NZ Market


1 Year Return

7.0%

PPH

11.8%

NZ IT

15.0%

NZ Market

Return vs Industry: PPH underperformed the NZ IT industry which returned 11.8% over the past year.

Return vs Market: PPH underperformed the NZ Market which returned 15% over the past year.


Shareholder returns

PPHIndustryMarket
7 Day11.4%2.5%0.7%
30 Day10.3%-3.4%-0.7%
90 Day11.0%9.6%-0.04%
1 Year7.0%7.0%14.0%11.8%20.0%15.0%
3 Year81.0%81.0%52.4%41.3%58.8%38.0%
5 Year501.6%495.8%86.7%64.4%94.7%50.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Pushpay Holdings undervalued compared to its fair value and its price relative to the market?

15.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PPH (NZ$3.53) is trading below our estimate of fair value (NZ$4.16)

Significantly Below Fair Value: PPH is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: PPH is good value based on its PE Ratio (20.8x) compared to the IT industry average (22.1x).

PE vs Market: PPH is poor value based on its PE Ratio (20.8x) compared to the NZ market (18.8x).


Price to Earnings Growth Ratio

PEG Ratio: PPH is poor value based on its PEG Ratio (1.6x)


Price to Book Ratio

PB vs Industry: PPH is overvalued based on its PB Ratio (13.7x) compared to the XO IT industry average (2.6x).


Next Steps

Future Growth

How is Pushpay Holdings forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

12.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PPH's forecast earnings growth (12.8% per year) is above the savings rate (2.4%).

Earnings vs Market: PPH's earnings (12.8% per year) are forecast to grow faster than the NZ market (7.5% per year).

High Growth Earnings: PPH's earnings are forecast to grow, but not significantly.

Revenue vs Market: PPH's revenue (12.1% per year) is forecast to grow faster than the NZ market (4.4% per year).

High Growth Revenue: PPH's revenue (12.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PPH's Return on Equity is forecast to be high in 3 years time (27%)


Next Steps

Past Performance

How has Pushpay Holdings performed over the past 5 years?

21.2%

Historical annual earnings growth


Earnings and Revenue History

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

Growing Profit Margin: PPH's current net profit margins (26.6%) are higher than last year (-17.9%).


Past Earnings Growth Analysis

Earnings Trend: PPH has become profitable over the past 5 years, growing earnings by 21.2% per year.

Accelerating Growth: PPH has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: PPH has become profitable in the last year, making it difficult to compare its past year earnings growth to the IT industry (38.5%).


Return on Equity

High ROE: PPH's Return on Equity (65.9%) is considered outstanding.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Pushpay Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: PPH's short term assets ($36.2M) exceeds its short term liabilities ($14.1M)

Long Term Liabilities: PPH's short term assets (36.2M) exceeds its long term liabilities (2.2M)


Debt to Equity History and Analysis

Debt Level: PPH is debt free.

Reducing Debt: PPH had no debt 5 years ago.

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

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


Balance Sheet

Inventory Level: PPH has a low level of unsold assets or inventory.

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


Next Steps

Dividend

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

0.59%

Forecast Dividend Yield


Dividend Yield vs Market

companyn/amarketbottom25%3.1%markettop25%5.6%industryaverage2.5%forecastin3Years0.6%

Current dividend yield vs market & industry

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

High Dividend: Unable to evaluate PPH's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PPH's dividends per share have been stable in the past.

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


Current Payout to Shareholders

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


Future Payout to Shareholders

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


Next Steps

Management

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

2.8yrs

Average management tenure


CEO

Bruce Gordon 0

0.4yrs

Tenure

US$162,000

Compensation

Mr. Bruce Patrick Gordon serves as Chief Executive Officer of Cristal Air International (trading as HRV) and has expertise in retail, banking, finance and electronic payments. Mr. Gordon serves as the Chie ...


Management Age and Tenure

2.8yrs

Average Tenure

Experienced Management: PPH's management team is considered experienced (2.8 years average tenure).


Board Age and Tenure

0.5yrs

Average Tenure

Experienced Board: PPH's board of directors are not considered experienced ( 0.5 years average tenure), which suggests a new board.


Insider Trading

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


Recent Insider Transactions

BuyUS$31,65809 Aug 19
Realindex Investments Pty Limited
EntityCompany
Shares8,472
Max PriceUS$3.74
SellUS$14,29409 Aug 19
Realindex Investments Pty Limited
EntityCompany
Shares3,725
Max PriceUS$3.84
BuyUS$2,270,08709 Aug 19
First Sentier Investors (Australia) IM Ltd
EntityCompany
Shares665,853
Max PriceUS$3.41

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Bruce Gordon

    CEO & Executive Director

    • Tenure: 0.4yrs
    • Compensation: US$162.00k
  • Shane Sampson

    Chief Financial Officer

    • Tenure: 4.1yrs
  • Michael Erisman

    Chief People Officer

    • Tenure: 0.7yrs
  • Guy Weismantel

    Chief Marketing Officer

    • Tenure: 1.8yrs
  • Chris Heaslip

    Co-Founder & Non-Executive Director

    • Tenure: 8.3yrs
    • Compensation: US$1.06m
  • Matt Tresidder

    Vice President of Sales

    • Tenure: 3.8yrs
  • Sarah Elder

    Investor Relations Manager

    • Tenure: 0yrs
  • Steve Basden

    President

    • Tenure: 0yrs
  • Kevin Kuck

    Senior Vice President of Operations

    • Tenure: 0yrs
  • Cherry Chu

    Accounting Manager

    • Tenure: 0yrs

Board Members

  • Bruce Gordon

    CEO & Executive Director

    • Tenure: 0.4yrs
    • Compensation: US$162.00k
  • Peter Karl Huljich (42yo)

    Non-Executive Director

    • Tenure: 0.5yrs
  • Justine Gay Smyth

    Independent Director

    • Tenure: 0.3yrs
  • Graham Shaw

    Independent Chairman

    • Tenure: 0.5yrs
    • Compensation: US$64.00k
  • Chris Huljich

    Alternate Director

    • Tenure: 0yrs
    • Compensation: US$60.00k
  • Chris Heaslip

    Co-Founder & Non-Executive Director

    • Tenure: 8.3yrs
    • Compensation: US$1.06m

Company Information

Pushpay Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Pushpay Holdings Limited
  • Ticker: PPH
  • Exchange: NZSE
  • Founded: 2011
  • Industry: Data Processing and Outsourced Services
  • Sector: Software
  • Market Cap: NZ$968.921m
  • Shares outstanding: 275.26m
  • Website: https://www.pushpay.com

Number of Employees


Location

  • Pushpay Holdings Limited
  • Building D
  • Level 6
  • Auckland
  • 1010
  • New Zealand

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PPHNZSE (New Zealand Stock Exchange)YesOrdinary SharesNZNZDAug 2014
PHPY.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDAug 2014
PPHASX (Australian Securities Exchange)YesOrdinary SharesAUAUDAug 2014
PPHCHIA (Chi-X Australia)YesOrdinary SharesAUAUDAug 2014

Biography

Pushpay Holdings Limited provides donor management system to the faith sector, non-profit organizations, and education providers in the United States, Canada, Australia, and New Zealand. Its donor manageme ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/12 10:39
End of Day Share Price2019/11/11 00:00
Earnings2019/09/30
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.