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PPH

Pushpay Holdings NZSE:PPH Stock Report

Last Price

NZ$1.27

Market Cap

NZ$1.4b

7D

-3.8%

1Y

-21.1%

Updated

16 Aug, 2022

Data

Company Financials +
PPH fundamental analysis
Snowflake Score
Valuation5/6
Future Growth4/6
Past Performance4/6
Financial Health3/6
Dividends0/6

PPH Stock Overview

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

Pushpay Holdings Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Pushpay Holdings
Historical stock prices
Current Share PriceNZ$1.27
52 Week HighNZ$1.97
52 Week LowNZ$0.90
Beta0.95
1 Month Change-0.78%
3 Month Change2.42%
1 Year Change-21.12%
3 Year Change62.82%
5 Year Change156.57%
Change since IPO1,272.97%

Recent News & Updates

May 25
Pushpay Holdings (NZSE:PPH) Seems To Use Debt Quite Sensibly

Pushpay Holdings (NZSE:PPH) Seems To Use Debt Quite Sensibly

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

Shareholder Returns

PPHNZ ITNZ Market
7D-3.8%-5.5%0.3%
1Y-21.1%-9.3%-9.7%

Return vs Industry: PPH underperformed the NZ IT industry which returned -9.3% over the past year.

Return vs Market: PPH underperformed the NZ Market which returned -9.7% over the past year.

Price Volatility

Is PPH's price volatile compared to industry and market?
PPH volatility
PPH Average Weekly Movement6.5%
IT Industry Average Movement13.3%
Market Average Movement4.4%
10% most volatile stocks in NZ Market8.1%
10% least volatile stocks in NZ Market3.0%

Stable Share Price: PPH is more volatile than 75% of NZ stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: PPH's weekly volatility (6%) has been stable over the past year, but is still higher than 75% of NZ stocks.

About the Company

FoundedEmployeesCEOWebsite
2011564Molly Matthewshttps://www.pushpay.com

Pushpay Holdings Limited, together with its subsidiaries, 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 management system comprises donor tools, finance tools, and a custom community app. The company provides engagement, payment, and administration solutions, which enable its customers to enhance participation and build stronger relationships with their communities.

Pushpay Holdings Fundamentals Summary

How do Pushpay Holdings's earnings and revenue compare to its market cap?
PPH fundamental statistics
Market CapUS$909.27m
Earnings (TTM)US$33.40m
Revenue (TTM)US$202.86m

27.7x

P/E Ratio

4.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PPH income statement (TTM)
RevenueUS$202.86m
Cost of RevenueUS$64.48m
Gross ProfitUS$138.38m
Other ExpensesUS$104.98m
EarningsUS$33.40m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Nov 09, 2022

Earnings per share (EPS)0.029
Gross Margin68.21%
Net Profit Margin16.47%
Debt/Equity Ratio33.3%

How did PPH perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • 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 PPH?

Other financial metrics that can be useful for relative valuation.

PPH 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/Revenue4.7x
Enterprise Value/EBITDA19x
PEG Ratio1.9x

Price to Earnings Ratio vs Peers

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

PPH PE Ratio vs Peers
The above table shows the PE ratio for PPH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average25.6x
SPY Smartpay Holdings
56.8x31.5%NZ$175.1m
SDL Solution Dynamics
14.1xn/aNZ$36.8m
9923 Yeahka
14.8x18.3%HK$7.3b
ECLERX eClerx Services
17.1x9.4%₹72.9b
PPH Pushpay Holdings
27.7x14.7%NZ$1.4b

Price-To-Earnings vs Peers: PPH is expensive based on its Price-To-Earnings Ratio (27.7x) compared to the peer average (25.7x).


Price to Earnings Ratio vs Industry

How does PPH's PE Ratio compare vs other companies in the Global IT Industry?

Price-To-Earnings vs Industry: PPH is good value based on its Price-To-Earnings Ratio (27.7x) compared to the Oceanic IT industry average (35x)


Price to Earnings Ratio vs Fair Ratio

What is PPH'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.

PPH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio27.7x
Fair PE Ratio36.9x

Price-To-Earnings vs Fair Ratio: PPH is good value based on its Price-To-Earnings Ratio (27.7x) compared to the estimated Fair Price-To-Earnings Ratio (36.9x).


Share Price vs Fair Value

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

Below Fair Value: PPH (NZ$1.27) is trading below our estimate of fair value (NZ$2.81)

Significantly Below Fair Value: PPH is trading below fair value by more than 20%.


Analyst Price Targets

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

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is Pushpay Holdings forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


14.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PPH's forecast earnings growth (14.7% per year) is above the savings rate (2.1%).

Earnings vs Market: PPH's earnings (14.7% per year) are forecast to grow faster than the NZ market (5.4% per year).

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

Revenue vs Market: PPH's revenue (8.8% per year) is forecast to grow faster than the NZ market (5.8% per year).

High Growth Revenue: PPH's revenue (8.8% 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 (20.2%)


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Past Performance

How has Pushpay Holdings performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


59.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PPH has high quality earnings.

Growing Profit Margin: PPH's current net profit margins (16.5%) are lower than last year (17.4%).


Past Earnings Growth Analysis

Earnings Trend: PPH has become profitable over the past 5 years, growing earnings by 59.7% per year.

Accelerating Growth: PPH's earnings growth over the past year (7.1%) is below its 5-year average (59.7% per year).

Earnings vs Industry: PPH earnings growth over the past year (7.1%) exceeded the IT industry 7%.


Return on Equity

High ROE: PPH's Return on Equity (20.6%) is considered high.


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Financial Health

How is Pushpay Holdings's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: PPH's short term assets ($29.8M) do not cover its short term liabilities ($39.4M).

Long Term Liabilities: PPH's short term assets ($29.8M) do not cover its long term liabilities ($59.7M).


Debt to Equity History and Analysis

Debt Level: PPH's net debt to equity ratio (29.1%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if PPH's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: PPH's debt is well covered by operating cash flow (113.8%).

Interest Coverage: PPH's interest payments on its debt are well covered by EBIT (38.8x coverage).


Balance Sheet


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Dividend

What is Pushpay Holdings'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


0.55%

Forecast Dividend Yield

Dividend Yield vs Market

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

High Dividend: Unable to evaluate PPH'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 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.


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 PPH has not reported any payouts.


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Management

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

1.4yrs

Average management tenure


CEO

Molly Matthews

1.42yrs

Tenure

Ms. Molly Matthews serves as the Chief Executive Officer of Pushpay Holdings Limited since March 1, 2021. She served as the Chief Customer Officer at Pushpay Holdings Limited until March 1, 2021 and served...


Leadership Team

Experienced Management: PPH's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.


Board Members

Experienced Board: PPH's board of directors are not considered experienced ( 2.2 years average tenure), which suggests a new board.


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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3.3%.


Top Shareholders

Company Information

Pushpay Holdings Limited's 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
  • Implied Market Cap: NZ$1.426b
  • Shares outstanding: 1.14b
  • Website: https://www.pushpay.com

Number of Employees


Location

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

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/16 00:00
End of Day Share Price2022/08/16 00:00
Earnings2022/03/31
Annual Earnings2022/03/31


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.