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BNET

Bittnet Systems BVB:BNET Stock Report

Last Price

RON0.33

Market Cap

RON152.1m

7D

5.4%

1Y

-23.7%

Updated

10 May, 2022

Data

Company Financials +
BNET fundamental analysis
Snowflake Score
Valuation4/6
Future Growth1/6
Past Performance5/6
Financial Health4/6
Dividends0/6

BNET Stock Overview

Bittnet Systems SA provides IT integration and training services in Romania.

Price History & Performance

Summary of all time highs, changes and price drops for Bittnet Systems
Historical stock prices
Current Share PriceRON0.33
52 Week HighRON0.43
52 Week LowRON0.27
Beta0
1 Month Change3.45%
3 Month Change-7.30%
1 Year Change-23.67%
3 Year Changen/a
5 Year Changen/a
Change since IPO-26.83%

Recent News & Updates

Jan 05
Here's Why Bittnet Systems (BVB:BNET) Can Manage Its Debt Responsibly

Here's Why Bittnet Systems (BVB:BNET) Can Manage Its Debt Responsibly

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

Nov 18
There Are Some Reasons To Suggest That Bittnet Systems' (BVB:BNET) Earnings A Poor Reflection Of Profitability

There Are Some Reasons To Suggest That Bittnet Systems' (BVB:BNET) Earnings A Poor Reflection Of Profitability

Shareholders didn't seem to be thrilled with Bittnet Systems SA's ( BVB:BNET ) recent earnings report, despite healthy...

Shareholder Returns

BNETRO ITRO Market
7D5.4%-8.5%-2.4%
1Y-23.7%-15.8%5.0%

Return vs Industry: BNET underperformed the RO IT industry which returned -16.9% over the past year.

Return vs Market: BNET underperformed the RO Market which returned 5.5% over the past year.

Price Volatility

Is BNET's price volatile compared to industry and market?
BNET volatility
BNET Average Weekly Movement5.5%
IT Industry Average Movement6.5%
Market Average Movement6.3%
10% most volatile stocks in RO Market10.6%
10% least volatile stocks in RO Market4.1%

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

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

About the Company

FoundedEmployeesCEOWebsite
2007150Mihai Alexandru Logofatuhttps://www.bittnet.ro

Bittnet Systems SA provides IT integration and training services in Romania. The company operates in two divisions, Education and Technology. It offers various IT training services, such as project management, IT services management, business intelligence, CRM, enterprise resource planning (ERP), Agile, etc., as well as a range of IT courses.

Bittnet Systems Fundamentals Summary

How do Bittnet Systems's earnings and revenue compare to its market cap?
BNET fundamental statistics
Market CapRON152.06m
Earnings (TTM)RON13.70m
Revenue (TTM)RON112.59m

11.6x

P/E Ratio

1.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BNET income statement (TTM)
RevenueRON112.59m
Cost of RevenueRON88.11m
Gross ProfitRON24.48m
Other ExpensesRON10.78m
EarningsRON13.70m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.029
Gross Margin21.74%
Net Profit Margin12.17%
Debt/Equity Ratio63.6%

How did BNET perform over the long term?

See historical performance and comparison

Valuation

Is Bittnet Systems undervalued compared to its fair value and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


12.7%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: BNET (RON0.33) is trading below our estimate of fair value (RON0.38)

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


Price To Earnings Ratio

PE vs Industry: BNET is good value based on its PE Ratio (11.6x) compared to the European IT industry average (20x).

PE vs Market: BNET is good value based on its PE Ratio (11.6x) compared to the RO market (12.4x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: BNET is good value based on its PB Ratio (3x) compared to the XE IT industry average (3.3x).


Future Growth

How is Bittnet Systems forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


16.5%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if BNET's forecast earnings growth is above the savings rate (1.1%).

Earnings vs Market: Insufficient data to determine if BNET's earnings are forecast to grow faster than the RO market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: BNET's revenue (16.5% per year) is forecast to grow faster than the RO market (3.3% per year).

High Growth Revenue: BNET's revenue (16.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BNET's Return on Equity is forecast to be low in 3 years time (15.5%).


Past Performance

How has Bittnet Systems performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


29.2%

Historical annual earnings growth

Earnings and Revenue History

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

Growing Profit Margin: BNET's current net profit margins (12.2%) are higher than last year (0.8%).


Past Earnings Growth Analysis

Earnings Trend: BNET's earnings have grown significantly by 29.2% per year over the past 5 years.

Accelerating Growth: BNET's earnings growth over the past year (1430.5%) exceeds its 5-year average (29.2% per year).

Earnings vs Industry: BNET earnings growth over the past year (1430.5%) exceeded the IT industry 23.7%.


Return on Equity

High ROE: BNET's Return on Equity (26.1%) is considered high.


Financial Health

How is Bittnet Systems's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: BNET's short term assets (RON80.0M) exceed its short term liabilities (RON47.1M).

Long Term Liabilities: BNET's short term assets (RON80.0M) exceed its long term liabilities (RON31.6M).


Debt to Equity History and Analysis

Debt Level: BNET has more cash than its total debt.

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

Debt Coverage: BNET's debt is not well covered by operating cash flow (12.1%).

Interest Coverage: BNET earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is Bittnet Systems'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

  • Future Dividend Coverage


3.03%

Forecast Dividend Yield

Dividend Yield vs Market

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

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

Growing Dividend: Insufficient data to determine if BNET'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 BNET has not reported any payouts.


Next Steps

Management

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

3.8yrs

Average management tenure


CEO

Mihai Alexandru Logofatu (37 yo)

15.33yrs

Tenure

Mr. Mihai Alexandru Constantin Logofatu is the Founder at Bittnet Systems SA and has been its Chief Executive Officer since 2007 and has been President of the board. Mr. Logofatu is Manager of Academia Cre...


Leadership Team

Experienced Management: BNET's management team is considered experienced (3.8 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Bittnet Systems SA's employee growth, exchange listings and data sources


Key Information

  • Name: Bittnet Systems SA
  • Ticker: BNET
  • Exchange: BVB
  • Founded: 2007
  • Industry: IT Consulting and Other Services
  • Sector: Software
  • Implied Market Cap: RON152.058m
  • Shares outstanding: 480.44m
  • Website: https://www.bittnet.ro

Number of Employees


Location

  • Bittnet Systems SA
  • Plaza Romania Offices Building
  • 1st Floor
  • Bucharest
  • 61331
  • Romania

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/10 00:00
End of Day Share Price2022/05/10 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


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.