Smart Eye (OM:SEYE) - Share price, News & Analysis

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

SEYE (SEK61.8) is trading below our estimate of [[fair value]] (SEK593.27)

SEYE fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	5/6
Past Performance	0/6
Financial Health	6/6
Dividends	0/6

SEYE Stock Overview

Smart Eye AB (publ) develops eye tracking artificial intelligence technology solutions that understands, supports, and predicts human intentions and actions in Sweden and internationally.

Rewards

Trading at 89.6% below our estimate of its fair value

Earnings are forecast to grow 82.59% per year

Risk Analysis

Shareholders have been diluted in the past year

Smart Eye Competitors

Pricer

OM:PRIC B

kr1.8b

Beijer Electronics Group

OM:BELE

kr1.6b

Sensys Gatso Group

OM:SENS

kr977.1m

Fingerprint Cards

OM:FING B

kr2.7b

Price History & Performance

Summary of all time highs, changes and price drops for Smart Eye
Historical stock prices
Current Share Price	kr61.80
52 Week High	kr262.00
52 Week Low	kr58.75
Beta	1.34
1 Month Change	-15.63%
3 Month Change	-51.64%
1 Year Change	-74.78%
3 Year Change	-38.57%
5 Year Change	28.75%
Change since IPO	2.15%

Recent News & Updates

May 05

One Smart Eye AB (publ) (STO:SEYE) Analyst Just Made A Major Cut To Next Year's Estimates

Today is shaping up negative for Smart Eye AB (publ) ( STO:SEYE ) shareholders, with the covering analyst delivering a...

Shareholder Returns

	SEYE	SE Electronic	SE Market
7D	-7.1%	1.7%	0.2%
1Y	-74.8%	-18.2%	-22.4%

Return vs Industry: SEYE underperformed the Swedish Electronic industry which returned -16.1% over the past year.

Return vs Market: SEYE underperformed the Swedish Market which returned -20.9% over the past year.

Price Volatility

Is SEYE's price volatile compared to industry and market?
SEYE volatility
SEYE Average Weekly Movement	9.3%
Electronic Industry Average Movement	7.4%
Market Average Movement	7.4%
10% most volatile stocks in SE Market	12.1%
10% least volatile stocks in SE Market	4.7%

Stable Share Price: SEYE is not significantly more volatile than the rest of Swedish stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: SEYE's weekly volatility (9%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1999	256	Martin Krantz	https://www.smarteye.se

Smart Eye AB (publ) develops eye tracking artificial intelligence technology solutions that understands, supports, and predicts human intentions and actions in Sweden and internationally. The company offers driver monitoring systems and interior sensing solutions for automotive market; and end-to-end driver monitoring systems for fleet and aftermarket. It also provides eye tracking systems for analyzing human behavior under the Smart Eye Pro, Smart Eye Pro dx, AI-X, XO, and Aurora names, as well as offers smart recorders, software, and analysis services to automotive, aviation, aerospace, neuroscience, psychology, human computer interaction research, user experience/marketing, and medicine industries.

Smart Eye Fundamentals Summary

How do Smart Eye's earnings and revenue compare to its market cap?
SEYE fundamental statistics
Market Cap	kr1.37b
Earnings (TTM)	-kr186.14m
Revenue (TTM)	kr145.05m

9.4x

P/S Ratio

-7.4x

P/E Ratio

Is SEYE overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
SEYE income statement (TTM)
Revenue	kr145.05m
Cost of Revenue	kr19.42m
Gross Profit	kr125.63m
Other Expenses	kr311.77m
Earnings	-kr186.14m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 26, 2022

Earnings per share (EPS)	-8.40
Gross Margin	86.61%
Net Profit Margin	-128.33%
Debt/Equity Ratio	5.6%

How did SEYE perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for SEYE. This is calculated by dividing SEYE's market cap by their current preferred multiple.
What is SEYE's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	kr1.37b

SEYE 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	8.5x
Enterprise Value/EBITDA	-10.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does SEYE's PS Ratio compare to its peers?

SEYE PS Ratio vs Peers

The above table shows the PS ratio for SEYE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PS	Estimated Growth	Market Cap
Peer Average	1.4x
PRIC B Pricer	1x	15.0%	kr1.8b
BELE Beijer Electronics Group	0.9x	13.8%	kr1.6b
SENS Sensys Gatso Group	1.8x	12.1%	kr977.1m
FING B Fingerprint Cards	2.1x	29.0%	kr2.7b
SEYE Smart Eye	9.4x	47.9%	kr1.4b

Forward PS

Price-To-Sales vs Peers: SEYE is expensive based on its Price-To-Sales Ratio (9.4x) compared to the peer average (1.4x).

Price to Earnings Ratio vs Industry

How does SEYE's PE Ratio compare vs other companies in the SE Electronic Industry?

Price-To-Sales vs Industry: SEYE is expensive based on its Price-To-Sales Ratio (9.4x) compared to the Swedish Electronic industry average (2.1x)

Price to Sales Ratio vs Fair Ratio

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

SEYE PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	9.4x
Fair PS Ratio	26.1x

Price-To-Sales vs Fair Ratio: SEYE is good value based on its Price-To-Sales Ratio (9.4x) compared to the estimated Fair Price-To-Sales Ratio (26.1x).

Share Price vs Fair Value

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

Below Fair Value: SEYE (SEK61.8) is trading below our estimate of fair value (SEK593.27)

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

Price to Earnings Growth Ratio

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

Discover undervalued companies

Future Growth

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

Future Growth Score

5/6

Future Growth Score 5/6

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

82.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: SEYE is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (0.3%).

Earnings vs Market: SEYE is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: SEYE is expected to become profitable in the next 3 years.

Revenue vs Market: SEYE's revenue (47.9% per year) is forecast to grow faster than the Swedish market (5.6% per year).

High Growth Revenue: SEYE's revenue (47.9% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: SEYE is forecast to be unprofitable in 3 years.

Discover growth companies

Past Performance

How has Smart Eye performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

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

-28.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SEYE is currently unprofitable.

Growing Profit Margin: SEYE is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: SEYE is unprofitable, and losses have increased over the past 5 years at a rate of 28.8% per year.

Accelerating Growth: Unable to compare SEYE's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: SEYE is unprofitable, making it difficult to compare its past year earnings growth to the Electronic industry (23.5%).

Return on Equity

High ROE: SEYE has a negative Return on Equity (-13.25%), as it is currently unprofitable.

Discover strong past performing companies

Financial Health

How is Smart Eye's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: SEYE's short term assets (SEK296.6M) exceed its short term liabilities (SEK86.9M).

Long Term Liabilities: SEYE's short term assets (SEK296.6M) exceed its long term liabilities (SEK201.2M).

Debt to Equity History and Analysis

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

Reducing Debt: SEYE's debt to equity ratio has reduced from 7.6% to 5.6% over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: SEYE has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: SEYE has sufficient cash runway for 1.3 years if free cash flow continues to reduce at historical rates of 25.9% each year.

Discover healthy companies

Dividend

What is Smart Eye 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

Dividend Yield vs Market

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

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

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

Discover strong dividend paying companies

Management

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

5.4yrs

Average management tenure

CEO

Martin Krantz (50 yo)

no data

Tenure

Mr. Martin Krantz is a Founder and serves as Chief Executive Officer of Smart Eye AB (publ). Mr. Krantz holds a degree in Engineering Physics from Chalmers University of Technology.

Leadership Team

Experienced Management: SEYE's management team is seasoned and experienced (5.4 years average tenure).

Board Members

Experienced Board: SEYE's board of directors are considered experienced (6.9 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: SEYE 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 33.2%.

Data	Last Updated (UTC time)
Company Analysis	2022/06/28 00:00
End of Day Share Price	2022/06/28 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31