Shapeways Holdings (NYSE:SHPW) - Share price, News & Analysis

SHPW fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	2/6
Past Performance	0/6
Financial Health	6/6
Dividends	0/6

SHPW Stock Overview

Shapeways Holdings, Inc. facilitates the design, manufacture, and sale of 3D printed products in the United States, Europe, and internationally.

Rewards

Trading at 96.5% below our estimate of its fair value

Revenue is forecast to grow 48.13% per year

Risk Analysis

Revenue has declined by 0.8% over the past year

Volatile share price over the past 3 months

Does not have a meaningful market cap ($82M)

Shapeways Holdings Competitors

Dassault Systèmes

ENXTPA:DSY

€48.7b

Autodesk

NasdaqGS:ADSK

US$42.6b

NYSE:HPQ

US$41.7b

3D Systems

NYSE:DDD

US$1.4b

Price History & Performance

Summary of all time highs, changes and price drops for Shapeways Holdings
Historical stock prices
Current Share Price	US$1.68
52 Week High	US$12.81
52 Week Low	US$1.37
Beta	0.69
1 Month Change	-34.12%
3 Month Change	-49.70%
1 Year Change	-83.42%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-82.59%

Shareholder Returns

	SHPW	US Commercial Services	US Market
7D	8.4%	2.3%	2.7%
1Y	-83.4%	-3.2%	-8.1%

Return vs Industry: SHPW underperformed the US Commercial Services industry which returned -5.5% over the past year.

Return vs Market: SHPW underperformed the US Market which returned -10.8% over the past year.

Price Volatility

Is SHPW's price volatile compared to industry and market?
SHPW volatility
SHPW Average Weekly Movement	13.6%
Commercial Services Industry Average Movement	7.8%
Market Average Movement	7.8%
10% most volatile stocks in US Market	16.9%
10% least volatile stocks in US Market	2.9%

Stable Share Price: SHPW is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 14% a week.

Volatility Over Time: SHPW's weekly volatility (14%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

Founded	Employees	CEO	Website
2008	152	Greg Kress	https://www.shapeways.com

Shapeways Holdings, Inc. facilitates the design, manufacture, and sale of 3D printed products in the United States, Europe, and internationally. The company offers an end-to-end digital manufacturing platform on which the users can transform digital designs into physical products under the Otto brand. It provides additive manufacturing services, such as 3D printing, rapid prototyping, and design services; and traditional manufacturing services, including injection molding, sheet metal, urethane and vacuum casting, CNC machining, and machine tooling.

Shapeways Holdings Fundamentals Summary

How do Shapeways Holdings's earnings and revenue compare to its market cap?
SHPW fundamental statistics
Market Cap	US$82.23m
Earnings (TTM)	-US$22.12m
Revenue (TTM)	US$32.40m

2.5x

P/S Ratio

-3.7x

P/E Ratio

Is SHPW overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
SHPW income statement (TTM)
Revenue	US$32.40m
Cost of Revenue	US$17.17m
Gross Profit	US$15.23m
Other Expenses	US$37.35m
Earnings	-US$22.12m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	-0.45
Gross Margin	47.00%
Net Profit Margin	-68.27%
Debt/Equity Ratio	0%

How did SHPW perform over the long term?

See historical performance and comparison

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: SHPW ($1.68) is trading below our estimate of fair value ($48.34)

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

Price To Earnings Ratio

PE vs Industry: SHPW is unprofitable, so we can't compare its PE Ratio to the US Commercial Services industry average.

PE vs Market: SHPW is unprofitable, so we can't compare its PE Ratio to the US market.

Price to Earnings Growth Ratio

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

Price to Book Ratio

PB vs Industry: SHPW is good value based on its PB Ratio (1x) compared to the US Commercial Services industry average (1.8x).

Future Growth

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

Future Growth Score

2/6

Future Growth Score 2/6

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

48.1%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if SHPW's forecast earnings growth is above the savings rate (1.9%).

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

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

Revenue vs Market: SHPW's revenue (48.1% per year) is forecast to grow faster than the US market (7.9% per year).

High Growth Revenue: SHPW's revenue (48.1% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

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

Past Performance

How has Shapeways Holdings 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

-96,078.3%

Last years earnings growth

Earnings and Revenue History

Quality Earnings: SHPW is currently unprofitable.

Growing Profit Margin: SHPW is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if SHPW's year-on-year earnings growth rate was positive over the past 5 years.

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

Earnings vs Industry: SHPW is unprofitable, making it difficult to compare its past year earnings growth to the Commercial Services industry (34.3%).

Return on Equity

High ROE: SHPW has a negative Return on Equity (-4.88%), as it is currently unprofitable.

Financial Health

How is Shapeways Holdings'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: SHPW's short term assets ($74.2M) exceed its short term liabilities ($6.3M).

Long Term Liabilities: SHPW's short term assets ($74.2M) exceed its long term liabilities ($1.4M).

Debt to Equity History and Analysis

Debt Level: SHPW is debt free.

Reducing Debt: SHPW had no debt 5 years ago.

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: SHPW has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: SHPW has sufficient cash runway for 1.9 years if free cash flow continues to reduce at historical rates of 81.9% each year.

Dividend

What is Shapeways 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
Future Dividend Coverage

Dividend Yield vs Market

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

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

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

Next Steps

Explore strong dividend paying companies in the Commercial Services industry.

Management

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

0.7yrs

Average management tenure

CEO

Greg Kress (38 yo)

0.67

Tenure

US$1,496,583

Compensation

Mr. Gregory Kress, also known as Greg, serves as Chief Executive Officer of Shapeways Holdings, Inc. since September 29, 2021 and serves as its Director. Mr. Kress served as Legacy Shapeways’ Chief Executi...

CEO Compensation Analysis

Compensation vs Market: Greg's total compensation ($USD1.50M) is above average for companies of similar size in the US market ($USD772.03K).

Compensation vs Earnings: Greg's compensation has increased whilst the company is unprofitable.

Leadership Team

Experienced Management: SHPW's management team is not considered experienced ( 0.7 years average tenure), which suggests a new team.

Board Members

Experienced Board: SHPW's board of directors are not considered experienced ( 0.7 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: Insufficient data to determine if shareholders have been diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/05/17 00:00
End of Day Share Price	2022/05/17 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31