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FNVT

Finnovate Acquisition NasdaqGM:FNVT Stock Report

Last Price

US$10.08

Market Cap

US$218.9m

7D

0.1%

1Y

n/a

Updated

27 Sep, 2022

Data

Company Financials
FNVT fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance0/6
Financial Health2/6
Dividends0/6

FNVT Stock Overview

Finnovate Acquisition Corp. does not have significant operations.

Finnovate Acquisition Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Finnovate Acquisition
Historical stock prices
Current Share PriceUS$10.08
52 Week HighUS$10.67
52 Week LowUS$9.75
Beta0
1 Month Change0.099%
3 Month Change1.41%
1 Year Changen/a
3 Year Changen/a
5 Year Changen/a
Change since IPOn/a

Recent News & Updates

Shareholder Returns

FNVTUS Capital MarketsUS Market
7D0.1%-6.7%-5.8%
1Yn/a-25.5%-22.1%

Return vs Industry: Insufficient data to determine how FNVT performed against the US Capital Markets industry.

Return vs Market: Insufficient data to determine how FNVT performed against the US Market.

Price Volatility

Is FNVT's price volatile compared to industry and market?
FNVT volatility
FNVT Average Weekly Movement0.6%
Capital Markets Industry Average Movement0.5%
Market Average Movement6.9%
10% most volatile stocks in US Market15.7%
10% least volatile stocks in US Market2.8%

Stable Share Price: FNVT is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 1% a week.

Volatility Over Time: FNVT's weekly volatility (1%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2021n/aDavid Gershonhttps://www.finnovateacquisition.com

Finnovate Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. It intends to acquire Israel-related companies, including companies focused on payments, insuretech, wealthtech, regtech, digital banking, fintech as a service (FAAS), banking as a service (BAAS), cyber area for financial institutions, blockchain and crypto, algo-trading and exchanges, and lending and credit line platforms.

Finnovate Acquisition Fundamentals Summary

How do Finnovate Acquisition's earnings and revenue compare to its market cap?
FNVT fundamental statistics
Market CapUS$218.86m
Earnings (TTM)-US$879.82k
Revenue (TTM)n/a

0.0x

P/S Ratio

-248.8x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FNVT income statement (TTM)
RevenueUS$0
Cost of RevenueUS$0
Gross ProfitUS$0
Other ExpensesUS$879.82k
Earnings-US$879.82k

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.041
Gross Margin0.00%
Net Profit Margin0.00%
Debt/Equity Ratio71.9%

How did FNVT perform over the long term?

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

Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book 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 FNVT?

Other financial metrics that can be useful for relative valuation.

FNVT 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/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ration/a

Price to Book Ratio vs Peers

How does FNVT's PB Ratio compare to its peers?

FNVT PB Ratio vs Peers
The above table shows the PB ratio for FNVT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPBEstimated GrowthMarket Cap
Peer Average6774.9x
GBBK Global Blockchain Acquisition
12179xn/aUS$217.2m
OXUS Oxus Acquisition
1138.5xn/aUS$221.0m
AXAC AXIOS Sustainable Growth Acquisition
13480xn/aUS$221.6m
SWSS Springwater Special Situations
320.8xn/aUS$223.9m
FNVT Finnovate Acquisition
350xn/aUS$218.9m

Price-To-Book vs Peers: FNVT is good value based on its Price-To-Book Ratio (350x) compared to the peer average (6774.9x).


Price to Earnings Ratio vs Industry

How does FNVT's PE Ratio compare vs other companies in the US Capital Markets Industry?

Price-To-Book vs Industry: FNVT is expensive based on its Price-To-Book Ratio (350x) compared to the US Capital Markets industry average (-23.3x)


Price to Book Ratio vs Fair Ratio

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

FNVT PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio350x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate FNVT's Price-To-Book Fair Ratio for valuation analysis.


Share Price vs Fair Value

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

Below Fair Value: Insufficient data to calculate FNVT's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate FNVT's fair value for valuation analysis.


Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Finnovate Acquisition forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


11.8%

Forecasted Diversified Financials industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Finnovate Acquisition has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Discover growth companies

  • Take a look at our analysis of FNVT’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.

Past Performance

How has Finnovate Acquisition 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


20.8%

Historical Diversified Financials annual earnings growth

Earnings and Revenue History

Quality Earnings: FNVT is currently unprofitable.

Growing Profit Margin: FNVT is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: Unable to establish if FNVT's year-on-year earnings growth rate was positive over the past 5 years as it has been trading publicly for less than 3 years.

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

Earnings vs Industry: FNVT is unprofitable, making it difficult to compare its past year earnings growth to the Capital Markets industry (33.2%).


Return on Equity

High ROE: FNVT has a negative Return on Equity (-140.65%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is Finnovate Acquisition's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: FNVT's short term assets ($1.0M) exceed its short term liabilities ($495.3K).

Long Term Liabilities: FNVT's short term assets ($1.0M) do not cover its long term liabilities ($176.2M).


Debt to Equity History and Analysis

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

Reducing Debt: Insufficient data to determine if FNVT's debt to equity ratio has reduced 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: FNVT has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: FNVT has less than a year of cash runway if free cash flow continues to reduce at historical rates of 74.4% each year


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Dividend

What is Finnovate Acquisition 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

Dividend Yield vs Market

Finnovate Acquisition Dividend Yield vs Market
How does Finnovate Acquisition dividend yield compare to the market?
SegmentDividend Yield
Company (Finnovate Acquisition)n/a
Market Bottom 25% (US)1.7%
Market Top 25% (US)4.7%
Industry Average (Capital Markets)2.9%
Analyst forecast in 3 Years (Finnovate Acquisition)n/a

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

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

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


Discover strong dividend paying companies

Management

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


CEO

David Gershon (56 yo)

no data

Tenure

Prof. David Gershon serves as Chairman of the Board and Chief Executive Officer of Finnovate Acquisition Corp. Prof. Gershon was appointed as a professor at the business school of the Hebrew University of...


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

What is the ownership structure of FNVT?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders75,0000.3%
Hedge Funds1,315,2726.1%
General Public4,222,60219.4%
Private Companies4,237,50019.5%
Institutions11,862,12654.6%

Dilution of Shares: FNVT only recently listed within the past 12 months.


Top Shareholders

Top 25 shareholders own 68.82% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
19.52%
Finnovate Sponsor L.P.
4,237,500$42.7m0%no data
6.06%
Saba Capital Management, L.P.
1,315,272$13.3m0%0.18%
4.47%
Cantor Fitzgerald Asset Management
970,268$9.8m290.57%0.19%
3.8%
Point72 Asset Management, L.P.
824,831$8.3m-0.02%0.02%
3.06%
D. E. Shaw & Co., L.P.
664,173$6.7m8.18%0.01%
2.98%
Marshall Wace LLP
646,429$6.5m0%0.02%
2.35%
Periscope Capital Inc
510,400$5.1m0%0.15%
2.3%
Hartree Partners LP, Asset Management Arm
500,000$5.0m0%1.4%
2.01%
Barclays PLC Private Banking & Investment Banking Investment
437,061$4.4m0%0.01%
1.96%
Linden Advisors LP
425,000$4.3m0%0.25%
1.95%
Mangrove Partners
423,379$4.3m0%0.35%
1.84%
Spring Creek Capital, LLC
400,000$4.0m0%0.2%
1.75%
Karpus Management Inc
379,100$3.8m284.78%0.14%
1.73%
Weiss Asset Management, LLC
375,000$3.8m0%0.14%
1.61%
Context Capital Management LLC
350,000$3.5m0%0.5%
1.47%
Taconic Capital Advisors L.P.
320,000$3.2m0%0.12%
1.38%
Hudson Bay Capital Management LP
300,000$3.0m0%0.04%
1.38%
Goldman Sachs Group, Investment Banking and Securities Investments
300,000$3.0m0%no data
1.15%
Capstone Investment Advisors, LLC
250,000$2.5m0%0.14%
1.12%
Glazer Capital, LLC
244,237$2.5m0%0.06%
1.09%
UBS O'Connor LLC
236,261$2.4m0%0.06%
1.01%
Brookfield Asset Management Inc.
220,000$2.2m0%0.01%
0.98%
Verition Fund Management LLC
212,600$2.1m0%0.05%
0.93%
Basso Capital Management, L.P.
201,392$2.0m0.24%0.22%
0.92%
Spartan Fund Management Inc.
200,000$2.0m0%0.38%

Company Information

Finnovate Acquisition Corp.'s employee growth, exchange listings and data sources


Key Information

  • Name: Finnovate Acquisition Corp.
  • Ticker: FNVT
  • Exchange: NasdaqGM
  • Founded: 2021
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Implied Market Cap: US$218.862m
  • Shares outstanding: 21.71m
  • Website: https://www.finnovateacquisition.com

Location

  • Finnovate Acquisition Corp.
  • The White House
  • 20 Genesis Close
  • George Town
  • Grand Cayman
  • KY1 1208
  • Cayman Islands


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FNVT.UNasdaqGM (Nasdaq Global Market)UnitsUSUSDNov 2021
FNVTNasdaqGM (Nasdaq Global Market)YesClass A Ordinary SharesUSUSDDec 2021

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/27 00:00
End of Day Share Price2022/09/27 00:00
Earnings2022/06/30
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.