NasdaqCM:TDAC

Stock Analysis Report

Executive Summary

Trident Acquisitions Corp. does not have significant operations.


Snowflake Analysis

Weak fundamentals or lack of information.

Share Price & News

How has Trident Acquisitions's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TDAC has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.5%

TDAC

-8.6%

US Capital Markets

-10.6%

US Market


1 Year Return

4.4%

TDAC

4.9%

US Capital Markets

5.2%

US Market

Return vs Industry: TDAC matched the US Capital Markets industry which returned 4.9% over the past year.

Return vs Market: TDAC matched the US Market which returned 5.2% over the past year.


Shareholder returns

TDACIndustryMarket
7 Day-0.5%-8.6%-10.6%
30 Day0.3%-7.9%-8.5%
90 Day0.5%-4.4%-4.6%
1 Year4.4%4.4%7.1%4.9%7.4%5.2%
3 Yearn/a25.5%18.4%31.7%23.2%
5 Yearn/a65.9%50.7%56.4%39.3%

Price Volatility Vs. Market

How volatile is Trident Acquisitions's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Trident Acquisitions undervalued compared to its fair value and its price relative to the market?

15.11x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: TDAC ($10.59) is trading above our estimate of fair value ($1.91)

Significantly Below Fair Value: TDAC is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: TDAC is unprofitable, so we can't compare its PE Ratio to the Capital Markets industry average.

PE vs Market: TDAC 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 TDAC's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: TDAC is overvalued based on its PB Ratio (15.1x) compared to the US Capital Markets industry average (6.2x).


Next Steps

Future Growth

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

7.9%

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 Trident Acquisitions 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.


Next Steps

Past Performance

How has Trident Acquisitions performed over the past 5 years?

-170.1%

Last years earnings growth


Earnings and Revenue History

Quality Earnings: TDAC is currently unprofitable.

Growing Profit Margin: TDAC is currently unprofitable.


Past Earnings Growth Analysis

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

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

Earnings vs Industry: TDAC is unprofitable, making it difficult to compare its past year earnings growth to the Capital Markets industry (8.5%).


Return on Equity

High ROE: TDAC has a negative Return on Equity (61.06%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Trident Acquisitions's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: TDAC has a low level of unsold assets or inventory.

Debt Coverage by Assets: TDAC's debt is covered by short term assets (assets are 1.6x debt).


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: TDAC has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: TDAC has less than a year of cash runway if free cash flow continues to reduce at historical rates of -106.6% each year


Financial Institutions Analysis

Asset Level: TDAC's level of assets compared to its equity is very high.

Allowance for Bad Loans: Insufficient data to determine if TDAC has a sufficient allowance for bad loans.

Low Risk Liabilities: TDAC reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if TDAC has an acceptable proportion of non-loan assets held.

Low Risk Deposits: TDAC has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if TDAC has an appropriate level of bad loans.


Next Steps

Dividend

What is Trident Acquisitions's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.6%markettop25%4.1%industryaverage2.1%forecastin3Yearsn/a

Current dividend yield vs market & industry

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

High Dividend: Unable to evaluate TDAC's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TDAC's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TDAC's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TDAC's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

2.9yrs

Average management tenure


CEO

Ilya Ponomarev (42yo)

2yrs

Tenure

0

Mr. Ilya Ponomarev has been Chief Executive Officer of Trident Acquisitions Corp. since February 15, 2018 and also has been its Director since March 17, 2016. From December 2007 to the present, Mr. Ponomar ...


Leadership Team

NamePositionTenureCompensationOwnership
Ilya Ponomarev
CEO & Director2yrsno data25.81% $19.5m
Vadim Komissarov
President3.8yrsno data1.61% $1.2m
Oleksii Tymofiev
Chief Operating Officer2yrsno data0.042% $31.8k
Michael Wilson
Secretary & Treasurer3.8yrsno data0.021% $15.9k

2.9yrs

Average Tenure

44yo

Average Age

Experienced Management: TDAC's management team is considered experienced (2.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Ilya Ponomarev
CEO & Director2yrsno data25.81% $19.5m
Vadim Komissarov
President3.8yrsno data1.61% $1.2m
Thomas Gallagher
Independent Director3.8yrsno data7% $5.3m
Gennadii Butkevych
Independent Director2yrsno data7% $5.3m
Edward Verona
Non-Executive Chairman3.8yrsno data0.28% $211.7k

3.8yrs

Average Tenure

59yo

Average Age

Experienced Board: TDAC's board of directors are 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 been diluted in the past year, with total shares outstanding growing by 47.5%.


Top Shareholders

Company Information

Trident Acquisitions Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Trident Acquisitions Corp.
  • Ticker: TDAC
  • Exchange: NasdaqCM
  • Founded: 2016
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: US$75.568m
  • Shares outstanding: 7.14m
  • Website: https://www.tridentacquisitions.com

Location

  • Trident Acquisitions Corp.
  • 77 Water Street
  • 8th Floor
  • New York
  • New York
  • 10005
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TDAC.UNasdaqCM (Nasdaq Capital Market)UnitsUSUSDMay 2018
TDACNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDJun 2018

Biography

Trident Acquisitions Corp. does not have significant operations. It intends to enter into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more target businesses primarily in the oil and gas or other natural resource sector. The company was founded in 2016 and is headquartered in New York, New York. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/28 02:41
End of Day Share Price2020/02/27 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.