BTRS Holdings Inc. provides cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce.
BTRS Holdings Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$8.64|
|52 Week High||US$8.63|
|52 Week Low||US$19.76|
|1 Month Change||-18.87%|
|3 Month Change||-27.58%|
|1 Year Change||n/a|
|3 Year Change||n/a|
|5 Year Change||n/a|
|Change since IPO||-48.66%|
Recent News & Updates
BTRS Holdings: Accumulating Along With Insiders
Publicly birthed in the middle of the SPAC craze in early 2021, BTRS Holdings has lost some of its value since its peak in February. The accounts receivable solutions provider has developed an ecosystem of buyers, suppliers, banks, payment card issuers, and payment acceptance networks that should have wide appeal. Billtrust has a chance to be the market leader for mid-market/enterprise level customers with its stiffest competition coming from potential customers’ own in-house efforts. With a ~55.6 million share overhang from private equity interests, a clean balance sheet, plenty of blue sky, and insider buying, Billtrust merited further investigation. A full investment analysis is presented in the paragraphs below.
Is BTRS Holdings Inc. (NASDAQ:BTRS) Trading At A 50% Discount?
Today we will run through one way of estimating the intrinsic value of BTRS Holdings Inc. ( NASDAQ:BTRS ) by taking the...
|BTRS||US Software||US Market|
Return vs Industry: Insufficient data to determine how BTRS performed against the US Software industry.
Return vs Market: Insufficient data to determine how BTRS performed against the US Market.
Stable Share Price: BTRS is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.
Volatility Over Time: BTRS's weekly volatility (6%) has been stable over the past year.
About the Company
BTRS Holdings Inc. provides cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. It offers solutions that span credit decisioning and monitoring, online ordering, invoicing, cash application, and collections. These solutions integrate with various ecosystem players, including financial institutions, enterprise resource planning systems, and accounts payable software platforms, to help customers to transition from paper invoicing and check acceptance to electronic billing and payments.
BTRS Holdings Fundamentals Summary
|BTRS fundamental statistics|
Is BTRS overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|BTRS income statement (TTM)|
|Cost of Revenue||US$35.62m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
Nov 10, 2021
|Earnings per share (EPS)||-0.31|
|Net Profit Margin||-39.99%|
How did BTRS perform over the long term?See historical performance and comparison
Is BTRS Holdings undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: BTRS ($8.64) is trading below our estimate of fair value ($23.73)
Significantly Below Fair Value: BTRS is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: BTRS is unprofitable, so we can't compare its PE Ratio to the US Software industry average.
PE vs Market: BTRS 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 BTRS's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: BTRS is good value based on its PB Ratio (4.2x) compared to the US Software industry average (7.1x).
How is BTRS Holdings forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BTRS is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: BTRS is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: BTRS is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: BTRS's revenue (17% per year) is forecast to grow faster than the US market (9.9% per year).
High Growth Revenue: BTRS's revenue (17% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: BTRS is forecast to be unprofitable in 3 years.
How has BTRS Holdings performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BTRS is currently unprofitable.
Growing Profit Margin: BTRS is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: BTRS is unprofitable, and losses have increased over the past 5 years at a rate of 19.9% per year.
Accelerating Growth: Unable to compare BTRS's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: BTRS is unprofitable, making it difficult to compare its past year earnings growth to the Software industry (24.1%).
Return on Equity
High ROE: BTRS has a negative Return on Equity (-12.5%), as it is currently unprofitable.
How is BTRS Holdings's financial position?
Financial Position Analysis
Short Term Liabilities: BTRS's short term assets ($351.1M) exceed its short term liabilities ($66.1M).
Long Term Liabilities: BTRS's short term assets ($351.1M) exceed its long term liabilities ($35.7M).
Debt to Equity History and Analysis
Debt Level: BTRS is debt free.
Reducing Debt: BTRS had no debt 5 years ago.
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: BTRS has sufficient cash runway for more than 3 years based on its current free cash flow.
Forecast Cash Runway: Insufficient data to determine if BTRS has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.
What is BTRS Holdings's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate BTRS's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate BTRS's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if BTRS's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if BTRS's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of BTRS's dividend in 3 years as they are not forecast to pay a notable one for the US market.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Flint Lane (54 yo)
Mr. Flint A. Lane is Founder of BTRS Holdings Inc. (formerly known as Billtrust, Inc.) since 2001 and also serves as its Chairman. He has been Chief Executive Officer at BTRS Holdings Inc. since January 20...
CEO Compensation Analysis
Compensation vs Market: Flint's total compensation ($USD658.25K) is below average for companies of similar size in the US market ($USD3.49M).
Compensation vs Earnings: Flint's compensation has increased whilst the company is unprofitable.
Experienced Management: BTRS's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.
Experienced Board: BTRS's board of directors are not considered experienced ( 0.8 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: BTRS insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: BTRS only recently listed within the past 12 months.
BTRS Holdings Inc.'s employee growth, exchange listings and data sources
- Name: BTRS Holdings Inc.
- Ticker: BTRS
- Exchange: NasdaqGS
- Founded: 2001
- Industry: Application Software
- Sector: Software
- Market Cap: US$1.367b
- Shares outstanding: 158.24m
- Website: https://www.billtrust.com
Number of Employees
- BTRS Holdings Inc.
- 1009 Lenox Drive
- Suite 101
- New Jersey
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/27 23:05|
|End of Day Share Price||2021/10/27 00:00|
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.