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BTRS

BTRS HoldingsNasdaqGS:BTRS Stock Report

Market Cap

US$1.4b

7D

-11.9%

1Y

n/a

Updated

27 Oct, 2021

Data

Company Financials +
BTRS fundamental analysis
Snowflake Score
Valuation3/6
Future Growth1/6
Past Performance0/6
Financial Health5/6
Dividends0/6

BTRS Overview

BTRS Holdings Inc. provides cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce.

BTRS Holdings Competitors

Bill.com Holdings

NYSE:BILL

US$29.3b

Coupa Software

NasdaqGS:COUP

US$17.9b

Avalara

NYSE:AVLR

US$15.4b

AvidXchange Holdings

NasdaqGS:AVDX

US$4.2b

Price History & Performance

Summary of all time highs, changes and price drops for BTRS Holdings
Historical stock prices
Current Share PriceUS$8.64
52 Week HighUS$8.63
52 Week LowUS$19.76
Beta0
1 Month Change-18.87%
3 Month Change-27.58%
1 Year Changen/a
3 Year Changen/a
5 Year Changen/a
Change since IPO-48.66%

Recent News & Updates

Oct 15

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.

Aug 25
Is BTRS Holdings Inc. (NASDAQ:BTRS) Trading At A 50% Discount?

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...

Shareholder Returns

BTRSUS SoftwareUS Market
7D-11.9%0.9%0.9%
1Yn/a39.0%33.4%

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.

Price Volatility

Is BTRS's price volatile compared to industry and market?
BTRS volatility
BTRS Beta0
Industry Beta0.97
Market Beta1

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

FoundedEmployeesCEOWebsite
2001566Flint Lanehttps://www.billtrust.com

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

How do BTRS Holdings's earnings and revenue compare to its market cap?
BTRS fundamental statistics
Market CapUS$1.37b
Earnings (TTM)-US$49.23m
Revenue (TTM)US$123.11m

11.1x

P/S Ratio

-27.8x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BTRS income statement (TTM)
RevenueUS$123.11m
Cost of RevenueUS$35.62m
Gross ProfitUS$87.49m
ExpensesUS$136.71m
Earnings-US$49.23m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Nov 10, 2021

Earnings per share (EPS)-0.31
Gross Margin71.07%
Net Profit Margin-39.99%
Debt/Equity Ratio0%

How did BTRS perform over the long term?

See historical performance and comparison

Valuation

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

>50%

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).


Future Growth

How is BTRS Holdings forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

17.1%

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.


Past Performance

How has BTRS Holdings performed over the past 5 years?

-19.9%

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.


Financial Health

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.


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: 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.


Dividend

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.


Next Steps

Management

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

0.8yrs

Average management tenure


CEO

Flint Lane (54 yo)

0.75

Tenure

US$658,250

Compensation

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.


Leadership Team

Experienced Management: BTRS's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.


Board Members

Experienced Board: BTRS's board of directors are not considered experienced ( 0.8 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: BTRS insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

BTRS Holdings Inc.'s employee growth, exchange listings and data sources


Key Information

  • 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


Location

  • BTRS Holdings Inc.
  • 1009 Lenox Drive
  • Suite 101
  • Lawrenceville
  • New Jersey
  • 8648
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/27 23:05
End of Day Share Price2021/10/27 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.