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Imperva

Nasdaq:IMPV
Snowflake Description

Flawless balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IMPV
Nasdaq
$2B
Market Cap
  1. Home
  2. US
  3. Software
Company description

Imperva, Inc. engages in the development, market, sale, and support of cyber security solutions that protect business critical data and applications in the cloud or on premises worldwide. The last earnings update was 71 days ago. More info.


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IMPV Share Price and Events
7 Day Returns
0%
NasdaqGS:IMPV
2.3%
US Software
2.5%
US Market
1 Year Returns
25.8%
NasdaqGS:IMPV
15.3%
US Software
-7.7%
US Market
IMPV Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Imperva (IMPV) 0% 0.5% 0.5% 25.8% 3.1% 0.6%
US Software 2.3% 0.3% -1.4% 15.3% 92.9% 114.8%
US Market 2.5% 0.2% -6.4% -7.7% 37.9% 34%
1 Year Return vs Industry and Market
  • IMPV outperformed the Software industry which returned 15.3% over the past year.
  • IMPV outperformed the Market in United States of America which returned -7.7% over the past year.
Price Volatility
IMPV
Industry
5yr Volatility vs Market

IMPV Value

 Is Imperva undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Imperva to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Imperva.

NasdaqGS:IMPV Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:IMPV
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 7.3%
Software Unlevered Beta Simply Wall St/ S&P Global 1.15
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.148 (1 + (1- 21%) (0%))
1.148
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.15
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.148 * 7.27%)
11.08%

Discounted Cash Flow Calculation for NasdaqGS:IMPV using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Imperva is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqGS:IMPV DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (USD, Millions) 100.27 145.50 163.50 191.30 221.90
Source Analyst x8 Analyst x2 Analyst x1 Est @ 17%, capped from 20.21% Est @ 16%, capped from 20.21%
Present Value
Discounted (@ 11.08%)
90.27 117.92 119.29 125.65 131.22
Present value of next 5 years cash flows $584.35
NasdaqGS:IMPV DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= $221.90 × (1 + 2.73%) ÷ (11.08% – 2.73%)
$2,730.24
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $2,730.24 ÷ (1 + 11.08%)5
$1,614.48
NasdaqGS:IMPV Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $584.35 + $1,614.48
$2,198.83
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,198.83 / 35.44
$62.05
NasdaqGS:IMPV Discount to Share Price
Calculation Result
Value per share (USD) From above. $62.05
Current discount Discount to share price of $55.74
= -1 x ($55.74 - $62.05) / $62.05
10.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Imperva is available for.
Intrinsic value
10%
Share price is $55.74 vs Future cash flow value of $62.05
Current Discount Checks
For Imperva to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Imperva's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Imperva's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Imperva's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Imperva's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:IMPV PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in USD $-0.81
NasdaqGS:IMPV Share Price ** NasdaqGS (2019-01-09) in USD $55.74
United States of America Software Industry PE Ratio Median Figure of 74 Publicly-Listed Software Companies 44.11x
United States of America Market PE Ratio Median Figure of 3,018 Publicly-Listed Companies 16.85x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Imperva.

NasdaqGS:IMPV PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:IMPV Share Price ÷ EPS (both in USD)

= 55.74 ÷ -0.81

-68.58x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Imperva is loss making, we can't compare its value to the US Software industry average.
  • Imperva is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Imperva's expected growth come at a high price?
Raw Data
NasdaqGS:IMPV PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -68.58x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
59%per year
United States of America Software Industry PEG Ratio Median Figure of 59 Publicly-Listed Software Companies 3.18x
United States of America Market PEG Ratio Median Figure of 2,101 Publicly-Listed Companies 1.23x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Imperva, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Imperva's assets?
Raw Data
NasdaqGS:IMPV PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in USD $9.72
NasdaqGS:IMPV Share Price * NasdaqGS (2019-01-09) in USD $55.74
United States of America Software Industry PB Ratio Median Figure of 215 Publicly-Listed Software Companies 5.34x
United States of America Market PB Ratio Median Figure of 5,086 Publicly-Listed Companies 1.73x
NasdaqGS:IMPV PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:IMPV Share Price ÷ Book Value per Share (both in USD)

= 55.74 ÷ 9.72

5.74x

* Primary Listing of Imperva.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Imperva is overvalued based on assets compared to the US Software industry average.
X
Value checks
We assess Imperva's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Software industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Software industry average (and greater than 0)? (1 check)
  5. Imperva has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

IMPV Future Performance

 How is Imperva expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
59%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Imperva expected to grow at an attractive rate?
  • Imperva's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Imperva's earnings growth is expected to exceed the United States of America market average.
  • Imperva's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:IMPV Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:IMPV Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 59%
NasdaqGS:IMPV Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 10.2%
United States of America Software Industry Earnings Growth Rate Market Cap Weighted Average 21%
United States of America Software Industry Revenue Growth Rate Market Cap Weighted Average 11%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:IMPV Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:IMPV Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 498 177 1
2020-12-31 431 143 4 6
2019-12-31 392 108 -24 12
2018-12-31 353 80 -34 12
NasdaqGS:IMPV Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-09-30 352 86 -28
2018-06-30 344 80 -30
2018-03-31 334 71 -10
2017-12-31 322 67 23
2017-09-30 309 58 9
2017-06-30 294 43 -2
2017-03-31 277 35 -23
2016-12-31 264 22 -70
2016-09-30 259 22 -66
2016-06-30 254 23 -60
2016-03-31 249 23 -53
2015-12-31 234 24 -49

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Imperva's earnings are expected to grow significantly at over 20% yearly.
  • Imperva's revenue is expected to grow by 10.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:IMPV Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from Imperva Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:IMPV Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 0.09 0.09 0.09 1.00
2019-12-31 -0.59 -0.45 -0.77 4.00
2018-12-31 -0.97 -0.97 -0.97 1.00
NasdaqGS:IMPV Past Financials Data
Date (Data in USD Millions) EPS *
2018-09-30 -0.81
2018-06-30 -0.86
2018-03-31 -0.29
2017-12-31 0.68
2017-09-30 0.28
2017-06-30 -0.06
2017-03-31 -0.71
2016-12-31 -2.18
2016-09-30 -2.07
2016-06-30 -1.91
2016-03-31 -1.70
2015-12-31 -1.64

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Imperva is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Imperva's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Imperva has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

IMPV Past Performance

  How has Imperva performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Imperva's growth in the last year to its industry (Software).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Imperva does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Imperva's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Imperva's 1-year growth to the US Software industry average as it is not currently profitable.
Earnings and Revenue History
Imperva's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Imperva Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:IMPV Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 351.76 -28.14 214.29 72.18
2018-06-30 344.02 -29.56 215.15 69.08
2018-03-31 333.65 -10.00 210.75 65.16
2017-12-31 321.72 22.87 206.61 63.45
2017-09-30 309.04 9.41 200.29 63.01
2017-06-30 293.55 -1.96 199.20 62.79
2017-03-31 276.99 -23.19 203.66 63.83
2016-12-31 264.46 -70.28 207.63 62.40
2016-09-30 258.77 -66.24 208.47 61.29
2016-06-30 253.71 -60.25 200.88 59.18
2016-03-31 249.31 -52.86 193.36 56.72
2015-12-31 234.30 -48.88 179.73 53.38
2015-09-30 212.96 -55.60 169.63 49.99
2015-06-30 192.29 -63.47 162.26 47.26
2015-03-31 177.25 -61.58 150.44 45.77
2014-12-31 164.01 -58.96 140.88 43.05
2014-09-30 155.37 -55.90 136.26 39.87
2014-06-30 147.79 -46.05 125.25 36.13
2014-03-31 140.69 -36.53 114.25 31.16
2013-12-31 137.76 -25.18 105.94 27.56
2013-09-30 126.85 -16.47 90.44 25.21
2013-06-30 118.09 -14.56 82.93 23.64
2013-03-31 111.30 -10.18 75.72 21.92
2012-12-31 104.24 -7.39 68.88 20.56
2012-09-30 95.73 -8.16 63.41 19.81
2012-06-30 89.13 -8.99 59.56 19.27
2012-03-31 83.40 -10.33 57.28 18.66

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Imperva has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Imperva has efficiently used its assets last year compared to the US Software industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Imperva improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Imperva's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Software industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Imperva has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

IMPV Health

 How is Imperva's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Imperva's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Imperva is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Imperva's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Imperva's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Imperva has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Imperva Company Filings, last reported 3 months ago.

NasdaqGS:IMPV Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 341.62 0.00 304.42
2018-06-30 328.44 0.00 394.47
2018-03-31 338.26 0.00 378.81
2017-12-31 315.12 0.00 359.53
2017-09-30 298.75 0.00 343.20
2017-06-30 287.12 0.00 319.89
2017-03-31 272.94 0.00 312.81
2016-12-31 231.96 0.00 261.09
2016-09-30 224.47 0.00 259.03
2016-06-30 223.30 0.00 255.23
2016-03-31 231.17 0.00 258.75
2015-12-31 240.20 0.00 264.81
2015-09-30 227.43 0.00 253.76
2015-06-30 221.08 0.00 244.69
2015-03-31 217.08 0.00 242.74
2014-12-31 97.24 0.00 109.72
2014-09-30 93.68 0.00 101.20
2014-06-30 96.73 0.00 99.48
2014-03-31 101.27 0.00 105.91
2013-12-31 86.22 0.00 115.09
2013-09-30 82.60 0.00 106.83
2013-06-30 81.42 0.00 110.38
2013-03-31 81.79 0.00 109.88
2012-12-31 84.23 0.00 102.33
2012-09-30 79.60 0.00 101.68
2012-06-30 77.84 0.00 100.26
2012-03-31 77.82 0.00 100.55
  • Imperva has no debt.
  • Imperva has not taken on any debt in the past 5 years.
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.

  • Whilst loss making Imperva has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Imperva has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -27.3% per year.
X
Financial health checks
We assess Imperva's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Imperva has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

IMPV Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Imperva dividends. Estimated to be 0% next year.
If you bought $2,000 of Imperva shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Imperva's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Imperva's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:IMPV Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
United States of America Software Industry Average Dividend Yield Market Cap Weighted Average of 24 Stocks 1.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1986 Stocks 2.7%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.9%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:IMPV Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00
2018-12-31 0.00 1.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Imperva has not reported any payouts.
  • Unable to verify if Imperva's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Imperva's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Imperva has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Imperva's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess Imperva's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Imperva afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Imperva has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

IMPV Management

 What is the CEO of Imperva's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Chris Hylen
COMPENSATION $5,094,625
AGE 57
TENURE AS CEO 1.4 years
CEO Bio

Mr. Christopher S. Hylen, also known as Chris, has been Chief Executive Officer, President and Director at Imperva, Inc. since August 15, 2017. Mr. Hylen served as Chief Executive Officer and President at GETGO, Inc. Mr. Hylen served as Chief Executive Officer of Intuit Solutions. He served as a Senior Vice President and General Manager of Mobility Apps at Citrix Systems, Inc. from July 2013 to February 15, 2017. He served as Senior Vice President of American Express and also served as its Vice President of Business Development from 1995 to 1999. Mr. Hylen served as the Chief Marketing Officer of Business.com. He served various leadership positions at Business.com from 1999 to 2002. Prior to joining Citrix in 2013, he held various leadership positions at Intuit from September 2006 to July 2013, including Senior Vice President and General Manager of Payment Solutions, Vice President of Small Business Marketing and Vice President of Growth. Mr. Hylen served as a member of the Board of the ADT Corporation from January 2015 until it was acquired by Apollo Global Management in February 2016. Mr. Hylen has 20 years of small business payments experience. He served as Chief Marketing Officer of ADP from 2001 to 2005. He served a four-year term as Vice President of Sales, Product Development and Marketing for Intuit's Payment Solutions division. He tripled the size of Intuit s payments business and grew customer acquisition by over ten percent year over year. He successfully led the Payment Solutions division by driving the development of innovative payments products and services including the launch of Intuit s first mobile credit card processing solution. He has more than 20 years of experience as a senior leader building successful, innovative growth businesses. His experience and passion lie in growing emerging payments businesses. He served executive roles at Automated Data Processing, ComData and American Express, among others. Within these companies, he primarily drove revenue growth through the introduction of new and innovative products including the creation of American Express's first Internet group and online products. He served as an Independent Director of The ADT Corporation since January 9, 2015 until May 2, 2016. He is a leader in mobile workspaces, providing virtualization, mobility management, networking and cloud services to enable new ways to work better. Mr. Hylen served as a Member of the Board of Advisors at MarketShare Partners LLC. He holds a BS in Engineering from Widener University and a Master's Degree in Business Administration from Harvard Business School of Management..

CEO Compensation
  • Insufficient data for Chris to compare compensation growth.
  • Chris's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Imperva management team in years:

1.3
Average Tenure
51.5
Average Age
  • The average tenure for the Imperva management team is less than 2 years, this suggests a new team.
Management Team

Chris Hylen

TITLE
President
COMPENSATION
$5M
AGE
57
TENURE
1.4 yrs

Trâm Phi

TITLE
Chief Legal Officer & Chief of Staff
COMPENSATION
$2M
AGE
47

Mike Burns

TITLE
Chief Financial Officer & Treasurer
AGE
52
TENURE
1 yrs

Aharon Strosberg

TITLE
Vice President of Operations
TENURE
11.3 yrs

Terry Ray

TITLE
Chief Technology Officer
TENURE
1.5 yrs

Sunil Shah

TITLE
Vice President of Investor Relations

Shu White

TITLE
General Council & Assistant Secretary

Rachel Mann

TITLE
Vice President of Communications
TENURE
1.3 yrs

Dave Woodcock

TITLE
Senior Vice President of Worldwide Sales
TENURE
0.8 yrs

David Gee

TITLE
Chief Marketing Officer
AGE
51
TENURE
1 yrs
Board of Directors Tenure

Average tenure and age of the Imperva board of directors in years:

2.4
Average Tenure
64.5
Average Age
  • The average tenure for the Imperva board of directors is less than 3 years, this suggests a new board.
Board of Directors

Allan Tessler

TITLE
Chairman of the Board
COMPENSATION
$252K
AGE
81
TENURE
0.9 yrs

Chris Hylen

TITLE
President
COMPENSATION
$5M
AGE
57
TENURE
1.4 yrs

James Tolonen

TITLE
Director
COMPENSATION
$254K
AGE
68
TENURE
6.5 yrs

Roger Sippl

TITLE
Director
COMPENSATION
$242K
AGE
63
TENURE
2.1 yrs

Albert Pimentel

TITLE
Director
COMPENSATION
$238K
AGE
63
TENURE
8.6 yrs

Randy Spratt

TITLE
Director
COMPENSATION
$242K
AGE
66
TENURE
2.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
13. Aug 18 Sell Elliott Management Corporation Company 31. Jul 18 13. Aug 18 -210,797 $47.06 $-9,762,741
22. Feb 18 Sell Michael Mooney Individual 20. Feb 18 20. Feb 18 -15,079 $47.04 $-709,316
22. Feb 18 Sell Anthony Bettencourt Individual 20. Feb 18 20. Feb 18 -30,725 $46.80 $-1,437,930
X
Management checks
We assess Imperva's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Imperva has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

IMPV News

External News
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Simply Wall St News

What Is Imperva Inc's (NASDAQ:IMPV) Share Price Doing?

received a lot of attention from a substantial price movement on the NasdaqGS over the last few months, increasing to $57 at one point, and dropping to the lows of $45.4. … A question to answer is whether Imperva's current trading price of $46.35 reflective of the actual value of the? … Let’s take a look at Imperva’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Estimating The Intrinsic Value Of Imperva Inc (NASDAQ:IMPV)

I am going to run you through how I calculated the intrinsic value of Imperva Inc (NASDAQ:IMPV). … by taking the foreast future cash flows of the company and discounting them back to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

Simply Wall St -

Does Zero-Debt Make Imperva Inc (NASDAQ:IMPV) A Financially Strong Company?

Zero-debt can alleviate some risk associated with the company meeting debt obligations, but this doesn’t automatically mean IMPV has outstanding financial strength. … Check out our latest analysis for Imperva Is financial flexibility worth the lower cost of capital? … Shareholders should understand why the company isn't opting for cheaper cost of capital to fund future growth, and whether the company needs financial flexibility at this point in time.

Simply Wall St -

Will Imperva Inc (IMPV) Continue To Underperform Its Industry?

This means IMPV’s returns actually do not cover its own cost of equity, with a discrepancy of -6.04%. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity NasdaqGS:IMPV Last Perf Nov 30th 17 Basically, profit margin measures how much of revenue trickles down into earnings which illustrates how efficient IMPV is with its cost management. … Although, its appropriate level of leverage means investors can be more confident in the sustainability of IMPV’s return with a possible increase should the company decide to increase its debt levels.

Simply Wall St -

Is Imperva Inc (IMPV) A Tech Industry Laggard Or Leader?

Whether it’s the next big thing in tech such as artificial intelligence and robotics, or an alliance with a partner in another industry, for example healthcare or manufacturing, tech companies have plenty of opportunities for their companies to thrive. … Tech analysts are forecasting for the entire software tech industry, a positive double-digit growth of 13.84% in the upcoming year , and an enormous growth of 55.17% over the next couple of years. … NasdaqGS:IMPV PE PEG Gauge Nov 8th 17 The software tech sector's PE is currently hovering around 43x, above the broader US stock market PE of 22x.

Simply Wall St -

IMPV Company Info

Map
Description

Imperva, Inc. engages in the development, market, sale, and support of cyber security solutions that protect business critical data and applications in the cloud or on premises worldwide. The company’s SecureSphere product line provides database, file, and Web application security in various data centers, including on-premises data centers, as well as in private, public, and hybrid cloud computing environments. Its SecureSphere product also secures business-critical applications and data; and provides an accelerated route to address regulatory compliance and establishes a repeatable process for data risk management. The company’s Incapsula service delivers cloud-based Website security, distributed denial of service protection, and load balancing and failover; and is designed to deploy and accessible to businesses that need to optimize the security, speed, and availability of their Websites. Its products also include ThreatRadar that provides reputation and crowdsourced security intelligence services; CounterBreach, which protects enterprise data from theft and loss due to compromised, malicious, and careless users; and Imperva Camouflage Data Masking that creates functional data for development, testing, and training by disguising sensitive information while maintaining the characteristics of the original data. In addition, the company provides ongoing product support services for hardware and software; and professional and training services. Imperva, Inc. offers its products and services to banks, retailers, insurers, technology and telecommunication companies, and hospitals; and the United States and other national, state, and local government agencies through a network of distributors and resellers. The company was founded in 2002 and is headquartered in Redwood Shores, California.

Details
Name: Imperva, Inc.
IMPV
Exchange: NasdaqGS
Founded: 2002
$1,973,118,017
35,436,746
Website: http://www.imperva.com
Address: Imperva, Inc.
3400 Bridge Parkway,
Suite 200,
Redwood Shores,
California, 94065,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS IMPV Common Stock Nasdaq Global Select US USD 09. Nov 2011
DB 45I Common Stock Deutsche Boerse AG DE EUR 09. Nov 2011
Number of employees
Current staff
Staff numbers
1,020
Imperva employees.
Industry
Systems Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/01/15 00:31
End of day share price update: 2019/01/09 00:00
Last estimates confirmation: 2018/12/17
Last earnings filing: 2018/11/05
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.