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Mitek Systems

Nasdaq:MITK
Snowflake Description

Excellent balance sheet with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MITK
Nasdaq
$456M
Market Cap
  1. Home
  2. US
  3. Software
Company description

Mitek Systems, Inc. develops, markets, and sells mobile image capture and identity verification software solutions in the United States, Europe, Latin America, and internationally. The last earnings update was 74 days ago. More info.


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MITK Share Price and Events
7 Day Returns
-0.6%
NasdaqCM:MITK
0.7%
US Software
-0.1%
US Market
1 Year Returns
59.2%
NasdaqCM:MITK
28.7%
US Software
7.6%
US Market
MITK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Mitek Systems (MITK) -0.6% 0.2% 5.1% 59.2% 82.9% 265.8%
US Software 0.7% 3.6% 15.9% 28.7% 115.8% 157.2%
US Market -0.1% 3.7% 10.2% 7.6% 38.1% 46.4%
1 Year Return vs Industry and Market
  • MITK outperformed the Software industry which returned 28.7% over the past year.
  • MITK outperformed the Market in United States of America which returned 7.6% over the past year.
Price Volatility
MITK
Industry
5yr Volatility vs Market
Related Companies

MITK Value

 Is Mitek Systems 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 Mitek Systems 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 Mitek Systems.

NasdaqCM:MITK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.3%
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 NasdaqCM:MITK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Software Unlevered Beta Simply Wall St/ S&P Global 1.14
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.141 (1 + (1- 21%) (0.13%))
1.095
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.09
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.095 * 5.96%)
9.26%

Discounted Cash Flow Calculation for NasdaqCM:MITK using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Mitek Systems is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqCM:MITK DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.26%)
2019 14.00 Analyst x1 12.81
2020 19.00 Analyst x1 15.92
2021 22.69 Est @ 19.43% 17.40
2022 25.97 Est @ 14.42% 18.22
2023 28.80 Est @ 10.92% 18.50
2024 31.24 Est @ 8.46% 18.36
2025 33.34 Est @ 6.74% 17.94
2026 35.19 Est @ 5.54% 17.33
2027 36.84 Est @ 4.7% 16.61
2028 38.35 Est @ 4.11% 15.83
Present value of next 10 years cash flows $168.93
NasdaqCM:MITK DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $38.35 × (1 + 2.73%) ÷ (9.26% – 2.73%)
$603.74
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $603.74 ÷ (1 + 9.26%)10
$249.11
NasdaqCM:MITK Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $168.93 + $249.11
$418.04
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $418.04 / 38.73
$10.79
NasdaqCM:MITK Discount to Share Price
Calculation Result
Value per share (USD) From above. $10.79
Current discount Discount to share price of $11.78
= -1 x ($11.78 - $10.79) / $10.79
-9.1%

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

  • The current share price of Mitek Systems is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Mitek Systems's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Mitek Systems's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqCM:MITK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-0.25
NasdaqCM:MITK Share Price ** NasdaqCM (2019-04-23) in USD $11.78
United States of America Software Industry PE Ratio Median Figure of 83 Publicly-Listed Software Companies 55.4x
United States of America Market PE Ratio Median Figure of 3,080 Publicly-Listed Companies 18.03x

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

** Primary Listing of Mitek Systems.

NasdaqCM:MITK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqCM:MITK Share Price ÷ EPS (both in USD)

= 11.78 ÷ -0.25

-46.83x

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

  • Mitek Systems is loss making, we can't compare its value to the US Software industry average.
  • Mitek Systems 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 Mitek Systems's expected growth come at a high price?
Raw Data
NasdaqCM:MITK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -46.83x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
125%per year
United States of America Software Industry PEG Ratio Median Figure of 66 Publicly-Listed Software Companies 3.31x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.55x

*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 Mitek Systems, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Mitek Systems's assets?
Raw Data
NasdaqCM:MITK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $2.47
NasdaqCM:MITK Share Price * NasdaqCM (2019-04-23) in USD $11.78
United States of America Software Industry PB Ratio Median Figure of 219 Publicly-Listed Software Companies 5.67x
United States of America Market PB Ratio Median Figure of 5,185 Publicly-Listed Companies 1.92x
NasdaqCM:MITK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqCM:MITK Share Price ÷ Book Value per Share (both in USD)

= 11.78 ÷ 2.47

4.76x

* Primary Listing of Mitek Systems.

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

  • Mitek Systems is good value based on assets compared to the US Software industry average.
X
Value checks
We assess Mitek Systems'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. Mitek Systems has a total score of 1/6, 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.

MITK Future Performance

 How is Mitek Systems expected to perform in the next 1 to 3 years based on estimates from 6 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
125%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Mitek Systems expected to grow at an attractive rate?
  • Mitek Systems's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Mitek Systems's earnings growth is expected to exceed the United States of America market average.
  • Mitek Systems's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqCM:MITK Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqCM:MITK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 125%
NasdaqCM:MITK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 22.9%
United States of America Software Industry Earnings Growth Rate Market Cap Weighted Average 15.5%
United States of America Software Industry Revenue Growth Rate Market Cap Weighted Average 10.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.5%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*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
NasdaqCM:MITK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqCM:MITK Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-09-30 104 2 5
2019-09-30 85 -4 6
NasdaqCM:MITK Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 69 5 -9
2018-09-30 64 6 -12
2018-06-30 55 7 3
2018-03-31 51 10 7
2017-12-31 48 14 9
2017-09-30 45 10 14
2017-06-30 42 10 2
2017-03-31 39 7 2
2016-12-31 37 6 2
2016-09-30 35 8 2
2016-06-30 33 7 2
2016-03-31 30 9 2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Mitek Systems's earnings are expected to grow significantly at over 20% yearly.
  • Mitek Systems's revenue is expected to grow significantly at over 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
NasdaqCM:MITK 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 6 Analyst Estimates (S&P Global) See Below

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

NasdaqCM:MITK Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-09-30 0.06 0.11 0.01 3.00
2019-09-30 -0.10 -0.04 -0.16 3.00
NasdaqCM:MITK Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -0.25
2018-09-30 -0.33
2018-06-30 0.09
2018-03-31 0.19
2017-12-31 0.27
2017-09-30 0.43
2017-06-30 0.07
2017-03-31 0.07
2016-12-31 0.05
2016-09-30 0.06
2016-06-30 0.06
2016-03-31 0.07

*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.
  • Unable to establish if Mitek Systems will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Mitek Systems'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.
Mitek Systems has a total score of 5/6, 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.

MITK Past Performance

  How has Mitek Systems 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 Mitek Systems'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.
  • Mitek Systems does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Mitek Systems's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Mitek Systems's 1-year growth to the US Software industry average as it is not currently profitable.
Earnings and Revenue History
Mitek Systems'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 Mitek Systems Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:MITK Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 69.11 -9.26 43.33 16.88
2018-09-30 63.56 -11.81 38.77 15.67
2018-06-30 55.43 3.19 32.81 13.87
2018-03-31 51.12 6.59 29.88 12.36
2017-12-31 48.26 8.96 27.21 11.26
2017-09-30 45.39 14.09 24.99 10.43
2017-06-30 42.16 2.19 23.60 9.84
2017-03-31 39.46 2.31 22.67 9.13
2016-12-31 36.57 1.67 21.04 8.54
2016-09-30 34.70 1.96 19.51 7.79
2016-06-30 32.90 1.95 18.34 7.14
2016-03-31 30.23 2.13 16.59 6.55
2015-12-31 27.38 2.06 15.01 6.13
2015-09-30 25.37 2.53 14.06 5.58
2015-06-30 23.05 1.57 14.03 5.17
2015-03-31 21.27 -0.98 14.77 5.41
2014-12-31 20.08 -3.68 16.15 5.65
2014-09-30 19.15 -5.29 16.39 6.02
2014-06-30 17.99 -6.76 16.29 6.52
2014-03-31 17.22 -7.18 15.67 6.91
2013-12-31 15.96 -7.38 14.62 6.92
2013-09-30 14.80 -7.28 13.71 6.79
2013-06-30 11.64 -8.82 12.31 6.66
2013-03-31 10.92 -8.77 11.52 6.80
2012-12-31 8.88 -9.23 9.96 6.89
2012-09-30 9.09 -7.84 9.05 6.66
2012-06-30 10.91 -5.05 8.70 6.05

*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 Mitek Systems has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Mitek Systems 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 Mitek Systems 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 Mitek Systems'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.
Mitek Systems 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.

MITK Health

 How is Mitek Systems'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 Mitek Systems's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Mitek Systems is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Mitek Systems's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Mitek Systems'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.
  • Debt is covered by short term assets, assets are 61.8x debt.
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 Mitek Systems Company Filings, last reported 3 months ago.

NasdaqCM:MITK Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 95.57 0.60 19.69
2018-09-30 95.39 0.80 17.48
2018-06-30 94.22 0.00 18.01
2018-03-31 73.72 0.00 44.38
2017-12-31 72.40 0.00 38.34
2017-09-30 61.41 0.00 42.57
2017-06-30 46.14 0.00 38.30
2017-03-31 42.81 0.00 36.01
2016-12-31 39.94 0.00 34.53
2016-09-30 39.49 0.00 33.87
2016-06-30 36.98 0.00 24.92
2016-03-31 33.65 0.00 28.16
2015-12-31 31.37 0.00 25.46
2015-09-30 30.43 0.00 26.67
2015-06-30 28.16 0.00 23.95
2015-03-31 26.28 0.00 25.71
2014-12-31 24.91 0.00 26.94
2014-09-30 23.94 0.00 24.04
2014-06-30 23.16 0.00 24.73
2014-03-31 23.88 0.00 26.24
2013-12-31 25.13 0.00 23.36
2013-09-30 25.73 0.00 29.03
2013-06-30 24.42 0.00 29.46
2013-03-31 11.91 0.00 14.89
2012-12-31 12.90 0.00 14.26
2012-09-30 13.56 0.00 12.52
2012-06-30 15.84 0.00 15.04
  • Mitek Systems's level of debt (0.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 0.6% today).
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 Mitek Systems has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Mitek Systems has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by % per year.
X
Financial health checks
We assess Mitek Systems'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. Mitek Systems has a total score of 5/6, 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.

MITK Dividends

 What is Mitek Systems'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 Mitek Systems dividends.
If you bought $2,000 of Mitek Systems 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 Mitek Systems's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Mitek Systems'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
NasdaqCM:MITK 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 6 Analyst Estimates (S&P Global) See Below
United States of America Software Industry Average Dividend Yield Market Cap Weighted Average of 23 Stocks 1.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

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

NasdaqCM:MITK Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-09-30
2019-09-30

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

  • Unable to perform a dividend volatility check as Mitek Systems has not reported any payouts.
  • Unable to verify if Mitek Systems's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Mitek Systems's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Mitek Systems has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Mitek Systems's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Mitek Systems afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Mitek Systems 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.

MITK Management

 What is the CEO of Mitek Systems'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
Max Carnecchia
AGE 55
TENURE AS CEO 0.4 years
CEO Bio

Mr. Scipio Maximus Carnecchia, also known as Max, has been Chief Executive Officer and Director of Mitek Systems Inc., since November 06, 2018. Mr. Carnecchia served as the Chief Executive Officer of Illuminate Education, Inc. Prior to Illuminate Education, Mr. Carnecchia served as the Chief Executive Officer of BIOVIA-Dassault Systémes. Mr. Carnecchia served as Chief Executive Officer and President of Accelrys Inc. since June 15, 2009. Mr. Carnecchia served as the Chief Executive Officer and President of Accelrys Software Inc. He served as President of Autonomy Interwoven Inc. since September 2006 and Interim President since March 6, 2006 and served as Senior Vice President of Worldwide Sales from July 2003 to March 6, 2006. He has over 20 years of technology leadership expertise - with a focus on sales, technical support, professional services and the development and delivery of worldwide training programs - to the benefit of First To File’s customers, shareholders and executive team. He joined Interwoven in 2001 as Vice President of Alliances and served as Senior Vice President of Worldwide Sales from July 2003 to March 6, 2003 where he oversaw Interwoven’s sales organizations in the Americas, Asia Pacific (APAC) and Europe, the Middle East and Africa (EMEA). Mr. Carnecchia served as an Interim President at Interwoven Inc., since March 6, 2006 and President since September 2006. He served as Vice President of Global Sales at Xoriant Corporation, Vice President of Worldwide Field Operations of SmartDB Corporation and as Vice President of Sales for Group 1 Software. He has held management positions at IBM, Intel and Group 1 Software. He has been a Director of Accelrys Inc., since June 15, 2009 and Unchained Labs Inc. since October 24, 2017. Mr. Carnecchia has been a Director at DHI Group, Inc. since February 28, 2019. He served as a Member of Advisory Board at First To File, Inc. (alternate name, FTF Technologies Inc.). He served as an Independent Director of Guidance Software, Inc. form May, 2015 to September 14, 2017. He served as a Director of Agilysys Inc. since November 20, 2013 until September 23, 2015. He served as a Director of Accelrys Software Inc. Mr. Carnecchia holds a Bachelor of Engineering in Electrical Engineering and Computer Science from The Stevens Institute of Technology.

CEO Compensation
  • Insufficient data for Max to compare compensation growth.
  • Insufficient data for Max to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Mitek Systems management team in years:

2.5
Average Tenure
50.5
Average Age
  • The tenure for the Mitek Systems management team is about average.
Management Team

Jeff Davison

TITLE
Chief Financial Officer
COMPENSATION
$626K
AGE
53
TENURE
1.8 yrs

Steve Ritter

TITLE
Chief Technology Officer
COMPENSATION
$1M
AGE
48
TENURE
3.2 yrs

Max Carnecchia

TITLE
CEO & Director
AGE
55
TENURE
0.4 yrs

Todd Kehrli

TITLE
Investor Contacts

Jason Gray

TITLE
Chief Legal Officer
COMPENSATION
$720K
AGE
47
TENURE
3.1 yrs
Board of Directors Tenure

Average tenure and age of the Mitek Systems board of directors in years:

4.5
Average Tenure
60.5
Average Age
  • The tenure for the Mitek Systems board of directors is about average.
Board of Directors

Bruce Hansen

TITLE
Chairman of the Board
COMPENSATION
$1M
AGE
58

Max Carnecchia

TITLE
CEO & Director
AGE
55

Pete Hart

TITLE
Independent Director
COMPENSATION
$155K
AGE
78

Jim Hale

TITLE
Independent Director
COMPENSATION
$165K
AGE
66

Bill Aulet

TITLE
Director
COMPENSATION
$155K
AGE
60

John Major

TITLE
Member of Advisory Board
AGE
72
TENURE
10.3 yrs

Jane Thompson

TITLE
Director
COMPENSATION
$55K
AGE
66

Victor Nichols

TITLE
Member of Advisory Board
AGE
61
TENURE
4.5 yrs

Ken Denman

TITLE
Director
COMPENSATION
$155K
AGE
59

Donna Wells

TITLE
Member of Advisory Board
AGE
56
TENURE
1.5 yrs
Who owns this company?
Recent Insider Trading
  • Mitek Systems insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
13. Feb 19 Sell Stephen Ritter Individual 12. Feb 19 12. Feb 19 -11,377 $11.17 $-127,081
08. Jan 19 Sell James DeBello Individual 03. Jan 19 03. Jan 19 -29,550 $11.12 $-328,596
20. Nov 18 Sell Kalle Marsal Individual 16. Nov 18 19. Nov 18 -10,639 $9.41 $-100,097
20. Nov 18 Sell James DeBello Individual 16. Nov 18 19. Nov 18 -42,308 $9.41 $-398,071
20. Nov 18 Sell Stephen Ritter Individual 16. Nov 18 19. Nov 18 -12,198 $9.41 $-114,752
20. Nov 18 Sell Michael Diamond Individual 16. Nov 18 19. Nov 18 -12,102 $9.41 $-113,866
20. Nov 18 Sell Jason Gray Individual 16. Nov 18 19. Nov 18 -2,925 $9.41 $-27,509
20. Nov 18 Sell Jeffrey Davison Individual 16. Nov 18 16. Nov 18 -611 $9.40 $-5,743
05. Sep 18 Buy James Hale Individual 31. Aug 18 31. Aug 18 20,000 $7.17 $143,482
25. Jun 18 Sell Jeffrey Davison Individual 22. Jun 18 22. Jun 18 -13,094 $9.30 $-121,774
11. Jun 18 Sell Stephen Ritter Individual 08. Jun 18 08. Jun 18 -8,977 $8.83 $-79,222
02. May 18 Sell Sarah Clark Individual 01. May 18 01. May 18 -2,411 $7.75 $-18,685
01. May 18 Sell Jason Gray Individual 27. Apr 18 27. Apr 18 -7,452 $7.90 $-58,871
X
Management checks
We assess Mitek Systems'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. Mitek Systems 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.

MITK News

Simply Wall St News

Why Mitek Systems Inc (NASDAQ:MITK) May Not Be As Efficient As Its Industry

This analysis is intended to introduce important early concepts to people who are starting to invest. … and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … See our latest analysis for Mitek Systems

Simply Wall St -

Should You Be Concerned About Mitek Systems Inc's (NASDAQ:MITK) Earnings Growth?

Investors with a long-term horizong may find it valuable to assess Mitek Systems Inc's (NASDAQ:MITK) earnings trend over time and against its industry benchmark as opposed to simply looking at a sincle earnings announcement at one point in time. … Below is my commentary, albiet very simple and high-level, on how Mitek Systems is currently performing. … View our latest analysis for Mitek Systems?

Simply Wall St -

What Does Mitek Systems Inc's (NASDAQ:MITK) Ownership Structure Look Like?

In this analysis, my focus will be on developing a perspective on Mitek Systems Inc’s (NASDAQ:MITK) latest ownership structure, a less discussed, but important factor. … The effect of an active institutional investor with a similar ownership as a passive pension-fund can be vastly different on a company's corporate governance and accountability to shareholders. … View our latest analysis for Mitek Systems

Simply Wall St -

Should You Buy Mitek Systems Inc (NASDAQ:MITK) Now?

As a stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … However, could the stock still be trading at a relatively cheap price. … Today I will analyse the most recent data on Mitek Systems’s outlook and valuation to see if the opportunity still exists

Simply Wall St -

What Makes Mitek Systems Inc (NASDAQ:MITK) An Attractive Investment?

Attractive stocks have exceptional fundamentals. … In the case of Mitek Systems Inc (NASDAQ:MITK), there's. … Below is a brief commentary on these key aspects.

Simply Wall St -

Why Mitek Systems Inc (NASDAQ:MITK) Delivered An Inferior ROE Compared To The Industry

Check out our latest analysis for Mitek Systems What you must know about ROE Firstly, Return on Equity, or ROE, is simply the percentage of last years’ earning against the book value of shareholders’ equity. … Currently, Mitek Systems has no debt which means its returns are driven purely by equity capital. … Although, its appropriate level of leverage means investors can be more confident in the sustainability of Mitek Systems’s return with a possible increase should the company decide to increase its debt levels.

Simply Wall St -

Calculating The Intrinsic Value Of Mitek Systems Inc (NASDAQ:MITK)

In this article I am going to calculate the intrinsic value of Mitek Systems Inc (NASDAQ:MITK) by taking the expected future cash flows and discounting them to today's value. … The sum of these cash flows is then discounted to today's value. … NasdaqCM:MITK Intrinsic Value Apr 12th 18 Important assumptions I'd like to point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

Why Mitek Systems Inc (NASDAQ:MITK) Has Zero-Debt On Its Balance Sheet

Zero-debt can alleviate some risk associated with the company meeting debt obligations, but this doesn’t automatically mean MITK has outstanding financial strength. … See our latest analysis for Mitek Systems Is MITK growing fast enough to value financial flexibility over lower cost of capital? … MITK’s absence of debt on its balance sheet may be due to lack of access to cheaper capital, or it may simply believe low cost is not worth sacrificing financial flexibility.

Simply Wall St -

Is Mitek Systems Inc (MITK) Worth $8.75 Based On Its Intrinsic Value?

5-year cash flow estimate 2017 2018 2019 2020 2021 Levered FCF (USD, Millions) $10.00 $12.00 $14.16 $16.57 $19.22 Source Analyst x1 Analyst x1 Extrapolated @ (18%, capped from 29.91%) Extrapolated @ (17%, capped from 29.91%) Extrapolated @ (16%, capped from 29.91%) Present Value Discounted @ 9.63% $9.12 $9.98 $10.75 $11.47 $12.13 Present Value of 5-year Cash Flow (PVCF)= $53 After calculating the present value of future cash flows in the intial 5-year period we need to calculate the Terminal Value, which accounts for all the future cash flows beyond the first stage. … Terminal Value (TV) = FCF2021 × (1 + g) ÷ (r – g) = $19 × (1 + 2.5%) ÷ (9.6% – 2.5%) = $275 Present Value of Terminal Value (PVTV) = TV / (1 + r)5 = $275 / ( 1 + 9.6%)5 = $174 The total value is the sum of cash flows for the next five years and the discounted terminal value, which results in the Total Equity Value, which in this case is $227. … NasdaqCM:MITK Intrinsic Value Nov 8th 17 The assumptions I'd like to point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

MITK Company Info

Description

Mitek Systems, Inc. develops, markets, and sells mobile image capture and identity verification software solutions in the United States, Europe, Latin America, and internationally. The company’s solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences, fraud detection and reduction, and compliant transactions. It offers Mobile Deposit that allows individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; and Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile Websites, and desktop applications to verify people’s identities at the point of onboarding through Web or mobile device. The company also provides Mobile Fill, a mobile identity capture solution to pre-fill forms with personal data by snapping a picture of the consumer’s driver license, credit card, or other similar identity documents; Mobile Docs, a mobile document scanning solution; and MiSnap, a touch-free automated capture technology. In addition, it offers A2iA CheckReader that enables financial institutions to automatically extract data from checks; A2iA DocumentReader, a document classification and data extraction tool; A2iA TextReader that enables text transcription for printed and cursive handwritten text recognition; and ID_CLOUD, an automated identity verification solution that is integrated into a customers’ application to read and validate identity documents. The company sells its solutions primarily to banks, credit unions, lenders, payments processers, card issuers, fintech companies, etc. through direct sales teams and channel partners. Mitek Systems, Inc. was founded in 1983 and is based in San Diego, California.

Details
Name: Mitek Systems, Inc.
MITK
Exchange: NasdaqCM
Founded: 1983
$456,221,034
38,728,441
Website: http://www.miteksystems.com
Address: Mitek Systems, Inc.
600 B Street,
Suite 100,
San Diego,
California, 92101,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqCM MITK Common Stock Nasdaq Capital Market US USD 16. Nov 1987
LSE 0K1W Common Stock London Stock Exchange GB USD 16. Nov 1987
Number of employees
Current staff
Staff numbers
301
Mitek Systems employees.
Industry
Application Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 23:40
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/03/29
Last earnings filing: 2019/02/08
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/09/30


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.