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OneSpan

Nasdaq:OSPN
Snowflake Description

Flawless balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
OSPN
Nasdaq
$687M
Market Cap
  1. Home
  2. US
  3. Software
Company description

OneSpan Inc., together with its subsidiaries, designs, develops, and markets digital solutions for identity, security, and business productivity worldwide. The last earnings update was 38 days ago. More info.


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  • OneSpan has significant price volatility in the past 3 months.
OSPN Share Price and Events
7 Day Returns
-4.2%
NasdaqCM:OSPN
-0.3%
US Software
-0.8%
US Market
1 Year Returns
13.4%
NasdaqCM:OSPN
27.1%
US Software
7%
US Market
OSPN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
OneSpan (OSPN) -4.2% -8.6% 24.9% 13.4% -0.9% 57.6%
US Software -0.3% 2.8% 13.7% 27.1% 114.9% 158.5%
US Market -0.8% 2.7% 7.5% 7% 37.9% 47%
1 Year Return vs Industry and Market
  • OSPN underperformed the Software industry which returned 27.1% over the past year.
  • OSPN outperformed the Market in United States of America which returned 7% over the past year.
Price Volatility
OSPN
Industry
5yr Volatility vs Market
Related Companies

OSPN Value

 Is OneSpan 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 OneSpan 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 OneSpan.

NasdaqCM:OSPN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.2%
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:OSPN
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))
= 1.139 (1 + (1- 21%) (0%))
1.093
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% + (1.093 * 5.96%)
9.24%

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

The calculations below outline how an intrinsic value for OneSpan 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:OSPN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.24%)
2019 25.00 Analyst x1 22.88
2020 27.10 Analyst x2 22.71
2021 28.85 Est @ 6.45% 22.13
2022 30.39 Est @ 5.33% 21.33
2023 31.77 Est @ 4.55% 20.42
2024 33.04 Est @ 4.01% 19.44
2025 34.24 Est @ 3.62% 18.44
2026 35.39 Est @ 3.36% 17.44
2027 36.51 Est @ 3.17% 16.47
2028 37.62 Est @ 3.04% 15.54
Present value of next 10 years cash flows $196.81
NasdaqCM:OSPN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $37.62 × (1 + 2.73%) ÷ (9.24% – 2.73%)
$593.21
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $593.21 ÷ (1 + 9.24%)10
$245.02
NasdaqCM:OSPN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $196.81 + $245.02
$441.83
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $441.83 / 39.97
$11.05
NasdaqCM:OSPN Discount to Share Price
Calculation Result
Value per share (USD) From above. $11.05
Current discount Discount to share price of $17.18
= -1 x ($17.18 - $11.05) / $11.05
-55.4%

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

  • The current share price of OneSpan 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 OneSpan's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are OneSpan's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqCM:OSPN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.10
NasdaqCM:OSPN Share Price ** NasdaqCM (2019-04-22) in USD $17.18
United States of America Software Industry PE Ratio Median Figure of 83 Publicly-Listed Software Companies 54.37x
United States of America Market PE Ratio Median Figure of 3,080 Publicly-Listed Companies 18.21x

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

** Primary Listing of OneSpan.

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

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

= 17.18 ÷ 0.10

178.38x

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

  • OneSpan is overvalued based on earnings compared to the US Software industry average.
  • OneSpan is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does OneSpan's expected growth come at a high price?
Raw Data
NasdaqCM:OSPN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 178.38x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
59.6%per year
United States of America Software Industry PEG Ratio Median Figure of 66 Publicly-Listed Software Companies 3.25x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

NasdaqCM:OSPN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 178.38x ÷ 59.6%

2.99x

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

  • OneSpan is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on OneSpan's assets?
Raw Data
NasdaqCM:OSPN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $6.31
NasdaqCM:OSPN Share Price * NasdaqCM (2019-04-22) in USD $17.18
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 5,186 Publicly-Listed Companies 1.91x
NasdaqCM:OSPN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 17.18 ÷ 6.31

2.72x

* Primary Listing of OneSpan.

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

  • OneSpan is good value based on assets compared to the US Software industry average.
X
Value checks
We assess OneSpan'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. OneSpan 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.

OSPN Future Performance

 How is OneSpan expected to perform in the next 1 to 3 years based on estimates from 5 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
59.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is OneSpan expected to grow at an attractive rate?
  • OneSpan's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • OneSpan's earnings growth is expected to exceed the United States of America market average.
  • OneSpan's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqCM:OSPN Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqCM:OSPN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 59.6%
NasdaqCM:OSPN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 10%
United States of America Software Industry Earnings Growth Rate Market Cap Weighted Average 15.4%
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%

*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:OSPN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqCM:OSPN Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 259 35 13 5
2019-12-31 234 17 6 5
NasdaqCM:OSPN Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 212 1 4
2018-09-30 202 -7 -26
2018-06-30 201 5 -22
2018-03-31 197 26 -21
2017-12-31 193 18 -22
2017-09-30 186 19 8
2017-06-30 179 25 6
2017-03-31 188 27 9
2016-12-31 192 28 11
2016-09-30 196 46 9
2016-06-30 212 64 20
2016-03-31 223 60 31

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • OneSpan's earnings are expected to grow significantly at over 20% yearly.
  • OneSpan's revenue is expected to grow by 10% 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
NasdaqCM:OSPN 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 5 Analyst Estimates (S&P Global) See Below

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

NasdaqCM:OSPN Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.33 0.49 0.26 4.00
2019-12-31 0.16 0.20 0.12 4.00
NasdaqCM:OSPN Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.10
2018-09-30 -0.65
2018-06-30 -0.56
2018-03-31 -0.53
2017-12-31 -0.56
2017-09-30 0.21
2017-06-30 0.16
2017-03-31 0.22
2016-12-31 0.26
2016-09-30 0.23
2016-06-30 0.50
2016-03-31 0.78

*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.
  • OneSpan is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess OneSpan'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.
OneSpan 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.

OSPN Past Performance

  How has OneSpan 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 OneSpan'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.
  • OneSpan's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • OneSpan has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • OneSpan has become profitable in the last year making it difficult to compare the US Software industry average.
Earnings and Revenue History
OneSpan'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 OneSpan Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:OSPN Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 212.28 3.85 103.99 32.20
2018-09-30 201.99 -25.96 104.78 28.26
2018-06-30 200.62 -22.29 102.41 24.76
2018-03-31 196.76 -21.18 99.89 23.06
2017-12-31 193.29 -22.40 96.39 23.12
2017-09-30 186.38 8.45 91.26 23.27
2017-06-30 178.90 6.17 88.56 23.58
2017-03-31 187.50 8.89 89.35 23.50
2016-12-31 192.30 10.51 89.00 23.21
2016-09-30 195.60 8.99 85.02 21.61
2016-06-30 211.98 19.70 81.24 20.18
2016-03-31 223.08 30.74 73.60 18.48
2015-12-31 241.44 42.15 68.31 17.46
2015-09-30 252.98 49.69 67.14 18.18
2015-06-30 245.59 49.72 65.96 18.24
2015-03-31 227.85 42.74 65.92 18.91
2014-12-31 201.54 32.61 64.48 18.55
2014-09-30 182.38 24.96 65.49 20.20
2014-06-30 168.90 17.12 63.16 20.82
2014-03-31 158.51 12.08 62.08 20.96
2013-12-31 155.05 10.97 61.52 20.67
2013-09-30 150.62 9.79 60.45 20.07
2013-06-30 147.76 11.10 59.22 19.49
2013-03-31 157.14 16.65 58.44 18.94
2012-12-31 154.03 16.23 57.84 18.79
2012-09-30 163.72 25.41 59.56 19.18
2012-06-30 168.81 26.66 61.98 19.48

*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.
  • OneSpan has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • OneSpan used its assets less efficiently than the US Software industry average last year based on Return on Assets.
  • OneSpan's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess OneSpan'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.
OneSpan 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.

OSPN Health

 How is OneSpan'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 OneSpan's finances.

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

NasdaqCM:OSPN Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 252.44 0.00 99.50
2018-09-30 249.88 0.00 91.94
2018-06-30 250.92 0.00 101.43
2018-03-31 254.23 0.00 166.44
2017-12-31 237.93 0.00 158.39
2017-09-30 265.31 0.00 158.72
2017-06-30 260.58 0.00 156.22
2017-03-31 258.19 0.00 145.98
2016-12-31 253.16 0.00 144.20
2016-09-30 256.19 0.00 141.54
2016-06-30 254.58 0.00 135.75
2016-03-31 252.19 0.00 125.20
2015-12-31 248.05 0.00 123.48
2015-09-30 244.59 0.00 183.98
2015-06-30 232.37 0.00 157.01
2015-03-31 216.33 0.00 149.09
2014-12-31 205.87 0.00 137.38
2014-09-30 195.16 0.00 125.91
2014-06-30 186.10 0.00 123.31
2014-03-31 178.43 0.00 109.49
2013-12-31 174.28 0.00 98.61
2013-09-30 166.63 0.00 92.12
2013-06-30 159.26 0.00 85.65
2013-03-31 156.91 0.00 104.64
2012-12-31 156.32 0.00 106.47
2012-09-30 151.35 0.00 96.14
2012-06-30 144.69 0.00 85.15
  • OneSpan has no debt.
  • OneSpan has not taken on any debt in the past 5 years.
  • OneSpan has no debt, it does not need to be covered by operating cash flow.
  • OneSpan has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess OneSpan'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. OneSpan 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.

OSPN Dividends

 What is OneSpan'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 OneSpan dividends.
If you bought $2,000 of OneSpan 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 OneSpan's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate OneSpan'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:OSPN 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 5 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:OSPN Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2019-12-31

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

  • Unable to perform a dividend volatility check as OneSpan has not reported any payouts.
  • Unable to verify if OneSpan's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of OneSpan's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as OneSpan 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 OneSpan'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 OneSpan afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. OneSpan 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.

OSPN Management

 What is the CEO of OneSpan'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
Scott Clements
COMPENSATION $2,264,405
AGE 55
TENURE AS CEO 1.8 years
CEO Bio

Mr. Scott M. Clements has been the President and Chief Executive Officer of OneSpan Inc. (Former Name: VASCO Data Security International Inc.)since November 15, 2016 and July 28, 2017 respectively. Mr. Clements is Director of VASCO Data Security International, Inc. since July 28, 2017. Mr. Clements served as Chief Operating Officer at OneSpan Inc. from November 15, 2016 to July 28, 2017 and served as its Chief Strategy Officer and Executive Vice President from December 1, 2015 to November 15, 2016. Mr. Clements served as the President of Tyco Retail Solutions. Mr. Clements led Tyco’s ADT Federal Systems Division offering integrated security solutions to government agencies and related critical infrastructure and homeland security markets. He served as Corporate Senior Vice President of Business Development at Tyco International. He served as President of Vertical Market Solutions at Tyco International plc (Tyco International Ltd.) and served as its Chief Technology Officer. Prior to Tyco, he served as Executive Vice President of Cordiem, an internet software joint venture founded by Honeywell International, United Technologies and nine of the world’s top airlines. He spent a decade at Honeywell in a variety of domestic and international financial and operational positions, including leading its investor relations function. Mr. Clements has a bachelor’s degree in chemical engineering and advanced process control from Ohio State University and an MBA in finance and corporate strategy from the University of Michigan.

CEO Compensation
  • Scott's compensation has increased in line with OneSpan recently becoming profitable.
  • Scott's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

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

2.3
Average Tenure
56
Average Age
  • The tenure for the OneSpan management team is about average.
Management Team

Scott Clements

TITLE
CEO, President & Director
COMPENSATION
$2M
AGE
55
TENURE
1.8 yrs

Ken Hunt

TITLE
Founder & Director
COMPENSATION
$3M
AGE
74

Mark Hoyt

TITLE
CFO. Executive VP & Treasurer
COMPENSATION
$1M
AGE
50
TENURE
3.5 yrs

Benoit Grange

TITLE
Chief Technology Officer
TENURE
2.3 yrs

Jeff Cole

TITLE
Chief Information Officer
TENURE
2 yrs

Joe Maxa

TITLE
Director of Investor Relations

Steve Worth

TITLE
Chief Compliance Officer
TENURE
2.3 yrs

John Gunn

TITLE
Vice President of Corporate Communications
AGE
57
TENURE
2.3 yrs

Dan Dica

TITLE
Senior Vice President of Worldwide Sales

Giovanni Verhaeghe

TITLE
Vice President of Corporate Development & Hardware Operations
TENURE
1.3 yrs
Board of Directors Tenure

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

12.7
Average Tenure
63.5
Average Age
  • The average tenure for the OneSpan board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

John Fox

TITLE
Chairman of the Board
COMPENSATION
$177K
AGE
75

Scott Clements

TITLE
CEO, President & Director
COMPENSATION
$2M
AGE
55
TENURE
1.8 yrs

Ken Hunt

TITLE
Founder & Director
COMPENSATION
$3M
AGE
74
TENURE
21.8 yrs

Michael Cullinane

TITLE
Independent Director
COMPENSATION
$179K
AGE
68
TENURE
21 yrs

Jean Holley

TITLE
Independent Director
COMPENSATION
$175K
AGE
59
TENURE
12.7 yrs

Matthew Moog

TITLE
Director
COMPENSATION
$170K
AGE
48
TENURE
6.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
01. Nov 18 Buy Legion Partners Asset Management, LLC Company 05. Sep 18 30. Oct 18 1,056,730 $18.75 $19,370,915
17. Sep 18 Sell Thomas Hunt Individual 14. Sep 18 14. Sep 18 -425,000 $17.65 $-7,501,250
17. Sep 18 Sell Thomas Hunt Individual 14. Sep 18 14. Sep 18 -500 $18.37 $-9,185
14. Sep 18 Sell Thomas Hunt Individual 11. Sep 18 13. Sep 18 -53,947 $18.31 $-986,172
11. Sep 18 Sell Thomas Hunt Individual 10. Sep 18 10. Sep 18 -8,706 $17.96 $-156,331
07. Sep 18 Sell Thomas Hunt Individual 05. Sep 18 06. Sep 18 -126,596 $17.92 $-2,249,301
17. Aug 18 Sell Thomas Hunt Individual 16. Aug 18 16. Aug 18 -282,486 $17.70 $-5,000,002
X
Management checks
We assess OneSpan'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. OneSpan 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.

OSPN News

Simply Wall St News

Can You Imagine How Chuffed OneSpan's (NASDAQ:OSPN) Shareholders Feel About Its 141% Share Price Gain?

One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During the five years of share price growth, OneSpan moved from a loss to profitability. … Sometimes, the start of profitability is a major inflection point that can signal fast earnings growth to come, which in turn justifies very strong share price gains.

Simply Wall St -

Based On Its ROE, Is OneSpan Inc. (NASDAQ:OSPN) A High Quality Stock?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Our data shows OneSpan has a return on equity of 1.5% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

What You Must Know About OneSpan Inc.'s (NASDAQ:OSPN) Beta Value

Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

Could OneSpan Inc.'s (NASDAQ:OSPN) Investor Composition Influence The Stock Price?

Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … OneSpan is not a large company by global standards. … institutional investors have bought into the company

Simply Wall St -

Have Insiders Been Selling OneSpan Inc (NASDAQ:OSPN) Shares?

So before you buy or sell OneSpan Inc (NASDAQ:OSPN), you may well want to know whether insiders have been buying or selling. … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'. … Thomas Hunt was the only individual insider to sell over the last year

Simply Wall St -

What does OneSpan Inc's (NASDAQ:OSPN) Balance Sheet Tell Us About Its Future?

However, it also faces higher cost of capital given interest cost is generally lower than equity. … Is financial flexibility worth the lower cost of capital. … Debt capital generally has lower cost of capital compared to equity funding

Simply Wall St -

Should You Be Holding OneSpan Inc (NASDAQ:OSPN) Right Now?

If you're interested in OneSpan Inc (NASDAQ:OSPN), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility).

Simply Wall St -

What Should Investors Know About OneSpan Inc's (NASDAQ:OSPN) Return On Capital?

and want to begin learning the link between OneSpan Inc (NASDAQ:OSPN)’s return fundamentals and stock market performance. … As a result, your investment is being put to work to fund operations and if you want to earn an attractive return on your investment, the business needs to be making an adequate amount of money from the funds you provide. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided.

Simply Wall St -

Is There Now An Opportunity In OneSpan Inc (NASDAQ:OSPN)?

received a lot of attention from a substantial price increase on the NasdaqCM over the last few months. … Less-covered, small caps sees more of an opportunity for mispricing due to the lack of information available to the public, which can be a good thing? … So, could the stock still be trading at a low price relative to its actual value.

Simply Wall St -

OSPN Company Info

Description

OneSpan Inc., together with its subsidiaries, designs, develops, and markets digital solutions for identity, security, and business productivity worldwide. The company offers DIGIPASS hardware authenticators that supports authentication and digital signatures for applications running on desktop PCs, laptops, tablets, and smart phones; Mobile Security Suite, a software development kit; Mobile Authenticator Studio, a mobile authenticator that operates as a discrete mobile application; and authentication server that enables customers to administer a high level of access control. It also provides OneSpan Sign, which supports a range of eSignature requirements from simple to complex; Trusted Identity Platform, an open architected, cloud-based platform; Intelligent Adaptive Authentication, a cloud-based solution that enables banks and other financial institutions to secure users, devices, and transactions; and Risk Analytics, a comprehensive anti-fraud solution; and Verification Hub, a cloud-based digital identity verification solution that provides access to multiple third-party verification services. The company sells its solutions through its direct sales force, as well as through distributors, resellers, systems integrators, and original equipment manufacturers. The company was formerly known as VASCO Data Security International, Inc. and changed its name to OneSpan Inc. in May 2018. OneSpan Inc. was founded in 1991 and is headquartered in Chicago, Illinois.

Details
Name: OneSpan Inc.
OSPN
Exchange: NasdaqCM
Founded: 1991
$686,689,650
39,970,294
Website: http://www.onespan.com
Address: OneSpan Inc.
121 West Wacker Drive,
Suite 2050,
Chicago,
Illinois, 60601,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqCM OSPN Common Stock Nasdaq Capital Market US USD 20. Mar 1998
DB VDY Common Stock Deutsche Boerse AG DE EUR 20. Mar 1998
LSE 0YNU Common Stock London Stock Exchange GB USD 20. Mar 1998
Number of employees
Current staff
Staff numbers
732
OneSpan employees.
Industry
Systems Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/22 23:47
End of day share price update: 2019/04/22 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/03/15
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.