NasdaqCM:OSPN

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Executive Summary

OneSpan Inc., together with its subsidiaries, designs, develops, and markets digital solutions for identity, security, and business productivity worldwide.


Snowflake Analysis

Flawless balance sheet with reasonable growth potential.


Similar Companies

Share Price & News

How has OneSpan's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: OSPN's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

7.2%

OSPN

3.7%

US Software

2.4%

US Market


1 Year Return

56.3%

OSPN

33.0%

US Software

9.2%

US Market

Return vs Industry: OSPN exceeded the US Software industry which returned 34.7% over the past year.

Return vs Market: OSPN exceeded the US Market which returned 8.5% over the past year.


Shareholder returns

OSPNIndustryMarket
7 Day7.2%3.7%2.4%
30 Day33.8%9.5%10.2%
90 Day33.7%16.2%3.4%
1 Year56.3%56.3%34.0%33.0%11.6%9.2%
3 Year53.1%53.1%128.7%120.8%33.7%24.9%
5 Year-28.6%-28.6%206.8%188.0%59.7%41.8%

Price Volatility Vs. Market

How volatile is OneSpan's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: OSPN ($21.67) is trading below our estimate of fair value ($45.65)

Significantly Below Fair Value: OSPN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: OSPN is poor value based on its PE Ratio (59.6x) compared to the Software industry average (48.6x).

PE vs Market: OSPN is poor value based on its PE Ratio (59.6x) compared to the US market (15.8x).


Price to Earnings Growth Ratio

PEG Ratio: OSPN is poor value based on its PEG Ratio (2.1x)


Price to Book Ratio

PB vs Industry: OSPN is good value based on its PB Ratio (3.3x) compared to the US Software industry average (6.1x).


Next Steps

Future Growth

How is OneSpan forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

27.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: OSPN's forecast earnings growth (27.8% per year) is above the savings rate (2.2%).

Earnings vs Market: OSPN's earnings (27.8% per year) are forecast to grow faster than the US market (22.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: OSPN's revenue (8.9% per year) is forecast to grow faster than the US market (8.9% per year).

High Growth Revenue: OSPN's revenue (8.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if OSPN's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has OneSpan performed over the past 5 years?

-50.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: OSPN has high quality earnings.

Growing Profit Margin: OSPN became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: OSPN's earnings have declined by -50.9% per year over the past 5 years.

Accelerating Growth: OSPN has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: OSPN has become profitable in the last year, making it difficult to compare its past year earnings growth to the Software industry (9.6%).


Return on Equity

High ROE: OSPN's Return on Equity (5.6%) is considered low.


Next Steps

Financial Health

How is OneSpan's financial position?


Financial Position Analysis

Short Term Liabilities: OSPN's short term assets ($208.0M) exceed its short term liabilities ($68.7M).

Long Term Liabilities: OSPN's short term assets ($208.0M) exceed its long term liabilities ($47.7M).


Debt to Equity History and Analysis

Debt Level: OSPN is debt free.

Reducing Debt: OSPN has not had any debt for past 5 years.

Debt Coverage: OSPN has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: OSPN has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

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


Dividend Yield vs Market

Notable Dividend: Unable to evaluate OSPN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate OSPN's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if OSPN's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if OSPN's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of OSPN's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

3.4yrs

Average management tenure


CEO

Scott Clements (56yo)

2.92yrs

Tenure

US$3,033,132

Compensation

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. Cle ...


CEO Compensation Analysis

Compensation vs Market: Scott's total compensation ($USD3.03M) is about average for companies of similar size in the US market ($USD3.18M).

Compensation vs Earnings: Scott's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Scott Clements
CEO, President & Director2.92yrsUS$3.03m0.33% $2.9m
Thomas Hunt
Founder & Director22.92yrsUS$60.00k14.15% $123.2m
Mark Hoyt
CFO, Executive VP & Treasurer4.67yrsUS$1.63m0.18% $1.6m
Benoit Grange
Chief Technology Officer3.42yrsno datano data
Jeff Cole
Chief Information Officer3.17yrsno datano data
Joe Maxa
Director of Investor Relationsno datano datano data
Steven Worth
Chief Compliance Officer3.42yrsno datano data
John Gunn
Chief Marketing Officer3.42yrsno datano data
Dan Dica
Senior Vice President of Worldwide Salesno datano datano data
Giovanni Verhaeghe
Vice President of Corporate Development & Hardware Operations2.42yrsno datano data

3.4yrs

Average Tenure

57yo

Average Age

Experienced Management: OSPN's management team is considered experienced (3.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Scott Clements
CEO, President & Director2.92yrsUS$3.03m0.33% $2.9m
Thomas Hunt
Founder & Director22.92yrsUS$60.00k14.15% $123.2m
Jean Holley
Independent Director13.83yrsUS$179.50k0.29% $2.5m
Matthew Moog
Independent Director7.5yrsUS$175.00k0.14% $1.2m
Michael Cullinane
Independent Director22.17yrsUS$186.00k0.48% $4.2m
Marc Boroditsky
Independent Director1yrUS$94.79k0.0075% $65.0k
John Fox
Independent Chairman of the Boardno dataUS$197.00k0.28% $2.4m
Marianne Johnson
Independent Director0.25yrno datano data
Naureen Hassan
Independent Director0.25yrno datano data
Marc Zenner
Independent Director1yrUS$94.79k0.025% $216.7k

2.9yrs

Average Tenure

56yo

Average Age

Experienced Board: OSPN's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: OSPN insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

OneSpan Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: OneSpan Inc.
  • Ticker: OSPN
  • Exchange: NasdaqCM
  • Founded: 1991
  • Industry: Systems Software
  • Sector: Software
  • Market Cap: US$870.974m
  • Shares outstanding: 40.19m
  • Website: https://www.onespan.com

Number of Employees


Location

  • OneSpan Inc.
  • 121 West Wacker Drive
  • Suite 2050
  • Chicago
  • Illinois
  • 60601
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
OSPNNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDMar 1998
VDYDB (Deutsche Boerse AG)YesCommon StockDEEURMar 1998
0YNULSE (London Stock Exchange)YesCommon StockGBUSDMar 1998

Biography

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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/03 11:48
End of Day Share Price2020/06/02 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.