Payoneer Global (NasdaqGM:PAYO) - Share price, News & Analysis

PAYO fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	1/6
Past Performance	0/6
Financial Health	5/6
Dividends	0/6

PAYO Stock Overview

Payoneer Global Inc. operates a payment and commerce-enabling platform that facilitates marketplaces, platforms and online merchants worldwide.

Rewards

Trading at 8.1% below our estimate of its fair value

Revenue is forecast to grow 19.39% per year

Risk Analysis

Currently unprofitable and not forecast to become profitable over the next 3 years

Volatile share price over the past 3 months

Payoneer Global Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Payoneer Global
Historical stock prices
Current Share Price	US$4.34
52 Week High	US$11.20
52 Week Low	US$3.33
Beta	0
1 Month Change	-6.26%
3 Month Change	-2.25%
1 Year Change	-58.71%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-55.17%

Recent News & Updates

May 13

Payoneer Global: Ukraine Coming Back

Payoneer easily surpassed Q1'22 consensus estimates. The global payments company has seen the Ukraine customer base remain resilient with up to 50% of the business intact. The stock is cheap at 2x '23 EV/S targets after the company hiked '22 revenue guidance by $20 million.

Shareholder Returns

	PAYO	US IT	US Market
7D	14.8%	5.7%	4.0%
1Y	-58.7%	-34.7%	-20.5%

Return vs Industry: PAYO underperformed the US IT industry which returned -35.5% over the past year.

Return vs Market: PAYO underperformed the US Market which returned -20.8% over the past year.

Price Volatility

Is PAYO's price volatile compared to industry and market?
PAYO volatility
PAYO Average Weekly Movement	13.6%
IT Industry Average Movement	9.8%
Market Average Movement	7.9%
10% most volatile stocks in US Market	16.5%
10% least volatile stocks in US Market	3.1%

Stable Share Price: PAYO is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 14% a week.

Volatility Over Time: PAYO's weekly volatility (14%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

Founded	Employees	CEO	Website
2005	1,871	Scott Galit	https://www.payoneer.com

Payoneer Global Inc. operates a payment and commerce-enabling platform that facilitates marketplaces, platforms and online merchants worldwide. It delivers a suite of services that includes cross-border payments, B2B accounts payable/accounts receivable, multi-currency account, physical and virtual Mastercard cards, working capital, merchant, tax, compliance and risk, and others. The company’s platform delivers bank-grade security, stability, and redundancy combined with modern digital capabilities that interconnects the world on a single platform.

Payoneer Global Fundamentals Summary

How do Payoneer Global's earnings and revenue compare to its market cap?
PAYO fundamental statistics
Market Cap	US$1.49b
Earnings (TTM)	-US$38.36m
Revenue (TTM)	US$509.76m

2.9x

P/S Ratio

-38.9x

P/E Ratio

Is PAYO overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
PAYO income statement (TTM)
Revenue	US$509.76m
Cost of Revenue	US$106.90m
Gross Profit	US$402.86m
Other Expenses	US$441.22m
Earnings	-US$38.36m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	-0.11
Gross Margin	79.03%
Net Profit Margin	-7.52%
Debt/Equity Ratio	2.7%

How did PAYO perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is PAYO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PAYO?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for PAYO. This is calculated by dividing PAYO's market cap by their current preferred multiple.
What is PAYO's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	US$1.49b

PAYO key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	2.1x
Enterprise Value/EBITDA	-45.4x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does PAYO's PS Ratio compare to its peers?

PAYO PS Ratio vs Peers

The above table shows the PS ratio for PAYO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PS	Estimated Growth	Market Cap
Peer Average	6.2x

Forward PS

Price-To-Sales vs Peers: PAYO is good value based on its Price-To-Sales Ratio (2.9x) compared to the peer average (6.2x).

Price to Earnings Ratio vs Industry

How does PAYO's PE Ratio compare vs other companies in the U.S. IT Industry?

Price-To-Sales vs Industry: PAYO is expensive based on its Price-To-Sales Ratio (2.9x) compared to the US IT industry average (2.4x)

Price to Sales Ratio vs Fair Ratio

What is PAYO's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PAYO PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	2.9x
Fair PS Ratio	7x

Price-To-Sales vs Fair Ratio: PAYO is good value based on its Price-To-Sales Ratio (2.9x) compared to the estimated Fair Price-To-Sales Ratio (7x).

Share Price vs Fair Value

What is the Fair Price of PAYO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PAYO ($4.34) is trading below our estimate of fair value ($4.72)

Significantly Below Fair Value: PAYO is trading below fair value, but not by a significant amount.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate PAYO's PEG Ratio to determine if it is good value.

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Future Growth

How is Payoneer Global forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

1.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: PAYO is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: PAYO is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: PAYO is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: PAYO's revenue (19.4% per year) is forecast to grow faster than the US market (8.3% per year).

High Growth Revenue: PAYO's revenue (19.4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: PAYO is forecast to be unprofitable in 3 years.

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Past Performance

How has Payoneer Global performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-35.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PAYO is currently unprofitable.

Growing Profit Margin: PAYO is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: PAYO is unprofitable, and losses have increased over the past 5 years at a rate of 35.6% per year.

Accelerating Growth: Unable to compare PAYO's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: PAYO is unprofitable, making it difficult to compare its past year earnings growth to the IT industry (21.4%).

Return on Equity

High ROE: PAYO has a negative Return on Equity (-1.97%), as it is currently unprofitable.

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Financial Health

How is Payoneer Global's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: PAYO's short term assets ($5.2B) exceed its short term liabilities ($4.7B).

Long Term Liabilities: PAYO's short term assets ($5.2B) exceed its long term liabilities ($69.5M).

Debt to Equity History and Analysis

Debt Level: PAYO has more cash than its total debt.

Reducing Debt: Insufficient data to determine if PAYO's debt to equity ratio has reduced over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable PAYO has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: PAYO is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 60.1% per year.

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Dividend

What is Payoneer Global current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

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

High Dividend: Unable to evaluate PAYO'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 PAYO's dividends per share have been stable in the past.

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

Earnings Payout to Shareholders

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

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as PAYO has not reported any payouts.

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Management

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

0.8yrs

Average management tenure

CEO

Scott Galit (51 yo)

0.083

Tenure

US$5,158,310

Compensation

Mr. Scott H. Galit serves as Co- Chief Executive Officer at Payoneer Global Inc. since May 2022 and served as its Chief Executive Officer since 210 until May 2022. He is Director at Payoneer Global Inc. (f...

CEO Compensation Analysis

Compensation vs Market: Scott's total compensation ($USD5.16M) is about average for companies of similar size in the US market ($USD5.57M).

Compensation vs Earnings: Scott's compensation has increased whilst the company is unprofitable.

Leadership Team

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

Board Members

Experienced Board: PAYO's board of directors are considered experienced (5.4 years average tenure).

Ownership

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

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Insufficient data to determine if shareholders have been diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/06/23 00:00
End of Day Share Price	2022/06/23 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31