Sapiens International
Sapiens International Corporation N.V. provides software solutions for the insurance and financial services industries in North America, Europe, the Asia Pacific, and South Africa. The last earnings update was 22 days ago. More info.
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- Sapiens International has significant price volatility in the past 3 months.
SPNS Share Price and Events
7 Day Returns
1 Year Returns
SPNS Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Sapiens International (SPNS) | 3.6% | 6.6% | 34.8% | 63.6% | 26.9% | 73.8% |
| US Software | 2.4% | 5.5% | 19.8% | 25.6% | 110.4% | 139.4% |
| US Market | 1.2% | 2.1% | 14.6% | 3% | 39% | 43.5% |
1 Year Return vs Industry and Market
- SPNS outperformed the Software industry which returned 25.6% over the past year.
- SPNS outperformed the Market in United States of America which returned 3% over the past year.
Value
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
Sapiens International
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Sapiens International.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 4 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 9.6% |
| 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.
| 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- 23%) (10.89%)) |
1.158 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.16 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.158 * 5.96%) |
9.63% |
Discounted Cash Flow Calculation for NasdaqCM:SPNS using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Sapiens International 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.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 9.63%) |
|
|---|---|---|---|
| 2019 | 17.94 | Est @ -1.3% | 16.37 |
| 2020 | 17.93 | Est @ -0.09% | 14.92 |
| 2021 | 18.06 | Est @ 0.76% | 13.71 |
| 2022 | 18.31 | Est @ 1.35% | 12.67 |
| 2023 | 18.63 | Est @ 1.76% | 11.76 |
| 2024 | 19.01 | Est @ 2.05% | 10.95 |
| 2025 | 19.44 | Est @ 2.26% | 10.21 |
| 2026 | 19.91 | Est @ 2.4% | 9.54 |
| 2027 | 20.41 | Est @ 2.5% | 8.92 |
| 2028 | 20.93 | Est @ 2.57% | 8.34 |
| Present value of next 10 years cash flows | $117.39 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $20.93 × (1 + 2.73%) ÷ (9.63% – 2.73%) |
$311.43 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $311.43 ÷ (1 + 9.63%)10 |
$124.14 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $117.39 + $124.14 |
$241.52 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $241.52 / 49.89 |
$4.84 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $4.84 |
| Current discount | Discount to share price of
$14.44
= -1 x ($14.44 - $4.84) / $4.84 |
-198.3% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Sapiens International is above its future cash flow value.
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 Sapiens International's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Sapiens International's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in USD | $0.28 |
| NasdaqCM:SPNS Share Price ** | NasdaqCM (2019-03-20) in USD | $14.44 |
| United States of America Software Industry PE Ratio | Median Figure of 84 Publicly-Listed Software Companies | 53.03x |
| United States of America Market PE Ratio | Median Figure of 3,058 Publicly-Listed Companies | 17.69x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Sapiens International.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NasdaqCM:SPNS Share Price ÷ EPS (both in USD) = 14.44 ÷ 0.28 |
52.19x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Sapiens International is good value based on earnings compared to the US Software industry average.
- Sapiens International is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Sapiens International's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 52.19x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts |
Not available |
| United States of America Software Industry PEG Ratio | Median Figure of 66 Publicly-Listed Software Companies | 3.6x |
| United States of America Market PEG Ratio | Median Figure of 2,103 Publicly-Listed Companies | 1.48x |
*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 Sapiens International, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Sapiens International's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in USD | $4.06 |
| NasdaqCM:SPNS Share Price * | NasdaqCM (2019-03-20) in USD | $14.44 |
| United States of America Software Industry PB Ratio | Median Figure of 220 Publicly-Listed Software Companies | 5.84x |
| United States of America Market PB Ratio | Median Figure of 5,156 Publicly-Listed Companies | 1.89x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NasdaqCM:SPNS Share Price ÷ Book Value per Share (both in USD) = 14.44 ÷ 4.06 |
3.56x |
* Primary Listing of Sapiens International.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Sapiens International is good value based on assets compared to the US Software industry average.
Value checks
We assess Sapiens International's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Software industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Software industry average (and greater than 0)? (1 check) Sapiens International has a total score of 2/6, 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.
Future Performance
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!
Earnings growth vs Low Risk Savings
- Unable to compare Sapiens International's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
- Unable to compare Sapiens International's earnings growth to the United States of America market average as no estimate data is available.
- Sapiens International's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NasdaqCM:SPNS Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts | 8.7% |
| United States of America Software Industry Earnings Growth Rate | Market Cap Weighted Average | 16.1% |
| 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 | 14.3% |
| 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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2020-12-31 | 344 | 1 | ||
| 2019-12-31 | 318 | 19 | 4 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 290 | 28 | 14 |
| 2018-09-30 | 288 | 19 | 13 |
| 2018-06-30 | 287 | 11 | 11 |
| 2018-03-31 | 284 | 25 | 5 |
| 2017-12-31 | 269 | 8 | 0 |
| 2017-09-30 | 255 | 7 | 1 |
| 2017-06-30 | 239 | 14 | 3 |
| 2017-03-31 | 223 | 14 | 12 |
| 2016-12-31 | 216 | 26 | 19 |
| 2016-09-30 | 208 | 36 | 21 |
| 2016-06-30 | 198 | 40 | 21 |
| 2016-03-31 | 191 | 33 | 20 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
All data from Sapiens International Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2020-12-31 | ||||
| 2019-12-31 | 0.37 | 0.46 | 0.28 | 2.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.28 |
| 2018-09-30 | 0.27 |
| 2018-06-30 | 0.22 |
| 2018-03-31 | 0.11 |
| 2017-12-31 | 0.01 |
| 2017-09-30 | 0.02 |
| 2017-06-30 | 0.07 |
| 2017-03-31 | 0.25 |
| 2016-12-31 | 0.40 |
| 2016-09-30 | 0.44 |
| 2016-06-30 | 0.43 |
| 2016-03-31 | 0.42 |
*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 Sapiens International will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess Sapiens International's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Sapiens International has a total score of 1/6, 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.
Past Performance
How has Sapiens International 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
Past Earnings growth analysis
- Sapiens International's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
- Sapiens International's 1-year earnings growth exceeds its 5-year average (3816.2% vs -10.5%)
- Sapiens International's earnings growth has exceeded the US Software industry average in the past year (3816.2% vs 32.7%).
Earnings and Revenue History
All data from Sapiens International Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 289.71 | 13.79 | 52.13 | 34.41 |
| 2018-09-30 | 288.00 | 13.23 | 45.93 | 34.56 |
| 2018-06-30 | 286.77 | 10.99 | 45.66 | 34.59 |
| 2018-03-31 | 283.66 | 5.40 | 49.71 | 34.91 |
| 2017-12-31 | 269.19 | 0.35 | 51.11 | 31.96 |
| 2017-09-30 | 254.71 | 0.97 | 56.08 | 28.62 |
| 2017-06-30 | 239.18 | 3.33 | 55.09 | 24.38 |
| 2017-03-31 | 223.16 | 12.24 | 48.59 | 19.43 |
| 2016-12-31 | 216.19 | 19.34 | 44.46 | 16.49 |
| 2016-09-30 | 207.75 | 21.40 | 43.17 | 14.15 |
| 2016-06-30 | 198.31 | 20.78 | 42.68 | 12.48 |
| 2016-03-31 | 191.34 | 20.17 | 41.32 | 10.87 |
| 2015-12-31 | 185.64 | 20.02 | 39.86 | 10.24 |
| 2015-09-30 | 178.74 | 18.77 | 38.10 | 10.24 |
| 2015-06-30 | 166.62 | 17.11 | 34.53 | 10.61 |
| 2015-03-31 | 161.84 | 15.60 | 33.35 | 11.08 |
| 2014-12-31 | 157.45 | 14.46 | 32.10 | 11.35 |
| 2014-09-30 | 151.87 | 13.26 | 30.76 | 11.37 |
| 2014-06-30 | 146.08 | 12.42 | 29.00 | 11.41 |
| 2014-03-31 | 140.50 | 11.99 | 27.65 | 11.51 |
| 2013-12-31 | 135.38 | 11.60 | 26.68 | 11.85 |
| 2013-09-30 | 130.36 | 11.50 | 25.25 | 11.67 |
| 2013-06-30 | 125.32 | 12.10 | 25.49 | 11.61 |
| 2013-03-31 | 119.43 | 12.02 | 25.49 | 11.09 |
| 2012-12-31 | 113.91 | 11.78 | 25.24 | 10.17 |
| 2012-09-30 | 107.33 | 9.51 | 25.43 | 8.68 |
| 2012-06-30 | 95.51 | 7.59 | 23.60 | 7.49 |
| 2012-03-31 | 82.59 | 6.61 | 20.97 | 6.25 |
*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.
- Sapiens International has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Sapiens International used its assets less efficiently than the US Software industry average last year based on Return on Assets.
- Sapiens International's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Sapiens International's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Software industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Sapiens International has a total score of 2/6, 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.
Health
How is Sapiens International'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 Sapiens International's finances.
The net worth of a company is the difference between its assets and liabilities.
- Sapiens International is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Sapiens International's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- Debt is covered by short term assets, assets are 1.7x 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.
All data from Sapiens International Company Filings, last reported 2 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 202.48 | 78.48 | 64.63 |
| 2018-09-30 | 200.47 | 78.42 | 64.08 |
| 2018-06-30 | 204.55 | 78.38 | 59.21 |
| 2018-03-31 | 207.14 | 78.33 | 61.75 |
| 2017-12-31 | 202.23 | 78.28 | 71.47 |
| 2017-09-30 | 204.03 | 78.24 | 80.49 |
| 2017-06-30 | 200.86 | 38.00 | 46.42 |
| 2017-03-31 | 199.40 | 40.00 | 35.12 |
| 2016-12-31 | 195.30 | 0.00 | 79.13 |
| 2016-09-30 | 194.51 | 0.00 | 81.36 |
| 2016-06-30 | 186.33 | 0.00 | 87.95 |
| 2016-03-31 | 182.35 | 0.00 | 81.98 |
| 2015-12-31 | 182.19 | 0.00 | 63.13 |
| 2015-09-30 | 175.83 | 0.00 | 48.97 |
| 2015-06-30 | 181.34 | 0.00 | 51.05 |
| 2015-03-31 | 179.02 | 0.00 | 53.94 |
| 2014-12-31 | 178.45 | 0.00 | 47.40 |
| 2014-09-30 | 176.50 | 0.00 | 45.13 |
| 2014-06-30 | 179.17 | 0.00 | 45.37 |
| 2014-03-31 | 174.07 | 0.00 | 74.97 |
| 2013-12-31 | 170.41 | 0.00 | 70.31 |
| 2013-09-30 | 127.48 | 0.00 | 28.11 |
| 2013-06-30 | 121.58 | 0.00 | 29.15 |
| 2013-03-31 | 118.17 | 0.00 | 25.59 |
| 2012-12-31 | 118.44 | 0.00 | 29.05 |
| 2012-09-30 | 118.22 | 0.00 | 33.11 |
| 2012-06-30 | 113.97 | 0.00 | 31.23 |
| 2012-03-31 | 116.08 | 0.00 | 27.09 |
- Sapiens International's level of debt (38.8%) 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 38.8% today).
- Debt is well covered by operating cash flow (35.3%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 5.8x coverage).
Financial health checks
We assess Sapiens International's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Sapiens International has a total score of 5/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
Dividends
What is Sapiens International'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
If you bought
$2,000 of
Sapiens International
shares you are expected to receive
$28
in your first year as a dividend.
Dividend Amount
- Sapiens International's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
- Sapiens International's dividend is below the markets top 25% of dividend payers in United States of America (3.64%).
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.
| 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 4 Analyst Estimates (S&P Global) | See Below |
| United States of America Software Industry Average Dividend Yield | Market Cap Weighted Average of 24 Stocks | 1.5% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2004 Stocks | 2.5% |
| 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.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2020-12-31 | ||
| 2019-12-31 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-26 | 0.200 | 1.438 |
| 2018-11-07 | 0.200 | 1.695 |
| 2018-09-20 | 0.200 | 1.684 |
| 2018-04-10 | 0.200 | 1.991 |
| 2018-03-08 | 0.200 | 2.265 |
| 2017-11-09 | 0.200 | 1.760 |
| 2017-10-18 | 0.200 | 1.438 |
| 2016-03-31 | 0.200 | 1.568 |
| 2015-05-06 | 0.150 | 1.413 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whilst dividend payments have been stable, Sapiens International has been paying a dividend for less than 10 years.
- Dividend payments have increased, but Sapiens International only paid a dividend in the past 4 years.
Income/ dividend checks
We assess Sapiens International's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Sapiens International afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Sapiens International has a total score of 1/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| AGE | 74 |
CEO Bio
Mr. Yacov Elinav serves as the Chief Executive Officer of Elinav Consulting & Services Ltd. Mr. Elinav serves as the Deputy Chief Executive Officer of Bank Hapoalim and the Commissioner of holdings in the Bank's subsidiary and affiliated companies. He served as the Head of Client Asset Management of Bank Hapoalim B.M. He was a Member of The Board of Management at Bank Hapoalim BM from 1991 to July 2003. Mr. Elinav serves as the Chairman of Industrial Development Bank of Israel Ltd. and Dapei Zahav Ltd. He serves as the Chairman of Dash Securities and Investments Ltd. (formerly D.S. Securities and Investments Ltd.) and Dash Providence Fund Management Ltd. He serves as the Chairman of Yovlim Pension Fund Management Ltd. and Yellow Pages Ltd. From 1992 through 2006, Mr. Elinav served as Chairman of the Board of Directors of Diur B.P. Ltd., the real estate subsidiary of Bank Hapoalim. He was the Chairman of DS Securities and Investments, Ltd. since 2004 until 2009. He serves as Member of the Board of Elinav Consulting & Services Ltd., Sapiens Ltd., Frutarom Ltd., Dapei Zahav Ltd., Shlomo Holdings Ltd., Tadiran Ltd., Ofer Investments Ltd., U. Dori Ltd., Globalbox Ltd. He has been a Director at Kamor Ltd. since September 2011, Sapiens International Corporation N.V. since March 2005. He serves as a Member of the Board of Directors of D.S. Investments Ltd., Delek Real Estate Ltd. Mr. Elinav serves as a Director of Amot Investment Ltd., Mivnei Ta'asia Ltd., Middle East Tube Ltd. and other entities and is an External Director of Office Textile Ltd. He served as an Independent Director at Frutarom Industries Ltd. since February 12, 2008. He served as an Independent Director at Polar Communications Ltd. since February 16, 2007 until January 15, 2016. He served as a Director of DS Securities and Investments, Ltd. and DS Mutual Funds Ltd. since August 1994. He served as Chairman of the Board of Dash Provident Fund Management ltd. (formerly D.S. Provident Fund Ltd.), from August 2004 through 2008. He served as Director at Koor Industries Limited since November 2001. From 2010 until August 2015, served as Chairman of the Board of Directors of Golden Pages Ltd. He served as Director of Ampal-American Israel Corp. He served as an External Director of Tefron Ltd. since July 15, 2004 until July 14, 2010. Mr. Elinav holds both a BA in Economics and an MBA from the Hebrew University of Jerusalem.
CEO Compensation
- Insufficient data for Yacov to compare compensation growth.
- Insufficient data for Yacov 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 Sapiens International management team in years:
- The tenure for the Sapiens International management team is about average.
Management Team
Yacov Elinav
Director
74
Roni Al-Dor
President & CEO
57
13.3 yrs
Roni Giladi
CFO & VP
47
11.7 yrs
Ben Shory
Corporate CTO & Digital Division Manager
1 yrs
Yaffa Cohen-Ifrah
Chief Marketing Officer & Head of Corporate Communications
5.2 yrs
Osnat Segev-Harel
Head of Corporate Development
56
10.2 yrs
Hagit Ashkenazi
Executive VP & Head of Professional Services
Harold Westervelt
Managing Director of DECISION
1.3 yrs
Tamar Alon-Verber
Chief Business Finance Officer
1 yrs
Tal Sharon
President of Sapiens Israel & East Europe
1.2 yrs
Board of Directors Tenure
Average tenure and age of the Sapiens International board of directors in years:
- The average tenure for the Sapiens International board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors
Guy Bernstein
Chairman of the Board
50
9.3 yrs
Yacov Elinav
Director
74
14 yrs
Roni Al-Dor
President & CEO
57
13.3 yrs
Andre Boisvert
Chairman of Sapiens Decision
64
2.7 yrs
Naamit Salomon
Director
54
15.5 yrs
Uzi Netanel
Director
82
14 yrs
Eyal Ben-Chlouche
Director
57
10.6 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Sapiens International's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Sapiens International 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.
News
Simply Wall St News
Should You Be Worried About Sapiens International Corporation N.V.'s (NASDAQ:SPNS) 6.9% Return On Equity?
Sapiens International has a ROE of 6.9%, based on the last twelve months. … Another way to think of that is that for every $1 worth of equity in the company, it was able to earn $0.069. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleDo You Know About Sapiens International Corporation N.V.’s (NASDAQ:SPNS) ROCE?
To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.
Simply Wall St - – Full articleIs Sapiens International Corporation N.V.'s (NASDAQ:SPNS) Balance Sheet A Threat To Its Future?
(NASDAQ:SPNS) is a small-cap stock with a market capitalization of US$648m. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … So, understanding the company's financial health becomes
Simply Wall St - – Full articleAt US$12.11, Is Sapiens International Corporation N.V. (NASDAQ:SPNS) Worth Looking At Closely?
saw a decent share price growth in the teens level on the NASDAQCM over the last few months. … 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? … Let’s examine Sapiens International’s valuation and outlook in more detail to determine if there’s still a bargain opportunity
Simply Wall St - – Full articleHow Many Sapiens International Corporation N.V. (NASDAQ:SPNS) Shares Do Institutions Own?
Generally speaking, as a company grows, institutions will increase their ownership. … Sapiens International is not a large company by global standards. … Taking a look at the our data on the ownership groups (below), it's seems that.
Simply Wall St - – Full articleWhat You Must Know About Sapiens International Corporation N.V.'s (NASDAQ:SPNS) 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 - – Full articleCalculating The Fair Value Of Sapiens International Corporation NV (NASDAQ:SPNS)
by taking the foreast future cash flows of the company and discounting them back to today's value. … Discounted Cash Flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model
Simply Wall St - – Full articleWhat Should You Know About Sapiens International Corporation NV's (NASDAQ:SPNS) Capital Returns?
and looking to gauge the potential return on investment in Sapiens International Corporation NV (NASDAQ:SPNS). … Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … Therefore, looking at how efficiently Sapiens International is able to use capital to create earnings will help us understand your potential return.
Simply Wall St - – Full articleBased On Its ROE, Is Sapiens International Corporation NV (NASDAQ:SPNS) A High Quality Stock?
With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.055 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleShould You Investigate Sapiens International Corporation NV (NASDAQ:SPNS) At US$11.49?
Sapiens International Corporation NV (NASDAQ:SPNS), which is in the software business, and is based in Israel,. … 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? … Let’s take a look at Sapiens International’s outlook and value based on the most recent financial data to see if the opportunity still exists
Simply Wall St - – Full articleCompany Info
Description
Sapiens International Corporation N.V. provides software solutions for the insurance and financial services industries in North America, Europe, the Asia Pacific, and South Africa. The company offers software platform and solutions for life, pension, and annuities, such as Sapiens ALIS, LifeSuite, Life Portraits, LifeApply, Sapiens INSIGHT, and Sapiens Closed Books; and personal, commercial and specialty lines, and workers’ compensation comprising Sapiens IDIT, Adaptik Policy, Adaptik Billing, Stream Claim, Sapiens Stingray, PowerSuite, and CompSuite. It also provides Digital Engagement, a digital insurance suite that includes advanced analytics, a portal for consumers and agents, an API layer for integration with the insurtech ecosystem, and a cloud proposition; and process analysis, business process automation, project management, performance optimization consulting services, etc., as well as information system development and various implementation methodology services to agents, customers, and insurance personnel. In addition, the company offers reinsurance software solutions, including Sapiens Reinsurance, Freedom Reinsurance System, and Universal Reinsurance System; eFreedom Annual Statement, PRO Financial General Ledger and Accounts Payable, PTE Financial applications, Insurance Financial reporting, and Power2Play financial and compliance solutions; and Sapiens DECISION, an enterprise-scale decision management solution. Further, it provides technology-based solutions based on its eMerge platform, which offers end-to-end modular business solutions, as well as Agile, Sapiens Delivery Tool, and Sapiens Delivery Performance Indicator methodologies. Additionally, the company offers program delivery, business transformation, and managed services. It markets and sells its products and services through direct and partner sales. The company was founded in 1982 and is headquartered in Holon, Israel.
Details
| Name: | Sapiens International Corporation N.V. |
| SPNS | |
| Exchange: | NasdaqCM |
| Founded: | 1982 |
| $720,418,314 | |
| 49,890,465 | |
| Website: | http://www.sapiens.com |
| Address: |
Sapiens International Corporation N.V. Azrieli Center, 26 Harokmim Street, Holon, 5885800, Israel |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NasdaqCM | SPNS | Common Shares | Nasdaq Capital Market | US | USD | 29. May 1992 | |
| DB | S3P | Common Shares | Deutsche Boerse AG | DE | EUR | 29. May 1992 | |
| TASE | SPNS | Common Shares | The Tel-Aviv Stock Exchange | IL | ILS | 29. May 1992 |
Number of employees
Current staff
Industry
| Application Software | |
| Software |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/03/20 23:49 |
| End of day share price update: | 2019/03/20 00:00 |
| Last estimates confirmation: | 2019/03/07 |
| Last earnings filing: | 2019/02/26 |
| 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.
