Model N
Market Cap
US$974.7m
Last Updated
2019/11/23 00:50 UTC
Data Sources
Company Financials +
Executive Summary
Model N, Inc. provides revenue management cloud solutions for the life sciences and technology companies.
Snowflake
Fundamentals
Adequate balance sheet with concerning outlook.
Similar Companies
Share Price & News
How has Model N's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: MODN has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-5.7%
MODN
1.2%
US Software
-0.2%
US Market
1 Year Return
115.3%
MODN
37.4%
US Software
16.1%
US Market
Return vs Industry: MODN exceeded the US Software industry which returned 37.4% over the past year.
Return vs Market: MODN exceeded the US Market which returned 16.1% over the past year.
Shareholder returns
| MODN | Industry | Market | |
|---|---|---|---|
| 7 Day | -5.7% | 1.2% | -0.2% |
| 30 Day | 5.9% | 11.6% | 3.7% |
| 90 Day | 9.0% | 7.5% | 8.5% |
| 1 Year | 115.3%115.3% | 39.5%37.4% | 18.7%16.1% |
| 3 Year | 235.7%235.7% | 126.6%117.7% | 46.9%37.4% |
| 5 Year | 186.8%186.8% | 173.6%154.0% | 61.8%44.0% |
Price Volatility Vs. Market
How volatile is Model N's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
Earnings Update: Here's Why Analysts Just Lifted Their Model N, Inc. Price Target To US$33.292 weeks ago | Simply Wall St
Does Model N (NYSE:MODN) Have A Healthy Balance Sheet?1 month ago | Simply Wall St
Investors Who Bought Model N (NYSE:MODN) Shares Five Years Ago Are Now Up 194%Valuation
Is Model N undervalued compared to its fair value and its price relative to the market?
18.49x
Price to Book (PB) ratio
Share Price vs. Fair Value
Below Fair Value: MODN ($29.54) is trading above our estimate of fair value ($14.73)
Significantly Below Fair Value: MODN is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: MODN is unprofitable, so we can't compare its PE Ratio to the Software industry average.
PE vs Market: MODN is unprofitable, so we can't compare its PE Ratio to the US market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate MODN's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: MODN is overvalued based on its PB Ratio (18.5x) compared to the US Software industry average (6x).
Next Steps
Future Growth
How is Model N forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
26.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MODN is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: MODN is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: MODN is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: MODN's revenue (9.1% per year) is forecast to grow faster than the US market (7.3% per year).
High Growth Revenue: MODN's revenue (9.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: MODN's Return on Equity is forecast to be low in 3 years time (16.3%).
Next Steps
Past Performance
How has Model N performed over the past 5 years?
-3.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MODN has high quality earnings.
Growing Profit Margin: MODN is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: MODN is unprofitable, and losses have increased over the past 5 years at a rate of -3.8% per year.
Accelerating Growth: Unable to compare MODN's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: MODN is unprofitable, making it difficult to compare its past year earnings growth to the Software industry (25.8%).
Return on Equity
High ROE: MODN has a negative Return on Equity (-36.59%), as it is currently unprofitable.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Model N's financial position?
Financial Position Analysis
Short Term Liabilities: MODN's short term assets ($94.5M) exceeds its short term liabilities ($76.3M)
Long Term Liabilities: MODN's short term assets ($94.5M) exceeds its long term liabilities (40.5M)
Debt to Equity History and Analysis
Debt Level: MODN's debt to equity ratio (84%) is considered high.
Reducing Debt: Insufficient data to determine if MODN's debt to equity ratio has reduced over the past 5 years.
Balance Sheet
Inventory Level: MODN has a low level of unsold assets or inventory.
Debt Coverage by Assets: MODN's debt is covered by short term assets (assets are 2.1x debt).
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 MODN has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: MODN is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 104.2% per year.
Next Steps
Dividend
What is Model N's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: Unable to evaluate MODN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate MODN's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if MODN's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if MODN'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 MODN's dividend in 3 years as they are not forecast to pay a notable one for the US market.
Next Steps
Management
What is the CEO of Model N's salary, the management and board of directors tenure and is there insider trading?
1.4yrs
Average management tenure
CEO
Jason Blessing (47yo)
1.5yrs
Tenure
US$5,934,041
Compensation
Mr. Jason Blessing serves as Chief Executive Officer and Director of Model N, Inc. since effective May 10, 2018. Mr. Blessing served as Senior Vice President of product development at Oracle and oversees t ...
CEO Compensation Analysis
Compensation vs Market: Jason's total compensation ($USD5.93M) is above average for companies of similar size in the US market ($USD2.63M).
Compensation vs Earnings: Insufficient data to compare Jason's compensation with company performance.
Management Age and Tenure
1.4yrs
Average Tenure
47yo
Average Age
Experienced Management: MODN's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.
Board Age and Tenure
1.5yrs
Average Tenure
55yo
Average Age
Experienced Board: MODN's board of directors are not considered experienced ( 1.5 years average tenure), which suggests a new board.
Insider Trading
Insider Buying: MODN insiders have only sold shares in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Shares | 1,250 |
| Max Price | US$32.26 |
| Entity | Individual |
| Shares | 2,209 |
| Max Price | US$31.26 |
| Entity | Individual |
| Role | Senior Key Executive Senior Vice President of Global Services |
| Shares | 1,672 |
| Max Price | US$31.26 |
| Entity | Individual |
| Role | Chief Executive Officer CEO & Director |
| Shares | 16,703 |
| Max Price | US$31.26 |
| Entity | Individual |
| Role | Chief Financial Officer Senior VP & CFO |
| Shares | 3,965 |
| Max Price | US$31.26 |
| Entity | Individual |
| Role | Senior Key Executive Senior Vice President of Global Services |
| Shares | 2,600 |
| Max Price | US$27.26 |
| Entity | Individual |
| Role | Chief Executive Officer CEO & Director |
| Shares | 4,326 |
| Max Price | US$26.12 |
| Entity | Individual |
| Role | Chief Financial Officer Senior VP & CFO |
| Shares | 1,522 |
| Max Price | US$26.12 |
| Entity | Individual |
| Role | Senior Key Executive Senior Vice President of Global Services |
| Shares | 550 |
| Max Price | US$26.12 |
| Entity | Individual |
| Shares | 5,736 |
| Max Price | US$26.12 |
| Entity | Individual |
| Role | Chief Financial Officer Senior VP & CFO |
| Shares | 8,031 |
| Max Price | US$18.89 |
| Entity | Individual |
| Role | Chief Executive Officer CEO & Director |
| Shares | 12,022 |
| Max Price | US$18.89 |
| Entity | Individual |
| Role | Senior Key Executive Senior Vice President of Global Services |
| Shares | 2,219 |
| Max Price | US$18.89 |
| Entity | Individual |
| Shares | 780 |
| Max Price | US$18.89 |
| Entity | Individual |
| Role | Senior Key Executive Senior Vice President of Global Services |
| Shares | 4,000 |
| Max Price | US$18.59 |
| Entity | Individual |
| Role | Senior Key Executive Senior Vice President of Global Services |
| Shares | 12,114 |
| Max Price | US$17.06 |
| Entity | Individual |
| Shares | 7,725 |
| Max Price | US$17.06 |
| Entity | Individual |
| Shares | 24,518 |
| Max Price | US$17.06 |
| Entity | Individual |
| Role | Chief Financial Officer Senior VP & CFO |
| Shares | 10,671 |
| Max Price | US$17.06 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 12,914 |
| Max Price | US$17.08 |
| Entity | Individual |
| Shares | 945 |
| Max Price | US$16.50 |
| Entity | Individual |
| Role | Chief Executive Officer CEO & Director |
| Shares | 1,733 |
| Max Price | US$16.50 |
| Entity | Individual |
| Role | Senior Key Executive Senior Vice President of Global Services |
| Shares | 2,660 |
| Max Price | US$16.50 |
| Entity | Individual |
| Role | Chief Financial Officer Senior VP & CFO |
| Shares | 1,288 |
| Max Price | US$16.50 |
| Entity | Individual |
| Shares | 5,319 |
| Max Price | US$16.50 |
| Entity | Individual |
| Shares | 16,507 |
| Max Price | US$15.08 |
| Entity | Individual |
| Shares | 532,327 |
| Max Price | US$16.32 |
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 6.1%.
Management Team
Mark Anderson (58yo)
Senior Vice President of Global Services
- Tenure: 3.6yrs
- Compensation: US$841.82k
Jason Blessing (47yo)
CEO & Director
- Tenure: 1.5yrs
- Compensation: US$5.93m
Chanan Greenberg
Senior VP & GM of High Tech
- Tenure: 2.5yrs
Suresh Kannan
Senior VP & Chief Product Officer
- Tenure: 0.2yrs
David Barter (47yo)
Senior VP & CFO
- Tenure: 2.5yrs
- Compensation: US$1.10m
Chris Lyon
Chief Revenue Officer
- Tenure: 0.6yrs
Errol Hunter
Senior VP & General Counsel
- Tenure: 0yrs
Dave Michaud
Chief Marketing Officer
- Tenure: 0yrs
Rehmann Rayani
Vice President of Corporate Strategy
- Tenure: 1.3yrs
Laura Selig (47yo)
Senior VP & Chief People Officer
- Tenure: 1yrs
Board Members
Tim Adams (59yo)
Independent Director
- Tenure: 2.9yrs
- Compensation: US$161.86k
Dave Yarnold (59yo)
Independent Director
- Tenure: 0.9yrs
Alan Henricks (68yo)
Independent Director
- Tenure: 4.5yrs
- Compensation: US$160.08k
Scott Reese
Director
- Tenure: 0.5yrs
Bal Dail (51yo)
Chairman of the Board
- Tenure: 0.8yrs
- Compensation: US$150.81k
Jason Blessing (47yo)
CEO & Director
- Tenure: 1.5yrs
- Compensation: US$5.93m
Melissa Fisher (46yo)
Independent Director
- Tenure: 3.3yrs
- Compensation: US$153.50k
Company Information
Model N, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Model N, Inc.
- Ticker: MODN
- Exchange: NYSE
- Founded: 1999
- Industry: Application Software
- Sector: Software
- Market Cap: US$974.674m
- Shares outstanding: 33.00m
- Website: https://www.modeln.com
Number of Employees
Location
- Model N, Inc.
- 777 Mariners Island Boulevard
- Suite 300
- San Mateo
- California
- 94404
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| MODN | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Mar 2013 |
| 2MD | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Mar 2013 |
| 0K24 | LSE (London Stock Exchange) | Yes | Common Stock | GB | USD | Mar 2013 |
Biography
Model N, Inc. provides revenue management cloud solutions for the life sciences and technology companies. The company’s cloud-based revenue management solutions include Revenue Cloud for Pharma, Revenue Cl ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/11/23 00:50 |
| End of Day Share Price | 2019/11/22 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2019/09/30 |
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.