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SMRT

SmartRent NYSE:SMRT Stock Report

Last Price

US$4.71

Market Cap

US$920.0m

7D

-13.1%

1Y

-61.7%

Updated

27 Jun, 2022

Data

Company Financials +
SMRT fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance0/6
Financial Health5/6
Dividends0/6

SMRT Stock Overview

SmartRent, Inc., an enterprise software company, provides an integrated smart home operating system to residential property owners and operators, homebuilders, institutional home buyers, developers, and residents in the United States.

SmartRent Competitors

Price History & Performance

Summary of all time highs, changes and price drops for SmartRent
Historical stock prices
Current Share PriceUS$4.71
52 Week HighUS$15.14
52 Week LowUS$3.55
Beta0
1 Month Change-24.16%
3 Month Change-20.57%
1 Year Change-61.71%
3 Year Changen/a
5 Year Changen/a
Change since IPO-57.57%

Recent News & Updates

Jun 13

Sizing Up SmartRent

Shares of smart building solutions provider SmartRent, Inc. are down some 60% from their first trade in the public markets on August 25, 2021. The SPAC-birthed company’s high-flying revenue forecasts have been impacted by supply chain issues, but its top line is still expected to increase 112% in FY22 versus FY21. Operating in an industry projected to experience significant growth and now trading at 3.5x FY22E revenue net of cash, the recent insider buying into this busted IPO merited a deeper. A full investment analysis follows in the paragraphs below.

Shareholder Returns

SMRTUS ElectronicUS Market
7D-13.1%5.0%6.3%
1Y-61.7%-19.8%-18.8%

Return vs Industry: SMRT underperformed the US Electronic industry which returned -19.7% over the past year.

Return vs Market: SMRT underperformed the US Market which returned -18.4% over the past year.

Price Volatility

Is SMRT's price volatile compared to industry and market?
SMRT volatility
SMRT Average Weekly Movement12.0%
Electronic Industry Average Movement7.4%
Market Average Movement8.1%
10% most volatile stocks in US Market16.7%
10% least volatile stocks in US Market3.2%

Stable Share Price: SMRT is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 12% a week.

Volatility Over Time: SMRT's weekly volatility (12%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2017639Lucas Haldemanhttps://smartrent.com

SmartRent, Inc., an enterprise software company, provides an integrated smart home operating system to residential property owners and operators, homebuilders, institutional home buyers, developers, and residents in the United States. Its solution is designed to provide communities with visibility and control their assets while delivering cost savings and additional revenue opportunities through all-in-one home control offerings for residents. The company’s products and solutions include smart apartments and homes, access control for buildings, common areas, rental units, asset protection and monitoring, parking management, self-guided tours, and community and resident Wi-Fi.

SmartRent Fundamentals Summary

How do SmartRent's earnings and revenue compare to its market cap?
SMRT fundamental statistics
Market CapUS$920.01m
Earnings (TTM)-US$86.09m
Revenue (TTM)US$128.84m

7.1x

P/S Ratio

-10.7x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SMRT income statement (TTM)
RevenueUS$128.84m
Cost of RevenueUS$143.25m
Gross Profit-US$14.42m
Other ExpensesUS$71.67m
Earnings-US$86.09m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.44
Gross Margin-11.19%
Net Profit Margin-66.82%
Debt/Equity Ratio0.0%

How did SMRT perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is SMRT 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 SMRT?

Other financial metrics that can be useful for relative valuation.

SMRT 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/Revenue5x
Enterprise Value/EBITDA-7.2x
PEG Ration/a

Price to Sales Ratio vs Peers

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

SMRT PS Ratio vs Peers
The above table shows the PS ratio for SMRT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average21x
PAR PAR Technology
3.4x13.0%US$1.0b
HOLI Hollysys Automation Technologies
1.4xn/aUS$938.7m
NSSC Napco Security Technologies
5.6x16.7%US$767.0m
AEVA Aeva Technologies
73.4x67.0%US$741.1m
SMRT SmartRent
7.1x65.9%US$920.0m

Price-To-Sales vs Peers: SMRT is good value based on its Price-To-Sales Ratio (7.1x) compared to the peer average (21x).


Price to Earnings Ratio vs Industry

How does SMRT's PE Ratio compare vs other companies in the US Electronic Industry?

Price-To-Sales vs Industry: SMRT is expensive based on its Price-To-Sales Ratio (7.1x) compared to the US Electronic industry average (1.8x)


Price to Sales Ratio vs Fair Ratio

What is SMRT'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.

SMRT PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio7.1x
Fair PS Ratio2x

Price-To-Sales vs Fair Ratio: SMRT is expensive based on its Price-To-Sales Ratio (7.1x) compared to the estimated Fair Price-To-Sales Ratio (2x).


Share Price vs Fair Value

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

Below Fair Value: SMRT ($4.71) is trading below our estimate of fair value ($55.86)

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


Price to Earnings Growth Ratio

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


Discover undervalued companies

Future Growth

How is SmartRent forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


95.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

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

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

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

Revenue vs Market: SMRT's revenue (65.9% per year) is forecast to grow faster than the US market (8.4% per year).

High Growth Revenue: SMRT's revenue (65.9% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

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


Discover growth companies

Past Performance

How has SmartRent 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


-120.2%

Last years earnings growth

Earnings and Revenue History

Quality Earnings: SMRT is currently unprofitable.

Growing Profit Margin: SMRT is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if SMRT's year-on-year earnings growth rate was positive over the past 5 years.

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

Earnings vs Industry: SMRT is unprofitable, making it difficult to compare its past year earnings growth to the Electronic industry (33%).


Return on Equity

High ROE: SMRT has a negative Return on Equity (-20.01%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is SmartRent'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: SMRT's short term assets ($418.0M) exceed its short term liabilities ($105.0M).

Long Term Liabilities: SMRT's short term assets ($418.0M) exceed its long term liabilities ($64.8M).


Debt to Equity History and Analysis

Debt Level: SMRT is debt free.

Reducing Debt: SMRT had no debt 5 years ago.


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: SMRT has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if SMRT has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Discover healthy companies

Dividend

What is SmartRent 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 SMRT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

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

Growing Dividend: Insufficient data to determine if SMRT'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 SMRT has not reported any payouts.


Discover strong dividend paying companies

Management

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

0.7yrs

Average management tenure


CEO

Lucas Haldeman (43 yo)

no data

Tenure

US$4,939,575

Compensation

Mr. Lucas Merwan Haldeman is the Co-Founder, Chief Executive Officer and Director of SmartRent, Inc. He serves as Chairman at SmartRent, Inc. He served as the Chief Technology and Marketing Officer of Colo...


CEO Compensation Analysis

Compensation vs Market: Lucas's total compensation ($USD4.94M) is about average for companies of similar size in the US market ($USD4.02M).

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


Leadership Team

Experienced Management: SMRT's management team is not considered experienced ( 0.7 years average tenure), which suggests a new team.


Board Members

Experienced Board: SMRT's board of directors are not considered experienced ( 0.8 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: SMRT insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

SmartRent, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: SmartRent, Inc.
  • Ticker: SMRT
  • Exchange: NYSE
  • Founded: 2017
  • Industry: Electronic Equipment and Instruments
  • Sector: Tech
  • Implied Market Cap: US$920.013m
  • Shares outstanding: 195.33m
  • Website: https://smartrent.com

Number of Employees


Location

  • SmartRent, Inc.
  • East Hartford Drive, 8665
  • Suite 200
  • Scottsdale
  • Arizona
  • 85255
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/27 00:00
End of Day Share Price2022/06/27 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.