MITEK SYSTEMS INC (MITK)
US6067102003 - Common Stock
Overall MITK gets a fundamental rating of 4 out of 10. We evaluated MITK against 278 industry peers in the Software industry. MITK has only an average score on both its financial health and profitability. MITK is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year MITK was profitable.
In the past year MITK had a positive cash flow from operations.
Of the past 5 years MITK 4 years were profitable.
Of the past 5 years MITK 4 years had a positive operating cash flow.
1.2 Ratios
MITK has a Return On Assets of -1.65%. This is comparable to the rest of the industry: MITK outperforms 57.91% of its industry peers.
MITK's Return On Equity of -3.21% is fine compared to the rest of the industry. MITK outperforms 60.07% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -1.65% | ||
| ROE | -3.21% | ||
| ROIC | N/A |
ROA(3y)1.57%
ROA(5y)1.76%
ROE(3y)3.27%
ROE(5y)3.01%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
MITK's Profit Margin has declined in the last couple of years.
In the last couple of years the Operating Margin of MITK has remained more or less at the same level.
With an excellent Gross Margin value of 85.28%, MITK belongs to the best of the industry, outperforming 92.09% of the companies in the same industry.
In the last couple of years the Gross Margin of MITK has remained more or less at the same level.
MITK does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | N/A | ||
| GM | 85.29% |
OM growth 3Y0.55%
OM growth 5YN/A
PM growth 3Y-15.46%
PM growth 5YN/A
GM growth 3Y-0.1%
GM growth 5Y0.09%
2. Health
2.1 Basic Checks
MITK does not have a ROIC to compare to the WACC, probably because it is not profitable.
MITK has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
2.2 Solvency
An Altman-Z score of 2.24 indicates that MITK is not a great score, but indicates only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 2.24, MITK is in line with its industry, outperforming 46.04% of the companies in the same industry.
MITK has a debt to FCF ratio of 11.48. This is a negative value and a sign of low solvency as MITK would need 11.48 years to pay back of all of its debts.
MITK has a Debt to FCF ratio (11.48) which is in line with its industry peers.
MITK has a Debt/Equity ratio of 0.69. This is a neutral value indicating MITK is somewhat dependend on debt financing.
MITK has a Debt to Equity ratio of 0.69. This is in the lower half of the industry: MITK underperforms 70.50% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.69 | ||
| Debt/FCF | 11.48 | ||
| Altman-Z | 2.24 |
ROIC/WACCN/A
WACC10.55%
2.3 Liquidity
A Current Ratio of 4.46 indicates that MITK has no problem at all paying its short term obligations.
With an excellent Current ratio value of 4.46, MITK belongs to the best of the industry, outperforming 84.89% of the companies in the same industry.
MITK has a Quick Ratio of 4.46. This indicates that MITK is financially healthy and has no problem in meeting its short term obligations.
MITK's Quick ratio of 4.46 is amongst the best of the industry. MITK outperforms 84.89% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 4.46 | ||
| Quick Ratio | 4.46 |
3. Growth
3.1 Past
MITK shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 1.05%.
Measured over the past years, MITK shows a quite strong growth in Earnings Per Share. The EPS has been growing by 17.42% on average per year.
EPS 1Y (TTM)1.05%
EPS 3Y8.58%
EPS 5Y17.42%
EPS Q2Q%120%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%14.78%
3.2 Future
MITK is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 3.34% yearly.
MITK is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 8.34% yearly.
EPS Next Y-11.99%
EPS Next 2Y3.34%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year5.51%
Revenue Next 2Y8.34%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 11.21 indicates a reasonable valuation of MITK.
Compared to the rest of the industry, the Price/Earnings ratio of MITK indicates a rather cheap valuation: MITK is cheaper than 93.17% of the companies listed in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 28.77, MITK is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 12.74, the valuation of MITK can be described as correct.
Compared to the rest of the industry, the Price/Forward Earnings ratio of MITK indicates a rather cheap valuation: MITK is cheaper than 91.01% of the companies listed in the same industry.
MITK's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 23.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.21 | ||
| Fwd PE | 12.74 |
4.2 Price Multiples
MITK's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. MITK is cheaper than 71.22% of the companies in the same industry.
MITK's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. MITK is cheaper than 70.50% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 39.66 | ||
| EV/EBITDA | 40.93 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)0.64
EPS Next 2Y3.34%
EPS Next 3YN/A
5. Dividend
5.1 Amount
MITK does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
MITEK SYSTEMS INC
NASDAQ:MITK (12/18/2024, 4:42:05 PM)
After market: 10.55 -0.21 (-1.95%)10.76
-0.17 (-1.56%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap497.11M
Analysts
Price Target
Short Float %
Short Ratio
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
Avg EPS beat(4)
Min EPS beat(4)
Max EPS beat(4)
EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
Avg Revenue beat(4)
Min Revenue beat(4)
Max Revenue beat(4)
Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
Avg Revenue beat(12)
Revenue beat(16)
Avg Revenue beat(16)
PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.21 | ||
| Fwd PE | 12.74 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)0.64
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -1.65% | ||
| ROE | -3.21% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | N/A | ||
| PM (TTM) | N/A | ||
| GM | 85.29% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.41
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.69 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 4.46 | ||
| Quick Ratio | 4.46 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
High Growth Momentum
Growth
EPS 1Y (TTM)1.05%
EPS 3Y8.58%
EPS 5Y
EPS Q2Q%
EPS Next Y-11.99%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5Y
Sales Q2Q%
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y