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SMARTPHOTO GROUP (SMAR.BR) Stock Fundamental Analysis

EBR:SMAR - Euronext Brussels - BE0974323553 - Common Stock - Currency: EUR

20.9  -0.1 (-0.48%)

Fundamental Rating

6

SMAR gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 44 industry peers in the Commercial Services & Supplies industry. SMAR gets an excellent profitability rating and is at the same time showing great financial health properties. SMAR has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

SMAR had positive earnings in the past year.
In the past year SMAR had a positive cash flow from operations.
SMAR had positive earnings in each of the past 5 years.
SMAR had a positive operating cash flow in each of the past 5 years.
SMAR.BR Yearly Net Income VS EBIT VS OCF VS FCFSMAR.BR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2M 4M 6M 8M 10M

1.2 Ratios

SMAR has a better Return On Assets (8.92%) than 87.80% of its industry peers.
SMAR's Return On Equity of 13.44% is fine compared to the rest of the industry. SMAR outperforms 68.29% of its industry peers.
SMAR has a Return On Invested Capital of 11.18%. This is amongst the best in the industry. SMAR outperforms 87.80% of its industry peers.
SMAR had an Average Return On Invested Capital over the past 3 years of 11.35%. This is above the industry average of 7.78%.
Industry RankSector Rank
ROA 8.92%
ROE 13.44%
ROIC 11.18%
ROA(3y)7.27%
ROA(5y)8.88%
ROE(3y)12.19%
ROE(5y)14.43%
ROIC(3y)11.35%
ROIC(5y)10.68%
SMAR.BR Yearly ROA, ROE, ROICSMAR.BR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 5 10 15

1.3 Margins

The Profit Margin of SMAR (7.91%) is better than 82.93% of its industry peers.
In the last couple of years the Profit Margin of SMAR has remained more or less at the same level.
With a decent Operating Margin value of 10.69%, SMAR is doing good in the industry, outperforming 70.73% of the companies in the same industry.
SMAR's Operating Margin has improved in the last couple of years.
SMAR has a better Gross Margin (74.21%) than 80.49% of its industry peers.
In the last couple of years the Gross Margin of SMAR has remained more or less at the same level.
Industry RankSector Rank
OM 10.69%
PM (TTM) 7.91%
GM 74.21%
OM growth 3Y-4.33%
OM growth 5Y2.88%
PM growth 3Y-13.17%
PM growth 5Y0.53%
GM growth 3Y3.01%
GM growth 5Y1.38%
SMAR.BR Yearly Profit, Operating, Gross MarginsSMAR.BR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 20 40 60

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8

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so SMAR is still creating some value.
The number of shares outstanding for SMAR has been reduced compared to 1 year ago.
Compared to 5 years ago, SMAR has less shares outstanding
The debt/assets ratio for SMAR has been reduced compared to a year ago.
SMAR.BR Yearly Shares OutstandingSMAR.BR Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 1M 2M 3M
SMAR.BR Yearly Total Debt VS Total AssetsSMAR.BR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M

2.2 Solvency

An Altman-Z score of 3.84 indicates that SMAR is not in any danger for bankruptcy at the moment.
SMAR has a better Altman-Z score (3.84) than 90.24% of its industry peers.
The Debt to FCF ratio of SMAR is 0.83, which is an excellent value as it means it would take SMAR, only 0.83 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 0.83, SMAR belongs to the top of the industry, outperforming 87.80% of the companies in the same industry.
A Debt/Equity ratio of 0.11 indicates that SMAR is not too dependend on debt financing.
SMAR has a better Debt to Equity ratio (0.11) than 82.93% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.11
Debt/FCF 0.83
Altman-Z 3.84
ROIC/WACC1.57
WACC7.11%
SMAR.BR Yearly LT Debt VS Equity VS FCFSMAR.BR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M

2.3 Liquidity

SMAR has a Current Ratio of 1.26. This is a normal value and indicates that SMAR is financially healthy and should not expect problems in meeting its short term obligations.
SMAR has a Current ratio of 1.26. This is comparable to the rest of the industry: SMAR outperforms 46.34% of its industry peers.
SMAR has a Quick Ratio of 1.26. This is a bad value and indicates that SMAR is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.97, SMAR is in line with its industry, outperforming 48.78% of the companies in the same industry.
The current and quick ratio evaluation for SMAR is rather negative, while it does have excellent solvency and profitability. These ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
Industry RankSector Rank
Current Ratio 1.26
Quick Ratio 0.97
SMAR.BR Yearly Current Assets VS Current LiabilitesSMAR.BR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M

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4

3. Growth

3.1 Past

SMAR shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -0.40%.
The Earnings Per Share has been growing by 13.29% on average over the past years. This is quite good.
Looking at the last year, SMAR shows a small growth in Revenue. The Revenue has grown by 0.09% in the last year.
SMAR shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 10.69% yearly.
EPS 1Y (TTM)-0.4%
EPS 3Y-3.34%
EPS 5Y13.29%
EPS Q2Q%-63.33%
Revenue 1Y (TTM)0.09%
Revenue growth 3Y8.02%
Revenue growth 5Y10.69%
Sales Q2Q%-0.84%

3.2 Future

SMAR is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.94% yearly.
SMAR is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.34% yearly.
EPS Next Y-0.57%
EPS Next 2Y4.74%
EPS Next 3Y6.94%
EPS Next 5YN/A
Revenue Next Year6.49%
Revenue Next 2Y5.68%
Revenue Next 3Y5.34%
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
SMAR.BR Yearly Revenue VS EstimatesSMAR.BR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 20M 40M 60M 80M
SMAR.BR Yearly EPS VS EstimatesSMAR.BR Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2

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5

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 12.29, which indicates a correct valuation of SMAR.
Based on the Price/Earnings ratio, SMAR is valued a bit cheaper than 78.05% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 28.47. SMAR is valued rather cheaply when compared to this.
Based on the Price/Forward Earnings ratio of 10.67, the valuation of SMAR can be described as reasonable.
Based on the Price/Forward Earnings ratio, SMAR is valued a bit cheaper than 65.85% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of SMAR to the average of the S&P500 Index (92.74), we can say SMAR is valued rather cheaply.
Industry RankSector Rank
PE 12.29
Fwd PE 10.67
SMAR.BR Price Earnings VS Forward Price EarningsSMAR.BR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

SMAR's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. SMAR is cheaper than 60.98% of the companies in the same industry.
The rest of the industry has a similar Price/Free Cash Flow ratio as SMAR.
Industry RankSector Rank
P/FCF 10.71
EV/EBITDA 6.47
SMAR.BR Per share dataSMAR.BR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

SMAR has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.92
EPS Next 2Y4.74%
EPS Next 3Y6.94%

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4

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 3.43%, SMAR has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 3.80, SMAR pays a better dividend. On top of this SMAR pays more dividend than 85.37% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.28, SMAR pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.43%

5.2 History

The dividend of SMAR decreases each year by -21.98%.
Dividend Growth(5Y)-21.98%
Div Incr Years5
Div Non Decr Years5
SMAR.BR Yearly Dividends per shareSMAR.BR Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 0.2 0.4 0.6 0.8 1

5.3 Sustainability

60.89% of the earnings are spent on dividend by SMAR. This is not a sustainable payout ratio.
DP60.89%
EPS Next 2Y4.74%
EPS Next 3Y6.94%
SMAR.BR Yearly Income VS Free CF VS DividendSMAR.BR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2M 4M 6M 8M 10M
SMAR.BR Dividend Payout.SMAR.BR Dividend Payout, showing the Payout Ratio.SMAR.BR Dividend Payout.PayoutRetained Earnings

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SMARTPHOTO GROUP

EBR:SMAR (2/4/2025, 7:00:00 PM)

20.9

-0.1 (-0.48%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCommercial & Professional Services
GICS IndustryCommercial Services & Supplies
Earnings (Last)N/A N/A
Earnings (Next)N/A N/A
Inst Owners1.52%
Inst Owner ChangeN/A
Ins Owners37.9%
Ins Owner ChangeN/A
Market Cap82.35M
Analysts85.71
Price Target38.76 (85.45%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.43%
Yearly Dividend1
Dividend Growth(5Y)-21.98%
DP60.89%
Div Incr Years5
Div Non Decr Years5
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-13.86%
EPS NY rev (3m)-13.86%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)2.5%
Revenue NY rev (3m)2.5%
Valuation
Industry RankSector Rank
PE 12.29
Fwd PE 10.67
P/S 1.07
P/FCF 10.71
P/OCF 8.11
P/B 1.81
P/tB 3.65
EV/EBITDA 6.47
EPS(TTM)1.7
EY8.13%
EPS(NY)1.96
Fwd EY9.37%
FCF(TTM)1.95
FCFY9.34%
OCF(TTM)2.58
OCFY12.32%
SpS19.57
BVpS11.52
TBVpS5.73
PEG (NY)N/A
PEG (5Y)0.92
Profitability
Industry RankSector Rank
ROA 8.92%
ROE 13.44%
ROCE 15.58%
ROIC 11.18%
ROICexc 13.69%
ROICexgc 28.99%
OM 10.69%
PM (TTM) 7.91%
GM 74.21%
FCFM 9.97%
ROA(3y)7.27%
ROA(5y)8.88%
ROE(3y)12.19%
ROE(5y)14.43%
ROIC(3y)11.35%
ROIC(5y)10.68%
ROICexc(3y)19.72%
ROICexc(5y)17.61%
ROICexgc(3y)55.72%
ROICexgc(5y)46.72%
ROCE(3y)15.8%
ROCE(5y)14.88%
ROICexcg growth 3Y22.96%
ROICexcg growth 5Y9.07%
ROICexc growth 3Y8.14%
ROICexc growth 5Y10.44%
OM growth 3Y-4.33%
OM growth 5Y2.88%
PM growth 3Y-13.17%
PM growth 5Y0.53%
GM growth 3Y3.01%
GM growth 5Y1.38%
F-Score7
Asset Turnover1.13
Health
Industry RankSector Rank
Debt/Equity 0.11
Debt/FCF 0.83
Debt/EBITDA 0.39
Cap/Depr 61.89%
Cap/Sales 3.19%
Interest Coverage 47.1
Cash Conversion 83.06%
Profit Quality 126.03%
Current Ratio 1.26
Quick Ratio 0.97
Altman-Z 3.84
F-Score7
WACC7.11%
ROIC/WACC1.57
Cap/Depr(3y)81.35%
Cap/Depr(5y)75.78%
Cap/Sales(3y)4.09%
Cap/Sales(5y)3.87%
Profit Quality(3y)126.82%
Profit Quality(5y)120.56%
High Growth Momentum
Growth
EPS 1Y (TTM)-0.4%
EPS 3Y-3.34%
EPS 5Y13.29%
EPS Q2Q%-63.33%
EPS Next Y-0.57%
EPS Next 2Y4.74%
EPS Next 3Y6.94%
EPS Next 5YN/A
Revenue 1Y (TTM)0.09%
Revenue growth 3Y8.02%
Revenue growth 5Y10.69%
Sales Q2Q%-0.84%
Revenue Next Year6.49%
Revenue Next 2Y5.68%
Revenue Next 3Y5.34%
Revenue Next 5YN/A
EBIT growth 1Y-16.06%
EBIT growth 3Y3.34%
EBIT growth 5Y13.87%
EBIT Next Year55.56%
EBIT Next 3Y18.56%
EBIT Next 5YN/A
FCF growth 1Y35.04%
FCF growth 3Y-5.47%
FCF growth 5Y8.83%
OCF growth 1Y6.08%
OCF growth 3Y-3.89%
OCF growth 5Y10.53%