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Mitek Systems Inc
MITK : NASDAQ : Technology
$4.28 -0.17 | -3.90%
Today's Range: 4.20 - 4.50
Avg. Daily Volume: 670,100
02/09/16 - 3:59 PM ET

Financial Analysis


MITEK SYSTEMS INC's gross profit margin for the first quarter of its fiscal year 2016 has decreased when compared to the same period a year ago. Even though sales increased, the net income has decreased, representing a decrease to the bottom line. MITEK SYSTEMS INC is extremely liquid. Currently, the Quick Ratio is 4.02 which clearly shows the ability to cover any short-term cash needs. The company's liquidity has decreased from the same period last year, indicating deteriorating cash flow.

At the same time, stockholders' equity ("net worth") has greatly increased by 25.92% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is very unlikely to face financial difficulties in the near future.

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Income Statement Q1 FY16 Q1 FY15
Net Sales ($mil)7.415.39
EBITDA ($mil)0.00.24
EBIT ($mil)0.20.13
Net Income ($mil)-0.320.15


Balance Sheet Q1 FY16 Q1 FY15
Cash & Equiv. ($mil)25.4626.94
Total Assets ($mil)39.6832.25
Total Debt ($mil)0.00.0
Equity ($mil)31.3724.91


Profitability Q1 FY16 Q1 FY15
Gross Profit Margin87.2792.78
EBITDA Margin0.04.49
Operating Margin2.712.49
Sales Turnover0.690.62
Return on Assets5.18-11.4
Return on Equity6.56-14.76
Debt Q1 FY16 Q1 FY15
Current Ratio4.134.79
Debt/Capital0.00.0
Interest Expense0.00.0
Interest Coverage0.00.0


Share Data Q1 FY16 Q1 FY15
Shares outstanding (mil)31.8630.66
Div / share0.00.0
EPS-0.010.0
Book value / share0.980.81
Institutional Own % n/a n/a
Avg Daily Volume714660.0214882.0

Valuation


HOLD. MITEK SYSTEMS INC's P/E ratio indicates a significant premium compared to an average of 41.32 for the Software industry and a significant premium compared to the S&P 500 average of 21.13. For additional comparison, its price-to-book ratio of 4.75 indicates a significant premium versus the S&P 500 average of 2.51 and a discount versus the industry average of 5.92. The current price-to-sales ratio is well above the S&P 500 average and above the industry average, indicating a premium. The valuation analysis reveals that, MITEK SYSTEMS INC seems to be trading at a premium to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
MITK 66.86 Peers 41.32   MITK NA Peers 18.94

Premium. A higher P/E ratio than its peers can signify a more expensive stock or higher growth expectations.

MITK is trading at a significant premium to its peers.

 

Neutral. The P/CF ratio is the stock’s price divided by the sum of the company's cash flow from operations. It is useful for comparing companies with different capital requirements or financing structures.

Ratio not available.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
MITK 16.14 Peers 29.69   MITK 0.40 Peers 0.73

Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations.

MITK is trading at a significant discount to its peers.

 

Discount. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

MITK trades at a significant discount to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
MITK 4.75 Peers 5.92   MITK 158.33 Peers -14.04

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

MITK is trading at a discount to its peers.

 

Higher. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

MITK is expected to have an earnings growth rate that significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
MITK 5.45 Peers 5.24   MITK 36.39 Peers 6.89

Average. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

MITK is trading at a valuation on par with its industry on this measurement.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

MITK has a sales growth rate that significantly exceeds its peers.

 

 

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