Mitek Systems Inc

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MITK : NASDAQ : Technology
$6.5 | %
Today's Range: 6.25 - 6.65
Avg. Daily Volume: 388900.0
12/09/16 - 4:00 PM ET

Financial Analysis


MITEK SYSTEMS INC's gross profit margin for the fourth quarter of its fiscal year 2016 has decreased when compared to the same period a year ago. Sales and net income have grown, and although the growth in revenues has outpaced the average competitor within the industry, the net income growth has not. MITEK SYSTEMS INC is extremely liquid. Currently, the Quick Ratio is 4.66 which clearly shows the ability to cover any short-term cash needs. MITK managed to increase the liquidity from the same period a year ago, despite already having very strong liquidity to begin with. This would indicate improved cash flow.

At the same time, stockholders' equity ("net worth") has greatly increased by 29.74% 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 Q4 FY16 Q4 FY15
Net Sales ($mil)9.677.87
EBITDA ($mil)0.01.77
EBIT ($mil)0.841.51
Net Income ($mil)0.960.96


Balance Sheet Q4 FY16 Q4 FY15
Cash & Equiv. ($mil)33.8726.67
Total Assets ($mil)48.3938.75
Total Debt ($mil)0.00.0
Equity ($mil)39.4930.43


Profitability Q4 FY16 Q4 FY15
Gross Profit Margin84.7492.82
EBITDA Margin0.022.53
Operating Margin8.719.24
Sales Turnover0.720.65
Return on Assets4.046.51
Return on Equity4.968.3
Debt Q4 FY16 Q4 FY15
Current Ratio4.844.24
Debt/Capital0.00.0
Interest Expense0.00.0
Interest Coverage0.00.0


Share Data Q4 FY16 Q4 FY15
Shares outstanding (mil)32.7831.72
Div / share0.00.0
EPS0.030.03
Book value / share1.20.96
Institutional Own % n/a n/a
Avg Daily Volume392159.0644286.0

Valuation


HOLD. MITEK SYSTEMS INC's P/E ratio indicates a significant premium compared to an average of 48.70 for the Software industry and a significant premium compared to the S&P 500 average of 25.37. To use another comparison, its price-to-book ratio of 4.90 indicates a significant premium versus the S&P 500 average of 2.81 and a significant discount versus the industry average of 7.65. The current price-to-sales ratio is well above the S&P 500 average, but below the industry average.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
MITK 98.33 Peers 48.70   MITK NA Peers 22.15

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 20.34 Peers 27.77   MITK NA Peers 0.78

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

Ratio not available.

 

Neutral. 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.

Ratio not available.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
MITK 4.90 Peers 7.65   MITK -25.00 Peers 25.33

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 significant discount to its peers.

 

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

However, MITK is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
MITK 5.57 Peers 5.58   MITK 36.79 Peers 4.80

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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