Mitek Systems Inc

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MITK : NASDAQ : Technology
$6.0 -0.05 | -0.83%
Today's Range: 5.95 - 6.075
Avg. Daily Volume: 297900.0
02/22/17 - 4:00 PM ET

Financial Analysis


MITEK SYSTEMS INC's gross profit margin for the first quarter of its fiscal year 2017 is essentially unchanged 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 6.61 which clearly shows the ability to cover any short-term cash needs. The company's liquidity has increased from the same period last year.

At the same time, stockholders' equity ("net worth") has greatly increased by 27.31% 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 FY17 Q1 FY16
Net Sales ($mil)9.277.41
EBITDA ($mil)0.020.31
EBIT ($mil)-0.30.05
Net Income ($mil)-0.61-0.32


Balance Sheet Q1 FY17 Q1 FY16
Cash & Equiv. ($mil)34.5325.46
Total Assets ($mil)46.6939.68
Total Debt ($mil)0.00.0
Equity ($mil)39.9431.37


Profitability Q1 FY17 Q1 FY16
Gross Profit Margin92.2288.74
EBITDA Margin0.174.18
Operating Margin-3.220.7
Sales Turnover0.780.69
Return on Assets3.585.18
Return on Equity4.196.56
Debt Q1 FY17 Q1 FY16
Current Ratio6.84.13
Debt/Capital0.00.0
Interest Expense0.00.0
Interest Coverage0.00.0


Share Data Q1 FY17 Q1 FY16
Shares outstanding (mil)33.2731.86
Div / share0.00.0
EPS-0.02-0.01
Book value / share1.20.98
Institutional Own % n/a n/a
Avg Daily Volume305853.0371714.0

Valuation


HOLD. MITEK SYSTEMS INC's P/E ratio indicates a significant premium compared to an average of 52.26 for the Software industry and a significant premium compared to the S&P 500 average of 26.35. To use another comparison, its price-to-book ratio of 4.96 indicates a significant premium versus the S&P 500 average of 2.94 and a significant discount versus the industry average of 8.61. The price-to-sales ratio is well above the S&P 500 average, but well below the industry average.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
MITK 119.00 Peers 52.26   MITK 34.86 Peers 22.80

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.

 

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

MITK is trading at a significant premium to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
MITK 17.50 Peers 58.04   MITK 0.33 Peers 0.83

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 4.96 Peers 8.61   MITK -28.58 Peers 37.37

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 5.41 Peers 6.10   MITK 33.53 Peers 7.50

Discount. 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 discount to 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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