Mitek Systems Inc

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MITK : NASDAQ : Technology
$7.15 up 0.03 | 0.42%
Today's Range: 6.88 - 7.23
Avg. Daily Volume: 389,300
10/21/16 - 3:59 PM ET

Financial Analysis

MITEK SYSTEMS INC's gross profit margin for the third quarter of its fiscal year 2016 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 3.69 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 31.29% 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 Q3 FY16 Q3 FY15
Net Sales ($mil)9.116.44
EBITDA ($mil)1.361.18
EBIT ($mil)1.11.05
Net Income ($mil)0.740.92

Balance Sheet Q3 FY16 Q3 FY15
Cash & Equiv. ($mil)24.9223.95
Total Assets ($mil)45.9436.94
Total Debt ($mil)0.00.0
Equity ($mil)36.9828.16

Profitability Q3 FY16 Q3 FY15
Gross Profit Margin92.5192.84
EBITDA Margin14.9118.27
Operating Margin12.0416.24
Sales Turnover0.720.62
Return on Assets4.254.25
Return on Equity5.285.58
Debt Q3 FY16 Q3 FY15
Current Ratio3.873.68
Interest Expense0.00.0
Interest Coverage0.00.0

Share Data Q3 FY16 Q3 FY15
Shares outstanding (mil)32.7330.86
Div / share0.00.0
Book value / share1.130.91
Institutional Own % n/a n/a
Avg Daily Volume421906.0859367.0


HOLD. MITEK SYSTEMS INC's P/E ratio indicates a significant premium compared to an average of 57.79 for the Software industry and a significant premium compared to the S&P 500 average of 24.54. For additional comparison, its price-to-book ratio of 6.37 indicates a significant premium versus the S&P 500 average of 2.72 and a discount versus the industry average of 7.35. The price-to-sales ratio is well above both the S&P 500 average and 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.

1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
MITK 120.00 Peers 57.79   MITK 32.98 Peers 23.39

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.

1 2 3 4 5
premium   discount
  Price to
1 2 3 4 5
premium   discount
MITK 24.83 Peers 31.39   MITK 0.56 Peers 0.84

Average. An average price-to-projected earnings ratio can signify an industry neutral stock price and average future growth expectations.

MITK is trading at a valuation on par with 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.

1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
MITK 6.37 Peers 7.35   MITK 20.00 Peers 34.87

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.


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.

1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
MITK 7.16 Peers 5.66   MITK 42.74 Peers 4.53

Premium. 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 significant premium to its industry.


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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