Onespan Inc.

Technology
EDP Services
www.onespan.com

Earnings Score
Moat Score

Market Cap $707.40M
PE 25
Debt $NaN
Cash $77.83M
EV $NaN
FCF $35.62M

Earnings

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Sales & Net Margins

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Earnings	$28.74M
EBIT	$34.36M
ROE	15%
ROA	12%
FCF	$35.62M
Equity	$194.59M
Growth Stability	-1K%
PE	24.62
PEG	4.96
PB	3.64
P/FCF	19.86
P/S	2.89
Price/Cash	0.11
Net Margins	16%
Gross Margins	71%
Op. Margins	14%
Earnings CAGR	-0%
Sales Growth YoY	-4%
Sales Growth QoQ	-8%
Sales CAGR	2%
FCF CAGR	-3%
Equity CAGR	-3%
Earnings Stability	0

Earnings Growth YoY	-300%
Earnings Growth QoQ	26%
Earnings CAGR 5Y	5%
Sales CAGR 5Y	-0%
FCF CAGR 5Y	1%
Equity CAGR 5Y	-10%
Earnings CAGR 3Y	6%
Sales CAGR 3Y	6%
Equity CAGR 3Y	-8%
Market Cap	$707.40M
Revenue	$244.94M
Assets	$289.27M
Cash	$77.83M
Shares Outstanding	37.91M
Earnings Score	6%
Moat Score	94%
Working Capital	61.43M
Current Ratio	1.76
Gross Profit	$172.75M
Shares Growth 3y	-2%
Equity Growth QoQ	9%
Equity Growth YoY	10%

Assets & ROA

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Stockholders Equity & ROE

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OneSpan Inc is a provider of information technology security solutions for banking and financial services and application security markets. Its solutions secure and manage access to digital assets and protect online transactions, via mobile devices and in-person. Authentication and anti-fraud solutions are the organization's primary product offerings and include multifactor authentication and virtual private network access capabilities. The company derives revenues from hardware and license fees, maintenance and support fees, and subscription fees. A large majority of the firm's revenue is generated in Europe, Middle East and Africa, and the rest in the United States and Asia-Pacific region.

SEC Filings

Direct access to Onespan Inc. (OSPN) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Onespan Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Onespan Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -0%

Stability 0%

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Onespan Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Onespan Inc..

Years

Calculation mode

= $300M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$36M	$35M	$34M	$33M	$32M	$31M	$30M	$30M	$29M	$28M	$27M	$274M
DCF		$32M	$28M	$25M	$22M	$19M	$17M	$15M	$13M	$12M	$11M	$106M
Value	$300M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	17%	17%	5%	-12%	2%	3%	-3%	-14%	-7%	-13%	16%
ROA	-	16%	3%	2%	1%	4%	-1%	-8%	-3%	-9%	12%
ROE	-	17%	4%	-9%	2%	3%	-2%	-14%	-7%	-19%	15%

Good Net Margins (15.55%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	-	-	-	-	-	-	-	-	-
Debt over Equity	-	-	-	-	-	-	-	-	-	-	-
Growth Stability	-	-	-	-78%	38%	-	-	-1K%	-	-	-1K%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (-1K%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	20%	-20%	1%	10%	20%	-15%	-1%	2%	7%	-0%
Earnings YoY growth	-	26%	-75%	-313%	-117%	129%	-162%	461%	-53%	106%	5%
Equity YoY growth	-	20%	3%	-7%	6%	5%	-3%	-15%	-7%	-22%	-10%
FCF YoY growth	-	81%	-61%	-45%	-117%	-539%	10%	-142%	119%	115%	1%