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Catalyst Potential

It is important to look beyond the numbers and seek a likely catalysts, which could unlock value, and estimate how long it will take for the catalyst to play out. These events, or Catalyst Potential, reduce risk by narrowing the gap between price and value in a more predictable way. This is particularly important when investing in a low-quality business where time is like a ticking bomb stacked against the company.

Catalyst Potential is a Premium members feature in Redeye Universe.

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Redeye Rating

Joel Westerström

Equity Analyst

joel.westerstrom@redeye.se

+46735116853

Company Quality

  • 6.0
  • 4.0
  • 7.0
  • 7.0
  • 7.5

Leadership

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Our leadership rating is based on execution, capital allocation, communication, experience and compensation. We look at senior management as well as the board of directors and we value an extensive history of high performance on our parameters. We believe FPC has taken several steps to improve its communication, though we still feel the company needs to improve its communication to its stakeholders further. When it comes to compensation, the surging share price has previously resulted in lucrative incentive programs as well as a rather high dilution. Although we believe senior management should be rewarded for a job well done, we believe incentive programs should not be overly generous. The experience of the board and senior management looks great when looking at their résumés, though we wish to see how the new additions contribute before we raise our rating. Finally, we have no remarks on how FPC allocates its capital. We leave our rating at six.

Ownership

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Profit outlook

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Profitability

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Capital Strength

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Key Model Assumptions - The Bear Case

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Key Model Assumptions - The Bull Case

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Key Model Assumptions - The Base Case

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Latest price

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Fair Value Range

Last Price
Key Model Assumptions - The Bear Case
Key Model Assumptions - The Bull Case
Key Model Assumptions - The Base Case

Catalyst Potential

Impact

Timeframe

Short
Mid
Long

Fundamental view , Fingerprint Cards 2017/03/30

Fundamental view, Fingerprint Cards 2017/03/30

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