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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

Tomas Otterbeck

Equity Analyst

tomas.otterbeck@redeye.se

+46854501330

Company Quality

  • 8.0
  • 9.0
  • 6.5
  • 6.0
  • 5.5

Leadership

Exclusive for members
The current leadership has delivered in terms of both growth and profitability over an extended time horizon. The allocation of capital by management can be considered value-accretive by observing its track record. Albeit, the management track record performance was largely during the pre-IPO era making the decisions of management hard to follow and interpret. Transparency could be increased to some extent in terms of more detailed segment revenues for example. Although, management has historically allowed Verisec to grow with profitability at a pace it can handle.

Ownership

Exclusive for members

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Profit outlook

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Profitability

Exclusive for members

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Capital Strength

Exclusive for members

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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

Exclusive for members

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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

Company description

Verisec is a software security company providing digital identity solutions, including mobile ID, and information security solutions such as encryption and decryption. Since it was founded, Verisec's skilled management team has been quick to adapt to the market environment, enabling the company to outgrow the security market as a whole. Verisec's management originates from the successful Protect Data business, and they retain significant ownership in Verisec of approximately 60 percent. Read more...
Verisec is a software security company providing digital identity solutions, including mobile ID, and information security solutions such as encryption and decryption. Since it was founded, Verisec's skilled management team has been quick to adapt to the market environment, enabling the company to outgrow the security market as a whole. Verisec's management originates from the successful Protect Data business, and they retain significant ownership in Verisec of approximately 60 percent. Verisec's compound annual growth rate has been substantial, at around 30 percent, and its EBIT margins have remained relatively stable at around 15 percent over the past 12 years. The company's target is to achieve revenues of SEK 200 million in year 2020 with an EBIT margin of 15-20 percent. Less...

TODAY

Day High
N/A
111.00
0.00
0.2%
Day Low
N/A
Day Open
109.50
Prev Close
111.00
VWAP
N/A
Volume
0K
Turnover
0.000M
Top Broker
VWAP
116.2
Avg Volume
1K
Avg Turnover
0.061M
Top Brokers
AVA/REM

52 WEEK SUMMARY

Price Range
Beta
n/a
Market Cap
492.4M
Total Return
38.4%
Trailing P/E
-27.5
Div Yield
0.0%
Shares Outstanding
4.4M
Next Earnings Date
17 May
Stock Exchange
First North Stockholm

Identify and measure trend strength in stocks with our Momentum tool to identify potential entry and exit signals. The tool provides a set of the most simple but powerful indicators that identify whether a stock is under sell or buy pressure.

Relative Price Strength
Rel Price Chg 3 Months 30.5%
Rel Price Chg 12 Months 18.1%
Volume Trend
Avg Vol 10 vs 60 Days -24.9%
Price vs...
52-Week High -11.2%
50-Day Moving Average 12.2%
200-Day Moving Average 29.2%

Historic pricing of Verisec

Last price: 111.00 SEK

Loading data...

Prev Close [[ prevClose|number:2 ]] SEK Change [[ changeValue|number:2 ]] %
High [[ highValue|number:2 ]] SEK Avg Daily Volume [[ avgVolume|number:0 ]] Shares
Low [[ lowValue|number:2 ]] SEK Avg Daily Turnover [[ graphAvgTurnover|number:2 ]] SEK

Management

Johan Henrikson, CEO
Jakub Missuna, CFO

Executive Board

Dragoljub Nesic, Chairman of the board

Last updated: 2017-02-27 Source: Redeye

Major Holders

Owner Equity Votes
Marquay Invest AB 61.0%
61.0%
Swedbank Robur Fonder Ny Teknik 9.1%
9.1%
Svolder 5.2%
5.2%
AMF Forsakring & Fonder 4.0%
4.0%
Merlinum AB 3.8%
3.8%
Kristofer von Beetzen 2.7%
2.7%
Arpeggio AB 1.6%
1.6%
Avanza Pension 1.4%
1.4%
Goran Collert 0.9%
0.9%
Denny Sjogren 0.8%
0.8%

Last updated: 2017-02-27 Source: Redeye

Insider transaction summary

Total insider purchases and sales reported

Timeframe Transactions Net Shares
Last 12 Weeks

0 Purchases

+ 0

0 Sales

- 0

Last 24 Weeks

0 Purchases

+ 0

0 Sales

- 0

Most recent insider transactions

Exclusive for members
Report Date Name Position Transaction Shares Chg Est Value (SEK)
2015-12-15 Svensson, Malin ANB Sale + 46 142
2015-12-15 Kvist, Malin ANB Sale + 11 125
2015-12-15 Svensson, Sture ANB Sale + 76 125
2015-12-15 Svensson, Kim ANB Sale + 32 12
2015-12-15 Kvist, Kim ANB Sale + 23 105

Source: Millistream – FI

More
  • Profitability
  • ROE
  • ROCE
  • ROIC
  • EBITDA margin
  • EBIT margin
  • Net margin
  • Per share data (SEK)
  • EPS
  • EPS adj
  • Dividend
  • Net debt
  • Total shares
  • Valuation
  • EV (SEKm)
  • P/E
  • P/E diluted
  • P/Sales
  • EV/Sales
  • EV/EBITDA
  • EV/EBIT
  • P/BV
  • Capital structure
  • Equity ratio
  • Debt/equity ratio
  • Net debt (SEKm)
  • Capital employed (SEKm)
  • Capital turnover rate
Previous year Next year
2014
  • 6.4%
  • 7.3%
  • -23.5%
  • 4.7%
  • 2.8%
  • 2.4%
  • 0.33
  • 0.33
  • 0.00
  • -10.58
  • 4.0M
  • 401.7
  • 331.5
  • 331.5
  • 8.0
  • 7.3
  • 156.1
  • 263.2
  • 12.6
  • 50.3%
  • 0.0%
  • -42
  • -7
  • 0.8
2015
  • -25.8%
  • -27.2%
  • 135.2%
  • -10.7%
  • -14.4%
  • -12.3%
  • -2.03
  • -2.03
  • 0.00
  • -7.52
  • 4.0M
  • 413.9
  • -54.6
  • -54.6
  • 6.7
  • 6.2
  • -58.7
  • -43.3
  • 16.0
  • 43.4%
  • 0.0%
  • -30
  • -2
  • 1.0
2016
  • -94.9%
  • -62.4%
  • 833.0%
  • -23.5%
  • -30.5%
  • -28.9%
  • -4.04
  • -4.04
  • 0.00
  • -2.84
  • 4.4M
  • 479.9
  • -27.5
  • -27.5
  • 8.0
  • 7.8
  • -33.0
  • -25.4
  • 49.6
  • 15.3%
  • 4.8%
  • -13
  • -3
  • 1.0
2017E
  • 0.0%
  • -47.9%
  • 527.6%
  • -13.1%
  • -16.5%
  • -15.3%
  • -2.93
  • -2.93
  • 0.00
  • -1.24
  • 4.4M
  • 486.9
  • -37.9
  • -37.9
  • 5.8
  • 5.7
  • -43.8
  • -34.8
  • -160.1
  • -4.2%
  • 5.5%
  • -6
  • -9
  • 1.2
2018E
  • 0.0%
  • 25.0%
  • -79.2%
  • 7.7%
  • 6.7%
  • 5.7%
  • 1.53
  • 1.53
  • 0.00
  • -2.95
  • 4.4M
  • 479.4
  • 72.4
  • 72.4
  • 4.1
  • 4.0
  • 52.2
  • 59.9
  • 132.5
  • 3.5%
  • 6.6%
  • -13
  • -9
  • 1.1
2019E
  • 148.1%
  • 54.3%
  • -227.2%
  • 16.2%
  • 15.6%
  • 13.3%
  • 4.79
  • 4.79
  • 0.00
  • -8.01
  • 4.4M
  • 456.9
  • 23.2
  • 23.2
  • 3.1
  • 2.9
  • 17.6
  • 18.3
  • 19.8
  • 17.7%
  • 5.5%
  • -36
  • -11
  • 1.1
Previous year Next year
    (SEKm)
  • Net sales
  • Total operating costs
  • EBITDA
  • Depreciation
  • Amortization
  • Impairment charges
  • EBIT
  • Share in profits
  • Net financial items
  • Exchange rate dif.
  • Pre-tax profit
  • Tax
  • Net earnings
Previous year Next year
2014
  • 55
  • -53
  • 3
  • -1
  • 0
  • 0
  • 2
  • 0
  • 0
  • 0
  • 2
  • -1
  • 1
2015
  • 66
  • -73
  • -7
  • -3
  • 0
  • 0
  • -10
  • 0
  • -0
  • 0
  • -10
  • -0
  • -8
2016
  • 62
  • -76
  • -15
  • -4
  • 0
  • 0
  • -19
  • 0
  • 1
  • 0
  • -18
  • 0
  • -18
2017E
  • 1
  • 7
  • 6
  • 5
  • 8
  • 0
  • 5
  • 4
  • 3
  • 1
  • 0
  • 3
  • 2
Q1E
  • 4
  • 6
  • 9
  • 1
  • 5
  • 8
  • 7
  • 1
  • 9
  • 2
  • 5
  • 6
  • 8
Q2E
  • 4
  • 3
  • 8
  • 10
  • 2
  • 6
  • 0
  • 9
  • 3
  • 0
  • 2
  • 3
  • 10
Q3E
  • 1
  • 3
  • 3
  • 0
  • 4
  • 5
  • 5
  • 7
  • 0
  • 2
  • 5
  • 2
  • 9
Q4E
  • 5
  • 10
  • 1
  • 6
  • 10
  • 6
  • 3
  • 3
  • 4
  • 4
  • 0
  • 0
  • 9
2017E
  • 10
  • 8
  • 7
  • 9
  • 1
  • 0
  • 3
  • 10
  • 5
  • 8
  • 7
  • 5
  • 0
2018E
  • 0
  • 1
  • 2
  • 0
  • 9
  • 1
  • 4
  • 9
  • 2
  • 4
  • 2
  • 10
  • 2
Q1E
  • 2
  • 5
  • 1
  • 7
  • 7
  • 8
  • 5
  • 3
  • 0
  • 8
  • 9
  • 10
  • 4
Q2E
  • 9
  • 8
  • 10
  • 5
  • 1
  • 9
  • 0
  • 6
  • 9
  • 6
  • 6
  • 2
  • 10
Q3E
  • 0
  • 6
  • 2
  • 4
  • 1
  • 10
  • 2
  • 9
  • 3
  • 0
  • 3
  • 1
  • 5
Q4E
  • 6
  • 10
  • 2
  • 8
  • 10
  • 7
  • 6
  • 1
  • 2
  • 0
  • 5
  • 8
  • 8
2018E
  • 10
  • 7
  • 8
  • 6
  • 4
  • 4
  • 10
  • 5
  • 0
  • 3
  • 2
  • 5
  • 5
2019E
  • 5
  • 6
  • 1
  • 1
  • 1
  • 7
  • 7
  • 2
  • 4
  • 9
  • 4
  • 1
  • 1
Previous year Next year
    (SEKm)
  • Assets
  • Current assets
  • Cash in banks
  • Receivables
  • Inventories
  • Other current assets
  • Current assets
  • Fixed assets
  • Tangible assets
  • Associated comp.
  • Investments
  • Goodwill
  • Cap. exp. for dev.
  • O intangible rights
  • O non-current assets
  • Total fixed assets
  • Deferred tax assets
  • Total (assets)
  • Liabilities
  • Current liabilities
  • Short-term debt
  • Accounts payable
  • O current liabilities
  • Current liabilities
  • Long-term debt
  • O long-term liabilities
  • Convertibles
  • Total Liabilities
  • Deferred tax liab
  • Provisions
  • Shareholders' equity
  • Minority interest (BS)
  • Minority & equity
  • Total liab & SE
Previous year Next year
2014
  • 42
  • 20
  • 1
  • 0
  • 63
  • 2
  • 0
  • 0
  • 0
  • 0
  • 4
  • 0
  • 6
  • 1
  • 70
  • 0
  • 30
  • 3
  • 33
  • 0
  • 0
  • 0
  • 33
  • 1
  • 0
  • 35
  • 0
  • 35
  • 70
2015
  • 30
  • 24
  • 1
  • 0
  • 55
  • 2
  • 0
  • 0
  • 0
  • 0
  • 6
  • 0
  • 9
  • 0
  • 64
  • 0
  • 33
  • 3
  • 36
  • 0
  • 0
  • 0
  • 36
  • 0
  • 0
  • 28
  • 0
  • 28
  • 64
2016
  • 32
  • 21
  • 1
  • 0
  • 54
  • 2
  • 0
  • 0
  • 0
  • 0
  • 9
  • 0
  • 11
  • 0
  • 65
  • 19
  • 33
  • 3
  • 55
  • 0
  • 0
  • 0
  • 55
  • 0
  • 0
  • 10
  • 0
  • 10
  • 65
2017E
  • 4
  • 3
  • 4
  • 0
  • 2
  • 9
  • 10
  • 10
  • 4
  • 2
  • 8
  • 8
  • 9
  • 5
  • 7
  • 1
  • 7
  • 3
  • 0
  • 10
  • 3
  • 3
  • 0
  • 0
  • 7
  • 10
  • 6
  • 4
  • 3
2018E
  • 7
  • 2
  • 6
  • 1
  • 4
  • 5
  • 3
  • 0
  • 2
  • 0
  • 2
  • 5
  • 9
  • 0
  • 5
  • 7
  • 3
  • 0
  • 3
  • 8
  • 3
  • 2
  • 4
  • 10
  • 2
  • 7
  • 4
  • 0
  • 3
2019E
  • 10
  • 0
  • 6
  • 0
  • 4
  • 10
  • 3
  • 0
  • 0
  • 10
  • 9
  • 7
  • 3
  • 0
  • 7
  • 7
  • 4
  • 0
  • 6
  • 5
  • 9
  • 8
  • 2
  • 4
  • 8
  • 0
  • 8
  • 7
  • 2
Previous year Next year
    (SEKm)
  • Net sales
  • Total operating costs
  • Depreciations total
  • EBIT
  • Taxes on EBIT
  • NOPLAT
  • Depreciation
  • Gross cash flow
  • Change in WC
  • Gross CAPEX
  • Free cash flow
Previous year Next year
2014
  • 55
  • -53
  • -1
  • 2
  • -0
  • 1
  • 1
  • 2
  • 5
  • -4
  • 3
2015
  • 66
  • -73
  • -3
  • -10
  • -0
  • -10
  • 3
  • -7
  • -2
  • -5
  • -14
2016
  • 62
  • -76
  • -4
  • -19
  • 0
  • -19
  • 4
  • -15
  • 3
  • -7
  • 16
2017E
  • 1
  • 5
  • 10
  • 1
  • 10
  • 5
  • 3
  • 5
  • 3
  • 2
  • 3
2018E
  • 6
  • 9
  • 7
  • 0
  • 0
  • 2
  • 9
  • 1
  • 1
  • 5
  • 10
2019E
  • 0
  • 9
  • 6
  • 10
  • 5
  • 9
  • 2
  • 7
  • 6
  • 8
  • 9
Previous year Next year
More