Adveritas Limited provides digital advertising fraud prevention services through its software as a service in Australia and internationally.
The last earnings update was 77 days ago.
More info.
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
It is not possible to calculate the future cash flow value for
Adveritas. This is due to cash flow or dividend data being
unavailable. The share price is
€0.0985.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.
The amount the stock market is willing to pay for
Adveritas's
earnings,
growth
and
assets
is considered below, and whether this is a fair price.
Price based on past earnings
Are
Adveritas's earnings available for a low price, and how does
this compare to other companies in the same industry?
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Adveritas has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.
Show me the analysis anyway
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.
Future estimates come from
professional analysts. Just like forecasting the weather, they don’t always get
it right!
20.2%
Expected Interactive Media and Services industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is
Adveritas
expected to grow at an
attractive
rate?
Unable to compare Adveritas's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
Unable to compare Adveritas's earnings growth to the Germany market average as no estimate data is available.
Unable to compare Adveritas's revenue growth to the Germany market average as no estimate data is available.
Unable to determine if Adveritas is high growth as no earnings estimate data is available.
Unable to determine if Adveritas is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can
be gauged below. We look back 3 years and see if they were any good at
predicting what actually occurred. We also show the highest and lowest estimates
looking forward to see if there is a wide range.
All data from Adveritas Company Filings, last reported 5 months ago, and in
Trailing twelve months (TTM)
annual period rather than quarterly.
DB:4TM Past Financials Data
Date (Data in AUD Millions)
EPS *
2019-06-30
-0.05
2018-12-31
-0.06
2018-09-30
-0.07
2018-06-30
-0.09
2017-12-31
-0.12
2017-09-30
-0.10
2017-06-30
-0.08
2017-03-31
-0.02
2016-12-31
-0.05
2016-09-30
-0.05
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
Unable to establish if Adveritas will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Next steps:
Examine Adveritas's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
Adveritas's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors.
Take a look at other high-growth Media companies here
Adveritas's competitive advantages and company strategy can generally be found in its financial reports archived here.
We assess
Adveritas's future performance by looking at:
Is the annual earnings growth rate expected to beat the low risk savings rate, plus a
premium to keep pace with inflation?
Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
Is the annual earnings growth rate expected to be above 20%? (1 check)
Is the annual revenue growth rate expected to be above 20%? (1 check)
Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making
in the relevant year.
Adveritas
has a total score of
0/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Below we compare
Adveritas's growth in the last year to its industry (Interactive Media and Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it
has maintained that growth in the year.
Adveritas does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
Unable to compare Adveritas's 1-year earnings growth to the 5-year average as it is not currently profitable.
Unable to compare Adveritas's 1-year growth to the DE Interactive Media and Services industry average as it is not currently profitable.
Earnings and Revenue History
Adveritas's
revenue
and
profit
over the past 5 years is shown below, any years where they have experienced a
loss will show up in red.
All data from Adveritas Company Filings, last reported 5 months ago, and in
Trailing twelve months (TTM)
annual period rather than quarterly.
DB:4TM Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions)
Revenue
Net Income *
G+A Expenses
R&D Expenses
2019-06-30
0.64
-6.64
2.13
2018-12-31
0.32
-5.90
1.42
2018-09-30
0.20
-6.58
1.32
2018-06-30
-7.25
1.23
2017-12-31
-15.14
-8.12
-1.98
2017-09-30
-7.55
-6.58
-0.46
2017-06-30
0.05
-5.03
1.07
2017-03-31
33.35
-1.28
8.42
2016-12-31
29.67
-2.99
9.09
2016-09-30
30.90
-3.32
9.83
2016-06-30
32.12
-3.65
10.58
2016-03-31
29.18
-6.59
10.24
2015-12-31
26.25
-9.54
9.90
2015-09-30
19.05
-9.93
7.61
2015-06-30
11.85
-10.33
5.33
2015-03-31
7.58
-6.68
3.11
2014-12-31
3.31
-3.02
0.89
2014-09-30
2.22
-2.39
1.12
2014-06-30
1.14
-1.75
1.36
2013-06-30
6.43
2.07
1.97
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
It is difficult to establish if Adveritas has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
It is difficult to establish if Adveritas has efficiently used its assets last year compared to the DE Interactive Media and Services industry average (Return on Assets) as it is loss-making.
It is difficult to establish if Adveritas improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
We assess
Adveritas's performance over the past 5 years by checking for:
Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the
Interactive Media and Services
industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the
past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent
earnings report. Some checks require at least 3 or 5 years worth of data.
Adveritas
has a total score of
0/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).
The boxes below represent the relative size of what makes up
Adveritas's finances.
The net worth of a company is the difference between its assets and liabilities.
Net Worth
Adveritas is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
Adveritas's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of
Adveritas's finances. If any of them are yellow this
indicates they may be out of proportion and red means they relate to one of the
checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Low level of unsold assets.
Adveritas has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.
The graphic below shows equity (available funds) and debt, we ideally want to
see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and
whether the level has increased over the past 5 years.
We assess
Adveritas's financial health by checking for:
Are short term assets greater than short term liabilities? (1 check)
Are short term assets greater than long term liabilities? (1 check)
Has the debt to equity ratio increased in the past 5 years? (1 check)
Is the debt to equity ratio over 40%? (1 check)
Is the debt covered by operating cash flow? (1 check)
Are earnings greater than 5x the interest on debt (if company pays interest
at all)? (1 check)
Adveritas
has a total score of
4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
0%
Current annual income from
Adveritas
dividends.
If you bought
€2,000 of
Adveritas
shares you are expected to receive
€0
in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you
can get in a
savings account?
It is up there with the
best dividend paying companies?
Unable to evaluate Adveritas's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
Unable to evaluate Adveritas's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.
We also check to see if the dividend has increased in the past 10 years.
Management is one of the most important areas of a company. We look at
unreasonable CEO compensation, how long the team and board of directors have
been around for and insider trading.
CEO
MathewRatty
COMPENSATION
A$448,796
TENURE AS CEO
1.8 years
CEO Bio
Mr. Mathew Ratty has been the Chief Executive Officer of Tech Mpire Limited since November 2018. Mr. Ratty served as Interim Managing Director and CEO of Tech Mpire Limited since March 20, 2018 until November 2018. He served as the Interim CEO of Tech Mpire Limited since March 20, 2018 until 2018 and served as its Executive Director of Corporate Development. He is Co-Founder and Head of Investment at MC Management Group Pty Ltd. Mr. Ratty has extensive experience across capital raising advice, seed investment negotiation, corporate strategy and financial modelling. He is responsible for negotiating deal structures and asset pricing for companies in the healthcare, financials and technology equities space. Mr. Ratty is an experienced investor focused on Australian and US equity and debt markets. From 2009 to 2013, he served as an Analyst at Gladstone Bridge Pty Ltd. Mr. Ratty served as a Non-Executive Director of Admedus Limited since May 27, 2016 until May 20, 2018. He served as a Director of Gladstone Bridge Pty Ltd and oversaw its asset allocation. He has been Director of Tech Mpire Limited from February 2017. He holds a First Class Honours degree in Finance from Curtin University as well as a Bachelor of Commerce degree specialising in property and corporate finance.
CEO Compensation
Mathew's compensation has increased whilst company is loss making.
Mathew's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure
Average tenure of the
Adveritas
management team in years:
1.8
Average Tenure
The average tenure for the Adveritas management team is less than 2 years, this suggests a new team.
Management Team
Mathew Ratty
TITLE
CEO & Director
COMPENSATION
A$449K
TENURE
1.8 yrs
Fiona Muir
TITLE
Chief Financial Officer
COMPENSATION
A$131K
TENURE
1.5 yrs
Luke Anthony Taylor
TITLE
Founder & COO
COMPENSATION
A$383K
Dave Cox
TITLE
Chief Revenue Officer
COMPENSATION
A$721K
TENURE
1.9 yrs
Susan Hunter
TITLE
Company Secretary
COMPENSATION
A$59K
AGE
44
TENURE
2.3 yrs
Eric Rosenburg
TITLE
Vice President of Sales North America
Board of Directors Tenure
Average tenure of the
Adveritas
board of directors in years:
2.4
Average Tenure
The average tenure for the Adveritas board of directors is less than 3 years, this suggests a new board.
Board of Directors
Stephen Belben
TITLE
Non Executive Chairman
COMPENSATION
A$118K
TENURE
3.8 yrs
Mathew Ratty
TITLE
CEO & Director
COMPENSATION
A$449K
TENURE
2.8 yrs
Renaud Besnard
TITLE
Non-Executive Director
COMPENSATION
A$96K
TENURE
2.4 yrs
Mark McConnell
TITLE
Director
COMPENSATION
A$67K
AGE
47
TENURE
0.8 yrs
Andrew Stott
TITLE
Director
COMPENSATION
A$67K
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
More shares have been bought than sold by Adveritas individual insiders in the past 3 months.
Adveritas Limited provides digital advertising fraud prevention services through its software as a service in Australia and internationally. It develops TrafficGuard software as a service platform that detects, mitigates, and reports on digital advertising fraud before the fraud impacts on the advertisers’ budgets; and nxus, a proprietary mediation platform that provides real-time attribution tracking, analytics, and reporting data for online advertising. The company was formerly known as Tech Mpire Limited and changed its name to Adveritas Limited in December 2018. Adveritas Limited is based in Bentley, Australia.
Adveritas Limited
16 Brodie Hall Drive,
Suite 10,
Bentley,
Western Australia, 6102,
Australia
Listings
Exchange Symbol
Ticker Symbol
Security
Exchange
Country
Currency
Listed on
ASX
AV1
Ordinary Shares
Australian Securities Exchange
AU
AUD
01. Jul 2015
DB
4TM
Ordinary Shares
Deutsche Boerse AG
DE
EUR
01. Jul 2015
Number of employees
Current staff
0
Adveritas
employees.
Industry
Interactive Media and Services
Media
Company Analysis and Financial Data Status
Area
Date (UTC time)
Company Analysis updated:
2019/12/05 22:03
End of day share price update:
2019/12/05 00:00
Last earnings filing:
2019/09/19
Last earnings reported:
2019/06/30
Last annual earnings reported:
2019/06/30
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.