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Document Security Systems

AMEX:DSS
Snowflake Description

Fair value with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DSS
AMEX
$10M
Market Cap
  1. Home
  2. US
  3. Commercial Services
Company description

Document Security Systems, Inc. focuses on developing and selling counterfeit prevention, brand protection, and validation of authentic print media products. The last earnings update was 23 days ago. More info.


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  • Document Security Systems has significant price volatility in the past 3 months.
DSS Share Price and Events
7 Day Returns
-1.7%
AMEX:DSS
-1.7%
US Commercial Services
-1.4%
US Market
1 Year Returns
-70.1%
AMEX:DSS
18.7%
US Commercial Services
14.5%
US Market
DSS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Document Security Systems (DSS) -1.7% -24.5% -36% -70.1% -60.4% -87.9%
US Commercial Services -1.7% -0.1% 2.5% 18.7% 45.9% 79.4%
US Market -1.4% 1.3% 4.6% 14.5% 35.7% 48.6%
1 Year Return vs Industry and Market
  • DSS underperformed the Commercial Services industry which returned 18.7% over the past year.
  • DSS underperformed the Market in United States of America which returned 14.5% over the past year.
Price Volatility
DSS
Industry
5yr Volatility vs Market

Value

 Is Document Security Systems undervalued based on future cash flows and its price relative to the stock market?

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
Here we compare the current share price of Document Security Systems to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Document Security Systems.

AMEX:DSS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.8%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for AMEX:DSS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.66
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.66 (1 + (1- 21%) (43.44%))
0.924
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.92
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (0.924 * 5.44%)
6.77%

Discounted Cash Flow Calculation for AMEX:DSS using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Document Security Systems is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

AMEX:DSS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.77%)
2020 -0.91 Analyst x1 -0.85
2021 -0.02 Analyst x1 -0.02
2022 9.69 Analyst x1 7.96
2023 10.70 Analyst x1 8.24
2024 11.44 Est @ 6.91% 8.25
2025 12.06 Est @ 5.36% 8.14
2026 12.57 Est @ 4.27% 7.95
2027 13.01 Est @ 3.51% 7.71
2028 13.40 Est @ 2.98% 7.43
2029 13.75 Est @ 2.61% 7.14
Present value of next 10 years cash flows $61.00
AMEX:DSS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $13.75 × (1 + 1.74%) ÷ (6.77% – 1.74%)
$278.30
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $278.30 ÷ (1 + 6.77%)10
$144.60
AMEX:DSS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $61.00 + $144.60
$205.60
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $205.60 / 36.18
$5.68
AMEX:DSS Discount to Share Price
Calculation Result
Value per share (USD) From above. $5.68
Current discount Discount to share price of $0.27
= -1 x ($0.27 - $5.68) / $5.68
95.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Document Security Systems is available for.
Intrinsic value
>50%
Share price is $0.27 vs Future cash flow value of $5.68
Current Discount Checks
For Document Security Systems to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Document Security Systems's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Document Security Systems's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Document Security Systems's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Document Security Systems's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AMEX:DSS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in USD $-0.15
AMEX:DSS Share Price ** AMEX (2019-12-05) in USD $0.27
United States of America Commercial Services Industry PE Ratio Median Figure of 51 Publicly-Listed Commercial Services Companies 26.44x
United States of America Market PE Ratio Median Figure of 2,924 Publicly-Listed Companies 18.23x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Document Security Systems.

AMEX:DSS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AMEX:DSS Share Price ÷ EPS (both in USD)

= 0.27 ÷ -0.15

-1.82x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Document Security Systems is loss making, we can't compare its value to the US Commercial Services industry average.
  • Document Security Systems is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Document Security Systems's expected growth come at a high price?
Raw Data
AMEX:DSS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -1.82x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
57.2%per year
United States of America Commercial Services Industry PEG Ratio Median Figure of 34 Publicly-Listed Commercial Services Companies 1.77x
United States of America Market PEG Ratio Median Figure of 2,045 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Document Security Systems, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Document Security Systems's assets?
Raw Data
AMEX:DSS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in USD $0.36
AMEX:DSS Share Price * AMEX (2019-12-05) in USD $0.27
United States of America Commercial Services Industry PB Ratio Median Figure of 88 Publicly-Listed Commercial Services Companies 1.99x
United States of America Market PB Ratio Median Figure of 5,086 Publicly-Listed Companies 1.77x
AMEX:DSS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AMEX:DSS Share Price ÷ Book Value per Share (both in USD)

= 0.27 ÷ 0.36

0.75x

* Primary Listing of Document Security Systems.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Document Security Systems is good value based on assets compared to the US Commercial Services industry average.
X
Value checks
We assess Document Security Systems's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Commercial Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Commercial Services industry average (and greater than 0)? (1 check)
  5. Document Security Systems has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Document Security Systems expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

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!
Annual Growth Rate
57.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Document Security Systems expected to grow at an attractive rate?
  • Unable to compare Document Security Systems's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Document Security Systems's earnings growth to the United States of America market average as it is expected to be loss making during the next 1-3 years.
  • Document Security Systems's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
AMEX:DSS Future Growth Rates Data Sources
Data Point Source Value (per year)
AMEX:DSS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 57.2%
AMEX:DSS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 4.3%
United States of America Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 18.7%
United States of America Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 5.7%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
AMEX:DSS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AMEX:DSS Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 23 1
2022-12-31 21 1
2021-12-31 21 1 0 1
2020-12-31 21 0 -2 2
2019-12-31 19 0 -3 2
2019-12-06
AMEX:DSS Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-09-30 18 -3 -3
2019-06-30 19 -3 -2
2019-03-31 19 -2 1
2018-12-31 19 -1 1
2018-09-30 18 -2 2
2018-06-30 18 -1 2
2018-03-31 18 -1 -1
2017-12-31 19 -1 -1
2017-09-30 19 4 -1
2017-06-30 19 5 0
2017-03-31 20 5 -1
2016-12-31 19 5 -1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Document Security Systems is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Document Security Systems's revenue is expected to grow by 4.3% yearly, however this is not considered high growth (20% yearly).
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.
Raw Data
AMEX:DSS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Document Security Systems Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:DSS Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 -0.02 -0.02 -0.02 1.00
2020-12-31 -0.06 -0.04 -0.07 2.00
2019-12-31 -0.13 -0.13 -0.13 2.00
2019-12-06
AMEX:DSS Past Financials Data
Date (Data in USD Millions) EPS *
2019-09-30 -0.15
2019-06-30 -0.12
2019-03-31 0.08
2018-12-31 0.09
2018-09-30 0.12
2018-06-30 0.13
2018-03-31 -0.05
2017-12-31 -0.04
2017-09-30 -0.05
2017-06-30 -0.03
2017-03-31 -0.04
2016-12-31 -0.07

*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 Document Security Systems will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Document Security Systems's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. 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.
Document Security Systems 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.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Document Security Systems performed over the past 5 years?

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 Document Security Systems's growth in the last year to its industry (Commercial 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.
  • Document Security Systems does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Document Security Systems's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Document Security Systems's 1-year growth to the US Commercial Services industry average as it is not currently profitable.
Earnings and Revenue History
Document Security Systems'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.
Raw Data

All data from Document Security Systems Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:DSS Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 18.40 -3.13 7.63
2019-06-30 18.97 -2.29 7.15
2019-03-31 18.95 1.42 7.08
2018-12-31 18.52 1.46 7.09
2018-09-30 18.39 2.01 6.83
2018-06-30 18.50 2.14 6.83
2018-03-31 18.27 -0.80 6.52
2017-12-31 18.66 -0.58 6.47
2017-09-30 18.62 -0.71 6.90
2017-06-30 19.40 -0.46 7.00
2017-03-31 19.61 -0.51 7.14
2016-12-31 19.18 -0.95 7.33
2016-09-30 18.85 -11.73 7.46
2016-06-30 18.29 -12.56 7.97
2016-03-31 18.41 -13.29 8.57
2015-12-31 17.51 -14.31 9.27
2015-09-30 16.86 -31.24 9.69
2015-06-30 17.40 -38.45 9.92
2015-03-31 18.09 -39.75 10.30
2014-12-31 18.29 -41.16 10.77
2014-09-30 18.63 -14.28 12.83
2014-06-30 17.91 0.25 11.61
2014-03-31 17.31 0.67 12.33
2013-12-31 17.45 2.59 11.67
2013-09-30 17.75 2.29 9.90
2013-06-30 17.66 -5.27 11.06 -0.37
2013-03-31 17.04 -4.34 9.68 -0.15
2012-12-31 17.12 -4.28 9.07

*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 Document Security Systems has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Document Security Systems has efficiently used its assets last year compared to the US Commercial Services industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Document Security Systems improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Document Security Systems's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Commercial Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. 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.
Document Security Systems 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.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Document Security Systems's financial health and their level of debt?

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 Document Security Systems's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Document Security Systems is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Document Security Systems's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Document Security Systems'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.9x debt.
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.
Raw Data

All data from Document Security Systems Company Filings, last reported 2 months ago.

AMEX:DSS Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 10.82 2.83 3.92
2019-06-30 11.66 2.31 5.32
2019-03-31 7.79 2.39 1.34
2018-12-31 7.57 2.44 2.32
2018-09-30 7.36 2.15 2.05
2018-06-30 7.45 2.27 3.05
2018-03-31 4.68 6.19 3.73
2017-12-31 4.79 6.37 4.19
2017-09-30 4.10 6.01 4.22
2017-06-30 3.06 6.16 4.07
2017-03-31 3.24 6.34 4.87
2016-12-31 3.28 6.50 5.87
2016-09-30 2.78 6.71 0.82
2016-06-30 2.80 7.02 0.77
2016-03-31 3.11 7.69 1.05
2015-12-31 3.69 7.84 1.44
2015-09-30 14.05 8.10 1.24
2015-06-30 13.85 8.41 1.01
2015-03-31 14.56 8.07 1.59
2014-12-31 15.86 8.19 2.34
2014-09-30 42.06 8.39 1.90
2014-06-30 54.56 7.20 1.30
2014-03-31 56.05 7.62 2.94
2013-12-31 58.39 4.68 1.98
2013-09-30 54.38 4.37 3.24
2013-06-30 7.06 3.25 0.56
2013-03-31 7.91 2.43 1.20
2012-12-31 8.72 2.76 1.89
  • Document Security Systems's level of debt (26.2%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (20.1% vs 26.2% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Document Security Systems has less than a year of cash runway based on current free cash flow.
  • Unable to confirm if Document Security Systems has at least 1 year of cash runway based on growing free cash flows without relevant data.
X
Financial health checks
We assess Document Security Systems's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Document Security Systems has a total score of 3/6, 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:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Document Security Systems's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Document Security Systems dividends.
If you bought $2,000 of Document Security Systems 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 Document Security Systems's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Document Security Systems'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.
Raw Data
AMEX:DSS Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United States of America Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 39 Stocks 1.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1958 Stocks 2.3%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

AMEX:DSS Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2019-12-31
2019-12-06

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Document Security Systems has not reported any payouts.
  • Unable to verify if Document Security Systems's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Document Security Systems's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Document Security Systems has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Document Security Systems's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Document Security Systems afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Document Security Systems has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Document Security Systems's salary, the management and board of directors tenure and is there insider trading?

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
Frank Heuszel
COMPENSATION $9,500
AGE 63
TENURE AS CEO 0.7 years
CEO Bio

Mr. Frank D. Heuszel serves as Chief Executive Officer of Document Security Systems, Inc. since May 07, 2019. Mr. Heuszel served as the Interim Chief Executive Officer of Document Security Systems, Inc. since April 11, 2019 until May 07, 2019. Mr. Heuszel serves as Interim Chief Financial Officer since April 17, 2019 and Independent Director since July 30, 2018 of Document Security Systems, Inc. Mr. Heuszel is a practicing attorney, a Certified Public Accountant, and a Certified Internal Auditor, and has over 39 years of experience in accounting and finance matters. Mr. Heuszel’s law practice focuses on the regulation and operation of banks, corporate restructures, and mergers and acquisitions.

CEO Compensation
  • Insufficient data for Frank to compare compensation growth.
  • Frank's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Document Security Systems management team in years:

0.7
Average Tenure
60
Average Age
  • The average tenure for the Document Security Systems management team is less than 2 years, this suggests a new team.
Management Team

Ambrose Chan

TITLE
Executive Chairman of the Board
AGE
74

Frank Heuszel

TITLE
CEO, Interim CFO & Director
COMPENSATION
$10K
AGE
63
TENURE
0.7 yrs

Phil Jones

TITLE
Consultant
COMPENSATION
$224K
AGE
50
TENURE
0.7 yrs

Jason Grady

TITLE
Chief Operating Officer
TENURE
0.4 yrs

Michael Caton

TITLE
Chief Technology Officer of Research & Development / Emerging Technologies

Vincent Lum

TITLE
President of DSS Asia
AGE
57
TENURE
1.9 yrs
Board of Directors Tenure

Average tenure and age of the Document Security Systems board of directors in years:

0.6
Average Tenure
55
Average Age
  • The average tenure for the Document Security Systems board of directors is less than 3 years, this suggests a new board.
Board of Directors

Ambrose Chan

TITLE
Executive Chairman of the Board
AGE
74
TENURE
0.8 yrs

Frank Heuszel

TITLE
CEO, Interim CFO & Director
COMPENSATION
$10K
AGE
63
TENURE
1.4 yrs

JT Thatch

TITLE
Independent Non-Executive Member
AGE
57
TENURE
0.6 yrs

Lowell Lo

TITLE
Non-Executive Director
AGE
55
TENURE
0.7 yrs

Samson Lee

TITLE
Non-Executive Independent Director
AGE
48
TENURE
0.3 yrs

José Escudero

TITLE
Non-Executive Independent Director
AGE
44
TENURE
0.3 yrs

William Wu

TITLE
Independent Non-Executive Director
AGE
52
TENURE
0.2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Document Security Systems individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
05. Nov 19 Buy LiquidValue Development Pte. Ltd. Company 01. Nov 19 01. Nov 19 6,000,000 $0.30 $1,822,200
01. Nov 19 Buy Susan Athwal Individual 09. Sep 19 17. Sep 19 3,876 $0.39 $1,483
01. Nov 19 Buy Judah Feigenbaum Individual 15. Oct 19 15. Oct 19 5,000 $0.36 $1,800
10. Jun 19 Buy Fai Ambrose Heng Individual 10. Jun 19 10. Jun 19 2,000,000 $0.50 $1,000,000
10. Jun 19 Buy Joseph Sanders Individual 06. Jun 19 06. Jun 19 1,181 $0.48 $562
21. May 19 Buy Joseph Sanders Individual 20. May 19 20. May 19 3,181 $1.05 $3,340
18. Dec 18 Buy Fai Ambrose Heng Individual 17. Dec 18 17. Dec 18 612,245 $0.98 $600,000
X
Management checks
We assess Document Security Systems's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Document Security Systems has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Could The Document Security Systems, Inc. (NYSEMKT:DSS) Ownership Structure Tell Us Something Useful?

See our latest analysis for Document Security Systems AMEX:DSS Ownership Summary, May 20th 2019 What Does The Institutional Ownership Tell Us About Document Security Systems? … Insider Ownership Of Document Security Systems The definition of an insider can differ slightly between different countries, but members of the board of directors always count. … General Public Ownership The general public -- mostly retail investors -- own 70% of Document Security Systems.

Simply Wall St -

What Investors Should Know About Document Security Systems, Inc.'s (NYSEMKT:DSS) Financial Strength

Help shape the future of investing tools and you could win a $250 gift card! … While small-cap stocks, such as Document Security Systems, Inc. … (NYSEMKT:DSS) with its market cap of US$20m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

Can Document Security Systems, Inc. (NYSEMKT:DSS) Maintain Its Strong Returns?

Document Security Systems has a ROE of 27%, based on the last twelve months. … That means that for every $1 worth of shareholders' equity, it generated $0.27 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Do Directors Own Document Security Systems Inc (NYSEMKT:DSS) Shares?

A look at the shareholders of Document Security Systems Inc (NYSEMKT:DSS) can tell us which group is most powerful. … Document Security Systems is a smaller company with a market capitalization of US$17m, so it may still be flying under the radar of many institutional investors. … Check out our latest analysis for Document Security Systems

Simply Wall St -

Does Document Security Systems Inc's (NYSEMKT:DSS) CEO Pay Compare Well With Peers?

Jeff Ronaldi became the CEO of Document Security Systems Inc (NYSEMKT:DSS) in 2013. … How Does Jeff Ronaldi's Compensation Compare With Similar Sized Companies. … Our data indicates that Document Security Systems Inc is worth US$17m, and total annual CEO compensation is US$363k.

Simply Wall St -

Is Document Security Systems Inc's (NYSEMKT:DSS) PE Ratio A Signal To Buy For Investors?

Document Security Systems Inc (NYSEMKT:DSS) is trading with a trailing P/E of 7.5, which is lower than the industry average of 18.4. … I will deconstruct the P/E ratio and highlight what you need to be careful of when using the P/E ratio … Check out our latest analysis for Document Security Systems

Simply Wall St -

Should You Be Concerned About Document Security Systems Inc's (NYSEMKT:DSS) Shareholders?

In this article, I will take a quick look at Document Security Systems Inc’s (NYSEMKT:DSS) recent ownership structure – an unconventional investing subject, but an important one. … Ownership structure has been found to have an impact on shareholder returns in both short- and long-term. … See our latest analysis for Document Security Systems

Simply Wall St -

Are Document Security Systems Inc's (NYSEMKT:DSS) Interest Costs Too High?

While small-cap stocks, such as Document Security Systems Inc (NYSEMKT:DSS) with its market cap of US$21.08m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

Should You Buy Document Security Systems Inc (NYSEMKT:DSS) For This Reason?

The single most important question to ask when you’re investing in a loss-making company is – will they need to raise cash again, and if so, when? … Looking at Document Security Systems’s latest financial data, I will gauge when the company may run out of cash and need to raise more money. … The measure of how fast Document Security Systems goes through its cash reserves over time is called the cash burn rate.

Simply Wall St -

Who Owns Document Security Systems Inc (NYSEMKT:DSS)?

Check out our latest analysis for Document Security Systems AMEX:DSS Ownership_summary Jun 1st 18 Institutional Ownership Institutional investors transact in large blocks which can influence the momentum of stock prices, at least in the short-term, especially when there is a low level of public shares available on the market to trade. … Insider Ownership Another important group of shareholders are company insiders. … Insider ownership has to do more with how the company is managed and less to do with the direct impact of the magnitude of shares trading on the market.

Simply Wall St -

Company Info

Description

Document Security Systems, Inc. focuses on developing and selling counterfeit prevention, brand protection, and validation of authentic print media products. It operates through five segments: DSS Packaging and Printing Group, DSS Plastics Group, DSS Digital Group, DSS Technology Management, and DSS International. The company emphasizes on fraud and counterfeit prevention for various forms of printed documents and digital information. It markets its primary anti-counterfeiting products and technologies under the AuthentiGuard name. Document Security Systems, Inc. holds various patents for optical deterrent technologies that provide protection of printed information from unauthorized scanning and copying. The company operates combined security printing and packaging facility, and a plastic card facility that produces secure and non-secure documents. Document Security Systems, Inc. licenses its anti-counterfeiting technologies to printers and brand-owners. In addition, the company provides cloud computing services, including disaster recovery, back-up, and data security services. Further, Document Security Systems, Inc. acquires intellectual property assets and interests in companies owning intellectual property assets for the purpose of monetizing these assets through various value-enhancing initiatives, including investments in the development and commercialization of patented technologies, licensing, strategic partnerships, and commercial litigation. Additionally, the company assists in the development and marketing of its digital authentication products in the Hong Kong market. Document Security Systems, Inc. was founded in 1984 and is headquartered in Rochester, New York.

Details
Name: Document Security Systems, Inc.
DSS
Exchange: AMEX
Founded: 1984
$9,664,966
36,180,626
Website: http://www.dsssecure.com
Address: Document Security Systems, Inc.
200 Canal View Boulevard,
Suite 300,
Rochester,
New York, 14623,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AMEX DSS Common Stock NYSE MKT LLC US USD 03. Dec 2007
Number of employees
Current staff
Staff numbers
106
Document Security Systems employees.
Industry
Commercial Printing
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/06 00:30
End of day share price update: 2019/12/05 00:00
Last estimates confirmation: 2019/11/26
Last earnings filing: 2019/11/13
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


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.