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Nuvei Corporation (NVEI) Stock Fundamental Analysis

NASDAQ:NVEI - Nasdaq - CA67079A1021 - Common Stock - Currency: USD

33.99  +0.01 (+0.03%)

After market: 33.98 -0.01 (-0.03%)

Fundamental Rating

4

Taking everything into account, NVEI scores 4 out of 10 in our fundamental rating. NVEI was compared to 100 industry peers in the Financial Services industry. While NVEI is still in line with the averages on profitability rating, there are concerns on its financial health. NVEI has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

NVEI had positive earnings in the past year.
In the past year NVEI had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: NVEI reported negative net income in multiple years.
Each year in the past 5 years NVEI had a positive operating cash flow.
NVEI Yearly Net Income VS EBIT VS OCF VS FCFNVEI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 0 100M -100M 200M

1.2 Ratios

Looking at the Return On Assets, with a value of -0.22%, NVEI is doing worse than 75.00% of the companies in the same industry.
With a Return On Equity value of -0.55%, NVEI is not doing good in the industry: 74.00% of the companies in the same industry are doing better.
The Return On Invested Capital of NVEI (4.38%) is better than 67.00% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for NVEI is significantly below the industry average of 11.97%.
The last Return On Invested Capital (4.38%) for NVEI is above the 3 year average (3.66%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA -0.22%
ROE -0.55%
ROIC 4.38%
ROA(3y)1.47%
ROA(5y)-0.97%
ROE(3y)2.53%
ROE(5y)-4.13%
ROIC(3y)3.66%
ROIC(5y)3.16%
NVEI Yearly ROA, ROE, ROICNVEI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 0 5 -5 -10 -15 -20

1.3 Margins

NVEI has a Operating Margin (14.71%) which is comparable to the rest of the industry.
In the last couple of years the Operating Margin of NVEI has grown nicely.
NVEI's Gross Margin of 81.09% is amongst the best of the industry. NVEI outperforms 88.00% of its industry peers.
NVEI's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 14.71%
PM (TTM) N/A
GM 81.09%
OM growth 3Y-11.69%
OM growth 5Y34.24%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.42%
GM growth 5Y-0.86%
NVEI Yearly Profit, Operating, Gross MarginsNVEI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 0 20 -20 40 60 80

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3

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), NVEI is destroying value.
Compared to 1 year ago, NVEI has about the same amount of shares outstanding.
NVEI has more shares outstanding than it did 5 years ago.
The debt/assets ratio for NVEI is higher compared to a year ago.
NVEI Yearly Shares OutstandingNVEI Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 50M 100M
NVEI Yearly Total Debt VS Total AssetsNVEI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 1B 2B 3B 4B 5B

2.2 Solvency

Based on the Altman-Z score of 0.75, we must say that NVEI is in the distress zone and has some risk of bankruptcy.
NVEI has a Altman-Z score (0.75) which is comparable to the rest of the industry.
The Debt to FCF ratio of NVEI is 6.62, which is on the high side as it means it would take NVEI, 6.62 years of fcf income to pay off all of its debts.
NVEI has a Debt to FCF ratio (6.62) which is comparable to the rest of the industry.
NVEI has a Debt/Equity ratio of 0.60. This is a neutral value indicating NVEI is somewhat dependend on debt financing.
NVEI has a Debt to Equity ratio (0.60) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.6
Debt/FCF 6.62
Altman-Z 0.75
ROIC/WACC0.54
WACC8.05%
NVEI Yearly LT Debt VS Equity VS FCFNVEI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B 2B

2.3 Liquidity

NVEI has a Current Ratio of 1.06. This is a normal value and indicates that NVEI is financially healthy and should not expect problems in meeting its short term obligations.
NVEI has a Current ratio (1.06) which is comparable to the rest of the industry.
NVEI has a Quick Ratio of 1.06. This is a normal value and indicates that NVEI is financially healthy and should not expect problems in meeting its short term obligations.
NVEI has a Quick ratio (1.06) which is in line with its industry peers.
Industry RankSector Rank
Current Ratio 1.06
Quick Ratio 1.06
NVEI Yearly Current Assets VS Current LiabilitesNVEI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 500M 1B 1.5B

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6

3. Growth

3.1 Past

NVEI shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -3.55%.
Looking at the last year, NVEI shows a very strong growth in Revenue. The Revenue has grown by 41.10%.
NVEI shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 51.38% yearly.
EPS 1Y (TTM)-3.55%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-12.82%
Revenue 1Y (TTM)41.1%
Revenue growth 3Y46.95%
Revenue growth 5Y51.38%
Sales Q2Q%17.31%

3.2 Future

Based on estimates for the next years, NVEI will show a very strong growth in Earnings Per Share. The EPS will grow by 24.93% on average per year.
NVEI is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 15.15% yearly.
EPS Next Y16.94%
EPS Next 2Y23.1%
EPS Next 3Y24.93%
EPS Next 5YN/A
Revenue Next Year16.76%
Revenue Next 2Y16.19%
Revenue Next 3Y16.28%
Revenue Next 5Y15.15%

3.3 Evolution

The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
NVEI Yearly Revenue VS EstimatesNVEI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B 2B
NVEI Yearly EPS VS EstimatesNVEI Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 1 2 3

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5

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 20.85 indicates a rather expensive valuation of NVEI.
Compared to the rest of the industry, the Price/Earnings ratio of NVEI is on the same level as its industry peers.
The average S&P500 Price/Earnings ratio is at 26.17. NVEI is valued slightly cheaper when compared to this.
NVEI is valuated correctly with a Price/Forward Earnings ratio of 13.27.
Compared to the rest of the industry, the Price/Forward Earnings ratio of NVEI is on the same level as its industry peers.
The average S&P500 Price/Forward Earnings ratio is at 22.10. NVEI is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 20.85
Fwd PE 13.27
NVEI Price Earnings VS Forward Price EarningsNVEI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, NVEI is valued a bit cheaper than 77.00% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, NVEI is valued a bit cheaper than the industry average as 76.00% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 11.75
EV/EBITDA 9.74
NVEI Per share dataNVEI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 -10 20 30

4.3 Compensation for Growth

NVEI's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
A more expensive valuation may be justified as NVEI's earnings are expected to grow with 24.93% in the coming years.
PEG (NY)1.23
PEG (5Y)N/A
EPS Next 2Y23.1%
EPS Next 3Y24.93%

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1

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 1.14%, NVEI has a reasonable but not impressive dividend return.
NVEI's Dividend Yield is a higher than the industry average which is at 4.90.
Compared to an average S&P500 Dividend Yield of 2.40, NVEI's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 1.14%

5.2 History

NVEI is new to the dividend game and has less than 3 years of track record.
Dividend Growth(5Y)N/A
Div Incr Years1
Div Non Decr Years1
NVEI Yearly Dividends per shareNVEI Yearly Dividends per shareYearly Dividends per share 2023 2024 0.1 0.2 0.3 0.4

5.3 Sustainability

The earnings of NVEI are negative and hence is the payout ratio. NVEI will probably not be able to sustain this dividend level.
DP-492.49%
EPS Next 2Y23.1%
EPS Next 3Y24.93%
NVEI Yearly Income VS Free CF VS DividendNVEI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2017 2018 2019 2020 2021 2022 2023 0 100M -100M 200M

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Nuvei Corporation

NASDAQ:NVEI (11/15/2024, 8:00:01 PM)

After market: 33.98 -0.01 (-0.03%)

33.99

+0.01 (+0.03%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryFinancial Services
Earnings (Last)11-12 2024-11-12/amc
Earnings (Next)N/A N/A
Inst Owners76.04%
Inst Owner Change-91.94%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap2.23B
Analysts71.43
Price Target24.47 (-28.01%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.14%
Yearly Dividend0.2
Dividend Growth(5Y)N/A
DP-492.49%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-8.95%
Min EPS beat(2)-12.36%
Max EPS beat(2)-5.54%
EPS beat(4)1
Avg EPS beat(4)-4.7%
Min EPS beat(4)-12.36%
Max EPS beat(4)2.81%
EPS beat(8)3
Avg EPS beat(8)-2.76%
EPS beat(12)7
Avg EPS beat(12)0.38%
EPS beat(16)11
Avg EPS beat(16)20.11%
Revenue beat(2)2
Avg Revenue beat(2)1.27%
Min Revenue beat(2)0.79%
Max Revenue beat(2)1.75%
Revenue beat(4)2
Avg Revenue beat(4)-0.21%
Min Revenue beat(4)-2.24%
Max Revenue beat(4)1.75%
Revenue beat(8)3
Avg Revenue beat(8)-0.23%
Revenue beat(12)4
Avg Revenue beat(12)-0.68%
Revenue beat(16)8
Avg Revenue beat(16)0.75%
PT rev (1m)-2.06%
PT rev (3m)6.13%
EPS NQ rev (1m)-1.44%
EPS NQ rev (3m)-2.21%
EPS NY rev (1m)-0.47%
EPS NY rev (3m)-2%
Revenue NQ rev (1m)0.19%
Revenue NQ rev (3m)0.93%
Revenue NY rev (1m)-0.21%
Revenue NY rev (3m)0.71%
Valuation
Industry RankSector Rank
PE 20.85
Fwd PE 13.27
P/S 1.71
P/FCF 11.75
P/OCF 8.79
P/B 1.08
P/tB N/A
EV/EBITDA 9.74
EPS(TTM)1.63
EY4.8%
EPS(NY)2.56
Fwd EY7.53%
FCF(TTM)2.89
FCFY8.51%
OCF(TTM)3.87
OCFY11.38%
SpS19.89
BVpS31.43
TBVpS-18.31
PEG (NY)1.23
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -0.22%
ROE -0.55%
ROCE 5.54%
ROIC 4.38%
ROICexc 4.62%
ROICexgc 877.2%
OM 14.71%
PM (TTM) N/A
GM 81.09%
FCFM 14.54%
ROA(3y)1.47%
ROA(5y)-0.97%
ROE(3y)2.53%
ROE(5y)-4.13%
ROIC(3y)3.66%
ROIC(5y)3.16%
ROICexc(3y)4.68%
ROICexc(5y)3.88%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)4.63%
ROCE(5y)4.01%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3Y0.77%
ROICexc growth 5Y37.85%
OM growth 3Y-11.69%
OM growth 5Y34.24%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.42%
GM growth 5Y-0.86%
F-Score6
Asset Turnover0.25
Health
Industry RankSector Rank
Debt/Equity 0.6
Debt/FCF 6.62
Debt/EBITDA 3.66
Cap/Depr 43.46%
Cap/Sales 4.91%
Interest Coverage 1.78
Cash Conversion 74.81%
Profit Quality N/A
Current Ratio 1.06
Quick Ratio 1.06
Altman-Z 0.75
F-Score6
WACC8.05%
ROIC/WACC0.54
Cap/Depr(3y)45.06%
Cap/Depr(5y)36.23%
Cap/Sales(3y)5.37%
Cap/Sales(5y)5.02%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-3.55%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-12.82%
EPS Next Y16.94%
EPS Next 2Y23.1%
EPS Next 3Y24.93%
EPS Next 5YN/A
Revenue 1Y (TTM)41.1%
Revenue growth 3Y46.95%
Revenue growth 5Y51.38%
Sales Q2Q%17.31%
Revenue Next Year16.76%
Revenue Next 2Y16.19%
Revenue Next 3Y16.28%
Revenue Next 5Y15.15%
EBIT growth 1Y79.36%
EBIT growth 3Y29.76%
EBIT growth 5Y103.21%
EBIT Next Year358.58%
EBIT Next 3Y86.76%
EBIT Next 5YN/A
FCF growth 1Y-23.34%
FCF growth 3Y35.49%
FCF growth 5Y95.67%
OCF growth 1Y-10.81%
OCF growth 3Y41.28%
OCF growth 5Y79.95%