€451m market cap
€80.4 last close
Esker provides end-to-end document automation solutions, offering on-premise and on-demand delivery models. In FY18, the business generated 56% of revenues from Europe, 38% from the US and the remainder from Asia and Australia.
Investment summary
Esker reported another period of strong revenue and profit growth while continuing to invest in product development, consulting and sales & marketing resource. This policy of ongoing investment has fuelled double-digit revenue growth, 80% of which is recurring, over the last five years and supports the company’s premium rating. Progress towards the company’s stretching 20% revenue growth target should support further upside to the share price.
Y/E Dec |
Revenue (€m) |
EBITDA (€m) |
PBT (€m) |
EPS (fd) (c) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2017A | 76.1 | 16.4 | 10.7 | 132.0 | 60.9 | 24.6 |
| 2018A | 86.9 | 18.2 | 12.2 | 164.0 | 49.0 | 23.7 |
| 2019E | 100.6 | 20.9 | 14.4 | 174.0 | 46.2 | 21.3 |
| 2020E | 114.6 | 25.0 | 18.0 | 212.0 | 37.9 | 19.4 |
| Last updated on 19/09/2019 | ||||||
Industry outlook
Esker’s DPA software operates across five areas: document delivery, accounts payable, accounts receivable, procurement and sales order processing. Competitors are different for each business process and consist of business process outsourcers and specialist DPA software companies. Customers move to using DPA software to reduce paper-related costs and errors in processing, to speed up the cash conversion cycle, to improve process visibility within the enterprise and to improve customer service.
Last updated on 19/09/2019
Sector |
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Share price graph
Balance sheet |
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|---|---|
| Forecast net cash (€m) | 20.8 |
| Forecast gearing ratio (%) | N/A |
Price performance
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3m |
12m |
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Key management |
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|---|---|
| Jean-Michel Bérard | CEO |
| Sophie Rolland-Moritz | CFO |
| Emmanuel Olivier | COO |
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