APPEN LIMITED (APX)
Share Price Analysis and Chart

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APX - APPEN LIMITED

FNArena Sector : IT & Support
Year End: December
GICS Industry Group : Software & Services
Debt/EBITDA: 0.79
Index: ALL-ORDS | ALL-TECH

Appen is a software developer providing and improving data for the development of machine learning and artificial intelligence products. It became a listed entity in 2015.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.645

18 Apr
2024

-0.015

OPEN

$0.65

-2.27%

HIGH

$0.69

5,714,236

LOW

$0.64

TARGET
$0.625 -3.1% downside
Franking for last dividend paid out: 50%
OTHER COMPANIES IN THE SAME SECTOR
DTL . FLN . HSN . IRI . OCL . STG . TNE .
FNARENA'S MARKET CONSENSUS FORECASTS
APX: 1
Title FY21
Actual		 FY22
Actual		 FY23
Forecast		 FY24
Forecast
EPS (cps) xxx N/A - 42.9 xxx
DPS (cps) xxx N/A 0.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A N/A xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 31/08 - ex-div 4.5c (franking 50%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx-125.2
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx411.3 M
Book Value Per Share xxxxxxxxxxxxxxx64.3
Net Operating Cash Flow xxxxxxxxxxxxxxx-34.6 M
Net Profit Margin xxxxxxxxxxxxxxx-43.25 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx-100.44 %
Return on Invested Capital xxxxxxxxxxxxxxx-94.07 %
Return on Assets xxxxxxxxxxxxxxx-58.97 %
Return on Equity xxxxxxxxxxxxxxx-100.44 %
Return on Total Capital xxxxxxxxxxxxxxx-44.38 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-37.3 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx5 M
Long Term Debt xxxxxxxxxxxxxxx14 M
Total Debt xxxxxxxxxxxxxxx18 M
Goodwill - Gross xxxxxxxxxxxxxxx355 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx47 M
Price To Book Value xxxxxxxxxxxxxxx0.98

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx29.9 M
Capex % of Sales xxxxxxxxxxxxxxx7.27 %
Cost of Goods Sold xxxxxxxxxxxxxxx446 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx51 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx2 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

-0.5

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

27/11/2023

3

Hold

$0.65

0.78%

As part of Appen's trading update, management noted “the challenging external operating and macroeconomic conditions that were noted at the release of the 1HFY23 result have persisted into 2HFY23”.

The company announced both a further US$14m of cost reductions, on top of the US$46m already slated, and a fully underwritten $30m equity raising. Across FY24-26, the analysts downgrade revenue assumptions by -6%, -10% and -12%, respectively.

In line with management's objective to return to profitability, Bell Potter forecasts a return to a modest positive earnings (EBITDA) number in 2024.

After allowing for the lower forecasts, the equity raise and higher assumed risk-free rate, the broker's target is slashed to 65c from $1.70. Hold retained.

FORECAST
Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus -53.80 cents.
Bell Potter forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -17.50 cents.

Macquarie

xx/xx/xxxx

0

xxxxxxxxx xx xxxxxxxx

xx.xx%

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