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

$0.465

19 Jul
2024

-0.015

OPEN

$0.48

-3.12%

HIGH

$0.48

997,851

LOW

$0.47

TARGET
$0.60 29.0% upside
Franking for last dividend paid out: 50%
OTHER COMPANIES IN THE SAME SECTOR
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FNARENA'S MARKET CONSENSUS FORECASTS
APX: 1
Title FY21
Actual
FY22
Actual
FY23
Forecast
FY24
Forecast
EPS (cps) xxx - 247.1 - 32.0 xxx
DPS (cps) xxx 0.0 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

-1.0

No. Of Recommendations

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

23/01/2024

5

Underweight

$0.60

29.03%

Appen has lost one of its top-three customers in Google, which accounted for some 30% of FY23 revenues and 25% of gross profit.

Morgan Stanley's negative investment thesis on Appen has been based on a view that Appen's technology is becoming less valuable to its traditional clients.

Competition is intensifying and Appen's large customers are creating more sophisticated platforms and using more of their own AI and relying less on human input. Morgan Stanley asks: does the business have a terminal value?

Underweight retained, target falls to 60c from $1.94. Industry view: Attractive.

FORECAST
Morgan Stanley forecasts a full year FY23 dividend of 0.00 cents and EPS of minus -32.00 cents.
Morgan Stanley forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -16.00 cents.

EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

0

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

APX STOCK CHART