MITK

Mitek Systems, Inc.

Fundamental data last updated:November 1, 2026

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company profile

SECTOR

Technology

industry

Software - Application

Exchange

NASDAQ

County of HQ

US

Next Earnings Date

Pending Announcement

Business Summary

Mitek Systems, Inc. develops, markets, and sells mobile image capture and digital identity verification solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and web browsers to facilitate digital consumer experiences. It offers Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; and Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications. The company also provides Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion; and MiSnap, a mobile-capture software development kit that enables an intuitive user experience and instant capture of quality images of identity documents and checks. In addition, it offers CheckReader that enables financial institutions to automatically extract data from checks; Check Fraud Defender, an AI-powered and cloud-hosted model for fighting check fraud; and Check Intelligence that enables financial institutions to automatically extract data from a check image received across any deposit channel, including branch, ATM, remote deposit capture, and mobile. Further, the company provides ID_CLOUD, an automated identity verification solution that is integrated into a customers' application to read and validate identity documents; IDLive Face, a passive facial liveness detection product; IDVoice, a robust AI-driven voice biometric engine; IDLive Voice that helps stop spoofing attacks on voice biometric systems; and IDLive Doc that works to fight fraud related to digitally displayed document images. Mitek Systems, Inc. was incorporated in 1986 and is based in San Diego, California.

 


VALUATION

P/E

45.80

Market Cap ($M USD)

$760.48M

Forward P/E

11.34

PEG

0.04

PRICE TO SALES

4.01

PRICE TO BOOK

3.17

EV / EBITDA

15.67

5-Year Average P/E

Free Cash Flow Yield

5.86%

DCF Value

$11.76

Graham Number

$6.63

Price to FCF

17.07

EV to FCF

16.70

Earnings Yield

2.18%

FCF Yield

5.86%

DIVIDEND

Yield

0.00%

Annual Payout

$0.00

Payout Ratio

0.00%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

$0.37

Next Year EPS Growth Estimate

$1.49

Next Year Revenue Growth Estimate

$233.65M

Return on Equity (ROE)

6.97%

FREE CASH FLOW

Operating Margin

14.50%

Debt-to-Equity

0.65

Piotroski F-Score

8

Altman Z-Score

4.91

Return on Invested Capital (ROIC)

9.26%

Current Ratio

2.61

Quick Ratio

2.61

Net Debt to EBITDA

-0.35

Interest Coverage

3.07

Gross Profit margin

88.00%

FCF PER SHARE

$0.99

REVENUE PER SHARE

$4.21

Gainseekers Quantitative Analysis

Summary

The market seems to have mispriced Mitek Systems, Inc., trading above its DCF value and Graham Number, suggesting a potential overvaluation. However, the Forward P/E of 10.20 and a robust Altman Z-score of 4.59 indicate financial stability and growth potential. The earnings yield of 2.36% is modest, but the company’s impressive Piotroski F-Score of 8 signals strong operational efficiency. Despite these strengths, the stock’s valuation multiples, such as a Price/Book of 2.94, suggest caution. Overall, the financial health appears solid, but the current market price may not fully reflect intrinsic value.

AI Exposure / Tech Reliance

Operating in the Software - Application industry, Mitek Systems is well-positioned to capitalize on AI advancements. The company's technology focus allows it to integrate AI solutions, enhancing product offerings and operational efficiencies. This adaptability is crucial in maintaining a competitive edge in a rapidly evolving tech landscape.

The Bull Case

For the value or GARP investor, Mitek Systems presents a compelling case with its ROIC of 9.26% and a solid FCF Yield of 6.32%. The high Piotroski F-Score of 8 underscores strong financial health and operational efficiency, while an operating margin of 14.50% highlights effective cost management. These metrics suggest that the company has significant pricing power and capital efficiency, making it an attractive investment for those seeking growth at a reasonable price.

The Bear Case

Despite its strengths, Mitek Systems faces structural risks with a Price/Sales ratio of 3.72 and a Price/Book of 2.94, indicating potential overvaluation. The stock's proximity to its 52-week high, just 1.22% away, suggests it may be technically overextended. Additionally, the zero dividend yield and payout ratio could deter income-focused investors. These factors, combined with a modest earnings yield, raise concerns about the stock's current valuation.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Buy

Average Analyst Price Target

$16.00

Institutional Ownership %

1-Year Beta

0.96

Insider Buying % (6 Mo)

Distance to 52-Week High

2.55%

Distance to 52-Week Low

49.35%

EARNINGS SURPRISE %

46.15%

50-DAY SMA

$14.51

200-DAY SMA

$11.49

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.