Similarweb Ltd. (SMWB) 株式分析

企業概要

Similarweb Ltd. (SMWB) operates within the Technology sector as a dedicated software application provider, delivering digital data and analytics solutions that enable critical business decision-making across the United States, Europe, the Asia Pacific, the United Kingdom, Israel, and international markets. The firm specializes in web intelligence solutions designed to assist customers in benchmarking their performance against competitors, thereby facilitating strategic operational adjustments based on granular market insights. As of the latest reported period, the company maintains a market capitalization of $233.07 million and employs approximately 1,000 individuals to support its global analytical infrastructure. With annual revenue reaching $282.60 million, these valuation and operational figures indicate that Similarweb holds a significant position in the niche of web analytics, though its market cap reflects a smaller capitalization category compared to large-cap technology peers, suggesting a focus on specialized growth rather than established market dominance.

財務健全性

Similarweb Ltd. reported a total revenue of $282.60 million for the trailing twelve months, yet the company recorded a net income loss of $32,936,000 and an EBITDA loss of $16,188,000, highlighting a substantial divergence between top-line growth and profitability driven by high operational expenditures. The generation of $27.57 million in free cash flow provides the company with a degree of financial flexibility to fund ongoing research and development initiatives despite the reported accounting losses. Profitability analysis reveals a gross margin of 79.5%, indicating high efficiency in core product delivery, contrasted by a negative operating margin of -14.5% and a profit margin of -11.7%, which collectively signal that general and administrative expenses are currently outpacing operating income. The balance sheet shows a cash position of $72.42 million against total debt of $43.30 million, resulting in a debt-to-equity ratio of 185.61 that suggests a leveraged capital structure where equity capital is diluted relative to liabilities. Liquidity assessment via the current ratio of 0.77 indicates that current assets are insufficient to cover current liabilities without additional financing or operational cash generation. Furthermore, the return on equity stands at -129.6% and return on assets at -5.8%, metrics that reveal management has not yet achieved positive returns on the capital invested, reflecting the current phase of reinvestment required to achieve sustainable earnings.

バリュエーション評価

The valuation metrics for Similarweb present a forward P/E ratio of 10.97 while the trailing P/E ratio is N/A, implying that the market is pricing the stock based on anticipated future earnings rather than historical profitability, as the company has not yet generated consistent net income. The price-to-book ratio is recorded at 10.00, which indicates that the market assigns a significant premium to the company's intangible assets and future growth potential relative to its book value. Alternative valuation measures include a price-to-sales ratio of 0.82 and an EV/EBITDA of -12.60, suggesting the stock is valued based on sales multiples due to the lack of positive earnings, while the negative EV/EBITDA reinforces the current unprofitability status. In terms of trading range, the 52-week high is $10.75 and the 52-week low is $2.22, placing the current share price within a volatile band that reflects significant investor sentiment swings over the last year. The stock exhibits a beta of 1.11, indicating that its price volatility is slightly higher than the broader market, meaning it is expected to move with greater magnitude than the overall market index during periods of fluctuation.

Growth & Income

Revenue growth for the year-over-year period stands at 10.9%, whereas earnings growth is N/A due to the company's continued unprofitability, indicating that top-line expansion is currently the primary driver of business activity rather than earnings acceleration. As the company does not pay dividends, the dividend yield is N/A and the payout ratio is 0.0%, confirming that all available cash flow is being retained and reinvested into the business to support future growth initiatives rather than distributed to shareholders. The absence of a dividend program aligns with the company's strategy of prioritizing capital allocation toward scaling operations and achieving profitability over providing current income to investors. Overall, the company's profile is characterized by solid double-digit revenue expansion supported by strong free cash flow generation, yet it remains in a pre-profitability phase where growth metrics are decoupled from earnings performance.