(OSPN) OneSpan - Overview
Sector: Technology | Industry: Software - Infrastructure | Exchange: NASDAQ (USA) | Market Cap: 508m USD | Total Return: -5.2% in 12m
Avg Turnover: 6.67M
Qual. Beats: 0
Rev. Trend: 68.6%
Qual. Beats: 2
Warnings
Extended 1w
Tailwinds
Supp Ema20
OneSpan Inc. (OSPN) provides digital security and identity verification solutions through its Cybersecurity and Digital Agreements segments. The company’s portfolio includes multifactor authentication, mobile application shielding, and e-signature platforms designed to secure digital workflows and transactions globally. Historically known as VASCO Data Security International, the firm serves financial institutions and enterprises through direct sales and a network of distributors and systems integrators.
The company operates within the cybersecurity and digital agreement sector, a market characterized by high switching costs due to the deep integration of authentication protocols into client infrastructure. OneSpan’s business model is increasingly focused on transition toward subscription-based software services to provide recurring revenue streams and enhance scalability across its cloud authentication and electronic notary products.
Investors may find additional valuation insights and performance metrics by exploring the data available on ValueRay.
- Transition from legacy hardware tokens to recurring software subscriptions drives margin expansion
- Growth in e-signature market share competes with established leaders like DocuSign
- Financial services sector spending levels dictate demand for authentication and security suites
- Operational efficiency initiatives and cost reductions impact bottom line profitability targets
- Increasing global data privacy regulations drive adoption of identity verification and notary solutions
| Net Income: 70.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA -2.87 > 1.0 |
| NWC/Revenue: 10.12% < 20% (prev 34.56%; Δ -24.43% < -1%) |
| CFO/TA 0.15 > 3% & CFO 57.1m > Net Income 70.0m |
| Net Debt (-41.8m) to EBITDA (60.3m): -0.69 < 3 |
| Current Ratio: 1.25 > 1.5 & < 3 |
| Outstanding Shares: last quarter (38.1m) vs 12m ago -2.45% < -2% |
| Gross Margin: 70.53% > 18% (prev 0.72%; Δ 6.98k% > 0.5%) |
| Asset Turnover: 68.56% > 50% (prev 72.41%; Δ -3.85% > 0%) |
| Interest Coverage Ratio: 2.45k > 6 (EBITDA TTM 60.3m / Interest Expense TTM 19.0k) |
| A: 0.06 (Total Current Assets 122.9m - Total Current Liabilities 98.0m) / Total Assets 383.1m |
| B: 0.56 (Retained Earnings 216.4m / Total Assets 383.1m) |
| C: 0.13 (EBIT TTM 46.6m / Avg Total Assets 358.5m) |
| D: 1.88 (Book Value of Equity 208.4m / Total Liabilities 111.1m) |
| Altman-Z'' = 5.11 = AAA |
| DSRI: 1.15 (Receivables 46.8m/40.2m, Revenue 245.8m/241.7m) |
| GMI: 1.02 (GM 70.53% / 72.10%) |
| AQI: 1.49 (AQ_t 0.60 / AQ_t-1 0.40) |
| SGI: 1.02 (Revenue 245.8m / 241.7m) |
| TATA: 0.03 (NI 70.0m - CFO 57.1m) / TA 383.1m) |
| Beneish M = -2.55 (Cap -4..+1) = A |
As of May 30, 2026, the stock is trading at USD 14.44 with a total of 584,724 shares traded.
Over the past week, the price has changed by +12.64%,
over one month by +27.04%,
over three months by +33.85% and
over the past year by -5.16%.
OneSpan has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy OSPN.
- StrongBuy: 2
- Buy: 0
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 16.3 | 12.5% |
P/E Trailing = 7.5746
P/E Forward = 10.2564
P/S = 1.9791
P/B = 1.7895
P/EG = 0.9325
Revenue TTM = 245.8m USD
EBIT TTM = 46.6m USD
EBITDA TTM = 60.3m USD
Long Term Debt = 5.80m USD (estimated: total debt 7.96m - short term 2.16m)
Short Term Debt = 2.16m USD (from shortTermDebt, last quarter)
Debt = 7.96m USD (from shortLongTermDebtTotal, last quarter) (leases 7.96m already included)
Net Debt = -41.8m USD (calculated: Debt 7.96m - CCE 49.8m)
Enterprise Value = 466.5m USD (508.3m + Debt 7.96m - CCE 49.8m)
Interest Coverage Ratio = 2.45k (Ebit TTM 46.6m / Interest Expense TTM 19.0k)
EV/FCF = 10.00x (Enterprise Value 466.5m / FCF TTM 46.6m)
FCF Yield = 10.00% (FCF TTM 46.6m / Enterprise Value 466.5m)
FCF Margin = 18.98% (FCF TTM 46.6m / Revenue TTM 245.8m)
Net Margin = 28.47% (Net Income TTM 70.0m / Revenue TTM 245.8m)
Gross Margin = 70.53% ((Revenue TTM 245.8m - Cost of Revenue TTM 72.4m) / Revenue TTM)
Gross Margin QoQ = 73.57% (prev 61.74%)
Tobins Q-Ratio = 1.22 (Enterprise Value 466.5m / Total Assets 383.1m)
Interest Expense / Debt = 0.24% (Interest Expense 19.0k / Debt 7.96m)
Taxrate = 19.75% (2.85m / 14.4m)
NOPAT = 37.4m (EBIT 46.6m * (1 - 19.75%))
Current Ratio = 1.25 (Total Current Assets 122.9m / Total Current Liabilities 98.0m)
Debt / Equity = 0.03 (Debt 7.96m / totalStockholderEquity, last quarter 272.0m)
Debt / EBITDA = -0.69 (Net Debt -41.8m / EBITDA 60.3m)
Debt / FCF = -0.90 (Net Debt -41.8m / FCF TTM 46.6m)
Total Stockholder Equity = 256.2m (last 4 quarters mean from totalStockholderEquity)
RoA = 19.52% (Net Income 70.0m / Total Assets 383.1m)
RoE = 27.31% (Net Income TTM 70.0m / Total Stockholder Equity 256.2m)
RoCE = 17.78% (EBIT 46.6m / Capital Employed (Equity 256.2m + L.T.Debt 5.80m))
RoIC = 15.74% (NOPAT 37.4m / Invested Capital 237.6m)
WACC = 9.34% (E(508.3m)/V(516.2m) * Re(9.48%) + D(7.96m)/V(516.2m) * Rd(0.24%) * (1-Tc(0.20)))
Discount Rate = 9.48% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -46.67 | Cagr: -2.28%
[DCF] Terminal Value 70.93% ; FCFF base≈48.1m ; Y1≈45.4m ; Y5≈42.5m
[DCF] Fair Price = 16.64 (EV 575.1m - Net Debt -41.8m = Equity 616.9m / Shares 37.1m; r=9.34% [WACC]; 5y FCF grow -7.11% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.74 | # QB: 0
Revenue Correlation: 68.64 | Revenue CAGR: 2.10% | SUE: 1.15 | # QB: 2
EPS current Quarter (2026-06-30): EPS=0.23 | Chg30d=-9.45% | Revisions=-25% | Analysts=5
EPS next Quarter (2026-09-30): EPS=0.29 | Chg30d=+5.07% | Revisions=+43% | Analysts=5
EPS current Year (2026-12-31): EPS=1.22 | Chg30d=+0.00% | Revisions=-25% | GrowthEPS=-18.4% | GrowthRev=+1.3%
EPS next Year (2027-12-31): EPS=1.31 | Chg30d=-0.61% | Revisions=-14% | GrowthEPS=+7.9% | GrowthRev=+3.0%
[Analyst] Revisions Ratio: +43%