(OSPN) OneSpan - Overview
Stock: Authentication, E-Signature, Identity, Mobile, Platform
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 2.56% |
| Yield on Cost 5y | 1.51% |
| Yield CAGR 5y | 0.00% |
| Payout Consistency | 100.0% |
| Payout Ratio | 32.1% |
| Risk 5d forecast | |
|---|---|
| Volatility | 54.1% |
| Relative Tail Risk | -10.8% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.93 |
| Alpha | -56.81 |
| Character TTM | |
|---|---|
| Beta | 1.071 |
| Beta Downside | 0.983 |
| Drawdowns 3y | |
|---|---|
| Max DD | 59.01% |
| CAGR/Max DD | -0.09 |
Description: OSPN OneSpan December 27, 2025
OneSpan Inc. (NASDAQ: OSPN) delivers a portfolio of digital-security solutions-including cloud-based multifactor authentication, mobile-app shielding, electronic-signature platforms, and identity-verification services-to enterprises across North America, EMEA, and APAC. Its product suite spans Cloud Authentication (biometrics, push, visual cryptograms), the Mobile Security Suite SDK, Digipass hardware tokens, OneSpan Sign and Notary for e-signatures, and an integration platform that plugs into Microsoft, Google, Salesforce and Workday ecosystems.
From a financial-performance standpoint, OneSpan reported FY 2023 revenue of roughly $210 million, representing a year-over-year increase of about 12 % and an ARR (annual recurring revenue) growth rate of ~ 15 % YoY, with net dollar retention hovering near 115 %-indicating that existing customers are expanding usage of its cloud services. The company’s gross margin has been stable around 80 %, reflecting the high-margin nature of SaaS-based security offerings.
Key macro drivers for OneSpan’s market include accelerating regulatory mandates for strong customer authentication (e.g., Europe’s PSD2, the U.S. NIST 800-63 guidelines) and the broader corporate shift toward remote work, which fuels demand for secure digital transaction workflows. The global identity-verification market is projected to grow at a CAGR of ~ 14 % through 2028, providing a sizable tailwind for vendors that can combine compliance with frictionless user experiences.
OneSpan’s go-to-market model leverages a mix of direct sales, channel partners, system integrators, and OEM arrangements, allowing it to penetrate both large-enterprise and mid-market segments while scaling efficiently across geographies.
For a deeper quantitative comparison of OneSpan’s valuation metrics, you might find ValueRay’s analyst toolkit useful.
Piotroski VR‑10 (Strict, 0-10) 5.5
| Net Income: 58.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.15 > 0.02 and ΔFCF/TA 2.30 > 1.0 |
| NWC/Revenue: 27.96% < 20% (prev 25.08%; Δ 2.88% < -1%) |
| CFO/TA 0.17 > 3% & CFO 58.1m > Net Income 58.1m |
| Net Debt (-76.8m) to EBITDA (59.5m): -1.29 < 3 |
| Current Ratio: 1.75 > 1.5 & < 3 |
| Outstanding Shares: last quarter (38.8m) vs 12m ago -1.75% < -2% |
| Gross Margin: 73.87% > 18% (prev 0.71%; Δ 7317 % > 0.5%) |
| Asset Turnover: 76.31% > 50% (prev 84.67%; Δ -8.37% > 0%) |
| Interest Coverage Ratio: -180.9 > 6 (EBITDA TTM 59.5m / Interest Expense TTM -277.0k) |
Altman Z'' 5.61
| A: 0.20 (Total Current Assets 157.5m - Total Current Liabilities 90.0m) / Total Assets 343.5m |
| B: 0.50 (Retained Earnings 170.9m / Total Assets 343.5m) |
| C: 0.16 (EBIT TTM 50.1m / Avg Total Assets 316.4m) |
| D: 1.56 (Book Value of Equity 164.3m / Total Liabilities 105.2m) |
| Altman-Z'' Score: 5.61 = AAA |
Beneish M -2.79
| DSRI: 1.27 (Receivables 44.2m/35.2m, Revenue 241.4m/244.9m) |
| GMI: 0.95 (GM 73.87% / 70.53%) |
| AQI: 1.11 (AQ_t 0.46 / AQ_t-1 0.41) |
| SGI: 0.99 (Revenue 241.4m / 244.9m) |
| TATA: 0.00 (NI 58.1m - CFO 58.1m) / TA 343.5m) |
| Beneish M-Score: -2.79 (Cap -4..+1) = A |
What is the price of OSPN shares?
Over the past week, the price has changed by -5.62%, over one month by -13.59%, over three months by -10.28% and over the past year by -41.34%.
Is OSPN a buy, sell or hold?
- StrongBuy: 2
- Buy: 0
- Hold: 2
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the OSPN price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 16.5 | 46.7% |
| Analysts Target Price | 16.5 | 46.7% |
| ValueRay Target Price | 10.9 | -3.5% |
OSPN Fundamental Data Overview February 05, 2026
P/S = 1.7778
P/B = 1.902
Revenue TTM = 241.4m USD
EBIT TTM = 50.1m USD
EBITDA TTM = 59.5m USD
Long Term Debt = 8.78m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 2.32m USD (from shortTermDebt, last quarter)
Debt = 8.78m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -76.8m USD (from netDebt column, last quarter)
Enterprise Value = 352.5m USD (429.2m + Debt 8.78m - CCE 85.6m)
Interest Coverage Ratio = -180.9 (Ebit TTM 50.1m / Interest Expense TTM -277.0k)
EV/FCF = 7.03x (Enterprise Value 352.5m / FCF TTM 50.1m)
FCF Yield = 14.22% (FCF TTM 50.1m / Enterprise Value 352.5m)
FCF Margin = 20.76% (FCF TTM 50.1m / Revenue TTM 241.4m)
Net Margin = 24.08% (Net Income TTM 58.1m / Revenue TTM 241.4m)
Gross Margin = 73.87% ((Revenue TTM 241.4m - Cost of Revenue TTM 63.1m) / Revenue TTM)
Gross Margin QoQ = 73.62% (prev 73.47%)
Tobins Q-Ratio = 1.03 (Enterprise Value 352.5m / Total Assets 343.5m)
Interest Expense / Debt = 4.73% (Interest Expense 415.0k / Debt 8.78m)
Taxrate = 22.52% (1.89m / 8.41m)
NOPAT = 38.8m (EBIT 50.1m * (1 - 22.52%))
Current Ratio = 1.75 (Total Current Assets 157.5m / Total Current Liabilities 90.0m)
Debt / Equity = 0.04 (Debt 8.78m / totalStockholderEquity, last quarter 238.3m)
Debt / EBITDA = -1.29 (Net Debt -76.8m / EBITDA 59.5m)
Debt / FCF = -1.53 (Net Debt -76.8m / FCF TTM 50.1m)
Total Stockholder Equity = 231.1m (last 4 quarters mean from totalStockholderEquity)
RoA = 18.38% (Net Income 58.1m / Total Assets 343.5m)
RoE = 25.16% (Net Income TTM 58.1m / Total Stockholder Equity 231.1m)
RoCE = 20.88% (EBIT 50.1m / Capital Employed (Equity 231.1m + L.T.Debt 8.78m))
RoIC = 16.80% (NOPAT 38.8m / Invested Capital 231.1m)
WACC = 9.74% (E(429.2m)/V(438.0m) * Re(9.86%) + D(8.78m)/V(438.0m) * Rd(4.73%) * (1-Tc(0.23)))
Discount Rate = 9.86% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -1.67%
[DCF Debug] Terminal Value 72.53% ; FCFF base≈44.3m ; Y1≈45.7m ; Y5≈51.4m
Fair Price DCF = 19.65 (EV 670.5m - Net Debt -76.8m = Equity 747.3m / Shares 38.0m; r=9.74% [WACC]; 5y FCF grow 3.16% → 2.90% )
EPS Correlation: 64.77 | EPS CAGR: 1.39% | SUE: -3.29 | # QB: 0
Revenue Correlation: 52.52 | Revenue CAGR: -0.96% | SUE: -0.45 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.35 | Chg30d=+0.000 | Revisions Net=-4 | Analysts=5
EPS next Year (2026-12-31): EPS=1.42 | Chg30d=+0.000 | Revisions Net=-5 | Growth EPS=+1.6% | Growth Revenue=+2.0%