Shoper S.A. (SHO.WA) | Investment Case

1. Company Snapshot

1.a. Company Description

Shoper SA provides Software as a Service solutions for e-commerce in Poland.The company offers subscription-based services for private label stores.It also provides Shoper payment, campaigns, and apps.

The company was founded in 2005 and is based in Kraków, Poland.

Show Full description

1.b. Last Insights on SHO

Shopper S.A.'s recent performance was negatively impacted by unfavorable market conditions, characterized by renewed trade tensions and geopolitical uncertainties. Despite a resilient European market, with the STOXX Europe 600 Index inching closer to record highs, the company's growth prospects may be affected. High insider ownership, which often aligns management interests with shareholders, may provide stability, but escalating economic challenges could weigh on Shopper S.A.'s short-term outlook. Recent optimism about future earnings and economic conditions may not be sufficient to offset these headwinds.

1.c. Company Highlights

Last Price	42.6
Change Percentage	1.19%
Open	43.4
Previous Close	42.1
Market Cap ( Millions)	1199
Volume	33994
Year High	60
Year Low	36.4
M A 50	49.32
M A 200	50.1

FCF Yield	4.81%
Dividend Yield	2.42%
ROE	57.40%
Debt / Equity	23.04%
Net Debt / EBIDTA	-14.79%
Price To Book	15.57
Price Earnings Ratio	27.62
Price To FCF	20.77
Price To sales	5.62
EV / EBITDA	15.21

2. Transcript Summary

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3. NewsRoom

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (15.40%)

6. Segments

Solutions

Expected Growth: 15.4%

Growing e-commerce adoption, increasing demand for online store creation, payment and shipping integrations, and marketing tools drive Shoper S.A.'s growth. The COVID-19 pandemic has accelerated the shift to online shopping, further boosting demand for Shoper's solutions.

Subscriptions

Expected Growth: 15.4%

Growing demand for recurring payment plans, increasing adoption of e-commerce, and rising need for customer loyalty programs drive the growth of subscriptions from Shoper S.A.

7. Detailed Products

E-commerce Platform

A comprehensive e-commerce platform for creating and managing online stores, providing tools for inventory management, order processing, and payment gateways.

Payment Gateway

A secure payment processing system that enables online transactions, supporting various payment methods and currencies.

Order Management System

A system for managing orders, including order tracking, shipping, and fulfillment, ensuring efficient order processing and customer satisfaction.

Inventory Management System

A system for managing inventory levels, tracking stock, and automating inventory updates, ensuring accurate stock levels and reducing stockouts.

Customer Service Platform

A platform for managing customer inquiries, returns, and exchanges, providing a comprehensive customer service experience.

Marketing and Promotion Tools

A suite of tools for creating and managing marketing campaigns, promotions, and loyalty programs, driving sales and customer engagement.

8. Shoper S.A.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Shoper S.A. operates in a market with a moderate threat of substitutes, as customers have some alternatives to online shopping platforms.

Bargaining Power Of Customers

Shoper S.A. faces a high bargaining power of customers, as they have many options to choose from and can easily switch to competitors.

Bargaining Power Of Suppliers

Shoper S.A. has a low bargaining power of suppliers, as it has a strong position in the market and can negotiate favorable terms with suppliers.

Threat Of New Entrants

Shoper S.A. operates in a market with a moderate threat of new entrants, as there are some barriers to entry, but new companies can still enter the market.

Intensity Of Rivalry

Shoper S.A. operates in a highly competitive market, with many players competing for market share, which leads to a high intensity of rivalry.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	25.46%
Debt Cost	6.15%
Equity Weight	74.54%
Equity Cost	6.15%
WACC	6.15%
Leverage	34.15%

11. Quality Control: Shoper S.A. passed 7 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Shoper

A-Score: 5.5/10

Value: 1.3

Growth: 9.4

Quality: 8.6

Yield: 1.9

Momentum: 7.5

Volatility: 4.3

1-Year Total Return ->

Mensch und Maschine Software

A-Score: 5.2/10

Value: 1.6

Growth: 6.9

Quality: 7.4

Yield: 6.2

Momentum: 1.5

Volatility: 7.3

1-Year Total Return ->

TXT

A-Score: 4.3/10

Value: 4.3

Growth: 9.1

Quality: 3.9

Yield: 1.2

Momentum: 3.0

Volatility: 4.3

1-Year Total Return ->

NCC Group

A-Score: 4.3/10

Value: 3.0

Growth: 4.1

Quality: 5.4

Yield: 4.4

Momentum: 3.0

Volatility: 5.7

1-Year Total Return ->

Truecaller

A-Score: 4.3/10

Value: 4.3

Growth: 6.3

Quality: 8.8

Yield: 5.0

Momentum: 0.5

Volatility: 0.7

1-Year Total Return ->

cBrain

A-Score: 3.4/10

Value: 0.5

Growth: 8.7

Quality: 7.7

Yield: 0.6

Momentum: 1.5

Volatility: 1.3

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-0.19%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

6.15%

Shoper S.A. - PLSHPR000021

1. Company Snapshot

1.a. Company Description

Shoper SA provides Software as a Service solutions for e-commerce in Poland.The company offers subscription-based services for private label stores.It also provides Shoper payment, campaigns, and apps.The company was founded in 2005 and is based in Kraków, Poland.

1.b. Last Insights on SHO

1.c. Company Highlights

Higher Growth

Expensive

Better Quality

Strong Momentum

Average Quality

Revenues Beats

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (15.40%)

6. Segments

Solutions

Expected Growth: 15.4%

Subscriptions

Expected Growth: 15.4%

7. Detailed Products

E-commerce Platform

Payment Gateway

Order Management System

Inventory Management System

Customer Service Platform

Marketing and Promotion Tools

8. Shoper S.A.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: Shoper S.A. passed 7 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

42.6$

Current Price

42.6$

Potential

-0.00%

Expected Cash-Flows

Shoper SA provides Software as a Service solutions for e-commerce in Poland.The company offers subscription-based services for private label stores.It also provides Shoper payment, campaigns, and apps.

The company was founded in 2005 and is based in Kraków, Poland.

12.e Scoring ^Insights

12.f DCF ^BETA