Spirent Communications plc
LSE:SPT

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Spirent Communications plc Logo
Spirent Communications plc
LSE:SPT
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Price: 168 GBX -1.12% Market Closed
Market Cap: 960.5m GBX
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Intrinsic Value

The intrinsic value of one SPT stock under the Base Case scenario is 154.55 GBX. Compared to the current market price of 168 GBX, Spirent Communications plc is Overvalued by 8%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

SPT Intrinsic Value
154.55 GBX
Overvaluation 8%
Intrinsic Value
Price
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Base Case
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Spirent Communications plc

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

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Financials
Annual
Quarterly
TTM
Annual
Quarterly
TTM

Balance Sheet Decomposition
Spirent Communications plc

Current Assets 273.5m
Cash & Short-Term Investments 131m
Receivables 102.2m
Other Current Assets 40.3m
Non-Current Assets 294.9m
PP&E 31.7m
Intangibles 204.1m
Other Non-Current Assets 59.1m
Current Liabilities 150.4m
Accounts Payable 49.8m
Other Current Liabilities 100.6m
Non-Current Liabilities 43.1m
Long-Term Debt 11.5m
Other Non-Current Liabilities 31.6m
Efficiency

Earnings Waterfall
Spirent Communications plc

Revenue
447.7m USD
Cost of Revenue
-126.9m USD
Gross Profit
320.8m USD
Operating Expenses
-295.3m USD
Operating Income
25.5m USD
Other Expenses
-12.2m USD
Net Income
13.3m USD

Free Cash Flow Analysis
Spirent Communications plc

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

Spirent Communications experienced a challenging first quarter in 2023, which led to a decline in revenue and operating profit. However, the second quarter saw a return of business momentum, with order intake matching the previous year's strong Q2, resulting in a solid orderbook exceeding $300 million. This improved visibility gives management confidence in their strategy and pipeline, expecting to capture significant customer opportunities in the second half. Gross margins have remained stable at 72%, supply chain issues are resolving, and costs are well-controlled, with proactive cost management and sustained investment in R&D as key priorities. These factors contribute to their positive full-year outlook.

What is Earnings Call?
Fundamental Scores

SPT Profitability Score
Profitability Due Diligence

Spirent Communications plc's profitability score is 53/100. The higher the profitability score, the more profitable the company is.

Positive Gross Profit
Positive Free Cash Flow
Positive 3-Year Average ROIC
Positive 3-Year Average ROE
53/100
Profitability
Score

Spirent Communications plc's profitability score is 53/100. The higher the profitability score, the more profitable the company is.

SPT Solvency Score
Solvency Due Diligence

Spirent Communications plc's solvency score is 92/100. The higher the solvency score, the more solvent the company is.

92/100
Solvency
Score

Spirent Communications plc's solvency score is 92/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

SPT Price Targets Summary
Spirent Communications plc

Wall Street analysts forecast SPT stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for SPT is 207.06 GBX with a low forecast of 186.85 GBX and a high forecast of 236.25 GBX.

Lowest
Price Target
186.85 GBX
11% Upside
Average
Price Target
207.06 GBX
23% Upside
Highest
Price Target
236.25 GBX
41% Upside
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Dividends

Dividend Yield
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Dividend Per Share
N/A
Growth 3Y
Growth 5Y
Growth 10Y
Dividend Safety Score
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0
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Shareholder Yield

Current shareholder yield for SPT is .

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Profile

Spirent Communications plc Logo
Spirent Communications plc

Country

United Kingdom

Industry

Communications

Market Cap

970.4m GBP

Dividend Yield

2.94%

Description

Spirent Communications Plc engages in the development of communication technologies. The company is headquartered in Crawley, West Sussex and currently employs 1,500 full-time employees. The Company’s segments include Networks & Security, Lifecycle Service Assurance and Connected Devices. Networks & Security is engaged in ethernet/Internet protocol performance testing, in wireless fidelity and automotive ethernet, and develops test methodologies, tools and services for virtualized networks and Cloud. Lifecycle Service Assurance solutions that automate service turn-up, monitoring and troubleshooting of live fifth-generation wireless (5G), long-term evolution, ethernet, secure digital wide area network and cloud networks. Connected Devices offers an automated test solutions and service for mobile devices and supported voice, video and location services in the lab or on operational networks.

Contact

WEST SUSSEX
Crawley
Origin One, 108 High Street
+441293767676.0
www.spirent.com

IPO

1986-01-03

Employees

1 500

Officers

CEO & Director
Mr. Eric Allen Updyke
Chief Financial & Operations Officer and Executive Director
Ms. Paula Bell CGMA, FCMA
CTO and GM of Cloud & IP
Mr. David Larson
Company Secretary & General Counsel
Mr. Angus Edward Iveson
Executive Vice President of Marketing, Strategy & Corporate Development
Mr. Nigel Wright
Executive Vice President of Global Sales & Services
Mr. Manuel Zepeda
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Global Head of Human Resources
Ms. Ann Menard
President & CEO of Spirent Federal Systems
Mr. Rob VanBrunt
Senior Vice President of Global Operations
Mr. Jim Klaassen
Chief Network Officer of Dish Wireless
Mr. Marc Rouanne
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See Also

Discover More
What is the Intrinsic Value of one SPT stock?

The intrinsic value of one SPT stock under the Base Case scenario is 154.55 GBX.

Is SPT stock undervalued or overvalued?

Compared to the current market price of 168 GBX, Spirent Communications plc is Overvalued by 8%.

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