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Bytes Technology Group PLC
LSE:BYIT

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Bytes Technology Group PLC Logo
Bytes Technology Group PLC
LSE:BYIT
Watchlist
Price: 566 GBX 1.52% Market Closed
Updated: Mar 2, 2024

Intrinsic Value

Bytes Technology Group Plc provides IT software offerings and solutions, with a focus on cloud and security products. [ Read More ]

The intrinsic value of one BYIT stock under the Base Case scenario is 466.51 GBX. Compared to the current market price of 566 GBX, Bytes Technology Group PLC is Overvalued by 18%.

Key Points:
BYIT Intrinsic Value
Base Case
466.51 GBX
Overvaluation 18%
Intrinsic Value
Price
Worst Case
Base Case
Best Case

Valuation Backtest
Bytes Technology Group PLC

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Fundamental Analysis

Bytes Reports Surge in Sales and Profits
2024-Q2 Earnings Call

Bytes Reports Surge in Sales and Profits

Bytes Technologies has achieved remarkable growth, surpassing GBP 1 billion in sales for the first time in a six-month period, up nearly 38%, driven by strategic contract wins. With a key win being a 5-year NHS contract, public sector Gross Invoiced Income (GII) grew 44% to GBP 722 million, contrasting a 25.7% rise in the corporate sector to GBP 360 million. The company also invested in their workforce, increasing headcount by 10%, and distributed a 12.5% higher interim dividend of 2.7p per share. Despite a shift to lower upfront margins for strategic gains, which lead gross profit to lag behind GII growth at a 15% increase, the overall progress outlines a sustained growth trajectory and robust financial health.

Financials

Balance Sheet Decomposition
Bytes Technology Group PLC

Current Assets 245.9m
Cash & Short-Term Investments 51.7m
Receivables 191.3m
Other Current Assets 2.9m
Non-Current Assets 57.5m
Long-Term Investments 3.1m
PP&E 9.8m
Intangibles 41.1m
Other Non-Current Assets 3.5m
Current Liabilities 240.6m
Accounts Payable 172.4m
Accrued Liabilities 50.5m
Other Current Liabilities 17.7m
Non-Current Liabilities 2.7m
Long-Term Debt 1.2m
Other Non-Current Liabilities 1.6m
Efficiency
Fundamental Scores

BYIT Profitability Score
Profitability Due Diligence

Bytes Technology Group PLC's profitability score is 74/100. The higher the profitability score, the more profitable the company is.

Exceptional 3-Year Average ROE
Exceptional 3-Year Average ROIC
Positive Gross Profit
Positive Free Cash Flow
74/100
Profitability
Score

Bytes Technology Group PLC's profitability score is 74/100. The higher the profitability score, the more profitable the company is.

BYIT Solvency Score
Solvency Due Diligence

Bytes Technology Group PLC's solvency score is 71/100. The higher the solvency score, the more solvent the company is.

High Interest Coverage
Negative Net Debt
Low D/E
Long-Term Solvency
71/100
Solvency
Score

Bytes Technology Group PLC's solvency score is 71/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

BYIT Price Targets Summary
Bytes Technology Group PLC

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

According to Wall Street analysts, the average 1-year price target for BYIT is 671.67 GBX with a low forecast of 580.75 GBX and a high forecast of 840 GBX.

Lowest
Price Target
580.75 GBX
3% Upside
Average
Price Target
671.67 GBX
19% Upside
Highest
Price Target
840 GBX
48% Upside
View Analyst Estimates
View Analyst Estimates

Competitive Landscape

Shareholder Return

BYIT Price
Bytes Technology Group PLC

1M 1M
-8%
6M 6M
+17%
1Y 1Y
+43%
3Y 3Y
+44%
5Y 5Y
+76%
10Y 10Y
+76%
Annual Price Range
566
52w Low
360.6
52w High
657
Price Metrics
Average Annual Return 13.52%
Standard Deviation of Annual Returns 50.32%
Max Drawdown -19%
Shares Statistics
Market Capitalization 1.4B GBX
Shares Outstanding 249 588 000
Percentage of Shares Shorted 51%

BYIT Return Decomposition
Main factors of price return

What is price return decomposition?

Company Profile

Bytes Technology Group PLC Logo
Bytes Technology Group PLC

Country

United Kingdom

Industry

Technology

Market Cap

1.4B GBP

Dividend Yield

1.42%

Description

Bytes Technology Group Plc provides IT software offerings and solutions, with a focus on cloud and security products. The company is headquartered in Leatherhead, Surrey and currently employs 685 full-time employees. The company went IPO on 2020-12-11. The firm enables technology sourcing, adoption, and management across software services, including in the areas of security and cloud. Its portfolio of services includes cloud, security, licensing, storage, virtualization and managed services. The firm comprises two brands: Bytes Software Services (BSS) and Phoenix Software (Phoenix). Bytes Software Services customer base is made up of both private sector customers and public sector customers, whilst Phoenix's focus is exclusively on public sector customers. Its services also includes software services, datacenter services, data management services, deployment services and end user computing. The firm provides support to a range of industries, including professional services, manufacturing, retail, central and local government, and technology.

Contact

SURREY
Leatherhead
Bytes House, Randalls Way
+441372418500.0
https://www.bytes.co.uk/

IPO

2020-12-11

Employees

685

Officers

CFO, COO & Executive Director
Mr. Andrew John Holden
Phoenix MD, Interim CEO & Executive Director
Ms. Sam Mudd
Director of Group Finance
Paul Emms
Managing Director of Bytes Software Services
Mr. Jack Watson
Group Sustainability Manager
Ms. Lisa Prickett
Company Secretary
Mr. Willem Karel Groenewald

See Also

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

The intrinsic value of one BYIT stock under the Base Case scenario is 466.51 GBX.

Is BYIT stock undervalued or overvalued?

Compared to the current market price of 566 GBX, Bytes Technology Group PLC is Overvalued by 18%.