Everquote Intrinsic Value Calculation – EVERQUOTE Reports Q2 FY2023 Earnings on August 7, 2023
August 10, 2023
🌥️Earnings Overview
On August 7, 2023, EVERQUOTE ($NASDAQ:EVER) released its earnings results for the second quarter of FY2023, ending on June 30, 2023. The total revenue for that quarter was USD 68.0 million, which represented a drop of 33.3% compared to the same period the year before. The net income for that quarter was reported as USD -13.2 million, down from -3.8 million in the same quarter of the previous year.
Stock Price
On Monday, August 7, 2023, EVERQUOTE reported its Q2 FY2023 earnings. The stock opened the day at $6.8 and closed at $6.6, representing a 2.7% decline from its previous closing price of $6.8. This decrease in the stock price can mainly be attributed to the fact that EVERQUOTE’s earnings were lower than expected. Investors were also concerned about the company’s future prospects due to the uncertainty in the market and the global economy in general. Despite the drop in stock price, EVERQUOTE’s management provided a positive outlook for the company, noting that they remain confident in their ability to deliver strong results. The company highlighted its focus on technology and customer experience, two areas which they believe will provide the company with a competitive advantage in the future.
In addition, EVERQUOTE’s management emphasized that they are continuing to invest in their team, operations, and technology to drive long-term growth in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Everquote. More…
| Total Revenues | Net Income | Net Margin |
| 368.74 | -30.67 | -7.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Everquote. More…
| Operations | Investing | Financing |
| -6.31 | -4.32 | 0.39 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Everquote. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 145.06 | 39.52 | 3.38 |
Key Ratios Snapshot
Some of the financial key ratios for Everquote are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.0% | – | -7.3% |
| FCF Margin | ROE | ROA |
| -2.9% | -15.0% | -11.6% |
Analysis – Everquote Intrinsic Value Calculation
At GoodWhale, we have conducted a thorough analysis of EVERQUOTE‘s fundamentals and have arrived at an intrinsic value of $19.0 per share. This figure was calculated using our proprietary Valuation Line, which factors in metrics such as expected growth, revenue projections, and market sentiment. Currently, EVERQUOTE shares are trading at a price of $6.6, which is 65.2% below their intrinsic value. This suggests that EVERQUOTE is currently significantly undervalued by the market. More…
Peers
In the insurance quote comparison market, there are a few major players. EverQuote Inc is one of the largest, and its main competitors are MediaAlpha Inc, iSelect Ltd, and PB Fintech Ltd. All of these companies offer a similar product, but EverQuote has managed to stay ahead of the pack by constantly innovating and improving its offerings.
– MediaAlpha Inc ($NYSE:MAX)
MediaAlpha Inc is a publicly traded company with a market capitalization of $463.38M as of 2022. The company has a Return on Equity of -515.54%. MediaAlpha is a technology-enabled advertising platform that partners with insurance companies to drive more efficient and effective marketing spend. The company operates in the United States, Canada, and the United Kingdom.
– iSelect Ltd ($ASX:ISU)
Founded in 2014, AcelRx Pharmaceuticals, Inc. is a commercial-stage specialty pharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of moderate-to-severe pain. The Company’s lead product candidate, DSUVIA (sufentanil sublingual tablet, 30 mcg), is an investigational, orally dissolving, centrally-acting opioid analgesic formulation in a single-dose, pre-filled delivery system for the treatment of moderate-to-severe acute pain. The Company’s second product candidate, ZALVISO (sufentanil sublingual tablet, 15 mcg), is designed for the management of moderate-to-severe pain in adult patients in the hospital setting who require continuous or intermittent intravenous (IV) opioids for pain management.
– PB Fintech Ltd ($BSE:543390)
PBF Fintech Ltd is a global provider of financial technology solutions. The company offers a range of products and services, including payments processing, mobile banking, and merchant services. PBF Fintech Ltd has a market cap of 173.51B as of 2022, a Return on Equity of -10.53%. The company’s products and services are used by financial institutions of all sizes, from small businesses to large enterprises. PBF Fintech Ltd’s clients include banks, credit unions, and other financial services providers.
Summary
Investors in EVERQUOTE may be disappointed with the company’s second quarter results for FY2023, as total revenue decreased by 33.3% year-over-year and net income declined from -3.8 million to -13.2 million. EVERQUOTE’s total revenue and net income have been falling in the past few quarters, and investors may be concerned about the company’s long-term prospects and profitability. Nevertheless, the company still has potential for growth and further analysis may be required to assess the current situation in more depth.
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