Mitek Systems (MITK) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Mitek Systems

NasdaqCM•Technology•Software - Application

$17.22+0.12(0.01%)Pre-market

Market Cap

$799.60M

P/E

35.5x

P/S

4.0x

P/B

3.2x

Mitek Systems, Inc. provides digital identity verification and fraud prevention solutions worldwide. The company offers Mobile Deposit, a mobile remote deposit capture solution for retail financial institutions, brokerages, and prepaid card providers; Check Fraud Defender, a cloud-hosted fraud mitigation service; Mitek Verified Identity Platform, an end-to-end identity verification solution; Mobile Verify, an omnichannel identity document verification engine; MiSnap, a software development kit that replaces manual image capture with auto-capture; CheckReader, which enables financial institutions to automatically extract data from checks once they have been scanned or photographed by the application; and Check Intelligence, a check fraud solution. It also provides IDLive Face, a passive face liveness detection; IDLive Doc, a document liveness detection; and IDLive Voice, an anti-spoofing voice liveness. The company was incorporated in 1986 and is based in San Diego, California.

How this company scores

ExcellentMetricSide Score: 81/100

Strongest: Growth (23/25); weakest: Cash & Earnings Quality (17/25).

Profitability18/25

Growth23/25

Balance Sheet & Red Flags23/25

Cash & Earnings Quality17/25

Strengths

Strong marginsRising earningsLow leverageInterest easily covered

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 35.5x5y range 28.3x – 135.1x

Currently below its 17-quarter median.

P/S · 4.0x5y range 2.1x – 6.7x

Currently above its 20-quarter median.

P/B · 3.2x5y range 1.7x – 4.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Price & Volume

Market Cap $799.60M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $197.90M
Q. Revenue: $54.04M
TTM EBITDA: $49.88M
TTM Op. Income: $35.22M
Q. Op. Income: $11.54M
TTM Net Income: $22.54M
Q. Net Income: $8.37M
EPS: $0.19
Shares Out.: $45.17M

$197.90M in TTM revenue grew 11.1% YoY, reaching $54.04M last quarter. TTM EBITDA of $49.88M and TTM operating income of $35.22M show growth is flowing through to the bottom line. TTM net income of $22.54M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 28.4%
Op. Margin: 21.4%
Net Margin: 15.5%

Op. margin of 21.4% is up 13.0% YoY — cost efficiency is improving. Net margin at 15.5% Over the past year, operating margin is up 156% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 35.5x
P/S Ratio: 4.0x
P/B Ratio: 3.2x

At 35.5x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 4.0x and P/B of 3.2x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 21% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $368.06M
Cash: $90.05M
Long-Term Debt: $46.56M
Book Value: $250.52M
D/E Ratio: 0.2
Debt/EBITDA: 3.0

With $368.06M in assets and $46.56M in long-term debt, D/E is 0.2and book value is $250.52M — a conservative capital structure with a cushion to weather downturns. Across the last 4 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $27.16M
TTM Free Cash Flow: $48.61M
FCF Margin: 24.6%
FCF / Net Income: 2.2

TTM FCF of $48.61M on $27.16M in operating cash flow. The FCF / Net Income ratio of 2.2x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is down 13% — an improving trend.