Answer – You can’t compute the implied forward P/E or EV/EBITDA from the press‑release alone
The Business Wire release about Mitek Systems’ (NASDAQ: MITK) fiscal‑2025 third‑quarter results tells us that the company:
Raised the midpoint of its *revenue** and adjusted EBITDA margin guidance ranges for the full‑year fiscal‑2025 (ending Sept 30 2025).
Reported SaaS‑revenue growth of *23 % YoY** for the quarter.
However, the release does not disclose the actual numbers that are needed to calculate valuation multiples, such as:
| Required figure | Why it’s needed for the multiple |
|---|---|
| Forward earnings per share (EPS) – the forecast net income (or adjusted net income) for FY 2025 divided by the current share count. | Forward P/E = Current share price ÷ FY 2025 EPS. |
| Adjusted EBITDA for FY 2025 – the forecast EBITDA amount (or the midpoint of the EBITDA‑margin guidance multiplied by the forecast revenue). | EV/EBITDA = Enterprise value ÷ FY 2025 EBITDA. |
| Enterprise value (EV) – market‑cap + total debt – cash & cash equivalents (or the “net‑debt” figure). | EV is the denominator for EV/EBITDA. |
| Current market price per share (or market‑cap). | Needed for forward P/E and for EV. |
| Share count (to convert net income to EPS). | Needed for forward P/E. |
| Total debt and cash (to compute EV). | Needed for EV/EBITDA. |
Because the press‑release only mentions “raised the midpoint of its revenue and adjusted EBITDA margin guidance ranges” without giving the actual revenue, EBITDA‑margin, or net‑income guidance numbers, we cannot plug those values into the formulas below.
How you would calculate the multiples if the missing data were available
- Forward P/E
[
\text{Forward P/E} = \frac{\text{Current share price (or market‑cap / shares outstanding)}}{\text{Forecast FY 2025 EPS}}
]
Forecast FY 2025 EPS = (Forecast FY 2025 net income or adjusted net income) ÷ (Shares outstanding).
- EV/EBITDA
[
\text{EV/EBITDA} = \frac{\text{Enterprise value (EV)}}{\text{Forecast FY 2025 Adjusted EBITDA}}
]
Enterprise value (EV) = Market‑cap + Total debt – Cash & cash equivalents.
Forecast FY 2025 Adjusted EBITDA can be derived from the EBITDA‑margin guidance:
[
\text{Adjusted EBITDA} = \text{Revenue guidance (midpoint)} \times \text{EBITDA‑margin guidance (midpoint)}
]
For example, if the updated guidance said “Revenue $X million and adjusted EBITDA margin Y %,” then:
[
\text{Adjusted EBITDA} = X \times \frac{Y}{100}
]
- Interpretation
- A lower forward P/E suggests the market is pricing the stock cheaply relative to its expected earnings (or that earnings are expected to rise sharply).
- A lower EV/EBITDA indicates a cheaper valuation relative to cash‑flow generation; a higher multiple can signal higher growth expectations or a premium valuation.
Where to find the missing numbers
- Mitek’s investor‑relations website (usually a “Financial Results” or “Earnings Release” PDF) will contain the full FY 2025 guidance: revenue range, adjusted EBITDA‑margin range, and sometimes the implied FY 2025 adjusted EBITDA figure.
- Form 10‑K (annual report) or Form 10‑Q (quarterly report) filed with the SEC will list the most recent net‑income, adjusted EBITDA, and balance‑sheet items (cash, debt, share count).
- Market data providers (e.g., Bloomberg, Reuters, Yahoo Finance) can give the current share price, market‑cap, total debt, and cash needed to compute EV.
Once you have:
- FY 2025 revenue guidance midpoint (or the actual FY 2025 revenue if already reported),
- FY 2025 adjusted EBITDA‑margin midpoint,
- Current share price (or market‑cap) and shares outstanding, and
- Total debt and cash,
you can plug those numbers into the formulas above to obtain the implied forward P/E and EV/EBITDA valuations.
Bottom line
Based solely on the information in the Business Wire release, the implied forward P/E and EV/EBITDA cannot be calculated because the necessary guidance figures (revenue amount, EBITDA‑margin percentage, net‑income/EPS, and balance‑sheet data) are not disclosed.
To derive those multiples, you’ll need to retrieve the detailed guidance numbers from Mitek’s full earnings release or SEC filings, then apply the standard valuation formulas outlined above.