Share Name Share Symbol Market Type Share ISIN Share Description
Water Intel. LSE:WATR London Ordinary Share GB00BZ973D04 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -1.00p -0.33% 299.00p 1,913 12:21:01
Bid Price Offer Price High Price Low Price Open Price
290.00p 308.00p 300.00p 299.00p 300.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 13.04 0.85 5.92 48.6 45.5

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Date Time Title Posts
15/4/201913:24Water Intelligence - The Long Story360
22/6/201713:22Water intelligence (post QTI)159

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Water Intel. Daily Update: Water Intel. is listed in the Software & Computer Services sector of the London Stock Exchange with ticker WATR. The last closing price for Water Intel. was 300p.
Water Intel. has a 4 week average price of 257p and a 12 week average price of 257p.
The 1 year high share price is 450p while the 1 year low share price is currently 225p.
There are currently 15,233,969 shares in issue and the average daily traded volume is 4,755 shares. The market capitalisation of Water Intel. is £45,549,567.31.
someuwin: WHIreland comment on Today's news... "WATR has been growing all lines of its P&L rapidly – revenues by 44% in 2018 and we forecast continued fast growth in current and coming years. Strong profit growth as well (PBTA c.47% up YoY in ’18). Together with last week’s Florida reacquisition, this morning’s announcement of the sale of a new franchise illustrates the mechanics of this. (1) Reacquisitions, which are typically earnings enhancing and extremely lowrisk, help to drive the already strong growth in the business which WATR manages directly. (2) Franchise royalties continue to grow despite the reacquisitions, and this is further underpinned by the sale of new franchises to highly commercial new or existing franchisees. Demand for security of water is growing – but on top of this WATR has tapped in to the acute need of the insurance sector, which pays out $13bn or more annually in the US for water damage. WATR’s insurance-led sales nearly doubled in 2018 and are driving growth right across the business. In 2018, the franchise royalties grew, despite significant reacquisitions. The company outperformed against expectations in 2018 (by 14%), and will doubtless do so again, holding out the prospect of potential upgrades. A business swinging upwards justifies a much higher share price than the current price."
someuwin: WHIreland... WATR is a leading and geographically diversified specialist in precision, minimally-invasive leak detection and remediation in both drinking and waste water. Technology-led, the business uses solutions such as infra-red and acoustics and continues to expand its technology offering – a key differentiator against typical support services companies. The business has been a consistent performer with a history of delivering and exceeding expectations, although the share price, latterly, has marked time. WATR has today reported an FY18A PBTA result which is a 14% beat to expectations; and while the rating could be seen as high in the context of Support Services, the valuation should be seen in the light of similar franchise businesses and technology-led companies, reinforced by strong structural growth characteristics (see below). Strong results disclosed this morning show FY sales growing 44%, demonstrating growing momentum and ahead of the already strong Q1-3. No one-off, this continues an accelerating and compounding trend over the past three years, which we expect to be maintained. Insurance channel sales have nearly doubled and this momentum notably shows every sign of carrying on, opening up a very large US market in which WATR remains the only national player. The differentiated model – advanced technology integrated into multiple and efficient delivery channels – offers meaningful opportunities, while selective franchisee reacquisitions are also adding to the growth momentum and optimising the group’s capital structure. Positive update highlights value This morning’s update highlights the strength of revenue growth in FY2018E, at 44% overall, showing that the momentum continued to accelerate in Q4 after the business posted 40% YoY revenue growth in Qs1-3. Net cash was an upside surprise at $US2.5m (vs. $US0.2m expectation). The shares remain well below their recent highs of 450p and share price targets in the market of 425p previously were based on forecasts prior to this morning’s upgrades. Corporate stores grew 72% YoY This morning’s update shows Q4 corporate store (self-delivered) growth accelerating from already strong H1 levels (+47%). While abetted by reacquisitions, this level of growth also demonstrates the internal momentum in the business. Revenue and profit opportunities Growth is both organic (underlying), as the new insurance channels deliver, and proactive, with WATR driving profits on the back of selective acquisitions of its franchisees, while still increasing royalty income. With a massive market to penetrate, as a national organisation, WATR is able to cross-sell effectively. Fundamentals are strong, with US insurers paying out $US13bn for leaks in ’17, while WATR’s royalty stream is effectively perpetual. We expect 24% earnings growth in the coming year before further reacquisitions. Unique and successful model provides distribution platform WATR operates a successful model bringing together diagnostic technology and service delivery while operating alongside stores where it is its own provider (“corporate221; stores) and a >100 franchise national US network. Valuation / upside We expect today’s good update to be followed by further encouragement when WATR reports FY2018E in detail; we expect strong proactive and reactive growth and hence share price upside. We expect continued reacquisition news, as well as further commercial partnerships, giving upside to forecasts. In addition we note the strong perpetual royalty stream which underpins a SOTP / DCF-based, fair value estimate of approximately 475p, approximately 50% upside on the current price.
someuwin: WH Ireland update... Water Intelligence (WATR) – Corporate – Franchise reacquisition keeps up pace; growth driver remains powerful Market Cap £44.2m Share Price 310p We note the announcement this morning from WATR that it has reacquired its South Atlanta franchise for $425k. This is another in a stream of positive reacquisitions, including Ontario last month (which reaches to New York), and the major Portland and Louisville franchises ($US1m-plus revenues p.a. each) during the course of last year, among others. South Atlanta represents a further strategic move for WATR, given its geography and, having generated revenues of $US320k during 2018, is well placed to support the drive for further strong sales growth by the business going forward. Note that these franchise acquisitions are selective, and WATR is familiar with these assets by definition. On that score, the most recent, Q3, update from the company in December 2018 showed that the business grew in the first three quarters by as much as 40% while also doubling insurance channel sales (major market opportunity in the US). This morning’s announcement specifies Tuesday 12th March as the expected date for its next update, which we anticipate will further build the picture of strong and sustainable growth. This morning’s update also highlights new technologies which will further strengthen its appeal. As a national player, it is able to apply its technologies consistently across the market, a significant advantage. With the shares trading at the lower end of the recent range, we see decent upside for the shares.
someuwin: WH Ireland "WATR’s Q3 December update highlighted overall revenue growth in the first three quarters of as much as 40% together with a doubling of insurance channel sales as the business penetrates further the sizeable US market. Combining consistent royalties and a technology profile, WATR has a highly differentiated business model as the owner / developer of leak detection technology operated by itself and franchisees across the US, where it is the only national player. It has been selectively buying in franchisees for a good price, which has enhanced the company’s growth trajectory; and we expect this to continue. Underlying growth is fed by insurance and other national channels. In Qs 1-3, the franchise business also grew organically, despite reacquisitions. A dollar earner, the business is underpinned by strong fundamentals and the fall in the share price flies in the face of trading momentum, consistent delivery and a history of exceeding expectations. We expect this to correct on the back of expected strong newsflow and potential forecast upside."
masurenguy: Paul Scott's opinion: The share price already factors in a lot of good news - the PER is very high, at 33.6 times 2019 forecast earnings. That leaves no room for disappointment. Investors clearly like, and believe, the growth story. A PE rating in the 30s is getting into territory where investors are pricing in above expectations earnings growth. It would be good to find out more about the new sewer product. If that has potential to become a major, highly profitable product, then the current PER looking high doesn't matter. Going back to my point in the intro, here's a chart which dropped in the broad market sell-off, but should not have done so. Well done to holders who ignored the market's background noise! How about this for a rebound; 5c594d26a2ecfWATR_chart.PNG This is a great example of how, in small, illquid shares, the chart can at times become completely detached from fundamental reality. Only traders dealing in the tiniest quantities, would have been able to sell, and buy back at the right times - and only then if they were lucky with regard to timing. Plus 2 lots of the wide bid:offer spread would make it hardly worthwhile. This is why, if I'm absolutely certain about a company being a long-term winner, then I tend to just ignore the market price gyrations, and suffer the pain of any drawdowns.
silverfern: The February edition of Momentum Investor has a very strong write up for WATR. I was sent the edition as flyer to get me to subscribe, a few days no doubt after paying subscribers. So hello to all new holders- you've pushed the share price up and bought into a great company!
masurenguy: This share price is very volatile - todays 8.5% rise is on a miniscule volume of circa 21,000 shares !
masurenguy: Graham Neary likes Water Intelligence! "This US-based leak detection business is another example of a High Flyer (aren't these categorisations very useful?) For the uninitiated, that means high quality and high momentum, but little value, at least as value is traditionally understood. Paul last covered it with the share price at 200p, in February. So congratulations to anyone who has earned a 100% return so quickly, by holding it since then. Some of you have probably been holding it for a lot longer than that, and have a much bigger return! The first time I wrote about this share, in 2016, it was priced at 70p. Ok, let's see how things are going according to the latest update. Trading is comfortably in line with expectations, a phrase which can be interpreted to mean that we have a good chance to see an earnings beat later in the year. The top line and bottom line are both mentioned in this regard, so we have the perfect combo of strong sales and strong margins. We are on track to meet the goals set forth in the Chairman's Statement for the 2017 Annual Report released earlier this year: passing $20m in annual sales during 2018 and passing $25m in annualized sales in the near-term. The capital base grew in March with an equity fundraising - when we have more detailed numbers for 2018, I will do my usual checks for the returns generated on this increased base. I expect they will come back very positive. Excitingly, the company cites "strong worldwide demand" for its products, and expresses the wish to go international with a "scalable business model". Its international business is active in the UK, Australia, Ireland and Romania. If the strategy succeeds, I am confident that Water Intelligence will prove to be worth a lot more than its current market cap, despite the high rating. H1 PBT is up almost 50% year-on-year, to $1.25m. So it's understandable that the share price has gone on a tear. Holders don't have any reason to cash in their chips, with a company performing so well and looks to have so much potential. I think the very high rating is probably justified."
effortless cool: Just checked on investigate, and it's a non-regulatory RNS, hence not considered financially significant. The share price rise is very welcome, however!
mysteronz: Paul Scott on recent trading update Water Intelligence (LON:WATR) Share price: 123.5p (up 14.4% today) No. shares: 12.0m Market cap: £14.8m Trading update & acquisition - this is an unusual little company, mainly based in the USA (but with small UK operations too). It detects & fixes water leaks, e.g. for swimming pools. The business model is partly franchised, partly company operated branches. I quite like the update today. Overall it's just an in line update. However, growth has been strong, with the company reinvesting the proceeds into more marketing & other overheads. I'd rather see growth, and the proceeds reinvested, than no growth at all; ...Profits before tax remain in line with expectations, reflecting the Company's choice to fuel further growth through reinvestment in both additional staff and marketing efforts in order to capitalise on the market opportunity in its geographies: United States, United Kingdom, Canada and Australia. A lot more detail is given. The company has reacquired a couple of franchisees, which should boost the reported profits. My opinion - I vaguely recall trying to buy some shares in this micro cap company a while back, when my friend Edward Roskill mentioned it positively, in an interview I recorded with him. However, the share was so illiquid, that I couldn't get any stock at all, so gave up on it. Pity, as the share price has almost tripled since then. Generally, I try to avoid the smallest & most illiquid stocks these days, as I can't buy or sell in the size I need to make it worthwhile. Also, if anything goes wrong, or if you need cash in a hurry, then this type of thing can be a nightmare (or impossible) to exit. That said, the company seems to be trading well, and growing. So it could be worth a look, if you're prepared to swallow the risk of possibly being stuck high & dry in the share.
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