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Mitek Systems, Inc.

MITK Technology Software Application

Mitek Systems, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $179.7 million, up 4.42% from fiscal 2024. In the quarter to June 2026, revenue grew 18.2%, EPS grew 280.0% and free cash flow grew 19.2%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.

16.11 0.77 −4.56%
Market cap
$761.7M
P/E
32.2×
Fwd P/E
36.0×
Dividend yield
—
F-score
6/9
Altman Z
1.76
Beneish M
−2.86
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 3.50
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — 1 1 1 — — — — —
Insider Ownership 5.52%

Capital & Financial Ratios $m

Market Cap 761.66
Revenue 197.90
Net Income 22.54
Free Cash Flow 48.61
Net Debt (50.34)
Current Ratio 2.74 (at or above 1.5: strong)
Debt/Equity 0.20 (at or below 0.5: strong)
P/E ratio 32.22
Fwd P/E 36.00 (above 35: high)
P/S ratio 3.68
P/B ratio 2.91
Past 5Y EPS Growth 1.09%
This Y EPS Growth 21.68% (at or above 15%: strong)
Next Y EPS Growth 2.08%
Next Y revenue growth 9.97%
Next 5Y EPS Growth 14.35%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.4×, against a ten-year median of 4.2×; over the ten years it ranged from 2.0× in 2025 to 8.5× in 2016.
P/E against its own 10 years 10.67%
10-year low 10-year high
P/S against its own 10 years 38.59%
10-year low 10-year high
P/B against its own 10 years 39.70%
10-year low 10-year high
EV/Sales against its own 10 years 30.26%
10-year low 10-year high
EV/FCF against its own 10 years 13.05%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2017 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 134 130 193 100
Receivables 32 32 37 52
Inventory — — — —
Other 21 19 16 12
190 185 248 168
2023 2024 2025 Q'26
Payables 8 7 4 4
ST’ Debt — — — 3
Other 9 2 6 1
51 42 209 61

Compound Annual Growth %

10y 5y 3y
Sales 21.63% 12.14% 7.46%
Cash Flow 24.66% 18.07% 37.87%
Earnings 13.29% 2.40% 33.54%
Book Value 22.95% 12.68% 12.01%

Revenue $m

Dec Mar Jun Sep Year
’26 44 55 54 — —
’25 37 52 46 45 180
’24 37 47 45 43 172
’23 46 46 43 38 173
’22 32 34 39 40 145
’21 26 29 32 33 120
’20 22 23 25 31 101
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 8 (1) 27 — —
’25 1 14 22 19 55
’24 (9) 7 13 21 32
’23 5 6 17 3 32
’22 2 7 6 5 21
’21 9 7 9 12 37
’20 5 3 9 7 24
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 7 (2) 25 — —
’25 0 14 21 19 54
’24 (10) 7 13 21 30
’23 5 6 16 3 31
’22 2 7 6 5 20
’21 8 7 9 12 36
’20 5 3 9 6 23
Fiscal quarters ending in the months shown.

EPS $

Dec Mar Jun Sep Year
’26 0.06 0.20 0.17 — —
’25 (0.10) 0.20 0.05 0.04 0.19
’24 (0.13) 0.01 0.00 0.18 0.07
’23 0.10 0.10 (0.01) (0.03) 0.17
’22 0.07 0.01 0.00 0.01 0.07
’21 0.05 0.02 0.07 0.05 0.19
’20 0.01 0.02 0.03 0.12 0.18
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 3.95 5.50 6.32 6.96 5.26 13.52 8.32 8.60 7.35 6.93

Analyst estimates 2026–2028

Powerpack
High 9.49 10.75 10.93 13.07 19.88 23.29 17.85 13.98 16.24 11.39
People
People Employees 117 141 308 284 360 448 588 590 630 595
Revenue/emp, $m 0.30 0.32 0.21 0.30 0.28 0.27 0.25 0.29 0.27 0.30
Income, $m
Income, $m Revenue 35 45 64 85 101 120 145 173 172 180
Gross margin, % 90.22 91.10 86.33 85.50 86.98 87.86 86.18 86.70 85.82 85.09
EBT 2 3 (9) (4) 9 9 4 10 (1) 12
EBT margin, % 5.64 6.99 (13.75) (4.71) 9.29 7.35 2.49 5.99 (0.53) 6.46
Net income 2 14 (12) (1) 8 8 4 8 3 9
Depreciation 3 3 5 8 8 15 25 27 24 25
Per share, $
Per share, $ Revenue 1.10 1.37 1.77 2.15 2.45 2.75 3.25 3.79 3.70 3.93
Earnings 0.06 0.43 (0.33) (0.02) 0.19 0.19 0.07 0.18 0.07 0.19
Cash flow 0.25 0.32 0.16 0.36 0.58 0.86 0.47 0.69 0.68 1.21
Capex (0.01) (0.01) (0.12) (0.03) (0.02) (0.03) (0.03) (0.02) (0.03) (0.03)
Free cash flow 0.24 0.30 0.04 0.34 0.56 0.83 0.45 0.67 0.65 1.19
Book value 1.25 1.86 2.66 2.73 3.19 4.43 3.83 4.51 4.61 5.26
Shares, m 32 33 36 39 41 44 45 46 47 46
Valuation, ×
Valuation, × P/E 138.17 23.10 0.00 0.00 69.31 97.37 110.23 62.12 122.80 51.42
P/S 7.55 7.07 3.80 4.49 5.21 6.72 2.82 2.79 2.35 2.49
P/B 6.63 5.23 2.53 3.54 3.99 4.17 2.39 2.34 1.88 1.86
EV/Sales 6.57 6.13 3.53 4.09 4.69 6.65 3.10 2.81 2.44 2.23
EV/FCF 29.98 27.95 170.01 26.27 20.39 22.16 22.43 15.87 13.86 7.41
Cash, $m
Cash, $m Operating cash flow 8 10 6 14 24 37 21 32 32 55
Capex 0 0 (4) (1) (1) (1) (1) (1) (1) (1)
Free cash flow 8 10 1 13 23 36 20 31 30 54
Balance, $m
Balance, $m Working capital 32 41 17 34 60 165 89 139 143 39
Total debt — — 1 0 6 169 128 136 144 —
Net debt (34) (43) (17) (33) (54) (10) 38 2 13 (193)
Shareholders’ equity 39 61 95 107 132 193 171 205 215 240
Returns, %
Returns, % ROA 4.50 23.47 (11.87) (0.55) 5.12 2.71 0.94 2.09 0.80 2.02
ROIC 20.31 9.19 (6.22) (3.85) 7.09 4.54 3.65 4.70 0.61 22.21
ROE 5.60 27.93 (15.06) (0.71) 6.52 4.91 2.03 4.27 1.56 3.87
Negative figures in brackets.

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Charts ten years each

Mitek Systems, Inc. vs peers in Software Application (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
PUBM PubMatic, Inc. $812.2M — (loss-making) — (loss-making) +10.55% (above 0%: growing) n/m +47.47% (above 0%: growing) 67.07% 0.74% Compare
MNTN MNTN Inc. $784.7M 13.2× 10.3× +20.56% (above 0%: growing) n/m +87.71% (above 0%: growing) 80.32% 8.62% Compare
SMWB Similarweb Ltd. $770.0M — (loss-making) — (loss-making) +8.76% (above 0%: growing) n/m +217.42% (above 0%: growing) 80.73% 0.96% Compare
MITK Mitek Systems, Inc. $761.7M 32.2× 36.0× +18.17% (above 0%: growing) +280.00% (above 0%: growing) +19.18% (above 0%: growing) 84.86% 21.36%
YALA Truth Social God Bless America ETF $719.4M 6.2× 6.7× −2.31% (below 0%: shrinking) −12.50% (below 0%: shrinking) +9,191.70% (above 0%: growing) 67.55% 23.49% Compare
PAR PAR Technology Corporation $717.6M — (loss-making) — (loss-making) +18.69% (above 0%: growing) n/m +142.91% (above 0%: growing) 42.41% (9.67%) Compare
VTEX VTEX $714.8M 24.6× 19.5× +9.52% (above 0%: growing) +200.00% (above 0%: growing) +79.12% (above 0%: growing) 80.31% 15.00% Compare
DCBO Docebo Inc. $701.6M 23.6× 17.2× +13.04% (above 0%: growing) −10.00% (below 0%: shrinking) −154.48% (below 0%: shrinking) 79.44% 3.76% Compare
SPT Sprout Social, Inc. $701.5M — (loss-making) — (loss-making) +10.80% (above 0%: growing) n/m +87.64% (above 0%: growing) 77.59% (2.16%) Compare
Median of peers $718.5M 18.4× 13.8× +10.68% −10.00% +87.67% 78.52% 2.36%

All 237 Software Application stocks →

Mitek Systems, Inc. (MITK) key facts

  • Strength: Mitek Systems, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $179.7 million, up 4.42% from fiscal 2024.
  • Mitek Systems, Inc. (MITK) is a Software Application company in the Technology sector, listed on Nasdaq.
  • As of October 16, 2026, MITK traded at $16.11, a market capitalization of $761.7 million.
  • Return on equity was 3.87% and debt-to-equity 0.20.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 1.76 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Mitek Systems, Inc. (MITK) Latest News

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stockrow.com/MITK · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com