OSPNNasdaqServices-Computer Integrated Systems DesignFiscal year ends December 31
OneSpan Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 4, 2026
$17.63+0.13 (+0.74%)
Close on Oct 19, 2026
- Market cap
- $672.44M
- P/E (TTM)
- 10.0
- Dividend yield
- 0.68%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
73.8%+5.1 pts over 5 years
Operating margin
19.9%+22.4 pts over 5 years
Net margin
30.0%+32.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +0.0% | +3.6% | +2.4% | +0.1% | |
| Gross profit | +2.7% | +6.5% | +3.9% | +2.3% | |
| Operating income | +8.1% | – | – | -0.4% | |
| Net income | +27.7% | – | – | +5.6% | |
| EPS, diluted | +28.8% | – | – | +5.9% | |
| Free cash flow | +8.8% | – | +33.7% | -2.9% | |
| Dividend per share | 0.0% | – | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 4.2% | -2.1% | 30.1% | |
| Return on assets | 3.3% | -1.4% | 19.8% | |
| Current ratio | 3.05 | 2.75 | 1.50 | |
| Inventory turnover | 3.2× | 4.1× | 6.0× | |
| Capex to revenue | 1.1% | 1.4% | 3.7% | |
| Diluted shares | 40M | 40M | 39M |
Where the cash went
Fiscal 2021 to 2025, five years combined
OneSpan generated $134.36M from operations and spent $111.81M on capital expenditure, dividends and share buybacks. 34% of that went back into the business.
Generated
$134.36M
Used
$111.81M
Capital expenditure$37.85M34%Dividends$18.46M17%Share buybacks$55.49M50%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin30.0%
×Asset turnover0.66×
×Equity multiplier1.52×
=Return on equity, FY202530.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 30.0% | 0.66× | 1.52× | 30.1% |
| FY2024 | 23.5% | 0.77× | 1.69× | 30.7% |
| FY2023 | -12.7% | 0.75× | 1.72× | -16.4% |
| FY2022 | -6.6% | 0.65× | 1.60× | -6.8% |
| FY2021 | -14.3% | 0.60× | 1.50× | -12.8% |
| FY2020 | -2.5% | 0.57× | 1.46× | -2.1% |
| FY2019 | 3.1% | 0.69× | 1.43× | 3.1% |
| FY2018 | 1.4% | 0.61× | 1.41× | 1.2% |
| FY2017 | -11.6% | 0.58× | 1.35× | -9.1% |
| FY2016 | 5.5% | 0.60× | 1.28× | 4.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$72.90M
- Cash generatingOperating cash flow above zero$59.45M
- Return on assets improvedROA up on the prior year19.7% → 21.5%
- Earnings backed by cashOperating cash flow above net income$59.45M vs $72.90M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.59 → 1.50
- No dilutionShare count did not rise39M → 39M
- Gross margin improvedGross margin up on the prior year71.79% → 73.75%
- More efficientAsset turnover rose0.84 → 0.72