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MITK

Mitek Systems, Inc.

Technology · $779M market cap

Verdict

Share price

$17.75

close of Oct 3, 2026

Fair value

$13.64

Sticker Price

Payback Price

$5.46

buy price

Overpriced

MITK is Overpriced: at $17.75 it trades 30% above its fair value of $13.64. Its buy price (Payback Price) is $5.46, 69% below today's price. Business quality is solid: 3 of 5 key numbers clear the 10% bar.

How we valued it

Free Cash Flow. Sales grew 7% a year over the last 3 years, below the 15% we look for in a fast grower, so we value it on its free cash flow instead of an earnings forecast.

Business quality

3 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth4.1% a year✗
Equity per share growth18.2% a year✓
Sales growth26.2% a year✓
Free cash flow growth22.5% a year✓
Return on invested capital1.5%✗

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Superinvestors

1 of the investors we track holds MITK. In Q2 2026, 1 added and 1 sold out. Who we track

Polen Capital Management

Polen Capital Management · as of Q2 2026

$715K

35,504 shares

Moves in Q2 2026

Added: Polen Capital Management

Sold out: Lee Ainslie

About Mitek Systems, Inc.

Mitek Systems, Inc. (MITK) specializes in developing and offering mobile image capture and digital identity verification technologies globally, with operations spanning the United States, Europe, Latin America, and other international markets. These offerings are seamlessly integrated into native mobile applications and web browsers, streamlining digital interactions for users. Among its key products, Mitek…

Software - Application

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works