SMX (Security Matters) Public Limited Company (SMX) 10-Year Financial Performance & Capital Metrics

SMX • • Industrial / General

IndustrialsBusiness ServicesProfessional & Technical ServicesTechnical Inspection & Engineering

AboutSMX (Security Matters) Public Limited Company provides brand protection, authentication and track and trace technology for the anti-counterfeit market. Its proprietary marker system embeds a permanent or removable mark on solid, liquid, or gaseous objects or materials. The company's solutions comprise physical or chemical marker system coupled with a reader and connected to a blockchain digital platform for application in process tracing, authentication, and sustainability and circular economics industries. It serves brand owners, manufacturers, and suppliers. The company was formerly known as Empatan Public Limited Company and changed its name to SMX (Security Matters) Public Limited Company in February 2023. SMX (Security Matters) Public Limited Company is based in Dublin, Ireland.Show more

Revenue $0
EBITDA -$15M +26.4%
Net Income -$31M -48.7%
EPS (Diluted) -77608.00 +92.2%
Gross Margin -
EBITDA Margin -
Operating Margin -
Net Margin -
ROE -113.82% +6.4%
ROIC -40.49% +42.7%
Debt/Equity 0.27 +111.0%
Interest Coverage -1.24 +50.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 81 (top 19%)
✓Trading at only 0.0x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Low quality earnings: Net income not backed by cash flow
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-

EPS CAGR

10Y-

5Y-

3Y-

TTM-

ROCE

10Y Avg-60.04%

5Y Avg-60.04%

3Y Avg-77.05%

Latest-60.07%

Peer Comparison

Technical Inspection & Engineering

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
OMEXOdyssey Marine Exploration, Inc.	122.62M	2.20	33.03	-4.37%	-65.68%		0.46%
YSXTYSX Tech. Co., Ltd	31.16M	1.40	7.78	22.04%	5.63%	17.39%		0.22
SMXSMX (Security Matters) Public Limited Company	241.82M	24.35	-0.00			-2.97%		0.27
TISITeam, Inc.	64.83M	14.32	-1.66	-1.2%	-5.95%	-164.46%	20.52%	212.04
SPIRSpire Global, Inc.	361.79M	10.93	-2.57	13.15%	39.52%	22.97%
TICTIC Solutions, Inc.	2.47B	11.18	-86	4.51%	-11.04%	-15.8%		0.71

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	13K	0	0	0	0
Revenue Growth %	-	-1%	-	-	-
Cost of Goods Sold+	10K	0	0	227K	2.27M
COGS % of Revenue	0.77%	-	-	-	-
Gross Profit+	3K	0	0	-227K	-2.27M
Gross Margin %	0.23%	-	-	-	-
Gross Profit Growth %	-	-1%	-	-	-9.01%
Operating Expenses+	4.56M	344.62K	5.19M	19.71M	14.51M
OpEx % of Revenue	351%	-	-	-	-
Selling, General & Admin	2.74M	2.79M	3.11M	17.2M	13.69M
SG&A % of Revenue	210.62%	-	-	-	-
Research & Development	1.69M	2.04M	1.9M	2.51M	2.89M
R&D % of Revenue	129.92%	-	-	-	-
Other Operating Expenses	136K	-4.49M	180K	0	-2.07M
Operating Income+	-4.56M	-344.62K	-5.19M	-19.94M	-16.78M
Operating Margin %	-350.77%	-	-	-	-
Operating Income Growth %	-	0.92%	-14.06%	-2.84%	0.16%
EBITDA+	-4.34M	-29.62K	-4.9M	-19.71M	-14.51M
EBITDA Margin %	-333.92%	-	-	-	-
EBITDA Growth %	-	0.99%	-164.44%	-3.02%	0.26%
D&A (Non-Cash Add-back)	219K	315K	290K	227K	2.27M
EBIT	-4.49M	-343.03K	-3.96M	-13M	-21.91M
Net Interest Income+	-12K	136K	-1.1M	-6.31M	-7.54M
Interest Income	67K	237K	28K	1.58M	5.96M
Interest Expense	79K	101K	1.13M	7.89M	13.49M
Other Income/Expense	-13K	1.59K	-994K	-1.05M	-18.62M
Pretax Income+	-4.57M	-343.03K	-6.18M	-20.99M	-35.4M
Pretax Margin %	-351.77%	-	-	-	-
Income Tax+	0	0	0	0	0
Effective Tax Rate %	1%	14.4%	1%	1%	0.88%
Net Income+	-4.57M	-4.94M	-6.18M	-20.91M	-31.09M
Net Margin %	-351.77%	-	-	-	-
Net Income Growth %	-	-0.08%	-0.25%	-2.38%	-0.49%
Net Income (Continuing)	-4.57M	-343.03K	-6.18M	-20.99M	-35.4M
Discontinued Operations	0	0	0	0	0
Minority Interest	0	0	0	20.77M	15.98M
EPS (Diluted)+	-4.47	-314958.00	0.00	-999999.00	-77608.00
EPS Growth %	-	-70459.4%	1%	-	0.94%
EPS (Basic)	-4.47	-314958.00	0.00	-999999.00	-77608.00
Diluted Shares Outstanding	1.02M	0	0	15	401
Basic Shares Outstanding	1.02M	0	0	15	401
Dividend Payout Ratio	-	-	-	-	-

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	4.79M	5.09M	5.07M	802K	4.34M
Cash & Short-Term Investments	4.34M	4.17M	1.4M	168K	2.34M
Cash Only	4.34M	4.17M	1.4M	168K	2.34M
Short-Term Investments	0	0	0	0	0
Accounts Receivable	417K	396K	444K	405K	1.89M
Days Sales Outstanding	11.71K	-	-	-	-
Inventory	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-
Other Current Assets	0	70K	72K	87K	0
Total Non-Current Assets+	3.68M	5.25M	6.22M	50.36M	39.19M
Property, Plant & Equipment	1.1M	1.19M	969K	800K	616K
Fixed Asset Turnover	0.01x	-	-	-	-
Goodwill	0	0	0	32.96M	26.14M
Intangible Assets	2.33M	3.91M	5.03M	16.49M	12.33M
Long-Term Investments	248K	147K	221K	115K	105K
Other Non-Current Assets	0	0	0	0	0
Total Assets+	8.46M	10.34M	11.29M	51.16M	43.53M
Asset Turnover	0.00x	-	-	-	-
Asset Growth %	-	0.22%	0.09%	3.53%	-0.15%
Total Current Liabilities+	1.41M	1.9M	4.92M	18.02M	20.8M
Accounts Payable	515K	916K	2.97M	10.52M	9.43M
Days Payables Outstanding	18.8K	-	-	16.91K	1.51K
Short-Term Debt	280K	270K	1.27M	3.14M	5.55M
Deferred Revenue (Current)	20K	30K	50K	153K	177K
Other Current Liabilities	350K	532K	392K	2.57M	2.39M
Current Ratio	3.40x	2.69x	1.03x	0.04x	0.21x
Quick Ratio	3.40x	2.69x	1.03x	0.04x	0.21x
Cash Conversion Cycle	-	-	-	-	-
Total Non-Current Liabilities+	616K	551K	4.21M	894K	337K
Long-Term Debt	0	0	3.68M	483K	0
Capital Lease Obligations	531K	466K	440K	411K	337K
Deferred Tax Liabilities	0	0	0	0	0
Other Non-Current Liabilities	85K	85K	85K	0	0
Total Liabilities	2.02M	2.45M	9.13M	18.92M	21.14M
Total Debt+	869K	773K	5.42M	4.08M	5.97M
Net Debt	-3.47M	-3.4M	4.03M	3.91M	3.63M
Debt / Equity	0.13x	0.10x	2.52x	0.13x	0.27x
Debt / EBITDA	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-
Interest Coverage	-57.72x	-3.41x	-4.60x	-2.53x	-1.24x
Total Equity+	6.44M	7.89M	2.16M	32.24M	22.39M
Equity Growth %	-	0.23%	-0.73%	13.96%	-0.31%
Book Value per Share	6.30	-	-	999999.00	55892.45
Total Shareholders' Equity	6.44M	7.89M	2.16M	11.48M	6.41M
Common Stock	21.88M	353	32.71M	62.9M	89.98M
Retained Earnings	-18.9M	-23.84M	-30.02M	-50.93M	-82.03M
Treasury Stock	0	0	0	0	0
Accumulated OCI	605K	223K	-537K	-491K	-1.54M
Minority Interest	0	0	0	20.77M	15.98M

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-3.52M	-3.91M	-5.22M	-12.48M	-11.31M
Operating CF Margin %	-270.38%	-	-	-	-
Operating CF Growth %	-	-0.11%	-0.34%	-1.39%	0.09%
Net Income	-4.57M	-4.94M	-6.18M	-20.91M	-35.4M
Depreciation & Amortization	219K	315K	290K	225K	2.27M
Stock-Based Compensation	483K	484K	306K	3.27M	3.66M
Deferred Taxes	1K	0	0	0	0
Other Non-Cash Items	65K	237K	953K	145K	19.04M
Working Capital Changes	290K	-5K	-588K	4.8M	-879K
Change in Receivables	-162K	-463K	0	0	0
Change in Inventory	0	0	0	0	0
Change in Payables	323K	401K	2.22M	2.07M	-2.78M
Cash from Investing+	-958K	-1.76M	-1.13M	-1.04M	-190K
Capital Expenditures	-235K	-297K	-152K	-60K	-21K
CapEx % of Revenue	18.08%	-	-	-	-
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	-723K	-1.47M	-975K	-976K	-169K
Cash from Financing+	6.7M	6.12M	3.85M	11.95M	13.11M
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	0	0	0	0	0
Share Repurchases	-	-	-	-	-
Other Financing	0	395K	0	3.23M	-423K
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	-4.47M	-5.67M	-6.35M	-13.52M	-11.5M
FCF Margin %	-344.08%	-	-	-	-
FCF Growth %	-	-0.27%	-0.12%	-1.13%	0.15%
FCF per Share	-4.37	-	-	-887219.12	-28715.02
FCF Conversion (FCF/Net Income)	0.77x	0.79x	0.84x	0.60x	0.36x
Interest Paid	0	0	0	0	0
Taxes Paid	0	0	0	0	0

Key Ratios

Metric	2020	2021	2022	2023	2024
Return on Equity (ROE)	-71%	-68.92%	-123.1%	-121.59%	-113.82%
Return on Invested Capital (ROIC)	-	-6.93%	-72.92%	-70.65%	-40.49%
Gross Margin	23.08%	-	-	-	-
Net Margin	-35176.92%	-	-	-	-
Debt / Equity	0.13x	0.10x	2.52x	0.13x	0.27x
Interest Coverage	-57.72x	-3.41x	-4.60x	-2.53x	-1.24x
FCF Conversion	0.77x	0.79x	0.84x	0.60x	0.36x
Revenue Growth	-	-100%	-	-	-

Frequently Asked Questions

Growth & Financials

SMX (Security Matters) Public Limited Company (SMX) grew revenue by 0.0% over the past year. Growth has been modest.

SMX (Security Matters) Public Limited Company (SMX) reported a net loss of $3.6M for fiscal year 2024.

Dividend & Returns

SMX (Security Matters) Public Limited Company (SMX) has a return on equity (ROE) of -113.8%. Negative ROE indicates the company is unprofitable.

SMX (Security Matters) Public Limited Company (SMX) had negative free cash flow of $1.3M in fiscal year 2024, likely due to heavy capital investments.

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