Where MNDO sits among all investable US stocks
Cheapness against five-year return on assets, as percentiles. Upper left is cheaper with higher returns; larger dark dots are its industry (General Telecommunications Services).
MNDO is a cheap, net-cash billing software firm whose gap Enghouse's $1.30 cash bid would close, pending shareholder approval.
MIND CTI sells billing and customer-care software to telecom operators, and its shares fell 60.7% over five years against a 39.8% drop for its peer and gains for the sector and S&P 500. Revenue is shrinking, a major customer is leaving, and Q3 brought a net loss. On Tuesday, November 10, 2026, the shares jumped 44.8% on Enghouse's $1.30 cash offer. Is this a bargain or a trap? The numbers show a cheap, cash-rich, high-return business, and the bid is the catalyst.
The last five years on the numbers
Where MNDO has ranked among investable US stocks each quarter since 2021. Hollow dot: five years ago; solid dot: the latest quarter. The share price over the same years is in the five-year record below.
Cheap and high quality, even after the jump lifted the multiple
4.3× EV to operating income (0th percentile; industry median 51st, sector 36th) with return on assets in the 95th percentile. Earnings yield 23.1% vs 5.0% Treasury; FCF yield 12.8% (95th); net cash $13M. Was 1.7× before.
Against the market, its industry and sector
MNDO as a percentile of all 3,189 investable US stocks, against the 26 in General Telecommunications Services and the 35 in the Telecommunications sector.
| Metric | MNDO | Position | In its industry | Industry median | Sector median |
|---|---|---|---|---|---|
| Acquirer's Multiple | 0th | The cheapest of 27 | 51st | 36th | |
| Free cash flow yield | 95th | #2 of 27 | 29th | 43rd | |
| Shareholder yield | 68th | #9 of 27 | 38th | 51st | |
| Dividend yield | 26th | #9 of 27 | 26th | 26th | |
| Return on assets, 5-yr avg | 95th | The highest of 27 | 36th | 41st | |
| Debt to book equity | 13th | #4 of 27 | 78th | 76th | |
| Market cap | 0th | #27 of 27 | 50th | 55th |
Percentiles of the number itself. For the Acquirer's Multiple and debt to equity, lower is better: the 5th percentile on the multiple is cheaper than 95% of investable US stocks. Green is the better end, red the worse. Orange dot: MNDO; bar: industry median; diamond: sector median. MNDO is outside the investable set (for example a foreign ADR), so it is placed against investable US stocks. Data as of 2026-11-07.
Price v Return
What the shares and assets earn, against the 10-year Treasury.
Its industry against its own history
General Telecommunications Services report →Industry Acquirer's Multiple: 65th percentile, cheaper than in 32% of quarters. Return on assets: 35th percentile, usual range. Free cash flow yield: 58th percentile, higher than in 79% of quarters. MNDO stands out against its industry.
| Metric | Percentile now | Usual range | Against its history | Last 10 years |
|---|---|---|---|---|
| Acquirer's Multiple | 65th | 42nd–72nd | Usual range | |
| Free cash flow yield | 58th | 27th–63rd | Higher than usual | |
| Shareholder yield | 37th | 35th–61st | Lower than usual | |
| Dividend yield | 26th | 24th–30th | Usual range | |
| Return on assets, 5-yr | 35th | 22nd–53rd | Usual range | |
| Debt to equity | 74th | 62nd–78th | More debt than usual | |
| Company size | 51st | 40th–64th | Usual range |
The industry's median stock as a percentile of all investable US stocks on each number. For the Acquirer's Multiple and debt to equity, lower is better: the 10th percentile is cheaper than 90% of the market. For yields, returns and size, higher is bigger. Usual range covers the middle 80% of quarters since 1999; it's the shaded band in each chart. Each chart is zoomed to its own range (the numbers on the left): green shading marks the metric's better side and red its worse side, the dashed line is the 50th percentile, and the dot is today, coloured by where it sits.
A signed cash bid from Enghouse is the live catalyst.
Enghouse offers $1.30 per share, a 42% premium to the $0.92 30-day average; both boards approved. Go-shop runs to December 10, 2026 with a $1.0 million break fee. Close expected Q1 2027.
Catalyst check
Likelihood of a catalyst: HighA signed $1.30 cash deal with both boards' approval is live; completion still needs shareholder approval, and a go-shop runs to December 10, 2026.
The risks are a failed deal and a shrinking business.
Shareholder approval and closing conditions remain. Founder Iancu's 15.5% is committed to vote yes. A major customer leaves March 2027; Q3 net loss $2.886M. Operating income down 20% at today's multiple: $1.13 (illustrative).
Value-trap check
Grades miss that revenue is shrinking and a major customer leaves in March 2027, so trailing earnings may overstate what lasts.
The shares fell with weak billing peers, and MIND's own decline added.
From 2022-01-21, shares fell 58.7% against peers −37.6%, sector +56.4%, market +83.1%. Revenue fell, no new customers in 2024 or 2025, markets shrinking. Multiple percentile moved from 9th to 0th.
Five years of moves
MNDO −60.7% since 2021-11-01, against the median of DOX −39.8%, Communication Services (XLC) +40.7% and the S&P 500 (SPY) +74.9%. Numbered dots mark inflections (peaks and troughs); shaded bands mark divergences from the sector or market.
What drove each turning point
| # | Turning point | MNDO | Peers | Sector | S&P 500 | Driver |
|---|---|---|---|---|---|---|
| 1 | Divergence vs market · 2022-01-21 → 2026-11-09 | −58.7% | −37.6% | +56.4% | +83.1% | Sector |
| Shrinking billing markets and strong competition hit revenue; peers fell 37.6% while the sector rose 56.4%, so the drag was sector-specific plus MIND's own decline. wiseek.ai (237 days ago); SEC filing | ||||||
Prices: daily closes. Peers chosen by the AI analyst as the closest US-listed businesses. Moves are over each window: for a peak or trough, the move that followed it. Driver is Company, Sector or Market; see Definitions below.
Every report on MNDO
Each AI analyst report as it was published, with the share price that day and the move since (today $1.26). Past performance is not a guide to the future.
| Report | Price then | Since | What it said |
|---|---|---|---|
| Nov 10, 2026Latest | $1.26 | +0.0% | Enghouse bids $1.30 cash for MNDO, a net-cash telecom software stock · Catalyst: High |
| Nov 5, 2026 | $0.90 | ▲ +40.0% | Buyback runs at a net-cash telecom software firm priced at 1.7× operating income · Catalyst: Moderate |
Liked this? Get a free story every week
Each week we email the free AI analyst stories, the cheapest stocks on the screens, and the podcast. Today the analyst wrote 16 more stories like this one, for members.
Definitions
- Acquirer's Multiple®
- Enterprise value ÷ operating income (trailing 12 months). What an acquirer would pay for the whole business against what it earns before interest and tax. Lower is cheaper.
- Enterprise value
- Market cap at today's price, plus debt, preferred stock and minority interests, less cash.
- Operating income
- Trailing 12 months, after depreciation and amortization.
- Operating earnings yield
- Operating income ÷ enterprise value: the Acquirer's Multiple turned upside down.
- Free cash flow yield
- Trailing 12-month free cash flow (cash from operations less capital spending) ÷ market cap.
- Shareholder yield
- Trailing 12-month dividends plus net buybacks (shares bought back less shares issued) ÷ market cap. Dividend yield and buyback yield are its two parts.
- Return on assets
- Trailing 12-month operating income ÷ total assets at the latest quarter.
- Net debt : market cap
- Debt less cash, as a share of market cap. Negative means net cash.
- E(r)
- Expected annual return if the Acquirer's Multiple doesn't change. It has three parts: return on assets (what the business earns on what it owns); incremental growth (return on assets × the reinvestment rate, where the reinvestment rate is five-year average capital spending ÷ five-year average total assets: what reinvested capital adds); and shareholder yield (what is paid out through dividends and buybacks). E(r) = return on assets × (1 + reinvestment rate) + shareholder yield.
- 10-year Treasury
- The latest monthly 10-year US Treasury yield, the risk-free rate the yields are compared with.
- Percentiles
- Where the stock sits among investable US stocks (price above $3, market cap above $75M, average daily trading above $850,000, no ADRs or MLPs), updated each week. Each is the percentile of the number itself: for the Acquirer's Multiple (here EBIT ÷ enterprise value) and debt (total debt ÷ book equity), lower is better; for yields, five-year average return on assets and market cap, higher is bigger. Stocks outside the investable set, such as ADRs, are placed against it.
- Industry and sector
- FactSet RBICS industry. Industry and sector medians are the middle investable stock's percentile. Industry history is that median each quarter since 1999; the usual range is the middle 80% of quarters.
- Turning points
- Inflection points are the peaks and troughs where the stock's trend reversed by about 25% or more on weekly closes; each is compared over the move that followed. Divergences are stretches where the stock pulled away from its sector fund or the S&P 500 by about 20% or more. Each is set against its peers' median, its sector fund and the S&P 500 over the same window. Driver: Market if the market moved with it (same way, at least half as far) and so did its peers or sector; Sector if only its peers or sector did; Company otherwise.
- Value-trap grades
- Return on assets: Strong at 10% or more, Mixed at 5% or more. Net debt : market cap: Strong at 30% or less, Mixed at 100% or less. Free cash flow yield: Strong at 10% or more, Mixed at 5% or more. Shareholder yield: Strong at 8% or more, Mixed at 3% or more.