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MYCR: Expanding Asian Orders Will Support Steady Earnings And Balanced Prospects

Upcoming Orders and Expansion Will Drive Global Technology Reach Forward

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MYCR
AnalystConsensusTarget
Not Invested
Published 24 Dec 2024

Update shared on 13 Dec 2025

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Analysts have nudged their price target for Mycronic slightly higher to approximately SEK 219 per share, reflecting modestly increased discount rate and future P E assumptions, while maintaining a generally stable view on long term revenue growth and profitability.

What's in the News

  • Mycronic secured a new Asian customer for its SLX semiconductor mask writer, an energy efficient system with an order value between USD 5 million and 7 million, with revenue recognized in the current quarter (company announcement).
  • The company reaffirmed its 2025 sales guidance, maintaining the board’s view that net sales will reach approximately SEK 7.5 billion (corporate guidance).
  • An existing Asian customer placed an additional SLX mask writer order worth USD 5 million to 7 million, scheduled for delivery in the second quarter of 2026 to support rising photomask demand (company announcement).
  • Mycronic received a separate SLX mask writer order from an existing Asian customer valued at USD 3 million to 5 million, with net sales to be recognized in the current quarter (company announcement).
  • An existing Asian customer ordered three high value display mask writers: one Prexision 8 Evo and two Prexision Lite 8 Evo systems, totaling an estimated USD 48 million to 52 million, with deliveries spread from the second quarter of 2026 to the first quarter of 2027 (company announcement).

Valuation Changes

  • Fair Value Estimate: Unchanged at approximately SEK 219 per share, indicating a stable assessment of Mycronic’s intrinsic value.
  • Discount Rate: Risen slightly from about 6.38 percent to 6.41 percent, implying a modestly higher required return on equity.
  • Revenue Growth: Essentially unchanged at around 3.05 percent annually, reflecting a steady outlook for long term top line expansion.
  • Net Profit Margin: Fallen slightly from roughly 21.87 percent to 21.69 percent, suggesting a marginally more conservative profitability assumption.
  • Future P E: Risen slightly from about 26.6 times to 26.9 times, pointing to a modestly higher valuation multiple applied to expected earnings.

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Disclaimer

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