お知らせ • Oct 09
METabolic EXplorer S.A.(ENXTPA:METEX) dropped from CAC AllShares Index METabolic EXplorer S.A. has been dropped from the CAC AllShares Index New Risk • Apr 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 5.1% per year over the past 5 years. Market cap is less than US$10m (€8.78m market cap, or US$9.33m). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Shareholders have been diluted in the past year (16% increase in shares outstanding). New Risk • Apr 02
New major risk - Revenue and earnings growth Earnings have declined by 5.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 5.1% per year over the past 5 years. Market cap is less than US$10m (€7.22m market cap, or US$7.76m). Minor Risk Shareholders have been diluted in the past year (16% increase in shares outstanding). New Risk • Feb 18
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€54m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€54m free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€17m net loss in 2 years). Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (€20.7m market cap, or US$22.3m). New Risk • Oct 21
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: €49m Forecast net loss in 2 years: €11m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risks Less than 1 year of cash runway based on current free cash flow (-€54m). Currently unprofitable and not forecast to become profitable over next 2 years (€11m net loss in 2 years). Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (€11.4m market cap, or US$12.1m). Reported Earnings • Oct 02
First half 2023 earnings released: €0.33 loss per share (vs €0.51 loss in 1H 2022) First half 2023 results: €0.33 loss per share (improved from €0.51 loss in 1H 2022). Revenue: €69.9m (down 46% from 1H 2022). Net loss: €16.9m (loss narrowed 8.1% from 1H 2022). Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 5.0% decline forecast for the Chemicals industry in the United Kingdom. New Risk • Sep 30
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -€55m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risks Less than 1 year of cash runway based on current free cash flow (-€55m). Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (€25.4m market cap, or US$26.8m). Reported Earnings • Oct 02
First half 2022 earnings released: EPS: €0 (vs €2.70 in 1H 2021) First half 2022 results: EPS: €0 (down from €2.70 in 1H 2021). Revenue: €129.9m (up 250% from 1H 2021). Net loss: €18.4m (down 123% from profit in 1H 2021). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.2% decline forecast for the Chemicals industry in the United Kingdom. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment deteriorated over the past week After last week's 47% share price decline to €2.17, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 17x in the Chemicals industry in the United Kingdom. Total returns to shareholders of 39% over the past three years. Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €4.59, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 18x in the Chemicals industry in the United Kingdom. Total returns to shareholders of 155% over the past three years. Reported Earnings • Apr 02
Full year 2021 earnings released Full year 2021 results: Revenue: €171.6m (up €169.7m from FY 2020). Net income: €84.1m (up €93.1m from FY 2020). Profit margin: 49% (up from net loss in FY 2020). Over the next year, revenue is forecast to grow 107% compared to a 15% decline forecast for the industry in the United Kingdom. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improved over the past week After last week's 16% share price gain to €4.92, the stock trades at a trailing P/E ratio of 2.7x. Average trailing P/E is 23x in the Chemicals industry in the United Kingdom. Total returns to shareholders of 252% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €4.56, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 22x in the Chemicals industry in the United Kingdom. Total returns to shareholders of 228% over the past three years. Reported Earnings • Apr 04
Full year 2020 earnings released Full year 2020 results: Net loss: €8.94m (loss widened 8.5% from FY 2019). Is New 90 Day High Low • Mar 02
New 90-day high: €4.76 The company is up 113% from its price of €2.23 on 01 December 2020. The British market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 13% over the same period.