New Risk • May 22
New major risk - Revenue and earnings growth Earnings have declined by 70% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 70% per year over the past 5 years. Market cap is less than US$10m (€8.02m market cap, or US$9.31m). New Risk • Feb 16
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.32m (US$9.86m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Market cap is less than US$10m (€8.32m market cap, or US$9.86m). Major Estimate Revision • Feb 15
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from €130.0m to €120.0m. Now expected to report a loss of €0.48 per share instead of €0.10 per share profit previously forecast. Electronic industry in France expected to see average net income growth of 81% next year. Consensus price target down from €4.45 to €3.50. Share price fell 8.7% to €2.84 over the past week. Price Target Changed • Feb 13
Price target decreased by 25% to €3.50 Down from €4.65, the current price target is provided by 1 analyst. New target price is 23% above last closing price of €2.84. Stock is down 19% over the past year. The company is forecast to post a net loss per share of €0.48 next year compared to a net loss per share of €1.45 last year. New Risk • Dec 14
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Market cap is less than US$100m (€9.54m market cap, or US$11.2m). Aankondiging • Aug 12
Innelec Multimédia SA, Annual General Meeting, Sep 18, 2025 Innelec Multimédia SA, Annual General Meeting, Sep 18, 2025. Location: centre d activites de l ourcq, 45 rue delizy, pantin France Buy Or Sell Opportunity • Aug 07
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 9.2% to €3.44. The fair value is estimated to be €2.86, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Buy Or Sell Opportunity • Jul 01
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to €3.54. The fair value is estimated to be €2.85, however this is not to be taken as a sell recommendation but rather should be used as a guide only. New Risk • Jun 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of French stocks, typically moving 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (114% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.2% average weekly change). Market cap is less than US$100m (€10.8m market cap, or US$12.4m). Reported Earnings • Jun 15
Full year 2025 earnings released Full year 2025 results: Revenue: €119.4m (down 37% from FY 2024). Net loss: €4.31m (down €5.27m from profit in FY 2024). Revenue is forecast to grow 7.9% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in France. New Risk • Jun 13
New major risk - Revenue and earnings growth Earnings have declined by 41% 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 Risk Earnings have declined by 41% per year over the past 5 years. Minor Risks High level of debt (114% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (€10.7m market cap, or US$12.4m). New Risk • Apr 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.15m (US$9.87m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (€9.15m market cap, or US$9.87m). Minor Risks High level of debt (114% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Major Estimate Revision • Feb 15
Consensus EPS estimates fall by 24% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €140.1m to €130.1m. Losses expected to increase from €0.81 per share to €1.01. Electronic industry in France expected to see average net income growth of 61% next year. Consensus price target down from €6.10 to €5.40. Share price was steady at €3.51 over the past week. New Risk • Feb 13
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 114% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (114% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (€10.6m market cap, or US$11.1m). Buy Or Sell Opportunity • Dec 17
Now 31% overvalued Over the last 90 days, the stock has fallen 9.1% to €3.67. The fair value is estimated to be €2.80, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to decline by 2.5% in a year. Earnings are forecast to grow by 80% in the next year. Major Estimate Revision • Dec 13
Consensus EPS estimates fall by 180% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -€0.289 to -€0.81 per share. Revenue forecast unchanged at €140.2m. Electronic industry in France expected to see average net income growth of 34% next year. Consensus price target down from €6.70 to €6.10. Share price rose 11% to €3.15 over the past week. Buy Or Sell Opportunity • Nov 15
Now 21% overvalued Over the last 90 days, the stock has fallen 36% to €3.08. The fair value is estimated to be €2.55, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has declined by 69%. For the next 3 years, revenue is forecast to decline by 4.6% per annum. Earnings are forecast to grow by 39% per annum over the same time period. Buy Or Sell Opportunity • Oct 25
Now 21% overvalued Over the last 90 days, the stock has fallen 41% to €3.10. The fair value is estimated to be €2.57, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has declined by 69%. For the next 3 years, revenue is forecast to decline by 1.9% per annum. Earnings are forecast to grow by 36% per annum over the same time period. Major Estimate Revision • Oct 24
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €154.9m to €152.5m. EPS estimate also fell from €0.192 per share to €0.166 per share. Net income forecast to shrink 49% next year vs 13% growth forecast for Electronic industry in France . Consensus price target of €8.00 unchanged from last update. Share price was steady at €2.84 over the past week. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €2.96, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 12x in the Electronic industry in France. Total loss to shareholders of 56% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.81 per share. Buy Or Sell Opportunity • Sep 27
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 23% to €3.54. The fair value is estimated to be €4.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has declined by 69%. For the next 3 years, revenue is forecast to decline by 1.4% per annum. Earnings are forecast to grow by 40% per annum over the same time period. Buy Or Sell Opportunity • Sep 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 46% to €3.85. The fair value is estimated to be €4.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has declined by 69%. For the next 3 years, revenue is forecast to decline by 1.4% per annum. Earnings are forecast to grow by 40% per annum over the same time period. Major Estimate Revision • Aug 30
Consensus EPS estimates increase by 80%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from €162.9m to €154.9m. EPS estimate rose from €0.205 to €0.37. Net income forecast to grow 15% next year vs 48% growth forecast for Electronic industry in France. Consensus price target down from €8.60 to €8.20. Share price was steady at €3.85 over the past week. Price Target Changed • Aug 29
Price target decreased by 8.9% to €8.20 Down from €9.00, the current price target is an average from 2 analysts. New target price is 113% above last closing price of €3.85. Stock is down 41% over the past year. The company is forecast to post earnings per share of €0.37 for next year compared to €0.32 last year. New Risk • Aug 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of French stocks, typically moving 9.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.8% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (0.5% net profit margin). Market cap is less than US$100m (€11.7m market cap, or US$13.0m). Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to €4.06, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 12x in the Electronic industry in France. Total loss to shareholders of 41% over the past three years. Aankondiging • Aug 15
Innelec Multimédia SA, Annual General Meeting, Sep 18, 2024 Innelec Multimédia SA, Annual General Meeting, Sep 18, 2024. Location: centre d activites de lourcq, 45 rue delizy, pantin cedex France Major Estimate Revision • Aug 15
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €169.7m to €162.9m. EPS estimate also fell from €0.235 per share to €0.205 per share. Net income forecast to shrink 37% next year vs 48% growth forecast for Electronic industry in France . Consensus price target down from €9.00 to €8.60. Share price was steady at €4.80 over the past week. Major Estimate Revision • Jun 14
Consensus EPS estimates fall by 75% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €183.8m to €169.7m. EPS estimate also fell from €0.925 per share to €0.235 per share. Net income forecast to shrink 27% next year vs 41% growth forecast for Electronic industry in France . Consensus price target down from €10.30 to €9.00. Share price fell 25% to €5.38 over the past week. Reported Earnings • Jun 14
Full year 2024 earnings released Full year 2024 results: Revenue: €187.0m (up 14% from FY 2023). Net income: €960.0k (down 28% from FY 2023). Profit margin: 0.5% (down from 0.8% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 18% growth forecast for the Electronic industry in France. Price Target Changed • Jun 13
Price target decreased by 11% to €9.80 Down from €11.05, the current price target is an average from 2 analysts. New target price is 82% above last closing price of €5.38. Stock is down 14% over the past year. The company is forecast to post earnings per share of €0.41 for next year compared to €0.46 last year. Price Target Changed • Feb 19
Price target decreased by 10% to €11.05 Down from €12.30, the current price target is an average from 2 analysts. New target price is 82% above last closing price of €6.08. Stock is up 9.0% over the past year. The company is forecast to post earnings per share of €0.43 for next year compared to €0.46 last year. Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to €5.80, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Electronic industry in France. Total returns to shareholders of 44% over the past three years. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to €8.12, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Electronic industry in France. Total returns to shareholders of 100% over the past three years. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment deteriorates as stock falls 33% After last week's 33% share price decline to €6.04, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Electronic industry in France. Total returns to shareholders of 45% over the past three years. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to €8.40, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Electronic industry in France. Total returns to shareholders of 94% over the past three years. New Risk • Jun 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2022. 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 Risk Debt is not well covered by operating cash flow (0.5% operating cash flow to total debt). Minor Risks Latest financial reports are more than 6 months old (reported September 2022 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.8% increase in shares outstanding). Market cap is less than US$100m (€17.5m market cap, or US$19.1m). Price Target Changed • May 10
Price target increased by 51% to €12.10 Up from €8.00, the current price target is provided by 1 analyst. New target price is 114% above last closing price of €5.66. Stock is down 2.1% over the past year. The company is forecast to post earnings per share of €0.19 for next year compared to €0.41 last year. Major Estimate Revision • Mar 07
Consensus EPS estimates fall by 70% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €168.0m to €161.3m. EPS estimate also fell from €0.612 per share to €0.186 per share. Net income forecast to shrink 21% next year vs 15% decline forecast for Electronic industry in France. Consensus price target of €7.80 unchanged from last update. Share price was steady at €5.36 over the past week. Reported Earnings • Dec 17
First half 2023 earnings released First half 2023 results: Revenue: €65.9m (up 25% from 1H 2022). Net loss: €260.0k (loss narrowed 59% from 1H 2022). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in France. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Nov 16
Consensus revenue estimates increase by 19% The consensus outlook for revenues in 2023 has improved. 2023 revenue forecast increased from €141.5m to €168.0m. EPS estimate increased from €0.48 to €0.61 per share. Net income forecast to grow 54% next year vs 40% growth forecast for Electronic industry in France. Consensus price target down from €8.00 to €7.80. Share price rose 8.4% to €5.44 over the past week. Reported Earnings • Aug 02
Full year 2022 earnings: Revenues in line with analyst expectations Full year 2022 results: Revenue: €134.4m (up 6.7% from FY 2021). Net income: €1.17m (down 84% from FY 2021). Profit margin: 0.9% (down from 5.6% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 5.3%, compared to a 29% growth forecast for the industry in France. Major Estimate Revision • Jun 28
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in 2023 has deteriorated. 2023 revenue forecast decreased from €145.0m to €141.5m. EPS estimate also fell from €0.57 per share to €0.48 per share. Net income forecast to grow 21% next year vs 44% growth forecast for Electronic industry in France. Consensus price target of €8.00 unchanged from last update. Share price fell 4.1% to €4.91 over the past week. Reported Earnings • Jun 21
Full year 2022 earnings: Revenues in line with analyst expectations Full year 2022 results: Revenue: €134.4m (up 6.7% from FY 2021). Net income: €1.17m (down 84% from FY 2021). Profit margin: 0.9% (down from 5.6% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 7.9%, compared to a 27% growth forecast for the industry in France. Price Target Changed • Apr 27
Price target decreased to €9.50 Down from €11.00, the current price target is provided by 1 analyst. New target price is 75% above last closing price of €5.42. Stock is down 30% over the past year. The company is forecast to post earnings per share of €0.95 for next year compared to €2.54 last year. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €4.96, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 15x in the Electronic industry in France. Total returns to shareholders of 11% over the past three years. Major Estimate Revision • Dec 11
Consensus EPS estimates fall to €0.98 The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from €141.6m to €138.3m. EPS estimate also fell from €1.25 to €0.98. Net income forecast to shrink 60% next year vs 28% growth forecast for Electronic industry in France . Consensus price target down from €13.00 to €11.00. Share price was steady at €7.52 over the past week. Reported Earnings • Jul 22
Full year 2021 earnings released: EPS €2.47 (vs €0.26 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: €125.9m (up 22% from FY 2020). Net income: €7.08m (up €7.79m from FY 2020). Profit margin: 5.6% (up from net loss in FY 2020). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Feb 14
Analysts increase EPS estimates to €2.57 The 2021 consensus revenue estimate increased from €111.6m to €120.1m. The earnings per share estimate also received an upgrade from €2.14 to €2.57 for the same period. Net income is expected to shrink by 4.7% next year compared to 4.7% growth forecast for the Electronic industry in France . The consensus price target increased from €6.80 to €9.50. Share price is up 25% to €7.74 over the past week. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improved over the past week After last week's 16% share price gain to €6.48, the stock is trading at a trailing P/E ratio of 3.5x, up from the previous P/E ratio of 3x. This compares to an average P/E of 34x in the Electronic industry in France. Total return to shareholders over the past three years is a loss of 18%. Is New 90 Day High Low • Feb 06
New 90-day high: €6.18 The company is up 23% from its price of €5.04 on 06 November 2020. The French market is up 14% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 42% over the same period. Is New 90 Day High Low • Jan 21
New 90-day high: €5.94 The company is up 14% from its price of €5.20 on 23 October 2020. The French market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 36% over the same period. Reported Earnings • Jan 21
First half 2021 earnings released: EPS €1.89 The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €44.4m (up 4.3% from 1H 2020). Net income: €5.42m (up €5.89m from 1H 2020). Profit margin: 12% (up from net loss in 1H 2020). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 04
New 90-day high: €5.86 The company is up 19% from its price of €4.94 on 06 October 2020. The French market is up 14% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 33% over the same period. Price Target Changed • Dec 29
Price target raised to €6.80 Up from €6.00, the current price target is provided by 1 analyst. The new target price is 20% above the current share price of €5.68. As of last close, the stock is up 10% over the past year. Is New 90 Day High Low • Dec 10
New 90-day high: €5.40 The company is up 6.0% from its price of €5.08 on 11 September 2020. The French market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 19% over the same period. Is New 90 Day High Low • Oct 29
New 90-day low: €4.63 The company is down 7.0% from its price of €5.00 on 30 July 2020. The French market is down 2.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Electronic industry, which is down 8.0% over the same period.