ASX:MX1

Stock Analysis Report

Executive Summary

Micro-X Limited designs, develops, and manufactures ultra-lightweight carbon nano tube based X-ray products for the healthcare and improvised explosive device imaging security markets in Australia.

Snowflake

Fundamentals

Exceptional growth potential with weak fundamentals.

Share Price & News

How has Micro-X's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0%

MX1

2.4%

AU Medical Equipment

-0.2%

AU Market


1 Year Return

-22.0%

MX1

31.8%

AU Medical Equipment

10.5%

AU Market

Return vs Industry: MX1 underperformed the Australian Medical Equipment industry which returned 31.8% over the past year.

Return vs Market: MX1 underperformed the Australian Market which returned 10.5% over the past year.


Shareholder returns

MX1IndustryMarket
7 Day0%2.4%-0.2%
30 Day1.6%3.1%-1.4%
90 Day-3.0%3.4%-1.0%
1 Year-22.0%-22.0%34.1%31.8%16.9%10.5%
3 Year-28.3%-28.9%52.9%46.2%36.9%18.6%
5 Yearn/a143.7%124.0%50.2%16.2%

Price Volatility Vs. Market

How volatile is Micro-X's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Micro-X undervalued compared to its fair value and its price relative to the market?


In this section, we usually try to help investors determine whether Micro-X is trading at an attractive price based on the cash flow it is expected to produce in the future. But as Micro-X has not provided consistent financial data, and the stock also has no analyst forecast or coverage, its intrinsic value cannot be reliably calculated by extrapolating past data or using analyst consensus cash flow predictions.

This is quite a rare situation as 89% of companies covered by Simply Wall St do have a valuation analysis.


Next Steps

Future Growth

How is Micro-X forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

94.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MX1 is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.3%).

Earnings vs Market: MX1 is forecast to become profitable over the next 3 year, which is considered above average market growth.

High Growth Earnings: MX1's loss is forecast to worsen by 0% next year.

Revenue vs Market: MX1's revenue (80.6% per year) is forecast to grow faster than the Australian market (3.6% per year).

High Growth Revenue: MX1's revenue (80.6% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MX1's Return on Equity is forecast to be very high in 3 years time (219.7%).


Next Steps

Past Performance

How has Micro-X performed over the past 5 years?

-14.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: MX1 is unprofitable, and losses have increased over the past 5 years at a rate of -14.5% per year.

Accelerating Growth: Unable to compare MX1's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MX1 is unprofitable, making it difficult to compare its past year earnings growth to the Medical Equipment industry (29.5%).


Return on Equity

High ROE: MX1's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


Return on Assets

ROA vs Industry: MX1 is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: MX1 is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Micro-X's financial position?


Financial Position Analysis

Short Term Liabilities: MX1 has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: MX1 has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.


Debt to Equity History and Analysis

Debt Level: MX1 has negative shareholder equity, which is a more serious situation than a high debt level.

Reducing Debt: MX1's has negative shareholder equity, so we do not need to check if its debt has reduced over time.


Balance Sheet

Inventory Level: MX1 has a high level of physical assets or inventory.

Debt Coverage by Assets: MX1 has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: MX1 has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: MX1 has less than a year of cash runway if free cash flow continues to grow at historical rates of 10% each year.


Next Steps

Dividend

What is Micro-X's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%2.4%markettop25%5.6%industryaverage1.6%forecastin3Years0%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate MX1's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate MX1's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if MX1's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MX1's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MX1's dividend in 3 years as they are not forecast to pay a notable one for the Australian market.


Next Steps

Management

What is the CEO of Micro-X's salary, the management and board of directors tenure and is there insider trading?

4.2yrs

Average board tenure


CEO

Peter Rowland 0

5.1yrs

Tenure

AU$303,863

Compensation

Mr. Peter Robin Rowland, BSc., MBA, MIET, CEng, FAICD, serves as Managing Director and Executive Director of Micro-X Limited. Mr. Rowland is a laser industry veteran with 25 years' experience in engineerin ...


CEO Compensation Analysis

Compensation vs. Market: Peter's total compensation ($USD208.03K) is about average for companies of similar size in the Australian market ($USD259.85K).

Compensation vs Earnings: Peter's compensation has been consistent with company performance over the past year.


Board Age and Tenure

4.2yrs

Average Tenure

Experienced Board: MX1's board of directors are considered experienced (4.2 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Peter Rowland

    MD & Executive Director

    • Tenure: 5.1yrs
    • Compensation: AU$303.86k
  • Georgina Carpendale

    CFO & Company Secretary

    • Tenure: 3.3yrs
    • Compensation: AU$183.20k
  • Brian Gonzales

    Chief Imaging Scientist

    • Tenure: 0yrs

Board Members

  • Yasmin King

    Non-Executive Director

    • Tenure: 2.8yrs
    • Compensation: AU$50.81k
  • Peter Rowland

    MD & Executive Director

    • Tenure: 5.1yrs
    • Compensation: AU$303.86k
  • Patrick O'Brien

    Non Executive Chairman

    • Tenure: 4.2yrs
    • Compensation: AU$64.35k
  • Alexander Gosling

    Non-Executive Director

    • Tenure: 4.2yrs
    • Compensation: AU$42.90k

Company Information

Micro-X Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Micro-X Limited
  • Ticker: MX1
  • Exchange: ASX
  • Founded: 2011
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: AU$54.457m
  • Shares outstanding: 165.02m
  • Website: https://www.micro-x.com

Location

  • Micro-X Limited
  • A14, 6 MAB Eastern Promenade
  • 1284 South Road
  • Tonsley
  • South Australia
  • 5042
  • Australia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MX1ASX (Australian Securities Exchange)YesOrdinary SharesAUAUDDec 2015
MX1CHIA (Chi-X Australia)YesOrdinary SharesAUAUDDec 2015

Biography

Micro-X Limited designs, develops, and manufactures ultra-lightweight carbon nano tube based X-ray products for the healthcare and improvised explosive device imaging security markets in Australia. The com ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 10:40
End of Day Share Price2019/10/21 00:00
Earnings2019/06/30
Annual Earnings2019/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.