SWX:KOMN

Stock Analysis Report

Executive Summary

Komax Holding AG, together with its subsidiaries, engages in the automated wire processing business.


Snowflake Analysis

Reasonable growth potential with adequate balance sheet.

Share Price & News

How has Komax Holding's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: KOMN's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-6.2%

KOMN

1.2%

CH Machinery

2.2%

CH Market


1 Year Return

-36.1%

KOMN

-13.7%

CH Machinery

-1.8%

CH Market

Return vs Industry: KOMN underperformed the Swiss Machinery industry which returned -18% over the past year.

Return vs Market: KOMN underperformed the Swiss Market which returned -5.4% over the past year.


Shareholder returns

KOMNIndustryMarket
7 Day-6.2%1.2%2.2%
30 Day-14.9%0.07%-2.9%
90 Day-41.2%-19.2%-11.3%
1 Year-34.2%-36.1%-11.5%-13.7%1.4%-1.8%
3 Year-41.7%-46.0%-3.2%-9.5%17.5%6.0%
5 Year-7.4%-19.2%20.5%3.9%19.0%-0.5%

Price Volatility Vs. Market

How volatile is Komax Holding's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Komax Holding undervalued compared to its fair value and its price relative to the market?

44.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: KOMN (CHF141.6) is trading below our estimate of fair value (CHF252.4)

Significantly Below Fair Value: KOMN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: KOMN is poor value based on its PE Ratio (41.2x) compared to the Machinery industry average (17.5x).

PE vs Market: KOMN is poor value based on its PE Ratio (41.2x) compared to the Swiss market (16.2x).


Price to Earnings Growth Ratio

PEG Ratio: KOMN is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: KOMN is overvalued based on its PB Ratio (2.2x) compared to the CH Machinery industry average (1.7x).


Next Steps

Future Growth

How is Komax Holding forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

41.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KOMN's forecast earnings growth (37.9% per year) is above the savings rate (-0.6%).

Earnings vs Market: KOMN's earnings (37.9% per year) are forecast to grow faster than the Swiss market (8.4% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: KOMN's revenue (5.4% per year) is forecast to grow faster than the Swiss market (2.2% per year).

High Growth Revenue: KOMN's revenue (5.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: KOMN's Return on Equity is forecast to be low in 3 years time (14.2%).


Next Steps

Past Performance

How has Komax Holding performed over the past 5 years?

-3.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: KOMN has high quality earnings.

Growing Profit Margin: KOMN's current net profit margins (3.2%) are lower than last year (10.8%).


Past Earnings Growth Analysis

Earnings Trend: KOMN's earnings have declined by -3.4% per year over the past 5 years.

Accelerating Growth: KOMN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: KOMN had negative earnings growth (-74.5%) over the past year, making it difficult to compare to the Machinery industry average (0.5%).


Return on Equity

High ROE: KOMN's Return on Equity (5.4%) is considered low.


Next Steps

Financial Health

How is Komax Holding's financial position?


Financial Position Analysis

Short Term Liabilities: KOMN's short term assets (CHF288.9M) exceed its short term liabilities (CHF93.1M).

Long Term Liabilities: KOMN's short term assets (CHF288.9M) exceed its long term liabilities (CHF143.5M).


Debt to Equity History and Analysis

Debt Level: KOMN's debt to equity ratio (62.8%) is considered high.

Reducing Debt: KOMN's debt to equity ratio has increased from 8.3% to 62.8% over the past 5 years.

Debt Coverage: KOMN's debt is well covered by operating cash flow (26.9%).

Interest Coverage: KOMN's interest payments on its debt are well covered by EBIT (13.3x coverage).


Balance Sheet


Next Steps

Dividend

What is Komax Holding's current dividend yield, its reliability and sustainability?

1.28%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: KOMN's dividend (1.27%) isn’t notable compared to the bottom 25% of dividend payers in the Swiss market (2.05%).

High Dividend: KOMN's dividend (1.27%) is low compared to the top 25% of dividend payers in the Swiss market (4.46%).


Stability and Growth of Payments

Stable Dividend: KOMN is not paying a notable dividend for the Swiss market, therefore no need to check if payments are stable.

Growing Dividend: KOMN is not paying a notable dividend for the Swiss market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: KOMN is not paying a notable dividend for the Swiss market.


Future Payout to Shareholders

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


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.3yrs

Average management tenure


CEO

Matijas Meyer (49yo)

4.92s

Tenure

CHF791,941

Compensation

Mr. Matijas Meyer has been the Chief Executive Officer of Komax Holding AG since May 11, 2015. Mr. Meyer served as the Head of Wire Business Unit at Komax Holding AG from November 2010 to May 8, 2015. He j ...


CEO Compensation Analysis

Compensation vs Market: Matijas's total compensation ($USD809.61K) is about average for companies of similar size in the Swiss market ($USD1.03M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Matijas Meyer
Chief Executive Officer4.92yrsCHF791.94k0.10% CHF589.2k
Andreas Wolfisberg
Chief Financial Officer29.25yrsno data0.013% CHF73.6k
Roger Müller
Vice President of Investor Relations & Corporate Communicationsno datano datano data
Marc Schürmann
Executive Vice President1.25yrsno data0.0052% CHF29.4k
Marcus Setterberg
Executive Vice President1.25yrsno data0.0036% CHF20.2k
Jürgen Hohnhaus
Executive Vice President0.25yrno datano data

1.3yrs

Average Tenure

49yo

Average Age

Experienced Management: KOMN's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
David Dean
Independent Non-Executive Vice Chairman1.25yrsCHF135.40k0.029% CHF166.1k
Beat Kälin
Independent Non-Executive Chairman4.92yrsCHF293.15k0.26% CHF1.5m
Roland Siegwart
Non-Executive & Independent Director6.92yrsCHF125.97k0.055% CHF313.5k
Andreas Häberli
Independent Non-Executive Director2.92yrsCHF125.97k0.0049% CHF27.7k
Kurt Haerri
Independent Non-Executive Director7.92yrsCHF125.97k0.078% CHF440.0k
Mariel Hoch
Independent Non-Executive Director1yrCHF84.43kno data

3.9yrs

Average Tenure

58.5yo

Average Age

Experienced Board: KOMN's board of directors are considered experienced (3.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Komax Holding AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Komax Holding AG
  • Ticker: KOMN
  • Exchange: SWX
  • Founded: 1975
  • Industry: Industrial Machinery
  • Sector: Capital Goods
  • Market Cap: CHF566.056m
  • Shares outstanding: 3.84m
  • Website: https://www.komaxgroup.com

Number of Employees


Location

  • Komax Holding AG
  • Industriestrasse 6
  • Dierikon
  • Lucerne
  • 6036
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KMAA.FOTCPK (Pink Sheets LLC)YesRegistered SharesUSUSDJun 1997
KOMNSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFJun 1997
0QKLLSE (London Stock Exchange)YesRegistered SharesGBCHFJun 1997
KR8DB (Deutsche Boerse AG)YesRegistered SharesDEEURJun 1997

Biography

Komax Holding AG, together with its subsidiaries, engages in the automated wire processing business. The company offers electrical, rotary, and coaxial wire strippers, as well as rotary jacket strippers; wire crimpers for semiautomatic machine; cutting and stripping machines; crimp to crimp wire processing machines for processing single conductors and double-crimp connections; wire twisting machines; and harness manufacturing machines for automatic block loading and wire harness manufacturing. It also provides wire-handling machines for preliminary wire processing; marking systems; process modules for economical production; quality tools; software solutions for automatic crimping machines; and a range of accessories. In addition, the company offers stripping crimping, and shield preparation and taping machines; flexible benchtop crimping platform for individual processing; flexible platform for specific customers; automated rotary table for time saving in double-sided processing; customer-specific platforms; and test systems. Further, it provides digital services; consulting and installation services comprising inspection, production analysis, feasibility testing, installation, and acceptance testing services; and technical support and maintenance services, including helpdesk, production and ramp-up support, emergency planning, relocation, repair, and service and maintenance contracting services, as well as spare and wear parts. Additionally, the company offers upgrades and services; and online and onsite training services. It serves automotive, aerospace, datacom/telecom, and industrial market segments. The company operates in Switzerland and rest of Europe, North and South America, Africa, and the Asia Pacific. It primarily operates under the TSK and Komax brand names. Komax Holding AG was founded in 1975 and is headquartered in Dierikon, Switzerland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/08 20:48
End of Day Share Price2020/04/08 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.