SWX:MIKN

Stock Analysis Report

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Executive Summary

Mikron Holding AG, together with its subsidiaries, develops, produces, and markets automation and machining systems for precise and productive manufacturing processes worldwide.


Snowflake Analysis

Flawless balance sheet and good value.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: MIKN has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

5.9%

MIKN

3.4%

CH Machinery

2.3%

CH Market


1 Year Return

-34.6%

MIKN

2.5%

CH Machinery

3.2%

CH Market

Return vs Industry: MIKN underperformed the Swiss Machinery industry which returned 1.8% over the past year.

Return vs Market: MIKN underperformed the Swiss Market which returned 3.6% over the past year.


Shareholder returns

MIKNIndustryMarket
7 Day5.9%3.4%2.3%
30 Day11.3%12.7%4.9%
90 Day-5.6%11.6%2.7%
1 Year-34.6%-34.6%6.1%2.5%6.6%3.2%
3 Year-12.9%-15.6%7.5%-1.2%21.1%8.7%
5 Year-4.5%-8.9%41.6%20.0%32.6%10.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

10.05x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: MIKN (CHF5.4) is trading above our estimate of fair value (CHF2.97)

Significantly Below Fair Value: MIKN is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: MIKN is good value based on its PE Ratio (10x) compared to the Machinery industry average (19.4x).

PE vs Market: MIKN is good value based on its PE Ratio (10x) compared to the Swiss market (19.8x).


Price to Earnings Growth Ratio

PEG Ratio: MIKN is good value based on its PEG Ratio (0.2x)


Price to Book Ratio

PB vs Industry: MIKN is good value based on its PB Ratio (0.5x) compared to the CH Machinery industry average (2.1x).


Next Steps

Future Growth

How is Mikron Holding forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

46.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MIKN's forecast earnings growth (46.9% per year) is above the savings rate (-0.2%).

Earnings vs Market: MIKN's earnings (46.9% per year) are forecast to grow faster than the Swiss market (8.5% per year).

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

Revenue vs Market: MIKN's revenue (4.6% per year) is forecast to grow faster than the Swiss market (2.3% per year).

High Growth Revenue: MIKN's revenue (4.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if MIKN's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Mikron Holding performed over the past 5 years?

52.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MIKN has high quality earnings.

Growing Profit Margin: MIKN's current net profit margins (2.7%) are lower than last year (3.9%).


Past Earnings Growth Analysis

Earnings Trend: MIKN's earnings have grown significantly by 52.5% per year over the past 5 years.

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

Earnings vs Industry: MIKN had negative earnings growth (-28.4%) over the past year, making it difficult to compare to the Machinery industry average (0.5%).


Return on Equity

High ROE: MIKN's Return on Equity (5.2%) is considered low.


Next Steps

Financial Health

How is Mikron Holding's financial position?


Financial Position Analysis

Short Term Liabilities: MIKN's short term assets (CHF178.0M) exceed its short term liabilities (CHF103.6M).

Long Term Liabilities: MIKN's short term assets (CHF178.0M) exceed its long term liabilities (CHF16.6M).


Debt to Equity History and Analysis

Debt Level: MIKN's debt to equity ratio (8.2%) is considered satisfactory.

Reducing Debt: MIKN's debt to equity ratio has reduced from 8.9% to 8.2% over the past 5 years.

Debt Coverage: MIKN's debt is well covered by operating cash flow (52.6%).

Interest Coverage: MIKN's interest payments on its debt are well covered by EBIT (174.7x coverage).


Balance Sheet


Next Steps

Dividend

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

0.56%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MIKN's dividend (0.56%) isn’t notable compared to the bottom 25% of dividend payers in the Swiss market (1.94%).

High Dividend: MIKN's dividend (0.56%) is low compared to the top 25% of dividend payers in the Swiss market (3.83%).


Stability and Growth of Payments

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

Growing Dividend: MIKN 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: MIKN is not paying a notable dividend for the Swiss market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MIKN'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?

8.7yrs

Average management tenure


CEO

Bruno Cathomen (52yo)

8.67yrs

Tenure

CHF644,000

Compensation

Mr. Bruno Cathomen, Dipl. Ing. ETH, has been the Chief Executive Officer of Mikron Holding AG since October 1, 2011 and as its Head of Mikron Machining Solutions since October 2009. Mr. Cathomen served as  ...


CEO Compensation Analysis

Compensation vs Market: Bruno's total compensation ($USD669.02K) is about average for companies of similar size in the Swiss market ($USD537.11K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Bruno Cathomen
Group CEO & Head of Mikron Machining Solutions8.67yrsCHF644.00k0.31% CHF271.3k
Javier Perez-Freije
Chief Financial Officer1.83yrsno data0.061% CHF54.0k
Florencia Saldías
Head of Financeno datano datano data
Rolf Rihs
Head of Mikron Automation18.42yrsno data0.22% CHF196.8k
Jean-François Bauer
Head of Marketing & Business Development - Mikron Automationno datano datano data

8.7yrs

Average Tenure

52yo

Average Age

Experienced Management: MIKN's management team is seasoned and experienced (8.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Eduard Rikli
Non-Executive Vice-Chairman9.67yrsCHF94.00k0.16% CHF137.7k
Heinrich Spoerry
Non-Executive Chairman9.67yrsCHF121.00k0.11% CHF100.8k
Paul Zumbühl
Non-Executive Director2.17yrsCHF87.00k0.29% CHF255.4k
Hans-Michael Hauser
Non-Executive Director4.42yrsCHF87.00k0.025% CHF21.6k
Andreas Casutt
Non-Executive Director7.17yrsCHF87.00k0.025% CHF21.6k
Patrick Kilchmann
Non-Executive Director9.42yrsCHF78.00kno data

8.3yrs

Average Tenure

61.5yo

Average Age

Experienced Board: MIKN's board of directors are considered experienced (8.3 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

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


Key Information

  • Name: Mikron Holding AG
  • Ticker: MIKN
  • Exchange: SWX
  • Founded: 1908
  • Industry: Industrial Machinery
  • Sector: Capital Goods
  • Market Cap: CHF88.171m
  • Shares outstanding: 16.33m
  • Website: https://www.mikron.com

Number of Employees


Location

  • Mikron Holding AG
  • MUehlebrUecke 2
  • Biel/Bienne
  • Bern
  • 2502
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MIKNSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFJan 1992
MH4NDB (Deutsche Boerse AG)YesRegistered SharesDEEURJan 1992
0QQFLSE (London Stock Exchange)YesRegistered SharesGBCHFJan 1992

Biography

Mikron Holding AG, together with its subsidiaries, develops, produces, and markets automation and machining systems for precise and productive manufacturing processes worldwide. The company operates in two segments, Mikron Automation and Mikron Machining Solutions. The Mikron Automation segment manufactures scalable and customized assembly systems. Its solutions include automation assembly and testing systems; feeding systems; and customized systems, including rotary and linear indexing systems, manual systems, robotic cells, wafer handling, and semi-automatic systems, as well as spare parts, technical support, improvement, training, and partner support services. The Mikron Machining Solutions segment supplies machining systems for the manufacture of high-precision components made of metal, such as turbocharger housings, injection nozzles, and ballpoint pen tips. It offers productive systems, machining centers, and pre-machining equipment; and support services. This segment also develops and produces high-precision cutting tools for the high-end market. It serves the automotive, electronics and telecommunications, medtech, consumer goods, construction/building, pneumatics and hydraulics, pharmaceutical, electrical, writing instruments, and watchmaking industries. The company was founded in 1908 and is based in Biel, Switzerland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/05 21:03
End of Day Share Price2020/06/05 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.