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M0Y

Mynaric XTRA:M0Y Stock Report

Last Price

€33.55

Market Cap

€189.6m

7D

-0.9%

1Y

-55.4%

Updated

15 Aug, 2022

Data

Company Financials +
M0Y fundamental analysis
Snowflake Score
Valuation3/6
Future Growth6/6
Past Performance0/6
Financial Health4/6
Dividends0/6

M0Y Stock Overview

Mynaric AG engages in developing and manufacturing advanced laser communication technology for long-distance data transmission between moving objects for wireless terrestrial, airborne, and space applications in Germany and internationally.

Mynaric Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Mynaric
Historical stock prices
Current Share Price€33.55
52 Week High€77.80
52 Week Low€25.80
Beta1.4
1 Month Change3.71%
3 Month Change-11.59%
1 Year Change-55.39%
3 Year Change-21.06%
5 Year Changen/a
Change since IPO-42.81%

Recent News & Updates

Shareholder Returns

M0YDE Aerospace & DefenseDE Market
7D-0.9%2.4%0.3%
1Y-55.4%23.2%-20.0%

Return vs Industry: M0Y underperformed the German Aerospace & Defense industry which returned 19.7% over the past year.

Return vs Market: M0Y underperformed the German Market which returned -20.4% over the past year.

Price Volatility

Is M0Y's price volatile compared to industry and market?
M0Y volatility
M0Y Average Weekly Movement7.5%
Aerospace & Defense Industry Average Movement5.9%
Market Average Movement5.7%
10% most volatile stocks in DE Market10.3%
10% least volatile stocks in DE Market2.8%

Stable Share Price: M0Y is more volatile than 75% of German stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: M0Y's weekly volatility (8%) has been stable over the past year, but is still higher than 75% of German stocks.

About the Company

FoundedEmployeesCEOWebsite
2009249Emin Altanhttps://www.mynaric.com

Mynaric AG engages in developing and manufacturing advanced laser communication technology for long-distance data transmission between moving objects for wireless terrestrial, airborne, and space applications in Germany and internationally. The company offers CONDOR, an optical inter-satellite link flight terminal for satellite-to-satellite communications in space; and HAWK, an airborne flight terminal for air-to-air and air-to-ground links of airborne vehicles. Its products provide connectivity solutions to link satellites, high-altitude platforms, unmanned aerial vehicles, aircraft, and the ground.

Mynaric Fundamentals Summary

How do Mynaric's earnings and revenue compare to its market cap?
M0Y fundamental statistics
Market Cap€189.63m
Earnings (TTM)-€45.48m
Revenue (TTM)€6.97m

27.2x

P/S Ratio

-4.2x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
M0Y income statement (TTM)
Revenue€6.97m
Cost of Revenue€10.06m
Gross Profit-€3.09m
Other Expenses€42.39m
Earnings-€45.48m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)-8.05
Gross Margin-44.28%
Net Profit Margin-652.47%
Debt/Equity Ratio0%

How did M0Y perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is M0Y undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for M0Y?

Other financial metrics that can be useful for relative valuation.

M0Y key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue21.6x
Enterprise Value/EBITDA-3.7x
PEG Ration/a

Price to Sales Ratio vs Peers

How does M0Y's PS Ratio compare to its peers?

M0Y PS Ratio vs Peers
The above table shows the PS ratio for M0Y vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average1.2x
FQT Frequentis
1.3x5.0%€440.4m
OHB OHB
0.6x10.8%€572.9m
5UH Hensoldt
1.5x12.8%€2.5b
RHM Rheinmetall
1.3x14.7%€7.4b
M0Y Mynaric
27.2x43.1%€189.6m

Price-To-Sales vs Peers: M0Y is expensive based on its Price-To-Sales Ratio (27.2x) compared to the peer average (1.2x).


Price to Earnings Ratio vs Industry

How does M0Y's PE Ratio compare vs other companies in the European Aerospace & Defense Industry?

Price-To-Sales vs Industry: M0Y is expensive based on its Price-To-Sales Ratio (27.2x) compared to the German Aerospace & Defense industry average (1.4x)


Price to Sales Ratio vs Fair Ratio

What is M0Y's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

M0Y PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio27.2x
Fair PS Ratio0.3x

Price-To-Sales vs Fair Ratio: M0Y is expensive based on its Price-To-Sales Ratio (27.2x) compared to the estimated Fair Price-To-Sales Ratio (0.3x).


Share Price vs Fair Value

What is the Fair Price of M0Y when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: M0Y (€33.55) is trading below our estimate of fair value (€335.22)

Significantly Below Fair Value: M0Y is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

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

Future Growth Score

6/6

Future Growth Score 6/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


80.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: M0Y is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (-0.01%).

Earnings vs Market: M0Y is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: M0Y is expected to become profitable in the next 3 years.

Revenue vs Market: M0Y's revenue (43.1% per year) is forecast to grow faster than the German market (4.8% per year).

High Growth Revenue: M0Y's revenue (43.1% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: M0Y's Return on Equity is forecast to be very high in 3 years time (110.7%).


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Past Performance

How has Mynaric performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-48.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: M0Y is currently unprofitable.

Growing Profit Margin: M0Y is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: M0Y is unprofitable, and losses have increased over the past 5 years at a rate of 48.6% per year.

Accelerating Growth: Unable to compare M0Y's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: M0Y is unprofitable, making it difficult to compare its past year earnings growth to the Aerospace & Defense industry (11.8%).


Return on Equity

High ROE: M0Y has a negative Return on Equity (-53.56%), as it is currently unprofitable.


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Financial Health

How is Mynaric's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: M0Y's short term assets (€62.1M) exceed its short term liabilities (€13.7M).

Long Term Liabilities: M0Y's short term assets (€62.1M) exceed its long term liabilities (€9.4M).


Debt to Equity History and Analysis

Debt Level: M0Y is debt free.

Reducing Debt: M0Y has not had any debt for past 5 years.


Balance Sheet


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: M0Y has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if M0Y has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


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Dividend

What is Mynaric current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate M0Y's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate M0Y's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if M0Y's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if M0Y's dividend payments have been increasing.


Earnings Payout to Shareholders

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


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as M0Y has not reported any payouts.


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Management

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

2.3yrs

Average management tenure


CEO

Emin Altan (44 yo)

3.42yrs

Tenure

€1,497,000

Compensation

Mr. Emin Bulent Altan has been Chief Executive Officer of Mynaric AG since March 2019 and has been its Chairman of the Management Board. Mr. Altan served as Member of Management Board at Mynaric AG since M...


CEO Compensation Analysis

Compensation vs Market: Emin's total compensation ($USD1.52M) is above average for companies of similar size in the German market ($USD805.70K).

Compensation vs Earnings: Emin's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: M0Y's management team is considered experienced (2.3 years average tenure).


Board Members

Experienced Board: M0Y's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.


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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 38.1%.


Top Shareholders

Company Information

Mynaric AG's employee growth, exchange listings and data sources


Key Information

  • Name: Mynaric AG
  • Ticker: M0Y
  • Exchange: XTRA
  • Founded: 2009
  • Industry: Aerospace and Defense
  • Sector: Capital Goods
  • Implied Market Cap: €189.633m
  • Shares outstanding: 5.65m
  • Website: https://www.mynaric.com

Number of Employees


Location

  • Mynaric AG
  • Dornierstrasse 19
  • Gilching
  • Bavaria
  • 82205
  • Germany

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/15 00:00
End of Day Share Price2022/08/15 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


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.