M4N

MuehlhanXTRA:M4N Stock Report

Market Cap

€69.8m

7D

-3.7%

1Y

36.6%

Updated

23 Sep, 2021

Data

Company Financials +
M4N fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance2/6
Financial Health4/6
Dividends3/6

M4N Overview

Muehlhan AG, together with its subsidiaries, provides surface protection and industrial services worldwide.

Price History & Performance

Summary of all time highs, changes and price drops for Muehlhan
Historical stock prices
Current Share Price€3.66
52 Week High€2.30
52 Week Low€4.00
Beta0.70
1 Month Change6.40%
3 Month Change22.00%
1 Year Change36.57%
3 Year Change21.60%
5 Year Change109.14%
Change since IPO-36.90%

Recent News & Updates

Shareholder Returns

M4NDE ConstructionDE Market
7D-3.7%-1.6%-1.0%
1Y36.6%11.9%25.7%

Return vs Industry: M4N exceeded the German Construction industry which returned 9.3% over the past year.

Return vs Market: M4N exceeded the German Market which returned 24.7% over the past year.

Price Volatility

Is M4N's price volatile compared to industry and market?
M4N volatility
M4N Beta0.70
Industry Beta1.5
Market Beta1

Stable Share Price: M4N is more volatile than 75% of German stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: M4N's weekly volatility (6%) has been stable over the past year, but is still higher than 75% of German stocks.

About the Company

FoundedEmployeesCEOWebsite
18812,750Stefan Müller-Arendshttps://www.muehlhan.com

Muehlhan AG, together with its subsidiaries, provides surface protection and industrial services worldwide. It operates through Ship, Oil & Gas, Renewables, and Industry/Infrastructure segments. The Ship segment offers a range of surface coating maintenance and renovation services, such as repair work on exterior walls, as well as the restoration of water, ballast, fuel, and cargo tanks to shipping companies and shipyards.

Muehlhan Fundamentals Summary

How do Muehlhan's earnings and revenue compare to its market cap?
M4N fundamental statistics
Market Cap€69.77m
Earnings (TTM)€2.18m
Revenue (TTM)€272.75m

32.5x

P/E Ratio

0.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
M4N income statement (TTM)
Revenue€272.75m
Cost of Revenue€97.38m
Gross Profit€175.37m
Expenses€173.18m
Earnings€2.18m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.11
Gross Margin64.30%
Net Profit Margin0.80%
Debt/Equity Ratio40.5%

How did M4N perform over the long term?

See historical performance and comparison

Dividends

3.3%

Current Dividend Yield

106%

Payout Ratio

Valuation

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

36.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: M4N (€3.6) is trading below our estimate of fair value (€5.79)

Significantly Below Fair Value: M4N is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: M4N is poor value based on its PE Ratio (32x) compared to the German Construction industry average (30.9x).

PE vs Market: M4N is poor value based on its PE Ratio (32x) compared to the German market (22.9x).


Price to Earnings Growth Ratio

PEG Ratio: M4N's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: M4N's PB Ratio (1.1x) is in line with the DE Construction industry average.


Future Growth

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

-15.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: M4N's earnings are forecast to decline over the next 3 years (-15.2% per year).

Earnings vs Market: M4N's earnings are forecast to decline over the next 3 years (-15.2% per year).

High Growth Earnings: M4N's earnings are forecast to decline over the next 3 years.

Revenue vs Market: M4N's revenue is expected to decline over the next 3 years (-1.2% per year).

High Growth Revenue: M4N's revenue is forecast to decline over the next 3 years (-1.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: M4N's Return on Equity is forecast to be low in 3 years time (5%).


Past Performance

How has Muehlhan performed over the past 5 years?

8.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: M4N has high quality earnings.

Growing Profit Margin: M4N's current net profit margins (0.8%) are lower than last year (1.4%).


Past Earnings Growth Analysis

Earnings Trend: M4N's earnings have grown by 8.8% per year over the past 5 years.

Accelerating Growth: M4N's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: M4N had negative earnings growth (-44.5%) over the past year, making it difficult to compare to the Construction industry average (20.8%).


Return on Equity

High ROE: M4N's Return on Equity (5.4%) is considered low.


Financial Health

How is Muehlhan's financial position?


Financial Position Analysis

Short Term Liabilities: M4N's short term assets (€106.9M) exceed its short term liabilities (€73.9M).

Long Term Liabilities: M4N's short term assets (€106.9M) exceed its long term liabilities (€28.5M).


Debt to Equity History and Analysis

Debt Level: M4N's debt to equity ratio (40.5%) is considered high.

Reducing Debt: M4N's debt to equity ratio has reduced from 46% to 40.5% over the past 5 years.

Debt Coverage: M4N's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: M4N's interest payments on its debt are well covered by EBIT (3.7x coverage).


Balance Sheet


Dividend

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

3.28%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: M4N's dividend (3.33%) is higher than the bottom 25% of dividend payers in the German market (1%).

High Dividend: M4N's dividend (3.33%) is in the top 25% of dividend payers in the German market (3.17%)


Stability and Growth of Payments

Stable Dividend: M4N has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: M4N's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (106%), M4N's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: M4N's dividends in 3 years are forecast to be covered by earnings (55.8% payout ratio).


Next Steps

Management

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

10.3yrs

Average management tenure


CEO

Stefan Müller-Arends (62 yo)

10.33yrs

Tenure

Mr. Stefan Müller-Arends has been the Chief Executive Officer of Muehlhan AG since May 1, 2011 and has been its Chairman and Director since May 1, 2011. Mr. Müller-Arends served as the Chief Executive Offi...


Leadership Team

Experienced Management: M4N's management team is seasoned and experienced (10.3 years average tenure).


Board Members

Experienced Board: M4N's board of directors are considered experienced (6.8 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

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


Key Information

  • Name: Muehlhan AG
  • Ticker: M4N
  • Exchange: XTRA
  • Founded: 1881
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Market Cap: €69.769m
  • Shares outstanding: 19.38m
  • Website: https://www.muehlhan.com

Number of Employees


Location

  • Muehlhan AG
  • Schlinckstrasse 3
  • Hamburg
  • Hamburg
  • 21107
  • Germany

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/23 17:51
End of Day Share Price2021/09/23 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.