XTRA:M4N

Stock Analysis Report

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Market Cap

€67.4m

Last Updated

2021/08/03 20:58 UTC

Data Sources

Company Financials +

Executive Summary

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


Snowflake Analysis

Excellent balance sheet and good value.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: M4N is not significantly more volatile than the rest 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.


Market Performance


7 Day Return

16.0%

M4N

1.4%

DE Construction

0.8%

DE Market


1 Year Return

48.7%

M4N

8.9%

DE Construction

27.3%

DE Market

Return vs Industry: M4N exceeded the German Construction industry which returned 8.3% over the past year.

Return vs Market: M4N exceeded the German Market which returned 27.4% over the past year.


Shareholder returns

M4NIndustryMarket
7 Day16.0%1.4%0.8%
30 Day16.8%2.4%0.2%
90 Day28.9%-10.5%3.4%
1 Year55.3%48.7%14.9%8.9%31.3%27.3%
3 Year27.2%17.6%-39.4%-49.3%29.4%18.6%
5 Year108.7%83.2%-20.0%-35.3%50.8%29.9%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: M4N (€3.48) is trading below our estimate of fair value (€7.05)

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 (30.8x) compared to the European Construction industry average (14.5x).

PE vs Market: M4N is poor value based on its PE Ratio (30.8x) compared to the German market (25.5x).


Price to Earnings Growth Ratio

PEG Ratio: M4N is good value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: M4N is good value based on its PB Ratio (1x) compared to the XE Construction industry average (1.4x).


Future Growth

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

32.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: M4N's forecast earnings growth (32.1% per year) is above the savings rate (0.01%).

Earnings vs Market: M4N's earnings (32.1% per year) are forecast to grow faster than the German market (12.9% per year).

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

Revenue vs Market: M4N's revenue (2.8% per year) is forecast to grow slower than the German market (5.9% per year).

High Growth Revenue: M4N's revenue (2.8% per year) is forecast to grow slower than 20% 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 (7.3%).


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 (4.5%).


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 (36.8%) is considered satisfactory.

Reducing Debt: M4N's debt to equity ratio has reduced from 46% to 36.8% 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?

3.45%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: M4N's dividend (3.45%) is higher than the bottom 25% of dividend payers in the German market (0.97%).

High Dividend: M4N's dividend (3.45%) is in the top 25% of dividend payers in the German market (3.23%)


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 well covered by earnings (43.6% 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)

10.25yrs

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 (6.7 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 company bio, 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: €67.443m
  • Shares outstanding: 19.38m
  • Website: https://www.muehlhan.com

Number of Employees


Location

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

Listings


Biography

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 s...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/08/03 20:58
End of Day Share Price2021/08/03 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.