XTRA:MSAG

Stock Analysis Report

Executive Summary

MS Industrie AG primarily operates in the powertrain and ultrasonic technology businesses in Germany and internationally.


Snowflake Analysis

Undervalued with solid track record.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-1.6%

MSAG

4.1%

DE Machinery

4.3%

DE Market


1 Year Return

-60.7%

MSAG

-28.3%

DE Machinery

-14.2%

DE Market

Return vs Industry: MSAG underperformed the German Machinery industry which returned -29.9% over the past year.

Return vs Market: MSAG underperformed the German Market which returned -16.6% over the past year.


Shareholder returns

MSAGIndustryMarket
7 Day-1.6%4.1%4.3%
30 Day-16.3%-9.0%-9.0%
90 Day-36.9%-25.8%-21.6%
1 Year-59.4%-60.7%-26.1%-28.3%-11.7%-14.2%
3 Year-49.4%-51.4%-38.7%-43.1%-12.3%-19.6%
5 Year-65.3%-66.8%-26.3%-34.6%-14.0%-25.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is MS Industrie 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: MSAG (€1.23) is trading below our estimate of fair value (€3.17)

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


Price To Earnings Ratio

PE vs Industry: MSAG is good value based on its PE Ratio (1.6x) compared to the Machinery industry average (10.6x).

PE vs Market: MSAG is good value based on its PE Ratio (1.6x) compared to the German market (16.8x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: MSAG is good value based on its PB Ratio (0.5x) compared to the DE Machinery industry average (1.1x).


Next Steps

Future Growth

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

-55.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MSAG's earnings are forecast to decline over the next 3 years (-55.6% per year).

Earnings vs Market: MSAG's earnings are forecast to decline over the next 3 years (-55.6% per year).

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

Revenue vs Market: MSAG's revenue (0.9% per year) is forecast to grow slower than the German market (3.9% per year).

High Growth Revenue: MSAG's revenue (0.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MSAG's Return on Equity is forecast to be low in 3 years time (4.7%).


Next Steps

Past Performance

How has MS Industrie performed over the past 5 years?

35.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MSAG has a high level of non-cash earnings.

Growing Profit Margin: MSAG's current net profit margins (8.9%) are higher than last year (3.1%).


Past Earnings Growth Analysis

Earnings Trend: MSAG's earnings have grown significantly by 35.4% per year over the past 5 years.

Accelerating Growth: MSAG's earnings growth over the past year (188.7%) exceeds its 5-year average (35.4% per year).

Earnings vs Industry: MSAG earnings growth over the past year (188.7%) exceeded the Machinery industry -19.9%.


Return on Equity

High ROE: MSAG's Return on Equity (29.5%) is considered high.


Next Steps

Financial Health

How is MS Industrie's financial position?


Financial Position Analysis

Short Term Liabilities: MSAG's short term assets (€112.1M) exceed its short term liabilities (€76.3M).

Long Term Liabilities: MSAG's short term assets (€112.1M) exceed its long term liabilities (€59.2M).


Debt to Equity History and Analysis

Debt Level: MSAG's debt to equity ratio (71.8%) is considered high.

Reducing Debt: MSAG's debt to equity ratio has reduced from 119.3% to 71.8% over the past 5 years.

Debt Coverage: MSAG's debt is not well covered by operating cash flow (7.2%).

Interest Coverage: MSAG's interest payments on its debt are not well covered by EBIT (2.8x coverage).


Balance Sheet


Next Steps

Dividend

What is MS Industrie's current dividend yield, its reliability and sustainability?

2.44%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MSAG's dividend (2.44%) is higher than the bottom 25% of dividend payers in the German market (1.67%).

High Dividend: MSAG's dividend (2.44%) is low compared to the top 25% of dividend payers in the German market (4.71%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, MSAG has been paying a dividend for less than 10 years.

Growing Dividend: MSAG has only been paying a dividend for 2 years, and since then payments have not increased.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (3.8%), MSAG's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MSAG's dividends in 3 years are forecast to be well covered by earnings (38.5% payout ratio).


Next Steps

Management

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

€579k

CEO Compensation


CEO

Andreas von Aufschnaiter (57yo)

no data

Tenure

€579,000

Compensation

Dr. Andreas von Aufschnaiter, Ph.D., serves as a Management Consultant at Weserbank GmbH. He is the Co-founder of MS Industrie AG and serves as its Chairman of Management Board and Director of Finances, IR ...


CEO Compensation Analysis

Compensation vs Market: Andreas's total compensation ($USD0.00) is below average for companies of similar size in the German market ($USD421.37K).

Compensation vs Earnings: Andreas's compensation has increased by more than 20% in the past year.


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

MS Industrie AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: MS Industrie AG
  • Ticker: MSAG
  • Exchange: XTRA
  • Founded: 1991
  • Industry: Construction Machinery and Heavy Trucks
  • Sector: Capital Goods
  • Market Cap: €33.498m
  • Shares outstanding: 29.91m
  • Website: https://www.ms-industrie.de

Number of Employees


Location

  • MS Industrie AG
  • Brienner Strasse 7
  • Munich
  • Bavaria
  • 80333
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MSAGDB (Deutsche Boerse AG)YesBearer Common SharesDEEURMay 2001
MSAGXTRA (XETRA Trading Platform)YesBearer Common SharesDEEURMay 2001
0N2BLSE (London Stock Exchange)YesBearer Common SharesGBEURMay 2001
MSAGdBATS-CHIXE (BATS 'Chi-X Europe')YesBearer Common SharesGBEURMay 2001

Biography

MS Industrie AG primarily operates in the powertrain and ultrasonic technology businesses in Germany and internationally. It designs, develops, and manufactures automotive components and systems for heavy-duty combustion engines; and manufactures customized electric motors, as well as related products. The company also offers special machines for integrated processing of plastic parts, such as fenders, door panels, instrument panels, and engine and luggage compartment covers for the automotive industry; and ultrasonic components comprising generators or sonotrodes, ultrasonic systems, and standard machines for welding, sealing, cutting, and punching of films, papers, tissues, nonwovens, and filter materials under the MS soniWORLD name. In addition, it provides corporate finance, controlling and reporting, risk management, corporate governance, and transaction advisory services, as well as acquires, manages, and leases properties. The company serves customers in commercial vehicle and passenger car, packaging machine, and general mechanical and plant engineering industries. The company was formerly known as GCI Industrie AG and changed its name to MS Industrie AG in July 2012. MS Industrie AG was founded in 1991 and is headquartered in Munich, Germany. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/07 21:26
End of Day Share Price2020/04/07 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.