DB:ML2

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Ming Le Sports AG engages in the research, development, manufacture, marketing, and distribution of footwear, clothing, accessories, and equipment. More Details


Snowflake Analysis

Flawless balance sheet and slightly overvalued.


Similar Companies

Share Price & News

How has Ming Le Sports's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ML2 is more volatile than 90% of German stocks over the past 3 months, typically moving +/- 34% a week.

Volatility Over Time: ML2's weekly volatility has increased from 21% to 34% over the past year.


Market Performance


7 Day Return

202.5%

ML2

-4.5%

DE Luxury

1.1%

DE Market


1 Year Return

188.0%

ML2

24.7%

DE Luxury

33.9%

DE Market

Return vs Industry: ML2 exceeded the German Luxury industry which returned 14% over the past year.

Return vs Market: ML2 exceeded the German Market which returned 21.4% over the past year.


Shareholder returns

ML2IndustryMarket
7 Day202.5%-4.5%1.1%
30 Day176.9%0.9%0.7%
90 Day125.0%0.03%8.8%
1 Year188.0%188.0%24.7%24.7%38.0%33.9%
3 Year40.3%-34.5%63.7%58.0%17.1%6.9%
5 Year-20.0%-64.4%173.2%153.9%46.8%26.0%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Ming Le Sports undervalued compared to its fair value and its price relative to the market?

18.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ML2 (€3.6) is trading below our estimate of fair value (€4.42)

Significantly Below Fair Value: ML2 is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: ML2 is good value based on its PE Ratio (73.5x) compared to the DE Luxury industry average (131x).

PE vs Market: ML2 is poor value based on its PE Ratio (73.5x) compared to the German market (25.4x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate ML2's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: ML2 is overvalued based on its PB Ratio (5.3x) compared to the DE Luxury industry average (2.9x).


Next Steps

Future Growth

How is Ming Le Sports forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

34.1%

Forecasted Consumer Durables industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Ming Le Sports has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Ming Le Sports performed over the past 5 years?

-5.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ML2 has a large one-off gain of €387.7K impacting its June 30 2020 financial results.

Growing Profit Margin: ML2 became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: ML2 has become profitable over the past 5 years, growing earnings by -5.7% per year.

Accelerating Growth: ML2 has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: ML2 has become profitable in the last year, making it difficult to compare its past year earnings growth to the Luxury industry (-31%).


Return on Equity

High ROE: ML2's Return on Equity (7.2%) is considered low.


Next Steps

Financial Health

How is Ming Le Sports's financial position?


Financial Position Analysis

Short Term Liabilities: ML2's short term assets (€2.2M) exceed its short term liabilities (€74.4K).

Long Term Liabilities: ML2 has no long term liabilities.


Debt to Equity History and Analysis

Debt Level: ML2 is debt free.

Reducing Debt: ML2 had no debt 5 years ago.

Debt Coverage: ML2 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: ML2 has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Ming Le Sports's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate ML2's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate ML2'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 ML2's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ML2's dividend payments have been increasing.


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ML2's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

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

9.4yrs

Average management tenure


CEO

Siliang Ding (53 yo)

no data

Tenure

€14,000

Compensation

Mr. Siliang Ding serves as the Chairman of the Management Board and Chief Executive Officer of Ming Le Sports AG and has been its Member of the Management Board since October 2011. Mr. Ding is the Founder ...


Leadership Team

NamePositionTenureCompensationOwnership
Hansjoerg Plaggemars
Member of Management Board2.17yrsno datano data
Siliang Ding
Chairman of the Management Board and Chief Executive Officerno data€14.00kno data
Kiat Tan Chun
Chief Financial Officer and Member of The Management Board10.58yrs€32.00kno data
Shoutan Gou
Chief Sales & Marketing Officer and Member of the Management Board9.42yrs€14.00kno data

9.4yrs

Average Tenure

49.5yo

Average Age

Experienced Management: ML2's management team is seasoned and experienced (9.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Rolf Birkert
Chairman of Supervisory Board2.17yrsno datano data
Rainer Herschlein
Member of Supervisory Board2.17yrsno datano data
Uwe Pirl
Deputy Chairman of Supervisory Board2.17yrsno datano data

2.2yrs

Average Tenure

Experienced Board: ML2's board of directors are not considered experienced ( 2.2 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.


Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 400%.


Top Shareholders

Company Information

Ming Le Sports AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Ming Le Sports AG
  • Ticker: ML2
  • Exchange: DB
  • Founded: 2011
  • Industry: Apparel, Accessories and Luxury Goods
  • Sector: Consumer Durables
  • Market Cap: €11.080m
  • Shares outstanding: 3.08m
  • Website: https://www.minglesports.de

Number of Employees


Location

  • Ming Le Sports AG
  • Ziegelhäuser Landstrasse 1
  • Heidelberg
  • Baden-Württemberg
  • 69120
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ML2DB (Deutsche Boerse AG)YesOrdinary Bearer SharesDEEURJul 2012

Biography

Ming Le Sports AG engages in the research, development, manufacture, marketing, and distribution of footwear, clothing, accessories, and equipment. The company was founded in 2011 and is based in Heidelber...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/08 18:45
End of Day Share Price2021/03/05 00:00
Earnings2020/06/30
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.