DB:3PQA

Stock Analysis Report

Executive Summary

MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model.


Snowflake Analysis

Solid track record with excellent balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: 3PQA has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.3%

3PQA

-0.8%

DE Software

-0.9%

DE Market


1 Year Return

-21.4%

3PQA

33.2%

DE Software

12.8%

DE Market

Return vs Industry: 3PQA underperformed the German Software industry which returned 33.2% over the past year.

Return vs Market: 3PQA underperformed the German Market which returned 12.8% over the past year.


Shareholder returns

3PQAIndustryMarket
7 Day-2.3%-0.8%-0.9%
30 Day-3.1%2.3%0.6%
90 Day15.6%4.1%2.9%
1 Year-20.3%-21.4%35.0%33.2%16.3%12.8%
3 Year105.1%98.2%55.2%49.0%15.8%5.7%
5 Year176.5%152.6%124.2%108.3%19.7%3.3%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

17.84x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 3PQA (€12.6) is trading above our estimate of fair value (€8.05)

Significantly Below Fair Value: 3PQA is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 3PQA is good value based on its PE Ratio (17.8x) compared to the Software industry average (44.9x).

PE vs Market: 3PQA is good value based on its PE Ratio (17.8x) compared to the German market (20.8x).


Price to Earnings Growth Ratio

PEG Ratio: 3PQA is poor value based on its PEG Ratio (3.2x)


Price to Book Ratio

PB vs Industry: 3PQA is good value based on its PB Ratio (2.6x) compared to the DE Software industry average (3.2x).


Next Steps

Future Growth

How is MiX Telematics forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

5.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 3PQA's forecast earnings growth (5.6% per year) is above the savings rate (-0.4%).

Earnings vs Market: 3PQA's earnings (5.6% per year) are forecast to grow slower than the German market (13% per year).

High Growth Earnings: 3PQA's earnings are forecast to grow, but not significantly.

Revenue vs Market: 3PQA's revenue (5.9% per year) is forecast to grow faster than the German market (5.2% per year).

High Growth Revenue: 3PQA's revenue (5.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if 3PQA's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has MiX Telematics performed over the past 5 years?

8.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 3PQA has high quality earnings.

Growing Profit Margin: 3PQA's current net profit margins (12.3%) are higher than last year (9.9%).


Past Earnings Growth Analysis

Earnings Trend: 3PQA's earnings have grown by 8.2% per year over the past 5 years.

Accelerating Growth: 3PQA's earnings growth over the past year (36.7%) exceeds its 5-year average (8.2% per year).

Earnings vs Industry: 3PQA earnings growth over the past year (36.7%) exceeded the Software industry 14.6%.


Return on Equity

High ROE: 3PQA's Return on Equity (15%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is MiX Telematics's financial position?


Financial Position Analysis

Short Term Liabilities: 3PQA's short term assets (ZAR868.3M) exceed its short term liabilities (ZAR550.1M).

Long Term Liabilities: 3PQA's short term assets (ZAR868.3M) exceed its long term liabilities (ZAR246.6M).


Debt to Equity History and Analysis

Debt Level: 3PQA's debt to equity ratio (3.2%) is considered satisfactory.

Reducing Debt: 3PQA's debt to equity ratio has increased from 2.1% to 3.2% over the past 5 years.

Debt Coverage: 3PQA's debt is well covered by operating cash flow (855.8%).

Interest Coverage: 3PQA's interest payments on its debt are well covered by EBIT (391.2x coverage).


Balance Sheet

Inventory Level: 3PQA has a high level of physical assets or inventory.

Debt Coverage by Assets: 3PQA's debt is covered by short term assets (assets are 15.6x debt).


Next Steps

Dividend

What is MiX Telematics's current dividend yield, its reliability and sustainability?

1.93%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 3PQA's dividend (1.93%) is higher than the bottom 25% of dividend payers in the German market (1.31%).

High Dividend: 3PQA's dividend (1.93%) is low compared to the top 25% of dividend payers in the German market (3.63%).


Stability and Growth of Payments

Stable Dividend: 3PQA's dividend payments have been volatile in the past 10 years.

Growing Dividend: 3PQA's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (34.4%), 3PQA's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

3.1yrs

Average management tenure


CEO

Joss Joselowitz (60yo)

24.1yrs

Tenure

R16,659,000

Compensation

Mr. Stefan Brian Joselowitz, also known as Joss, serves as Chief Executive Officer and Director of MiX Telematics Europe Limited since 1996 and serves as its President. Mr. Joselowitz serves as Group Chief ...


CEO Compensation Analysis

Compensation vs Market: Joss's total compensation ($USD1.11M) is above average for companies of similar size in the German market ($USD802.74K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Stefan Joselowitz
President24.1yrsR16.66mno data
Charles Tasker
COO & Executive Director12.5yrsR12.92mno data
Catherine Lewis
Executive VP of Technology & MD of Central Services Organisation6.1yrsR5.78m0.30% ZAR829.5k
Gert Pretorius
Executive VP & MD of MiX Africa5.7yrsR6.89m0.13% ZAR352.2k
Paul Dell
Chief Financial Officer - Mix Americas0.6yrsR4.98m0.00018% ZAR505.5
John Granara
CFO, Executive VP & Director0.6yrsno datano data
Jennifer de Vos
Group Legal Counsel2.8yrsno datano data
Luiz Munhoz
Managing Director of Mix Brazil0yrsno datano data
Christoff Smit
Chief Operating Officer - North America3.1yrsno datano data
Brodie Berg
Managing Director - Mix MEA0.3yrsno datano data

3.1yrs

Average Tenure

50.5yo

Average Age

Experienced Management: 3PQA's management team is considered experienced (3.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Stefan Joselowitz
President24.1yrsR16.66mno data
Charles Tasker
COO & Executive Director12.5yrsR12.92mno data
John Granara
CFO, Executive VP & Director0.6yrsno datano data
S. Bruyns
Lead Independent Non-Executive Director3.3yrsR900.00k0.67% ZAR1.9m
Fundiswa Roji-Maplanka
Independent Non-Executive Director2.3yrsR600.00kno data
Robin Frew
Chairman of the Board3.3yrsR760.00k4.26% ZAR12.0m
Ian Jacobs
Independent Non-Executive Director3.7yrsR400.00k0.044% ZAR123.1k
Fikile Futwa
Independent Non-Executive Director1.6yrsR371.00kno data

3.3yrs

Average Tenure

52.5yo

Average Age

Experienced Board: 3PQA's board of directors are considered experienced (3.3 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

MiX Telematics Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: MiX Telematics Limited
  • Ticker: 3PQA
  • Exchange: DB
  • Founded: 1996
  • Industry: Application Software
  • Sector: Software
  • Market Cap: R4.565b
  • Listing Market Cap: R280.821m
  • Shares outstanding: 549.99m
  • Website: https://www.mixtelematics.co.za

Number of Employees


Location

  • MiX Telematics Limited
  • Matrix Corner
  • Howick Close
  • Midrand
  • Gauteng
  • 1686
  • South Africa

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MIXJSE (The Johannesburg Securities Exchange)YesOrdinary SharesZAZARNov 2007
MIXTNYSE (New York Stock Exchange)ADS EACH REPR 25 ORD SPONSUSUSDAug 2013
3PQADB (Deutsche Boerse AG)ADS EACH REPR 25 ORD SPONSDEEURAug 2013
MIXT NBMV (Bolsa Mexicana de Valores)ADS EACH REPR 25 ORD SPONSMXMXNAug 2013

Biography

MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model. The company offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; MiX Fleet Manager Essential for monitoring drivers and vehicles; and MiX Asset Manager, a solution for fleet owners and managers to track and monitor vehicles. It also provides consumer solutions, including Matrix that provides vehicle tracking, telematics, and personal safety services; and Beame, a wireless device, which offers vehicle tracking and recovery services. In addition, the company provides value added services comprising driver communication, collision prevention and reduction, satellite communication, track and react bureau, road driver management, driving monitoring, field services management, driver engagement, and driver identification solutions, as well as voice kits and keypads, and in-vehicle camera. MiX Telematics Limited has operations in Africa, the Americas, the Middle East, Australasia, Europe, and Brazil. The company was founded in 1996 and is based in Midrand, South Africa. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/23 22:47
End of Day Share Price2020/02/21 00:00
Earnings2019/12/31
Annual Earnings2019/03/31


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.