BST:22F

Stock Analysis Report

Firan Technology Group

Executive Summary

Firan Technology Group Corporation manufactures and sells printed circuit boards, illuminated cockpit display panels, and keyboards in Canada, the United States, Asia, Europe, and internationally.


Snowflake Analysis

Very undervalued with flawless balance sheet.

Share Price & News

How has Firan Technology Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 22F's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0.9%

22F

1.7%

DE Electronic

-0.6%

DE Market


1 Year Return

-45.3%

22F

-28.3%

DE Electronic

-20.9%

DE Market

Return vs Industry: 22F underperformed the German Electronic industry which returned -28.3% over the past year.

Return vs Market: 22F underperformed the German Market which returned -20.9% over the past year.


Shareholder returns

22FIndustryMarket
7 Day0.9%1.7%-0.6%
30 Day-39.4%-19.1%-18.6%
90 Day-57.3%-23.2%-26.2%
1 Year-45.3%-45.3%-26.8%-28.3%-18.6%-20.9%
3 Year-53.3%-53.3%-4.0%-7.1%-19.0%-25.8%
5 Yearn/a53.5%42.4%-21.2%-31.8%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Firan Technology Group 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: 22F (€1.17) is trading below our estimate of fair value (€5.68)

Significantly Below Fair Value: 22F is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 22F is good value based on its PE Ratio (7.5x) compared to the Electronic industry average (18.7x).

PE vs Market: 22F is good value based on its PE Ratio (7.5x) compared to the German market (16.6x).


Price to Earnings Growth Ratio

PEG Ratio: 22F is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: 22F is good value based on its PB Ratio (1x) compared to the DE Electronic industry average (1.2x).


Next Steps

Future Growth

How is Firan Technology Group forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

9.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 22F's forecast earnings growth (9.1% per year) is above the savings rate (-0.4%).

Earnings vs Market: 22F's earnings (9.1% per year) are forecast to grow slower than the German market (14.1% per year).

High Growth Earnings: 22F's earnings are forecast to grow, but not significantly.

Revenue vs Market: 22F's revenue (3.2% per year) is forecast to grow slower than the German market (3.9% per year).

High Growth Revenue: 22F's revenue (3.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 22F's Return on Equity is forecast to be low in 3 years time (13.6%).


Next Steps

Past Performance

How has Firan Technology Group performed over the past 5 years?

-6.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 22F has high quality earnings.

Growing Profit Margin: 22F's current net profit margins (5.4%) are higher than last year (2.6%).


Past Earnings Growth Analysis

Earnings Trend: 22F's earnings have declined by -6.7% per year over the past 5 years.

Accelerating Growth: 22F's earnings growth over the past year (110.7%) exceeds its 5-year average (-6.7% per year).

Earnings vs Industry: 22F earnings growth over the past year (110.7%) exceeded the Electronic industry -7.4%.


Return on Equity

High ROE: 22F's Return on Equity (12.5%) is considered low.


Next Steps

Financial Health

How is Firan Technology Group's financial position?


Financial Position Analysis

Short Term Liabilities: 22F's short term assets (CA$52.9M) exceed its short term liabilities (CA$24.3M).

Long Term Liabilities: 22F's short term assets (CA$52.9M) exceed its long term liabilities (CA$1.3M).


Debt to Equity History and Analysis

Debt Level: 22F's debt to equity ratio (11.5%) is considered satisfactory.

Reducing Debt: 22F's debt to equity ratio has reduced from 37.7% to 11.5% over the past 5 years.

Debt Coverage: 22F's debt is well covered by operating cash flow (216.3%).

Interest Coverage: 22F's interest payments on its debt are well covered by EBIT (37.8x coverage).


Balance Sheet

Inventory Level: 22F has a high level of physical assets or inventory.

Debt Coverage by Assets: 22F's debt is covered by short term assets (assets are 9.6x debt).


Next Steps

Dividend

What is Firan Technology Group's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 22F's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 22F's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 22F's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 22F'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 22F'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?

6.5yrs

Average management tenure


CEO

Brad Bourne (60yo)

16.25s

Tenure

CA$439,789

Compensation

Mr. Bradley C. Bourne, also known as Brad, has been the Chief Executive Officer of Firan Technology Group Corporation (formerly Circuit World Corporation) since January 09, 2004 and has been its President  ...


CEO Compensation Analysis

Compensation vs Market: Brad's total compensation ($USD311.18K) is about average for companies of similar size in the German market ($USD434.26K).

Compensation vs Earnings: Brad's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Bradley Bourne
President16.25yrsCA$439.79k3.16% CA$945.2k
Hardeep Heer
VP of Engineering & CTO11yrsCA$244.79kno data
Jamie Crichton
CFO, VP & Corporate Secretary0.58yrno data0.026% CA$7.8k
Brandon Kuecker
President of FTG Aerospace Tianjin Inc.2yrsno datano data

6.5yrs

Average Tenure

Experienced Management: 22F's management team is seasoned and experienced (6.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Bradley Bourne
President16.25yrsCA$439.79k3.16% CA$945.2k
David Masotti
Independent Director16yrsCA$26.00k0.17% CA$50.4k
Edward Hanna
Independent Chairman of the Board16.83yrsCA$26.00k0.17% CA$50.4k
Robert Beutel
Independent Chairman5yrsCA$31.00k0.055% CA$16.3k
Michael Andrade
Independent Director3.75yrsCA$22.50k0.44% CA$131.8k

16.0yrs

Average Tenure

59yo

Average Age

Experienced Board: 22F's board of directors are seasoned and experienced ( 16 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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Firan Technology Group Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Firan Technology Group Corporation
  • Ticker: 22F
  • Exchange: BST
  • Founded: 1983
  • Industry: Electronic Manufacturing Services
  • Sector: Tech
  • Market Cap: CA$45.660m
  • Listing Market Cap: CA$29.946m
  • Shares outstanding: 22.72m
  • Website: https://www.ftgcorp.com

Number of Employees


Location

  • Firan Technology Group Corporation
  • 250 Finchdene Square
  • Toronto
  • Ontario
  • M1X 1A5
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FTGTSX (The Toronto Stock Exchange)YesCommon SharesCACADAug 2002
FTGF.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDAug 2002
22FBST (Boerse-Stuttgart)YesCommon SharesDEEURAug 2002

Biography

Firan Technology Group Corporation manufactures and sells printed circuit boards, illuminated cockpit display panels, and keyboards in Canada, the United States, Asia, Europe, and internationally. It operates in two segments, FTG Circuits (Circuits) and FTG Aerospace (Aerospace). The Circuits segment provides microvia technologies; buried capacitance, and blind and buried vias; multilayer boards; conducive filled vias; custom millings; cavity boards; metal core constructions; multiple sequential laminations; tented, filled, and flushed plugged vias; differential and controlled impedance products; and embedded filters and inductors, as well as mixed dielectric boards and back planes. It also provides design assistance and 3D modelling, controlled depth drilling, buried resistor layer, performance testing, and back drilling services, as well as engineering services for avionic, military, telecom, medical, advanced test and measurement, contract manufacturer, and power applications. The Aerospace segment provides panels, bezels, keyboards, caution warning annunciators, electro luminescent lamps, lighting power supplies, and electro mechanical subassemblies; and lighting technologies that are used in commercial aerospace and military applications. The company was formerly known as Circuit World Corporation and changed its name to Firan Technology Group Corporation in May 2004. Firan Technology Group Corporation was founded in 1983 and is headquartered in Toronto, Canada. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/05 01:58
End of Day Share Price2020/04/03 00:00
Earnings2019/11/30
Annual Earnings2019/11/30


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.