XTRA:EXC

Stock Analysis Report

Executive Summary

exceet Group SA, through its subsidiaries, engages in the electronic and secure connectivity activities in Germany, Switzerland, Europe, North America, South America, Asia, the Middle East, Australia, and Africa.


Snowflake Analysis

Flawless balance sheet with moderate growth potential.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

1.3%

EXC

-0.7%

DE Electronic

0.3%

DE Market


1 Year Return

-21.6%

EXC

5.4%

DE Electronic

13.8%

DE Market

Return vs Industry: EXC underperformed the German Electronic industry which returned 9.5% over the past year.

Return vs Market: EXC underperformed the German Market which returned 17.1% over the past year.


Shareholder returns

EXCIndustryMarket
7 Day1.3%-0.7%0.3%
30 Day0.8%2.8%1.3%
90 Day-29.6%2.8%5.2%
1 Year38.7%-21.6%7.9%5.4%17.4%13.8%
3 Year207.1%73.6%51.1%46.2%15.9%5.7%
5 Year62.4%-8.2%116.5%100.4%27.9%10.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

122.25x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: EXC (€4.82) is trading above our estimate of fair value (€1.92)

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


Price To Earnings Ratio

PE vs Industry: EXC is poor value based on its PE Ratio (121.2x) compared to the Electronic industry average (27.1x).

PE vs Market: EXC is poor value based on its PE Ratio (121.2x) compared to the German market (20.6x).


Price to Earnings Growth Ratio

PEG Ratio: EXC is poor value based on its PEG Ratio (4.6x)


Price to Book Ratio

PB vs Industry: EXC is good value based on its PB Ratio (0.7x) compared to the DE Electronic industry average (1.8x).


Next Steps

Future Growth

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

26.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: EXC's forecast earnings growth (26.6% per year) is above the savings rate (-0.4%).

Earnings vs Market: EXC's earnings (26.6% per year) are forecast to grow faster than the German market (13.2% per year).

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

Revenue vs Market: Insufficient data to determine if EXC's revenue is forecast to grow faster than the German market.

High Growth Revenue: Insufficient data to determine if EXC's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: EXC's Return on Equity is forecast to be low in 3 years time (2.8%).


Next Steps

Past Performance

How has exceet Group performed over the past 5 years?

-18.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: EXC has high quality earnings.

Growing Profit Margin: EXC became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: EXC's earnings have declined by -18.4% per year over the past 5 years.

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

Earnings vs Industry: EXC has become profitable in the last year, making it difficult to compare its past year earnings growth to the Electronic industry (3.1%).


Return on Equity

High ROE: EXC's Return on Equity (0.6%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is exceet Group's financial position?


Financial Position Analysis

Short Term Liabilities: EXC's short term assets (€125.2M) exceed its short term liabilities (€8.7M).

Long Term Liabilities: EXC's short term assets (€125.2M) exceed its long term liabilities (€10.8M).


Debt to Equity History and Analysis

Debt Level: EXC's debt to equity ratio (2.3%) is considered satisfactory.

Reducing Debt: EXC's debt to equity ratio has reduced from 33.3% to 2.3% over the past 5 years.

Debt Coverage: EXC's debt is well covered by operating cash flow (166.6%).

Interest Coverage: EXC's interest payments on its debt are well covered by EBIT (7.4x coverage).


Balance Sheet

Inventory Level: EXC has a low level of unsold assets or inventory.

Debt Coverage by Assets: EXC's debt is covered by short term assets (assets are 42.4x debt).


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.3%markettop25%3.6%industryaverage1.4%forecastin3Yearsn/a

Current dividend yield vs market & industry

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

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

Growing Dividend: Insufficient data to determine if EXC'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 EXC's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

What is the CEO of exceet Group's salary, the management and board of directors tenure and is there insider trading?

2.1yrs

Average board tenure


CEO

Wolf-Günter Freese (56yo)

3.8yrs

Tenure

0

Mr. Wolf-Günter Freese has been Chief Executive Officer of exceet Group SE since March 31, 2017 and has been its Chief Financial Officer since October 1, 2013. Mr. Freese has been Member of Management Boar ...


Board Age and Tenure

2.1yrs

Average Tenure

Experienced Board: EXC's board of directors are not considered experienced ( 2.1 years average tenure), which suggests a new board.


Insider Trading

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.


Management Team

  • Wolf-Günter Freese (56yo)

    CEO, CFO

    • Tenure: 3.8yrs
  • Fabian Rau

    Vice President of Marketing


    Board Members

    • Roland Lienau (57yo)

      Independent Director

      • Wolf-Günter Freese (56yo)

        CEO, CFO

        • Tenure: 3.8yrs
      • Jan Klopp

        Director

        • Tenure: 2.1yrs
      • Florian Schuhbauer

        Independent Director

        • Tenure: 2.1yrs
      • Klaus Röhrig

        Chairman of the Board

        • Tenure: 2.1yrs
      • Andreas Füchsel

        Representative Director

        Company Information

        exceet Group SA's company bio, employee growth, exchange listings and data sources


        Key Information

        • Name: exceet Group SA
        • Ticker: EXC
        • Exchange: XTRA
        • Founded: 2009
        • Industry: Electronic Components
        • Sector: Tech
        • Market Cap: €97.558m
        • Shares outstanding: 20.07m
        • Website: https://www.exceet.com

        Number of Employees


        Location

        • exceet Group SA
        • 17, rue de Flaxweiler
        • Grevenmacher
        • 6776
        • Luxembourg

        Listings

        TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
        EXCDB (Deutsche Boerse AG)YesClass A SharesDEEURFeb 2010
        EXCXTRA (XETRA Trading Platform)YesClass A SharesDEEURFeb 2010
        0MAULSE (London Stock Exchange)YesClass A SharesGBEURFeb 2010
        EXCDBATS-CHIXE (BATS 'Chi-X Europe')YesClass A SharesGBEURFeb 2010

        Biography

        exceet Group SA, through its subsidiaries, engages in the electronic and secure connectivity activities in Germany, Switzerland, Europe, North America, South America, Asia, the Middle East, Australia, and Africa. The company operates through two segments, Healthcare, and Software and IoT. The Healthcare segment focuses on development and production of miniature printed circuit boards for healthcare and medtech devices, such as hearing aids, cochlear implants, and other medtech implants. The Software and IoT segment focuses on securing connectivity in data critical IT environments, such as eHealth architectures and industrial Internet of Things solutions. It offers exceet connect, a product that enables secure communication between users and devices that guarantees against protection and manipulation of data, as well as provides eHealth, eSignature, and hardware security module related solutions. The company was incorporated in 2009 and is based in Grevenmacher, Luxembourg. exceet Group SA operates as a subsidiary of White Elephant S.à r.l. 


        Company Analysis and Financial Data Status

        All financial data provided by Standard & Poor's Capital IQ.
        DataLast Updated (UTC time)
        Company Analysis2020/01/26 21:38
        End of Day Share Price2020/01/24 00:00
        Earnings2019/09/30
        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.