XTRA:LPK

Stock Analysis Report

LPKF Laser & Electronics

Executive Summary

LPKF Laser & Electronics AG, together with its subsidiaries, designs and manufactures laser systems in Germany, Rest of Europe, North America, Asia, and internationally.


Snowflake Analysis

Flawless balance sheet with solid track record.


Similar Companies

Share Price & News

How has LPKF Laser & Electronics's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

3.9%

LPK

1.5%

DE Electronic

-0.6%

DE Market


1 Year Return

82.2%

LPK

-28.2%

DE Electronic

-20.9%

DE Market

Return vs Industry: LPK exceeded the German Electronic industry which returned -27.6% over the past year.

Return vs Market: LPK exceeded the German Market which returned -17.2% over the past year.


Shareholder returns

LPKIndustryMarket
7 Day3.9%1.5%-0.6%
30 Day-27.9%-17.4%-16.6%
90 Day2.2%-21.6%-26.0%
1 Year82.2%82.2%-26.8%-28.2%-18.6%-20.9%
3 Year78.4%78.4%-4.0%-7.1%-19.0%-25.8%
5 Year44.4%42.5%53.6%42.4%-21.1%-31.8%

Price Volatility Vs. Market

How volatile is LPKF Laser & Electronics's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is LPKF Laser & Electronics 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: LPK (€15.3) is trading below our estimate of fair value (€48.9)

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


Price To Earnings Ratio

PE vs Industry: LPK is poor value based on its PE Ratio (28.5x) compared to the Electronic industry average (18.2x).

PE vs Market: LPK is poor value based on its PE Ratio (28.5x) compared to the German market (16.8x).


Price to Earnings Growth Ratio

PEG Ratio: LPK is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: LPK is overvalued based on its PB Ratio (4.1x) compared to the DE Electronic industry average (1.2x).


Next Steps

Future Growth

How is LPKF Laser & Electronics forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

31.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: LPK's forecast earnings growth (31.5% per year) is above the savings rate (-0.4%).

Earnings vs Market: LPK's earnings (31.5% per year) are forecast to grow faster than the German market (14.5% per year).

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

Revenue vs Market: LPK's revenue (17.8% per year) is forecast to grow faster than the German market (4.1% per year).

High Growth Revenue: LPK's revenue (17.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: LPK's Return on Equity is forecast to be high in 3 years time (21.5%)


Next Steps

Past Performance

How has LPKF Laser & Electronics performed over the past 5 years?

37.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: LPK has high quality earnings.

Growing Profit Margin: LPK's current net profit margins (9.1%) are higher than last year (6.4%).


Past Earnings Growth Analysis

Earnings Trend: LPK's earnings have grown significantly by 37.6% per year over the past 5 years.

Accelerating Growth: LPK's earnings growth over the past year (63.5%) exceeds its 5-year average (37.6% per year).

Earnings vs Industry: LPK earnings growth over the past year (63.5%) exceeded the Electronic industry -7.4%.


Return on Equity

High ROE: LPK's Return on Equity (14.5%) is considered low.


Next Steps

Financial Health

How is LPKF Laser & Electronics's financial position?


Financial Position Analysis

Short Term Liabilities: LPK's short term assets (€63.9M) exceed its short term liabilities (€28.2M).

Long Term Liabilities: LPK's short term assets (€63.9M) exceed its long term liabilities (€8.9M).


Debt to Equity History and Analysis

Debt Level: LPK's debt to equity ratio (7.5%) is considered satisfactory.

Reducing Debt: LPK's debt to equity ratio has reduced from 52.9% to 7.5% over the past 5 years.

Debt Coverage: LPK's debt is well covered by operating cash flow (705.2%).

Interest Coverage: LPK's interest payments on its debt are well covered by EBIT (43.1x coverage).


Balance Sheet

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

Debt Coverage by Assets: LPK's debt is covered by short term assets (assets are 9.4x debt).


Next Steps

Dividend

What is LPKF Laser & Electronics's current dividend yield, its reliability and sustainability?

0.63%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: LPK's dividend (0.65%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.65%).

High Dividend: LPK's dividend (0.65%) is low compared to the top 25% of dividend payers in the German market (4.87%).


Stability and Growth of Payments

Stable Dividend: LPK is not paying a notable dividend for the German market, therefore no need to check if payments are stable.

Growing Dividend: LPK is not paying a notable dividend for the German market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: LPK is not paying a notable dividend for the German market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of LPK'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?

1.6yrs

Average management tenure


CEO

Götz Bendele (49yo)

1.92s

Tenure

€364,000

Compensation

Dr. Götz M. Bendele is the Chief Executive Officer at LPKF Laser & Electronics Aktiengesellschaft since May 1, 2018 and has been its Board Member since May 2018. Dr. Bendele has extensive sales and managem ...


CEO Compensation Analysis

Compensation vs Market: Götz's total compensation ($USD400.00K) is below average for companies of similar size in the German market ($USD1.12M).

Compensation vs Earnings: Insufficient data to compare Götz's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Götz Bendele
CEO & Member of Management Board1.92yrs€364.00kno data
Christian Witt
CFO & Member of the Management Board1.58yrs€264.00kno data
Kai Bentz
1.58yrs€511.00kno data
Bettina Schäfer
Manager of Investor Relationsno datano datano data
Michael Agater
Senior Vice President of Productionno datano datano data
Nils Heininger
Senior Vice Presidentno datano datano data
Jürgen Bergedieck
Managing Director of LPKF SolarQuipment GmbHno datano datano data
Markus Konig
Head of Operations and Development Divisions for Laser Plastic Welding Business Unit5.58yrsno datano data
Simon Reiser
Managing Director of LPKF - Fürth0.25yrno datano data
Stephan Schmidt
President of Lpkf Laser & Electronics Inc. USAno datano datano data

1.6yrs

Average Tenure

48yo

Average Age

Experienced Management: LPK's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Dirk Rothweiler
Deputy Chairman of the Supervisory Board0.83yrno datano data
Ludger Overmeyer
Member of the Supervisory Board0.83yrno datano data
Markus Peters
Chairman of the Supervisory Board2.5yrsno datano data

0.8yrs

Average Tenure

55yo

Average Age

Experienced Board: LPK's board of directors are not considered experienced ( 0.8 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 diluted in the past year, with total shares outstanding growing by 6.5%.


Top Shareholders

Company Information

LPKF Laser & Electronics AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: LPKF Laser & Electronics AG
  • Ticker: LPK
  • Exchange: XTRA
  • Founded: 1976
  • Industry: Electronic Equipment and Instruments
  • Sector: Tech
  • Market Cap: €391.780m
  • Shares outstanding: 24.49m
  • Website: https://www.lpkf.com

Number of Employees


Location

  • LPKF Laser & Electronics AG
  • Osteriede 7
  • Garbsen
  • Lower Saxony
  • 30827
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
LPKDB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 1998
LPKXTRA (XETRA Trading Platform)YesOrdinary SharesDEEURNov 1998
0ND2LSE (London Stock Exchange)YesOrdinary SharesGBEURNov 1998
LPKF.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDNov 1998
LPKDBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURNov 1998
LPKSWX (SIX Swiss Exchange)YesOrdinary SharesCHCHFNov 1998
LPKETLX (Eurotlx)YesOrdinary SharesITEURNov 1998

Biography

LPKF Laser & Electronics AG, together with its subsidiaries, designs and manufactures laser systems in Germany, Rest of Europe, North America, Asia, and internationally. The company operates through four segments: Development, Electronics, Welding, and Solar. The Development segment offers circuit board plotters and ProtoLasers primarily for electronics developers. The Electronics segment provides production systems for cutting print stencils, rigid and flexible circuit boards, ultra-thin glass, and the etching of plastic circuit carriers. The Welding segment offers systems for laser beam welding of plastic components. The Solar segment develops and produces laser scribers for the etching of thin- film solar cells and laser systems for the digital printing of functional pastes and inks. Its products are used in the electronics industry, automotive parts suppliers, solar industry, the semi-conductor industry, medical technology, research institutions, and universities. The company was founded in 1976 and is headquartered in Garbsen, Germany. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/05 21:09
End of Day Share Price2020/04/03 00:00
Earnings2019/12/31
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.