DB:2DG

Stock Analysis Report

Sivers IMA Holding

Executive Summary

Sivers IMA Holding AB (publ), through its subsidiaries, develops, manufactures, and sells chips, components, modules, and subsystems based on semiconductor technology in microwave, millimeter wave, and optical semiconductors.


Snowflake Analysis

Limited growth with imperfect balance sheet.

Share Price & News

How has Sivers IMA Holding's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 2DG's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

1.8%

2DG

4.2%

DE Electronic

7.1%

DE Market


1 Year Return

-11.9%

2DG

-26.4%

DE Electronic

-17.5%

DE Market

Return vs Industry: 2DG exceeded the German Electronic industry which returned -23.9% over the past year.

Return vs Market: 2DG exceeded the German Market which returned -14.1% over the past year.


Shareholder returns

2DGIndustryMarket
7 Day1.8%4.2%7.1%
30 Day-35.3%-23.5%-20.0%
90 Day-23.5%-23.7%-26.1%
1 Year-11.9%-11.9%-24.9%-26.4%-15.0%-17.5%
3 Yearn/a-2.4%-5.6%-18.8%-25.8%
5 Yearn/a55.0%43.6%-17.9%-29.2%

Price Volatility Vs. Market

How volatile is Sivers IMA Holding's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Sivers IMA Holding undervalued compared to its fair value and its price relative to the market?

2.87x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate 2DG's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate 2DG's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: 2DG is unprofitable, so we can't compare its PE Ratio to the Electronic industry average.

PE vs Market: 2DG is unprofitable, so we can't compare its PE Ratio to the German market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 2DG's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 2DG is overvalued based on its PB Ratio (2.9x) compared to the DE Electronic industry average (1.2x).


Next Steps

Future Growth

How is Sivers IMA Holding forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

7.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2DG is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: 2DG is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: 2DG is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: 2DG's revenue (42.2% per year) is forecast to grow faster than the German market (4% per year).

High Growth Revenue: 2DG's revenue (42.2% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 2DG is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has Sivers IMA Holding performed over the past 5 years?

-42.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 2DG is currently unprofitable.

Growing Profit Margin: 2DG is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: 2DG is unprofitable, and losses have increased over the past 5 years at a rate of -42.6% per year.

Accelerating Growth: Unable to compare 2DG's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: 2DG is unprofitable, making it difficult to compare its past year earnings growth to the Electronic industry (-7.4%).


Return on Equity

High ROE: 2DG has a negative Return on Equity (-26.22%), as it is currently unprofitable.


Next Steps

Financial Health

How is Sivers IMA Holding's financial position?


Financial Position Analysis

Short Term Liabilities: 2DG's short term assets (SEK100.2M) do not cover its short term liabilities (SEK107.6M).

Long Term Liabilities: 2DG's short term assets (SEK100.2M) exceed its long term liabilities (SEK28.1M).


Debt to Equity History and Analysis

Debt Level: 2DG's debt to equity ratio (13.7%) is considered satisfactory.

Reducing Debt: 2DG's debt to equity ratio has increased from 10.5% to 13.7% over the past 5 years.


Balance Sheet

Inventory Level: 2DG has a low level of unsold assets or inventory.

Debt Coverage by Assets: 2DG's debt is covered by short term assets (assets are 2.5x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: 2DG has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: 2DG has less than a year of cash runway if free cash flow continues to reduce at historical rates of -37.3% each year


Next Steps

Dividend

What is Sivers IMA Holding's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 2DG's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 2DG'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 2DG's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 2DG'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 2DG'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?

3.6yrs

Average management tenure


CEO

Anders Storm (52yo)

3.58s

Tenure

Mr. Anders Storm has been Chief Operating Officer at Sivers IMA AB since February 2015. Mr. Storm has been Group Chief Executive Officer at Sivers IMA Holding AB(publ) and served as its Chief Operating Off ...


Leadership Team

NamePositionTenureCompensationOwnership
Anders Storm
Group Chief Executive Officer3.58yrsno data0.13% SEK99.8k
Robert Ejermark
Group Chief Financial Officer2.17yrsno data0.0073% SEK5.7k
Erik Wiklund
Vice President of Operations3.58yrsno datano data
Mats Carlsson
Chief Technology Officer4.17yrsno datano data
Patric Erlandsson
Vice President of Sales & Marketingno datano datano data

3.6yrs

Average Tenure

53yo

Average Age

Experienced Management: 2DG's management team is considered experienced (3.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Erik Fällström
Director3.17yrsno data17.12% SEK13.5m
Tomas Duffy
Chairman of the Boardno datakr390.00k0.73% SEK571.6k
Dag Sigurd
Director12.17yrsno data0.067% SEK52.5k
Ingrid Engström
Additional Director5yrsno data0.032% SEK25.2k
Björn Norrbom
Director21.17yrsno data0.76% SEK598.5k
Robert Green
Director3.17yrsno datano data

5.0yrs

Average Tenure

63yo

Average Age

Experienced Board: 2DG's board of directors are considered experienced (5 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 been diluted in the past year, with total shares outstanding growing by 6.3%.


Top Shareholders

Company Information

Sivers IMA Holding AB (publ)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Sivers IMA Holding AB (publ)
  • Ticker: 2DG
  • Exchange: DB
  • Founded: 1990
  • Industry: Electronic Components
  • Sector: Tech
  • Market Cap: kr866.904m
  • Listing Market Cap: kr78.655m
  • Shares outstanding: 137.60m
  • Website: https://www.siversima.com

Number of Employees


Location

  • Sivers IMA Holding AB (publ)
  • Torshamnsgatan 48
  • Kista
  • Stockholm County
  • 164 29
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SIVEOM (OMX Nordic Exchange Stockholm)YesShare CapitalSESEKJan 2013
2DGDB (Deutsche Boerse AG)YesShare CapitalDEEURJan 2013

Biography

Sivers IMA Holding AB (publ), through its subsidiaries, develops, manufactures, and sells chips, components, modules, and subsystems based on semiconductor technology in microwave, millimeter wave, and optical semiconductors. The company provides RFICs, RF-modules, transceivers, and customized products for multi-GBPS wireless transfer, fixed wireless access, small cell mm-wave backhaul, remote radio mm-wave front haul, point-to-point or multi-point radio, and measurement system applications. It also offers radar sensors and front-ends; and signal sources, as well as semiconductor laser products. Sivers IMA Holding AB has collaborated with NXP Semiconductors N.V to deliver 5G-NR (New Radio), such as gigabit fixed wireless access applications. It serves in North America, Europe, and Asia. The company was incorporated in 1990 and is headquartered in Kista, Sweden. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/28 23:57
End of Day Share Price2020/03/27 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.