DB:CRLN

Stock Analysis Report

Cicor Technologies

Executive Summary

Cicor Technologies Ltd. provides production and service for electronic components and systems worldwide.


Snowflake Analysis

Reasonable growth potential with adequate balance sheet.


Similar Companies

Share Price & News

How has Cicor Technologies's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

0%

CRLN

-1.9%

DE Electronic

-0.9%

DE Market


1 Year Return

9.7%

CRLN

8.5%

DE Electronic

12.8%

DE Market

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

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


Shareholder returns

CRLNIndustryMarket
7 Day0%-1.9%-0.9%
30 Day0%8.2%-0.4%
90 Day-0.9%8.8%2.3%
1 Year11.7%9.7%10.9%8.5%16.3%12.8%
3 Year123.7%117.1%49.7%44.8%15.8%5.7%
5 Year66.0%59.4%114.5%99.2%19.7%3.3%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Cicor Technologies undervalued compared to its fair value and its price relative to the market?

16.25x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CRLN (€48.6) is trading above our estimate of fair value (€16.63)

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


Price To Earnings Ratio

PE vs Industry: CRLN is good value based on its PE Ratio (16.3x) compared to the Electronic industry average (27.1x).

PE vs Market: CRLN is good value based on its PE Ratio (16.3x) compared to the German market (20.6x).


Price to Earnings Growth Ratio

PEG Ratio: CRLN is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: CRLN is overvalued based on its PB Ratio (1.9x) compared to the DE Electronic industry average (1.8x).


Next Steps

Future Growth

How is Cicor Technologies forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

27.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CRLN's forecast earnings growth (27.3% per year) is above the savings rate (0.2%).

Earnings vs Market: CRLN's earnings (27.3% 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: CRLN's revenue (5% per year) is forecast to grow faster than the German market (4.8% per year).

High Growth Revenue: CRLN's revenue (5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CRLN's Return on Equity is forecast to be low in 3 years time (13%).


Next Steps

Past Performance

How has Cicor Technologies performed over the past 5 years?

23.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CRLN has high quality earnings.

Growing Profit Margin: CRLN's current net profit margins (3.4%) are lower than last year (3.9%).


Past Earnings Growth Analysis

Earnings Trend: CRLN's earnings have grown significantly by 23.5% per year over the past 5 years.

Accelerating Growth: CRLN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CRLN had negative earnings growth (-2.4%) over the past year, making it difficult to compare to the Electronic industry average (3.1%).


Return on Equity

High ROE: CRLN's Return on Equity (11.7%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Cicor Technologies's financial position?


Financial Position Analysis

Short Term Liabilities: CRLN's short term assets (CHF127.6M) exceed its short term liabilities (CHF55.2M).

Long Term Liabilities: CRLN's short term assets (CHF127.6M) exceed its long term liabilities (CHF56.4M).


Debt to Equity History and Analysis

Debt Level: CRLN's debt to equity ratio (73%) is considered high.

Reducing Debt: CRLN's debt to equity ratio has increased from 33.7% to 73% over the past 5 years.

Debt Coverage: CRLN's debt is well covered by operating cash flow (21.5%).

Interest Coverage: CRLN's interest payments on its debt are well covered by EBIT (8.4x coverage).


Balance Sheet

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

Debt Coverage by Assets: CRLN's debt is covered by short term assets (assets are 2.3x debt).


Next Steps

Dividend

What is Cicor Technologies's current dividend yield, its reliability and sustainability?

2.03%

Current Dividend Yield


Dividend Yield vs Market

company2.0%marketbottom25%1.3%markettop25%3.6%industryaverage1.2%forecastin3Years2.6%

Current dividend yield vs market & industry

Notable Dividend: CRLN's dividend (2.03%) is higher than the bottom 25% of dividend payers in the German market (1.38%).

High Dividend: CRLN's dividend (2.03%) is low compared to the top 25% of dividend payers in the German market (3.53%).


Stability and Growth of Payments

Stable Dividend: CRLN has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: CRLN's dividend payments have increased, but the company has only paid a dividend for 7 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (33%), CRLN's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CRLN's dividends in 3 years are forecast to be well covered by earnings (36% payout ratio).


Next Steps

Management

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

4.4yrs

Average board tenure


CEO

Alexander Hagemann (57yo)

3yrs

Tenure

CHF935,000

Compensation

Mr. Alexander Hagemann has been Chief Executive Officer at Cicor Technologies Ltd. since September 2016. Mr. Hagemann served as the Chief Executive Officer of Schaffner Holding AG since March 1, 2007 until ...


CEO Compensation Analysis

Compensation vs Market: Alexander's total compensation ($USD946.68K) is above average for companies of similar size in the German market ($USD425.50K).

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


Board Members

NamePositionTenureCompensationOwnership
Robert Demuth
Vice Chairman0yrsCHF58.00k0.18% CHF232.5k
Heinrich Essing
Chairman4.4yrsCHF73.00k0.31% CHF408.3k
Andreas Dill
Independent Director10.7yrsCHF49.00k0.034% CHF45.4k
Erich Haefeli
Director4.4yrsCHF47.00kno data

4.4yrs

Average Tenure

69.5yo

Average Age

Experienced Board: CRLN's board of directors are considered experienced (4.4 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

Cicor Technologies Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Cicor Technologies Ltd.
  • Ticker: CRLN
  • Exchange: DB
  • Founded:
  • Industry: Electronic Manufacturing Services
  • Sector: Tech
  • Market Cap: CHF142.925m
  • Listing Market Cap: CHF131.528m
  • Shares outstanding: 2.90m
  • Website: https://www.cicor.com

Number of Employees


Location

  • Cicor Technologies Ltd.
  • Route de l’Europe 8
  • Boudry
  • Neuchâtel
  • 2017
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CICNSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFApr 1998
CRLNDB (Deutsche Boerse AG)YesRegistered SharesDEEURApr 1998
0QPRLSE (London Stock Exchange)YesRegistered SharesGBCHFApr 1998

Biography

Cicor Technologies Ltd. provides production and service for electronic components and systems worldwide. The company operates through two segments, Advanced Microelectronics & Substrates, and Electronic Solutions. It also manufactures and processes rigid, flexible, and rigid-flexible printed circuit boards; and substrates using thin- and thick-film. The company provides outsourcing solutions for the development and manufacture of electronic modules, component, and electronic products. Its outsourcing solutions comprise production options for printed circuit board assembly, system assembly, box building, control cabinet construction, cable assembly, toolmaking, and injection molding. The company serves medical, industrial, watch and consumer, communication, automotive and transport, and aerospace and defense markets. Cicor Technologies Ltd. is headquartered in Boudry, Switzerland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/25 20:59
End of Day Share Price2019/06/28 00:00
Earnings2019/06/30
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.