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Meiko Electronics

DB:MEC
Snowflake Description

Good value with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MEC
DB
¥60B
Market Cap
  1. Home
  2. DE
  3. Tech
Company description

Meiko Electronics Co., Ltd. engages in the design, manufacture, and sale of printed circuit boards (PCBs) and auxiliary electronics in Japan, rest of Asia, North America, Europe, and internationally. The last earnings update was 69 days ago. More info.


Add to Portfolio Compare Print
  • Meiko Electronics has significant price volatility in the past 3 months.
MEC Share Price and Events
7 Day Returns
9.8%
DB:MEC
1.7%
DE Electronic
1.5%
DE Market
1 Year Returns
23.4%
DB:MEC
-2%
DE Electronic
-6.2%
DE Market
MEC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Meiko Electronics (MEC) 9.8% 30.6% 19.8% 23.4% 628.2% 320.4%
DE Electronic 1.7% 8.1% 19.9% -2% 97.4% 104.1%
DE Market 1.5% 6% 8.5% -6.2% 10.7% 15.3%
1 Year Return vs Industry and Market
  • MEC outperformed the Electronic industry which returned -2% over the past year.
  • MEC outperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
MEC
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Meiko Electronics's competitors could be found in our database.

MEC Value

 Is Meiko Electronics undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Meiko Electronics to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Meiko Electronics.

DB:MEC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.3%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:MEC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.07
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.066 (1 + (1- 30.86%) (97.25%))
1.524
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.52
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.524 * 5.96%)
9.31%

Discounted Cash Flow Calculation for DB:MEC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Meiko Electronics is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:MEC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 9.31%)
2019 -3,217.00 Analyst x2 -2,942.96
2020 7,000.00 Analyst x1 5,858.19
2021 8,575.50 Analyst x2 6,565.35
2022 6,588.00 Analyst x1 4,614.07
2023 8,051.00 Analyst x1 5,158.38
2024 9,438.00 Analyst x1 5,531.93
2025 9,772.52 Est @ 3.54% 5,240.05
2026 10,021.66 Est @ 2.55% 4,915.88
2027 10,207.36 Est @ 1.85% 4,580.45
2028 10,346.74 Est @ 1.37% 4,247.48
Present value of next 10 years cash flows ¥43,768.83
DB:MEC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ¥10,346.74 × (1 + 0.23%) ÷ (9.31% – 0.23%)
¥114,162.30
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥114,162.30 ÷ (1 + 9.31%)10
¥46,865.17
DB:MEC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥43,768.83 + ¥46,865.17
¥90,634.00
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥90,634.00 / 26.17
¥3462.75
DB:MEC Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:MEC represents 0.00776x of JASDAQ:6787
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00776x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 3,462.75 x 0.00776
€26.86
Value per share (EUR) From above. €26.86
Current discount Discount to share price of €17.64
= -1 x (€17.64 - €26.86) / €26.86
34.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Meiko Electronics is available for.
Intrinsic value
34%
Share price is €17.64 vs Future cash flow value of €26.86
Current Discount Checks
For Meiko Electronics to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Meiko Electronics's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Meiko Electronics's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Meiko Electronics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Meiko Electronics's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:MEC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in JPY ¥286.16
JASDAQ:6787 Share Price ** JASDAQ (2019-04-23) in JPY ¥2275
Germany Electronic Industry PE Ratio Median Figure of 13 Publicly-Listed Electronic Companies 23.37x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.6x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Meiko Electronics.

DB:MEC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= JASDAQ:6787 Share Price ÷ EPS (both in JPY)

= 2275 ÷ 286.16

7.95x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Meiko Electronics is good value based on earnings compared to the DE Electronic industry average.
  • Meiko Electronics is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Meiko Electronics's expected growth come at a high price?
Raw Data
DB:MEC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.95x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
5.4%per year
Germany Electronic Industry PEG Ratio Median Figure of 12 Publicly-Listed Electronic Companies 2.1x
Germany Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

DB:MEC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.95x ÷ 5.4%

1.47x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Meiko Electronics is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Meiko Electronics's assets?
Raw Data
DB:MEC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in JPY ¥1,261.29
JASDAQ:6787 Share Price * JASDAQ (2019-04-23) in JPY ¥2275
Germany Electronic Industry PB Ratio Median Figure of 19 Publicly-Listed Electronic Companies 2.57x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.84x
DB:MEC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= JASDAQ:6787 Share Price ÷ Book Value per Share (both in JPY)

= 2275 ÷ 1,261.29

1.8x

* Primary Listing of Meiko Electronics.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Meiko Electronics is good value based on assets compared to the DE Electronic industry average.
X
Value checks
We assess Meiko Electronics's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electronic industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electronic industry average (and greater than 0)? (1 check)
  5. Meiko Electronics has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

MEC Future Performance

 How is Meiko Electronics expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Meiko Electronics expected to grow at an attractive rate?
  • Meiko Electronics's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Meiko Electronics's earnings growth is positive but not above the Germany market average.
  • Meiko Electronics's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:MEC Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:MEC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 5.4%
DB:MEC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 6.4%
Germany Electronic Industry Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Electronic Industry Revenue Growth Rate Market Cap Weighted Average 7.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:MEC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:MEC Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31
2023-03-31
2022-03-31
2021-03-31 136,500 16,000 8,626 3
2020-03-31 126,025 14,467 7,736 4
2019-03-31 119,665 13,400 7,719 4
DB:MEC Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2018-12-31 118,912 7,490
2018-09-30 117,088 10,570 7,565
2018-06-30 113,352 6,003
2018-03-31 108,542 10,429 4,197
2017-12-31 106,201 4,375
2017-09-30 103,382 14,918 3,938
2017-06-30 99,121 3,474
2017-03-31 95,911 11,612 1,417
2016-12-31 94,306 -858
2016-09-30 93,677 9,346 -1,761
2016-06-30 95,155 -3,465
2016-03-31 95,287 9,932 -11,250

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Meiko Electronics's earnings are expected to grow by 5.4% yearly, however this is not considered high growth (20% yearly).
  • Meiko Electronics's revenue is expected to grow by 6.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:MEC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Meiko Electronics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MEC Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31
2023-03-31
2022-03-31
2021-03-31 329.57 370.60 281.90 3.00
2020-03-31 295.57 324.80 266.10 4.00
2019-03-31 294.90 301.80 290.40 4.00
DB:MEC Past Financials Data
Date (Data in JPY Millions) EPS *
2018-12-31 286.16
2018-09-30 289.03
2018-06-30 229.35
2018-03-31 160.35
2017-12-31 167.15
2017-09-30 150.45
2017-06-30 132.73
2017-03-31 54.14
2016-12-31 -32.78
2016-09-30 -67.28
2016-06-30 -132.38
2016-03-31 -429.81

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Meiko Electronics is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Meiko Electronics's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Meiko Electronics has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

MEC Past Performance

  How has Meiko Electronics performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Meiko Electronics's growth in the last year to its industry (Electronic).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Meiko Electronics has delivered over 20% year on year earnings growth in the past 5 years.
  • Meiko Electronics's 1-year earnings growth exceeds its 5-year average (71.2% vs 44.3%)
  • Meiko Electronics's earnings growth has exceeded the DE Electronic industry average in the past year (71.2% vs 18.1%).
Earnings and Revenue History
Meiko Electronics's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Meiko Electronics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MEC Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 118,912.00 7,490.00 10,520.00 662.00
2018-09-30 117,088.00 7,565.00 10,662.00 662.00
2018-06-30 113,352.00 6,003.00 10,430.00 662.00
2018-03-31 108,542.00 4,197.00 10,307.00 662.00
2017-12-31 106,201.00 4,375.00 10,152.00 632.00
2017-09-30 103,382.00 3,938.00 10,030.00 632.00
2017-06-30 99,121.00 3,474.00 9,847.00 632.00
2017-03-31 95,911.00 1,417.00 9,665.00 632.00
2016-12-31 94,306.00 -858.00 9,389.00 712.00
2016-09-30 93,677.00 -1,761.00 9,060.00 712.00
2016-06-30 95,155.00 -3,465.00 9,032.00 712.00
2016-03-31 95,287.00 -11,250.00 9,148.00 712.00
2015-12-31 95,301.00 -19,989.00 9,579.00 800.00
2015-09-30 94,012.00 -19,127.00 9,855.00 800.00
2015-06-30 92,387.00 -17,528.00 9,979.00 800.00
2015-03-31 90,895.00 -9,573.00 9,897.00 800.00
2014-12-31 87,563.00 -235.00 9,558.00 895.00
2014-09-30 85,741.00 -705.00 9,248.00 895.00
2014-06-30 81,930.00 -1,850.00 8,874.00 895.00
2014-03-31 79,231.00 23.00 8,390.00 895.00
2013-12-31 74,763.00 1,524.00 7,990.00 928.00
2013-09-30 68,960.00 1,415.00 7,653.00 928.00
2013-06-30 64,824.00 -181.00 7,452.00 928.00
2013-03-31 60,709.00 -1,567.00 7,231.00 928.00
2012-12-31 59,776.00 -540.00 6,924.00 858.00
2012-09-30 60,125.00 -761.00 6,730.00 858.00
2012-06-30 62,003.00 569.00 6,647.00 858.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Meiko Electronics has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Meiko Electronics used its assets less efficiently than the DE Electronic industry average last year based on Return on Assets.
  • Meiko Electronics has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Meiko Electronics's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electronic industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Meiko Electronics has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

MEC Health

 How is Meiko Electronics's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Meiko Electronics's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Meiko Electronics is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Meiko Electronics's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Meiko Electronics's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Meiko Electronics Company Filings, last reported 3 months ago.

DB:MEC Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 33,013.00 57,906.00 14,876.00
2018-09-30 33,113.00 52,888.00 12,551.00
2018-06-30 29,921.00 52,565.00 12,982.00
2018-03-31 33,041.00 50,016.00 15,421.00
2017-12-31 33,223.00 46,534.00 13,598.00
2017-09-30 31,461.00 45,567.00 15,815.00
2017-06-30 29,156.00 47,981.00 16,931.00
2017-03-31 28,539.00 52,275.00 17,421.00
2016-12-31 28,208.00 52,332.00 18,177.00
2016-09-30 25,630.00 51,338.00 19,017.00
2016-06-30 24,943.00 53,338.00 20,393.00
2016-03-31 28,763.00 58,750.00 19,532.00
2015-12-31 26,214.00 60,538.00 14,857.00
2015-09-30 26,701.00 58,750.00 11,413.00
2015-06-30 29,382.00 63,034.00 13,316.00
2015-03-31 38,621.00 59,832.00 9,709.00
2014-12-31 49,750.00 62,115.00 11,756.00
2014-09-30 45,699.00 56,326.00 10,376.00
2014-06-30 42,757.00 52,843.00 12,235.00
2014-03-31 44,706.00 49,443.00 8,978.00
2013-12-31 45,921.00 57,549.00 15,431.00
2013-09-30 38,778.00 54,588.00 9,519.00
2013-06-30 39,031.00 51,713.00 9,086.00
2013-03-31 36,725.00 49,635.00 9,007.00
2012-12-31 33,610.00 50,002.00 7,528.00
2012-09-30 30,431.00 42,967.00 5,440.00
2012-06-30 33,047.00 44,522.00 7,958.00
  • Meiko Electronics's level of debt (175.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (125.2% vs 175.4% today).
  • Debt is not well covered by operating cash flow (18.3%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 13.5x coverage).
X
Financial health checks
We assess Meiko Electronics's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Meiko Electronics has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

MEC Dividends

 What is Meiko Electronics's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.32%
Current annual income from Meiko Electronics dividends. Estimated to be 1.41% next year.
If you bought €2,000 of Meiko Electronics shares you are expected to receive €26 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Meiko Electronics's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • Meiko Electronics's dividend is below the markets top 25% of dividend payers in Germany (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:MEC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Germany Electronic Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 1.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:MEC Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-03-31
2023-03-31
2022-03-31
2021-03-31 33.33 3.00
2020-03-31 31.25 4.00
2019-03-31 30.00 4.00
DB:MEC Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-02-13 30.000 1.599
2019-02-08 30.000 1.508
2018-11-13 30.000 1.610
2018-11-09 30.000 1.267
2018-06-26 20.000 0.755
2018-05-11 20.000 0.882
2018-02-13 20.000 1.080
2018-02-09 20.000 1.255
2017-11-13 20.000 0.926
2017-11-10 20.000 0.902
2017-08-10 20.000 1.029
2017-06-27 10.000 0.651
2017-05-12 10.000 0.784
2016-02-12 0.000 0.000
2016-02-10 0.000 0.000
2015-11-13 0.000 0.000
2015-11-12 0.000 0.000
2015-08-14 0.000 0.000
2015-08-13 0.000 0.000
2015-06-25 0.000 0.000
2015-05-11 0.000 0.000
2015-02-13 0.000 0.000
2015-02-12 0.000 0.000
2014-11-13 0.000 0.000
2014-11-07 0.000 0.000
2014-06-26 10.000 2.145
2014-05-12 10.000 1.738
2014-02-13 10.000 1.576
2014-02-10 10.000 1.320
2013-11-13 10.000 1.237
2013-11-08 10.000 1.255
2013-08-09 0.000 0.000
2013-08-08 0.000 0.000
2013-06-26 0.000 0.000
2013-05-10 0.000 0.000
2012-08-10 12.000 1.913
2012-08-08 12.000 1.968
2012-06-27 12.000 1.753
2012-05-10 12.000 1.554
2012-02-13 0.000 0.000
2012-02-10 0.000 0.000
2011-11-10 0.000 0.000
2011-08-10 0.000 0.000
2011-08-04 0.000 0.000
2011-06-28 0.000 0.000
2011-05-10 0.000 0.000
2011-02-14 24.000 2.177
2011-02-08 24.000 1.469
2010-11-10 24.000 1.390
2010-08-10 24.000 1.551
2010-06-29 24.000 1.363
2010-05-14 24.000 1.235
2010-02-12 20.000 1.003
2010-02-09 20.000 0.956
2009-11-12 20.000 0.961
2009-11-10 20.000 1.063
2009-06-26 30.000 1.581
2009-04-24 40.000 2.659

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Meiko Electronics's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (11.4x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Meiko Electronics's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Meiko Electronics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Meiko Electronics has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

MEC Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Yuichiro Naya
AGE 75
TENURE AS CEO 12.8 years
CEO Bio

Mr. Yuichiro Naya has been the President of Meiko Electronics Co., Ltd. since June 2006 and also serves as its Chief Executive Officer. Mr. Naya has been the President of Miyagi Meiko K.K. since December 2004. He has been the President of Yamagata Meiko K.K. since March 1997 and MD Systems Co., Ltd. since July 1988. He joined Showa Musen Kogyo K. K. in December 1973. He has been the Chairman of MEIKO ELECTRONICS VIETNAM CO., LTD. since December 2006. He has been a Representative Director of Meiko Electronics Co.,Ltd. since June 2006. He has been a Representative Director of MD Systems Co., Ltd. in July 1988. He has been Representative Director of Yamagata Meiko K.K. since March 1997. Mr. Naya has been Representative Director of Miyagi Meiko K.K. since December 2004. He was appointed as Director of Meiko Denshi in December 1998. He was appointed as Director of Meiko Denshi Honkon Yugen Koshi in August 1998.

CEO Compensation
  • Insufficient data for Yuichiro to compare compensation growth.
  • Insufficient data for Yuichiro to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Meiko Electronics management team in years:

9.5
Average Tenure
71.5
Average Age
  • The average tenure for the Meiko Electronics management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Yuichiro Naya

TITLE
Chief Executive Officer
AGE
75
TENURE
12.8 yrs

Seiichi Naya

TITLE
GM of Ops Mgmt HQ
AGE
69
TENURE
6.1 yrs

Masakuni Shinozaki

TITLE
Senior Managing Executive Officer
AGE
66
TENURE
5.2 yrs

Takahide Hirayama

TITLE
Senior Managing Executive Officer and Director
AGE
74
TENURE
13.3 yrs
Board of Directors Tenure

Average tenure and age of the Meiko Electronics board of directors in years:

7.8
Average Tenure
68
Average Age
  • The tenure for the Meiko Electronics board of directors is about average.
Board of Directors

Seiichi Naya

TITLE
GM of Ops Mgmt HQ
AGE
69
TENURE
13.8 yrs

Masakuni Shinozaki

TITLE
Senior Managing Executive Officer
AGE
66
TENURE
7.8 yrs

Takahide Hirayama

TITLE
Senior Managing Executive Officer and Director
AGE
74
TENURE
13.3 yrs

Kunihiko Sato

TITLE
Outside Director
AGE
74
TENURE
7.8 yrs

Yuichiro Naya

TITLE
Chief Executive Officer
AGE
75
TENURE
12.8 yrs

Marc Schweizer

TITLE
Director
AGE
46
TENURE
4.8 yrs

Shin Yoon Ho

TITLE
Director
AGE
67
TENURE
4.8 yrs

Hitoshi Iyomoto

TITLE
Senior Corporate Auditor
AGE
62
TENURE
7.8 yrs

Hiroshi Tsukii

TITLE
Outside Audit & Supervisory Board Member

Yasunobu Koshimura

TITLE
Outside Audit & Supervisory Board Member
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Meiko Electronics's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Meiko Electronics has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

MEC News

Simply Wall St News

MEC Company Info

Description

Meiko Electronics Co., Ltd. engages in the design, manufacture, and sale of printed circuit boards (PCBs) and auxiliary electronics in Japan, rest of Asia, North America, Europe, and internationally. Its principal products include double-sided/multi-layer through-hole PCBs, HDI PCBs, flexible PCBs, flex-rigid PCBs, high electric current PCBs, heat dissipation PCBs, embedded devices PCBs, solder stencils, PCB testers, and imaging devices and systems. The company also provides circuit design and electronic manufacturing services. Its products have applications in the areas of automobiles, telecommunications, industrial devices, and amusement/home appliances. The company was formerly known as Meiko Denshi Kogyo Co., Ltd. and changed its name to Meiko Electronics Co., Ltd. in April 1991. Meiko Electronics Co., Ltd. was founded in 1975 and is headquartered in Ayase, Japan.

Details
Name: Meiko Electronics Co., Ltd.
MEC
Exchange: DB
Founded: 1975
¥474,770,227
26,173,971
Website: http://www.meiko-elec.com
Address: Meiko Electronics Co., Ltd.
5-14-15, Ogami,
Ayase,
Kanagawa, 252-1104,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
JASDAQ 6787 Common Shares TSE JASDAQ JP JPY 08. Dec 2000
DB MEC Common Shares Deutsche Boerse AG DE EUR 08. Dec 2000
Number of employees
Current staff
Staff numbers
11,640
Meiko Electronics employees.
Industry
Electronic Components
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 20:59
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/07
Last earnings filing: 2019/02/13
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.