Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €5.80, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 49x in the Semiconductor industry in France. Total returns to shareholders of 48% over the past three years. Valuation Update With 7 Day Price Move • May 04
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €4.71, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 39x in the Semiconductor industry in France. Total returns to shareholders of 40% over the past three years. Announcement • May 01
MEMSCAP, S.A., Annual General Meeting, Jun 17, 2026 MEMSCAP, S.A., Annual General Meeting, Jun 17, 2026. Location: parc activillage des fontaines, bernin France New Risk • Apr 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of French stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Profit margins are more than 30% lower than last year (7.5% net profit margin). Market cap is less than US$100m (€48.4m market cap, or US$57.0m). Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €5.08, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 28x in the Semiconductor industry in France. Total returns to shareholders of 76% over the past three years. Major Estimate Revision • Mar 27
Consensus EPS estimates increase by 53% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from €0.17 to €0.26. Revenue forecast unchanged at €13.4m. Net income forecast to grow 124% next year vs 48% growth forecast for Semiconductor industry in France. Consensus price target up from €6.00 to €6.56. Share price fell 2.4% to €4.43 over the past week. Reported Earnings • Mar 27
Full year 2025 earnings released Full year 2025 results: Revenue: €12.0m (down 5.3% from FY 2024). Net income: €894.0k (down 35% from FY 2024). Profit margin: 7.5% (down from 11% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Semiconductor industry in France. Announcement • Mar 26
MEMSCAP, S.A. Proposes Dividend The Board of Directors of MEMSCAP, S.A. will propose at the next General Meeting the payment of a dividend of €501,000, i.e. €0.066 per share. New Risk • Mar 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of French stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Profit margins are more than 30% lower than last year (7.5% net profit margin). Market cap is less than US$100m (€34.8m market cap, or US$40.4m). Major Estimate Revision • Feb 03
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from €13.5m to €13.3m. EPS estimate also fell from €0.19 per share to €0.17 per share. Net income forecast to grow 44% next year vs 48% growth forecast for Semiconductor industry in France. Consensus price target of €6.00 unchanged from last update. Share price rose 6.9% to €4.39 over the past week. Reported Earnings • Jan 28
Full year 2025 earnings released Full year 2025 results: Revenue: €12.0m (down 5.3% from FY 2024). Net income: €894.0k (down 35% from FY 2024). Profit margin: 7.5% (down from 11% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Semiconductor industry in France. Buy Or Sell Opportunity • Dec 24
Now 23% undervalued Over the last 90 days, the stock has risen 7.5% to €4.30. The fair value is estimated to be €5.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 182% in the next 2 years. Reported Earnings • Oct 28
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: €2.62m (flat on 3Q 2024). Net income: €176.0k (down 1.1% from 3Q 2024). Profit margin: 6.7% (down from 6.8% in 3Q 2024). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Semiconductor industry in France. New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of French stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Profit margins are more than 30% lower than last year (6.5% net profit margin). Market cap is less than US$100m (€30.9m market cap, or US$35.7m). Reported Earnings • Aug 04
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: €3.04m (down 12% from 2Q 2024). Net income: €71.0k (down 82% from 2Q 2024). Profit margin: 2.3% (down from 11% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Semiconductor industry in France. Reported Earnings • May 02
First quarter 2025 earnings released First quarter 2025 results: Revenue: €3.11m (down 19% from 1Q 2024). Net income: €292.0k (down 52% from 1Q 2024). Profit margin: 9.4% (down from 16% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Semiconductor industry in France. Announcement • Apr 29
MEMSCAP, S.A., Annual General Meeting, Jun 03, 2025 MEMSCAP, S.A., Annual General Meeting, Jun 03, 2025. Location: parc activillage des fontaines, bernin France Buy Or Sell Opportunity • Apr 08
Now 21% overvalued Over the last 90 days, the stock has fallen 29% to €3.55. The fair value is estimated to be €2.94, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 43%. Revenue is forecast to grow by 50% in 2 years. Earnings are forecast to grow by 188% in the next 2 years. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €3.48, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Semiconductor industry in France. Total returns to shareholders of 170% over the past three years. Reported Earnings • Mar 31
Full year 2024 earnings released: EPS: €0.18 (vs €0.29 in FY 2023) Full year 2024 results: EPS: €0.18 (down from €0.29 in FY 2023). Revenue: €12.7m (down 10.0% from FY 2023). Net income: €1.37m (down 36% from FY 2023). Profit margin: 11% (down from 15% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 5.3% growth forecast for the Semiconductor industry in France. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to €4.65, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Semiconductor industry in France. Total returns to shareholders of 291% over the past three years. Reported Earnings • Jan 29
Full year 2024 earnings released Full year 2024 results: Revenue: €12.7m (down 10.0% from FY 2023). Net income: €1.37m (down 36% from FY 2023). Profit margin: 11% (down from 15% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Semiconductor industry in France. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €3.89, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Semiconductor industry in France. Total returns to shareholders of 190% over the past three years. New Risk • Dec 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of French stocks, typically moving 9.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.8% average weekly change). Minor Risks Shareholders have been diluted in the past year (3.3% increase in shares outstanding). Market cap is less than US$100m (€37.6m market cap, or US$39.6m). Announcement • Dec 10
MEMSCAP, S.A. (ENXTPA:MEMS) commences an Equity Buyback Plan for 770,393 shares, representing 10% for €7.5 million, under the authorization approved on May 31, 2024. MEMSCAP, S.A. (ENXTPA:MEMS) commences share repurchases on December 4, 2024, under the program mandated by the Annual General Meeting held on May 31, 2024. As per the mandate, the company is authorized to repurchase 770,393 shares, representing up to 10% of its issued share capital for €7.5 million. The shares will be repurchased at a maximum price of €20 per share. The shares will be repurchased to delivery or exchange operations when exercising the rights attached to securities giving access to the capital of the Company, to the retention and/or subsequent delivery of shares in payment or exchange within the framework of external growth operations, to honor obligations linked to stock option programs, free share allocations, employee savings or other share allocations to employees and managers of the Company or companies related to it, to the cancellation within the framework of the Company. This authorization is given for a period of 18 months from the date of this meeting. As of May 31, 2024, the company had 7,706,902 shares issued of which 2,964 shares in treasury.
On December 2, 2024, the company announced a share repurchase program. Under the program, the company will repurchase €0.5 million worth of its shares. The repurchased shares will be cancelled. The program is implemented from December 4, 2024 to March 31, 2025. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to €3.96, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Semiconductor industry in France. Total returns to shareholders of 189% over the past three years. Major Estimate Revision • Nov 04
Consensus EPS estimates fall by 22% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €14.7m to €13.3m. EPS estimate also fell from €0.27 per share to €0.21 per share. Net income forecast to grow 20% next year vs 14% decline forecast for Semiconductor industry in France. Consensus price target of €9.10 unchanged from last update. Share price fell 2.5% to €3.96 over the past week. Reported Earnings • Oct 29
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: €2.63m (down 13% from 3Q 2023). Net income: €178.0k (down 41% from 3Q 2023). Profit margin: 6.8% (down from 10% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Semiconductor industry in France. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €5.05, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 14x in the Semiconductor industry in France. Total returns to shareholders of 251% over the past three years. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €5.88, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 15x in the Semiconductor industry in France. Total returns to shareholders of 300% over the past three years. Major Estimate Revision • Aug 05
Consensus EPS estimates fall by 25% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €15.7m to €14.7m. EPS estimate also fell from €0.36 per share to €0.27 per share. Net income forecast to grow 25% next year vs 17% decline forecast for Semiconductor industry in France. Consensus price target down from €10.30 to €9.10. Share price fell 14% to €6.09 over the past week. Price Target Changed • Aug 01
Price target decreased by 12% to €9.10 Down from €10.30, the current price target is provided by 1 analyst. New target price is 42% above last closing price of €6.41. Stock is up 38% over the past year. The company is forecast to post earnings per share of €0.27 for next year compared to €0.29 last year. Reported Earnings • Jul 30
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €3.44m (flat on 2Q 2023). Net income: €384.0k (down 42% from 2Q 2023). Profit margin: 11% (down from 19% in 2Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Semiconductor industry in France. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 70% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jul 05
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 27% to €7.00. The fair value is estimated to be €9.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 36% in 2 years. Earnings are forecast to grow by 56% in the next 2 years. Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to €7.04, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Semiconductor industry in France. Total returns to shareholders of 339% over the past three years. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €6.07, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 17x in the Semiconductor industry in France. Total returns to shareholders of 292% over the past three years. Buy Or Sell Opportunity • Jun 13
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to €6.70. The fair value is estimated to be €8.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 36% in 2 years. Earnings are forecast to grow by 56% in the next 2 years. New Risk • May 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Market cap is less than US$100m (€59.4m market cap, or US$64.6m). Reported Earnings • Apr 30
First quarter 2024 earnings released First quarter 2024 results: Revenue: €3.83m (up 4.5% from 1Q 2023). Net income: €608.0k (up 29% from 1Q 2023). Profit margin: 16% (up from 13% in 1Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Semiconductor industry in France. Announcement • Mar 28
MEMSCAP, S.A., Annual General Meeting, May 31, 2024 MEMSCAP, S.A., Annual General Meeting, May 31, 2024. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €7.78, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 18x in the Semiconductor industry in France. Total returns to shareholders of 367% over the past three years. Buy Or Sell Opportunity • Mar 14
Now 28% undervalued Over the last 90 days, the stock has risen 23% to €7.78. The fair value is estimated to be €10.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 34% in 2 years. Earnings are forecast to grow by 59% in the next 2 years. Buy Or Sell Opportunity • Feb 06
Now 25% undervalued Over the last 90 days, the stock has risen 52% to €7.62. The fair value is estimated to be €10.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 34% in 2 years. Earnings are forecast to grow by 59% in the next 2 years. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €7.90, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 19x in the Semiconductor industry in France. Total returns to shareholders of 394% over the past three years. Reported Earnings • Jan 25
Full year 2023 earnings released Full year 2023 results: Revenue: €14.1m (up 51% from FY 2022). Net income: €2.14m (up €1.99m from FY 2022). Profit margin: 15% (up from 1.6% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Semiconductor industry in France. Buying Opportunity • Jan 11
Now 20% undervalued Over the last 90 days, the stock is up 54%. The fair value is estimated to be €8.54, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 43% in 2 years. Earnings is forecast to grow by 103% in the next 2 years. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €7.12, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 16x in the Semiconductor industry in France. Total returns to shareholders of 486% over the past three years. Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €6.22, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 14x in the Semiconductor industry in France. Total returns to shareholders of 516% over the past three years. Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €4.57, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Semiconductor industry in France. Total returns to shareholders of 504% over the past three years. Major Estimate Revision • Oct 30
Consensus EPS estimates increase by 11%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from €14.2m to €14.0m. EPS estimate rose from €0.27 to €0.30. Net income forecast to grow 62% next year vs 6.1% decline forecast for Semiconductor industry in France. Consensus price target down from €7.90 to €7.10. Share price rose 15% to €4.51 over the past week. Reported Earnings • Oct 25
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: €3.01m (up 43% from 3Q 2022). Net income: €304.0k (up €304.0k from 3Q 2022). Profit margin: 10% (up from 0% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Semiconductor industry in France. New Risk • Oct 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of French stocks, typically moving 9.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.3% average weekly change). Minor Risk Market cap is less than US$100m (€33.0m market cap, or US$35.0m). Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €4.20, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Semiconductor industry in France. Total returns to shareholders of 362% over the past three years. Reported Earnings • Sep 01
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €3.42m (up 52% from 2Q 2022). Net income: €664.0k (up €578.0k from 2Q 2022). Profit margin: 19% (up from 3.8% in 2Q 2022). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Aug 09
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €5.90, the stock trades at a trailing P/E ratio of 36.7x. Average trailing P/E is 27x in the Semiconductor industry in France. Total returns to shareholders of 516% over the past three years. Reported Earnings • Jul 26
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €3.42m (up 52% from 2Q 2022). Net income: €664.0k (up €578.0k from 2Q 2022). Profit margin: 19% (up from 3.8% in 2Q 2022). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €4.68, the stock trades at a trailing P/E ratio of 52.1x. Average trailing P/E is 26x in the Semiconductor industry in France. Total returns to shareholders of 389% over the past three years. Valuation Update With 7 Day Price Move • May 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €3.95, the stock trades at a trailing P/E ratio of 44x. Average trailing P/E is 20x in the Semiconductor industry in France. Total returns to shareholders of 278% over the past three years. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Non-Voting Board Member (censor) Joel Alanis was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Nov 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Non-Voting Board Member (censor) Joel Alanis was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Oct 22
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: €2.10m (down 28% from 3Q 2021). Net income: €0 (up €100.0k from 3Q 2021). Profit margin: 0% (up from net loss in 3Q 2021). Reported Earnings • Jul 28
First half 2022 earnings released First half 2022 results: Revenue: €4.60m (down 14% from 1H 2021). Net income: €200.0k (up €410.0k from 1H 2021). Profit margin: 4.3% (up from net loss in 1H 2021).