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Microwave Vision

ENXTPA:ALMIC
Snowflake Description

Excellent balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ALMIC
ENXTPA
€88M
Market Cap
  1. Home
  2. FR
  3. Tech
Company description

Microwave Vision S.A., together with its subsidiaries, manufactures and sells antenna measurement systems in North America, Europe, and Asia. The last earnings update was 20 days ago. More info.


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  • Microwave Vision has significant price volatility in the past 3 months.
ALMIC Share Price and Events
7 Day Returns
-3.4%
ENXTPA:ALMIC
-0.1%
FR Communications
1.9%
FR Market
1 Year Returns
13.7%
ENXTPA:ALMIC
-34.1%
FR Communications
-2.3%
FR Market
ALMIC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Microwave Vision (ALMIC) -3.4% 2.2% 42.4% 13.7% 129.3% 27.3%
FR Communications -0.1% -3.8% -0.1% -34.1% -39.3% -64.9%
FR Market 1.9% -2.3% 5.4% -2.3% 30.8% 29.8%
1 Year Return vs Industry and Market
  • ALMIC outperformed the Communications industry which returned -34.1% over the past year.
  • ALMIC outperformed the Market in France which returned -2.3% over the past year.
Price Volatility
ALMIC
Industry
5yr Volatility vs Market
Related Companies

ALMIC Value

 Is Microwave Vision 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 Microwave Vision 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 Microwave Vision.

ENXTPA:ALMIC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.9%
Perpetual Growth Rate 10-Year FR Government Bond Rate 0.7%

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 ENXTPA:ALMIC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FR Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.7%
Communications Unlevered Beta Simply Wall St/ S&P Global 1.08
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.082 (1 + (1- 33%) (5.39%))
1.081
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.08
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.73% + (1.081 * 6.65%)
7.92%

Discounted Cash Flow Calculation for ENXTPA:ALMIC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Microwave Vision 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.

ENXTPA:ALMIC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 7.92%)
2019 4.20 Analyst x1 3.89
2020 4.30 Analyst x1 3.69
2021 4.38 Est @ 1.86% 3.48
2022 4.45 Est @ 1.52% 3.28
2023 4.50 Est @ 1.29% 3.08
2024 4.55 Est @ 1.12% 2.88
2025 4.60 Est @ 1% 2.70
2026 4.64 Est @ 0.92% 2.52
2027 4.68 Est @ 0.87% 2.36
2028 4.72 Est @ 0.83% 2.20
Present value of next 10 years cash flows €30.09
ENXTPA:ALMIC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €4.72 × (1 + 0.73%) ÷ (7.92% – 0.73%)
€66.17
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €66.17 ÷ (1 + 7.92%)10
€30.87
ENXTPA:ALMIC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €30.09 + €30.87
€60.96
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €60.96 / 6.21
€9.81
ENXTPA:ALMIC Discount to Share Price
Calculation Result
Value per share (EUR) From above. €9.81
Current discount Discount to share price of €14.10
= -1 x (€14.10 - €9.81) / €9.81
-43.7%

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

  • The current share price of Microwave Vision is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Microwave Vision's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Microwave Vision's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:ALMIC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.76
ENXTPA:ALMIC Share Price ** ENXTPA (2019-05-20) in EUR €14.1
Europe Communications Industry PE Ratio Median Figure of 23 Publicly-Listed Communications Companies 20.59x
France Market PE Ratio Median Figure of 419 Publicly-Listed Companies 18.04x

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

** Primary Listing of Microwave Vision.

ENXTPA:ALMIC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:ALMIC Share Price ÷ EPS (both in EUR)

= 14.1 ÷ 0.76

18.6x

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

  • Microwave Vision is good value based on earnings compared to the Europe Communications industry average.
  • Microwave Vision is overvalued based on earnings compared to the France market.
Price based on expected Growth
Does Microwave Vision's expected growth come at a high price?
Raw Data
ENXTPA:ALMIC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.6x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
18.1%per year
Europe Communications Industry PEG Ratio Median Figure of 12 Publicly-Listed Communications Companies 1.7x
France Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

ENXTPA:ALMIC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.6x ÷ 18.1%

1.03x

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

  • Microwave Vision is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Microwave Vision's assets?
Raw Data
ENXTPA:ALMIC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €11.09
ENXTPA:ALMIC Share Price * ENXTPA (2019-05-20) in EUR €14.1
France Communications Industry PB Ratio Median Figure of 11 Publicly-Listed Communications Companies 1.23x
France Market PB Ratio Median Figure of 619 Publicly-Listed Companies 1.44x
ENXTPA:ALMIC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:ALMIC Share Price ÷ Book Value per Share (both in EUR)

= 14.1 ÷ 11.09

1.27x

* Primary Listing of Microwave Vision.

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

  • Microwave Vision is overvalued based on assets compared to the FR Communications industry average.
X
Value checks
We assess Microwave Vision'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 Communications 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 Communications industry average (and greater than 0)? (1 check)
  5. Microwave Vision has a total score of 1/6, 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.

ALMIC Future Performance

 How is Microwave Vision expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
18.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Microwave Vision expected to grow at an attractive rate?
  • Microwave Vision's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Microwave Vision's earnings growth is expected to exceed the France market average.
  • Microwave Vision's revenue growth is expected to exceed the France market average.
Annual Growth Rates Comparison
Raw Data
ENXTPA:ALMIC Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTPA:ALMIC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 18.1%
ENXTPA:ALMIC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 11.7%
France Communications Industry Earnings Growth Rate Market Cap Weighted Average 59.7%
France Communications Industry Revenue Growth Rate Market Cap Weighted Average 10%
France Market Earnings Growth Rate Market Cap Weighted Average 13.2%
France Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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
ENXTPA:ALMIC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTPA:ALMIC Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 94 7 1
2019-12-31 83 6 1
ENXTPA:ALMIC Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 75 -1 5
2018-09-30 73 0 4
2018-06-30 1 1 2
2018-03-31 0 4 2
2017-12-31 71 6 1
2017-09-30 37 5 2
2017-06-30 4 5 2
2017-03-31 2 5 1
2016-12-31 5 1
2016-09-30 31 5 0
2016-06-30 63 6 -1
2016-03-31 61 3 -1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Microwave Vision's earnings are expected to grow by 18.1% yearly, however this is not considered high growth (20% yearly).
  • Microwave Vision's revenue is expected to grow by 11.7% 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
ENXTPA:ALMIC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Microwave Vision Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:ALMIC Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 1.09 1.09 1.09 1.00
2019-12-31 0.89 0.89 0.89 1.00
ENXTPA:ALMIC Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.76
2018-09-30 0.58
2018-06-30 0.39
2018-03-31 0.30
2017-12-31 0.21
2017-09-30 0.25
2017-06-30 0.29
2017-03-31 0.23
2016-12-31 0.17
2016-09-30 -0.03
2016-06-30 -0.23
2016-03-31 -0.12

*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.
  • Microwave Vision is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Microwave Vision'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 France market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the France 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.
Microwave Vision has a total score of 3/6, 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.

ALMIC Past Performance

  How has Microwave Vision 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 Microwave Vision's growth in the last year to its industry (Communications).
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.
  • Microwave Vision's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Microwave Vision's 1-year earnings growth exceeds its 5-year average (254.6% vs -2.5%)
  • Microwave Vision's earnings growth has exceeded the Europe Communications industry average in the past year (254.6% vs 18.5%).
Earnings and Revenue History
Microwave Vision'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 Microwave Vision Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:ALMIC Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 74.64 4.76 36.99
2018-09-30 73.23 3.59 36.65
2018-06-30 0.76 2.43 36.00
2018-03-31 0.38 1.88 36.01
2017-12-31 71.07 1.34 36.33
2017-09-30 37.48 1.56 35.90
2017-06-30 3.89 1.78 35.46
2017-03-31 1.95 1.41 34.79
2016-12-31 1.04 34.12
2016-09-30 31.35 -0.18 33.81
2016-06-30 62.71 -1.40 33.51
2016-03-31 61.42 -0.74 33.19
2015-12-31 60.13 -0.07 32.87
2015-09-30 59.28 0.59 30.50
2015-06-30 58.43 1.24 28.14
2015-03-31 57.55 1.81 25.04
2014-12-31 56.66 2.38 21.94
2014-09-30 55.37 3.41 18.67
2014-06-30 54.08 4.44 15.39
2014-03-31 52.79 3.70 16.94
2013-12-31 51.50 2.96 18.48
2013-09-30 50.32 2.50 19.99
2013-06-30 49.14 2.04 21.50
2013-03-31 47.75 2.27 19.02
2012-12-31 46.36 2.50 16.54
2012-09-30 45.81 2.27 15.95
2012-06-30 45.25 2.04 15.37

*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.
  • Microwave Vision has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Microwave Vision used its assets more efficiently than the Europe Communications industry average last year based on Return on Assets.
  • Microwave Vision has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Microwave Vision'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 Communications 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.
Microwave Vision 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.

ALMIC Health

 How is Microwave Vision'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 Microwave Vision's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Microwave Vision is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Microwave Vision's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Microwave Vision'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 14.2x 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 Microwave Vision Company Filings, last reported 4 months ago.

ENXTPA:ALMIC Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 68.89 4.72 14.68
2018-09-30 68.89 4.72 14.68
2018-06-30 64.92 5.19 15.14
2018-03-31 64.92 5.19 15.14
2017-12-31 69.80 5.66 25.24
2017-09-30 69.80 5.66 25.24
2017-06-30 69.21 6.67 24.67
2017-03-31 69.21 6.67 24.67
2016-12-31 70.42 8.74 26.66
2016-09-30 70.42 8.74 26.66
2016-06-30 68.33 8.95 25.82
2016-03-31 68.33 8.95 25.82
2015-12-31 70.06 8.58 25.99
2015-09-30 70.06 8.58 25.99
2015-06-30 71.08 8.87 24.33
2015-03-31 71.08 8.87 24.33
2014-12-31 70.02 9.47 29.55
2014-09-30 70.02 9.47 29.55
2014-06-30 40.56 9.57 3.87
2014-03-31 40.56 9.57 3.87
2013-12-31 39.76 9.95 7.10
2013-09-30 39.76 9.95 7.10
2013-06-30 37.06 5.67 3.21
2013-03-31 37.06 5.67 3.21
2012-12-31 37.30 6.48 5.63
2012-09-30 37.30 6.48 5.63
2012-06-30 35.51 3.40 2.05
  • Microwave Vision's level of debt (6.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (25% vs 6.8% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 13.6x coverage).
X
Financial health checks
We assess Microwave Vision'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. Microwave Vision has a total score of 5/6, 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.

ALMIC Dividends

 What is Microwave Vision'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
0%
Current annual income from Microwave Vision dividends. Estimated to be 0% next year.
If you bought €2,000 of Microwave Vision shares you are expected to receive €0 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?
  • Unable to evaluate Microwave Vision's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Microwave Vision's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
ENXTPA:ALMIC 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 1 Analyst Estimates (S&P Global) See Below
Europe Communications Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 2.8%
France Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.1%
France Minimum Threshold Dividend Yield 10th Percentile 1%
France Bottom 25% Dividend Yield 25th Percentile 1.6%
France Top 25% Dividend Yield 75th Percentile 4.5%

Industry and Market average data is calculated daily.

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

ENXTPA:ALMIC Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00
ENXTPA:ALMIC Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2012-10-05 0.000 0.000
2012-09-25 0.000 0.000
2012-06-11 0.000 0.000
2012-05-10 0.000 0.000
2011-06-10 0.300 4.336

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

  • Unable to perform a dividend volatility check as Microwave Vision has not reported any payouts.
  • Unable to verify if Microwave Vision's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Microwave Vision's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Microwave Vision has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Microwave Vision's dividends in 3 years as they are not expected to pay a notable one for France.
X
Income/ dividend checks
We assess Microwave Vision's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - 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 Microwave Vision afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Microwave Vision has a total score of 0/6, see the detailed checks below.


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

ALMIC Management

 What is the CEO of Microwave Vision'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
Philippe Garreau
COMPENSATION €212,119
AGE 56
TENURE AS CEO 11.3 years
CEO Bio

Dr. Philippe Garreau has been the Chief Executive Officer of Microwave Vision SA (Alternatively, Satimo S.A.) since 2008 and serves as its President and Chairman. Prior to joining Satimo, Dr. Garreau started his career at the European Space Agency's technology centre in The Netherlands. Dr. Garreau has been the Chairman and Director of the Board at ORBIT/FR Inc. since May 13, 2008. Dr. Garreau holds a Ph. D degree in Electrical Engineering from SUPELEC, France.

CEO Compensation
  • Philippe's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Philippe's remuneration is lower than average for companies of similar size in France.
Management Team Tenure

Average tenure and age of the Microwave Vision management team in years:

11.3
Average Tenure
51
Average Age
  • The average tenure for the Microwave Vision management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Philippe Garreau

TITLE
Chairman & CEO
COMPENSATION
€212K
AGE
56
TENURE
11.3 yrs

Arnaud Gandois

TITLE
Chief Operating Officer
COMPENSATION
€139K
AGE
45

Luc Duchesne

TITLE
Chief Operating Officer
COMPENSATION
€129K
AGE
48

Gianni Barone

TITLE
Sales Director & Director
COMPENSATION
€132K
AGE
51

Olivier Gurs

TITLE
CFO & Director
TENURE
3.7 yrs

Lars Foged

TITLE
Scientific Director
AGE
51

Eric Beaumont

TITLE
Strategy Director
TENURE
12.3 yrs

John Estrada

TITLE
Managing Director of MVG USA
AGE
53
Board of Directors

Philippe Garreau

TITLE
Chairman & CEO
COMPENSATION
€212K
AGE
56

Gianni Barone

TITLE
Sales Director & Director
COMPENSATION
€132K
AGE
51

Olivier Gurs

TITLE
CFO & Director

Agnès Mestreau-Garreau

TITLE
Director

Sophie De Roux

TITLE
Director

Bruno Rivet

TITLE
Director
AGE
47

Sylvain Dekens

TITLE
Board Observer
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 Microwave Vision'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. Microwave Vision 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.

ALMIC News

Simply Wall St News

Is Microwave Vision S.A.'s (EPA:ALMIC) 7.7% ROE Worse Than Average?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … By way of learning-by-doing, we'll look at ROE to gain a better understanding of Microwave Vision S.A. … Microwave Vision has a ROE of 7.7%, based on the last twelve months.

Simply Wall St -

The Microwave Vision (EPA:ALMIC) Share Price Has Gained 52% And Shareholders Are Hoping For More

(EPA:ALMIC) shareholders have seen the share price rise 52% over three years, well in excess of the market return (34%, not including dividends). … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … Microwave Vision was able to grow its EPS at 34% per year over three years, sending the share price higher.

Simply Wall St -

Why Microwave Vision S.A.'s (EPA:ALMIC) High P/E Ratio Isn't Necessarily A Bad Thing

We'll look at Microwave Vision S.A.'s (EPA:ALMIC) P/E ratio and reflect on what it tells us about the company's share price. … Based on the last twelve months, Microwave Vision's P/E ratio is 30.46. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Why Microwave Vision S.A. (EPA:ALMIC) Could Be Your Next Investment

Want to participate in a short research study? … Help shape the future of investing tools and receive a $20 prize! … Looking at the company as a whole, as a potential stock investment, I believe ALMIC has a lot to offer.

Simply Wall St -

Does Microwave Vision S.A.'s (EPA:ALMIC) CEO Salary Reflect Performance?

In 2008 Philippe Garreau was appointed CEO of Microwave Vision S.A. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Philippe Garreau's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Microwave Vision S.A.’s (EPA:ALMIC) Investment Returns Are Lagging Its Industry

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Understanding Return On Capital Employed (ROCE). … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Taking A Look At Microwave Vision S.A.'s (EPA:ALMIC) ROE

Our data shows Microwave Vision has a return on equity of 3.2% for the last year. … That means that for every €1 worth of shareholders' equity, it generated €0.032 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Why Microwave Vision SA (EPA:ALMIC) Could Be Your Next Investment

Microwave Vision SA (EPA:ALMIC) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … In the case of ALMIC, it

Simply Wall St -

How Does Microwave Vision SA's (EPA:ALMIC) Earnings Growth Stack Up Against Industry Performance?

Examining Microwave Vision SA's (EPA:ALMIC) past track record of performance is an insightful exercise for investors. … Today I will assess ALMIC's latest performance announced on 30 June 2018 and compare these figures to its longer term trend and industry movements. … Commentary On ALMIC's Past Performance.

Simply Wall St -

What Should Investors Know About Microwave Vision SA's (EPA:ALMIC) Capital Returns?

and want to begin learning the link between Microwave Vision SA (EPA:ALMIC)’s return fundamentals and stock market performance. … Your return is tied to ALMIC’s ability to do this because the amount earned is used to invest in opportunities to grow the business or payout dividends, which are the two sources of return on investment. … Thus, to understand how your money can grow by investing in Microwave Vision, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)

Simply Wall St -

ALMIC Company Info

Description

Microwave Vision S.A., together with its subsidiaries, manufactures and sells antenna measurement systems in North America, Europe, and Asia. The company operates through Antenna Measurement Systems, Electro-Magnetic Compatibility, Environmental and Industrial Control, and National Security and Healthcare segments. The company provides antenna measurement systems, such as compact ranges, millimeter wave chambers, antenna measurement systems, multi-probe systems, defect detection systems, single-probe systems, hybrid systems, software, radar cross section components, anechoic chambers, acquisition control hardware, and components; absorber and anechoic chambers that include standard, specialty, and adapted absorbers, as well as ferrite tiles; and antennas, such as reference antennas, measurement probes and feeds, antennas for high power applications, telecommunication antennas, positioning antennas, and electro-magnetic compatibility antennas. It also offers specific absorptions rate systems, software, and accessories; precision positioning equipment that include antenna measurement systems, rotary and linear positioners, model towers, controllers, and power and local control units; and electro-magnetic compatibility test and measurement solutions, such as test chambers, shielded doors, RF shielded rooms, and accessories. Further, the company provides RF-safety instruments that include occupational and public RF safety products; NeptuLink, an Internet access solution for coastal areas; and industrial inspection scanners. It serves customers in aerospace and defense, satellite, automotive, consumer electronic, and telecommunication industries, as well as academic and research institutions. Microwave Vision S.A. was founded in 1986 and is headquartered in Paris, France.

Details
Name: Microwave Vision S.A.
ALMIC
Exchange: ENXTPA
Founded: 1986
€87,576,707
6,211,114
Website: http://www.mvg-world.com
Address: Microwave Vision S.A.
47, Boulevard Saint Michel,
Paris,
Ile-de-France, 75005,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA ALMIC Common Shares Euronext Paris FR EUR 29. Jun 2005
Number of employees
Current staff
Staff numbers
352
Microwave Vision employees.
Industry
Communications Equipment
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 20:57
End of day share price update: 2019/05/20 00:00
Last estimates confirmation: 2019/04/16
Last earnings filing: 2019/04/30
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.