Valuation Update With 7 Day Price Move • May 27
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to UK£3.45, the stock trades at a trailing P/E ratio of 51x. Average trailing P/E is 67x in the Semiconductor industry in Europe. Total loss to shareholders of 19% over the past three years. New Risk • May 11
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 British stocks, typically moving 8.7% 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 156% Paying a dividend despite having no free cash flows. Earnings have declined by 1.1% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (UK£47.9m market cap, or US$65.3m). Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to UK£2.88, the stock trades at a trailing P/E ratio of 42.5x. Average trailing P/E is 54x in the Semiconductor industry in Europe. Total loss to shareholders of 37% over the past three years. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to UK£2.53, the stock trades at a trailing P/E ratio of 37.2x. Average trailing P/E is 49x in the Semiconductor industry in Europe. Total loss to shareholders of 47% over the past three years. Announcement • Apr 01
CML Microsystems plc to Report Fiscal Year 2026 Results on Jun 16, 2026 CML Microsystems plc announced that they will report fiscal year 2026 results at 8:00 AM, GMT Standard Time on Jun 16, 2026 Recent Insider Transactions • Mar 25
Group MD & Director recently bought UK£52k worth of stock On the 23rd of March, Christopher Gurry bought around 25k shares on-market at roughly UK£2.10 per share. This transaction amounted to 2.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Christopher's only on-market trade for the last 12 months. Reported Earnings • Nov 24
First half 2026 earnings released: EPS: UK£0.12 (vs UK£0.043 in 1H 2025) First half 2026 results: EPS: UK£0.12 (up from UK£0.043 in 1H 2025). Revenue: UK£9.18m (down 27% from 1H 2025). Net income: UK£1.84m (up 164% from 1H 2025). Profit margin: 20% (up from 5.6% in 1H 2025). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Declared Dividend • Nov 20
First half dividend of UK£0.05 announced Dividend of UK£0.05 is the same as last year. Ex-date: 27th November 2025 Payment date: 12th December 2025 Dividend yield will be 3.9%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is not covered by earnings (156% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 4.8% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 73% to bring the payout ratio under control, which is less than the 77% EPS growth achieved over the last 5 years. New Risk • Nov 19
New major risk - Revenue and earnings growth Earnings have declined by 1.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 156% Paying a dividend despite having no free cash flows. Earnings have declined by 1.1% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (UK£46.8m market cap, or US$61.5m). Announcement • Nov 19
CML Microsystems plc Declares Interim Dividend for the Half Year Ended 30 September 2025, Payable on 12 December 2025 The Board of CML Microsystems plc declaring an interim dividend of 5 pence per ordinary share (H1 FY25: 5.0 pence) for the half year ended 30 September 2025, payable on 12 December 2025 to shareholders on the register on 28 November 2025. Announcement • Oct 22
CML Microsystems plc to Report First Half, 2026 Results on Nov 18, 2025 CML Microsystems plc announced that they will report first half, 2026 results on Nov 18, 2025 Recent Insider Transactions • Oct 10
Non-Executive Director recently bought UK£1.5m worth of stock On the 8th of October, Nathan Zommer bought around 559k shares on-market at roughly UK£2.62 per share. This transaction amounted to 81% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought UK£1.5m more in shares than they have sold in the last 12 months. Upcoming Dividend • Jul 24
Upcoming dividend of UK£0.06 per share Eligible shareholders must have bought the stock before 31 July 2025. Payment date: 15 August 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.6%. Lower than top quartile of British dividend payers (5.4%). Higher than average of industry peers (1.1%). Declared Dividend • Jun 26
Final dividend of UK£0.06 announced Dividend of UK£0.06 is the same as last year. Ex-date: 31st July 2025 Payment date: 15th August 2025 Dividend yield will be 4.4%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.8% per year over the past 10 years. However, payments have been volatile during that time. Reported Earnings • Jun 25
Full year 2025 earnings released: UK£0.001 loss per share (vs UK£0.13 profit in FY 2024) Full year 2025 results: UK£0.001 loss per share (down from UK£0.13 profit in FY 2024). Revenue: UK£22.9m (flat on FY 2024). Net loss: UK£18.0k (down 101% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. New Risk • Jun 08
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 137% Paying a dividend despite having no free cash flows. Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Profit margins are more than 30% lower than last year (5.2% net profit margin). Market cap is less than US$100m (UK£40.6m market cap, or US$54.9m). Announcement • Mar 27
CML Microsystems plc to Report Fiscal Year 2025 Results on Jun 24, 2025 CML Microsystems plc announced that they will report fiscal year 2025 results on Jun 24, 2025 Reported Earnings • Nov 25
First half 2025 earnings released: EPS: UK£0.043 (vs UK£0.094 in 1H 2024) First half 2025 results: EPS: UK£0.043 (down from UK£0.094 in 1H 2024). Revenue: UK£12.5m (up 19% from 1H 2024). Net income: UK£697.0k (down 53% from 1H 2024). Profit margin: 5.6% (down from 14% in 1H 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to UK£2.26, the stock trades at a forward P/E ratio of 30x. Average trailing P/E is 15x in the Semiconductor industry in Europe. Total loss to shareholders of 44% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£1.50 per share. Announcement • Nov 19
CML Microsystems plc Declares an Interim Dividend for the Half Year Ended 30 September 2024, Payable on 13 December 2024 The Board of CML Microsystems plc is declaring an interim dividend of 5 pence per ordinary share for the half year ended 30 September 2024, payable on 13 December 2024 to shareholders on the Register on 29 November 2024. Announcement • Oct 28
CML Microsystems plc to Report First Half, 2025 Results on Nov 19, 2024 CML Microsystems plc announced that they will report first half, 2025 results on Nov 19, 2024 Announcement • Aug 13
CML Microsystems plc Provides Earnings Guidance for the Year 2024 CML Microsystems plc provided earnings guidance for the year 2024. The Group's operating results across the opening four months of the financial year are slightly ahead of the comparable period and are on track to meet market expectations for the year as a whole. The company continue to expect an improvement in customer inventory levels to commence during the second half of the financial year. Upcoming Dividend • Jul 25
Upcoming dividend of UK£0.06 per share Eligible shareholders must have bought the stock before 01 August 2024. Payment date: 16 August 2024. Payout ratio is on the higher end at 85% but the company is not cash flow positive. Trailing yield: 3.5%. Lower than top quartile of British dividend payers (5.5%). Higher than average of industry peers (0.8%). Reported Earnings • Jul 05
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: UK£0.13 (down from UK£0.30 in FY 2023). Revenue: UK£22.9m (up 11% from FY 2023). Net income: UK£2.06m (down 57% from FY 2023). Profit margin: 9.0% (down from 23% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.8%. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Jul 04
CML Microsystems plc, Annual General Meeting, Aug 13, 2024 CML Microsystems plc, Annual General Meeting, Aug 13, 2024. Announcement • Jul 02
CML Microsystems plc Recommends Final Dividend, Payable on August 16, 2024 CML Microsystems plc recommended a final dividend of 6 pence per share, making the full-year dividend 11 pence per share (2023: 11 pence per share). Subject to shareholder approval, the shares will go ex-dividend on 15 August 2024 and the dividend will be paid to shareholders on 16 August 2024 whose names appear on the register at close of business on 2 August 2024. New Risk • Jul 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 74% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 74% per year for the foreseeable future. Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Shareholders have been diluted in the past year (3.9% increase in shares outstanding). Market cap is less than US$100m (UK£54.3m market cap, or US$68.7m). New Risk • Jun 23
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Dividend is not well covered by cash flows (dividend per share is over 19x cash flows per share). Large one-off items impacting financial results. Shareholders have been diluted in the past year (3.9% increase in shares outstanding). Market cap is less than US$100m (UK£56.4m market cap, or US$71.3m). New Risk • Apr 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.6% 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 Dividend is not well covered by cash flows (dividend per share is over 19x cash flows per share). Large one-off items impacting financial results. Shareholders have been diluted in the past year (3.6% increase in shares outstanding). Market cap is less than US$100m (UK£48.0m market cap, or US$60.7m). Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to UK£3.10, the stock trades at a trailing P/E ratio of 11.3x. Average forward P/E is 18x in the Semiconductor industry in Europe. Total returns to shareholders of 9.9% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£1.51 per share. Announcement • Mar 27
CML Microsystems plc to Report Fiscal Year 2024 Results on Jul 02, 2024 CML Microsystems plc announced that they will report fiscal year 2024 results on Jul 02, 2024 Announcement • Dec 20
CML Appoints Dr Nathan Zommer to the Board as Non-Executive, Effective from 1 January 2024 CML announced that, further to the announcement on 2 October 2023, Dr Nathan Zommer has now been appointed to the board of the Company in a non-executive capacity, effective from 1 January 2024, following completion of the normal regulatory due diligence checks. Upcoming Dividend • Dec 14
Upcoming dividend of UK£0.05 per share at 2.9% yield Eligible shareholders must have bought the stock before 21 December 2023. Payment date: 12 January 2024. Payout ratio is a comfortable 39% but the company is paying out more than the cash it is generating. Trailing yield: 2.9%. Lower than top quartile of British dividend payers (6.0%). Higher than average of industry peers (0.9%). Reported Earnings • Dec 07
First half 2024 earnings released: EPS: UK£0.094 (vs UK£0.12 in 1H 2023) First half 2024 results: EPS: UK£0.094 (down from UK£0.12 in 1H 2023). Revenue: UK£10.6m (up 5.3% from 1H 2023). Net income: UK£1.47m (down 21% from 1H 2023). Profit margin: 14% (down from 19% in 1H 2023). Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Dec 05
CML Microsystems plc Provides Earnings Guidance for the Fiscal Year 2024 CML Microsystems plc provided earnings guidance for the fiscal year 2024. For the year, the company expects full year revenues to be slightly ahead of current market expectations, with the majority of the growth attributable to the addition of MwT. Profitability is expected to be in line with current market expectations, with anticipated costs relating to the incorporation of MwT likely to temper further growth this year. Announcement • Dec 01
CML Microsystems plc Appoints Mark Mccabe as Executive Director to the Board of the Company as Chief Operating Officer CML Microsystems plc announced that Mark McCabe has been appointed as an Executive Director to the Board of the Company as Chief Operating Officer, effective immediately. Mark joined the Group in 2016 as Managing Director of the Communications business division. Immediately prior to joining CML, Mark was UK business unit manager for Air Liquide, a world leader in the supply of gases to the nuclear, food and electronics markets. Previously he gained extensive experience within the electronics component industry serving as Managing Director of Semelab (a subsidiary of TT Electronics PLC), as executive VP at SRC Devices Inc. (a company acquired by Littelfuse Inc) and through a variety of sales, marketing and operational roles at Semitron, where he participated in a successful MBO. Mark qualified as an Electrical and Electronic Engineer working in various Ministry of Defence establishments. In a further move to support the Group's long-term sustainable growth objectives, Michelle Jones has recently been appointed to the senior management position of Director of Finance and Company Secretary. Michelle joined the Company in 2018 as Group Financial Controller and in July 2020 was appointed to the additional role of Company Secretary. Prior to CML, Michelle spent ten years at the Regis Group Plc, a leading real estate company, where she held the position of Group Financial Controller. During previous roles Michelle held similar positions at Derichebourg Multiservices, a company providing servicing facilities to the aircraft industry and at Thermos Limited, a manufacturer and distributor of Thermos branded products throughout Europe. Earlier experience included a number of management accountant roles, including working for an NHS trust. She is a qualified chartered certified accountant, holding a FCCA. Announcement • Nov 13
CML Microsystems plc to Report Q2, 2024 Results on Dec 05, 2023 CML Microsystems plc announced that they will report Q2, 2024 results on Dec 05, 2023 Board Change • Sep 04
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. 1 experienced director. 3 highly experienced directors. Senior Independent Non-Executive Director Geoff Barnes was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 11
CML Microsystems plc Declares Final Dividend for the Year Ended 31 March 2023 CML Microsystems plc held its Annual General Meeting on 09 August 2023, declared a final dividend of 6.0 pence per 5 pence ordinary share for the year ended 31st March 2023. Announcement • Jun 29
CML Microsystems plc Proposes Final Dividend for the Year Ended 31 March 2023, Payable on 18 August 2023 CML Microsystems plc proposed to pay a final dividend of 6.0 pence per ordinary share of 5 pence, taking the total dividend amount in respect of the year ended 31 March 2023 to 11.0 pence. It is proposed to pay the final dividend of 6.0 pence, if approved, on 18 August 2023 to shareholders registered on 4 August 2023 (2022: paid 19 August 2022 to shareholders registered on 5 August 2022). Announcement • Jun 27
CML Microsystems plc, Annual General Meeting, Aug 09, 2023 CML Microsystems plc, Annual General Meeting, Aug 09, 2023. Announcement • Jan 18
CML Microsystems plc (AIM:CML) entered into a definitive agreement to acquire Microwave Technology, Inc. for $18 million. CML Microsystems plc (AIM:CML) entered into a definitive agreement to acquire Microwave Technology, Inc. for $18 million on January 17, 2023. The Acquisition, which is subject to US regulatory clearance, is valued at a maximum of US$18m and will be funded from a mixture of the Company's significant existing cash resources and the issue to the sellers of new CML ordinary shares in a ratio of approximately 60/40. Upon successful closing of the transaction, it is intended that MwT's majority shareholder and current Chairman, Dr Nathan Zommer, will join the CML Board of Directors in a non-executive capacity. The Acquisition is expected to complete during the first half of 2023. Upcoming Dividend • Jul 22
Inaugural dividend of UK£0.50 per share Eligible shareholders must have bought the stock before 29 July 2021. Payment date: 13 August 2021. The company last paid an ordinary dividend in November 2020. The average dividend yield among industry peers is 0.6%. Reported Earnings • Jun 16
Full year 2021 earnings released: EPS UK£0.048 (vs UK£0.09 in FY 2020) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2021 results: Revenue: UK£12.5m (down 53% from FY 2020). Net income: UK£802.0k (down 48% from FY 2020). Profit margin: 6.4% (up from 5.8% in FY 2020). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Executive Departure • Jun 01
Group Sales & Marketing Director and Director has left the company On the 31st of May, Hugh Rudden's tenure as Group Sales & Marketing Director and Director ended after 7.0 years in the role. We don't have any record of a personal shareholding under Hugh's name. Hugh is the only executive to leave the company over the last 12 months. Upcoming Dividend • Mar 12
Upcoming Dividend of UK£0.50 Per Share Will be paid on the 26th of March to those who are registered shareholders by the 19th of March. The trailing yield of 1.1% is below the top quartile of British dividend payers (4.5%), but it is higher than industry peers (0.7%). Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment improved over the past week After last week's 17% share price gain to UK£4.12, the stock is trading at a trailing P/E ratio of 53.5x, up from the previous P/E ratio of 45.9x. This compares to an average P/E of 59x in the Semiconductor industry in Europe. Total return to shareholders over the past three years is a loss of 13%. Is New 90 Day High Low • Jan 07
New 90-day high: UK£3.80 The company is up 51% from its price of UK£2.52 on 09 October 2020. The British market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£9.61 per share. Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment improved over the past week After last week's 29% share price gain to UK£3.65, the stock is trading at a trailing P/E ratio of 47.4x, up from the previous P/E ratio of 36.8x. This compares to an average P/E of 54x in the Semiconductor industry in Europe. Total return to shareholders over the past three years is a loss of 25%. Is New 90 Day High Low • Dec 11
New 90-day high: UK£3.65 The company is up 43% from its price of UK£2.56 on 11 September 2020. The British market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 26% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£9.59 per share. Reported Earnings • Nov 26
First half 2021 earnings released: EPS UK£0.047 The company reported a poor first half result with weaker earnings, revenues and profit margins. First half 2021 results: Revenue: UK£12.9m (down 1.2% from 1H 2020). Net income: UK£791.0k (down 23% from 1H 2020). Profit margin: 6.1% (down from 7.9% in 1H 2020). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 11
New 90-day low: UK£2.33 The company is down 10.0% from its price of UK£2.58 on 13 August 2020. The British market is up 1.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Semiconductor industry, which is down 13% over the same period. Is New 90 Day High Low • Oct 15
New 90-day low: UK£2.40 The company is down 4.0% from its price of UK£2.51 on 17 July 2020. The British market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 13% over the same period.