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MI

Mi Technovation BerhadKLSE:MI Stock Report

Market Cap

RM3.4b

7D

-2.0%

1Y

-5.7%

Updated

27 Oct, 2021

Data

Company Financials +
MI fundamental analysis
Snowflake Score
Valuation3/6
Future Growth5/6
Past Performance2/6
Financial Health4/6
Dividends0/6

MI Overview

Mi Technovation Berhad, an investment holding company, designs, develops, manufactures, and sells wafer level chip scale packaging (WLCSP) sorting machines for the semiconductor industry in Southeast Asia, Northeast Asia, and North Atlantic.

Price History & Performance

Summary of all time highs, changes and price drops for Mi Technovation Berhad
Historical stock prices
Current Share PriceRM3.83
52 Week HighRM2.99
52 Week LowRM5.52
Beta1.08
1 Month Change-3.04%
3 Month Change2.41%
1 Year Change-5.67%
3 Year Change136.42%
5 Year Changen/a
Change since IPO273.05%

Recent News & Updates

Jun 01
What Is Mi Technovation Berhad's (KLSE:MI) Share Price Doing?

What Is Mi Technovation Berhad's (KLSE:MI) Share Price Doing?

Mi Technovation Berhad ( KLSE:MI ), is not the largest company out there, but it saw significant share price movement...

May 06
Is Mi Technovation Berhad (KLSE:MI) Using Too Much Debt?

Is Mi Technovation Berhad (KLSE:MI) Using Too Much Debt?

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Shareholder Returns

MIMY SemiconductorMY Market
7D-2.0%-0.6%-1.0%
1Y-5.7%75.6%10.0%

Return vs Industry: MI underperformed the MY Semiconductor industry which returned 75.6% over the past year.

Return vs Market: MI underperformed the MY Market which returned 10% over the past year.

Price Volatility

Is MI's price volatile compared to industry and market?
MI volatility
MI Beta1.08
Industry Beta1.11
Market Beta1

Stable Share Price: MI is not significantly more volatile than the rest of MY stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: MI's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2007n/aKuang Ohhttps://www.mi-eq.com

Mi Technovation Berhad, an investment holding company, designs, develops, manufactures, and sells wafer level chip scale packaging (WLCSP) sorting machines for the semiconductor industry in Southeast Asia, Northeast Asia, and North Atlantic. The company operates through Semiconductor Equipment Business Unit and Automation and Robotics Business Unit segments. Its primary product is the Mi series WLCSP die sorting machine used for die sorting from wafer to carrier tape for bare die, bump/flip chips, and WLCSP.

Mi Technovation Berhad Fundamentals Summary

How do Mi Technovation Berhad's earnings and revenue compare to its market cap?
MI fundamental statistics
Market CapRM3.40b
Earnings (TTM)RM55.15m
Revenue (TTM)RM303.32m

62.2x

P/E Ratio

11.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MI income statement (TTM)
RevenueRM303.32m
Cost of RevenueRM194.90m
Gross ProfitRM108.41m
ExpensesRM53.26m
EarningsRM55.15m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.062
Gross Margin35.74%
Net Profit Margin18.18%
Debt/Equity Ratio15.4%

How did MI perform over the long term?

See historical performance and comparison

Valuation

Is Mi Technovation Berhad undervalued compared to its fair value and its price relative to the market?

41.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MI (MYR3.83) is trading below our estimate of fair value (MYR6.52)

Significantly Below Fair Value: MI is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: MI is poor value based on its PE Ratio (62.2x) compared to the MY Semiconductor industry average (61.9x).

PE vs Market: MI is poor value based on its PE Ratio (62.2x) compared to the MY market (16.5x).


Price to Earnings Growth Ratio

PEG Ratio: MI is poor value based on its PEG Ratio (1.8x)


Price to Book Ratio

PB vs Industry: MI is good value based on its PB Ratio (4.7x) compared to the MY Semiconductor industry average (5.1x).


Future Growth

How is Mi Technovation Berhad forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

34.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MI's forecast earnings growth (34.8% per year) is above the savings rate (3.6%).

Earnings vs Market: MI's earnings (34.8% per year) are forecast to grow faster than the MY market (10.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: MI's revenue (27.1% per year) is forecast to grow faster than the MY market (6.3% per year).

High Growth Revenue: MI's revenue (27.1% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MI's Return on Equity is forecast to be low in 3 years time (17.5%).


Past Performance

How has Mi Technovation Berhad performed over the past 5 years?

11.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MI has high quality earnings.

Growing Profit Margin: MI's current net profit margins (18.2%) are lower than last year (29.8%).


Past Earnings Growth Analysis

Earnings Trend: MI's earnings have grown by 11.9% per year over the past 5 years.

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

Earnings vs Industry: MI had negative earnings growth (-13%) over the past year, making it difficult to compare to the Semiconductor industry average (89%).


Return on Equity

High ROE: MI's Return on Equity (7.5%) is considered low.


Financial Health

How is Mi Technovation Berhad's financial position?


Financial Position Analysis

Short Term Liabilities: MI's short term assets (MYR423.6M) exceed its short term liabilities (MYR98.3M).

Long Term Liabilities: MI's short term assets (MYR423.6M) exceed its long term liabilities (MYR85.8M).


Debt to Equity History and Analysis

Debt Level: MI's debt to equity ratio (15.4%) is considered satisfactory.

Reducing Debt: MI's debt to equity ratio has increased from 13.2% to 15.4% over the past 5 years.

Debt Coverage: MI's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: MI's interest payments on its debt are well covered by EBIT (90.3x coverage).


Balance Sheet


Dividend

What is Mi Technovation Berhad current dividend yield, its reliability and sustainability?

1.16%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate MI's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate MI's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MI's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MI's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: MI is not paying a notable dividend for the MY market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MI's dividend in 3 years as they are not forecast to pay a notable one for the MY market.


Next Steps

Management

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

2.8yrs

Average management tenure


CEO

Kuang Oh (51 yo)

4.75yrs

Tenure

Mr. Kuang Eng Oh has been Group CEO of Mi Equipment Holdings Berhad (Now known as Mi Technovation Berhad) since 2017 and also serves as its Executive Director. He also heads Mi Equipment Holdings Berhad's...


Leadership Team

Experienced Management: MI's management team is considered experienced (2.8 years average tenure).


Board Members

Experienced Board: MI's board of directors are not considered experienced ( 2.2 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 20.1%.


Top Shareholders

Company Information

Mi Technovation Berhad's employee growth, exchange listings and data sources


Key Information

  • Name: Mi Technovation Berhad
  • Ticker: MI
  • Exchange: KLSE
  • Founded: 2007
  • Industry: Semiconductor Equipment
  • Sector: Semiconductors
  • Market Cap: RM3.396b
  • Shares outstanding: 896.00m
  • Website: https://www.mi-eq.com

Number of Employees


Location

  • Mi Technovation Berhad
  • No. 20, Medan Bayan Lepas Technoplex
  • MK 12, Taman Perindustrian
  • Bayan Lepas
  • Pulau Pinang
  • 11900
  • Malaysia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/27 11:05
End of Day Share Price2021/10/27 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.