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MPG

Metro Performance GlassNZSE:MPG Stock Report

Market Cap

NZ$78.8m

7D

0%

1Y

16.9%

Updated

22 Oct, 2021

Data

Company Financials +
MPG fundamental analysis
Snowflake Score
Valuation6/6
Future Growth2/6
Past Performance2/6
Financial Health2/6
Dividends0/6

MPG Overview

Metro Performance Glass Limited, together with its subsidiaries, supplies processed flat glass and related products for the residential and commercial building sectors in New Zealand and Australia.

Metro Performance Glass Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Metro Performance Glass
Historical stock prices
Current Share PriceNZ$0.41
52 Week HighNZ$0.34
52 Week LowNZ$0.47
Beta0.31
1 Month Change5.06%
3 Month Change-6.74%
1 Year Change16.90%
3 Year Change-51.18%
5 Year Change-80.88%
Change since IPO-76.42%

Recent News & Updates

May 21
Metro Performance Glass' (NZSE:MPG) Returns On Capital Not Reflecting Well On The Business

Metro Performance Glass' (NZSE:MPG) Returns On Capital Not Reflecting Well On The Business

To avoid investing in a business that's in decline, there's a few financial metrics that can provide early indications...

Apr 16
Is Metro Performance Glass Limited (NZSE:MPG) Trading At A 43% Discount?

Is Metro Performance Glass Limited (NZSE:MPG) Trading At A 43% Discount?

In this article we are going to estimate the intrinsic value of Metro Performance Glass Limited ( NZSE:MPG ) by...

Shareholder Returns

MPGNZ BuildingNZ Market
7D0%1.6%0.7%
1Y16.9%41.3%2.4%

Return vs Industry: MPG underperformed the NZ Building industry which returned 41.3% over the past year.

Return vs Market: MPG exceeded the NZ Market which returned 2.4% over the past year.

Price Volatility

Is MPG's price volatile compared to industry and market?
MPG volatility
MPG Beta0.31
Industry Beta1.09
Market Beta1

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

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

About the Company

FoundedEmployeesCEOWebsite
19871,150Simon Manderhttps://www.metroglass.co.nz

Metro Performance Glass Limited, together with its subsidiaries, supplies processed flat glass and related products for the residential and commercial building sectors in New Zealand and Australia. Its glass products include splashbacks, benchtops, and kitchen doors and mirrors; and bathroom mirrors, inline showers, two and three sided showers, bath end showers, bath screens, shower linings, and shower and screen hardware. The company also offers interior balustrades, stairs and floors, room dividers, mirrors, wall linings, doors, and furniture; and exterior balustrades, pool fences, wind breaks, glass canopies, glass features, outdoor furniture, and balustrade and pool fence hardware.

Metro Performance Glass Fundamentals Summary

How do Metro Performance Glass's earnings and revenue compare to its market cap?
MPG fundamental statistics
Market CapNZ$78.79m
Earnings (TTM)NZ$8.54m
Revenue (TTM)NZ$232.27m

9.0x

P/E Ratio

0.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MPG income statement (TTM)
RevenueNZ$232.27m
Cost of RevenueNZ$133.43m
Gross ProfitNZ$98.85m
ExpensesNZ$90.30m
EarningsNZ$8.54m

Last Reported Earnings

Mar 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.046
Gross Margin42.56%
Net Profit Margin3.68%
Debt/Equity Ratio67.9%

How did MPG perform over the long term?

See historical performance and comparison

Valuation

Is Metro Performance Glass undervalued compared to its fair value and its price relative to the market?

41.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MPG (NZ$0.42) is trading below our estimate of fair value (NZ$0.71)

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


Price To Earnings Ratio

PE vs Industry: MPG is good value based on its PE Ratio (9x) compared to the Oceanic Building industry average (19.3x).

PE vs Market: MPG is good value based on its PE Ratio (9x) compared to the NZ market (22.2x).


Price to Earnings Growth Ratio

PEG Ratio: MPG is good value based on its PEG Ratio (0.5x)


Price to Book Ratio

PB vs Industry: MPG is good value based on its PB Ratio (0.9x) compared to the XO Building industry average (1.6x).


Future Growth

How is Metro Performance Glass forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

16.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MPG's forecast earnings growth (16.4% per year) is above the savings rate (2.1%).

Earnings vs Market: MPG's earnings (16.4% per year) are forecast to grow faster than the NZ market (9.3% per year).

High Growth Earnings: MPG's earnings are forecast to grow, but not significantly.

Revenue vs Market: MPG's revenue (4% per year) is forecast to grow slower than the NZ market (5.2% per year).

High Growth Revenue: MPG's revenue (4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MPG's Return on Equity is forecast to be low in 3 years time (11.7%).


Past Performance

How has Metro Performance Glass performed over the past 5 years?

-62.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MPG has a large one-off gain of NZ$7.1M impacting its March 31 2021 financial results.

Growing Profit Margin: MPG became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: MPG has become profitable over the past 5 years, growing earnings by -62.6% per year.

Accelerating Growth: MPG has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: MPG has become profitable in the last year, making it difficult to compare its past year earnings growth to the Building industry (39.4%).


Return on Equity

High ROE: MPG's Return on Equity (10.2%) is considered low.


Financial Health

How is Metro Performance Glass's financial position?


Financial Position Analysis

Short Term Liabilities: MPG's short term assets (NZ$66.5M) exceed its short term liabilities (NZ$39.0M).

Long Term Liabilities: MPG's short term assets (NZ$66.5M) do not cover its long term liabilities (NZ$114.8M).


Debt to Equity History and Analysis

Debt Level: MPG's debt to equity ratio (67.9%) is considered high.

Reducing Debt: MPG's debt to equity ratio has increased from 34.9% to 67.9% over the past 5 years.

Debt Coverage: MPG's debt is well covered by operating cash flow (53.2%).

Interest Coverage: MPG's interest payments on its debt are not well covered by EBIT (1.8x coverage).


Balance Sheet


Dividend

What is Metro Performance Glass's current dividend yield, its reliability and sustainability?

6.22%

Forecast Dividend Yield


Dividend Yield vs Market

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

High Dividend: Unable to evaluate MPG'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 MPG's dividends per share have been stable in the past.

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


Current Payout to Shareholders

Dividend Coverage: MPG is not paying a notable dividend for the NZ market.


Future Payout to Shareholders

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


Next Steps

Management

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

3.4yrs

Average management tenure


CEO

Simon Mander

2.92yrs

Tenure

NZ$676,132

Compensation

Mr. Simon J. Mander has been the Chief Executive Officer at Metro Performance Glass Limited since November 19, 2018. Mr. Mander served as Planning Director at Lion Breweries New Zealand for 2 years as and...


CEO Compensation Analysis

Compensation vs Market: Simon's total compensation ($USD485.45K) is about average for companies of similar size in the NZ market ($USD377.73K).

Compensation vs Earnings: Simon's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: MPG's management team is considered experienced (3.4 years average tenure).


Board Members

Experienced Board: MPG's board of directors are not considered experienced ( 2.7 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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Metro Performance Glass Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Metro Performance Glass Limited
  • Ticker: MPG
  • Exchange: NZSE
  • Founded: 1987
  • Industry: Building Products
  • Sector: Capital Goods
  • Market Cap: NZ$78.786m
  • Shares outstanding: 185.38m
  • Website: https://www.metroglass.co.nz

Number of Employees


Location

  • Metro Performance Glass Limited
  • 5 Lady Fisher Place
  • Highbrook
  • Auckland
  • 2013
  • New Zealand

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/22 06:01
End of Day Share Price2021/10/22 00:00
Earnings2021/03/31
Annual Earnings2021/03/31


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.