WSE:MXC

Stock Analysis Report

Executive Summary

Maxcom S.A. manufactures and sells telecommunication devices for home needs worldwide.


Snowflake Analysis

Undervalued with excellent balance sheet.

Share Price & News

How has Maxcom's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MXC has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-3.3%

MXC

-2.0%

PL Tech

-0.7%

PL Market


1 Year Return

-35.3%

MXC

6.8%

PL Tech

-8.9%

PL Market

Return vs Industry: MXC underperformed the Polish Tech industry which returned 6.8% over the past year.

Return vs Market: MXC underperformed the Polish Market which returned -8.9% over the past year.


Shareholder returns

MXCIndustryMarket
7 Day-3.3%-2.0%-0.7%
30 Day-6.5%-5.9%-1.7%
90 Day-9.4%1.5%-0.6%
1 Year-29.2%-35.3%8.4%6.8%-6.2%-8.9%
3 Yearn/a30.8%24.9%-6.5%-13.1%
5 Yearn/a93.6%70.8%0.5%-12.1%

Price Volatility Vs. Market

How volatile is Maxcom's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Maxcom undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MXC (PLN14.5) is trading below our estimate of fair value (PLN558.59)

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


Price To Earnings Ratio

PE vs Industry: MXC is good value based on its PE Ratio (6.1x) compared to the Tech industry average (25.5x).

PE vs Market: MXC is good value based on its PE Ratio (6.1x) compared to the Polish market (12.1x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MXC's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: MXC is good value based on its PB Ratio (0.6x) compared to the XE Tech industry average (1.4x).


Next Steps

Future Growth

How is Maxcom forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

17.8%

Forecasted Tech industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Maxcom has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Maxcom performed over the past 5 years?

11.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MXC has high quality earnings.

Growing Profit Margin: MXC's current net profit margins (4.8%) are lower than last year (9.1%).


Past Earnings Growth Analysis

Earnings Trend: MXC's earnings have grown by 11.2% per year over the past 5 years.

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

Earnings vs Industry: MXC had negative earnings growth (-37.8%) over the past year, making it difficult to compare to the Tech industry average (-8.4%).


Return on Equity

High ROE: MXC's Return on Equity (10%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Maxcom's financial position?


Financial Position Analysis

Short Term Liabilities: MXC's short term assets (PLN72.8M) exceed its short term liabilities (PLN11.2M).

Long Term Liabilities: MXC's short term assets (PLN72.8M) exceed its long term liabilities (PLN567.0K).


Debt to Equity History and Analysis

Debt Level: MXC's debt to equity ratio (4.8%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if MXC's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: MXC's debt is well covered by operating cash flow (505.7%).

Interest Coverage: MXC's interest payments on its debt are well covered by EBIT (8.9x coverage).


Balance Sheet

Inventory Level: MXC has a high level of physical assets or inventory.

Debt Coverage by Assets: MXC's debt is covered by short term assets (assets are 22.3x debt).


Next Steps

Dividend

What is Maxcom's current dividend yield, its reliability and sustainability?

13.79%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MXC's dividend (13.79%) is higher than the bottom 25% of dividend payers in the Polish market (2.29%).

High Dividend: MXC's dividend (13.79%) is in the top 25% of dividend payers in the Polish market (6.62%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, MXC has been paying a dividend for less than 10 years.

Growing Dividend: MXC's dividend payments have increased, but the company has only paid a dividend for 2 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (83.7%), MXC's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

3.6yrs

Average board tenure


CEO

Arkadiusz Wilusz (52yo)

3.6yrs

Tenure

Mr. Arkadiusz Wilusz has been the President of Management Board at Maxcom S.A. since July 13, 2016. Mr. Wilusz holds Master of Economy from Economy University in Katowice. 


CEO Compensation Analysis

Compensation vs Market: Arkadiusz's total compensation ($USD0.00) is below average for companies of similar size in the Polish market ($USD155.95K).

Compensation vs Earnings: Insufficient data to compare Arkadiusz's compensation with company performance.


Board Members

NamePositionTenureCompensationOwnership
Arkadiusz Wilusz
President of Management Board3.6yrsno data63.91% PLN24.7m
Aleksander Wilusz
Member of Supervisory Board2.9yrsno data0.00019% PLN73.4
Edyta Wilusz
Vice Chairman of Supervisory Board3.6yrsno datano data
Mariusz Ciesla
Member of Supervisory Board3.6yrsno datano data
Adam Grzys
Member of Supervisory Board3.6yrsno datano data
Agnieszka Jableka
Member of Supervisory Board3.6yrsno datano data

3.6yrs

Average Tenure

44.5yo

Average Age

Experienced Board: MXC's board of directors are considered experienced (3.6 years average tenure).


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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Maxcom S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Maxcom S.A.
  • Ticker: MXC
  • Exchange: WSE
  • Founded:
  • Industry: Technology Hardware, Storage and Peripherals
  • Sector: Tech
  • Market Cap: zł38.610m
  • Shares outstanding: 2.70m
  • Website: https://www.maxcom.pl

Location

  • Maxcom S.A.
  • ul. Towarowa 23a
  • Tychy
  • 43-100
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MXCWSE (Warsaw Stock Exchange)YesCommon Bearer SharesPLPLNJun 2017

Biography

Maxcom S.A. manufactures and sells telecommunication devices for home needs worldwide. The company offers GSM mobile phones, wired and wireless telephones, PMR walkie-talkie radios, and GPS satellite navigation devices. It also provides other brand products, such as Motorola baby monitors, PMRs walkie talkies, smart nursery care systems, corded telephones, as well as accessories by CELLY. The company sells its products through telecommunication operators, retail chains, distributors, dealers, and sales agents, as well as through its online stores and auction portals. Maxcom S.A. is based in Tychy, Poland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/24 00:11
End of Day Share Price2020/02/21 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.