Executive Summary
Maxcom S.A. manufactures and sells telecommunication devices for home needs worldwide.
Rewards
Risk Analysis
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
| MXC | Industry | Market | |
|---|---|---|---|
| 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 Year | n/a | 30.8%24.9% | -6.5%-13.1% |
| 5 Year | n/a | 93.6%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
2 weeks ago | Simply Wall St
What Kind Of Investor Owns Most Of Maxcom S.A. (WSE:MXC)?1 month ago | Simply Wall St
Should You Use Maxcom's (WSE:MXC) Statutory Earnings To Analyse It?2 months ago | Simply Wall St
Is Maxcom S.A.'s (WSE:MXC) P/E Ratio Really That Good?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
- Examine whether Maxcom is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
- Maxcom competitive advantages and company strategy can generally be found in its financial reports archived here.
- Explore growth companies in the Tech industry.
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
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President of Management Board | 3.6yrs | no data | 63.91% PLN24.7m | |
| Member of Supervisory Board | 2.9yrs | no data | 0.00019% PLN73.4 | |
| Vice Chairman of Supervisory Board | 3.6yrs | no data | no data | |
| Member of Supervisory Board | 3.6yrs | no data | no data | |
| Member of Supervisory Board | 3.6yrs | no data | no data | |
| Member of Supervisory Board | 3.6yrs | no data | no 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
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| MXC | WSE (Warsaw Stock Exchange) | Yes | Common Bearer Shares | PL | PLN | Jun 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
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/24 00:11 |
| End of Day Share Price | 2020/02/21 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.