OM:MTRS

Stock Analysis Report

Executive Summary

Munters Group AB (publ) provides energy efficient air treatment and climate solutions for commercial and industrial applications in Sweden, the United States, Germany, China, and internationally.


Snowflake Analysis

Acceptable track record with moderate growth potential.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-9.1%

MTRS

-5.4%

SE Building

-5.3%

SE Market


1 Year Return

14.1%

MTRS

25.5%

SE Building

15.2%

SE Market

Return vs Industry: MTRS underperformed the Swedish Building industry which returned 25.5% over the past year.

Return vs Market: MTRS underperformed the Swedish Market which returned 15.2% over the past year.


Shareholder returns

MTRSIndustryMarket
7 Day-9.1%-5.4%-5.3%
30 Day-8.6%-3.6%-2.2%
90 Day-2.6%4.5%3.7%
1 Year14.1%14.1%27.5%25.5%19.8%15.2%
3 Yearn/a52.6%45.0%31.7%11.8%
5 Yearn/a79.1%64.4%41.3%11.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

15.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MTRS (SEK46) is trading below our estimate of fair value (SEK54.11)

Significantly Below Fair Value: MTRS is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: MTRS is poor value based on its PE Ratio (29.7x) compared to the Building industry average (20x).

PE vs Market: MTRS is poor value based on its PE Ratio (29.7x) compared to the Swedish market (19.1x).


Price to Earnings Growth Ratio

PEG Ratio: MTRS is poor value based on its PEG Ratio (1.5x)


Price to Book Ratio

PB vs Industry: MTRS is good value based on its PB Ratio (2.3x) compared to the SE Building industry average (2.7x).


Next Steps

Future Growth

How is Munters Group forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

20.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MTRS's forecast earnings growth (20.2% per year) is above the savings rate (-0.4%).

Earnings vs Market: MTRS's earnings (20.2% per year) are forecast to grow faster than the Swedish market (8% per year).

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

Revenue vs Market: MTRS's revenue (3.8% per year) is forecast to grow slower than the Swedish market (4.6% per year).

High Growth Revenue: MTRS's revenue (3.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MTRS's Return on Equity is forecast to be low in 3 years time (14%).


Next Steps

Past Performance

How has Munters Group performed over the past 5 years?

40.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MTRS has high quality earnings.

Growing Profit Margin: MTRS became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: MTRS has become profitable over the past 5 years, growing earnings by 40% per year.

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

Earnings vs Industry: MTRS has become profitable in the last year, making it difficult to compare its past year earnings growth to the Building industry (30.1%).


Return on Equity

High ROE: MTRS's Return on Equity (7.8%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Munters Group's financial position?


Financial Position Analysis

Short Term Liabilities: MTRS's short term assets (SEK3.0B) exceed its short term liabilities (SEK2.2B).

Long Term Liabilities: MTRS's short term assets (SEK3.0B) do not cover its long term liabilities (SEK4.2B).


Debt to Equity History and Analysis

Debt Level: MTRS's debt to equity ratio (84.9%) is considered high.

Reducing Debt: MTRS's debt to equity ratio has reduced from 869.1% to 84.9% over the past 5 years.

Debt Coverage: MTRS's debt is well covered by operating cash flow (21.7%).

Interest Coverage: MTRS's interest payments on its debt are not well covered by EBIT (2.9x coverage).


Balance Sheet

Inventory Level: MTRS has a low level of unsold assets or inventory.

Debt Coverage by Assets: MTRS's debt is not covered by short term assets (assets are 1x debt).


Next Steps

Dividend

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

1.94%

Forecast Dividend Yield


Dividend Yield vs Market

company0%marketbottom25%1.7%markettop25%4.4%industryaverage1.6%forecastin3Years1.9%

Current dividend yield vs market & industry

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

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


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: MTRS is not paying a notable dividend for the Swedish market.


Future Payout to Shareholders

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


Next Steps

Management

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

0.5yrs

Average management tenure


CEO

Klas Forsström (52yo)

0.5yrs

Tenure

0

Mr. Klas Forsström is President and Chief Executive Officer at Munters Group AB (publ) since August 12, 2019. Mr. Forsström served as the President of Sandvik Machining Solutions AB since April 1, 2017 unt ...


Leadership Team

NamePositionTenureCompensationOwnership
Klas Forsström
President & CEO0.5yrsno datano data
Annette Kumlien
Group VP & CFO0.5yrsno datano data
Katarina Lindström
Group Vice President of Global Operations1.9yrsno data0.0055% SEK468.4k
Ann-Sofi Jönsson
Head of Investor Relations0.5yrsno datano data
Sofia Gellar
Group Vice President of Human Resources1.4yrsno datano data
Peter Gisel-Ekdahl
President of Business Area AirTech0.3yrsno data0.11% SEK9.0m
Johan Ekeström
Interim President of FoodTech0.3yrsno datano data

0.5yrs

Average Tenure

52yo

Average Age

Experienced Management: MTRS's management team is not considered experienced ( 0.5 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Magnus Lindquist
Independent Chairman of the Board1.2yrskr63.00kno data
Lena Olving
Independent Director3.1yrskr475.00k0.00028% SEK23.8k
Helen Gillstedt
Independent Director3yrskr538.00k0.0022% SEK187.4k
Juan Vargues
Independent Director1.1yrsno datano data
Pia Nordqvist
Employee Representative Director16.1yrsno datano data
Kristian Sildeby
Director2.8yrskr392.00k0.0033% SEK281.0k
Erik Näsvik
Director9.1yrskr513.00kno data
Johan Ek
Director1.2yrskr306.00kno data
Per Hallius
Independent Director7.1yrskr400.00k0.046% SEK3.9m
Simon Henriksson
Deputy Employee Representative Director3.1yrsno data0.00019% SEK16.2k

3.0yrs

Average Tenure

53.5yo

Average Age

Experienced Board: MTRS's board of directors are considered experienced (3 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.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Munters Group AB (publ)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Munters Group AB (publ)
  • Ticker: MTRS
  • Exchange: OM
  • Founded: 1955
  • Industry: Building Products
  • Sector: Capital Goods
  • Market Cap: kr8.517b
  • Shares outstanding: 181.75m
  • Website: https://www.munters.com

Number of Employees


Location

  • Munters Group AB (publ)
  • Box 1188
  • Kista
  • Stockholm County
  • 164 26
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1MSDB (Deutsche Boerse AG)YesNew Common SharesDEEURMay 2017
0RPOLSE (London Stock Exchange)YesNew Common SharesGBSEKMay 2017
MTRSOM (OMX Nordic Exchange Stockholm)YesNew Common SharesSESEKMay 2017
MTRSBSBATS-CHIXE (BATS 'Chi-X Europe')YesNew Common SharesGBSEKMay 2017
MTRSSBATS-CHIXE (BATS 'Chi-X Europe')YesNew Common SharesGBSEKMay 2017
MMNN.FOTCPK (Pink Sheets LLC)YesNew Common SharesUSUSDMay 2017

Biography

Munters Group AB (publ) provides energy efficient air treatment and climate solutions for commercial and industrial applications in Sweden, the United States, Germany, China, and internationally. The company operates through four segments: Air Treatment, Data Centers, AgHort, and Mist Elimination. It offers air intakes/air inlets, temperature and humidity control products, coolers and humidifiers, dehumidifiers, fans and light traps, heaters, heat exchangers, mist eliminators, mass transfer equipment, and pollution control and VOC abatement products. The company also provides installation support, startup and commissioning, training, maintenance, and rotor performance check and replacement services, as well as upgrades and spare parts, and rental solutions. It serves agriculture, automotive, chemical processing, commercial and public building, construction, data center and telecom cooling, defense and aerospace, education, electronics, food and beverage, general and production, greenhouse, healthcare, pharmaceutical, power generation and distribution, recreation and leisure, retail and supermarket, shipbuilding and marine, steel, temporary structure, and water and waste water; oil, gas, and petroleum; pulp, paper, and printing; and storage, preservation, and archives industries. Munters Group AB (publ) was founded in 1955 and is headquartered in Kista, Sweden. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/25 23:11
End of Day Share Price2020/02/25 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.