Byggmax Group (OM:BMAX) - Share price, News & Analysis

BMAX fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	4/6
Financial Health	5/6
Dividends	5/6

BMAX Stock Overview

Byggmax Group AB (publ) sells building materials and related products for DIY projects in Sweden, Norway, and internationally.

Rewards

PE ratio (6.3x) is below the Swedish market (17.5x)

Earnings have grown 29.2% per year over the past 5 years

Risk Analysis

Earnings are forecast to decline by an average of 24.3% per year for the next 3 years

Unstable dividend track record

Byggmax Group Competitors

Kesko Oyj

HLSE:KESKOB

€9.2b

HORNBACH Holding KGaA

XTRA:HBH

€1.8b

HORNBACH Baumarkt

XTRA:HBM

€1.6b

BHG Group

OM:BHG

kr7.4b

Price History & Performance

Summary of all time highs, changes and price drops for Byggmax Group
Historical stock prices
Current Share Price	kr65.05
52 Week High	kr93.95
52 Week Low	kr58.00
Beta	1.16
1 Month Change	-15.52%
3 Month Change	0.77%
1 Year Change	-10.03%
3 Year Change	78.02%
5 Year Change	12.16%
Change since IPO	34.12%

Shareholder Returns

	BMAX	SE Specialty Retail	SE Market
7D	-2.8%	-2.4%	0.3%
1Y	-10.0%	-37.9%	-12.7%

Return vs Industry: BMAX exceeded the Swedish Specialty Retail industry which returned -37.9% over the past year.

Return vs Market: BMAX underperformed the Swedish Market which returned -8.8% over the past year.

Price Volatility

Is BMAX's price volatile compared to industry and market?
BMAX volatility
BMAX Average Weekly Movement	6.7%
Specialty Retail Industry Average Movement	6.2%
Market Average Movement	7.8%
10% most volatile stocks in SE Market	13.1%
10% least volatile stocks in SE Market	5.0%

Stable Share Price: BMAX is not significantly more volatile than the rest of Swedish stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: BMAX's weekly volatility (7%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1993	1,277	Mattias Ankarberg	https://www.byggmax.se

Byggmax Group AB (publ) sells building materials and related products for DIY projects in Sweden, Norway, and internationally. The company offers timber, board materials, garden products, tools, paint, and other products. As of December 31, 2021, it operates 192 stores, including 123 stores in Sweden, 56 stores in Norway, 9 in Finland, and 4 in Denmark, as well as 11 showrooms with Skånska Byggvaror concept.

Byggmax Group Fundamentals Summary

How do Byggmax Group's earnings and revenue compare to its market cap?
BMAX fundamental statistics
Market Cap	kr3.81b
Earnings (TTM)	kr609.00m
Revenue (TTM)	kr7.81b

6.3x

P/E Ratio

0.5x

P/S Ratio

Is BMAX overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
BMAX income statement (TTM)
Revenue	kr7.81b
Cost of Revenue	kr5.12b
Gross Profit	kr2.68b
Other Expenses	kr2.07b
Earnings	kr609.00m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Jul 15, 2022

Earnings per share (EPS)	10.39
Gross Margin	34.37%
Net Profit Margin	7.80%
Debt/Equity Ratio	37.9%

How did BMAX perform over the long term?

See historical performance and comparison

Dividends

6.1%

Current Dividend Yield

39%

Payout Ratio

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

6.26x

Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: BMAX (SEK65.05) is trading above our estimate of fair value (SEK52.81)

Significantly Below Fair Value: BMAX is trading above our estimate of fair value.

Price To Earnings Ratio

PE vs Industry: BMAX is good value based on its PE Ratio (6.3x) compared to the Swedish Specialty Retail industry average (16.4x).

PE vs Market: BMAX is good value based on its PE Ratio (6.3x) compared to the Swedish market (17.5x).

Price to Earnings Growth Ratio

PEG Ratio: BMAX's earnings are forecast to decline next year, so we can't calculate its PEG ratio.

Price to Book Ratio

PB vs Industry: BMAX is good value based on its PB Ratio (1.7x) compared to the SE Specialty Retail industry average (2.7x).

Future Growth

How is Byggmax Group forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

-24.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: BMAX's earnings are forecast to decline over the next 3 years (-24.3% per year).

Earnings vs Market: BMAX's earnings are forecast to decline over the next 3 years (-24.3% per year).

High Growth Earnings: BMAX's earnings are forecast to decline over the next 3 years.

Revenue vs Market: Insufficient data to determine if BMAX's revenue is forecast to grow faster than the Swedish market.

High Growth Revenue: Insufficient data to determine if BMAX's revenue is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if BMAX's Return on Equity is forecast to be high in 3 years time

Past Performance

How has Byggmax Group performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

29.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BMAX has high quality earnings.

Growing Profit Margin: BMAX's current net profit margins (7.8%) are higher than last year (7.6%).

Past Earnings Growth Analysis

Earnings Trend: BMAX's earnings have grown significantly by 29.2% per year over the past 5 years.

Accelerating Growth: BMAX's earnings growth over the past year (14.5%) is below its 5-year average (29.2% per year).

Earnings vs Industry: BMAX earnings growth over the past year (14.5%) underperformed the Specialty Retail industry 35.7%.

Return on Equity

High ROE: BMAX's Return on Equity (27%) is considered high.

Financial Health

How is Byggmax Group's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: BMAX's short term assets (SEK2.0B) do not cover its short term liabilities (SEK3.0B).

Long Term Liabilities: BMAX's short term assets (SEK2.0B) exceed its long term liabilities (SEK1.3B).

Debt to Equity History and Analysis

Debt Level: BMAX's net debt to equity ratio (35.1%) is considered satisfactory.

Reducing Debt: BMAX's debt to equity ratio has reduced from 64.6% to 37.9% over the past 5 years.

Debt Coverage: BMAX's debt is well covered by operating cash flow (86.3%).

Interest Coverage: BMAX's interest payments on its debt are well covered by EBIT (20.2x coverage).

Balance Sheet

Dividend

What is Byggmax Group current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

6.15%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: BMAX's dividend (6.15%) is higher than the bottom 25% of dividend payers in the Swedish market (1.44%).

High Dividend: BMAX's dividend (6.15%) is in the top 25% of dividend payers in the Swedish market (4.81%)

Stability and Growth of Payments

Stable Dividend: BMAX's dividend payments have been volatile in the past 10 years.

Growing Dividend: BMAX's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (39.5%), BMAX's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (48.8%), BMAX's dividend payments are well covered by cash flows.

Discover strong dividend paying companies

Management

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

4.5yrs

Average management tenure

CEO

Mattias Ankarberg (46 yo)

5.5yrs

Tenure

kr12,900,000

Compensation

Mr. Mattias Ankarberg has been the Chief Executive Officer and President at Byggmax Group AB (publ) since November 14, 2016. Mr. Ankarberg serves as a Director of Thule Group AB (publ) since 2018. He serve...

CEO Compensation Analysis

Compensation vs Market: Mattias's total compensation ($USD1.29M) is above average for companies of similar size in the Swedish market ($USD543.82K).

Compensation vs Earnings: Mattias's compensation has increased by more than 20% in the past year.

Leadership Team

Experienced Management: BMAX's management team is considered experienced (4.5 years average tenure).

Board Members

Experienced Board: BMAX'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: BMAX 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.

Data	Last Updated (UTC time)
Company Analysis	2022/05/22 00:00
End of Day Share Price	2022/05/20 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31