OM:BMAX

Stock Analysis Report

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Executive Summary

Byggmax Group AB (publ) sells building materials for common maintenance and DIY projects.


Snowflake Analysis

Proven track record with imperfect balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: BMAX's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

20.0%

BMAX

1.5%

SE Specialty Retail

2.9%

SE Market


1 Year Return

69.0%

BMAX

-13.8%

SE Specialty Retail

11.7%

SE Market

Return vs Industry: BMAX exceeded the Swedish Specialty Retail industry which returned -17% over the past year.

Return vs Market: BMAX exceeded the Swedish Market which returned 8.5% over the past year.


Shareholder returns

BMAXIndustryMarket
7 Day20.0%1.5%2.9%
30 Day25.6%-1.5%9.9%
90 Day87.7%12.6%23.3%
1 Year69.0%69.0%-11.8%-13.8%13.4%11.7%
3 Year-9.8%-14.4%-24.5%-34.4%26.0%12.5%
5 Year-16.8%-26.6%-46.0%-55.9%41.0%13.3%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

20.84x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BMAX (SEK56.3) is trading above our estimate of fair value (SEK34.95)

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


Price To Earnings Ratio

PE vs Industry: BMAX is poor value based on its PE Ratio (20.8x) compared to the SE Specialty Retail industry average (18.3x).

PE vs Market: BMAX is poor value based on its PE Ratio (20.8x) compared to the Swedish market (19.8x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: BMAX is good value based on its PB Ratio (2.4x) compared to the SE Specialty Retail industry average (3x).


Next Steps

Future Growth

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

2.5%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if BMAX's forecast earnings growth is above the savings rate (0.5%).

Earnings vs Market: Insufficient data to determine if BMAX's earnings are forecast to grow faster than the Swedish market

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

Revenue vs Market: BMAX's revenue (2.5% per year) is forecast to grow slower than the Swedish market (6.2% per year).

High Growth Revenue: BMAX's revenue (2.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BMAX's Return on Equity is forecast to be low in 3 years time (10.6%).


Next Steps

Past Performance

How has Byggmax Group performed over the past 5 years?

-14.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BMAX has high quality earnings.

Growing Profit Margin: BMAX's current net profit margins (3%) are higher than last year (2.6%).


Past Earnings Growth Analysis

Earnings Trend: BMAX's earnings have declined by 14.4% per year over the past 5 years.

Accelerating Growth: BMAX's earnings growth over the past year (22.2%) exceeds its 5-year average (-14.4% per year).

Earnings vs Industry: BMAX earnings growth over the past year (22.2%) exceeded the Specialty Retail industry -3.9%.


Return on Equity

High ROE: BMAX's Return on Equity (11.5%) is considered low.


Next Steps

Financial Health

How is Byggmax Group's financial position?


Financial Position Analysis

Short Term Liabilities: BMAX's short term assets (SEK1.3B) do not cover its short term liabilities (SEK2.3B).

Long Term Liabilities: BMAX's short term assets (SEK1.3B) do not cover its long term liabilities (SEK1.4B).


Debt to Equity History and Analysis

Debt Level: BMAX's debt to equity ratio (55.4%) is considered high.

Reducing Debt: BMAX's debt to equity ratio has increased from 42.6% to 55.4% over the past 5 years.

Debt Coverage: BMAX's debt is well covered by operating cash flow (69.1%).

Interest Coverage: BMAX's interest payments on its debt are well covered by EBIT (5.5x coverage).


Balance Sheet


Next Steps

Dividend

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

4.47%

Forecast Dividend Yield


Dividend Yield vs Market

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

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

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


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of BMAX'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?

2.8yrs

Average management tenure


CEO

Mattias Ankarberg (44yo)

3.67yrs

Tenure

kr8,000,000

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 ($USD882.98K) is above average for companies of similar size in the Swedish market ($USD668.50K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Mattias Ankarberg
President & CEO3.67yrskr8.00m0.18% SEK6.2m
Helena Nathhorst
Chief Financial Officer0.58yrno datano data
Oskar Röös
Chief Information Officer2.5yrsno data0.0033% SEK112.6k
Mikael Bengtsson
Country Manager & Head of Expansion0.83yrno datano data
Sarah König
Head of Group Expansion2.75yrsno datano data
Johan Quist
Head of Store Development & Head of E-commerce3.5yrsno data0.0069% SEK238.0k
Niklas Hamberg
Head of Supply Chain3.5yrsno data0.0013% SEK45.0k
Oscar Tjärnberg
President & CEO of Skã¥Nska Byggvaror Division2.75yrsno data0.17% SEK5.9m

2.8yrs

Average Tenure

45yo

Average Age

Experienced Management: BMAX's management team is considered experienced (2.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Anders Moberg
Independent Chairman5.17yrskr600.00k0.57% SEK19.7m
Gunilla Spongh
Director1.17yrskr300.00kno data
Lars Ljungälv
Director0.17yrno datano data
Daniel Mühlbach
Independent Director5.17yrskr300.00k0.0098% SEK337.9k
Anders Berg
Director1.17yrskr200.00kno data
Hannele Kemppainen
Independent Director5.17yrskr300.00kno data
Kjersti Helen Hobøl
Director1.17yrskr200.00kno data

1.2yrs

Average Tenure

51yo

Average Age

Experienced Board: BMAX's board of directors are not considered experienced ( 1.2 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: 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.


Top Shareholders

Company Information

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


Key Information

  • Name: Byggmax Group AB (publ)
  • Ticker: BMAX
  • Exchange: OM
  • Founded: 1993
  • Industry: Home Improvement Retail
  • Sector: Retail
  • Market Cap: kr3.434b
  • Shares outstanding: 61.00m
  • Website: https://www.byggmax.se

Number of Employees


Location

  • Byggmax Group AB (publ)
  • ArmEgatan 38
  • Solna
  • Stockholm County
  • 171 71
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BMAXOM (OMX Nordic Exchange Stockholm)YesCommon SharesSESEKJun 2010
0MR4LSE (London Stock Exchange)YesCommon SharesGBSEKJun 2010
BYYDB (Deutsche Boerse AG)YesCommon SharesDEEURJun 2010
BMAXsBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBSEKJun 2010

Biography

Byggmax Group AB (publ) sells building materials for common maintenance and DIY projects. The company offers building materials, including lumber, insulation, sheets, boards, and paints. It operates 109 stores in Sweden, 42 stores in Norway, and 10 stores in Finland, as well as 11 showrooms with Skånska Byggvaror’s concept. The company also offers its products online. Byggmax Group AB (publ) was founded in 1993 and is headquartered in Solna, Sweden. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/15 20:49
End of Day Share Price2020/07/15 00:00
Earnings2020/03/31
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.