OM:MIDS

Stock Analysis Report

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Executive Summary

Midsummer AB (publ) develops and supplies equipment for manufacturing CIGS thin film solar cells in Sweden.


Snowflake Analysis

Imperfect balance sheet and overvalued.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

9.2%

MIDS

7.7%

SE Semiconductor

3.4%

SE Market


1 Year Return

-42.7%

MIDS

-36.9%

SE Semiconductor

5.4%

SE Market

Return vs Industry: MIDS underperformed the Swedish Semiconductor industry which returned -36.9% over the past year.

Return vs Market: MIDS underperformed the Swedish Market which returned 5.4% over the past year.


Shareholder returns

MIDSIndustryMarket
7 Day9.2%7.7%3.4%
30 Day3.6%1.4%6.6%
90 Day17.6%5.7%-5.9%
1 Year-42.7%-42.7%-36.7%-36.9%6.8%5.4%
3 Yearn/a62.9%51.0%10.7%-4.3%
5 Yearn/a112.0%88.8%25.7%1.4%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

6.12x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate MIDS's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate MIDS's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: MIDS is unprofitable, so we can't compare its PE Ratio to the Semiconductor industry average.

PE vs Market: MIDS is unprofitable, so we can't compare its PE Ratio to the Swedish market.


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: MIDS is good value based on its PB Ratio (6.1x) compared to the SE Semiconductor industry average (6.1x).


Next Steps

Future Growth

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

23.4%

Forecasted Semiconductors 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 Midsummer 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 Midsummer performed over the past 5 years?

-24.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MIDS is currently unprofitable.

Growing Profit Margin: MIDS is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: MIDS is unprofitable, and losses have increased over the past 5 years at a rate of -24% per year.

Accelerating Growth: Unable to compare MIDS's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MIDS is unprofitable, making it difficult to compare its past year earnings growth to the Semiconductor industry (-20.9%).


Return on Equity

High ROE: MIDS has a negative Return on Equity (-46.47%), as it is currently unprofitable.


Next Steps

Financial Health

How is Midsummer's financial position?


Financial Position Analysis

Short Term Liabilities: MIDS's short term assets (SEK258.0M) exceed its short term liabilities (SEK34.1M).

Long Term Liabilities: MIDS's short term assets (SEK258.0M) exceed its long term liabilities (SEK213.4M).


Debt to Equity History and Analysis

Debt Level: MIDS's debt to equity ratio (209.4%) is considered high.

Reducing Debt: MIDS's debt to equity ratio has increased from 22.1% to 209.4% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Insufficient data to determine if MIDS has enough cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if MIDS has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

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


Dividend Yield vs Market

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

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

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


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

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

kr2m

CEO Compensation


CEO

Sven Lindström (51yo)

no data

Tenure

kr2,081,011

Compensation

Mr. Sven Lindström is one of the founders of Midsummer AB and serves as its Chief Executive Officer and Director. Prior to founding Midsummer AB, Mr. Lindström worked in the optical disc industry. He start ...


CEO Compensation Analysis

Compensation vs Market: Sven's total compensation ($USD215.65K) is about average for companies of similar size in the Swedish market ($USD214.64K).

Compensation vs Earnings: Sven's compensation has increased whilst the company is unprofitable.


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

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


Key Information

  • Name: Midsummer AB (publ)
  • Ticker: MIDS
  • Exchange: OM
  • Founded:
  • Industry: Semiconductor Equipment
  • Sector: Semiconductors
  • Market Cap: kr618.044m
  • Shares outstanding: 30.90m
  • Website: https://www.midsummer.se

Location

  • Midsummer AB (publ)
  • Elektronikhojden 6
  • Jarfalla
  • 175 43
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MIDSOM (OMX Nordic Exchange Stockholm)YesCommon SharesSESEKJun 2018

Biography

Midsummer AB (publ) develops and supplies equipment for manufacturing CIGS thin film solar cells in Sweden. It offers Duo, a fully automatic deposition system for CIGS solar cell manufacturing; UNO, a research and development system for CIGS and CZTS solar cells; and flexible and lightweight modules for PV applications in membrane roofs, portable power plants, marine installations, vehicle usage, landfill covers, or other infrastructure projects. The company is headquartered in Järfälla, Sweden. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/28 09:09
End of Day Share Price2020/05/27 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.