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MIDS

Midsummer OM:MIDS Stock Report

Last Price

kr12.10

Market Cap

kr819.7m

7D

0.7%

1Y

0.3%

Updated

07 Aug, 2022

Data

Company Financials +
MIDS fundamental analysis
Snowflake Score
Valuation2/6
Future Growth2/6
Past Performance0/6
Financial Health3/6
Dividends0/6

MIDS Stock Overview

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

Midsummer Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Midsummer
Historical stock prices
Current Share Pricekr12.10
52 Week Highkr18.58
52 Week Lowkr8.55
Beta0.026
1 Month Change16.12%
3 Month Change21.73%
1 Year Change0.33%
3 Year Change-58.20%
5 Year Changen/a
Change since IPO-46.58%

Recent News & Updates

May 10
Does Midsummer (STO:MIDS) Have A Healthy Balance Sheet?

Does Midsummer (STO:MIDS) Have A Healthy Balance Sheet?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...

Dec 07
Is Midsummer (STO:MIDS) A Risky Investment?

Is Midsummer (STO:MIDS) A Risky Investment?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Shareholder Returns

MIDSSE SemiconductorSE Market
7D0.7%-0.3%-2.3%
1Y0.3%-48.7%-23.1%

Return vs Industry: MIDS exceeded the Swedish Semiconductor industry which returned -48.7% over the past year.

Return vs Market: MIDS exceeded the Swedish Market which returned -23.1% over the past year.

Price Volatility

Is MIDS's price volatile compared to industry and market?
MIDS volatility
MIDS Average Weekly Movement6.2%
Semiconductor Industry Average Movement7.6%
Market Average Movement7.3%
10% most volatile stocks in SE Market12.9%
10% least volatile stocks in SE Market4.6%

Stable Share Price: MIDS is not significantly more volatile than the rest of Swedish stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: MIDS's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/a103Sven Lindströmhttps://www.midsummer.se

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 platform 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.

Midsummer Fundamentals Summary

How do Midsummer's earnings and revenue compare to its market cap?
MIDS fundamental statistics
Market Capkr819.67m
Earnings (TTM)-kr52.38m
Revenue (TTM)kr120.73m

6.8x

P/S Ratio

-15.6x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MIDS income statement (TTM)
Revenuekr120.73m
Cost of Revenuekr96.39m
Gross Profitkr24.34m
Other Expenseskr76.72m
Earnings-kr52.38m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 31, 2022

Earnings per share (EPS)-0.77
Gross Margin20.16%
Net Profit Margin-43.39%
Debt/Equity Ratio67.8%

How did MIDS perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is MIDS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MIDS?

Other financial metrics that can be useful for relative valuation.

MIDS key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue7.6x
Enterprise Value/EBITDA-44.9x
PEG Ration/a

Price to Sales Ratio vs Peers

How does MIDS's PS Ratio compare to its peers?

MIDS PS Ratio vs Peers
The above table shows the PS ratio for MIDS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average12.9x
OBDU B Obducat
4.2xn/akr219.3m
SMOL Smoltek Nanotech Holding
32.8xn/akr217.2m
SIVE Sivers Semiconductors
12.2x56.0%kr2.0b
A196490 DA TechnologyLtd
2.4xn/a₩114.9b
MIDS Midsummer
6.8x41.7%kr819.7m

Price-To-Sales vs Peers: MIDS is good value based on its Price-To-Sales Ratio (6.8x) compared to the peer average (12.9x).


Price to Earnings Ratio vs Industry

How does MIDS's PE Ratio compare vs other companies in the European Semiconductor Industry?

Price-To-Sales vs Industry: MIDS is good value based on its Price-To-Sales Ratio (6.8x) compared to the Swedish Semiconductor industry average (9.5x)


Price to Sales Ratio vs Fair Ratio

What is MIDS's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MIDS PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio6.8x
Fair PS Ratio3x

Price-To-Sales vs Fair Ratio: MIDS is expensive based on its Price-To-Sales Ratio (6.8x) compared to the estimated Fair Price-To-Sales Ratio (3x).


Share Price vs Fair Value

What is the Fair Price of MIDS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate MIDS's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate MIDS's fair value for valuation analysis.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

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

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


41.7%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if MIDS's forecast earnings growth is above the savings rate (0.4%).

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

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

Revenue vs Market: MIDS's revenue (41.7% per year) is forecast to grow faster than the Swedish market (10.9% per year).

High Growth Revenue: MIDS's revenue (41.7% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MIDS is forecast to be unprofitable in 3 years.


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Past Performance

How has Midsummer performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-65.1%

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 65.1% 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 (59.9%).


Return on Equity

High ROE: MIDS has a negative Return on Equity (-17.65%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is Midsummer's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: MIDS's short term assets (SEK360.5M) exceed its short term liabilities (SEK34.3M).

Long Term Liabilities: MIDS's short term assets (SEK360.5M) exceed its long term liabilities (SEK204.9M).


Debt to Equity History and Analysis

Debt Level: MIDS's net debt to equity ratio (30.2%) is considered satisfactory.

Reducing Debt: MIDS's debt to equity ratio has increased from 12.5% to 67.8% 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: MIDS has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: MIDS has less than a year of cash runway if free cash flow continues to reduce at historical rates of 31.5% each year


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Dividend

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

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

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.


Earnings Payout to Shareholders

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


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as MIDS has not reported any payouts.


Discover strong dividend paying companies

Management

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

1.6yrs

Average board tenure


CEO

Sven Lindström (54 yo)

no data

Tenure

kr3,067,000

Compensation

Mr. Sven Lindström is the Co-Founder of Midsummer AB and serves as its Chief Executive Officer and has been its Director since 2004. Prior to Midsummer AB, Mr. Lindström worked in the optical disc industry...


CEO Compensation Analysis

Compensation vs Market: Insufficient data to establish whether Sven's total compensation is reasonable compared to companies of similar size in the Swedish market.

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


Board Members

Experienced Board: MIDS's board of directors are not considered experienced ( 1.6 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: 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 been diluted in the past year, with total shares outstanding growing by 14.5%.


Top Shareholders

Company Information

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


Key Information

  • Name: Midsummer AB (publ)
  • Ticker: MIDS
  • Exchange: OM
  • Founded: NaN
  • Industry: Semiconductor Equipment
  • Sector: Semiconductors
  • Implied Market Cap: kr819.671m
  • Shares outstanding: 67.74m
  • Website: https://www.midsummer.se

Number of Employees


Location

  • Midsummer AB (publ)
  • Elektronikhojden 6
  • Järfälla
  • Stockholm County
  • 175 43
  • Sweden

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/07 00:00
End of Day Share Price2022/08/05 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.