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MSAB

Micro Systemation OM:MSAB B Stock Report

Last Price

kr47.95

Market Cap

kr885.6m

7D

0.2%

1Y

-4.1%

Updated

06 Aug, 2022

Data

Company Financials +
MSAB B fundamental analysis
Snowflake Score
Valuation5/6
Future Growth5/6
Past Performance5/6
Financial Health6/6
Dividends0/6

MSAB B Stock Overview

Micro Systemation AB (publ) provides forensic technology for mobile device examination worldwide.

Micro Systemation Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Micro Systemation
Historical stock prices
Current Share Pricekr47.95
52 Week Highkr64.60
52 Week Lowkr33.50
Beta0.98
1 Month Change6.44%
3 Month Change-6.53%
1 Year Change-4.10%
3 Year Change70.64%
5 Year Change-20.42%
Change since IPO136.21%

Recent News & Updates

Shareholder Returns

MSAB BSE SoftwareSE Market
7D0.2%-2.5%-2.3%
1Y-4.1%-57.1%-23.1%

Return vs Industry: MSAB B exceeded the Swedish Software industry which returned -57.1% over the past year.

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

Price Volatility

Is MSAB B's price volatile compared to industry and market?
MSAB B volatility
MSAB B Average Weekly Movement5.6%
Software Industry Average Movement8.5%
Market Average Movement7.3%
10% most volatile stocks in SE Market12.9%
10% least volatile stocks in SE Market4.6%

Stable Share Price: MSAB B is less volatile than 75% of Swedish stocks over the past 3 months, typically moving +/- 6% a week.

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

About the Company

FoundedEmployeesCEOWebsite
1984193Joel Bollohttps://www.msab.com

Micro Systemation AB (publ) provides forensic technology for mobile device examination worldwide. The company offers XRY software that retrieves information, such as pictures, SMS, call history, contact lists, and application data from smart and mobile phones, 3G modems, GPS, and tablet devices. Its XRY software products include XRY logical, a software solution that enables investigators to access and recover live and file system data from the device right on the crime scene; XRY Physical, a software solution, which is used for the physical recovery of data from mobile devices; XRY Cloud to recover data beyond the mobile device; XRY PinPoint enables users to extract and decode data from non-standard mobile devices; XRY Camera, a hardware-based solution for forensic examiners to capture photos of the examined devices and screenshots to complement XRY reports; XRY Express that provides workflow for mobile device extractions, which enables processing by field-based investigators and others; and XRY Photon, a mobile examination tool that enables text search, filtering, and other types of analysis.

Micro Systemation Fundamentals Summary

How do Micro Systemation's earnings and revenue compare to its market cap?
MSAB B fundamental statistics
Market Capkr885.56m
Earnings (TTM)kr35.32m
Revenue (TTM)kr360.76m

25.1x

P/E Ratio

2.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MSAB B income statement (TTM)
Revenuekr360.76m
Cost of Revenuekr46.08m
Gross Profitkr314.69m
Other Expenseskr279.36m
Earningskr35.32m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Oct 26, 2022

Earnings per share (EPS)1.91
Gross Margin87.23%
Net Profit Margin9.79%
Debt/Equity Ratio0%

How did MSAB B perform over the long term?

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

Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings 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 MSAB B?

Other financial metrics that can be useful for relative valuation.

MSAB B 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/Revenue2.3x
Enterprise Value/EBITDA18.7x
PEG Ratio0.9x

Price to Earnings Ratio vs Peers

How does MSAB B's PE Ratio compare to its peers?

MSAB B PE Ratio vs Peers
The above table shows the PE ratio for MSAB B vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average33x
KENH Kentima Holding
23.9xn/akr100.6m
SLEEP Sleep Cycle
22.8x31.5%kr767.4m
4C 4C Group
24x19.8%kr1.2b
FPIP Formpipe Software
61.5x47.4%kr1.5b
MSAB B Micro Systemation
25.1x29.1%kr885.6m

Price-To-Earnings vs Peers: MSAB B is good value based on its Price-To-Earnings Ratio (25.1x) compared to the peer average (33x).


Price to Earnings Ratio vs Industry

How does MSAB B's PE Ratio compare vs other companies in the European Software Industry?

Price-To-Earnings vs Industry: MSAB B is good value based on its Price-To-Earnings Ratio (25.1x) compared to the Swedish Software industry average (27.7x)


Price to Earnings Ratio vs Fair Ratio

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

MSAB B PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio25.1x
Fair PE Ratio32.1x

Price-To-Earnings vs Fair Ratio: MSAB B is good value based on its Price-To-Earnings Ratio (25.1x) compared to the estimated Fair Price-To-Earnings Ratio (32.1x).


Share Price vs Fair Value

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

Below Fair Value: MSAB B (SEK47.95) is trading below our estimate of fair value (SEK136.25)

Significantly Below Fair Value: MSAB B is trading below fair value by more than 20%.


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 Micro Systemation forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


29.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MSAB B's forecast earnings growth (29.1% per year) is above the savings rate (0.4%).

Earnings vs Market: MSAB B's earnings (29.1% per year) are forecast to grow faster than the Swedish market (16.4% per year).

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

Revenue vs Market: MSAB B's revenue (12.7% per year) is forecast to grow faster than the Swedish market (10.9% per year).

High Growth Revenue: MSAB B's revenue (12.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MSAB B's Return on Equity is forecast to be very high in 3 years time (40.4%).


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Past Performance

How has Micro Systemation performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-17.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MSAB B has high quality earnings.

Growing Profit Margin: MSAB B's current net profit margins (9.8%) are higher than last year (6.1%).


Past Earnings Growth Analysis

Earnings Trend: MSAB B's earnings have declined by 17.6% per year over the past 5 years.

Accelerating Growth: MSAB B's earnings growth over the past year (96.7%) exceeds its 5-year average (-17.6% per year).

Earnings vs Industry: MSAB B earnings growth over the past year (96.7%) exceeded the Software industry 31.4%.


Return on Equity

High ROE: MSAB B's Return on Equity (35.3%) is considered high.


Discover strong past performing companies

Financial Health

How is Micro Systemation's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: MSAB B's short term assets (SEK195.6M) exceed its short term liabilities (SEK105.5M).

Long Term Liabilities: MSAB B's short term assets (SEK195.6M) exceed its long term liabilities (SEK5.4M).


Debt to Equity History and Analysis

Debt Level: MSAB B is debt free.

Reducing Debt: MSAB B has not had any debt for past 5 years.

Debt Coverage: MSAB B has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: MSAB B has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Micro Systemation 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


3.96%

Forecast Dividend Yield

Dividend Yield vs Market

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

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

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


Earnings Payout to Shareholders

Earnings Coverage: MSAB B is not paying a notable dividend for the Swedish market.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as MSAB B 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 management tenure


CEO

Joel Bollo (54 yo)

no data

Tenure

kr3,986,000

Compensation

Mr. Joel Bollö serves as Chief Executive Officer of Micro Systemation AB and served as its President until 2022. Mr. Bollö was Chief Executive Officer of DLX AB. Mr. Bollö was a Key Account Manager of Netw...


CEO Compensation Analysis

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

Compensation vs Earnings: Joel's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: MSAB B's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.


Board Members

Experienced Board: MSAB B's board of directors are not considered experienced ( 1.3 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

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


Key Information

  • Name: Micro Systemation AB (publ)
  • Ticker: MSAB B
  • Exchange: OM
  • Founded: 1984
  • Industry: Systems Software
  • Sector: Software
  • Implied Market Cap: kr885.560m
  • Shares outstanding: 18.47m
  • Website: https://www.msab.com

Number of Employees


Location

  • Micro Systemation AB (publ)
  • Hornsbruksgatan 28
  • Box 17111
  • Stockholm
  • Stockholm County
  • 104 62
  • Sweden

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/06 00:00
End of Day Share Price2022/08/05 00:00
Earnings2022/06/30
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.