Executive Summary
Gapwaves AB (publ) provides wireless communication products.
Risk Analysis
Shareholders have been substantially diluted in the past year
Currently unprofitable and not forecast to become profitable over the next 3 years
+ 1 more risk
Snowflake Analysis
Excellent balance sheet with weak fundamentals.
Share Price & News
How has Gapwaves's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: GAPW B's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
-3.5%
GAPW B
-1.4%
SE Communications
2.0%
SE Market
1 Year Return
41.8%
GAPW B
7.4%
SE Communications
21.6%
SE Market
Return vs Industry: GAPW B exceeded the Swedish Communications industry which returned 7.4% over the past year.
Return vs Market: GAPW B exceeded the Swedish Market which returned 21.6% over the past year.
Shareholder returns
| GAPW B | Industry | Market | |
|---|---|---|---|
| 7 Day | -3.5% | -1.4% | 2.0% |
| 30 Day | -15.0% | -0.9% | -0.4% |
| 90 Day | -15.4% | 11.1% | 6.7% |
| 1 Year | 41.8%41.8% | 8.6%7.4% | 26.7%21.6% |
| 3 Year | 67.5%62.5% | 69.5%61.6% | 32.8%12.4% |
| 5 Year | n/a | 9.8%-2.9% | 62.5%27.6% |
Price Volatility Vs. Market
How volatile is Gapwaves's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
We Think Gapwaves (STO:GAPW B) Can Afford To Drive Business Growth1 month ago | Simply Wall St
Should You Be Concerned About Gapwaves AB (publ)'s (STO:GAPW B) Historical Volatility?2 months ago | Simply Wall St
The Gapwaves (STO:GAPW B) Share Price Has Gained 50% And Shareholders Are Hoping For MoreValuation
Is Gapwaves undervalued compared to its fair value and its price relative to the market?
11.52x
Price to Book (PB) ratio
Share Price vs. Fair Value
Below Fair Value: Insufficient data to calculate GAPW B's fair value to establish if it is undervalued.
Significantly Below Fair Value: Insufficient data to calculate GAPW B's fair value to establish if it is undervalued.
Price To Earnings Ratio
PE vs Industry: GAPW B is unprofitable, so we can't compare its PE Ratio to the Communications industry average.
PE vs Market: GAPW B 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 GAPW B's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: GAPW B is overvalued based on its PB Ratio (11.5x) compared to the SE Communications industry average (1.8x).
Next Steps
Future Growth
How is Gapwaves forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
25.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: GAPW B is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: GAPW B is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: GAPW B is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: Insufficient data to determine if GAPW B's revenue is forecast to grow faster than the Swedish market.
High Growth Revenue: Insufficient data to determine if GAPW B's revenue is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: GAPW B is forecast to be unprofitable in 3 years.
Next Steps
Past Performance
How has Gapwaves performed over the past 5 years?
-39.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: GAPW B is currently unprofitable.
Growing Profit Margin: GAPW B is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: GAPW B is unprofitable, and losses have increased over the past 5 years at a rate of -39% per year.
Accelerating Growth: Unable to compare GAPW B's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: GAPW B is unprofitable, making it difficult to compare its past year earnings growth to the Communications industry (49.1%).
Return on Equity
High ROE: GAPW B has a negative Return on Equity (-73.89%), as it is currently unprofitable.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Gapwaves's financial position?
Financial Position Analysis
Short Term Liabilities: GAPW B's short term assets (SEK55.4M) exceed its short term liabilities (SEK13.5M).
Long Term Liabilities: GAPW B's short term assets (SEK55.4M) exceed its long term liabilities (SEK2.8M).
Debt to Equity History and Analysis
Debt Level: GAPW B's debt to equity ratio (7.5%) is considered satisfactory.
Reducing Debt: Insufficient data to determine if GAPW B's debt to equity ratio has reduced over the past 5 years.
Balance Sheet
Inventory Level: GAPW B has a low level of unsold assets or inventory.
Debt Coverage by Assets: GAPW B's debt is covered by short term assets (assets are 13.5x debt).
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: GAPW B has sufficient cash runway for more than a year based on its current free cash flow.
Forecast Cash Runway: GAPW B has sufficient cash runway for 1.180417 years if free cash flow continues to reduce at historical rates of -20.9% each year.
Next Steps
Dividend
What is Gapwaves's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: Unable to evaluate GAPW B's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate GAPW B's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if GAPW B's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if GAPW B'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 GAPW B's dividend in 3 years as they are not forecast to pay a notable one for the Swedish market.
Next Steps
Management
What is the CEO of Gapwaves's salary, the management and board of directors tenure and is there insider trading?
2.9yrs
Average board tenure
CEO
Lars-Inge Sjöqvist (61yo)
0yrs
Tenure
Mr. Lars-Inge Sjöqvist serves as Chief Executive Officer of Gapwaves AB (publ) and was its Director since 2014 until April 2019. Mr. Sjöqvist served as the Chief Executive Officer of Semcon AB. He served a ...
Board Age and Tenure
2.9yrs
Average Tenure
62yo
Average Age
Experienced Board: GAPW B's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Shares | 2,500 |
| Max Price | kr29.95 |
| Entity | Individual |
| Role | Chief Executive Officer Chief Executive Officer |
| Shares | 20,000 |
| Max Price | kr18.64 |
Ownership Breakdown
Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 82.3%.
Management Team
Lars-Inge Sjöqvist (61yo)
Chief Executive Officer
- Tenure: 0yrs
Thomas Emanuelsson (61yo)
Chief Technology Officer
- Tenure: 0yrs
Per Andersson (36yo)
Chief Financial Officer
- Tenure: 0yrs
Martin Lundkvist (48yo)
Vice President Sales & Marketing
- Tenure: 0yrs
Board Members
Jan Wäreby (63yo)
Independent Director
- Tenure: 2.9yrs
Jonas Ehinger (50yo)
Chairman
- Tenure: 0.9yrs
Cécile Schilliger (69yo)
Director
- Tenure: 3.9yrs
Ahmad Kishk
Member of the Advisory Board
- Tenure: 0yrs
Stefano Maci
Member of the Advisory Board
- Tenure: 0yrs
Torbjörn Gustafsson (43yo)
Independent Director
- Tenure: 0.9yrs
Olle Axelsson (62yo)
Independent Director
- Tenure: 2.9yrs
Company Information
Gapwaves AB (publ)'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Gapwaves AB (publ)
- Ticker: GAPW B
- Exchange: OM
- Founded: 2011
- Industry: Communications Equipment
- Sector: Tech
- Market Cap: kr699.664m
- Shares outstanding: 26.91m
- Website: https://www.gapwaves.com
Location
- Gapwaves AB (publ)
- Banehagsgatan 22
- Gothenburg
- Västra Götaland County
- 414 51
- Sweden
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| GAPW B | OM (OMX Nordic Exchange Stockholm) | Yes | Class B Shares | SE | SEK | Nov 2016 |
| 0GF1 | LSE (London Stock Exchange) | Yes | Class B Shares | GB | SEK | Nov 2016 |
Biography
Gapwaves AB (publ) provides wireless communication products. It offers solutions for base stations, microwave radios, automotive radars, and space communications. The company was founded in 2011 and is bas ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/12/10 22:59 |
| End of Day Share Price | 2019/12/10 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.