Loading...

Mycronic

OM:MYCR
Snowflake Description

Solid track record with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MYCR
OM
SEK12B
Market Cap
  1. Home
  2. SE
  3. Tech
Company description

Mycronic AB (publ), together with its subsidiaries, develops, manufactures, and sells production equipment to the electronics industry. The last earnings update was 23 days ago. More info.


Add to Portfolio Compare Print
MYCR Share Price and Events
7 Day Returns
-1.1%
OM:MYCR
0.6%
SE Electronic
0.8%
SE Market
1 Year Returns
23.5%
OM:MYCR
4.1%
SE Electronic
-0.6%
SE Market
MYCR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Mycronic (MYCR) -1.1% -8.5% -11% 23.5% 102.7% 543.8%
SE Electronic 0.6% -4.2% 2.7% 4.1% 24.2% 114.9%
SE Market 0.8% -1.8% 2.4% -0.6% 14.3% 18.2%
1 Year Return vs Industry and Market
  • MYCR outperformed the Electronic industry which returned 4.1% over the past year.
  • MYCR outperformed the Market in Sweden which returned -0.6% over the past year.
Price Volatility
MYCR
Industry
5yr Volatility vs Market

Value

 Is Mycronic undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Mycronic to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Mycronic.

OM:MYCR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.7%
Perpetual Growth Rate 10-Year SE Government Bond Rate 0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OM:MYCR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SE Govt Bond Rate 0.4%
Equity Risk Premium S&P Global 6%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.053 (1 + (1- 22%) (1.43%))
1.044
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.04
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.43% + (1.044 * 5.96%)
6.65%

Discounted Cash Flow Calculation for OM:MYCR using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Mycronic is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

OM:MYCR DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SEK, Millions) Source Present Value
Discounted (@ 6.65%)
2019 903.50 Analyst x2 847.13
2020 711.00 Analyst x2 625.05
2021 666.67 Analyst x3 549.51
2022 642.39 Est @ -3.64% 496.46
2023 626.85 Est @ -2.42% 454.23
2024 617.05 Est @ -1.56% 419.23
2025 611.10 Est @ -0.96% 389.29
2026 607.78 Est @ -0.54% 363.01
2027 606.25 Est @ -0.25% 339.51
2028 605.98 Est @ -0.05% 318.18
Present value of next 10 years cash flows SEK4,801.61
OM:MYCR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SEK605.98 × (1 + 0.43%) ÷ (6.65% – 0.43%)
SEK9,784.95
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SEK9,784.95 ÷ (1 + 6.65%)10
SEK5,137.84
OM:MYCR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SEK4,801.61 + SEK5,137.84
SEK9,939.45
Equity Value per Share
(SEK)
= Total value / Shares Outstanding
= SEK9,939.45 / 97.92
SEK101.51
OM:MYCR Discount to Share Price
Calculation Result
Value per share (SEK) From above. SEK101.51
Current discount Discount to share price of SEK119.10
= -1 x (SEK119.10 - SEK101.51) / SEK101.51
-17.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Mycronic is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Mycronic's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Mycronic's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OM:MYCR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in SEK SEK9.81
OM:MYCR Share Price ** OM (2019-05-17) in SEK SEK119.1
Sweden Electronic Industry PE Ratio Median Figure of 18 Publicly-Listed Electronic Companies 21.69x
Sweden Market PE Ratio Median Figure of 323 Publicly-Listed Companies 16.73x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Mycronic.

OM:MYCR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OM:MYCR Share Price ÷ EPS (both in SEK)

= 119.1 ÷ 9.81

12.14x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mycronic is good value based on earnings compared to the SE Electronic industry average.
  • Mycronic is good value based on earnings compared to the Sweden market.
Price based on expected Growth
Does Mycronic's expected growth come at a high price?
Raw Data
OM:MYCR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.14x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-13.5%per year
Sweden Electronic Industry PEG Ratio Median Figure of 15 Publicly-Listed Electronic Companies 1.72x
Sweden Market PEG Ratio Median Figure of 235 Publicly-Listed Companies 1.36x

*Line of best fit is calculated by linear regression .

OM:MYCR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.14x ÷ -13.5%

-0.9x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mycronic earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Mycronic's assets?
Raw Data
OM:MYCR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in SEK SEK28.01
OM:MYCR Share Price * OM (2019-05-17) in SEK SEK119.1
Sweden Electronic Industry PB Ratio Median Figure of 33 Publicly-Listed Electronic Companies 2.9x
Sweden Market PB Ratio Median Figure of 567 Publicly-Listed Companies 2.46x
OM:MYCR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OM:MYCR Share Price ÷ Book Value per Share (both in SEK)

= 119.1 ÷ 28.01

4.25x

* Primary Listing of Mycronic.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mycronic is overvalued based on assets compared to the SE Electronic industry average.
X
Value checks
We assess Mycronic's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electronic industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electronic industry average (and greater than 0)? (1 check)
  5. Mycronic has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Mycronic expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-13.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Mycronic expected to grow at an attractive rate?
  • Mycronic's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.4%.
Growth vs Market Checks
  • Mycronic's earnings are expected to decrease over the next 1-3 years, this is below the Sweden market average.
  • Mycronic's revenue growth is positive but not above the Sweden market average.
Annual Growth Rates Comparison
Raw Data
OM:MYCR Future Growth Rates Data Sources
Data Point Source Value (per year)
OM:MYCR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -13.5%
OM:MYCR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 0.1%
Sweden Electronic Industry Earnings Growth Rate Market Cap Weighted Average 10.9%
Sweden Electronic Industry Revenue Growth Rate Market Cap Weighted Average 6.9%
Sweden Market Earnings Growth Rate Market Cap Weighted Average 8.5%
Sweden Market Revenue Growth Rate Market Cap Weighted Average 4.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OM:MYCR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OM:MYCR Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 4,230 1
2021-12-31 3,993 799 660 3
2020-12-31 3,824 773 639 3
2019-12-31 4,053 967 835 3
OM:MYCR Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2019-03-31 4,135 768 961
2018-12-31 3,781 702 790
2018-09-30 3,656 225 893
2018-06-30 3,050 587 589
2018-03-31 3,073 785 657
2017-12-31 3,001 984 627
2017-09-30 3,090 967 702
2017-06-30 3,096 576 773
2017-03-31 2,653 350 614
2016-12-31 2,319 462 526
2016-09-30 1,925 540 416
2016-06-30 2,033 712 529

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Mycronic's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Mycronic's revenue is expected to grow by 0.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OM:MYCR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Mycronic Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:MYCR Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 6.74 8.20 5.33 3.00
2020-12-31 6.52 8.10 4.87 3.00
2019-12-31 8.54 8.90 7.98 3.00
OM:MYCR Past Financials Data
Date (Data in SEK Millions) EPS *
2019-03-31 9.81
2018-12-31 8.06
2018-09-30 9.12
2018-06-30 6.02
2018-03-31 6.71
2017-12-31 6.40
2017-09-30 7.17
2017-06-30 7.90
2017-03-31 6.27
2016-12-31 5.37
2016-09-30 4.25
2016-06-30 5.40

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Mycronic is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Mycronic's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Sweden market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Sweden market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Mycronic has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Mycronic performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Mycronic's growth in the last year to its industry (Electronic).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Mycronic has delivered over 20% year on year earnings growth in the past 5 years.
  • Mycronic's 1-year earnings growth exceeds its 5-year average (46.4% vs 32.7%)
  • Mycronic's earnings growth has exceeded the SE Electronic industry average in the past year (46.4% vs 21.9%).
Earnings and Revenue History
Mycronic's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Mycronic Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:MYCR Past Revenue, Cash Flow and Net Income Data
Date (Data in SEK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 4,135.40 960.90 678.30 501.50
2018-12-31 3,780.60 789.50 648.90 476.10
2018-09-30 3,655.76 892.77 608.29 439.60
2018-06-30 3,050.36 589.27 549.99 409.70
2018-03-31 3,073.26 656.57 520.69 368.60
2017-12-31 3,001.16 626.67 491.19 348.00
2017-09-30 3,090.25 701.90 480.99 354.31
2017-06-30 3,096.15 773.10 459.29 342.31
2017-03-31 2,653.35 613.70 410.59 352.41
2016-12-31 2,319.25 526.30 376.59 348.41
2016-09-30 1,924.66 415.68 300.64 316.92
2016-06-30 2,032.66 528.78 282.34 311.02
2016-03-31 1,854.86 447.68 277.24 282.32
2015-12-31 1,814.96 442.48 271.14 266.72
2015-09-30 1,850.10 479.65 283.01 250.28
2015-06-30 1,583.30 282.05 275.91 234.98
2015-03-31 1,536.80 284.15 265.11 221.28
2014-12-31 1,475.00 266.25 253.91 197.68
2014-09-30 1,143.09 67.95 241.30 182.27
2014-06-30 1,024.89 37.25 234.70 170.97
2014-03-31 1,012.99 24.85 234.60 174.07
2013-12-31 996.99 13.75 227.90 183.37
2013-09-30 1,153.93 105.43 227.30 200.57
2013-06-30 1,210.53 -36.47 262.50 259.87
2013-03-31 1,285.03 -45.97 272.40 272.17
2012-12-31 1,353.93 -43.97 291.20 289.97
2012-09-30 1,241.78 -188.03 311.41 305.70
2012-06-30 1,295.08 -47.93 287.21 276.40

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Mycronic has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Mycronic used its assets more efficiently than the SE Electronic industry average last year based on Return on Assets.
  • Mycronic's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Mycronic's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electronic industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Mycronic has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Mycronic's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Mycronic's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Mycronic is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Mycronic's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Mycronic's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 16.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Mycronic Company Filings, last reported 1 month ago.

OM:MYCR Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,743.10 166.40 872.50
2018-12-31 2,379.00 1.30 828.60
2018-09-30 2,228.50 0.90 215.90
2018-06-30 1,900.10 154.30 306.40
2018-03-31 1,953.20 13.30 808.40
2017-12-31 1,800.35 12.64 812.67
2017-09-30 1,544.80 12.20 741.60
2017-06-30 1,540.10 13.00 258.20
2017-03-31 1,525.10 9.50 368.70
2016-12-31 1,411.61 10.74 208.59
2016-09-30 1,111.60 0.00 786.30
2016-06-30 986.40 0.00 700.70
2016-03-31 1,299.10 0.00 1,156.70
2015-12-31 1,268.23 0.00 897.73
2015-09-30 1,074.70 0.00 699.90
2015-06-30 843.70 0.00 455.00
2015-03-31 1,229.20 0.00 869.00
2014-12-31 1,207.10 0.00 660.95
2014-09-30 965.80 0.00 473.10
2014-06-30 1,178.20 0.00 546.00
2014-03-31 1,167.30 0.00 481.80
2013-12-31 1,165.43 0.00 487.29
2013-09-30 1,133.10 0.40 516.90
2013-06-30 1,138.80 1.10 529.20
2013-03-31 1,147.20 1.50 569.90
2012-12-31 1,168.29 2.31 581.08
2012-09-30 1,051.60 3.30 511.70
2012-06-30 1,205.90 4.40 455.60
  • Mycronic's level of debt (6.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 6.1% today).
  • Debt is well covered by operating cash flow (461.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 144.7x coverage).
X
Financial health checks
We assess Mycronic's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Mycronic has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.52%
Current annual income from Mycronic dividends. Estimated to be 2.55% next year.
If you bought SEK2,000 of Mycronic shares you are expected to receive SEK50 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Mycronic's pays a higher dividend yield than the bottom 25% of dividend payers in Sweden (1.79%).
  • Mycronic's dividend is below the markets top 25% of dividend payers in Sweden (4.39%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OM:MYCR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Sweden Electronic Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 1.3%
Sweden Market Average Dividend Yield Market Cap Weighted Average of 243 Stocks 3.2%
Sweden Minimum Threshold Dividend Yield 10th Percentile 1.1%
Sweden Bottom 25% Dividend Yield 25th Percentile 1.8%
Sweden Top 25% Dividend Yield 75th Percentile 4.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OM:MYCR Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 3.14 3.00
2020-12-31 2.91 3.00
2019-12-31 3.07 3.00
OM:MYCR Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2019-05-09 3.000 2.486
2018-04-09 2.500 2.313
2018-02-07 2.500 2.378
2017-03-24 2.000 2.271
2016-03-31 4.000 4.654
2015-03-31 4.000 6.623

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mycronic has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Mycronic has only been paying a dividend for 4 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Mycronic's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.2x coverage).
X
Income/ dividend checks
We assess Mycronic's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Mycronic afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Mycronic has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Mycronic's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Lena Olving
COMPENSATION SEK10,593,000
AGE 62
TENURE AS CEO 5.8 years
CEO Bio

Ms. Lena Olving, B.Sc. (Mech. Eng.)., M.Sc. (Mech.Eng.), has been Chief Executive Officer and President of Mycronic AB (publ) since July 15, 2013. She served as its Acting Senior Vice President of Operational Excellence. Ms. Olving served as Chief Operating Officer of Saab AB (publ) from January 1, 2010 to June 30, 2013 and also its Deputy Chief Executive Officer until June 30, 2013. She served as Executive Vice President of Saab AB since July 17, 2008. She served as Member of its Group Management since November 1, 2008. She served as Head of Systems and Products Segment of Saab AB since July 17, 2008. She serves as Business Group Chairman of Systems&Products Saab AB, She is a Member of the corporate management of Volvo Personvagnar. She served as Senior Vice President of Process & Operational Excellence of Volvo Car Corporation and a Member of its Executive Management Team since 2002. She spent over 20 years in various posts at Volvo Car, including five years in Asia as Manager of Volvo Car's operation in Southeast Asia and a period as President and Chief Executive Officer of Samhall Högland AB. From 1997 to 2002, she held central management positions for Volvo in Asia. She served as Quality & Customer Satisfaction Director of Volvo Car Corporation (VCC). She serves as Deputy Chairman of Saab AB. She has been a Member of Board of Director at Investment AB Latour (publ) since 2016. She serves as a Board member of Kungliga Ingenjörsvetenskapsakademin (Royal Swedish Academy of Engineering). She has been a Director of Munters AB since 2017. She has been Independent Director of Munters Group AB (publ) since 2017. She serves as a Board Member of Teknikföretagen and Kollegiet för svensk bolagsstyrning. She served as a Non-Executive Director of SJ AB from May 2011 to April 29, 2015. She served as a Director of Novozymes A/S from March 1, 2011 to February 24, 2016. She served as a Director of Alfa Laval AB (publ) since December 2002, Green Cargo AB since May 2008 and Gunnebo AB since 2004. She served as a Director of Norsk Hydro ASA from May 2006 to September 2007. She served as a Director of Alfa Laval (India) Ltd. since 2002. She is a Chartered Engineer. Ms. Olving holds a Master of Sciences Degree in Mechanical Engineering from Chalmers University in Gothenburg in 1981. She also holds a Bachelor of Science degree.

CEO Compensation
  • Lena's compensation has increased by more than 20% in the past year.
  • Lena's remuneration is higher than average for companies of similar size in Sweden.
Management Team Tenure

Average tenure and age of the Mycronic management team in years:

3.8
Average Tenure
53.5
Average Age
  • The tenure for the Mycronic management team is about average.
Management Team

Lena Olving

TITLE
CEO & President
COMPENSATION
SEK11M
AGE
62
TENURE
5.8 yrs

Anders Lindqvist

TITLE
President & CEO

Torbjörn Wingårdh

TITLE
CFO & Senior VP
AGE
54
TENURE
2.4 yrs

Martin Pettersson

TITLE
Senior Vice President of Operations
AGE
38
TENURE
3.3 yrs

Sven Chetkovich

TITLE
Acting Director of IR & Corporate Communications

Anette Mullis

TITLE
Senior Vice President of Human Resources
AGE
53
TENURE
0.8 yrs

Charlott Samuelsson

TITLE
AGE
55
TENURE
23.3 yrs

Niklas Edling

TITLE
Senior Vice President of Strategy & Portfolio Management.
AGE
55
TENURE
6.3 yrs

Johan Franzén

TITLE
Senior Vice President of Research & Development
AGE
40
TENURE
4.2 yrs

Thomas Stetter

TITLE
Senior VP & GM of Business Area Assembly Solutions
AGE
53
TENURE
2.3 yrs
Board of Directors Tenure

Average tenure and age of the Mycronic board of directors in years:

7.3
Average Tenure
55
Average Age
  • The tenure for the Mycronic board of directors is about average.
Board of Directors

Patrik Tigerschiöld

TITLE
Chairman of the Board
COMPENSATION
SEK580K
AGE
54
TENURE
7.3 yrs

Anna Belfrage

TITLE
Independent Board Member
AGE
56
TENURE
1 yrs

Katarina Bonde

TITLE
Independent Director
COMPENSATION
SEK250K
AGE
60
TENURE
9.1 yrs

Ulla-Britt Fräjdin-Hellqvist

TITLE
Independent Director
COMPENSATION
SEK280K
AGE
64
TENURE
7.3 yrs

Johan Densjö

TITLE
Employee Representative Director
AGE
47

Robert Larsson

TITLE
Independent Board Member
AGE
51
TENURE
1 yrs

Jörgen Lundberg

TITLE
Employee Representative Director

Staffan Dahlstr

TITLE
Director
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (SEK) Value (SEK)
15. Feb 19 Buy Charlott Samuelsson Individual 15. Feb 19 15. Feb 19 530 SEK134.00 SEK71,020
14. Feb 19 Buy Torbjörn Wingårdh Individual 14. Feb 19 14. Feb 19 1,900 SEK129.60 SEK246,240
14. Feb 19 Buy Lena Olving Individual 12. Feb 19 12. Feb 19 1,100 SEK127.80 SEK140,580
13. Feb 19 Buy Martin Pettersson Individual 13. Feb 19 13. Feb 19 600 SEK130.00 SEK78,000
12. Feb 19 Buy Johan Franzén Individual 12. Feb 19 12. Feb 19 600 SEK127.60 SEK76,560
11. Feb 19 Sell Niklas Edling Individual 07. Feb 19 07. Feb 19 -54,000 SEK126.79 SEK-6,846,660
11. Feb 19 Buy Niklas Edling Individual 11. Feb 19 11. Feb 19 545 SEK129.40 SEK70,523
09. Feb 19 Sell Thomas Stetter Individual 07. Feb 19 07. Feb 19 -1,000 SEK131.14 SEK-131,140
23. Jul 18 Buy Thomas Stetter Individual 23. Jul 18 23. Jul 18 1,000 SEK88.50 SEK88,500
11. Jun 18 Buy Lena Olving Individual 07. Jun 18 07. Jun 18 2,000 SEK102.70 SEK205,400
08. Jun 18 Buy Thomas Stetter Individual 08. Jun 18 08. Jun 18 985 SEK102.20 SEK100,667
07. Jun 18 Buy Torbjörn Wingårdh Individual 07. Jun 18 07. Jun 18 1,100 SEK101.80 SEK111,980
07. Jun 18 Buy Niklas Edling Individual 07. Jun 18 07. Jun 18 1,000 SEK100.90 SEK100,900
07. Jun 18 Buy Charlott Samuelsson Individual 05. Jun 18 05. Jun 18 990 SEK101.00 SEK99,580
05. Jun 18 Buy Martin Pettersson Individual 05. Jun 18 05. Jun 18 1,000 SEK101.20 SEK101,200
04. Jun 18 Buy Johan Franzén Individual 04. Jun 18 04. Jun 18 1,000 SEK100.30 SEK100,300
X
Management checks
We assess Mycronic's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Mycronic has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

What Kind Of Shareholder Owns Most Mycronic AB (publ) (STO:MYCR) Stock?

Our analysis of the ownership of the company, below, shows that institutions own shares in the company. … View our latest analysis for Mycronic OM:MYCR Ownership Summary, May 17th 2019 What Does The Institutional Ownership Tell Us About Mycronic? … Insider Ownership Of Mycronic While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders.

Simply Wall St -

How Mycronic AB (publ) (STO:MYCR) Can Impact Your Portfolio Volatility

Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

Is Mycronic AB (publ) (STO:MYCR) Worth kr130 Based On Its Intrinsic Value?

I will use the Discounted Cash Flow (DCF) model. … If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model. … We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows

Simply Wall St -

Should You Like Mycronic AB (publ)’s (STO:MYCR) High Return On Capital Employed?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … What is Return On Capital Employed (ROCE)? … The formula for calculating the return on capital employed is:

Simply Wall St -

Should You Care About Mycronic AB (publ)’s (STO:MYCR) Cash Levels?

I will take you through Mycronic’s cash flow health and the risk-return concept based on the stock’s cash flow yield, using the most recent financial data. … Mycronic’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure. … The two ways to assess whether Mycronic’s FCF is sufficient, is to compare the FCF yield to the market index yield, as well as determine whether the top-line operating cash flows will continue to grow

Simply Wall St -

Why Mycronic AB (publ) (STO:MYCR) Could Be Your Next Investment

I've been keeping an eye on Mycronic AB (publ) (STO:MYCR) because I'm attracted to its fundamentals. … Looking at the company as a whole, as a potential stock investment, I believe MYCR has a lot to offer. … is a company with great financial health as well as a.

Simply Wall St -

Is Mycronic AB (publ)'s (STO:MYCR) ROE Of 33% Impressive?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … That means that for every SEK1 worth of shareholders' equity, it generated SEK0.33 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

What Should You Know About Mycronic AB (publ)'s (STO:MYCR) Earnings Trend?

In December 2018, Mycronic AB (publ) (STO:MYCR) released its latest earnings announcement, whicha … signalled

Simply Wall St -

Investors Who Bought Mycronic Shares Five Years Ago Are Now Up 755%

Then look at the Mycronic AB (publ) (STO:MYCR) share price. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During five years of share price growth, Mycronic achieved compound earnings per share (EPS) growth of 125% per year.

Simply Wall St -

Does Mycronic AB (publ)'s (STO:MYCR) P/E Ratio Signal A Buying Opportunity?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … Mycronic has a price to earnings ratio of 16.45, based on the last twelve months. … How Do I Calculate Mycronic's Price To Earnings Ratio

Simply Wall St -

Company Info

Description

Mycronic AB (publ), together with its subsidiaries, develops, manufactures, and sells production equipment to the electronics industry. The company operates in two segments, Assembly Solutions and Pattern Generators. The Assembly Solutions segment offers flexible equipment for the application of solder paste onto circuit boards and other mounting fluids used in electronics manufacturing; storage towers for logistics; assembly robots for mounting of electronic components onto circuit boards; inspection equipment; and equipment for assembling and testing of camera modules. Its aftermarket offerings include service and maintenance, training, application development, upgrades, and accessories. This segment also provides software products and support for electronics manufacturing. The Pattern Generators offers mask writers for manufacturing of photo masks, which are used for manufacturing displays for tablets, smart phones, TVs and computers, and other products; and measuring machines for inspection of photo masks. This segment also provides aftermarket services, such as upgrades and maintenance for utilization of production equipment. It serves contract manufacturers, and manufacturers of their end products in industrial electronics, as well as aviation, aerospace, automotive, energy, medical, IT and telecom industries; and manufacturers of photomasks. The company sells its products through agents and distributors in Sweden, rest of Europe, the Americas, Asia, and internationally. The company was formerly known as Micronic Mydata AB (publ) and changed its name to Mycronic AB (publ) in June 2014. Mycronic AB (publ) is headquartered in Täby, Sweden.

Details
Name: Mycronic AB (publ)
MYCR
Exchange: OM
Founded:
SEK11,661,856,221
97,916,509
Website: http://www.mycronic.com
Address: Mycronic AB (publ)
Nytorpsvägen 9,
Box 3141,
Täby,
Stockholm County, 183 03,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM MYCR Ordinary Shares OMX Nordic Exchange Stockholm SE SEK 09. Mar 2000
OTCPK MICL.F Ordinary Shares Pink Sheets LLC US USD 09. Mar 2000
DB MLT Ordinary Shares Deutsche Boerse AG DE EUR 09. Mar 2000
LSE 0MQG Ordinary Shares London Stock Exchange GB SEK 09. Mar 2000
BATS-CHIXE MYCRS Ordinary Shares BATS 'Chi-X Europe' GB SEK 09. Mar 2000
Number of employees
Current staff
Staff numbers
1,276
Mycronic employees.
Industry
Electronic Equipment and Instruments
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/18 20:50
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/06
Last earnings filing: 2019/04/25
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.