Executive Summary
Mycronic AB (publ), together with its subsidiaries, develops, manufactures, and sells production equipment to the electronics industry.
Rewards
Risk Analysis
Snowflake Analysis
Excellent balance sheet and fair value.
Share Price & News
How has Mycronic's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: MYCR's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
11.3%
MYCR
11.9%
SE Electronic
7.3%
SE Market
1 Year Return
-0.5%
MYCR
-9.4%
SE Electronic
-6.6%
SE Market
Return vs Industry: MYCR exceeded the Swedish Electronic industry which returned -10.9% over the past year.
Return vs Market: MYCR exceeded the Swedish Market which returned -6.9% over the past year.
Shareholder returns
| MYCR | Industry | Market | |
|---|---|---|---|
| 7 Day | 11.3% | 11.9% | 7.3% |
| 30 Day | 1.3% | 1.2% | -2.6% |
| 90 Day | -28.0% | -17.2% | -17.3% |
| 1 Year | 1.9%-0.5% | -9.1%-9.4% | -4.7%-6.6% |
| 3 Year | 61.8%50.4% | 21.2%16.0% | 7.0%-8.2% |
| 5 Year | 199.4%143.5% | 52.0%40.6% | 15.3%-8.3% |
Price Volatility Vs. Market
How volatile is Mycronic's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 months ago | Simply Wall St
Here's Why Mycronic (STO:MYCR) Can Manage Its Debt Responsibly3 months ago | Simply Wall St
Should You Investigate Mycronic AB (publ) (STO:MYCR) At kr185?3 months ago | Simply Wall St
Does Mycronic AB (publ)'s (STO:MYCR) P/E Ratio Signal A Buying Opportunity?Valuation
Is Mycronic undervalued compared to its fair value and its price relative to the market?
2.1%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: MYCR (SEK132.7) is trading below our estimate of fair value (SEK135.52)
Significantly Below Fair Value: MYCR is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: MYCR is good value based on its PE Ratio (15.2x) compared to the Electronic industry average (17.6x).
PE vs Market: MYCR is good value based on its PE Ratio (15.2x) compared to the Swedish market (15.6x).
Price to Earnings Growth Ratio
PEG Ratio: MYCR is poor value based on its PEG Ratio (4.9x)
Price to Book Ratio
PB vs Industry: MYCR is overvalued based on its PB Ratio (4.4x) compared to the SE Electronic industry average (2.4x).
Next Steps
Future Growth
How is Mycronic forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
3.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MYCR's forecast earnings growth (3.1% per year) is above the savings rate (-0.4%).
Earnings vs Market: MYCR's earnings (3.1% per year) are forecast to grow slower than the Swedish market (8.9% per year).
High Growth Earnings: MYCR's earnings are forecast to grow, but not significantly.
Revenue vs Market: MYCR's revenue (4.6% per year) is forecast to grow faster than the Swedish market (4.2% per year).
High Growth Revenue: MYCR's revenue (4.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: MYCR's Return on Equity is forecast to be high in 3 years time (21%)
Next Steps
Past Performance
How has Mycronic performed over the past 5 years?
21.6%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MYCR has a high level of non-cash earnings.
Growing Profit Margin: MYCR's current net profit margins (19.9%) are lower than last year (20.9%).
Past Earnings Growth Analysis
Earnings Trend: MYCR's earnings have grown significantly by 21.6% per year over the past 5 years.
Accelerating Growth: MYCR's earnings growth over the past year (8.3%) is below its 5-year average (21.6% per year).
Earnings vs Industry: MYCR earnings growth over the past year (8.3%) underperformed the Electronic industry 8.3%.
Return on Equity
High ROE: MYCR's Return on Equity (28.8%) is considered high.
Next Steps
Financial Health
How is Mycronic's financial position?
Financial Position Analysis
Short Term Liabilities: MYCR's short term assets (SEK2.8B) exceed its short term liabilities (SEK1.3B).
Long Term Liabilities: MYCR's short term assets (SEK2.8B) exceed its long term liabilities (SEK532.0M).
Debt to Equity History and Analysis
Debt Level: MYCR's debt to equity ratio (10.7%) is considered satisfactory.
Reducing Debt: Insufficient data to determine if MYCR's debt to equity ratio has reduced over the past 5 years.
Debt Coverage: MYCR's debt is well covered by operating cash flow (171.4%).
Interest Coverage: MYCR's interest payments on its debt are well covered by EBIT (531x coverage).
Balance Sheet
Next Steps
Dividend
What is Mycronic's current dividend yield, its reliability and sustainability?
1.51%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: MYCR's dividend (1.51%) isn’t notable compared to the bottom 25% of dividend payers in the Swedish market (1.97%).
High Dividend: MYCR's dividend (1.51%) is low compared to the top 25% of dividend payers in the Swedish market (5.9%).
Stability and Growth of Payments
Stable Dividend: MYCR has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: MYCR has only been paying a dividend for 5 years, and since then payments have fallen.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (22.9%), MYCR's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MYCR's dividends in 3 years are forecast to be well covered by earnings (44% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
3.3yrs
Average management tenure
CEO
Anders Lindqvist (52yo)
0.92
Tenure
Mr. Anders Lindqvist has been President and Chief Executive Officer of Mycronic AB (publ) since May 16, 2019. Mr. Lindqvist's position was at Piab Group, where he served as Chief Executive Officer since 20 ...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President & CEO | 0.92yr | no data | no data | |
| CFO & Senior VP | 3.33yrs | no data | 0.027% SEK3.4m | |
| Senior Vice President of Operations | 4.25yrs | no data | 0.0046% SEK604.2k | |
| Acting Director of IR & Corporate Communications | no data | no data | no data | |
| Senior Vice President of Human Resources | 1.67yrs | no data | 0.00054% SEK70.2k | |
| Senior VP & GM of Business Area Pattern Generators | 24.25yrs | no data | 0.023% SEK3.0m | |
| Senior Vice President of Strategy & Portfolio Management. | 7.25yrs | no data | 0.031% SEK4.0m | |
| Senior Vice President of Research & Development | 5.08yrs | no data | 0.0098% SEK1.3m | |
| Senior Vice President of Operational Excellence | 2.25yrs | no data | 0.0020% SEK265.1k | |
| Acting Senior Vice President - Business Area Assembly Solutions | 0.083yr | no data | no data |
3.3yrs
Average Tenure
53yo
Average Age
Experienced Management: MYCR's management team is considered experienced (3.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Independent Director | 1.92yrs | kr375.00k | no data | |
| Independent Director | 8.25yrs | kr365.00k | 0.010% SEK1.3m | |
| Chairman of the Board | 8.25yrs | kr775.00k | 0.24% SEK31.2m | |
| Independent Director | 10yrs | kr325.00k | 0.0020% SEK265.1k | |
| Employee Representative Director | 0.92yr | no data | no data | |
| Independent Director | 1.92yrs | kr275.00k | no data | |
| Employee Representative Director | 0.92yr | no data | no data | |
| Independent Director | 0.92yr | no data | no data |
1.9yrs
Average Tenure
55yo
Average Age
Experienced Board: MYCR's board of directors are not considered experienced ( 1.9 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: MYCR insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Mycronic AB (publ)'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Mycronic AB (publ)
- Ticker: MYCR
- Exchange: OM
- Founded:
- Industry: Electronic Equipment and Instruments
- Sector: Tech
- Market Cap: kr12.994b
- Shares outstanding: 97.92m
- Website: https://www.mycronic.com
Number of Employees
Location
- Mycronic AB (publ)
- Nytorpsvägen 9
- Box 3141
- Täby
- Stockholm County
- 183 03
- Sweden
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| MYCR | OM (OMX Nordic Exchange Stockholm) | Yes | Ordinary Shares | SE | SEK | Mar 2000 |
| 0MQG | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | SEK | Mar 2000 |
| MICL.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Mar 2000 |
| MLT | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Mar 2000 |
| MYCRS | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | SEK | Mar 2000 |
Biography
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; assembly robots; inspection equipment; and equipment for assembling of camera modules, as well as die-bonding systems for manufacturing optoelectronics. Its aftermarket offerings include preventive service and maintenance, training, application development, upgrades, and accessories. The Pattern Generators segment offers mask writers for manufacturing of photo masks, which are used for manufacturing displays of tablets, mobile phones, TVs and computers, and other products; and measuring machines for position measurements in the production of photomasks. This segment also provides aftermarket services, such as upgrades and maintenance for utilization of production equipment. It serves industrial electronics, aviation, aerospace, automotive, energy, medical technology, IT, and telecom industries; and manufacturers of photomasks. The company sells its products through agents and distributors in Sweden, other European countries, the United States, 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.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/04/09 20:43 |
| End of Day Share Price | 2020/04/09 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.