OM:MYCR

Stock Analysis Report

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Executive Summary

Mycronic AB (publ), together with its subsidiaries, develops, manufactures, and sells production equipment to the electronics industry.


Snowflake Analysis

Excellent balance sheet with moderate growth potential.


Similar Companies

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 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.2%

MYCR

0.1%

SE Electronic

0.7%

SE Market


1 Year Return

23.3%

MYCR

30.4%

SE Electronic

16.9%

SE Market

Return vs Industry: MYCR underperformed the Swedish Electronic industry which returned 32.6% over the past year.

Return vs Market: MYCR exceeded the Swedish Market which returned 16.2% over the past year.


Shareholder returns

MYCRIndustryMarket
7 Day-2.2%0.1%0.7%
30 Day-4.1%6.5%3.5%
90 Day-3.9%20.1%16.0%
1 Year24.8%23.3%30.7%30.4%18.6%16.9%
3 Year127.7%114.1%50.4%45.6%30.1%16.4%
5 Year279.7%226.9%89.1%76.4%43.4%15.0%

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

Valuation

Is Mycronic undervalued compared to its fair value and its price relative to the market?

29.45x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: MYCR (SEK165.9) is trading above our estimate of fair value (SEK156.5)

Significantly Below Fair Value: MYCR is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: MYCR is good value based on its PE Ratio (29.5x) compared to the SE Electronic industry average (30.6x).

PE vs Market: MYCR is poor value based on its PE Ratio (29.5x) compared to the Swedish market (21.8x).


Price to Earnings Growth Ratio

PEG Ratio: MYCR is poor value based on its PEG Ratio (2x)


Price to Book Ratio

PB vs Industry: MYCR is overvalued based on its PB Ratio (5x) compared to the SE Electronic industry average (3.3x).


Next Steps

Future Growth

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

14.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MYCR's forecast earnings growth (14.5% per year) is above the savings rate (0.5%).

Earnings vs Market: MYCR's earnings (14.5% per year) are forecast to grow slower than the Swedish market (19.8% per year).

High Growth Earnings: MYCR's earnings are forecast to grow, but not significantly.

Revenue vs Market: MYCR's revenue (7.2% per year) is forecast to grow faster than the Swedish market (6.4% per year).

High Growth Revenue: MYCR's revenue (7.2% 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 (20.6%)


Next Steps

Past Performance

How has Mycronic performed over the past 5 years?

13.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MYCR has high quality earnings.

Growing Profit Margin: MYCR's current net profit margins (14.1%) are lower than last year (23.5%).


Past Earnings Growth Analysis

Earnings Trend: MYCR's earnings have grown by 13.5% per year over the past 5 years.

Accelerating Growth: MYCR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: MYCR had negative earnings growth (-46.4%) over the past year, making it difficult to compare to the Electronic industry average (-22.8%).


Return on Equity

High ROE: MYCR's Return on Equity (17.2%) is considered low.


Next Steps

Financial Health

How is Mycronic's financial position?


Financial Position Analysis

Short Term Liabilities: MYCR's short term assets (SEK3.4B) exceed its short term liabilities (SEK1.6B).

Long Term Liabilities: MYCR's short term assets (SEK3.4B) exceed its long term liabilities (SEK530.0M).


Debt to Equity History and Analysis

Debt Level: MYCR's debt to equity ratio (6.8%) 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 (268.5%).

Interest Coverage: MYCR's interest payments on its debt are well covered by EBIT (236x coverage).


Balance Sheet


Next Steps

Dividend

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

1.21%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MYCR's dividend (1.21%) isn’t notable compared to the bottom 25% of dividend payers in the Swedish market (1.38%).

High Dividend: MYCR's dividend (1.21%) is low compared to the top 25% of dividend payers in the Swedish market (4.95%).


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 reasonably low payout ratio (35.5%), 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 (39.8% payout ratio).


Next Steps

Management

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

1.6yrs

Average management tenure


CEO

Anders Lindqvist (53 yo)

1.25yrs

Tenure

kr8,520,000

Compensation

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 ...


CEO Compensation Analysis

Compensation vs Market: Anders's total compensation ($USD974.96K) is about average for companies of similar size in the Swedish market ($USD957.00K).

Compensation vs Earnings: Insufficient data to compare Anders's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Anders Lindqvist
President & CEO1.25yrskr8.52m0.012%
SEK 2.0m
Torbjörn Wingårdh
Chief Financial Officer3.67yrsno data0.027%
SEK 4.4m
Tobias Bulow
Director Investor Relationsno datano datano data
Sven Chetkovich
Acting Director of IR & Corporate Communicationsno datano datano data
Niklas Edling
SVP of Corporate Development & Deputy CEO0.33yrno data0.031%
SEK 5.1m
Anette Mullis
Senior Vice President of Human Resources2yrsno data0.00054%
SEK 89.6k
Charlott Samuelsson
Senior Vice President of Pattern Generators24.58yrsno data0.023%
SEK 3.8m
Lena Båvegård
Senior Vice President of Global Functions2.58yrsno data0.0021%
SEK 340.1k
Clemens Jargon
Acting Senior Vice President of Assembly Solutions High Flex0.42yrno datano data
Ivan Li
Senior Vice President of Assembly Solutions High Volume0.33yrno datano data
Michael Chalsen
Senior Vice President of Assembly Solutions Global Technologiesno datano data0.0025%
SEK 409.8k
Mikael Wahlsten
Director of Product Area Manager PGno datano datano data

1.6yrs

Average Tenure

55.5yo

Average Age

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


Board Members

NamePositionTenureCompensationOwnership
Anna Belfrage
Independent Director2.25yrskr375.00kno data
Patrik Tigerschiöld
Chairman of the Board8.58yrskr775.00k0.24%
SEK 39.9m
Katarina Bonde
Independent Director10.33yrskr325.00k0.0021%
SEK 340.1k
Arun Bansal
Independent Board Member0.17yrno datano data
Johan Densjö
Employee Representative Director1.25yrsno datano data
Robert Larsson
Independent Director2.25yrskr315.00kno data
Jörgen Lundberg
Employee Representative Director1.25yrsno data0.00010%
SEK 16.6k
Staffan Dahlström
Independent Director1.25yrskr275.00k0.0031%
SEK 509.4k

1.8yrs

Average Tenure

54.5yo

Average Age

Experienced Board: MYCR's board of directors are not considered experienced ( 1.8 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.


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: kr16.592b
  • Shares outstanding: 97.78m
  • Website: https://www.mycronic.com

Number of Employees


Location

  • Mycronic AB (publ)
  • NytorpsvAegen 9
  • Box 3141
  • Täby
  • Stockholm County
  • 183 03
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MYCROM (OMX Nordic Exchange Stockholm)YesOrdinary SharesSESEKMar 2000
0MQGLSE (London Stock Exchange)YesOrdinary SharesGBSEKMar 2000
MLTDB (Deutsche Boerse AG)YesOrdinary SharesDEEURMar 2000
MYCRSBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBSEKMar 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 ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/10 21:14
End of Day Share Price2020/08/10 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.