OM:NCAB

Stock Analysis Report

Executive Summary

NCAB Group AB (publ), together with its subsidiaries, manufactures and sells printed circuit boards (PCB).

Snowflake

Fundamentals

Solid track record with excellent balance sheet.

Risks

  • NCAB Group is covered by less than 3 analysts.

Share Price & News

How has NCAB Group's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-4.1%

OM:NCAB

-1.9%

SE Electronic

0.2%

SE Market


1 Year Return

28.4%

OM:NCAB

-10.0%

SE Electronic

-1.9%

SE Market

NCAB outperformed the Electronic industry which returned -10.5% over the past year.

NCAB outperformed the Market in Sweden which returned -2.6% over the past year.


Share holder returns

NCABIndustryMarket
7 Day-4.1%-1.9%0.2%
30 Day-9.0%-6.1%-3.7%
90 Day-11.3%-5.0%-1.5%
1 Year33.2%28.4%-8.9%-10.0%2.2%-1.9%
3 Yearn/a10.8%7.3%26.0%7.4%
5 Yearn/a96.4%82.1%45.6%14.9%

Price Volatility Vs. Market

How volatile is NCAB Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

29%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

NCAB Group's share price is below the future cash flow value, and at a moderate discount (> 20%).

NCAB Group's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

NCAB Group is good value based on earnings compared to the SE Electronic industry average.

NCAB Group is good value based on earnings compared to the Sweden market.


Price Based on Expected Growth

NCAB Group is poor value based on expected growth next year.


Price Based on Value of Assets

NCAB Group is overvalued based on assets compared to the SE Electronic industry average.


Next Steps

Future Growth

How is NCAB Group expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

8.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

NCAB Group's revenue is expected to grow by 7.5% yearly, however this is not considered high growth (20% yearly).

NCAB Group's earnings are expected to grow by 8.1% yearly, however this is not considered high growth (20% yearly).

NCAB Group's revenue growth is expected to exceed the Sweden market average.

NCAB Group's earnings growth is positive but not above the Sweden market average.

NCAB Group's earnings growth is expected to exceed the low risk savings rate of 0.4%.


Earnings per Share Growth Estimates


Future Return on Equity

NCAB Group is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).


Next Steps

Past Performance

How has NCAB Group performed over the past 5 years?

27.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

NCAB Group has delivered over 20% year on year earnings growth in the past 5 years.

NCAB Group's 1-year earnings growth exceeds its 5-year average (921.6% vs 27.2%)

NCAB Group's earnings growth has exceeded the SE Electronic industry average in the past year (921.6% vs 18.6%).


Return on Equity

NCAB Group made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%).


Return on Assets

NCAB Group used its assets more efficiently than the SE Electronic industry average last year based on Return on Assets.


Return on Capital Employed

NCAB Group's use of capital has not improved over the past 3 years (Return on Capital Employed).


Next Steps

Financial Health

How is NCAB Group's financial position?


Financial Position Analysis

NCAB Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

NCAB Group's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

NCAB Group's level of debt (39.1%) compared to net worth is satisfactory (less than 40%).

Unable to establish if NCAB Group's debt level has increased without past 5-year debt data.

Debt is well covered by operating cash flow (116.3%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 117.3x coverage).


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 5.1x debt.


Next Steps

Dividend

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

4.77%

Expected Dividend Yield


Dividend Yield and Payments Analysis

NCAB Group's pays a higher dividend yield than the bottom 25% of dividend payers in Sweden (1.97%).

NCAB Group's dividend is below the markets top 25% of dividend payers in Sweden (4.54%).

It is too early to tell whether NCAB Group has stable dividend payments.

NCAB Group only just started paying a dividend, it is too early to tell if payments are increasing.


Current Payout to Shareholders

Dividends paid are covered by earnings (1.6x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be covered by earnings (1.6x coverage).


Next Steps

Management

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

6.6yrs

Average management tenure


CEO

Hans Ståhl (64yo)

15.6yrs

Tenure

0

Mr. Hans Ståhl has been Chief Executive Officer and Director at NCAB Group AB (publ) since 2004 and 2007 respectively. Mr. Ståhl is Employed in NCAB since 2003. He has been the owner of H. Ståhl Management ...


Management Age and Tenure

6.6yrs

Average Tenure

57yo

Average Age

The average tenure for the NCAB Group management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

12.6yrs

Average Tenure

58yo

Average Age

The average tenure for the NCAB Group board of directors is over 10 years, this suggests they are a seasoned and experienced board.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Jack Kei

    Managing Director of China

    • Tenure: 0.0yrs
  • Hans Ståhl (64yo)

    CEO & Director

    • Tenure: 15.6yrs
  • Martin Magnusson (43yo)

    Managing Director of NCAB Group USA Inc.

    • Tenure: 2.6yrs
  • Anders Forsén (57yo)

    Chief Financial Officer

    • Tenure: 11.6yrs
  • Michael Larsson (51yo)

    Vice President of Sales

    • Tenure: 2.6yrs
  • Chris Nuttall (46yo)

    Chief Operations Officer

    • Tenure: 10.6yrs
  • Eva Holm (57yo)

    Global HR Manager

    • Tenure: 0.0yrs
  • Gunilla Öhman (60yo)

    IR Manager

    • Tenure: 1.6yrs
  • Bo Andersson

    Technical Manager

    • Tenure: 0.0yrs
  • Sanna Magnusson

    Marketing Manager (LOA)

    • Tenure: 0.0yrs

Board Members

  • Chris Salamon (58yo)

    Chairman of the Board

    • Tenure: 12.6yrs
  • Hans Ramel (55yo)

    Director

    • Tenure: 12.6yrs
  • Gunilla Rudebjer (60yo)

    Director

    • Tenure: 2.6yrs
  • Jan-Olof Dahlén (77yo)

    Director

    • Tenure: 12.6yrs
  • Per Hesselmark (48yo)

    Director

    • Tenure: 3.6yrs
  • Hans Ståhl (64yo)

    CEO & Director

    • Tenure: 15.6yrs
  • Magdalena Persson (48yo)

    Director

    • Tenure: 2.6yrs

Company Information

NCAB Group AB (publ)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: NCAB Group AB (publ)
  • Ticker: NCAB
  • Exchange: OM
  • Founded: 1993
  • Industry: Electronic Components
  • Sector: Tech
  • Market Cap: kr1.794b
  • Shares outstanding: 16.85m
  • Website: https://www.ncabgroup.com

Number of Employees


Location

  • NCAB Group AB (publ)
  • Mariehallsvagen 37 A
  • Bromma
  • Stockholm County
  • 168 65
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NCABOM (OMX Nordic Exchange Stockholm)YesOrdinary SharesSESEKJun 2018

Biography

NCAB Group AB (publ), together with its subsidiaries, manufactures and sells printed circuit boards (PCB). The company offers multilayer, high density interconnect, radio frequency, insulated metal base, f ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/19 22:28
End of Day Share Price2019/08/19 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.