NOTE

OM:NOTE

Snowflake Description

Fair value with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.

NOTE

SEK781M

Market Cap

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Last updated 2019/05/19 20:34

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NOTE Share Price and Events

7 Day Returns

-0.7%

OM:NOTE

0.6%

SE Electronic

0.8%

SE Market

1 Year Returns

15.8%

OM:NOTE

4.1%

SE Electronic

-0.6%

SE Market

NOTE Shareholder Return

	7 Day	30 Day	90 Day	1 Year	3 Year	5 Year
NOTE (NOTE)	-0.7%	-0.2%	14.4%	15.8%	118.1%	249%
SE Electronic	0.6%	-4.5%	2.7%	4.1%	24.2%	114.9%
SE Market	0.8%	-2.3%	2.4%	-0.6%	14.3%	18.2%

1 Year Return vs Industry and Market

NOTE outperformed the Electronic industry which returned 4.1% over the past year.
NOTE outperformed the Market in Sweden which returned -0.6% over the past year.

Price Volatility

NOTE

Industry

5yr Volatility vs Market

Related Companies

Value

Is NOTE 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

It is not possible to calculate the future cash flow value for NOTE. This is due to cash flow or dividend data being unavailable. The share price is SEK27.05.

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 NOTE's earnings, growth and assets is considered below, and whether this is a fair price.

Price based on past earnings

Are NOTE's earnings available for a low price, and how does this compare to other companies in the same industry?

Raw Data

OM:NOTE PE (Price to Earnings) Ratio Data Sources
Data Point	Source	Value
Earnings Per Share *	Company Filings (2019-03-31) in SEK	SEK2.50
OM:NOTE Share Price **	OM (2019-05-17) in SEK	SEK27.05
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	16.89x

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

** Primary Listing of NOTE.

OM:NOTE PE (Price to Earnings) Ratio Calculation
	Calculation	Outcome
PE Ratio	= OM:NOTE Share Price ÷ EPS (both in SEK) = 27.05 ÷ 2.50	10.81x

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

NOTE is good value based on earnings compared to the SE Electronic industry average.
NOTE is good value based on earnings compared to the Sweden market.

Price based on expected Growth

Does NOTE's expected growth come at a high price?

Raw Data

OM:NOTE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point	Source	Value
PE Ratio	See PE Ratio Section	10.81x
Net Income Annual Growth Rate	See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts	4.1%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 .

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

Unable to calculate PEG ratio for NOTE, we can't assess if its growth is good value.

Price based on value of assets

What value do investors place on NOTE's assets?

Raw Data

OM:NOTE PB (Price to Book) Ratio Data Sources
Data Point	Source	Value
Book Value per Share	Company Filings (2019-03-31) in SEK	SEK14.34
OM:NOTE Share Price *	OM (2019-05-17) in SEK	SEK27.05
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:NOTE PB (Price to Book) Ratio Calculation
	Calculation	Outcome
PB Ratio	= OM:NOTE Share Price ÷ Book Value per Share (both in SEK) = 27.05 ÷ 14.34	1.89x

* Primary Listing of NOTE.

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

NOTE is good value based on assets compared to the SE Electronic industry average.

Show me more potentially undervalued companies in the Electronic industry

Value checks

We assess NOTE's value by looking at:

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. )
Is the PE ratio less than the market average, and/ or less than the Electronic industry average (and greater than 0)? (2 checks)
Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
Is the PB ratio less than the Electronic industry average (and greater than 0)? (1 check)

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

Future Performance

How is NOTE expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

No analysts cover NOTE, future earnings growth has been estimated based on fundamentals.

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!

4.1%

Expected annual growth in earnings.

Earnings growth vs Low Risk Savings

Is NOTE expected to grow at an attractive rate?

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

Growth vs Market Checks

NOTE's earnings growth is positive but not above the Sweden market average.
Unable to compare NOTE's revenue growth to the Sweden market average as no estimate data is available.

Annual Growth Rates Comparison

Raw Data

OM:NOTE Future Growth Rates Data Sources
Data Point	Source	Value (per year)
OM:NOTE Future Earnings Growth Rate	Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts	4.1%
Sweden Electronic Industry Earnings Growth Rate	Market Cap Weighted Average	11%
Sweden Electronic Industry Revenue Growth Rate	Market Cap Weighted Average	6.9%
Sweden Market Earnings Growth Rate	Market Cap Weighted Average	8.6%
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:NOTE Analysts Growth Expectations Data Sources
Data Point	Source	Value
Past Financials	Company Filings (1 month ago)	See Below
Future Estimates	Average of up to 0 Analyst Estimates (S&P Global)	See Below

All numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.

OM:NOTE Past Financials Data
Date (Data in SEK Millions)	Revenue	Cash Flow	Net Income *
2019-03-31	1,476	15	72
2018-12-31	1,379	27	64
2018-09-30	1,307	26	58
2018-06-30	1,249	1	63
2018-03-31	1,207	20	57
2017-12-31	1,176	40	72
2017-09-30	1,139	37	67
2017-06-30	1,122	57	63
2017-03-31	1,096	56	62
2016-12-31	1,098	49	45
2016-09-30	1,115	74	39
2016-06-30	1,128	44	38

*GAAP earnings excluding extraordinary items.

High Growth Checks

NOTE's earnings are expected to grow by 4.1% yearly, however this is not considered high growth (20% yearly).
Unable to determine if NOTE is high growth as no revenue estimate data is available.

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:NOTE 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 0 Analyst Estimates (S&P Global)	See Below

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

OM:NOTE Past Financials Data
Date (Data in SEK Millions)	EPS *
2019-03-31	2.50
2018-12-31	2.22
2018-09-30	2.00
2018-06-30	2.17
2018-03-31	1.98
2017-12-31	2.50
2017-09-30	2.33
2017-06-30	2.17
2017-03-31	2.14
2016-12-31	1.57
2016-09-30	1.36
2016-06-30	1.32

*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.

Unable to establish if NOTE will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Future performance checks

We assess NOTE's future performance by looking at:

Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Sweden market? (1 check)
Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Sweden market? (1 check)
Is the annual earnings growth rate expected to be above 20%? (1 check)
Is the annual revenue growth rate expected to be above 20%? (1 check)
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.
NOTE 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 NOTE 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 NOTE'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.

NOTE has delivered over 20% year on year earnings growth in the past 5 years.
NOTE's 1-year earnings growth is less than its 5-year average (26.2% vs 27.2%)
NOTE's earnings growth has exceeded the SE Electronic industry average in the past year (26.2% vs 21.9%).

Earnings and Revenue History

NOTE'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 NOTE Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:NOTE Past Revenue, Cash Flow and Net Income Data
Date (Data in SEK Millions)	Revenue	Net Income *	G+A Expenses
2019-03-31	1,475.58	72.24	86.36
2018-12-31	1,378.58	64.24	82.36
2018-09-30	1,307.12	57.74	79.93
2018-06-30	1,248.72	62.64	71.43
2018-03-31	1,206.62	57.24	70.23
2017-12-31	1,175.72	72.14	73.13
2017-09-30	1,138.88	67.22	74.20
2017-06-30	1,122.08	62.52	72.90
2017-03-31	1,096.08	61.92	74.20
2016-12-31	1,098.08	45.22	71.80
2016-09-30	1,115.10	39.34	75.06
2016-06-30	1,128.20	38.04	77.56
2016-03-31	1,125.30	35.54	77.66
2015-12-31	1,121.50	34.64	78.76
2015-09-30	1,064.42	34.68	73.20
2015-06-30	1,038.42	33.58	72.50
2015-03-31	1,006.52	30.78	70.50
2014-12-31	964.02	24.58	68.90
2014-09-30	971.18	25.15	67.55
2014-06-30	936.48	8.55	65.75
2014-03-31	924.98	4.85	64.35
2013-12-31	906.98	0.65	63.95
2013-09-30	892.14	-14.78	64.36
2013-06-30	925.34	-0.38	63.96
2013-03-31	969.34	4.42	64.26
2012-12-31	1,029.24	12.62	64.96
2012-09-30	1,086.45	28.99	64.98
2012-06-30	1,125.05	31.89	65.78

*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.

NOTE has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
NOTE used its assets less efficiently than the SE Electronic industry average last year based on Return on Assets.
NOTE has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).

Past performance checks

We assess NOTE's performance over the past 5 years by checking for:

Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the Electronic industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
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.
NOTE has a total score of 3/6, 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 NOTE'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 NOTE's finances.

The net worth of a company is the difference between its assets and liabilities.

Net Worth

NOTE is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
NOTE's cash and other short term assets cover its long term commitments.

Balance sheet

This treemap shows a more detailed breakdown of NOTE'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 3.1x 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 NOTE Company Filings, last reported 1 month ago.

OM:NOTE Past Debt and Equity Data
Date (Data in SEK Millions)	Total Equity	Total Debt	Cash & Short Term Investments
2019-03-31	414.00	271.00	44.00
2018-12-31	383.63	188.49	30.99
2018-09-30	380.60	104.20	52.90
2018-06-30	375.90	113.10	54.90
2018-03-31	384.80	112.30	102.30
2017-12-31	369.22	110.09	87.19
2017-09-30	346.50	77.70	50.50
2017-06-30	333.30	84.80	82.10
2017-03-31	343.90	125.00	142.50
2016-12-31	318.03	131.98	71.59
2016-09-30	304.50	117.20	53.60
2016-06-30	291.40	114.20	45.30
2016-03-31	296.20	112.80	56.80
2015-12-31	287.14	129.21	47.30
2015-09-30	283.30	123.50	23.00
2015-06-30	273.50	103.10	27.00
2015-03-31	282.00	103.60	61.50
2014-12-31	270.16	99.50	35.16
2014-09-30	260.30	89.10	25.10
2014-06-30	249.80	99.80	57.90
2014-03-31	241.50	100.00	66.50
2013-12-31	238.14	97.54	40.73
2013-09-30	230.70	83.10	29.60
2013-06-30	240.90	99.00	41.90
2013-03-31	256.60	100.60	60.00
2012-12-31	260.50	101.34	70.72
2012-09-30	266.90	92.50	37.90
2012-06-30	263.30	109.20	33.90

NOTE's level of debt (65.5%) compared to net worth is high (greater than 40%).
The level of debt compared to net worth has increased over the past 5 years (41.4% vs 65.5% today).
Debt is not well covered by operating cash flow (5.5%, less than 20% of total debt).
Interest payments on debt are well covered by earnings (EBIT is 46.3x coverage).

Financial health checks

We assess NOTE's financial health by checking for:

Are short term assets greater than short term liabilities? (1 check)
Are short term assets greater than long term liabilities? (1 check)
Has the debt to equity ratio increased in the past 5 years? (1 check)
Is the debt to equity ratio over 40%? (1 check)
Is the debt covered by operating cash flow? (1 check)
Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)

For companies that are loss making and have been so on average in the past we replace the last 2 checks with:

Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
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 NOTE'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

2.59%

Current annual income from NOTE dividends.

If you bought SEK2,000 of NOTE shares you are expected to receive SEK52 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?

NOTE's pays a higher dividend yield than the bottom 25% of dividend payers in Sweden (1.79%).
NOTE'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:NOTE 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 0 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:NOTE Past Annualized Dividends Data
Date (Data in SEK)	Dividend per share (annual)	Avg. Yield (%)
2019-03-25	0.700	2.645
2018-04-26	1.000	4.389
2017-03-21	0.700	2.965
2016-03-18	0.700	4.776
2015-03-20	0.500	4.653
2014-10-20	0.000	0.000
2014-07-14	0.000	0.000
2014-04-25	0.000	0.000
2014-02-28	0.000	0.000
2014-02-06	0.000	0.000
2013-03-21	0.750	11.465
2012-04-04	0.300	4.328
2012-02-10	0.300	3.534
2009-10-20	0.000	0.000
2009-07-17	0.000	0.000

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

NOTE has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
Dividend payments have increased, but NOTE only paid a dividend in the past 7 years.

Current Payout to shareholders

What portion of NOTE's earnings are paid to the shareholders as a dividend.

Dividends paid are well covered by earnings (3.6x coverage).

Future Payout to shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.

Income/ dividend checks

We assess NOTE's dividend by checking for:

Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
Is current dividend yield above the bottom 25% of dividend payers? (1 check)
Is current dividend yield above the top 25% of dividend payers? (1 check)
Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
If they have paid a dividend for 10 years has it increased in this time? (1 check)
How sustainable is the dividend, can NOTE afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)

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

Management

What is the CEO of NOTE'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

Johannes Lind-Widestam

AGE	46
TENURE AS CEO	0.7 years

CEO Bio

Mr. Johannes Lind-Widestam is Chief Executive Officer and President of NOTE AB (publ) since September 2018. Mr. Lind-Widestam served as the Chief Executive Officer and President at Elos Medtech AB (publ) since February 1, 2015 until June 30, 2016. Mr. Lind-Widestam served as Managing Director and President of ASSA OEM AB. He was Purchasing Director at Nobel Biocare and responsible for Swedish operations at Kitron. He was CEO at Kitron Sweden AB. His Experience are from different senior positions within the ASSA group, Flextronics International AB and Nobel Biocare Services AG, for example as CEO and global purchasing manager. He served as a Board Member of NOTE AB since 2018 until January 2019. He holds M.Sc. (Econ).

CEO Compensation

Insufficient data for Johannes to compare compensation growth.
Insufficient data for Johannes to establish whether their remuneration is reasonable compared to companies of similar size in Sweden.

Management Team Tenure

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

2.7

Average Tenure

Average Age

The tenure for the NOTE management team is about average.

46

TENURE

3.7 yrs

Gunilla Olsson

TITLE

Head of Group Staff Accounting & Finance

AGE

57

David Krantz

TITLE

Chief Procurement Officer

AGE

38

TENURE

1.8 yrs

Mikko Sajaniemi

TITLE

President of NOTE Hyvinkää Oy

AGE

65

Jacek Malecki

TITLE

President of NOTE Components Gdansk Sp.z.o.o.

Kerstin Åkerberg

TITLE

President of NOTE Tauragé UAB

Board of Directors Tenure

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

0.8

Average Tenure

Average Age

The average tenure for the NOTE board of directors is less than 3 years, this suggests a new board.

Board of Directors

Johan Hagberg

TITLE

Chairman

COMPENSATION

SEK98K

AGE

47

TENURE

0.8 yrs

Kjell-Åke Andersson

1.9 yrs

Who owns this company?

Recent Insider Trading

NOTE insiders have only sold shares in the past 3 months.

Recent Insider Transactions

Announced	Type	Name	Entity	Role		Start	End	Shares	Max Price (SEK)	Value (SEK)
08. May 19	Sell	Kjell-Åke Andersson	Individual			06. May 19	06. May 19	-1,500	SEK27.20	SEK-40,800
07. May 19	Sell	Kjell-Åke Andersson	Individual			02. May 19	03. May 19	-46,042	SEK28.10	SEK-1,289,678

Management checks

We assess NOTE's management by checking for:

Is the CEO's compensation unreasonable compared to market cap? (1 check)
Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
Is the average tenure of the management team less than 2 years? (1 check)
Is the average tenure of the board of directors team less than 3 years? (1 check)

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

Here's Why I Think NOTE (STO:NOTE) Might Deserve Your Attention Today

So if you're like me, you might be more interested in profitable, growing companies, like NOTE (STO:NOTE). … See our latest analysis for NOTE How Fast Is NOTE Growing? … So it is good to see that NOTE insiders have a significant amount of capital invested in the stock.

Simply Wall St - 6 days ago – Full article

Does NOTE AB (publ) (STO:NOTE) Have A Volatile Share Price?

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 can be a useful tool to understand how much a stock is influenced by 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 - 2 weeks ago – Full article

NOTE AB (publ) (STO:NOTE): 3 Days To Buy Before The Ex-Dividend Date

Have you been keeping an eye on NOTE AB (publ)'s (STO:NOTE) upcoming dividend of kr0.70 per share payable on the 03 May 2019? … Is it paying an annual yield above 75% of dividend payers? … Has it consistently paid a stable dividend without missing a payment or drastically cutting payout?

Simply Wall St - 3 weeks ago – Full article

Should You Be Concerned With NOTE AB (publ)'s (STO:NOTE) -11% Earnings Drop?

Below, I will examine NOTE AB (publ)'s (STO:NOTE) track record on a high level, to give you some insight into how the company has been performing against its long term trend and its industry peers. … Did NOTE perform worse than its track record and industry. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 31%, indicating the rate at which NOTE is growing has slowed down

Simply Wall St - 1 month ago – Full article

Did You Manage To Avoid NOTE's (STO:NOTE) -225% Share Price Drop?

One great example is NOTE AB (publ) (STO:NOTE) which saw its share price drive 225% higher over five years. … It's also good to see the share price up 19% over the last quarter. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.

Simply Wall St - 1 month ago – Full article

Should You Like NOTE AB (publ)’s (STO:NOTE) 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. … Return On Capital Employed (ROCE): What is it? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St - 2 months ago – Full article

Do You Like NOTE AB (publ) (STO:NOTE) At This P/E Ratio?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll show how you can use NOTE AB (publ)'s (STO:NOTE) P/E ratio to inform your assessment of the investment opportunity. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St - 2 months ago – Full article

Can We See Significant Insider Ownership On The NOTE AB (publ) (STO:NOTE) Share Register?

The big shareholder groups in NOTE AB (publ) (STO:NOTE) have power over the company. … Generally speaking, as a company grows, institutions will increase their ownership. … NOTE is not a large company by global standards.

Simply Wall St - 3 months ago – Full article

How Does NOTE AB (publ) (STO:NOTE) Affect Your Portfolio Volatility?

Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful. … 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 - 3 months ago – Full article

How Good Is NOTE AB (publ) (STO:NOTE), When It Comes To ROE?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … One way to conceptualize this, is that for each SEK1 of shareholders' equity it has, the company made SEK0.15 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St - 4 months ago – Full article

Company Info

Description

NOTE AB (publ) operates as a manufacturing and logistics partner for producing electronics-based products primarily in Sweden, Finland, the United Kingdom, Estonia, and China. The company provides advanced production technology services in close collaboration with customers, such as component selection, developing test equipment, prototyping, and batch production, as well as after-sales services. It also produces PCBAs, sub-assemblies, and box build products. The company primarily serves the medtech, defence, manufacturing, communication, and consumer electronics industries. NOTE AB (publ) was founded in 1999 and is headquartered in Kista, Sweden.

Details

Name:	NOTE AB (publ)
Ticker:	NOTE
Exchange:	OM
Founded:	1999
Market Cap:	SEK781,003,830
Shares outstanding:	28,872,600
Website:	http://www.note.eu
Address:	NOTE AB (publ) Box 1285, Kista, 164 29, Sweden

Listings

Exchange Symbol	Ticker Symbol	Security	Exchange	Country	Currency	Listed on
OM	NOTE	Class A Shares	OMX Nordic Exchange Stockholm	SE	SEK	23. Jun 2004
LSE	0GSS	Class A Shares	London Stock Exchange	GB	SEK	23. Jun 2004
BATS-CHIXE	NOTES	Class A Shares	BATS 'Chi-X Europe'	GB	SEK	23. Jun 2004

Number of employees

Current staff

1,050

NOTE employees.

Industry

Industry:	Electronic Manufacturing Services
Sector:	Tech

Company Analysis and Financial Data Status

Area	Date (UTC time)
Company Analysis updated:	2019/05/19 20:34
End of day share price update:	2019/05/17 00:00
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.

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NOTE

NOTE Share Price and Events

7 Day Returns

1 Year Returns

NOTE Shareholder Return

1 Year Return vs Industry and Market

Price Volatility

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Value

INTRINSIC VALUE BASED ON FUTURE CASH FLOWS

PRICE RELATIVE TO MARKET

Price based on past earnings

Price based on expected Growth

Price based on value of assets

Value checks

Future Performance

Earnings growth vs Low Risk Savings

Growth vs Market Checks

Annual Growth Rates Comparison

Analysts growth expectations

High Growth Checks

Past and Future Earnings per Share

Performance in 3 years

Future performance checks

Past Performance

Past earnings growth

Past Earnings growth analysis

Earnings and Revenue History

Performance last year

Past performance checks

Health

Net Worth

Balance sheet

Assets

Liabilities and shares

Historical Debt

Financial health checks

Dividends

Annual Dividend Income

Dividend Amount

Annualized Historical and Future Dividends

Current Payout to shareholders

Future Payout to shareholders

Income/ dividend checks

Management

CEO

CEO Bio

CEO Compensation

Management Team Tenure

Management Team

Henrik Nygren

Chief Financial Officer

SEK412K

62

13.3 yrs

Stefan Hedelius

Executive Officer

SEK6M

49

2.1 yrs

Johannes Lind-Widestam

CEO & President

46

0.7 yrs

Frida Frykstrand

Corporate Accounting Manager

3.3 yrs

Fredrik Schultz

Chief Sales Officer

46

3.7 yrs

Gunilla Olsson

Head of Group Staff Accounting & Finance

57

David Krantz

Chief Procurement Officer

38