Jetpak Top Holding (OM:JETPAK) - Share price, News & Analysis

Q: What is the Fair Price of JETPAK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

JETPAK (SEK91.8) is trading below our estimate of [[fair value]] (SEK223.17)

JETPAK fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	2/6
Past Performance	4/6
Financial Health	5/6
Dividends	0/6

JETPAK Stock Overview

Jetpak Top Holding AB (publ) provides air-based express and long-distance logistic solutions in Sweden, Norway, Finland, Denmark, Holland, the United Kingdom, Germany, Poland, and the Benelux.

Rewards

Trading at 58.9% below our estimate of its fair value

Earnings are forecast to grow 16.64% per year

Earnings grew by 53.9% over the past year

Risk Analysis

No risks detected for JETPAK from our risk checks.

Jetpak Top Holding Competitors

Railcare Group

OM:RAIL

kr455.9m

Freetrailer Group

NGM:FREETR

kr.356.4m

A.L.A. società per azioni

BIT:ALA

€116.5m

Leo Global Logistics

SET:LEO

฿4.1b

Price History & Performance

Summary of all time highs, changes and price drops for Jetpak Top Holding
Historical stock prices
Current Share Price	kr91.80
52 Week High	kr120.50
52 Week Low	kr82.60
Beta	0.29
1 Month Change	4.56%
3 Month Change	1.10%
1 Year Change	-17.67%
3 Year Change	98.06%
5 Year Change	n/a
Change since IPO	117.02%

Recent News & Updates

May 28

There's Been No Shortage Of Growth Recently For Jetpak Top Holding's (STO:JETPAK) Returns On Capital

What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly...

Apr 21

Jetpak Top Holding (STO:JETPAK) Could Easily Take On More Debt

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Shareholder Returns

	JETPAK	SE Logistics	SE Market
7D	1.1%	-1.8%	2.3%
1Y	-17.7%	-25.6%	-21.8%

Return vs Industry: JETPAK exceeded the Swedish Logistics industry which returned -25.6% over the past year.

Return vs Market: JETPAK exceeded the Swedish Market which returned -21.8% over the past year.

Price Volatility

Is JETPAK's price volatile compared to industry and market?
JETPAK volatility
JETPAK Average Weekly Movement	6.9%
Logistics Industry Average Movement	4.6%
Market Average Movement	7.2%
10% most volatile stocks in SE Market	12.6%
10% least volatile stocks in SE Market	4.5%

Stable Share Price: JETPAK is not significantly more volatile than the rest of Swedish stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: JETPAK's weekly volatility (7%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1979	230	Kenneth Marx	https://Jetpakgroup.com

Jetpak Top Holding AB (publ) provides air-based express and long-distance logistic solutions in Sweden, Norway, Finland, Denmark, Holland, the United Kingdom, Germany, Poland, and the Benelux. The company operates through two segments, Express Ad-Hoc and Express Systemized. The Express Ad-Hoc segment provides Jetpak direct, Jetpak next day, and courier express services.

Jetpak Top Holding Fundamentals Summary

How do Jetpak Top Holding's earnings and revenue compare to its market cap?
JETPAK fundamental statistics
Market Cap	kr1.12b
Earnings (TTM)	kr77.38m
Revenue (TTM)	kr1.07b

14.5x

P/E Ratio

1.0x

P/S Ratio

Is JETPAK overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
JETPAK income statement (TTM)
Revenue	kr1.07b
Cost of Revenue	kr934.29m
Gross Profit	kr133.51m
Other Expenses	kr56.13m
Earnings	kr77.38m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 25, 2022

Earnings per share (EPS)	6.35
Gross Margin	12.50%
Net Profit Margin	7.25%
Debt/Equity Ratio	21.0%

How did JETPAK perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is JETPAK undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for JETPAK?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for JETPAK. This is calculated by dividing JETPAK's market cap by their current preferred multiple.
What is JETPAK's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	kr1.12b

JETPAK key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	1.2x
Enterprise Value/EBITDA	10.6x
PEG Ratio	0.9x

Price to Earnings Ratio vs Peers

How does JETPAK's PE Ratio compare to its peers?

JETPAK PE Ratio vs Peers

The above table shows the PE ratio for JETPAK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	21.5x
RAIL Railcare Group	11.4x	7.2%	kr455.9m
FREETR Freetrailer Group	39.7x	n/a	kr.356.4m
ALA A.L.A. società per azioni	19.3x	20.7%	€116.5m
LEO Leo Global Logistics	15.5x	12.8%	฿4.1b
JETPAK Jetpak Top Holding	14.5x	16.6%	kr1.1b

Price-To-Earnings vs Peers: JETPAK is good value based on its Price-To-Earnings Ratio (14.5x) compared to the peer average (21.5x).

Price to Earnings Ratio vs Industry

How does JETPAK's PE Ratio compare vs other companies in the European Logistics Industry?

Price-To-Earnings vs Industry: JETPAK is expensive based on its Price-To-Earnings Ratio (14.5x) compared to the European Logistics industry average (12x)

Price to Earnings Ratio vs Fair Ratio

What is JETPAK's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

JETPAK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	14.5x
Fair PE Ratio	15.8x

Price-To-Earnings vs Fair Ratio: JETPAK is good value based on its Price-To-Earnings Ratio (14.5x) compared to the estimated Fair Price-To-Earnings Ratio (15.8x).

Share Price vs Fair Value

What is the Fair Price of JETPAK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: JETPAK (SEK91.8) is trading below our estimate of fair value (SEK223.17)

Significantly Below Fair Value: JETPAK is trading below fair value by more than 20%.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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Future Growth

How is Jetpak Top Holding forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

2/6

Future Growth Score 2/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

16.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: JETPAK's forecast earnings growth (16.6% per year) is above the savings rate (0.4%).

Earnings vs Market: JETPAK's earnings (16.6% per year) are forecast to grow faster than the Swedish market (15.9% per year).

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

Revenue vs Market: JETPAK's revenue (7.7% per year) is forecast to grow slower than the Swedish market (10.9% per year).

High Growth Revenue: JETPAK's revenue (7.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: JETPAK's Return on Equity is forecast to be low in 3 years time (13.6%).

Discover growth companies

Past Performance

How has Jetpak Top Holding performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

57.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: JETPAK has high quality earnings.

Growing Profit Margin: JETPAK's current net profit margins (7.2%) are higher than last year (5.5%).

Past Earnings Growth Analysis

Earnings Trend: JETPAK has become profitable over the past 5 years, growing earnings by 57.7% per year.

Accelerating Growth: JETPAK's earnings growth over the past year (53.9%) is below its 5-year average (57.7% per year).

Earnings vs Industry: JETPAK earnings growth over the past year (53.9%) exceeded the Logistics industry 19.6%.

Return on Equity

High ROE: JETPAK's Return on Equity (10.2%) is considered low.

Discover strong past performing companies

Financial Health

How is Jetpak Top Holding's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: JETPAK's short term assets (SEK320.3M) do not cover its short term liabilities (SEK376.8M).

Long Term Liabilities: JETPAK's short term assets (SEK320.3M) exceed its long term liabilities (SEK98.3M).

Debt to Equity History and Analysis

Debt Level: JETPAK's net debt to equity ratio (4.2%) is considered satisfactory.

Reducing Debt: JETPAK's debt to equity ratio has reduced from 140.5% to 21% over the past 5 years.

Debt Coverage: JETPAK's debt is well covered by operating cash flow (67.9%).

Interest Coverage: JETPAK's interest payments on its debt are well covered by EBIT (10.4x coverage).

Balance Sheet

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Dividend

What is Jetpak Top Holding current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

5.32%

Forecast Dividend Yield

Dividend Yield vs Market

Notable Dividend: Unable to evaluate JETPAK's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate JETPAK's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if JETPAK's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if JETPAK's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as JETPAK has not reported any payouts.

Discover strong dividend paying companies

Management

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

6.6yrs

Average management tenure

CEO

Kenneth Marx (58 yo)

6.58yrs

Tenure

kr10,513,000

Compensation

Mr. Kenneth Marx serves as the Chief Executive Officer of Jetpak Group AB since January 1, 2016.. Mr. Marx serves as the Chief Executive Officer of Jetpak Top Holding AB (publ) since 2016. Mr. Marx serve...

CEO Compensation Analysis

Compensation vs Market: Kenneth's total compensation ($USD1.02M) is above average for companies of similar size in the Swedish market ($USD245.23K).

Compensation vs Earnings: Kenneth's compensation has increased by more than 20% in the past year.

Leadership Team

Experienced Management: JETPAK's management team is seasoned and experienced (6.6 years average tenure).

Board Members

Experienced Board: JETPAK's board of directors are considered experienced (3.5 years average tenure).

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.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/08/15 00:00
End of Day Share Price	2022/08/12 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31