Minim (NasdaqCM:MINM) - Share price, News & Analysis

MINM fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	1/6
Past Performance	0/6
Financial Health	5/6
Dividends	0/6

MINM Stock Overview

Minim, Inc., together with its subsidiaries, designs, develops, sells, and supports an Internet of Things security platform in North America and internationally.

Rewards

Revenue is forecast to grow 10.72% per year

Risk Analysis

Earnings are forecast to decline by an average of 11.5% per year for the next 3 years

Currently unprofitable and not forecast to become profitable over the next 3 years

Has less than 1 year of cash runway

Shareholders have been diluted in the past year

+ 1 more risk

Minim Competitors

Franklin Wireless

NasdaqCM:FKWL

US$27.0m

Altigen Communications

OTCPK:ATGN

US$23.0m

Cleartronic

OTCPK:CLRI

US$12.5m

Actelis Networks

NasdaqCM:ASNS

US$29.5m

Price History & Performance

Summary of all time highs, changes and price drops for Minim
Historical stock prices
Current Share Price	US$0.46
52 Week High	US$5.28
52 Week Low	US$0.40
Beta	0.26
1 Month Change	-9.48%
3 Month Change	-36.64%
1 Year Change	-85.38%
3 Year Change	-53.92%
5 Year Change	-77.42%
Change since IPO	812.40%

Shareholder Returns

	MINM	US Communications	US Market
7D	0.04%	-0.6%	1.6%
1Y	-85.4%	-17.2%	-20.8%

Return vs Industry: MINM underperformed the US Communications industry which returned -17% over the past year.

Return vs Market: MINM underperformed the US Market which returned -20.4% over the past year.

Price Volatility

Is MINM's price volatile compared to industry and market?
MINM volatility
MINM Average Weekly Movement	11.1%
Communications Industry Average Movement	8.2%
Market Average Movement	8.1%
10% most volatile stocks in US Market	16.8%
10% least volatile stocks in US Market	3.2%

Stable Share Price: MINM is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 11% a week.

Volatility Over Time: MINM's weekly volatility (11%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1977	83	Gray Chynoweth	https://www.minim.com

Minim, Inc., together with its subsidiaries, designs, develops, sells, and supports an Internet of Things security platform in North America and internationally. It offers hardware products, including cable modems, cable modem/routers, gateways, mobile broadband modems, wireless routers, multimedia over coax adapters, mesh home networking devices, and other local area network products. The company also provides Minim mobile applications for end users to personalize and monitor their home and office network for speed testing, data usage tracking, security alerts, malware blocking, privacy settings, and parental controls; and Minim web application that enables technical support representatives of Internet Service Providers (ISPs) and businesses to offer remote support with network insights.

Minim Fundamentals Summary

How do Minim's earnings and revenue compare to its market cap?
MINM fundamental statistics
Market Cap	US$21.12m
Earnings (TTM)	-US$5.58m
Revenue (TTM)	US$53.70m

0.4x

P/S Ratio

-3.8x

P/E Ratio

Is MINM overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
MINM income statement (TTM)
Revenue	US$53.70m
Cost of Revenue	US$37.09m
Gross Profit	US$16.62m
Other Expenses	US$22.20m
Earnings	-US$5.58m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	-0.12
Gross Margin	30.94%
Net Profit Margin	-10.39%
Debt/Equity Ratio	26.0%

How did MINM perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for MINM. This is calculated by dividing MINM's market cap by their current preferred multiple.
What is MINM's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	US$21.12m

MINM 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	0.3x
Enterprise Value/EBITDA	-2.2x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does MINM's PS Ratio compare to its peers?

MINM PS Ratio vs Peers

The above table shows the PS ratio for MINM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PS	Estimated Growth	Market Cap
Peer Average	3.4x
FKWL Franklin Wireless	1.2x	n/a	US$27.0m
ATGN Altigen Communications	2.1x	n/a	US$23.0m
CLRI Cleartronic	6.8x	n/a	US$12.5m
ASNS Actelis Networks	3.3x	n/a	US$29.5m
MINM Minim	0.4x	10.7%	US$21.1m

Forward PS

Price-To-Sales vs Peers: MINM is good value based on its Price-To-Sales Ratio (0.4x) compared to the peer average (3.4x).

Price to Earnings Ratio vs Industry

How does MINM's PE Ratio compare vs other companies in the US Communications Industry?

Price-To-Sales vs Industry: MINM is good value based on its Price-To-Sales Ratio (0.4x) compared to the US Communications industry average (1.3x)

Price to Sales Ratio vs Fair Ratio

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

MINM PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.4x
Fair PS Ratio	0.7x

Price-To-Sales vs Fair Ratio: MINM is good value based on its Price-To-Sales Ratio (0.4x) compared to the estimated Fair Price-To-Sales Ratio (0.7x).

Share Price vs Fair Value

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

Below Fair Value: Insufficient data to calculate MINM's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate MINM's fair value for valuation analysis.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MINM's PEG Ratio to determine if it is good value.

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Future Growth

How is Minim forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

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

-11.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: MINM is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: MINM is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: MINM is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: MINM's revenue (10.7% per year) is forecast to grow faster than the US market (8.3% per year).

High Growth Revenue: MINM's revenue (10.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if MINM's Return on Equity is forecast to be high in 3 years time

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Past Performance

How has Minim performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

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

-24.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MINM is currently unprofitable.

Growing Profit Margin: MINM is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: MINM is unprofitable, and losses have increased over the past 5 years at a rate of 24.8% per year.

Accelerating Growth: Unable to compare MINM's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MINM is unprofitable, making it difficult to compare its past year earnings growth to the Communications industry (35.7%).

Return on Equity

High ROE: MINM has a negative Return on Equity (-20.5%), as it is currently unprofitable.

Discover strong past performing companies

Financial Health

How is Minim's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: MINM's short term assets ($46.3M) exceed its short term liabilities ($20.6M).

Long Term Liabilities: MINM's short term assets ($46.3M) exceed its long term liabilities ($499.8K).

Debt to Equity History and Analysis

Debt Level: MINM has more cash than its total debt.

Reducing Debt: MINM's debt to equity ratio has reduced from 48.6% to 26% over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: MINM has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: MINM has sufficient cash runway for more than 3 years if free cash flow continues to reduce at historical rates of 40.8% each year

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Dividend

What is Minim 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
Future Dividend Coverage

Dividend Yield vs Market

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

High Dividend: Unable to evaluate MINM'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 MINM's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MINM'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 MINM has not reported any payouts.

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Management

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

1.5yrs

Average management tenure

CEO

Gray Chynoweth (42 yo)

1.5yrs

Tenure

US$452,649

Compensation

Mr. Graham James Chynoweth also known as Gray, is Chief Executive Officer and Director of Zoom Telephonics, Inc since December 4, 2020. He serves as Chief Executive Officer and Director of Minim, Inc. sinc...

CEO Compensation Analysis

Compensation vs Market: Gray's total compensation ($USD452.65K) is below average for companies of similar size in the US market ($USD759.63K).

Compensation vs Earnings: Gray's compensation has increased whilst the company is unprofitable.

Leadership Team

Experienced Management: MINM's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.

Board Members

Experienced Board: MINM's board of directors are not considered experienced ( 1.5 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 been diluted in the past year, with total shares outstanding growing by 30.1%.

Data	Last Updated (UTC time)
Company Analysis	2022/06/29 00:00
End of Day Share Price	2022/06/29 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31