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MIX

MiX TelematicsJSE:MIX Stock Report

Market Cap

R4.3b

7D

2.9%

1Y

42.5%

Updated

19 Oct, 2021

Data

Company Financials +
MIX fundamental analysis
Snowflake Score
Valuation2/6
Future Growth1/6
Past Performance5/6
Financial Health5/6
Dividends2/6

MIX Overview

MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service (Saas) delivery model.

MiX Telematics Competitors

Price History & Performance

Summary of all time highs, changes and price drops for MiX Telematics
Historical stock prices
Current Share PriceR7.84
52 Week HighR5.02
52 Week LowR9.45
Beta0.32
1 Month Change0.77%
3 Month Change1.16%
1 Year Change42.55%
3 Year Change-4.39%
5 Year Change120.85%
Change since IPO335.56%

Recent News & Updates

Shareholder Returns

MIXZA SoftwareZA Market
7D2.9%3.6%1.0%
1Y42.5%46.6%20.8%

Return vs Industry: MIX exceeded the ZA Software industry which returned 40.4% over the past year.

Return vs Market: MIX exceeded the ZA Market which returned 20.7% over the past year.

Price Volatility

Is MIX's price volatile compared to industry and market?
MIX volatility
MIX Beta0.32
Industry Beta0.48
Market Beta1

Stable Share Price: MIX is not significantly more volatile than the rest of ZA stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: MIX's weekly volatility (8%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1996989Joss Joselowitzhttps://www.mixtelematics.com

MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service (Saas) delivery model. The company offers MiX Fleet Manager, a web-based application, which provides commercial fleet management solution that gives user live and historical views of driver and vehicle performance information, including vehicle tracking and status information, as well as alerts and notifications; MiX Asset Manager, a portfolio of asset tracking products comprising generators, light towers, storage tanks, and pumps; and Matrix, a mobile asset management solutions that offers real-time and historical vehicle tracking and positioning, unauthorized vehicle use alerts, panic emergency response, crash alerts, driver behavior alerts, fuel tax logbooks, and vehicle maintenance notifications for entry-level fleets and consumers. It also provides Beam-e, a crowdsourcing platform to locate vehicles without the expense of utilizing a traditional cellular network connection, and entry-level tracking and recovery services; MiX Now, a system that helps companies monitor and manage the behavior and performance of their vehicles and drivers.

MiX Telematics Fundamentals Summary

How do MiX Telematics's earnings and revenue compare to its market cap?
MIX fundamental statistics
Market CapUS$298.02m
Earnings (TTM)US$15.70m
Revenue (TTM)US$134.30m

19.0x

P/E Ratio

2.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MIX income statement (TTM)
RevenueUS$134.30m
Cost of RevenueUS$47.33m
Gross ProfitUS$86.97m
ExpensesUS$71.26m
EarningsUS$15.70m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Oct 28, 2021

Earnings per share (EPS)0.028
Gross Margin64.76%
Net Profit Margin11.69%
Debt/Equity Ratio2.3%

How did MIX perform over the long term?

See historical performance and comparison

Dividends

1.9%

Current Dividend Yield

40%

Payout Ratio

Valuation

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

37.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MIX (ZAR7.84) is trading below our estimate of fair value (ZAR12.56)

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


Price To Earnings Ratio

PE vs Industry: MIX is poor value based on its PE Ratio (19x) compared to the African Software industry average (11.9x).

PE vs Market: MIX is poor value based on its PE Ratio (19x) compared to the ZA market (11.5x).


Price to Earnings Growth Ratio

PEG Ratio: MIX is poor value based on its PEG Ratio (4.3x)


Price to Book Ratio

PB vs Industry: MIX is overvalued based on its PB Ratio (2.3x) compared to the XF Software industry average (1.2x).


Future Growth

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

4.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MIX's forecast earnings growth (4.4% per year) is below the savings rate (8.8%).

Earnings vs Market: MIX's earnings (4.4% per year) are forecast to grow slower than the ZA market (12.3% per year).

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

Revenue vs Market: MIX's revenue (8.6% per year) is forecast to grow faster than the ZA market (6.1% per year).

High Growth Revenue: MIX's revenue (8.6% 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 MIX's Return on Equity is forecast to be high in 3 years time


Past Performance

How has MiX Telematics performed over the past 5 years?

6.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MIX has high quality earnings.

Growing Profit Margin: MIX's current net profit margins (11.7%) are higher than last year (6.1%).


Past Earnings Growth Analysis

Earnings Trend: MIX's earnings have grown by 6.4% per year over the past 5 years.

Accelerating Growth: MIX's earnings growth over the past year (86.7%) exceeds its 5-year average (6.4% per year).

Earnings vs Industry: MIX earnings growth over the past year (86.7%) exceeded the Software industry 13.7%.


Return on Equity

High ROE: MIX's Return on Equity (12.2%) is considered low.


Financial Health

How is MiX Telematics's financial position?


Financial Position Analysis

Short Term Liabilities: MIX's short term assets ($80.9M) exceed its short term liabilities ($36.0M).

Long Term Liabilities: MIX's short term assets ($80.9M) exceed its long term liabilities ($14.5M).


Debt to Equity History and Analysis

Debt Level: MIX's debt to equity ratio (2.3%) is considered satisfactory.

Reducing Debt: MIX's debt to equity ratio has increased from 0.7% to 2.3% over the past 5 years.

Debt Coverage: MIX's debt is well covered by operating cash flow (1132.1%).

Interest Coverage: MIX's interest payments on its debt are well covered by EBIT (250.8x coverage).


Balance Sheet


Dividend

What is MiX Telematics's current dividend yield, its reliability and sustainability?

1.94%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MIX's dividend (1.94%) isn’t notable compared to the bottom 25% of dividend payers in the ZA market (3.05%).

High Dividend: MIX's dividend (1.94%) is low compared to the top 25% of dividend payers in the ZA market (8.06%).


Stability and Growth of Payments

Stable Dividend: MIX's dividend payments have been volatile in the past 10 years.

Growing Dividend: MIX's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (39.7%), MIX's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

4.6yrs

Average management tenure


CEO

Joss Joselowitz (62 yo)

25.75yrs

Tenure

US$701,070

Compensation

Mr. Stefan Brian Joselowitz, also known as Joss, serves as Chief Executive Officer and Director of MiX Telematics Europe Limited since 1996 and serves as its President. Mr. Joselowitz serves as Group Chief...


CEO Compensation Analysis

Compensation vs Market: Joss's total compensation ($USD701.07K) is above average for companies of similar size in the ZA market ($USD478.25K).

Compensation vs Earnings: Joss's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: MIX's management team is considered experienced (4.6 years average tenure).


Board Members

Experienced Board: MIX's board of directors are considered experienced (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.


Top Shareholders

Company Information

MiX Telematics Limited's employee growth, exchange listings and data sources


Key Information

  • Name: MiX Telematics Limited
  • Ticker: MIX
  • Exchange: JSE
  • Founded: 1996
  • Industry: Application Software
  • Sector: Software
  • Market Cap: R4.330b
  • Shares outstanding: 552.26m
  • Website: https://www.mixtelematics.com

Number of Employees


Location

  • MiX Telematics Limited
  • 750 Park of Commerce Boulevard
  • Suite 100
  • Boca Raton
  • Florida
  • 33487
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/19 21:44
End of Day Share Price2021/10/19 00:00
Earnings2021/06/30
Annual Earnings2021/03/31


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.