Upcoming Dividend • May 12
Upcoming dividend of €1.68 per share Eligible shareholders must have bought the stock before 19 May 2026. Payment date: 21 May 2026. The company is paying out more than 100% of its profits and is paying out 88% of its cash flow. Trailing yield: 4.8%. Lower than top quartile of Belgian dividend payers (6.3%). Higher than average of industry peers (0.6%). Price Target Changed • May 04
Price target increased by 7.2% to €68.29 Up from €63.68, the current price target is an average from 14 analysts. New target price is approximately in line with last closing price of €71.35. Stock is up 32% over the past year. The company is forecast to post earnings per share of €2.97 for next year compared to €2.78 last year. Reported Earnings • Apr 14
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: €2.78 (down from €4.24 in FY 2024). Revenue: €839.6m (down 10.0% from FY 2024). Net income: €112.5m (down 34% from FY 2024). Profit margin: 13% (down from 18% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.7%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Semiconductor industry in Europe. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 17% per year. Duyuru • Apr 13
Melexis NV, Annual General Meeting, May 12, 2026 Melexis NV, Annual General Meeting, May 12, 2026, at 11:00 Romance Standard Time. Buy Or Sell Opportunity • Mar 25
Now 26% overvalued Over the last 90 days, the stock has fallen 5.8% to €53.40. The fair value is estimated to be €42.52, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 19%. For the next 3 years, revenue is forecast to grow by 6.5% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Price Target Changed • Feb 09
Price target decreased by 8.2% to €65.75 Down from €71.64, the current price target is an average from 14 analysts. New target price is 18% above last closing price of €55.70. Stock is down 0.4% over the past year. The company is forecast to post earnings per share of €3.17 for next year compared to €2.78 last year. New Risk • Feb 06
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 133% Cash payout ratio: 153% Dividend yield: 6.9% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 133% Cash payout ratio: 153% Minor Risks High level of debt (58% net debt to equity). Share price has been volatile over the past 3 months (5.6% average weekly change). Reported Earnings • Feb 05
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: €2.78 (down from €4.24 in FY 2024). Revenue: €839.6m (down 10.0% from FY 2024). Net income: €112.5m (down 34% from FY 2024). Profit margin: 13% (down from 18% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.7%. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Semiconductor industry in Europe. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 20% per year. New Risk • Dec 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Belgian stocks, typically moving 4.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (46% net debt to equity). Dividend is not well covered by cash flows (160% cash payout ratio). Share price has been volatile over the past 3 months (4.3% average weekly change). Profit margins are more than 30% lower than last year (13% net profit margin). Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €60.50, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 19x in the Semiconductor industry in Europe. Total loss to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €55.58 per share. New Risk • Nov 02
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 13% Last year net profit margin: 21% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks High level of debt (46% net debt to equity). Dividend is not well covered by cash flows (160% cash payout ratio). Profit margins are more than 30% lower than last year (13% net profit margin). Reported Earnings • Nov 02
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: EPS: €0.68 (down from €1.27 in 3Q 2024). Revenue: €215.3m (down 13% from 3Q 2024). Net income: €27.5m (down 46% from 3Q 2024). Profit margin: 13% (down from 21% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.6%. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Semiconductor industry in Europe. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Oct 30
Now 20% overvalued Over the last 90 days, the stock has fallen 2.0% to €65.20. The fair value is estimated to be €54.26, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.5% over the last 3 years. Earnings per share has declined by 5.5%. For the next 3 years, revenue is forecast to grow by 8.2% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Declared Dividend • Oct 08
First half dividend of €0.91 announced Shareholders will receive a dividend of €0.91. Ex-date: 14th October 2025 Payment date: 16th October 2025 Dividend yield will be 3.9%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is not covered by earnings (115% earnings payout ratio) nor is it covered by cash flows (158% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 27% to bring the payout ratio under control. EPS is expected to grow by 57% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Aug 01
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: €0.94 (down from €1.22 in 2Q 2024). Revenue: €211.6m (down 14% from 2Q 2024). Net income: €37.8m (down 23% from 2Q 2024). Profit margin: 18% (down from 20% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 45%. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Semiconductor industry in Europe. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 7% per year. Price Target Changed • Jul 09
Price target increased by 8.2% to €74.14 Up from €68.50, the current price target is an average from 11 analysts. New target price is approximately in line with last closing price of €73.40. Stock is down 12% over the past year. The company is forecast to post earnings per share of €2.95 for next year compared to €4.24 last year. Price Target Changed • Jul 02
Price target increased by 7.9% to €71.95 Up from €66.68, the current price target is an average from 11 analysts. New target price is approximately in line with last closing price of €70.50. Stock is down 15% over the past year. The company is forecast to post earnings per share of €2.94 for next year compared to €4.24 last year. Upcoming Dividend • May 16
Upcoming dividend of €1.68 per share Eligible shareholders must have bought the stock before 20 May 2025. Payment date: 22 May 2025. Payout ratio is on the higher end at 87%, and the cash payout ratio is above 100%. Trailing yield: 6.1%. Lower than top quartile of Belgian dividend payers (6.6%). Higher than average of industry peers (1.0%). Declared Dividend • May 02
Dividend of €1.68 announced Shareholders will receive a dividend of €1.68. Ex-date: 20th May 2025 Payment date: 22nd May 2025 Dividend yield will be 4.7%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by earnings (87% earnings payout ratio) but not covered by cash flows (118% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 14
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: €4.24 (down from €5.19 in FY 2023). Revenue: €932.8m (down 3.3% from FY 2023). Net income: €171.4m (down 18% from FY 2023). Profit margin: 18% (down from 22% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.8%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Semiconductor industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Duyuru • Apr 14
Melexis NV, Annual General Meeting, May 13, 2025 Melexis NV, Annual General Meeting, May 13, 2025, at 11:00 Romance Standard Time. Reported Earnings • Feb 07
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: €4.24 (down from €5.19 in FY 2023). Revenue: €932.8m (down 3.3% from FY 2023). Net income: €171.4m (down 18% from FY 2023). Profit margin: 18% (down from 22% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.8%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Semiconductor industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Price Target Changed • Feb 06
Price target decreased by 7.1% to €70.27 Down from €75.64, the current price target is an average from 11 analysts. New target price is 30% above last closing price of €54.25. Stock is down 33% over the past year. The company is forecast to post earnings per share of €4.50 for next year compared to €5.18 last year. Price Target Changed • Nov 14
Price target decreased by 10% to €77.55 Down from €86.29, the current price target is an average from 11 analysts. New target price is 34% above last closing price of €57.80. Stock is down 29% over the past year. The company is forecast to post earnings per share of €4.50 for next year compared to €5.18 last year. Price Target Changed • Nov 03
Price target decreased by 7.3% to €83.56 Down from €90.11, the current price target is an average from 11 analysts. New target price is 39% above last closing price of €59.95. Stock is down 18% over the past year. The company is forecast to post earnings per share of €4.47 for next year compared to €5.18 last year. Reported Earnings • Nov 01
Third quarter 2024 earnings: Revenues and EPS in line with analyst expectations Third quarter 2024 results: EPS: €1.27 (down from €1.41 in 3Q 2023). Revenue: €247.9m (flat on 3Q 2023). Net income: €51.2m (down 10.0% from 3Q 2023). Profit margin: 21% (down from 23% in 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Semiconductor industry in Europe. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Declared Dividend • Oct 10
First half dividend of €0.91 announced Shareholders will receive a dividend of €0.91. Ex-date: 15th October 2024 Payment date: 17th October 2024 Dividend yield will be 3.6%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by earnings (71% earnings payout ratio) but not covered by cash flows (214% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Sep 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. MD, CEO & Director Marc Biron was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 02
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: EPS: €1.21 (down from €1.28 in 2Q 2023). Revenue: €245.7m (up 3.8% from 2Q 2023). Net income: €49.1m (down 5.5% from 2Q 2023). Profit margin: 20% (down from 22% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.1%. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Semiconductor industry in Europe. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 08
Upcoming dividend of €1.68 per share Eligible shareholders must have bought the stock before 15 May 2024. Payment date: 17 May 2024. Payout ratio is a comfortable 71% but the company is not cash flow positive. Trailing yield: 4.5%. Lower than top quartile of Belgian dividend payers (6.9%). Higher than average of industry peers (0.8%). Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €82.80, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 15x in the Semiconductor industry in Europe. Total loss to shareholders of 2.2% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €80.71 per share. New Risk • Apr 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Belgian stocks, typically moving 5.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (55% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.9% average weekly change). Reported Earnings • Apr 15
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: €5.19 (up from €4.88 in FY 2022). Revenue: €964.3m (up 15% from FY 2022). Net income: €209.5m (up 6.2% from FY 2022). Profit margin: 22% (down from 24% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.9%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Semiconductor industry in Europe. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 11
Final dividend of €1.68 announced Shareholders will receive a dividend of €1.68. Ex-date: 15th May 2024 Payment date: 17th May 2024 Dividend yield will be 3.2%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by earnings (71% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 09
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: €5.18 (up from €4.88 in FY 2022). Revenue: €964.3m (up 15% from FY 2022). Net income: €209.5m (up 6.2% from FY 2022). Profit margin: 22% (down from 24% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.9%. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Semiconductor industry in Europe. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Duyuru • Feb 07
Melexis NV, Annual General Meeting, May 14, 2024 Melexis NV, Annual General Meeting, May 14, 2024. Buying Opportunity • Oct 30
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 29%. The fair value is estimated to be €87.44, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 8.0% per annum. Earnings is also forecast to grow by 7.3% per annum over the same time period. Reported Earnings • Oct 26
Third quarter 2023 earnings: EPS exceeds analyst expectations Third quarter 2023 results: EPS: €1.41 (up from €1.21 in 3Q 2022). Revenue: €248.6m (up 13% from 3Q 2022). Net income: €56.8m (up 17% from 3Q 2022). Profit margin: 23% (in line with 3Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.4%. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Semiconductor industry in Europe. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Oct 10
Upcoming dividend of €0.91 per share at 4.3% yield Eligible shareholders must have bought the stock before 17 October 2023. Payment date: 19 October 2023. Payout ratio is a comfortable 69% but the company is not cash flow positive. Trailing yield: 4.3%. Lower than top quartile of Belgian dividend payers (7.8%). Higher than average of industry peers (1.0%).