Board Change • May 21
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Non-Executive Independent Director Kazuhiro Takenaka was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 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. 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 • Nov 01
Third quarter 2024 earnings released: EPS: €1.27 (vs €1.41 in 3Q 2023) 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 is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Semiconductor industry in Germany. 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 17% 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 1.1%. 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. Buy Or Sell Opportunity • Aug 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.4% to €74.75. The fair value is estimated to be €94.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 7.2% per annum. Earnings are also forecast to grow by 6.6% per annum over the same time period. 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 German dividend payers (4.6%). Higher than average of industry peers (1.0%). Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: €1.31 (vs €1.26 in 1Q 2023) First quarter 2024 results: EPS: €1.31 (up from €1.26 in 1Q 2023). Revenue: €241.8m (up 5.8% from 1Q 2023). Net income: €52.9m (up 4.0% from 1Q 2023). Profit margin: 22% (in line with 1Q 2023). Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 15
Full year 2023 earnings released: EPS: €5.19 (vs €4.88 in FY 2022) 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 is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Semiconductor industry in Germany. 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 7% 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 1.1%. 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 released: EPS: €5.18 (vs €4.88 in FY 2022) 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 is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Semiconductor industry in Germany. 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. Buy Or Sell Opportunity • Feb 08
Now 22% undervalued Over the last 90 days, the stock has risen 10% to €81.65. The fair value is estimated to be €104, 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 7.7% per annum. Earnings are also forecast to grow by 5.7% per annum over the same time period. Duyuru • Feb 07
Melexis NV, Annual General Meeting, May 14, 2024 Melexis NV, Annual General Meeting, May 14, 2024. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: €1.41 (vs €1.21 in 3Q 2022) 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 is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Semiconductor industry in Germany. 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 3% 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 German dividend payers (5.0%). Higher than average of industry peers (1.1%). New Risk • Aug 04
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 45% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (45% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: €1.28 (vs €1.18 in 2Q 2022) Second quarter 2023 results: EPS: €1.28 (up from €1.18 in 2Q 2022). Revenue: €236.7m (up 14% from 2Q 2022). Net income: €51.9m (up 9.1% from 2Q 2022). Profit margin: 22% (in line with 2Q 2022). Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 03
Upcoming dividend of €1.54 per share at 5.0% yield Eligible shareholders must have bought the stock before 10 May 2023. Payment date: 12 May 2023. Payout ratio is a comfortable 72% and the cash payout ratio is 80%. Trailing yield: 5.0%. Within top quartile of German dividend payers (4.5%). Higher than average of industry peers (1.1%). Reported Earnings • Apr 10
Full year 2022 earnings released: EPS: €4.88 (vs €3.25 in FY 2021) Full year 2022 results: EPS: €4.88 (up from €3.25 in FY 2021). Revenue: €836.2m (up 30% from FY 2021). Net income: €197.2m (up 50% from FY 2021). Profit margin: 24% (up from 20% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 02
Full year 2022 earnings released: EPS: €4.88 (vs €3.25 in FY 2021) Full year 2022 results: EPS: €4.88 (up from €3.25 in FY 2021). Revenue: €836.2m (up 30% from FY 2021). Net income: €197.2m (up 50% from FY 2021). Profit margin: 24% (up from 20% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: €1.21 (vs €0.90 in 3Q 2021) Third quarter 2022 results: EPS: €1.21 (up from €0.90 in 3Q 2021). Revenue: €219.8m (up 35% from 3Q 2021). Net income: €48.8m (up 34% from 3Q 2021). Profit margin: 22% (in line with 3Q 2021). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Oct 11
Upcoming dividend of €0.91 per share Eligible shareholders must have bought the stock before 18 October 2022. Payment date: 20 October 2022. Payout ratio is a comfortable 63% and the cash payout ratio is 84%. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (5.4%). Higher than average of industry peers (1.3%). Buying Opportunity • Sep 24
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €88.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 33%. For the next 3 years, revenue is forecast to grow by 8.4% per annum. Earnings is also forecast to grow by 5.7% per annum over the same time period. Reported Earnings • Aug 27
Second quarter 2022 earnings released: EPS: €1.18 (vs €0.83 in 2Q 2021) Second quarter 2022 results: EPS: €1.18 (up from €0.83 in 2Q 2021). Revenue: €208.4m (up 31% from 2Q 2021). Net income: €47.6m (up 42% from 2Q 2021). Profit margin: 23% (up from 21% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 19%, compared to a 12% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 28
Second quarter 2022 earnings released: EPS: €1.18 (vs €0.83 in 2Q 2021) Second quarter 2022 results: EPS: €1.18 (up from €0.83 in 2Q 2021). Revenue: €208.4m (up 31% from 2Q 2021). Net income: €47.6m (up 42% from 2Q 2021). Profit margin: 23% (up from 21% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 15%, compared to a 14% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 04
Upcoming dividend of €0.91 per share Eligible shareholders must have bought the stock before 11 May 2022. Payment date: 13 May 2022. Payout ratio is a comfortable 69% and the cash payout ratio is 84%. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (4.1%). Higher than average of industry peers (1.1%). Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: €1.20 (vs €0.69 in 1Q 2021) First quarter 2022 results: EPS: €1.20 (up from €0.69 in 1Q 2021). Revenue: €184.1m (up 18% from 1Q 2021). Net income: €48.6m (up 75% from 1Q 2021). Profit margin: 26% (up from 18% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 15%, compared to a 15% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Apr 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be €98.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has grown by 6.8%. For the next 3 years, revenue is forecast to grow by 9.6% per annum. Earnings is also forecast to grow by 10% per annum over the same time period. Buying Opportunity • Apr 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be €97.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has grown by 6.9%. For the next 3 years, revenue is forecast to grow by 9.6% per annum. Earnings is also forecast to grow by 10% per annum over the same time period. Board Change • Mar 22
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Non-Executive Independent Director Martine Baelmans was the last independent director to join the board, commencing their role in 2014. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Mar 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 28%. The fair value is estimated to be €94.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% per annum over the last 3 years. Earnings per share has grown by 6.9% per annum over the last 3 years. Duyuru • Feb 04
Melexis NV Provides Sales Guidance for the First Quarter of 2022 Melexis NV provided sales guidance for the first quarter of 2022. The company expects the sales in the first quarter of 2022 to be in the range of EUR 177 million to EUR 183 million. Duyuru • Feb 03
Melexis NV, Annual General Meeting, May 10, 2022 Melexis NV, Annual General Meeting, May 10, 2022. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS €0.90 (vs €0.37 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €162.8m (up 34% from 3Q 2020). Net income: €36.5m (up 145% from 3Q 2020). Profit margin: 22% (up from 12% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Upcoming Dividend • Oct 12
Upcoming dividend of €0.91 per share Eligible shareholders must have bought the stock before 19 October 2021. Payment date: 21 October 2021. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (3.3%). Higher than average of industry peers (0.7%). Reported Earnings • Jul 29
Second quarter 2021 earnings released: EPS €0.83 (vs €0.24 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €159.1m (up 59% from 2Q 2020). Net income: €33.5m (up 246% from 2Q 2020). Profit margin: 21% (up from 9.6% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Upcoming Dividend • May 06
Upcoming dividend of €0.63 per share Eligible shareholders must have bought the stock before 13 May 2021. Payment date: 17 May 2021. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (3.1%). Higher than average of industry peers (0.6%). Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS €0.69 (vs €0.51 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €155.6m (up 13% from 1Q 2020). Net income: €27.8m (up 34% from 1Q 2020). Profit margin: 18% (up from 15% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Apr 12
Full year 2020 earnings released: EPS €1.72 (vs €1.49 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €507.5m (up 4.2% from FY 2019). Net income: €69.3m (up 15% from FY 2019). Profit margin: 14% (up from 12% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €81.50, the stock is trading at a trailing P/E ratio of 49.8x, down from the previous P/E ratio of 58.8x. This compares to an average P/E of 79x in the Semiconductor industry in Germany. Total returns to shareholders over the past three years were flat. Reported Earnings • Feb 06
Full year 2020 earnings released: EPS €1.72 (vs €1.49 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €507.5m (up 4.2% from FY 2019). Net income: €69.3m (up 15% from FY 2019). Profit margin: 14% (up from 12% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 06
Revenue beats expectations Revenue exceeded analyst estimates by 0.3%. Over the next year, revenue is forecast to grow 20%, compared to a 16% growth forecast for the Semiconductor industry in Germany. Is New 90 Day High Low • Feb 03
New 90-day high: €96.75 The company is up 45% from its price of €66.85 on 05 November 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 37% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €28.13 per share. Is New 90 Day High Low • Jan 15
New 90-day high: €94.90 The company is up 36% from its price of €69.75 on 16 October 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 28% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €28.57 per share. Is New 90 Day High Low • Dec 28
New 90-day high: €83.00 The company is up 24% from its price of €66.80 on 29 September 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 33% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €27.66 per share. Is New 90 Day High Low • Dec 11
New 90-day high: €81.50 The company is up 19% from its price of €68.50 on 11 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €25.27 per share. Is New 90 Day High Low • Nov 25
New 90-day high: €75.35 The company is up 9.0% from its price of €69.00 on 26 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €24.34 per share. Analyst Estimate Surprise Post Earnings • Nov 02
Revenue beats expectations Revenue exceeded analyst estimates by 8.6%. Over the next year, revenue is forecast to grow 13%, compared to a 19% growth forecast for the Semiconductor industry in Germany. Reported Earnings • Nov 02
Third quarter 2020 earnings released: EPS €0.37 The company reported a poor third quarter result with weaker earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: €121.6m (down 1.4% from 3Q 2019). Net income: €14.9m (down 3.0% from 3Q 2019). Profit margin: 12% (in line with 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 29
New 90-day low: €63.85 The company is down 12% from its price of €72.75 on 30 July 2020. The German market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €34.40 per share. Upcoming Dividend • Oct 13
Upcoming Dividend of €0.91 Per Share Will be paid on the 22nd of October to those who are registered shareholders by the 20th of October. The trailing yield of 1.8% is below the top quartile of German dividend payers (3.7%), but it is higher than industry peers (0.9%). Is New 90 Day High Low • Oct 12
New 90-day high: €74.45 The company is up 10.0% from its price of €67.75 on 14 July 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €34.11 per share. Is New 90 Day High Low • Sep 25
New 90-day low: €64.95 The company is down 3.0% from its price of €67.05 on 26 June 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €33.11 per share.