MEKO AB |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 122.8 SEK | -0.32% |
|
+0.99% | +12.25% |
| May. 16 | Transcript : Meko AB, Q1 2024 Earnings Call, May 16, 2024 | |
| May. 16 | Meko AB Announces Board Changes | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 5,241 | 5,131 | 8,848 | 6,282 | 6,125 | 6,898 | - | - |
| Enterprise Value (EV) 1 | 10,740 | 9,665 | 11,112 | 9,840 | 9,105 | 9,646 | 9,170 | 8,594 |
| P/E ratio | 12.7 x | 11.9 x | 15.4 x | 13.9 x | 14.6 x | 16.2 x | 12.5 x | 9.6 x |
| Yield | - | - | 1.91% | 2.93% | 3.38% | 3.17% | 3.41% | 3.65% |
| Capitalization / Revenue | 0.44 x | 0.45 x | 0.7 x | 0.44 x | 0.37 x | 0.38 x | 0.37 x | 0.37 x |
| EV / Revenue | 0.91 x | 0.84 x | 0.89 x | 0.68 x | 0.54 x | 0.53 x | 0.5 x | 0.46 x |
| EV / EBITDA | 7.01 x | 6.14 x | 6.55 x | 5.42 x | 4.67 x | 5.37 x | 4.72 x | 4.05 x |
| EV / FCF | 10.6 x | 8.67 x | 10.8 x | -20.3 x | 8.76 x | 9.62 x | 7.51 x | 6.42 x |
| FCF Yield | 9.41% | 11.5% | 9.23% | -4.93% | 11.4% | 10.4% | 13.3% | 15.6% |
| Price to Book | 1.22 x | 1.13 x | 1.69 x | 1.08 x | 1.01 x | 1.11 x | 1.05 x | 0.98 x |
| Nbr of stocks (in thousands) | 56,323 | 56,323 | 56,323 | 55,793 | 55,989 | 55,989 | - | - |
| Reference price 2 | 93.05 | 91.10 | 157.1 | 112.6 | 109.4 | 123.2 | 123.2 | 123.2 |
| Announcement Date | 2/7/20 | 2/12/21 | 2/11/22 | 2/15/23 | 2/14/24 | - | - | - |
1SEK in Million2SEK
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 11,842 | 11,511 | 12,552 | 14,391 | 16,762 | 18,127 | 18,487 | 18,854 |
| EBITDA 1 | 1,531 | 1,574 | 1,696 | 1,817 | 1,950 | 1,797 | 1,943 | 2,121 |
| EBIT 1 | 874 | 937 | 1,031 | 945 | 963 | 851 | 989 | 1,158 |
| Operating Margin | 7.38% | 8.14% | 8.21% | 6.57% | 5.75% | 4.69% | 5.35% | 6.14% |
| Earnings before Tax (EBT) 1 | 555 | 596 | 759 | 581 | 582 | 588.6 | 755.2 | 933.5 |
| Net income 1 | 413 | 432 | 572 | 454 | 419 | 428.1 | 556 | 723.4 |
| Net margin | 3.49% | 3.75% | 4.56% | 3.15% | 2.5% | 2.36% | 3.01% | 3.84% |
| EPS 2 | 7.340 | 7.670 | 10.21 | 8.120 | 7.500 | 7.596 | 9.867 | 12.84 |
| Free Cash Flow 1 | 1,011 | 1,115 | 1,026 | -485 | 1,039 | 1,003 | 1,221 | 1,339 |
| FCF margin | 8.54% | 9.69% | 8.17% | -3.37% | 6.2% | 5.53% | 6.6% | 7.1% |
| FCF Conversion (EBITDA) | 66.04% | 70.84% | 60.5% | - | 53.28% | 55.82% | 62.84% | 63.13% |
| FCF Conversion (Net income) | 244.79% | 258.1% | 179.37% | - | 247.97% | 234.3% | 219.59% | 185.09% |
| Dividend per Share 2 | - | - | 3.000 | 3.300 | 3.700 | 3.900 | 4.200 | 4.500 |
| Announcement Date | 2/7/20 | 2/12/21 | 2/11/22 | 2/15/23 | 2/14/24 | - | - | - |
1SEK in Million2SEK
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 |
|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,218 | 3,155 | 3,415 | 3,744 | 4,007 | 3,973 | 4,453 | 4,255 | 4,373 |
| EBITDA | - | - | 414 | - | 436 | - | - | - | - |
| EBIT 1 | - | 225 | 240 | 281 | 198 | 227 | 270 | 292 | 175 |
| Operating Margin | - | 7.13% | 7.03% | 7.51% | 4.94% | 5.71% | 6.06% | 6.86% | 4% |
| Earnings before Tax (EBT) 1 | 151 | - | 143 | 179 | 95 | - | 224 | 225 | 20 |
| Net income 1 | - | - | 97 | - | 114 | - | - | - | -4 |
| Net margin | - | - | 2.84% | - | 2.85% | - | - | - | -0.09% |
| EPS | - | - | 1.730 | - | 2.050 | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - |
| Announcement Date | 2/11/22 | 5/11/22 | 8/24/22 | 11/2/22 | 2/15/23 | 5/16/23 | 8/23/23 | 11/9/23 | 2/14/24 |
1SEK in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 5,499 | 4,534 | 2,264 | 3,558 | 2,980 | 2,748 | 2,272 | 1,696 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.592 x | 2.881 x | 1.335 x | 1.958 x | 1.528 x | 1.529 x | 1.169 x | 0.7996 x |
| Free Cash Flow 1 | 1,011 | 1,115 | 1,026 | -485 | 1,039 | 1,003 | 1,221 | 1,339 |
| ROE (net income / shareholders' equity) | 10.2% | 9.78% | 11.8% | 8.3% | 6.9% | 6.94% | 8.62% | 10.5% |
| ROA (Net income/ Total Assets) | 3.48% | 3.45% | 4.5% | 3.13% | 7.08% | 2.68% | 3.52% | 4.6% |
| Assets 1 | 11,868 | 12,533 | 12,711 | 14,501 | 5,920 | 15,961 | 15,815 | 15,727 |
| Book Value Per Share 2 | 76.40 | 80.40 | 92.80 | 104.0 | 108.0 | 111.0 | 117.0 | 126.0 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 131 | 510 | 201 | 1,533 | 213 | 254 | 259 | 283 |
| Capex / Sales | 1.11% | 4.43% | 1.6% | 10.65% | 1.27% | 1.4% | 1.4% | 1.5% |
| Announcement Date | 2/7/20 | 2/12/21 | 2/11/22 | 2/15/23 | 2/14/24 | - | - | - |
1SEK in Million2SEK
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
BUY
Number of Analysts
1
Last Close Price
123.2
SEK
Average target price
135
SEK
Spread / Average Target
+9.58%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +12.25% | 654M | |
| +3.01% | 57.64B | |
| +8.32% | 48.02B | |
| -1.22% | 761M | |
| +1.16% | 372M | |
| -27.00% | 341M | |
| -66.46% | 60.1M |
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