Financials Cherry SE

Equities

C3RY

DE000A3CRRN9

Computer Hardware

Market Closed - Xetra Other stock markets 11:36:14 2024-05-31 am EDT			5-day change	1st Jan Change
2.3 ^EUR	+4.55%		-7.07%	-27.79%

May. 22	Cherry SE Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 25	Transcript : Cherry SE - Analyst/Investor Day

Valuation

Fiscal Period: December	2021	2022	2023	2024	2025
Capitalization ¹	605.1	179.3	53.34	53.34	-
Enterprise Value (EV) ¹	513.9	103.3	73.86	69.5	49.99
P/E ratio	59.3 x	-5.09 x	-0.58 x	-7.26 x	25.6 x
Yield	-	-	-	-	-
Capitalization / Revenue	3.59 x	1.35 x	0.58 x	0.39 x	0.36 x
EV / Revenue	3.05 x	0.78 x	0.58 x	0.51 x	0.33 x
EV / EBITDA	12 x	8.47 x	-7.17 x	9.98 x	2.64 x
EV / FCF	-77.7 x	-25.8 x	-2.03 x	45.3 x	5.37 x
FCF Yield	-1.29%	-3.88%	-49.4%	2.21%	18.6%
Price to Book	2.06 x	0.7 x	0.23 x	0.24 x	0.24 x
Nbr of stocks (in thousands)	24,300	23,650	23,190	23,190	-
Reference price ²	24.90	7.580	2.300	2.300	2.300
Announcement Date	3/31/22	3/30/23	4/26/24	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2021	2022	2023	2024	2025
Net sales ¹	168.5	132.5	126.5	137.4	149.8
EBITDA ¹	42.8	12.2	-10.3	6.967	18.92
EBIT ¹	33.7	-3.1	-13.26	-6.967	4.175
Operating Margin	20%	-2.34%	-10.48%	-5.07%	2.79%
Earnings before Tax (EBT) ¹	13.49	-38.35	-133.8	-8.15	4
Net income ¹	9.287	-35.73	-126.9	-7.533	2.15
Net margin	5.51%	-26.96%	-100.3%	-5.48%	1.44%
EPS ²	0.4200	-1.490	-5.450	-0.3167	0.0900
Free Cash Flow ¹	-6.612	-4.009	-29.32	1.533	9.3
FCF margin	-3.92%	-3.03%	-22.91%	1.12%	6.21%
FCF Conversion (EBITDA)	-	-	-	22.01%	49.14%
FCF Conversion (Net income)	-	-	-	-	432.56%
Dividend per Share ²	-	-	-	-	-
Announcement Date	3/31/22	3/30/23	4/26/24	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 Q1	2022 Q2	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4
Net sales ¹	33	32.9	28.7	32.61	61.31	27.3	37.9
EBITDA	4.4	-	-	-	-	-	-
EBIT	0.5	-	-5.1	0.853	-5.704	-	-
Operating Margin	1.52%	-	-17.77%	2.62%	-9.3%	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-
Net income	-	-	-5.321	0.288	-5.034	-	-
Net margin	-	-	-18.54%	0.88%	-8.21%	-	-
EPS	-	-	-0.2300	0.0100	-0.2200	-	-
Dividend per Share	-	-	-	-	-	-	-
Announcement Date	5/11/22	8/11/22	5/15/23	8/14/23	8/14/23	11/15/23	4/26/24

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2021	2022	2023	2024	2025
Net Debt ¹	-	-	6.05	16.2	-
Net Cash position ¹	91.1	75.9	-	-	3.35
Leverage (Debt/EBITDA)	-	-	-1.476 x	2.321 x	-
Free Cash Flow ¹	-6.61	-4.01	-29.3	1.53	9.3
ROE (net income / shareholders' equity)	4.26%	-13.1%	-11.3%	-4.6%	1.83%
ROA (Net income/ Total Assets)	-	-9.04%	-9.1%	-5%	-
Assets ¹	-	395	284.1	150.7	-
Book Value Per Share ²	12.10	10.80	9.870	9.770	9.750
Cash Flow per Share	-	-	-	-	-
Capex ¹	14.4	9.78	14.4	12.3	13
Capex / Sales	8.56%	7.38%	11.25%	8.95%	8.66%
Announcement Date	3/31/22	3/30/23	4/26/24	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Cherry SE

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

2.3 EUR

Average target price

4 EUR

Spread / Average Target

+73.91%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Computer Peripherals

	1st Jan change	Capi.
CHERRY SE	-27.79%	57.84M
SEIKO EPSON CORPORATION	+19.73%	5.33B
CHICONY ELECTRONICS CO., LTD.	+6.57%	4.17B
DIEBOLD NIXDORF, INCORPORATED	+51.12%	1.64B
KNOWLES CORPORATION	-2.18%	1.57B
SOCIÉTÉ INDUSTRIELLE ET FINANCIÈRE DE L'ARTOIS	-2.88%	1.46B
PRIMAX ELECTRONICS LTD.	+49.19%	1.44B
CHENBRO MICOM CO., LTD.	+12.34%	1.13B
NIDEC CHAUN-CHOUNG TECHNOLOGY CORPORATION	+127.00%	904M
EIZO CORPORATION	+1.32%	654M

Computer Peripherals