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Mikron Holding

SWX:MIKN
Snowflake Description

Flawless balance sheet and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MIKN
SWX
CHF111M
Market Cap
  1. Home
  2. CH
  3. Capital Goods
Company description

Mikron Holding AG, together with its subsidiaries, develops, produces, and markets automation and machining systems for precise and productive manufacturing processes worldwide. The last earnings update was 116 days ago. More info.


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MIKN Share Price and Events
7 Day Returns
1.2%
SWX:MIKN
-0.3%
CH Machinery
-0%
CH Market
1 Year Returns
-16.4%
SWX:MIKN
14.4%
CH Machinery
13.3%
CH Market
MIKN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Mikron Holding (MIKN) 1.2% -0.9% -5.5% -16.4% 7.7% -0.7%
CH Machinery -0.3% 7.6% 15.7% 14.4% 26.5% 41.5%
CH Market -0% 3.2% 4.8% 13.3% 21.9% 13%
1 Year Return vs Industry and Market
  • MIKN underperformed the Machinery industry which returned 14.4% over the past year.
  • MIKN underperformed the Market in Switzerland which returned 13.3% over the past year.
Price Volatility
MIKN
Industry
5yr Volatility vs Market

Value

 Is Mikron Holding undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Mikron Holding to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Mikron Holding.

SWX:MIKN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.9%
Perpetual Growth Rate 10-Year CH Government Bond Rate 3.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SWX:MIKN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CH Govt Bond Rate 3.3%
Equity Risk Premium S&P Global 6%
Machinery Unlevered Beta Simply Wall St/ S&P Global 1.08
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.078 (1 + (1- 18%) (9.87%))
1.111
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.11
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.28% + (1.111 * 5.96%)
9.9%

Discounted Cash Flow Calculation for SWX:MIKN using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Mikron Holding is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

SWX:MIKN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CHF, Millions) Source Present Value
Discounted (@ 9.9%)
2020 5.12 Analyst x2 4.66
2021 7.91 Analyst x2 6.55
2022 10.17 Est @ 28.59% 7.66
2023 12.30 Est @ 21% 8.44
2024 14.23 Est @ 15.68% 8.88
2025 15.94 Est @ 11.96% 9.05
2026 17.43 Est @ 9.35% 9.00
2027 18.74 Est @ 7.53% 8.81
2028 19.91 Est @ 6.25% 8.52
2029 20.98 Est @ 5.36% 8.16
Present value of next 10 years cash flows CHF79.00
SWX:MIKN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CHF20.98 × (1 + 3.28%) ÷ (9.9% – 3.28%)
CHF327.20
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CHF327.20 ÷ (1 + 9.9%)10
CHF127.35
SWX:MIKN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CHF79.00 + CHF127.35
CHF206.35
Equity Value per Share
(CHF)
= Total value / Shares Outstanding
= CHF206.35 / 16.28
CHF12.67
SWX:MIKN Discount to Share Price
Calculation Result
Value per share (CHF) From above. CHF12.67
Current discount Discount to share price of CHF6.84
= -1 x (CHF6.84 - CHF12.67) / CHF12.67
46%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Mikron Holding is available for.
Intrinsic value
46%
Share price is CHF6.84 vs Future cash flow value of CHF12.67
Current Discount Checks
For Mikron Holding to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Mikron Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Mikron Holding's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Mikron Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Mikron Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SWX:MIKN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in CHF CHF0.80
SWX:MIKN Share Price ** SWX (2019-11-15) in CHF CHF6.84
Switzerland Machinery Industry PE Ratio Median Figure of 25 Publicly-Listed Machinery Companies 23.34x
Switzerland Market PE Ratio Median Figure of 171 Publicly-Listed Companies 19.23x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Mikron Holding.

SWX:MIKN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SWX:MIKN Share Price ÷ EPS (both in CHF)

= 6.84 ÷ 0.80

8.56x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mikron Holding is good value based on earnings compared to the CH Machinery industry average.
  • Mikron Holding is good value based on earnings compared to the Switzerland market.
Price based on expected Growth
Does Mikron Holding's expected growth come at a high price?
Raw Data
SWX:MIKN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.56x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
5.8%per year
Switzerland Machinery Industry PEG Ratio Median Figure of 23 Publicly-Listed Machinery Companies 1.18x
Switzerland Market PEG Ratio Median Figure of 124 Publicly-Listed Companies 2.17x

*Line of best fit is calculated by linear regression .

SWX:MIKN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.56x ÷ 5.8%

1.48x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mikron Holding is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Mikron Holding's assets?
Raw Data
SWX:MIKN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in CHF CHF10.19
SWX:MIKN Share Price * SWX (2019-11-15) in CHF CHF6.84
Switzerland Machinery Industry PB Ratio Median Figure of 25 Publicly-Listed Machinery Companies 2.3x
Switzerland Market PB Ratio Median Figure of 214 Publicly-Listed Companies 1.66x
SWX:MIKN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SWX:MIKN Share Price ÷ Book Value per Share (both in CHF)

= 6.84 ÷ 10.19

0.67x

* Primary Listing of Mikron Holding.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mikron Holding is good value based on assets compared to the CH Machinery industry average.
X
Value checks
We assess Mikron Holding's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Machinery industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Machinery industry average (and greater than 0)? (1 check)
  5. Mikron Holding has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Mikron Holding expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Mikron Holding expected to grow at an attractive rate?
  • Mikron Holding's earnings growth is expected to exceed the low risk savings rate of 3.3%.
Growth vs Market Checks
  • Mikron Holding's earnings growth is positive but not above the Switzerland market average.
  • Mikron Holding's revenue growth is positive but not above the Switzerland market average.
Annual Growth Rates Comparison
Raw Data
SWX:MIKN Future Growth Rates Data Sources
Data Point Source Value (per year)
SWX:MIKN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 5.8%
SWX:MIKN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 2.9%
Switzerland Machinery Industry Earnings Growth Rate Market Cap Weighted Average 14.5%
Switzerland Machinery Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
Switzerland Market Earnings Growth Rate Market Cap Weighted Average 9.9%
Switzerland Market Revenue Growth Rate Market Cap Weighted Average 3.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SWX:MIKN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SWX:MIKN Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 373 1
2022-12-31 362 1
2021-12-31 351 23 15 1
2020-12-31 314 22 10 2
2019-12-31 331 11 11 2
2019-11-18
SWX:MIKN Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2019-06-30 337 3 13
2019-03-31 326 11 13
2018-12-31 316 20 12
2018-09-30 301 26 9
2018-06-30 287 32 7
2018-03-31 268 24 4
2017-12-31 249 16 1
2017-09-30 249 5 1
2017-06-30 248 -7 0
2017-03-31 252 3 1
2016-12-31 256 13 2
2016-09-30 252 20 4

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Mikron Holding's earnings are expected to grow by 5.8% yearly, however this is not considered high growth (20% yearly).
  • Mikron Holding's revenue is expected to grow by 2.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SWX:MIKN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Mikron Holding Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:MIKN Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.95 0.95 0.95 1.00
2020-12-31 0.63 0.64 0.62 2.00
2019-12-31 0.69 0.74 0.63 2.00
2019-11-18
SWX:MIKN Past Financials Data
Date (Data in CHF Millions) EPS *
2019-06-30 0.80
2019-03-31 0.77
2018-12-31 0.74
2018-09-30 0.57
2018-06-30 0.40
2018-03-31 0.24
2017-12-31 0.07
2017-09-30 0.04
2017-06-30 0.02
2017-03-31 0.08
2016-12-31 0.14
2016-09-30 0.22

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Mikron Holding is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Mikron Holding's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Switzerland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Switzerland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Mikron Holding has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Mikron Holding performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Mikron Holding's growth in the last year to its industry (Machinery).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Mikron Holding has delivered over 20% year on year earnings growth in the past 5 years.
  • Mikron Holding's 1-year earnings growth exceeds its 5-year average (98% vs 51.8%)
  • Mikron Holding's earnings growth has exceeded the CH Machinery industry average in the past year (98% vs 2.7%).
Earnings and Revenue History
Mikron Holding's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Mikron Holding Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:MIKN Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 337.04 13.16 134.50
2019-03-31 326.37 12.70 131.38
2018-12-31 315.71 12.24 128.27
2018-09-30 301.26 9.45 124.89
2018-06-30 286.80 6.65 121.50
2018-03-31 268.13 3.90 118.20
2017-12-31 249.46 1.16 114.91
2017-09-30 248.55 0.71 113.36
2017-06-30 247.64 0.27 111.81
2017-03-31 251.82 1.30 112.71
2016-12-31 255.99 2.34 113.61
2016-09-30 251.89 3.76 112.49
2016-06-30 247.79 5.19 111.38
2016-03-31 238.24 3.06 109.06
2015-12-31 228.69 0.92 106.74
2015-09-30 233.26 -1.06 106.33
2015-06-30 237.82 -3.04 105.92
2015-03-31 243.97 -0.41 105.88
2014-12-31 250.12 2.23 105.84
2014-09-30 246.18 2.21 105.17
2014-06-30 242.25 2.19 104.50
2014-03-31 241.98 2.29 103.67
2013-12-31 241.71 2.39 102.83
2013-09-30 244.51 5.93 102.46
2013-06-30 247.31 9.47 102.08
2013-03-31 241.41 8.97 100.43
2012-12-31 235.51 8.47 98.77

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Mikron Holding has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Mikron Holding used its assets less efficiently than the CH Machinery industry average last year based on Return on Assets.
  • Mikron Holding has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Mikron Holding's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Machinery industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Mikron Holding has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Mikron Holding's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Mikron Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Mikron Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Mikron Holding's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Mikron Holding's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 30.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Mikron Holding Company Filings, last reported 4 months ago.

SWX:MIKN Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 165.68 10.99 21.51
2019-03-31 165.68 10.99 21.51
2018-12-31 164.31 5.26 44.41
2018-09-30 164.31 5.26 44.41
2018-06-30 160.44 24.28 55.44
2018-03-31 160.44 24.28 55.44
2017-12-31 157.35 19.47 57.56
2017-09-30 157.35 19.47 57.56
2017-06-30 153.13 22.96 36.48
2017-03-31 153.13 22.96 36.48
2016-12-31 156.35 19.49 52.25
2016-09-30 156.35 19.49 52.25
2016-06-30 154.08 22.86 53.12
2016-03-31 154.08 22.86 53.12
2015-12-31 154.57 19.72 48.84
2015-09-30 154.57 19.72 48.84
2015-06-30 149.11 15.52 32.96
2015-03-31 149.11 15.52 32.96
2014-12-31 155.30 13.87 42.21
2014-09-30 155.30 13.87 42.21
2014-06-30 153.30 13.90 43.12
2014-03-31 153.30 13.90 43.12
2013-12-31 153.45 13.92 46.21
2013-09-30 153.45 13.92 46.21
2013-06-30 152.24 13.97 43.07
2013-03-31 152.24 13.97 43.07
2012-12-31 153.02 13.97 44.32
  • Mikron Holding's level of debt (3.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (8.7% vs 3.4% today).
  • Debt is well covered by operating cash flow (49.6%, greater than 20% of total debt).
  • Mikron Holding earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Mikron Holding's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Mikron Holding has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Mikron Holding's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.92%
Current annual income from Mikron Holding dividends. Estimated to be 3.29% next year.
If you bought CHF2,000 of Mikron Holding shares you are expected to receive CHF58 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Mikron Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Switzerland (1.85%).
  • Mikron Holding's dividend is below the markets top 25% of dividend payers in Switzerland (3.6%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SWX:MIKN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Switzerland Machinery Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 2.2%
Switzerland Market Average Dividend Yield Market Cap Weighted Average of 163 Stocks 2.9%
Switzerland Minimum Threshold Dividend Yield 10th Percentile 1.2%
Switzerland Bottom 25% Dividend Yield 25th Percentile 1.8%
Switzerland Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SWX:MIKN Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.25 2.00
2020-12-31 0.23 2.00
2019-12-31 0.20 2.00
2019-11-18
SWX:MIKN Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2019-03-20 0.200 2.605
2018-03-12 0.050 0.608
2017-03-17 0.050 0.746
2016-03-08 0.050 0.810
2015-03-10 0.050 0.849
2014-04-08 0.100 1.368
2013-03-19 0.150 2.578
2013-03-18 0.150 2.595
2012-03-13 0.120 2.201
2012-03-12 0.120 1.799

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mikron Holding has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Mikron Holding only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Mikron Holding's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.3x coverage).
X
Income/ dividend checks
We assess Mikron Holding's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Mikron Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Mikron Holding has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Mikron Holding's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bruno Cathomen
COMPENSATION CHF687,000
AGE 52
TENURE AS CEO 8.1 years
CEO Bio

Mr. Bruno Cathomen, Dipl. Ing. ETH, has been the Chief Executive Officer of Mikron Holding AG since October 1, 2011 and as its Head of Mikron Machining Solutions since October 2009. Mr. Cathomen served as Vice President of Communications Network Equipment at Elcoteq SE, where he had held various positions since 2001. Prior to that, he held a number of posts at the ABB technology group. He is an ETH graduate in Management, Technology and Economics.

CEO Compensation
  • Bruno's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Bruno's remuneration is about average for companies of similar size in Switzerland.
Management Team Tenure

Average tenure and age of the Mikron Holding management team in years:

8.1
Average Tenure
52
Average Age
  • The average tenure for the Mikron Holding management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Bruno Cathomen

TITLE
Group CEO & Head of Mikron Machining Solutions
COMPENSATION
CHF687K
AGE
52
TENURE
8.1 yrs

Javier Perez-Freije

TITLE
Chief Financial Officer
AGE
44
TENURE
1.3 yrs

Florencia Saldías

TITLE
Head of Finance

Rolf Rihs

TITLE
Head of Mikron Automation
AGE
56
TENURE
17.8 yrs

Jean-François Bauer

TITLE
Head of Marketing & Business Development - Mikron Automation
Board of Directors Tenure

Average tenure and age of the Mikron Holding board of directors in years:

7.7
Average Tenure
61.5
Average Age
  • The tenure for the Mikron Holding board of directors is about average.
Board of Directors

Heinrich Spoerry

TITLE
Non-Executive Chairman
COMPENSATION
CHF91K
AGE
68
TENURE
9.1 yrs

Eduard Rikli

TITLE
Non-Executive Vice-Chairman
COMPENSATION
CHF73K
AGE
68
TENURE
9.1 yrs

Patrick Kilchmann

TITLE
Non-Executive Director
COMPENSATION
CHF60K
AGE
61
TENURE
8.8 yrs

Andreas Casutt

TITLE
Non-Executive Director
COMPENSATION
CHF69K
AGE
56
TENURE
6.6 yrs

Hans-Michael Hauser

TITLE
Non-Executive Director
COMPENSATION
CHF78K
AGE
49
TENURE
3.8 yrs

Paul Zumbühl

TITLE
Non-Executive Director
COMPENSATION
CHF69K
AGE
62
TENURE
1.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CHF) Value (CHF)
X
Management checks
We assess Mikron Holding's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Mikron Holding has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Investors Who Bought Mikron Holding (VTX:MIKN) Shares A Year Ago Are Now Down 18%

Investors in Mikron Holding AG (VTX:MIKN) have tasted that bitter downside in the last year, as the share price dropped 18%. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … Since we can't easily explain the share price movement based on these metrics, it might be worth considering how market sentiment has changed towards the stock.

Simply Wall St -

Examining Mikron Holding AG’s (VTX:MIKN) Weak Return On Capital Employed

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … What is Return On Capital Employed (ROCE)? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

Is Mikron Holding AG's (VTX:MIKN) CEO Paid At A Competitive Rate?

Bruno Cathomen became the CEO of Mikron Holding AG (VTX:MIKN) in 2011. … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Bruno Cathomen's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Mikron Holding AG (VTX:MIKN): Time For A Financial Health Check

While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Evaluating financial health as part of your investment thesis is. … Here are few basic financial health checks you should consider before taking the plunge.

Simply Wall St -

Mikron Holding AG (VTX:MIKN): The Best Of Both Worlds

Today I've chosen to put the spotlight on Mikron Holding AG (VTX:MIKN) due to its excellent fundamentals in more than one area. … report on Mikron Holding here … Excellent balance sheet and good value

Simply Wall St -

Do Institutions Own Mikron Holding AG (VTX:MIKN) Shares?

The big shareholder groups in Mikron Holding AG (VTX:MIKN) have power over the company. … With a market capitalization of CHF142m, Mikron Holding is a small cap stock, so it might not be well known by many institutional investors. … View our latest analysis for Mikron Holding

Simply Wall St -

Does Mikron Holding AG's (VTX:MIKN) CEO Pay Matter?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Bruno Cathomen's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Mikron Holding AG has a market cap of CHF149m, and is paying total annual CEO compensation of CHF674k.

Simply Wall St -

Mikron Holding AG (VTX:MIKN): Time For A Financial Health Check

While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Evaluating financial health as part of your investment thesis is. … Here are few basic financial health checks you should consider before taking the plunge.

Simply Wall St -

How Mikron Holding AG's (VTX:MIKN) Earnings Growth Stacks Up Against The Industry

Assessing Mikron Holding AG's (VTX:MIKN) past track record of performance is an insightful exercise for investors. … Today I will assess MIKN's recent performance announced on 31 December 2017 and evaluate these figures to its long-term trend and industry movements. … How Did MIKN's Recent Performance Stack Up Against Its Past.

Simply Wall St -

Should You Be Concerned About Mikron Holding AG's (VTX:MIKN) Investors?

I am going to take a deep dive into Mikron Holding AG’s (VTX:MIKN) most recent ownership structure, not a frequent subject of discussion among individual investors. … When it comes to ownership structure of a company, the impact has been observed in both the long-and short-term performance of shares. … The implications of these institutions’ actions can either benefit or hinder individual investors, so it is important to understand the ownership composition of your stock investment.

Simply Wall St -

Company Info

Description

Mikron Holding AG, together with its subsidiaries, develops, produces, and markets automation and machining systems for precise and productive manufacturing processes worldwide. The company operates in two segments, Mikron Automation and Mikron Machining. The Mikron Automation segment manufactures customized automation solutions for the assembly and testing of products. Its solutions include automation assembly and testing systems; and feeding systems, as well as spare parts, technical support, improvement, and partner support services. The Mikron Machining segment supplies machining systems for the manufacture of high-precision components made of metal, such as turbocharger housings, injection nozzles, and ballpoint pen tips. It offers productive systems, machining centers, respeed systems, and pre-machining equipment; and support services. This segment also develops and produces high-precision cutting tools for the high-end market. The company serves the automotive, electronics and telecommunications, medtech, consumer goods, construction/building, pneumatics and hydraulics, pharmaceutical, electrical, writing instruments, and watchmaking industries. Mikron Holding AG was founded in 1908 and is based in Biel, Switzerland.

Details
Name: Mikron Holding AG
MIKN
Exchange: SWX
Founded: 1908
CHF111,371,096
16,282,324
Website: http://www.mikron.com
Address: Mikron Holding AG
Mühlebrücke 2,
Biel,
Bern, 2502,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX MIKN Registered Shares SIX Swiss Exchange CH CHF 02. Jan 1992
DB MH4N Registered Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0QQF Registered Shares London Stock Exchange GB CHF 02. Jan 1992
Number of employees
Current staff
Staff numbers
1,465
Mikron Holding employees.
Industry
Industrial Machinery
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/18 20:48
End of day share price update: 2019/11/15 00:00
Last estimates confirmation: 2019/10/25
Last earnings filing: 2019/07/25
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.