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MCH Group

SWX:MCHN
Snowflake Description

Reasonable growth potential and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MCHN
SWX
CHF169M
Market Cap
  1. Home
  2. CH
  3. Media
Company description

MCH Group AG, through its subsidiaries, operates as a live marketing company that provides a network of services in the exhibition and event market worldwide. The last earnings update was 73 days ago. More info.


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MCHN Share Price and Events
7 Day Returns
1.8%
SWX:MCHN
-1.4%
Europe Media
-0.3%
CH Market
1 Year Returns
10.6%
SWX:MCHN
-2.8%
Europe Media
13.4%
CH Market
MCHN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
MCH Group (MCHN) 1.8% 22.6% 25.9% 10.6% -58.7% -55.6%
Europe Media -1.4% 0.9% 2.2% -2.8% -12.5% -15.2%
CH Market -0.3% 2% 5.7% 13.4% 21% 14%
1 Year Return vs Industry and Market
  • MCHN outperformed the Media industry which returned -2.8% over the past year.
  • MCHN underperformed the Market in Switzerland which returned 13.4% over the past year.
Price Volatility
MCHN
Industry
5yr Volatility vs Market

Value

 Is MCH Group 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 MCH Group 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 MCH Group.

SWX:MCHN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 12.6%
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:MCHN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CH Govt Bond Rate 3.3%
Equity Risk Premium S&P Global 6%
Media Unlevered Beta Simply Wall St/ S&P Global 0.77
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.77 (1 + (1- 18%) (169.73%))
1.564
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.56
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.28% + (1.564 * 5.96%)
12.6%

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

The calculations below outline how an intrinsic value for MCH Group 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:MCHN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CHF, Millions) Source Present Value
Discounted (@ 12.6%)
2020 0.92 Analyst x1 0.82
2021 9.29 Analyst x1 7.32
2022 17.27 Est @ 85.95% 12.09
2023 27.82 Est @ 61.15% 17.31
2024 40.01 Est @ 43.79% 22.10
2025 52.66 Est @ 31.63% 25.84
2026 64.84 Est @ 23.13% 28.25
2027 75.97 Est @ 17.17% 29.40
2028 85.85 Est @ 13% 29.51
2029 94.51 Est @ 10.08% 28.85
Present value of next 10 years cash flows CHF201.00
SWX:MCHN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CHF94.51 × (1 + 3.28%) ÷ (12.6% – 3.28%)
CHF1,046.77
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CHF1,046.77 ÷ (1 + 12.6%)10
CHF319.52
SWX:MCHN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CHF201.00 + CHF319.52
CHF520.52
Equity Value per Share
(CHF)
= Total value / Shares Outstanding
= CHF520.52 / 6.01
CHF86.66
SWX:MCHN Discount to Share Price
Calculation Result
Value per share (CHF) From above. CHF86.66
Current discount Discount to share price of CHF28.20
= -1 x (CHF28.20 - CHF86.66) / CHF86.66
67.5%

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

Current Discount
Amount off the current price MCH Group is available for.
Intrinsic value
>50%
Share price is CHF28.2 vs Future cash flow value of CHF86.66
Current Discount Checks
For MCH Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • MCH Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • MCH Group'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 MCH Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are MCH Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SWX:MCHN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in CHF CHF-35.96
SWX:MCHN Share Price ** SWX (2019-11-15) in CHF CHF28.2
Europe Media Industry PE Ratio Median Figure of 112 Publicly-Listed Media Companies 17.64x
Switzerland Market PE Ratio Median Figure of 171 Publicly-Listed Companies 19.24x

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

** Primary Listing of MCH Group.

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

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

= 28.2 ÷ -35.96

-0.78x

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

  • MCH Group is loss making, we can't compare its value to the Europe Media industry average.
  • MCH Group is loss making, we can't compare the value of its earnings to the Switzerland market.
Price based on expected Growth
Does MCH Group's expected growth come at a high price?
Raw Data
SWX:MCHN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.78x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
119.6%per year
Europe Media Industry PEG Ratio Median Figure of 64 Publicly-Listed Media Companies 1.8x
Switzerland Market PEG Ratio Median Figure of 124 Publicly-Listed Companies 2.19x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for MCH Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on MCH Group's assets?
Raw Data
SWX:MCHN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in CHF CHF9.50
SWX:MCHN Share Price * SWX (2019-11-15) in CHF CHF28.2
Europe Media Industry PB Ratio Median Figure of 166 Publicly-Listed Media Companies 1.34x
Switzerland Market PB Ratio Median Figure of 214 Publicly-Listed Companies 1.65x
SWX:MCHN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 28.2 ÷ 9.50

2.97x

* Primary Listing of MCH Group.

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

  • MCH Group is overvalued based on assets compared to the Europe Media industry average.
X
Value checks
We assess MCH Group'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 Media 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 Media industry average (and greater than 0)? (1 check)
  5. MCH Group has a total score of 2/6, 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 MCH Group expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
119.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is MCH Group expected to grow at an attractive rate?
  • MCH Group's earnings growth is expected to exceed the low risk savings rate of 3.3%.
Growth vs Market Checks
  • MCH Group's earnings growth is expected to exceed the Switzerland market average.
  • MCH Group's revenue growth is expected to exceed the Switzerland market average.
Annual Growth Rates Comparison
Raw Data
SWX:MCHN Future Growth Rates Data Sources
Data Point Source Value (per year)
SWX:MCHN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 119.6%
SWX:MCHN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 4.4%
Europe Media Industry Earnings Growth Rate Market Cap Weighted Average 10.9%
Europe Media Industry Revenue Growth Rate Market Cap Weighted Average 2.9%
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:MCHN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SWX:MCHN Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 534 1
2022-12-31 518 1
2021-12-31 481 16 11 1
2020-12-31 469 7 0 1
2019-12-31 461 -18 -16 1
2019-11-15
SWX:MCHN Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2019-06-30 432 -29 -213
2019-03-31 474 -19 -202
2018-12-31 516 -10 -190
2018-09-30 527 26 -153
2018-06-30 537 63 -115
2018-03-31 512 65 -112
2017-12-31 486 68 -110
2017-09-30 443 69 -53
2017-06-30 400 71 5
2017-03-31 416 54 20
2016-12-31 432 38 34
2016-09-30 435 49 36

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • MCH Group's earnings are expected to grow significantly at over 20% yearly.
  • MCH Group's revenue is expected to grow by 4.4% 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:MCHN 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 1 Analyst Estimates (S&P Global) See Below

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

SWX:MCHN 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 1.80 1.80 1.80 1.00
2020-12-31 0.01 0.01 0.01 1.00
2019-12-31 -2.62 -2.62 -2.62 1.00
2019-11-15
SWX:MCHN Past Financials Data
Date (Data in CHF Millions) EPS *
2019-06-30 -35.96
2019-03-31 -33.82
2018-12-31 -31.70
2018-09-30 -25.41
2018-06-30 -19.10
2018-03-31 -18.70
2017-12-31 -18.30
2017-09-30 -8.75
2017-06-30 0.78
2017-03-31 3.25
2016-12-31 5.71
2016-09-30 6.05

*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.
  • MCH Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess MCH Group'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
MCH Group has a total score of 4/6, 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 MCH Group 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 MCH Group's growth in the last year to its industry (Media).
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.
  • MCH Group does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare MCH Group's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare MCH Group's 1-year growth to the Europe Media industry average as it is not currently profitable.
Earnings and Revenue History
MCH Group'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 MCH Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:MCHN Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 431.70 -213.04 228.26
2019-03-31 473.95 -201.74 228.26
2018-12-31 516.20 -190.44 228.26
2018-09-30 526.64 -152.52 210.60
2018-06-30 537.09 -114.60 192.95
2018-03-31 511.59 -112.30 192.95
2017-12-31 486.09 -110.00 192.95
2017-09-30 442.90 -52.64 173.79
2017-06-30 399.71 4.73 154.64
2017-03-31 415.61 19.53 154.64
2016-12-31 431.51 34.33 154.64
2016-09-30 434.69 36.36 150.83
2016-06-30 437.87 38.39 147.02
2016-03-31 423.42 34.69 147.02
2015-12-31 408.97 30.99 147.02
2015-09-30 416.74 27.89 150.26
2015-06-30 424.51 24.79 153.51
2015-03-31 438.16 28.79 153.51
2014-12-31 451.81 32.79 153.51
2014-09-30 455.80 41.18 152.08
2014-06-30 459.79 49.57 150.66
2014-03-31 464.34 40.02 150.66
2013-12-31 468.89 30.47 150.66
2013-09-30 461.84 27.99 148.60
2013-06-30 454.79 25.51 146.53
2013-03-31 415.44 26.46 146.53
2012-12-31 376.09 27.41 146.53

*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.
  • It is difficult to establish if MCH Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if MCH Group has efficiently used its assets last year compared to the Europe Media industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if MCH Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess MCH Group'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 Media 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.
MCH Group has a total score of 0/6, 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 MCH Group'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 MCH Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • MCH Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • MCH Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of MCH Group'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 not covered by short term assets, assets are 0.8x 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 MCH Group Company Filings, last reported 4 months ago.

SWX:MCHN Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 56.40 287.50 115.50
2019-03-31 56.40 287.50 115.50
2018-12-31 56.88 278.22 129.50
2018-09-30 56.88 278.22 129.50
2018-06-30 256.10 372.70 212.80
2018-03-31 256.10 372.70 212.80
2017-12-31 233.70 246.55 115.89
2017-09-30 233.70 246.55 115.89
2017-06-30 376.20 261.70 69.40
2017-03-31 376.20 261.70 69.40
2016-12-31 438.98 299.87 230.81
2016-09-30 438.98 299.87 230.81
2016-06-30 460.60 299.80 177.20
2016-03-31 460.60 299.80 177.20
2015-12-31 407.89 302.93 211.06
2015-09-30 407.89 302.93 211.06
2015-06-30 424.90 313.10 135.90
2015-03-31 424.90 313.10 135.90
2014-12-31 381.33 308.57 153.31
2014-09-30 381.33 308.57 153.31
2014-06-30 410.80 321.10
2014-03-31 410.80 321.10
2013-12-31 356.30 369.39 147.05
2013-09-30 356.30 369.39 147.05
2013-06-30 364.40 376.50
2013-03-31 364.40 376.50
2012-12-31 329.28 354.36 130.00
  • MCH Group's level of debt (509.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (78.2% vs 509.8% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • MCH Group has sufficient cash runway for 2.6 years based on current free cash flow.
  • Unable to confirm if MCH Group has at least 1 year of cash runway based on growing free cash flows without relevant data.
X
Financial health checks
We assess MCH Group'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. MCH Group has a total score of 2/6, 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 MCH Group'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
0%
Current annual income from MCH Group dividends. Estimated to be 0.59% next year.
If you bought CHF2,000 of MCH Group shares you are expected to receive CHF0 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?
  • Unable to evaluate MCH Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate MCH Group's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:MCHN 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 1 Analyst Estimates (S&P Global) See Below
Europe Media Industry Average Dividend Yield Market Cap Weighted Average of 88 Stocks 4.5%
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:MCHN Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.50 1.00
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00
2019-11-15
SWX:MCHN Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2018-09-04 0.000 0.000
2018-03-20 0.000 0.000
2017-04-05 0.500 0.730
2017-01-16 0.500 0.692
2016-03-17 0.500 0.748
2015-04-01 0.500 0.824
2014-03-21 0.500 0.791
2013-04-30 0.500 0.847
2012-03-16 0.500 1.024
2011-04-18 0.500 1.210
2010-03-12 0.500 1.105
2009-01-06 0.500 1.450

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

  • Unable to perform a dividend volatility check as MCH Group has not reported any payouts.
  • Unable to verify if MCH Group's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of MCH Group's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as MCH Group has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of MCH Group's dividends in 3 years as they are not expected to pay a notable one for Switzerland.
X
Income/ dividend checks
We assess MCH Group'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 MCH Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. MCH Group has a total score of 0/6, 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 MCH Group'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
Hans-Kristian Hoejsgaard
AGE 61
TENURE AS CEO 1.2 years
CEO Bio

Mr. Hans-Kristian Hoejsgaard has been Group Chief Executive Officer of MCH Group AG and served as its Interim CEO in September 4, 2018. Mr. Hoejsgaard served as Chief Executive Officer and President of Oettinger Davidoff AG since June 1, 2011 until August 28, 2017 and served as its Director from 2014 to August 28, 2017. Mr. Hoejsgaard joined the Oettinger Davidoff Group on March 1, 2011. He served as the Chief Executive Officer and President of Timex Corporation since February 11, 2008. Mr. Hoejsgaard served as the Chief Executive Officer and President of Timex Group USA, Inc. He served as Chief Executive Officer and President of Timex Group B.V from February 11, 2008 to March 1, 2011. Prior to joining Timex Group in February 2008, he served as the Chief Executive Officer and President of Georg Jensen. He has extensive international management experience. He served as the President of Paris based Lancaster Group Worldwide, a division of Coty Inc., a major international perfume and cosmetics company, until 2002. He held senior management positions at Joseph E. Seagram & Sons in Rome, Hong Kong and Bangkok. Until 1993, he worked for Seagram, one of the world's largest spirits companies, in Italy, Hong Kong and finally as General Manager in Thailand. He served as Chief Executive Officer and Managing Director of the Asia, Pacific region at Guerlain, the French luxury perfume and cosmetics company until 1998. Mr. Hoejsgaard served as the Chairman of Timex Group India Ltd. since May 2008 and has been its Director since May 2008. He has been a Non-Executive Director of Calida Holding AG since May 13, 2014. He serves as a Director of Timex Group B.V. He worked for the family firm for several years from 1980 after earning an HD Diploma in business and administration and studying political science at the University of Copenhagen. Mr. Hoejsgaard holds B.A. in Economics and Strategic Planning from Southern Denmark Business School and has undertaken executive education at Harvard Business School, INSEAD and Wharton.

CEO Compensation
  • Insufficient data for Hans-Kristian to compare compensation growth.
  • Insufficient data for Hans-Kristian to establish whether their remuneration is reasonable compared to companies of similar size in Switzerland.
Management Team Tenure

Average tenure and age of the MCH Group management team in years:

1.2
Average Tenure
59.5
Average Age
  • The average tenure for the MCH Group management team is less than 2 years, this suggests a new team.
Management Team

Hans-Kristian Hoejsgaard

TITLE
Group Chief Executive Officer
AGE
61
TENURE
1.2 yrs

Beat Zwahlen

TITLE
Chief Financial Officer & Member of the Executive Board
AGE
59
TENURE
1.5 yrs

Peter Holenstein

TITLE
CEO of Events Switzerland & Venues and Member of the Executive Board
AGE
60
TENURE
21.8 yrs

Florian Faber

TITLE
CEO of Live Marketing Solutions & Member of Executive Board
AGE
40
TENURE
0.8 yrs

Philipp Cox

TITLE
Group Legal Department
TENURE
0.7 yrs

Christian Jecker

TITLE
Head of Corporate Communications

Andreas Gnepf

TITLE
Corporate HR
Board of Directors Tenure

Average tenure and age of the MCH Group board of directors in years:

4.8
Average Tenure
59.5
Average Age
  • The tenure for the MCH Group board of directors is about average.
Board of Directors

Ueli Vischer

TITLE
Chairman of the Board of Directors
COMPENSATION
CHF107K
AGE
68

Christoph Brutschin

TITLE
Vice Chairman
COMPENSATION
CHF50K
AGE
61
TENURE
3.4 yrs

Marco Gadola

TITLE
Director
COMPENSATION
CHF38K
AGE
56
TENURE
3.6 yrs

Karin Lenzlinger Diedenhofen

TITLE
Director
COMPENSATION
CHF36K
AGE
60
TENURE
15.5 yrs

Eva Herzog

TITLE
Director
COMPENSATION
CHF28K
AGE
58
TENURE
14.6 yrs

Werner Helfenstein

TITLE
Director
COMPENSATION
CHF28K
AGE
72
TENURE
13.5 yrs

Jean-Philippe Rochat

TITLE
Director
COMPENSATION
CHF34K
AGE
62
TENURE
2.6 yrs

Thomas Weber

TITLE
Director
COMPENSATION
CHF30K
AGE
58
TENURE
6.3 yrs

André Odermatt

TITLE
Director
COMPENSATION
CHF29K
AGE
59
TENURE
4.8 yrs

Andreas Widmer

TITLE
Director
COMPENSATION
CHF29K
AGE
51
TENURE
3.6 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 MCH Group'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. MCH Group 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

Did Changing Sentiment Drive MCH Group's (VTX:MCHN) Share Price Down A Worrying 67%?

It is doubtless a positive to see that the MCH Group AG (VTX:MCHN) share price has gained some 41% in the last three months. … View our latest analysis for MCH Group MCH Group isn't a profitable company, so it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). … To be frank we're surprised to see revenue growth and share price growth diverge so strongly.

Simply Wall St -

Is MCH Group (VTX:MCHN) Using Too Much Debt?

SWX:MCHN Historical Debt, July 11th 2019 How Strong Is MCH Group's Balance Sheet? … Since MCH Group does have net debt, we think it is worthwhile for shareholders to keep an eye on the balance sheet, over time. … If you're interested in investing in businesses that can grow profits without the burden of debt, then check out this free list of growing businesses that have net cash on the balance sheet.

Simply Wall St -

The MCH Group (VTX:MCHN) Share Price Is Down 74% So Some Shareholders Are Rather Upset

So take a moment to sympathize with the long term shareholders of MCH Group AG (VTX:MCHN), who have seen the share price tank a massive 74% over a three year period. … In the last three years, MCH Group saw its revenue grow by 9.2% per year, compound. … A Different Perspective MCH Group shareholders are down 65% for the year, but the market itself is up 9.1%.

Simply Wall St -

What Kind Of Shareholders Own MCH Group AG (VTX:MCHN)?

Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Companies that have been privatized tend to have low insider ownership. … With a market capitalization of CHF120m, MCH Group is a small cap stock, so it might not be well known by many institutional investors.

Simply Wall St -

What does MCH Group AG's (VTX:MCHN) Balance Sheet Tell Us About Its Future?

Investors are always looking for growth in small-cap stocks like MCH Group AG (VTX:MCHN), with a market cap of CHF116m. … However, an important fact which most ignore is: how financially healthy is the business? … the current state of its operations and pathway to profitability.

Simply Wall St -

How Many MCH Group AG (VTX:MCHN) Shares Do Institutions Own?

MCH Group is a smaller company with a market capitalization of CHF147m, so it may still be flying under the radar of many institutional investors. … Our analysis of the ownership of the company, below, shows that. … institutional investors have bought into the company.

Simply Wall St -

What You Must Know About MCH Group AG's (VTX:MCHN) Major Investors

In this article, I'm going to take a look at MCH Group AG’s (VTX:MCHN) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … The impact of a company's ownership structure affects both its short- and long-term performance. … SWX:MCHN Ownership Summary August 17th 18

Simply Wall St -

Is MCH Group AG's (VTX:MCHN) Balance Sheet A Threat To Its Future?

While small-cap stocks, such as MCH Group AG (VTX:MCHN) with its market cap of CHF307.54m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

Should You Care About MCH Group AG’s (VTX:MCHN) Cash Levels?

Free cash flow (FCF) is the amount of cash MCH Group has left after it pays off its expenses, including its net capital expenditures, which is what the company needs to spend each year to maintain or grow its business operations. … Free Cash Flow = Operating Cash Flows – Net Capital Expenditure Free Cash Flow Yield = Free Cash Flow / Enterprise Value where Enterprise Value = Market Capitalisation + Net Debt MCH Group’s yield of 9.19% last year indicates its ability to produce cash at the same rate as the market index, taking into account the company’s size. … Current +1 year +2 year +3 year Operating Cash Flow (OCF) CHF67.86M CHF69.63M CHF70.61M CHF75.32M OCF Growth Year-On-Year 2.61% 1.40% 6.68% OCF Growth From Current Year 4.05% 11.00% Next Steps: MCH Group is compensating investors at a cash yield similar to the wider market portfolio.

Simply Wall St -

Should You Have MCH Group AG's (VTX:MCHN) In Your Portfolio?

A widely-used metric to measure a stock's market risk is beta, and the broad market index represents a beta value of one. … Based on this beta value, MCHN appears to be a stock that an investor with a high-beta portfolio would look for to reduce risk exposure to the market. … MCHN, with its market capitalisation of CHF302.73M, is a small-cap stock, which generally have higher beta than similar companies of larger size.

Simply Wall St -

Company Info

Description

MCH Group AG, through its subsidiaries, operates as a live marketing company that provides a network of services in the exhibition and event market worldwide. The company organizes exhibitions, congresses, concerts, and various corporate and public events. It organizes approximately 90 company owned and guest exhibitions in Switzerland and internationally. The company also offers event infrastructures for exhibitions, congresses, and corporate and public events in Basel, Lausanne, and Zurich. In addition, it provides customized marketing solutions in the areas of strategic and conceptional consulting, marketing consulting, event management, exhibition and event structures, and multimedia. MCH Group AG was founded in 1916 and is headquartered in Basel, Switzerland.

Details
Name: MCH Group AG
MCHN
Exchange: SWX
Founded: 1916
CHF169,385,415
6,006,575
Website: http://www.mch-group.com
Address: MCH Group AG
Messeplatz 10,
Basel,
Basel-Stadt, 4005,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX MCHN Registered Shares SIX Swiss Exchange CH CHF 09. Jul 2001
DB MEF1 Registered Shares Deutsche Boerse AG DE EUR 09. Jul 2001
LSE 0QPF Registered Shares London Stock Exchange GB CHF 09. Jul 2001
Number of employees
Current staff
Staff numbers
968
MCH Group employees.
Industry
Advertising
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/15 20:43
End of day share price update: 2019/11/15 00:00
Last estimates confirmation: 2019/09/23
Last earnings filing: 2019/09/03
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.