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Mynaric

DB:M0Y
Snowflake Description

Flawless balance sheet with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
M0Y
DB
€101M
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

Mynaric AG provides laser communication solutions for high data rate and long-distance wireless data transmission between moving objects in Germany. The last earnings update was 143 days ago. More info.


Add to Portfolio Compare Print
  • Mynaric has significant price volatility in the past 3 months.
M0Y Share Price and Events
7 Day Returns
-2.9%
DB:M0Y
0.8%
Europe Aerospace & Defense
2.5%
DE Market
1 Year Returns
-30.7%
DB:M0Y
11.7%
Europe Aerospace & Defense
2.6%
DE Market
M0Y Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Mynaric (M0Y) -2.9% -8.3% -8.6% -30.7% - -
Europe Aerospace & Defense 0.8% -2.9% 0.9% 11.7% 67.1% 114.9%
DE Market 2.5% 0.2% 1% 2.6% 7.8% 23.7%
1 Year Return vs Industry and Market
  • M0Y underperformed the Aerospace & Defense industry which returned 11.7% over the past year.
  • M0Y underperformed the Market in Germany which returned 2.6% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

M0Y Value

 Is Mynaric 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 Mynaric 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 Mynaric.

DB:M0Y 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 5.6%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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 DB:M0Y
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Aerospace & Defense Unlevered Beta Simply Wall St/ S&P Global 0.86
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.864 (1 + (1- 30%) (0%))
0.909
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.91
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.909 * 5.96%)
5.64%

Discounted Cash Flow Calculation for DB:M0Y using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Mynaric 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.

DB:M0Y DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 5.64%)
2020 -11.86 Analyst x2 -11.23
2021 -15.13 Analyst x2 -13.55
2022 -7.21 Analyst x2 -6.11
2023 30.44 Analyst x2 24.44
2024 48.25 Est @ 58.52% 36.67
2025 68.05 Est @ 41.03% 48.95
2026 87.64 Est @ 28.79% 59.67
2027 105.36 Est @ 20.22% 67.91
2028 120.35 Est @ 14.22% 73.42
2029 132.41 Est @ 10.02% 76.46
Present value of next 10 years cash flows €356.00
DB:M0Y DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €132.41 × (1 + 0.23%) ÷ (5.64% – 0.23%)
€2,450.18
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €2,450.18 ÷ (1 + 5.64%)10
€1,414.91
DB:M0Y Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €356.00 + €1,414.91
€1,770.91
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,770.91 / 2.70
€654.85
DB:M0Y Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:M0Y represents 0.97319x of XTRA:M0Y
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.97319x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 654.85 x 0.97319
€637.29
Value per share (EUR) From above. €637.29
Current discount Discount to share price of €36.30
= -1 x (€36.30 - €637.29) / €637.29
94.3%

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

Current Discount
Amount off the current price Mynaric is available for.
Intrinsic value
>50%
Share price is €36.3 vs Future cash flow value of €637.29
Current Discount Checks
For Mynaric to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Mynaric's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Mynaric'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 Mynaric's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Mynaric's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:M0Y PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €-2.46
XTRA:M0Y Share Price ** XTRA (2019-10-11) in EUR €37.3
Europe Aerospace & Defense Industry PE Ratio Median Figure of 36 Publicly-Listed Aerospace & Defense Companies 21.4x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

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

** Primary Listing of Mynaric.

DB:M0Y PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= XTRA:M0Y Share Price ÷ EPS (both in EUR)

= 37.3 ÷ -2.46

-15.15x

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

  • Mynaric is loss making, we can't compare its value to the Europe Aerospace & Defense industry average.
  • Mynaric is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Mynaric's expected growth come at a high price?
Raw Data
DB:M0Y PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -15.15x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
94.6%per year
Europe Aerospace & Defense Industry PEG Ratio Median Figure of 26 Publicly-Listed Aerospace & Defense Companies 1.59x
Germany Market PEG Ratio Median Figure of 264 Publicly-Listed Companies 1.38x

*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 Mynaric, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Mynaric's assets?
Raw Data
DB:M0Y PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €8.62
XTRA:M0Y Share Price * XTRA (2019-10-11) in EUR €37.3
Europe Aerospace & Defense Industry PB Ratio Median Figure of 49 Publicly-Listed Aerospace & Defense Companies 1.96x
Germany Market PB Ratio Median Figure of 597 Publicly-Listed Companies 1.74x
DB:M0Y PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= XTRA:M0Y Share Price ÷ Book Value per Share (both in EUR)

= 37.3 ÷ 8.62

4.33x

* Primary Listing of Mynaric.

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

  • Mynaric is overvalued based on assets compared to the Europe Aerospace & Defense industry average.
X
Value checks
We assess Mynaric'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 Aerospace & Defense 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 Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. Mynaric 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.

M0Y Future Performance

 How is Mynaric 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
94.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Mynaric expected to grow at an attractive rate?
  • Mynaric's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Mynaric's earnings growth is expected to exceed the Germany market average.
  • Mynaric's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:M0Y Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:M0Y Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 94.6%
DB:M0Y Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 71.7%
Europe Aerospace & Defense Industry Earnings Growth Rate Market Cap Weighted Average 14.2%
Europe Aerospace & Defense Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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
DB:M0Y Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:M0Y Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31 281 1
2021-12-31 122 32 19 1
2020-12-31 37 23 -2 1
2019-12-31 14 4 -7 1
2019-10-12
DB:M0Y Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 5 -7 -7
2018-09-30 4 -8
2018-06-30 3 -2
2018-03-31 3 -3
2017-12-31 3 -7
2017-09-30 2 -3
2017-06-30 1 -2
2017-03-31 1 -2
2016-12-31 1 -2 -2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Mynaric's earnings are expected to grow significantly at over 20% yearly.
  • Mynaric's revenue is expected to grow significantly at over 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
DB:M0Y Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Mynaric Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:M0Y Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 12.06 12.06 12.06 1.00
2021-12-31 6.03 6.03 6.03 1.00
2020-12-31 -0.69 -0.69 -0.69 1.00
2019-12-31 -2.26 -2.26 -2.26 1.00
2019-10-12
DB:M0Y Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 -2.46
2018-09-30 -3.10
2018-06-30 -0.89
2018-03-31 -1.01
2017-12-31 -2.56
2017-09-30 -1.00
2017-06-30
2017-03-31
2016-12-31

*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.
  • Unable to establish if Mynaric will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Mynaric'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.
Mynaric has a total score of 5/6, 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.

M0Y Past Performance

  How has Mynaric 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 Mynaric's growth in the last year to its industry (Aerospace & Defense).
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.
  • Mynaric does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Mynaric's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Mynaric's 1-year growth to the Europe Aerospace & Defense industry average as it is not currently profitable.
Earnings and Revenue History
Mynaric'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 Mynaric Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:M0Y Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 5.50 -6.66 7.16
2018-09-30 4.47 -8.39 5.71
2018-06-30 3.36 -2.40 2.44
2018-03-31 3.12 -2.73 2.75
2017-12-31 2.93 -6.92 3.97
2017-09-30 1.87 -2.70 2.74
2017-06-30 0.85 -2.33 2.42
2017-03-31 0.68 -2.09 2.16
2016-12-31 0.51 -1.84 1.91
2015-12-31 1.86 -0.84 1.24
2014-12-31 1.30 -0.20 0.57
2013-12-31 0.11 0.00 0.33

*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 Mynaric has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Mynaric has efficiently used its assets last year compared to the Europe Aerospace & Defense industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Mynaric 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 Mynaric'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 Aerospace & Defense 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.
Mynaric 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.

M0Y Health

 How is Mynaric'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 Mynaric's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Mynaric is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Mynaric's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Mynaric'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.
  • Low level of unsold assets.
  • Mynaric has no debt, it does not need to be covered by short term assets.
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 Mynaric Company Filings, last reported 9 months ago.

DB:M0Y Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 23.32 0.00 15.24
2018-09-30 23.32 0.00 15.24
2018-06-30 30.73 0.00 17.32
2018-03-31 30.73 0.00 17.32
2017-12-31 30.02 0.00 28.45
2017-09-30 1.66 0.00 1.58
2017-06-30 1.32 0.00 0.35
2017-03-31 1.32 0.00 0.35
2016-12-31 0.26 0.00 0.23
2015-12-31 1.48 0.00 0.71
2014-12-31 0.00 0.00 0.33
2013-12-31 0.03 0.00 0.10
  • Mynaric has no debt.
  • Mynaric has not taken on any debt in the past 5 years.
  • Mynaric has no debt, it does not need to be covered by operating cash flow.
  • Mynaric has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Mynaric'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. Mynaric 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.

M0Y Dividends

 What is Mynaric'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 Mynaric dividends.
If you bought €2,000 of Mynaric shares you are expected to receive €0 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 Mynaric's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Mynaric'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
DB:M0Y 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
Europe Aerospace & Defense Industry Average Dividend Yield Market Cap Weighted Average of 30 Stocks 1.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

DB:M0Y Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2019-12-31
2019-10-12

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

  • Unable to perform a dividend volatility check as Mynaric has not reported any payouts.
  • Unable to verify if Mynaric's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Mynaric's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Mynaric has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Mynaric's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Mynaric afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Mynaric 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.

M0Y Management

 What is the CEO of Mynaric'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.
  • Mynaric has no CEO, or we have no data on them.
Management Team Tenure

Average tenure of the Mynaric management team in years:

0.6
Average Tenure
  • The average tenure for the Mynaric management team is less than 2 years, this suggests a new team.
Management Team

Wolfram Peschko

TITLE
Member of Management Board
TENURE
2.1 yrs

Bulent Altan

TITLE
Member of Management Board
TENURE
0.6 yrs

Hubertus Janecek

TITLE
Member of Management Board
TENURE
0.6 yrs
Board of Directors Tenure

Average tenure of the Mynaric board of directors in years:

1.1
Average Tenure
  • The average tenure for the Mynaric board of directors is less than 3 years, this suggests a new board.
Board of Directors

Manfred Krischke

TITLE
Chairman of the Supervisory Board

Gerd-Achim Gruppe

TITLE
Vice-Chairman of the Supervisory Board
AGE
67
TENURE
1 yrs

Peter Müller-Brühl

TITLE
Vice-Chairman of the Supervisory Board
TENURE
1.3 yrs

Thomas Mayrhofer

TITLE
Member of Supervisory Board
TENURE
0.5 yrs

Thomas Billeter

TITLE
Member of Supervisory Board
TENURE
1.3 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 (€) Value (€)
X
Management checks
We assess Mynaric'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. Mynaric 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.

M0Y News

Simply Wall St News

Market Sentiment Around Loss-Making Mynaric AG (FRA:M0Y)

In this article, I will touch on the expectations for M0Y’s growth and when analysts expect the company to become profitable. … DB:M0Y Past and Future Earnings, July 15th 2019 Given this is a high-level overview, I won’t go into details of M0Y’s upcoming projects, though, take into account that generally a high growth rate is not out of the ordinary, particularly when a company is in a period of investment. … M0Y currently has no debt on its balance sheet, which is quite unusual for a cash-burning loss-making, growth company, which usually has a high level of debt relative to its equity.

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Did Changing Sentiment Drive Mynaric's (FRA:M0Y) Share Price Down By 25%?

Unfortunately the Mynaric AG (FRA:M0Y) share price slid 25% over twelve months. … View our latest analysis for Mynaric Mynaric 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). … Given the revenue growth, the share price drop of 25% seems quite harsh.

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Investors Are Undervaluing Mynaric AG (FRA:M0Y) By 42.68%

Does the January share price for Mynaric AG (FRA:M0Y) reflect it's really worth? … by taking the expected future cash flows and discounting them to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

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Could The Mynaric AG (FRA:M0Y) Ownership Structure Tell Us Something Useful?

The big shareholder groups in Mynaric AG (FRA:M0Y) have power over the company. … Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Taking a look at the our data on the ownership groups (below), it's seems that.

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How Financially Strong Is Mynaric AG (FRA:M0Y)?

However, it also faces higher cost of capital given interest cost is generally lower than equity. … Is M0Y right in choosing financial flexibility over lower cost of capital. … Debt capital generally has lower cost of capital compared to equity funding

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Mynaric AG (FRA:M0Y): Is Breakeven Near?

Mynaric AG's (FRA:M0Y):. … Mynaric AG provides laser communication solutions for high data rate and long-distance wireless data transmission between moving objects in Germany. … View our latest analysis for Mynaric

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Mynaric AG (FRA:M0Y): Time For A Financial Health Check

The direct benefit for Mynaric AG (FRA:M0Y), which sports a zero-debt capital structure, to include debt in its capital structure is the reduced cost of capital. … However, the trade-off is M0Y will have to adhere to stricter debt covenants and have less financial flexibility. … Is financial flexibility worth the lower cost of capital

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Who Owns Most Of Mynaric AG (FRA:M0Y)?

This level of ownership gives retail investors the power to sway key policy decisions such as board composition, executive compensation, and potential acquisitions. … Private Company Ownership Potential investors in M0Y should also look at another important group of investors: private companies, with a stake of 28.57%, who are primarily invested because of strategic and capital gain interests. … Thus, investors should dig deeper into M0Y's business relations with these companies and how it can affect shareholder returns in the long-term.Next Steps: With a low level of institutional ownership, investors in M0Y need not worry about non-fundamental factors such as ownership structure causing large impact on stock prices.

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Dilution Ahead For Mynaric AG (FRA:M0Y) Shareholders?

See our latest analysis for Mynaric What is cash burn? … DB:M0Y Income Statement Mar 20th 18 When will Mynaric need to raise more cash? … The cash burn analysis result indicates a cash constraint for the company, due to its high opex growth and its level of cash reserves.

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With A -74.18% Earnings Drop, Is Mynaric AG's (FRA:M0Y) A Concern?

View our latest analysis for Mynaric Was M0Y's weak performance lately a part of a long-term decline? … I prefer to use the ‘latest twelve-month’ data, which annualizes the latest 6-month earnings release, or some times, the latest annual report is already the most recent financial data. … Though Mynaric's past data is helpful, it is only one aspect of my investment thesis.

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M0Y Company Info

Description

Mynaric AG provides laser communication solutions for high data rate and long-distance wireless data transmission between moving objects in Germany. The company offers air to ground, air-to-air, and space terminals, as well as optical ground stations. Its products are used in space, air, and ground applications. Mynaric AG was founded in 2009 and is headquartered in Gilching, Germany.

Details
Name: Mynaric AG
M0Y
Exchange: DB
Founded: 2009
€100,870,539
2,704,304
Website: http://www.mynaric.com
Address: Mynaric AG
Friedrichshafener Strasse 3,
Gilching,
Bavaria, 82205,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA M0Y Ordinary Shares XETRA Trading Platform DE EUR 18. Oct 2017
DB M0Y Ordinary Shares Deutsche Boerse AG DE EUR 18. Oct 2017
LSE 0AR9 Ordinary Shares London Stock Exchange GB EUR 18. Oct 2017
Number of employees
Current staff
Staff numbers
80
Mynaric employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/12 23:16
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/07/18
Last earnings filing: 2019/05/22
Last earnings reported: 2018/12/31
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.