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Mutares SE KGaA

DB:MUX
Snowflake Description

Undervalued with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MUX
DB
€110M
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Mutares SE & Co. KGaA is a private equity firm specializing in investments in secondary direct, special situations, bridge financing, recapitalization, distressed/vulture, management succession, reorganization, carve-outs, turnarounds, and re-funding. The last earnings update was 238 days ago. More info.


Add to Portfolio Compare Print
  • Mutares SE KGaA is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Mutares SE KGaA has significant price volatility in the past 3 months.
MUX Share Price and Events
7 Day Returns
-11%
DB:MUX
-6.8%
DE Capital Markets
-2.7%
DE Market
1 Year Returns
-21.8%
DB:MUX
-11.8%
DE Capital Markets
-20.4%
DE Market
MUX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Mutares SE KGaA (MUX) -11% -37.3% -46.4% -21.8% -47% -53.5%
DE Capital Markets -6.8% -21.9% -18% -11.8% -29% -57.8%
DE Market -2.7% -18.4% -26.7% -20.4% -25.9% -30.4%
1 Year Return vs Industry and Market
  • MUX underperformed the Capital Markets industry which returned -11.8% over the past year.
  • MUX underperformed the Market in Germany which returned -20.4% over the past year.
Price Volatility
MUX
Industry
5yr Volatility vs Market

Value

 Is Mutares SE KGaA 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 Mutares SE KGaA 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 Mutares SE KGaA.

DB:MUX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= €11.76 * 18.8%
€2.21
Book Value of Equity per Share Median Book Value from the past 5 years. €11.76
Discount Rate (Cost of Equity) See below 5.7%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

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:MUX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.747 (1 + (1- 30%) (80.75%))
1.113
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)
= -0.39% + (1.113 * 5.44%)
5.67%

Discounted Cash Flow Calculation for DB:MUX using Excess Returns Model Model

The calculations below outline how an intrinsic value for Mutares SE KGaA is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:MUX Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (18.8% – 5.67%) * €11.76)
€1.54
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €1.54 / (5.67% - -0.39%)
€25.42
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €11.76 + €25.42
€37.18
DB:MUX Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:MUX represents 1.00278x of XTRA:MUX
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00278x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 37.18 x 1.00278
€37.28
Value per share (EUR) From above. €37.28
Current discount Discount to share price of €7.23
= -1 x (€7.23 - €37.28) / €37.28
80.6%

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

Current Discount
Amount off the current price Mutares SE KGaA is available for.
Intrinsic value
>50%
Share price is €7.23 vs Future cash flow value of €37.28
Current Discount Checks
For Mutares SE KGaA to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Mutares SE KGaA's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Mutares SE KGaA'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 Mutares SE KGaA's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Mutares SE KGaA's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:MUX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in EUR €3.54
XTRA:MUX Share Price ** XTRA (2020-04-02) in EUR €7.21
Germany Capital Markets Industry PE Ratio Median Figure of 17 Publicly-Listed Capital Markets Companies 22.18x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.15x

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

** Primary Listing of Mutares SE KGaA.

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

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

= 7.21 ÷ 3.54

2.04x

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

  • Mutares SE KGaA is good value based on earnings compared to the DE Capital Markets industry average.
  • Mutares SE KGaA is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Mutares SE KGaA's expected growth come at a high price?
Raw Data
DB:MUX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 2.04x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
-3.5%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 7 Publicly-Listed Capital Markets Companies 1.55x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

DB:MUX PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 2.04x ÷ -3.5%

-0.58x

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

  • Mutares SE KGaA earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Mutares SE KGaA's assets?
Raw Data
DB:MUX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in EUR €13.31
XTRA:MUX Share Price * XTRA (2020-04-02) in EUR €7.21
Germany Capital Markets Industry PB Ratio Median Figure of 32 Publicly-Listed Capital Markets Companies 1.55x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:MUX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 7.21 ÷ 13.31

0.54x

* Primary Listing of Mutares SE KGaA.

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

  • Mutares SE KGaA is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess Mutares SE KGaA'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 Capital Markets 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 Capital Markets industry average (and greater than 0)? (1 check)
  5. Mutares SE KGaA 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 Mutares SE KGaA 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
-3.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Mutares SE KGaA expected to grow at an attractive rate?
  • Mutares SE KGaA's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Mutares SE KGaA's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Mutares SE KGaA's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:MUX Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:MUX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts -3.5%
DB:MUX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 17.5%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 40%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 0.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4%

*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:MUX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:MUX Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 2,750 19 36 1
2023-12-31 2,500 14 30 1
2022-12-31 2,250 9 26 1
2021-12-31 2,100 -2 18 1
2020-12-31 1,950 -4 18 1
2020-04-02
2019-12-31 1,010 -51 27 1
DB:MUX Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-06-30 843 -37 53
2019-03-31 856 -24 34
2018-12-31 869 -11 15
2018-09-30 914 -15 19
2018-06-30 960 -18 24
2018-03-31 931 -24 34
2017-12-31 903 -29 44
2017-09-30 829 -35 49
2017-06-30 756 -42 53
2017-03-31 704 -38 40
2016-12-31 652 -34 27
2016-09-30 666 -3

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Mutares SE KGaA's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Mutares SE KGaA's revenue is expected to grow by 17.5% 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
DB:MUX 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 1 Analyst Estimates (S&P Global) See Below

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

DB:MUX Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2020-04-02
2019-12-31
DB:MUX Past Financials Data
Date (Data in EUR Millions) EPS *
2019-06-30 3.54
2019-03-31 2.23
2018-12-31 0.96
2018-09-30 1.23
2018-06-30 1.50
2018-03-31 2.17
2017-12-31 2.85
2017-09-30 3.15
2017-06-30 3.45
2017-03-31 2.59
2016-12-31 1.73
2016-09-30 -0.19

*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 Mutares SE KGaA will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Mutares SE KGaA'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 Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany 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.
Mutares SE KGaA 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 Mutares SE KGaA performed over the past 5 years?

  • Mutares SE KGaA's last earnings update was 238 days ago.
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 Mutares SE KGaA's growth in the last year to its industry (Capital Markets).
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.
  • Mutares SE KGaA has delivered over 20% year on year earnings growth in the past 5 years.
  • Mutares SE KGaA's 1-year earnings growth exceeds its 5-year average (124.2% vs 40.1%)
  • Mutares SE KGaA's earnings growth has exceeded the DE Capital Markets industry average in the past year (124.2% vs 5.7%).
Earnings and Revenue History
Mutares SE KGaA'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 Mutares SE KGaA Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MUX Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 842.60 52.90 257.70
2019-03-31 855.75 33.80 253.80
2018-12-31 868.90 14.70 249.90
2018-09-30 914.45 19.15 255.85
2018-06-30 960.00 23.60 261.80
2018-03-31 931.40 33.90 261.40
2017-12-31 902.80 44.20 261.00
2017-09-30 829.17 48.80 239.22
2017-06-30 755.55 53.39 217.44
2017-03-31 703.77 40.10 194.12
2016-12-31 652.00 26.80 170.80
2016-09-30 665.54 -2.98 157.72
2016-06-30 682.26 -0.54 158.19
2016-03-31 683.27 3.70 155.07
2015-12-31 684.27 7.94 151.94
2015-09-30 669.76 10.34 146.85
2015-06-30 655.25 12.73 141.75
2015-03-31 653.48 10.63 149.23
2014-12-31 651.71 8.52 156.72
2014-09-30 581.50 -2.26 151.21
2014-06-30 511.28 -13.05 145.71
2014-03-31 429.50 -10.46 126.09
2013-12-31 347.71 -7.87 106.47

*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.
  • Mutares SE KGaA has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Mutares SE KGaA used its assets more efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • It is difficult to establish if Mutares SE KGaA 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 Mutares SE KGaA'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 Capital Markets 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.
Mutares SE KGaA has a total score of 5/6, 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 Mutares SE KGaA'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 Mutares SE KGaA's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Mutares SE KGaA is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Mutares SE KGaA's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Mutares SE KGaA'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 3.4156988423838E+16x 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 Mutares SE KGaA Company Filings, last reported 9 months ago.

DB:MUX Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 229.30 0.00 93.40
2019-03-31 229.30 0.00 93.40
2018-12-31 208.10 47.00 116.60
2018-09-30 208.10 47.00 116.60
2018-06-30 208.10 0.00 117.70
2018-03-31 208.10 0.00 117.70
2017-12-31 165.50 57.10 113.90
2017-09-30 165.50 57.10 113.90
2017-06-30 52.98 75.50 73.32
2017-03-31 52.98 75.50 73.32
2016-12-31 118.30 20.80 79.70
2016-09-30 57.18 49.70 69.63
2016-06-30 56.09 34.65 52.05
2016-03-31 56.09 34.65 52.05
2015-12-31 73.27 35.09 81.19
2015-09-30 73.27 35.09 81.19
2015-06-30 43.57 31.72 61.77
2015-03-31 43.57 31.72 61.77
2014-12-31 50.66 32.28 74.26
2014-09-30 50.66 32.28 74.26
2014-06-30 39.63 24.65 87.24
2014-03-31 39.63 24.65 87.24
2013-12-31 37.88 28.48 47.69
  • Mutares SE KGaA's level of debt (0%) 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 (62.2% vs 0% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on Mutares SE KGaA's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Mutares SE KGaA'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. Mutares SE KGaA has a total score of 4/6, 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 Mutares SE KGaA'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
13.87%
Current annual income from Mutares SE KGaA dividends. Estimated to be 17.34% next year.
If you bought €2,000 of Mutares SE KGaA shares you are expected to receive €277 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?
  • Mutares SE KGaA's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.65%).
  • Mutares SE KGaA's dividend is above the markets top 25% of dividend payers in Germany (4.86%).
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:MUX 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
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 320 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

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

DB:MUX Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31 1.30 1.00
2020-12-31 1.20 1.00
2020-04-02
2019-12-31 1.00 1.00
DB:MUX Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-05-23 1.000 9.894
2018-09-27 0.000 0.000
2018-07-20 0.100 0.940
2017-04-13 0.350 2.461
2016-06-06 0.600 4.551
2015-05-26 0.783 4.608
2014-05-20 0.142 1.091
2011-09-30 0.020 0.258

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

  • Mutares SE KGaA 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 Mutares SE KGaA only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Mutares SE KGaA's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.5x coverage).
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 Mutares SE KGaA's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 Mutares SE KGaA afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Mutares SE KGaA 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 Mutares SE KGaA'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
Robin Laik
AGE 47
TENURE AS CEO 2.2 years
CEO Bio

Mr. Robin Laik Co-Founded at Mutares SE & Co. KGaA in February 2008. He has been Chief Executive Officer of Mutares Management SE-General Partner of Mutares SE & Co. KGaA since February 2018 and Member of Executive Board of Mutares Management SE-General Partner of Mutares SE & Co. KGaA since 2008. Mr. Laik served as Co-Chief Executive Officer of Mutares SE & Co. KGaA since 2008. Mr. Laik focuses on retail, furniture, medical engineering and electronics. Mr. Laik served as Chief Financial Officer of BAVARIA Industriekapital AG from July 2006 to July 2007 and also served as its Member of the Executive Board and Chief Operating Officer. He has held various commercial management positions in the medical and fashion branches. Mr. Laik had monitored on-the-spot restructuring at a number of Bavaria Group subsidiaries. He held several management positions in finance within ESCADA AG, including Head of Mergers and Acquisitions of ESCADA group. He served as Chief Executive Officer of a automotive supplier for plastic components and Chief Financial Officer of a publicly listed holding company and a listed investment company. He is a Director of STS Group AG. Mr. Laik holds an Master's degree (Diplom) in Business Administration from University of Augsburg.

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

Average tenure and age of the Mutares SE KGaA management team in years:

2.2
Average Tenure
47
Average Age
  • The tenure for the Mutares SE KGaA management team is about average.
Management Team

Robin Laik

TITLE
Co Founder
AGE
47
TENURE
2.2 yrs

Mark Friedrich

TITLE
CFO & Member of Executive Board of Mutares Management SE
AGE
41
TENURE
5 yrs

Kristian Schleede

TITLE
Chief Restructuring Officer & Member of Executive Board of Mutares Management SE
AGE
61
TENURE
10.2 yrs

Johannes Laumann

TITLE
Chief Investment Officer & Member of the Executive Board of of Mutares Management SE
AGE
36
TENURE
0.9 yrs

Katarzyna Gruber

TITLE
Head of Accounting

Corinna Lumpp

TITLE
Head of Investor Relations

Jan Thöle

TITLE
General Counsel

Svenja Blöcker

TITLE
Manager of Human Resources
TENURE
2.3 yrs

Wolf Cornelius

TITLE
Senior Advisor of Mutares Management SE
AGE
77
TENURE
0.9 yrs

Patrick Oschust

TITLE
Managing Director of Norsilk
AGE
47
Board of Directors Tenure

Average tenure and age of the Mutares SE KGaA board of directors in years:

2
Average Tenure
62
Average Age
  • The average tenure for the Mutares SE KGaA board of directors is less than 3 years, this suggests a new board.
Board of Directors

Volker Rofalski

TITLE
Chairman of Supervisory Board
AGE
49
TENURE
2.3 yrs

Axel Müller

TITLE
Deputy Chairman of the Supervisory Board
AGE
62
TENURE
1 yrs

Kari Nerg

TITLE
Head of Mutares UK & Director

Micha Bloching

TITLE
Member of the Supervisory Board
AGE
51
TENURE
12.2 yrs

Wolfgang Ley

TITLE
Member of Advisory Board
AGE
81

Lothar Koniarski

TITLE
Member of Supervisory Board
AGE
64
TENURE
1.8 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 Mutares SE KGaA'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. Mutares SE KGaA 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

Why These Fundamentals Make mutares AG (FRA:MUX) Truly A Standout Investment

I've been keeping an eye on mutares AG (FRA:MUX) because I'm attracted to its fundamentals. … Looking at the company as a whole, as a potential stock investment, I believe MUX has a lot to offer. … is a company with great financial health as well as a.

Simply Wall St -

Should You Be Tempted To Buy mutares AG (FRA:MUX) At Its Current PE Ratio?

and want to begin learning the link between mutares AG (FRA:MUX)’s fundamentals and stock market performance. … mutares AG (FRA:MUX) is currently trading at a trailing P/E of 4.3x, which is lower than the industry average of 15.2x. … Although some investors may jump to the conclusion that this is a great buying opportunity, understanding the assumptions behind the P/E ratio might change your mind

Simply Wall St -

What You Must Know About mutares AG's (FRA:MUX) Major Investors

See our latest analysis for mutares DB:MUX Ownership_summary Apr 20th 18 Institutional Ownership In MUX's case, institutional ownership stands at 15.49%, significant enough to cause considerable price moves in the case of large institutional transactions, especially when there is a low level of public shares available on the market to trade. … This level of insider ownership has been found to have a negative impact on companies with consistently low PE ratios (underperformers), while it has been positive in the case of high PE ratio firms (outperformers). … Next Steps: MUX's considerably high level of institutional ownership calls for further analysis into its margin of safety.

Simply Wall St -

Can mutares AG (FRA:MUX) Improve Your Portfolio Returns?

A popular measure of market risk for a stock is its beta, and the market as a whole represents a beta value of one. … MUX’s beta indicates it is a stock that investors may find valuable if they want to reduce the overall market risk exposure of their stock portfolio. … This outcome contradicts MUX’s current beta value which indicates a below-average volatility.

Simply Wall St -

Is mutares AG (FRA:MUX) Cheap And High Growth?

mutares lags the pack with its earnings falling by more than half over the past year, which indicates the company will be growing at a slower pace than its capital markets peers. … In terms of returns, mutares generated 5.93% in the past year, which is 6.82% below the capital markets sector. … Next Steps: mutares has been a capital markets industry laggard in the past year.

Simply Wall St -

Is There Now An Opportunity In mutares AG (FRA:MUX)?

mutares AG (DB:MUX), a capital markets company based in Germany, saw a significant share price rise of over 20% in the past couple of months on the DB. … If you believe the share price should eventually reach its true value, a low beta could suggest it is unlikely to rapidly do so anytime soon, and once it’s there, it may be hard to fall back down into an attractive buying range. … Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations.

Simply Wall St -

Company Info

Description

Mutares SE & Co. KGaA is a private equity firm specializing in investments in secondary direct, special situations, bridge financing, recapitalization, distressed/vulture, management succession, reorganization, carve-outs, turnarounds, and re-funding. The firm typically acquires small and medium-sized companies. It also focuses on platform and add-on acquisitions. The firm makes investments in automotive, wood and paper, construction and infrastructure, engineering, consumer good, energy, Oil and Gas Equipment and Services, industrials, commercial and professional services, commercial repair services, automobiles and components, healthcare equipment and services, materials including containers and packaging. It primarily invests in Europe. It considers acquiring companies that have annual sales volume of more than €50 million ($55.31 million) and revenues between €50 million ($55.31 million) and €500 million ($538.71 million) with an EBITDA up to €5 million ($5.38 million). It prefers to acquire a controlling and majority stake in its portfolio companies. The firm primarily invests in companies with established market positions and whose focus of activity is in Europe. It also considers co-investments also. It typically makes long term investments. The firm invests its personal capital. Mutares SE & Co. KGaA was founded in February, 2008 and is based in Munich, Germany, with additional offices in Milano, Italy; Bad Wiessee, Germany, London, United Kingdom and Paris, France.

Details
Name: Mutares SE & Co. KGaA
MUX
Exchange: DB
Founded: 2008
€109,840,146
15,234,417
Website: http://www.mutares.com
Address: Mutares SE & Co. KGaA
Arnulfstrasse 19,
Munich,
Bavaria, 80335,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA MUX Registered Shares XETRA Trading Platform DE EUR 10. Jun 2008
DB MUX Registered Shares Deutsche Boerse AG DE EUR 10. Jun 2008
MUN MUX Registered Shares Boerse Muenchen DE EUR 10. Jun 2008
LSE 0W2C Registered Shares London Stock Exchange GB EUR 10. Jun 2008
ETLX MUX-U Registered Shares Eurotlx IT EUR 10. Jun 2008
BATS-CHIXE MUXD Registered Shares BATS 'Chi-X Europe' GB EUR 10. Jun 2008
Number of employees
Current staff
Staff numbers
6,000
Mutares SE KGaA employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/02 23:37
End of day share price update: 2020/04/02 00:00
Last estimates confirmation: 2020/02/26
Last earnings filing: 2019/08/08
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.