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Micro Systemation

OM:MSAB B
Snowflake Description

Excellent balance sheet with reasonable growth potential and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MSAB B
OM
SEK681M
Market Cap
  1. Home
  2. SE
  3. Software
Company description

Micro Systemation AB (publ) provides forensic technology for mobile device examination worldwide. The last earnings update was 48 days ago. More info.


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MSAB B Share Price and Events
7 Day Returns
-1.6%
OM:MSAB B
3%
SE Software
1.9%
SE Market
1 Year Returns
-36.4%
OM:MSAB B
65.8%
SE Software
24%
SE Market
MSAB B Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Micro Systemation (MSAB B) -1.6% -12.1% 10.1% -36.4% -46.5% 85.4%
SE Software 3% 8.3% 19.3% 65.8% 103.5% 236.2%
SE Market 1.9% -0% 7.8% 24% 13.6% 28.3%
1 Year Return vs Industry and Market
  • MSAB B underperformed the Software industry which returned 65.8% over the past year.
  • MSAB B underperformed the Market in Sweden which returned 24% over the past year.
Price Volatility
MSAB B
Industry
5yr Volatility vs Market

Value

 Is Micro Systemation 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 Micro Systemation 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 Micro Systemation.

OM:MSAB B 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 5.7%
Perpetual Growth Rate 10-Year SE 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 OM:MSAB B
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Software Unlevered Beta Simply Wall St/ S&P Global 1.14
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.135 (1 + (1- 22%) (4.52%))
1.117
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.12
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.42% + (1.117 * 5.44%)
5.66%

Discounted Cash Flow Calculation for OM:MSAB B using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Micro Systemation 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.

OM:MSAB B DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SEK, Millions) Source Present Value
Discounted (@ 5.66%)
2020 33.00 Analyst x1 31.23
2021 52.60 Analyst x1 47.12
2022 59.40 Est @ 12.93% 50.36
2023 64.70 Est @ 8.92% 51.91
2024 68.66 Est @ 6.12% 52.14
2025 71.51 Est @ 4.16% 51.40
2026 73.50 Est @ 2.78% 50.00
2027 74.84 Est @ 1.82% 48.19
2028 75.70 Est @ 1.15% 46.13
2029 76.22 Est @ 0.68% 43.96
Present value of next 10 years cash flows SEK472.00
OM:MSAB B DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= SEK76.22 × (1 + -0.42%) ÷ (5.66% – -0.42%)
SEK1,248.69
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SEK1,248.69 ÷ (1 + 5.66%)10
SEK720.16
OM:MSAB B Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SEK472.00 + SEK720.16
SEK1,192.16
Equity Value per Share
(SEK)
= Total value / Shares Outstanding
= SEK1,192.16 / 18.47
SEK64.55
OM:MSAB B Discount to Share Price
Calculation Result
Value per share (SEK) From above. SEK64.55
Current discount Discount to share price of SEK36.90
= -1 x (SEK36.90 - SEK64.55) / SEK64.55
42.8%

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

Current Discount
Amount off the current price Micro Systemation is available for.
Intrinsic value
43%
Share price is SEK36.9 vs Future cash flow value of SEK64.55
Current Discount Checks
For Micro Systemation to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Micro Systemation's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Micro Systemation'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 Micro Systemation's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Micro Systemation's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OM:MSAB B PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in SEK SEK0.60
OM:MSAB B Share Price ** OM (2019-12-10) in SEK SEK36.9
Sweden Software Industry PE Ratio Median Figure of 15 Publicly-Listed Software Companies 49.08x
Sweden Market PE Ratio Median Figure of 352 Publicly-Listed Companies 18.68x

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

** Primary Listing of Micro Systemation.

OM:MSAB B PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OM:MSAB B Share Price ÷ EPS (both in SEK)

= 36.9 ÷ 0.60

61.26x

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

  • Micro Systemation is overvalued based on earnings compared to the SE Software industry average.
  • Micro Systemation is overvalued based on earnings compared to the Sweden market.
Price based on expected Growth
Does Micro Systemation's expected growth come at a high price?
Raw Data
OM:MSAB B PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 61.26x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
68.8%per year
Sweden Software Industry PEG Ratio Median Figure of 8 Publicly-Listed Software Companies 2.06x
Sweden Market PEG Ratio Median Figure of 237 Publicly-Listed Companies 1.28x

*Line of best fit is calculated by linear regression .

OM:MSAB B PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 61.26x ÷ 68.8%

0.89x

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

  • Micro Systemation is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Micro Systemation's assets?
Raw Data
OM:MSAB B PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in SEK SEK4.14
OM:MSAB B Share Price * OM (2019-12-10) in SEK SEK36.9
Sweden Software Industry PB Ratio Median Figure of 38 Publicly-Listed Software Companies 4.86x
Sweden Market PB Ratio Median Figure of 756 Publicly-Listed Companies 2.7x
OM:MSAB B PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OM:MSAB B Share Price ÷ Book Value per Share (both in SEK)

= 36.9 ÷ 4.14

8.92x

* Primary Listing of Micro Systemation.

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

  • Micro Systemation is overvalued based on assets compared to the SE Software industry average.
X
Value checks
We assess Micro Systemation'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 Software 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 Software industry average (and greater than 0)? (1 check)
  5. Micro Systemation has a total score of 3/6, 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 Micro Systemation 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
68.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Micro Systemation expected to grow at an attractive rate?
  • Micro Systemation's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Micro Systemation's earnings growth is expected to exceed the Sweden market average.
  • Micro Systemation's revenue growth is expected to exceed the Sweden market average.
Annual Growth Rates Comparison
Raw Data
OM:MSAB B Future Growth Rates Data Sources
Data Point Source Value (per year)
OM:MSAB B Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 68.8%
OM:MSAB B Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 15.4%
Sweden Software Industry Earnings Growth Rate Market Cap Weighted Average 25.4%
Sweden Software Industry Revenue Growth Rate Market Cap Weighted Average 15.2%
Sweden Market Earnings Growth Rate Market Cap Weighted Average 9.4%
Sweden Market Revenue Growth Rate Market Cap Weighted Average 4.4%

*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
OM:MSAB B Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OM:MSAB B Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 433 54 54 1
2020-12-31 383 34 35 1
2019-12-31 321 14 14 1
2019-12-10
OM:MSAB B Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2019-09-30 310 36 11
2019-06-30 306 10 7
2019-03-31 305 -2 19
2018-12-31 304 5 28
2018-09-30 303 27 34
2018-06-30 315 38 50
2018-03-31 312 45 53
2017-12-31 302 48 53
2017-09-30 289 13 56
2017-06-30 258 42 44
2017-03-31 251 50 46
2016-12-31 242 52 45

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Micro Systemation's earnings are expected to grow significantly at over 20% yearly.
  • Micro Systemation's revenue is expected to grow by 15.4% 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
OM:MSAB B Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Micro Systemation Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:MSAB B Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 2.84 2.84 2.84 1.00
2020-12-31 1.83 1.83 1.83 1.00
2019-12-31 0.71 0.71 0.71 1.00
2019-12-10
OM:MSAB B Past Financials Data
Date (Data in SEK Millions) EPS *
2019-09-30 0.60
2019-06-30 0.37
2019-03-31 1.03
2018-12-31 1.51
2018-09-30 1.88
2018-06-30 2.71
2018-03-31 2.89
2017-12-31 2.88
2017-09-30 3.06
2017-06-30 2.42
2017-03-31 2.50
2016-12-31 2.48

*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 Micro Systemation will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Micro Systemation'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 Sweden market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Sweden 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.
Micro Systemation 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 Micro Systemation 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 Micro Systemation's growth in the last year to its industry (Software).
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.
  • Micro Systemation's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Micro Systemation's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Micro Systemation's 1-year earnings growth is negative, it can't be compared to the SE Software industry average.
Earnings and Revenue History
Micro Systemation'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 Micro Systemation Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:MSAB B Past Revenue, Cash Flow and Net Income Data
Date (Data in SEK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 309.87 11.15 258.65
2019-06-30 305.97 6.75 255.45
2019-03-31 304.87 19.05 244.75
2018-12-31 303.87 27.75 232.55
2018-09-30 302.56 34.49 221.49
2018-06-30 315.16 49.89 213.99
2018-03-31 311.66 53.09 206.49
2017-12-31 301.76 52.89 201.59
2017-09-30 288.86 55.84 192.99
2017-06-30 258.46 44.14 181.19
2017-03-31 250.96 46.04 171.99
2016-12-31 242.36 45.24 163.19
2016-09-30 235.61 44.13 157.75
2016-06-30 223.61 37.73 155.35
2016-03-31 223.21 37.33 151.35
2015-12-31 226.91 45.13 148.65
2015-09-30 227.27 43.78 153.07
2015-06-30 213.57 41.77 135.03
2015-03-31 199.53 29.12 129.59
2014-12-31 180.97 10.38 134.37
2014-09-30 156.44 -1.42 123.39
2014-06-30 142.82 -10.24 130.39
2014-03-31 141.15 0.95 125.71
2013-12-31 137.53 6.84 111.01
2013-09-30 151.10 16.22 106.50
2013-06-30 150.11 17.07 103.43
2013-03-31 138.39 10.78 99.44
2012-12-31 136.64 14.37 95.08

*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.
  • Micro Systemation has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Micro Systemation used its assets less efficiently than the SE Software industry average last year based on Return on Assets.
  • Micro Systemation's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Micro Systemation'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 Software 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.
Micro Systemation has a total score of 1/6, 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 Micro Systemation'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 Micro Systemation's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Micro Systemation is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Micro Systemation's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Micro Systemation'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 4.3487883901796E+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 Micro Systemation Company Filings, last reported 2 months ago.

OM:MSAB B Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 76.50 0.00 58.00
2019-06-30 55.10 0.00 52.50
2019-03-31 106.90 0.00 93.10
2018-12-31 110.10 0.00 98.82
2018-09-30 103.10 0.00 70.50
2018-06-30 84.50 0.00 80.40
2018-03-31 120.10 0.00 128.90
2017-12-31 114.61 0.00 127.43
2017-09-30 100.40 0.00 76.30
2017-06-30 71.10 0.00 77.80
2017-03-31 108.40 0.00 124.80
2016-12-31 104.42 0.00 123.20
2016-09-30 86.80 0.00 107.10
2016-06-30 67.80 0.00 78.60
2016-03-31 101.10 0.00 115.10
2015-12-31 90.85 0.00 103.70
2015-09-30 75.40 0.00 84.90
2015-06-30 63.70 0.00 70.24
2015-03-31 76.24 0.00 74.11
2014-12-31 63.23 0.00 56.46
2014-09-30 47.95 0.00 33.06
2014-06-30 36.41 0.00 30.73
2014-03-31 40.72 0.00 22.79
2013-12-31 48.23 0.00 41.23
2013-09-30 46.49 0.00 41.80
2013-06-30 46.00 0.00 43.50
2013-03-31 50.90 0.00 50.01
2012-12-31 52.71 0.00 34.54
  • Micro Systemation's level of debt (0%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Micro Systemation's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (1.0198964306134E+18%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 24.6x coverage).
X
Financial health checks
We assess Micro Systemation'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. Micro Systemation has a total score of 5/6, 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 Micro Systemation'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
5.96%
Current annual income from Micro Systemation dividends. Estimated to be 3.97% next year.
If you bought SEK2,000 of Micro Systemation shares you are expected to receive SEK119 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?
  • Micro Systemation's pays a higher dividend yield than the bottom 25% of dividend payers in Sweden (1.61%).
  • Micro Systemation's dividend is above the markets top 25% of dividend payers in Sweden (4.75%).
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
OM:MSAB B 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
Sweden Software Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 1.1%
Sweden Market Average Dividend Yield Market Cap Weighted Average of 260 Stocks 3.3%
Sweden Minimum Threshold Dividend Yield 10th Percentile 1%
Sweden Bottom 25% Dividend Yield 25th Percentile 1.6%
Sweden Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

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

OM:MSAB B Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 2.00 1.00
2020-12-31 1.30 1.00
2019-12-31 1.10 1.00
2019-12-10
OM:MSAB B Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2019-04-15 2.200 5.800
2018-05-16 2.200 3.396
2017-04-19 2.200 3.232
2017-01-31 2.200 3.637
2016-04-04 2.200 4.160
2015-04-15 1.000 1.681
2015-02-05 1.000 2.525
2014-04-16 0.100 0.625
2014-02-04 0.100 0.822
2013-04-17 0.600 4.072
2013-02-01 0.600 4.002
2012-04-04 1.000 7.086
2012-02-03 1.000 5.900
2011-03-29 0.800 4.800
2011-02-04 0.800 4.291
2010-04-09 0.650 4.020
2010-02-05 0.650 3.797
2009-03-04 0.650 5.138
2009-02-06 0.650 6.342

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Micro Systemation's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.4x coverage).
X
Income/ dividend checks
We assess Micro Systemation's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - 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 Micro Systemation afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Micro Systemation has a total score of 4/6, 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 Micro Systemation'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
Joel Bollö
COMPENSATION SEK3,574,000
AGE 51
CEO Bio

Mr. Joel Bollö serves as the Chief Executive Officer of Micro Systemation AB and DLX AB. Mr. Bollö serves as a Key Account Manager of Netwise AB. He served as the President of Micro Systemation AB.

CEO Compensation
  • Joel's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Joel's remuneration is higher than average for companies of similar size in Sweden.
Management Team

Henrik Tjernberg

TITLE
Chairman of the Board
COMPENSATION
SEK500K
AGE
59

Joel Bollö

TITLE
Chief Executive Officer
COMPENSATION
SEK4M
AGE
51

Henrik Bergentoft

TITLE
Chief Financial Officer
AGE
45
TENURE
3.3 yrs

Per-Olof Stark

TITLE
Chief Operating Officer
AGE
65

Joakim Grundvall

TITLE
Chief Technology Officer

Steele Hays

TITLE
Chief Marketing Officer

Susanne Jegendal

TITLE
Head of Human Resources

Örjan Gatu

TITLE
Deputy CEO
AGE
48

Bradley Sipes

TITLE
Chief Product Officer

Glenn Hickok

TITLE
President of North America
Board of Directors Tenure

Average tenure and age of the Micro Systemation board of directors in years:

8.9
Average Tenure
59
Average Age
  • The tenure for the Micro Systemation board of directors is about average.
Board of Directors

Henrik Tjernberg

TITLE
Chairman of the Board
COMPENSATION
SEK500K
AGE
59
TENURE
17.9 yrs

Jan-Olof Backman

TITLE
Independent Director
COMPENSATION
SEK185K
AGE
58
TENURE
17.9 yrs

Katarina Bonde

TITLE
Independent Director
COMPENSATION
SEK185K
AGE
61
TENURE
8.9 yrs

Robert Ahldin

TITLE
Independent Director
COMPENSATION
SEK185K
AGE
48
TENURE
6.9 yrs

Carl Bildt

TITLE
Independent Director
COMPENSATION
SEK185K
AGE
70
TENURE
3.6 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Micro Systemation individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (SEK) Value (SEK)
18. Sep 19 Buy Joel Bollö Individual 16. Sep 19 16. Sep 19 10,000 SEK33.76 SEK337,600
24. Jul 19 Buy Henrik Tjernberg Individual 24. Jul 19 24. Jul 19 3,300 SEK26.50 SEK87,450
25. Jul 19 Buy Henrik Tjernberg Individual 25. Jul 19 25. Jul 19 10,000 SEK27.80 SEK276,205
23. May 19 Buy Jan-Olof Backman Individual 23. May 19 23. May 19 10,000 SEK49.55 SEK495,500
22. May 19 Buy Jan-Olof Backman Individual 20. May 19 22. May 19 20,000 SEK49.90 SEK986,672
27. Apr 19 Buy Jan-Olof Backman Individual 26. Apr 19 26. Apr 19 1,709 SEK57.60 SEK98,438
26. Apr 19 Buy Jan-Olof Backman Individual 24. Apr 19 26. Apr 19 39,601 SEK52.02 SEK2,012,692
26. Mar 19 Sell Joel Bollö Individual 21. Mar 19 21. Mar 19 -50,000 SEK58.70 SEK-2,935,000
X
Management checks
We assess Micro Systemation'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. Micro Systemation 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

Does The Micro Systemation AB (publ) (STO:MSAB B) Share Price Tend To Follow The Market?

See our latest analysis for Micro Systemation What MSAB B's beta value tells investors Given that it has a beta of 1.17, we can surmise that the Micro Systemation share price has been fairly sensitive to market volatility (over the last 5 years). … If this beta value holds true in the future, Micro Systemation shares are likely to rise more than the market when the market is going up, but fall faster when the market is going down. … What this means for you: Since Micro Systemation tends to moves up when the market is going up, and down when it's going down, potential investors may wish to reflect on the overall market, when considering the stock.

Simply Wall St -

Is Micro Systemation AB (publ)'s (STO:MSAB B) 8.1% Dividend Sustainable?

We also measure dividends paid against a company's levered free cash flow, to see if enough cash was generated to cover the dividend. … Cash is slightly more important than profit from a dividend perspective, but given Micro Systemation's payments were not well covered by either earnings or cash flow, we are concerned about the sustainability of this dividend. … Micro Systemation paid out almost all of its cash flow and profit as dividends, leaving little to reinvest in the business.

Simply Wall St -

What Is Micro Systemation's (STO:MSAB B) P/E Ratio After Its Share Price Tanked?

Check out our latest analysis for Micro Systemation How Does Micro Systemation's P/E Ratio Compare To Its Peers? … Micro Systemation's earnings per share fell by 64% in the last twelve months. … So What Does Micro Systemation's Balance Sheet Tell Us?

Simply Wall St -

Micro Systemation AB (publ) (STO:MSAB B) Is Employing Capital Very Effectively

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Micro Systemation: 0.22 = kr23m ÷ (kr217m - kr110m) (Based on the trailing twelve months to March 2019.) So, Micro Systemation has an ROCE of 22%. … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE. … Micro Systemation boasts an attractive ROCE, even after considering the boost from high current liabilities.

Simply Wall St -

If You Had Bought Micro Systemation (STO:MSAB B) Stock Five Years Ago, You Could Pocket A 188% Gain Today

While Micro Systemation AB (publ) (STO:MSAB B) shareholders are probably generally happy, the stock hasn't had particularly good run recently, with the share price falling 11% in the last quarter. … During five years of share price growth, Micro Systemation achieved compound earnings per share (EPS) growth of 81% per year. … As it happens, Micro Systemation's TSR for the last 5 years was 240%, which exceeds the share price return mentioned earlier.

Simply Wall St -

Who Has Been Buying Micro Systemation AB (publ) (STO:MSAB B) Shares?

So before you buy or sell Micro Systemation AB (publ) (STO:MSAB B), you may well want to know whether insiders have been buying or selling. … For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year.' View our latest analysis for Micro Systemation The Last 12 Months Of Insider Transactions At Micro Systemation In the last twelve months, the biggest single sale by an insider was when the Chief Executive Officer, Joel Bollö, sold kr2.9m worth of shares at a price of kr58.70 per share. … Insiders at Micro Systemation Have Bought Stock Recently Over the last three months, we've seen significantly more insider buying, than insider selling, at Micro Systemation.

Simply Wall St -

Can Micro Systemation AB (publ) (STO:MSAB B) Maintain Its Strong Returns?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Micro Systemation: 18% = kr19m ÷ kr107m (Based on the trailing twelve months to March 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Combining Micro Systemation's Debt And Its 18% Return On Equity Micro Systemation has a debt to equity ratio of 0.31, which is far from excessive. … In my book the highest quality companies have high return on equity, despite low debt.

Simply Wall St -

Should You Be Concerned About Micro Systemation AB (publ)'s (STO:MSAB B) Historical Volatility?

Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … See our latest analysis for Micro Systemation What does MSAB B's beta value mean to investors? … What this means for you: Since Micro Systemation tends to moves up when the market is going up, and down when it's going down, potential investors may wish to reflect on the overall market, when considering the stock.

Simply Wall St -

Should You Investigate Micro Systemation AB (publ) (STO:MSAB B) At kr49.50?

Let’s take a look at Micro Systemation’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … Great news for investors – Micro Systemation is still trading at a fairly cheap price. … What’s more interesting is that, Micro Systemation’s share price is quite volatile, which gives us more chances to buy since the share price could sink lower (or rise higher) in the future.

Simply Wall St -

How Should Investors Feel About Micro Systemation AB (publ)'s (STO:MSAB B) CEO Pay?

The CEO of Micro Systemation AB (publ) (STO:MSAB B) is Joel Bollö. … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Joel Bollö's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Company Info

Description

Micro Systemation AB (publ) provides forensic technology for mobile device examination worldwide. The company offers XRY software that retrieves information, such as pictures, SMS, call history, contact lists, and application data from smart and mobile phones, 3G modems, GPS, and tablet devices. Its XRY software products include XRY logical, a software solution that enables investigators to access and recover live and file system data from the device right on the crime scene; XRY Physical, a software solution, which is used for the physical recovery of data from mobile devices; XRY Cloud to recover data beyond the mobile device; XRY PinPoint enables users to extract and decode data from non-standard mobile devices; XRY Camera, a hardware-based solution for forensic examiners to capture photos of the examined devices and screenshots to complement XRY reports; XRY Express that provides workflow for mobile device extractions, which enables processing by field-based investigators and others; and XRY Drone. The company also offers XAMN Viewer, a tool for viewing the results of XRY extraction files; XAMN Spotlight, a tool that helps to find and analyze data; XAMN Elements for forensic data analysis and reconstruction; and XAMN Horizon primarily for the visualization of mobile devices forensic files. In addition, it provides XEC Director to manage, comply with, and control forensic mobile operations; XEC Export, a tool for users who need batch export; and iVe, a vehicle system forensics tool to identify, acquire, and analyze information stored within vehicle systems and uncover key evidence. Further, the company offers implementation, training, and support services. Its products are used by police, law enforcement, military, and government intelligence agencies, as well as forensic laboratories to investigate crime, gather intelligence, investigate fraud, and fight corruption. Micro Systemation AB (publ) was founded in 1984 and is headquartered in Stockholm, Sweden.

Details
Name: Micro Systemation AB (publ)
MSAB B
Exchange: OM
Founded: 1984
SEK681,484,107
18,468,404
Website: http://www.msab.com
Address: Micro Systemation AB (publ)
Hornsbruksgatan 28,
Box 17111,
Stockholm,
Stockholm County, 104 62,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM MSAB B Series B Shares OMX Nordic Exchange Stockholm SE SEK 24. Jan 2007
LSE 0FBM Series B Shares London Stock Exchange GB SEK 24. Jan 2007
BATS-CHIXE MSABBS Series B Shares BATS 'Chi-X Europe' GB SEK 24. Jan 2007
Number of employees
Current staff
Staff numbers
192
Micro Systemation employees.
Industry
Systems Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/10 20:46
End of day share price update: 2019/12/10 00:00
Last estimates confirmation: 2019/10/23
Last earnings filing: 2019/10/23
Last earnings reported: 2019/09/30
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.