(NOTE) NOTE - Ratings and Ratios
Circuit Boards, Subassemblies, Box Builds
NOTE EPS (Earnings per Share)
NOTE Revenue
Description: NOTE NOTE
NOTE AB (ST:NOTE) is a leading electronics manufacturing services (EMS) provider operating globally, with a presence in multiple countries including Sweden, Finland, and China. The company collaborates closely with its customers to deliver comprehensive production technology services, including component selection, test equipment development, prototyping, and serial production.
The companys product portfolio includes PCBA (Printed Circuit Board Assembly) production, subassemblies, and box build products, catering to various industries such as medtech, greentech, industrial, and communication. With a strong focus on development, sourcing, logistics, contract manufacturing, and after-sales services, NOTE AB provides end-to-end solutions to its customers.
From a financial perspective, NOTE AB has demonstrated a strong return on equity (RoE) of 16.19%, indicating efficient use of shareholder capital. The companys price-to-earnings (P/E) ratio stands at 21.47, with a forward P/E of 19.23, suggesting a relatively stable earnings outlook. With a market capitalization of 5503.03M SEK, NOTE AB is a significant player in the EMS industry.
To further evaluate the companys performance, key performance indicators (KPIs) such as revenue growth, gross margin, and operating margin can be analyzed. A strong revenue growth trajectory and stable gross margins would indicate NOTE ABs ability to maintain its competitiveness in the EMS market. Additionally, metrics like inventory turnover and days sales outstanding (DSO) can provide insights into the companys operational efficiency.
From a growth perspective, the increasing demand for EMS services driven by the growth of industries such as medtech, greentech, and 5G communication can be a significant tailwind for NOTE AB. The companys ability to capitalize on these trends and expand its customer base will be crucial in driving future growth.
NOTE Stock Overview
| Market Cap in USD | 587m |
| Sub-Industry | Electronic Manufacturing Services |
| IPO / Inception |
NOTE Stock Ratings
| Growth Rating | 72.3% |
| Fundamental | 80.6% |
| Dividend Rating | 13.9% |
| Return 12m vs S&P 500 | 28.1% |
| Analyst Rating | - |
NOTE Dividends
| Dividend Yield 12m | 0.50% |
| Yield on Cost 5y | 1.25% |
| Annual Growth 5y | % |
| Payout Consistency | 38.6% |
| Payout Ratio | 76.3% |
NOTE Growth Ratios
| Growth Correlation 3m | 77% |
| Growth Correlation 12m | 94% |
| Growth Correlation 5y | 29.5% |
| CAGR 5y | 22.54% |
| CAGR/Max DD 5y | 0.40 |
| Sharpe Ratio 12m | 0.78 |
| Alpha | 44.81 |
| Beta | 0.150 |
| Volatility | 36.11% |
| Current Volume | 69.7k |
| Average Volume 20d | 25.6k |
| Stop Loss | 182.1 (-3%) |
| Signal | -0.54 |
Piotroski VR‑10 (Strict, 0-10) 7.0
| Net Income (257.0m TTM) > 0 and > 6% of Revenue (6% = 229.0m TTM) |
| FCFTA 0.20 (>2.0%) and ΔFCFTA 8.07pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 23.92% (prev 24.75%; Δ -0.84pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.20 (>3.0%) and CFO 627.0m > Net Income 257.0m (YES >=105%, WARN >=100%) |
| Net Debt (245.0m) to EBITDA (478.0m) ratio: 0.51 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.72 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (28.5m) change vs 12m ago -1.73% (target <= -2.0% for YES) |
| Gross Margin 13.44% (prev 12.08%; Δ 1.36pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 121.0% (prev 131.2%; Δ -10.15pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 11.12 (EBITDA TTM 478.0m / Interest Expense TTM 32.0m) >= 6 (WARN >= 3) |
Altman Z'' 4.93
| (A) 0.29 = (Total Current Assets 2.18b - Total Current Liabilities 1.27b) / Total Assets 3.12b |
| (B) 0.41 = Retained Earnings (Balance) 1.28b / Total Assets 3.12b |
| (C) 0.11 = EBIT TTM 356.0m / Avg Total Assets 3.15b |
| (D) 0.87 = Book Value of Equity 1.39b / Total Liabilities 1.59b |
| Total Rating: 4.93 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 80.61
| 1. Piotroski 7.0pt = 2.0 |
| 2. FCF Yield 10.94% = 5.0 |
| 3. FCF Margin 16.43% = 4.11 |
| 4. Debt/Equity 0.34 = 2.44 |
| 5. Debt/Ebitda 1.07 = 1.67 |
| 6. ROIC - WACC 50.66% = 12.50 |
| 7. RoE 16.19% = 1.35 |
| 8. Rev. Trend -22.57% = -1.13 |
| 9. Rev. CAGR 1.92% = 0.24 |
| 10. EPS Trend -2.66% = -0.07 |
| 11. EPS CAGR 27.09% = 2.50 |
What is the price of NOTE shares?
Over the past week, the price has changed by -3.35%, over one month by -2.69%, over three months by +15.85% and over the past year by +49.89%.
Is NOTE a good stock to buy?
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of NOTE is around 197.17 SEK . This means that NOTE is currently overvalued and has a potential downside of 4.99%.
Is NOTE a buy, sell or hold?
What are the forecasts/targets for the NOTE price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 168.5 | -10.3% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 215.1 | 14.6% |
NOTE Fundamental Data Overview
Market Cap SEK = 5.59b (5.59b SEK * 1.0 SEK.SEK)
CCE Cash And Equivalents = 372.0m SEK (Cash And Short Term Investments, last quarter)
P/E Trailing = 21.5952
P/E Forward = 18.3824
P/S = 1.4649
P/B = 3.6267
P/EG = 0.8637
Beta = 0.726
Revenue TTM = 3.82b SEK
EBIT TTM = 356.0m SEK
EBITDA TTM = 478.0m SEK
Long Term Debt = 137.0m SEK (from longTermDebt, last quarter)
Short Term Debt = 375.0m SEK (from shortTermDebt, last quarter)
Debt = 512.0m SEK (Calculated: Short Term 375.0m + Long Term 137.0m)
Net Debt = 245.0m SEK (from netDebt column, last quarter)
Enterprise Value = 5.73b SEK (5.59b + Debt 512.0m - CCE 372.0m)
Interest Coverage Ratio = 11.12 (Ebit TTM 356.0m / Interest Expense TTM 32.0m)
FCF Yield = 10.94% (FCF TTM 627.0m / Enterprise Value 5.73b)
FCF Margin = 16.43% (FCF TTM 627.0m / Revenue TTM 3.82b)
Net Margin = 6.73% (Net Income TTM 257.0m / Revenue TTM 3.82b)
Gross Margin = 13.44% ((Revenue TTM 3.82b - Cost of Revenue TTM 3.30b) / Revenue TTM)
Tobins Q-Ratio = 4.13 (Enterprise Value 5.73b / Book Value Of Equity 1.39b)
Interest Expense / Debt = 1.37% (Interest Expense 7.00m / Debt 512.0m)
Taxrate = 20.11% (from yearly Income Tax Expense: 62.4m / 310.4m)
NOPAT = 284.4m (EBIT 356.0m * (1 - 20.11%))
Current Ratio = 1.72 (Total Current Assets 2.18b / Total Current Liabilities 1.27b)
Debt / Equity = 0.34 (Debt 512.0m / last Quarter total Stockholder Equity 1.53b)
Debt / EBITDA = 1.07 (Net Debt 245.0m / EBITDA 478.0m)
Debt / FCF = 0.82 (Debt 512.0m / FCF TTM 627.0m)
Total Stockholder Equity = 1.59b (last 4 quarters mean)
RoA = 8.24% (Net Income 257.0m, Total Assets 3.12b )
RoE = 16.19% (Net Income TTM 257.0m / Total Stockholder Equity 1.59b)
RoCE = 20.64% (Ebit 356.0m / (Equity 1.59b + L.T.Debt 137.0m))
RoIC = 56.77% (NOPAT 284.4m / Invested Capital 501.0m)
WACC = 6.11% (E(5.59b)/V(6.10b) * Re(6.57%)) + (D(512.0m)/V(6.10b) * Rd(1.37%) * (1-Tc(0.20)))
Shares Correlation 5-Years: -63.20 | Cagr: -0.39%
Discount Rate = 6.57% (= CAPM, Blume Beta Adj.) -> floored to rf + ERP 8.05%
[DCF Debug] Terminal Value 81.43% ; FCFE base≈529.5m ; Y1≈653.2m ; Y5≈1.11b
Fair Price DCF = 665.5 (DCF Value 18.96b / Shares Outstanding 28.5m; 5y FCF grow 25.0% → 3.0% )
Revenue Correlation: -22.57 | Revenue CAGR: 1.92%
Rev Growth-of-Growth: -8.41
EPS Correlation: -2.66 | EPS CAGR: 27.09%
EPS Growth-of-Growth: -8.79