Mycronic MYCR.ST
SwedenIndustrials · Specialty Industrial MachineryNasdaq Estocolmo · SEK
321.67 SEK (−6.8%)
3 analysts
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Mycronic AB is a Swedish industrial technology company that designs and manufactures high-precision equipment, primarily surface mount technology (SMT) solutions and photomasks for the semiconductor and electronics industry.
Listed on Nasdaq Estocolmo · Symbol MYCR.ST · STO: MYCR · Currency SEK
Key points
from its scores- ✓Good share-price trend9.4
- ✓Very solid balance sheet8.9
- ✓High-quality business8.1
- ✕Demanding valuation3.3
- !Modest dividend5.4
AI analysis
bottom line, main risk, context and newsBusiness quality and growth justify the premium, but the margin of safety is limited at these prices; wait for a pullback or a better entry point.
Mycronic combines excellent financial health (net cash, 28.89% operating margin) with solid growth (revenue +16.90%), but its valuation is demanding (P/E 38.85, EV/EBITDA 25.13) and momentum is very strong (65.27% over 12 months), suggesting the market already discounts much of the good outlook.
The main risk is valuation: with a P/E of 38.85 and an FCF yield of only 2.36%, any disappointment in the semiconductor capex cycle or in execution could trigger a significant correction.
Context and risks
Mycronic has no material exposure to current macro factors: its precision equipment business for electronics does not depend on oil, European gas or shipping routes, and its net cash balance sheet insulates it from the rate hike. The main risk is the demanding valuation (P/E 38.85) and dependence on its customers' capex cycle, not the macro context.
Is Mycronic stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 63% above the Industrials median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 38.9 | 25.4 | +53% |
| EV / EBITDA | 25.1 | 14.5 | +73% |
| Price / book | 8.5 | 4.1 | +111% |
| Price / sales | 7.8 | 2.1 | +278% |
Sector: median of the 388 Industrials companies analysed. In bold, the multiples used for the comparison.
Valuation score: 3.3 out of 10 (median for Industrials: 5.0).
Average analyst target: 321.67 SEK, −6.8% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 8.1 (sector 5.8), Growth 7.6 (sector 6.6).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Industrials medianValuation
- P/E
- 38.9
- Forward P/E
- 21.1
- EV / EBITDA
- 25.1
- Price / book
- 8.5
- Price / sales
- 7.8
- PEG
- 0.42
- Market cap
- 67.4B SEK
- Enterprise value
- 65.1B SEK
Profitability
- ROE
- 23.7%
- ROA
- 13.1%
- ROIC (approx.)
- 30.1%
- Gross margin
- 54.1%
- Operating margin
- 28.9%
- Net margin
- 20.1%
- Free cash flow
- 1.6B SEK
- FCF yield
- 2.4%
- Cash conversion
- 61%
Solvency
- Total debt
- 420.0M SEK
- Net debt
- −2.3B SEK
- Cash
- 2.7B SEK
- EBITDA
- 2.6B SEK
- Net debt / EBITDA
- −0.87
- Debt / equity
- 5.33
- Current ratio
- 2.23
- Quick ratio
- 1.48
Growth
- Revenue growth
- +16.9%
- Earnings growth
- +18.4%
- EPS (TTM)
- 8.88 SEK
- EPS (forward)
- 16.37 SEK
Dividend
- Dividend yield
- 0.9%
- Payout
- 36.6%
Risk and market
- Beta
- 0.63
- Analyst consensus
- none (3)
- Target price
- 321.67 SEK
- 52-week range
- 183.32 – 364.40
Recent news
All MYCR.ST news →Compare it with its sector
All 388 in Industrials →Frequently asked questions about Mycronic
Is Mycronic stock cheap or expensive?
On P/E and EV / EBITDA, it trades 63% above the Industrials median on average. Valuation score: 3.3 out of 10 (median for Industrials: 5.0). Average analyst target: 321.67 SEK, −6.8% versus the price. This is not investment advice.
What score does Mycronic get on MeridIAn Screener?
It scores 6.5 out of 10, rank 555 of 2,130 (better than 72% of the companies analysed). Its strongest category is Momentum (9.4) and its weakest, Valuation (3.3). Analysis of 08/10/2026.
What is Mycronic's P/E ratio?
Its P/E is 38.9: the share price equals 38.9 times earnings per share over the last 12 months. The Industrials median is 25.4. Based on the earnings analysts expect, the forward P/E is 21.1.
How much is Mycronic worth on the stock market?
Its market capitalisation is 67.4B SEK and its enterprise value, debt included, is 65.1B SEK.
How much debt does Mycronic have?
It has more cash than debt: net cash of 2.3B SEK.
Does Mycronic pay a dividend?
Yes: its dividend yield is 0.94% and it pays out 37% of its earnings.
How has Mycronic stock performed over the last year?
It has risen 78.0% over the last year, excluding dividends. Over the last 52 weeks it has traded between 183.32 and 364.40 SEK. Past performance does not guarantee future results.
What do analysts think of Mycronic?
3 analysts cover it; their average recommendation is “none” and their average target is 321.67 SEK (−6.8% versus the price). It is an estimate, not market data.