Cash flow Mips AB

Equities

MIPS

SE0009216278

Recreational Products

Market Closed - Nasdaq Stockholm Other stock markets 12:00:00 2025-06-19 pm EDT			5-day change	1st Jan Change
451.00 ^SEK	-1.57%		-0.31%	-4.12%

Jun. 18	Pareto Securities raises target price for Mips to SEK 540 (530), reiterates buy recommendation	FW
Jun. 16	DNB Carnegie raises target price for Mips to SEK 530 (480), reiterates buy recommendation - BN	FW

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Published financial data: MIPS AB

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	365M	608M	563M	357M	483M
Total Revenues	365M	608M	563M	357M	483M
Cost of Goods Sold, Total	99M	163M	157M	104M	133M
Gross Profit	266M	445M	406M	253M	350M
Selling General & Admin Expenses, Total	77M	105M	132M	133M	137M
R&D Expenses	18M	24M	26M	35M	39M
Other Operating Expenses	-	-	-1M	1M	0
Other Operating Expenses, Total	95M	129M	157M	169M	176M
Operating Income	171M	316M	249M	84M	174M
Interest Expense, Total	-1M	-	-1M	-1M	-1M
Interest And Investment Income	-	-	-	2M	6M
Net Interest Expenses	-1M	-	-1M	1M	5M
Income (Loss) On Equity Invest.	-	-	-	-	-5M
Currency Exchange Gains (Loss)	-7M	13M	-16M	-15M	6M
Other Non Operating Income (Expenses)	1M	0	-2M	1M	1M
EBT, Excl. Unusual Items	164M	329M	230M	71M	181M
Gain (Loss) On Sale Of Investments	1M	-1M	-7M	13M	2M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	165M	328M	223M	84M	183M
Income Tax Expense	36M	73M	48M	20M	42M
Earnings From Continuing Operations	129M	255M	175M	64M	141M
Net Income to Company	129M	255M	175M	64M	141M
Net Income - (IS)	129M	255M	175M	64M	141M
Net Income to Common Incl Extra Items	129M	255M	175M	64M	141M
Net Income to Common Excl. Extra Items	129M	255M	175M	64M	141M
Per Share Items
Net EPS - Basic	4.96	9.74	6.68	2.44	5.32
Basic EPS - Continuing Operations	4.96	9.74	6.68	2.44	5.32
Basic Weighted Average Shares Outstanding	26M	26.18M	26.18M	26.28M	26.49M
Net EPS - Diluted	4.93	9.64	6.63	2.42	5.32
Diluted EPS - Continuing Operations	4.93	9.64	6.63	2.42	5.32
Diluted Weighted Average Shares Outstanding	26.17M	26.5M	26.41M	26.4M	26.5M
Normalized Basic EPS	3.94	7.85	5.49	1.69	4.27
Normalized Diluted EPS	3.92	7.76	5.44	1.68	4.27
Dividend Per Share	3.5	5	5.5	6	6.5
Payout Ratio	61.24	36.08	74.86	225	112.77
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	180M	325M	261M	97M	188M
EBITA	177M	321M	256M	91M	182M
EBIT	171M	316M	249M	84M	174M
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	21.82	22.26	21.52	23.81	22.95
Total Current Taxes	34.37M	74M	48M	17M	44M
Total Deferred Taxes	1.96M	-1M	-	3M	-2M
Normalized Net Income	102M	206M	144M	44.38M	113M
Interest on Long-Term Debt	1M	-	1M	1M	1M
Supplemental Operating Expense Items
Selling and Marketing Expenses	42M	57M	75M	74M	77M
General and Administrative Expenses	35M	48M	57M	59M	60M
Research And Development Expense From Footnotes	18M	24M	26M	35M	39M
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., G&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	200K	300K	200K	100K	-
Total Stock-Based Compensation	200K	300K	200K	100K	-

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	272M	450M	533M	408M	382M
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	272M	450M	533M	408M	382M
Accounts Receivable, Total	142M	201M	112M	93M	158M
Other Receivables	22M	18M	9M	53M	23M
Total Receivables	164M	219M	121M	146M	181M
Inventory	3M	10M	6M	4M	8M
Prepaid Expenses	1M	1M	3M	4M	3M
Other Current Assets, Total	-	-	-	-	1M
Total Current Assets	440M	680M	663M	562M	575M
Gross Property Plant And Equipment	28M	29M	43M	43M	45M
Accumulated Depreciation	-6M	-10M	-12M	-18M	-24M
Net Property Plant And Equipment	22M	19M	31M	25M	21M
Long-term Investments	-	-	-	80M	74M
Other Intangibles, Total	55M	56M	72M	71M	69M
Deferred Tax Assets Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	-	1M	1M	-	-
Total Assets	517M	756M	767M	738M	739M
Liabilities
Accounts Payable, Total	33M	70M	29M	30M	45M
Accrued Expenses, Total	17M	23M	22M	14M	20M
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	3M	3M	5M	5M	6M
Current Income Taxes Payable	18M	57M	48M	3M	3M
Other Current Liabilities	6M	21M	13M	4M	4M
Total Current Liabilities	77M	174M	117M	56M	78M
Long-Term Debt	-	-	-	-	-
Long-Term Leases	8M	4M	12M	9M	6M
Deferred Tax Liability Non Current	6M	1M	2M	7M	4M
Other Non Current Liabilities	-	-	10M	9M	10M
Total Liabilities	91M	179M	141M	81M	98M
Common Stock, Total	3M	3M	3M	3M	3M
Additional Paid In Capital	274M	274M	274M	381M	383M
Retained Earnings	139M	303M	348M	268M	250M
Comprehensive Income and Other	10M	-3M	1M	5M	5M
Total Common Equity	426M	577M	626M	657M	641M
Total Equity	426M	577M	626M	657M	641M
Total Liabilities And Equity	517M	756M	767M	738M	739M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	26.18M	26.18M	26.18M	26.49M	26.49M
ECS Total Common Shares Outstanding	26.18M	26.18M	26.18M	26.49M	26.49M
Book Value / Share	16.27	22.04	23.91	24.8	24.2
Tangible Book Value	371M	521M	554M	586M	572M
Tangible Book Value Per Share	14.17	19.9	21.16	22.12	21.59
Total Debt	11M	7M	17M	14M	12M
Net Debt	-261M	-443M	-516M	-394M	-370M
Debt Equivalent Oper. Leases	-	-	-	-	-
Equity Method Investments, Total	-	-	-	80M	74M
Account Code - Inventory Valuation	5	5	5	5	5
Full Time Employees	61	78	100	105	105
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	1M	1M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	129M	255M	175M	64M	141M
Depreciation & Amortization - CF	6M	7M	10M	11M	12M
Amortization of Goodwill and Intangible Assets - (CF)	6M	5M	7M	7M	8M
Depreciation & Amortization, Total	12M	12M	17M	18M	20M
Stock-Based Compensation (CF)	-	-	-	-	-
Other Operating Activities, Total	19M	27M	-6M	-78M	22M
Change In Accounts Receivable	-63M	-58M	100M	11M	-56M
Change In Inventories	-1M	-6M	4M	2M	-4M
Change in Other Net Operating Assets	20M	47M	-54M	-6M	19M
Cash from Operations	116M	277M	236M	11M	142M
Capital Expenditure	-10M	-4M	-6M	-2M	-4M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Sale (Purchase) of Intangible assets	-5M	-6M	-15M	-7M	-6M
Investment in Marketable and Equity Securities, Total	-	-	-	-80M	-
Other Investing Activities, Total	-	-1M	-1M	-	-
Cash from Investing	-15M	-11M	-22M	-89M	-10M
Long-Term Debt Repaid, Total	-4M	-3M	-5M	-5M	-6M
Total Debt Repaid	-4M	-3M	-5M	-5M	-6M
Issuance of Common Stock	52M	-	-	103M	-
Repurchase of Common Stock	-3M	-	-	-	-
Common Dividends Paid	-79M	-92M	-131M	-144M	-159M
Common & Preferred Stock Dividends Paid	-79M	-92M	-131M	-144M	-159M
Other Financing Activities, Total	19M	-	-	4M	3M
Cash from Financing	-15M	-95M	-136M	-42M	-162M
Foreign Exchange Rate Adjustments	-4M	6M	4M	-4M	4M
Miscellaneous Cash Flow Adjustments	-1M	1M	-	-	-
Net Change in Cash	81M	178M	82M	-124M	-26M
Supplemental Items
Cash Interest Paid	-	-	-	-	-
Cash Income Tax Paid (Refund)	19M	42M	56M	98M	21M
Levered Free Cash Flow	57.45M	235M	192M	-24.02M	100M
Unlevered Free Cash Flow	58.08M	235M	193M	-23.4M	101M
Change In Net Working Capital	46M	-35M	-41M	85M	18M
Net Debt Issued / Repaid	-4M	-3M	-5M	-5M	-6M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	24.85	31.03	20.44	6.98	14.73
Return on Total Capital	29.08	38.69	25.37	7.99	16.43
Return On Equity %	35.64	50.85	29.09	9.98	21.73
Return on Common Equity	35.64	50.85	29.09	9.98	21.73
Margin Analysis
Gross Profit Margin %	72.88	73.19	72.11	70.87	72.46
SG&A Margin	21.1	17.27	23.45	37.25	28.36
EBITDA Margin %	49.32	53.45	46.36	27.17	38.92
EBITA Margin %	48.49	52.8	45.47	25.49	37.68
EBIT Margin %	46.85	51.97	44.23	23.53	36.02
Income From Continuing Operations Margin %	35.34	41.94	31.08	17.93	29.19
Net Income Margin %	35.34	41.94	31.08	17.93	29.19
Net Avail. For Common Margin %	35.34	41.94	31.08	17.93	29.19
Normalized Net Income Margin	28.08	33.82	25.53	12.43	23.42
Levered Free Cash Flow Margin	15.74	38.62	34.14	-6.73	20.73
Unlevered Free Cash Flow Margin	15.91	38.62	34.25	-6.55	20.86
Asset Turnover
Asset Turnover	0.85	0.96	0.74	0.47	0.65
Fixed Assets Turnover	29.2	29.66	22.52	12.75	21
Receivables Turnover (Average Receivables)	3.26	3.55	3.6	3.48	3.85
Inventory Turnover (Average Inventory)	39.6	25.08	19.62	20.8	22.17
Short Term Liquidity
Current Ratio	5.71	3.91	5.67	10.04	7.37
Quick Ratio	5.66	3.84	5.59	9.89	7.22
Operating Cash Flow to Current Liabilities	1.51	1.59	2.02	0.2	1.82
Days Sales Outstanding (Average Receivables)	112.31	102.96	101.46	104.8	95.1
Days Outstanding Inventory (Average Inventory)	9.24	14.56	18.6	17.55	16.51
Average Days Payable Outstanding	107.97	110.57	118.09	105.56	100.18
Cash Conversion Cycle (Average Days)	13.58	6.94	1.97	16.78	11.43
Long Term Solvency
Total Debt/Equity	2.58	1.21	2.72	2.13	1.87
Total Debt / Total Capital	2.52	1.2	2.64	2.09	1.84
LT Debt/Equity	1.88	0.69	1.92	1.37	0.94
Long-Term Debt / Total Capital	1.83	0.68	1.87	1.34	0.92
Total Liabilities / Total Assets	17.6	23.68	18.38	10.98	13.26
EBIT / Interest Expense	171	-	249	84	174
EBITDA / Interest Expense	183	-	266	102	194
(EBITDA - Capex) / Interest Expense	173	-	260	100	190
Total Debt / EBITDA	0.06	0.02	0.06	0.14	0.06
Net Debt / EBITDA	-1.43	-1.35	-1.94	-3.86	-1.91
Total Debt / (EBITDA - Capex)	0.06	0.02	0.07	0.14	0.06
Net Debt / (EBITDA - Capex)	-1.51	-1.37	-1.98	-3.94	-1.95
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	36.19	66.58	-7.4	-36.59	35.29
Gross Profit, 1 Yr. Growth %	33.67	67.29	-8.76	-37.68	38.34
EBITDA, 1 Yr. Growth %	46.34	80.56	-19.69	-62.84	93.81
EBITA, 1 Yr. Growth %	46.28	81.36	-20.25	-64.45	100
EBIT, 1 Yr. Growth %	44.92	84.8	-21.2	-66.27	107.14
Earnings From Cont. Operations, 1 Yr. Growth %	51.76	97.67	-31.37	-63.43	120.31
Net Income, 1 Yr. Growth %	51.76	97.67	-31.37	-63.43	120.31
Normalized Net Income, 1 Yr. Growth %	50.46	100.61	-30.09	-69.13	154.93
Diluted EPS Before Extra, 1 Yr. Growth %	50.3	95.54	-31.22	-63.5	119.83
Accounts Receivable, 1 Yr. Growth %	73.17	41.55	-44.28	-16.96	69.89
Inventory, 1 Yr. Growth %	50	233.33	-40	-33.33	100
Net Property, Plant and Equip., 1 Yr. Growth %	633.33	-13.64	63.16	-19.35	-16
Total Assets, 1 Yr. Growth %	50.73	46.23	1.46	-3.78	0.14
Tangible Book Value, 1 Yr. Growth %	53.31	40.43	6.33	5.78	-2.39
Common Equity, 1 Yr. Growth %	42.95	35.45	8.49	4.95	-2.44
Cash From Operations, 1 Yr. Growth %	84.13	138.79	-14.8	-95.34	1.19K
Capital Expenditures, 1 Yr. Growth %	900	-60	50	-66.67	100
Levered Free Cash Flow, 1 Yr. Growth %	6.37K	308.7	-18.14	-112.5	-515.03
Unlevered Free Cash Flow, 1 Yr. Growth %	6.44K	304.3	-17.88	-112.14	-528.72
Dividend Per Share, 1 Yr. Growth %	16.67	42.86	10	9.09	8.33
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	37.69	50.62	24.2	-23.37	-7.38
Gross Profit, 2 Yr. CAGR %	36.78	49.54	23.54	-24.6	-7.15
EBITDA, 2 Yr. CAGR %	47.48	62.55	20.42	-45.37	-15.13
EBITA, 2 Yr. CAGR %	47.27	62.88	20.26	-46.76	-15.68
EBIT, 2 Yr. CAGR %	45.19	63.64	20.67	-48.44	-16.41
Earnings From Cont. Operations, 2 Yr. CAGR %	51.24	73.21	16.47	-49.9	-10.24
Net Income, 2 Yr. CAGR %	51.24	73.21	16.47	-49.9	-10.24
Normalized Net Income, 2 Yr. CAGR %	45	73.73	18.42	-53.55	-11.29
Diluted EPS Before Extra, 2 Yr. CAGR %	49.36	71.44	15.97	-49.9	-10.42
Accounts Receivable, 2 Yr. CAGR %	60.31	56.56	-11.19	-31.98	18.77
Inventory, 2 Yr. CAGR %	27.52	123.61	41.42	-36.75	15.47
Net Property, Plant and Equip., 2 Yr. CAGR %	142.93	151.66	18.71	14.71	-17.69
Total Assets, 2 Yr. CAGR %	27.23	48.46	21.8	-1.2	-1.84
Tangible Book Value, 2 Yr. CAGR %	18.42	46.73	22.2	6.05	1.61
Common Equity, 2 Yr. CAGR %	24.32	39.15	21.22	6.71	1.19
Cash From Operations, 2 Yr. CAGR %	29.58	109.69	42.64	-80.07	-22.43
Capital Expenditures, 2 Yr. CAGR %	112.43	100	-22.54	-29.29	-18.35
Levered Free Cash Flow, 2 Yr. CAGR %	6.82	1.53K	82.91	-68.01	-27.82
Unlevered Free Cash Flow, 2 Yr. CAGR %	7.39	1.53K	82.22	-68.43	-27.72
Dividend Per Share, 2 Yr. CAGR %	18.32	29.1	25.36	9.54	8.71
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	42.7	46.71	28.07	-0.74	-7.39
Gross Profit, 3 Yr. CAGR %	41.81	46.27	26.83	-1.66	-7.69
EBITDA, 3 Yr. CAGR %	67.1	57.77	28.5	-18.62	-16.68
EBITA, 3 Yr. CAGR %	67.55	57.86	28.38	-19.89	-17.23
EBIT, 3 Yr. CAGR %	65.9	57.34	28.26	-21.1	-18.04
Earnings From Cont. Operations, 3 Yr. CAGR %	101.3	65.36	27.22	-20.84	-17.92
Net Income, 3 Yr. CAGR %	101.3	65.36	27.22	-20.84	-17.92
Normalized Net Income, 3 Yr. CAGR %	64.19	61.57	28.26	-24.35	-18.06
Diluted EPS Before Extra, 3 Yr. CAGR %	97.49	63.39	26.44	-21.12	-17.98
Accounts Receivable, 3 Yr. CAGR %	56.46	53.79	10.95	-13.16	-7.71
Inventory, 3 Yr. CAGR %	44.22	75.66	44.22	10.06	-7.17
Net Property, Plant and Equip., 3 Yr. CAGR %	102.13	72.09	117.81	4.35	3.39
Total Assets, 3 Yr. CAGR %	28.76	33.27	30.77	12.6	-0.76
Tangible Book Value, 3 Yr. CAGR %	20.22	25.34	31.79	16.46	3.16
Common Equity, 3 Yr. CAGR %	24.53	27.92	28.07	15.54	3.57
Cash From Operations, 3 Yr. CAGR %	118.39	58.87	55.31	-54.4	-19.97
Capital Expenditures, 3 Yr. CAGR %	106.78	21.76	81.71	-41.52	0
Levered Free Cash Flow, 3 Yr. CAGR %	87.09	67.07	500.41	-25.22	-24.73
Unlevered Free Cash Flow, 3 Yr. CAGR %	87.61	67.06	501.06	-26.14	-24.58
Dividend Per Share, 3 Yr. CAGR %	-	25.99	22.39	19.68	9.14
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	49.09	47.66	34.99	13.14	12.5
Gross Profit, 5 Yr. CAGR %	50.44	48.45	34.2	12.22	11.95
EBITDA, 5 Yr. CAGR %	128.29	79.74	46.58	3.23	8.86
EBITA, 5 Yr. CAGR %	132.61	80.79	46.74	2.2	8.51
EBIT, 5 Yr. CAGR %	132.61	80.43	46.07	0.7	8.08
Earnings From Cont. Operations, 5 Yr. CAGR %	47.02	77.92	61.73	2.56	10.65
Net Income, 5 Yr. CAGR %	47.02	77.92	61.73	2.56	10.65
Normalized Net Income, 5 Yr. CAGR %	123.44	77.24	44.07	-1.86	10.68
Diluted EPS Before Extra, 5 Yr. CAGR %	40.83	71.49	59.61	1.83	10.16
Accounts Receivable, 5 Yr. CAGR %	54.99	56.58	24.74	10.97	14.02
Inventory, 5 Yr. CAGR %	30.52	71.45	43.1	16.74	31.95
Net Property, Plant and Equip., 5 Yr. CAGR %	72.7	49.92	63.37	46.32	47.58
Total Assets, 5 Yr. CAGR %	56.92	58.57	25.93	18.24	16.59
Tangible Book Value, 5 Yr. CAGR %	56.76	57.56	21.01	17.24	18.77
Common Equity, 5 Yr. CAGR %	59.28	58.7	23.2	18.97	16.55
Cash From Operations, 5 Yr. CAGR %	106.83	76.95	84.17	-30.75	17.65
Capital Expenditures, 5 Yr. CAGR %	62.23	17.3	39.62	-2.03	31.95
Levered Free Cash Flow, 5 Yr. CAGR %	61.91	115.63	85.41	-13.76	157.29
Unlevered Free Cash Flow, 5 Yr. CAGR %	62.17	115.59	85.43	-14.21	157.61
Dividend Per Share, 5 Yr. CAGR %	-	-	-	19.14	16.72