Komax Holding AG (KOMN.SW) | Investment Case

1. Company Snapshot

1.a. Company Description

Komax Holding AG, together with its subsidiaries, engages in the automated wire processing business.The company offers electrical, rotary, and coaxial wire strippers, as well as rotary jacket strippers; wire crimpers for the semiautomatic machine; cutting and stripping machines; crimp to crimp wire processing machines for processing single conductors and double-crimp connections; wire twisting machines; and harness manufacturing machines for automatic block loading and wire harness manufacturing.It also provides wire-handling machines for preliminary wire processing; marking systems; process modules for economical production; quality tools; software solutions for automatic crimping machines; and a range of accessories.

In addition, the company offers flexible benchtop crimping platform for individual processing; flexible platform for specific customers; automated rotary table for time saving in double-sided processing; and customer-specific platforms.Further, it provides digital services; consulting and installation services comprising inspection, production analysis, feasibility testing, installation, leasing, and acceptance testing services; and technical support and maintenance services, including helpdesk, production and ramp-up support, emergency planning, relocation, repair, and service and maintenance contracting services, as well as spare and wear parts.Additionally, the company offers upgrades and calibration services, as well as online and onsite training services.

It offers its products under the Artos, Exmore, Kabatec, Laselec, Thonauer, and TSK brand names.The company serves automotive, aerospace, datacom/telecom, and industrial market segments.It operates in Switzerland, Europe, North and South America, Africa, and the Asia Pacific.

The company was founded in 1975 and is headquartered in Dierikon, Switzerland.

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1.b. Last Insights on KOMN

Have nothing to say about that one ...

1.c. Company Highlights

Last Price	63.1
Change Percentage	1.12%
Open	62.4
Previous Close	62.4
Market Cap ( Millions)	323
Volume	16813
Year High	138
Year Low	57.1
M A 50	64.7
M A 200	92.46

FCF Yield	8.98%
Dividend Yield	0.00%
ROE	-2.31%
Debt / Equity	49.43%
Net Debt / EBIDTA	420.18%
Price To Book	1.25
Price Earnings Ratio	-53.09
Price To FCF	11.14
Price To sales	0.73
EV / EBITDA	17.61

2. Transcript Summary

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3. NewsRoom

Individual investors account for 54% of Komax Holding AG's (VTX:KOMN) ownership, while public companies account for 25%

Oct -08

Source:

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.00%)

6. Segments

Automated Wire Processing

Expected Growth: 4.0%

The 4.0% growth of Automated Wire Processing from Komax Holding AG is driven by increasing demand for electric vehicles, rising adoption of Industry 4.0 technologies, and growing need for efficient wire processing solutions in the automotive and industrial sectors.

7. Detailed Products

Wire Processing Machines

Komax Holding AG offers a range of wire processing machines that are designed to cut, strip, and crimp wires for various industries such as automotive, aerospace, and industrial manufacturing.

Wire Strippers

Komax Holding AG provides a variety of wire strippers that are designed to remove insulation from electrical wires, ensuring precise and efficient wire processing.

Crimping Machines

Komax Holding AG offers a range of crimping machines that are designed to connect wires to terminals, ensuring reliable and efficient electrical connections.

Wire Cutting Machines

Komax Holding AG provides wire cutting machines that are designed to cut wires to precise lengths, ensuring efficient wire processing.

Quality Control Systems

Komax Holding AG offers quality control systems that are designed to inspect and test electrical connections, ensuring reliable and efficient wire processing.

Automation Solutions

Komax Holding AG provides automation solutions that are designed to streamline wire processing, improving efficiency and reducing costs.

8. Komax Holding AG's Porter Forces

Forces Ranking

Threat Of Substitutes

Komax Holding AG operates in a niche market with limited substitutes, reducing the threat of substitutes.

Bargaining Power Of Customers

Komax Holding AG has a diverse customer base, reducing the bargaining power of individual customers.

Bargaining Power Of Suppliers

Komax Holding AG relies on a few key suppliers, giving them some bargaining power, but the company's size and reputation mitigate this threat.

Threat Of New Entrants

The capital requirements and technical expertise needed to enter Komax Holding AG's market make it difficult for new entrants to join.

Intensity Of Rivalry

Komax Holding AG operates in a competitive market with several established players, leading to a high intensity of rivalry.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	30.22%
Debt Cost	4.26%
Equity Weight	69.78%
Equity Cost	7.51%
WACC	6.53%
Leverage	43.31%

11. Quality Control: Komax Holding AG passed 6 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Semperit

A-Score: 5.3/10

Value: 8.6

Growth: 2.2

Quality: 2.9

Yield: 7.5

Momentum: 6.0

Volatility: 4.3

1-Year Total Return ->

2G Energy

A-Score: 5.0/10

Value: 2.8

Growth: 8.1

Quality: 6.9

Yield: 1.9

Momentum: 8.5

Volatility: 2.0

1-Year Total Return ->

Beijer Alma

A-Score: 4.7/10

Value: 2.4

Growth: 5.4

Quality: 5.3

Yield: 2.5

Momentum: 8.0

Volatility: 4.7

1-Year Total Return ->

Oerlikon

A-Score: 4.5/10

Value: 7.7

Growth: 2.7

Quality: 1.9

Yield: 9.4

Momentum: 1.0

Volatility: 4.3

1-Year Total Return ->

Electrolux Professional

A-Score: 4.2/10

Value: 4.0

Growth: 4.7

Quality: 5.7

Yield: 1.9

Momentum: 3.5

Volatility: 5.3

1-Year Total Return ->

Komax

A-Score: 2.7/10

Value: 6.3

Growth: 2.9

Quality: 2.6

Yield: 1.2

Momentum: 0.0

Volatility: 3.0

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-6.85%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

6.53%

Komax Holding AG - CH0010702154

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on KOMN

Have nothing to say about that one ...

1.c. Company Highlights

Weak Momentum

Fairly Valued

Medium Volatility

Average Yield

Lower Quality

Revenues Beats

Average Quality

Lower Growth

Revenues Miss

Stable Momentum

Lower Yield

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.00%)

6. Segments

Automated Wire Processing

Expected Growth: 4.0%

7. Detailed Products

Wire Processing Machines

Wire Strippers

Crimping Machines

Wire Cutting Machines

Quality Control Systems

Automation Solutions

8. Komax Holding AG's Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: Komax Holding AG passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

63.1$

Current Price

63.1$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA