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1. Company Snapshot

1.a. Company Description

Musti Group Oyj operates as a pet care specialist in Finland, Sweden, and Norway.The company offers a range of pet products in the food and non-food categories under own and third-party brands.It also provides various services, such as veterinary, and pet health and care; trimming, cutting, and nail surgery; grooming; and education and learning.


The company sells its products under the Musti ja Mirri, Pete's Dog Accessories, Vetzoo, Brit Care, Animail, Arken Zoo, Djurmagazinet, Musti, and Peten Koiratarvike brands.As of September 30, 2021, it operated 312 owned and franchised stores, as well as online stores.Musti Group Oyj was founded in 1988 and is headquartered in Helsinki, Finland.

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1.b. Last Insights on MUSTI

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1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (7.45%)

6. Segments

Store

Expected Growth: 7%

Musti Group Oyj's 7% store growth is driven by increasing pet humanization, rising disposable incomes, and a growing demand for premium pet food and accessories. Expanding online presence, strategic partnerships, and effective supply chain management also contribute to the growth. Additionally, the company's focus on sustainability and eco-friendly products resonates with environmentally conscious consumers, further boosting sales.

Online

Expected Growth: 9%

Musti Group Oyj's 9% online growth is driven by increasing pet owners seeking convenient, high-quality products. Key drivers include expanding product offerings, user-friendly e-commerce platforms, effective digital marketing, and strategic partnerships. Additionally, the COVID-19 pandemic has accelerated the shift to online shopping, further boosting growth.

Other

Expected Growth: 6%

Musti Group Oyj's 'Other' segment growth is driven by increasing pet humanization, rising demand for premium pet food and accessories, and expansion into new markets. Additionally, the company's strategic acquisitions, investments in e-commerce, and focus on sustainability contribute to its growth.

7. Detailed Products

Pet Food

Musti Group Oyj offers a wide range of pet food products for dogs, cats, and other small animals, including dry food, wet food, and treats.

Pet Accessories

The company provides a variety of pet accessories, such as toys, collars, leashes, and grooming tools, to enhance the pet-owner experience.

Pet Health and Wellness

Musti Group Oyj offers a range of pet health and wellness products, including supplements, vitamins, and health food, to support the overall well-being of pets.

Pet Grooming

The company provides pet grooming services, including bathing, trimming, and styling, to help pets look and feel their best.

Pet Boarding and Daycare

Musti Group Oyj offers pet boarding and daycare services, providing a safe and fun environment for pets while their owners are away.

8. Musti Group Oyj's Porter Forces

Forces Ranking

Threat Of Substitutes

Musti Group Oyj operates in the pet specialty retail industry, where substitutes are limited. However, online retailers and e-commerce platforms may pose a threat to traditional brick-and-mortar stores.

Bargaining Power Of Customers

Musti Group Oyj's customers are primarily individual pet owners, who have limited bargaining power. The company's loyalty programs and customer loyalty also reduce the bargaining power of customers.

Bargaining Power Of Suppliers

Musti Group Oyj relies on a few large suppliers for its products, giving them some bargaining power. However, the company's scale and diversification of suppliers mitigate this risk.

Threat Of New Entrants

The pet specialty retail industry has high barriers to entry, including significant capital requirements and regulatory hurdles. This limits the threat of new entrants.

Intensity Of Rivalry

The pet specialty retail industry is highly competitive, with several established players competing for market share. Musti Group Oyj must differentiate itself through its product offerings and customer service to maintain its market position.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 49.21%
Debt Cost 4.29%
Equity Weight 50.79%
Equity Cost 9.08%
WACC 6.72%
Leverage 96.88%

11. Quality Control: Musti Group Oyj passed 2 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

Stock-Card
Mears

A-Score: 6.6/10

Value: 9.0

Growth: 7.2

Quality: 4.7

Yield: 7.5

Momentum: 2.0

Volatility: 9.0

1-Year Total Return ->

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Stock-Card
XPS Pensions

A-Score: 6.5/10

Value: 3.2

Growth: 8.0

Quality: 7.7

Yield: 6.9

Momentum: 7.5

Volatility: 6.0

1-Year Total Return ->

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Stock-Card
CEWE

A-Score: 6.5/10

Value: 6.9

Growth: 5.7

Quality: 7.5

Yield: 5.0

Momentum: 4.0

Volatility: 9.7

1-Year Total Return ->

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Stock-Card
KABE

A-Score: 4.6/10

Value: 6.4

Growth: 4.0

Quality: 4.2

Yield: 5.0

Momentum: 0.5

Volatility: 7.7

1-Year Total Return ->

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Stock-Card
CVS

A-Score: 3.9/10

Value: 2.5

Growth: 5.0

Quality: 3.8

Yield: 0.6

Momentum: 7.5

Volatility: 4.0

1-Year Total Return ->

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Stock-Card
Musti

A-Score: 2.8/10

Value: 3.0

Growth: 3.4

Quality: 2.1

Yield: 0.0

Momentum: 1.5

Volatility: 7.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

18.3$

Current Price

18.3$

Potential

-0.00%

Expected Cash-Flows