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1. Company Snapshot

1.a. Company Description

Macfarlane Group PLC, through its subsidiaries, designs, manufactures, and distributes protective packaging products to businesses.The company operates through Packaging Distribution and Manufacturing Operations segments.The Packaging Distribution segment distributes packaging materials; and supplies storage and warehousing services in the United Kingdom, Ireland, and Europe.


The Manufacturing Operations segment designs, manufactures, and assembles timber, corrugated, and foam-based packaging materials in the United Kingdom.The company also distributes and supplies packaging equipment; and recovers waste papers and corrugated boards for recycling.In addition, it serves e-commerce retail, logistics, medical, automotive, aerospace, electronics, high street retail, household essentials, and food and hospitality industries.


The company was incorporated in 1899 and is headquartered in Glasgow, the United Kingdom.

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1.b. Last Insights on MACF

Macaflane's recent performance faced headwinds from a challenging market environment. The UK market experienced turbulence due to weak trade data from China, impacting the FTSE 100 index. As a dividend stock, Macfarlane Group offered a relatively stable income stream, with a dividend yield that made it an attractive option for investors seeking reliable returns. However, its estimated fair value was recently pegged at UK£0.65, based on a 2-stage free cash flow to equity model. Additionally, the company declared a dividend of £0.0096.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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The one-year loss for Macfarlane Group (LON:MACF) shareholders likely driven by its shrinking earnings

Nov -28

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (2.63%)

6. Segments

Packaging Distribution

Expected Growth: 2.5%

Macfarlane Group PLC's Packaging Distribution segment growth of 2.5% is driven by increasing demand for e-commerce packaging, growth in online shopping, and rising need for sustainable packaging solutions. Additionally, the company's strategic acquisitions and investments in digitalization and automation are enhancing operational efficiency, contributing to the segment's growth.

Manufacturing

Expected Growth: 3.5%

Macfarlane Group PLC's 3.5% growth in manufacturing is driven by increasing demand for protective packaging, expansion into e-commerce and retail markets, and strategic acquisitions. Additionally, investments in operational efficiency and cost savings initiatives have contributed to the growth. The company's focus on sustainability and innovative products has also enhanced its competitive position, supporting revenue growth.

7. Detailed Products

Packaging Distribution

Macfarlane Group PLC provides a comprehensive range of packaging materials and supplies to businesses across the UK and Ireland.

Packaging Manufacturing

The company designs and manufactures bespoke packaging solutions for customers across various industries.

Labeling and Print

Macfarlane offers a range of labeling and printing services, including label production, barcode printing, and RFID solutions.

Facilities Management

The company provides facilities management services, including warehouse management, inventory control, and logistics support.

Dangerous Goods Logistics

Macfarlane specializes in the safe transportation and storage of hazardous goods, ensuring compliance with regulations.

8. Macfarlane Group PLC's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Macfarlane Group PLC is moderate, as there are some alternatives available in the market, but they are not very attractive to customers.

Bargaining Power Of Customers

The bargaining power of customers is low, as Macfarlane Group PLC has a diverse customer base and no single customer accounts for a significant portion of its revenue.

Bargaining Power Of Suppliers

The bargaining power of suppliers is moderate, as Macfarlane Group PLC relies on a few large suppliers for its raw materials, but it also has some alternative sources.

Threat Of New Entrants

The threat of new entrants is low, as Macfarlane Group PLC has a strong brand presence and it would be difficult for new entrants to replicate its business model.

Intensity Of Rivalry

The intensity of rivalry is high, as Macfarlane Group PLC operates in a highly competitive industry with many established players.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 27.44%
Debt Cost 7.18%
Equity Weight 72.56%
Equity Cost 7.40%
WACC 7.34%
Leverage 37.83%

11. Quality Control: Macfarlane Group PLC 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

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Guillin

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Growth: 4.7

Quality: 5.1

Yield: 7.5

Momentum: 5.0

Volatility: 7.7

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Macfarlane

A-Score: 5.3/10

Value: 8.7

Growth: 5.0

Quality: 4.9

Yield: 7.5

Momentum: 1.5

Volatility: 4.0

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A-Score: 5.1/10

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Growth: 5.1

Quality: 4.3

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Momentum: 1.0

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Growth: 1.8

Quality: 3.7

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A-Score: 4.0/10

Value: 7.8

Growth: 4.6

Quality: 3.5

Yield: 4.4

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Volatility: 3.7

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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

0.7$

Current Price

0.7$

Potential

-0.00%

Expected Cash-Flows