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MiX Telematics Limited (MIXT) Stock Fundamental Analysis

NYSE:MIXT - New York Stock Exchange, Inc. - US60688N1028 - ADR - Currency: USD

14.55  +0.35 (+2.46%)

After market: 14.01 -0.54 (-3.71%)

Fundamental Rating

5

MIXT gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 283 industry peers in the Software industry. Both the profitability and the financial health of MIXT get a neutral evaluation. Nothing too spectacular is happening here. MIXT is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

MIXT had positive earnings in the past year.
MIXT had a positive operating cash flow in the past year.
In the past 5 years MIXT has always been profitable.
MIXT had a positive operating cash flow in each of the past 5 years.
MIXT Yearly Net Income VS EBIT VS OCF VS FCFMIXT Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M 400M 600M

1.2 Ratios

Looking at the Return On Assets, with a value of 3.36%, MIXT is in the better half of the industry, outperforming 76.98% of the companies in the same industry.
With a decent Return On Equity value of 5.62%, MIXT is doing good in the industry, outperforming 77.34% of the companies in the same industry.
MIXT has a better Return On Invested Capital (8.50%) than 86.33% of its industry peers.
MIXT had an Average Return On Invested Capital over the past 3 years of 8.58%. This is below the industry average of 12.21%.
Industry RankSector Rank
ROA 3.36%
ROE 5.62%
ROIC 8.5%
ROA(3y)5.47%
ROA(5y)6.07%
ROE(3y)7.8%
ROE(5y)8.59%
ROIC(3y)8.58%
ROIC(5y)10.13%
MIXT Yearly ROA, ROE, ROICMIXT Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2 4 6 8 10

1.3 Margins

The Profit Margin of MIXT (4.24%) is better than 75.54% of its industry peers.
In the last couple of years the Profit Margin of MIXT has declined.
Looking at the Operating Margin, with a value of 10.69%, MIXT belongs to the top of the industry, outperforming 82.73% of the companies in the same industry.
In the last couple of years the Operating Margin of MIXT has declined.
With a Gross Margin value of 62.07%, MIXT perfoms like the industry average, outperforming 44.96% of the companies in the same industry.
MIXT's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 10.69%
PM (TTM) 4.24%
GM 62.07%
OM growth 3Y-16.45%
OM growth 5Y-7.5%
PM growth 3Y-23.43%
PM growth 5Y-22.15%
GM growth 3Y-0.52%
GM growth 5Y-1.16%
MIXT Yearly Profit, Operating, Gross MarginsMIXT Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 20 40 60

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5

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so MIXT is destroying value.
Compared to 1 year ago, MIXT has more shares outstanding
MIXT has less shares outstanding than it did 5 years ago.
The debt/assets ratio for MIXT is higher compared to a year ago.
MIXT Yearly Shares OutstandingMIXT Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M
MIXT Yearly Total Debt VS Total AssetsMIXT Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B

2.2 Solvency

MIXT has an Altman-Z score of 4.37. This indicates that MIXT is financially healthy and has little risk of bankruptcy at the moment.
MIXT's Altman-Z score of 4.37 is fine compared to the rest of the industry. MIXT outperforms 66.19% of its industry peers.
MIXT has a debt to FCF ratio of 1.93. This is a very positive value and a sign of high solvency as it would only need 1.93 years to pay back of all of its debts.
MIXT has a better Debt to FCF ratio (1.93) than 71.94% of its industry peers.
A Debt/Equity ratio of 0.18 indicates that MIXT is not too dependend on debt financing.
MIXT has a Debt to Equity ratio (0.18) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.18
Debt/FCF 1.93
Altman-Z 4.37
ROIC/WACC0.52
WACC16.28%
MIXT Yearly LT Debt VS Equity VS FCFMIXT Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 500M 1B 1.5B 2B

2.3 Liquidity

A Current Ratio of 1.23 indicates that MIXT should not have too much problems paying its short term obligations.
MIXT has a Current ratio of 1.23. This is in the lower half of the industry: MIXT underperforms 66.91% of its industry peers.
A Quick Ratio of 1.15 indicates that MIXT should not have too much problems paying its short term obligations.
MIXT has a worse Quick ratio (1.15) than 69.42% of its industry peers.
Industry RankSector Rank
Current Ratio 1.23
Quick Ratio 1.15
MIXT Yearly Current Assets VS Current LiabilitesMIXT Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B

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5

3. Growth

3.1 Past

MIXT shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 99.74%, which is quite impressive.
Measured over the past years, MIXT shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -15.75% on average per year.
MIXT shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 19.83%.
MIXT shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.54% yearly.
EPS 1Y (TTM)99.74%
EPS 3Y-19.35%
EPS 5Y-15.75%
EPS Q2Q%37078.2%
Revenue 1Y (TTM)19.83%
Revenue growth 3Y4.6%
Revenue growth 5Y7.54%
Sales Q2Q%20.74%

3.2 Future

Based on estimates for the next years, MIXT will show a very strong growth in Earnings Per Share. The EPS will grow by 44.23% on average per year.
Based on estimates for the next years, MIXT will show a small growth in Revenue. The Revenue will grow by 7.48% on average per year.
EPS Next Y3900%
EPS Next 2Y681.02%
EPS Next 3Y44.23%
EPS Next 5YN/A
Revenue Next Year6.02%
Revenue Next 2Y6.28%
Revenue Next 3Y7.48%
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
MIXT Yearly Revenue VS EstimatesMIXT Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 500M 1B 1.5B 2B
MIXT Yearly EPS VS EstimatesMIXT Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2021 2022 2023 2024 2025 2026 5 10 15

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6

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 51.96 indicates a quite expensive valuation of MIXT.
65.47% of the companies in the same industry are more expensive than MIXT, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 26.70, MIXT is valued quite expensively.
A Price/Forward Earnings ratio of 17.56 indicates a rather expensive valuation of MIXT.
Compared to the rest of the industry, the Price/Forward Earnings ratio of MIXT indicates a rather cheap valuation: MIXT is cheaper than 87.05% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.49, MIXT is valued a bit cheaper.
Industry RankSector Rank
PE 51.96
Fwd PE 17.56
MIXT Price Earnings VS Forward Price EarningsMIXT Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of MIXT indicates a rather cheap valuation: MIXT is cheaper than 94.24% of the companies listed in the same industry.
MIXT's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. MIXT is cheaper than 78.78% of the companies in the same industry.
Industry RankSector Rank
P/FCF 29.81
EV/EBITDA 9.39
MIXT Per share dataMIXT EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
MIXT has a very decent profitability rating, which may justify a higher PE ratio.
MIXT's earnings are expected to grow with 44.23% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.01
PEG (5Y)N/A
EPS Next 2Y681.02%
EPS Next 3Y44.23%

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0

5. Dividend

5.1 Amount

No dividends for MIXT!.
Industry RankSector Rank
Dividend Yield N/A

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MiX Telematics Limited

NYSE:MIXT (3/25/2024, 8:04:00 PM)

After market: 14.01 -0.54 (-3.71%)

14.55

+0.35 (+2.46%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)02-01 2024-02-01/dmh
Earnings (Next)05-20 2024-05-20/amc
Inst Owners2.19%
Inst Owner Change0%
Ins Owners167.75%
Ins Owner Change0%
Market Cap322.44M
Analysts84
Price TargetN/A
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP82.22%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)14471.8%
Min EPS beat(2)7222.42%
Max EPS beat(2)21721.1%
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)N/A
PT rev (3m)N/A
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)-4.76%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)3.77%
Valuation
Industry RankSector Rank
PE 51.96
Fwd PE 17.56
P/S 2.22
P/FCF 29.81
P/OCF 9.44
P/B 2.95
P/tB 7.18
EV/EBITDA 9.39
EPS(TTM)0.28
EY1.92%
EPS(NY)0.83
Fwd EY5.69%
FCF(TTM)0.49
FCFY3.35%
OCF(TTM)1.54
OCFY10.59%
SpS6.55
BVpS4.94
TBVpS2.03
PEG (NY)0.01
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 3.36%
ROE 5.62%
ROCE 12.22%
ROIC 8.5%
ROICexc 10.73%
ROICexgc 24.7%
OM 10.69%
PM (TTM) 4.24%
GM 62.07%
FCFM 7.45%
ROA(3y)5.47%
ROA(5y)6.07%
ROE(3y)7.8%
ROE(5y)8.59%
ROIC(3y)8.58%
ROIC(5y)10.13%
ROICexc(3y)11.63%
ROICexc(5y)13.01%
ROICexgc(3y)32.14%
ROICexgc(5y)33.75%
ROCE(3y)11.36%
ROCE(5y)13.24%
ROICexcg growth 3Y-13.3%
ROICexcg growth 5Y-14.28%
ROICexc growth 3Y-15.31%
ROICexc growth 5Y-9.06%
OM growth 3Y-16.45%
OM growth 5Y-7.5%
PM growth 3Y-23.43%
PM growth 5Y-22.15%
GM growth 3Y-0.52%
GM growth 5Y-1.16%
F-Score8
Asset Turnover0.79
Health
Industry RankSector Rank
Debt/Equity 0.18
Debt/FCF 1.93
Debt/EBITDA 0.64
Cap/Depr 145.51%
Cap/Sales 16.07%
Interest Coverage 250
Cash Conversion 108.24%
Profit Quality 175.93%
Current Ratio 1.23
Quick Ratio 1.15
Altman-Z 4.37
F-Score8
WACC16.28%
ROIC/WACC0.52
Cap/Depr(3y)112.06%
Cap/Depr(5y)96.67%
Cap/Sales(3y)13.71%
Cap/Sales(5y)12.28%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)99.74%
EPS 3Y-19.35%
EPS 5Y-15.75%
EPS Q2Q%37078.2%
EPS Next Y3900%
EPS Next 2Y681.02%
EPS Next 3Y44.23%
EPS Next 5YN/A
Revenue 1Y (TTM)19.83%
Revenue growth 3Y4.6%
Revenue growth 5Y7.54%
Sales Q2Q%20.74%
Revenue Next Year6.02%
Revenue Next 2Y6.28%
Revenue Next 3Y7.48%
Revenue Next 5YN/A
EBIT growth 1Y64.01%
EBIT growth 3Y-12.61%
EBIT growth 5Y-0.53%
EBIT Next Year189.6%
EBIT Next 3Y52.81%
EBIT Next 5YN/A
FCF growth 1Y-25.45%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y38.83%
OCF growth 3Y-3.06%
OCF growth 5Y3.17%