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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

Overall MIXT gets a fundamental rating of 5 out of 10. We evaluated MIXT against 283 industry peers in the Software industry. MIXT has an average financial health and profitability rating. MIXT has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

MIXT had positive earnings in the past year.
In the past year MIXT had a positive cash flow from operations.
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

The Return On Assets of MIXT (3.36%) is better than 76.98% of its industry peers.
MIXT has a better Return On Equity (5.62%) than 77.34% of its industry peers.
MIXT has a Return On Invested Capital of 8.50%. This is amongst the best in the industry. MIXT outperforms 86.33% of its industry peers.
The Average Return On Invested Capital over the past 3 years for MIXT is below the industry average of 12.00%.
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

MIXT has a better Profit Margin (4.24%) than 75.54% of its industry peers.
In the last couple of years the Profit Margin of MIXT has declined.
MIXT's Operating Margin of 10.69% is amongst the best of the industry. MIXT outperforms 82.73% of its industry peers.
MIXT's Operating Margin has declined in the last couple of years.
MIXT has a Gross Margin (62.07%) which is in line with its industry peers.
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.
The number of shares outstanding for MIXT has been increased compared to 1 year ago.
The number of shares outstanding for MIXT has been reduced compared to 5 years ago.
Compared to 1 year ago, MIXT has a worse debt to assets ratio.
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.
Looking at the Altman-Z score, with a value of 4.37, MIXT is in the better half of the industry, outperforming 66.19% of the companies in the same industry.
The Debt to FCF ratio of MIXT is 1.93, which is an excellent value as it means it would take MIXT, only 1.93 years of fcf income to pay off all of its debts.
MIXT's Debt to FCF ratio of 1.93 is fine compared to the rest of the industry. MIXT outperforms 71.94% of its industry peers.
MIXT has a Debt/Equity ratio of 0.18. This is a healthy value indicating a solid balance between debt and equity.
The Debt to Equity ratio of MIXT (0.18) is comparable to the rest of the industry.
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.
The Current ratio of MIXT (1.23) is worse than 66.91% of its industry peers.
MIXT has a Quick Ratio of 1.15. This is a normal value and indicates that MIXT is financially healthy and should not expect problems in meeting its short term obligations.
With a Quick ratio value of 1.15, MIXT is not doing good in the industry: 69.42% of the companies in the same industry are doing better.
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

The Earnings Per Share has grown by an impressive 99.74% over the past year.
The earnings per share for MIXT have been decreasing by -15.75% on average. This is quite bad
MIXT shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 19.83%.
The Revenue has been growing slightly by 7.54% on average over the past years.
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

MIXT is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 44.23% yearly.
MIXT is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.48% yearly.
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.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
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

Based on the Price/Earnings ratio of 51.96, the valuation of MIXT can be described as expensive.
Compared to the rest of the industry, the Price/Earnings ratio of MIXT indicates a somewhat cheap valuation: MIXT is cheaper than 65.47% of the companies listed in the same industry.
MIXT's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 26.85.
The Price/Forward Earnings ratio is 17.56, which indicates a rather expensive current valuation of MIXT.
Based on the Price/Forward Earnings ratio, MIXT is valued cheaply inside the industry as 87.05% of the companies are valued more expensively.
The average S&P500 Price/Forward Earnings ratio is at 34.98. MIXT is valued slightly cheaper when compared to this.
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.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of MIXT indicates a somewhat cheap valuation: MIXT is cheaper than 78.78% of the companies listed 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

MIXT's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of MIXT 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

MIXT does not give a dividend.
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%