Added to YB: 2023-04-05
Pitch date: 2023-04-05
MIPS.ST [bullish]
Mips AB (publ)
-18.53%
current return
Author Info
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Company Info
Mips AB (publ) develops, manufactures, and sells helmet-based safety systems in North America, Europe, Sweden, Asia, and Australia.
Market Cap
SEK 9.8B
Pitch Price
SEK 498.60
Price Target
N/A
Dividend
0.68%
EV/EBITDA
38.45
P/E
59.24
EV/Sales
14.94
Sector
Leisure Products
Category
growth
MIPS AB – Helmet Safety Monopoly with No Worthy Rivals
MIPS.ST: Pioneer & leader in helmet safety w/ 91 of top 100 helmets MIPS-equipped. 49% rev, 62% EPS, 39% FCF/sh CAGR since '14. 70%+ GM & 38%+ EBIT margin show pricing power. Ingredient brand model enables rapid, capital-light scale via 200+ helmet brands. SEK 2B sales & 50% EBIT margin 2027 goals target motorcycles & industrial markets beyond core bike/snow. 55x P/E & 70x P/FCF undervalued on quality, growth & dominance vs WaveCel. 300+ patents & testing lead provide moat. Base case SEK 561/sh on DCF.
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