Modulight
0.96
EUR
+1.59 %
MODU
First North Finland
Medical Equipment & Services
Health Care
2,685 following
+1.59%
-2.54%
-8.57%
-12.73%
-9.77%
-18.23%
-21.18%
-93.24%
-
-91.22%
www.modulight.com/investors
Modulight operates in the technology industry. The company designs, markets, and produces biomedical laser products used in oncology, genetics, and ophthalmology. The customers primarily consist of hospitals and corporate customers operating in medical technology. In addition to the main business, various value-added services are also offered. Their main market is the US.
P/E (adj.) (24e)
-5.31
EV/EBIT (adj.) (24e)
-3.68
EV/S (24e)
7.76
Dividend yield-% (24e)
-
Target price
0.90 EUR
Recommendation
Reduce
Updated
22.10.2024
First North Finland
MODU
Daily low / high price
0.955 / 1.04
EUR
Market cap
40.91M EUR
Turnover
11.3K EUR
Volume
11K
Business risk
Valuation risk
Current
Previous
Latest research
Extensive report
Inderes' extensive report is an investor's handbook on customer companies covered by our research.
The latest extensive report was released
Read the reportAnalyst
Antti Siltanen
Analyst
Income statement
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 10.1 | 9.1 | 4.6 | 4.0 | 3.9 | 7.7 | 10.6 | 14.4 |
| growth-% | 39.9 % | -9.8 % | -49.3 % | -12.5 % | -4.1 % | 99.6 % | 38.0 % | 35.0 % |
| EBITDA | 5.8 | 0.4 | -5.9 | -8.5 | -5.8 | -3.1 | -0.7 | 0.9 |
| EBIT (adj.) | 4.7 | -0.8 | -7.8 | -12.1 | -8.1 | -6.3 | -3.8 | -2.0 |
| EBIT | 4.7 | -0.8 | -7.8 | -12.1 | -8.1 | -6.3 | -3.8 | -2.0 |
| Profit before taxes | 4.6 | -5.1 | -8.6 | -11.8 | -7.7 | -5.1 | -3.3 | -2.1 |
| Net income | 3.7 | -5.1 | -8.6 | -11.8 | -7.7 | -5.1 | -3.3 | -2.1 |
| EPS (adj.) | 0.12 | -0.12 | -0.20 | -0.28 | -0.18 | -0.12 | -0.08 | -0.05 |
| growth-% | -98.9 % | -197.8 % | ||||||
| Dividend | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Dividend ratio |
Profitability and return on capital
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| EBITDA-% | 57.8 % | 4.9 % | -129.0 % | -212.0 % | -149.9 % | -40.2 % | -6.9 % | 6.1 % |
| EBIT-% (adj.) | 46.8 % | -8.3 % | -169.5 % | -301.4 % | -210.9 % | -81.7 % | -36.0 % | -14.1 % |
| EBIT-% | 46.8 % | -8.3 % | -169.5 % | -301.4 % | -210.9 % | -81.7 % | -36.0 % | -14.1 % |
| ROE | 46.7 % | -11.8 % | -11.9 % | -19.1 % | -14.9 % | -11.2 % | -8.1 % | -5.5 % |
| ROI | 35.0 % | -1.5 % | -9.6 % | -17.6 % | -13.9 % | -12.0 % | -7.9 % | -4.5 % |
Valuation
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Share price (EUR) | 11.35 | 2.95 | 0.90 | 0.96 | 0.96 | 0.96 | 0.96 | |
| Shares | 30.7 | 42.6 | 42.6 | 42.6 | 42.6 | 42.6 | 42.6 | 42.6 |
| Market cap | 483.7 | 125.7 | 38.4 | 40.9 | 40.9 | 40.9 | 40.9 | |
| Enterprise value | 430.3 | 90.1 | 19.8 | 30.0 | 34.9 | 38.4 | 39.9 | |
| EV/S | - | 47.4 | 19.6 | 4.9 | 7.8 | 4.5 | 3.6 | 2.8 |
| EV/EBITDA | - | 962.6 | - | - | - | - | - | 45.8 |
| EV/EBIT (adj.) | - | - | - | - | - | - | - | - |
| EV/EBIT | - | - | - | - | - | - | - | - |
| P/E (adj.) | - | - | - | - | - | - | - | - |
| P/E | - | - | - | - | - | - | - | - |
| P/B | - | 6.4 | 1.9 | 0.7 | 0.9 | 1.0 | 1.0 | 1.1 |
| P/S | - | 53.3 | 27.3 | 9.5 | 10.6 | 5.3 | 3.8 | 2.8 |
| Dividend yield | ||||||||
| Equity ratio | 48.6 % | 87.0 % | 86.3 % | 87.1 % | 86.2 % | 84.0 % | 82.3 % | 80.9 % |
| Gearing ratio | 41.1 % | -70.1 % | -52.7 % | -33.4 % | -22.8 % | -13.9 % | -6.4 % | -2.7 % |
Quarter data
| Q3/23 | Q4/23 | 2023 | Q1/24 | Q2/24 | Q3/24e | Q4/24e | 2024e | Q1/25e | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.4 | 1.0 | 4.0 | 1.1 | 1.0 | 0.6 | 1.2 | 3.9 | 1.4 |
| EBITDA | -2.9 | -2.1 | -8.5 | -1.3 | -1.2 | -1.3 | -1.2 | -5.8 | -1.1 |
| EBIT | -3.1 | -5.1 | -12.1 | -2.0 | -2.0 | -2.1 | -2.0 | -8.1 | -1.9 |
| Profit before taxes | -3.0 | -5.0 | -11.8 | -1.9 | -1.9 | -2.0 | -1.9 | -7.7 | -1.4 |
| Net income | -3.0 | -5.0 | -11.8 | -1.9 | -1.9 | -2.0 | -1.9 | -7.7 | -1.4 |
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Inside Information: Modulight has received PPT purchase orders worth of 1.5 million dollars
Modulight Q3'24: No clear signs of growth yet
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Modulight Q3'24 flash comment: Revenue missed expectations - profit and cash flow close to forecasts
Modulight: Cash flow development continued positive, progress with new business models
Modulight Q3'24 preview: Eye laser and clinical studies as revenue drivers
Modulight to publish its interim report for January–September 2024 on October 18, 2024
Modulight Corporation: Managers' Transactions – Jari Sillanpää
Modulight Corporation: Managers' Transactions – Virpi Sillanpää
Modulight Corporation: Managers' Transactions – Jari Hopsu
Modulight Corporation: Managers' Transactions – Ulla Haapanen
Modulight Corporation: Managers' Transactions – Lasse Orsila
Modulight Q2'24: Top line needs a boost
Modulight: Implementation of the new business model progressed and cash flow improved
