Mycronic AB (MYCR) AI Stock Analysis

• Market Cap: kr40.53B
• Dividend Yield: 1.71%
• Average Volume (3M): 171.55K
• Price to Earnings (P/E): 23.2
• Beta (1Y): 1.07
• Revenue Growth: 14.48%
• EPS Growth: 0.52%
• Country: SE
• Employees: 2,318
• Sector: General
• Sector Strength: N/A
• Industry: Industrial - Machinery
• EPS (TTM): 1.11
• Shares Outstanding: 195,833,020
• 10 Day Avg. Volume: 161,326
• 30 Day Avg. Volume: 171,548
• PEG Ratio: -0.74
• Price to Book (P/B): 2.98
• Price to Sales (P/S): 2.76
• P/FCF Ratio: 11.91
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 64 Neutral
• Price Target: kr222.00 ▲(2.49% Upside)

The score is primarily supported by strong profitability and an exceptionally low-debt balance sheet, but is held back by a clear deterioration in recent revenue/cash conversion and weak technical momentum (price below key moving averages with negative MACD). Valuation is reasonable-to-somewhat expensive at ~23.7x earnings with a modest ~1.77% dividend yield.

Positive Factors

Revenue Growth

The significant revenue growth indicates robust demand for Mycronic's products and services, supporting long-term business expansion and market presence.

Balance Sheet Health

A low debt-to-equity ratio suggests financial stability and low financial risk, providing Mycronic with flexibility to invest in growth opportunities.

Profitability

Improved profitability reflects effective cost management and operational efficiency, which can sustain long-term financial health and shareholder value.

Negative Factors

Free Cash Flow Decline

A decline in free cash flow can limit Mycronic's ability to reinvest in its business, potentially affecting future growth and financial flexibility.

Cash Flow Pressure

Pressure on cash flow, despite overall strength, may indicate challenges in maintaining cash reserves, impacting strategic investments and operations.

Operating Cash Flow

Reduced operating cash flow can strain Mycronic's ability to fund operations and growth initiatives, potentially affecting long-term business sustainability.

Mycronic AB Business Overview & Revenue Model

Company Description

Mycronic AB (publ), together with its subsidiaries, develops, manufactures, and sells production equipment for electronics industry in Sweden, rest of Europe, the United States, other Americas, China, South Korea, rest of Asia, and internationally. The company operates through four segments: Pattern Generators, High Flex, High Volume, and Global Technologies. The Pattern Generators segment develops, manufactures, and markets mask writers and measuring machines for production of advanced photomasks for manufacturing of screens for TVs, cars, mobile phones, tablets, and computers, as well as the semiconductor components. The High Flex segment develops, manufactures, and markets surface mount technology (SMT) and inspection equipment for flexible printed circuit board (PCBs) assembly. This segment offers MYPro Line, which integrates advanced jet printing and dispensing, pick-and-place, advanced process control solutions, and 3D inspection systems; MYTower material handling systems; and MYSmart dispensing and coating solutions. The High Volume segment develops, manufactures, and markets equipment for dispensing and conformal coating of circuit boards for manufacturers of mobile phones, tablets, computers, and electronics for electric vehicles, as well as automated screen printers. The Global Technologies segment offers die-bonding services for microelectronics and optoelectronic applications; advanced electrical measurement of bare board PCBs and substrates; flying probe test system, an automated electrical measurement system for low to mid quantities and complex boards; and grid test systems for volume bare board verification. It sells its products through agents and distributors. The company serves industrial, aerospace, defense, automotive, energy, medical, and telecom sectors. The company was formerly known as Micronic Mydata AB (publ) and changed its name to Mycronic AB (publ) in June 2014. Mycronic AB (publ) is headquartered in Täby, Sweden.

How the Company Makes Money

Mycronic generates revenue through the sale of its production equipment and services to various clients in the electronics manufacturing sector. Key revenue streams include the sale of high-tech machines for semiconductor fabrication and assembly lines for PCB manufacturing. Additionally, the company earns money from service agreements, maintenance contracts, and the sale of consumables required for the operation of its equipment. Strategic partnerships with leading electronics manufacturers and ongoing investments in R&D to innovate and improve product offerings further contribute to its earnings. Furthermore, Mycronic benefits from a growing demand for advanced electronics, driven by trends such as automation, electric vehicles, and the increasing complexity of electronic devices.

Mycronic AB Financial Statement Overview

Summary

Mycronic AB exhibits strong financial health with impressive revenue and profit growth, effective cost management, and efficient operations. The balance sheet is robust with low leverage and high equity, ensuring financial stability. Cash flow is strong but shows slight pressure from declining free cash flow.

Income Statement

Mycronic AB shows strong revenue growth with a 31.54% increase from 2023 to TTM. The gross profit margin is robust at 54.0% TTM, indicating effective cost management. Net profit margin improved to 24.2%, suggesting enhanced profitability. EBIT and EBITDA margins are solid at 29.8% and 29.9% respectively, indicating efficient operations. Overall, the income statement reflects healthy growth and profitability.

Balance Sheet

The company maintains a strong balance sheet with a low debt-to-equity ratio of 0.03, demonstrating conservative leverage. Return on equity is impressive at 25.7%, indicating efficient use of equity to generate profits. The equity ratio of 67.1% reflects a solid capital structure and financial stability. The balance sheet suggests low financial risk and strong shareholder value.

Cash Flow

Operating cash flow to net income ratio is healthy at 0.76, showing reliable cash generation from operations. However, free cash flow decreased by 17.8% from 2024 to TTM, primarily due to reduced operating cash flow. Despite this, the free cash flow to net income ratio remains strong at 0.74, indicating good cash conversion. Overall, cash flow performance is robust but shows slight pressure from declining free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	7.98B	7.06B	5.71B	5.12B	4.63B	3.88B
Gross Profit	4.21B	3.72B	2.72B	2.29B	2.28B	2.08B
EBITDA	2.25B	2.32B	1.39B	1.11B	1.20B	1.06B
Net Income	1.74B	1.68B	998.00M	741.00M	828.00M	694.00M
Balance Sheet
Total Assets	10.61B	10.41B	8.34B	7.34B	6.14B	5.32B
Cash, Cash Equivalents and Short-Term Investments	2.00B	3.01B	2.14B	1.27B	683.00M	1.30B
Total Debt	361.00M	219.00M	228.00M	270.00M	243.00M	264.00M
Total Liabilities	3.67B	3.84B	3.06B	2.64B	2.14B	1.94B
Stockholders Equity	6.90B	6.53B	5.25B	4.66B	3.96B	3.36B
Cash Flow
Free Cash Flow	897.00M	1.64B	1.41B	712.00M	908.00M	991.00M
Operating Cash Flow	1.64B	1.87B	1.61B	853.00M	998.00M	1.13B
Investing Cash Flow	-1.24B	-500.00M	-195.00M	67.00M	-1.22B	-150.00M
Financing Cash Flow	-850.00M	-552.00M	-447.00M	-382.00M	-437.00M	-288.00M

Mycronic AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 216.60
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:MYCR, the sentiment is Negative. The current price of 216.6 is below the 20-day moving average (MA) of 217.05, above the 50-day MA of 215.24, and above the 200-day MA of 206.34, indicating a neutral trend. The MACD of -1.46 indicates Positive momentum. The RSI at 40.89 is Neutral, neither overbought nor oversold. The STOCH value of 9.20 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:MYCR.

Mycronic AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TREL.B	73 Outperform	kr85.33B	23.57	9.56%	1.95%	2.73%	7.56%
ALFA	71 Outperform	kr206.04B	24.70	20.42%	1.84%	3.54%	20.94%
ATCO.B	71 Outperform	kr836.65B	27.65	26.43%	2.03%	-2.38%	-4.00%
SAND	70 Outperform	kr406.04B	27.46	16.39%	1.94%	-1.77%	21.13%
ATCO.A	67 Neutral	kr836.65B	31.60	26.43%	1.82%	-2.38%	-4.00%
MYCR	64 Neutral	kr40.53B	23.18	26.95%	1.71%	14.48%	0.52%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

Mycronic AB Corporate Events

Mycronic Buys German Probe Maker ETZ to Bolster PCB Test Business

Mycronic’s Global Technologies division has acquired German test probe manufacturer ETZ, consolidating control over a key supplier to its PCB Test business line, which provides electrical test equipment for bare board PCBs. ETZ, which generated nearly EUR 4 million in sales in 2025 with about 85 percent coming from Mycronic, will be integrated into the PCB Test business line, a move the company says will secure a strategic core competence in probe development and production while enhancing profitability for its PCB testing operations.

The most recent analyst rating on (SE:MYCR) stock is a Buy with a SEK232.00 price target. To see the full list of analyst forecasts on Mycronic AB stock, see the SE:MYCR Stock Forecast page.

Mycronic Wins New Asian Order for SLX Semiconductor Mask Writer

Mycronic has secured a USD 5–7 million order from a new Asian customer for its SLX laser mask writer, scheduled for delivery in the first quarter of 2026. The deal underscores growing demand for photomasks in semiconductor manufacturing and highlights the SLX platform’s modern, energy‑efficient design and fast delivery capabilities, reinforcing Mycronic’s position in the pattern generation market as chipmakers upgrade and modernize their production equipment.

The most recent analyst rating on (SE:MYCR) stock is a Buy with a SEK232.00 price target. To see the full list of analyst forecasts on Mycronic AB stock, see the SE:MYCR Stock Forecast page.

Mycronic wins multi-million dollar FPS 6100 Evo order from Asian customer

Mycronic has secured a USD 4–5 million order from an existing Asian customer for its FPS 6100 Evo mask writer, a system aimed at the multi-purpose photomask market serving applications such as electronic packaging, touchscreens and MEMS. The order, scheduled for delivery in the third quarter of 2026, underscores the strong position of Mycronic’s FPS series in the multi-purpose segment and reinforces the company’s role as a key supplier of pattern generation equipment to electronics and semiconductor manufacturers in Asia.

The most recent analyst rating on (SE:MYCR) stock is a Buy with a SEK232.00 price target. To see the full list of analyst forecasts on Mycronic AB stock, see the SE:MYCR Stock Forecast page.

Mycronic Wins USD 14–16 Million Prexision 8 Evo Order from Asian Customer

Mycronic has received a replacement order from an existing Asian customer for a Prexision 8 Evo mask writer, a system designed to handle complex display photomask patterns, with an order value estimated between USD 14 million and USD 16 million and delivery scheduled for the first quarter of 2027. The deal highlights the strength of Mycronic’s trade-in program in helping customers modernize their installed base, underscoring the company’s entrenched role in the display industry’s high-end photomask segment and supporting ongoing demand for its pattern generator technology in a key Asian market.

The most recent analyst rating on (SE:MYCR) stock is a Buy with a SEK232.00 price target. To see the full list of analyst forecasts on Mycronic AB stock, see the SE:MYCR Stock Forecast page.

Leadership Transition at Mycronic as SVP of People & Culture Departs

Mycronic has announced that Johanna Jarl, the Senior Vice President of People & Culture, will be leaving the company by April 2026 to pursue other opportunities. The company will immediately begin the search for her successor. Under Jarl’s leadership, the HR department has become more strategic and structured, emphasizing leadership, culture, inclusion, and organizational development, which has been acknowledged by the company’s President and CEO, Anders Lindqvist.

The most recent analyst rating on (SE:MYCR) stock is a Buy with a SEK232.00 price target. To see the full list of analyst forecasts on Mycronic AB stock, see the SE:MYCR Stock Forecast page.

Mycronic Secures New Order for SLX Mask Writer in Asia

Mycronic AB has secured an order for an SLX mask writer from a new customer in Asia, valued between USD 5-7 million, with net sales to be recognized in the current quarter. This order highlights the increasing demand for photomasks in the semiconductor industry and underscores Mycronic’s strategic positioning in providing modern, energy-efficient mask writers, reinforcing its role in the semiconductor manufacturing sector.

The most recent analyst rating on (SE:MYCR) stock is a Buy with a SEK232.00 price target. To see the full list of analyst forecasts on Mycronic AB stock, see the SE:MYCR Stock Forecast page.

Mycronic AB Sees Strong Order Growth Amidst Sales Decline

Mycronic AB reported a 67% increase in order intake for the third quarter of 2025, driven by strong performance in its Pattern Generators and Global Technologies divisions. Despite this, net sales declined by 4% due to lower sales in Pattern Generators, impacting the EBIT margin, which fell to 15%. The company is expanding its capabilities with the acquisition of Cowin DST in South Korea, pending regulatory approval, and has relocated PCB Assembly Solutions production to enhance capacity. The US market for PCB Assembly Solutions improved, while demand from the Chinese consumer electronics industry weakened. The Global Technologies division saw strong demand in AI data center markets and aerospace & defense spending in the US.

The most recent analyst rating on (SE:MYCR) stock is a Buy with a SEK218.00 price target. To see the full list of analyst forecasts on Mycronic AB stock, see the SE:MYCR Stock Forecast page.