Professional
Added to YB: 2024-09-04
Pitch date: 2024-09-02
NCAB.ST [neutral]
NCAB Group AB (publ)
-31.87%
current return
Author Info
Sweet Stocks is a former portfolio manager at an international small cap fund who shares pitches for international equities. Sign up for his blog.
Company Info
NCAB Group AB (publ) manufactures and sells printed circuit boards (PCBs) in Sweden, Nordic region, rest of Europe, North America, and Asia.
Market Cap
SEK 11.4B
Pitch Price
SEK 74.20
Price Target
N/A
Dividend
1.81%
EV/EBITDA
20.62
P/E
33.56
EV/Sales
3.18
Sector
Electronic Equipment, Instruments and Components
Category
growth
NCAB – a near-shoring picks and shovels play
NCAB.ST (watchlist, waiting for lower price): PCB supplier, 35% GM, 20% ROIC. Asset-light, M&A-driven growth (18 since IPO). Destocking cycle hit volumes/prices. 3,650 HMLV customers, 2% global market share. Q2'24 sales still down double-digits vs peers growing. Valuation tricky; high-single-digit growth forecast. 30x 2026E multiple.
Read full article (9 min)