Photonike Capital SA provides bespoke risk protection solutions in the industrial and financial processes. It offers tailor made solutions for credit enhancement, market hedging, and alternative finance purposes. The company was founded in 2008 and is based in Brussels, Belgium.

Belgium

Photonike Capital S.A.

Financial Services

The company does not pay dividends at all, or it pays them sporadically. There have only been a few years with dividend payments in the past ten years. 

MLPHO.PA reported revenue of EUR 0mn in the last 12 months, down 0% from FY20. The institution earned EUR 0 mn of interest before provisioning and taxes (IBPT) in the trailing 12 months (TTM), a decline of 0% from FY20 The dynamics of more stable income, as measure by recurring income before provisioning and taxes (RIBPT), were rather similar. EPS fell 0% from FY20 to EUR 0.00.

The stock's performance has been mixed in the past six months, with growth following a decline. There is no clear price trend compared to its global peers from the same sector and industry (as shown above). The stock has outperformed this peer group by 37ppts over past six months and grown 26ppts faster in the past month. This is largely true for peers from the same country and sector. With respect to the stock's valuation against its peers, its overall price performance is 'fair'.

The institutional, legal, and compliance risks associated with the company's country are minimal. In combination with stringent business standards, shareholder rights are very highly protected.

MLPHO.PA has very poor trading liquidity. It will take considerable time for the average private investor to sell a common position under normal market conditions. Liquidity is very unstable and becomes extremely unfavourable on the days with the lowest activity. The trading volume mostly stays the same even under highly turbulent market conditions. Another factor to consider is the substantial number of days with zero trading volumes, i.e., without any ability to sell a position. The stock has a tiny market capitalisation, which usually makes its trading liquidity erratic and unpredictable. 

No other major risks have been identified.

The risk of default is high. Among the negative credit factors, we point to weak positions in its industry, negligible return on capital, and inadequate interest coverage. We note an favourable capital structure, among the positive credit factors. 

In highly turbulent market conditions, MLPHO.PA is exceptionally volatile. In other words, the stock will be among the worst-performers in times of extreme market volatility or shocking company news. Standalone, the worst-day losses (less than 1% of the time) will likely be critical. 

In normal market circumstances, MLPHO.PA is exceptionally volatile. Put differently, without outstanding market volatility or shocking company news, the stock's price will change quite unpredictably. The stock's losses on its worst days (less than 1-5% of the time) will range from critical to immense. 

Photonike Capital S.A.

€ 0.15

2

Photonike Capital S.A.

€ 0.15

2

Risk factor

Profitability factor

Risk / Profitability

Risk factor

Profitability factor

€ 0.15

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