Autodesk

Mensch und Maschine Software SE

Company presentation

Mensch und Maschine Software SE ($MUM (+0,95 %) ) is a leading provider of CAD/CAM software headquartered in Weßling, Germany. Founded in 1984, the company has developed into a major player in the field of digitization solutions for industry, construction and infrastructure. M+M employs over 1,000 people at around 75 international locations.

M+M's core business is divided into two main segments:

M+M SoftwareThis segment develops and distributes standard software solutions for CAM, BIM and CAE.

M+M Digitization This segment offers customized digitization solutions, training and consulting services.

M+M's mission is to support companies in their digital transformation and provide innovative software solutions for complex technical challenges. The company's vision is to remain the leading provider of CAD/CAM solutions in Europe and to continuously expand into new technologies and markets.

Historical development

Since its foundation, M+M has reached several important milestones:

• 1997: Stock market debut on the Neuer Markt as the eighth company.
• 2002Acquisition of the CAM specialist Open Mind AG, which expanded the expertise in the field of manufacturing software. In the same year, M+M acquired a majority stake in Dataflor AG, a developer of software for gardening and landscaping.
• 2019Acquisition of the software manufacturer Sofistik, which specializes in the calculation, dimensioning and design of construction projects.

These strategic acquisitions have helped M+M to diversify its portfolio and strengthen its market position in various industries.

Business model & core competencies

M+M's core competencies lie in its deep technical expertise in CAD/CAM software and its ability to translate complex customer needs into individual digitization solutions. The company benefits from long-standing customer relationships and a strong partner network.

Future prospects & strategic initiatives

M+M is committed to continuous innovation and expansion into new technology areas. Current growth initiatives include:

• Increased investment in BIM technologies for the construction industry.
• Expanding the range of CAM solutions for advanced manufacturing.
• Developing solutions for the digital factory and Industry 4.0.

In the medium term, M+M aims to further strengthen its market position in Europe and expand into new geographic markets.

Market position & competition

M+M has established itself as one of the leading providers of CAD/CAM solutions in Europe. The company competes with large international software companies as well as specialized niche suppliers. The main competitors include:

• $ADSK (+0,75 %) (USA)
• $DSY (+0,53 %) Systèmes (France)
• Siemens Digital Industries Software (Germany)

M+M differentiates itself through its strong local presence in Europe, customized solutions and comprehensive consulting and training services.

Total Addressable Market (TAM)

The global market for CAD/CAM software is expected to reach a volume of over 25 billion US dollars by 2028, with an annual growth rate of around 7%. Important growth drivers are:

• Increasing digitalization in the manufacturing industry.
• The increasing demand for BIM solutions in the construction sector.
• The growing importance of Industry 4.0 and IoT.

M+M is well positioned to benefit from these trends and further expand its market share in Europe.

Development

Sales have grown at an annual growth rate of 6%, which is acceptable. In contrast, however, net profit has grown at a 14 % CAGR, which is very positive.

In terms of turnover, the digitalization sector is significantly larger than the software sector, but contributes less to gross profit. Nevertheless, despite the lower absolute amount, the digitization sector has a better margin than software.

The gross margin is just under 54%, while the operating margin is 15% and net profit is approaching the 10% mark with an annual growth rate of 7%.

The shareholder yield is 2.6%, while the ratio of enterprise value to EBITDA is average. In addition, the ratio of net debt to EBITDA is negative.

The payout ratio is very high and could remain at around 90% for the time being, or possibly even lower. The dividend per share is rising continuously and should maintain this trend.

The capital efficiency is very good and a larger part of the distributions could be retained in order to invest in the business to gain even more market share.

Conclusion

The picture speaks for itself: with an insider share of 48% and a promising history, I am convinced that the company can achieve its goals. Earnings per share (EPS) should double in the next 4 to 5 years. The share is performing well, but is still undervalued. There is also an attractive dividend, which has been rising steadily for some time. The business case is convincing and the company's name is simply cool. The only thing that could really hinder the company is Germany, as most of its sales come from this market and the tax burden here is very high.

They could work on the presentation, as it seems a bit strange for a digital company, but ultimately it's going well.

Tomorrow is a big day.

With NVIDIA $NVDA (+0,44 %) Salesforce $CRM (+0,52 %) CD Projekt $CDR (+2,08 %) and Okta $OKTA (+3,01 %) report 15.72% of my portfolio in one day, almost simultaneously at around 10 p.m. CEST. In addition, with Crowdstrike $CRWD (+1,29 %) another interesting watchlist stock.

I'm not used to so much palpitations outside the reporting season. And even then, there are rarely days when so much can happen in both directions as tomorrow.

On Thursday there will be more figures from Autodesk $ADSK (+0,75 %) before we start a boring September that will probably drag on like chewing gum.

Still no figures at $ADSK (+0,75 %) ? what is going on

What's wrong with autodesk autocad ! $ADSK (+0,75 %) !

Share falls because they are late with their payments? So weird, maybe a good time to buy or are there other details? Who knows more ?

Subsequent purchase & company presentation of $ADSK (+0,75 %).

Today I would like to use my latest buy to bring you a little closer to Autodesk. An exciting growth company that is currently available at a 20% discount.

What does Autodesk do?

Autodesk is a US software company. They write about themselves: "Autodesk is changing how the world is designed and made". Their software is used to design construction projects, production lines, products, etc., and optimize them for efficiency.

The whole thing is divided into three segments:

• AEC (Architecture, Engineering, Construction)
• Product Design & Manufacturing
• Media/Entertainment

Why might Autodesk be interesting?

With Autodesk solutions, you can play the progressive digitalization in a wide range of industries. Whether car manufacturers, construction projects, infrastructure - the spectrum of customers is broad.

While the AI hype has already hyped up some companies, Autodesk could be or become a second-tier winner.

According to the Gartner Hype Cycle (if not known, just google it), 3D technologies have slowly reached the so-called "Slope of Enlightenment", i.e. more and more practical use cases are materializing.

I don't like investing in hypes myself. I invest in (mega) trends - and this one falls squarely within my investment horizon.

What do the figures say?

Sales are growing steadily. In the last 5 years on average 15% p.a., currently at approx. 9%. This is probably due to the current macro situation. When interest rates fall, I see potential for acceleration again, as customers should then realize more projects - and benefit from Autodesk's products.

The gross margin is a strong 90% (usual for a software company). The operating margin is 20%. As you can see, a lot of money is being earned.

With almost 2-digit growth, even in difficult times, I see a good starting point for potentially achieving a return of >10% p.a.

What does the valuation say?

The share has fallen by around 20% in recent weeks. The P/E ratio is therefore approx. 8.3, the historical average is approx. 9.8. This may initially be high for some investors - but it is not unusual for such profitable growth stocks.

You have to be aware that you are buying absolute quality here, which is reflected in profitability + sales and profit stability. This always entails a premium.

Conclusion

In my view, the share is currently available at a good price. The fundamental figures look good. The share is benefiting from trends such as AI, digitalization, resource conservation and pressure to increase efficiency.

What are your thoughts on the share?

In your opinion, is now the right time to invest in $ADSK (+0,75 %) or is it risky right now because of the class action lawsuit?

Hello dear community,

since I am relatively new to investing, I hope to learn something here on this topic.

Briefly about me, I am 40 years old and want to invest for the long term (at least 20 years). Since I am the sole breadwinner (Miss sits at home and looks after the children, also sends no signals that you want to change this) I have monthly depending on expenses between 500 and 800 € available. Most of the money I want to $ISAC (+0,81 %) put in. In addition, I want a maximum of 10 individual positions in the portfolio of companies that I also see positive in the long term. In 4 companies I am already invested and want to expand the positions ($$BRK.B (+0,69 %) , $KO (+0,68 %) , $PAH3 (+0 %) , $MSCI (+0,94 %) ). In addition, I invest 5000 € in my employer per year, which seems to me a good deal, because I get free shares for the same amount, but they become my property only after 3 years.

On my wish list are still $ADBE (+0,61 %) , $GOOGL (+0,57 %) , $BLK , $MSFT (+0,37 %) , $ADSK (+0,75 %) , $LIN (+0,76 %) . However, still wants to save something for this.

I would be pleased to know what you think of the approach or my portfolio? Do you have other companies that you are convinced in the long term? I am always grateful for comments, tips and suggestions🙂🙂

Economy on 24.02.2023...

Next week professionally in Egypt, more dazu⤵️

Yesterday, I really hardly noticed anything from the market. Next week it goes for me professionally to Egypt. Many of you know that I work as a purchasing manager in the shipbuilding industry. For almost 2 years now, I have ships built there and now I would like to have a look at it myself. We also have a few meetings on site, because it is about some more ships in the next few years. So it's an exciting trip for me. So yesterday I first got myself a few things. A tropical overall, helmet with ventilation and so on. In the evening I had some calls with people from Instagram. That's why I really did not notice yesterday, and the numbers that I now post, I see even for the first time (except for MüRück, there I have already luschert). Next week I will not post here either. Maybe if I'm bored, I'll look for a nice picture out, which I could make there, and take you times a piece with. But maybe I end up in the evening in some bar... who knows :D. I am curious about Egypt Air. But now back to the stock market:

$MAIN (+1,33 %)
Main Street Capital:

Missed analyst estimates of $0.89 in the fourth quarter with earnings per share of $0.13. Revenue of $113.88 million beat expectations of $104 million.

$BYND (+0,55 %)
Beyond Meat:

Beats fourth-quarter analyst estimates of -$1.20 with earnings per share of -$1.05. Revenue of $79.94 million beats expectations of $75.8 million (shares up 17%)

$SQ (+0,78 %)
Block:

Missed analyst estimates of $0.30 in the fourth quarter with earnings per share of $0.22. Revenue of $4.65 billion exceeded expectations of $4.62 billion (stock still up 6%!!!)

$WBD (+0,76 %)
Warner Bros Discovery:

Missed analyst estimates of -$0.29 in the fourth quarter with earnings per share of -$0.86. Revenue of $11.01 billion below expectations of $11.23 billion (sold it all this week)

$ADSK (+0,75 %)
Autodesk:

Beat analyst estimates of $1.81 in the fourth quarter with earnings per share of $1.86. Revenue of $1.32 billion above expectations of $1.31 billion (Also a WEB3 favorite for me)

$INTU (+3,02 %)
Intuit:

Second-quarter earnings per share of $2.20 beat analyst estimates of $1.47. Revenue of $3 billion beat expectations of $2.91 billion.

$BKNG (+0,38 %)
Booking Holdings:

Beats fourth-quarter analyst estimates of $22.00 with earnings per share of $24.74. Revenue of $4 billion beats expectations of $3.9 billion.

$AMT (+0,93 %)
American Tower Corp:

Missed analyst estimates of $1.04 in the fourth quarter with earnings per share of -$1.47. Revenue of $2.71 billion exceeded expectations of $2.68 billion.

$MRNA (+1,09 %)
Moderna Inc:

Missed analyst estimates of $4.70 in the fourth quarter with earnings per share of $3.61. Revenue of $5.1 billion exceeded expectations of $5.05 billion.

$IRM (+0,46 %)
Iron Mountain Inc:

Hits fourth-quarter analyst estimates with earnings per share of $0.43. Revenue of $1.28 billion below expectations of $1.31 billion (The LUNE really tops my list!!!).

$HOT (+0,26 %)
HOCHTIEF:

Will pay dividend of €4 per share for 2022 (PY: €1.91, analyst forecast: €4.06); 2022 sales at €26.2 billion (PY: €21.38 billion (forecast: €24.9). For 2023, Hochtief targets net profit (adjusted) of €510 million to €550 million (forecast: €490 million).

$MUV2 (+0,05 %)
Munich Re:

Will achieve gross premiums of €67.13 billion in 2022 (PY: €59.56 billion, forecast: €67.3 billion), an operating result of €3.582 billion (PY: €3.517 billion, forecast: €3.035 billion), an investment result of €4.903 billion (PY: €7.156 billion), and a net profit after minorities of €3.432 billion (PY: €2.933 billion). In the outlook for 2023, the company expects a net profit of around €4.0 billion (analyst forecast: €4.022 billion). (I have 30% of my shares still sold at € 237.90, to take some profit and pressure out. The share was in the portfolio, by the high performance in recent times, the largest position with me. Therefore somewhat reduced!)

$AG1 (+7,04 %)
Auto1:

Reaches 2022 revenues of €6.5 billion according to preliminary figures (PY: +36.8%, analyst forecast: €6.6 billion), sales of 649,709 vehicles (forecast: around 660,000) and Ebitda (adjusted) of -€165.6 million (forecast: -€174 million).

$DTE (+0,78 %)
Deutsche Telekom:

Reports Q4 revenue of €29.8 billion (PY: €28.65 billion, analyst forecast: €30.00 billion), Ebitda AL (adjusted) of €40.2 billion (PY: €37.3 billion, forecast: €40.1 billion) and net profit (adjusted) of €1.99 billion (PY: €1.23 billion, forecast: €1.18 billion). In the outlook for 2023, the company expects Ebitda AL (adjusted) of +4% to around €40.8 billion (PY: €39.3 billion).

That's enough now, otherwise it will be too much. I'd like to get some feedback on this, because otherwise I always end up with the values that interest me. Maybe they are not the same ones that interest you. But otherwise the post will be too big and then no one reads it anymore. Still briefly to the economic dates. DAX changes, I have already announced in yesterday's post. Here again to look:

https://app.getquin.com/activity/VpjwppEQfv?lang=de&utm_source=sharing

Economic data (shortened version)

08:00

• DE: GDP (2nd release) 4Q calendar and seasonally adjusted yoy PROGNOSIS: -0.2% yoy 1st release: -0.2% yoy 3rd quarter: +0.5% yoy calendar-adjusted PROGNOSIS: +1.1% yoy 1st release: +1.1% yoy 3rd quarter: +1.4% yoy
• DE: GfK Consumer Climate Indicator March PROGNOSIS: -30.2 points previous: -33.9 points

08:45

• FR: Consumer confidence February PROGNOSIS: 81 previously: 80

14:30

• US: Personal Spending and Income January Personal Spending PROGNOSE: +1.4% yoy previously: -0.2% yoy Personal Income PROGNOSE: +1.2% yoy previous: +0.2% yoy PCE price index / core rate PROGNOSE: +0.5% yoy/+4.4% yoy previous: +0.3% yoy/+4.4% yoy

16:00

• US: Consumer Sentiment Index Uni Michigan (2nd survey) February PROGNOSIS: 66.4 1st survey: 66.4 previously: 64.9
• US: New home sales January PROGNOSIS: +0.6% yoy previous: +2.3% yoy

Untimed:

• EU: rating review for Netherlands (Fitch); North Rhine-Westphalia (S&P); Austria (Moody's); Austria (S&P); Sweden (Moody's);

Quarterly figures / corporate dates Europe

07:00 BASF | Holcim annual results

08:00 International Consolidated Airlines

10:00 Metro AGM (virtual)

No time stated: VW: Detmold Regional Court, ruling in proceedings against Volkswagen on end of production of vehicles with internal combustion engines by 2030

#quartalszahlen
#boerse
#börse
#aktien
#news
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#community
#communityfeedback
#nachrichten
#täglich
#investieren
#wirtschaft
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#fed
#rezession
#mitverstandzumkapital
#krypto
#kryptowährung
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#nvidia
#etsy
#ebay
#münchnerrück
#deutschetelekom
#bookingcom
#bookingholdings
#beyondmeat
#moderna
#ironmountain

hanging in front of Revit all day, they should give me something back from Autodesk