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MYT Netherlands (MYTE)
NYSE:MYTE
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MYT Netherlands
(NYSE:MYTE)
63Neutral
Positive Factors
Market Share
Mytheresa continues to impress with market share gains in the U.S. and Europe.
Sales Performance
Net sales accelerated largely due to stable return rates and higher full price selling.
Strategic Acquisitions
Analyst recommends upgrading shares to Buy due to conviction in sales and margins at the Mytheresa platform and the transformative opportunity given the pending YNAP acquisition.
Negative Factors
Geopolitical and Economic Challenges
China and Germany remain pressured and continue to be impacted by ongoing macro headwinds.
Regional Performance
Asia remains weak due to China still being negative.
MYT Netherlands (MYTE) vs. S&P 500 (SPY)
Market Cap
$636.94M
Dividend YieldN/A
Average Volume (3M)213.54K
Price to Earnings (P/E)―
Beta (1Y)1.45
Revenue Growth12.01%
EPS Growth-23.53%
CountryUS
Employees1,817
SectorConsumer Cyclical
Sector Strength51
IndustryLuxury Goods
Share Statistics
EPS (TTM)-0.43
Shares Outstanding85,265,960
10 Day Avg. Volume200,282
30 Day Avg. Volume213,545
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.73
Price to Cash Flow (P/CF)N/A
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$9.83Price Target Upside31.59% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
MYT Netherlands Business Overview & Revenue Model
Company DescriptionMYT Netherlands (MYTE) is a prominent luxury fashion retailer operating under the brand name Mytheresa. The company specializes in offering a curated selection of high-end fashion items, including clothing, shoes, bags, and accessories, from over 200 of the world's most renowned designers. MYTE serves its global customer base through its online platform, providing an exclusive shopping experience that combines a unique product assortment with personalized services.
How the Company Makes MoneyMYT Netherlands generates revenue primarily through the sale of luxury fashion products on its e-commerce platform. The company's revenue model is centered around direct-to-consumer sales, leveraging its extensive collection of high-end designer merchandise. This is complemented by personalized customer service and a seamless online shopping experience, which helps in maintaining a loyal customer base. Additionally, MYTE may engage in partnerships with luxury brands to offer exclusive collections or collaborations, further enhancing its appeal to fashion-conscious consumers. The company's earnings are significantly influenced by its ability to attract and retain affluent customers who prioritize exclusive and high-quality fashion items.
MYT Netherlands Financial Statement Overview
Summary
MYT Netherlands exhibits robust revenue growth and a strong equity position, but faces challenges with profitability and negative cash flows. Improving operational efficiency and cash flow management is essential to leverage its revenue growth.Income Statement
The Income Statement shows mixed results. The Gross Profit Margin is healthy at approximately 45.9% TTM, indicating effective cost management relative to revenue. However, the company is currently experiencing negative Net Profit and EBIT margins, reflecting profitability challenges. Despite this, revenue growth is evident, with a 27.8% increase from 2022 to TTM, showing strong top-line momentum. The company should focus on improving operational efficiency to enhance profitability.55
Neutral
Balance Sheet
The Balance Sheet reflects a moderate financial position. The Debt-to-Equity Ratio is manageable at 0.21 TTM, suggesting a conservative leverage strategy. The Equity Ratio stands at 57.9%, indicating a strong equity base relative to total assets. However, the Return on Equity is negative due to net losses, which is a concern for shareholder returns. The company maintains a solid asset base, but profitability improvements are necessary to leverage this strength.60
Neutral
Cash Flow
Cash Flow analysis reveals some weaknesses. The Operating Cash Flow to Net Income Ratio is negative, indicating cash flow issues relative to net losses. Free Cash Flow is negative, which highlights challenges in generating cash after capital expenditures. Although there was a substantial cash inflow from financing activities in TTM, reliance on external funding is not sustainable long-term. The company needs to enhance its cash flow generation to support operations and growth.45
Neutral
| Breakdown | |||||
| TTM | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 882.11M | 840.85M | 768.62M | 689.75M | 612.10M | 449.49M | Gross Profit |
| 405.31M | 384.53M | 382.59M | 354.99M | 287.04M | 209.94M | EBIT |
| -37.01M | -21.95M | -6.06M | 4.83M | -32.16M | 20.91M | EBITDA |
| -17.96M | -6.74M | 3.33M | 13.92M | -16.13M | 28.79M | Net Income Common Stockholders |
| -35.86M | -24.91M | -15.12M | -7.90M | -32.60M | 6.35M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 13.84M | 15.11M | 30.14M | 113.51M | 76.76M | 9.37M | Total Assets |
| 715.84M | 696.51M | 693.97M | 614.78M | 521.94M | 385.80M | Total Debt |
| 87.95M | 49.77M | 57.67M | 22.01M | 14.15M | 220.91M | Net Debt |
| 74.11M | 34.66M | 27.54M | -91.50M | -62.61M | 211.54M | Total Liabilities |
| 301.11M | 260.87M | 246.54M | 183.11M | 136.22M | 321.42M | Stockholders Equity |
| 414.74M | 435.64M | 447.43M | 431.67M | 385.72M | 64.38M |
| Cash Flow | Free Cash Flow | ||||
| -19.05M | -1.79M | -77.81M | 42.92M | -19.42M | 8.14M | Operating Cash Flow |
| -10.01M | 10.02M | -55.05M | 54.84M | -16.49M | 10.56M | Investing Cash Flow |
| -9.04M | -11.81M | -22.76M | -11.92M | -2.89M | -2.42M | Financing Cash Flow |
| 25.99M | -13.28M | -5.44M | -6.05M | 86.79M | -878.00K |
MYT Netherlands Technical Analysis
Negative
7.47
Price Trends
9.61
Negative
8.26
Negative
6.50
Positive
Market Momentum
-0.64
Positive
30.26
Neutral
21.01
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MYTE, the sentiment is Negative. The current price of 7.47 is below the 20-day moving average (MA) of 8.67, below the 50-day MA of 9.61, and above the 200-day MA of 6.50, indicating a neutral trend. The MACD of -0.64 indicates Positive momentum. The RSI at 30.26 is Neutral, neither overbought nor oversold. The STOCH value of 21.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MYTE.
MYT Netherlands Risk Analysis
MYT Netherlands disclosed 76 risk factors in its most recent earnings report. MYT Netherlands reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
MYT Netherlands Peers Comparison
Overall Rating
UnderperformOutperform
Sector (59)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $13.31B | 35.77 | 101.78% | ― | 6.40% | 891.13% | |
67 Neutral | $1.59B | 32.21 | 12.04% | ― | 5.73% | 81.83% | |
63 Neutral | $636.94M | ― | -8.28% | ― | 12.01% | -23.53% | |
63 Neutral | $5.00B | 19.69 | -39.97% | ― | 2.18% | 5.77% | |
59 Neutral | $12.24B | 11.04 | -1.00% | 3.78% | 1.30% | -19.54% | |
53 Neutral | $418.59M | ― | -34.37% | ― | -13.14% | 44.84% | |
49 Neutral | $625.21M | ― | 32.94% | ― | 9.32% | 25.94% |
* Consumer Cyclical Sector Average
Performance Comparison
MYTE
MYT Netherlands
7.56
4.04
114.77%
ETSY
Etsy
47.18
-18.72
-28.41%
SFIX
Stitch Fix
3.25
0.60
22.64%
RVLV
Revolve Group
21.49
0.38
1.80%
CHWY
Chewy
32.51
16.42
102.05%
REAL
RealReal
5.39
1.50
38.56%
MYT Netherlands Earnings Call Summary
Earnings Call Date: Feb 11, 2025 | % Change Since: -25.30% | Next Earnings Date: May 14, 2025
Earnings Call Sentiment Positive
The earnings call reflected a strong financial performance with significant growth in revenue and profitability, driven by successful customer engagement and strategic brand partnerships. However, challenges in Greater China and increased marketing costs were noted. The expected acquisition of YNAP is seen as a positive strategic move to strengthen market position.Highlights
Strong Revenue Growth
Mytheresa reported a strong net sales growth of 13.4% in Q2 of fiscal year 2025 compared to Q2 of fiscal year 2024, with the U.S. market showing a significant 17.6% increase in net sales.
Improved Profit Margins
The gross profit margin improved by 110 basis points to 50.9% in Q2 fiscal 2025, and the adjusted EBITDA margin increased by 350 basis points to 7.3%.
Successful Customer Engagement
Top customer GMV grew by 9.1%, with a notable increase in average spend per top customer by 13.6%. The average order value increased by 9.5% to €736.
Exclusive Brand Partnerships
Collaborations with luxury brands like Moncler, Victoria Beckham, and Bvlgari were highlighted, reinforcing Mytheresa's focus on high-end luxury.
Expected Acquisition of YNAP
The acquisition of YOOX NET-A-PORTER is expected to create significant synergies and form a leading global digital luxury group.
Lowlights
Challenges in Greater China
Results in China and Asia were impacted by ongoing macroeconomic headwinds, leading to dampened demand.
Increased Marketing Costs
The marketing cost ratio increased by 160 basis points to 12.3% in Q2 fiscal 2025, reflecting a return to normal marketing spend levels to capture market share.
Company Guidance
During the Mytheresa Second Quarter of Fiscal Year 2025 Earnings Conference Call, the company reported robust financial metrics, reflecting strong business momentum and growth. Compared to the same quarter last fiscal year, Mytheresa achieved 11.9% growth in Gross Merchandise Value (GMV) and a 13.4% increase in net sales, with the United States market showing significant growth at 17.6%. The average order value over the last 12 months rose by 9.5% to €736. The company also reported an improved gross profit margin of 50.9%, up by 110 basis points, and an adjusted EBITDA margin of 7.3%, marking an increase of 350 basis points. Despite the macroeconomic challenges in China, Mytheresa maintained stable inventory levels and saw a 9.1% growth in GMV from top customers, driven by a 13.6% increase in average spend per top customer. Looking forward, the company remains optimistic about closing the acquisition of YNAP in the first half of calendar year 2025, which is expected to enhance its market position and synergies.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.