Electrification, page-3

Companies in this sector continue to deliver positive news :
- SXE announced other new major orders,
- SKS keeps revising upwards its forecast for FY 24 and just announced its revenue forecast for FY 25, expecting another major increase of its revenues (to 200 m$+ vs 130 m$+ for FY 24), driven by major data center orders,
- Mayfield (MYG), which has been quieter than the others, announced today that they will double their final dividend for FY 24 (to 2 c) and also gave an update for their cash at 30/6/24. Cash at 30/6/24 is 16.3 m$ vs 8.7 m$ at 31/12/23 and 4.9 m$ in June 23.
Based on this element and the dividends they paid in FY 24, we can estimate that Mayfield had another major free cash flow during H2 24 (around 9 m$ vs 6.1 m$ for H1 24 and 6.6 m$ for FY 23).
So MYG has probably a free cash flow around 30 % (at 0.72 $), while they are in a growing sector.

There has been a major increase for the share price of SXE and SKS.
There is no particular reason why Mayfield should continue to underperform the sector, after today's update.