View Future GrowthGeberit 過去の業績過去 基準チェック /46Geberitの収益は年間平均-5.9%の割合で減少していますが、 Building業界の収益は年間 増加しています。収益は年間1.3% 2.2%割合で 減少しています。 Geberitの自己資本利益率は40%であり、純利益率は19.2%です。主要情報-5.92%収益成長率-3.99%EPS成長率Building 業界の成長31.16%収益成長率-2.21%株主資本利益率39.96%ネット・マージン19.20%次回の業績アップデート19 Aug 2026最近の業績更新Reported Earnings • May 06First quarter 2026 earnings released: EPS: CHF5.94 (vs CHF5.69 in 1Q 2025)First quarter 2026 results: EPS: CHF5.94 (up from CHF5.69 in 1Q 2025). Revenue: CHF872.8m (flat on 1Q 2025). Net income: CHF195.8m (up 4.5% from 1Q 2025). Profit margin: 22% (up from 21% in 1Q 2025). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Building industry in Europe.Reported Earnings • Mar 12Full year 2025 earnings released: EPS: CHF18.15 (vs CHF18.07 in FY 2024)Full year 2025 results: EPS: CHF18.15 (up from CHF18.07 in FY 2024). Revenue: CHF3.16b (up 2.5% from FY 2024). Net income: CHF597.8m (flat on FY 2024). Profit margin: 19% (in line with FY 2024). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Building industry in Europe.Reported Earnings • Nov 06Third quarter 2025 earnings released: EPS: CHF4.73 (vs CHF4.55 in 3Q 2024)Third quarter 2025 results: EPS: CHF4.73 (up from CHF4.55 in 3Q 2024). Revenue: CHF782.5m (up 2.6% from 3Q 2024). Net income: CHF155.8m (up 3.7% from 3Q 2024). Profit margin: 20% (in line with 3Q 2024). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Building industry in Europe.お知らせ • Aug 21+ 2 more updatesGeberit AG to Report Q3, 2026 Results on Nov 03, 2026Geberit AG announced that they will report Q3, 2026 results at 7:00 AM, Central European Standard Time on Nov 03, 2026お知らせ • Aug 20Geberit AG to Report Fiscal Year 2025 Results on Mar 12, 2026Geberit AG announced that they will report fiscal year 2025 results at 7:00 AM, Central European Standard Time on Mar 12, 2026すべての更新を表示Recent updatesお知らせ • Jun 04+ 1 more updateGeberit North America Advances Duofix Installation System For Faster Installation And Enhanced Design FlexibilityGeberit North America has spotlighted its enhanced Duofix installation system, engineered to help installers improve efficiency on site while giving architects and designers greater flexibility to create modern, high-performance bathroom spaces. Originally introduced last year and now being adopted across a growing range of residential and commercial applications, the latest generation of Duofix reflects Geberit's continued focus on practical innovation that delivers measurable performance benefits for installers, contractors, designers and building owners alike. Developed with direct feedback from installers and industry professionals, the enhanced Duofix system introduces several key advancements designed to improve installation workflows and long-term usability, including: Faster installation enabled by redesigned frame geometry and optimized installation components that help reduce assembly time on site; Up to a 50% reduction in perceived fill noise through a newly engineered fill valve that also simplifies maintenance access and servicing; Resource-efficient engineering that reduces material usage while maintaining the durability and reliability expected in high-performance residential and commercial environments. Designed with both performance and occupant experience in mind, the enhanced Duofix system supports the growing demand for cleaner aesthetics, quieter interiors and more efficient use of space in both residential and commercial environments. Concealed installation capabilities allow designers greater freedom in bathroom planning while helping create streamlined spaces that prioritize both functionality and user experience. In addition to installation performance, the updated system aligns with broader industry priorities around sustainability, occupant comfort, lifecycle value and long-term building efficiency. Its reduced material usage and durable design support more resource-conscious construction practices while maintaining the structural integrity and reliability Geberit systems are known for. The enhanced Duofix installation system is now available for residential and commercial projects throughout North America.Valuation Update With 7 Day Price Move • May 20Investor sentiment improves as stock rises 23%After last week's 23% share price gain to €561, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 16x in the Building industry in Europe. Total loss to shareholders of 11% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €397 per share.Buy Or Sell Opportunity • May 14Now 43% overvaluedOver the last 90 days, the stock has fallen 19% to €563. The fair value is estimated to be €394, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 3.7%. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings are also forecast to grow by 6.1% per annum over the same time period.Reported Earnings • May 06First quarter 2026 earnings released: EPS: CHF5.94 (vs CHF5.69 in 1Q 2025)First quarter 2026 results: EPS: CHF5.94 (up from CHF5.69 in 1Q 2025). Revenue: CHF872.8m (flat on 1Q 2025). Net income: CHF195.8m (up 4.5% from 1Q 2025). Profit margin: 22% (up from 21% in 1Q 2025). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Building industry in Europe.New Risk • Apr 29New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (47% net debt to equity). Share price has been volatile over the past 3 months (7.0% average weekly change).Valuation Update With 7 Day Price Move • Apr 29Investor sentiment deteriorates as stock falls 23%After last week's 23% share price decline to €446, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 16x in the Building industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €297 per share.お知らせ • Mar 25Geberit AG, Annual General Meeting, Apr 15, 2026Geberit AG, Annual General Meeting, Apr 15, 2026, at 16:30 W. Europe Standard Time.Reported Earnings • Mar 12Full year 2025 earnings released: EPS: CHF18.15 (vs CHF18.07 in FY 2024)Full year 2025 results: EPS: CHF18.15 (up from CHF18.07 in FY 2024). Revenue: CHF3.16b (up 2.5% from FY 2024). Net income: CHF597.8m (flat on FY 2024). Profit margin: 19% (in line with FY 2024). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Building industry in Europe.Board Change • Feb 05Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Thomas Bachmann was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Board Change • Jan 07Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Thomas Bachmann was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Nov 06Third quarter 2025 earnings released: EPS: CHF4.73 (vs CHF4.55 in 3Q 2024)Third quarter 2025 results: EPS: CHF4.73 (up from CHF4.55 in 3Q 2024). Revenue: CHF782.5m (up 2.6% from 3Q 2024). Net income: CHF155.8m (up 3.7% from 3Q 2024). Profit margin: 20% (in line with 3Q 2024). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Building industry in Europe.お知らせ • Nov 05Geberit AG Provides Earnings Guidance for the Full Year 2025Geberit AG provided earnings guidance for the full year 2025. The company expects for the full year now a net sales growth in local currencies of around 4.5% Net sales in October were above previous year's level and in line with this full year top line guidance.Board Change • Oct 23Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Thomas Bachmann was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Board Change • Oct 03Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Thomas Bachmann was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Board Change • Aug 26Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Thomas Bachmann was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.お知らせ • Aug 21+ 2 more updatesGeberit AG to Report Q3, 2026 Results on Nov 03, 2026Geberit AG announced that they will report Q3, 2026 results at 7:00 AM, Central European Standard Time on Nov 03, 2026お知らせ • Aug 20Geberit AG to Report Fiscal Year 2025 Results on Mar 12, 2026Geberit AG announced that they will report fiscal year 2025 results at 7:00 AM, Central European Standard Time on Mar 12, 2026Board Change • Jun 11Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Thomas Bachmann was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.収支内訳Geberit の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史BIT:1GEBN 収益、費用、利益 ( )CHF Millions日付収益収益G+A経費研究開発費31 Mar 263,157606917031 Dec 253,163598926030 Sep 253,133591921030 Jun 253,113585909031 Mar 253,127594905031 Dec 243,086597881030 Sep 243,094601868030 Jun 243,060599852031 Mar 243,028592838031 Dec 233,084617838030 Sep 233,057681842030 Jun 233,120673845031 Mar 233,304701869031 Dec 223,392706876030 Sep 223,497644910030 Jun 223,561698923031 Mar 223,531743926031 Dec 213,461756927030 Sep 213,412792903030 Jun 213,351787899031 Mar 213,098691865031 Dec 202,986642850030 Sep 202,964615871030 Jun 202,924596850031 Mar 203,050638880031 Dec 193,083647876030 Sep 193,091640883030 Jun 193,077615855031 Mar 193,088614882031 Dec 183,081597856030 Sep 183,077603877030 Jun 183,069616881031 Mar 182,994550894031 Dec 172,908527880030 Sep 172,839496869030 Jun 172,799490864031 Mar 172,828551833031 Dec 162,809548832030 Sep 162,794553804030 Jun 162,766520820031 Mar 162,676452786031 Dec 152,594422788030 Sep 152,4424236980質の高い収益: 1GEBNは 高品質の収益 を持っています。利益率の向上: 1GEBNの現在の純利益率 (19.2%)は、昨年(19%)よりも高くなっています。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: 1GEBNの収益は過去 5 年間で年間5.9%減少しました。成長の加速: 1GEBNの過去 1 年間の収益成長率 ( 2.1% ) は、5 年間の平均 ( 年間-5.9%を上回っています。収益対業界: 1GEBNの過去 1 年間の収益成長率 ( 2.1% ) Building業界2.1%を上回りませんでした。株主資本利益率高いROE: 1GEBNの 自己資本利益率 ( 40% ) は 高い とみなされます。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YCapital-goods 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/07/31 23:05終値2026/07/31 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Geberit AG 16 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。30 アナリスト機関Volker BosseBaader Helvea Equity ResearchZana MamelliBaader Helvea Equity ResearchMarta BruskaBaader Helvea Equity Research27 その他のアナリストを表示
Reported Earnings • May 06First quarter 2026 earnings released: EPS: CHF5.94 (vs CHF5.69 in 1Q 2025)First quarter 2026 results: EPS: CHF5.94 (up from CHF5.69 in 1Q 2025). Revenue: CHF872.8m (flat on 1Q 2025). Net income: CHF195.8m (up 4.5% from 1Q 2025). Profit margin: 22% (up from 21% in 1Q 2025). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Building industry in Europe.
Reported Earnings • Mar 12Full year 2025 earnings released: EPS: CHF18.15 (vs CHF18.07 in FY 2024)Full year 2025 results: EPS: CHF18.15 (up from CHF18.07 in FY 2024). Revenue: CHF3.16b (up 2.5% from FY 2024). Net income: CHF597.8m (flat on FY 2024). Profit margin: 19% (in line with FY 2024). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Building industry in Europe.
Reported Earnings • Nov 06Third quarter 2025 earnings released: EPS: CHF4.73 (vs CHF4.55 in 3Q 2024)Third quarter 2025 results: EPS: CHF4.73 (up from CHF4.55 in 3Q 2024). Revenue: CHF782.5m (up 2.6% from 3Q 2024). Net income: CHF155.8m (up 3.7% from 3Q 2024). Profit margin: 20% (in line with 3Q 2024). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Building industry in Europe.
お知らせ • Aug 21+ 2 more updatesGeberit AG to Report Q3, 2026 Results on Nov 03, 2026Geberit AG announced that they will report Q3, 2026 results at 7:00 AM, Central European Standard Time on Nov 03, 2026
お知らせ • Aug 20Geberit AG to Report Fiscal Year 2025 Results on Mar 12, 2026Geberit AG announced that they will report fiscal year 2025 results at 7:00 AM, Central European Standard Time on Mar 12, 2026
お知らせ • Jun 04+ 1 more updateGeberit North America Advances Duofix Installation System For Faster Installation And Enhanced Design FlexibilityGeberit North America has spotlighted its enhanced Duofix installation system, engineered to help installers improve efficiency on site while giving architects and designers greater flexibility to create modern, high-performance bathroom spaces. Originally introduced last year and now being adopted across a growing range of residential and commercial applications, the latest generation of Duofix reflects Geberit's continued focus on practical innovation that delivers measurable performance benefits for installers, contractors, designers and building owners alike. Developed with direct feedback from installers and industry professionals, the enhanced Duofix system introduces several key advancements designed to improve installation workflows and long-term usability, including: Faster installation enabled by redesigned frame geometry and optimized installation components that help reduce assembly time on site; Up to a 50% reduction in perceived fill noise through a newly engineered fill valve that also simplifies maintenance access and servicing; Resource-efficient engineering that reduces material usage while maintaining the durability and reliability expected in high-performance residential and commercial environments. Designed with both performance and occupant experience in mind, the enhanced Duofix system supports the growing demand for cleaner aesthetics, quieter interiors and more efficient use of space in both residential and commercial environments. Concealed installation capabilities allow designers greater freedom in bathroom planning while helping create streamlined spaces that prioritize both functionality and user experience. In addition to installation performance, the updated system aligns with broader industry priorities around sustainability, occupant comfort, lifecycle value and long-term building efficiency. Its reduced material usage and durable design support more resource-conscious construction practices while maintaining the structural integrity and reliability Geberit systems are known for. The enhanced Duofix installation system is now available for residential and commercial projects throughout North America.
Valuation Update With 7 Day Price Move • May 20Investor sentiment improves as stock rises 23%After last week's 23% share price gain to €561, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 16x in the Building industry in Europe. Total loss to shareholders of 11% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €397 per share.
Buy Or Sell Opportunity • May 14Now 43% overvaluedOver the last 90 days, the stock has fallen 19% to €563. The fair value is estimated to be €394, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 3.7%. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings are also forecast to grow by 6.1% per annum over the same time period.
Reported Earnings • May 06First quarter 2026 earnings released: EPS: CHF5.94 (vs CHF5.69 in 1Q 2025)First quarter 2026 results: EPS: CHF5.94 (up from CHF5.69 in 1Q 2025). Revenue: CHF872.8m (flat on 1Q 2025). Net income: CHF195.8m (up 4.5% from 1Q 2025). Profit margin: 22% (up from 21% in 1Q 2025). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Building industry in Europe.
New Risk • Apr 29New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (47% net debt to equity). Share price has been volatile over the past 3 months (7.0% average weekly change).
Valuation Update With 7 Day Price Move • Apr 29Investor sentiment deteriorates as stock falls 23%After last week's 23% share price decline to €446, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 16x in the Building industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €297 per share.
お知らせ • Mar 25Geberit AG, Annual General Meeting, Apr 15, 2026Geberit AG, Annual General Meeting, Apr 15, 2026, at 16:30 W. Europe Standard Time.
Reported Earnings • Mar 12Full year 2025 earnings released: EPS: CHF18.15 (vs CHF18.07 in FY 2024)Full year 2025 results: EPS: CHF18.15 (up from CHF18.07 in FY 2024). Revenue: CHF3.16b (up 2.5% from FY 2024). Net income: CHF597.8m (flat on FY 2024). Profit margin: 19% (in line with FY 2024). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Building industry in Europe.
Board Change • Feb 05Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Thomas Bachmann was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Board Change • Jan 07Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Thomas Bachmann was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Nov 06Third quarter 2025 earnings released: EPS: CHF4.73 (vs CHF4.55 in 3Q 2024)Third quarter 2025 results: EPS: CHF4.73 (up from CHF4.55 in 3Q 2024). Revenue: CHF782.5m (up 2.6% from 3Q 2024). Net income: CHF155.8m (up 3.7% from 3Q 2024). Profit margin: 20% (in line with 3Q 2024). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Building industry in Europe.
お知らせ • Nov 05Geberit AG Provides Earnings Guidance for the Full Year 2025Geberit AG provided earnings guidance for the full year 2025. The company expects for the full year now a net sales growth in local currencies of around 4.5% Net sales in October were above previous year's level and in line with this full year top line guidance.
Board Change • Oct 23Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Thomas Bachmann was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Board Change • Oct 03Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Thomas Bachmann was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Board Change • Aug 26Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Thomas Bachmann was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
お知らせ • Aug 21+ 2 more updatesGeberit AG to Report Q3, 2026 Results on Nov 03, 2026Geberit AG announced that they will report Q3, 2026 results at 7:00 AM, Central European Standard Time on Nov 03, 2026
お知らせ • Aug 20Geberit AG to Report Fiscal Year 2025 Results on Mar 12, 2026Geberit AG announced that they will report fiscal year 2025 results at 7:00 AM, Central European Standard Time on Mar 12, 2026
Board Change • Jun 11Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Thomas Bachmann was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.