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Grammer

WBAG:GMM
Snowflake Description

Reasonable growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GMM
WBAG
€466M
Market Cap
  1. Home
  2. AT
  3. Automobiles
Company description

Grammer AG develops and produces components and systems for automotive interiors worldwide. The last earnings update was 31 days ago. More info.


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GMM Share Price and Events
7 Day Returns
5.8%
WBAG:GMM
6.9%
Europe Auto Components
3.4%
AT Market
1 Year Returns
-27%
WBAG:GMM
-21.7%
Europe Auto Components
-2%
AT Market
GMM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Grammer (GMM) 5.8% 8.8% 1.6% -27% - -
Europe Auto Components 6.9% 10.9% 19.9% -21.7% -5.7% 6%
AT Market 3.4% 6% 10.1% -2% 43.4% 29.5%
1 Year Return vs Industry and Market
  • GMM underperformed the Auto Components industry which returned -21.7% over the past year.
  • GMM underperformed the Market in Austria which returned -2% over the past year.
Price Volatility
GMM
Industry
5yr Volatility vs Market

GMM Value

 Is Grammer undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Grammer to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Grammer.

WBAG:GMM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.4%
Perpetual Growth Rate 10-Year AT Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for WBAG:GMM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6%
Auto Components Unlevered Beta Simply Wall St/ S&P Global 1.16
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.157 (1 + (1- 30%) (102.91%))
1.664
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.66
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (1.664 * 5.96%)
10.43%

Discounted Cash Flow Calculation for WBAG:GMM using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Grammer is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

WBAG:GMM DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 10.43%)
2019 39.60 Analyst x1 35.86
2020 37.58 Analyst x4 30.82
2021 41.64 Analyst x1 30.93
2022 35.16 Est @ -15.57% 23.65
2023 31.38 Est @ -10.74% 19.11
2024 29.07 Est @ -7.37% 16.03
2025 27.62 Est @ -5% 13.79
2026 26.69 Est @ -3.35% 12.07
2027 26.11 Est @ -2.19% 10.69
2028 25.75 Est @ -1.38% 9.55
Present value of next 10 years cash flows €202.50
WBAG:GMM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €25.75 × (1 + 0.51%) ÷ (10.43% – 0.51%)
€260.93
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €260.93 ÷ (1 + 10.43%)10
€96.77
WBAG:GMM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €202.50 + €96.77
€299.28
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €299.28 / 12.28
€24.38
WBAG:GMM Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in WBAG:GMM represents 1.01316x of DB:GMM
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.01316x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 24.38 x 1.01316
€24.70
Value per share (EUR) From above. €24.70
Current discount Discount to share price of €38.50
= -1 x (€38.50 - €24.70) / €24.70
-55.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Grammer is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Grammer's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Grammer's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:GMM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €1.90
DB:GMM Share Price ** DB (2019-04-18) in EUR €38
Europe Auto Components Industry PE Ratio Median Figure of 42 Publicly-Listed Auto Components Companies 13.18x
Austria Market PE Ratio Median Figure of 51 Publicly-Listed Companies 14.73x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Grammer.

WBAG:GMM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= DB:GMM Share Price ÷ EPS (both in EUR)

= 38 ÷ 1.90

20.02x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Grammer is overvalued based on earnings compared to the Europe Auto Components industry average.
  • Grammer is overvalued based on earnings compared to the Austria market.
Price based on expected Growth
Does Grammer's expected growth come at a high price?
Raw Data
WBAG:GMM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 20.02x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
26.2%per year
Europe Auto Components Industry PEG Ratio Median Figure of 33 Publicly-Listed Auto Components Companies 1.1x
Austria Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 1.34x

*Line of best fit is calculated by linear regression .

WBAG:GMM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 20.02x ÷ 26.2%

0.76x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Grammer is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Grammer's assets?
Raw Data
WBAG:GMM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €25.63
DB:GMM Share Price * DB (2019-04-18) in EUR €38
Europe Auto Components Industry PB Ratio Median Figure of 47 Publicly-Listed Auto Components Companies 1.48x
Austria Market PB Ratio Median Figure of 59 Publicly-Listed Companies 1.27x
WBAG:GMM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= DB:GMM Share Price ÷ Book Value per Share (both in EUR)

= 38 ÷ 25.63

1.48x

* Primary Listing of Grammer.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Grammer is overvalued based on assets compared to the Europe Auto Components industry average.
X
Value checks
We assess Grammer's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Auto Components industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Auto Components industry average (and greater than 0)? (1 check)
  5. Grammer has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

GMM Future Performance

 How is Grammer expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
26.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Grammer expected to grow at an attractive rate?
  • Grammer's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Grammer's earnings growth is expected to exceed the Austria market average.
  • Grammer's revenue growth is expected to exceed the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:GMM Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:GMM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 26.2%
WBAG:GMM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 5.4%
Europe Auto Components Industry Earnings Growth Rate Market Cap Weighted Average 7.1%
Europe Auto Components Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
Austria Market Earnings Growth Rate Market Cap Weighted Average 9%
Austria Market Revenue Growth Rate Market Cap Weighted Average 2.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
WBAG:GMM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WBAG:GMM Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 2,519 1
2022-12-31 2,431 1
2021-12-31 2,225 114 65 3
2020-12-31 2,164 126 62 5
2019-12-31 2,121 103 57 5
WBAG:GMM Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 1,861 144 23
2018-09-30 1,807 22
2018-06-30 1,806 59 38
2018-03-31 1,783 31
2017-12-31 1,786 69 32
2017-09-30 1,769 45
2017-06-30 1,743 60 44
2017-03-31 1,728 52
2016-12-31 1,695 86 45
2016-09-30 1,635 86 32
2016-06-30 1,576 82 31
2016-03-31 1,499 71 21

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Grammer's earnings are expected to grow significantly at over 20% yearly.
  • Grammer's revenue is expected to grow by 5.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
WBAG:GMM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Grammer Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:GMM Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 5.18 6.12 4.24 2.00
2020-12-31 5.04 5.79 3.76 5.00
2019-12-31 4.55 5.05 4.10 5.00
WBAG:GMM Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 1.90
2018-09-30 1.77
2018-06-30 3.07
2018-03-31 2.48
2017-12-31 2.67
2017-09-30 3.82
2017-06-30 3.78
2017-03-31 4.59
2016-12-31 4.01
2016-09-30 2.88
2016-06-30 2.78
2016-03-31 1.90

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Grammer is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Grammer's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Grammer has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

GMM Past Performance

  How has Grammer performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Grammer's growth in the last year to its industry (Auto Components).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Grammer's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Grammer's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Grammer's 1-year earnings growth is negative, it can't be compared to the Europe Auto Components industry average.
Earnings and Revenue History
Grammer's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Grammer Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:GMM Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,861.29 23.30 157.06
2018-09-30 1,806.76 21.74 178.03
2018-06-30 1,806.06 37.65 153.72
2018-03-31 1,782.86 30.79 160.21
2017-12-31 1,786.47 32.49 160.03
2017-09-30 1,769.06 45.37 158.82
2017-06-30 1,742.87 43.95 153.99
2017-03-31 1,727.66 51.52 141.98
2016-12-31 1,695.48 44.98 141.36
2016-09-30 1,635.08 32.42 144.44
2016-06-30 1,576.16 31.13 144.80
2016-03-31 1,498.84 21.26 145.05
2015-12-31 1,425.69 23.60 129.79
2015-09-30 1,428.01 24.66 126.54
2015-06-30 1,406.42 29.50 117.62
2015-03-31 1,387.85 35.69 114.69
2014-12-31 1,365.90 34.68 121.90
2014-09-30 1,306.64 32.44 113.02
2014-06-30 1,292.84 31.44 116.96
2014-03-31 1,288.06 30.75 116.03
2013-12-31 1,265.66 29.97 113.27
2013-09-30 1,235.37 31.69 118.55
2013-06-30 1,208.24 30.79 114.77
2013-03-31 1,158.65 26.71 109.52
2012-12-31 1,132.96 26.74 109.02
2012-09-30 1,133.55 25.51 105.43
2012-06-30 1,123.19 25.73 104.29

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Grammer has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Grammer used its assets less efficiently than the Europe Auto Components industry average last year based on Return on Assets.
  • Grammer has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Grammer's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Auto Components industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Grammer has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

GMM Health

 How is Grammer's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Grammer's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Grammer's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Grammer's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Grammer's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Grammer Company Filings, last reported 3 months ago.

WBAG:GMM Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 314.84 479.48 204.37
2018-09-30 305.38 238.71 79.64
2018-06-30 319.86 238.95 101.44
2018-03-31 325.78 234.34 108.57
2017-12-31 337.66 244.43 146.31
2017-09-30 336.71 235.53 265.40
2017-06-30 338.88 233.47 279.50
2017-03-31 351.03 275.07 331.84
2016-12-31 271.24 281.07 132.97
2016-09-30 249.47 274.31 246.58
2016-06-30 245.01 319.26 287.45
2016-03-31 257.28 326.64 291.88
2015-12-31 253.42 293.66 127.30
2015-09-30 243.81 201.30 60.95
2015-06-30 247.14 199.80 59.88
2015-03-31 238.13 185.19 50.43
2014-12-31 231.76 179.87 84.00
2014-09-30 234.75 172.30 46.00
2014-06-30 228.65 192.61 62.07
2014-03-31 228.08 184.93 55.77
2013-12-31 224.67 192.11 91.32
2013-09-30 225.13 184.88 68.04
2013-06-30 222.19 232.73 125.43
2013-03-31 221.28 158.64 46.09
2012-12-31 210.25 155.35 73.13
2012-09-30 223.88 137.36 39.71
2012-06-30 219.41 141.63 47.26
  • Grammer's level of debt (152.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (85.5% vs 152.3% today).
  • Debt is well covered by operating cash flow (29.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.1x coverage).
X
Financial health checks
We assess Grammer's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Grammer has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

GMM Dividends

 What is Grammer's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.97%
Current annual income from Grammer dividends. Estimated to be 3.91% next year.
If you bought €2,000 of Grammer shares you are expected to receive €39 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Grammer's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.44%).
  • Grammer's dividend is below the markets top 25% of dividend payers in Austria (4.62%).
Upcoming dividend payment

Purchase Grammer before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
WBAG:GMM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
Europe Auto Components Industry Average Dividend Yield Market Cap Weighted Average of 34 Stocks 3.2%
Austria Market Average Dividend Yield Market Cap Weighted Average of 49 Stocks 3.4%
Austria Minimum Threshold Dividend Yield 10th Percentile 1.1%
Austria Bottom 25% Dividend Yield 25th Percentile 1.4%
Austria Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

WBAG:GMM Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.58 2.00
2020-12-31 1.54 5.00
2019-12-31 1.37 4.00
WBAG:GMM Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-18 0.750 2.077
2018-06-13 1.250 2.918
2017-03-29 1.300 2.547
2016-05-11 0.750 1.600
2015-05-20 0.750 2.778
2014-05-28 0.650 1.888
2013-06-05 0.500 1.579
2012-08-08 0.400 2.219
2012-03-19 0.400 2.760
2012-01-16 0.400 2.528
2009-11-10 0.000 0.000
2009-07-30 0.000 0.000
2009-04-30 0.000 0.000
2009-04-20 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Grammer has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Grammer only paid a dividend in the past 7 years.
Current Payout to shareholders
What portion of Grammer's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.3x coverage).
X
Income/ dividend checks
We assess Grammer's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Grammer afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Grammer has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

GMM Management

 What is the CEO of Grammer's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Manfred Pretscher
COMPENSATION €839,000
AGE 61
TENURE AS CEO 0.3 years
CEO Bio

Mr. Manfred Pretscher is Chief Executive Officer and Chief Financial Officer at Grammer AG since January 1, 2019. Mr. Pretscher was the Chief Operating Officer at Grammer AG and has been its Member of The Executive Board since August 2010. Mr. Pretscher served as a Human Resources Director at Grammer AG since August 2010 until May 31, 2015 and headed the central administrative Departments Purchasing/SCM, Operations, Operations Performance Management and Human Resources.

CEO Compensation
  • Manfred's compensation has been consistent with company performance over the past year.
  • Manfred's remuneration is higher than average for companies of similar size in Austria.
Management Team

Manfred Pretscher

TITLE
CEO, CFO & Member of the Executive Board
COMPENSATION
€839K
AGE
61
TENURE
0.3 yrs

Jens Öhlenschläger

TITLE
COO & Member of Executive Board
AGE
54
TENURE
0.3 yrs

Astrid Franzky

TITLE
Head of Controlling
COMPENSATION
€5K

Ralf Hoppe

TITLE
Head of Strategic Product Planning
Board of Directors Tenure

Average tenure and age of the Grammer board of directors in years:

7
Average Tenure
54.5
Average Age
  • The tenure for the Grammer board of directors is about average.
Board of Directors

Klaus Probst

TITLE
Chairman of Supervisory Board
COMPENSATION
€99K
AGE
65
TENURE
7.9 yrs

Horst Ott

TITLE
Deputy Chairman of Supervisory Board
COMPENSATION
€65K
AGE
52
TENURE
6.6 yrs

Wolfram Hatz

TITLE
Member of Supervisory Board
COMPENSATION
€54K
AGE
57
TENURE
18.8 yrs

Bernhard Wankerl

TITLE
Member of Supervisory Board
COMPENSATION
€52K
AGE
59
TENURE
15.4 yrs

Ingrid Hunger

TITLE
Member of Supervisory Board
COMPENSATION
€42K
AGE
66
TENURE
7.7 yrs

Harald Jung

TITLE
Employee Representative Member of Supervisory Board
COMPENSATION
€42K
AGE
48
TENURE
7.3 yrs

Tanja Fondel

TITLE
Employee Representative Member of Supervisory Board
COMPENSATION
€41K
AGE
42
TENURE
5.2 yrs

Schelenz Roder

TITLE
Employee Representative Member of Supervisory Board
COMPENSATION
€52K
AGE
51
TENURE
4.6 yrs

Peter Merten

TITLE
Member of Supervisory Board
COMPENSATION
€47K
AGE
64
TENURE
3.9 yrs

Andrea Elsner

TITLE
Member of Supervisory Board
COMPENSATION
€50K
AGE
39
TENURE
3.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Grammer's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Grammer has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

GMM News

Simply Wall St News

GMM Company Info

Description

Grammer AG develops and produces components and systems for automotive interiors worldwide. It operates in two divisions, Automotive and Commercial Vehicles. The Automotive division supplies headrests, armrests, center consoles, and interior components and operating elements to carmakers and automotive system suppliers. The Commercial Vehicles division offers driver and passenger seats for agricultural and construction machinery, forklifts, trucks, buses, and trains, as well as to bus and rolling stock OEMs and railway operators. The company was founded in 1880 and is headquartered in Amberg, Germany. As of August 23, 2018, Grammer AG operates as a subsidiary of Ningbo Jifeng Auto Parts Co., Ltd.

Details
Name: Grammer AG
GMM
Exchange: WBAG
Founded: 1880
€465,914,844
12,277,071
Website: http://www.grammer.com
Address: Grammer AG
Georg-Grammer-Strasse 2,
Amberg,
Bavaria, 92224,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
DB GMM Common Shares Deutsche Boerse AG DE EUR 15. Jul 1996
XTRA GMM Common Shares XETRA Trading Platform DE EUR 15. Jul 1996
LSE 0OQX Common Shares London Stock Exchange GB EUR 15. Jul 1996
SWX GMM Common Shares SIX Swiss Exchange CH CHF 15. Jul 1996
WBAG GMM Common Shares Wiener Boerse AG AT EUR 15. Jul 1996
BATS-CHIXE GMMD Common Shares BATS 'Chi-X Europe' GB EUR 15. Jul 1996
Number of employees
Current staff
Staff numbers
14,657
Grammer employees.
Industry
Auto Parts and Equipment
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 22:08
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/03/18
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.