WBAG:BYW6

Stock Analysis Report

Executive Summary

BayWa Aktiengesellschaft provides wholesale, retail, logistics, and support and consultancy services in the agriculture, building materials, and energy sectors in Germany and internationally.

Snowflake

Fundamentals

Established dividend payer with acceptable track record.


Similar Companies

Share Price & News

How has BayWa's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

4.6%

BYW6

2.9%

AT Trade Distributors

3.0%

AT Market


1 Year Return

-1.9%

BYW6

2.9%

AT Trade Distributors

-4.8%

AT Market

Return vs Industry: BYW6 underperformed the Austrian Trade Distributors industry which returned 2.9% over the past year.

Return vs Market: BYW6 exceeded the Austrian Market which returned -4.8% over the past year.


Shareholder returns

BYW6IndustryMarket
7 Day4.6%2.9%3.0%
30 Day1.0%-1.8%-0.7%
90 Day12.7%1.8%1.4%
1 Year1.5%-1.9%7.2%2.9%-1.3%-4.8%
3 Yearn/a33.8%21.0%43.8%30.8%
5 Yearn/a78.6%53.9%67.8%43.6%

Price Volatility Vs. Market

How volatile is BayWa's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is BayWa undervalued compared to its fair value and its price relative to the market?

26.38x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: BYW6 (€26.25) is trading above our estimate of fair value (€18.22)

Significantly Undervalued: BYW6 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BYW6 is poor value based on its PE Ratio (26.4x) compared to the Trade Distributors industry average (14.2x).

PE vs Market: BYW6 is poor value based on its PE Ratio (26.4x) compared to the Austrian market (14.3x).


Price to Earnings Growth Ratio

Low PEG Ratio: BYW6 is poor value based on its PEG Ratio (1.5x)


Price to Book Ratio

PB vs Industry: BYW6 is good value based on its PB Ratio (1x) compared to the XE Trade Distributors industry average (1.1x).


Next Steps

Future Growth

How is BayWa forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

17.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BYW6's forecast earnings growth (17.7% per year) is above the savings rate (0.5%).

Earnings vs Market: BYW6's earnings (17.7% per year) are forecast to grow faster than the Austrian market (8.5% per year).

High Growth Earnings: BYW6's earnings are forecast to grow, but not significantly.

Revenue vs Market: BYW6's revenue (3.2% per year) is forecast to grow faster than the Austrian market (3% per year).

High Growth Revenue: BYW6's revenue (3.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: BYW6's Return on Equity is forecast to be low in 3 years time (7%).


Next Steps

Past Performance

How has BayWa performed over the past 5 years?

-14.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: BYW6's earnings have declined by -14.3% per year over the past 5 years.

Accelerating Growth: BYW6's earnings growth over the past year (459.7%) exceeds its 5-year average (-14.3% per year).

Earnings vs Industry: BYW6 earnings growth over the past year (459.7%) exceeded the Trade Distributors industry 7.9%.


Return on Equity

High ROE: BYW6's Return on Equity (4.3%) is considered low.


Return on Assets

ROA vs Industry: BYW6's Return on Assets is below or equal to the Trade Distributors industry average last year.


Return on Capital Employed

ROCE Improving: BYW6 has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is BayWa's financial position?


Financial Position Analysis

Short Term Liabilities: BYW6's short term assets (€5.3B) exceeds its short term liabilities (€3.8B)

Long Term Liabilities: BYW6's short term assets (5.3B) exceeds its long term liabilities (3.3B)


Debt to Equity History and Analysis

Debt Level: BYW6's debt to equity ratio (230.6%) is considered high

Reducing Debt: BYW6's debt to equity ratio has increased from 144.9% to 230.6% over the past 5 years.

Debt Coverage: BYW6's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: BYW6's interest payments on its debt are not well covered by EBIT (1.9x coverage).


Balance Sheet

Inventory Level: BYW6 has a high level of physical assets or inventory.

Debt Coverage by Assets: BYW6's debt is covered by short term assets (assets are 1.696320x debt).


Next Steps

Dividend

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

2.96%

Current Dividend Yield


Dividend Yield vs Market

company3.0%marketbottom25%1.6%markettop25%4.4%industryaverage2.6%forecastin3Years3.4%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: BYW6's dividend (2.96%) is higher than the bottom 25% of dividend payers in the Austrian market (1.58%).

High Dividend: BYW6's dividend (2.96%) is low compared to the top 25% of dividend payers in the Austrian market (4.44%).

Stable Dividend: BYW6's dividends per share have been stable in the past 10 years.

Growing Dividend: BYW6's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (78.1%), BYW6's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BYW6's dividends in 3 years are forecast to be covered by earnings (63.1% payout ratio).


Next Steps

Management

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

5.3yrs

Average management tenure


CEO

Klaus Lutz (60yo)

11.3yrs

Tenure

0

Prof. Klaus Josef Lutz has been the Chairman of the Management Board and Chief Executive Officer at BayWa AG at WKN USA, LLC since July 1, 2008. Prof. Lutz is responsible at BayWa for the Building Material ...


Management Age and Tenure

5.3yrs

Average Tenure

Experienced Management: BYW6's management team is seasoned and experienced (5.3 years average tenure).


Board Age and Tenure

5.3yrs

Average Tenure

Experienced Board: BYW6's board of directors are considered experienced (5.3 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Klaus Lutz (60yo)

    Chairman of the Management Board & CEO

    • Tenure: 11.3yrs
  • Matthias Taft

    Member of the Management Board

    • Tenure: 4.5yrs
  • Andreas Helber

    CFO & Member of the Management Board

    • Tenure: 8.9yrs
  • Marcus Pöllinger

    Member of Management Board

    • Tenure: 0.9yrs
  • Reinhard Wolf (59yo)

    Member of the Management Board

    • Tenure: 6.1yrs
  • Marion Meyer

    Head of Grain Trading In Germany

    • Tenure: 2.4yrs
  • Josko Radeljic

    Head of Investor Relations

    • Tenure: 0yrs

Board Members

  • Manfred Nüssel

    Chairman of the Supervisory Board & Vice Chairman of the Cooperative Council

    • Tenure: 0yrs
  • Werner Waschbichler

    Vice Chairman of the Supervisory Board

    • Tenure: 1.3yrs
  • Gerd Sonnleitner

    Member of the Cooperative Council

    • Tenure: 0yrs
  • Franz Kustner

    Member of the Cooperative Council

    • Tenure: 0yrs
  • Martin Körner

    Member of the Cooperative Council

    • Tenure: 16.3yrs
  • Martin Empl

    Member of the Cooperative Council

    • Tenure: 0yrs
  • Klaus Buchleitner (55yo)

    Vice Chairman of Supervisory Board

    • Tenure: 0yrs
  • Theo Bergmann

    Member of Supervisory Board

    • Tenure: 6.3yrs
  • Wolfgang Altmüller (53yo)

    Member of Supervisory Board

    • Tenure: 5.3yrs
  • Karlheinz Kipke

    Chairman of the Cooperative Council

    • Tenure: 3.2yrs

Company Information

BayWa Aktiengesellschaft's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: BayWa Aktiengesellschaft
  • Ticker: BYW6
  • Exchange: WBAG
  • Founded: 1923
  • Industry: Trading Companies and Distributors
  • Sector: Capital Goods
  • Market Cap: €927.532m
  • Shares outstanding: 35.14m
  • Website: https://www.baywa.com

Number of Employees


Location

  • BayWa Aktiengesellschaft
  • Arabellastrasse 4
  • Munich
  • Bavaria
  • 81925
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BYW6DB (Deutsche Boerse AG)Restricted Registered SharesDEEURJan 1992
BYWXTRA (XETRA Trading Platform)YesRegistered SharesDEEURJan 1992
0AH6LSE (London Stock Exchange)YesRegistered SharesGBEURJan 1992
0AH7LSE (London Stock Exchange)Restricted Registered SharesGBEURJan 1992
BYWDB (Deutsche Boerse AG)YesRegistered SharesDEEURJan 1992
BYW6XTRA (XETRA Trading Platform)Restricted Registered SharesDEEURJan 1992
BYW6DBATS-CHIXE (BATS 'Chi-X Europe')Restricted Registered SharesGBEURJan 1992
BYW6SWX (SIX Swiss Exchange)Restricted Registered SharesCHCHFJan 1992
BYWDBATS-CHIXE (BATS 'Chi-X Europe')YesRegistered SharesGBEURJan 1992
BYW6WBAG (Wiener Boerse AG)Restricted Registered SharesATEURJan 1992

Biography

BayWa Aktiengesellschaft provides wholesale, retail, logistics, and support and consultancy services in the agriculture, building materials, and energy sectors in Germany and internationally. Its Agricultu ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/15 21:48
End of Day Share Price2019/10/15 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.