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Palfinger

WBAG:PAL
Snowflake Description

Adequate balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PAL
WBAG
€987M
Market Cap
  1. Home
  2. AT
  3. Capital Goods
Company description

Palfinger AG produces and sells lifting solutions worldwide. The last earnings update was 50 days ago. More info.


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PAL Share Price and Events
7 Day Returns
-1.7%
WBAG:PAL
-3.7%
AT Machinery
-0.2%
AT Market
1 Year Returns
-19.5%
WBAG:PAL
-24.6%
AT Machinery
-6%
AT Market
PAL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Palfinger (PAL) -1.7% -2.1% 1% -19.5% -2.4% -2.4%
AT Machinery -3.7% -5.5% -16.6% -24.6% -26.5% -29.3%
AT Market -0.2% -2.5% -2% -6% 39.1% 19.8%
1 Year Return vs Industry and Market
  • PAL outperformed the Machinery industry which returned -24.6% over the past year.
  • PAL underperformed the Market in Austria which returned -6% over the past year.
Price Volatility
PAL
Industry
5yr Volatility vs Market

Value

 Is Palfinger 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 Palfinger 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 Palfinger.

WBAG:PAL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.4%
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:PAL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6.5%
Machinery Unlevered Beta Simply Wall St/ S&P Global 1.07
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.065 (1 + (1- 25%) (58.81%))
1.358
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.36
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (1.358 * 6.51%)
9.35%

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

The calculations below outline how an intrinsic value for Palfinger 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:PAL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 9.35%)
2019 57.20 Analyst x1 52.31
2020 93.83 Analyst x3 78.47
2021 106.57 Analyst x3 81.49
2022 115.70 Analyst x1 80.91
2023 114.70 Analyst x1 73.35
2024 114.18 Est @ -0.46% 66.77
2025 113.99 Est @ -0.17% 60.96
2026 114.03 Est @ 0.04% 55.76
2027 114.24 Est @ 0.18% 51.09
2028 114.55 Est @ 0.28% 46.85
Present value of next 10 years cash flows €647.95
WBAG:PAL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €114.55 × (1 + 0.51%) ÷ (9.35% – 0.51%)
€1,301.94
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,301.94 ÷ (1 + 9.35%)10
€532.43
WBAG:PAL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €647.95 + €532.43
€1,180.38
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,180.38 / 37.59
€31.4
WBAG:PAL Discount to Share Price
Calculation Result
Value per share (EUR) From above. €31.40
Current discount Discount to share price of €26.25
= -1 x (€26.25 - €31.40) / €31.40
16.4%

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

Current Discount
Amount off the current price Palfinger is available for.
Intrinsic value
16%
Share price is €26.25 vs Future cash flow value of €31.4
Current Discount Checks
For Palfinger to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Palfinger's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Palfinger's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 Palfinger's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Palfinger's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:PAL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €1.62
WBAG:PAL Share Price ** WBAG (2019-06-19) in EUR €26.25
Europe Machinery Industry PE Ratio Median Figure of 190 Publicly-Listed Machinery Companies 16.07x
Austria Market PE Ratio Median Figure of 54 Publicly-Listed Companies 15.14x

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

** Primary Listing of Palfinger.

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

= WBAG:PAL Share Price ÷ EPS (both in EUR)

= 26.25 ÷ 1.62

16.18x

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

  • Palfinger is overvalued based on earnings compared to the Europe Machinery industry average.
  • Palfinger is overvalued based on earnings compared to the Austria market.
Price based on expected Growth
Does Palfinger's expected growth come at a high price?
Raw Data
WBAG:PAL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 16.18x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
12.8%per year
Europe Machinery Industry PEG Ratio Median Figure of 129 Publicly-Listed Machinery Companies 1.64x
Austria Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 1.29x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 16.18x ÷ 12.8%

1.27x

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

  • Palfinger is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Palfinger's assets?
Raw Data
WBAG:PAL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €13.67
WBAG:PAL Share Price * WBAG (2019-06-19) in EUR €26.25
Austria Machinery Industry PB Ratio Median Figure of 6 Publicly-Listed Machinery Companies 1.62x
Austria Market PB Ratio Median Figure of 62 Publicly-Listed Companies 1.24x
WBAG:PAL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= WBAG:PAL Share Price ÷ Book Value per Share (both in EUR)

= 26.25 ÷ 13.67

1.92x

* Primary Listing of Palfinger.

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

  • Palfinger is overvalued based on assets compared to the AT Machinery industry average.
X
Value checks
We assess Palfinger'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 Machinery 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 Machinery industry average (and greater than 0)? (1 check)
  5. Palfinger has a total score of 0/6, 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.

Future Performance

 How is Palfinger expected to perform in the next 1 to 3 years based on estimates from 7 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
12.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Palfinger expected to grow at an attractive rate?
  • Palfinger's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Palfinger's earnings growth is expected to exceed the Austria market average.
  • Palfinger's revenue growth is positive but not above the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:PAL Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:PAL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 12.8%
WBAG:PAL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 1.7%
Austria Machinery Industry Earnings Growth Rate Market Cap Weighted Average 18.8%
Europe Machinery Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
Austria Market Earnings Growth Rate Market Cap Weighted Average 8.8%
Austria Market Revenue Growth Rate Market Cap Weighted Average 3.1%

*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:PAL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WBAG:PAL Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,742 1
2022-12-31 1,701 1
2021-12-31 1,775 182 103 6
2020-12-31 1,700 173 94 7
2019-12-31 1,670 147 86 7
WBAG:PAL Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 1,662 61
2018-12-31 1,616 127 58
2018-09-30 1,561 114 50
2018-06-30 1,519 132 49
2018-03-31 1,503 88 51
2017-12-31 1,471 92 -11
2017-09-30 1,454 100 62
2017-06-30 1,445 76 60
2017-03-31 1,400 102 62
2016-12-31 1,357 110 61
2016-09-30 1,328 128 66
2016-06-30 1,289 138 70

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Palfinger's earnings are expected to grow by 12.8% yearly, however this is not considered high growth (20% yearly).
  • Palfinger's revenue is expected to grow by 1.7% 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:PAL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Palfinger Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:PAL 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 2.74 2.95 2.18 5.00
2020-12-31 2.50 2.75 2.07 5.00
2019-12-31 2.29 2.46 2.17 4.00
WBAG:PAL Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 1.62
2018-12-31 1.54
2018-09-30 1.34
2018-06-30 1.31
2018-03-31 1.36
2017-12-31 -0.30
2017-09-30 1.65
2017-06-30 1.60
2017-03-31 1.65
2016-12-31 1.63
2016-09-30 1.76
2016-06-30 1.87

*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.
  • Palfinger is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Palfinger'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 Austria 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.
Palfinger has a total score of 2/6, 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.

Past Performance

  How has Palfinger 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 Palfinger's growth in the last year to its industry (Machinery).
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.
  • Palfinger's year on year earnings growth rate has been positive over the past 5 years.
  • Palfinger's 1-year earnings growth exceeds its 5-year average (20% vs 1.9%)
  • Palfinger's earnings growth has exceeded the Europe Machinery industry average in the past year (20% vs 12.9%).
Earnings and Revenue History
Palfinger'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 Palfinger Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:PAL Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,662.32 61.20 245.35 34.14
2018-12-31 1,615.63 57.95 245.35 34.14
2018-09-30 1,560.59 50.31 236.12 33.14
2018-06-30 1,519.19 49.11 233.64 31.70
2018-03-31 1,503.43 51.01 228.57 30.55
2017-12-31 1,471.08 -11.42 227.49 29.37
2017-09-30 1,453.51 61.94 225.10 26.87
2017-06-30 1,445.19 60.06 221.72 26.91
2017-03-31 1,400.13 61.93 216.49 26.76
2016-12-31 1,357.01 61.17 207.09 26.66
2016-09-30 1,327.57 65.98 199.47 26.45
2016-06-30 1,289.27 69.61 190.61 25.23
2016-03-31 1,256.35 68.56 184.84 24.72
2015-12-31 1,229.89 64.37 179.11 24.22
2015-09-30 1,179.87 53.88 175.99 24.33
2015-06-30 1,138.45 48.01 170.08 25.44
2015-03-31 1,091.75 40.64 166.99 24.95
2014-12-31 1,063.42 38.16 164.04 25.25
2014-09-30 1,047.08 42.15 158.74 23.16
2014-06-30 1,036.74 43.99 157.26 22.59
2014-03-31 1,018.88 44.99 152.76 22.62
2013-12-31 980.67 44.04 150.77 22.15
2013-09-30 963.06 42.96 149.73 21.79
2013-06-30 945.25 41.24 144.71 21.32
2013-03-31 937.08 40.76 141.90 20.54
2012-12-31 935.22 40.41 140.77 20.08
2012-09-30 912.96 41.04 168.32 16.68
2012-06-30 899.55 43.24 188.77 10.99

*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.
  • Palfinger has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Palfinger used its assets less efficiently than the Europe Machinery industry average last year based on Return on Assets.
  • Palfinger has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Palfinger'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 Machinery 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.
Palfinger has a total score of 4/6, 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.

Health

 How is Palfinger'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 Palfinger's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Palfinger is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Palfinger's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Palfinger'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 1.2x 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 Palfinger Company Filings, last reported 2 months ago.

WBAG:PAL Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 555.73 580.38 35.12
2018-12-31 555.73 580.38 35.12
2018-09-30 608.08 598.60 40.28
2018-06-30 598.28 579.83 33.92
2018-03-31 568.78 601.98 33.87
2017-12-31 511.78 592.23 40.17
2017-09-30 579.28 607.55 50.43
2017-06-30 568.35 631.60 60.35
2017-03-31 573.94 605.45 41.22
2016-12-31 579.92 584.72 33.92
2016-09-30 551.89 594.78 34.82
2016-06-30 540.94 568.59 33.15
2016-03-31 505.58 404.49 21.92
2015-12-31 510.66 405.54 21.55
2015-09-30 509.72 438.10 19.46
2015-06-30 518.82 438.90 21.14
2015-03-31 499.10 458.21 24.59
2014-12-31 454.65 412.42 20.76
2014-09-30 478.01 401.73 24.46
2014-06-30 460.85 373.01 24.98
2014-03-31 386.43 289.78 16.30
2013-12-31 385.91 235.90 15.97
2013-09-30 381.24 258.65 13.43
2013-06-30 375.57 256.39 14.58
2013-03-31 363.46 253.42 18.73
2012-12-31 364.87 249.24 24.48
2012-09-30 367.10 212.44 10.56
2012-06-30 360.71 215.36 12.47
  • Palfinger's level of debt (104.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (75.1% vs 104.4% today).
  • Debt is well covered by operating cash flow (21.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 10.8x coverage).
X
Financial health checks
We assess Palfinger'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. Palfinger has a total score of 4/6, 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.

Dividends

 What is Palfinger'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
1.94%
Current annual income from Palfinger dividends. Estimated to be 3.16% next year.
If you bought €2,000 of Palfinger 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?
  • Palfinger's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.42%).
  • Palfinger's dividend is below the markets top 25% of dividend payers in Austria (4.48%).
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:PAL 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 7 Analyst Estimates (S&P Global) See Below
Europe Machinery Industry Average Dividend Yield Market Cap Weighted Average of 143 Stocks 3%
Austria Market Average Dividend Yield Market Cap Weighted Average of 51 Stocks 3.6%
Austria Minimum Threshold Dividend Yield 10th Percentile 1%
Austria Bottom 25% Dividend Yield 25th Percentile 1.4%
Austria Top 25% Dividend Yield 75th Percentile 4.5%

Industry and Market average data is calculated daily.

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

WBAG:PAL Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.92 6.00
2020-12-31 0.82 6.00
2019-12-31 0.73 5.00
WBAG:PAL Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-18 0.510 1.931
2018-02-08 0.470 1.596
2017-02-09 0.570 1.530
2017-02-07 0.570 1.723
2016-02-05 0.780 2.928
2015-11-02 0.360 1.393
2015-07-30 0.360 1.441
2015-02-09 0.340 1.321
2015-02-06 0.340 1.417
2014-02-19 0.410 1.728
2014-02-18 0.410 1.296
2013-02-13 0.380 1.501
2013-01-15 0.380 1.866
2012-08-09 0.380 2.277
2012-02-16 0.380 2.122
2012-01-16 0.380 2.256
2011-04-15 0.220 1.237
2011-02-25 0.220 0.836
2011-01-25 0.220 0.818
2010-11-11 0.000 0.000
2010-11-02 0.000 0.000
2010-08-11 0.000 0.000
2010-05-11 0.000 0.000
2010-02-24 0.000 0.000
2010-01-25 0.000 0.000

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

  • Palfinger 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 Palfinger only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Palfinger's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.1x coverage).
X
Income/ dividend checks
We assess Palfinger's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 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 Palfinger afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Palfinger 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.

Management

 What is the CEO of Palfinger'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
Andreas Klauser
COMPENSATION €874,898
AGE 53
TENURE AS CEO 1 years
CEO Bio

Mr. Andreas Klauser has been the Chief Executive Officer at Palfinger AG since June 1, 2018 and its Member of Management Board/Member of the Executive Board since 2018. Mr. Klauser serves as Brand President of Case IH & Steyr at Iveco Magirus Brandschutz Technik Gmbh. He has been the President of Case IH Agricultural Equipment at CNH Global N.V. since December 1, 2009. He has been the Chief Executive Officer and President of Case IH since October 2009. He was General Manager of Magirus at CNH Industrial N.V. from January 1, 2016 to 2018 and was its Brand President of Case IH & Steyr Agricultural Equipment from December 2009 to 2018. He serves as the Chief Operating Officer of EMEA at Fiat Industrial SpA. He joined the Group Executive Council of CNH Industrial. He served as the Chief Operating Officer of EMEA at CNH Industrial NV and a member of The Group Executive Council. From 2012 to 2015 he served as Chief Operating Officer for CNH Industrial for the EMEA region. Mr. Klauser heads Case IH Agricultural Equipment business in Europe and has been with CNH Global NV for 19 years. He served as the Chief Executive Officer of Case IH Agricultural Equipment In at CNH Global NV since November 30, 2009. He has extensive experience in the agricultural sector. Mr. Klauser holds a degree from Steyr's HTBLA program, a Federal Higher Technical Institute for Mechanical Engineering and a Degree in Export Business from the University of Linz.

CEO Compensation
  • Insufficient data for Andreas to compare compensation growth.
  • Andreas's remuneration is about average for companies of similar size in Austria.
Management Team Tenure

Average tenure and age of the Palfinger management team in years:

2.6
Average Tenure
52
Average Age
  • The tenure for the Palfinger management team is about average.
Management Team

Andreas Klauser

TITLE
CEO & Member of Management Board
COMPENSATION
€875K
AGE
53
TENURE
1 yrs

Felix Strohbichler

TITLE
CFO & Member of the Management Board
COMPENSATION
€749K
AGE
44
TENURE
1.7 yrs

Martin Zehnder

TITLE
COO, CTO & Member of the Executive Board
COMPENSATION
€869K
AGE
51
TENURE
11.4 yrs

Hannes Roither

TITLE
Investor Relations Officer

Gerald Pschernig

TITLE
Managing Director of Business Unit Cranes

Hans Friedrich

TITLE
Head of Forest & Recycling Crane Division and Managing Director of Epsilon

Michael Berger

TITLE
Head of Corporate HR
TENURE
2.6 yrs

Lennart Brelin

TITLE
President of Consolidated Americas Region
TENURE
2.8 yrs

Mafika Mkhwanazi

TITLE
Executive Officer of Orlyfunt

Wolfgang Pilz

TITLE
Consultant
COMPENSATION
€695K
AGE
59
Board of Directors Tenure

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

4.3
Average Tenure
55
Average Age
  • The tenure for the Palfinger board of directors is about average.
Board of Directors

Hubert Palfinger

TITLE
Chairman of the Supervisory Board
AGE
49
TENURE
5.5 yrs

Hannes Palfinger

TITLE
2nd Deputy Chairman of the Supervisory Board
AGE
45
TENURE
5.5 yrs

Gerhard Rauch

TITLE
1st Deputy Chairman of the Supervisory Board
AGE
55
TENURE
3 yrs

Hannes Bogner

TITLE
Member of the Supervisory Board
AGE
59
TENURE
2.3 yrs

Erwin Asen

TITLE
Member of the Supervisory Board
AGE
47
TENURE
1.5 yrs

Alois Weiss

TITLE
Member of the Supervisory Board
AGE
56
TENURE
13.3 yrs

Heinrich Kiener

TITLE
Member of the Supervisory Board
AGE
62
TENURE
8.3 yrs

Johannes Kücher

TITLE
Member of the Supervisory Board
AGE
55
TENURE
4.3 yrs

Ellyn Cai

TITLE
Member of the Supervisory Board
AGE
32
TENURE
1.3 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 Palfinger'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. Palfinger 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.

News

Simply Wall St News

Palfinger AG (VIE:PAL): Has Recent Earnings Growth Beaten Long-Term Trend?

When Palfinger AG (VIE:PAL) announced its most recent earnings (31 March 2019), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … See our latest analysis for Palfinger How Did PAL's Recent Performance Stack Up Against Its Past? … I suggest you continue to research Palfinger to get a more holistic view of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for PAL’s future growth?

Simply Wall St -

Palfinger AG (VIE:PAL) Has Attractive Fundamentals

By this I mean, I look at stocks holistically, from their financial health to their future outlook. … In the case of Palfinger AG (VIE:PAL), it is a company with great financial health as well as a a great history of performance. … Take a look at our free research report of analyst consensus for PAL’s outlook.

Simply Wall St -

A Closer Look At Palfinger AG's (VIE:PAL) Impressive ROE

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Palfinger: 14% = €61m ÷ €556m (Based on the trailing twelve months to March 2019.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Combining Palfinger's Debt And Its 14% Return On Equity Palfinger does use a significant amount of debt to increase returns.

Simply Wall St -

Here's What Palfinger AG's (VIE:PAL) P/E Is Telling Us

Palfinger has a price to earnings ratio of 16.48, based on the last twelve months. … The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Palfinger: P/E of 16.48 = €26.8 ÷ €1.63 (Based on the year to March 2019.) Is A High Price-to-Earnings Ratio Good? … Hypothetically, a company could reduce its future P/E ratio by spending its cash (or taking on debt) to achieve higher earnings.

Simply Wall St -

Is Palfinger AG's (VIE:PAL) Capital Allocation Ability Worth Your Time?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … What is Return On Capital Employed (ROCE)? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Introducing Palfinger (VIE:PAL), The Stock That Dropped 10% In The Last Year

One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … When a company has just transitioned to profitability, earnings per share growth is not always the best way to look at the share price action. … Since we can't easily explain the share price movement based on these metrics, it might be worth considering how market sentiment has changed towards the stock

Simply Wall St -

Calculating The Fair Value Of Palfinger AG (VIE:PAL)

Today we will run through one way of estimating the intrinsic value of Palfinger AG (VIE:PAL). … by taking the foreast future cash flows of the company and discounting them back to today's value. … We generally believe that a company's value is the present value of all of the cash it will generate in the future.

Simply Wall St -

How Does Palfinger AG (VIE:PAL) Affect Your Portfolio Volatility?

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful.

Simply Wall St -

Is Palfinger AG (VIE:PAL) An Attractive Dividend Stock?

A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. … Historically, Palfinger AG (VIE:PAL) has paid dividends to shareholders, and these days it yields 2.0%. … Does Palfinger tick all the boxes of a great dividend stock?

Simply Wall St -

Only 2 Days Left Until Palfinger AG (VIE:PAL) Trades Ex-Dividend

Palfinger AG (VIE:PAL) will be distributing its dividend of €0.51 per share on the 26 March 2019, and will start trading ex-dividend in 2 days time on the 22 March 2019. … Whenever I am looking at a potential dividend stock investment, I always check these five metrics:? … Has it consistently paid a stable dividend without missing a payment or drastically cutting payout?

Simply Wall St -

Company Info

Description

Palfinger AG produces and sells lifting solutions worldwide. The company operates through two segments, LAND and SEA. The SEA segment offers marine cranes, offshore cranes, davits, boats, lifesaving equipment, winches and offshore equipment, wind cranes, and rope access products, as well as related services. The LAND segment provides loader cranes, timber and recycling cranes, telescopic cranes, mobile cranes, stiff boom cranes, tail lifts, access platforms, hooklifts and skiploaders, truck mounted forklifts, passenger lifts, bridge inspection units, and railway systems. The company also offers contract manufacturing services, including steel construction, cylinder production, chrome and nickel chrome plating, KTL cathotic dip coating and spray painting, and assembly and pre-assembly of subsystems or assemblies; and spare parts, training, project engineering, and customer services. It serves various industries, such as construction, cruise, infrastructure, maintenance, marine, mining, navy and coast guard, offshore, oil and gas, railway, recycling and waste management, rental, shipping, forestry and agriculture, transport and logistics, and wind energy, as well as local authorities. The company provides its products and services through a network of approximately 5,000 outlets in 130 countries; and 200 independent general importers. Palfinger AG was founded in 1932 and is headquartered in Bergheim, Austria. Palfinger AG is a subsidiary of The Palfinger Family.

Details
Name: Palfinger AG
PAL
Exchange: WBAG
Founded: 1932
€986,823,022
37,593,258
Website: http://www.palfinger.ag
Address: Palfinger AG
Lamprechtshausener Bundesstrasse 8,
Bergheim,
Salzburg, 5101,
Austria
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WBAG PAL Bearer Shares Wiener Boerse AG AT EUR 04. Jun 1999
OTCPK PLFR.F Bearer Shares Pink Sheets LLC US USD 04. Jun 1999
DB PFI Bearer Shares Deutsche Boerse AG DE EUR 04. Jun 1999
LSE 0MJ1 Bearer Shares London Stock Exchange GB EUR 04. Jun 1999
BATS-CHIXE PALV Bearer Shares BATS 'Chi-X Europe' GB EUR 04. Jun 1999
OTCPK PLFR.Y SPONSORED ADR Pink Sheets LLC US USD 13. Apr 2005
Number of employees
Current staff
Staff numbers
10,457
Palfinger employees.
Industry
Construction Machinery and Heavy Trucks
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/19 20:35
End of day share price update: 2019/06/19 00:00
Last estimates confirmation: 2019/06/19
Last earnings filing: 2019/04/30
Last earnings reported: 2019/03/31
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.