WBAG:PAL

Stock Analysis Report

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Executive Summary

Palfinger AG produces and sells lifting solutions worldwide.


Snowflake Analysis

Undervalued with solid track record.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: PAL has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

2.9%

PAL

-1.2%

AT Machinery

1.7%

AT Market


1 Year Return

-24.5%

PAL

-8.3%

AT Machinery

-21.4%

AT Market

Return vs Industry: PAL underperformed the Austrian Machinery industry which returned -8.3% over the past year.

Return vs Market: PAL underperformed the Austrian Market which returned -21.4% over the past year.


Shareholder returns

PALIndustryMarket
7 Day2.9%-1.2%1.7%
30 Day-6.9%-6.2%-6.8%
90 Day19.8%17.6%8.4%
1 Year-24.5%-24.5%-8.1%-8.3%-20.6%-21.4%
3 Year-48.5%-50.2%-37.9%-41.5%-14.2%-20.7%
5 Year-17.2%-23.1%-32.3%-39.8%16.0%1.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

36.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PAL (€20.3) is trading below our estimate of fair value (€31.88)

Significantly Below Fair Value: PAL is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: PAL is good value based on its PE Ratio (10.3x) compared to the Machinery industry average (15.6x).

PE vs Market: PAL is good value based on its PE Ratio (10.3x) compared to the Austrian market (11x).


Price to Earnings Growth Ratio

PEG Ratio: PAL is good value based on its PEG Ratio (0.2x)


Price to Book Ratio

PB vs Industry: PAL is overvalued based on its PB Ratio (1.3x) compared to the AT Machinery industry average (1x).


Next Steps

Future Growth

How is Palfinger forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

47.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PAL's forecast earnings growth (47.4% per year) is above the savings rate (0.5%).

Earnings vs Market: PAL's earnings (47.4% per year) are forecast to grow faster than the Austrian market (21.6% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: PAL's revenue (5.4% per year) is forecast to grow faster than the Austrian market (3.4% per year).

High Growth Revenue: PAL's revenue (5.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PAL's Return on Equity is forecast to be low in 3 years time (9.3%).


Next Steps

Past Performance

How has Palfinger performed over the past 5 years?

2.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PAL has high quality earnings.

Growing Profit Margin: PAL's current net profit margins (4.4%) are higher than last year (3.7%).


Past Earnings Growth Analysis

Earnings Trend: PAL's earnings have grown by 2.8% per year over the past 5 years.

Accelerating Growth: PAL's earnings growth over the past year (21.5%) exceeds its 5-year average (2.8% per year).

Earnings vs Industry: PAL earnings growth over the past year (21.5%) exceeded the Machinery industry -10.8%.


Return on Equity

High ROE: PAL's Return on Equity (14.7%) is considered low.


Next Steps

Financial Health

How is Palfinger's financial position?


Financial Position Analysis

Short Term Liabilities: PAL's short term assets (€727.0M) exceed its short term liabilities (€403.5M).

Long Term Liabilities: PAL's short term assets (€727.0M) exceed its long term liabilities (€609.0M).


Debt to Equity History and Analysis

Debt Level: PAL's debt to equity ratio (84.6%) is considered high.

Reducing Debt: PAL's debt to equity ratio has reduced from 89.4% to 84.6% over the past 5 years.

Debt Coverage: PAL's debt is well covered by operating cash flow (29.3%).

Interest Coverage: PAL's interest payments on its debt are well covered by EBIT (7.7x coverage).


Balance Sheet


Next Steps

Dividend

What is Palfinger current dividend yield, its reliability and sustainability?

3.50%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: PAL's dividend (3.5%) is higher than the bottom 25% of dividend payers in the Austrian market (1.61%).

High Dividend: PAL's dividend (3.5%) is low compared to the top 25% of dividend payers in the Austrian market (5.14%).


Stability and Growth of Payments

Stable Dividend: PAL has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: PAL's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (35.9%), PAL's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PAL's dividends in 3 years are forecast to be well covered by earnings (33.5% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.7yrs

Average management tenure


CEO

Andreas Klauser (55yo)

2.08yrs

Tenure

€1,260,000

Compensation

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 and also serves as its Chairman of Ma ...


CEO Compensation Analysis

Compensation vs Market: Andreas's total compensation ($USD1.42M) is about average for companies of similar size in the Austrian market ($USD1.23M).

Compensation vs Earnings: Andreas's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Andreas Klauser
CEO & Chairman of the Executive Board2.08yrs€1.26mno data
Felix Strohbichler
CFO & Member of the Executive Board2.75yrs€767.00kno data
Martin Zehnder
COO, CTO & Member of the Executive Board12.5yrs€889.00kno data
Hannes Roither
Investor Relations Officerno datano datano data
Gerald Pschernig
Managing Director of Business Unit Cranesno datano datano data
Hans Friedrich
Head of Forest & Recycling Crane Division and Managing Director of Epsilonno datano datano data
Michael Berger
Head of Corporate HR3.67yrsno datano data
Lennart Brelin
President of Consolidated Americas Region3.92yrsno datano data
Mafika Mkhwanazi
Executive Officer of Orlyfuntno datano datano data
Wolfgang Pilz
Consultantno datano datano data

3.7yrs

Average Tenure

54yo

Average Age

Experienced Management: PAL's management team is considered experienced (3.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Hannes Bogner
Member of the Supervisory Board3.33yrsno datano data
Erwin Asen
Works Council Delegated Member of the Supervisory Board2.58yrsno datano data
Alois Weiss
Works Council Delegated Member of the Supervisory Board14.42yrsno datano data
Hubert Palfinger
Chairman of the Supervisory Board6.58yrsno data56.6% 431.9m
Hannes Palfinger
2nd Deputy Chairman of the Supervisory Board6.58yrsno datano data
Heinrich-Dieter Kiener
Member of the Supervisory Board9.33yrsno datano data
Johannes Kücher
Works Council Delegated Member of the Supervisory Board5.42yrsno datano data
Gerhard Rauch
1st Deputy Chairman of the Supervisory Board4.08yrsno datano data
Ellyn Cai
Member of the Supervisory Board2.33yrsno datano data

5.4yrs

Average Tenure

57yo

Average Age

Experienced Board: PAL's board of directors are considered experienced (5.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Palfinger AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Palfinger AG
  • Ticker: PAL
  • Exchange: WBAG
  • Founded: 1932
  • Industry: Construction Machinery and Heavy Trucks
  • Sector: Capital Goods
  • Market Cap: €763.143m
  • Shares outstanding: 37.59m
  • Website: https://www.palfinger.ag

Number of Employees


Location

  • Palfinger AG
  • Lamprechtshausener Bundesstrasse 8
  • Bergheim
  • Salzburg
  • 5101
  • Austria

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PLFR.FOTCPK (Pink Sheets LLC)YesBearer SharesUSUSDJun 1999
PALWBAG (Wiener Boerse AG)YesBearer SharesATEURJun 1999
PFIDB (Deutsche Boerse AG)YesBearer SharesDEEURJun 1999
0MJ1LSE (London Stock Exchange)YesBearer SharesGBEURJun 1999
PALVBATS-CHIXE (BATS 'Chi-X Europe')YesBearer SharesGBEURJun 1999
PLFR.YOTCPK (Pink Sheets LLC)SPONSORED ADRUSUSDApr 2005

Biography

Palfinger AG produces and sells lifting solutions worldwide. The company operates through Sales & Service LAND, Operations LAND, and SEA segments. It offers loader cranes, timber and recycling cranes, access platforms, hook and skiploaders, railway systems, bridge inspection units, tail lifts, passenger lifts, truck mounted forklifts, crawler cranes, marine cranes, winches and offshore equipment, offshore cranes, davit systems, boats, wind cranes, mobile cranes, knuckle boom cranes, telescopic cranes, stiff boom cranes, lifesaving equipment, rope access products, and factory mounted solutions, as well as related services. The company also provides 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 sales and service 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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/05 20:49
End of Day Share Price2020/07/03 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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.