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Metro

WBAG:MEO
Snowflake Description

Good value average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MEO
WBAG
€5B
Market Cap
  1. Home
  2. AT
  3. Consumer Retailing
Company description

Metro AG engages in the wholesale and food retail business. The last earnings update was 65 days ago. More info.


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MEO Share Price and Events
7 Day Returns
0.6%
WBAG:MEO
-0.2%
Europe Consumer Retailing
3.4%
AT Market
1 Year Returns
2%
WBAG:MEO
1.1%
Europe Consumer Retailing
-2%
AT Market
MEO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Metro (MEO) 0.6% 1.3% -0.5% 2% - -
Europe Consumer Retailing -0.2% 0% 4.1% 1.1% -5.3% -9%
AT Market 3.4% 6% 10.1% -2% 43.4% 29.5%
1 Year Return vs Industry and Market
  • MEO outperformed the Market in Austria which returned -2% over the past year.
Price Volatility
Industry
5yr Volatility vs Market
Related Companies

MEO Value

 Is Metro 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 Metro 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 Metro.

WBAG:MEO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 16 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.3%
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:MEO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6%
Consumer Retailing Unlevered Beta Simply Wall St/ S&P Global 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.465 (1 + (1- 30%) (66.68%))
0.787
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (0.8 * 5.96%)
5.28%

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

The calculations below outline how an intrinsic value for Metro 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:MEO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 5.28%)
2019 449.07 Analyst x8 426.56
2020 424.93 Analyst x10 383.39
2021 419.54 Analyst x9 359.55
2022 670.25 Analyst x2 545.62
2023 714.35 Analyst x2 552.36
2024 747.32 Est @ 4.62% 548.88
2025 772.60 Est @ 3.38% 539.01
2026 792.08 Est @ 2.52% 524.89
2027 807.28 Est @ 1.92% 508.14
2028 819.35 Est @ 1.5% 489.88
Present value of next 10 years cash flows €4,878.28
WBAG:MEO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €819.35 × (1 + 0.51%) ÷ (5.28% – 0.51%)
€17,271.99
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €17,271.99 ÷ (1 + 5.28%)10
€10,326.81
WBAG:MEO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €4,878.28 + €10,326.81
€15,205.09
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €15,205.09 / 363.10
€41.88
WBAG:MEO Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in WBAG:MEO represents 0.99866x of XTRA:B4B
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99866x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 41.88 x 0.99866
€41.82
Value per share (EUR) From above. €41.82
Current discount Discount to share price of €14.87
= -1 x (€14.87 - €41.82) / €41.82
64.4%

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

Current Discount
Amount off the current price Metro is available for.
Intrinsic value
>50%
Share price is €14.87 vs Future cash flow value of €41.82
Current Discount Checks
For Metro to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Metro's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Metro's share price is below the future cash flow value, and 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 Metro's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Metro's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:MEO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €1.25
XTRA:B4B Share Price ** XTRA (2019-04-18) in EUR €14.89
Europe Consumer Retailing Industry PE Ratio Median Figure of 32 Publicly-Listed Consumer Retailing Companies 19.26x
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 Metro.

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

= XTRA:B4B Share Price ÷ EPS (both in EUR)

= 14.89 ÷ 1.25

11.89x

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

  • Metro is good value based on earnings compared to the Europe Consumer Retailing industry average.
  • Metro is good value based on earnings compared to the Austria market.
Price based on expected Growth
Does Metro's expected growth come at a high price?
Raw Data
WBAG:MEO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.89x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts
-1.8%per year
Europe Consumer Retailing Industry PEG Ratio Median Figure of 24 Publicly-Listed Consumer Retailing Companies 1.71x
Austria Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 1.34x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.89x ÷ -1.8%

-6.45x

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

  • Metro earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Metro's assets?
Raw Data
WBAG:MEO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €8.97
XTRA:B4B Share Price * XTRA (2019-04-18) in EUR €14.89
Europe Consumer Retailing Industry PB Ratio Median Figure of 41 Publicly-Listed Consumer Retailing Companies 1.55x
Austria Market PB Ratio Median Figure of 59 Publicly-Listed Companies 1.27x
WBAG:MEO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= XTRA:B4B Share Price ÷ Book Value per Share (both in EUR)

= 14.89 ÷ 8.97

1.66x

* Primary Listing of Metro.

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

  • Metro is overvalued based on assets compared to the Europe Consumer Retailing industry average.
X
Value checks
We assess Metro'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 Consumer Retailing 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 Consumer Retailing industry average (and greater than 0)? (1 check)
  5. Metro has a total score of 4/6, 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.

MEO Future Performance

 How is Metro expected to perform in the next 1 to 3 years based on estimates from 16 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
-1.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Metro expected to grow at an attractive rate?
  • Metro's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Metro's earnings are expected to decrease over the next 1-3 years, this is below the Austria market average.
  • Metro's revenue growth is positive but not above the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:MEO Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:MEO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts -1.8%
WBAG:MEO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 16 Analysts 2%
Europe Consumer Retailing Industry Earnings Growth Rate Market Cap Weighted Average 12.2%
Europe Consumer Retailing Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
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:MEO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WBAG:MEO Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-09-30 32,148 923 400 3
2022-09-30 31,433 903 419 4
2021-09-30 31,085 1,033 409 14
2020-09-30 30,378 1,046 392 16
2019-09-30 29,728 1,015 429 15
WBAG:MEO Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 29,427 875 454
2018-09-30 29,476 905 454
2018-06-30 27,467 885 304
2018-03-31 27,810 1,026 322
2017-12-31 27,876 914 415
2017-09-30 29,903 1,027 359
2017-06-30 37,080 1,143 370
2017-03-31 36,642 857 348
2016-12-31 36,441 709 225
2016-09-30 36,549 1,173 506

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Metro's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Metro's revenue is expected to grow by 2% 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:MEO 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 16 Analyst Estimates (S&P Global) See Below

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

WBAG:MEO Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-09-30 1.10 1.10 1.10 1.00
2022-09-30 1.15 1.27 1.04 2.00
2021-09-30 1.10 1.19 0.90 11.00
2020-09-30 1.05 1.18 0.82 14.00
2019-09-30 1.15 1.26 0.88 14.00
WBAG:MEO Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 1.25
2018-09-30 1.25
2018-06-30 0.84
2018-03-31 0.89
2017-12-31 1.14
2017-09-30 0.99
2017-06-30 1.02
2017-03-31 0.95
2016-12-31 0.62
2016-09-30 1.39

*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.
  • Metro is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Metro'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.
Metro has a total score of 0/6, 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.

MEO Past Performance

  How has Metro 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 Metro's growth in the last year to its industry (Consumer Retailing).
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.
  • Metro has delivered over 20% year on year earnings growth in the past 5 years.
  • Metro's 1-year earnings growth is less than its 5-year average (9.4% vs 20.9%)
  • Metro's earnings growth has exceeded the Europe Consumer Retailing industry average in the past year (9.4% vs -4.5%).
Earnings and Revenue History
Metro'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 Metro Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:MEO 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 29,427.00 454.00 5,152.00
2018-09-30 29,476.00 454.00 5,148.00
2018-06-30 27,467.00 304.00 4,807.00
2018-03-31 27,810.00 322.00 4,787.00
2017-12-31 27,876.00 415.00 4,800.00
2017-09-30 29,903.00 359.00 5,283.00
2017-06-30 37,080.00 370.00 7,029.00
2017-03-31 36,642.00 348.00 7,170.00
2016-12-31 36,441.00 225.00 7,226.00
2016-09-30 36,549.00 506.00 7,204.00
2015-09-30 37,496.00 254.00 7,263.00
2014-09-30 38,970.00 40.00 7,464.00

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

MEO Health

 How is Metro'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 Metro's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Metro's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Metro's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Metro'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 2.3x 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 Metro Company Filings, last reported 3 months ago.

WBAG:MEO Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 3,274.00 3,602.00 1,860.00
2018-09-30 3,130.00 4,010.00 1,532.00
2018-06-30 3,093.00 4,951.00 2,383.00
2018-03-31 3,090.00 5,388.00 2,705.00
2017-12-31 3,414.00 4,084.00 2,648.00
2017-09-30 3,207.00 4,706.00 1,888.00
2017-06-30 3,204.00 4,784.00 2,325.00
2017-03-31 3,254.00 5,168.00 1,545.00
2016-12-31 3,153.00 4,777.00 3,535.00
2016-09-30 2,924.00 4,740.00 1,943.00
2015-09-30 2,651.00 7,675.00 4,578.00
2014-09-30 826.00 7,588.00 2,394.00
  • Metro's level of debt (110%) compared to net worth is high (greater than 40%).
  • Unable to establish if Metro's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (24.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.2x coverage).
X
Financial health checks
We assess Metro'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. Metro 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.

MEO Dividends

 What is Metro'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
4.7%
Current annual income from Metro dividends. Estimated to be 4.37% next year.
If you bought €2,000 of Metro shares you are expected to receive €94 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?
  • Metro's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.44%).
  • Metro's dividend is above the markets top 25% of dividend payers in Austria (4.62%).
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:MEO 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 16 Analyst Estimates (S&P Global) See Below
Europe Consumer Retailing Industry Average Dividend Yield Market Cap Weighted Average of 34 Stocks 3.7%
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:MEO Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-09-30 0.70 1.00
2022-09-30 0.63 2.00
2021-09-30 0.66 13.00
2020-09-30 0.63 17.00
2019-09-30 0.66 17.00
WBAG:MEO Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-12-13 0.700 4.886
2017-12-13 0.700 5.261

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

  • It is too early to tell whether Metro has stable dividend payments.
  • Metro only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Metro's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
X
Income/ dividend checks
We assess Metro'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 Metro afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Metro has a total score of 4/6, see the detailed checks below.


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

MEO Management

 What is the CEO of Metro'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
Olaf Koch
COMPENSATION €3,879,000
AGE 48
CEO Bio

Mr. Olaf G. Koch serves as Member of the Management Board at Metro Cash & Carry International GmbH since January 1, 2012. Mr. Koch serves as Chairman of the Management Board at Metro AG since March 02, 2017. He served as a Member of the Management Board at Ceconomy AG (formerly Metro Ag) since September 14, 2009 until July 12, 2017 and served as its Chairman of the Management Board since January 01, 2012 until July 12, 2017. Mr. Koch served as the Chief Executive Officer of Metro Cash & Carry until July 1, 2015. He served as the Chief Financial Officer of Metro Group Inc. since October 2009. Mr. Koch served as a Vice President of Covisint, LLC. He served as the Chief Financial Officer of Metro AG since September 2009 until December 2011. Mr. Koch served as Managing Director of Permira Advisers Ltd. He worked for DaimlerChrysler AG in Stuttgart, serving as a Vice President of Finance and Corporate e-Business; Controlling and Chief Financial Officer of the Mercedes-Benz passenger car division. Earlier, Mr. Koch worked at corporate development in the strategy department of DaimlerChrysler. He serves as Chairman at real, SB-Warenhaus GmbH. Mr. Koch also founded and established IT-Networks GmbH. He has also worked as an author of IT books. Mr. Koch served as a Member of Sustainability Board at METRO AG. He served as a Member of Board of Supervisory Directors at Metro Finance B.V. He served as a Director of Covisint, LLC. Mr. Koch served as a Member of Supervisory Board at Hugo Boss AG from June 2008 to February 2010. He served as a Director of Arysta LifeScience Corporation. Mr. Koch was a lecturer and consultant. He holds a Diploma in Economics and Business Administration from the University of Cooperative Education in Stuttgart, Germany.

CEO Compensation
  • Olaf's compensation has been consistent with company performance over the past year.
  • Insufficient data for Olaf to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team

Olaf Koch

TITLE
Chairman of the Management Board
COMPENSATION
€4M
AGE
48

Christian Baier

TITLE
CFO & Member of the Management Board
COMPENSATION
€2M
AGE
42

Heiko Hutmacher

TITLE
Chief Human Resources Officer
COMPENSATION
€3M
AGE
61
TENURE
2.1 yrs

Philippe Palazzi

TITLE
COO & Member of the Management Board
COMPENSATION
€2M
AGE
47
TENURE
0.9 yrs

Sabrina Ley

TITLE
Director of IR
Board of Directors Tenure

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

2.2
Average Tenure
56.5
Average Age
  • The average tenure for the Metro board of directors is less than 3 years, this suggests a new board.
Board of Directors

Jürgen Steinemann

TITLE
Chairman of the Supervisory Board
COMPENSATION
€240K
AGE
60

Werner Klockhaus

TITLE
Vice Chairman of the Supervisory Board
COMPENSATION
€160K
AGE
58

Edgar Ernst

TITLE
Member of Supervisory Board
COMPENSATION
€160K
AGE
66
TENURE
2.2 yrs

Stefanie Blaser

TITLE
Member of Supervisory Board
COMPENSATION
€53K
AGE
52
TENURE
1.2 yrs

Herbert Bolliger

TITLE
Member of Supervisory Board
COMPENSATION
€53K
AGE
65
TENURE
1.2 yrs

Gwyn Burr

TITLE
Member of Supervisory Board
COMPENSATION
€120K
AGE
55
TENURE
2.2 yrs

Thomas Dommel

TITLE
Member of Supervisory Board
COMPENSATION
€107K
AGE
55
TENURE
2.2 yrs

Florian Funck

TITLE
Member of Supervisory Board
COMPENSATION
€120K
AGE
47
TENURE
2.2 yrs

Michael Heider

TITLE
Member of Supervisory Board
COMPENSATION
€80K
AGE
55
TENURE
2.2 yrs

Peter Küpfer

TITLE
Member of Supervisory Board
COMPENSATION
€80K
AGE
74
TENURE
2.2 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 Metro'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. Metro 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.

MEO News

Simply Wall St News

MEO Company Info

Description

Metro AG engages in the wholesale and food retail business. It operates 771 wholesale stores under the METRO and MAKRO brands primarily serving the needs of hotels, restaurants, catering companies, and independent retailers, as well as service providers and authorities. The company also develops digital solutions. In addition, it provides services in the areas of real estate, logistics, information technology, and advertising. The company was formerly known as METRO Wholesale & Food Specialist AG and changed its name to METRO AG in August 2017. Metro AG is based in Düsseldorf, Germany.

Details
Name: Metro AG
MEO
Exchange: WBAG
Founded:
€5,401,787,025
363,097,253
Website: http://www.metroag.de
Address: Metro AG
Metro-Strasse 1,
Düsseldorf,
North Rhine-Westphalia, 40235,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA B4B Common Shares XETRA Trading Platform DE EUR 13. Jul 2017
OTCPK MTTW.F Common Shares Pink Sheets LLC US USD 13. Jul 2017
DB B4B Common Shares Deutsche Boerse AG DE EUR 13. Jul 2017
LSE 0RTE Common Shares London Stock Exchange GB EUR 13. Jul 2017
SWX B4B Common Shares SIX Swiss Exchange CH CHF 13. Jul 2017
BIT B4B Common Shares Borsa Italiana IT EUR 13. Jul 2017
WBAG MEO Common Shares Wiener Boerse AG AT EUR 13. Jul 2017
BDL METOR Common Shares Bourse de Luxembourg LU EUR 13. Jul 2017
DB B4B3 Preference Shares Deutsche Boerse AG DE EUR 13. Jul 2017
XTRA B4B3 Preference Shares XETRA Trading Platform DE EUR 13. Jul 2017
LSE 0RTF Preference Shares London Stock Exchange GB EUR 13. Jul 2017
BDL METPR Preference Shares Bourse de Luxembourg LU EUR 13. Jul 2017
Number of employees
Current staff
Staff numbers
132,293
Metro employees.
Industry
Hypermarkets and Super Centers
Consumer Retailing
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 22:35
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/16
Last earnings filing: 2019/02/12
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/09/30


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.