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LEG Immobilien

WBAG:LEG
Snowflake Description

Second-rate dividend payer and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
LEG
WBAG
€7B
Market Cap
  1. Home
  2. AT
  3. Real Estate
Company description

LEG Immobilien AG operates as an integrated property company in Germany. The last earnings update was 37 days ago. More info.


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LEG Share Price and Events
7 Day Returns
2.5%
WBAG:LEG
-0.3%
AT Real Estate
0.1%
AT Market
1 Year Returns
11%
WBAG:LEG
0.9%
AT Real Estate
-8.2%
AT Market
LEG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
LEG Immobilien (LEG) 2.5% -4.2% 3.1% 11% - -
AT Real Estate -0.3% -1.5% 1.9% 0.9% 6.3% -13.6%
AT Market 0.1% -2.4% -1.9% -8.2% 41.2% 17.4%
1 Year Return vs Industry and Market
  • LEG outperformed the Real Estate industry which returned 0.9% over the past year.
  • LEG outperformed the Market in Austria which returned -8.2% over the past year.
Price Volatility
LEG
Industry
5yr Volatility vs Market

Value

 Is LEG Immobilien 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 LEG Immobilien 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 LEG Immobilien.

WBAG:LEG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.5%
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:LEG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.02
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.025 (1 + (1- 30%) (68.83%))
1.347
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.35
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (1.347 * 5.96%)
8.54%

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

The calculations below outline how an intrinsic value for LEG Immobilien 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:LEG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 8.54%)
2019 131.00 Analyst x1 120.69
2020 150.50 Analyst x2 127.75
2021 160.50 Analyst x2 125.52
2022 151.00 Analyst x1 108.80
2023 290.00 Analyst x1 192.51
2024 334.64 Est @ 15.39% 204.66
2025 371.20 Est @ 10.93% 209.16
2026 400.16 Est @ 7.8% 207.74
2027 422.63 Est @ 5.61% 202.14
2028 439.89 Est @ 4.08% 193.84
Present value of next 10 years cash flows €1,692.82
WBAG:LEG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €439.89 × (1 + 0.51%) ÷ (8.54% – 0.51%)
€5,506.11
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €5,506.11 ÷ (1 + 8.54%)10
€2,426.35
WBAG:LEG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €1,692.82 + €2,426.35
€4,119.17
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €4,119.17 / 63.19
€65.19
WBAG:LEG Discount to Share Price
Calculation Result
Value per share (EUR) From above. €65.22
Current discount Discount to share price of €106.45
= -1 x (€106.45 - €65.22) / €65.22
-63.2%

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

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

The amount the stock market is willing to pay for LEG Immobilien's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are LEG Immobilien's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:LEG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €11.20
XTRA:LEG Share Price ** XTRA (2019-06-14) in EUR €106.4
Austria Real Estate Industry PE Ratio Median Figure of 5 Publicly-Listed Real Estate Companies 20.05x
Austria Market PE Ratio Median Figure of 54 Publicly-Listed Companies 15.12x

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

** Primary Listing of LEG Immobilien.

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

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

= 106.4 ÷ 11.20

9.5x

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

  • LEG Immobilien is good value based on earnings compared to the AT Real Estate industry average.
  • LEG Immobilien is good value based on earnings compared to the Austria market.
Price based on expected Growth
Does LEG Immobilien's expected growth come at a high price?
Raw Data
WBAG:LEG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.5x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
-3.1%per year
Europe Real Estate Industry PEG Ratio Median Figure of 92 Publicly-Listed Real Estate Companies -0.19x
Austria Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 1.28x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.5x ÷ -3.1%

-3.02x

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

  • LEG Immobilien 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 LEG Immobilien's assets?
Raw Data
WBAG:LEG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €74.02
XTRA:LEG Share Price * XTRA (2019-06-14) in EUR €106.4
Austria Real Estate Industry PB Ratio Median Figure of 5 Publicly-Listed Real Estate Companies 0.84x
Austria Market PB Ratio Median Figure of 62 Publicly-Listed Companies 1.23x
WBAG:LEG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 106.4 ÷ 74.02

1.44x

* Primary Listing of LEG Immobilien.

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

  • LEG Immobilien is overvalued based on assets compared to the AT Real Estate industry average.
X
Value checks
We assess LEG Immobilien'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 Real Estate 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 Real Estate industry average (and greater than 0)? (1 check)
  5. LEG Immobilien has a total score of 2/6, 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 LEG Immobilien expected to perform in the next 1 to 3 years based on estimates from 11 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
-3.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is LEG Immobilien expected to grow at an attractive rate?
  • LEG Immobilien'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
  • LEG Immobilien's earnings are expected to decrease over the next 1-3 years, this is below the Austria market average.
  • LEG Immobilien's revenue growth is positive but not above the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:LEG Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:LEG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts -3.1%
WBAG:LEG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 1.8%
Austria Real Estate Industry Earnings Growth Rate Market Cap Weighted Average -1.8%
Europe Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 3.3%
Austria Market Earnings Growth Rate Market Cap Weighted Average 8.7%
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:LEG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WBAG:LEG Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 709 415 629 1
2022-12-31 679 397 662 2
2021-12-31 642 411 606 7
2020-12-31 618 369 608 11
2019-12-31 593 369 721 7
WBAG:LEG Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 830 307 707
2018-12-31 810 289 843
2018-09-30 796 286 790
2018-06-30 802 292 840
2018-03-31 820 271 887
2017-12-31 875 270 841
2017-09-30 896 255 949
2017-06-30 1,005 226 978
2017-03-31 1,006 220 622
2016-12-31 935 207 578
2016-09-30 925 193 325
2016-06-30 782 188 251

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • LEG Immobilien's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • LEG Immobilien's revenue is expected to grow by 1.8% 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:LEG 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 11 Analyst Estimates (S&P Global) See Below

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

WBAG:LEG Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 4.54 4.54 4.54 1.00
2021-12-31 8.87 11.66 5.88 8.00
2020-12-31 9.05 12.51 7.28 10.00
2019-12-31 14.82 15.06 14.58 2.00
WBAG:LEG Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 11.20
2018-12-31 13.34
2018-09-30 12.49
2018-06-30 13.29
2018-03-31 14.03
2017-12-31 13.31
2017-09-30 15.02
2017-06-30 15.47
2017-03-31 9.86
2016-12-31 9.17
2016-09-30 5.21
2016-06-30 4.11

*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.
  • LEG Immobilien is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess LEG Immobilien'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.
LEG Immobilien 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.

Past Performance

  How has LEG Immobilien 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 LEG Immobilien's growth in the last year to its industry (Real Estate).
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.
  • LEG Immobilien has delivered over 20% year on year earnings growth in the past 5 years.
  • LEG Immobilien's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • LEG Immobilien's 1-year earnings growth is negative, it can't be compared to the AT Real Estate industry average.
Earnings and Revenue History
LEG Immobilien'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 LEG Immobilien Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:LEG Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 829.50 707.40 35.30
2018-12-31 809.90 843.00 35.60
2018-09-30 795.80 789.50 35.00
2018-06-30 802.20 839.70 34.70
2018-03-31 819.70 886.70 34.30
2017-12-31 875.10 841.30 33.90
2017-09-30 896.30 949.40 34.10
2017-06-30 1,004.50 977.50 34.80
2017-03-31 1,006.10 622.40 35.10
2016-12-31 934.80 578.10 35.00
2016-09-30 924.50 325.30 38.40
2016-06-30 781.90 251.30 36.50
2016-03-31 744.10 235.90 38.30
2015-12-31 766.80 217.80 39.00
2015-09-30 714.30 64.80 29.50
2015-06-30 698.00 89.60 33.50
2015-03-31 692.60 101.90 32.10
2014-12-31 629.70 154.60 32.70
2014-09-30 618.00 151.90 43.30
2014-06-30 610.20 155.60 49.10
2014-03-31 577.30 146.50 54.20
2013-12-31 566.30 135.20 55.10
2013-09-30 546.60 56.90 68.40
2013-06-30 544.10 137.00 47.30
2013-03-31 539.80 90.60 46.50
2012-12-31 535.90 94.40 44.60

*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.
  • LEG Immobilien has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • LEG Immobilien used its assets more efficiently than the AT Real Estate industry average last year based on Return on Assets.
  • LEG Immobilien's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess LEG Immobilien'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 Real Estate 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.
LEG Immobilien has a total score of 2/6, see the detailed checks below.

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

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

Health

 How is LEG Immobilien'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 LEG Immobilien's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • LEG Immobilien's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • LEG Immobilien's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of LEG Immobilien'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.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.1x 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 LEG Immobilien Company Filings, last reported 2 months ago.

WBAG:LEG Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 4,700.30 4,627.50 267.00
2018-12-31 4,783.90 4,598.10 233.60
2018-09-30 4,341.50 4,553.90 185.30
2018-06-30 4,353.00 4,324.50 152.90
2018-03-31 4,192.00 4,285.90 283.00
2017-12-31 4,112.40 4,299.60 285.40
2017-09-30 3,721.70 4,460.00 307.60
2017-06-30 3,688.90 4,124.10 161.50
2017-03-31 3,482.00 3,943.20 392.00
2016-12-31 3,436.70 3,774.30 166.70
2016-09-30 2,927.00 3,780.30 303.80
2016-06-30 2,900.00 3,761.20 165.30
2016-03-31 2,973.20 3,744.30 310.10
2015-12-31 2,985.00 3,241.60 252.80
2015-09-30 2,426.80 3,344.30 378.20
2015-06-30 2,447.50 3,270.20 247.50
2015-03-31 2,462.40 2,964.30 176.70
2014-12-31 2,490.40 2,960.30 129.90
2014-09-30 2,230.50 2,910.70 303.60
2014-06-30 2,217.40 2,843.20 300.30
2014-03-31 2,288.10 2,607.20 140.50
2013-12-31 2,276.10 2,583.70 110.70
2013-09-30 2,184.00 2,517.60 43.00
2013-06-30 2,187.60 2,504.40 151.00
2013-03-31 2,147.30 2,488.10 120.20
2012-12-31 2,085.50 2,499.70 133.70
  • LEG Immobilien's level of debt (98.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (114.1% vs 98.5% today).
  • Debt is not well covered by operating cash flow (6.6%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.7x coverage).
X
Financial health checks
We assess LEG Immobilien'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. LEG Immobilien has a total score of 2/6, 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 LEG Immobilien'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
3.32%
Current annual income from LEG Immobilien dividends. Estimated to be 3.79% next year.
If you bought €2,000 of LEG Immobilien shares you are expected to receive €66 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?
  • LEG Immobilien's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.42%).
  • LEG Immobilien's dividend is below the markets top 25% of dividend payers in Austria (4.45%).
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:LEG 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 11 Analyst Estimates (S&P Global) See Below
Austria Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 6.4%
Austria Market Average Dividend Yield Market Cap Weighted Average of 51 Stocks 3.6%
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 4.4%

Industry and Market average data is calculated daily.

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

WBAG:LEG Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 4.53 1.00
2022-12-31 4.38 2.00
2021-12-31 4.18 12.00
2020-12-31 3.99 17.00
2019-12-31 3.80 10.00
WBAG:LEG Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-11 3.530 3.310
2018-03-08 3.040 3.139
2017-03-09 2.760 3.255
2017-03-08 2.760 3.667
2016-03-11 2.260 2.844
2016-03-10 2.260 2.950
2015-03-24 1.960 2.788
2014-03-27 1.730 3.077
2013-04-23 0.410 0.967

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

  • Whilst dividend payments have been stable, LEG Immobilien has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but LEG Immobilien only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of LEG Immobilien'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 covered by earnings (1.2x coverage).
X
Income/ dividend checks
We assess LEG Immobilien'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 LEG Immobilien afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. LEG Immobilien 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 LEG Immobilien'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
Lars Von Lackum
AGE 43
TENURE AS CEO 0 years
CEO Bio

Mr. Lars Von Lackum is CEO at LEG Immobilien AG since June 1, 2019 and and is its Member of Management Board since 2019. He was Chief Digital Officer at LEG Immobilien AG since 2019. He has been a Member of Board of Management at ERGO International AG since May 01, 2015. Mr. Von Lackum is responsible for the international legal protection business of the D.A.S brand. Mr. Von Lackum previously headed up Group Development at ERGO. Prior to joining ERGO on May 1, 2013, he spent more than five years at the real estate company CORPUS SIREO, where he started off as Chief Financial Officer before taking on the additional function of Deputy Spokesman for the Board. He served as Member of Supervisory Board at ERGO Versicherung AG since January 1, 2017. A Chartered German Tax Accountant and Certified Public Accountant (CPA), Mr. Von Lackum worked at Munich Re from 2002 to 2007 and led the Financial Reporting and Data Management department from 2005 onwards.

CEO Compensation
  • Insufficient data for Lars to compare compensation growth.
  • Insufficient data for Lars to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team

Eckhard Schultz

TITLE
CFO & Member of Management Board
COMPENSATION
€1M
AGE
54
TENURE
6.4 yrs

Thomas Hegel

TITLE
COMPENSATION
€1M
AGE
62
TENURE
0.1 yrs

Lars Von Lackum

TITLE
CEO & Member of the Management Board
AGE
43

Volker Wiegel

TITLE
COO & Member of Management Board
AGE
53

Burkhard Sawazki

TITLE
Head of Investor Relations & Strategic Business Analysis
Board of Directors Tenure

Average tenure and age of the LEG Immobilien board of directors in years:

6.4
Average Tenure
63
Average Age
  • The tenure for the LEG Immobilien board of directors is about average.
Board of Directors

Michael Zimmer

TITLE
Chairman of Supervisory Board
COMPENSATION
€193K
AGE
55
TENURE
6.4 yrs

Stefan Jütte

TITLE
Deputy Chairman of Supervisory Board
COMPENSATION
€161K
AGE
72
TENURE
6.4 yrs

Jochen Scharpe

TITLE
Supervisory Board Member
COMPENSATION
€101K
AGE
59
TENURE
6.4 yrs

Johannes Ludewig

TITLE
Supervisory Board Member
COMPENSATION
€97K
AGE
73
TENURE
6.4 yrs

Natalie Hayday

TITLE
Supervisory Board Member
COMPENSATION
€99K
AGE
42
TENURE
4 yrs

Claus Nolting

TITLE
Supervisory Board Member
COMPENSATION
€75K
AGE
67
TENURE
3.1 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 LEG Immobilien'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. LEG Immobilien 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

Company Info

Description

LEG Immobilien AG operates as an integrated property company in Germany. It rents apartments, commercial units, and garages and parking spaces; and purchases and sells property portfolios. The company also offers property management and location development services; and housing industry services, as well as IT services for third parties. In addition, it generates electricity and heat. As of December 31, 2018, the company’s portfolio comprised 133,969 apartments; 1,267 commercial units; and 33,855 garages and parking spaces in North Rhine-Westphalia. LEG Immobilien AG was founded in 1970 and is headquartered in Dusseldorf, Germany.

Details
Name: LEG Immobilien AG
LEG
Exchange: WBAG
Founded: 1970
€6,723,222,884
63,188,185
Website: http://www.leg-wohnen.de
Address: LEG Immobilien AG
Hans-Böckler-Strasse 38,
Dusseldorf,
North Rhine-Westphalia, 40476,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA LEG Ordinary Shares XETRA Trading Platform DE EUR 01. Feb 2013
OTCPK LEGI.F Ordinary Shares Pink Sheets LLC US USD 01. Feb 2013
DB LEG Ordinary Shares Deutsche Boerse AG DE EUR 01. Feb 2013
LSE 0QC9 Ordinary Shares London Stock Exchange GB EUR 01. Feb 2013
SWX LEG Ordinary Shares SIX Swiss Exchange CH CHF 01. Feb 2013
WBAG LEG Ordinary Shares Wiener Boerse AG AT EUR 01. Feb 2013
BATS-CHIXE LEGD Ordinary Shares BATS 'Chi-X Europe' GB EUR 01. Feb 2013
Number of employees
Current staff
Staff numbers
1,213
LEG Immobilien employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/15 21:37
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/06/03
Last earnings filing: 2019/05/09
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.