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Hornbach Holding KGaA

WBAG:HBH
Snowflake Description

Good value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HBH
WBAG
€749M
Market Cap
  1. Home
  2. AT
  3. Retail
Company description

Hornbach Holding AG & Co. KGaA, through its subsidiaries, operates do-it-yourself (DIY) megastores with garden centers in Germany and other European countries. The last earnings update was 35 days ago. More info.


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HBH Share Price and Events
7 Day Returns
1.4%
WBAG:HBH
0.7%
Europe Specialty Retail
0.2%
AT Market
1 Year Returns
-25.2%
WBAG:HBH
-12.4%
Europe Specialty Retail
-6.4%
AT Market
HBH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Hornbach Holding KGaA (HBH) 1.4% 3.8% 3.3% -25.2% - -
Europe Specialty Retail 0.7% 1.2% 0.7% -12.4% -21.8% -17.7%
AT Market 0.2% 0% -1% -6.4% 44.8% 20.3%
1 Year Return vs Industry and Market
  • HBH underperformed the Specialty Retail industry which returned -12.4% over the past year.
  • HBH underperformed the Market in Austria which returned -6.4% over the past year.
Price Volatility
HBH
Industry
5yr Volatility vs Market

HBH Value

 Is Hornbach Holding KGaA 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 Hornbach Holding KGaA 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 Hornbach Holding KGaA.

WBAG:HBH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9%
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:HBH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6%
Specialty Retail Unlevered Beta Simply Wall St/ S&P Global 0.87
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.871 (1 + (1- 30%) (125.53%))
1.427
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.43
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (1.427 * 5.96%)
9.01%

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

The calculations below outline how an intrinsic value for Hornbach Holding KGaA 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:HBH DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 9.01%)
2019 6.40 Analyst x1 5.87
2020 192.00 Analyst x1 161.56
2021 63.95 Analyst x2 49.36
2022 76.00 Analyst x1 53.81
2023 85.28 Est @ 12.22% 55.39
2024 92.71 Est @ 8.7% 55.24
2025 98.50 Est @ 6.25% 53.83
2026 102.95 Est @ 4.52% 51.62
2027 106.37 Est @ 3.32% 48.92
2028 109.01 Est @ 2.48% 45.99
Present value of next 10 years cash flows €581.60
WBAG:HBH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €109.01 × (1 + 0.51%) ÷ (9.01% – 0.51%)
€1,288.40
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,288.40 ÷ (1 + 9.01%)10
€543.55
WBAG:HBH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €581.60 + €543.55
€1,125.14
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,125.14 / 16.00
€70.32
WBAG:HBH Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in WBAG:HBH represents 0.99359x of DB:HBH
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99359x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 70.32 x 0.99359
€69.87
Value per share (EUR) From above. €69.87
Current discount Discount to share price of €46.50
= -1 x (€46.50 - €69.87) / €69.87
33.4%

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

Current Discount
Amount off the current price Hornbach Holding KGaA is available for.
Intrinsic value
33%
Share price is €46.5 vs Future cash flow value of €69.87
Current Discount Checks
For Hornbach Holding KGaA to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Hornbach Holding KGaA's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Hornbach Holding KGaA'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 Hornbach Holding KGaA's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Hornbach Holding KGaA's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:HBH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-02-28) in EUR €4.08
DB:HBH Share Price ** DB (2019-06-24) in EUR €46.8
Europe Specialty Retail Industry PE Ratio Median Figure of 76 Publicly-Listed Specialty Retail Companies 13.96x
Austria Market PE Ratio Median Figure of 54 Publicly-Listed Companies 14.56x

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

** Primary Listing of Hornbach Holding KGaA.

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

= DB:HBH Share Price ÷ EPS (both in EUR)

= 46.8 ÷ 4.08

11.46x

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

  • Hornbach Holding KGaA is good value based on earnings compared to the Europe Specialty Retail industry average.
  • Hornbach Holding KGaA is good value based on earnings compared to the Austria market.
Price based on expected Growth
Does Hornbach Holding KGaA's expected growth come at a high price?
Raw Data
WBAG:HBH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.46x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
10%per year
Europe Specialty Retail Industry PEG Ratio Median Figure of 57 Publicly-Listed Specialty Retail Companies 1.35x
Austria Market PEG Ratio Median Figure of 33 Publicly-Listed Companies 1.21x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.46x ÷ 10%

1.15x

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

  • Hornbach Holding KGaA is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Hornbach Holding KGaA's assets?
Raw Data
WBAG:HBH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-02-28) in EUR €78.48
DB:HBH Share Price * DB (2019-06-24) in EUR €46.8
Europe Specialty Retail Industry PB Ratio Median Figure of 109 Publicly-Listed Specialty Retail Companies 1.11x
Austria Market PB Ratio Median Figure of 62 Publicly-Listed Companies 1.22x
WBAG:HBH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= DB:HBH Share Price ÷ Book Value per Share (both in EUR)

= 46.8 ÷ 78.48

0.6x

* Primary Listing of Hornbach Holding KGaA.

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

  • Hornbach Holding KGaA is good value based on assets compared to the Europe Specialty Retail industry average.
X
Value checks
We assess Hornbach Holding KGaA'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 Specialty Retail 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 Specialty Retail industry average (and greater than 0)? (1 check)
  5. Hornbach Holding KGaA 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.

HBH Future Performance

 How is Hornbach Holding KGaA expected to perform in the next 1 to 3 years based on estimates from 4 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
10%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Hornbach Holding KGaA expected to grow at an attractive rate?
  • Hornbach Holding KGaA's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Hornbach Holding KGaA's earnings growth is expected to exceed the Austria market average.
  • Hornbach Holding KGaA's revenue growth is expected to exceed the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:HBH Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:HBH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 10%
WBAG:HBH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 3.8%
Europe Specialty Retail Industry Earnings Growth Rate Market Cap Weighted Average 10.7%
Europe Specialty Retail Industry Revenue Growth Rate Market Cap Weighted Average 5.1%
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:HBH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WBAG:HBH Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-02-29 5,277 2
2023-02-28 5,092 2
2022-02-28 4,900 211 86 2
2021-02-28 4,719 200 84 4
2020-02-29 4,585 188 74 1
WBAG:HBH Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-02-28 4,362 54 65
2018-11-30 4,299 163 71
2018-08-31 4,221 176 74
2018-05-31 4,173 192 74
2018-02-28 4,141 182 82
2017-11-30 4,103 144 92
2017-08-31 4,064 136 91
2017-05-31 4,020 183 87
2017-02-28 3,941 179 77
2016-11-30 3,930 180 83
2016-08-31 3,887 175 79
2016-05-31 3,819 142 80

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Hornbach Holding KGaA's earnings are expected to grow by 10% yearly, however this is not considered high growth (20% yearly).
  • Hornbach Holding KGaA's revenue is expected to grow by 3.8% 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:HBH 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 4 Analyst Estimates (S&P Global) See Below

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

WBAG:HBH Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-02-29
2023-02-28
2022-02-28 5.40 5.40 5.40 1.00
2021-02-28 5.25 5.41 5.10 4.00
2020-02-29 4.61 4.61 4.61 1.00
WBAG:HBH Past Financials Data
Date (Data in EUR Millions) EPS *
2019-02-28 4.08
2018-11-30 4.43
2018-08-31 4.62
2018-05-31 4.62
2018-02-28 5.11
2017-11-30 5.72
2017-08-31 5.71
2017-05-31 5.46
2017-02-28 4.84
2016-11-30 5.16
2016-08-31 4.96
2016-05-31 5.01

*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.
  • Hornbach Holding KGaA is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Hornbach Holding KGaA'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.
Hornbach Holding KGaA has a total score of 3/6, 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.

HBH Past Performance

  How has Hornbach Holding KGaA 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 Hornbach Holding KGaA's growth in the last year to its industry (Specialty Retail).
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.
  • Hornbach Holding KGaA's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Hornbach Holding KGaA's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Hornbach Holding KGaA's 1-year earnings growth is negative, it can't be compared to the Europe Specialty Retail industry average.
Earnings and Revenue History
Hornbach Holding KGaA'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 Hornbach Holding KGaA Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:HBH Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-02-28 4,362.39 65.33 1,454.74
2018-11-30 4,298.89 70.83 1,428.31
2018-08-31 4,221.29 73.93 1,399.21
2018-05-31 4,172.79 73.93 1,385.41
2018-02-28 4,140.99 81.73 1,367.61
2017-11-30 4,103.05 91.53 1,336.80
2017-08-31 4,064.45 91.33 1,323.20
2017-05-31 4,020.25 87.23 1,313.90
2017-02-28 3,940.85 77.43 1,296.20
2016-11-30 3,930.43 82.58 1,287.83
2016-08-31 3,887.33 79.38 1,281.43
2016-05-31 3,819.23 80.18 1,263.53
2016-02-29 3,755.23 80.58 1,250.53
2015-11-30 3,700.49 86.55 1,235.13
2015-08-31 3,650.69 95.15 1,208.93
2015-05-31 3,588.69 87.05 1,195.63
2015-02-28 3,571.69 90.25 1,176.03
2014-11-30 3,538.97 85.04 1,143.34
2014-08-31 3,514.27 81.44 1,129.44
2014-05-31 3,512.37 91.64 1,102.54
2014-02-28 3,369.27 72.74 1,077.44
2013-11-30 3,303.67 67.78 1,067.93
2013-08-31 3,262.07 58.08 1,064.13
2013-05-31 3,202.17 53.48 1,056.63
2013-02-28 3,228.97 64.98 1,050.13
2012-11-30 3,229.31 65.77 1,041.31
2012-08-31 3,221.51 75.07 1,026.41

*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.
  • Hornbach Holding KGaA has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Hornbach Holding KGaA used its assets less efficiently than the Europe Specialty Retail industry average last year based on Return on Assets.
  • Hornbach Holding KGaA's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Hornbach Holding KGaA'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 Specialty Retail 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.
Hornbach Holding KGaA has a total score of 0/6, 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.

HBH Health

 How is Hornbach Holding KGaA'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 Hornbach Holding KGaA's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Hornbach Holding KGaA is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Hornbach Holding KGaA's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Hornbach Holding KGaA'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 1.3x 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 Hornbach Holding KGaA Company Filings, last reported 3 months ago.

WBAG:HBH Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-02-28 1,507.06 775.93 316.27
2018-11-30 1,556.80 702.40 228.50
2018-08-31 1,546.10 612.10 141.10
2018-05-31 1,515.90 618.00 224.70
2018-02-28 1,462.92 449.91 164.06
2017-11-30 1,501.30 641.50 234.00
2017-08-31 1,484.00 646.60 241.70
2017-05-31 1,461.20 658.80 285.90
2017-02-28 1,397.72 510.57 220.08
2016-11-30 1,421.30 697.00 311.60
2016-08-31 1,399.60 699.10 328.90
2016-05-31 1,381.20 789.00 340.60
2016-02-29 1,333.61 614.90 349.72
2015-11-30 1,355.80 637.30 444.60
2015-08-31 1,344.00 638.00 466.70
2015-05-31 1,313.20 650.60 500.60
2015-02-28 1,258.95 650.21 400.94
2014-11-30 1,260.00 670.90 487.70
2014-08-31 1,242.80 671.10 511.30
2014-05-31 1,219.50 704.70 525.50
2014-02-28 1,164.14 707.93 428.85
2013-11-30 1,180.40 728.40 493.80
2013-08-31 1,168.50 723.10 472.80
2013-05-31 1,124.40 725.90 423.90
2013-02-28 1,096.87 726.57 356.94
2012-11-30 1,123.30 765.20 492.20
2012-08-31 1,120.70 779.70 530.00
  • Hornbach Holding KGaA's level of debt (62.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (60.9% vs 62.4% today).
  • Debt is not well covered by operating cash flow (5.7%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.7x coverage).
X
Financial health checks
We assess Hornbach Holding KGaA'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. Hornbach Holding KGaA 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.

HBH Dividends

 What is Hornbach Holding KGaA'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
3.21%
Current annual income from Hornbach Holding KGaA dividends. Estimated to be 3.27% next year.
If you bought €2,000 of Hornbach Holding KGaA shares you are expected to receive €64 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?
  • Hornbach Holding KGaA's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.4%).
  • Hornbach Holding KGaA's dividend is below the markets top 25% of dividend payers in Austria (4.56%).
Upcoming dividend payment

Purchase Hornbach Holding KGaA before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:HBH 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 4 Analyst Estimates (S&P Global) See Below
Europe Specialty Retail Industry Average Dividend Yield Market Cap Weighted Average of 60 Stocks 3.9%
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 4.6%

Industry and Market average data is calculated daily.

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

WBAG:HBH Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-02-29
2023-02-28
2022-02-28 1.60 1.00
2021-02-28 1.53 4.00
2020-02-29 1.51 4.00
WBAG:HBH Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-05-20 1.500 3.301
2018-05-24 1.500 2.885
2017-05-29 1.500 2.045
2016-05-24 1.500 2.364

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

  • Whilst dividend payments have been stable, Hornbach Holding KGaA has been paying a dividend for less than 10 years.
  • Hornbach Holding KGaA has only been paying a dividend for 3 years, and since then there has been no growth.
Current Payout to shareholders
What portion of Hornbach Holding KGaA's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.4x coverage).
X
Income/ dividend checks
We assess Hornbach Holding KGaA'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 Hornbach Holding KGaA afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Hornbach Holding KGaA 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.

HBH Management

 What is the CEO of Hornbach Holding KGaA'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
Albrecht Hornbach
COMPENSATION €1,019,000
CEO Bio

Mr. Albrecht Hornbach serves as the Chairman of the Management Board at Hornbach Management AG, General Partner of Hornbach Holding AG & Co. KGaA. Mr. Hornbach serves as Head of DIY megastores with garden centers, Auditing, Construction, Public Relations of Hornbach Holding AG & Co. KGaA. He has been the Chairman of Supervisory Board at Hornbach Baumarkt AG since March 1, 2009. Mr. Hornbach has been Chairman of the Supervisory Board for Hornbach Immobilien AG, a wholly-owned subsidiary of Hornbach Holding AG & Co. KGaA since December 2008. He served as Director of Redcliffe Exploration Inc. since 2009. He serves as a Director of Inception Exploration Ltd. He served as a Member of the Management Board of Hornbach Immobilien AG. Mr. Hornbach holds graduate degree in civil engineering from the University of Karlsruhe, Germany.

CEO Compensation
  • Albrecht's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Albrecht's remuneration is about average for companies of similar size in Austria.
Management Team

Albrecht Hornbach

TITLE
Chairman of the Board of Mgmt - Hornbach Management AG
COMPENSATION
€1M

Roland Pelka

TITLE
Member of the Board of Management - Hornbach Management AG
COMPENSATION
€1M

Anne Spies

TITLE
Investor Relations Manager

Axel Müller

TITLE
Head of Group Communications

Florian Preuß

TITLE
Head of Public Relations
Board of Directors Tenure

Average tenure and age of the Hornbach Holding KGaA board of directors in years:

2.3
Average Tenure
44
Average Age
  • The average tenure for the Hornbach Holding KGaA board of directors is less than 3 years, this suggests a new board.
Board of Directors

John Feldmann

TITLE
Chairman of the Supervisory Board
COMPENSATION
€118K
AGE
69
TENURE
0.9 yrs

Martin Hornbach

TITLE
Deputy Chairman of Supervisory Board
COMPENSATION
€85K
TENURE
3.7 yrs

Melanie Thomann-Bopp

TITLE
Supervisory Board Member
COMPENSATION
€58K
AGE
40
TENURE
0.9 yrs

Susanne Wulfsberg

TITLE
Member of Supervisory Board
COMPENSATION
€44K
TENURE
5.9 yrs

Erich Harsch

TITLE
Member of Supervisory Board
COMPENSATION
€64K
TENURE
5.4 yrs

Simone Krah

TITLE
Supervisory Board Member
COMPENSATION
€21K
AGE
44
TENURE
0.9 yrs

Jens Wulfsberg

TITLE
Member of Supervisory Board of HORNBACH Management AG

Georg Hornbach

TITLE
Member of Supervisory Board of HORNBACH Management AG
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Hornbach Holding KGaA'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. Hornbach Holding KGaA 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.

HBH News

Simply Wall St News

HBH Company Info

Description

Hornbach Holding AG & Co. KGaA, through its subsidiaries, operates do-it-yourself (DIY) megastores with garden centers in Germany and other European countries. The company’s stores offer approximately 50,000 articles in various divisions, including hardware/electrical, paint/wallpaper/flooring, construction materials/timber/prefabricated components, sanitary/tiles, and garden. It also provides a range of construction materials and tools stocked and supply services, as well as professional advice for various product ranges and lines of trade, including shell construction and roofing; interior fittings and facades; and civil engineering, and garden and landscape construction materials for new construction, conversion, or refurbishment projects to customers in the primary and secondary construction trades, as well as private construction clients. In addition, the company develops and rents retail real estate properties. As of May 31, 2019, it operated 158 DIY retail outlets, including 97 stores in Germany; and 14 stores in Austria, 14 stores in the Netherlands, 1 store in Luxembourg, 10 stores in the Czech Republic, 7 stores in Switzerland, 6 stores in Sweden, 6 stores in Slovakia, and 6 stores in Romania. The company also operates 28 builders’ merchant outlets in south-western Germany; and two locations in France, as well as HORNBACH online store. Hornbach Holding AG & Co. KGaA was founded in 1877 and is based in Neustadt an der Weinstraße, Germany.

Details
Name: Hornbach Holding AG & Co. KGaA
HBH
Exchange: WBAG
Founded: 1877
€748,800,000
16,000,000
Website: http://www.hornbach-holding.de/de/
Address: Hornbach Holding AG & Co. KGaA
Le Quartier Hornbach 19,
Neustadt an der Weinstraße,
Rhineland-Palatinate, 67433,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
DB HBH Common Stock Deutsche Boerse AG DE EUR 09. Oct 2015
OTCPK HBBH.F Common Stock Pink Sheets LLC US USD 09. Oct 2015
XTRA HBH Common Stock XETRA Trading Platform DE EUR 09. Oct 2015
LSE 0RC9 Common Stock London Stock Exchange GB EUR 09. Oct 2015
SWX HBH3 Common Stock SIX Swiss Exchange CH CHF 09. Oct 2015
WBAG HBH Common Stock Wiener Boerse AG AT EUR 09. Oct 2015
BATS-CHIXE HBHD Common Stock BATS 'Chi-X Europe' GB EUR 09. Oct 2015
Number of employees
Current staff
Staff numbers
21,055
Hornbach Holding KGaA employees.
Industry
Home Improvement Retail
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/24 22:20
End of day share price update: 2019/06/24 00:00
Last estimates confirmation: 2019/06/19
Last earnings filing: 2019/05/20
Last earnings reported: 2019/02/28
Last annual earnings reported: 2019/02/28


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.