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Gemalto

WBAG:GTO
Snowflake Description

Excellent balance sheet with reasonable growth potential.

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

Gemalto N.V. provides digital security products and services worldwide. The last earnings update was 47 days ago. More info.


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GTO Share Price and Events
7 Day Returns
0%
WBAG:GTO
4.1%
Europe Software
1.4%
AT Market
1 Year Returns
2.6%
WBAG:GTO
19.3%
Europe Software
-7%
AT Market
GTO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Gemalto (GTO) 0% 0.1% 0.5% 2.6% - -
Europe Software 4.1% 5.6% 19.8% 19.3% 49.7% 88.3%
AT Market 1.4% 0.4% 10.9% -7% 41% 21.6%
1 Year Return vs Industry and Market
  • GTO underperformed the Software industry which returned 19.3% over the past year.
  • GTO outperformed the Market in Austria which returned -7% over the past year.
Price Volatility
GTO
Industry
5yr Volatility vs Market

Value

 Is Gemalto 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 Gemalto 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 Gemalto.

WBAG:GTO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.6%
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:GTO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6%
Software Unlevered Beta Simply Wall St/ S&P Global 1.14
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.136 (1 + (1- 25%) (17.6%))
1.191
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.19
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (1.191 * 5.96%)
7.61%

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

The calculations below outline how an intrinsic value for Gemalto 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:GTO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 7.61%)
2019 216.10 Analyst x1 200.82
2020 250.40 Analyst x2 216.24
2021 270.29 Est @ 7.94% 216.91
2022 285.73 Est @ 5.71% 213.08
2023 297.59 Est @ 4.15% 206.23
2024 306.69 Est @ 3.06% 197.51
2025 313.73 Est @ 2.29% 187.76
2026 319.25 Est @ 1.76% 177.55
2027 323.67 Est @ 1.38% 167.28
2028 327.30 Est @ 1.12% 157.19
Present value of next 10 years cash flows €1,940.56
WBAG:GTO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €327.30 × (1 + 0.51%) ÷ (7.61% – 0.51%)
€4,633.54
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €4,633.54 ÷ (1 + 7.61%)10
€2,225.35
WBAG:GTO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €1,940.56 + €2,225.35
€4,165.91
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €4,165.91 / 90.72
€45.92
WBAG:GTO Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in WBAG:GTO represents 1.00098x of ENXTAM:GTO
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00098x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 45.92 x 1.00098
€45.97
Value per share (EUR) From above. €45.97
Current discount Discount to share price of €51.00
= -1 x (€51.00 - €45.97) / €45.97
-11%

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

  • The current share price of Gemalto 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 Gemalto's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Gemalto's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:GTO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.68
ENXTAM:GTO Share Price ** ENXTAM (2019-04-02) in EUR €50.95
Europe Software Industry PE Ratio Median Figure of 137 Publicly-Listed Software Companies 27.9x
Austria Market PE Ratio Median Figure of 50 Publicly-Listed Companies 15.41x

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

** Primary Listing of Gemalto.

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

= ENXTAM:GTO Share Price ÷ EPS (both in EUR)

= 50.95 ÷ 0.68

75.46x

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

  • Gemalto is overvalued based on earnings compared to the Europe Software industry average.
  • Gemalto is overvalued based on earnings compared to the Austria market.
Price based on expected Growth
Does Gemalto's expected growth come at a high price?
Raw Data
WBAG:GTO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 75.46x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
42.2%per year
Europe Software Industry PEG Ratio Median Figure of 79 Publicly-Listed Software Companies 1.92x
Austria Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 1.24x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 75.46x ÷ 42.2%

1.79x

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

  • Gemalto is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Gemalto's assets?
Raw Data
WBAG:GTO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €25.04
ENXTAM:GTO Share Price * ENXTAM (2019-04-02) in EUR €50.95
Europe Software Industry PB Ratio Median Figure of 239 Publicly-Listed Software Companies 2.75x
Austria Market PB Ratio Median Figure of 59 Publicly-Listed Companies 1.19x
WBAG:GTO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTAM:GTO Share Price ÷ Book Value per Share (both in EUR)

= 50.95 ÷ 25.04

2.03x

* Primary Listing of Gemalto.

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

  • Gemalto is good value based on assets compared to the Europe Software industry average.
X
Value checks
We assess Gemalto'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 Software 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 Software industry average (and greater than 0)? (1 check)
  5. Gemalto has a total score of 1/6, 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 Gemalto expected to perform in the next 1 to 3 years based on estimates from 5 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
42.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Gemalto expected to grow at an attractive rate?
  • Gemalto's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Gemalto's earnings growth is expected to exceed the Austria market average.
  • Gemalto's revenue growth is expected to exceed the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:GTO Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:GTO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 42.2%
WBAG:GTO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 4%
Europe Software Industry Earnings Growth Rate Market Cap Weighted Average 15.2%
Europe Software Industry Revenue Growth Rate Market Cap Weighted Average 8.3%
Austria Market Earnings Growth Rate Market Cap Weighted Average 8.9%
Austria Market Revenue Growth Rate Market Cap Weighted Average 3.3%

*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:GTO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WBAG:GTO Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 3,281 283 1
2020-12-31 3,242 473 246 5
2019-12-31 3,085 372 200 4
WBAG:GTO Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 2,969 306 61
2018-09-30 2,967 314 57
2018-06-30 2,966 322 53
2018-03-31 2,969 332 -186
2017-12-31 2,972 342 -424
2017-09-30 2,998 389 -385
2017-06-30 3,024 437 -345
2017-03-31 3,075 448 -80
2016-12-31 3,127 458 186
2016-09-30 3,122 456 182
2016-06-30 3,118 454 178
2016-03-31 3,120 405 157

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Gemalto's earnings are expected to grow significantly at over 20% yearly.
  • Gemalto's revenue is expected to grow by 4% 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:GTO 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 5 Analyst Estimates (S&P Global) See Below

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

WBAG:GTO Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 3.02 3.40 2.42 3.00
2019-12-31 2.14 2.14 2.14 1.00
WBAG:GTO Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.68
2018-09-30 0.63
2018-06-30 0.58
2018-03-31 -2.06
2017-12-31 -4.72
2017-09-30 -4.29
2017-06-30 -3.86
2017-03-31 -0.90
2016-12-31 2.09
2016-09-30 2.06
2016-06-30 2.02
2016-03-31 1.79

*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.
  • Gemalto is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Gemalto'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.
Gemalto has a total score of 4/6, 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 Gemalto 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 Gemalto's growth in the last year to its industry (Software).
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.
  • Gemalto's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Gemalto has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Gemalto has become profitable in the last year making it difficult to compare the Europe Software industry average.
Earnings and Revenue History
Gemalto'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 Gemalto Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:GTO 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 2,968.69 61.08 634.08 187.25
2018-09-30 2,967.15 56.83 636.77 186.15
2018-06-30 2,965.61 52.58 639.47 185.04
2018-03-31 2,968.66 -185.66 643.42 184.92
2017-12-31 2,971.72 -423.91 647.37 184.80
2017-09-30 2,997.96 -384.61 636.44 186.66
2017-06-30 3,024.21 -345.31 625.50 188.53
2017-03-31 3,075.37 -79.79 627.52 188.54
2016-12-31 3,126.53 185.73 629.54 188.55
2016-09-30 3,122.08 181.92 634.28 187.69
2016-06-30 3,117.62 178.12 639.01 186.82
2016-03-31 3,119.59 157.44 637.35 187.60
2015-12-31 3,121.56 136.77 635.68 188.38
2015-09-30 2,976.38 163.84 601.26 178.77
2015-06-30 2,831.21 190.91 566.85 169.16
2015-03-31 2,648.18 205.78 525.78 156.43
2014-12-31 2,465.16 220.65 484.72 143.71
2014-09-30 2,426.40 221.47 485.71 144.38
2014-06-30 2,387.63 222.30 486.71 145.04
2014-03-31 2,388.12 240.10 479.36 144.23
2013-12-31 2,388.61 257.90 472.01 143.42
2013-09-30 2,373.83 240.95 469.91 144.78
2013-06-30 2,359.05 224.01 467.81 146.15
2013-03-31 2,302.27 212.52 466.00 143.64
2012-12-31 2,245.50 201.04 464.18 141.14
2012-09-30 2,176.46 187.67 454.34 134.40
2012-06-30 2,107.41 174.31 444.49 127.66

*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.
  • Gemalto has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Gemalto used its assets less efficiently than the Europe Software industry average last year based on Return on Assets.
  • Gemalto's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Gemalto'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 Software 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.
Gemalto 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.

Health

 How is Gemalto'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 Gemalto's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Gemalto is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Gemalto's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Gemalto'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 covered by short term assets, assets are 1.9x 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 Gemalto Company Filings, last reported 3 months ago.

WBAG:GTO Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,274.31 813.45 261.61
2018-09-30 2,274.31 813.45 261.61
2018-06-30 2,191.17 884.42 251.13
2018-03-31 2,191.17 884.42 251.13
2017-12-31 2,179.33 1,004.77 320.68
2017-09-30 2,179.33 1,004.77 320.68
2017-06-30 2,146.66 1,076.79 238.59
2017-03-31 2,146.66 1,076.79 238.59
2016-12-31 2,675.45 730.61 663.52
2016-09-30 2,675.45 730.61 663.52
2016-06-30 2,535.00 736.43 402.79
2016-03-31 2,535.00 736.43 402.79
2015-12-31 2,489.53 742.34 407.66
2015-09-30 2,489.53 742.34 407.66
2015-06-30 2,363.06 778.69 288.93
2015-03-31 2,363.06 778.69 288.93
2014-12-31 2,396.16 566.18 1,059.57
2014-09-30 2,396.16 566.18 1,059.57
2014-06-30 2,173.99 10.02 372.66
2014-03-31 2,173.99 10.02 372.66
2013-12-31 2,153.45 6.91 456.37
2013-09-30 2,153.45 6.91 456.37
2013-06-30 1,978.70 9.11 286.54
2013-03-31 1,978.70 9.11 286.54
2012-12-31 1,932.31 10.24 358.61
2012-09-30 1,932.31 10.24 358.61
2012-06-30 1,747.52 16.28 311.82
  • Gemalto's level of debt (35.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0.3% vs 35.8% today).
  • Debt is well covered by operating cash flow (37.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 11.6x coverage).
X
Financial health checks
We assess Gemalto'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. Gemalto has a total score of 5/6, 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 Gemalto'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
0%
Current annual income from Gemalto dividends. Estimated to be 0.69% next year.
If you bought €2,000 of Gemalto shares you are expected to receive €0 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?
  • Unable to evaluate Gemalto's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Gemalto's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:GTO 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 5 Analyst Estimates (S&P Global) See Below
Europe Software Industry Average Dividend Yield Market Cap Weighted Average of 78 Stocks 1.4%
Austria Market Average Dividend Yield Market Cap Weighted Average of 49 Stocks 3.5%
Austria Minimum Threshold Dividend Yield 10th Percentile 1.1%
Austria Bottom 25% Dividend Yield 25th Percentile 1.5%
Austria Top 25% Dividend Yield 75th Percentile 5.1%

Industry and Market average data is calculated daily.

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

WBAG:GTO Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.51 1.00
2020-12-31 0.42 5.00
2019-12-31 0.26 5.00
WBAG:GTO Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-14 0.000 0.000
2018-08-31 0.000 0.000
2018-08-30 0.000 0.000
2018-03-02 0.000 0.000
2017-05-18 0.500 1.158
2016-04-04 0.470 0.852
2015-03-05 0.420 0.639
2014-03-05 0.380 0.528
2013-03-13 0.340 0.449
2012-03-07 0.310 0.508
2011-03-09 0.280 0.807
2010-03-04 0.250 0.785

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

  • Unable to perform a dividend volatility check as Gemalto has not reported any payouts.
  • Unable to verify if Gemalto's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Gemalto's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Gemalto has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Gemalto's dividends in 3 years as they are not expected to pay a notable one for Austria.
X
Income/ dividend checks
We assess Gemalto'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 Gemalto afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Gemalto has a total score of 0/6, 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 Gemalto'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
Philippe Vallée
COMPENSATION €3,473,331
AGE 54
TENURE AS CEO 2.6 years
CEO Bio

Mr. Philippe Vallée has been Chief Executive Officer of Gemalto NV since September 1, 2016 and has been its Executive Director since September 1, 2016. Mr. Vallée served as the Chief Operating Officer of Gemalto NV from January 2014 to August 2016. He served as an Executive Vice President of Telecommunications Business Unit at Gemalto NV since 2007 until 2013. He oversees the strategy and new product development and introductions for the Telecommunication businesses as well as the innovation process and Intellectual property management for the Group. Mr. Vallée has 15 years of experience in the smart card industry and has served in various marketing, product management and sales capacities. He served as the Chief Technology Officer and Executive Vice President of Product and Marketing at Gemplus International SA since January 9, 2006. Mr. Vallée served as an Executive Vice President of Telecom Business Unit at Gemplus International SA since February 2002. He is also employed at GemVentures. Mr. Vallée served as the Vice-President, Marketing of the Telecom Business Unit from May 2001 to February 2002. He was based in Singapore as an Executive Vice President of Gemplus Technologies Asia and headed the marketing and development activities, as well as professional services operations of Gemplus Asia Pacific. Prior to that, he served as a Product Manager for the first generation of GSM mobile phones for Matra Communications (now Lagardère Group) in France from 1989 to 1992. He serves as a Director of Solomio Corporation. He has been a Director of Macheen, Inc. since September 2012. Mr. Vallée holds has a Bachelor's degree in Electronics and Telecommunications Engineering and a Master of Science in Marketing Management from ESSEC.

CEO Compensation
  • Philippe's compensation has increased in line with Gemalto recently becoming profitable.
  • Insufficient data for Philippe to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

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

2.3
Average Tenure
55
Average Age
  • The tenure for the Gemalto management team is about average.
Management Team

Philippe Vallée

TITLE
CEO & Executive Director
COMPENSATION
€3M
AGE
54
TENURE
2.6 yrs

Virginie Dupérat-Vergne

TITLE
Chief Financial Officer
AGE
43
TENURE
1.3 yrs

Eva Rudin

TITLE
Executive Vice President of Central Operations
AGE
50
TENURE
0.3 yrs

Serge Barbe

TITLE
Chief Technology Officer
AGE
55
TENURE
2.2 yrs

Jean-Claude Deturche

TITLE
Head Of Investor Relations

Jean-Pierre Charlet

TITLE
Executive VP of Legal & Company Secretary
AGE
65
TENURE
2.2 yrs

Isabelle Marand

TITLE
Executive Vice President of Corporate Communication
AGE
52
TENURE
5.3 yrs

Martin McCourt

TITLE
Chief Marketing Officer and Executive VP of Strategy & M&A
AGE
56
TENURE
2.3 yrs

Philippe Cabanettes

TITLE
Executive VP of Human Resources
AGE
63
TENURE
12.8 yrs

Philip Cambriel

TITLE
Executive VP of Corporate Projects & France
AGE
60
TENURE
13.3 yrs
Board of Directors Tenure

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

7.9
Average Tenure
61.5
Average Age
  • The tenure for the Gemalto board of directors is about average.
Board of Directors

Alex Mandl

TITLE
Independent Non-Executive Chairman
COMPENSATION
€265K
AGE
75
TENURE
12.8 yrs

Philippe Vallée

TITLE
CEO & Executive Director
COMPENSATION
€3M
AGE
54
TENURE
2.6 yrs

Johannes Fritz

TITLE
Non-Executive Independent Director
COMPENSATION
€93K
AGE
64
TENURE
12.8 yrs

Philippe Alfroid

TITLE
Non-Executive Independent Director
COMPENSATION
€97K
AGE
73
TENURE
8.9 yrs

Joop Drechsel

TITLE
Independent Non-Executive Director
COMPENSATION
€112K
AGE
63
TENURE
3.9 yrs

Olivier Piou

TITLE
Non-Executive Non-Independent Director
COMPENSATION
€407K
AGE
60
TENURE
15.2 yrs

Buford Alexander

TITLE
Non-Executive Independent Director
COMPENSATION
€86K
AGE
69
TENURE
9.9 yrs

Yen Yen Tan

TITLE
Non-Executive Independent Director
COMPENSATION
€86K
AGE
53
TENURE
6.9 yrs

Homaira Akbari

TITLE
Non-Executive Independent Director
COMPENSATION
€94K
AGE
57
TENURE
5.9 yrs

Jill Smith

TITLE
Non-Executive Independent Director
COMPENSATION
€94K
AGE
60
TENURE
1.9 yrs
Who owns this company?
Recent Insider Trading
  • Gemalto insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
29. Mar 19 Sell Olivier Piou Individual 29. Mar 19 29. Mar 19 -473,999 €51.00 €-24,173,949
29. Mar 19 Sell Alex Mandl Individual 29. Mar 19 29. Mar 19 -10,000 €51.00 €-510,000
X
Management checks
We assess Gemalto'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. Gemalto 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

Gemalto N.V. provides digital security products and services worldwide. The company operates through two segments, Identity, IoT & Cybersecurity; and Smartcards & Issuance. It designs security solutions to governments, industrial companies, and enterprises; and ePassports, border and visa management, biometrics, ID and health cards, voter and vehicle registration, drivers’ licenses, and eGovernment support services. The company also offers machine-to-machine, and Internet of Things solutions and services; encrypting data, securing identities, and managing access services; and software licensing solutions. In addition, it provides smart card products and solutions to financial institutions, retail, transport, and mobile network operators; and secures digital banking and payment apps and services, as well as protects company and customer data through encryption. Further, the company offers ID verification solutions, mobile and Assurance Hub technologies solutions, trusted services hub services. Additionally, it licenses its intellectual property and provides security and other technology advisory services. The company was formerly known as Axalto Holding N.V. and changed its name to Gemalto N.V. in June 2006. Gemalto N.V. was incorporated in 2002 and is headquartered in Amsterdam, the Netherlands.

Details
Name: Gemalto N.V.
GTO
Exchange: WBAG
Founded: 2002
€4,622,148,895
90,719,311
Website: http://www.gemalto.com
Address: Gemalto N.V.
Barbara Strozzilaan 382,
Amsterdam,
Noord-Holland, 1083 HN,
Netherlands
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTAM GTO Common Stock Euronext Amsterdam NL EUR 18. May 2004
OTCPK GTOF.F Common Stock Pink Sheets LLC US USD 18. May 2004
DB LDV Common Stock Deutsche Boerse AG DE EUR 18. May 2004
LSE 0OGA Common Stock London Stock Exchange GB EUR 18. May 2004
WBAG GTO Common Stock Wiener Boerse AG AT EUR 18. May 2004
BATS-CHIXE GTOA Common Stock BATS 'Chi-X Europe' GB EUR 18. May 2004
OTCPK GTOM.Y SPONS ADR EACH REPR 1/2 ORD SHS Pink Sheets LLC US USD 13. Oct 2008
DB LDVA SPONS ADR EACH REPR 1/2 ORD SHS Deutsche Boerse AG DE EUR 13. Oct 2008
Number of employees
Current staff
Staff numbers
15,000
Gemalto employees.
Industry
Application Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/02 22:03
End of day share price update: 2019/04/02 00:00
Last estimates confirmation: 2019/04/01
Last earnings filing: 2019/02/14
Last earnings reported: 2018/12/31
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.