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AT & S Austria Technologie & Systemtechnik

WBAG:ATS
Snowflake Description

Good value with adequate balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ATS
WBAG
€681M
Market Cap
  1. Home
  2. AT
  3. Tech
Company description

AT & S Austria Technologie & Systemtechnik Aktiengesellschaft, together with its subsidiaries, manufactures and distributes printed circuit boards (PCBs) worldwide. The last earnings update was 83 days ago. More info.


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ATS Share Price and Events
7 Day Returns
4.4%
WBAG:ATS
1.4%
Europe Electronic
1.2%
AT Market
1 Year Returns
-19.7%
WBAG:ATS
0.8%
Europe Electronic
-3.1%
AT Market
ATS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
AT & S Austria Technologie & Systemtechnik (ATS) 4.4% 12.3% 0.8% -19.7% 41.5% 116.6%
Europe Electronic 1.4% 7.6% 14.7% 0.8% 36.8% 80%
AT Market 1.2% 6.8% 9.3% -3.1% 44.7% 32.6%
1 Year Return vs Industry and Market
  • ATS underperformed the Electronic industry which returned 0.8% over the past year.
  • ATS underperformed the Market in Austria which returned -3.1% over the past year.
Price Volatility
ATS
Industry
5yr Volatility vs Market

Value

 Is AT & S Austria Technologie & Systemtechnik 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 AT & S Austria Technologie & Systemtechnik 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 AT & S Austria Technologie & Systemtechnik.

WBAG:ATS 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 11.2%
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:ATS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6.5%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.07
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.066 (1 + (1- 25%) (113.02%))
1.649
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.65
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (1.649 * 6.51%)
11.25%

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

The calculations below outline how an intrinsic value for AT & S Austria Technologie & Systemtechnik 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:ATS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 11.25%)
2019 34.05 Analyst x2 30.61
2020 45.67 Analyst x3 36.90
2021 81.53 Analyst x3 59.22
2022 125.85 Analyst x2 82.17
2023 132.65 Analyst x2 77.85
2024 141.30 Analyst x1 74.54
2025 147.75 Est @ 4.56% 70.07
2026 152.70 Est @ 3.35% 65.09
2027 156.51 Est @ 2.5% 59.97
2028 159.48 Est @ 1.9% 54.93
Present value of next 10 years cash flows €611.36
WBAG:ATS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €159.48 × (1 + 0.51%) ÷ (11.25% – 0.51%)
€1,492.97
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,492.97 ÷ (1 + 11.25%)10
€514.25
WBAG:ATS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €611.36 + €514.25
€1,125.61
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,125.61 / 38.85
€28.97
WBAG:ATS Discount to Share Price
Calculation Result
Value per share (EUR) From above. €28.97
Current discount Discount to share price of €17.54
= -1 x (€17.54 - €28.97) / €28.97
39.5%

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

Current Discount
Amount off the current price AT & S Austria Technologie & Systemtechnik is available for.
Intrinsic value
39%
Share price is €17.54 vs Future cash flow value of €28.97
Current Discount Checks
For AT & S Austria Technologie & Systemtechnik to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • AT & S Austria Technologie & Systemtechnik's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • AT & S Austria Technologie & Systemtechnik'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 AT & S Austria Technologie & Systemtechnik's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are AT & S Austria Technologie & Systemtechnik's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:ATS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €2.39
WBAG:ATS Share Price ** WBAG (2019-04-23) in EUR €17.54
Europe Electronic Industry PE Ratio Median Figure of 109 Publicly-Listed Electronic Companies 17.55x
Austria Market PE Ratio Median Figure of 52 Publicly-Listed Companies 14.56x

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

** Primary Listing of AT & S Austria Technologie & Systemtechnik.

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

= WBAG:ATS Share Price ÷ EPS (both in EUR)

= 17.54 ÷ 2.39

7.35x

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

  • AT & S Austria Technologie & Systemtechnik is good value based on earnings compared to the Europe Electronic industry average.
  • AT & S Austria Technologie & Systemtechnik is good value based on earnings compared to the Austria market.
Price based on expected Growth
Does AT & S Austria Technologie & Systemtechnik's expected growth come at a high price?
Raw Data
WBAG:ATS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.35x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
-4.3%per year
Europe Electronic Industry PEG Ratio Median Figure of 74 Publicly-Listed Electronic Companies 1.63x
Austria Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 1.24x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.35x ÷ -4.3%

-1.69x

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

  • AT & S Austria Technologie & Systemtechnik 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 AT & S Austria Technologie & Systemtechnik's assets?
Raw Data
WBAG:ATS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €20.09
WBAG:ATS Share Price * WBAG (2019-04-23) in EUR €17.54
Europe Electronic Industry PB Ratio Median Figure of 171 Publicly-Listed Electronic Companies 1.9x
Austria Market PB Ratio Median Figure of 60 Publicly-Listed Companies 1.24x
WBAG:ATS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= WBAG:ATS Share Price ÷ Book Value per Share (both in EUR)

= 17.54 ÷ 20.09

0.87x

* Primary Listing of AT & S Austria Technologie & Systemtechnik.

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

  • AT & S Austria Technologie & Systemtechnik is good value based on assets compared to the Europe Electronic industry average.
X
Value checks
We assess AT & S Austria Technologie & Systemtechnik'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 Electronic 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 Electronic industry average (and greater than 0)? (1 check)
  5. AT & S Austria Technologie & Systemtechnik 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.

Future Performance

 How is AT & S Austria Technologie & Systemtechnik 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
-4.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is AT & S Austria Technologie & Systemtechnik expected to grow at an attractive rate?
  • AT & S Austria Technologie & Systemtechnik'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
  • AT & S Austria Technologie & Systemtechnik's earnings are expected to decrease over the next 1-3 years, this is below the Austria market average.
  • AT & S Austria Technologie & Systemtechnik's revenue growth is expected to exceed the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:ATS Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:ATS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts -4.3%
WBAG:ATS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 7.1%
Europe Electronic Industry Earnings Growth Rate Market Cap Weighted Average 12.4%
Europe Electronic Industry Revenue Growth Rate Market Cap Weighted Average 6.9%
Austria Market Earnings Growth Rate Market Cap Weighted Average 9.1%
Austria Market Revenue Growth Rate Market Cap Weighted Average 2.6%

*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:ATS 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:ATS Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31
2023-03-31
2022-03-31
2021-03-31 1,177 232 75 5
2020-03-31 1,080 214 63 5
2019-03-31 1,020 190 76 4
WBAG:ATS Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 1,016 175 93
2018-09-30 1,023 158 89
2018-06-30 1,014 197 76
2018-03-31 992 143 54
2017-12-31 966 241 44
2017-09-30 914 193 7
2017-06-30 836 99 -20
2017-03-31 815 136 -23
2016-12-31 794 24 -24
2016-09-30 762 68 -1
2016-06-30 747 87 23
2016-03-31 763 137 56

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • AT & S Austria Technologie & Systemtechnik's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • AT & S Austria Technologie & Systemtechnik's revenue is expected to grow by 7.1% 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:ATS 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 AT & S Austria Technologie & Systemtechnik Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:ATS Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31
2023-03-31
2022-03-31
2021-03-31 1.94 2.24 1.52 5.00
2020-03-31 1.66 2.02 1.45 5.00
2019-03-31 1.91 2.04 1.73 5.00
WBAG:ATS Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 2.39
2018-09-30 2.30
2018-06-30 1.96
2018-03-31 1.38
2017-12-31 1.13
2017-09-30 0.19
2017-06-30 -0.53
2017-03-31 -0.59
2016-12-31 -0.62
2016-09-30 -0.02
2016-06-30 0.58
2016-03-31 1.44

*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.
  • AT & S Austria Technologie & Systemtechnik is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess AT & S Austria Technologie & Systemtechnik'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.
AT & S Austria Technologie & Systemtechnik has a total score of 1/6, 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 AT & S Austria Technologie & Systemtechnik 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 AT & S Austria Technologie & Systemtechnik's growth in the last year to its industry (Electronic).
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.
  • AT & S Austria Technologie & Systemtechnik's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • AT & S Austria Technologie & Systemtechnik's 1-year earnings growth exceeds its 5-year average (111.7% vs -0.3%)
  • AT & S Austria Technologie & Systemtechnik's earnings growth has exceeded the Europe Electronic industry average in the past year (111.7% vs 12.6%).
Earnings and Revenue History
AT & S Austria Technologie & Systemtechnik'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 AT & S Austria Technologie & Systemtechnik Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:ATS 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 1,016.06 92.69 69.55
2018-09-30 1,023.02 89.40 71.91
2018-06-30 1,014.29 76.33 70.98
2018-03-31 991.84 53.63 72.91
2017-12-31 965.74 43.79 68.66
2017-09-30 914.08 7.38 64.86
2017-06-30 835.68 -20.49 60.66
2017-03-31 814.91 -22.90 58.22
2016-12-31 793.61 -23.93 58.31
2016-09-30 762.26 -0.95 60.79
2016-06-30 747.35 22.70 64.23
2016-03-31 762.88 55.95 64.36
2015-12-31 761.93 79.13 65.86
2015-09-30 752.06 82.93 63.69
2015-06-30 720.09 81.33 62.30
2015-03-31 667.01 69.28 60.93
2014-12-31 628.38 58.04 57.78
2014-09-30 592.05 44.64 57.15
2014-06-30 588.68 39.13 56.50
2014-03-31 589.91 38.17 55.04
2013-12-31 587.50 39.39 52.33
2013-09-30 586.84 34.45 49.88
2013-06-30 558.18 20.67 48.04
2013-03-31 541.67 14.57 47.02
2012-12-31 547.55 10.25 47.99
2012-09-30 527.07 14.63 47.73
2012-06-30 529.75 24.93 47.47

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

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

WBAG:ATS Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 780.45 770.12 633.12
2018-09-30 738.31 806.96 609.49
2018-06-30 743.60 542.38 328.11
2018-03-31 711.39 539.88 331.43
2017-12-31 699.13 544.85 327.63
2017-09-30 492.56 580.68 144.76
2017-06-30 485.24 558.52 61.59
2017-03-31 540.09 592.87 213.27
2016-12-31 546.79 617.99 166.00
2016-09-30 531.93 681.34 242.06
2016-06-30 553.53 650.82 308.35
2016-03-31 568.94 522.97 261.27
2015-12-31 599.65 619.38 426.86
2015-09-30 575.13 408.84 214.32
2015-06-30 601.07 409.12 271.43
2015-03-31 604.36 405.31 275.68
2014-12-31 502.80 404.33 250.52
2014-09-30 465.14 402.10 222.01
2014-06-30 402.61 396.10 263.52
2014-03-31 390.68 371.94 261.63
2013-12-31 396.23 215.25 102.86
2013-09-30 316.43 305.40 102.77
2013-06-30 306.73 298.66 99.23
2013-03-31 304.84 298.50 81.42
2012-12-31 289.23 296.75 44.51
2012-09-30 292.76 313.15 57.79
2012-06-30 300.08 319.39 75.50
  • AT & S Austria Technologie & Systemtechnik's level of debt (98.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (54.8% vs 98.7% today).
  • Debt is well covered by operating cash flow (22.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 13.7x coverage).
X
Financial health checks
We assess AT & S Austria Technologie & Systemtechnik'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. AT & S Austria Technologie & Systemtechnik has a total score of 4/6, 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 AT & S Austria Technologie & Systemtechnik'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
2.05%
Current annual income from AT & S Austria Technologie & Systemtechnik dividends. Estimated to be 2.25% next year.
If you bought €2,000 of AT & S Austria Technologie & Systemtechnik shares you are expected to receive €41 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?
  • AT & S Austria Technologie & Systemtechnik's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.47%).
  • AT & S Austria Technologie & Systemtechnik's dividend is below the markets top 25% of dividend payers in Austria (4.59%).
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:ATS 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 Electronic Industry Average Dividend Yield Market Cap Weighted Average of 92 Stocks 1.7%
Austria Market Average Dividend Yield Market Cap Weighted Average of 50 Stocks 3.3%
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 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:ATS Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-03-31
2023-03-31
2022-03-31
2021-03-31 0.42 5.00
2020-03-31 0.37 5.00
2019-03-31 0.33 4.00
WBAG:ATS Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-06-06 0.360 2.036
2017-06-14 0.100 0.609
2017-04-18 0.100 1.043
2016-07-27 0.360 3.548
2016-07-07 0.360 3.400
2015-08-07 0.360 2.781
2015-06-18 0.360 2.484
2014-07-03 0.200 1.882
2013-06-13 0.200 2.580
2012-07-20 0.320 4.376
2011-06-30 0.360 3.938
2010-05-31 0.100 0.755
2009-06-02 0.180 3.154
2009-04-24 0.340 8.919

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of AT & S Austria Technologie & Systemtechnik's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (6.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4.6x coverage).
X
Income/ dividend checks
We assess AT & S Austria Technologie & Systemtechnik'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 AT & S Austria Technologie & Systemtechnik afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. AT & S Austria Technologie & Systemtechnik has a total score of 4/6, see the detailed checks below.


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

Management

 What is the CEO of AT & S Austria Technologie & Systemtechnik'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
Andreas Gerstenmayer
COMPENSATION €1,156,000
AGE 53
TENURE AS CEO 9.2 years
CEO Bio

Mr. Andreas Gerstenmayer has been the Chairman of the Board of Management and Chief Executive Officer of AT&S Austria Technologie & Systemtechnik Aktiengesellschaft since February 1, 2010. Mr. Gerstenmayer’s managerial responsibilities include sales and marketing, human resources, investor relations, PR and internal communication and business development and strategy. He is responsible for the implementation and supervision the implementation of the decisions and resolutions of the Management Board, the Supervisory Board and the Annual General Meeting. Mr. Gerstenmayer was a Partner of FOCUSON Business Consulting GmbH since January 2009. He served as Managing Director and Chief Executive Officer of the Business Unit Bogies Graz (world headquarters) at Siemens Transportation Systems GmbH from 2003 to 2008. From 1990 to 2003, he served at Siemens AG, working first in lighting and then holding various management positions in it, those include: Business Unit Transportation Systems: Project Manager of International Restructuring Programmes, Erlangen, Germany from 2000 to 2003; from 1997 to 2000 Business Unit Bogies: Head of Production, Purchasing and Logistics, Graz, Austria and from 1990 to 1997 Business Unit Lighting Technology: i.a. Team Leader, Quality Planning and Head of Product Unit Humidity Protected Luminaires, Traunreut, Germany. His known languages are German and English. He has been Chairman of the Styrian Council of Research Graz, Austria since 2012. He is a Graduate Engineer (Dipl. Ing.) in Mechanical Engineering/studied Production Engineering from University of Applied Sciences Rosenheim, Rosenheim, Germany from 1985 to 1990.

CEO Compensation
  • Andreas's compensation has increased by more than 20% in the past year.
  • Andreas's remuneration is about average for companies of similar size in Austria.
Management Team Tenure

Average tenure and age of the AT & S Austria Technologie & Systemtechnik management team in years:

5.5
Average Tenure
53
Average Age
  • The average tenure for the AT & S Austria Technologie & Systemtechnik management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Andreas Gerstenmayer

TITLE
Chairman of Management Board & CEO
COMPENSATION
€1M
AGE
53
TENURE
9.2 yrs

Monika Stoisser-Göhring

TITLE
Deputy Chairwoman of the Management Board & CFO
COMPENSATION
€702K
AGE
49
TENURE
1.8 yrs

Heinz Moitzi

TITLE
COO & Member of Management Board
COMPENSATION
€822K
AGE
62
TENURE
14 yrs

Gerda Königstorfer

TITLE
Director of Investor Relations & Communications
TENURE
1 yrs

Marina Konrad

TITLE
Head of Corporate Communications
Board of Directors Tenure

Average tenure and age of the AT & S Austria Technologie & Systemtechnik board of directors in years:

10.6
Average Tenure
68
Average Age
  • The average tenure for the AT & S Austria Technologie & Systemtechnik board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Hannes Androsch

TITLE
Chairman of Supervisory Board
COMPENSATION
€93K
AGE
80

Willi Dörflinger

TITLE
First Deputy Chairman of Supervisory Board
COMPENSATION
€69K
AGE
68

Regina Prehofer

TITLE
Second Deputy Chairman of Supervisory Board
COMPENSATION
€70K
AGE
62

Georg Riedl

TITLE
Member of Supervisory Board
COMPENSATION
€51K
AGE
59
TENURE
19.9 yrs

Albert Hochleitner

TITLE
Member of Supervisory Board
COMPENSATION
€45K
AGE
78
TENURE
13.8 yrs

Karl Fink

TITLE
Member of Supervisory Board
COMPENSATION
€46K
AGE
73
TENURE
13.8 yrs

Günther Wölfler

TITLE
Employee Representative Member of Supervisory Board
AGE
58
TENURE
9.8 yrs

Wolfgang Fleck

TITLE
Employee Representative Member of Supervisory Board
AGE
56
TENURE
10.6 yrs

Gerhard Pichler

TITLE
Member of Supervisory Board
COMPENSATION
€48K
AGE
70
TENURE
9.8 yrs

Karin Schaupp

TITLE
Member of the Supervisory Board
COMPENSATION
€45K
AGE
68
TENURE
7.8 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 AT & S Austria Technologie & Systemtechnik'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. AT & S Austria Technologie & Systemtechnik 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

Is Now An Opportune Moment To Examine AT & S Austria Technologie & Systemtechnik Aktiengesellschaft (VIE:ATS)?

AT & S Austria Technologie & Systemtechnik Aktiengesellschaft (VIE:ATS), which is in the electronic business, and is based in Austria,. … As a stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … Let’s examine AT & S Austria Technologie & Systemtechnik’s valuation and outlook in more detail to determine if there’s still a bargain opportunity

Simply Wall St -

How Does AT & S Austria Technologie & Systemtechnik Aktiengesellschaft (VIE:ATS) Fare As A Dividend Stock?

Historically, AT & S Austria Technologie & Systemtechnik Aktiengesellschaft (VIE:ATS) has been paying a dividend to shareholders. … Let's dig deeper into whether AT & S Austria Technologie & Systemtechnik should have a place in your portfolio. … See our latest analysis for AT & S Austria Technologie & Systemtechnik

Simply Wall St -

What Kind Of Shareholder Owns Most AT & S Austria Technologie & Systemtechnik Aktiengesellschaft (VIE:ATS) Stock?

The big shareholder groups in AT & S Austria Technologie & Systemtechnik Aktiengesellschaft (VIE:ATS) have power over the company. … Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … AT & S Austria Technologie & Systemtechnik is a smaller company with a market capitalization of €598m, so it may still be flying under the radar of many institutional investors.

Simply Wall St -

Here's What AT & S Austria Technologie & Systemtechnik Aktiengesellschaft's (VIE:ATS) P/E Ratio Is Telling Us

We'll show how you can use AT & S Austria Technologie & Systemtechnik Aktiengesellschaft's (VIE:ATS) P/E ratio to inform your assessment of the investment opportunity. … AT & S Austria Technologie & Systemtechnik has a P/E ratio of 6.56, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Did AT & S Austria Technologie & Systemtechnik's Share Price Deserve to Gain 85%?

To wit, the AT & S Austria Technologie & Systemtechnik share price has climbed 85% in five years, easily topping the market return of 20% (ignoring dividends). … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … Over half a decade, AT & S Austria Technologie & Systemtechnik managed to grow its earnings per share at 10% a year.

Simply Wall St -

Why AT & S Austria Technologie & Systemtechnik Aktiengesellschaft (VIE:ATS) Could Have A Place In Your Portfolio

AT & S Austria Technologie & Systemtechnik Aktiengesellschaft (VIE:ATS) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … In the case of ATS, it

Simply Wall St -

AT & S Austria Technologie & Systemtechnik Aktiengesellschaft (VIE:ATS): Time For A Financial Health Check

Investors are always looking for growth in small-cap stocks like AT & S Austria Technologie & Systemtechnik Aktiengesellschaft (VIE:ATS), with a market cap of €665m. … However, an important fact which most ignore is: how financially healthy is the business?

Simply Wall St -

Should You Be Pleased About The CEO Pay At AT & S Austria Technologie & Systemtechnik Aktiengesellschaft's (VIE:ATS)

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … View our latest analysis for AT & S Austria Technologie & Systemtechnik … How Does Andreas Gerstenmayer's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Is AT & S Austria Technologie & Systemtechnik Aktiengesellschaft's (VIE:ATS) 13% ROE Strong Compared To Its Industry?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of AT & S Austria Technologie & Systemtechnik Aktiengesellschaft (VIE:ATS). … That means that for every €1 worth of shareholders' equity, it generated €0.13 in profit. … Check out our latest analysis for AT & S Austria Technologie & Systemtechnik?

Simply Wall St -

Should You Be Concerned About AT & S Austria Technologie & Systemtechnik Aktiengesellschaft's (VIE:ATS) Historical Volatility?

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful.

Simply Wall St -

Company Info

Description

AT & S Austria Technologie & Systemtechnik Aktiengesellschaft, together with its subsidiaries, manufactures and distributes printed circuit boards (PCBs) worldwide. It operates through three segments: Mobile Devices & Substrates; Automotive, Industrial, Medical; and Others. The company offers double sided standard, metal core, and copper inlay PCBs; multilayer standard, high frequency/low loss, and thick copper PCBs; high density interconnect (HDI) Microvia PCBs; HDI any-layer PCBs; flexible, semi-flexible, rigid-flexible, and HDI rigid flex PCBs; integrated circuit substrates; and insulated metallic substrates PCBs, as well as related services. It is also involved in embedding active and passive electronic components into printed circuit boards by using the embedded component packaging technology. The company distributes its products directly to original equipment and contract electronic manufacturers. AT & S Austria Technologie & Systemtechnik Aktiengesellschaft was founded in 1987 and is headquartered in Leoben, Austria.

Details
Name: AT & S Austria Technologie & Systemtechnik Aktiengesellschaft
ATS
Exchange: WBAG
Founded: 1987
€681,429,000
38,850,000
Website: http://www.ats.net
Address: AT & S Austria Technologie & Systemtechnik Aktiengesellschaft
Fabriksgasse 13,
Leoben-Hinterberg,
Leoben,
Styria, 8700,
Austria
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WBAG ATS Ordinary Shares Wiener Boerse AG AT EUR 16. Jul 1999
DB AUS Ordinary Shares Deutsche Boerse AG DE EUR 16. Jul 1999
XTRA AUS Ordinary Shares XETRA Trading Platform DE EUR 16. Jul 1999
LSE 0O5C Ordinary Shares London Stock Exchange GB EUR 16. Jul 1999
SWX ATS Ordinary Shares SIX Swiss Exchange CH CHF 16. Jul 1999
SEP ATS Ordinary Shares The Stock Exchange Prague Co. Ltd. CZ CZK 16. Jul 1999
BATS-CHIXE ATSV Ordinary Shares BATS 'Chi-X Europe' GB EUR 16. Jul 1999
Number of employees
Current staff
Staff numbers
10,052
AT & S Austria Technologie & Systemtechnik employees.
Industry
Electronic Components
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 21:18
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/15
Last earnings filing: 2019/01/30
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


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.