SWX:CON

Stock Analysis Report

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Executive Summary

Conzzeta AG, through its subsidiaries, provides solutions for the processing of sheet metal and materials worldwide.


Snowflake Analysis

Flawless balance sheet with proven track record and pays a dividend.

Share Price & News

How has Conzzeta's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CON has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.6%

CON

3.8%

CH Machinery

1.2%

CH Market


1 Year Return

2.1%

CON

1.6%

CH Machinery

2.9%

CH Market

Return vs Industry: CON matched the Swiss Machinery industry which returned 1.7% over the past year.

Return vs Market: CON matched the Swiss Market which returned 3% over the past year.


Shareholder returns

CONIndustryMarket
7 Day-2.6%3.8%1.2%
30 Day2.2%7.0%2.5%
90 Day-12.6%2.0%-1.5%
1 Year11.1%2.1%5.1%1.6%6.3%2.9%
3 Year-1.9%-12.7%3.3%-5.0%15.9%4.1%
5 Year115.2%-5.5%37.1%16.0%28.4%6.9%

Price Volatility Vs. Market

How volatile is Conzzeta's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Conzzeta undervalued compared to its fair value and its price relative to the market?

13.9x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CON (CHF846) is trading above our estimate of fair value (CHF677.68)

Significantly Below Fair Value: CON is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: CON is good value based on its PE Ratio (13.9x) compared to the Machinery industry average (19.1x).

PE vs Market: CON is good value based on its PE Ratio (13.9x) compared to the Swiss market (19.2x).


Price to Earnings Growth Ratio

PEG Ratio: CON is poor value based on its PEG Ratio (2.4x)


Price to Book Ratio

PB vs Industry: CON is good value based on its PB Ratio (2x) compared to the CH Machinery industry average (2x).


Next Steps

Future Growth

How is Conzzeta forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

5.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CON's forecast earnings growth (5.8% per year) is above the savings rate (-0.2%).

Earnings vs Market: CON's earnings (5.8% per year) are forecast to grow slower than the Swiss market (8.5% per year).

High Growth Earnings: CON's earnings are forecast to grow, but not significantly.

Revenue vs Market: CON's revenue (0.2% per year) is forecast to grow slower than the Swiss market (2.4% per year).

High Growth Revenue: CON's revenue (0.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CON's Return on Equity is forecast to be low in 3 years time (10.5%).


Next Steps

Past Performance

How has Conzzeta performed over the past 5 years?

16.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CON has a large one-off gain of CHF62.1M impacting its December 31 2019 financial results.

Growing Profit Margin: CON's current net profit margins (8%) are higher than last year (5.4%).


Past Earnings Growth Analysis

Earnings Trend: CON's earnings have grown by 16% per year over the past 5 years.

Accelerating Growth: CON's earnings growth over the past year (30.2%) exceeds its 5-year average (16% per year).

Earnings vs Industry: CON earnings growth over the past year (30.2%) exceeded the Machinery industry 0.5%.


Return on Equity

High ROE: CON's Return on Equity (15.6%) is considered low.


Next Steps

Financial Health

How is Conzzeta's financial position?


Financial Position Analysis

Short Term Liabilities: CON's short term assets (CHF889.1M) exceed its short term liabilities (CHF329.8M).

Long Term Liabilities: CON's short term assets (CHF889.1M) exceed its long term liabilities (CHF56.1M).


Debt to Equity History and Analysis

Debt Level: CON's debt to equity ratio (0.5%) is considered satisfactory.

Reducing Debt: CON's debt to equity ratio has reduced from 1.1% to 0.5% over the past 5 years.

Debt Coverage: CON's debt is well covered by operating cash flow (2383.3%).

Interest Coverage: CON's interest payments on its debt are well covered by EBIT (37.9x coverage).


Balance Sheet


Next Steps

Dividend

What is Conzzeta's current dividend yield, its reliability and sustainability?

2.13%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CON's dividend (2.13%) is higher than the bottom 25% of dividend payers in the Swiss market (1.93%).

High Dividend: CON's dividend (2.13%) is low compared to the top 25% of dividend payers in the Swiss market (3.91%).


Stability and Growth of Payments

Stable Dividend: CON's dividend payments have been volatile in the past 10 years.

Growing Dividend: CON's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (29.6%), CON's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CON's dividends in 3 years are forecast to be covered by earnings (52.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.7yrs

Average management tenure


CEO

Michael Willome (53yo)

4.33yrs

Tenure

CHF1,791,800

Compensation

Mr. Michael Willome, lic. oec. HSG has been Group Chief Executive Officer of Conzzeta AG since January 1, 2016. Mr. Willome serves as Director at Glaston Oyj Abp since May 28, 2020. Mr. Willome served as H ...


CEO Compensation Analysis

Compensation vs Market: Michael's total compensation ($USD1.86M) is above average for companies of similar size in the Swiss market ($USD1.25M).

Compensation vs Earnings: Michael's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Michael Willome
Group Chief Executive Officer4.33yrsCHF1.79m0.082% CHF1.4m
Kaspar Kelterborn
Group Chief Financial Officer14.33yrsno data0.043% CHF747.8k
Michael Stäheli
Head of Investor Relations & Corporate Communicationsno datano datano data
Barbara Senn
General Counsel10.17yrsno data0.020% CHF352.0k
Alex Waser
Chief Executive Officer of Bystronic7yrsno data0.046% CHF797.8k
Oliver Pabst
Chief Executive Officer of Mammut3.58yrsno data0.019% CHF332.4k
Michael Riedel
Chief Executive Officer of FoamPartner2.33yrsno data0.019% CHF335.0k

5.7yrs

Average Tenure

52.5yo

Average Age

Experienced Management: CON's management team is seasoned and experienced (5.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Robert Spoerry
Director24.33yrsCHF131.30k0.61% CHF10.6m
Jacob Schmidheiny
Director43.33yrsCHF114.20k6.27% CHF109.7m
Philip Mosimann
Vice Chairman13yrsCHF145.80k0.045% CHF789.3k
Matthias Auer
Director24.33yrsCHF124.70k1.4% CHF24.4m
Roland Abt
Director6yrsCHF153.60k0.012% CHF217.4k
Ernst Bärtschi
Chairman of the Board of Directors6yrsCHF482.90k0.077% CHF1.4m
Urs Riedener
Director6yrsCHF142.40k0.012% CHF217.4k
Michael König
Director1yrCHF131.30kno data

9.5yrs

Average Tenure

64.5yo

Average Age

Experienced Board: CON's board of directors are considered experienced (9.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Conzzeta AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Conzzeta AG
  • Ticker: CON
  • Exchange: SWX
  • Founded:
  • Industry: Industrial Machinery
  • Sector: Capital Goods
  • Market Cap: CHF1.748b
  • Shares outstanding: 2.07m
  • Website: https://www.conzzeta.com

Number of Employees


Location

  • Conzzeta AG
  • Giesshuebelstrasse 45
  • Zurich
  • Zurich
  • 8045
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CONSWX (SIX Swiss Exchange)YesSeries A Registered SharesCHCHFNov 1992
0QW1LSE (London Stock Exchange)YesSeries A Registered SharesGBCHFNov 1992
HNX1DB (Deutsche Boerse AG)YesSeries A Registered SharesDEEURNov 1992

Biography

Conzzeta AG, through its subsidiaries, provides solutions for the processing of sheet metal and materials worldwide. The company offers laser cutting machinery and press brakes. It also provides automation systems and integrated software solutions, as well as maintenance and support services; and sells and installs machinery and spare parts. The company is based in Zurich, Switzerland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/31 20:57
End of Day Share Price2020/05/29 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.