SWX:FI-N

Stock Analysis Report

Executive Summary

Georg Fischer AG, together with its subsidiaries, provides piping systems, casting, and machining solutions worldwide.


Snowflake Analysis

Excellent balance sheet and good value.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: FI-N's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

6.4%

FI-N

3.7%

CH Machinery

5.2%

CH Market


1 Year Return

-28.5%

FI-N

-13.8%

CH Machinery

-4.7%

CH Market

Return vs Industry: FI-N underperformed the Swiss Machinery industry which returned -13.8% over the past year.

Return vs Market: FI-N underperformed the Swiss Market which returned -4.7% over the past year.


Shareholder returns

FI-NIndustryMarket
7 Day6.4%3.7%5.2%
30 Day-18.5%-7.5%-6.3%
90 Day-31.9%-20.9%-12.7%
1 Year-26.8%-28.5%-11.3%-13.8%0.08%-4.7%
3 Year-21.2%-26.1%-3.0%-9.6%15.8%4.0%
5 Year6.6%-2.4%20.7%3.8%18.3%-0.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

48.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FI-N (CHF669) is trading below our estimate of fair value (CHF1310.23)

Significantly Below Fair Value: FI-N is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: FI-N is good value based on its PE Ratio (15.8x) compared to the Machinery industry average (18x).

PE vs Market: FI-N is good value based on its PE Ratio (15.8x) compared to the Swiss market (16.6x).


Price to Earnings Growth Ratio

PEG Ratio: FI-N is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: FI-N is overvalued based on its PB Ratio (2x) compared to the CH Machinery industry average (1.8x).


Next Steps

Future Growth

How is Georg Fischer forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

14.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FI-N's forecast earnings growth (14.3% per year) is above the savings rate (-0.6%).

Earnings vs Market: FI-N's earnings (14.3% per year) are forecast to grow faster than the Swiss market (8.5% per year).

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

Revenue vs Market: FI-N's revenue (1.5% per year) is forecast to grow slower than the Swiss market (2.3% per year).

High Growth Revenue: FI-N's revenue (1.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FI-N's Return on Equity is forecast to be low in 3 years time (14.9%).


Next Steps

Past Performance

How has Georg Fischer performed over the past 5 years?

6.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FI-N has high quality earnings.

Growing Profit Margin: FI-N's current net profit margins (4.6%) are lower than last year (6.1%).


Past Earnings Growth Analysis

Earnings Trend: FI-N's earnings have grown by 6.1% per year over the past 5 years.

Accelerating Growth: FI-N's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: FI-N had negative earnings growth (-38.4%) over the past year, making it difficult to compare to the Machinery industry average (0.5%).


Return on Equity

High ROE: FI-N's Return on Equity (12%) is considered low.


Next Steps

Financial Health

How is Georg Fischer's financial position?


Financial Position Analysis

Short Term Liabilities: FI-N's short term assets (CHF2.0B) exceed its short term liabilities (CHF1.0B).

Long Term Liabilities: FI-N's short term assets (CHF2.0B) exceed its long term liabilities (CHF894.0M).


Debt to Equity History and Analysis

Debt Level: FI-N's debt to equity ratio (47.4%) is considered high.

Reducing Debt: FI-N's debt to equity ratio has reduced from 66.6% to 47.4% over the past 5 years.

Debt Coverage: FI-N's debt is well covered by operating cash flow (46.6%).

Interest Coverage: FI-N's interest payments on its debt are well covered by EBIT (11.3x coverage).


Balance Sheet

Inventory Level: FI-N has a high level of physical assets or inventory.

Debt Coverage by Assets: FI-N's debt is covered by short term assets (assets are 2.9x debt).


Next Steps

Dividend

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

3.74%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: FI-N's dividend (3.74%) is higher than the bottom 25% of dividend payers in the Swiss market (2.11%).

High Dividend: FI-N's dividend (3.74%) is low compared to the top 25% of dividend payers in the Swiss market (4.24%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, FI-N has been paying a dividend for less than 10 years.

Growing Dividend: FI-N's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (59.2%), FI-N's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FI-N's dividends in 3 years are forecast to be well covered by earnings (41.9% payout ratio).


Next Steps

Management

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

8.0yrs

Average board tenure


CEO

Andreas Müller (49yo)

0.83

Tenure

CHF2,006,000

Compensation

Mr. Andreas Müller has been Chief Executive Officer, President and Head of Corporate Development at Georg Fischer AG since April 17, 2019. He was the Chief Financial Officer of Georg Fischer AG since Janua ...


CEO Compensation Analysis

Compensation vs Market: Andreas's total compensation ($USD2.09M) is about average for companies of similar size in the Swiss market ($USD1.94M).

Compensation vs Earnings: Insufficient data to compare Andreas's compensation with company performance.


Board Members

NamePositionTenureCompensationOwnership
Andreas Koopmann
Independent Chairman of the Board8.17yrsCHF589.00k0.075% CHF2.0m
Eveline Saupper
Independent Director5yrsCHF270.00k0.030% CHF814.2k
Riet Cadonau
Non-Executive Director4yrsCHF249.00k0.014% CHF371.4k
Yves Serra
Independent Vice Chairman0.83yrCHF181.00k0.13% CHF3.6m
Roman Boutellier
Independent Director21.17yrsCHF246.00k0.083% CHF2.3m
Zhiqiang Zhang
Independent Director15.17yrsCHF274.00k0.058% CHF1.6m
Jasmin Staiblin
Independent Director9yrsCHF249.00k0.033% CHF892.5k
Roger Michaelis
Independent Director8yrsCHF284.00k0.028% CHF773.4k
Hubert Achermann
Independent Director6.17yrsCHF309.00k0.021% CHF572.7k

8.0yrs

Average Tenure

61yo

Average Age

Experienced Board: FI-N's board of directors are considered experienced (8 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

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


Key Information

  • Name: Georg Fischer AG
  • Ticker: FI-N
  • Exchange: SWX
  • Founded: 1802
  • Industry: Industrial Machinery
  • Sector: Capital Goods
  • Market Cap: CHF2.739b
  • Shares outstanding: 4.09m
  • Website: https://www.georgfischer.com

Number of Employees


Location

  • Georg Fischer AG
  • Amsler-Laffon-Strasse 9
  • Schaffhausen
  • Schaffhausen
  • 8201
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GFINDB (Deutsche Boerse AG)YesRegistered SharesDEEURJan 1992
FI-NSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFJan 1992
0QP4LSE (London Stock Exchange)YesRegistered SharesGBCHFJan 1992

Biography

Georg Fischer AG, together with its subsidiaries, provides piping systems, casting, and machining solutions worldwide. The company’s GF Piping Systems segment offers plastic and metal piping systems for the transportation of water, gas, and other liquids, as well as corresponding services for industry, utilities, and building services sectors. This segment provides fittings, valves, pipes, and automation and jointing technologies for various water cycle applications. Its GF Casting segment develops and manufactures light metal and iron cast components and systems for use in the automotive industry, aerospace and energy markets, and off-highway vehicles, as well as for various industrial applications. The company’s GF Machining Solutions segment provides machines, system solutions, and customer services for manufacturing molds, tools, and parts in the aerospace, information and communication technology, medical, and automotive industries. This segment offers milling, wire-cutting, and die-sinking electric discharge machines; spindles; and laser texturing, additive manufacturing, tooling, and automation services, as well as digitalization solutions and customer services. The company was founded in 1802 and is headquartered in Schaffhausen, Switzerland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/31 23:01
End of Day Share Price2020/03/31 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.