Carlo Gavazzi Holding
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Carlo Gavazzi Holding AG, together with its subsidiaries, designs, manufactures, and markets electronic control components for industrial and building automation markets. The last earnings update was 117 days ago. More info.
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GAV Share Price and Events
7 Day Returns
1 Year Returns
GAV Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Carlo Gavazzi Holding (GAV) | -1.9% | -6.5% | 9.4% | -25.1% | 25.1% | 15.2% |
| CH Electrical | 1.9% | -1.2% | 1.6% | -13.1% | 5.8% | -9.6% |
| CH Market | 1.5% | 2.8% | 11.6% | 3.6% | 16% | 9.5% |
1 Year Return vs Industry and Market
- GAV underperformed the Electrical industry which returned -13.1% over the past year.
- GAV underperformed the Market in Switzerland which returned 3.6% over the past year.
Value
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
Carlo Gavazzi Holding
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Carlo Gavazzi Holding.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 2 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 9.8% |
| Perpetual Growth Rate | 10-Year CH Government Bond Rate | 3.3% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year CH Govt Bond Rate | 3.3% |
| Equity Risk Premium | S&P Global | 6% |
| Electrical Unlevered Beta | Simply Wall St/ S&P Global | 1.14 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.142 (1 + (1- 18%) (0%)) |
1.095 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.1 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.28% + (1.095 * 5.96%) |
9.8% |
Discounted Cash Flow Calculation for SWX:GAV using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Carlo Gavazzi Holding 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.
| Levered FCF (CHF, Millions) | Source |
Present Value Discounted (@ 9.8%) |
|
|---|---|---|---|
| 2019 | 7.04 | Analyst x1 | 6.41 |
| 2020 | 9.73 | Analyst x1 | 8.07 |
| 2021 | 11.10 | Analyst x1 | 8.39 |
| 2022 | 12.24 | Est @ 10.2% | 8.42 |
| 2023 | 13.23 | Est @ 8.12% | 8.29 |
| 2024 | 14.11 | Est @ 6.67% | 8.05 |
| 2025 | 14.91 | Est @ 5.65% | 7.75 |
| 2026 | 15.65 | Est @ 4.94% | 7.40 |
| 2027 | 16.34 | Est @ 4.44% | 7.04 |
| 2028 | 17.01 | Est @ 4.09% | 6.68 |
| Present value of next 10 years cash flows | CHF76.49 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= CHF17.01 × (1 + 3.28%) ÷ (9.8% – 3.28%) |
CHF269.05 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= CHF269.05 ÷ (1 + 9.8%)10 |
CHF105.60 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= CHF76.49 + CHF105.60 |
CHF182.09 |
| Equity Value per Share (CHF) |
= Total value / Shares Outstanding
= CHF182.09 / 0.71 |
CHF256.21 |
| Calculation | Result | |
|---|---|---|
| Value per share (CHF) | From above. | CHF256.21 |
| Current discount | Discount to share price of
CHF257.00
= -1 x (CHF257.00 - CHF256.21) / CHF256.21 |
-0.3% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Carlo Gavazzi Holding is above its future cash flow value.
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 Carlo Gavazzi Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Carlo Gavazzi Holding's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-09-30) in CHF | CHF12.58 |
| SWX:GAV Share Price ** | SWX (2019-03-19) in CHF | CHF257 |
| Europe Electrical Industry PE Ratio | Median Figure of 51 Publicly-Listed Electrical Companies | 18.56x |
| Switzerland Market PE Ratio | Median Figure of 176 Publicly-Listed Companies | 18x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Carlo Gavazzi Holding.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = SWX:GAV Share Price ÷ EPS (both in CHF) = 257 ÷ 12.58 |
20.42x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Carlo Gavazzi Holding is overvalued based on earnings compared to the Europe Electrical industry average.
- Carlo Gavazzi Holding is overvalued based on earnings compared to the Switzerland market.
Price based on expected Growth
Does
Carlo Gavazzi Holding's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 20.42x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts |
3.2%per year |
| Europe Electrical Industry PEG Ratio | Median Figure of 28 Publicly-Listed Electrical Companies | 1.71x |
| Switzerland Market PEG Ratio | Median Figure of 123 Publicly-Listed Companies | 2.29x |
*Line of best fit is calculated by linear regression .
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to calculate PEG ratio for Carlo Gavazzi Holding, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Carlo Gavazzi Holding's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-09-30) in CHF | CHF131.17 |
| SWX:GAV Share Price * | SWX (2019-03-19) in CHF | CHF257 |
| Switzerland Electrical Industry PB Ratio | Median Figure of 5 Publicly-Listed Electrical Companies | 2.06x |
| Switzerland Market PB Ratio | Median Figure of 209 Publicly-Listed Companies | 1.65x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = SWX:GAV Share Price ÷ Book Value per Share (both in CHF) = 257 ÷ 131.17 |
1.96x |
* Primary Listing of Carlo Gavazzi Holding.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Carlo Gavazzi Holding is good value based on assets compared to the CH Electrical industry average.
Value checks
We assess Carlo Gavazzi Holding's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Electrical industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Electrical industry average (and greater than 0)? (1 check) Carlo Gavazzi Holding 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
- No analysts cover Carlo Gavazzi Holding, future earnings growth has been estimated based on fundamentals.
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!
Earnings growth vs Low Risk Savings
- Carlo Gavazzi Holding's earnings growth is positive but not above the low risk savings rate of 3.3%.
Growth vs Market Checks
- Carlo Gavazzi Holding's earnings growth is positive but not above the Switzerland market average.
- Carlo Gavazzi Holding's revenue growth is expected to exceed the Switzerland market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| SWX:GAV Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts | 3.2% |
| SWX:GAV Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts | 3.6% |
| Europe Electrical Industry Earnings Growth Rate | Market Cap Weighted Average | 19.9% |
| Europe Electrical Industry Revenue Growth Rate | Market Cap Weighted Average | 4.6% |
| Switzerland Market Earnings Growth Rate | Market Cap Weighted Average | 9% |
| Switzerland Market Revenue Growth Rate | Market Cap Weighted Average | 3.5% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (5 months ago) | See Below |
| Future Estimates | Average of up to 2 Analyst Estimates (S&P Global) | See Below |
| Date (Data in CHF Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-03-31 | 180 | 1 | ||
| 2022-03-31 | 175 | 1 | ||
| 2021-03-31 | 173 | 15 | 2 | |
| 2020-03-31 | 166 | 13 | 2 | |
| 2019-03-31 | 157 | 11 | 1 |
| Date (Data in CHF Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-09-30 | 152 | 11 | 9 |
| 2018-06-30 | 150 | 12 | 9 |
| 2018-03-31 | 147 | 13 | 8 |
| 2017-12-31 | 143 | 13 | 10 |
| 2017-09-30 | 140 | 12 | 11 |
| 2017-06-30 | 138 | 13 | 12 |
| 2017-03-31 | 135 | 14 | 13 |
| 2016-12-31 | 134 | 13 | 13 |
| 2016-09-30 | 132 | 12 | 12 |
| 2016-06-30 | 131 | 13 | 11 |
| 2016-03-31 | 130 | 13 | 10 |
| 2015-12-31 | 131 | 14 | 10 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (5 months ago) | See Below |
| Future Estimates | Average of up to 2 Analyst Estimates (S&P Global) | See Below |
All data from Carlo Gavazzi Holding Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in CHF Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-03-31 | ||||
| 2022-03-31 | ||||
| 2021-03-31 | ||||
| 2020-03-31 | ||||
| 2019-03-31 |
| Date (Data in CHF Millions) | EPS * |
|---|---|
| 2018-09-30 | 12.58 |
| 2018-06-30 | 12.20 |
| 2018-03-31 | 11.81 |
| 2017-12-31 | 13.76 |
| 2017-09-30 | 15.72 |
| 2017-06-30 | 17.28 |
| 2017-03-31 | 18.84 |
| 2016-12-31 | 17.98 |
| 2016-09-30 | 17.12 |
| 2016-06-30 | 15.35 |
| 2016-03-31 | 13.58 |
| 2015-12-31 | 14.59 |
*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.
- Carlo Gavazzi Holding is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
Future performance checks
We assess Carlo Gavazzi Holding's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Carlo Gavazzi Holding 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 Carlo Gavazzi Holding 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
Past Earnings growth analysis
- Carlo Gavazzi Holding's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
- Carlo Gavazzi Holding's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Carlo Gavazzi Holding's 1-year earnings growth is negative, it can't be compared to the Europe Electrical industry average.
Earnings and Revenue History
All data from Carlo Gavazzi Holding Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in CHF Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-09-30 | 152.50 | 8.94 | 59.45 | 8.83 |
| 2018-06-30 | 149.67 | 8.67 | 58.38 | 8.58 |
| 2018-03-31 | 146.85 | 8.40 | 57.30 | 8.33 |
| 2017-12-31 | 143.24 | 9.78 | 55.69 | 7.66 |
| 2017-09-30 | 139.63 | 11.17 | 54.08 | 6.98 |
| 2017-06-30 | 137.53 | 12.28 | 53.69 | 6.87 |
| 2017-03-31 | 135.43 | 13.39 | 53.30 | 6.76 |
| 2016-12-31 | 133.55 | 12.78 | 52.99 | 6.76 |
| 2016-09-30 | 131.66 | 12.17 | 52.68 | 6.75 |
| 2016-06-30 | 130.91 | 10.91 | 52.22 | 6.56 |
| 2016-03-31 | 130.15 | 9.65 | 51.75 | 6.37 |
| 2015-12-31 | 130.74 | 10.37 | 51.83 | 6.29 |
| 2015-09-30 | 131.32 | 11.09 | 51.91 | 6.20 |
| 2015-06-30 | 134.25 | 11.68 | 53.28 | 6.36 |
| 2015-03-31 | 137.18 | 12.27 | 54.65 | 6.52 |
| 2014-12-31 | 138.73 | 12.02 | 55.14 | 6.36 |
| 2014-09-30 | 140.29 | 11.77 | 55.63 | 6.20 |
| 2014-06-30 | 140.42 | 11.46 | 55.71 | 6.18 |
| 2014-03-31 | 140.55 | 11.16 | 55.80 | 6.17 |
| 2013-12-31 | 140.24 | 11.14 | 55.44 | 6.28 |
| 2013-09-30 | 139.93 | 11.12 | 55.08 | 6.40 |
| 2013-06-30 | 139.13 | 11.82 | 54.70 | 6.23 |
| 2013-03-31 | 138.34 | 12.53 | 54.32 | 6.06 |
| 2012-12-31 | 138.15 | 13.94 | 54.60 | 5.83 |
| 2012-09-30 | 137.96 | 15.36 | 54.89 | 5.60 |
| 2012-06-30 | 140.36 | 16.06 | 55.09 | 5.69 |
| 2012-03-31 | 142.76 | 16.75 | 55.30 | 5.77 |
*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.
- Carlo Gavazzi Holding has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Carlo Gavazzi Holding used its assets more efficiently than the Europe Electrical industry average last year based on Return on Assets.
- Carlo Gavazzi Holding's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Carlo Gavazzi Holding's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Electrical industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Carlo Gavazzi Holding has a total score of 1/6, 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 Carlo Gavazzi Holding'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 Carlo Gavazzi Holding's finances.
The net worth of a company is the difference between its assets and liabilities.
- Carlo Gavazzi Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Carlo Gavazzi Holding's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Carlo Gavazzi Holding has no debt, it does not need to be covered by short term assets.
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.
All data from Carlo Gavazzi Holding Company Filings, last reported 5 months ago.
| Date (Data in CHF Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-09-30 | 93.22 | 0.00 | 40.56 |
| 2018-06-30 | 93.22 | 0.00 | 40.56 |
| 2018-03-31 | 99.26 | 0.00 | 50.74 |
| 2017-12-31 | 99.26 | 0.00 | 50.74 |
| 2017-09-30 | 92.22 | 0.00 | 41.76 |
| 2017-06-30 | 92.22 | 0.00 | 41.76 |
| 2017-03-31 | 95.17 | 0.09 | 49.07 |
| 2016-12-31 | 95.17 | 0.09 | 49.07 |
| 2016-09-30 | 88.75 | 0.09 | 42.41 |
| 2016-06-30 | 88.75 | 0.09 | 42.41 |
| 2016-03-31 | 91.40 | 0.20 | 46.70 |
| 2015-12-31 | 91.40 | 0.20 | 46.70 |
| 2015-09-30 | 86.25 | 0.29 | 41.39 |
| 2015-06-30 | 86.25 | 0.29 | 41.39 |
| 2015-03-31 | 88.49 | 0.77 | 45.82 |
| 2014-12-31 | 88.49 | 0.77 | 45.82 |
| 2014-09-30 | 90.04 | 0.81 | 43.13 |
| 2014-06-30 | 90.04 | 0.81 | 43.13 |
| 2014-03-31 | 93.25 | 1.05 | 47.11 |
| 2013-12-31 | 93.25 | 1.05 | 47.11 |
| 2013-09-30 | 87.57 | 1.12 | 39.45 |
| 2013-06-30 | 87.57 | 1.12 | 39.45 |
| 2013-03-31 | 101.26 | 0.91 | 52.92 |
| 2012-12-31 | 101.26 | 0.91 | 52.92 |
| 2012-09-30 | 94.07 | 2.64 | 48.63 |
| 2012-06-30 | 94.07 | 2.64 | 48.63 |
| 2012-03-31 | 96.31 | 1.62 | 50.87 |
- Carlo Gavazzi Holding has no debt.
- Carlo Gavazzi Holding has no debt compared to 5 years ago when it was 1.3%.
- Carlo Gavazzi Holding has no debt, it does not need to be covered by operating cash flow.
- Carlo Gavazzi Holding has no debt, therefore coverage of interest payments is not a concern.
Financial health checks
We assess Carlo Gavazzi Holding's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Carlo Gavazzi Holding has a total score of 6/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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 Carlo Gavazzi Holding'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
If you bought
CHF2,000 of
Carlo Gavazzi Holding
shares you are expected to receive
CHF93
in your first year as a dividend.
Dividend Amount
- Carlo Gavazzi Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Switzerland (1.93%).
- Carlo Gavazzi Holding's dividend is above the markets top 25% of dividend payers in Switzerland (3.6%).
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.
| 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 2 Analyst Estimates (S&P Global) | See Below |
| Europe Electrical Industry Average Dividend Yield | Market Cap Weighted Average of 40 Stocks | 3.3% |
| Switzerland Market Average Dividend Yield | Market Cap Weighted Average of 165 Stocks | 3.1% |
| Switzerland Minimum Threshold Dividend Yield | 10th Percentile | 1.3% |
| Switzerland Bottom 25% Dividend Yield | 25th Percentile | 1.9% |
| Switzerland Top 25% Dividend Yield | 75th Percentile | 3.6% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in CHF) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-03-31 | ||
| 2022-03-31 | ||
| 2021-03-31 | 15.50 | 2.00 |
| 2020-03-31 | 14.50 | 2.00 |
| 2019-03-31 | 12.00 | 1.00 |
| Date (Data in CHF) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2018-07-31 | 12.000 | 4.380 |
| 2017-07-25 | 15.000 | 4.419 |
| 2016-07-26 | 12.000 | 4.454 |
| 2015-07-02 | 12.000 | 5.538 |
| 2015-06-25 | 12.000 | 5.180 |
| 2014-07-29 | 12.000 | 5.404 |
| 2013-07-03 | 10.000 | 4.535 |
| 2012-06-28 | 12.000 | 5.912 |
| 2011-06-27 | 10.000 | 4.991 |
| 2010-06-21 | 5.000 | 2.722 |
| 2009-03-31 | 5.000 | 3.798 |
| 2009-03-20 | 10.000 | 11.239 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
Carlo Gavazzi Holding's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are not well covered by earnings (1x coverage).
- Dividends after 3 years are expected to be covered by earnings (1.2x coverage).
Income/ dividend checks
We assess Carlo Gavazzi Holding's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Carlo Gavazzi Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Carlo Gavazzi Holding has a total score of 5/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | CHF665,000 |
| TENURE AS CEO | 9.8 years |
CEO Bio
Mr. Vittorio Rossi has been the Chief Executive Officer of Automation Components Business at Carlo Gavazzi Holding AG since June 2009. Mr. Rossi professional career during 20 years with the Siemens Group up to the position of Chief Executive Officer and chairman of Siemens Italy. In 2005, he became Chief Executive Officer of Gewiss SpA, a company active in electrical equipment and systems, listed on the Milan stock exchange. Mr. Rossi graduated as electrical engineer from the Politecnico of Milan.
CEO Compensation
- Vittorio's compensation has been consistent with company performance over the past year.
- Vittorio's remuneration is about average for companies of similar size in Switzerland.
Management Team Tenure
Average tenure of the Carlo Gavazzi Holding management team in years:
- The average tenure for the Carlo Gavazzi Holding management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Anthony Goldstein
Chief Financial Officer
CHF233K
11.7 yrs
Vittorio Rossi
Chief Executive Officer of Automation Components Business Unit
CHF665K
9.8 yrs
Raoul Bussmann
Secretary to the Board
9.7 yrs
Board of Directors Tenure
Average tenure and age of the Carlo Gavazzi Holding board of directors in years:
- The tenure for the Carlo Gavazzi Holding board of directors is about average.
Board of Directors
Valeria Gavazzi
Chairman
9.7 yrs
Stefano Trovati
Vice Chairman
CHF131K
47
Daniel Hirschi
Director
CHF139K
62
9.2 yrs
Federico Foglia
Director
CHF77K
49
15.2 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (CHF) | Value (CHF) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Carlo Gavazzi Holding's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Carlo Gavazzi Holding 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 Carlo Gavazzi Holding AG (VTX:GAV) Creating Value For Shareholders?
In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Understanding Return On Capital Employed (ROCE). … ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business.
Simply Wall St - – Full articleIs Carlo Gavazzi Holding AG's (VTX:GAV) High P/E Ratio A Problem For Investors?
We'll look at Carlo Gavazzi Holding AG's (VTX:GAV) P/E ratio and reflect on what it tells us about the company's share price. … Based on the last twelve months, Carlo Gavazzi Holding's P/E ratio is 21.3. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleDid You Miss Carlo Gavazzi Holding's 31% Share Price Gain?
One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During the three years of share price growth, Carlo Gavazzi Holding actually saw its earnings per share (EPS) drop 10.0% per year. … It's much more likely that the fact that Carlo Gavazzi Holding has been growing revenue at 5.5% a year is seen as a genuine positive.
Simply Wall St - – Full articleIs Carlo Gavazzi Holding AG's (VTX:GAV) CEO Overpaid Relative To Its Peers?
Vittorio Rossi has been the CEO of Carlo Gavazzi Holding AG (VTX:GAV) since 2009. … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Vittorio Rossi's Compensation Compare With Similar Sized Companies?
Simply Wall St - – Full articleHow Much Of Carlo Gavazzi Holding AG (VTX:GAV) Do Insiders Own?
The big shareholder groups in Carlo Gavazzi Holding AG (VTX:GAV) have power over the company. … Carlo Gavazzi Holding is not a large company by global standards. … View our latest analysis for Carlo Gavazzi Holding
Simply Wall St - – Full articleHow Good Is Carlo Gavazzi Holding AG (VTX:GAV), When It Comes To ROE?
This article is for those who would like to learn about Return On Equity (ROE). … Our data shows Carlo Gavazzi Holding has a return on equity of 9.6% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleWant To Invest In Carlo Gavazzi Holding AG (VTX:GAV)? Here's How It Performed Lately
In this commentary, I will examine Carlo Gavazzi Holding AG's (VTX:GAV) latest earnings update (30 September 2018) and compare these figures against its performance over the past couple of years, as well as how the rest of the electrical industry performed. … GAV's trailing twelve-month earnings (from 30 September 2018) of CHF8.9m has? … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of -3.3%, indicating the rate at which GAV is growing has slowed down
Simply Wall St - – Full articleIs Carlo Gavazzi Holding AG's (VTX:GAV) Balance Sheet A Threat To Its Future?
Carlo Gavazzi Holding AG (VTX:GAV), which has zero-debt on its balance sheet, can maximize capital returns by increasing debt due to its lower cost of capital. … Is GAV right in choosing financial flexibility over lower cost of capital. … There are well-known benefits of including debt in capital structure, primarily a lower cost of capital
Simply Wall St - – Full articleShould Carlo Gavazzi Holding AG (VTX:GAV) Be Part Of Your Dividend Portfolio?
Historically, Carlo Gavazzi Holding AG (VTX:GAV) has paid a dividend to shareholders. … Let's take a look at Carlo Gavazzi Holding in more detail. … Check out our latest analysis for Carlo Gavazzi Holding
Simply Wall St - – Full articleDo You Know Carlo Gavazzi Holding AG’s (VTX:GAV) Cash Situation?
Two important questions to ask before you buy Carlo Gavazzi Holding AG (VTX:GAV) is, how it makes money and how it spends its cash. … Free cash flow (FCF) is the amount of cash Carlo Gavazzi Holding has left after it pays off its expenses, including its net capital expenditures, which is what the company needs to spend each year to maintain or grow its business operations. … The two ways to assess whether Carlo Gavazzi Holding’s FCF is sufficient, is to compare the FCF yield to the market index yield, as well as determine whether the top-line operating cash flows will continue to grow
Simply Wall St - – Full articleCompany Info
Description
Carlo Gavazzi Holding AG, together with its subsidiaries, designs, manufactures, and markets electronic control components for industrial and building automation markets. The company’s products include sensors, monitoring relays, timers, energy management systems, solid state relays, electronic motor controllers, safety devices, and fieldbus systems. It also designs and manufactures signaling equipment and safety relays for the railways market. The company offers its products to original equipment manufacturers of packaging machines, plastic injection molding machines, agriculture machines, food and beverage production, conveying and material handling equipment, door and entrance control systems, lifts, and escalators, as well as heating, ventilation, and air conditioning devices. It markets its products through a network of sales companies and independent distributors, as well as through system integrators in Europe, the Middle East, Africa, North America, and the Asia-Pacific. Carlo Gavazzi Holding AG was founded in 1931 and is headquartered in Steinhausen, Switzerland.
Details
| Name: | Carlo Gavazzi Holding AG |
| GAV | |
| Exchange: | SWX |
| Founded: | 1931 |
| CHF187,627,440 | |
| 710,710 | |
| Website: | http://www.carlogavazzi.com |
| Address: |
Carlo Gavazzi Holding AG Sumpfstrasse 3, Steinhausen, Zug, 6312, Switzerland |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| SWX | GAV | Bearer Shares | SIX Swiss Exchange | CH | CHF | 10. Jan 1992 | |
| DB | D9N | Bearer Shares | Deutsche Boerse AG | DE | EUR | 10. Jan 1992 | |
| LSE | 0QL5 | Bearer Shares | London Stock Exchange | GB | CHF | 10. Jan 1992 | |
| BATS-CHIXE | GAVZ | Bearer Shares | BATS 'Chi-X Europe' | GB | CHF | 10. Jan 1992 |
Number of employees
Current staff
Industry
| Electrical Components and Equipment | |
| Capital Goods |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/03/19 20:40 |
| End of day share price update: | 2019/03/19 00:00 |
| Last estimates confirmation: | 2019/03/08 |
| Last earnings filing: | 2018/11/22 |
| Last earnings reported: | 2018/09/30 |
| 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.
