SWX:KLIN

Stock Analysis Report

Executive Summary

Klingelnberg AG engages in the development, manufacture, and sale of machines for the production of bevel and cylindrical gears, and measuring centers for axially symmetrical objects of various types worldwide.

Snowflake

Fundamentals

Excellent balance sheet and good value.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

1.8%

SWX:KLIN

-1.0%

CH Machinery

-0.08%

CH Market


1 Year Return

-39.1%

SWX:KLIN

-11.4%

CH Machinery

6.6%

CH Market

KLIN underperformed the Machinery industry which returned -11% over the past year.

KLIN underperformed the Market in Switzerland which returned 6.1% over the past year.


Share holder returns

KLINIndustryMarket
7 Day1.8%-1.0%-0.08%
30 Day-3.3%10.2%2.9%
90 Day-9.1%-0.6%0.8%
1 Year-37.0%-39.1%-8.9%-11.4%12.2%6.6%
3 Yearn/a27.3%18.4%32.3%15.4%
5 Yearn/a50.9%28.4%34.5%13.4%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Klingelnberg undervalued based on future cash flows and its price relative to the stock market?

12%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Klingelnberg's share price is below the future cash flow value, but not at a moderate discount (< 20%).

Klingelnberg's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

Klingelnberg is good value based on earnings compared to the CH Machinery industry average.

Klingelnberg is good value based on earnings compared to the Switzerland market.


Price Based on Expected Growth

Klingelnberg is good value based on expected growth next year.


Price Based on Value of Assets

Klingelnberg is good value based on assets compared to the CH Machinery industry average.


Next Steps

Future Growth

How is Klingelnberg expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

13.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Klingelnberg's revenue is expected to grow by 6.5% yearly, however this is not considered high growth (20% yearly).

Klingelnberg's earnings are expected to grow by 13.6% yearly, however this is not considered high growth (20% yearly).

Klingelnberg's revenue growth is expected to exceed the Switzerland market average.

Klingelnberg's earnings growth is expected to exceed the Switzerland market average.

Klingelnberg's earnings growth is expected to exceed the low risk savings rate of 3.3%.


Earnings per Share Growth Estimates


Future Return on Equity

Klingelnberg is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Klingelnberg performed over the past 5 years?

35.0%

Last years earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Insufficient data to establish if Klingelnberg's year on year earnings growth rate was positive over the past 5 years.

Unable to compare Klingelnberg's 1-year earnings growth to the 5-year average due to insufficient past data.

Klingelnberg's earnings growth has exceeded the CH Machinery industry average in the past year (35% vs -0.7%).


Return on Equity

Klingelnberg has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Klingelnberg used its assets more efficiently than the CH Machinery industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if Klingelnberg improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

How is Klingelnberg's financial position?


Financial Position Analysis

Klingelnberg is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Klingelnberg's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Klingelnberg's level of debt (4%) compared to net worth is satisfactory (less than 40%).

Unable to establish if Klingelnberg's debt level has increased without past 5-year debt data.

Debt is well covered by operating cash flow (427.2%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 55.9x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 29.3x debt.


Next Steps

Dividend

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

4.47%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Klingelnberg's pays a higher dividend yield than the bottom 25% of dividend payers in Switzerland (1.94%).

Klingelnberg's dividend is below the markets top 25% of dividend payers in Switzerland (3.71%).

It is too early to tell whether Klingelnberg has stable dividend payments.

Klingelnberg only just started paying a dividend, it is too early to tell if payments are increasing.


Current Payout to Shareholders

Dividends paid are well covered by earnings (2.5x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (2x coverage).


Next Steps

Management

What is the CEO of Klingelnberg's salary, the management and board of directors tenure and is there insider trading?

4.7yrs

Average management tenure


CEO

Jan Klingelnberg (48yo)

15.7yrs

Tenure

€805,138

Compensation

Mr. Jan Klingelnberg is the Chief Executive Officer of Klingelnberg AG since 2004. Mr. Klingelnberg serves as the Chief Executive Officer and Managing Director of Klingelnberg GmbH and served as its Chairm ...


CEO Compensation Analysis

Jan's remuneration is about average for companies of similar size in Switzerland.

Insufficient data for Jan to compare compensation growth.


Management Age and Tenure

4.7yrs

Average Tenure

48yo

Average Age

The tenure for the Klingelnberg management team is about average.


Board Age and Tenure

6.7yrs

Average Tenure

63yo

Average Age

The tenure for the Klingelnberg board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Jan Klingelnberg (48yo)

    Chief Executive Officer

    • Tenure: 15.7yrs
    • Compensation: €805.14k
  • Martin Boelter (58yo)

    Chief Operating Officer

    • Tenure: 4.7yrs
  • Christoph Küster (45yo)

    Chief Finance Officer

    • Tenure: 4.7yrs

Board Members

  • Jörg Wolle (62yo)

    Chairman of the Board

    • Tenure: 1.7yrs
    • Compensation: €164.97k
  • Roger Baillod (61yo)

    Director

    • Tenure: 1.3yrs
    • Compensation: €67.25k
  • Hans-Georg Härter (74yo)

    Director

    • Tenure: 11.7yrs
    • Compensation: €46.83k
  • Diether Klingelnberg (75yo)

    Director

    • Tenure: 28.7yrs
    • Compensation: €9.37k
  • Hans-Martin Schneeberger (64yo)

    Director

    • Tenure: 12.7yrs
    • Compensation: €58.33k
  • Michael Hilb (42yo)

    Director

    • Tenure: 1.3yrs
    • Compensation: €58.85k

Company Information

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


Key Information

  • Name: Klingelnberg AG
  • Ticker: KLIN
  • Exchange: SWX
  • Founded: 1863
  • Industry: Industrial Machinery
  • Sector: Capital Goods
  • Market Cap: CHF274.482m
  • Shares outstanding: 8.84m
  • Website: https://www.klingelnberg.com

Number of Employees


Location

  • Klingelnberg AG
  • Binzmuhlestrasse 171
  • Zurich
  • Zurich
  • 8005
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KLINSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFJun 2018
2MKDB (Deutsche Boerse AG)YesRegistered SharesDEEURJun 2018

Biography

Klingelnberg AG engages in the development, manufacture, and sale of machines for the production of bevel and cylindrical gears, and measuring centers for axially symmetrical objects of various types world ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/17 22:19
End of Day Share Price2019/09/17 00:00
Earnings2019/03/31
Annual Earnings2019/03/31


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.