SWX:PNHO

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Poenina Holding AG installs building technology and building shell products in Switzerland.


Snowflake Analysis

Flawless balance sheet with proven track record.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-0.6%

PNHO

5.9%

CH Construction

2.8%

CH Market


1 Year Return

-1.1%

PNHO

-2.4%

CH Construction

3.8%

CH Market

Return vs Industry: PNHO exceeded the Swiss Construction industry which returned -5.2% over the past year.

Return vs Market: PNHO underperformed the Swiss Market which returned 3.2% over the past year.


Shareholder returns

PNHOIndustryMarket
7 Day-0.6%5.9%2.8%
30 Day-3.5%16.6%5.4%
90 Day0%-6.5%-1.6%
1 Year3.2%-1.1%-0.4%-2.4%7.2%3.8%
3 Yearn/a-2.6%-11.0%19.9%7.7%
5 Yearn/a26.0%5.3%31.1%9.2%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

14.97x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PNHO (CHF46.3) is trading above our estimate of fair value (CHF36.55)

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


Price To Earnings Ratio

PE vs Industry: PNHO is poor value based on its PE Ratio (15x) compared to the Construction industry average (11.1x).

PE vs Market: PNHO is good value based on its PE Ratio (15x) compared to the Swiss market (19.3x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate PNHO's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: PNHO is overvalued based on its PB Ratio (3.4x) compared to the XE Construction industry average (1x).


Next Steps

Future Growth

How is Poenina Holding forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

7.7%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if PNHO's forecast earnings growth is above the savings rate (-0.2%).

Earnings vs Market: Insufficient data to determine if PNHO's earnings are forecast to grow faster than the Swiss market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: PNHO's revenue (7.7% per year) is forecast to grow faster than the Swiss market (2.4% per year).

High Growth Revenue: PNHO's revenue (7.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PNHO's Return on Equity is forecast to be high in 3 years time (23.1%)


Next Steps

Past Performance

How has Poenina Holding performed over the past 5 years?

29.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PNHO has a high level of non-cash earnings.

Growing Profit Margin: PNHO's current net profit margins (4.8%) are lower than last year (5.2%).


Past Earnings Growth Analysis

Earnings Trend: PNHO's earnings have grown significantly by 29.3% per year over the past 5 years.

Accelerating Growth: PNHO's earnings growth over the past year (59.7%) exceeds its 5-year average (29.3% per year).

Earnings vs Industry: PNHO earnings growth over the past year (59.7%) exceeded the Construction industry 7.3%.


Return on Equity

High ROE: PNHO's Return on Equity (22.7%) is considered high.


Next Steps

Financial Health

How is Poenina Holding's financial position?


Financial Position Analysis

Short Term Liabilities: PNHO's short term assets (CHF83.6M) exceed its short term liabilities (CHF37.8M).

Long Term Liabilities: PNHO's short term assets (CHF83.6M) exceed its long term liabilities (CHF8.9M).


Debt to Equity History and Analysis

Debt Level: PNHO's debt to equity ratio (8.6%) is considered satisfactory.

Reducing Debt: PNHO's debt to equity ratio has reduced from 72.4% to 8.6% over the past 5 years.

Debt Coverage: PNHO's debt is well covered by operating cash flow (57.5%).

Interest Coverage: PNHO's interest payments on its debt are well covered by EBIT (518.2x coverage).


Balance Sheet


Next Steps

Dividend

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

2.16%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PNHO's dividend (2.16%) is higher than the bottom 25% of dividend payers in the Swiss market (1.9%).

High Dividend: PNHO's dividend (2.16%) is low compared to the top 25% of dividend payers in the Swiss market (3.9%).


Stability and Growth of Payments

Stable Dividend: PNHO has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: PNHO has only been paying a dividend for 2 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (32.3%), PNHO's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PNHO's dividends in 3 years are forecast to be covered by earnings (53.6% payout ratio).


Next Steps

Management

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

2.9yrs

Average board tenure


CEO

Jean-Claude Bregy (51yo)

9.58yrs

Tenure

CHF874,737

Compensation

Mr. Jean-Claude Bregy has been Chief Executive Officer, Member of the Management Board & Director at Poenina Holding AG since November 19, 2010. Mr. Bregy served as Managing Director of K Schweizer AG at B ...


CEO Compensation Analysis

Compensation vs Market: Jean-Claude's total compensation ($USD909.31K) is about average for companies of similar size in the Swiss market ($USD791.64K).

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


Board Members

NamePositionTenureCompensationOwnership
Jean-Claude Bregy
CEO, Member of the Management Board & Director9.58yrsCHF874.74k30.57% CHF56.5m
Marco Syfrig
President of the Board of Directors2.92yrsCHF129.33k2.5% CHF4.6m
Urs Ledermann
Director2.92yrsCHF69.88kno data
Willy Huppi
Director2.92yrsCHF64.67k3.34% CHF6.2m
Sarah Meier-Bieri
Director2.92yrsCHF64.50kno data
Thomas Kellenberger
Directorno dataCHF582.41k5.22% CHF9.6m

2.9yrs

Average Tenure

58yo

Average Age

Experienced Board: PNHO's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.


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

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


Key Information

  • Name: Poenina Holding AG
  • Ticker: PNHO
  • Exchange: SWX
  • Founded: 2010
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Market Cap: CHF184.786m
  • Shares outstanding: 3.99m
  • Website: https://www.poenina.ch

Number of Employees


Location

  • Poenina Holding AG
  • Vega-Strasse 3
  • Glattpark
  • Opfikon
  • Zurich
  • 8152
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PNHOSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFNov 2017
0RW0LSE (London Stock Exchange)YesRegistered SharesGBEURNov 2017

Biography

Poenina Holding AG installs building technology and building shell products in Switzerland. It offers sanitary, heating, and ventilation; and roofing, flat roof, pitched roof, lightning protection, and plumbing services. The company was founded in 2010 and is headquartered in Opfikon, Switzerland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/04 01:02
End of Day Share Price2020/06/03 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.