VAT Group
Market Cap
CHF5.2b
Last Updated
2020/06/06 00:22 UTC
Data Sources
Company Financials +
Executive Summary
VAT Group AG, together with its subsidiaries, develops, manufactures, and supplies vacuum valves in Switzerland, rest of Europe, the United States, Japan, Korea, Singapore, rest of Asia, and internationally.
Rewards
Risk Analysis
Snowflake Analysis
High growth potential with adequate balance sheet.
Similar Companies
Share Price & News
How has VAT Group's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: VACN's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
-0.2%
VACN
3.4%
CH Machinery
2.3%
CH Market
1 Year Return
51.0%
VACN
2.5%
CH Machinery
3.2%
CH Market
Return vs Industry: VACN exceeded the Swiss Machinery industry which returned 1.8% over the past year.
Return vs Market: VACN exceeded the Swiss Market which returned 3.6% over the past year.
Shareholder returns
| VACN | Industry | Market | |
|---|---|---|---|
| 7 Day | -0.2% | 3.4% | 2.3% |
| 30 Day | 10.2% | 12.7% | 4.9% |
| 90 Day | 31.2% | 11.6% | 2.7% |
| 1 Year | 54.9%51.0% | 6.1%2.5% | 6.6%3.2% |
| 3 Year | 49.6%37.1% | 7.5%-1.2% | 21.1%8.7% |
| 5 Year | n/a | 41.6%20.0% | 32.6%10.5% |
Price Volatility Vs. Market
How volatile is VAT Group's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Is VAT Group AG's (VTX:VACN) High P/E Ratio A Problem For Investors?1 month ago | Simply Wall St
Is VAT Group AG (VTX:VACN) A Great Dividend Stock?1 month ago | Simply Wall St
What Kind Of Investor Owns Most Of VAT Group AG (VTX:VACN)?Valuation
Is VAT Group undervalued compared to its fair value and its price relative to the market?
69.25x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: VACN (CHF172.8) is trading above our estimate of fair value (CHF83.72)
Significantly Below Fair Value: VACN is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: VACN is poor value based on its PE Ratio (69.2x) compared to the Machinery industry average (19.4x).
PE vs Market: VACN is poor value based on its PE Ratio (69.2x) compared to the Swiss market (19.8x).
Price to Earnings Growth Ratio
PEG Ratio: VACN is poor value based on its PEG Ratio (3x)
Price to Book Ratio
PB vs Industry: VACN is overvalued based on its PB Ratio (9.9x) compared to the CH Machinery industry average (2.1x).
Next Steps
Future Growth
How is VAT Group forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?
23.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: VACN's forecast earnings growth (23.1% per year) is above the savings rate (-0.2%).
Earnings vs Market: VACN's earnings (23.1% per year) are forecast to grow faster than the Swiss market (8.5% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: VACN's revenue (8.5% per year) is forecast to grow faster than the Swiss market (2.3% per year).
High Growth Revenue: VACN's revenue (8.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: VACN's Return on Equity is forecast to be high in 3 years time (28.4%)
Next Steps
Past Performance
How has VAT Group performed over the past 5 years?
23.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: VACN has high quality earnings.
Growing Profit Margin: VACN's current net profit margins (13.1%) are lower than last year (19.4%).
Past Earnings Growth Analysis
Earnings Trend: VACN's earnings have grown significantly by 23.3% per year over the past 5 years.
Accelerating Growth: VACN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: VACN had negative earnings growth (-44.9%) over the past year, making it difficult to compare to the Machinery industry average (0.5%).
Return on Equity
High ROE: VACN's Return on Equity (14.3%) is considered low.
Next Steps
Financial Health
How is VAT Group's financial position?
Financial Position Analysis
Short Term Liabilities: VACN's short term assets (CHF299.8M) exceed its short term liabilities (CHF156.8M).
Long Term Liabilities: VACN's short term assets (CHF299.8M) exceed its long term liabilities (CHF292.4M).
Debt to Equity History and Analysis
Debt Level: VACN's debt to equity ratio (47.2%) is considered high.
Reducing Debt: Insufficient data to determine if VACN's debt to equity ratio has reduced over the past 5 years.
Debt Coverage: VACN's debt is well covered by operating cash flow (63.9%).
Interest Coverage: VACN's interest payments on its debt are well covered by EBIT (23x coverage).
Balance Sheet
Next Steps
Dividend
What is VAT Group's current dividend yield, its reliability and sustainability?
2.31%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: VACN's dividend (2.31%) is higher than the bottom 25% of dividend payers in the Swiss market (1.94%).
High Dividend: VACN's dividend (2.31%) is low compared to the top 25% of dividend payers in the Swiss market (3.83%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, VACN has been paying a dividend for less than 10 years.
Growing Dividend: VACN has only been paying a dividend for 3 years, and since then payments have not increased.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (160.3%), VACN's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: VACN's dividends in 3 years are forecast to be covered by earnings (87.8% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
1.4yrs
Average management tenure
CEO
Mike Allison (57yo)
2.25yrs
Tenure
CHF1,082,358
Compensation
Mr. Michael Allison, also known as Mike, serves as Interim Chief Operating Officer at VAT Group AG since July 31, 2019. Mr. Allison has been Chief Executive Officer of VAT Group AG since March 13, 2018. Mr ...
CEO Compensation Analysis
Compensation vs Market: Mike's total compensation ($USD1.12M) is below average for companies of similar size in the Swiss market ($USD2.23M).
Compensation vs Earnings: Mike's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Interim COO | 2.25yrs | CHF1.08m | 0.0017% CHF87.6k | |
| Chief Financial Officer | 1.42yrs | no data | no data | |
| Head of Human Resources & Member of Group Management Board | no data | no data | no data | |
| Member of Group Management Board & Head of Semiconductors | no data | no data | no data | |
| Member of Group Management Board and Head of GVA | no data | no data | no data | |
| Member of Group Management Board & Head of Central Engineering | no data | no data | no data | |
| Member of Group Management Board & Head of Core Technology | no data | no data | no data | |
| Member of Group Management Board & Head of Global Sales & Service | no data | no data | no data | |
| Member of Group Management Board & Head of Strategy and Business Development | 1.33yrs | no data | no data | |
| Member of Group Management Board and Head of GVA & Bellows | no data | no data | no data |
1.4yrs
Average Tenure
Experienced Management: VACN's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Vice Chairman | 2.08yrs | CHF91.24k | 0.11% CHF5.9m | |
| Director | 3.08yrs | CHF112.60k | 0.0031% CHF158.0k | |
| Director | 4.25yrs | CHF125.71k | 0.014% CHF733.7k | |
| Chairman | 3.08yrs | CHF270.76k | 0.0037% CHF191.7k | |
| Director | 4.25yrs | CHF117.94k | 0.12% CHF6.4m | |
| Director | 2.25yrs | CHF93.34k | 0.00070% CHF36.3k |
3.1yrs
Average Tenure
64yo
Average Age
Experienced Board: VACN's board of directors are considered experienced (3.1 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
VAT Group AG's company bio, employee growth, exchange listings and data sources
Key Information
- Name: VAT Group AG
- Ticker: VACN
- Exchange: SWX
- Founded: 1965
- Industry: Industrial Machinery
- Sector: Capital Goods
- Market Cap: CHF5.182b
- Shares outstanding: 29.99m
- Website: https://www.vatvalve.com
Number of Employees
Location
- VAT Group AG
- Seelistrasse 1
- Haag
- Sennwald
- St. Gallen
- 9469
- Switzerland
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| VACN | SWX (SIX Swiss Exchange) | Yes | Ordinary Shares | CH | CHF | Apr 2016 |
| 19V | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Apr 2016 |
| 0RFL | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | CHF | Apr 2016 |
| VTTG.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Apr 2016 |
| VACN N | BMV (Bolsa Mexicana de Valores) | Yes | Ordinary Shares | MX | MXN | Apr 2016 |
| VACN.Y | OTCPK (Pink Sheets LLC) | UNSPONSORED ADS | US | USD | Feb 2018 |
Biography
VAT Group AG, together with its subsidiaries, develops, manufactures, and supplies vacuum valves in Switzerland, rest of Europe, the United States, Japan, Korea, Singapore, rest of Asia, and internationally. The company operates through three segments: Valves, Global Service, and Industry. The Valves segment offers vacuum valves for the semiconductor, displays, photovoltaics, and vacuum coating industries, as well as for the industrial and research sectors. The Global Service segment provides spare parts, repairs, and upgrades, as well as support services. The Industry segment produces edge-welded bellows that are used as sealing elements in vacuum valve, semiconductor manufacturing, fuel injection system, and medical implant applications; and offers manufacturing parts and mechanical components for machining ancillary industry. VAT Group AG was founded in 1965 is headquartered in Sennwald, Switzerland.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/06/06 00:22 |
| End of Day Share Price | 2020/06/05 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.