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ZEHN

Zehnder GroupSWX:ZEHN Stock Report

Market Cap

CHF1.2b

7D

-1.6%

1Y

126.4%

Updated

25 Oct, 2021

Data

Company Financials +
ZEHN fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance5/6
Financial Health6/6
Dividends3/6

ZEHN Overview

Zehnder Group AG, together with its subsidiaries, develops, manufactures, and sells indoor climate systems in Europe, North America, and China.

Zehnder Group Competitors

BELIMO Holding

SWX:BEAN

CHF6.7b

Arbonia

SWX:ARBN

CHF1.4b

Systemair

OM:SYSR

kr16.9b

Meier Tobler Group

SWX:MTG

CHF227.5m

Price History & Performance

Summary of all time highs, changes and price drops for Zehnder Group
Historical stock prices
Current Share PriceCHF101.20
52 Week HighCHF42.00
52 Week LowCHF108.60
Beta0.97
1 Month Change-2.88%
3 Month Change16.59%
1 Year Change126.40%
3 Year Change164.23%
5 Year Change145.93%
Change since IPO427.08%

Recent News & Updates

Oct 10
Should You Be Adding Zehnder Group (VTX:ZEHN) To Your Watchlist Today?

Should You Be Adding Zehnder Group (VTX:ZEHN) To Your Watchlist Today?

Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of falling...

Sep 01
Zehnder Group (VTX:ZEHN) Might Have The Makings Of A Multi-Bagger

Zehnder Group (VTX:ZEHN) Might Have The Makings Of A Multi-Bagger

What are the early trends we should look for to identify a stock that could multiply in value over the long term...

Jun 30
We Think Zehnder Group (VTX:ZEHN) Can Manage Its Debt With Ease

We Think Zehnder Group (VTX:ZEHN) Can Manage Its Debt With Ease

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Jun 10
Should You Be Adding Zehnder Group (VTX:ZEHN) To Your Watchlist Today?

Should You Be Adding Zehnder Group (VTX:ZEHN) To Your Watchlist Today?

Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...

Shareholder Returns

ZEHNCH BuildingCH Market
7D-1.6%1.4%0.6%
1Y126.4%38.3%21.7%

Return vs Industry: ZEHN exceeded the Swiss Building industry which returned 38.3% over the past year.

Return vs Market: ZEHN exceeded the Swiss Market which returned 21.7% over the past year.

Price Volatility

Is ZEHN's price volatile compared to industry and market?
ZEHN volatility
ZEHN Beta0.97
Industry Beta0.79
Market Beta1

Stable Share Price: ZEHN is more volatile than 75% of Swiss stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: ZEHN's weekly volatility (5%) has been stable over the past year, but is still higher than 75% of Swiss stocks.

About the Company

FoundedEmployeesCEOWebsite
18953,473Matthias Huenerwadelhttps://www.zehndergroup.com

Zehnder Group AG, together with its subsidiaries, develops, manufactures, and sells indoor climate systems in Europe, North America, and China. The company offers decorative radiators, heating and cooling ceiling systems, indoor ventilation systems, heat exchangers, and clean air systems under the Zehnder, Runtal, Acova, Bisque, Greenwood, Paul, Core, Enervent, and Recair brands. Its products have applications in production halls and warehouses, exhibition rooms and showrooms, sports halls, offices, schools, hospitals, detached houses, and apartments.

Zehnder Group Fundamentals Summary

How do Zehnder Group's earnings and revenue compare to its market cap?
ZEHN fundamental statistics
Market Cap€1.10b
Earnings (TTM)€58.80m
Revenue (TTM)€684.00m

18.8x

P/E Ratio

1.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ZEHN income statement (TTM)
Revenue€684.00m
Cost of Revenue€248.80m
Gross Profit€435.20m
Expenses€376.40m
Earnings€58.80m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Feb 23, 2022

Earnings per share (EPS)5.05
Gross Margin63.63%
Net Profit Margin8.60%
Debt/Equity Ratio3.0%

How did ZEHN perform over the long term?

See historical performance and comparison

Dividends

1.2%

Current Dividend Yield

23%

Payout Ratio

Valuation

Is Zehnder Group undervalued compared to its fair value and its price relative to the market?

18.78x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ZEHN (CHF101.2) is trading above our estimate of fair value (CHF81.41)

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


Price To Earnings Ratio

PE vs Industry: ZEHN is good value based on its PE Ratio (18.8x) compared to the Swiss Building industry average (29.3x).

PE vs Market: ZEHN is good value based on its PE Ratio (18.8x) compared to the Swiss market (21.2x).


Price to Earnings Growth Ratio

PEG Ratio: ZEHN is poor value based on its PEG Ratio (28.2x)


Price to Book Ratio

PB vs Industry: ZEHN is good value based on its PB Ratio (3.4x) compared to the CH Building industry average (8.2x).


Future Growth

How is Zehnder Group forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

0.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ZEHN's forecast earnings growth (0.7% per year) is above the savings rate (-0.3%).

Earnings vs Market: ZEHN's earnings (0.7% per year) are forecast to grow slower than the Swiss market (9.2% per year).

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

Revenue vs Market: ZEHN's revenue (5.3% per year) is forecast to grow faster than the Swiss market (5.1% per year).

High Growth Revenue: ZEHN's revenue (5.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ZEHN's Return on Equity is forecast to be low in 3 years time (15.8%).


Past Performance

How has Zehnder Group performed over the past 5 years?

28.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ZEHN has high quality earnings.

Growing Profit Margin: ZEHN's current net profit margins (8.6%) are higher than last year (4.9%).


Past Earnings Growth Analysis

Earnings Trend: ZEHN's earnings have grown significantly by 28.2% per year over the past 5 years.

Accelerating Growth: ZEHN's earnings growth over the past year (93.4%) exceeds its 5-year average (28.2% per year).

Earnings vs Industry: ZEHN earnings growth over the past year (93.4%) exceeded the Building industry 53.8%.


Return on Equity

High ROE: ZEHN's Return on Equity (17.5%) is considered low.


Financial Health

How is Zehnder Group's financial position?


Financial Position Analysis

Short Term Liabilities: ZEHN's short term assets (€335.1M) exceed its short term liabilities (€154.5M).

Long Term Liabilities: ZEHN's short term assets (€335.1M) exceed its long term liabilities (€34.2M).


Debt to Equity History and Analysis

Debt Level: ZEHN's debt to equity ratio (3%) is considered satisfactory.

Reducing Debt: ZEHN's debt to equity ratio has reduced from 5.3% to 3% over the past 5 years.

Debt Coverage: ZEHN's debt is well covered by operating cash flow (930.8%).

Interest Coverage: ZEHN earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is Zehnder Group current dividend yield, its reliability and sustainability?

1.19%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ZEHN's dividend (1.19%) isn’t notable compared to the bottom 25% of dividend payers in the Swiss market (1.37%).

High Dividend: ZEHN's dividend (1.19%) is low compared to the top 25% of dividend payers in the Swiss market (3.66%).


Stability and Growth of Payments

Stable Dividend: ZEHN's dividend payments have been volatile in the past 10 years.

Growing Dividend: ZEHN's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (22.9%), ZEHN's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ZEHN's dividends in 3 years are forecast to be well covered by earnings (38.3% payout ratio).


Next Steps

Management

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

2.7yrs

Average management tenure


CEO

Matthias Huenerwadel (53 yo)

2.92yrs

Tenure

€1,182,522

Compensation

Mr. Matthias P. Huenerwadel has been the Chairman of the Group Executive Committee and Chief Executive Officer of Zehnder Group AG since January 1, 2019 and November 12, 2018 respectively. Mr. Huenerwadel...


CEO Compensation Analysis

Compensation vs Market: Matthias's total compensation ($USD1.37M) is about average for companies of similar size in the Swiss market ($USD1.33M).

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


Leadership Team

Experienced Management: ZEHN's management team is considered experienced (2.7 years average tenure).


Board Members

Experienced Board: ZEHN's board of directors are considered experienced (7.1 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

Zehnder Group AG's employee growth, exchange listings and data sources


Key Information

  • Name: Zehnder Group AG
  • Ticker: ZEHN
  • Exchange: SWX
  • Founded: 1895
  • Industry: Building Products
  • Sector: Capital Goods
  • Market Cap: CHF1.169b
  • Shares outstanding: 11.64m
  • Website: https://www.zehndergroup.com

Number of Employees


Location

  • Zehnder Group AG
  • Moortalstrasse 1
  • Granichen
  • Aargau
  • 5722
  • Switzerland

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/25 17:03
End of Day Share Price2021/10/25 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.