SWX:CALN

Stock Analysis Report

Executive Summary

CALIDA Holding AG engages in apparel business in France, Germany, Switzerland, rest of Europe, Asia, the United States, and internationally.

Snowflake

Fundamentals

Flawless balance sheet established dividend payer.

Risks

  • Calida Holding is covered by less than 3 analysts.

Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

3.4%

CALN

-2.8%

CH Luxury

0.1%

CH Market


1 Year Return

-13.7%

CALN

8.8%

CH Luxury

6.4%

CH Market

CALN underperformed the Luxury industry which returned 8.8% over the past year.

CALN underperformed the Market in Switzerland which returned 6.4% over the past year.


Share holder returns

CALNIndustryMarket
7 Day3.4%-2.8%0.1%
30 Day9.4%1.4%2.4%
90 Day3.8%-0.7%1.5%
1 Year-11.5%-13.7%11.0%8.8%11.9%6.4%
3 Year0.3%-6.2%79.8%69.1%31.8%14.8%
5 Year-5.8%-15.9%124.6%96.7%34.9%13.7%

Price Volatility Vs. Market

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


Simply Wall St News

3 weeks ago | Simply Wall St

Is Calida Holding AG (VTX:CALN) Investing Effectively In Its Business?

1 month ago | Simply Wall St

Why I Like Calida Holding AG (VTX:CALN)

Valuation

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

33%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Calida Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).

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


Price Based on Earnings

Calida Holding is good value based on earnings compared to the Europe Luxury industry average.

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


Price Based on Expected Growth

Calida Holding is poor value based on expected growth next year.


Price Based on Value of Assets

Calida Holding is overvalued based on assets compared to the Europe Luxury industry average.


Next Steps

Future Growth

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

5.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Calida Holding's revenue is expected to grow by 2% yearly, however this is not considered high growth (20% yearly).

Calida Holding's earnings are expected to grow by 5.9% yearly, however this is not considered high growth (20% yearly).

Calida Holding's revenue growth is positive but not above the Switzerland market average.

Calida Holding's earnings growth is positive but not above the Switzerland market average.

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


Earnings per Share Growth Estimates


Future Return on Equity

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


Next Steps

Past Performance

How has Calida Holding performed over the past 5 years?

-3.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Calida Holding's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.

Calida Holding's 1-year earnings growth exceeds its 5-year average (3.2% vs -3.1%)

Calida Holding's earnings growth has exceeded the Europe Luxury industry average in the past year (3.2% vs -0.8%).


Return on Equity

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


Return on Assets

Calida Holding used its assets less efficiently than the Europe Luxury industry average last year based on Return on Assets.


Return on Capital Employed

Calida Holding's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Calida Holding's financial position?


Financial Position Analysis

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

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


Debt to Equity History and Analysis

Calida Holding's level of debt (17.3%) compared to net worth is satisfactory (less than 40%).

The level of debt compared to net worth has been reduced over the past 5 years (20.2% vs 17.3% today).

Debt is well covered by operating cash flow (101.1%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 10.6x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 6x debt.


Next Steps

Dividend

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

2.65%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Calida Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Switzerland (1.93%).

Calida Holding's dividend is below the markets top 25% of dividend payers in Switzerland (3.65%).

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

Dividends paid are well covered by earnings (2.3x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).


Next Steps

Management

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

3.4yrs

Average management tenure


CEO

Reiner Pichler (57yo)

3.4yrs

Tenure

CHF1,654,000

Compensation

Mr. Reiner Pichler has been the Chief Executive Officer and President of Lafuma SA since April 1, 2016. Mr. Pichler has been Chief Executive Officer of Calida Holding AG since April 1, 2016 and serves as i ...


CEO Compensation Analysis

Reiner's remuneration is higher than average for companies of similar size in Switzerland.

Reiner's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

3.4yrs

Average Tenure

52.5yo

Average Age

The tenure for the Calida Holding management team is about average.


Board Age and Tenure

5.3yrs

Average Tenure

59.5yo

Average Age

The tenure for the Calida Holding board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Christine Plazanet (60yo)

    Head of General Management

    • Tenure: 12.7yrs
  • Daniel Gemperle (60yo)

    COO & Member of Management Board

    • Tenure: 8.1yrs
  • Sacha Gerber (44yo)

    CFO & Member of Management Board

    • Tenure: 1yrs
  • Manuela Ottiger (48yo)

    Chief HR Officer & Member of Management Board

    • Tenure: 0yrs
  • Reiner Pichler (57yo)

    CEO & Member of Management Board

    • Tenure: 3.4yrs
    • Compensation: CHF1.65m
  • Stefan Mues (44yo)

    Chief Digital Officer & Member of the Management Team

    • Tenure: 0.7yrs

Board Members

  • Thomas Lustenberger (68yo)

    Chairman

    • Tenure: 19.3yrs
    • Compensation: CHF179.00k
  • Marco Gadola (56yo)

    Vice-Chairman

    • Tenure: 5.3yrs
    • Compensation: CHF105.00k
  • Erich Kellenberger (71yo)

    Non-Executive Director

    • Tenure: 33yrs
    • Compensation: CHF81.00k
  • Beat Grüring (58yo)

    Non-Executive Director

    • Tenure: 14.3yrs
    • Compensation: CHF110.00k
  • Hans-Kristian Hoejsgaard (61yo)

    Non-Executive Director

    • Tenure: 5.3yrs
    • Compensation: CHF87.00k
  • Stefan Portmann (52yo)

    Director

    • Tenure: 3.4yrs
    • Compensation: CHF77.00k
  • Valentin Rueda (63yo)

    Director

    • Tenure: 2.3yrs
    • Compensation: CHF73.00k
  • Nathalie Gaveau (44yo)

    Director

    • Tenure: 1.3yrs
    • Compensation: CHF33.00k

Company Information

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


Key Information

  • Name: Calida Holding AG
  • Ticker: CALN
  • Exchange: SWX
  • Founded: 1941
  • Industry: Apparel, Accessories and Luxury Goods
  • Sector: Consumer Durables
  • Market Cap: CHF248.872m
  • Shares outstanding: 8.24m
  • Website: https://www.calidagroup.com

Number of Employees


Location

  • Calida Holding AG
  • Bahnstrasse
  • Oberkirch
  • Sursee
  • Lucerne
  • 6208
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CALNSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFJun 1998
0QP3LSE (London Stock Exchange)YesRegistered SharesGBCHFJun 1998
C7UADB (Deutsche Boerse AG)YesRegistered SharesDEEURJun 1998

Biography

CALIDA Holding AG engages in apparel business in France, Germany, Switzerland, rest of Europe, Asia, the United States, and internationally. The company operates through five segments: CALIDA, AUBADE, LAFU ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/21 20:43
End of Day Share Price2019/09/20 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.