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.


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

2.9%

CALN

0.5%

CH Luxury

0.6%

CH Market


1 Year Return

-2.5%

CALN

24.2%

CH Luxury

9.7%

CH Market

Return vs Industry: CALN underperformed the Swiss Luxury industry which returned 24.2% over the past year.

Return vs Market: CALN underperformed the Swiss Market which returned 9.7% over the past year.


Shareholder returns

CALNIndustryMarket
7 Day2.9%0.5%0.6%
30 Day6.8%0.5%-0.02%
90 Day17.0%-3.8%1.1%
1 Year0.06%-2.5%26.6%24.2%15.6%9.7%
3 Year5.6%-1.3%74.6%64.1%33.9%16.5%
5 Year-6.2%-16.3%132.2%103.2%38.0%16.3%

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

Valuation

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

30.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: CALN (CHF31.6) is trading below our estimate of fair value (CHF45.19)

Significantly Undervalued: CALN is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: CALN is poor value based on its PE Ratio (17.2x) compared to the Luxury industry average (17.2x).

PE vs Market: CALN is good value based on its PE Ratio (17.2x) compared to the Swiss market (18.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: CALN is poor value based on its PEG Ratio (2.9x)


Price to Book Ratio

PB vs Industry: CALN is overvalued based on its PB Ratio (1.5x) compared to the XE Luxury industry average (1.2x).


Next Steps

Future Growth

How is Calida Holding forecast 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 Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CALN's forecast earnings growth (5.9% per year) is above the savings rate (3.3%).

Earnings vs Market: CALN's earnings (5.9% per year) are forecast to grow slower than the Swiss market (10.3% per year).

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

Revenue vs Market: CALN's revenue (2% per year) is forecast to grow slower than the Swiss market (3.5% per year).

High Growth Revenue: CALN's revenue (2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: CALN's Return on Equity is forecast to be low in 3 years time (8.7%).


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

Earnings Trend: CALN's earnings have declined by -3.1% per year over the past 5 years.

Accelerating Growth: CALN's earnings growth over the past year (3.2%) exceeds its 5-year average (-3.1% per year).

Earnings vs Industry: CALN earnings growth over the past year (3.2%) exceeded the Luxury industry -2.3%.


Return on Equity

High ROE: CALN's Return on Equity (9.3%) is considered low.


Return on Assets

ROA vs Industry: CALN's Return on Assets is below or equal to the Luxury industry average last year.


Return on Capital Employed

ROCE Improving: CALN's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Calida Holding's financial position?


Financial Position Analysis

Short Term Liabilities: CALN's short term assets (CHF189.0M) exceeds its short term liabilities (CHF120.4M)

Long Term Liabilities: CALN's short term assets (189.0M) exceeds its long term liabilities (69.3M)


Debt to Equity History and Analysis

Debt Level: CALN's debt to equity ratio (17.3%) is considered satisfactory

Reducing Debt: CALN's debt to equity ratio has reduced from 20.2% to 17.3% over the past 5 years.

Debt Coverage: CALN's debt is well covered by operating cash flow (101.1%).

Interest Coverage: CALN's interest payments on its debt are well covered by EBIT (10.6x coverage).


Balance Sheet

Inventory Level: CALN has a high level of physical assets or inventory.

Debt Coverage by Assets: CALN's debt is covered by short term assets (assets are 6.007660x debt).


Next Steps

Dividend

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

2.53%

Current Dividend Yield


Dividend Yield vs Market

company2.5%marketbottom25%1.9%markettop25%3.7%industryaverage1.7%forecastin3Years2.5%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: CALN's dividend (2.53%) is higher than the bottom 25% of dividend payers in the Swiss market (1.91%).

High Dividend: CALN's dividend (2.53%) is low compared to the top 25% of dividend payers in the Swiss market (3.7%).

Stable Dividend: CALN's dividends per share have been stable in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (43.6%), CALN's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CALN's dividends in 3 years are forecast to be well covered by earnings (39.7% payout ratio).


Next Steps

Management

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

3.5yrs

Average management tenure


CEO

Reiner Pichler (57yo)

3.5yrs

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

Compensation vs. Market: Reiner's total compensation ($USD1.67M) is about average for companies of similar size in the Swiss market ($USD803.71K).

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


Management Age and Tenure

3.5yrs

Average Tenure

52.5yo

Average Age

Experienced Management: CALN's management team is considered experienced (3.5 years average tenure).


Board Age and Tenure

5.4yrs

Average Tenure

59.5yo

Average Age

Experienced Board: CALN's board of directors are considered experienced (5.4 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Christine Plazanet (60yo)

    Head of General Management

    • Tenure: 12.8yrs
  • Daniel Gemperle (60yo)

    COO & Member of Management Board

    • Tenure: 8.8yrs
  • Sacha Gerber (44yo)

    CFO & Member of Management Board

    • Tenure: 1.1yrs
  • Manuela Ottiger (48yo)

    Chief HR Officer & Member of Management Board

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

    CEO & Member of Management Board

    • Tenure: 3.5yrs
    • Compensation: CHF1.65m
  • Stefan Mues (44yo)

    Chief Digital Officer & Member of the Management Team

    • Tenure: 0.8yrs

Board Members

  • Thomas Lustenberger (68yo)

    Chairman

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

    Vice-Chairman

    • Tenure: 5.4yrs
    • Compensation: CHF105.00k
  • Erich Kellenberger (71yo)

    Non-Executive Director

    • Tenure: 33.1yrs
    • Compensation: CHF81.00k
  • Beat Grüring (58yo)

    Non-Executive Director

    • Tenure: 14.4yrs
    • Compensation: CHF110.00k
  • Hans-Kristian Hoejsgaard (61yo)

    Non-Executive Director

    • Tenure: 5.4yrs
    • Compensation: CHF87.00k
  • Stefan Portmann (52yo)

    Director

    • Tenure: 3.5yrs
    • Compensation: CHF77.00k
  • Valentin Rueda (63yo)

    Director

    • Tenure: 2.4yrs
    • Compensation: CHF73.00k
  • Nathalie Gaveau (44yo)

    Director

    • Tenure: 1.4yrs
    • 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: CHF260.409m
  • 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 Analysis2019/10/17 20:45
End of Day Share Price2019/10/17 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.