SWX:ASCN

Stock Analysis Report

Executive Summary

Ascom Holding AG, together with its subsidiaries, provides healthcare ICT and mobile workflow solutions worldwide.

Snowflake

Fundamentals

Excellent balance sheet average dividend payer.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-1.4%

ASCN

2.6%

CH Healthcare Services

-0.8%

CH Market


1 Year Return

-39.4%

ASCN

-6.7%

CH Healthcare Services

8.5%

CH Market

Return vs Industry: ASCN underperformed the Swiss Healthcare Services industry which returned -6.7% over the past year.

Return vs Market: ASCN underperformed the Swiss Market which returned 8.5% over the past year.


Shareholder returns

ASCNIndustryMarket
7 Day-1.4%2.6%-0.8%
30 Day-6.2%-0.1%-0.8%
90 Day-22.7%-9.8%0.8%
1 Year-37.4%-39.4%-5.5%-6.7%14.3%8.5%
3 Year-35.3%-41.3%16.9%12.4%33.6%16.2%
5 Year-13.4%-25.7%116.4%101.0%37.6%16.0%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

13.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ASCN (CHF10) is trading below our estimate of fair value (CHF11.49)

Significantly Below Fair Value: ASCN is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: ASCN is good value based on its PE Ratio (16x) compared to the Healthcare Services industry average (27x).

PE vs Market: ASCN is good value based on its PE Ratio (16x) compared to the Swiss market (18.6x).


Price to Earnings Growth Ratio

PEG Ratio: ASCN is poor value based on its PEG Ratio (2.7x)


Price to Book Ratio

PB vs Industry: ASCN is overvalued based on its PB Ratio (5.1x) compared to the XE Healthcare Services industry average (3.2x).


Next Steps

Future Growth

How is Ascom Holding forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

6.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ASCN's forecast earnings growth (6% per year) is above the savings rate (3.3%).

Earnings vs Market: ASCN's earnings (6% per year) are forecast to grow slower than the Swiss market (10.2% per year).

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

Revenue vs Market: ASCN's revenue (3.1% per year) is forecast to grow slower than the Swiss market (3.5% per year).

High Growth Revenue: ASCN's revenue (3.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ASCN's Return on Equity is forecast to be high in 3 years time (26.6%)


Next Steps

Past Performance

How has Ascom Holding performed over the past 5 years?

-12.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: ASCN's earnings have declined by -12.6% per year over the past 5 years.

Accelerating Growth: ASCN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: ASCN had negative earnings growth (-8.9%) over the past year, making it difficult to compare to the Healthcare Services industry average (11.4%).


Return on Equity

High ROE: ASCN's Return on Equity (32.1%) is considered high.


Return on Assets

ROA vs Industry: ASCN has a higher Return on Assets than the Healthcare Services industry average last year.


Return on Capital Employed

ROCE Improving: ASCN has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Ascom Holding's financial position?


Financial Position Analysis

Short Term Liabilities: ASCN's short term assets (CHF128.0M) exceeds its short term liabilities (CHF102.9M)

Long Term Liabilities: ASCN's short term assets (128.0M) exceeds its long term liabilities (25.7M)


Debt to Equity History and Analysis

Debt Level: ASCN's debt to equity ratio (35.7%) is considered satisfactory

Reducing Debt: ASCN's debt to equity ratio has increased from 21.8% to 35.7% over the past 5 years.

Debt Coverage: ASCN's debt is well covered by operating cash flow (44.4%).

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


Balance Sheet

Inventory Level: ASCN has a low level of unsold assets or inventory.

Debt Coverage by Assets: ASCN's debt is covered by short term assets (assets are 5.120000x debt).


Next Steps

  • Explore more healthy companies in the Healthcare industry.

Dividend

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

4.50%

Current Dividend Yield


Dividend Yield vs Market

company4.5%marketbottom25%1.9%markettop25%3.7%industryaverage1.7%forecastin3Years4.2%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: ASCN's dividend (4.5%) is higher than the bottom 25% of dividend payers in the Swiss market (1.94%).

High Dividend: ASCN's dividend (4.5%) is in the top 25% of dividend payers in the Swiss market (3.72%)

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

Growing Dividend: ASCN's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (72%), ASCN's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ASCN's dividends in 3 years are forecast to be covered by earnings (75.9% payout ratio).


Next Steps

Management

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

3.4yrs

Average management tenure


CEO

Jeannine Pilloud (55yo)

0.8yrs

Tenure

0

Ms. Jeannine Pilloud is Chairperson at Ascom Holding AG since April 10, 2019 and has been its Chief Executive officer since August 2019. Ms. Pilloud served as Acting Chief Executive Officer at Ascom Holdi ...


Management Age and Tenure

3.4yrs

Average Tenure

54yo

Average Age

Experienced Management: ASCN's management team is considered experienced (3.4 years average tenure).


Board Age and Tenure

4.6yrs

Average Tenure

59yo

Average Age

Experienced Board: ASCN's board of directors are considered experienced (4.6 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

  • Jeannine Pilloud (55yo)

    Chairperson of the Board & CEO

    • Tenure: 0.8yrs
  • Daniel Lack

    Company Secretary and Senior VP of Legal

    • Tenure: 0yrs
  • Francis Schmeer (47yo)

    Chief Sales & Marketing Officer and Member of the Executive Board

    • Tenure: 5.1yrs
    • Compensation: CHF430.61k
  • Claes Ödman (54yo)

    COO & Member of the Executive Board

    • Tenure: 8.3yrs
    • Compensation: CHF405.55k
  • André Neu

    Chief Technology Officer

    • Tenure: 1.8yrs
  • Dominik Maurer

    CFO & Member of Executive Board

    • Tenure: 0yrs

Board Members

  • Andreas Umbach (56yo)

    Director

    • Tenure: 9.5yrs
  • Valentin Rueda (63yo)

    Director

    • Tenure: 3.8yrs
  • Jeannine Pilloud (55yo)

    Chairperson of the Board & CEO

    • Tenure: 0.8yrs
  • Christina Stercken (61yo)

    Director

    • Tenure: 5.5yrs
  • Jürg Fedier (64yo)

    Director

    • Tenure: 2.5yrs
  • Harald Deutsch (57yo)

    Director

    • Tenure: 5.8yrs

Company Information

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


Key Information

  • Name: Ascom Holding AG
  • Ticker: ASCN
  • Exchange: SWX
  • Founded:
  • Industry: Health Care Technology
  • Sector: Healthcare
  • Market Cap: CHF359.619m
  • Shares outstanding: 35.96m
  • Website: https://www.ascom.com

Number of Employees


Location

  • Ascom Holding AG
  • Zugerstrasse 32
  • Baar
  • Zug
  • 6340
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ASCNSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFJan 1992
AH2NDB (Deutsche Boerse AG)YesRegistered SharesDEEURJan 1992
ACML.FOTCPK (Pink Sheets LLC)YesRegistered SharesUSUSDJan 1992
0QONLSE (London Stock Exchange)YesRegistered SharesGBCHFJan 1992

Biography

Ascom Holding AG, together with its subsidiaries, provides healthcare ICT and mobile workflow solutions worldwide. It offers application and management software, smartphone applications, and clinical and s ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 20:34
End of Day Share Price2019/10/21 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.