SWX:APGN

Stock Analysis Report

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Market Cap

CHF706.1m

Last Updated

2021/06/12 17:08 UTC

Data Sources

Company Financials +

Executive Summary

APG|SGA SA, a media company, provides out of home advertising services primarily in Switzerland and Serbia. More Details


Snowflake Analysis

Flawless balance sheet and slightly overvalued.


Similar Companies

Share Price & News

How has APG|SGA's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: APGN is not significantly more volatile than the rest of Swiss stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: APGN's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

1.7%

APGN

0.4%

CH Media

1.9%

CH Market


1 Year Return

25.5%

APGN

50.3%

CH Media

22.7%

CH Market

Return vs Industry: APGN underperformed the Swiss Media industry which returned 50.6% over the past year.

Return vs Market: APGN exceeded the Swiss Market which returned 22.7% over the past year.


Shareholder returns

APGNIndustryMarket
7 Day1.7%0.4%1.9%
30 Day6.3%4.7%7.3%
90 Day25.7%6.7%8.9%
1 Year25.5%25.5%53.9%50.3%26.2%22.7%
3 Year-34.6%-39.1%0.2%-10.3%43.1%27.4%
5 Year-27.1%-39.2%3.1%-15.0%76.3%44.2%

Long-Term Price Volatility Vs. Market

How volatile is APG|SGA's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is APG|SGA undervalued compared to its fair value and its price relative to the market?

23.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: APGN (CHF236) is trading below our estimate of fair value (CHF309.42)

Significantly Below Fair Value: APGN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: APGN is poor value based on its PE Ratio (53.4x) compared to the European Media industry average (20.9x).

PE vs Market: APGN is poor value based on its PE Ratio (53.4x) compared to the Swiss market (25.1x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate APGN's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: APGN is overvalued based on its PB Ratio (7.9x) compared to the XE Media industry average (1.8x).


Future Growth

How is APG|SGA forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

6.1%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if APGN's forecast earnings growth is above the savings rate (-0.3%).

Earnings vs Market: Insufficient data to determine if APGN's earnings are forecast to grow faster than the Swiss market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: APGN's revenue (6.1% per year) is forecast to grow faster than the Swiss market (4.7% per year).

High Growth Revenue: APGN's revenue (6.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: APGN's Return on Equity is forecast to be high in 3 years time (27.1%)


Past Performance

How has APG|SGA performed over the past 5 years?

-20.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: APGN has a large one-off gain of CHF5.9M impacting its December 31 2020 financial results.

Growing Profit Margin: APGN's current net profit margins (5%) are lower than last year (13%).


Past Earnings Growth Analysis

Earnings Trend: APGN's earnings have declined by 20.6% per year over the past 5 years.

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

Earnings vs Industry: APGN had negative earnings growth (-68.2%) over the past year, making it difficult to compare to the Media industry average (-3.9%).


Return on Equity

High ROE: APGN's Return on Equity (14.8%) is considered low.


Financial Health

How is APG|SGA's financial position?


Financial Position Analysis

Short Term Liabilities: APGN's short term assets (CHF121.2M) exceed its short term liabilities (CHF105.9M).

Long Term Liabilities: APGN's short term assets (CHF121.2M) exceed its long term liabilities (CHF10.0M).


Debt to Equity History and Analysis

Debt Level: APGN is debt free.

Reducing Debt: APGN has not had any debt for past 5 years.

Debt Coverage: APGN has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: APGN has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is APG|SGA current dividend yield, its reliability and sustainability?

4.88%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate APGN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate APGN's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if APGN's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if APGN's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: APGN is not paying a notable dividend for the Swiss market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of APGN's dividend in 3 years as they are not forecast to pay a notable one for the Swiss market.


Next Steps

Management

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

7.0yrs

Average management tenure


CEO

Markus Ehrle (55 yo)

7yrs

Tenure

CHF1,064,000

Compensation

Mr. Markus Ehrle has been the Chief Executive Officer and Member of Executive Board at APG|SGA SA (formerly know as Affichage Holding SA) since June 1, 2014 and April 01, 2011 respectively. Mr. Ehrle serve...


CEO Compensation Analysis

Compensation vs Market: Markus's total compensation ($USD1.18M) is about average for companies of similar size in the Swiss market ($USD1.28M).

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


Leadership Team

Experienced Management: APGN's management team is seasoned and experienced (7 years average tenure).


Board Members

Experienced Board: APGN's board of directors are considered experienced (6.1 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

APG|SGA SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: APG|SGA SA
  • Ticker: APGN
  • Exchange: SWX
  • Founded: 1900
  • Industry: Advertising
  • Sector: Media
  • Market Cap: CHF706.080m
  • Shares outstanding: 2.99m
  • Website: https://www.apgsga.ch

Number of Employees


Location

  • APG|SGA SA
  • Carrefour de Rive 1
  • Geneva
  • Geneva
  • 1207
  • Switzerland

Listings


Biography

APG|SGA SA, a media company, provides out of home advertising services primarily in Switzerland and Serbia. The company transports advertising messages into the public and private areas, including streets,...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/06/12 17:08
End of Day Share Price2021/06/11 00:00
Earnings2020/12/31
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.