SWX:ALLN

Stock Analysis Report

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Executive Summary

Allreal Holding AG operates as a real estate company in Switzerland. More Details


Snowflake Analysis

Established dividend payer with imperfect balance sheet.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: ALLN is less volatile than 75% of Swiss stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: ALLN's weekly volatility (2%) has been stable over the past year.


Market Performance


7 Day Return

-2.3%

ALLN

-0.3%

CH Real Estate

-0.5%

CH Market


1 Year Return

-10.1%

ALLN

-16.8%

CH Real Estate

4.8%

CH Market

Return vs Industry: ALLN exceeded the Swiss Real Estate industry which returned -17.4% over the past year.

Return vs Market: ALLN underperformed the Swiss Market which returned 2.3% over the past year.


Shareholder returns

ALLNIndustryMarket
7 Day-2.3%-0.3%-0.5%
30 Day-3.1%-0.3%-2.0%
90 Day-0.9%2.9%2.3%
1 Year-6.7%-10.1%-13.9%-16.8%8.4%4.8%
3 Year35.9%21.0%26.0%13.1%28.1%12.5%
5 Year72.1%42.0%48.3%23.6%52.0%28.6%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

18.02x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ALLN (CHF189.6) is trading above our estimate of fair value (CHF86.53)

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


Price To Earnings Ratio

PE vs Industry: ALLN is poor value based on its PE Ratio (18x) compared to the CH Real Estate industry average (16.5x).

PE vs Market: ALLN is good value based on its PE Ratio (18x) compared to the Swiss market (25x).


Price to Earnings Growth Ratio

PEG Ratio: ALLN's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: ALLN's PB Ratio (1.2x) is in line with the CH Real Estate industry average.


Next Steps

Future Growth

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

-5.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ALLN's earnings are forecast to decline over the next 3 years (-5.3% per year).

Earnings vs Market: ALLN's earnings are forecast to decline over the next 3 years (-5.3% per year).

High Growth Earnings: ALLN's earnings are forecast to decline over the next 3 years.

Revenue vs Market: ALLN's revenue is expected to decline over the next 3 years (-32.3% per year).

High Growth Revenue: ALLN's revenue is forecast to decline over the next 3 years (-32.3% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ALLN's Return on Equity is forecast to be low in 3 years time (5.2%).


Next Steps

Past Performance

How has Allreal Holding performed over the past 5 years?

10.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ALLN has a large one-off gain of CHF55.2M impacting its December 31 2020 financial results.

Growing Profit Margin: ALLN's current net profit margins (32.4%) are lower than last year (44.1%).


Past Earnings Growth Analysis

Earnings Trend: ALLN's earnings have grown by 10.4% per year over the past 5 years.

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

Earnings vs Industry: ALLN had negative earnings growth (-28.8%) over the past year, making it difficult to compare to the Real Estate industry average (-4.5%).


Return on Equity

High ROE: ALLN's Return on Equity (6.9%) is considered low.


Next Steps

Financial Health

How is Allreal Holding's financial position?


Financial Position Analysis

Short Term Liabilities: ALLN's short term assets (CHF329.1M) do not cover its short term liabilities (CHF691.0M).

Long Term Liabilities: ALLN's short term assets (CHF329.1M) do not cover its long term liabilities (CHF1.9B).


Debt to Equity History and Analysis

Debt Level: ALLN's debt to equity ratio (88.7%) is considered high.

Reducing Debt: ALLN's debt to equity ratio has reduced from 92.6% to 88.7% over the past 5 years.

Debt Coverage: ALLN's debt is not well covered by operating cash flow (2.9%).

Interest Coverage: ALLN's interest payments on its debt are well covered by EBIT (9.7x coverage).


Balance Sheet


Next Steps

Dividend

What is Allreal Holding current dividend yield, its reliability and sustainability?

3.56%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ALLN's dividend (3.56%) is higher than the bottom 25% of dividend payers in the Swiss market (1.51%).

High Dividend: ALLN's dividend (3.56%) is low compared to the top 25% of dividend payers in the Swiss market (3.65%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (64.2%), ALLN's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ALLN's dividends in 3 years are forecast to be covered by earnings (81.1% payout ratio).


Next Steps

Management

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

3.8yrs

Average management tenure


CEO

Roger Herzog (48 yo)

5.75yrs

Tenure

CHF1,200,000

Compensation

Mr. Roger Herzog has been Chief Executive Officer of Allreal Holding AG since 2015 and has been its Member of Group Management. Mr. Herzog served as Chief Financial Officer of Allreal Holding AG since Sept...


CEO Compensation Analysis

Compensation vs Market: Roger's total compensation ($USD1.33M) is about average for companies of similar size in the Swiss market ($USD1.82M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Roger Herzog
Chief Executive Officer5.75yrsCHF1.20m0.017%
CHF 524.0k
Thomas Wapp
Chief Financial Officer3.83yrsno data0.0018%
CHF 53.6k
Reto Aregger
Chief of Communications Officerno datano datano data
Alain Paratte
Head of Real Estate8.08yrsno data0.0076%
CHF 232.1k
Stefan Dambacher
Head of Development3.08yrsno data0.00061%
CHF 18.6k
Simon Räbsamen
Head of Realisation1.08yrsno datano data

3.8yrs

Average Tenure

48yo

Average Age

Experienced Management: ALLN's management team is considered experienced (3.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Olivier Steimer
Director7.83yrsCHF80.00k0.0063%
CHF 191.6k
Ralph-Thomas Honegger
Chairman1.83yrsCHF150.00k0.0063%
CHF 191.6k
Philipp Gmür
Director1.83yrsCHF80.00k0.0044%
CHF 134.0k
Thomas Stenz
Director4.83yrsCHF80.00k0.0063%
CHF 191.6k
Peter Spuhler
Director7.83yrsCHF80.00k1.64%
CHF 50.0m
Andrea Sieber
Vice Chairwoman1.67yrsCHF80.00kno data
Jürg Stöckli
Director1.17yrsCHF80.00kno data

1.8yrs

Average Tenure

61yo

Average Age

Experienced Board: ALLN's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.


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

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


Key Information

  • Name: Allreal Holding AG
  • Ticker: ALLN
  • Exchange: SWX
  • Founded: 1999
  • Industry: Diversified Real Estate Activities
  • Sector: Real Estate
  • Market Cap: CHF3.046b
  • Shares outstanding: 15.90m
  • Website: https://www.allreal.ch

Number of Employees


Location

  • Allreal Holding AG
  • Grabenstrasse 25
  • Baar
  • Zug
  • 6340
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ALLNSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFMar 2000
0QPDLSE (London Stock Exchange)YesRegistered SharesGBCHFMar 2000
AZ4NDB (Deutsche Boerse AG)YesRegistered SharesDEEURMar 2000

Biography

Allreal Holding AG operates as a real estate company in Switzerland. It operates through two divisions, Real Estate and Projects & Development. The Real Estate division invests in residential and commercia...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/02/25 18:05
End of Day Share Price2021/02/25 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.