SWX:ALLN

Stock Analysis Report

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Executive Summary

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


Snowflake Analysis

Average dividend payer with acceptable track record.

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 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.2%

ALLN

-1.5%

CH Real Estate

0.7%

CH Market


1 Year Return

7.3%

ALLN

-1.2%

CH Real Estate

4.1%

CH Market

Return vs Industry: ALLN exceeded the Swiss Real Estate industry which returned 0.1% over the past year.

Return vs Market: ALLN exceeded the Swiss Market which returned 3.8% over the past year.


Shareholder returns

ALLNIndustryMarket
7 Day-2.2%-1.5%0.7%
30 Day1.0%-1.5%5.1%
90 Day3.1%-3.2%7.8%
1 Year11.4%7.3%2.1%-1.2%7.7%4.1%
3 Year17.6%4.7%16.8%4.6%21.3%8.7%
5 Year64.9%36.1%47.6%22.7%29.2%7.4%

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?

12.56x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ALLN (CHF185.6) is trading above our estimate of fair value (CHF165.31)

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


Price To Earnings Ratio

PE vs Industry: ALLN is good value based on its PE Ratio (12.6x) compared to the CH Real Estate industry average (12.9x).

PE vs Market: ALLN is good value based on its PE Ratio (12.6x) compared to the Swiss market (19x).


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 is overvalued based on its PB Ratio (1.2x) compared to the CH Real Estate industry average (1.1x).


Next Steps

Future Growth

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

-13.2%

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 (-13.2% per year).

Earnings vs Market: ALLN's earnings are forecast to decline over the next 3 years (-13.2% 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 (-38.1% per year).

High Growth Revenue: ALLN's revenue is forecast to decline over the next 3 years (-38.1% 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 (5.1%).


Next Steps

Past Performance

How has Allreal Holding performed over the past 5 years?

11.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ALLN has a large one-off gain of CHF140.9M impacting its December 31 2019 financial results.

Growing Profit Margin: ALLN's current net profit margins (44%) are higher than last year (29.5%).


Past Earnings Growth Analysis

Earnings Trend: ALLN's earnings have grown by 11.8% per year over the past 5 years.

Accelerating Growth: ALLN's earnings growth over the past year (45.8%) exceeds its 5-year average (11.8% per year).

Earnings vs Industry: ALLN earnings growth over the past year (45.8%) underperformed the Real Estate industry 45.8%.


Return on Equity

High ROE: ALLN's Return on Equity (9.9%) 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 (CHF255.0M) do not cover its short term liabilities (CHF517.6M).

Long Term Liabilities: ALLN's short term assets (CHF255.0M) do not cover its long term liabilities (CHF1.9B).


Debt to Equity History and Analysis

Debt Level: ALLN's debt to equity ratio (84.5%) is considered high.

Reducing Debt: ALLN's debt to equity ratio has reduced from 93.8% to 84.5% over the past 5 years.

Debt Coverage: ALLN's debt is not well covered by operating cash flow (10%).

Interest Coverage: ALLN's interest payments on its debt are well covered by EBIT (7x coverage).


Balance Sheet


Next Steps

Dividend

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

3.64%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ALLN's dividend (3.64%) is higher than the bottom 25% of dividend payers in the Swiss market (1.96%).

High Dividend: ALLN's dividend (3.64%) is low compared to the top 25% of dividend payers in the Swiss market (3.94%).


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 reasonably low payout ratio (45.7%), ALLN's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ALLN's dividends in 3 years are not forecast to be well covered by earnings (92.3% payout ratio).


Next Steps

Management

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

3.3yrs

Average management tenure


CEO

Roger Herzog (48yo)

5.17yrs

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 ($USD1.27M) is below average for companies of similar size in the Swiss market ($USD1.88M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Roger Herzog
Chief Executive Officer5.17yrsCHF1.20m0.017% CHF507.5k
Thomas Wapp
Chief Financial Officer3.25yrsno data0.0018% CHF51.9k
Reto Aregger
Chief of Communications Officerno datano datano data
Alain Paratte
Head of Real Estate7.5yrsno data0.0076% CHF224.8k
Stefan Dambacher
Head of Development2.5yrsno data0.00061% CHF18.0k
Simon Räbsamen
Head of Realisation0.50yrno datano data

3.3yrs

Average Tenure

48yo

Average Age

Experienced Management: ALLN's management team is considered experienced (3.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Olivier Steimer
Director7.25yrsCHF80.00k0.0063% CHF185.6k
Ralph-Thomas Honegger
Chairman1.25yrsCHF150.00k0.0063% CHF185.6k
Philipp Gmür
Director1.25yrsCHF80.00k0.0044% CHF129.8k
Thomas Stenz
Director4.25yrsCHF80.00k0.0063% CHF185.6k
Peter Spuhler
Director7.25yrsCHF80.00k1.64% CHF48.5m
Andrea Sieber
Vice Chairwoman1.08yrsCHF80.00kno data
Jürg Stöckli
Director0.58yrCHF80.00kno data

1.3yrs

Average Tenure

61yo

Average Age

Experienced Board: ALLN's board of directors are not considered experienced ( 1.3 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: CHF2.951b
  • 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 commercial properties. This division also provides various real estate services, such as portfolio management, and real estate and building management. The Projects & Development division provides project development, real estate consultancy, and contract administration services. This division’s services comprise development and realization of new buildings, and conversion or renovation of buildings for third parties or for resale; sale of residential property; and advising private individuals, companies, and institutional investors with regard to real estate transactions. Allreal Holding AG was founded in 1999 and is based in Baar, Switzerland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/13 20:52
End of Day Share Price2020/07/13 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.