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HIAG

HIAG Immobilien Holding SWX:HIAG Stock Report

Last Price

CHF85.40

Market Cap

CHF861.3m

7D

0.9%

1Y

-16.3%

Updated

29 Jun, 2022

Data

Company Financials +
HIAG fundamental analysis
Snowflake Score
Valuation3/6
Future Growth1/6
Past Performance3/6
Financial Health1/6
Dividends2/6

HIAG Stock Overview

HIAG Immobilien Holding AG, together with its subsidiaries, provides site and project development services in Switzerland.

HIAG Immobilien Holding Competitors

Price History & Performance

Summary of all time highs, changes and price drops for HIAG Immobilien Holding
Historical stock prices
Current Share PriceCHF85.40
52 Week HighCHF110.00
52 Week LowCHF82.20
Beta0.32
1 Month Change-7.78%
3 Month Change-17.89%
1 Year Change-16.28%
3 Year Change-30.00%
5 Year Change-29.60%
Change since IPO8.10%

Recent News & Updates

May 12
We Think HIAG Immobilien Holding (VTX:HIAG) Is Taking Some Risk With Its Debt

We Think HIAG Immobilien Holding (VTX:HIAG) Is Taking Some Risk With Its Debt

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Shareholder Returns

HIAGCH Real EstateCH Market
7D0.9%1.2%2.4%
1Y-16.3%-10.0%-12.2%

Return vs Industry: HIAG underperformed the Swiss Real Estate industry which returned -9.4% over the past year.

Return vs Market: HIAG underperformed the Swiss Market which returned -12.6% over the past year.

Price Volatility

Is HIAG's price volatile compared to industry and market?
HIAG volatility
HIAG Average Weekly Movement3.5%
Real Estate Industry Average Movement3.3%
Market Average Movement4.6%
10% most volatile stocks in CH Market7.4%
10% least volatile stocks in CH Market2.4%

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

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

About the Company

FoundedEmployeesCEOWebsite
187672Marco Feusihttps://www.hiag.com

HIAG Immobilien Holding AG, together with its subsidiaries, provides site and project development services in Switzerland. The company operates three segments: Yielding portfolio, Development portfolio, and Transaction. It engages in the management and maintenance of properties; site and project development, including interim use, implementation, and transaction management to the real estate portfolio; and implementation of the capital recycling strategy.

HIAG Immobilien Holding Fundamentals Summary

How do HIAG Immobilien Holding's earnings and revenue compare to its market cap?
HIAG fundamental statistics
Market CapCHF861.33m
Earnings (TTM)CHF89.26m
Revenue (TTM)CHF79.68m

9.6x

P/E Ratio

10.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
HIAG income statement (TTM)
RevenueCHF79.68m
Cost of RevenueCHF15.67m
Gross ProfitCHF64.01m
Other Expenses-CHF25.25m
EarningsCHF89.26m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

Aug 26, 2022

Earnings per share (EPS)8.85
Gross Margin80.33%
Net Profit Margin112.02%
Debt/Equity Ratio80.2%

How did HIAG perform over the long term?

See historical performance and comparison

Dividends

3.2%

Current Dividend Yield

26%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is HIAG undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HIAG?

Other financial metrics that can be useful for relative valuation.

HIAG key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue19.7x
Enterprise Value/EBITDA30x
PEG Ratio-1.5x

Price to Earnings Ratio vs Peers

How does HIAG's PE Ratio compare to its peers?

HIAG PE Ratio vs Peers
The above table shows the PE ratio for HIAG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average11.9x
FREN Fundamenta Real Estate
17.7xn/aCHF512.6m
VARN Varia US Properties
2.1xn/aCHF458.7m
ISN Intershop Holding
8.2x-38.8%CHF1.2b
WARN Warteck Invest
19.8xn/aCHF542.0m
HIAG HIAG Immobilien Holding
9.6x-6.5%CHF861.3m

Price-To-Earnings vs Peers: HIAG is good value based on its Price-To-Earnings Ratio (9.6x) compared to the peer average (11.9x).


Price to Earnings Ratio vs Industry

How does HIAG's PE Ratio compare vs other companies in the CH Real Estate Industry?

Price-To-Earnings vs Industry: HIAG is good value based on its Price-To-Earnings Ratio (9.6x) compared to the Swiss Real Estate industry average (11.5x)


Price to Earnings Ratio vs Fair Ratio

What is HIAG's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HIAG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.6x
Fair PE Ratio12.7x

Price-To-Earnings vs Fair Ratio: HIAG is good value based on its Price-To-Earnings Ratio (9.6x) compared to the estimated Fair Price-To-Earnings Ratio (12.7x).


Share Price vs Fair Value

What is the Fair Price of HIAG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HIAG (CHF85.4) is trading above our estimate of fair value (CHF48.61)

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


Price to Earnings Growth Ratio

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


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Future Growth

How is HIAG Immobilien Holding forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-6.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HIAG's earnings are forecast to decline over the next 3 years (-6.5% per year).

Earnings vs Market: HIAG's earnings are forecast to decline over the next 3 years (-6.5% per year).

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

Revenue vs Market: HIAG's revenue (11.4% per year) is forecast to grow faster than the Swiss market (4.2% per year).

High Growth Revenue: HIAG's revenue (11.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: HIAG's Return on Equity is forecast to be low in 3 years time (5.9%).


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Past Performance

How has HIAG Immobilien Holding performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-0.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: HIAG has a large one-off gain of CHF63.4M impacting its December 31 2021 financial results.

Growing Profit Margin: HIAG's current net profit margins are higher than last year (73.3%).


Past Earnings Growth Analysis

Earnings Trend: HIAG's earnings have declined by 0.9% per year over the past 5 years.

Accelerating Growth: HIAG's earnings growth over the past year (61.8%) exceeds its 5-year average (-0.9% per year).

Earnings vs Industry: HIAG earnings growth over the past year (61.8%) exceeded the Real Estate industry 54.7%.


Return on Equity

High ROE: HIAG's Return on Equity (9%) is considered low.


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Financial Health

How is HIAG Immobilien Holding's financial position?

Financial Health Score

1/6

Financial Health Score 1/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: HIAG's short term assets (CHF136.0M) do not cover its short term liabilities (CHF316.0M).

Long Term Liabilities: HIAG's short term assets (CHF136.0M) do not cover its long term liabilities (CHF598.6M).


Debt to Equity History and Analysis

Debt Level: HIAG's net debt to equity ratio (71.3%) is considered high.

Reducing Debt: HIAG's debt to equity ratio has increased from 70.3% to 80.2% over the past 5 years.

Debt Coverage: HIAG's debt is not well covered by operating cash flow (2.5%).

Interest Coverage: HIAG's interest payments on its debt are well covered by EBIT (6.6x coverage).


Balance Sheet


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Dividend

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

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


3.16%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: HIAG's dividend (3.16%) is higher than the bottom 25% of dividend payers in the Swiss market (2.02%).

High Dividend: HIAG's dividend (3.16%) is low compared to the top 25% of dividend payers in the Swiss market (4.08%).


Stability and Growth of Payments

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

Growing Dividend: HIAG has only been paying a dividend for 7 years, and since then payments have fallen.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (26%), HIAG's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (135.5%), HIAG's dividend payments are not well covered by cash flows.


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Management

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

2.4yrs

Average management tenure


CEO

Marco Feusi (49 yo)

2.42yrs

Tenure

CHF2,080,000

Compensation

Mr. Marco Feusi, MRICS serves as Chief Executive Officer and Member of the Executive Board at HIAG Immobilien Holding AG since January 1, 2020. He is a Member of the Board of Directors of Norline AG. He wa...


CEO Compensation Analysis

Compensation vs Market: Marco's total compensation ($USD2.18M) is above average for companies of similar size in the Swiss market ($USD1.31M).

Compensation vs Earnings: Marco's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: HIAG's management team is considered experienced (2.4 years average tenure).


Board Members

Experienced Board: HIAG's board of directors are considered experienced (4.1 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 been diluted in the past year, with total shares outstanding growing by 20.2%.


Top Shareholders

Company Information

HIAG Immobilien Holding AG's employee growth, exchange listings and data sources


Key Information

  • Name: HIAG Immobilien Holding AG
  • Ticker: HIAG
  • Exchange: SWX
  • Founded: 1876
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Implied Market Cap: CHF861.330m
  • Shares outstanding: 10.09m
  • Website: https://www.hiag.com

Number of Employees


Location

  • HIAG Immobilien Holding AG
  • Aeschenplatz 7
  • Basel
  • Basel-Stadt
  • 4052
  • Switzerland

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/29 00:00
End of Day Share Price2022/06/29 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


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.