SWX:ISN

Stock Analysis Report

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Executive Summary

Intershop Holding AG, a real estate company, focuses on the purchase, development, and sale of real estate in Switzerland. More Details


Snowflake Analysis

Established dividend payer with imperfect balance sheet.

Share Price & News

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


Latest Share Price and Events

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

Volatility Over Time: ISN's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

-1.7%

ISN

-1.8%

CH Real Estate

0.6%

CH Market


1 Year Return

5.8%

ISN

-8.0%

CH Real Estate

1.1%

CH Market

Return vs Industry: ISN exceeded the Swiss Real Estate industry which returned -8% over the past year.

Return vs Market: ISN exceeded the Swiss Market which returned 1.1% over the past year.


Shareholder returns

ISNIndustryMarket
7 Day-1.7%-1.8%0.6%
30 Day3.2%2.4%8.4%
90 Day-1.7%0.3%2.5%
1 Year11.4%5.8%-4.9%-8.0%4.7%1.1%
3 Year36.7%18.9%23.2%10.3%19.1%4.2%
5 Year80.5%44.1%48.5%23.8%38.1%15.2%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

17.29x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ISN (CHF580) is trading above our estimate of fair value (CHF314.72)

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


Price To Earnings Ratio

PE vs Industry: ISN is poor value based on its PE Ratio (17.3x) compared to the CH Real Estate industry average (16x).

PE vs Market: ISN is good value based on its PE Ratio (17.3x) compared to the Swiss market (22.8x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: ISN is overvalued based on its PB Ratio (1.7x) compared to the CH Real Estate industry average (1.1x).


Next Steps

Future Growth

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

-5.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ISN's earnings are forecast to decline over the next 3 years (-5.4% per year).

Earnings vs Market: ISN's earnings are forecast to decline over the next 3 years (-5.4% per year).

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

Revenue vs Market: ISN's revenue is expected to decline over the next 3 years (-2.2% per year).

High Growth Revenue: ISN's revenue is forecast to decline over the next 3 years (-2.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if ISN's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Intershop Holding performed over the past 5 years?

10.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ISN has high quality earnings.

Growing Profit Margin: ISN's current net profit margins (62.7%) are lower than last year (77%).


Past Earnings Growth Analysis

Earnings Trend: ISN's earnings have grown by 10.9% per year over the past 5 years.

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

Earnings vs Industry: ISN had negative earnings growth (-50.9%) over the past year, making it difficult to compare to the Real Estate industry average (1.2%).


Return on Equity

High ROE: ISN's Return on Equity (9.7%) is considered low.


Next Steps

Financial Health

How is Intershop Holding's financial position?


Financial Position Analysis

Short Term Liabilities: ISN's short term assets (CHF77.7M) do not cover its short term liabilities (CHF185.1M).

Long Term Liabilities: ISN's short term assets (CHF77.7M) do not cover its long term liabilities (CHF522.8M).


Debt to Equity History and Analysis

Debt Level: ISN's debt to equity ratio (83.1%) is considered high.

Reducing Debt: ISN's debt to equity ratio has reduced from 131.3% to 83.1% over the past 5 years.

Debt Coverage: ISN's debt is not well covered by operating cash flow (8%).

Interest Coverage: ISN's interest payments on its debt are well covered by EBIT (8.4x coverage).


Balance Sheet


Next Steps

Dividend

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

4.31%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ISN's dividend (4.31%) is higher than the bottom 25% of dividend payers in the Swiss market (1.86%).

High Dividend: ISN's dividend (4.31%) is in the top 25% of dividend payers in the Swiss market (3.75%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (74.5%), ISN's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

2.8yrs

Average board tenure


CEO

Cyrill Schneuwly (57 yo)

12.83yrs

Tenure

CHF1,271,000

Compensation

Mr. Cyrill Schneuwly has been the Chief Executive Officer of Intershop Holding AG since 2008. Mr. Schneuwly also has been a Member of the Executive Board at Intershop Holding AG since 1999. Mr. Schneuwly s...


CEO Compensation Analysis

Compensation vs Market: Cyrill's total compensation ($USD1.40M) is about average for companies of similar size in the Swiss market ($USD1.18M).

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


Board Members

NamePositionTenureCompensationOwnership
Ernst Schaufelberger
Non-Executive Director2.83yrsCHF78.00k0.011%
CHF 116.4k
Dieter Marmet
President of the Board9.83yrsCHF160.00k0.16%
CHF 1.7m
Kurt Ritz
Non-Executive Director1.58yrsCHF80.00k0.0053%
CHF 58.2k

2.8yrs

Average Tenure

57yo

Average Age

Experienced Board: ISN's board of directors are not considered experienced ( 2.8 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

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


Key Information

  • Name: Intershop Holding AG
  • Ticker: ISN
  • Exchange: SWX
  • Founded: 1962
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: CHF1.094b
  • Shares outstanding: 1.88m
  • Website: https://www.intershop.ch

Number of Employees


Location

  • Intershop Holding AG
  • Puls 5
  • Giessereistrasse 18
  • Zurich
  • Zurich
  • 8005
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ISNSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFDec 2003
0R6MLSE (London Stock Exchange)YesRegistered SharesGBCHFDec 2003
ISZNDB (Deutsche Boerse AG)YesRegistered SharesDEEURDec 2003

Biography

Intershop Holding AG, a real estate company, focuses on the purchase, development, and sale of real estate in Switzerland. The company engages in the rental of office, and commercial and retail space. It a...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/01 18:02
End of Day Share Price2020/12/01 00:00
Earnings2020/06/30
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.