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VALN

Valora Holding SWX:VALN Stock Report

Last Price

CHF159.00

Market Cap

CHF696.3m

7D

-0.6%

1Y

-16.0%

Updated

15 May, 2022

Data

Company Financials +
VALN fundamental analysis
Snowflake Score
Valuation3/6
Future Growth3/6
Past Performance1/6
Financial Health3/6
Dividends2/6

VALN Stock Overview

Valora Holding AG operates as a retailer in the convenience and food service sector in Europe.

Valora Holding Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Valora Holding
Historical stock prices
Current Share PriceCHF159.00
52 Week HighCHF212.50
52 Week LowCHF151.20
Beta1.33
1 Month Change-5.13%
3 Month Change-8.09%
1 Year Change-15.96%
3 Year Change-37.89%
5 Year Change-51.82%
Change since IPO-48.38%

Recent News & Updates

Shareholder Returns

VALNCH Specialty RetailCH Market
7D-0.6%2.5%-0.8%
1Y-16.0%-31.2%1.8%

Return vs Industry: VALN exceeded the Swiss Specialty Retail industry which returned -31.2% over the past year.

Return vs Market: VALN underperformed the Swiss Market which returned 1.8% over the past year.

Price Volatility

Is VALN's price volatile compared to industry and market?
VALN volatility
VALN Average Weekly Movement4.6%
Specialty Retail Industry Average Movement5.9%
Market Average Movement5.0%
10% most volatile stocks in CH Market8.6%
10% least volatile stocks in CH Market2.5%

Stable Share Price: VALN is not significantly more volatile than the rest of Swiss stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: VALN's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19053,618Michael Muellerhttps://www.valora.com

Valora Holding AG operates as a retailer in the convenience and food service sector in Europe. It operates through Retail and Food Service segments. The Retail segment operates small retail outlets in Switzerland, Germany, Luxembourg, and Austria.

Valora Holding Fundamentals Summary

How do Valora Holding's earnings and revenue compare to its market cap?
VALN fundamental statistics
Market CapCHF696.33m
Earnings (TTM)CHF8.26m
Revenue (TTM)CHF1.75b

84.3x

P/E Ratio

0.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
VALN income statement (TTM)
RevenueCHF1.75b
Cost of RevenueCHF969.42m
Gross ProfitCHF780.16m
Other ExpensesCHF771.90m
EarningsCHF8.26m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

Jul 20, 2022

Earnings per share (EPS)1.89
Gross Margin44.59%
Net Profit Margin0.47%
Debt/Equity Ratio50.7%

How did VALN perform over the long term?

See historical performance and comparison

Dividends

1.9%

Current Dividend Yield

159%

Payout Ratio

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: VALN (CHF159) is trading below our estimate of fair value (CHF376.92)

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


Price To Earnings Ratio

PE vs Industry: VALN is poor value based on its PE Ratio (84.3x) compared to the European Specialty Retail industry average (11.6x).

PE vs Market: VALN is poor value based on its PE Ratio (84.3x) compared to the Swiss market (18x).


Price to Earnings Growth Ratio

PEG Ratio: VALN is poor value based on its PEG Ratio (2.3x)


Price to Book Ratio

PB vs Industry: VALN is good value based on its PB Ratio (1x) compared to the XE Specialty Retail industry average (1.5x).


Future Growth

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

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


36.2%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: VALN's forecast earnings growth (36.2% per year) is above the savings rate (-0.3%).

Earnings vs Market: VALN's earnings (36.2% per year) are forecast to grow faster than the Swiss market (5.7% per year).

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

Revenue vs Market: VALN's revenue (4% per year) is forecast to grow slower than the Swiss market (4.2% per year).

High Growth Revenue: VALN's revenue (4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: VALN's Return on Equity is forecast to be low in 3 years time (6.1%).


Past Performance

How has Valora Holding performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-29.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: VALN has a large one-off gain of CHF29.6M impacting its December 31 2021 financial results.

Growing Profit Margin: VALN became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: VALN's earnings have declined by 29.6% per year over the past 5 years.

Accelerating Growth: VALN has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: VALN has become profitable in the last year, making it difficult to compare its past year earnings growth to the Specialty Retail industry (52.6%).


Return on Equity

High ROE: VALN's Return on Equity (1.2%) is considered low.


Financial Health

How is Valora Holding's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: VALN's short term assets (CHF428.9M) exceed its short term liabilities (CHF425.2M).

Long Term Liabilities: VALN's short term assets (CHF428.9M) do not cover its long term liabilities (CHF1.2B).


Debt to Equity History and Analysis

Debt Level: VALN's net debt to equity ratio (29.7%) is considered satisfactory.

Reducing Debt: VALN's debt to equity ratio has increased from 41% to 50.7% over the past 5 years.

Debt Coverage: VALN's debt is well covered by operating cash flow (63.4%).

Interest Coverage: VALN's interest payments on its debt are not well covered by EBIT (0x coverage).


Balance Sheet


Dividend

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

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


1.89%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: VALN's dividend (1.89%) is higher than the bottom 25% of dividend payers in the Swiss market (1.84%).

High Dividend: VALN's dividend (1.89%) is low compared to the top 25% of dividend payers in the Swiss market (3.88%).


Stability and Growth of Payments

Stable Dividend: VALN's dividend payments have been volatile in the past 10 years.

Growing Dividend: VALN's dividend payments have fallen over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (159.2%), VALN's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (7.3%), VALN's dividend payments are thoroughly covered by cash flows.


Next Steps

Management

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

7.8yrs

Average management tenure


CEO

Michael Mueller (49 yo)

8.17yrs

Tenure

CHF2,753,900

Compensation

Mr. Michael Mueller has been the Group Chief Executive Officer of Valora Holding AG since March 1, 2014 and was its Interim Chief Financial Officer from November 2019 until July 1, 2020. He has been its Ch...


CEO Compensation Analysis

Compensation vs Market: Michael's total compensation ($USD2.75M) is above average for companies of similar size in the Swiss market ($USD1.40M).

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


Leadership Team

Experienced Management: VALN's management team is seasoned and experienced (7.8 years average tenure).


Board Members

Experienced Board: VALN's board of directors are not considered experienced ( 2.6 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

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


Key Information

  • Name: Valora Holding AG
  • Ticker: VALN
  • Exchange: SWX
  • Founded: 1905
  • Industry: Specialty Stores
  • Sector: Retail
  • Implied Market Cap: CHF696.334m
  • Shares outstanding: 4.38m
  • Website: https://www.valora.com

Number of Employees


Location

  • Valora Holding AG
  • Hofackerstrasse 40
  • Muttenz
  • Basel-Landschaft
  • 4132
  • Switzerland

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/15 00:00
End of Day Share Price2022/05/13 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.