ALSO Holding
Market Cap
CHF2.3b
Last Updated
2020/02/17 21:58 UTC
Data Sources
Company Financials +
Executive Summary
ALSO Holding AG operates as a service provider for the ICT industry.
Rewards
Risk Analysis
Snowflake Analysis
Moderate growth potential with mediocre balance sheet.
Similar Companies
Share Price & News
How has ALSO Holding's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: ALSN has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
5.4%
ALSN
5.3%
CH Electronic
0.9%
CH Market
1 Year Return
36.5%
ALSN
32.2%
CH Electronic
17.7%
CH Market
Return vs Industry: ALSN exceeded the Swiss Electronic industry which returned 31.3% over the past year.
Return vs Market: ALSN exceeded the Swiss Market which returned 17.9% over the past year.
Shareholder returns
| ALSN | Industry | Market | |
|---|---|---|---|
| 7 Day | 5.4% | 5.3% | 0.9% |
| 30 Day | 9.2% | 0.07% | 2.5% |
| 90 Day | 22.0% | 15.6% | 7.5% |
| 1 Year | 39.8%36.5% | 35.8%32.2% | 23.4%17.7% |
| 3 Year | 66.6%56.4% | 39.4%30.4% | 41.2%23.9% |
| 5 Year | 261.7%220.7% | 117.8%91.7% | 46.5%23.2% |
Price Volatility Vs. Market
How volatile is ALSO Holding's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
Is ALSO Holding AG (VTX:ALSN) The Right Choice For A Smart Dividend Investor?1 month ago | Simply Wall St
What Kind Of Shareholder Owns Most ALSO Holding AG (VTX:ALSN) Stock?1 month ago | Simply Wall St
Is ALSO Holding AG (VTX:ALSN) Excessively Paying Its CEO?Valuation
Is ALSO Holding undervalued compared to its fair value and its price relative to the market?
30.4%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: ALSN (CHF176.4) is trading below our estimate of fair value (CHF253.41)
Significantly Below Fair Value: ALSN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: ALSN is poor value based on its PE Ratio (24.2x) compared to the Electronic industry average (20.8x).
PE vs Market: ALSN is poor value based on its PE Ratio (24.2x) compared to the Swiss market (21.1x).
Price to Earnings Growth Ratio
PEG Ratio: ALSN is poor value based on its PEG Ratio (1.9x)
Price to Book Ratio
PB vs Industry: ALSN is overvalued based on its PB Ratio (3.2x) compared to the CH Electronic industry average (2.6x).
Next Steps
Future Growth
How is ALSO Holding forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
12.8%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ALSN's forecast earnings growth (12.8% per year) is above the savings rate (-0.6%).
Earnings vs Market: ALSN's earnings (12.8% per year) are forecast to grow faster than the Swiss market (10.5% per year).
High Growth Earnings: ALSN's earnings are forecast to grow, but not significantly.
Revenue vs Market: ALSN's revenue (3.9% per year) is forecast to grow faster than the Swiss market (3.3% per year).
High Growth Revenue: ALSN's revenue (3.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: ALSN's Return on Equity is forecast to be low in 3 years time (14.6%).
Next Steps
Past Performance
How has ALSO Holding performed over the past 5 years?
9.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ALSN has high quality earnings.
Growing Profit Margin: ALSN's current net profit margins (0.9%) are lower than last year (0.9%).
Past Earnings Growth Analysis
Earnings Trend: ALSN's earnings have grown by 9.8% per year over the past 5 years.
Accelerating Growth: ALSN's earnings growth over the past year (6.4%) is below its 5-year average (9.8% per year).
Earnings vs Industry: ALSN earnings growth over the past year (6.4%) underperformed the Electronic industry 6.4%.
Return on Equity
High ROE: ALSN's Return on Equity (13.3%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is ALSO Holding's financial position?
Financial Position Analysis
Short Term Liabilities: ALSN's short term assets (€1.8B) exceed its short term liabilities (€1.0B).
Long Term Liabilities: ALSN's short term assets (€1.8B) exceed its long term liabilities (€466.0M).
Debt to Equity History and Analysis
Debt Level: ALSN's debt to equity ratio (77.8%) is considered high.
Reducing Debt: ALSN's debt to equity ratio has increased from 53.3% to 77.8% over the past 5 years.
Debt Coverage: ALSN's debt is not well covered by operating cash flow (14.2%).
Interest Coverage: ALSN's interest payments on its debt are well covered by EBIT (8.7x coverage).
Balance Sheet
Inventory Level: ALSN has a high level of physical assets or inventory.
Debt Coverage by Assets: ALSN's debt is covered by short term assets (assets are 3.4x debt).
Next Steps
Dividend
What is ALSO Holding's current dividend yield, its reliability and sustainability?
1.58%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: ALSN's dividend (1.58%) isn’t notable compared to the bottom 25% of dividend payers in the Swiss market (1.71%).
High Dividend: ALSN's dividend (1.58%) is low compared to the top 25% of dividend payers in the Swiss market (3.34%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, ALSN has been paying a dividend for less than 10 years.
Growing Dividend: ALSN's dividend payments have increased, but the company has only paid a dividend for 8 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (38.8%), ALSN's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: ALSN's dividends in 3 years are forecast to be well covered by earnings (37.4% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
7.3yrs
Average management tenure
CEO
Gustavo Möller-Hergt (57yo)
7.6yrs
Tenure
€2,585,000
Compensation
Prof. Gustavo Möller-Hergt has been the Chief Executive Officer of ALSO Holding AG (also known as, ALSO-Actebis Holding AG) since July 1, 2012 and also has been its Chairman since March 13, 2014. Prof. Mö ...
CEO Compensation Analysis
Compensation vs Market: Gustavo's total compensation ($USD2.63M) is above average for companies of similar size in the Swiss market ($USD1.33M).
Compensation vs Earnings: Gustavo's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 7.6yrs | €2.59m | no data | |
| Chief Financial Officer | 9yrs | no data | no data | |
| Chief Information Officer | 0yrs | no data | no data | |
| General Counsel | 0yrs | no data | no data | |
| Chief Transformation Officer | 5.8yrs | no data | no data | |
| Head of E-Business Unit | 0yrs | no data | no data | |
| Senior Vice President of Vendor Management | 7.1yrs | no data | no data | |
| Managing Director of ALSO Switzerland | 0yrs | no data | no data | |
| Senior Vice President of Mergers & Acquisitions | 0yrs | no data | no data | |
| Managing Director of ALSO Poland | 0yrs | no data | no data |
7.3yrs
Average Tenure
49yo
Average Age
Experienced Management: ALSN's management team is seasoned and experienced (7.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 7.6yrs | €2.59m | no data | |
| Vice Chairman & Lead Director | 9yrs | €140.00k | no data | |
| Non-Executive Director | 9yrs | €95.00k | no data | |
| Non-Executive Director | 5.9yrs | €106.00k | no data | |
| Non-Executive Director | 26.7yrs | €94.00k | 0.000080% €1.8k | |
| Director | 3.9yrs | €80.00k | no data |
7.5yrs
Average Tenure
65yo
Average Age
Experienced Board: ALSN's board of directors are considered experienced (7.5 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 not been meaningfully diluted in the past year.
Top Shareholders
Company Information
ALSO Holding AG's company bio, employee growth, exchange listings and data sources
Key Information
- Name: ALSO Holding AG
- Ticker: ALSN
- Exchange: SWX
- Founded: 1984
- Industry: Technology Distributors
- Sector: Tech
- Market Cap: CHF2.269b
- Shares outstanding: 12.82m
- Website: https://www.also.com
Number of Employees
Location
- ALSO Holding AG
- Meierhofstrasse 5
- Emmen
- Lucerne
- 6032
- Switzerland
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| ALSN | SWX (SIX Swiss Exchange) | Yes | Registered Shares | CH | CHF | Feb 2011 |
| 9AS | DB (Deutsche Boerse AG) | Yes | Registered Shares | DE | EUR | Feb 2011 |
| 0QLW | LSE (London Stock Exchange) | Yes | Registered Shares | GB | CHF | Feb 2011 |
Biography
ALSO Holding AG operates as a service provider for the ICT industry. The company offers various ICT product categories of hardware, software, and information technology (IT) services. It also provides customized services in the logistics, finance, IT, and digital services sectors, as well as traditional distribution services. The company serves retailers, e-tailers, corporate customers, value-added resellers, small and medium-sized business resellers, VARs, and integrators. It has operations in Austria, France, Germany, Switzerland, Belarus, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, Hungary, Latvia, Lithuania, the Netherlands, Norway, Poland, Romania, Slovakia, Slovenia, Sweden, and Ukraine. The company was formerly known as ALSO-Actebis Holding AG and changed its name to ALSO Holding AG in March 2013. The company was founded in 1984 and is headquartered in Emmen, Switzerland. ALSO Holding AG is a subsidiary of Special Distribution Holding GmbH.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/17 21:58 |
| End of Day Share Price | 2020/02/17 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
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.