SWX:COTN

Stock Analysis Report

Executive Summary

Comet Holding AG, together with its subsidiaries, provides X-ray, radio frequency (RF), and ebeam technology solutions in Europe, Asia, and internationally.

Snowflake

Fundamentals

Reasonable growth potential with mediocre balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: COTN has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.2%

COTN

0.9%

CH Electronic

0.2%

CH Market


1 Year Return

7.7%

COTN

26.0%

CH Electronic

11.5%

CH Market

Return vs Industry: COTN underperformed the Swiss Electronic industry which returned 26% over the past year.

Return vs Market: COTN underperformed the Swiss Market which returned 11.5% over the past year.


Shareholder returns

COTNIndustryMarket
7 Day0.2%0.9%0.2%
30 Day17.3%5.4%2.3%
90 Day12.7%12.1%6.6%
1 Year9.0%7.7%29.5%26.0%16.9%11.5%
3 Year18.0%14.3%45.0%35.8%39.6%21.7%
5 Year66.0%55.9%91.8%69.0%34.7%13.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

4.2x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: COTN (CHF99) is trading above our estimate of fair value (CHF61.49)

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


Price To Earnings Ratio

PE vs Industry: COTN is unprofitable, so we can't compare its PE Ratio to the Electronic industry average.

PE vs Market: COTN is unprofitable, so we can't compare its PE Ratio to the Swiss market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate COTN's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: COTN is overvalued based on its PB Ratio (4.2x) compared to the CH Electronic industry average (2.6x).


Next Steps

Future Growth

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

82.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: COTN is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (3.3%).

Earnings vs Market: COTN is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: COTN's is expected to become profitable in the next 3 years.

Revenue vs Market: COTN's revenue (8.1% per year) is forecast to grow faster than the Swiss market (3.6% per year).

High Growth Revenue: COTN's revenue (8.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: COTN's Return on Equity is forecast to be low in 3 years time (10.8%).


Next Steps

Past Performance

How has Comet Holding performed over the past 5 years?

-5.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: COTN has large one-off items impacting its financial results.

Growing Profit Margin: COTN's current net profit margins (-1.4%) are lower than last year (6.9%).


Past Earnings Growth Analysis

Earnings Trend: COTN is unprofitable, and losses have increased over the past 5 years at a rate of -5.8% per year.

Accelerating Growth: Unable to compare COTN's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: COTN is unprofitable, making it difficult to compare its past year earnings growth to the Electronic industry (1.1%).


Return on Equity

High ROE: COTN has a negative Return on Equity (-2.9%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Comet Holding's financial position?


Financial Position Analysis

Short Term Liabilities: COTN's short term assets (CHF199.1M) exceeds its short term liabilities (CHF107.1M)

Long Term Liabilities: COTN's short term assets (199.1M) exceeds its long term liabilities (85.0M)


Debt to Equity History and Analysis

Debt Level: COTN's debt to equity ratio (41.3%) is considered high

Reducing Debt: COTN's debt to equity ratio has increased from 22.7% to 41.3% over the past 5 years.

Debt Coverage: COTN's debt is well covered by operating cash flow (43.2%).

Interest Coverage: COTN is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet

Inventory Level: COTN has a high level of physical assets or inventory.

Debt Coverage by Assets: COTN's debt is covered by short term assets (assets are 2.6x debt).


Next Steps

Dividend

What is Comet Holding's current dividend yield, its reliability and sustainability?

1.21%

Current Dividend Yield


Dividend Yield vs Market

company1.2%marketbottom25%1.9%markettop25%3.6%industryaverage2.7%forecastin3Years1.5%

Current dividend yield vs market & industry

Notable Dividend: COTN's dividend (1.21%) isn’t notable compared to the bottom 25% of dividend payers in the Swiss market (1.85%).

High Dividend: COTN's dividend (1.21%) is low compared to the top 25% of dividend payers in the Swiss market (3.63%).


Stability and Growth of Payments

Stable Dividend: COTN is not paying a notable dividend for the Swiss market, therefore no need to check if payments are stable.

Growing Dividend: COTN is not paying a notable dividend for the Swiss market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: COTN is not paying a notable dividend for the Swiss market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of COTN's dividend in 3 years as they are not forecast to pay a notable one for the Swiss market.


Next Steps

Management

What is the CEO of Comet Holding's salary, the management and board of directors tenure and is there insider trading?

1.4yrs

Average management tenure


CEO

Heinz Kundert (67yo)

0.4yrs

Tenure

0

Mr. Heinz Kundert serves as Vice Chairman of VAT Group AG. He served as the Chief Executive Officer at VAT Group AG since June 2015 until March 12, 2018. Mr. Kundert has been Chief Executive Officer of VAT ...


Management Age and Tenure

1.4yrs

Average Tenure

56yo

Average Age

Experienced Management: COTN's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.


Board Age and Tenure

3.6yrs

Average Tenure

58yo

Average Age

Experienced Board: COTN's board of directors are considered experienced (3.6 years average tenure).


Insider Trading

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.


Management Team

  • Heinz Kundert (67yo)

    Chairman of the Board & Interim CEO

    • Tenure: 0.4yrs
  • Beat Malacarne (57yo)

    Interim Chief Financial Officer

    • Tenure: 0.4yrs
  • Michael Kammerer (58yo)

    President of Plasma Control Technologies Division

    • Tenure: 11.8yrs
  • Eric Dubuis (55yo)

    Chief Information Officer & Interim Chief HR Officer

    • Tenure: 14.1yrs
  • Ines Najorka

    VP of Corporate Communications & Secretary

    • Tenure: 0yrs
  • Stephan Haferl (46yo)

    President of X-Ray Modules Division

    • Tenure: 1.8yrs
  • Thomas Wenzel (54yo)

    President of X-Ray Systems Division

    • Tenure: 0.9yrs

Board Members

  • Franz Richter (64yo)

    Non-Executive Director

    • Tenure: 3.6yrs
    • Compensation: CHF107.30k
  • Heinz Kundert (67yo)

    Chairman of the Board & Interim CEO

    • Tenure: 0.4yrs
  • Patrick Jany (51yo)

    Vice Chairman & Independent Lead Director

    • Tenure: 0.6yrs
  • Rolf Huber (54yo)

    Non-Executive Director

    • Tenure: 11.8yrs
    • Compensation: CHF107.30k
  • Christoph Kutter

    Independent Director

    • Tenure: 0.6yrs
  • Gian-Luca Bona (62yo)

    Non-Executive Director

    • Tenure: 7.6yrs
    • Compensation: CHF107.30k
  • Mariel Hoch (46yo)

    Non-Executive Director

    • Tenure: 3.6yrs
    • Compensation: CHF107.30k

Company Information

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


Key Information

  • Name: Comet Holding AG
  • Ticker: COTN
  • Exchange: SWX
  • Founded: 1948
  • Industry: Electronic Equipment and Instruments
  • Sector: Tech
  • Market Cap: CHF748.081m
  • Shares outstanding: 7.76m
  • Website: https://www.comet-group.com

Number of Employees


Location

  • Comet Holding AG
  • Herrengasse 10
  • Flamatt
  • 3175
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
COTNSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFNov 1997
0ROQLSE (London Stock Exchange)YesRegistered SharesGBCHFNov 1997
EZP1DB (Deutsche Boerse AG)YesRegistered SharesDEEURNov 1997

Biography

Comet Holding AG, together with its subsidiaries, provides X-ray, radio frequency (RF), and ebeam technology solutions in Europe, Asia, and internationally. It operates through four segments: Plasma Contro ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/12 20:37
End of Day Share Price2019/11/11 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.