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 Analysis

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's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-6.4%

COTN

-1.6%

CH Electronic

-0.2%

CH Market


1 Year Return

45.9%

COTN

29.1%

CH Electronic

16.2%

CH Market

Return vs Industry: COTN exceeded the Swiss Electronic industry which returned 29.1% over the past year.

Return vs Market: COTN exceeded the Swiss Market which returned 16.2% over the past year.


Shareholder returns

COTNIndustryMarket
7 Day-6.4%-1.6%-0.2%
30 Day4.4%-2.0%2.1%
90 Day13.8%7.8%7.0%
1 Year47.6%45.9%32.6%29.1%21.8%16.2%
3 Year30.8%26.6%38.8%29.9%40.6%23.4%
5 Year118.4%105.1%107.1%82.5%44.9%21.9%

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?

5.8x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: COTN (CHF136.6) is trading above our estimate of fair value (CHF123.76)

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 (5.8x) 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?

86.6%

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 (-0.6%).

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% per year) is forecast to grow faster than the Swiss market (3.3% per year).

High Growth Revenue: COTN's revenue (8% 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 (14.6%).


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 is currently unprofitable.

Growing Profit Margin: COTN is currently unprofitable.


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 (6.4%).


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) exceed its short term liabilities (CHF107.1M).

Long Term Liabilities: COTN's short term assets (CHF199.1M) exceed its long term liabilities (CHF85.0M).


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.


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).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: COTN has been profitable on average in the past, therefore cash runway is not a concern.

Forecast Cash Runway: COTN has been profitable on average in the past, therefore cash runway is not a concern.


Next Steps

Dividend

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

0.88%

Current Dividend Yield


Dividend Yield vs Market

company0.9%marketbottom25%1.7%markettop25%3.4%industryaverage2.5%forecastin3Years1.3%

Current dividend yield vs market & industry

Notable Dividend: COTN's dividend (0.88%) isn’t notable compared to the bottom 25% of dividend payers in the Swiss market (1.74%).

High Dividend: COTN's dividend (0.88%) is low compared to the top 25% of dividend payers in the Swiss market (3.38%).


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

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

2.1yrs

Average management tenure


CEO

Heinz Kundert (67yo)

0.7yrs

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 ...


Leadership Team

NamePositionTenureCompensationOwnership
Heinz Kundert
Chairman of the Board & Interim CEO0.7yrsno datano data
Eric Dubuis
Chief Information Officer & Interim Chief HR Officer14.3yrsno data0.015% CHF159.8k
Ines Najorka
VP of Corporate Communications & Secretary0yrsno datano data
Michael Kammerer
President of Plasma Control Technologies Division12.1yrsno data0.024% CHF256.5k
Stephan Haferl
President of X-Ray Modules Division2.1yrsno data0.0019% CHF20.6k
Thomas Wenzel
President of X-Ray Systems Division1.2yrsno data0.00094% CHF10.0k

2.1yrs

Average Tenure

55yo

Average Age

Experienced Management: COTN's management team is considered experienced (2.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Heinz Kundert
Chairman of the Board & Interim CEO0.7yrsno datano data
Franz Richter
Non-Executive Director3.8yrsCHF107.30k0.0066% CHF70.3k
Patrick Jany
Vice Chairman & Independent Lead Director0.8yrsno datano data
Rolf Huber
Non-Executive Director12.1yrsCHF107.30k0.18% CHF1.9m
Christoph Kutter
Independent Director0.8yrsno datano data
Gian-Luca Bona
Non-Executive Director7.8yrsCHF107.30k0.073% CHF773.8k
Mariel Hoch
Non-Executive Director3.8yrsCHF107.30k0.0066% CHF70.3k

3.8yrs

Average Tenure

58yo

Average Age

Experienced Board: COTN's board of directors are considered experienced (3.8 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

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: CHF1.061b
  • 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 Control Technologies; X-Ray Systems; Industrial X-Ray Modules; and ebeam Technologies. The Plasma Control Technologies segment develops, manufactures, and markets vacuum capacitors, RF generators, and RF impedance matching networks for the high-precision control of plasma processes required in the production of memory chips and flat panel displays. The X-Ray Systems segment develops, manufactures, and markets X-ray systems and services for non-destructive testing using X-ray and microfocus technology, and computed tomography. The Industrial X-Ray Modules segment develops, manufactures, and markets compact X-ray sources and portable X-ray modules for non-destructive testing, steel metrology, and airport security inspection. The ebeam Technologies segment develops, manufactures, and markets compact ebeam sets and whole ebeam systems for the treatment of surfaces in the food and printing industries. The company offers its products under the Comet, Yxlon, and ebeam brand names. Its products are used in electronics, automotive, foundries, aerospace, energy, semiconductor, and solar industries, as well as in airport security applications. Comet Holding AG was founded in 1948 and is headquartered in Flamatt, Switzerland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/23 20:39
End of Day Share Price2020/02/21 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.