DB:PWO

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Progress-Werk Oberkirch

Executive Summary

Progress-Werk Oberkirch AG develops and manufactures advanced metal components and subsystems used in lightweight construction for the automotive safety and comfort in Germany, rest of Europe, North America, and Asia.


Snowflake Analysis

Very undervalued with excellent balance sheet.

Share Price & News

How has Progress-Werk Oberkirch's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

4.7%

PWO

-0.8%

DE Auto Components

0.7%

DE Market


1 Year Return

-30.2%

PWO

-21.8%

DE Auto Components

3.9%

DE Market

Return vs Industry: PWO underperformed the German Auto Components industry which returned -21.8% over the past year.

Return vs Market: PWO underperformed the German Market which returned 3.9% over the past year.


Shareholder returns

PWOIndustryMarket
7 Day4.7%-0.8%0.7%
30 Day1.1%-0.8%5.3%
90 Day-9.2%13.5%17.3%
1 Year-30.2%-30.2%-20.2%-21.8%6.2%3.9%
3 Year-55.9%-59.8%-49.7%-53.3%1.8%-6.2%
5 Year-47.4%-55.5%-53.2%-57.6%9.3%-5.4%

Price Volatility Vs. Market

How volatile is Progress-Werk Oberkirch's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Progress-Werk Oberkirch undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PWO (€17.8) is trading below our estimate of fair value (€38.88)

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


Price To Earnings Ratio

PE vs Industry: PWO is good value based on its PE Ratio (6.1x) compared to the DE Auto Components industry average (17.3x).

PE vs Market: PWO is good value based on its PE Ratio (6.1x) compared to the German market (21x).


Price to Earnings Growth Ratio

PEG Ratio: PWO is good value based on its PEG Ratio (0.3x)


Price to Book Ratio

PB vs Industry: PWO is good value based on its PB Ratio (0.5x) compared to the DE Auto Components industry average (0.7x).


Next Steps

Future Growth

How is Progress-Werk Oberkirch forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

23.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PWO's forecast earnings growth (23.5% per year) is above the savings rate (0.2%).

Earnings vs Market: PWO's earnings (23.5% per year) are forecast to grow faster than the German market (22.3% per year).

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

Revenue vs Market: PWO's revenue (2.2% per year) is forecast to grow slower than the German market (5.9% per year).

High Growth Revenue: PWO's revenue (2.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

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


Next Steps

Past Performance

How has Progress-Werk Oberkirch performed over the past 5 years?

-0.05%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PWO has high quality earnings.

Growing Profit Margin: PWO's current net profit margins (2.1%) are higher than last year (1.2%).


Past Earnings Growth Analysis

Earnings Trend: PWO's earnings have declined by -0.05% per year over the past 5 years.

Accelerating Growth: PWO's earnings growth over the past year (56.9%) exceeds its 5-year average (-0.05% per year).

Earnings vs Industry: PWO earnings growth over the past year (56.9%) exceeded the Auto Components industry -50.2%.


Return on Equity

High ROE: PWO's Return on Equity (7.6%) is considered low.


Next Steps

Financial Health

How is Progress-Werk Oberkirch's financial position?


Financial Position Analysis

Short Term Liabilities: PWO's short term assets (€152.1M) exceed its short term liabilities (€124.4M).

Long Term Liabilities: PWO's short term assets (€152.1M) exceed its long term liabilities (€147.0M).


Debt to Equity History and Analysis

Debt Level: PWO's debt to equity ratio (97.5%) is considered high.

Reducing Debt: PWO's debt to equity ratio has reduced from 140.3% to 97.5% over the past 5 years.

Debt Coverage: PWO's debt is well covered by operating cash flow (42.3%).

Interest Coverage: PWO's interest payments on its debt are well covered by EBIT (3.5x coverage).


Balance Sheet


Next Steps

Dividend

What is Progress-Werk Oberkirch current dividend yield, its reliability and sustainability?

4.61%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate PWO's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate PWO's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PWO's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PWO's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: PWO is not paying a notable dividend for the German market.


Future Payout to Shareholders

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


Next Steps

Management

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

4.2yrs

Average board tenure


CEO

Volker Simon (58yo)

6yrs

Tenure

€722,000

Compensation

Dr. Volker Simon has been the Chief Executive Officer of Progress Werk Oberkirch AG since July 01, 2014 and has been its Member of Management Board since July 1, 2001. Dr. Simon served as Director of Sales ...


CEO Compensation Analysis

Compensation vs Market: Volker's total compensation ($USD816.83K) is above average for companies of similar size in the German market ($USD468.99K).

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


Board Members

NamePositionTenureCompensationOwnership
Jochen Ruetz
Member of Supervisory Board2.17yrs€37.00kno data
Dieter Maier
Honorary Chairman of Supervisory Board4.17yrsno datano data
Karl Schmidhuber
Chairman of Supervisory Board4.17yrs€80.00kno data
Herbert König
Employee Representative Member of Supervisory Board14.17yrs€40.00kno data
Georg Hengstberger
Deputy Chairman of Supervisory Board2.17yrs€61.00kno data
Carsten Claus
Member of Supervisory Board2.17yrs€48.00kno data
Gerhard Schrempp
Employee Representative Member of Supervisory Board4.17yrs€30.00kno data

4.2yrs

Average Tenure

59.5yo

Average Age

Experienced Board: PWO's board of directors are considered experienced (4.2 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

Progress-Werk Oberkirch AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Progress-Werk Oberkirch AG
  • Ticker: PWO
  • Exchange: DB
  • Founded: 1919
  • Industry: Auto Parts and Equipment
  • Sector: Automobiles
  • Market Cap: €55.938m
  • Shares outstanding: 3.13m
  • Website: https://www.progress-werk.de

Number of Employees


Location

  • Progress-Werk Oberkirch AG
  • Industriestrasse 8
  • Oberkirch
  • Baden-Württemberg
  • 77704
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PWODB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
PWOXTRA (XETRA Trading Platform)YesOrdinary SharesDEEURJan 1992
0NHLLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
PWOdBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992

Biography

Progress-Werk Oberkirch AG develops and manufactures advanced metal components and subsystems used in lightweight construction for the automotive safety and comfort in Germany, rest of Europe, North America, and Asia. It offers mechanical components for electrical and electronic applications, such as motor housings, housings for electronic control units, rotor housings, and covers for electronic control units. The company also provides safety components for airbags, seats, and steering systems; and structural components and sub-systems for vehicle body and chassis consisting of body components, instrument panel carriers, and air spring pots. The company was founded in 1919 and is headquartered in Oberkirch, Germany. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/12 21:48
End of Day Share Price2020/07/10 00:00
Earnings2020/03/31
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.