Executive Summary
ProCredit Holding AG & Co. KGaA, through its subsidiaries, operates as a development-oriented commercial banking company that offers various financial services to small and medium businesses, and private individuals in Germany, Eastern Europe, South Eastern Europe, and South America.
Rewards
Risk Analysis
Snowflake Analysis
Very undervalued with solid track record and pays a dividend.
Similar Companies
Share Price & News
How has ProCredit Holding KGaA's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: PCZ has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-0.7%
PCZ
1.3%
DE Banks
0.7%
DE Market
1 Year Return
-28.3%
PCZ
-16.1%
DE Banks
15.1%
DE Market
Return vs Industry: PCZ underperformed the German Banks industry which returned -16.1% over the past year.
Return vs Market: PCZ underperformed the German Market which returned 15.1% over the past year.
Shareholder returns
| PCZ | Industry | Market | |
|---|---|---|---|
| 7 Day | -0.7% | 1.3% | 0.7% |
| 30 Day | -8.4% | -6.9% | -0.7% |
| 90 Day | -2.1% | -3.2% | 5.9% |
| 1 Year | -25.8%-28.3% | -13.4%-16.1% | 18.7%15.1% |
| 3 Year | n/a | -22.4%-26.0% | 19.2%8.6% |
| 5 Year | n/a | -2.9%-26.4% | 39.0%20.1% |
Price Volatility Vs. Market
How volatile is ProCredit Holding KGaA's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 days ago | Simply Wall St
Is ProCredit Holding AG & Co. KGaA's (ETR:PCZ) 4.1% Dividend Worth Your Time?1 month ago | Simply Wall St
Did Changing Sentiment Drive ProCredit Holding KGaA's (ETR:PCZ) Share Price Down By 32%?3 months ago | Simply Wall St
Does ProCredit Holding AG & Co. KGaA's (ETR:PCZ) September Stock Price Reflect Its Future Growth?Valuation
Is ProCredit Holding KGaA undervalued compared to its fair value and its price relative to the market?
34.4%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: PCZ (€7.1) is trading below our estimate of fair value (€10.83)
Significantly Below Fair Value: PCZ is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: PCZ is good value based on its PE Ratio (7.2x) compared to the Banks industry average (16.2x).
PE vs Market: PCZ is good value based on its PE Ratio (7.2x) compared to the German market (20.8x).
Price to Earnings Growth Ratio
PEG Ratio: PCZ is good value based on its PEG Ratio (0.6x)
Price to Book Ratio
PB vs Industry: PCZ is good value based on its PB Ratio (0.5x) compared to the DE Banks industry average (0.8x).
Next Steps
Future Growth
How is ProCredit Holding KGaA forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
11.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PCZ's forecast earnings growth (11% per year) is above the savings rate (-0.4%).
Earnings vs Market: PCZ's earnings (11% per year) are forecast to grow slower than the German market (13.2% per year).
High Growth Earnings: PCZ's earnings are forecast to grow, but not significantly.
Revenue vs Market: PCZ's revenue (7.1% per year) is forecast to grow faster than the German market (4.9% per year).
High Growth Revenue: PCZ's revenue (7.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: PCZ's Return on Equity is forecast to be low in 3 years time (8%).
Next Steps
Past Performance
How has ProCredit Holding KGaA performed over the past 5 years?
5.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PCZ has high quality earnings.
Growing Profit Margin: PCZ's current net profit margins (22.9%) are higher than last year (22.7%).
Past Earnings Growth Analysis
Earnings Trend: PCZ's earnings have grown by 5.8% per year over the past 5 years.
Accelerating Growth: PCZ's earnings growth over the past year (6.1%) exceeds its 5-year average (5.8% per year).
Earnings vs Industry: PCZ earnings growth over the past year (6.1%) exceeded the Banks industry 3.9%.
Return on Equity
High ROE: PCZ's Return on Equity (7.5%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is ProCredit Holding KGaA's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: PCZ has a low level of unsold assets or inventory.
Debt Coverage by Assets: PCZ's debt is not covered by short term assets (assets are 0.7x debt).
Financial Institutions Analysis
Asset Level: PCZ's level of assets compared to its equity is low.
Allowance for Bad Loans: PCZ has a low allowance for bad loans.
Low Risk Liabilities: PCZ's liabilities are made up of primarily low risk sources of funding.
Loan Level: PCZ has an acceptable proportion of non-loan assets held.
Low Risk Deposits: PCZ's loans are broadly funded by customer deposits.
Level of Bad Loans: PCZ has a high level of bad loans (2.57%)
Next Steps
Dividend
What is ProCredit Holding KGaA's current dividend yield, its reliability and sustainability?
4.23%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: PCZ's dividend (4.23%) is higher than the bottom 25% of dividend payers in the German market (1.38%).
High Dividend: PCZ's dividend (4.23%) is in the top 25% of dividend payers in the German market (3.61%)
Stability and Growth of Payments
Stable Dividend: PCZ has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: PCZ has only been paying a dividend for 3 years, and since then payments have fallen.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (30.2%), PCZ's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: PCZ's dividends in 3 years are forecast to be well covered by earnings (33.3% payout ratio).
Next Steps
Management
What is the CEO of ProCredit Holding KGaA's salary, the management and board of directors tenure and is there insider trading?
4.5yrs
Average board tenure
CEO
ProCredit Holding KGaA has no CEO, or we have no data on them.
Board Age and Tenure
4.5yrs
Average Tenure
Experienced Board: PCZ's board of directors are considered experienced (4.5 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
Gabriel Schor (67yo)
MD & Member of the Management Board of Procredit General Partner AG
- Tenure: 0yrs
- Compensation: €187.22k
Rossana Mazzilli
Chief Legal Counsel
- Tenure: 0yrs
Sandrine Massiani (48yo)
Member of the Management Board of Procredit General Partner AG
- Tenure: 2.8yrs
- Compensation: €187.14k
Board Members
Rainer Ottenstein (61yo)
Supervisory Board Member
- Tenure: 3.1yrs
Claus-Peter Zeitinger
Supervisory Board Chairman
- Tenure: 0yrs
Jasper Snoek
Supervisory Board Member
- Tenure: 12.9yrs
Petar Slavov
Member of Supervisory Board
- Tenure: 5.9yrs
Christian Krämer
Supervisory Board Vice Chairman
- Tenure: 0yrs
Marianne Loner
Supervisory Board Member
- Tenure: 2.6yrs
Company Information
ProCredit Holding AG & Co. KGaA's company bio, employee growth, exchange listings and data sources
Key Information
- Name: ProCredit Holding AG & Co. KGaA
- Ticker: PCZ
- Exchange: XTRA
- Founded: 1998
- Industry: Diversified Banks
- Sector: Banks
- Market Cap: €418.179m
- Shares outstanding: 58.90m
- Website: https://www.procredit-holding.com
Number of Employees
Location
- ProCredit Holding AG & Co. KGaA
- Rohmerplatz 33-37
- Frankfurt am Main
- Hessen
- 60486
- Germany
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| PCZ | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Dec 2016 |
| 0RL9 | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | EUR | Dec 2016 |
| PCZ | XTRA (XETRA Trading Platform) | Yes | Ordinary Shares | DE | EUR | Dec 2016 |
Biography
ProCredit Holding AG & Co. KGaA, through its subsidiaries, operates as a development-oriented commercial banking company that offers various financial services to small and medium businesses, and private i ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/12/10 23:01 |
| End of Day Share Price | 2019/12/10 00:00 |
| Earnings | 2019/09/30 |
| 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.