DB:TUB

Stock Analysis Report

HSBC Trinkaus & Burkhardt

Executive Summary

HSBC Trinkaus & Burkhardt AG provides various banking products and services to companies, institutional clients, the public sector, and high net worth private clients in Germany.

Rewards

Trading at 40.6% below its fair value

Risk Analysis

Earnings have declined by -5.75% per year over past 5 years

Dividend of 5.9% is not well covered by earnings



Snowflake Analysis

Excellent balance sheet and good value.

Share Price & News

How has HSBC Trinkaus & Burkhardt's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

0%

TUB

-0.6%

DE Banks

-0.3%

DE Market


1 Year Return

-22.2%

TUB

-17.8%

DE Banks

14.9%

DE Market

Return vs Industry: TUB underperformed the German Banks industry which returned -17.8% over the past year.

Return vs Market: TUB underperformed the German Market which returned 14.9% over the past year.


Shareholder returns

TUBIndustryMarket
7 Day0%-0.6%-0.3%
30 Day-5.4%-6.2%-0.1%
90 Day-9.0%-2.2%7.1%
1 Year-18.2%-22.2%-15.2%-17.8%18.5%14.9%
3 Year-22.7%-31.6%-21.7%-25.4%20.0%9.5%
5 Year-24.5%-37.9%-5.6%-28.4%38.0%19.3%

Price Volatility Vs. Market

How volatile is HSBC Trinkaus & Burkhardt's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is HSBC Trinkaus & Burkhardt undervalued compared to its fair value and its price relative to the market?

40.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TUB (€42.4) is trading below our estimate of fair value (€71.38)

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


Price To Earnings Ratio

PE vs Industry: TUB is poor value based on its PE Ratio (17.1x) compared to the Banks industry average (15.9x).

PE vs Market: TUB is good value based on its PE Ratio (17.1x) compared to the German market (20.4x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: TUB is good value based on its PB Ratio (0.6x) compared to the DE Banks industry average (0.8x).


Next Steps

Future Growth

How is HSBC Trinkaus & Burkhardt forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

7.7%

Forecasted Banks industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as HSBC Trinkaus & Burkhardt has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has HSBC Trinkaus & Burkhardt performed over the past 5 years?

-5.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TUB has high quality earnings.

Growing Profit Margin: TUB's current net profit margins (11.8%) are lower than last year (15.9%).


Past Earnings Growth Analysis

Earnings Trend: TUB's earnings have declined by -5.8% per year over the past 5 years.

Accelerating Growth: TUB's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TUB had negative earnings growth (-27.5%) over the past year, making it difficult to compare to the Banks industry average (3.9%).


Return on Equity

High ROE: TUB's Return on Equity (3.8%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is HSBC Trinkaus & Burkhardt'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: TUB has a low level of unsold assets or inventory.

Debt Coverage by Assets: TUB's debt is covered by short term assets (assets are 4.6x debt).


Financial Institutions Analysis

Asset Level: TUB's level of assets compared to its equity is moderate.

Allowance for Bad Loans: TUB has a low allowance for bad loans.

Low Risk Liabilities: TUB's liabilities are made up of primarily low risk sources of funding.

Loan Level: TUB has an acceptable proportion of non-loan assets held.

Low Risk Deposits: TUB's loans are broadly funded by customer deposits.

Level of Bad Loans: TUB has an appropriate level of bad loans (1.82%)


Next Steps

Dividend

What is HSBC Trinkaus & Burkhardt's current dividend yield, its reliability and sustainability?

5.90%

Current Dividend Yield


Dividend Yield vs Market

company5.9%marketbottom25%1.4%markettop25%3.6%industryaverage3.8%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: TUB's dividend (5.9%) is higher than the bottom 25% of dividend payers in the German market (1.37%).

High Dividend: TUB's dividend (5.9%) is in the top 25% of dividend payers in the German market (3.57%)


Stability and Growth of Payments

Stable Dividend: TUB's dividends per share have been stable in the past 10 years.

Growing Dividend: TUB's dividend payments have not increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (101%), TUB's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of HSBC Trinkaus & Burkhardt's salary, the management and board of directors tenure and is there insider trading?

1.8yrs

Average management tenure


CEO

Carola von Schmettow (55yo)

0yrs

Tenure

€3,334,600

Compensation

Ms. Carola Gräfin von Schmettow serves as the Chief Executive Officer of Germany at HSBC Bank Plc and HSBC Holdings. Ms. von Schmettow served as Chief Executive Officer of HSBC Trinkaus & Burkhardt AG. She ...


Management Age and Tenure

1.8yrs

Average Tenure

55yo

Average Age

Experienced Management: TUB's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Age and Tenure

4.5yrs

Average Tenure

73yo

Average Age

Experienced Board: TUB'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

  • Carola von Schmettow (55yo)

    Chairwoman of the Management Board

    • Tenure: 0yrs
    • Compensation: €3.33m
  • Thomas Runge (47yo)

    Executive VP & COO

    • Tenure: 0.9yrs
  • Rudolf Eduard Apenbrink (56yo)

    Member of Management Board & Executive Director of HSBC Global Asset Management (Deutschland) Gmbh

    • Tenure: 4.5yrs
  • Jan Wilmanns

    Head of Institutional & Corporate Clients - Global Markets Segment and Member of Management Board

    • Tenure: 2.4yrs
  • Fredun Mazaheri

    Member of Management Board

    • Tenure: 2.6yrs
  • Wilhelm Lennartz

    Senior Manager Employee Communications

    • Tenure: 0yrs
  • Nicolo Salsano

    Head of Corporate & Institutional Banking and Member of Management Board

    • Tenure: 1.2yrs
  • Andreas Kamp

    CFO & Member of the Management Board

    • Tenure: 0.9yrs

Board Members

  • Herbert Jacobi (85yo)

    Honorary Chairman of the Supervisory Board

    • Tenure: 15.5yrs
  • Ulrich Lehner (73yo)

    Member of Advisory Board

    • Tenure: 8.4yrs
  • Werner Wenning (73yo)

    Member of Advisory Board

    • Tenure: 0yrs
  • Dieter Vogel (78yo)

    Member of Advisory Board

    • Tenure: 0yrs
  • Andreas J. Schmitz (59yo)

    Supervisory Board Chairman

    • Tenure: 4.5yrs
    • Compensation: €3.46m
  • Sieghardt Rometsch (80yo)

    Member of Advisory Board

    • Tenure: 4yrs
  • Renate Köcher (67yo)

    Member of Advisory Board

    • Tenure: 0yrs
  • Eric Strutz (55yo)

    Supervisory Board Member

    • Tenure: 4.5yrs
  • Udo van Meeteren

    Member of Advisory Board

    • Tenure: 0yrs
  • Friedrich Merz (64yo)

    Chairman of Advisory Board

    • Tenure: 0yrs

Company Information

HSBC Trinkaus & Burkhardt AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: HSBC Trinkaus & Burkhardt AG
  • Ticker: TUB
  • Exchange: DB
  • Founded: 1785
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €1.439b
  • Shares outstanding: 34.09m
  • Website: https://www.hsbc.de

Number of Employees


Location

  • HSBC Trinkaus & Burkhardt AG
  • Königsallee 21/23
  • Dusseldorf
  • North Rhine-Westphalia
  • 40212
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TUBDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992

Biography

HSBC Trinkaus & Burkhardt AG provides various banking products and services to companies, institutional clients, the public sector, and high net worth private clients in Germany. The company operates throu ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/08 20:48
End of Day Share Price2019/12/06 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.