XTRA:NDX1

Stock Analysis Report

Executive Summary

Nordex SE, together with its subsidiaries, develops, manufactures, and distributes multi-megawatt onshore wind turbines worldwide.

Snowflake

Fundamentals

Imperfect balance sheet and overvalued.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

3.9%

NDX1

-1.1%

DE Electrical

4.4%

DE Market


1 Year Return

38.4%

NDX1

32.9%

DE Electrical

1.6%

DE Market

Return vs Industry: NDX1 exceeded the German Electrical industry which returned 32.9% over the past year.

Return vs Market: NDX1 exceeded the German Market which returned 1.6% over the past year.


Shareholder returns

NDX1IndustryMarket
7 Day3.9%-1.1%4.4%
30 Day17.0%2.8%0.8%
90 Day-11.6%11.0%2.3%
1 Year38.4%38.4%34.8%32.9%4.8%1.6%
3 Year-54.4%-54.4%-29.2%-32.7%18.9%8.6%
5 Year-12.7%-12.7%16.4%7.2%43.7%24.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

1.71x

Price to Book (PB) ratio


Share Price vs. Fair Value

Undervalued: NDX1 (€11.44) is trading above our estimate of fair value (€0.15)

Significantly Undervalued: NDX1 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: NDX1 is unprofitable, so we can't compare its PE Ratio to the Electrical industry average.

PE vs Market: NDX1 is unprofitable, so we can't compare its PE Ratio to the German market.


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate NDX1's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: NDX1 is good value based on its PB Ratio (1.7x) compared to the DE Electrical industry average (2x).


Next Steps

Future Growth

How is Nordex forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

93.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NDX1 is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: NDX1 is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: NDX1 is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: NDX1's revenue (8.1% per year) is forecast to grow faster than the German market (5% per year).

High Growth Revenue: NDX1's revenue (8.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: NDX1's Return on Equity is forecast to be low in 3 years time (6.2%).


Next Steps

Past Performance

How has Nordex performed over the past 5 years?

-48.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: NDX1 is unprofitable, and losses have increased over the past 5 years at a rate of -48.9% per year.

Accelerating Growth: Unable to compare NDX1's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: NDX1 is unprofitable, making it difficult to compare its past year earnings growth to the Electrical industry (-10.5%).


Return on Equity

High ROE: NDX1 has a negative Return on Equity (-15.27%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: NDX1 is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: NDX1 is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Nordex's financial position?


Financial Position Analysis

Short Term Liabilities: NDX1's short term assets (€2.4B) exceeds its short term liabilities (€2.2B)

Long Term Liabilities: NDX1's short term assets (2.4B) exceeds its long term liabilities (870.4M)


Debt to Equity History and Analysis

Debt Level: NDX1's debt to equity ratio (92.5%) is considered high

Reducing Debt: NDX1's debt to equity ratio has increased from 41.4% to 92.5% over the past 5 years.

Debt Coverage: NDX1's debt is not well covered by operating cash flow (19.5%).

Interest Coverage: Insufficient data to determine if NDX1's interest payments on its debt are well covered by EBIT.


Balance Sheet

Inventory Level: NDX1 has a high level of physical assets or inventory.

Debt Coverage by Assets: NDX1's debt is covered by short term assets (assets are 3.930840x debt).


Next Steps

Dividend

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

0.11%

Forecast Dividend Yield


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.8%industryaverage2.6%forecastin3Years0.1%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate NDX1's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate NDX1's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if NDX1's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if NDX1's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of NDX1's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

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

3.1yrs

Average management tenure


CEO

Jose Luis Blanco Diéguez (49yo)

2.6yrs

Tenure

€1,332,017

Compensation

Mr. Jose Luis Blanco Diéguez has been the Chairman of Management Board and Chief Executive Officer at Nordex SE since March 31, 2017 and its Member of Management Board since April 4, 2016. Mr. Blanco Diégu ...


CEO Compensation Analysis

Compensation vs. Market: Jose Luis's total compensation ($USD1.47M) is about average for companies of similar size in the German market ($USD1.59M).

Compensation vs Earnings: Jose Luis's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

3.1yrs

Average Tenure

49yo

Average Age

Experienced Management: NDX1's management team is considered experienced (3.1 years average tenure).


Board Age and Tenure

8.8yrs

Average Tenure

60yo

Average Age

Experienced Board: NDX1's board of directors are considered experienced (8.8 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


Management Team

  • Ralf Peters

    Head of Corporate Communications

    • Tenure: 0yrs
  • Jose Luis Blanco Diéguez (49yo)

    Chairman of Management Board & CEO

    • Tenure: 2.6yrs
    • Compensation: €1.33m
  • Patxi Landa (47yo)

    Chief Sales Officer & Member of Management Board

    • Tenure: 3.5yrs
    • Compensation: €751.80k
  • Christoph Burkhard (55yo)

    CFO & Member of Management Board

    • Tenure: 3.1yrs
    • Compensation: €796.90k
  • Felix Losada

    Deputy Head of Corporate Communications

    • Tenure: 0yrs
  • Felix Zander

    Head of Investor Relations

    • Tenure: 0yrs

Board Members

  • Wolfgang Ziebart (69yo)

    Chairman of Supervisory Board

    • Tenure: 0yrs
    • Compensation: €69.00k
  • Rafael Mateo Alcala (60yo)

    Member of Supervisory Board

    • Tenure: 3.3yrs
    • Compensation: €33.00k
  • Martin Wolfgang Rey

    Member of Supervisory Board

    • Tenure: 14.3yrs
    • Compensation: €36.00k
  • Jan Klatten

    Member of Supervisory Board

    • Tenure: 14.3yrs
    • Compensation: €39.00k
  • Juan Antonio Muro-Lara Girod

    Deputy Chairman of the Supervisory Board

    • Tenure: 0yrs
    • Compensation: €51.00k
  • Connie Hedegaard (59yo)

    Member of Supervisory Board

    • Tenure: 3.3yrs
    • Compensation: €33.00k

Company Information

Nordex SE's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Nordex SE
  • Ticker: NDX1
  • Exchange: XTRA
  • Founded: 1985
  • Industry: Heavy Electrical Equipment
  • Sector: Capital Goods
  • Market Cap: €1.220b
  • Shares outstanding: 106.68m
  • Website: https://www.nordex-online.com

Number of Employees


Location

  • Nordex SE
  • Langenhorner Chaussee 600
  • Hamburg
  • Hamburg
  • 22419
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NRDX.FOTCPK (Pink Sheets LLC)YesBearer SharesUSUSDApr 2001
NDX1DB (Deutsche Boerse AG)YesBearer SharesDEEURApr 2001
NDX1XTRA (XETRA Trading Platform)YesBearer SharesDEEURApr 2001
0MECLSE (London Stock Exchange)YesBearer SharesGBEURApr 2001
NDX1DBATS-CHIXE (BATS 'Chi-X Europe')YesBearer SharesGBEURApr 2001
NDX1SWX (SIX Swiss Exchange)YesBearer SharesCHCHFApr 2001
NDX1WBAG (Wiener Boerse AG)YesBearer SharesATEURApr 2001

Biography

Nordex SE, together with its subsidiaries, develops, manufactures, and distributes multi-megawatt onshore wind turbines worldwide. It also provides project development services, as well as acquires rights  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/16 20:53
End of Day Share Price2019/10/16 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.