XTRA:OHB

Stock Analysis Report

Executive Summary

OHB SE operates as an aerospace and technology company in Germany and internationally.

Snowflake

Fundamentals

Adequate balance sheet average dividend payer.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-0.5%

OHB

-0.7%

DE Aerospace & Defense

1.4%

DE Market


1 Year Return

-0.8%

OHB

11.4%

DE Aerospace & Defense

3.7%

DE Market

Return vs Industry: OHB underperformed the German Aerospace & Defense industry which returned 11.4% over the past year.

Return vs Market: OHB underperformed the German Market which returned 3.7% over the past year.


Shareholder returns

OHBIndustryMarket
7 Day-0.5%-0.7%1.4%
30 Day0.3%-3.8%1.8%
90 Day1.4%-2.2%3.4%
1 Year0.6%-0.8%13.8%11.4%7.0%3.7%
3 Year76.0%69.0%73.5%62.5%18.5%8.3%
5 Year76.8%63.1%136.6%107.8%42.2%22.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

48.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: OHB (€32.8) is trading below our estimate of fair value (€63.98)

Significantly Undervalued: OHB is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: OHB is poor value based on its PE Ratio (22.3x) compared to the Aerospace & Defense industry average (21.7x).

PE vs Market: OHB is poor value based on its PE Ratio (22.3x) compared to the German market (19.3x).


Price to Earnings Growth Ratio

Low PEG Ratio: OHB is poor value based on its PEG Ratio (1.3x)


Price to Book Ratio

PB vs Industry: OHB is overvalued based on its PB Ratio (3.2x) compared to the XE Aerospace & Defense industry average (1.9x).


Next Steps

Future Growth

How is OHB forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

16.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: OHB's forecast earnings growth (16.6% per year) is above the savings rate (0.2%).

Earnings vs Market: OHB's earnings (16.6% per year) are forecast to grow faster than the German market (12.6% per year).

High Growth Earnings: OHB's earnings are forecast to grow, but not significantly.

Revenue vs Market: OHB's revenue (6.2% per year) is forecast to grow faster than the German market (5% per year).

High Growth Revenue: OHB's revenue (6.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: OHB's Return on Equity is forecast to be low in 3 years time (15.5%).


Next Steps

Past Performance

How has OHB performed over the past 5 years?

0.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: OHB's earnings have grown by 0.7% per year over the past 5 years.

Accelerating Growth: OHB's earnings growth over the past year (6.4%) exceeds its 5-year average (0.7% per year).

Earnings vs Industry: OHB earnings growth over the past year (6.4%) underperformed the Aerospace & Defense industry 16.4%.


Return on Equity

High ROE: OHB's Return on Equity (14.1%) is considered low.


Return on Assets

ROA vs Industry: OHB's Return on Assets is below or equal to the Aerospace & Defense industry average last year.


Return on Capital Employed

ROCE Improving: OHB's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is OHB's financial position?


Financial Position Analysis

Short Term Liabilities: OHB's short term assets (€527.4M) exceeds its short term liabilities (€444.8M)

Long Term Liabilities: OHB's short term assets (527.4M) exceeds its long term liabilities (231.9M)


Debt to Equity History and Analysis

Debt Level: OHB's debt to equity ratio (83.3%) is considered high

Reducing Debt: OHB's debt to equity ratio has reduced from 83.9% to 83.3% over the past 5 years.

Debt Coverage: OHB's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: OHB's interest payments on its debt are well covered by EBIT (22.7x coverage).


Balance Sheet

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

Debt Coverage by Assets: OHB's debt is covered by short term assets (assets are 3.128190x debt).


Next Steps

Dividend

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

1.31%

Current Dividend Yield


Dividend Yield vs Market

company1.3%marketbottom25%1.5%markettop25%3.8%industryaverage1.7%forecastin3Years1.6%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: OHB's dividend (1.31%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.46%).

High Dividend: OHB's dividend (1.31%) is low compared to the top 25% of dividend payers in the German market (3.8%).

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

Growing Dividend: OHB's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (29.2%), OHB's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: OHB's dividends in 3 years are forecast to be well covered by earnings (27.5% payout ratio).


Next Steps

Management

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

7.1yrs

Average management tenure


CEO

Marco Fuchs (57yo)

19.8yrs

Tenure

€1,025,000

Compensation

Mr. Marco R. Fuchs has served as a Chief Executive Officer and Member of Management Board since 2000 and served as Chairman of the Management Board at OHB SE. He is the Chief Executive Officer and Chairman ...


CEO Compensation Analysis

Compensation vs. Market: Marco's total compensation ($USD1.14M) is about average for companies of similar size in the German market ($USD1.17M).

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


Management Age and Tenure

7.1yrs

Average Tenure

57yo

Average Age

Experienced Management: OHB's management team is seasoned and experienced (7.1 years average tenure).


Board Age and Tenure

1.5yrs

Average Tenure

72.5yo

Average Age

Experienced Board: OHB's board of directors are not considered experienced ( 1.5 years average tenure), which suggests a new board.


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

  • Hans Steininger

    Chief Executive Officer of MT Aerospace AG

    • Tenure: 0yrs
  • Marco Fuchs (57yo)

    CEO & Member of Management Board

    • Tenure: 19.8yrs
    • Compensation: €1.03m
  • Christa Fuchs (81yo)

    Supervisory Board Member & Founder

    • Tenure: 17.8yrs
    • Compensation: €30.00k
  • Lanfranco Zucconi

    President of Telematic Soltutions S P A

    • Tenure: 0yrs
  • Kurt Melching (57yo)

    CFO & Member of Management Board

    • Tenure: 0yrs
    • Compensation: €355.94k
  • Avigdor Blasberger

    MD of OHB-Electro Optics GmbH & Director of Space Systems - ELOP Electrooptics Industries Ltd

    • Tenure: 0yrs
  • Lutz Bertling (57yo)

    Head of Corp. & Business Development

    • Tenure: 1.5yrs
    • Compensation: €1.09m
  • Berry Smutny (56yo)

    Chief Executive Officer of OHB System AG

    • Tenure: 10.3yrs
  • Jürgen Breitkopf

    Chief Executive Officer of Kayser-Threde Gmbh

    • Tenure: 0yrs
  • Klaus Hofmann (59yo)

    Chief Human Resources Officer & Member of the Management Board

    • Tenure: 3.9yrs
    • Compensation: €423.00k

Board Members

  • Christa Fuchs (81yo)

    Supervisory Board Member & Founder

    • Tenure: 17.8yrs
    • Compensation: €30.00k
  • Heinz Stoewer (79yo)

    Deputy Chairman of the Supervisory Board

    • Tenure: 0yrs
    • Compensation: €20.00k
  • Ingo Kramer (66yo)

    Additional Member of the Supervisory Board

    • Tenure: 1.3yrs
  • Robert Wethmar (58yo)

    Chairman of Supervisory Board

    • Tenure: 1.5yrs
    • Compensation: €25.00k

Company Information

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


Key Information

  • Name: OHB SE
  • Ticker: OHB
  • Exchange: XTRA
  • Founded:
  • Industry: Aerospace and Defense
  • Sector: Capital Goods
  • Market Cap: €570.723m
  • Shares outstanding: 17.40m
  • Website: https://www.ohb.de

Number of Employees


Location

  • OHB SE
  • Manfred-Fuchs-Platz 2-4
  • Bremen
  • Bremen
  • 28359
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
OHBDB (Deutsche Boerse AG)YesOrdinary Bearer SharesDEEURMar 2001
OHBXTRA (XETRA Trading Platform)YesOrdinary Bearer SharesDEEURMar 2001
0FH7LSE (London Stock Exchange)YesOrdinary Bearer SharesGBEURMar 2001
OHBT.FOTCPK (Pink Sheets LLC)YesOrdinary Bearer SharesUSUSDMar 2001
OHBDBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary Bearer SharesGBEURMar 2001

Biography

OHB SE operates as an aerospace and technology company in Germany and internationally. It produces and distributes products and projects, as well as provides technology services primarily in the areas of s ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/18 21:00
End of Day Share Price2019/10/18 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.