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OSRAM Licht

XTRA:OSR
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
OSR
XTRA
€3B
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

OSRAM Licht AG provides various lighting products and solutions worldwide. The last earnings update was 4 days ago. More info.


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OSR Share Price and Events
7 Day Returns
-4.7%
XTRA:OSR
0.7%
DE Electrical
-0.4%
DE Market
1 Year Returns
-49%
XTRA:OSR
-13.6%
DE Electrical
-8.3%
DE Market
OSR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
OSRAM Licht (OSR) -4.7% 12.3% -7.9% -49% -7% -9.9%
DE Electrical 0.7% 12.1% -5.4% -13.6% -15.2% 14.2%
DE Market -0.4% 1.3% -6.3% -8.3% 25.7% 51.2%
1 Year Return vs Industry and Market
  • OSR underperformed the Electrical industry which returned -13.6% over the past year.
  • OSR underperformed the Market in Germany which returned -8.3% over the past year.
Price Volatility
OSR
Industry
5yr Volatility vs Market

OSR Value

 Is OSRAM Licht undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of OSRAM Licht to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for OSRAM Licht.

XTRA:OSR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.9%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for XTRA:OSR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 9.5%
Electrical Unlevered Beta Simply Wall St/ S&P Global 0.82
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.816 (1 + (1- 30%) (11.6%))
0.882
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.88
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.54% + (0.882 * 9.46%)
8.88%

Discounted Cash Flow Calculation for XTRA:OSR using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for OSRAM Licht is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

XTRA:OSR DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (EUR, Millions) 108.27 202.45 247.50 264.50 274.00
Source Analyst x3 Analyst x9 Analyst x2 Analyst x2 Analyst x2
Present Value
Discounted (@ 8.88%)
99.43 170.76 191.73 188.18 179.04
Present value of next 5 years cash flows €829.14
XTRA:OSR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= €274.00 × (1 + 0.54%) ÷ (8.88% – 0.54%)
€3,302.58
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= €3,302.58 ÷ (1 + 8.88%)5
€2,157.95
XTRA:OSR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= €829.14 + €2,157.95
€2,987.10
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €2,987.10 / 96.40
€30.99
XTRA:OSR Discount to Share Price
Calculation Result
Value per share (EUR) From above. €30.99
Current discount Discount to share price of €34.42
= -1 x (€34.42 - €30.99) / €30.99
-11.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of OSRAM Licht is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for OSRAM Licht's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are OSRAM Licht's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
XTRA:OSR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in EUR €1.44
XTRA:OSR Share Price ** XTRA (2018-11-09) in EUR €34.42
Germany Electrical Industry PE Ratio Median Figure of 9 Publicly-Listed Electrical Companies 23.89x
Germany Market PE Ratio Median Figure of 414 Publicly-Listed Companies 18.14x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of OSRAM Licht.

XTRA:OSR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= XTRA:OSR Share Price ÷ EPS (both in EUR)

= 34.42 ÷ 1.44

23.89x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • OSRAM Licht is good value based on earnings compared to the DE Electrical industry average.
  • OSRAM Licht is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does OSRAM Licht's expected growth come at a high price?
Raw Data
XTRA:OSR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.89x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
28.7%per year
Germany Electrical Industry PEG Ratio Median Figure of 6 Publicly-Listed Electrical Companies 0.84x
Germany Market PEG Ratio Median Figure of 271 Publicly-Listed Companies 1.42x

*Line of best fit is calculated by linear regression .

XTRA:OSR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 23.89x ÷ 28.7%

0.83x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • OSRAM Licht is good value based on expected growth next year.
Price based on value of assets
What value do investors place on OSRAM Licht's assets?
Raw Data
XTRA:OSR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in EUR €26.20
XTRA:OSR Share Price * XTRA (2018-11-09) in EUR €34.42
Germany Electrical Industry PB Ratio Median Figure of 13 Publicly-Listed Electrical Companies 1.7x
Germany Market PB Ratio Median Figure of 553 Publicly-Listed Companies 1.91x
XTRA:OSR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= XTRA:OSR Share Price ÷ Book Value per Share (both in EUR)

= 34.42 ÷ 26.20

1.31x

* Primary Listing of OSRAM Licht.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • OSRAM Licht is good value based on assets compared to the DE Electrical industry average.
X
Value checks
We assess OSRAM Licht's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electrical industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electrical industry average (and greater than 0)? (1 check)
  5. OSRAM Licht has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

OSR Future Performance

 How is OSRAM Licht expected to perform in the next 1 to 3 years based on estimates from 14 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
28.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is OSRAM Licht expected to grow at an attractive rate?
  • OSRAM Licht's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • OSRAM Licht's earnings growth is expected to exceed the Germany market average.
  • OSRAM Licht's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
XTRA:OSR Future Growth Rates Data Sources
Data Point Source Value (per year)
XTRA:OSR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 28.7%
XTRA:OSR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 4.6%
Germany Electrical Industry Earnings Growth Rate Market Cap Weighted Average 38.1%
Germany Electrical Industry Revenue Growth Rate Market Cap Weighted Average 9.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.4%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
XTRA:OSR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
XTRA:OSR Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-09-30 5,223 2
2022-09-30 5,045 2
2021-09-30 4,764 581 287 4
2020-09-30 4,501 605 275 14
2019-09-30 4,394 473 164 4
XTRA:OSR Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-09-30 4,115 279 139
2018-06-30 4,085 332 183
2018-03-31 4,124 445 215
2017-12-31 4,163 527 248
2017-09-30 4,128 548 271
2017-06-30 3,560 520 328
2017-03-31 3,946 314 291
2016-12-31 3,836 260 308
2016-09-30 3,785 187 531
2016-06-30 5,774 230 511
2016-03-31 2,661 464 597
2015-12-31 5,658 495 545

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • OSRAM Licht's earnings are expected to grow significantly at over 20% yearly.
  • OSRAM Licht's revenue is expected to grow by 4.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
XTRA:OSR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from OSRAM Licht Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XTRA:OSR Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-09-30
2022-09-30
2021-09-30 2.96 2.98 2.95 2.00
2020-09-30 2.82 4.08 2.36 12.00
2019-09-30 1.71 1.95 1.48 9.00
XTRA:OSR Past Financials Data
Date (Data in EUR Millions) EPS *
2018-09-30 1.44
2018-06-30 1.89
2018-03-31 2.23
2017-12-31 2.56
2017-09-30 2.79
2017-06-30 3.33
2017-03-31 2.91
2016-12-31 3.03
2016-09-30 5.14
2016-06-30 4.90
2016-03-31 5.71
2015-12-31 5.21

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • OSRAM Licht is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess OSRAM Licht's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
OSRAM Licht has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

OSR Past Performance

  How has OSRAM Licht performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare OSRAM Licht's growth in the last year to its industry (Electrical).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • OSRAM Licht's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • OSRAM Licht's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • OSRAM Licht's 1-year earnings growth is negative, it can't be compared to the DE Electrical industry average.
Earnings and Revenue History
OSRAM Licht's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from OSRAM Licht Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XTRA:OSR Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 4,115.00 139.00 702.00 421.00
2018-06-30 4,085.00 183.00 697.00 398.00
2018-03-31 4,124.00 215.00 700.00 387.00
2017-12-31 4,163.00 248.00 699.00 374.00
2017-09-30 4,128.00 271.00 697.00 364.00
2017-06-30 3,560.00 328.00 509.00 350.00
2017-03-31 3,946.00 291.00 661.00 351.00
2016-12-31 3,836.00 308.00 630.00 344.00
2016-09-30 3,785.00 531.00 604.00 334.00
2016-06-30 5,774.20 511.40 1,174.50 358.90
2016-03-31 2,661.00 597.00 344.00 272.00
2015-12-31 5,658.20 545.40 1,064.50 341.90
2015-09-30 3,572.00 223.00 604.00 286.00
2015-06-30 5,479.40 109.00 1,074.40 344.10
2015-03-31 5,329.90 88.90 1,063.20 343.20
2014-12-31 5,209.10 80.10 1,053.80 341.40
2014-09-30 5,142.10 187.90 1,005.30 331.40
2014-06-30 5,139.30 147.20 1,039.10 333.10
2014-03-31 5,214.60 115.90 1,069.80 330.30
2013-12-31 5,258.20 28.30 1,091.00 334.40
2013-09-30 5,288.70 27.60 1,119.60 341.20
2013-06-30 5,327.90 -62.10 1,081.20 341.00
2013-03-31 5,347.40 -20.20 1,070.50 343.80
2012-12-31 5,391.25 -163.45 1,061.65 339.40
2012-09-30 5,399.80 -392.20 1,053.30 332.50

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • OSRAM Licht has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • OSRAM Licht used its assets less efficiently than the DE Electrical industry average last year based on Return on Assets.
  • OSRAM Licht's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess OSRAM Licht's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electrical industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
OSRAM Licht has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

OSR Health

 How is OSRAM Licht's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up OSRAM Licht's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • OSRAM Licht is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • OSRAM Licht's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of OSRAM Licht's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 5.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from OSRAM Licht Company Filings, last reported 1 month ago.

XTRA:OSR Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 2,676.00 385.00 378.00
2018-06-30 2,473.00 192.00 360.00
2018-03-31 2,409.00 194.00 318.00
2017-12-31 2,481.00 198.00 561.00
2017-09-30 2,460.00 200.00 643.00
2017-06-30 2,457.00 212.00 821.00
2017-03-31 2,468.00 212.00 832.00
2016-12-31 2,574.00 221.00 544.00
2016-09-30 2,486.00 62.00 481.00
2016-06-30 2,622.00 92.00 734.00
2016-03-31 2,703.00 93.00 970.00
2015-12-31 2,825.00 85.00 1,163.00
2015-09-30 2,483.00 87.00 778.00
2015-06-30 2,476.10 97.30 684.70
2015-03-31 2,420.20 145.90 619.80
2014-12-31 2,351.20 162.80 708.20
2014-09-30 2,400.80 181.80 714.70
2014-06-30 2,335.60 186.80 655.20
2014-03-31 2,249.40 263.20 685.00
2013-12-31 2,221.50 342.70 642.10
2013-09-30 2,169.30 350.90 569.70
2013-06-30 2,202.40 859.10 347.30
2013-03-31 2,183.00 1,010.00 102.00
2012-12-31 1,949.60 1,246.60 75.50
2012-09-30 1,949.60 1,246.60 75.50
  • OSRAM Licht's level of debt (14.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (16.2% vs 14.4% today).
  • Debt is well covered by operating cash flow (72.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 29.7x coverage).
X
Financial health checks
We assess OSRAM Licht's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. OSRAM Licht has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

OSR Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.22%
Current annual income from OSRAM Licht dividends. Estimated to be 3.16% next year.
If you bought €2,000 of OSRAM Licht shares you are expected to receive €64 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • OSRAM Licht's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.49%).
  • OSRAM Licht's dividend is below the markets top 25% of dividend payers in Germany (3.8%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
XTRA:OSR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
Germany Electrical Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 2.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

XTRA:OSR Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-09-30
2022-09-30
2021-09-30 1.03 2.00
2020-09-30 1.18 15.00
2019-09-30 1.01 16.00
XTRA:OSR Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2017-11-30 1.110 2.339
2017-11-06 1.110 1.607
2016-12-05 1.000 1.631
2016-11-09 1.000 2.088
2015-12-07 0.900 2.003
2015-11-11 0.900 2.347
2014-12-04 0.900 2.032
2014-11-05 0.900 2.768

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, OSRAM Licht has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but OSRAM Licht only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of OSRAM Licht's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.4x coverage).
X
Income/ dividend checks
We assess OSRAM Licht's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can OSRAM Licht afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. OSRAM Licht has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

OSR Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Olaf Berlien
COMPENSATION €3,391,824
AGE 56
TENURE AS CEO 3.8 years
CEO Bio

Dr. Olaf Berlien has been the Chairman of the Managing Board and Chief Executive Officer at OSRAM GmbH since January 01, =2015. Dr. Berlien has been Chief Executive Officer of OSRAM Licht AG since January 1, 2015. He serves as the Chairman of the Managing Board for OSRAM Licht AG and has been its Member of management board since January 1, 2015. He serves as the Chairman and Member of Executive Board at Thyssenkrupp Immobilien Gmbh AG and Thyssenkrupp Werften Gmbh AG. Dr. Berlien serves as Member of Supervisory Board of Droege Group. He served as Chief Technology Officer and Labor Relations Director at OSRAM Licht AG He served as the Chairman of the Executive Board and Member of the Executive Board at ThyssenKrupp Elevator AG until April 2009 and also served as its Chief Executive Officer. He served as Executive Board Chairman of ThyssenKrupp Services AG from April 2009 to December 31, 2012. He served as the Head of Industrial Operations of ThyssenKrupp AG from August 1, 2006 to December 31, 2012 and served as its Chief Executive Officer of Elevator Technology Business Area until December 31, 2012. He served as Chief Executive Officer at the Elevator Technology business at ThyssenKrupp Services AG and also served as Member of Executive Board since April 2002 He served as Chairman of Executive Board and Chief Executive Officer of M+W Group GmbH since 2014 and also served as its Member of Executvie Board. He served as an Executive Board Member of ThyssenKrupp AG from April 1, 2002 to December 31, 2012. He served as Chairman of Executive Board of ThyssenKrupp Technologies Beteiligungen GmbH (alternate name ThyssenKrupp Technologies AG) from February 2004 to September 2009 and its Chief Executive Officer and Member of the Executive Board since April 1, 2002 until September 2009. He served as the Head of Plans and Controls of IBM Deutschland Entwicklung GmbH in Stuttgart/Berlin since 1992 and worked for it from 1988 to 1993. From 1984 to 1988, he served as Commercial Manager of his parents' company and managed the family business. He then worked for IBM Deutschland GmbH in Berlin and Mainz. He completed a traineeship in the Controlling department and was placed in charge of performance measurement and was a Product Controller for magnetic head production and a Product Controller for all products of the Berlin plant in 1991. He served as Head of Controlling, Chief Financial Officer and Commercial Manager of Buderus Heiztechnik GmbH in Wetzlar since 1993. He served as Commercial Managing Director and Chief Financial Officer of Buderus Ungarn Kft. in Budapest since 1994. Since 1996, he served as Head of the Industrial Metrology Division of Carl Zeiss in Oberkochen, Chairman of the Management Board and Managing Director of Carl Zeiss Industrielle Meßtechnik GmbH, Oberkochen and President of CZ IMT Corp. in Minneapolis/USA. From 1999 to March 2002, he served as Member of the Executive Board of Carl Zeiss, where he was responsible for Finance and Controlling, Information Technology, Personnel, International Sales and the Industrial Metrology Division. He worked at Buderus Heiztechnik GmbH from 1993 to 1996; Carl Zeiss AG from 1996 to 2002; and ThyssenKrupp AG from 2002 to 2013. He serves as Chairman of ThyssenKrupp Marine Systems AG, Berco S.p.A., and ThyssenKrupp (China) Ltd. He serves as Chairman of the Supervisory Board at OSRAM Opto Semiconductors Gesellschaft mit beschränkter Haftung. He has been a Member of Advisory Board at Diehl Verwaltungs-Stiftung since September 1, 2014. He serves as a Member of Supervisory Board at Droege International Group AG. He serves as a Member of Advisory Board at Diehl Stiftung & Co. KG. He has been a Member of Advisory Board at HSBC Trinkaus & Burkhardt AG since April 2008. He serves as a Member of Central Advisory Board at Commerzbank AG. He served as a Member of Supervisory Board at Dresdner Bank AG since January 1, 2007. He served as a Director of ALSO Holding AG (also known as ALSO-Actebis Holding AG) from March 13, 2014 to March 17, 2016. He served as a Member of Supervisory Board at ThyssenKrupp Services AG. He served as a Member of the Supervisory Board at Thyssenkrupp Automotive AG. He served as a Member of the Supervisory Board of Viterra AG since July 15, 2003. Dr. Berlien studied Business Administration at the Technical University in Berlin in 1990. In 1992, he was awarded a doctorate by the Technical University of Berlin.

CEO Compensation
  • Olaf's compensation has been consistent with company performance over the past year.
  • Olaf's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the OSRAM Licht management team in years:

3.1
Average Tenure
53
Average Age
  • The tenure for the OSRAM Licht management team is about average.
Management Team

Olaf Berlien

TITLE
CEO & Chairman of The Managing Board
COMPENSATION
€3M
AGE
56
TENURE
3.8 yrs

Ingo Bank

TITLE
CFO & Member of The Managing Board
COMPENSATION
€2M
AGE
50
TENURE
2.2 yrs

Stefan Kampmann

TITLE
CTO & Member of Management Board
COMPENSATION
€2M
AGE
55
TENURE
2.3 yrs

Ulrike Salb

TITLE
Head of Corporate Procurement & Member of The Supervisory Board
COMPENSATION
€77K
AGE
51
TENURE
4.8 yrs

Christoph Löhrke

TITLE
Deputy Head of Investor Relations

Andreas Spitzauer

TITLE
Head of Investor Relations
Board of Directors Tenure

Average tenure and age of the OSRAM Licht board of directors in years:

5.1
Average Tenure
54
Average Age
  • The tenure for the OSRAM Licht board of directors is about average.
Board of Directors

Peter Bauer

TITLE
Chairman of Supervisory Board
COMPENSATION
€150K
AGE
58
TENURE
5 yrs

Roland Busch

TITLE
Deputy Chairman of the Supervisory Board
COMPENSATION
€116K
AGE
54
TENURE
5 yrs

Michael Knuth

TITLE
Deputy Chairman of Supervisory Board
COMPENSATION
€123K
AGE
61
TENURE
5.2 yrs

Ulrike Salb

TITLE
Head of Corporate Procurement & Member of The Supervisory Board
COMPENSATION
€77K
AGE
51
TENURE
2.7 yrs

Margarete Haase

TITLE
Member of Supervisory Board
AGE
65
TENURE
0.8 yrs

Irene Schulz

TITLE
Member of Supervisory Board
COMPENSATION
€86K
AGE
54
TENURE
5.2 yrs

Thomas Wetzel

TITLE
Member of Supervisory Board
COMPENSATION
€86K
AGE
54
TENURE
5.2 yrs

Christine Bortenlänger

TITLE
Member of Supervisory Board
COMPENSATION
€86K
AGE
52
TENURE
5.3 yrs

Frank Lakerveld

TITLE
Member of Supervisory Board
COMPENSATION
€80K
AGE
71
TENURE
5.3 yrs

Alexander Müller

TITLE
Member of Supervisory Board
COMPENSATION
€48K
AGE
49
TENURE
1.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Start End Shares Max Price (€) Value (€)
X
Management checks
We assess OSRAM Licht's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. OSRAM Licht has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

OSR News

External News
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Simply Wall St News

Based On Its ROE, Is OSRAM Licht AG (ETR:OSR) A High Quality Stock?

By way of learning-by-doing, we'll look at ROE to gain a better understanding OSRAM Licht AG (ETR:OSR). … One way to conceptualize this, is that for each €1 of shareholders' equity it has, the company made €0.074 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

OSRAM Licht AG (ETR:OSR): What Are Investors Earning On Their Capital?

Therefore, looking at how efficiently OSRAM Licht is able to use capital to create earnings will help us understand your potential return. … Investors use many different metrics but the analysis below focuses on return on capital employed (ROCE). … OSRAM Licht's Return On Capital Employed

Simply Wall St -

How OSRAM Licht AG's (ETR:OSR) Earnings Growth Stacks Up Against The Industry

Assessing OSRAM Licht AG's (ETR:OSR) past track record of performance is an insightful exercise for investors. … Today I will assess OSR's recent performance announced on 30 June 2018 and evaluate these figures to its long-term trend and industry movements. … Commentary On OSR's Past Performance

Simply Wall St -

What You Must Know About OSRAM Licht AG's (ETR:OSR) Financial Health

Stocks with market capitalization between $2B and $10B, such as OSRAM Licht AG (ETR:OSR) with a size of €3.60b, do not attract as much attention from the investing community as do the small-caps and large-caps. … Don’t forget that this is a general and concentrated examination of OSRAM Licht's financial health, so you should conduct further analysis. … Check out our latest analysis for OSRAM Licht

Simply Wall St -

Is OSRAM Licht AG (ETR:OSR) A Great Dividend Stock?

A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … OSRAM Licht AG (ETR:OSR) has returned to shareholders over the past 4 years, an average dividend yield of 2.00% annually. … Check out our latest analysis for OSRAM Licht

Simply Wall St -

How Do Analysts See OSRAM Licht AG's (ETR:OSR) Margin Performing In The Years Ahead?

OSRAM Licht AG (ETR:OSR) to … earnings growth of 22.19% annualised … it's important to take a step back

Simply Wall St -

OSRAM Licht AG (ETR:OSR): Can It Deliver A Superior ROE To The Industry?

and want to better understand how you can grow your money by investing in OSRAM Licht AG (ETR:OSR). … With an ROE of 9.01%, OSRAM Licht AG (ETR:OSR) returned in-line to its own industry which delivered 10.02% over the past year. … But what is more interesting is whether OSR can sustain or improve on this level of return.

Simply Wall St -

When Should You Buy OSRAM Licht AG (ETR:OSR)?

received a lot of attention from a substantial price movement on the XTRA over the last few months, increasing to €63.38 at one point, and dropping to the lows of €46.54. … A question to answer is whether OSRAM Licht's current trading price of €46.54 reflective of the actual value of the? … Let’s take a look at OSRAM Licht’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

A Holistic Look At OSRAM Licht AG (XTRA:OSR)

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on OSRAM Licht AG (XTRA:OSR) due to its excellent fundamentals in more than one area.

Simply Wall St -

Does OSRAM Licht AG's (XTRA:OSR) June Stock Price Reflect Its Future Growth?

Growth expectations for OSRAM Licht AG (XTRA:OSR) are high, but many investors are starting to ask whether its last close at €51.7 can still be rationalized by the future potential. … Check out our latest analysis for OSRAM Licht? … OSRAM Licht's growth potential is very attractive

Simply Wall St -

OSR Company Info

Map
Description

OSRAM Licht AG provides various lighting products and solutions worldwide. The company operates through Specialty Lighting, Opto Semiconductors, and Lighting Solutions & Systems segments. The Specialty Lighting segment develops and produces lamps and lighting systems for the automotive sector, studio, stage and TV, and projection system applications, as well as special lamps for industrial and medical applications; produces lamps for disinfecting liquids, surfaces, and gases with UV light. The Opto Semiconductors segment manufactures optoelectronic semiconductors, such as light-emitting diode (LED), optical sensors, infrared LED, and high-power laser diodes for visible and infrared light. This segment’s products are used in automotive, communication products, and consumer goods industries. The Lighting Solutions & Systems segment develops, produces, and markets LED light engines, electronic ballasts for LED modules and traditional lamps, and light management systems. This segment also provides luminaires for professional applications, such as street lighting or architectural lighting, as well as for private applications, including table lamps and flashlights; and lighting solutions and associated light management systems that are used in internal and external architectural lighting, and in event lighting, as well as offers installation and maintenance services for its product portfolio. The company offers its products primarily under the OSRAM, SYLVANIA, SYLVANIA Lighting Solutions, Siteco, Traxon, Clay Paky, and LUX365 brand names. The company was formerly known as Kyros A AG and changed its name to OSRAM Licht AG in November 2012. OSRAM Licht AG was founded in 1906 and is headquartered in Munich, Germany.

Details
Name: OSRAM Licht AG
OSR
Exchange: XTRA
Founded: 1906
€3,318,079,773
96,399,761
Website: http://www.osram-licht.com
Address: OSRAM Licht AG
Marcel-Breuer-Strasse 6,
Munich,
Bavaria, 80807,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA OSR Ordinary Registered Shares XETRA Trading Platform DE EUR 08. Jul 2013
OTCPK OSAG.F Ordinary Registered Shares Pink Sheets LLC US USD 08. Jul 2013
DB OSR Ordinary Registered Shares Deutsche Boerse AG DE EUR 08. Jul 2013
LSE 0QFR Ordinary Registered Shares London Stock Exchange GB EUR 08. Jul 2013
SWX OSR Ordinary Registered Shares SIX Swiss Exchange CH CHF 08. Jul 2013
BIT OSR Ordinary Registered Shares Borsa Italiana IT EUR 08. Jul 2013
WBAG OSR Ordinary Registered Shares Wiener Boerse AG AT EUR 08. Jul 2013
BATS-CHIXE OSRD Ordinary Registered Shares BATS 'Chi-X Europe' GB EUR 08. Jul 2013
OTCPK OSAG.Y ADR Pink Sheets LLC US USD 11. Jun 2014
DB OSRA ADR Deutsche Boerse AG DE EUR 11. Jun 2014
Number of employees
Current staff
Staff numbers
27,400
OSRAM Licht employees.
Industry
Electrical Components and Equipment
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/11/11 18:41
End of day share price update: 2018/11/09 00:00
Last estimates confirmation: 2018/11/10
Last earnings filing: 2018/11/07
Last earnings reported: 2018/09/30
Last annual earnings reported: 2018/09/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.