Snowflake Score | |
---|---|
Valuation | 4/6 |
Future Growth | 3/6 |
Past Performance | 2/6 |
Financial Health | 6/6 |
Dividends | 1/6 |
VAR1 Stock Overview
Varta AG, through its subsidiaries, researches, develops, produces, and sells microbatteries, household batteries, and energy storage solutions worldwide.
Varta Competitors
Price History & Performance
Historical stock prices | |
---|---|
Current Share Price | €80.18 |
52 Week High | €165.90 |
52 Week Low | €67.88 |
Beta | 1.2 |
1 Month Change | -3.51% |
3 Month Change | 2.32% |
1 Year Change | -50.01% |
3 Year Change | 11.98% |
5 Year Change | n/a |
Change since IPO | 52.52% |
Recent News & Updates
At €79.80, Is It Time To Put Varta AG (ETR:VAR1) On Your Watch List?
While Varta AG ( ETR:VAR1 ) might not be the most widely known stock at the moment, it received a lot of attention from...
Shareholder Returns
VAR1 | DE Electrical | DE Market | |
---|---|---|---|
7D | 1.2% | 1.7% | 1.1% |
1Y | -50.0% | -29.7% | -20.0% |
Return vs Industry: VAR1 underperformed the German Electrical industry which returned -29.6% over the past year.
Return vs Market: VAR1 underperformed the German Market which returned -20% over the past year.
Price Volatility
VAR1 volatility | |
---|---|
VAR1 Average Weekly Movement | 6.2% |
Electrical Industry Average Movement | 6.3% |
Market Average Movement | 5.7% |
10% most volatile stocks in DE Market | 10.7% |
10% least volatile stocks in DE Market | 2.8% |
Stable Share Price: VAR1 is not significantly more volatile than the rest of German stocks over the past 3 months, typically moving +/- 6% a week.
Volatility Over Time: VAR1's weekly volatility (6%) has been stable over the past year.
About the Company
Founded | Employees | CEO | Website |
---|---|---|---|
1887 | 4,724 | Herbert Schein | https://www.varta-ag.com |
Varta AG, through its subsidiaries, researches, develops, produces, and sells microbatteries, household batteries, and energy storage solutions worldwide. It operates in two segments, Lithium-Ion Solutions & Microbatteries and Household Batteries. The Lithium-Ion Solutions & Microbatteries segment offers zinc-air batteries primarily for use in hearing aid devices; lithium-ion battery solutions for wireless headphones; wearables, which include medical devices to measure hypertension, blood sugar, and other bodily functions, as well as the power supply for COVID19 antibody tests; and rechargeable battery solutions for industrial and original equipment manufacturers for use in various applications, such as servers, car keys, alarm systems, or smart meters.
Varta Fundamentals Summary
VAR1 fundamental statistics | |
---|---|
Market Cap | €3.24b |
Earnings (TTM) | €107.66m |
Revenue (TTM) | €895.19m |
30.1x
P/E Ratio3.6x
P/S RatioIs VAR1 overvalued?
See Fair Value and valuation analysisEarnings & Revenue
VAR1 income statement (TTM) | |
---|---|
Revenue | €895.19m |
Cost of Revenue | €335.25m |
Gross Profit | €559.94m |
Other Expenses | €452.28m |
Earnings | €107.66m |
Last Reported Earnings
Mar 31, 2022
Next Earnings Date
Aug 11, 2022
Earnings per share (EPS) | 2.66 |
Gross Margin | 62.55% |
Net Profit Margin | 12.03% |
Debt/Equity Ratio | 0% |
How did VAR1 perform over the long term?
See historical performance and comparisonDividends
3.1%
Current Dividend Yield93%
Payout RatioValuation
Is VAR1 undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
4/6Valuation Score 4/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast
Key Valuation Metric
Which metric is best to use when looking at relative valuation for VAR1?
Other financial metrics that can be useful for relative valuation.
What is VAR1's n/a Ratio? | |
---|---|
n/a Ratio | 0x |
n/a | n/a |
Market Cap | €3.24b |
Key Statistics | |
---|---|
Enterprise Value/Revenue | 3.4x |
Enterprise Value/EBITDA | 12.6x |
PEG Ratio | 2.7x |
Price to Earnings Ratio vs Peers
How does VAR1's PE Ratio compare to its peers?
VAR1 PE Ratio vs Peers |
---|
Company | PE | Estimated Growth | Market Cap |
---|---|---|---|
Peer Average | 32x | ||
SGL SGL Carbon | 8.4x | 6.7% | €885.2m |
CY1K SBF | 17.2x | 17.9% | €81.5m |
EKT Energiekontor | 36.7x | 15.6% | €1.3b |
KU2 KUKA | 65.8x | n/a | €3.3b |
VAR1 Varta | 30.1x | 11.0% | €3.2b |
Price-To-Earnings vs Peers: VAR1 is good value based on its Price-To-Earnings Ratio (30.1x) compared to the peer average (32x).
Price to Earnings Ratio vs Industry
How does VAR1's PE Ratio compare vs other companies in the European Electrical Industry?
Price-To-Earnings vs Industry: VAR1 is good value based on its Price-To-Earnings Ratio (30.1x) compared to the German Electrical industry average (32.5x)
Price to Earnings Ratio vs Fair Ratio
What is VAR1's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
Fair Ratio | |
---|---|
Current PE Ratio | 30.1x |
Fair PE Ratio | 24.5x |
Price-To-Earnings vs Fair Ratio: VAR1 is expensive based on its Price-To-Earnings Ratio (30.1x) compared to the estimated Fair Price-To-Earnings Ratio (24.5x).
Share Price vs Fair Value
What is the Fair Price of VAR1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: VAR1 (€80.18) is trading below our estimate of fair value (€264.76)
Significantly Below Fair Value: VAR1 is trading below fair value by more than 20%.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Target price is less than 20% higher than the current share price.
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Future Growth
How is Varta forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
Future Growth Score
3/6Future Growth Score 3/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
11.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: VAR1's forecast earnings growth (11% per year) is above the savings rate (-0.01%).
Earnings vs Market: VAR1's earnings (11% per year) are forecast to grow faster than the German market (7.7% per year).
High Growth Earnings: VAR1's earnings are forecast to grow, but not significantly.
Revenue vs Market: VAR1's revenue (12.8% per year) is forecast to grow faster than the German market (4.7% per year).
High Growth Revenue: VAR1's revenue (12.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: VAR1's Return on Equity is forecast to be low in 3 years time (18.5%).
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Past Performance
How has Varta performed over the past 5 years?
Past Performance Score
2/6Past Performance Score 2/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
45.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: VAR1 has a high level of non-cash earnings.
Growing Profit Margin: VAR1's current net profit margins (12%) are higher than last year (10.8%).
Past Earnings Growth Analysis
Earnings Trend: VAR1's earnings have grown significantly by 45.4% per year over the past 5 years.
Accelerating Growth: VAR1's earnings growth over the past year (13.1%) is below its 5-year average (45.4% per year).
Earnings vs Industry: VAR1 earnings growth over the past year (13.1%) underperformed the Electrical industry 77.3%.
Return on Equity
High ROE: VAR1's Return on Equity (19.8%) is considered low.
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Financial Health
How is Varta's financial position?
Financial Health Score
6/6Financial Health Score 6/6
Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage
Financial Position Analysis
Short Term Liabilities: VAR1's short term assets (€640.4M) exceed its short term liabilities (€412.5M).
Long Term Liabilities: VAR1's short term assets (€640.4M) exceed its long term liabilities (€533.1M).
Debt to Equity History and Analysis
Debt Level: VAR1 is debt free.
Reducing Debt: VAR1 has no debt compared to 5 years ago when its debt to equity ratio was 0%.
Debt Coverage: VAR1 has no debt, therefore it does not need to be covered by operating cash flow.
Interest Coverage: VAR1 has no debt, therefore coverage of interest payments is not a concern.
Balance Sheet
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Dividend
What is Varta current dividend yield, its reliability and sustainability?
Dividend Score
1/6Dividend Score 1/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage
3.09%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: VAR1's dividend (3.09%) is higher than the bottom 25% of dividend payers in the German market (1.46%).
High Dividend: VAR1's dividend (3.09%) is low compared to the top 25% of dividend payers in the German market (4.4%).
Stability and Growth of Payments
Stable Dividend: Too early to tell whether VAR1's dividend payments have been stable as they only just started paying a dividend.
Growing Dividend: Too early to tell if VAR1's dividend payments are increasing as they only just started paying a dividend.
Earnings Payout to Shareholders
Earnings Coverage: With its high payout ratio (92.9%), VAR1's dividend payments are not well covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: VAR1 is paying a dividend but the company has no free cash flows.
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Management
How experienced are the management team and are they aligned to shareholders interests?
1.8yrs
Average management tenure
CEO
Herbert Schein (57 yo)
6.08yrs
Tenure
Mr. Herbert Schein has been the Chairman of the Management Board and Chief Executive Officer at Varta Microbattery GmbH since November 2008 and serves as a Member of Executive Board. Mr. Schein has been Ma...
Leadership Team
Experienced Management: VAR1's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.
Board Members
Experienced Board: VAR1's board of directors are considered experienced (4.6 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
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.
Top Shareholders
Company Information
Varta AG's employee growth, exchange listings and data sources
Key Information
- Name: Varta AG
- Ticker: VAR1
- Exchange: XTRA
- Founded: 1887
- Industry: Electrical Components and Equipment
- Sector: Capital Goods
- Implied Market Cap: €3.241b
- Shares outstanding: 40.42m
- Website: https://www.varta-ag.com
Number of Employees
Location
- Varta AG
- VARTA-Platz 1
- Ellwangen
- Baden-Württemberg
- 73479
- Germany
Listings
Company Analysis and Financial Data Status
Data | Last Updated (UTC time) |
---|---|
Company Analysis | 2022/08/07 00:00 |
End of Day Share Price | 2022/08/05 00:00 |
Earnings | 2022/03/31 |
Annual Earnings | 2021/12/31 |
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.