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Manitou BF

DB:3MU
Snowflake Description

Undervalued with solid track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3MU
DB
€962M
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

Manitou BF SA operates as a rough-terrain material handling company that engages in the design, production, distribution, and servicing of equipment for the construction, agriculture, and industry sectors worldwide. The last earnings update was 15 days ago. More info.


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  • Manitou BF has significant price volatility in the past 3 months.
3MU Share Price and Events
7 Day Returns
-3.8%
DB:3MU
-1.1%
DE Machinery
0.7%
DE Market
1 Year Returns
-21.1%
DB:3MU
-24.7%
DE Machinery
-8.7%
DE Market
3MU Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Manitou BF (3MU) -3.8% -3.4% 38.8% -21.1% 70.4% 108.4%
DE Machinery -1.1% -4.7% 4.4% -24.7% -10.3% 9.1%
DE Market 0.7% 2.2% 8.8% -8.7% 7.6% 9.7%
1 Year Return vs Industry and Market
  • 3MU outperformed the Machinery industry which returned -24.7% over the past year.
  • 3MU underperformed the Market in Germany which returned -8.7% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Manitou BF 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 Manitou BF 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 Manitou BF.

DB:3MU Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.7%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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 DB:3MU
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Machinery Unlevered Beta Simply Wall St/ S&P Global 1.06
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.058 (1 + (1- 33%) (18.72%))
1.128
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.128 * 6.65%)
7.73%

Discounted Cash Flow Calculation for DB:3MU using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Manitou BF is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:3MU DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 7.73%)
2019 67.86 Analyst x4 63.00
2020 63.85 Analyst x8 55.02
2021 70.65 Analyst x5 56.51
2022 140.00 Analyst x1 103.96
2023 165.64 Est @ 18.31% 114.17
2024 186.99 Est @ 12.89% 119.64
2025 203.98 Est @ 9.09% 121.16
2026 217.10 Est @ 6.43% 119.70
2027 227.02 Est @ 4.57% 116.20
2028 234.44 Est @ 3.27% 111.39
Present value of next 10 years cash flows €980.75
DB:3MU DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €234.44 × (1 + 0.23%) ÷ (7.73% – 0.23%)
€3,133.90
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €3,133.90 ÷ (1 + 7.73%)10
€1,488.96
DB:3MU Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €980.75 + €1,488.96
€2,469.71
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €2,469.71 / 38.27
€64.54
DB:3MU Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:3MU represents 1.01988x of ENXTPA:MTU
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.01988x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 64.54 x 1.01988
€65.82
Value per share (EUR) From above. €65.82
Current discount Discount to share price of €25.65
= -1 x (€25.65 - €65.82) / €65.82
61%

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

Current Discount
Amount off the current price Manitou BF is available for.
Intrinsic value
>50%
Share price is €25.65 vs Future cash flow value of €65.82
Current Discount Checks
For Manitou BF to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Manitou BF's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Manitou BF's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Manitou BF's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Manitou BF's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:3MU PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €2.20
ENXTPA:MTU Share Price ** ENXTPA (2019-03-21) in EUR €25.15
Germany Machinery Industry PE Ratio Median Figure of 38 Publicly-Listed Machinery Companies 15.71x
Germany Market PE Ratio Median Figure of 423 Publicly-Listed Companies 18.55x

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

** Primary Listing of Manitou BF.

DB:3MU PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:MTU Share Price ÷ EPS (both in EUR)

= 25.15 ÷ 2.20

11.43x

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

  • Manitou BF is good value based on earnings compared to the DE Machinery industry average.
  • Manitou BF is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Manitou BF's expected growth come at a high price?
Raw Data
DB:3MU PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.43x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
8.9%per year
Germany Machinery Industry PEG Ratio Median Figure of 29 Publicly-Listed Machinery Companies 1.65x
Germany Market PEG Ratio Median Figure of 275 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

DB:3MU PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.43x ÷ 8.9%

1.29x

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

  • Manitou BF is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Manitou BF's assets?
Raw Data
DB:3MU PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €15.57
ENXTPA:MTU Share Price * ENXTPA (2019-03-21) in EUR €25.15
Germany Machinery Industry PB Ratio Median Figure of 45 Publicly-Listed Machinery Companies 1.73x
Germany Market PB Ratio Median Figure of 571 Publicly-Listed Companies 1.79x
DB:3MU PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:MTU Share Price ÷ Book Value per Share (both in EUR)

= 25.15 ÷ 15.57

1.62x

* Primary Listing of Manitou BF.

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

  • Manitou BF is good value based on assets compared to the DE Machinery industry average.
X
Value checks
We assess Manitou BF'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 Machinery 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 Machinery industry average (and greater than 0)? (1 check)
  5. Manitou BF has a total score of 5/6, 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.

Future Performance

 How is Manitou BF expected to perform in the next 1 to 3 years based on estimates from 9 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
8.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Manitou BF expected to grow at an attractive rate?
  • Manitou BF's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Manitou BF's earnings growth is positive but not above the Germany market average.
  • Manitou BF's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:3MU Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:3MU Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 8.9%
DB:3MU Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 4.5%
Germany Machinery Industry Earnings Growth Rate Market Cap Weighted Average 10.5%
Germany Machinery Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.4%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.7%

*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
DB:3MU Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:3MU Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 2,294 1
2022-12-31 2,233 196 118 1
2021-12-31 2,249 136 114 5
2020-12-31 2,143 135 106 8
2019-12-31 2,064 132 101 9
DB:3MU Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 1,884 -5 84
2018-09-30 1,806 34 78
2018-06-30 1,727 74 71
2018-03-31 1,659 54 66
2017-12-31 1,591 35 60
2017-09-30 1,519 51 55
2017-06-30 1,447 68 50
2017-03-31 1,389 70 46
2016-12-31 1,332 71 43
2016-09-30 1,313 69 41
2016-06-30 1,295 66 38
2016-03-31 1,291 71 35

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Manitou BF's earnings are expected to grow by 8.9% yearly, however this is not considered high growth (20% yearly).
  • Manitou BF's revenue is expected to grow by 4.5% 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
DB:3MU Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from Manitou BF Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:3MU Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 3.07 3.07 3.07 1.00
2021-12-31 2.95 3.06 2.80 5.00
2020-12-31 2.74 2.84 2.64 8.00
2019-12-31 2.60 2.72 2.49 8.00
DB:3MU Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 2.20
2018-09-30 2.02
2018-06-30 1.84
2018-03-31 1.70
2017-12-31 1.57
2017-09-30 1.44
2017-06-30 1.32
2017-03-31 1.21
2016-12-31 1.11
2016-09-30 1.04
2016-06-30 0.97
2016-03-31 0.89

*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.
  • Manitou BF is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Manitou BF'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.
Manitou BF has a total score of 1/6, 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.

Past Performance

  How has Manitou BF 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 Manitou BF's growth in the last year to its industry (Machinery).
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.
  • Manitou BF has delivered over 20% year on year earnings growth in the past 5 years.
  • Manitou BF's 1-year earnings growth exceeds its 5-year average (40% vs 33.4%)
  • Manitou BF's earnings growth has exceeded the DE Machinery industry average in the past year (40% vs 0.7%).
Earnings and Revenue History
Manitou BF'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 Manitou BF Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:3MU Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,883.58 84.11 161.27 23.91
2018-09-30 1,805.52 77.71 157.35 23.10
2018-06-30 1,727.46 71.06 153.44 22.30
2018-03-31 1,659.21 65.56 148.92 21.55
2017-12-31 1,590.97 60.07 144.40 20.80
2017-09-30 1,519.08 54.83 139.79 19.47
2017-06-30 1,447.19 49.84 135.19 18.14
2017-03-31 1,389.36 46.38 131.79 18.24
2016-12-31 1,331.53 42.91 128.39 18.34
2016-09-30 1,313.40 40.51 125.50 18.75
2016-06-30 1,295.26 38.10 122.61 19.17
2016-03-31 1,291.21 35.20 122.13 19.88
2015-12-31 1,287.16 32.30 121.65 20.60
2015-09-30 1,286.47 33.11 119.71 21.47
2015-06-30 1,285.79 33.92 117.77 22.34
2015-03-31 1,266.12 32.16 115.09 22.53
2014-12-31 1,246.46 30.39 112.41 22.72
2014-09-30 1,236.76 21.73 111.19 23.48
2014-06-30 1,227.06 13.07 109.97 24.25
2014-03-31 1,201.74 6.87 111.85 24.19
2013-12-31 1,176.41 0.67 113.74 24.14
2013-09-30 1,180.06 13.26 114.14 23.42
2013-06-30 1,183.71 25.85 114.55 22.71
2013-03-31 1,224.24 35.61 114.41 22.13
2012-12-31 1,264.77 45.37 114.26 21.55
2012-09-30 1,253.32 43.66 113.76 20.19
2012-06-30 1,241.86 41.95 113.26 18.84
2012-03-31 1,186.50 39.18 108.71 17.72

*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.
  • Manitou BF has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Manitou BF used its assets more efficiently than the DE Machinery industry average last year based on Return on Assets.
  • Manitou BF has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Manitou BF'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 Machinery 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.
Manitou BF has a total score of 5/6, 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.

Health

 How is Manitou BF'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 Manitou BF's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Manitou BF is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Manitou BF's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Manitou BF'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 5.7x 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 Manitou BF Company Filings, last reported 2 months ago.

DB:3MU Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 596.97 180.14 32.04
2018-09-30 596.97 180.14 32.04
2018-06-30 551.62 107.17 27.37
2018-03-31 551.62 107.17 27.37
2017-12-31 533.10 118.30 40.36
2017-09-30 533.10 118.30 40.36
2017-06-30 511.52 114.47 18.74
2017-03-31 511.52 114.47 18.74
2016-12-31 511.96 116.11 54.29
2016-09-30 511.96 116.11 54.29
2016-06-30 494.45 109.41 17.05
2016-03-31 494.45 109.41 17.05
2015-12-31 494.97 124.67 57.96
2015-09-30 494.97 124.67 57.96
2015-06-30 474.90 140.31 15.24
2015-03-31 474.90 140.31 15.24
2014-12-31 456.35 121.30 23.71
2014-09-30 456.35 121.30 23.71
2014-06-30 427.22 116.65 27.12
2014-03-31 427.22 116.65 27.12
2013-12-31 413.22 120.59 35.22
2013-09-30 413.22 120.59 35.22
2013-06-30 420.55 104.07 47.51
2013-03-31 420.55 104.07 47.51
2012-12-31 435.42 128.45 22.58
2012-09-30 435.42 128.45 22.58
2012-06-30 416.87 177.87 30.59
2012-03-31 416.87 177.87 30.59
  • Manitou BF's level of debt (30.2%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (29.2% vs 30.2% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 21.6x coverage).
X
Financial health checks
We assess Manitou BF'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. Manitou BF has a total score of 4/6, 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.

Dividends

 What is Manitou BF'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
3.1%
Current annual income from Manitou BF dividends. Estimated to be 3.86% next year.
If you bought €2,000 of Manitou BF shares you are expected to receive €62 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?
  • Manitou BF's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.5%).
  • Manitou BF's dividend is below the markets top 25% of dividend payers in Germany (3.84%).
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
DB:3MU 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 9 Analyst Estimates (S&P Global) See Below
Germany Machinery Industry Average Dividend Yield Market Cap Weighted Average of 31 Stocks 2.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 331 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
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.

DB:3MU Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.06 4.00
2020-12-31 0.98 6.00
2019-12-31 0.91 6.00
DB:3MU Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-06 0.780 2.923
2018-04-04 0.620 2.170
2018-03-06 0.620 1.881
2017-04-18 0.430 1.410
2017-03-01 0.430 1.819
2016-06-09 0.360 2.167
2015-06-10 0.350 2.291
2014-08-27 0.000 0.000
2014-04-30 0.000 0.000
2014-03-11 0.000 0.000
2013-06-28 0.450 3.669
2012-03-29 0.300 2.366
2009-09-16 0.000 0.000
2009-07-08 0.000 0.000
2009-04-30 0.000 0.000
2009-03-23 1.050 16.865

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Manitou BF's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.8x coverage).
X
Income/ dividend checks
We assess Manitou BF's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Manitou BF afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Manitou BF has a total score of 4/6, see the detailed checks below.


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

Management

 What is the CEO of Manitou BF'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
Michel Denis
COMPENSATION €846,925
TENURE AS CEO 5.2 years
CEO Bio

Mr. Michel Denis has been the Chief Executive Officer and President of Manitou BF SA since January 13, 2014. Mr. Denis served as Development Director of Johnson Controls MC International S.A. Mr. Denis began his career as a strategy consultant. He joined Dalkia in 1994 to develop cogeneration. He managed the French businesses of MC International (now Johnson Controls). In 2003, he joined the Fraikin Group and served as its Chief Executive Officer until August of 2013. For 10 years, he accompanied the strong international development of the Fraikin group which imposed its approach to the design of industrial vehicles, the associated services and the European financing of its fleet of 60,000 vehicles as a model. He is a graduate of ESSEC and Ecole Centrale de Lyon.

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

Average tenure of the Manitou BF management team in years:

3.7
Average Tenure
  • The tenure for the Manitou BF management team is about average.
Management Team

Michel Denis

TITLE
President & CEO
COMPENSATION
€847K
TENURE
5.2 yrs

Marcel Braud

TITLE
Founder & Honorary Chairman
COMPENSATION
€96K
AGE
86

Hervé Rochet

TITLE
CFO & Corporate Secretary
TENURE
14.2 yrs

Laurent Bonnaure

TITLE
Executive Vice President of Sales & Marketing
TENURE
2.3 yrs

Guillaume Rabel-Suquet

TITLE
Executive Vice President of Human Resources

Fernand Mira

TITLE
President of Material Handling & Access Division

Maxime Deroch

TITLE
President of Service & Solutions Division

Richard Alton

TITLE
President of Compact Equipment Products Division
TENURE
1.9 yrs
Board of Directors Tenure

Average tenure and age of the Manitou BF board of directors in years:

5.3
Average Tenure
61
Average Age
  • The tenure for the Manitou BF board of directors is about average.
Board of Directors

Jacqueline Himsworth

TITLE
Chairman of the Board
COMPENSATION
€163K
AGE
75
TENURE
1.8 yrs

Marcel Braud

TITLE
Founder & Honorary Chairman
COMPENSATION
€96K
AGE
86
TENURE
1.8 yrs

Dominique Bamas

TITLE
Independent Director
COMPENSATION
€30K
AGE
59
TENURE
4.9 yrs

Pierre-Henri Ricaud

TITLE
Independent Director
COMPENSATION
€30K
AGE
63
TENURE
9.3 yrs

Carole Lajous

TITLE
Independent Director
COMPENSATION
€12K
AGE
54
TENURE
1.8 yrs

Gordon Himsworth

TITLE
Director
COMPENSATION
€30K
AGE
80
TENURE
21.2 yrs

Sébastien Braud

TITLE
Director
COMPENSATION
€30K
AGE
49
TENURE
9.8 yrs

Christopher Himsworth

TITLE
Director
COMPENSATION
€30K
AGE
47
TENURE
9.3 yrs

Marcel-Claude Braud

TITLE
Director
COMPENSATION
€30K
AGE
66
TENURE
5.8 yrs

Emilie Fischel

TITLE
Director
COMPENSATION
€12K
AGE
37
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Manitou BF'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. Manitou BF 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.

News

Simply Wall St News

Company Info

Description

Manitou BF SA operates as a rough-terrain material handling company that engages in the design, production, distribution, and servicing of equipment for the construction, agriculture, and industry sectors worldwide. It operates through three divisions: Material Handling and Access (MHA); Compact Equipment Products (CEP); and Services & Solutions (S&S). The MHA division designs, assembles, and distributes fixed, rotating, truck-mounted, and heavy-load telehandlers; rough terrain, semi-industrial, industrial, and truck mounted masted forklift trucks; and aerial work platforms and warehousing equipment. This division offers its products under the Manitou brand name for use in the environmental and mining sectors; and for institutional customers, such as the armed forces, as well as organizations, such as the UN, civil protection bodies, etc. The CEP division develops and produces compact handling equipment, including skidsteer loaders, track and articulated loaders, backhoe loaders, and telehandlers, as well as compact excavators under the Gehl and Mustang brands. The S&S division provides financing, warranty contracts, maintenance and full service contracts, fleet management contracts, etc.; and technical training, warranty contract management, used equipment sales, etc., as well as end-user services consisting of geo-localization, user training, advice, etc. This division also distributes spare parts and attachments. The company also offers its products under the Edge and Loc brands through a network of dealers. Manitou BF SA was founded in 1953 and is headquartered in Ancenis, France.

Details
Name: Manitou BF SA
3MU
Exchange: DB
Founded: 1953
€962,437,458
38,267,891
Website: http://www.manitou.com
Address: Manitou BF SA
430 rue de l’Aubinière,
BP 10249,
Ancenis,
Pays de la Loire, 44158,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA MTU Common Shares Euronext Paris FR EUR 23. Jul 1986
DB 3MU Common Shares Deutsche Boerse AG DE EUR 23. Jul 1986
LSE 0NDA Common Shares London Stock Exchange GB EUR 23. Jul 1986
BATS-CHIXE MTUP Common Shares BATS 'Chi-X Europe' GB EUR 23. Jul 1986
Number of employees
Current staff
Staff numbers
4,400
Manitou BF employees.
Industry
Construction Machinery and Heavy Trucks
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/21 21:34
End of day share price update: 2019/03/21 00:00
Last estimates confirmation: 2019/03/08
Last earnings filing: 2019/03/06
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.