DB:HDD

Stock Analysis Report

Heidelberger Druckmaschinen

Executive Summary

Heidelberger Druckmaschinen Aktiengesellschaft provides products, services, consumables, and software solutions for the printing industry in Europe, the Middle East, Africa, Asia/Pacific, North America, South America, and Eastern Europe.

Snowflake

Fundamentals

Very undervalued with moderate growth potential.

Risks

  • Heidelberger Druckmaschinen has significant price volatility in the past 3 months.

Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

10.6%

DB:HDD

1.8%

DE Machinery

0.8%

DE Market


1 Year Return

-58.3%

DB:HDD

-34.6%

DE Machinery

-10.9%

DE Market

HDD underperformed the Machinery industry which returned -34.7% over the past year.

HDD underperformed the Market in Germany which returned -10.9% over the past year.


Share holder returns

HDDIndustryMarket
7 Day10.6%1.8%0.8%
30 Day2.4%-6.9%-5.0%
90 Day-24.9%-14.2%-2.9%
1 Year-58.3%-58.3%-32.5%-34.6%-8.1%-10.9%
3 Year-54.9%-54.9%-22.0%-27.6%10.4%0.9%
5 Year-58.5%-58.5%5.1%-6.8%25.5%8.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Heidelberger Druckmaschinen's share price is below the future cash flow value, and at a moderate discount (> 20%).

Heidelberger Druckmaschinen's share price is below the future cash flow value, and at a substantial discount (> 40%).


Price Based on Earnings

Heidelberger Druckmaschinen is good value based on earnings compared to the DE Machinery industry average.

Heidelberger Druckmaschinen is good value based on earnings compared to the Germany market.


Price Based on Expected Growth

Heidelberger Druckmaschinen is good value based on expected growth next year.


Price Based on Value of Assets

Heidelberger Druckmaschinen is good value based on assets compared to the DE Machinery industry average.


Next Steps

Future Growth

How is Heidelberger Druckmaschinen expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

91.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Heidelberger Druckmaschinen's revenue is expected to grow by 1.9% yearly, however this is not considered high growth (20% yearly).

Heidelberger Druckmaschinen's earnings are expected to grow significantly at over 20% yearly.

Heidelberger Druckmaschinen's revenue growth is positive but not above the Germany market average.

Heidelberger Druckmaschinen's earnings growth is expected to exceed the Germany market average.

Heidelberger Druckmaschinen's earnings growth is expected to exceed the low risk savings rate of 0.2%.


Earnings per Share Growth Estimates


Future Return on Equity

Heidelberger Druckmaschinen is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Heidelberger Druckmaschinen performed over the past 5 years?

40.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Heidelberger Druckmaschinen has delivered over 20% year on year earnings growth in the past 5 years.

Heidelberger Druckmaschinen's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Heidelberger Druckmaschinen's 1-year earnings growth is negative, it can't be compared to the DE Machinery industry average.


Return on Equity

Heidelberger Druckmaschinen has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Heidelberger Druckmaschinen used its assets less efficiently than the DE Machinery industry average last year based on Return on Assets.


Return on Capital Employed

Heidelberger Druckmaschinen has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Heidelberger Druckmaschinen's financial position?


Financial Position Analysis

Heidelberger Druckmaschinen is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Heidelberger Druckmaschinen's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Heidelberger Druckmaschinen's level of debt (182.4%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (164% vs 182.4% today).

Operating cash flow is negative therefore debt is not well covered.

Interest payments on debt are not well covered by earnings (EBIT is 2.2x annual interest expense, ideally 3x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 2.5x debt.


Next Steps

Dividend

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

1.55%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Unable to evaluate Heidelberger Druckmaschinen's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate Heidelberger Druckmaschinen's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as Heidelberger Druckmaschinen has not reported any payouts.

Unable to verify if Heidelberger Druckmaschinen's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as Heidelberger Druckmaschinen has not reported any payouts.


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (6.3x coverage).


Next Steps

Management

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

4.1yrs

Average management tenure


CEO

Rainer Hundsdörfer (62yo)

2.8yrs

Tenure

€1,970,000

Compensation

Mr. Rainer Hundsdörfer has been the Chief Executive Officer and Chairman of The Board of Management at Heidelberger Druckmaschinen AG since November 14, 2016 and has been its Chief Human Resources Officer  ...


CEO Compensation Analysis

Rainer's remuneration is higher than average for companies of similar size in Germany.

Rainer's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

4.1yrs

Average Tenure

54yo

Average Age

The tenure for the Heidelberger Druckmaschinen management team is about average.


Board Age and Tenure

2.8yrs

Average Tenure

53yo

Average Age

The average tenure for the Heidelberger Druckmaschinen board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Rainer Hundsdörfer (62yo)

    Chairman of Management Board

    • Tenure: 2.8yrs
    • Compensation: €1.97m
  • Detlev Dierkes (62yo)

    Head of Print Media Relations

    • Tenure: 0.0yrs
  • Dirk Kaliebe (53yo)

    Deputy Chairman of Management Board

    • Tenure: 4.1yrs
    • Compensation: €1.22m
  • Stephan Plenz (54yo)

    CTO of Digital Technology & Member of Management Board

    • Tenure: 11.1yrs
    • Compensation: €1.22m
  • Ulrich Hermann (53yo)

    Chief Digital Officer of Lifecycle Solutions & Member of Management Board

    • Tenure: 2.8yrs
    • Compensation: €1.23m
  • Robin Karpp

    Head of Investor Relations & Group Communications

    • Tenure: 8.6yrs
  • Michael Finke

    Head of Advertising & Sales Media -Audi Ag

    • Tenure: 0.0yrs
  • Frank Kropp

    Head of Research & Development

    • Tenure: 0.0yrs
  • André Schuengel

    Head of Application Development

    • Tenure: 0.0yrs

Board Members

  • Siegfried Jaschinski (64yo)

    Chairman of Supervisory Board

    • Tenure: 4.2yrs
    • Compensation: €142.50k
  • Mirko Geiger

    Employee Representative Member of the Supervisory Board

    • Tenure: 14.0yrs
    • Compensation: €53.50k
  • Beate Schmitt (53yo)

    Employee Representative Member of the Supervisory Board

    • Tenure: 13.3yrs
    • Compensation: €49.50k
  • Kirsten Lange (52yo)

    Member of Supervisory Board

    • Tenure: 4.5yrs
    • Compensation: €53.50k
  • Oliver Jung (57yo)

    Member of Supervisory Board

    • Tenure: 2.3yrs
    • Compensation: €47.50k
  • Karen Heumann (53yo)

    Member of Supervisory Board

    • Tenure: 3.4yrs
    • Compensation: €47.50k
  • Ralph Arns

    Deputy Chairman of the Supervisory Board

    • Tenure: 1.1yrs
    • Compensation: €80.50k
  • Petra Otte (46yo)

    Employee Representative Member of Supervisory Board

    • Tenure: 1.1yrs
    • Compensation: €32.00k
  • Joachim Dencker

    Employee Representative Member of Supervisory Board

    • Tenure: 1.1yrs
    • Compensation: €32.50k
  • Gerald Dörr

    Employee Representative Member of Supervisory Board

    • Tenure: 1.1yrs
    • Compensation: €35.50k

Company Information

Heidelberger Druckmaschinen Aktiengesellschaft's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Heidelberger Druckmaschinen Aktiengesellschaft
  • Ticker: HDD
  • Exchange: DB
  • Founded: 1850
  • Industry: Industrial Machinery
  • Sector: Capital Goods
  • Market Cap: €302.054m
  • Shares outstanding: 304.34m
  • Website: https://www.heidelberg.com

Number of Employees


Location

  • Heidelberger Druckmaschinen Aktiengesellschaft
  • Kurfürsten-Anlage 52-60
  • Heidelberg
  • Baden-Württemberg
  • 69115
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HBGR.FOTCPK (Pink Sheets LLC)YesBearer SharesUSUSDDec 1997
HDDDB (Deutsche Boerse AG)YesBearer SharesDEEURDec 1997
HDDXTRA (XETRA Trading Platform)YesBearer SharesDEEURDec 1997
0OC2LSE (London Stock Exchange)YesBearer SharesGBEURDec 1997
HDDDBATS-CHIXE (BATS 'Chi-X Europe')YesBearer SharesGBEURDec 1997
HDDSWX (SIX Swiss Exchange)YesBearer SharesCHCHFDec 1997
HDDWBAG (Wiener Boerse AG)YesBearer SharesATEURDec 1997
HBGR.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDOct 2008

Biography

Heidelberger Druckmaschinen Aktiengesellschaft provides products, services, consumables, and software solutions for the printing industry in Europe, the Middle East, Africa, Asia/Pacific, North America, So ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/24 20:32
End of Day Share Price2019/08/23 00:00
Earnings2019/06/30
Annual Earnings2019/03/31


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.