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Sulzer

DB:SUL1
Snowflake Description

Moderate growth potential with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SUL1
DB
CHF3B
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

Sulzer Ltd provides products and services for the oil and gas, power, water, and other markets in Switzerland and internationally. The last earnings update was 128 days ago. More info.


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SUL1 Share Price and Events
7 Day Returns
6.1%
DB:SUL1
-0.7%
DE Machinery
1.6%
DE Market
1 Year Returns
-10%
DB:SUL1
-23.4%
DE Machinery
-7.4%
DE Market
SUL1 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sulzer (SUL1) 6.1% 4.9% 11.3% -10% 18.1% -10.1%
DE Machinery -0.7% 0.7% 1.1% -23.4% -11.2% 2.3%
DE Market 1.6% 1.9% 2.6% -7.4% 14.7% 9.4%
1 Year Return vs Industry and Market
  • SUL1 outperformed the Machinery industry which returned -23.4% over the past year.
  • SUL1 underperformed the Market in Germany which returned -7.4% over the past year.
Price Volatility
SUL1
Industry
5yr Volatility vs Market

SUL1 Value

 Is Sulzer 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 Sulzer 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 Sulzer.

DB:SUL1 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.8%
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:SUL1
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Machinery Unlevered Beta Simply Wall St/ S&P Global 1.07
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.068 (1 + (1- 18%) (38.32%))
1.27
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.27
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.27 * 5.96%)
7.8%

Discounted Cash Flow Calculation for DB:SUL1 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Sulzer 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:SUL1 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CHF, Millions) Source Present Value
Discounted (@ 7.8%)
2019 203.33 Analyst x3 188.62
2020 245.00 Analyst x3 210.83
2021 274.67 Analyst x3 219.26
2022 301.00 Analyst x1 222.90
2023 299.00 Analyst x1 205.40
2024 297.81 Est @ -0.4% 189.78
2025 297.18 Est @ -0.21% 175.67
2026 296.95 Est @ -0.08% 162.84
2027 296.99 Est @ 0.01% 151.07
2028 297.22 Est @ 0.08% 140.25
Present value of next 10 years cash flows CHF1,866.61
DB:SUL1 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CHF297.22 × (1 + 0.23%) ÷ (7.8% – 0.23%)
CHF3,934.48
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CHF3,934.48 ÷ (1 + 7.8%)10
CHF1,856.63
DB:SUL1 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CHF1,866.61 + CHF1,856.63
CHF3,723.25
Equity Value per Share
(CHF)
= Total value / Shares Outstanding
= CHF3,723.25 / 33.95
CHF109.67
DB:SUL1 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:SUL1 represents 0.90058x of SWX:SUN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.90058x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (CHF) x Listing Adjustment Factor
= CHF 109.67 x 0.90058
€98.76
Value per share (EUR) From above. €98.76
Current discount Discount to share price of €92.40
= -1 x (€92.40 - €98.76) / €98.76
6.4%

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

Current Discount
Amount off the current price Sulzer is available for.
Intrinsic value
6%
Share price is €92.4 vs Future cash flow value of €98.76
Current Discount Checks
For Sulzer to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Sulzer's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Sulzer's share price is below the future cash flow value, but not 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 Sulzer's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sulzer's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:SUL1 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CHF CHF3.56
SWX:SUN Share Price ** SWX (2019-06-21) in CHF CHF102.6
Germany Machinery Industry PE Ratio Median Figure of 37 Publicly-Listed Machinery Companies 16.3x
Germany Market PE Ratio Median Figure of 425 Publicly-Listed Companies 19.87x

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

** Primary Listing of Sulzer.

DB:SUL1 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SWX:SUN Share Price ÷ EPS (both in CHF)

= 102.6 ÷ 3.56

28.82x

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

  • Sulzer is overvalued based on earnings compared to the DE Machinery industry average.
  • Sulzer is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Sulzer's expected growth come at a high price?
Raw Data
DB:SUL1 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 28.82x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
22.5%per year
Germany Machinery Industry PEG Ratio Median Figure of 29 Publicly-Listed Machinery Companies 1.47x
Germany Market PEG Ratio Median Figure of 271 Publicly-Listed Companies 1.46x

*Line of best fit is calculated by linear regression .

DB:SUL1 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 28.82x ÷ 22.5%

1.28x

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

  • Sulzer is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Sulzer's assets?
Raw Data
DB:SUL1 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CHF CHF48.01
SWX:SUN Share Price * SWX (2019-06-21) in CHF CHF102.6
Germany Machinery Industry PB Ratio Median Figure of 46 Publicly-Listed Machinery Companies 1.72x
Germany Market PB Ratio Median Figure of 575 Publicly-Listed Companies 1.8x
DB:SUL1 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SWX:SUN Share Price ÷ Book Value per Share (both in CHF)

= 102.6 ÷ 48.01

2.14x

* Primary Listing of Sulzer.

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

  • Sulzer is overvalued based on assets compared to the DE Machinery industry average.
X
Value checks
We assess Sulzer'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. Sulzer has a total score of 0/6, 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.

SUL1 Future Performance

 How is Sulzer expected to perform in the next 1 to 3 years based on estimates from 8 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
22.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sulzer expected to grow at an attractive rate?
  • Sulzer's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Sulzer's earnings growth is expected to exceed the Germany market average.
  • Sulzer's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:SUL1 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:SUL1 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 22.5%
DB:SUL1 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 4.2%
Germany Machinery Industry Earnings Growth Rate Market Cap Weighted Average 11.2%
Germany Machinery Industry Revenue Growth Rate Market Cap Weighted Average 5.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*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:SUL1 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:SUL1 Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 3,787 1
2022-12-31 4,208 1
2021-12-31 3,908 374 248 8
2020-12-31 3,780 341 230 8
2019-12-31 3,590 302 197 8
DB:SUL1 Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2018-12-31 3,365 261 114
2018-09-30 3,295 219 112
2018-06-30 3,225 177 111
2018-03-31 3,137 180 97
2017-12-31 3,049 184 83
2017-09-30 2,987 210 64
2017-06-30 2,924 236 46
2017-03-31 2,901 250 52
2016-12-31 2,877 263 59
2016-09-30 2,918 229 78
2016-06-30 2,959 195 98
2016-03-31 2,965 209 86

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Sulzer's earnings are expected to grow significantly at over 20% yearly.
  • Sulzer's revenue is expected to grow by 4.2% 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:SUL1 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Sulzer Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:SUL1 Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 7.26 8.34 6.34 7.00
2020-12-31 6.71 7.52 5.82 7.00
2019-12-31 5.76 6.25 5.05 7.00
DB:SUL1 Past Financials Data
Date (Data in CHF Millions) EPS *
2018-12-31 3.56
2018-09-30 3.45
2018-06-30 3.35
2018-03-31 2.89
2017-12-31 2.44
2017-09-30 1.89
2017-06-30 1.33
2017-03-31 1.53
2016-12-31 1.73
2016-09-30 2.29
2016-06-30 2.86
2016-03-31 2.52

*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.
  • Sulzer is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Sulzer'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.
Sulzer 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.

SUL1 Past Performance

  How has Sulzer 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 Sulzer'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.
  • Sulzer's year on year earnings growth rate has been positive over the past 5 years.
  • Sulzer's 1-year earnings growth exceeds its 5-year average (36.7% vs 15.3%)
  • Sulzer's earnings growth has exceeded the DE Machinery industry average in the past year (36.7% vs -5.8%).
Earnings and Revenue History
Sulzer'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 Sulzer Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:SUL1 Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 3,364.90 113.70 743.70 86.40
2018-09-30 3,294.80 112.15 737.35 85.40
2018-06-30 3,224.70 110.60 731.00 84.40
2018-03-31 3,136.85 96.90 718.95 82.70
2017-12-31 3,049.00 83.20 706.90 81.00
2017-09-30 2,986.65 64.35 684.00 78.95
2017-06-30 2,924.30 45.50 661.10 76.90
2017-03-31 2,900.50 52.25 650.85 74.15
2016-12-31 2,876.70 59.00 640.60 71.40
2016-09-30 2,917.70 78.25 650.20 71.65
2016-06-30 2,958.70 97.50 659.80 71.90
2016-03-31 2,964.85 85.70 659.35 72.65
2015-12-31 2,971.00 73.90 658.90 73.40
2015-09-30 3,042.30 -61.65 661.95 73.05
2015-06-30 3,113.60 -197.20 665.00 72.70
2015-03-31 3,162.85 -178.95 667.35 74.45
2014-12-31 3,212.10 -160.70 669.70 76.20
2014-09-30 3,208.05 2.20 667.80 75.05
2014-06-30 3,204.00 165.10 665.90 73.90
2014-03-31 3,233.95 169.80 674.55 72.25
2013-12-31 3,263.90 174.50 683.20 70.60
2013-06-30 2,969.60 187.70 630.40 58.80
2013-03-31 3,155.15 216.05 643.75 62.85
2012-12-31 3,340.70 244.40 657.10 66.90
2012-09-30 3,960.80 294.70 738.55 86.25
2012-06-30 3,900.00 284.40 725.30 83.20

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

SUL1 Health

 How is Sulzer'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 Sulzer's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Sulzer is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Sulzer's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Sulzer'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 2.1x 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 Sulzer Company Filings, last reported 5 months ago.

DB:SUL1 Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,641.10 1,334.70 1,095.20
2018-09-30 1,641.10 1,334.70 1,095.20
2018-06-30 1,047.10 881.00 359.10
2018-03-31 1,047.10 881.00 359.10
2017-12-31 1,702.40 713.80 488.80
2017-09-30 1,702.40 713.80 488.80
2017-06-30 1,496.10 607.70 327.90
2017-03-31 1,496.10 607.70 327.90
2016-12-31 1,591.00 465.40 429.50
2016-09-30 1,591.00 465.40 429.50
2016-06-30 1,553.40 510.90 571.20
2016-03-31 1,553.40 510.90 571.20
2015-12-31 2,234.20 521.60 1,217.30
2015-09-30 2,234.20 521.60 1,217.30
2015-06-30 2,181.10 529.60 1,107.90
2015-03-31 2,181.10 529.60 1,107.90
2014-12-31 2,442.00 528.00 1,301.50
2014-09-30 2,442.00 528.00 1,301.50
2014-06-30 2,743.80 549.60 1,290.30
2014-03-31 2,743.80 549.60 1,290.30
2013-12-31 2,340.70 572.50 528.70
2013-06-30 2,250.80 629.80 453.50
2013-03-31 2,250.80 629.80 453.50
2012-12-31 2,223.40 611.10 513.10
2012-09-30 2,303.90 611.10 513.10
2012-06-30 2,157.10 730.40 404.80
  • Sulzer's level of debt (81.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (24.4% vs 81.3% today).
  • Debt is not well covered by operating cash flow (19.5%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 15.7x coverage).
X
Financial health checks
We assess Sulzer'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. Sulzer has a total score of 3/6, 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.

SUL1 Dividends

 What is Sulzer'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
3.41%
Current annual income from Sulzer dividends. Estimated to be 3.67% next year.
If you bought €2,000 of Sulzer shares you are expected to receive €68 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?
  • Sulzer's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.45%).
  • Sulzer's dividend is below the markets top 25% of dividend payers in Germany (3.83%).
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:SUL1 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 8 Analyst Estimates (S&P Global) See Below
Germany Machinery Industry Average Dividend Yield Market Cap Weighted Average of 30 Stocks 2.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 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:SUL1 Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 3.89 8.00
2020-12-31 3.78 8.00
2019-12-31 3.63 8.00
DB:SUL1 Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2019-02-15 3.500 3.501
2018-02-27 3.500 3.250
2017-03-01 3.500 3.041
2016-04-05 3.500 3.623
2015-04-02 3.500 3.546
2014-02-20 3.200 2.753
2013-03-27 3.200 2.206
2012-08-13 3.000 2.090
2012-02-23 3.000 2.464
2011-02-24 3.000 2.584
2011-02-18 3.000 2.170
2010-02-25 2.800 2.478

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

  • Whilst dividend payments have been stable, Sulzer has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Sulzer only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Sulzer's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Sulzer'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 Sulzer afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sulzer has a total score of 2/6, see the detailed checks below.


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

SUL1 Management

 What is the CEO of Sulzer'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
Greg Poux-Guillaume
COMPENSATION CHF5,846,000
AGE 48
TENURE AS CEO 3.5 years
CEO Bio

Mr. Grégoire Poux-Guillaume, also known as Greg, has been the Chief Executive Officer at Sulzer, Ltd., since December 1, 2015 and was its Ad Interim Chief Financial Officer until 2018. Mr. Poux-Guillaume served as the President of Grid Sector at Alstom SA from 2012 to 2015 and also served as its Executive Vice President. Previously, from 2009 to 2011, he served as Senior Managing Director of CVC Capital Partners Ltd. He joined CVC in 2009 and was based in France. Previously, he worked for Alstom, where he served as the Head of Strategy during the turnaround phase before becoming the Chief Executive Officer of their €1 billion environmental control systems business. Prior to this, he was active in mid-market private equity transactions and worked for McKinsey and Total. He served as President and Chief Executive Officer of Alstom Grid from 2011 to 2015. Prior to this, he held various positions with Alstom Group from 2003 to 2008 including its Executive Vice President. From 2000 to 2002, he led transactions for Softbank (Technology Venture Capital) and for the Halley family (Carrefour). He was with McKinsey & Company from 1999 to 2000 after having held various positions with Total Exploration & Production from 1993 to 1997. He was a Director of Delachaux Group SA. Mr. Poux-Guillaume holds Bachelor and Master of Science degrees in Mechanical Engineering, Ecole Centrale Paris, France and also an M.B.A. from Harvard University.

CEO Compensation
  • Greg's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Greg's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Sulzer management team in years:

3.5
Average Tenure
53
Average Age
  • The tenure for the Sulzer management team is about average.
Management Team

Greg Poux-Guillaume

TITLE
Chief Executive Officer
COMPENSATION
CHF6M
AGE
48
TENURE
3.5 yrs

Jill Lee

TITLE
Chief Financial Officer
COMPENSATION
CHF36K
AGE
55
TENURE
1.2 yrs

Christoph Ladner

TITLE
Head of Group Communications and Investor Relations
TENURE
5 yrs

Armand Sohet

TITLE
Chief Human Resources Officer
AGE
53
TENURE
3.3 yrs

Philipp Süess

TITLE
Head of Europe & America - Sulzer Chemtech

Urs Probst

TITLE
Head of Europe - Markets & Technology

Walter Herter

TITLE
Head of Asia Pacific - Markets & Technology

Bruno Gerig

TITLE
Head of Human Resources - Sulzer Metco

Keith Dowle

TITLE
Head of Europe & Middle East Operations - Sulzer Pumps

Richard Müller

TITLE
Head of Finance & Controlling - Sulzer Turbo Services
TENURE
13.7 yrs
Board of Directors Tenure

Average tenure and age of the Sulzer board of directors in years:

4.2
Average Tenure
61
Average Age
  • The tenure for the Sulzer board of directors is about average.
Board of Directors

Peter Löscher

TITLE
Chairman
COMPENSATION
CHF765K
AGE
61
TENURE
5.3 yrs

Matthias Bichsel

TITLE
Vice Chairman
COMPENSATION
CHF321K
AGE
64
TENURE
4.2 yrs

Gerhard Roiss

TITLE
Director
COMPENSATION
CHF273K
AGE
66
TENURE
4.2 yrs

Hanne Birgitte Sørensen

TITLE
Director
COMPENSATION
CHF260K
AGE
53
TENURE
1.2 yrs

Marco Musetti

TITLE
Director
COMPENSATION
CHF270K
AGE
49
TENURE
8.2 yrs

Mikhail Lifshitz

TITLE
Director
COMPENSATION
CHF254K
AGE
55
TENURE
3.2 yrs

Lukas Braunschweiler

TITLE
Director
COMPENSATION
CHF226K
AGE
62
TENURE
1.2 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 Sulzer'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. Sulzer 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.

SUL1 News

Simply Wall St News

SUL1 Company Info

Description

Sulzer Ltd provides products and services for the oil and gas, power, water, and other markets in Switzerland and internationally. The company operates through Pumps Equipment, Rotating Equipment Services, Chemtech, and Applicator Systems divisions. It offers side-mounted horizontal and top-mounted vertical agitators, dynamic chemical mixers, and tower and tank flow management products; tower management systems; turbo compressors, aeration systems, and mechanical aerators; cartridges, mixers, dispensers, and accessories; process solutions; medium consistency products; pumping solutions and auxiliary equipment; and control and monitoring equipment. The company also provides lifting stations; pump and lifting station accessories; products for distillation, absorption, stripping, evaporation, phase separation, liquid-liquid extraction, crystallization, and membrane separation; static mixers; submersible mixers; lube oil systems; and solids reduction, separation, and removal systems. In addition, it offers rotating equipment services; mass transfer equipment, welding, plant maintenance, and turnaround project services; feasibility and debottlenecking studies, process validations, and basic engineering services; packaging solutions for beauty products; spare parts; testing services; training services; and services for water, wastewater, and dewatering products, as well as operates services centers for rotating equipment. Sulzer Ltd was founded in 1834 and is headquartered in Winterthur, Switzerland.

Details
Name: Sulzer Ltd
SUL1
Exchange: DB
Founded: 1834
CHF3,138,261,653
33,950,499
Website: http://www.sulzer.com
Address: Sulzer Ltd
Neuwiesenstrasse 15,
Winterthur,
Zurich, 8401,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX SUN Registered Shares SIX Swiss Exchange CH CHF 02. Jan 1992
OTCPK SULZ.F Registered Shares Pink Sheets LLC US USD 02. Jan 1992
DB SUL1 Registered Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0QQ9 Registered Shares London Stock Exchange GB CHF 02. Jan 1992
BATS-CHIXE SUNZ Registered Shares BATS 'Chi-X Europe' GB CHF 02. Jan 1992
Number of employees
Current staff
Staff numbers
15,572
Sulzer employees.
Industry
Industrial Machinery
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/23 20:46
End of day share price update: 2019/06/21 00:00
Last estimates confirmation: 2019/06/19
Last earnings filing: 2019/02/15
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.