DB:VQT

Stock Analysis Report

Executive Summary

va-Q-tec AG develops, manufactures, and sells vacuum insulation panels and phase change materials in Germany, rest of European Union, and internationally.

Snowflake

Fundamentals

Overvalued with concerning outlook.

Share Price & News

How has va-Q-tec's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-0.5%

VQT

1.1%

DE Machinery

1.7%

DE Market


1 Year Return

75.2%

VQT

-12.6%

DE Machinery

7.2%

DE Market

Return vs Industry: VQT exceeded the German Machinery industry which returned -12.6% over the past year.

Return vs Market: VQT exceeded the German Market which returned 7.2% over the past year.


Shareholder returns

VQTIndustryMarket
7 Day-0.5%1.1%1.7%
30 Day22.1%-3.8%2.4%
90 Day15.8%-4.6%2.3%
1 Year75.2%75.2%-9.8%-12.6%10.6%7.2%
3 Year-23.8%-23.8%-16.0%-22.1%18.4%8.1%
5 Yearn/a19.9%5.8%42.3%22.9%

Price Volatility Vs. Market

How volatile is va-Q-tec's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is va-Q-tec undervalued compared to its fair value and its price relative to the market?

15.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: VQT (€10.65) is trading below our estimate of fair value (€12.58)

Significantly Below Fair Value: VQT is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: VQT is unprofitable, so we can't compare its PE Ratio to the Machinery industry average.

PE vs Market: VQT is unprofitable, so we can't compare its PE Ratio to the German market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate VQT's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: VQT is overvalued based on its PB Ratio (3.3x) compared to the DE Machinery industry average (1.4x).


Next Steps

Future Growth

How is va-Q-tec forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

104.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: VQT is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: VQT is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: VQT is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: VQT's revenue (15.6% per year) is forecast to grow faster than the German market (5% per year).

High Growth Revenue: VQT's revenue (15.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if VQT's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has va-Q-tec performed over the past 5 years?

-60.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: VQT is unprofitable, and losses have increased over the past 5 years at a rate of -60.3% per year.

Accelerating Growth: Unable to compare VQT's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: VQT is unprofitable, making it difficult to compare its past year earnings growth to the Machinery industry (-11.2%).


Return on Equity

High ROE: VQT has a negative Return on Equity (-11.65%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: VQT is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: VQT is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is va-Q-tec's financial position?


Financial Position Analysis

Short Term Liabilities: VQT's short term assets (€28.8M) exceeds its short term liabilities (€25.7M)

Long Term Liabilities: VQT's short term assets (28.8M) do not cover its long term liabilities (38.5M)


Debt to Equity History and Analysis

Debt Level: VQT's debt to equity ratio (77.6%) is considered high

Reducing Debt: VQT's debt to equity ratio has increased from 44.4% to 77.6% over the past 5 years.


Balance Sheet

Inventory Level: VQT has a high level of physical assets or inventory.

Debt Coverage by Assets: VQT's debt is not covered by short term assets (assets are 0.8x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: VQT has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if VQT has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

What is va-Q-tec's current dividend yield, its reliability and sustainability?

0.11%

Forecast Dividend Yield


Dividend Yield vs Market

companyn/amarketbottom25%1.5%markettop25%3.8%industryaverage2.4%forecastin3Years0.1%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate VQT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate VQT's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if VQT's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if VQT's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of VQT's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

What is the CEO of va-Q-tec's salary, the management and board of directors tenure and is there insider trading?

12.3yrs

Average management tenure


CEO

Joachim Kuhn (55yo)

18.8yrs

Tenure

0

Dr. Joachim Kuhn co-founded va-Q-tec AG in 2000 and has been its Chief Executive Officer since 2001. Dr. Kuhn has been Consultant of va-Q-tec AG since 2015. Dr. Kuhn serves as the Chairman of Management Bo ...


Management Age and Tenure

12.3yrs

Average Tenure

55yo

Average Age

Experienced Management: VQT's management team is seasoned and experienced (12.3 years average tenure).


Board Age and Tenure

5.3yrs

Average Tenure

62.5yo

Average Age

Experienced Board: VQT's board of directors are considered experienced (5.3 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Roland Caps (63yo)

    Co-Founder and Head of Innovation & Quality Department

    • Tenure: 19.8yrs
  • Joachim Kuhn (55yo)

    Co-Founder

    • Tenure: 18.8yrs
  • Stefan Döhmen (55yo)

    CFO & Member of the Management Board

    • Tenure: 2.3yrs
  • Insook Yoo

    Head of Business Development - Asia

    • Tenure: 5.8yrs

Board Members

  • Uwe Krämer (41yo)

    Member of Supervisory Board

    • Tenure: 4yrs
  • Barbara Ooms-Gnauck (62yo)

    Member of the Supervisory Board

    • Tenure: 5.3yrs
  • Uwe Lamann (70yo)

    Deputy Chairman of the Supervisory Board

    • Tenure: 5.3yrs
  • Gerald Hommel (60yo)

    Chairman of the Supervisory Board

    • Tenure: 5.3yrs
  • Winfried Klar (65yo)

    Member of Supervisory Board

    • Tenure: 6.6yrs
  • Eberhard Kroth (63yo)

    Member of Supervisory Board

    • Tenure: 6.6yrs

Company Information

va-Q-tec AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: va-Q-tec AG
  • Ticker: VQT
  • Exchange: DB
  • Founded: 2001
  • Industry: Industrial Machinery
  • Sector: Capital Goods
  • Market Cap: €141.220m
  • Shares outstanding: 13.08m
  • Website: https://www.va-q-tec.com

Number of Employees


Location

  • va-Q-tec AG
  • Alfred-Nobel-Strasse 33
  • Würzburg
  • Bavaria
  • 97080
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
0RJDLSE (London Stock Exchange)YesOrdinary SharesGBEURSep 2016
VQTDB (Deutsche Boerse AG)YesOrdinary SharesDEEURSep 2016
VQTXTRA (XETRA Trading Platform)YesOrdinary SharesDEEURSep 2016
VQTDBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURSep 2016

Biography

va-Q-tec AG develops, manufactures, and sells vacuum insulation panels and phase change materials in Germany, rest of European Union, and internationally. It also manufactures and distributes thermal packa ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 21:39
End of Day Share Price2019/10/22 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.