Solar A/S operates as a sourcing and services company in electrical, heating and plumbing, ventilation, and climate and energy solutions in the Danish, Swedish, Norwegian, and Dutch markets.
Adequate balance sheet with moderate growth potential.
Share Price & News
How has Solar's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: ZVR has not had significant price volatility in the past 3 months.
7 Day Return
DE Trade Distributors
1 Year Return
DE Trade Distributors
Return vs Industry: ZVR underperformed the German Trade Distributors industry which returned 11% over the past year.
Return vs Market: ZVR underperformed the German Market which returned 15% over the past year.
Price Volatility Vs. Market
How volatile is Solar's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is Solar undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: ZVR (€42.15) is trading below our estimate of fair value (€110.96)
Significantly Below Fair Value: ZVR is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: ZVR is poor value based on its PE Ratio (35.2x) compared to the Trade Distributors industry average (15.9x).
PE vs Market: ZVR is poor value based on its PE Ratio (35.2x) compared to the German market (21.1x).
Price to Earnings Growth Ratio
PEG Ratio: ZVR is poor value based on its PEG Ratio (1x)
Price to Book Ratio
PB vs Industry: ZVR is overvalued based on its PB Ratio (1.5x) compared to the DE Trade Distributors industry average (1.3x).
How is Solar forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ZVR's forecast earnings growth (33.8% per year) is above the savings rate (-0.4%).
Earnings vs Market: ZVR's earnings (33.8% per year) are forecast to grow faster than the German market (13.3% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: ZVR's revenue (1.8% per year) is forecast to grow slower than the German market (5% per year).
High Growth Revenue: ZVR's revenue (1.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: ZVR's Return on Equity is forecast to be low in 3 years time (14.8%).
How has Solar performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ZVR has a large one-off loss of DKK106.0M impacting its December 31 2019 financial results.
Growing Profit Margin: ZVR's current net profit margins (0.6%) are lower than last year (1.6%).
Past Earnings Growth Analysis
Earnings Trend: ZVR has become profitable over the past 5 years, growing earnings by 27.7% per year.
Accelerating Growth: ZVR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: ZVR had negative earnings growth (-63.7%) over the past year, making it difficult to compare to the Trade Distributors industry average (20.1%).
Return on Equity
High ROE: ZVR's Return on Equity (4.1%) is considered low.
Return on Assets
Return on Capital Employed
How is Solar's financial position?
Financial Position Analysis
Short Term Liabilities: ZVR's short term assets (DKK3.2B) exceed its short term liabilities (DKK2.9B).
Long Term Liabilities: ZVR's short term assets (DKK3.2B) exceed its long term liabilities (DKK503.0M).
Debt to Equity History and Analysis
Debt Level: ZVR's debt to equity ratio (45%) is considered high.
Reducing Debt: ZVR's debt to equity ratio has increased from 41.4% to 45% over the past 5 years.
Debt Coverage: ZVR's debt is well covered by operating cash flow (41.6%).
Interest Coverage: ZVR's interest payments on its debt are well covered by EBIT (9.7x coverage).
Inventory Level: ZVR has a high level of physical assets or inventory.
Debt Coverage by Assets: ZVR's debt is covered by short term assets (assets are 4.5x debt).
What is Solar's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Upcoming Dividend Payment
Purchase Solar before the 'Buy Limit' to receive their next dividend payment.
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: ZVR's dividend (4.4%) is higher than the bottom 25% of dividend payers in the German market (1.31%).
High Dividend: ZVR's dividend (4.4%) is in the top 25% of dividend payers in the German market (3.59%)
Stability and Growth of Payments
Stable Dividend: ZVR's dividend payments have been volatile in the past 10 years.
Growing Dividend: ZVR's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (154.8%), ZVR's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: ZVR's dividends in 3 years are forecast to be well covered by earnings (44.5% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Jens Andersen (51yo)
Mr. Jens E. Andersen has been the Chief Executive Officer and Member of Executive Board at Solar A/S since October 8, 2017 and serves as its Managing Director of Denmark. Mr. Andersen served as Senior Vice ...
|CEO, MD of Denmark & Member of Executive Board||2.3yrs||no data||0.061% DKK191.0k|
|CFO & Member of Executive Board||9.1yrs||no data||0.017% DKK54.1k|
|Chief Commercial Officer & Member of Executive Board||0yrs||no data||no data|
|Senior Vice President of Group Operations||0.2yrs||no data||no data|
|Director of Stakeholder Relations||0yrs||no data||no data|
|Senior VP & MD of Poland||0yrs||no data||no data|
|Senior VP & MD of Norway||0yrs||no data||no data|
|Senior VP & MD of Sweden||0yrs||no data||no data|
|Senior VP & MD of MAG45||4yrs||no data||no data|
|Senior Vice President of Industry Sales||2.4yrs||no data||no data|
Experienced Management: ZVR's management team is considered experienced (2.4 years average tenure).
|Chairman||0yrs||no data||1.72% DKK5.3m|
|Director||14.1yrs||no data||0.00082% DKK2.6k|
|Independent Director||11.1yrs||no data||0.017% DKK53.3k|
|Employee-Elected Member||10.1yrs||no data||0.0013% DKK4.0k|
|Independent Director||0.9yrs||no data||no data|
|Independent Director||2.1yrs||no data||0.0055% DKK17.0k|
|Vice Chairman||0.9yrs||no data||0.0034% DKK10.7k|
|Employee-Elected Member||6.1yrs||no data||0.00082% DKK2.6k|
|Independent Director||3.1yrs||no data||0.0052% DKK16.2k|
Experienced Board: ZVR's board of directors are considered experienced (4.6 years average tenure).
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.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Solar A/S's company bio, employee growth, exchange listings and data sources
- Name: Solar A/S
- Ticker: ZVR
- Exchange: DB
- Founded: 1919
- Industry: Trading Companies and Distributors
- Sector: Capital Goods
- Market Cap: ø2.325b
- Listing Market Cap: ø311.102m
- Shares outstanding: 7.30m
- Website: https://www.solar.eu
Number of Employees
- Solar A/S
- Industrivej Vest 43
- Region of Southern Denmark
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|SOLAR B||CPSE (OMX Nordic Exchange Copenhagen)||Yes||Class B Shares DKK 100||DK||DKK||Jan 1992|
|ZVR||DB (Deutsche Boerse AG)||Yes||Class B Shares DKK 100||DE||EUR||Jan 1992|
|0G33||LSE (London Stock Exchange)||Yes||Class B Shares DKK 100||GB||DKK||Jan 1992|
|SOLABC||BATS-CHIXE (BATS 'Chi-X Europe')||Yes||Class B Shares DKK 100||GB||DKK||Jan 1992|
Solar A/S operates as a sourcing and services company in electrical, heating and plumbing, ventilation, and climate and energy solutions in the Danish, Swedish, Norwegian, and Dutch markets. The company offers lighting fixtures and luminaries, and various installation materials; and switches and sockets, and other products in relation to intelligent building systems, as well as cables. It also provides communication and security products and solutions, such as video surveillance equipment and accessories, burglar alarms, fire alarms, and access control systems for large installations and urban networks, as well as customized solutions for home switches, UPS, and antenna equipment for telephony. In addition, the company offers valves; solar panels and electricity, wood, pellet boilers, etc.; products for bathrooms and kitchens, as well as pipes of steel, copper, and plastic for various purposes; products for mounting and supporting the pipes; and drainage systems, cable protection systems, floor drains, cold-water pumps, and hoses and insulation products. Further, it provides logistics, professional support, and training services. The company was founded in 1919 and is headquartered in Vejen, Denmark.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/16 21:21|
|End of Day Share Price||2020/02/14 00:00|
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.