XTRA:GBF

Stock Analysis Report

Executive Summary

Bilfinger SE provides industrial services to customers in the process industry.

Snowflake

Fundamentals

Fair value with moderate growth potential.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: GBF's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-1.3%

GBF

-1.5%

DE Commercial Services

-0.5%

DE Market


1 Year Return

5.2%

GBF

0.6%

DE Commercial Services

12.2%

DE Market

Return vs Industry: GBF exceeded the German Commercial Services industry which returned 0.6% over the past year.

Return vs Market: GBF underperformed the German Market which returned 12.2% over the past year.


Shareholder returns

GBFIndustryMarket
7 Day-1.3%-1.5%-0.5%
30 Day13.8%5.2%4.4%
90 Day39.6%15.8%11.1%
1 Year8.9%5.2%4.3%0.6%15.8%12.2%
3 Year-3.1%-11.3%4.5%-4.5%24.7%13.8%
5 Year-26.7%-36.0%-1.3%-15.1%35.0%16.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Bilfinger undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: GBF (€31) is trading below our estimate of fair value (€552.09)

Significantly Below Fair Value: GBF is trading below fair value by more than 20%.


Price To Earnings Ratio

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

PE vs Market: GBF 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 GBF's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: GBF is good value based on its PB Ratio (1.1x) compared to the DE Commercial Services industry average (2.6x).


Next Steps

Future Growth

How is Bilfinger forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

39.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GBF is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (0.2%).

Earnings vs Market: GBF is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: GBF's is expected to become profitable in the next 3 years.

Revenue vs Market: GBF's revenue (2.6% per year) is forecast to grow slower than the German market (4.8% per year).

High Growth Revenue: GBF's revenue (2.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: GBF's Return on Equity is forecast to be low in 3 years time (8.2%).


Next Steps

Past Performance

How has Bilfinger performed over the past 5 years?

13.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: GBF has large one-off items impacting its financial results.

Growing Profit Margin: GBF is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: GBF is unprofitable, but has reduced losses over the past 5 years at a rate of 13.4% per year.

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

Earnings vs Industry: GBF is unprofitable, making it difficult to compare its past year earnings growth to the Commercial Services industry (6.1%).


Return on Equity

High ROE: GBF has a negative Return on Equity (-1.43%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Bilfinger's financial position?


Financial Position Analysis

Short Term Liabilities: GBF's short term assets (€2.2B) exceeds its short term liabilities (€1.8B)

Long Term Liabilities: GBF's short term assets (€2.2B) exceeds its long term liabilities (957.8M)


Debt to Equity History and Analysis

Debt Level: GBF's debt to equity ratio (72.7%) is considered high.

Reducing Debt: GBF's debt to equity ratio has increased from 27.9% to 72.7% over the past 5 years.


Balance Sheet

Inventory Level: GBF has a low level of unsold assets or inventory.

Debt Coverage by Assets: GBF's debt is covered by short term assets (assets are 2.7x 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: GBF has sufficient cash runway for more than 3 years based on its current free cash flow.

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


Next Steps

Dividend

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

3.23%

Current Dividend Yield


Dividend Yield vs Market

company3.2%marketbottom25%1.3%markettop25%3.7%industryaverage3.6%forecastin3Years3.6%

Current dividend yield vs market & industry

Notable Dividend: GBF's dividend (3.23%) is higher than the bottom 25% of dividend payers in the German market (1.35%).

High Dividend: GBF's dividend (3.23%) is low compared to the top 25% of dividend payers in the German market (3.7%).


Stability and Growth of Payments

Stable Dividend: GBF's dividend payments have been volatile in the past 10 years.

Growing Dividend: GBF's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: GBF is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: GBF's dividends in 3 years are forecast to be well covered by earnings (39.8% payout ratio).


Next Steps

Management

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

2.0yrs

Average management tenure


CEO

Tom Blades (63yo)

0yrs

Tenure

€4,061,000

Compensation

Mr. Thomas Blades, also known as Tom, has been the Chairman of the Executive Board at Bilfinger SE since July 1, 2016 and serves as its Chief Executive Officer. He was the Chief Financial Officer of Bilfin ...


CEO Compensation Analysis

Compensation vs Market: Tom's total compensation ($USD4.50M) is above average for companies of similar size in the German market ($USD1.56M).

Compensation vs Earnings: Tom's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

2.0yrs

Average Tenure

52.5yo

Average Age

Experienced Management: GBF's management team is considered experienced (2 years average tenure).


Board Age and Tenure

4.3yrs

Average Tenure

54yo

Average Age

Experienced Board: GBF's board of directors are considered experienced (4.3 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

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Tom Blades (63yo)

    Chairman of the Executive Board & CEO

    • Tenure: 0yrs
    • Compensation: €4.06m
  • Olaf Schneider (48yo)

    Head of Corporate Legal & Insurance and General Counsel

    • Tenure: 4yrs
  • Jon Rokk

    President & CEO of the Engineering and Maintenance Division in the Middle East

    • Tenure: 0yrs
  • Michael Bernhardt (52yo)

    Labor Director & Member of the Executive Board

    • Tenure: 4yrs
    • Compensation: €1.95m
  • Christina Johansson (53yo)

    CFO & Member of the Executive Board

    • Tenure: 0.9yrs
    • Compensation: €781.00k
  • Andreas Müller (60yo)

    Managing Director of Corporate Accounting & Tax and Investor Relations

    • Tenure: 0yrs
  • Bettina Schneider

    Head of Investor Relations

    • Tenure: 0yrs
  • Ali Vezvaei

    Executive President for the Middle East Operations

    • Tenure: 2yrs
  • Duncan Hall (52yo)

    COO & Member of the Executive Board

    • Tenure: 0.8yrs

Board Members

  • Eckhard Cordes (69yo)

    Chairman of Supervisory Board

    • Tenure: 5yrs
  • Gert Becker

    Honorary Chairman of Supervisory Board

    • Tenure: 0yrs
    • Compensation: €43.88k
  • Rainer Knerler (57yo)

    Member of Supervisory Board

    • Tenure: 23.8yrs
  • Lone Schrøder (59yo)

    Member of Supervisory Board

    • Tenure: 8.5yrs
  • Stephan Brückner (54yo)

    Deputy Chairman of Supervisory Board

    • Tenure: 0yrs
  • Jens Tischendorf (46yo)

    Member of Supervisory Board

    • Tenure: 6.6yrs
  • Frank Lutz (51yo)

    Member of Supervisory Board

    • Tenure: 1.5yrs
  • Ralph Heck (63yo)

    Member of Supervisory Board

    • Tenure: 3.5yrs
  • Dorothée Deuring (51yo)

    Member of Supervisory Board

    • Tenure: 3.5yrs
  • Janna Köke (36yo)

    Member of Supervisory Board

    • Tenure: 3.5yrs

Company Information

Bilfinger SE's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Bilfinger SE
  • Ticker: GBF
  • Exchange: XTRA
  • Founded: 1880
  • Industry: Diversified Support Services
  • Sector: Commercial Services
  • Market Cap: €1.248b
  • Shares outstanding: 40.27m
  • Website: https://www.bilfinger.com

Number of Employees


Location

  • Bilfinger SE
  • Oskar-Meixner-Strasse 1
  • Mannheim
  • Baden-Württemberg
  • 68163
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GBFDB (Deutsche Boerse AG)YesBearer SharesDEEURJan 1992
GBFXTRA (XETRA Trading Platform)YesBearer SharesDEEURJan 1992
0NRGLSE (London Stock Exchange)YesBearer SharesGBEURJan 1992
BFLB.FOTCPK (Pink Sheets LLC)YesBearer SharesUSUSDJan 1992
GBFDBATS-CHIXE (BATS 'Chi-X Europe')YesBearer SharesGBEURJan 1992
GBFSWX (SIX Swiss Exchange)YesBearer SharesCHCHFJan 1992
GBFWBAG (Wiener Boerse AG)YesBearer SharesATEURJan 1992
BFLB.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDNov 2008

Biography

Bilfinger SE provides industrial services to customers in the process industry. It offers maintenance engineering and consulting, planning and execution of maintenance measures, coordination of subcontract ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/19 21:06
End of Day Share Price2019/11/19 00:00
Earnings2019/09/30
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.