DB:BDT

Stock Analysis Report

Executive Summary

Bertrandt Aktiengesellschaft develops solutions for the automotive and aviation industries in Germany and internationally.

Snowflake

Fundamentals

Established dividend payer and good value.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: BDT has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

3.6%

BDT

0.8%

DE Professional Services

0.03%

DE Market


1 Year Return

-32.6%

BDT

17.1%

DE Professional Services

9.9%

DE Market

Return vs Industry: BDT underperformed the German Professional Services industry which returned 17.1% over the past year.

Return vs Market: BDT underperformed the German Market which returned 9.9% over the past year.


Shareholder returns

BDTIndustryMarket
7 Day3.6%0.8%0.03%
30 Day19.8%4.3%4.5%
90 Day-6.6%2.8%13.6%
1 Year-30.8%-32.6%20.5%17.1%13.3%9.9%
3 Year-40.6%-45.1%51.5%39.0%25.6%14.6%
5 Year-45.4%-51.6%87.6%63.3%36.9%18.2%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

21.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BDT (€52) is trading below our estimate of fair value (€66.25)

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


Price To Earnings Ratio

PE vs Industry: BDT is good value based on its PE Ratio (11.6x) compared to the Professional Services industry average (19.9x).

PE vs Market: BDT is good value based on its PE Ratio (11.6x) compared to the German market (19.4x).


Price to Earnings Growth Ratio

PEG Ratio: BDT is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: BDT is good value based on its PB Ratio (1.3x) compared to the XE Professional Services industry average (2.2x).


Next Steps

Future Growth

How is Bertrandt forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

10.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BDT's forecast earnings growth (10.1% per year) is above the savings rate (0.2%).

Earnings vs Market: BDT's earnings (10.1% per year) are forecast to grow slower than the German market (12.6% per year).

High Growth Earnings: BDT's earnings are forecast to grow, but not significantly.

Revenue vs Market: BDT's revenue (4.7% per year) is forecast to grow slower than the German market (4.8% per year).

High Growth Revenue: BDT's revenue (4.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BDT's Return on Equity is forecast to be low in 3 years time (10.7%).


Next Steps

Past Performance

How has Bertrandt performed over the past 5 years?

-8.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BDT has a high level of non-cash earnings.

Growing Profit Margin: BDT's current net profit margins (4.3%) are lower than last year (4.8%).


Past Earnings Growth Analysis

Earnings Trend: BDT's earnings have declined by -8.2% per year over the past 5 years.

Accelerating Growth: BDT's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BDT had negative earnings growth (-5.3%) over the past year, making it difficult to compare to the Professional Services industry average (7.1%).


Return on Equity

High ROE: BDT's Return on Equity (11.1%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Bertrandt's financial position?


Financial Position Analysis

Short Term Liabilities: BDT's short term assets (€469.2M) exceeds its short term liabilities (€159.2M)

Long Term Liabilities: BDT's short term assets (469.2M) exceeds its long term liabilities (235.7M)


Debt to Equity History and Analysis

Debt Level: BDT's debt to equity ratio (59.2%) is considered high

Reducing Debt: BDT's debt to equity ratio has increased from 0.03% to 59.2% over the past 5 years.

Debt Coverage: BDT's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: BDT's interest payments on its debt are well covered by EBIT (20.5x coverage).


Balance Sheet

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

Debt Coverage by Assets: BDT's debt is covered by short term assets (assets are 1.9x debt).


Next Steps

Dividend

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

3.82%

Current Dividend Yield


Dividend Yield vs Market

company3.8%marketbottom25%1.3%markettop25%3.7%industryaverage2.5%forecastin3Years4.1%

Current dividend yield vs market & industry

Notable Dividend: BDT's dividend (3.82%) is higher than the bottom 25% of dividend payers in the German market (1.33%).

High Dividend: BDT's dividend (3.82%) is in the top 25% of dividend payers in the German market (3.66%)


Stability and Growth of Payments

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

Growing Dividend: BDT's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (44.3%), BDT's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BDT's dividends in 3 years are forecast to be well covered by earnings (44.1% payout ratio).


Next Steps

Management

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

0.8yrs

Average board tenure


CEO

Bertrandt has no CEO, or we have no data on them.


Board Age and Tenure

0.8yrs

Average Tenure

59yo

Average Age

Experienced Board: BDT's board of directors are not considered experienced ( 0.8 years average tenure), which suggests a new board.


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

  • Oliver Maiwald

    Head of Center of Competence for Thermodynamics & Emissions

    • Tenure: 0yrs
  • Matthias Ruhl

    Head of Powertrain & Chassic Competence Centre

    • Tenure: 0yrs
  • Kai Golowko

    Head of the Integrated Vehicle Safety Department

    • Tenure: 0yrs
  • Hans-Gerd Claus

    Head of Engineering & Member of Management Board

    • Tenure: 7.1yrs
    • Compensation: €1.18m
  • Michael Lucke

    Head of Sales & Member of Management Board

    • Tenure: 7.1yrs
    • Compensation: €1.19m
  • Markus Ruf

    Head of Finance & Member of Management Board

    • Tenure: 0yrs
    • Compensation: €1.18m
  • Mario Cannata

    Head of Testing Competence Centre

    • Tenure: 0yrs
  • Klaus Hartl

    Head of Electrical Systems & Electronics Competence Centre

    • Tenure: 0yrs
  • Stefan Koch

    Head of the Powertrain Development Department

    • Tenure: 0yrs
  • Markus Götzl

    Head of Corporate Development

    • Tenure: 0yrs

Board Members

  • Maximilian Wölfle (79yo)

    Vice Chairman of Supervisory Board

    • Tenure: 0yrs
    • Compensation: €64.00k
  • Wilfried Sihn (63yo)

    Member of the Supervisory Board

    • Tenure: 0yrs
    • Compensation: €40.00k
  • Dietmar Bichler

    Chairman of Supervisory Board

    • Tenure: 0.8yrs
    • Compensation: €2.36m
  • Horst Binnig (60yo)

    Member of the Supervisory Board

    • Tenure: 13.8yrs
    • Compensation: €40.00k
  • Udo Bäder (58yo)

    Member of Supervisory Board

    • Tenure: 0.8yrs
  • Michael Schmidt (47yo)

    Member of the Supervisory Board

    • Tenure: 0.8yrs
  • Marianne Weiß (27yo)

    Member of the Supervisory Board

    • Tenure: 0.8yrs

Company Information

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


Key Information

  • Name: Bertrandt Aktiengesellschaft
  • Ticker: BDT
  • Exchange: DB
  • Founded: 1974
  • Industry: Research and Consulting Services
  • Sector: Commercial Services
  • Market Cap: €527.979m
  • Shares outstanding: 10.10m
  • Website: https://www.bertrandt.com

Number of Employees


Location

  • Bertrandt Aktiengesellschaft
  • Birkensee 1
  • Ehningen
  • Baden-Württemberg
  • 71139
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BDTDB (Deutsche Boerse AG)YesOrdinary SharesDEEUROct 1996
BDTXTRA (XETRA Trading Platform)YesOrdinary SharesDEEUROct 1996
0NYZLSE (London Stock Exchange)YesOrdinary SharesGBEUROct 1996
BDGX.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDOct 1996
BDTDBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEUROct 1996
BDTSWX (SIX Swiss Exchange)YesOrdinary SharesCHCHFOct 1996
BDTWBAG (Wiener Boerse AG)YesOrdinary SharesATEUROct 1996

Biography

Bertrandt Aktiengesellschaft develops solutions for the automotive and aviation industries in Germany and internationally. The company operates through Digital Engineering, Physical Engineering, and Electr ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/16 20:39
End of Day Share Price2019/11/15 00:00
Earnings2019/06/30
Annual Earnings2018/09/30


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.