DB:BV0

Stock Analysis Report

Executive Summary

Bravida Holding AB (publ) provides technical services and installations for buildings and industrial facilities in Sweden, Norway, Denmark, and Finland.


Snowflake Analysis

Undervalued with excellent balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: BV0's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

12.9%

BV0

1.0%

DE Commercial Services

7.2%

DE Market


1 Year Return

-20.8%

BV0

-32.2%

DE Commercial Services

-17.5%

DE Market

Return vs Industry: BV0 exceeded the German Commercial Services industry which returned -28.9% over the past year.

Return vs Market: BV0 underperformed the German Market which returned -14.1% over the past year.


Shareholder returns

BV0IndustryMarket
7 Day12.9%1.0%7.2%
30 Day-28.7%-25.8%-22.3%
90 Day-29.4%-34.2%-26.1%
1 Year-18.8%-20.8%-29.7%-32.2%-14.9%-17.5%
3 Year9.4%1.9%-27.9%-34.2%-18.7%-25.7%
5 Yearn/a-35.8%-44.8%-17.8%-29.1%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Bravida Holding 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: BV0 (€6.09) is trading below our estimate of fair value (€13.11)

Significantly Below Fair Value: BV0 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: BV0 is good value based on its PE Ratio (15.7x) compared to the Commercial Services industry average (91.6x).

PE vs Market: BV0 is good value based on its PE Ratio (15.7x) compared to the German market (16.6x).


Price to Earnings Growth Ratio

PEG Ratio: BV0 is poor value based on its PEG Ratio (1.8x)


Price to Book Ratio

PB vs Industry: BV0 is good value based on its PB Ratio (2.5x) compared to the DE Commercial Services industry average (2.8x).


Next Steps

Future Growth

How is Bravida Holding forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

8.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BV0's forecast earnings growth (8.6% per year) is above the savings rate (-0.4%).

Earnings vs Market: BV0's earnings (8.6% per year) are forecast to grow slower than the German market (14.7% per year).

High Growth Earnings: BV0's earnings are forecast to grow, but not significantly.

Revenue vs Market: BV0's revenue (3.8% per year) is forecast to grow slower than the German market (4% per year).

High Growth Revenue: BV0's revenue (3.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BV0's Return on Equity is forecast to be low in 3 years time (16.4%).


Next Steps

Past Performance

How has Bravida Holding performed over the past 5 years?

23.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BV0 has high quality earnings.

Growing Profit Margin: BV0's current net profit margins (4.3%) are lower than last year (4.9%).


Past Earnings Growth Analysis

Earnings Trend: BV0's earnings have grown significantly by 23.2% per year over the past 5 years.

Accelerating Growth: BV0's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BV0 had negative earnings growth (-7.3%) over the past year, making it difficult to compare to the Commercial Services industry average (10.9%).


Return on Equity

High ROE: BV0's Return on Equity (15.8%) is considered low.


Next Steps

Financial Health

How is Bravida Holding's financial position?


Financial Position Analysis

Short Term Liabilities: BV0's short term assets (SEK6.6B) do not cover its short term liabilities (SEK8.7B).

Long Term Liabilities: BV0's short term assets (SEK6.6B) exceed its long term liabilities (SEK2.2B).


Debt to Equity History and Analysis

Debt Level: BV0's debt to equity ratio (35.7%) is considered satisfactory.

Reducing Debt: BV0's debt to equity ratio has reduced from 104.4% to 35.7% over the past 5 years.

Debt Coverage: BV0's debt is well covered by operating cash flow (80.2%).

Interest Coverage: BV0's interest payments on its debt are well covered by EBIT (45.3x coverage).


Balance Sheet

Inventory Level: BV0 has a low level of unsold assets or inventory.

Debt Coverage by Assets: BV0's debt is covered by short term assets (assets are 3.3x debt).


Next Steps

Dividend

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

3.28%

Current Dividend Yield


Upcoming Dividend Payment

TodayMar 28 2020Ex Dividend DateApr 27 2020Dividend Pay DateMay 04 20207 days from Ex DividendBuy in the next 29 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: BV0's dividend (3.28%) is higher than the bottom 25% of dividend payers in the German market (1.66%).

High Dividend: BV0's dividend (3.28%) is low compared to the top 25% of dividend payers in the German market (4.86%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, BV0 has been paying a dividend for less than 10 years.

Growing Dividend: BV0's dividend payments have increased, but the company has only paid a dividend for 4 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (51.6%), BV0's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BV0's dividends in 3 years are forecast to be well covered by earnings (48.9% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.2yrs

Average management tenure


CEO

Mattias Johansson (46yo)

5.17s

Tenure

kr15,605,000

Compensation

Mr. Mattias Johansson has been the Chief Executive Officer and Group President at Bravida Holding AB (publ) since January 1, 2015 and served as its Acting Head of Division Finland from August 22, 2017 to M ...


CEO Compensation Analysis

Compensation vs Market: Mattias's total compensation ($USD1.57M) is about average for companies of similar size in the German market ($USD1.85M).

Compensation vs Earnings: Mattias's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Mattias Johansson
CEO & Group President5.17yrskr15.61m0.32% SEK4.1m
Åsa Neving
Chief Financial Officer0.83yrno datano data
Magnus Liljefors
Chief Legal Officer & Head of Acquisitions10.17yrsno data0.027% SEK342.1k
Ingegerd Engquist
Head of Group Human Resources3.83yrsno data0.0095% SEK119.1k
Anders Ahlquist
Head of South Division - Sweden7.17yrsno data0.10% SEK1.3m
Lars Korduner
Chief Purchasing Officer15.17yrsno data0.040% SEK503.6k
Tore Bakke
Head of Division Norway5.17yrsno data0.038% SEK476.9k
Magnus Hamerslag
Head of Operations Development9.17yrsno data0.0049% SEK62.2k
Thommy Lundmark
Head of Division North - Sweden4.17yrsno data0.0049% SEK62.2k
Johnny Jensen
Head of Division Denmark2.92yrsno data0.0071% SEK89.7k

5.2yrs

Average Tenure

52.5yo

Average Age

Experienced Management: BV0's management team is seasoned and experienced (5.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Fredrik Arp
Independent Chairman of the Board1.92yrskr786.00k0.0099% SEK124.4k
Cecilia Wennborg
Independent Director3.83yrskr560.00k0.0035% SEK43.6k
Mikael Norman
Independent Director3.83yrskr630.00k0.0049% SEK62.2k
Marie Nygren
Independent Director1.92yrskr367.00kno data
Jan-Ericson Arvidsson
Employee Representative Director5.17yrsno datano data
Anders Mårtensson
Employee Representative Director13.17yrsno datano data
Staffan Påhlsson
Independent Director3.83yrskr530.00k0.82% SEK10.4m
Jan Johansson
Independent Director6.17yrskr550.00k0.019% SEK235.7k
Geir Gjestad
Employee Representative Director4.17yrsno datano data
Örnulf Thorsen
Employee Representative Director4.17yrsno datano data

4.0yrs

Average Tenure

55.5yo

Average Age

Experienced Board: BV0's board of directors are considered experienced (4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: BV0 insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Bravida Holding AB (publ)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Bravida Holding AB (publ)
  • Ticker: BV0
  • Exchange: DB
  • Founded: 1922
  • Industry: Diversified Support Services
  • Sector: Commercial Services
  • Market Cap: kr13.887b
  • Listing Market Cap: kr1.260b
  • Shares outstanding: 202.59m
  • Website: https://www.bravida.se

Number of Employees


Location

  • Bravida Holding AB (publ)
  • Mikrofonvägen 28
  • Stockholm
  • Stockholm County
  • 126 81
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BRAVOM (OMX Nordic Exchange Stockholm)YesOrdinary SharesSESEKOct 2015
BV0DB (Deutsche Boerse AG)YesOrdinary SharesDEEUROct 2015
0RBWLSE (London Stock Exchange)YesOrdinary SharesGBSEKOct 2015
BRAVSBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBSEKOct 2015

Biography

Bravida Holding AB (publ) provides technical services and installations for buildings and industrial facilities in Sweden, Norway, Denmark, and Finland. The company offers installation services for the new construction and remodeling of technical systems in buildings, plants, and infrastructure; and operation and maintenance services, as well as undertakes minor upgrade works. It provides technical and installation services for electrical, heating, and plumbing systems, as well as heating, ventilation, and air conditioning systems in buildings and commercial facilities; and installs and services security and sprinkler systems, cooling and power facilities, lifts, and services within project management and technical service management. The company primarily serves property owners, professional tenants, and building contractors. Bravida Holding AB (publ) was founded in 1922 and is headquartered in Stockholm, Sweden. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/27 23:00
End of Day Share Price2020/03/27 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.