Loading...

Steelcase

DB:GJB
Snowflake Description

Established dividend payer and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GJB
DB
$2B
Market Cap
  1. Home
  2. DE
  3. Commercial Services
Company description

Steelcase Inc. manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. The last earnings update was 13 days ago. More info.


Add to Portfolio Compare Print
GJB Share Price and Events
7 Day Returns
-0.8%
DB:GJB
0.1%
DE Commercial Services
0.8%
DE Market
1 Year Returns
34.3%
DB:GJB
-6.3%
DE Commercial Services
-4.5%
DE Market
GJB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Steelcase (GJB) -0.8% 10.8% 2.5% 34.3% 9.1% 25.2%
DE Commercial Services 0.1% 3.3% 10.1% -6.3% 3.5% -41.2%
DE Market 0.8% 6.9% 8.1% -4.5% 10.4% 13.9%
1 Year Return vs Industry and Market
  • GJB outperformed the Commercial Services industry which returned -6.3% over the past year.
  • GJB outperformed the Market in Germany which returned -4.5% over the past year.
Price Volatility
GJB
Industry
5yr Volatility vs Market

GJB Value

 Is Steelcase undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Steelcase to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Steelcase.

DB:GJB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.7%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:GJB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.74
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.735 (1 + (1- 21%) (24.71%))
0.919
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.92
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.919 * 5.96%)
5.7%

Discounted Cash Flow Calculation for DB:GJB using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Steelcase is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:GJB DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 5.7%)
2019 111.30 Analyst x1 105.30
2020 117.95 Analyst x2 105.57
2021 158.65 Analyst x2 134.33
2022 163.50 Analyst x1 130.97
2023 182.40 Analyst x1 138.23
2024 201.30 Analyst x1 144.32
2025 215.29 Est @ 6.95% 146.02
2026 225.91 Est @ 4.93% 144.96
2027 233.87 Est @ 3.52% 141.97
2028 239.79 Est @ 2.53% 137.71
Present value of next 10 years cash flows $1,329.37
DB:GJB DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $239.79 × (1 + 0.23%) ÷ (5.7% – 0.23%)
$4,389.95
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $4,389.95 ÷ (1 + 5.7%)10
$2,521.13
DB:GJB Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,329.37 + $2,521.13
$3,850.50
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $3,850.50 / 117.31
$32.82
DB:GJB Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:GJB represents 0.88797x of NYSE:SCS
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88797x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 32.82 x 0.88797
€29.15
Value per share (EUR) From above. €29.15
Current discount Discount to share price of €14.84
= -1 x (€14.84 - €29.15) / €29.15
49.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Steelcase is available for.
Intrinsic value
49%
Share price is €14.84 vs Future cash flow value of €29.15
Current Discount Checks
For Steelcase to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Steelcase's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Steelcase's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Steelcase's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Steelcase's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:GJB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-02-22) in USD $1.06
NYSE:SCS Share Price ** NYSE (2019-04-25) in USD $16.71
Europe Commercial Services Industry PE Ratio Median Figure of 105 Publicly-Listed Commercial Services Companies 17.06x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 20.1x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Steelcase.

DB:GJB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:SCS Share Price ÷ EPS (both in USD)

= 16.71 ÷ 1.06

15.79x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Steelcase is good value based on earnings compared to the Europe Commercial Services industry average.
  • Steelcase is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Steelcase's expected growth come at a high price?
Raw Data
DB:GJB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.79x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
12.9%per year
Europe Commercial Services Industry PEG Ratio Median Figure of 53 Publicly-Listed Commercial Services Companies 1.4x
Germany Market PEG Ratio Median Figure of 268 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

DB:GJB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.79x ÷ 12.9%

1.23x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Steelcase is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Steelcase's assets?
Raw Data
DB:GJB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-02-22) in USD $7.28
NYSE:SCS Share Price * NYSE (2019-04-25) in USD $16.71
Germany Commercial Services Industry PB Ratio Median Figure of 8 Publicly-Listed Commercial Services Companies 2.03x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.87x
DB:GJB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:SCS Share Price ÷ Book Value per Share (both in USD)

= 16.71 ÷ 7.28

2.3x

* Primary Listing of Steelcase.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Steelcase is overvalued based on assets compared to the DE Commercial Services industry average.
X
Value checks
We assess Steelcase's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Commercial Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Commercial Services industry average (and greater than 0)? (1 check)
  5. Steelcase has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

GJB Future Performance

 How is Steelcase expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
12.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Steelcase expected to grow at an attractive rate?
  • Steelcase's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Steelcase's earnings growth is expected to exceed the Germany market average.
  • Steelcase's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:GJB Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:GJB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 12.9%
DB:GJB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 4.4%
Germany Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 31.4%
Germany Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 3.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:GJB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:GJB Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-02-29 4,320 313 248 1
2023-02-28 4,164 289 227 1
2022-02-28 4,013 266 207 1
2021-02-28 3,850 257 177 3
2020-02-29 3,710 219 156 3
2019-02-28 3,401 182 135 3
DB:GJB Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-02-22 3,443 131 126
2018-11-23 3,304 178 103
2018-08-24 3,175 166 92
2018-05-25 3,074 160 80
2018-02-23 3,056 227 81
2017-11-24 3,052 162 107
2017-08-25 3,066 173 122
2017-05-26 3,049 186 123
2017-02-24 3,032 171 125
2016-11-25 3,011 160 176
2016-08-26 3,012 153 171
2016-05-27 3,073 157 170
2016-02-26 3,060 186 170

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Steelcase's earnings are expected to grow by 12.9% yearly, however this is not considered high growth (20% yearly).
  • Steelcase's revenue is expected to grow by 4.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:GJB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Steelcase Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:GJB Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-02-29 2.07 2.07 2.07 1.00
2023-02-28 1.89 1.89 1.89 1.00
2022-02-28 1.73 1.73 1.73 1.00
2021-02-28 1.48 1.53 1.42 2.00
2020-02-29 1.30 1.31 1.29 2.00
2019-02-28 1.13 1.14 1.12 2.00
DB:GJB Past Financials Data
Date (Data in USD Millions) EPS *
2019-02-22 1.06
2018-11-23 0.87
2018-08-24 0.77
2018-05-25 0.67
2018-02-23 0.68
2017-11-24 0.89
2017-08-25 1.02
2017-05-26 1.03
2017-02-24 1.03
2016-11-25 1.45
2016-08-26 1.39
2016-05-27 1.37
2016-02-26 1.37

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Steelcase is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Steelcase's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Steelcase has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

GJB Past Performance

  How has Steelcase performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Steelcase's growth in the last year to its industry (Commercial Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Steelcase's year on year earnings growth rate has been positive over the past 5 years.
  • Steelcase's 1-year earnings growth exceeds its 5-year average (55.6% vs 2.2%)
  • Steelcase's earnings growth has exceeded the Europe Commercial Services industry average in the past year (55.6% vs 15.1%).
Earnings and Revenue History
Steelcase's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Steelcase Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:GJB Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-02-22 3,443.20 126.00 854.40 53.70
2018-11-23 3,303.50 103.40 852.00 44.00
2018-08-24 3,174.60 91.80 828.30 44.00
2018-05-25 3,074.40 79.60 812.90 44.00
2018-02-23 3,055.50 80.70 815.50 44.00
2017-11-24 3,051.90 106.50 807.90 35.80
2017-08-25 3,066.30 122.00 804.30 35.80
2017-05-26 3,048.70 123.30 796.90 35.80
2017-02-24 3,032.40 124.60 780.20 35.80
2016-11-25 3,011.20 176.30 779.70 33.00
2016-08-26 3,012.30 170.70 770.00 33.00
2016-05-27 3,073.30 169.70 768.80 33.00
2016-02-26 3,060.00 170.30 757.80 33.00
2015-11-27 3,062.00 115.60 772.40
2015-08-28 3,074.40 91.80 769.50
2015-05-29 3,042.10 85.10 761.20
2015-02-27 3,059.70 86.10 738.40 35.40
2014-11-28 3,089.20 87.20 767.70
2014-08-29 3,074.00 98.40 762.60
2014-05-30 3,044.90 95.50 760.10
2014-02-28 2,988.90 87.70 757.00
2013-11-22 2,930.90 36.30 748.30
2013-08-23 2,873.30 36.90 743.30
2013-05-24 2,860.60 38.80 735.40
2013-02-22 2,868.70 38.80 727.00
2012-11-23 2,837.50 81.20 726.60
2012-08-24 2,829.70 80.00 722.90
2012-05-25 2,785.30 62.40 716.80

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Steelcase has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Steelcase used its assets more efficiently than the Europe Commercial Services industry average last year based on Return on Assets.
  • Steelcase's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Steelcase's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Commercial Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Steelcase has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

GJB Health

 How is Steelcase's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Steelcase's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Steelcase is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Steelcase's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Steelcase's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Steelcase Company Filings, last reported 2 months ago.

DB:GJB Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-02-22 849.80 487.00 261.30
2018-11-23 854.50 321.40 51.00
2018-08-24 838.80 303.90 45.70
2018-05-25 809.10 294.30 134.90
2018-02-23 813.30 295.00 283.10
2017-11-24 813.30 295.60 244.10
2017-08-25 794.90 296.10 204.10
2017-05-26 789.40 296.80 181.20
2017-02-24 766.50 297.40 270.50
2016-11-25 743.90 297.30 235.80
2016-08-26 748.40 298.50 198.10
2016-05-27 734.50 299.20 151.80
2016-02-26 736.90 299.10 266.00
2015-11-27 706.50 300.10 265.70
2015-08-28 689.00 281.30 207.30
2015-05-29 663.90 281.80 156.00
2015-02-27 663.80 282.10 244.80
2014-11-28 667.20 285.00 216.20
2014-08-29 676.30 285.80 229.80
2014-05-30 687.70 286.40 243.10
2014-02-28 677.10 287.00 321.30
2013-11-22 673.80 287.10 297.00
2013-08-23 660.40 287.70 171.20
2013-05-24 644.40 288.40 146.80
2013-02-22 668.00 289.00 250.90
2012-11-23 708.90 289.80 213.40
2012-08-24 688.30 291.90 155.40
2012-05-25 686.70 291.00 132.60
  • Steelcase's level of debt (57.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (42.4% vs 57.3% today).
  • Debt is well covered by operating cash flow (26.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.4x coverage).
X
Financial health checks
We assess Steelcase's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Steelcase has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

GJB Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.47%
Current annual income from Steelcase dividends. Estimated to be 3.98% next year.
If you bought €2,000 of Steelcase shares you are expected to receive €69 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Steelcase's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • Steelcase's dividend is below the markets top 25% of dividend payers in Germany (3.67%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:GJB Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Germany Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 3.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:GJB Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-02-29 0.82 1.00
2023-02-28 0.76 1.00
2022-02-28 0.70 1.00
2021-02-28 0.61 2.00
2020-02-29 0.58 2.00
2019-02-28 0.54 2.00
DB:GJB Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-12 0.580 3.537
2019-03-19 0.580 3.781
2018-12-20 0.540 3.263
2018-12-18 0.540 3.738
2018-06-20 0.540 3.534
2017-12-19 0.510 3.531
2017-09-20 0.510 3.480
2017-09-18 0.510 3.525
2017-06-23 0.510 3.765
2017-06-21 0.510 3.494
2017-04-17 0.510 3.026
2017-03-21 0.510 3.091
2016-12-21 0.480 2.891
2016-12-20 0.480 2.784
2016-09-22 0.480 3.298
2016-09-21 0.480 3.520
2016-03-22 0.480 3.262
2015-12-23 0.450 3.409
2015-12-21 0.450 2.866
2015-09-29 0.450 2.333
2015-09-23 0.450 2.477
2015-03-24 0.450 2.480
2014-12-23 0.420 2.335
2014-12-22 0.420 2.334
2014-09-25 0.420 2.469
2014-09-23 0.420 2.582
2014-06-27 0.420 2.696
2014-06-26 0.420 2.685
2014-04-17 0.420 2.542
2014-03-25 0.420 2.578
2013-12-18 0.400 2.682
2013-09-24 0.400 2.511
2013-09-18 0.400 2.499
2013-03-28 0.400 2.816
2012-12-07 0.360 2.667
2012-09-19 0.360 3.464
2012-06-20 0.360 3.951
2012-03-23 0.360 4.130
2011-12-21 0.240 2.799
2011-09-21 0.240 3.360
2011-06-22 0.240 2.761
2011-03-23 0.240 2.222
2010-12-16 0.160 1.568
2010-09-29 0.160 1.778
2010-06-24 0.160 2.290
2010-03-30 0.160 2.102
2010-03-23 0.160 2.442
2009-09-30 0.160 2.536
2009-06-25 0.160 2.442

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Steelcase's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess Steelcase's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Steelcase afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Steelcase has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

GJB Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jim Keane
COMPENSATION $4,700,377
AGE 59
TENURE AS CEO 5.1 years
CEO Bio

Mr. James P. Keane, also known as Jim, has been the Chief Executive Officer of Steelcase Inc. since March 2014. Mr. Keane served as the President of Steelcase Inc. from April 22, 2013 to March 2014. He served as Chief Operating Officer of Steelcase Inc. from November 1, 2012 to March 2014. Mr. Keane served as the President of Steelcase Group at Steelcase Inc. from October 2006 to November 1, 2012. Mr. Keane served as an Executive Officer of LexisNexis CourtLink, Inc. Mr. Keane joined Steelcase Inc. in 1997. He served as Senior Vice President and Chief Financial Officer of Steelcase Inc. since April 2001 until October 2006 and served as its Principal Accounting Officer. He served as Senior Vice President, Finance and Corporate Strategy from February to April 2001, Senior Vice President, Corporate Strategy, Research and Development of Steelcase Inc. from 1999 to 2001. Mr. Keane served as a Vice President, Corporate Strategy, Research and Development of Steelcase Inc. from 1997 to 1999. He has been an Independent Director of Rockwell Automation Inc. since 2011. He has been a Director of Steelcase, Inc. since April 22, 2013. He holds Master’s degree in Management from Kellogg Graduate School of Management at Northwestern University. He holds Bachelor of Science in Accounting from University of Illinois in Peoria.

CEO Compensation
  • Jim's compensation has been consistent with company performance over the past year.
  • Jim's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Steelcase management team in years:

5.1
Average Tenure
56
Average Age
  • The average tenure for the Steelcase management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Jim Keane

TITLE
President
COMPENSATION
$5M
AGE
59
TENURE
5.1 yrs

Dave Sylvester

TITLE
CFO & Senior VP
COMPENSATION
$2M
AGE
53
TENURE
8 yrs

Sara Armbruster

TITLE
Vice President of Strategy of Research & Digital Transformation
COMPENSATION
$1M
AGE
47
TENURE
5.3 yrs

Lizbeth O'Shaughnessy

TITLE
Chief Administrative Officer
COMPENSATION
$1M
AGE
56
TENURE
4.8 yrs

Eddy Schmitt

TITLE
Senior Vice President of Americas
COMPENSATION
$930K
AGE
46
TENURE
5.1 yrs

Bob Krestakos

TITLE
Vice President of Global Operations
COMPENSATION
$1M
AGE
56
TENURE
4.2 yrs

Mark Mossing

TITLE
Corporate Controller & Chief Accounting Officer
AGE
60
TENURE
11 yrs

Mike O'Meara

TITLE
Director of Investor Relations & Financial Planning and Analysis

Gale Moutrey

TITLE
Vice President of Communications
AGE
59
TENURE
5.1 yrs

Allan Smith

TITLE
Vice President of Global Marketing
AGE
50
TENURE
5.6 yrs
Board of Directors Tenure

Average tenure and age of the Steelcase board of directors in years:

14.5
Average Tenure
63.5
Average Age
  • The average tenure for the Steelcase board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Rob Pew

TITLE
Chair of the Board
COMPENSATION
$300K
AGE
67
TENURE
15.8 yrs

Jim Keane

TITLE
President
COMPENSATION
$5M
AGE
59
TENURE
6 yrs

Cathy Ross

TITLE
Independent Director
COMPENSATION
$220K
AGE
60
TENURE
13.1 yrs

Connie Duckworth

TITLE
Independent Director
COMPENSATION
$210K
AGE
63
TENURE
9.1 yrs

Larry Blanford

TITLE
Independent Director
COMPENSATION
$220K
AGE
64
TENURE
6.6 yrs

Tim Brown

TITLE
Director
COMPENSATION
$208K
AGE
55
TENURE
2.3 yrs

P. Welch

TITLE
Independent Director
COMPENSATION
$200K
AGE
73
TENURE
40.3 yrs

Peter Wege

TITLE
Independent Director
COMPENSATION
$203K
AGE
69
TENURE
40.3 yrs

David Joos

TITLE
Independent Director
COMPENSATION
$205K
AGE
65
TENURE
18.3 yrs

Kate Wolters

TITLE
Independent Director
COMPENSATION
$200K
AGE
60
TENURE
18.3 yrs
Who owns this company?
Recent Insider Trading
  • Steelcase insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
29. Mar 19 Sell Jennifer Niemann Individual 29. Mar 19 29. Mar 19 -1,832 €13.09 €-23,977
27. Mar 19 Sell Sara Armbruster Individual 26. Mar 19 26. Mar 19 -7,500 €13.29 €-99,664
07. Jan 19 Sell Peter Wege Individual 04. Jan 19 04. Jan 19 -13,741 €13.62 €-187,171
11. Oct 18 Sell Robert Pew Individual 10. Oct 18 10. Oct 18 -16,291 €15.18 €-247,358
01. Oct 18 Sell James Ludwig Individual 28. Sep 18 28. Sep 18 -7,500 €15.97 €-119,788
01. Oct 18 Sell Sara Armbruster Individual 28. Sep 18 28. Sep 18 -8,500 €15.92 €-135,345
28. Sep 18 Sell Lizbeth O'Shaughnessy Individual 27. Sep 18 27. Sep 18 -20,000 €15.95 €-318,923
26. Sep 18 Sell Allan Smith Individual 25. Sep 18 25. Sep 18 -14,000 €15.75 €-220,496
26. Sep 18 Sell James Ludwig Individual 26. Sep 18 26. Sep 18 -1,992 €15.45 €-30,777
26. Sep 18 Sell Guillaume Alvarez Individual 25. Sep 18 25. Sep 18 -8,300 €16.04 €-133,163
09. Jul 18 Sell Jennifer Niemann Individual 06. Jul 18 06. Jul 18 -3,400 €12.05 €-40,969
27. Jun 18 Sell Sara Armbruster Individual 26. Jun 18 26. Jun 18 -10,000 €11.78 €-117,824
27. Apr 18 Sell Sara Armbruster Individual 25. Apr 18 26. Apr 18 -8,000 €11.48 €-90,591
X
Management checks
We assess Steelcase's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Steelcase has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

GJB News

Simply Wall St News

GJB Company Info

Description

Steelcase Inc. manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. It operates through Americas, EMEA, and Other Category segments. The company’s furniture portfolio includes panel, fence and beam-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as complementary products, including worktools. Its seating products comprise ergonomic task chairs; seating for collaborative or casual settings; and specialty seating for specific vertical markets, such as healthcare and education. The company’s interior architectural products include full and partial height walls and architectural pods. It also provides textiles, wall coverings, and surface imaging solutions for architects and designers; and ceramic steel surfaces for use in various applications, including static whiteboards and chalkboards through third party fabricators and distributors, as well as workplace strategy consulting, data-driven space measurement, lease origination, furniture and asset management, and hosted event services. The company markets and sells its products to corporate, government, healthcare, education, and retail customers under the Steelcase, Coalesse, Turnstone, Smith System, AMQ, Orangebox, Designtex, and PolyVision brands. It distributes its products and services through a network of independent and company-owned dealers, as well as directly to end-use customers. The company was founded in 1912 and is headquartered in Grand Rapids, Michigan.

Details
Name: Steelcase Inc.
GJB
Exchange: DB
Founded: 1912
$1,769,448,059
117,313,755
Website: http://www.steelcase.com
Address: Steelcase Inc.
901 44th Street SE,
Grand Rapids,
Michigan, 49508,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE SCS Class A Common Stock New York Stock Exchange US USD 18. Feb 1998
DB GJB Class A Common Stock Deutsche Boerse AG DE EUR 18. Feb 1998
Number of employees
Current staff
Staff numbers
12,700
Steelcase employees.
Industry
Office Services and Supplies
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/25 21:44
End of day share price update: 2019/04/25 00:00
Last estimates confirmation: 2019/04/03
Last earnings filing: 2019/04/12
Last earnings reported: 2019/02/22
Last annual earnings reported: 2019/02/22


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.