DB:AO1B

Stock Analysis Report

Executive Summary

Accell Group N.V., together with its subsidiaries, designs, develops, produces, markets, and sells bicycles, and bicycle parts and accessories.

Snowflake

Fundamentals

Good value with moderate growth potential.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0.7%

AO1B

0.1%

DE Leisure

2.4%

DE Market


1 Year Return

35.2%

AO1B

15.8%

DE Leisure

2.3%

DE Market

Return vs Industry: AO1B exceeded the German Leisure industry which returned 15.8% over the past year.

Return vs Market: AO1B exceeded the German Market which returned 2.3% over the past year.


Shareholder returns

AO1BIndustryMarket
7 Day0.7%0.1%2.4%
30 Day-4.1%-2.3%-0.2%
90 Day-9.8%-3.5%0.6%
1 Year37.9%35.2%18.3%15.8%5.5%2.3%
3 Year5.5%-1.5%62.9%50.7%18.9%8.6%
5 Year115.8%87.1%120.8%96.7%44.8%25.1%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

43.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: AO1B (€22.2) is trading below our estimate of fair value (€39.13)

Significantly Undervalued: AO1B is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: AO1B is poor value based on its PE Ratio (23.8x) compared to the Leisure industry average (17.7x).

PE vs Market: AO1B is poor value based on its PE Ratio (23.8x) compared to the German market (19.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: AO1B is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: AO1B is good value based on its PB Ratio (1.7x) compared to the XE Leisure industry average (2x).


Next Steps

Future Growth

How is Accell Group forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

32.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AO1B's forecast earnings growth (32.1% per year) is above the savings rate (0.2%).

Earnings vs Market: AO1B's earnings (32.1% per year) are forecast to grow faster than the German market (12.6% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: AO1B's revenue (3% per year) is forecast to grow slower than the German market (5% per year).

High Growth Revenue: AO1B's revenue (3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if AO1B's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Accell Group performed over the past 5 years?

-11.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: AO1B's earnings have declined by -11.3% per year over the past 5 years.

Accelerating Growth: AO1B's earnings growth over the past year (151.7%) exceeds its 5-year average (-11.3% per year).

Earnings vs Industry: AO1B earnings growth over the past year (151.7%) exceeded the Leisure industry 11%.


Return on Equity

High ROE: AO1B's Return on Equity (7.2%) is considered low.


Return on Assets

ROA vs Industry: AO1B's Return on Assets is below or equal to the Leisure industry average last year.


Return on Capital Employed

ROCE Improving: AO1B's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Accell Group's financial position?


Financial Position Analysis

Short Term Liabilities: AO1B's short term assets (€623.8M) exceeds its short term liabilities (€426.9M)

Long Term Liabilities: AO1B's short term assets (623.8M) exceeds its long term liabilities (126.3M)


Debt to Equity History and Analysis

Debt Level: AO1B's debt to equity ratio (69.9%) is considered high

Reducing Debt: AO1B's debt to equity ratio has increased from 56.4% to 69.9% over the past 5 years.

Debt Coverage: AO1B's debt is not well covered by operating cash flow (9.7%).

Interest Coverage: AO1B's interest payments on its debt are well covered by EBIT (6.1x coverage).


Balance Sheet

Inventory Level: AO1B has a high level of physical assets or inventory.

Debt Coverage by Assets: AO1B's debt is covered by short term assets (assets are 2.620920x debt).


Next Steps

Dividend

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

2.29%

Current Dividend Yield


Dividend Yield vs Market

company2.3%marketbottom25%1.4%markettop25%3.9%industryaverage3.0%forecastin3Years3.2%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: AO1B's dividend (2.29%) is higher than the bottom 25% of dividend payers in the German market (1.43%).

High Dividend: AO1B's dividend (2.29%) is low compared to the top 25% of dividend payers in the German market (3.86%).

Stable Dividend: AO1B's dividend payments have been volatile in the past 10 years.

Growing Dividend: AO1B's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (54.4%), AO1B's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

1.8yrs

Average management tenure


CEO

Ton Anbeek (57yo)

1.9yrs

Tenure

€816,806

Compensation

Mr. A. H. Anbeek, also known as Ton, has been the Chairman and Chief Executive Officer of Accell Group N.V. since November 1, 2017. Mr. Anbeek served as Chief Executive Officer of Beter Bed Holding NV sinc ...


CEO Compensation Analysis

Compensation vs. Market: Ton has recently become CEO, making it difficult to compare their total compensation against companies of similar size in the German market.

Compensation vs Earnings: Ton's compensation has increased by more than 20% in the past year.


Management Age and Tenure

1.8yrs

Average Tenure

55yo

Average Age

Experienced Management: AO1B's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Age and Tenure

5.0yrs

Average Tenure

61yo

Average Age

Experienced Board: AO1B's board of directors are considered experienced (5 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


Management Team

  • Ton Anbeek (57yo)

    Chairman & CEO

    • Tenure: 1.9yrs
    • Compensation: €816.81k
  • Jeroen Both (55yo)

    Chief Supply Chain Officer & Director

    • Tenure: 4.7yrs
    • Compensation: €491.98k
  • Jeroen Hubert

    Chief Commercial Officer

    • Tenure: 1.6yrs
  • Ruben Baldew (42yo)

    CFO & Director

    • Tenure: 0.9yrs
    • Compensation: €422.08k

Board Members

  • Ab Pasman (69yo)

    Member of Supervisory Board

    • Tenure: 9.5yrs
  • Peter Ernsting (61yo)

    Member of Supervisory Board

    • Tenure: 8.5yrs
  • Danielle Heijtmajer (59yo)

    Member of Supervisory Board

    • Tenure: 1.5yrs
  • Gert van de Weerdhof (53yo)

    Vice-Chairman of Supervisory Board

    • Tenure: 0yrs
  • Rob Haar (69yo)

    Chairman of Supervisory Board

    • Tenure: 0.5yrs

Company Information

Accell Group N.V.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Accell Group N.V.
  • Ticker: AO1B
  • Exchange: DB
  • Founded:
  • Industry: Leisure Products
  • Sector: Consumer Durables
  • Market Cap: €585.640m
  • Shares outstanding: 26.80m
  • Website: https://www.accell-group.com

Number of Employees


Location

  • Accell Group N.V.
  • Industrieweg 4
  • Heerenveen
  • Friesland
  • 8444 AR
  • Netherlands

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ACCELENXTAM (Euronext Amsterdam)YesOrdinary SharesNLEURDec 2004
AO1BDB (Deutsche Boerse AG)YesOrdinary SharesDEEURDec 2004
0P4CLSE (London Stock Exchange)YesOrdinary SharesGBEURDec 2004
ACGP.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDDec 2004
ACCELABATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURDec 2004

Biography

Accell Group N.V., together with its subsidiaries, designs, develops, produces, markets, and sells bicycles, and bicycle parts and accessories. The company primarily offers electric, city, recreational, tr ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/15 20:45
End of Day Share Price2019/10/15 00:00
Earnings2019/06/30
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.