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Nobia AB (publ) develops, manufactures, and sells kitchen solutions to consumer and professional customers in Europe and internationally. The last earnings update was 12 days ago. More info.
7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
---|---|---|---|---|---|---|
Nobia (NI8) | 8% | 3.6% | 0.3% | - | - | - |
DE Consumer Durables | 1.5% | -3.1% | 9.8% | -20% | 7.2% | 8.2% |
DE Market | 2.9% | 0.8% | 0.2% | -12.1% | 11.8% | 4.9% |
Is Nobia undervalued based on future cash flows and its price relative to the stock market?
Below are the data sources, inputs and calculation used to determine the intrinsic value for Nobia.
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 | 8% |
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.
Data Point | Calculation/ Source | Result |
---|---|---|
Risk-Free Rate | 10-Year DE Govt Bond Rate | 0.2% |
Equity Risk Premium | S&P Global | 9.8% |
Consumer Durables Unlevered Beta | Simply Wall St/ S&P Global | 0.7 |
Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.695 (1 + (1- 22%) (10.12%)) |
0.75 |
Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.8 |
Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.8 * 9.77%) |
8.05% |
Discounted Cash Flow Calculation for DB:NI8 using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Nobia is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.
2019 | 2020 | 2021 | 2022 | 2023 | |
Levered FCF (SEK, Millions) | 1,026.33 | 918.50 | 898.33 | 920.50 | 943.22 |
Source | Analyst x3 | Analyst x2 | Analyst x3 | Est @ 2.47% | Est @ 2.47% |
Present Value Discounted (@ 8.05%) |
949.91 | 786.80 | 712.22 | 675.46 | 640.58 |
Present value of next 5 years cash flows | SEK3,764.97 |
Calculation | Result | |
---|---|---|
Terminal Value |
= FCF2023
× (1 + g) ÷ (Discount Rate – g)
= SEK943.22 × (1 + 0.23%) ÷ (8.05% – 0.23%) |
SEK12,092.82 |
Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)5
= SEK12,092.82 ÷ (1 + 8.05%)5 |
SEK8,212.82 |
Calculation | Result | |
---|---|---|
Total Equity Value |
= Present value of next 5 years cash flows +
Terminal Value
= SEK3,764.97 + SEK8,212.82 |
SEK11,977.79 |
Equity Value per Share (SEK) |
= Total value / Shares Outstanding
= SEK11,977.79 / 168.69 |
SEK6.74 |
Calculation | Result | |
---|---|---|
Non-primary Listing Adjustment Factor |
1 share in DB:NI8
represents 0.09486x
of
OM:NOBI
(This could be a different class, a depositary receipt, a different currency, or all of these things.) |
0.09486x |
Value per Share (Listing Adjusted, EUR) |
= Value per Share (SEK) x Listing Adjustment Factor
= SEK 71.01 x 0.09486 |
€6.74 |
Value per share (EUR) | From above. | €6.74 |
Current discount | Discount to share price of
€5.13
= -1 x (€5.13 - €6.74) / €6.74 |
23.8% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Data Point | Source | Value |
---|---|---|
Earnings Per Share * | Company Filings (2018-12-31) in SEK | SEK4.46 |
OM:NOBI Share Price ** | OM (2019-02-18) in SEK | SEK54.1 |
Germany Consumer Durables Industry PE Ratio | Median Figure of 7 Publicly-Listed Consumer Durables Companies | 9.73x |
Germany Market PE Ratio | Median Figure of 420 Publicly-Listed Companies | 18.16x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Nobia.
Calculation | Outcome | |
---|---|---|
PE Ratio | = OM:NOBI Share Price ÷ EPS (both in SEK) = 54.1 ÷ 4.46 |
12.12x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Data Point | Source | Value |
---|---|---|
PE Ratio | See PE Ratio Section | 12.12x |
Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts |
9.7%per year |
Europe Consumer Durables Industry PEG Ratio | Median Figure of 58 Publicly-Listed Consumer Durables Companies | 1.26x |
Germany Market PEG Ratio | Median Figure of 277 Publicly-Listed Companies | 1.39x |
*Line of best fit is calculated by linear regression .
Calculation | Outcome | |
---|---|---|
PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 12.12x ÷ 9.7% |
1.25x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Data Point | Source | Value |
---|---|---|
Book Value per Share | Company Filings (2018-12-31) in SEK | SEK23.10 |
OM:NOBI Share Price * | OM (2019-02-18) in SEK | SEK54.1 |
Germany Consumer Durables Industry PB Ratio | Median Figure of 9 Publicly-Listed Consumer Durables Companies | 1.44x |
Germany Market PB Ratio | Median Figure of 566 Publicly-Listed Companies | 1.79x |
Calculation | Outcome | |
---|---|---|
PB Ratio | = OM:NOBI Share Price ÷ Book Value per Share (both in SEK) = 54.1 ÷ 23.10 |
2.34x |
* Primary Listing of Nobia.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
How is Nobia expected to perform in the next 1 to 3 years based on estimates from 3 analysts?
Data Point | Source | Value (per year) |
---|---|---|
DB:NI8 Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts | 9.7% |
DB:NI8 Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts | 1.5% |
Germany Consumer Durables Industry Earnings Growth Rate | Market Cap Weighted Average | 17.5% |
Germany Consumer Durables Industry Revenue Growth Rate | Market Cap Weighted Average | 3.3% |
Germany Market Earnings Growth Rate | Market Cap Weighted Average | 9.7% |
Germany Market Revenue Growth Rate | Market Cap Weighted Average | 4.7% |
*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.
Data Point | Source | Value |
---|---|---|
Past Financials | Company Filings (1 month ago) | See Below |
Future Estimates | Average of up to 3 Analyst Estimates (S&P Global) | See Below |
Date (Data in SEK Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
---|---|---|---|---|
2021-12-31 | 13,860 | 1,326 | 1,043 | 3 |
2020-12-31 | 13,634 | 1,267 | 987 | 3 |
2019-12-31 | 13,537 | 1,418 | 951 | 3 |
Date (Data in SEK Millions) | Revenue | Cash Flow | Net Income * |
---|---|---|---|
2018-12-31 | 13,209 | 1,001 | 753 |
2018-09-30 | 12,935 | 991 | 922 |
2018-06-30 | 12,697 | 967 | 964 |
2018-03-31 | 12,602 | 966 | 982 |
2017-12-31 | 12,744 | 987 | 994 |
2017-09-30 | 12,783 | 1,263 | 1,001 |
2017-06-30 | 12,877 | 1,276 | 1,009 |
2017-03-31 | 12,872 | 1,310 | 1,002 |
2016-12-31 | 12,648 | 1,281 | 979 |
2016-09-30 | 11,729 | 1,119 | 910 |
2016-06-30 | 11,934 | 1,174 | 913 |
2016-03-31 | 12,106 | 1,146 | 901 |
*GAAP earnings excluding extraordinary items.
Data Point | Source | Value |
---|---|---|
Past Financials | Company Filings (1 month ago) | See Below |
Future Estimates | Average of up to 3 Analyst Estimates (S&P Global) | See Below |
All data from Nobia Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
Date (Data in SEK Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
---|---|---|---|---|
2021-12-31 | 6.18 | 6.81 | 5.85 | 3.00 |
2020-12-31 | 5.85 | 6.30 | 5.47 | 3.00 |
2019-12-31 | 5.63 | 5.94 | 5.36 | 3.00 |
Date (Data in SEK Millions) | EPS * |
---|---|
2018-12-31 | 4.46 |
2018-09-30 | 5.47 |
2018-06-30 | 5.72 |
2018-03-31 | 5.83 |
2017-12-31 | 5.90 |
2017-09-30 | 5.94 |
2017-06-30 | 5.99 |
2017-03-31 | 5.95 |
2016-12-31 | 5.81 |
2016-09-30 | 5.40 |
2016-06-30 | 5.42 |
2016-03-31 | 5.36 |
*GAAP earnings excluding extraordinary items.
How has Nobia performed over the past 5 years?
All data from Nobia Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
Date (Data in SEK Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
---|---|---|---|---|
2018-12-31 | 13,209.00 | 753.00 | 4,059.00 | |
2018-09-30 | 12,935.00 | 922.00 | 3,924.00 | |
2018-06-30 | 12,697.00 | 964.00 | 3,847.00 | |
2018-03-31 | 12,602.00 | 982.00 | 3,777.00 | |
2017-12-31 | 12,744.00 | 994.00 | 3,783.00 | |
2017-09-30 | 12,783.00 | 1,001.00 | 3,745.00 | |
2017-06-30 | 12,877.00 | 1,009.00 | 3,753.00 | |
2017-03-31 | 12,872.00 | 1,002.00 | 3,760.00 | |
2016-12-31 | 12,648.00 | 979.00 | 3,716.00 | |
2016-09-30 | 11,729.00 | 910.00 | 3,432.00 | |
2016-06-30 | 11,934.00 | 913.00 | 3,557.00 | |
2016-03-31 | 12,106.00 | 901.00 | 3,678.00 | |
2015-12-31 | 12,266.00 | 870.00 | 3,795.00 | |
2015-09-30 | 13,044.00 | 795.00 | 4,147.00 | |
2015-06-30 | 12,535.00 | 728.00 | 4,053.00 | |
2015-03-31 | 11,967.00 | 646.00 | 3,920.00 | |
2014-12-31 | 11,411.00 | 594.00 | 3,768.00 | |
2014-09-30 | 11,306.00 | 603.00 | 3,821.00 | |
2014-06-30 | 11,409.00 | 511.00 | 3,911.00 | |
2014-03-31 | 11,664.00 | 438.00 | 4,078.00 | |
2013-12-31 | 11,773.00 | 366.00 | 4,191.00 | |
2013-09-30 | 11,961.00 | -411.00 | 4,265.00 | |
2013-06-30 | 12,026.00 | -436.00 | 4,311.00 | |
2013-03-31 | 12,213.00 | -491.00 | 4,384.00 | |
2012-12-31 | 12,343.00 | -526.00 | 4,461.00 | |
2012-09-30 | 12,485.00 | 69.00 | 4,540.00 | |
2012-06-30 | 12,731.00 | -7.00 | 4,601.00 | |
2012-03-31 | 12,841.00 | 48.00 | 4,605.00 |
*GAAP earnings excluding extraordinary items.
How is Nobia's financial health and their level of debt?
All data from Nobia Company Filings, last reported 1 month ago.
Date (Data in SEK Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
---|---|---|---|
2018-12-31 | 3,897.00 | 924.00 | 128.00 |
2018-09-30 | 3,954.00 | 1,023.00 | 145.00 |
2018-06-30 | 3,873.00 | 529.00 | 52.00 |
2018-03-31 | 4,605.00 | 7.00 | 536.00 |
2017-12-31 | 4,154.00 | 6.00 | 473.00 |
2017-09-30 | 3,647.00 | 6.00 | 264.00 |
2017-06-30 | 3,403.00 | 51.00 | 138.00 |
2017-03-31 | 3,600.00 | 809.00 | 1,243.00 |
2016-12-31 | 3,419.00 | 807.00 | 1,005.00 |
2016-09-30 | 3,549.00 | 811.00 | 812.00 |
2016-06-30 | 3,552.00 | 817.00 | 616.00 |
2016-03-31 | 3,814.00 | 819.00 | 804.00 |
2015-12-31 | 3,822.00 | 815.00 | 765.00 |
2015-09-30 | 3,733.00 | 813.00 | 863.00 |
2015-06-30 | 3,439.00 | 813.00 | 622.00 |
2015-03-31 | 3,293.00 | 815.00 | 723.00 |
2014-12-31 | 3,196.00 | 815.00 | 470.00 |
2014-09-30 | 3,021.00 | 810.00 | 546.00 |
2014-06-30 | 3,409.00 | 827.00 | 410.00 |
2014-03-31 | 3,198.00 | 807.00 | 348.00 |
2013-12-31 | 3,158.00 | 808.00 | 278.00 |
2013-09-30 | 2,844.00 | 845.00 | 149.00 |
2013-06-30 | 2,807.00 | 1,037.00 | 165.00 |
2013-03-31 | 2,500.00 | 1,118.00 | 140.00 |
2012-12-31 | 2,662.00 | 1,064.00 | 171.00 |
2012-09-30 | 3,525.00 | 1,136.00 | 165.00 |
2012-06-30 | 3,596.00 | 1,231.00 | 141.00 |
2012-03-31 | 3,481.00 | 1,473.00 | 209.00 |
What is Nobia's current dividend yield, its reliability and sustainability?
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 Consumer Durables Industry Average Dividend Yield | Market Cap Weighted Average of 5 Stocks | 3.3% |
Germany Market Average Dividend Yield | Market Cap Weighted Average of 332 Stocks | 3% |
Germany Minimum Threshold Dividend Yield | 10th Percentile | 0.9% |
Germany Bottom 25% Dividend Yield | 25th Percentile | 1.5% |
Germany Top 25% Dividend Yield | 75th Percentile | 4% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
Date (Data in SEK) | Dividend per Share (annual) | Avg. No. Analysts |
---|---|---|
2021-12-31 | 4.66 | 3.00 |
2020-12-31 | 4.73 | 3.00 |
2019-12-31 | 4.37 | 3.00 |
Date (Data in SEK) | Dividend per share (annual) | Avg. Yield (%) |
---|---|---|
2019-02-06 | 4.000 | 7.598 |
2018-03-20 | 3.500 | 5.633 |
2018-02-06 | 3.500 | 4.988 |
2017-04-06 | 3.000 | 3.823 |
2016-04-11 | 2.500 | 3.076 |
2015-02-13 | 1.750 | 1.926 |
2014-03-14 | 1.000 | 1.696 |
2013-02-13 | 0.500 | 1.091 |
2010-01-15 | 0.000 | 0.000 |
2009-10-23 | 0.000 | 0.000 |
2009-07-17 | 0.000 | 0.000 |
2009-04-24 | 0.000 | 0.000 |
2009-04-02 | 0.000 | 0.000 |
2009-02-19 | 2.500 | 13.741 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Mr. Morten Falkenberg, B.Econ, B.Sc., has been the Chief Executive Officer and President of Nobia AB (publ) (Nobia Group) at Poggenpohl Möbelwerke GmbH since August 2010. Mr. Falkenberg served as the Head of Floor Care & Small Appliances of Electrolux AB from 2006 to August 2010 and also served as its Executive Vice President from December 2006 to August 2010. He was with Electrolux since 1997 in various positions including managing director of Electrolux operations in ANDEAN, Mexico, Central America and Caribbean. Mr. Falkenberg served different sales/marketing positions in Carlsberg Group, from 1980 to 1987, a number of senior management positions with Coca-Cola Company, from 1987 to 2000 and Senior Vice President of Alliances/Partnerships for TDC Mobile, from 2001 to 2003. He joined Electrolux in 2003 as Head of Floor Care and Small Appliances Europe. Mr. Falkenberg serves as a Director at Velux Group and Fagerhult. He has been a Director of AB Fagerhult since May 03, 2017. Mr. Falkenberg has been a Director of Nobia AB since March 30, 2011. He holds a Masters degree in Economics and Management from the Stockholm School of Economics. He Completed B.Sc. in Business Administration.
Average tenure and age of the Nobia management team in years:
Average tenure and age of the Nobia board of directors in years:
Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (€) | Value (€) | |
---|---|---|---|---|---|---|---|---|---|---|
10. Feb 19 | Buy | Rune Stephansen | Individual | 08. Feb 19 | 08. Feb 19 | 10,000 | €4.85 | €48,495 | ||
08. Feb 19 | Buy | Morten Falkenberg | Individual | 08. Jan 19 | 08. Jan 19 | 3,784 | €4.92 | €18,609 | ||
28. Dec 18 | Buy | Morten Falkenberg | Individual | 28. Dec 18 | 28. Dec 18 | 3,893 | €4.72 | €18,374 | ||
04. Dec 18 | Buy | Morten Falkenberg | Individual | 03. Dec 18 | 03. Dec 18 | 3,503 | €5.41 | €18,947 | ||
05. Nov 18 | Buy | Morten Falkenberg | Individual | 05. Nov 18 | 05. Nov 18 | 3,166 | €5.80 | €18,374 | ||
29. Oct 18 | Buy | Morten Falkenberg | Individual | 29. Oct 18 | 29. Oct 18 | 3,415 | €5.26 | €17,976 | ||
10. Sep 18 | Buy | Morten Falkenberg | Individual | 10. Sep 18 | 10. Sep 18 | 11,000 | €6.07 | €66,740 | ||
24. Jul 18 | Buy | Kristoffer Ljungfelt | Individual | 24. Jul 18 | 24. Jul 18 | 1,500 | €6.53 | €9,795 | ||
08. May 18 | Buy | Rune Stephansen | Individual | 02. May 18 | 02. May 18 | 5,480 | €6.39 | €35,043 | ||
07. May 18 | Buy | Ole Dalsbø | Individual | 02. May 18 | 02. May 18 | 6,016 | €6.39 | €38,470 | ||
07. May 18 | Buy | Peter Kane | Individual | 02. May 18 | 02. May 18 | 11,600 | €6.39 | €74,178 | ||
07. May 18 | Buy | Christian Rösler | Individual | 02. May 18 | 02. May 18 | 4,836 | €6.39 | €30,925 | ||
04. May 18 | Buy | Morten Falkenberg | Individual | 02. May 18 | 02. May 18 | 8,905 | €6.39 | €56,944 | ||
03. May 18 | Buy | Kristoffer Ljungfelt | Individual | 02. May 18 | 02. May 18 | 1,884 | €6.39 | €12,048 | ||
03. May 18 | Buy | Thomas Myringer | Individual | 02. May 18 | 02. May 18 | 3,472 | €6.39 | €22,202 | ||
03. May 18 | Buy | Morten Falkenberg | Individual | 30. Apr 18 | 02. May 18 | 63,482 | €6.39 | €405,286 |
Nobia AB (publ) develops, manufactures, and sells kitchen solutions to consumer and professional customers in Europe and internationally. The company sells its products under various brands, including HTH, Marbodal, Sigdal, Invita, Norema, Petra, À la carte, uno form, Magnet, Commodore and CIE, Rixonway Kitchens, Gower, ewe, FM, and Intuo brands. The company sells its products through approximately 264 own stores; and a network of franchise stores and retailers, including furniture stores, builders’ merchants, DIY stores, and independent kitchen specialists. It also sells its products to professional construction companies. The company also exports its products. Nobia AB (publ) was founded in 1996 and is headquartered in Stockholm, Sweden.
Name: | Nobia AB (publ) |
NI8 | |
Exchange: | DB |
Founded: | 1996 |
SEK871,697,661 | |
168,686,890 | |
Website: | http://www.nobia.com |
Address: |
Nobia AB (publ) Klarabergsviadukten 70 A5, Po Box 70376, Stockholm, Stockholm County, 107 24, Sweden |
Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
---|---|---|---|---|---|---|---|
OM | NOBI | Ordinary Shares | OMX Nordic Exchange Stockholm | SE | SEK | 19. Jun 2002 | |
DB | NI8 | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 19. Jun 2002 | |
LSE | 0GW0 | Ordinary Shares | London Stock Exchange | GB | SEK | 19. Jun 2002 | |
BATS-CHIXE | NOBIS | Ordinary Shares | BATS 'Chi-X Europe' | GB | SEK | 19. Jun 2002 | |
OTCPK | NBIA.Y | ADR | Pink Sheets LLC | US | USD | 08. Dec 2008 |
Home Furnishings | |
Consumer Durables |
Area | Date (UTC time) |
---|---|
Company Analysis updated: | 2019/02/18 23:09 |
End of day share price update: | 2019/02/18 00:00 |
Last estimates confirmation: | 2019/02/11 |
Last earnings filing: | 2019/02/06 |
Last earnings reported: | 2018/12/31 |
Last annual earnings reported: | 2018/12/31 |
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.