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Axfood

DB:AXL1
Snowflake Description

Excellent balance sheet with solid track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AXL1
DB
SEK36B
Market Cap
  1. Home
  2. DE
  3. Consumer Retailing
Company description

Axfood AB (publ) engages in the food retail and wholesale businesses in Sweden. The last earnings update was 52 days ago. More info.


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AXL1 Share Price and Events
7 Day Returns
-1.6%
DB:AXL1
0.3%
Europe Consumer Retailing
1.8%
DE Market
1 Year Returns
16.5%
DB:AXL1
1.5%
Europe Consumer Retailing
-6%
DE Market
AXL1 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Axfood (AXL1) -1.6% 2% 5.3% 16.5% - -
Europe Consumer Retailing 0.3% -0.6% 2.2% 1.5% -4.6% -7.6%
DE Market 1.8% 4.6% 7.4% -6% 10.1% 15.3%
1 Year Return vs Industry and Market
  • AXL1 outperformed the Consumer Retailing industry which returned 1.5% over the past year.
  • AXL1 outperformed the Market in Germany which returned -6% over the past year.
Price Volatility
AXL1
Industry
5yr Volatility vs Market
Related Companies

AXL1 Value

 Is Axfood 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 Axfood 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 Axfood.

DB:AXL1 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%
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:AXL1
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Consumer Retailing Unlevered Beta Simply Wall St/ S&P Global 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.465 (1 + (1- 22%) (0.31%))
0.642
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 * 5.96%)
5%

Discounted Cash Flow Calculation for DB:AXL1 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Axfood 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:AXL1 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SEK, Millions) Source Present Value
Discounted (@ 5%)
2019 900.50 Analyst x2 857.65
2020 1,076.50 Analyst x2 976.49
2021 1,124.00 Analyst x2 971.06
2022 980.54 Est @ -12.76% 806.81
2023 893.60 Est @ -8.87% 700.29
2024 838.75 Est @ -6.14% 626.03
2025 803.29 Est @ -4.23% 571.04
2026 780.07 Est @ -2.89% 528.14
2027 764.81 Est @ -1.96% 493.17
2028 754.87 Est @ -1.3% 463.60
Present value of next 10 years cash flows SEK6,994.30
DB:AXL1 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SEK754.87 × (1 + 0.23%) ÷ (5% – 0.23%)
SEK15,868.00
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SEK15,868.00 ÷ (1 + 5%)10
SEK9,745.29
DB:AXL1 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SEK6,994.30 + SEK9,745.29
SEK16,739.59
Equity Value per Share
(SEK)
= Total value / Shares Outstanding
= SEK16,739.59 / 209.49
SEK79.9
DB:AXL1 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:AXL1 represents 0.09374x of OM:AXFO
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.09374x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (SEK) x Listing Adjustment Factor
= SEK 79.90 x 0.09374
€7.49
Value per share (EUR) From above. €7.49
Current discount Discount to share price of €16.17
= -1 x (€16.17 - €7.49) / €7.49
-115.9%

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

  • The current share price of Axfood is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Axfood's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Axfood's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:AXL1 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in SEK SEK7.41
OM:AXFO Share Price ** OM (2019-04-18) in SEK SEK172.5
Europe Consumer Retailing Industry PE Ratio Median Figure of 32 Publicly-Listed Consumer Retailing Companies 19.38x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.59x

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

** Primary Listing of Axfood.

DB:AXL1 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OM:AXFO Share Price ÷ EPS (both in SEK)

= 172.5 ÷ 7.41

23.28x

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

  • Axfood is overvalued based on earnings compared to the Europe Consumer Retailing industry average.
  • Axfood is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Axfood's expected growth come at a high price?
Raw Data
DB:AXL1 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.28x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
0.7%per year
Europe Consumer Retailing Industry PEG Ratio Median Figure of 24 Publicly-Listed Consumer Retailing Companies 1.71x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

DB:AXL1 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 23.28x ÷ 0.7%

32.41x

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

  • Axfood is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Axfood's assets?
Raw Data
DB:AXL1 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in SEK SEK20.54
OM:AXFO Share Price * OM (2019-04-18) in SEK SEK172.5
Europe Consumer Retailing Industry PB Ratio Median Figure of 41 Publicly-Listed Consumer Retailing Companies 1.58x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.84x
DB:AXL1 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OM:AXFO Share Price ÷ Book Value per Share (both in SEK)

= 172.5 ÷ 20.54

8.4x

* Primary Listing of Axfood.

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

  • Axfood is overvalued based on assets compared to the Europe Consumer Retailing industry average.
X
Value checks
We assess Axfood'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 Consumer Retailing 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 Consumer Retailing industry average (and greater than 0)? (1 check)
  5. Axfood has a total score of 0/6, 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.

AXL1 Future Performance

 How is Axfood 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
0.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Axfood expected to grow at an attractive rate?
  • Axfood's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Axfood's earnings growth is positive but not above the Germany market average.
  • Axfood's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:AXL1 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:AXL1 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 0.7%
DB:AXL1 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 3.1%
Europe Consumer Retailing Industry Earnings Growth Rate Market Cap Weighted Average 12%
Europe Consumer Retailing Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
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:AXL1 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:AXL1 Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 52,826 2,942 1,589 3
2020-12-31 51,542 2,425 1,580 3
2019-12-31 50,059 2,422 1,578 3
DB:AXL1 Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2018-12-31 48,085 2,702 1,553
2018-09-30 47,541 2,716 1,537
2018-06-30 47,069 2,571 1,535
2018-03-31 46,773 3,138 1,492
2017-12-31 45,968 2,534 1,463
2017-09-30 45,258 2,374 1,463
2017-06-30 44,533 2,311 1,461
2017-03-31 43,599 1,875 1,466
2016-12-31 43,355 2,241 1,473
2016-09-30 43,030 2,271 1,507
2016-06-30 42,589 2,385 1,471
2016-03-31 42,076 2,381 1,421

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Axfood's earnings are expected to grow by 0.7% yearly, however this is not considered high growth (20% yearly).
  • Axfood's revenue is expected to grow by 3.1% 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:AXL1 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Axfood Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:AXL1 Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 7.58 8.20 7.18 3.00
2020-12-31 7.53 7.98 7.25 3.00
2019-12-31 7.52 7.76 7.36 3.00
DB:AXL1 Past Financials Data
Date (Data in SEK Millions) EPS *
2018-12-31 7.41
2018-09-30 7.33
2018-06-30 7.32
2018-03-31 7.11
2017-12-31 6.98
2017-09-30 6.97
2017-06-30 6.96
2017-03-31 6.99
2016-12-31 7.02
2016-09-30 7.18
2016-06-30 7.01
2016-03-31 6.77

*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.
  • Axfood is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Axfood'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Axfood 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.

AXL1 Past Performance

  How has Axfood 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 Axfood's growth in the last year to its industry (Consumer Retailing).
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.
  • Axfood's year on year earnings growth rate has been positive over the past 5 years.
  • Axfood's 1-year earnings growth is less than its 5-year average (6.2% vs 9%)
  • Axfood's earnings growth has exceeded the Europe Consumer Retailing industry average in the past year (6.2% vs -4.5%).
Earnings and Revenue History
Axfood'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 Axfood Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:AXL1 Past Revenue, Cash Flow and Net Income Data
Date (Data in SEK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 48,085.00 1,553.00 5,618.00
2018-09-30 47,541.00 1,537.00 5,543.70
2018-06-30 47,069.00 1,535.00 5,450.70
2018-03-31 46,773.00 1,492.00 5,362.70
2017-12-31 45,968.00 1,463.00 5,249.00
2017-09-30 45,258.00 1,463.00 5,058.00
2017-06-30 44,533.00 1,461.00 4,918.00
2017-03-31 43,599.00 1,466.00 4,796.00
2016-12-31 43,355.00 1,473.00 4,729.00
2016-09-30 43,030.00 1,507.00 4,643.00
2016-06-30 42,589.00 1,471.00 4,627.00
2016-03-31 42,076.00 1,421.00 4,581.00
2015-12-31 41,247.00 1,361.00 4,497.00
2015-09-30 40,434.00 1,294.00 4,407.00
2015-06-30 39,778.00 1,212.00 4,361.00
2015-03-31 39,104.00 1,164.00 4,267.00
2014-12-31 38,484.00 1,095.00 4,217.00
2014-09-30 38,056.00 1,075.00 4,149.00
2014-06-30 37,765.00 1,021.00 4,139.00
2014-03-31 37,518.00 981.00 4,153.00
2013-12-31 37,522.00 987.00 4,158.00
2013-09-30 37,224.00 963.00 4,086.00
2013-06-30 36,803.00 934.00 4,019.00
2013-03-31 36,538.00 916.00 3,960.00
2012-12-31 36,306.00 902.00 3,953.00
2012-09-30 35,968.00 898.00 3,956.00
2012-06-30 35,659.00 900.00 3,965.00

*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.
  • Axfood has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Axfood used its assets more efficiently than the Europe Consumer Retailing industry average last year based on Return on Assets.
  • Axfood has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Axfood'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 Consumer Retailing 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.
Axfood has a total score of 5/6, 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.

AXL1 Health

 How is Axfood'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 Axfood's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Axfood is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Axfood's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Axfood'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 56.9x 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 Axfood Company Filings, last reported 3 months ago.

DB:AXL1 Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 4,528.00 113.00 1,571.00
2018-09-30 4,206.00 526.00 1,083.00
2018-06-30 3,727.00 531.00 513.00
2018-03-31 3,346.00 700.00 555.00
2017-12-31 4,478.00 110.00 1,376.00
2017-09-30 4,169.00 530.00 835.00
2017-06-30 3,515.00 653.00 364.00
2017-03-31 3,176.00 1,017.00 284.00
2016-12-31 4,118.00 80.00 1,726.00
2016-09-30 3,791.00 520.00 1,262.00
2016-06-30 3,332.00 518.00 813.00
2016-03-31 2,953.00 507.00 326.00
2015-12-31 4,531.00 76.00 1,933.00
2015-09-30 4,174.00 530.00 1,436.00
2015-06-30 3,747.00 529.00 936.00
2015-03-31 3,410.00 535.00 531.00
2014-12-31 4,065.00 137.00 1,109.00
2014-09-30 3,814.00 566.00 524.00
2014-06-30 3,473.00 664.00 224.00
2014-03-31 3,194.00 803.00 192.00
2013-12-31 3,802.00 125.00 457.00
2013-09-30 3,525.00 557.00 205.00
2013-06-30 3,236.00 883.00 393.00
2013-03-31 2,990.00 1,144.00 510.00
2012-12-31 3,426.00 429.00 521.00
2012-09-30 3,275.00 956.00 387.00
2012-06-30 3,009.00 1,185.00 316.00
  • Axfood's level of debt (2.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (3.5% vs 2.5% today).
  • Debt is well covered by operating cash flow (2391.2%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on Axfood's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Axfood'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. Axfood has a total score of 5/6, 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.

AXL1 Dividends

 What is Axfood'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
4.06%
Current annual income from Axfood dividends. Estimated to be 4.06% next year.
If you bought €2,000 of Axfood shares you are expected to receive €81 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?
  • Axfood's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • Axfood's dividend is above the markets top 25% of dividend payers in Germany (3.71%).
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:AXL1 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
Europe Consumer Retailing Industry Average Dividend Yield Market Cap Weighted Average of 34 Stocks 3.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 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:AXL1 Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 7.00 3.00
2020-12-31 7.00 3.00
2019-12-31 7.00 3.00
DB:AXL1 Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2019-02-15 7.000 4.062
2018-02-08 7.000 4.345
2017-02-09 6.000 4.143
2016-03-16 5.000 3.385
2015-02-11 4.250 3.093
2014-02-05 3.750 3.946
2013-02-07 3.000 4.050
2012-03-14 3.000 5.010
2011-02-09 3.000 5.081
2010-02-23 2.500 4.536
2010-01-15 2.500 4.568
2009-04-22 2.000 4.244

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 Axfood's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess Axfood'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 Axfood afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Axfood has a total score of 4/6, see the detailed checks below.


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

AXL1 Management

 What is the CEO of Axfood'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
Klas Balkow
AGE 53
TENURE AS CEO 2.1 years
CEO Bio

Mr. Klas Balkow has been Chief Executive Officer and President at Axfood AB since March 2017. Mr. Balkow served as Advisor of Clas Ohlson AB (publ) until March 16, 2017. Mr. Balkow served as the Chief Executive Officer and President of Clas Ohlson AB (publ) since September 8, 2007. He served as Sales and Marketing Manager of Bredbandsbolaget AB (B2). He served as the Managing Director/Chief Executive Officer of the Axel Johnson Group, where he was responsible for AxImage, a business area that comprises several store chains and the agency for Fujifilm in both Sweden and Norway. He held executive positions with Procter & Gamble in the Nordic region and the USA. Mr. Balkow serves as a Member of the Board of Fujifilm Sverige AB and Svensk Handel. He served as a Director of Clas Ohlson AB since 2007 until September 17, 2016. He holds Secondary School Engineering Degree.

CEO Compensation
  • Insufficient data for Klas to compare compensation growth.
  • Insufficient data for Klas to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

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

1.7
Average Tenure
54
Average Age
  • The average tenure for the Axfood management team is less than 2 years, this suggests a new team.
Management Team

Klas Balkow

TITLE
President & CEO
AGE
53
TENURE
2.1 yrs

Anders Lexmon

TITLE
Chief Financial Officer
AGE
50
TENURE
1.7 yrs

Cecilia Ketels

TITLE
Head of Investor Relations
TENURE
4.3 yrs

Sandra Brånstad

TITLE
General Counsel & Company secretary

Sara Westrell

TITLE
Head of Corporate Communications
AGE
44
TENURE
1.3 yrs

Monica Längbo

TITLE
Head of Human Resources
AGE
55
TENURE
0.2 yrs

Lars-Åke Johansson

TITLE
Head of Structure & Establishment

Bengt Andersson

TITLE
Head of Retail Trade Development

Jan Lindmark

TITLE
Head of Information Technology
AGE
59

Åsa Domeij

TITLE
Head of Environment & Social Responsibility
AGE
56
Board of Directors Tenure

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

3.1
Average Tenure
51
Average Age
  • The tenure for the Axfood board of directors is about average.
Board of Directors

Mia Livfors

TITLE
Chairman of the Board
COMPENSATION
SEK675K
AGE
53
TENURE
3.1 yrs

Lars Olofsson

TITLE
Vice Chairman
COMPENSATION
SEK515K
AGE
67
TENURE
5.3 yrs

Caroline Berg

TITLE
Non-Independent Director
COMPENSATION
SEK421K
AGE
50
TENURE
5.3 yrs

Lars Östberg

TITLE
Employee Representative Director
AGE
50
TENURE
3.1 yrs

Michael Sjörén

TITLE
Employee Representative Director
AGE
58
TENURE
8.5 yrs

Fabian Bengtsson

TITLE
Independent Director
COMPENSATION
SEK421K
AGE
46
TENURE
3.1 yrs

Anders Helsing

TITLE
Employee Representative Director
AGE
52
TENURE
3.1 yrs

Christer Åberg

TITLE
Director
COMPENSATION
SEK421K
AGE
52
TENURE
2.3 yrs

Jesper Lien

TITLE
Director
COMPENSATION
SEK319K
AGE
49
TENURE
1.1 yrs

Stina Andersson

TITLE
Director
COMPENSATION
SEK319K
AGE
35
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
11. May 18 Buy Eva Pettersson Individual 11. May 18 11. May 18 850 €15.86 €13,483
X
Management checks
We assess Axfood'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. Axfood 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.

AXL1 News

Simply Wall St News

AXL1 Company Info

Description

Axfood AB (publ) engages in the food retail and wholesale businesses in Sweden. It operates through Willys, Hemköp, Dagab, and Axfood Snabbgross segments. The company operates its retail business through Willys, Hemköp, and Eurocash chains; and the online store Mat.se. Axfood AB (publ) is also involved in the e-commerce business; and provision of private label products. It serves restaurants, foodservice operators, and cafés; and retailer-owned stores, mini-marts, service stations, and other convenience retailers. The company operates 187 Hemköp stores; and 200 stores, which include 49 Willys Hemma stores and 151 Willys stores. It also operates cold storage warehouses; distribution centers; and 24 Snabbgross stores. The company was founded in 2000 and is based in Stockholm, Sweden. Axfood AB (publ) is a subsidiary of Axel Johnson AB.

Details
Name: Axfood AB (publ)
AXL1
Exchange: DB
Founded: 2000
SEK3,456,615,086
209,494,712
Website: http://www.axfood.se
Address: Axfood AB (publ)
Norra stationsgatan 80 C,
Stockholm,
107 69,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM AXFO Share Capital OMX Nordic Exchange Stockholm SE SEK 29. Feb 2000
OTCPK AXFO.F Share Capital Pink Sheets LLC US USD 29. Feb 2000
DB AXL1 Share Capital Deutsche Boerse AG DE EUR 29. Feb 2000
LSE 0R6R Share Capital London Stock Exchange GB SEK 29. Feb 2000
BATS-CHIXE AXFOS Share Capital BATS 'Chi-X Europe' GB SEK 29. Feb 2000
OTCPK AXFO.Y ADR Pink Sheets LLC US USD 12. Dec 2008
Number of employees
Current staff
Staff numbers
9,625
Axfood employees.
Industry
Food Retail
Consumer Retailing
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/21 21:41
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/16
Last earnings filing: 2019/02/28
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.