DB:3AJ

Stock Analysis Report

Executive Summary

SkiStar AB (publ) owns and operates alpine ski resorts in Sweden, Norway, and Austria.

Snowflake

Fundamentals

Outstanding track record average dividend payer.

Risks

  • SkiStar is covered by less than 3 analysts.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

6.4%

DB:3AJ

0.1%

DE Hospitality

0.3%

DE Market


1 Year Return

n/a

DB:3AJ

-52.1%

DE Hospitality

-11.7%

DE Market

No trading data on 3AJ.

No trading data on 3AJ.


Share holder returns

3AJIndustryMarket
7 Day6.4%0.1%0.3%
30 Day11.2%-7.8%-2.8%
90 Day23.8%-10.1%-0.8%
1 Yearn/a-48.9%-52.1%-8.9%-11.7%
3 Yearn/a-17.5%-28.9%22.9%12.2%
5 Yearn/a-6.5%-25.1%23.2%6.1%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

17.88x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

SkiStar's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

SkiStar's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

SkiStar is good value based on earnings compared to the DE Hospitality industry average.

SkiStar is good value based on earnings compared to the Germany market.


Price Based on Expected Growth

SkiStar earnings are not expected to grow next year, we can't assess if its growth is good value.


Price Based on Value of Assets

SkiStar is overvalued based on assets compared to the DE Hospitality industry average.


Next Steps

Future Growth

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

-5.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

SkiStar's revenue is expected to grow by 1.6% yearly, however this is not considered high growth (20% yearly).

SkiStar's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.

SkiStar's revenue growth is positive but not above the Germany market average.

SkiStar's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.

SkiStar's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.


Earnings per Share Growth Estimates


Future Return on Equity

SkiStar is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has SkiStar performed over the past 5 years?

24.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

SkiStar has delivered over 20% year on year earnings growth in the past 5 years.

SkiStar's 1-year earnings growth exceeds its 5-year average (31.9% vs 24.2%)

SkiStar's earnings growth has exceeded the DE Hospitality industry average in the past year (31.9% vs -2.6%).


Return on Equity

SkiStar has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).


Return on Assets

SkiStar used its assets more efficiently than the DE Hospitality industry average last year based on Return on Assets.


Return on Capital Employed

SkiStar has improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is SkiStar's financial position?


Financial Position Analysis

SkiStar's short term (1 year) commitments are greater than its holdings of cash and other short term assets.

SkiStar's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

SkiStar's level of debt (45.1%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has been reduced over the past 5 years (111.3% vs 45.1% today).

Debt is well covered by operating cash flow (70.6%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 17.9x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.7x debt.


Next Steps

Dividend

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

3.03%

Expected Dividend Yield


Dividend Yield and Payments Analysis

SkiStar's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).

SkiStar's dividend is below the markets top 25% of dividend payers in Germany (3.91%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (2.1x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be covered by earnings (1.6x coverage).


Next Steps

Management

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

2.3yrs

Average board tenure


CEO

Mats Årjes (51yo)

17.4yrs

Tenure

Mr. Mats Årjes has been the Chief Executive Officer at SkiStar AB (publ) since 2002 Mr. Årjes served at Santaworld AB from 1992 to 1996, Mora Hotell AB from 1996 to 1998 and Skistar AB (publ) since 2002. M ...


Board Age and Tenure

2.3yrs

Average Tenure

50yo

Average Age

The average tenure for the SkiStar board of directors is less than 3 years, this suggests a new board.


Insider Trading

SkiStar insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Sell€6,967,76517 May 19
Mats Årjes
EntityIndividual
Role
CEO & Director
Member of the Board of Directors
Shares640,608
Max Price€10.88
Sell€98,09019 Oct 18
Per-Uno Sandberg
EntityIndividual
Shares8,228
Max Price€11.92
Sell€11,55105 Oct 18
Anders Lundqvist
EntityIndividual
Shares1,000
Max Price€11.55
Sell€1,067,58505 Oct 18
Per-Uno Sandberg
EntityIndividual
Shares90,440
Max Price€11.81
Sell€1,878,25921 Jun 18
Per-Uno Sandberg
EntityIndividual
Shares200,000
Max Price€9.39

Ownership Breakdown


Management Team

  • Mats Årjes (51yo)

    CEO & Director

    • Tenure: 17.4yrs
  • Mathias Lindström (46yo)

    Manager of Marketing & Sales

    • Tenure: 12.4yrs
  • Bo Halvardsson (63yo)

    Resort Manager of Norway

  • Åsa Linder (50yo)

    Secretary

  • Anders Örnulf (42yo)

    Chief Financial Officer

  • Sofie Arnell (32yo)

    Legal Counsel & Head of IR


Board Members

  • Mats Årjes (51yo)

    CEO & Director

    • Tenure: 16.4yrs
  • Sara Karlsson (49yo)

    Director

    • Tenure: 1.5yrs
    • Compensation: SEK220.00k
  • Fredrik Paulsson (46yo)

    Director

    • Tenure: 1.5yrs
    • Compensation: SEK245.00k
  • Lena Apler (67yo)

    Director

    • Tenure: 4.4yrs
    • Compensation: SEK180.00k
  • Eivor Andersson (57yo)

    Chairman of the Board

    • Compensation: SEK260.00k
  • Patrik Svard (48yo)

    Employee Representative Director

    • Tenure: 2.3yrs

Company Information

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


Key Information

  • Name: SkiStar AB (publ)
  • Ticker: 3AJ
  • Exchange: DB
  • Founded:
  • Industry: leisure facilities
  • Sector: consumer services
  • Market Cap: kr10.346b
  • Listing Market Cap: kr972.754m
  • Shares outstanding: 78.38m
  • Website: Click here

Number of Employees


Location

  • SkiStar AB (publ)
  • Sälfjällsgården
  • Sälen
  • 780 67
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SKIS BOM (OMX Nordic Exchange Stockholm)YesClass B SharesSESEKJan 1970
3AJDB (Deutsche Boerse AG)YesClass B SharesDEEURJan 1970
SKISBsBATS-CHIXE (BATS 'Chi-X Europe')YesClass B SharesGBSEKJan 1970

Biography

SkiStar AB (publ) owns and operates alpine ski resorts in Sweden, Norway, and Austria. The company operates through three segments: Ski Resorts – Operation, Infrastructure, and Exploitation. It provides sk ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/06/15 21:55
End of Day Share Price2019/06/14 00:00
Earnings2019/02/28
Annual Earnings2018/08/31


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.