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Vapiano

DB:VAO
Snowflake Description

Slightly overvalued with concerning outlook.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VAO
DB
€160M
Market Cap
  1. Home
  2. DE
  3. Consumer Services
Company description

Vapiano SE operates a chain of restaurants in the fast casual dining segment in Germany, rest of the Europe, and internationally. The last earnings update was 7 days ago. More info.


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VAO Share Price and Events
7 Day Returns
3.2%
DB:VAO
-2.7%
DE Hospitality
1.6%
DE Market
1 Year Returns
-70.5%
DB:VAO
-52.3%
DE Hospitality
-7.4%
DE Market
VAO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Vapiano (VAO) 3.2% 2.5% 17.9% -70.5% - -
DE Hospitality -2.7% -3.6% -8% -52.3% -25.6% -30.6%
DE Market 1.6% 1.5% 3% -7.4% 14.7% 9.4%
1 Year Return vs Industry and Market
  • VAO underperformed the Hospitality industry which returned -52.3% over the past year.
  • VAO underperformed the Market in Germany which returned -7.4% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

VAO Value

 Is Vapiano 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 Vapiano 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 Vapiano.

DB:VAO 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 12.1%
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:VAO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Hospitality Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.924 (1 + (1- 30%) (307.3%))
2.281
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (2 * 5.96%)
12.15%

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

The calculations below outline how an intrinsic value for Vapiano 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:VAO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 12.15%)
2019 -12.60 Analyst x1 -11.24
2020 15.87 Analyst x1 12.62
2021 24.33 Est @ 53.33% 17.25
2022 33.43 Est @ 37.4% 21.14
2023 42.21 Est @ 26.25% 23.79
2024 49.99 Est @ 18.44% 25.13
2025 56.48 Est @ 12.98% 25.31
2026 61.65 Est @ 9.15% 24.64
2027 65.64 Est @ 6.48% 23.39
2028 68.66 Est @ 4.6% 21.82
Present value of next 10 years cash flows €183.85
DB:VAO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €68.66 × (1 + 0.23%) ÷ (12.15% – 0.23%)
€577.35
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €577.35 ÷ (1 + 12.15%)10
€183.45
DB:VAO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €183.85 + €183.45
€367.31
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €367.31 / 26.06
€14.09
DB:VAO Discount to Share Price
Calculation Result
Value per share (EUR) From above. €14.09
Current discount Discount to share price of €6.13
= -1 x (€6.13 - €14.09) / €14.09
56.5%

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

Current Discount
Amount off the current price Vapiano is available for.
Intrinsic value
>50%
Share price is €6.13 vs Future cash flow value of €14.09
Current Discount Checks
For Vapiano to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Vapiano's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Vapiano'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 Vapiano's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Vapiano's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:VAO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €-4.00
DB:VAO Share Price ** DB (2019-06-24) in EUR €6.13
Germany Hospitality Industry PE Ratio Median Figure of 10 Publicly-Listed Hospitality Companies 18x
Germany Market PE Ratio Median Figure of 425 Publicly-Listed Companies 20.07x

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

** Primary Listing of Vapiano.

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

= DB:VAO Share Price ÷ EPS (both in EUR)

= 6.13 ÷ -4.00

-1.53x

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

  • Vapiano is loss making, we can't compare its value to the DE Hospitality industry average.
  • Vapiano is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Vapiano's expected growth come at a high price?
Raw Data
DB:VAO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -1.53x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
93.5%per year
Germany Hospitality Industry PEG Ratio Median Figure of 5 Publicly-Listed Hospitality Companies 1.27x
Germany Market PEG Ratio Median Figure of 272 Publicly-Listed Companies 1.46x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Vapiano, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Vapiano's assets?
Raw Data
DB:VAO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €0.94
DB:VAO Share Price * DB (2019-06-24) in EUR €6.13
Germany Hospitality Industry PB Ratio Median Figure of 12 Publicly-Listed Hospitality Companies 2.13x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.8x
DB:VAO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= DB:VAO Share Price ÷ Book Value per Share (both in EUR)

= 6.13 ÷ 0.94

6.53x

* Primary Listing of Vapiano.

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

  • Vapiano is overvalued based on assets compared to the DE Hospitality industry average.
X
Value checks
We assess Vapiano'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 Hospitality 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 Hospitality industry average (and greater than 0)? (1 check)
  5. Vapiano has a total score of 2/6, 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.

VAO Future Performance

 How is Vapiano 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
93.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Vapiano expected to grow at an attractive rate?
  • Unable to compare Vapiano's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Vapiano's earnings growth to the Germany market average as it is expected to be loss making during the next 1-3 years.
  • Vapiano's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:VAO Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:VAO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 93.5%
DB:VAO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 9.4%
Germany Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 21%
Germany Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.4%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*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:VAO 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 EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:VAO Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 565 45 1
2021-12-31 478 39 -3 2
2020-12-31 440 38 -4 3
2019-12-31 413 27 -14 3
DB:VAO Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 383 3 -100
2018-12-31 372 -1 -93
2018-09-30 361 7 -36
2018-06-30 347 11 -29
2018-03-31 337 9 -24
2017-12-31 326 11 -28
2017-09-30 314 19 -21
2017-06-30 294 10 -11
2017-03-31 271 16 -5
2016-12-31 250 15 -1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Vapiano is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Vapiano's revenue is expected to grow by 9.4% 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:VAO 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 Vapiano Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:VAO Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31 -0.15 -0.12 -0.19 2.00
2019-12-31 -0.54 -0.25 -0.83 2.00
DB:VAO Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 -4.00
2018-12-31 -3.83
2018-09-30 -1.50
2018-06-30 -1.22
2018-03-31 -1.05
2017-12-31 -1.25
2017-09-30 -0.97
2017-06-30 -0.55
2017-03-31 -0.23
2016-12-31 -0.04

*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.
  • Unable to establish if Vapiano will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Vapiano'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.
Vapiano has a total score of 1/6, 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.

VAO Past Performance

  How has Vapiano 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 Vapiano's growth in the last year to its industry (Hospitality).
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.
  • Vapiano does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Vapiano's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Vapiano's 1-year growth to the DE Hospitality industry average as it is not currently profitable.
Earnings and Revenue History
Vapiano'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 Vapiano Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:VAO Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 383.36 -100.30 39.56
2018-12-31 371.93 -93.43 39.56
2018-09-30 361.27 -35.84 27.48
2018-06-30 347.38 -29.31 27.48
2018-03-31 336.52 -24.04 27.48
2017-12-31 325.66 -27.73 27.48
2017-09-30 313.52 -20.61 24.64
2017-06-30 293.93 -11.25 24.64
2017-03-31 270.86 -4.89 24.64
2016-12-31 249.53 -0.77 24.64
2015-12-31 202.86 0.65 16.79
2014-12-31 151.76 3.38 11.54
2013-12-31 135.05 5.42 9.48

*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.
  • It is difficult to establish if Vapiano has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Vapiano has efficiently used its assets last year compared to the DE Hospitality industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Vapiano improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Vapiano'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 Hospitality 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.
Vapiano has a total score of 0/6, 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.

VAO Health

 How is Vapiano'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 Vapiano's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Vapiano's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Vapiano's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Vapiano'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 not covered by short term assets, assets are 0.1x 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 Vapiano Company Filings, last reported 2 months ago.

DB:VAO Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 34.91 490.96 27.43
2018-12-31 46.94 192.33 34.70
2018-09-30 98.42 194.47 36.63
2018-06-30 109.97 164.96 27.77
2018-03-31 126.57 143.05 30.90
2017-12-31 131.13 128.57 18.26
2017-09-30 147.34 126.17 48.15
2017-06-30 151.12 164.20 105.85
2017-03-31 75.13 165.60 27.33
2016-12-31 76.96 140.70 14.72
2015-12-31 50.34 85.96 5.55
2014-12-31 40.60 56.10 5.53
2013-12-31 33.64 57.74 4.61
  • Vapiano's level of debt (1406.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (162.1% vs 1406.5% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Vapiano has less than a year of cash runway based on current free cash flow.
  • Vapiano has less than a year of cash runway if free cash flow continues to grow at historical rates of 38.9% each year.
X
Financial health checks
We assess Vapiano'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. Vapiano has a total score of 0/6, 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.

VAO Dividends

 What is Vapiano'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
0%
Current annual income from Vapiano dividends. Estimated to be 0% next year.
If you bought €2,000 of Vapiano shares you are expected to receive €0 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?
  • Unable to evaluate Vapiano's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Vapiano's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:VAO 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 Hospitality Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 8.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 328 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

DB:VAO Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00

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

  • Unable to perform a dividend volatility check as Vapiano has not reported any payouts.
  • Unable to verify if Vapiano's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Vapiano's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Vapiano has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Vapiano's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess Vapiano'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 Vapiano afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Vapiano has a total score of 0/6, see the detailed checks below.


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

VAO Management

 What is the CEO of Vapiano'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
Cornelius Everke
AGE 53
TENURE AS CEO 0.5 years
CEO Bio

Cornelius Everke is the Chief Executive Officer of Vapiano since December 1, 2018 and its Member of Management Board since May 1, 2018. Cornelius Everke was Chief Operating Officer of Vapiano since May 1, 2018. Cornelius Everke had been responsible for the international markets since May 2018 and will assume overall responsibility for the global business in the future.

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

Average tenure of the Vapiano management team in years:

0.5
Average Tenure
  • The average tenure for the Vapiano management team is less than 2 years, this suggests a new team.
Management Team

Cornelius Everke

TITLE
CEO & Member of Management Board
AGE
53
TENURE
0.5 yrs

Lutz Scharpe

TITLE
CFO & Member of the Management Board
AGE
49
TENURE
3.5 yrs

Dafne Sanac

TITLE
Head of Investor Relations & Corporate Finance
TENURE
0.4 yrs
Board of Directors Tenure

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

3.6
Average Tenure
49
Average Age
  • The tenure for the Vapiano board of directors is about average.
Board of Directors

Johann Stahl

TITLE
Deputy Chairman of the Supervisory Board
AGE
50
TENURE
7.8 yrs

Kristian Wettling

TITLE
Member of the Supervisory Board
AGE
44
TENURE
7.5 yrs

Gregor Gerlach

TITLE
Member of the Supervisory Board
AGE
49
TENURE
3.6 yrs

Rigbert Fischer

TITLE
Member of the Supervisory Board
AGE
32
TENURE
3.5 yrs

Helen Jones

TITLE
Member of the Supervisory Board
AGE
60
TENURE
2.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Vapiano'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. Vapiano 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.

VAO News

Simply Wall St News

If You Had Bought Vapiano (FRA:VAO) Stock A Year Ago, You'd Be Sitting On A 76% Loss, Today

Vapiano isn't a profitable company, so it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). … We'd posit that the future looks challenging, given the disconnect between revenue growth and the share price. … The chart below shows how revenue and earnings have changed with time, (if you click on the chart you can see the actual values)

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How Much Of Vapiano SE (FRA:VAO) Do Insiders Own?

Generally speaking, as a company grows, institutions will increase their ownership. … Conversely, insiders often decrease their ownership over time. … Our analysis of the ownership of the company, below, shows that.

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Is Vapiano SE's (FRA:VAO) Balance Sheet A Threat To Its Future?

Investors are always looking for growth in small-cap stocks like Vapiano SE (FRA:VAO), with a market cap of €498.62m. … However, an important fact which most ignore is: how financially healthy is the business?

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Vapiano SE (FRA:VAO): Is Consumer Sector Attractive??

This rate is larger than the growth rate of the DE stock market as a whole. … In this article, I’ll take you through the sector growth expectations, and also determine whether Vapiano is a laggard or leader relative to its consumer discretionary sector peers. … If Vapiano has been on your watchlist for a while, now may be the time to enter into the stock, if you like its growth prospects and are not highly concentrated in the leisure industry.

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Is Analysts' Sentiment For Vapiano SE's (FRA:VAO) Justified?

I will conduct a high level fundamental analysis on the company by looking at its past financials and growth prospects moving forward. … DB:VAO Historical Debt May 22nd 18 VAO's financial status is a key element to determine whether or not it is a risky investment - a key aspect most investors overlook when they focus too much on growth. … Alarm bells rang in my head when I saw VAO's high level of debt at 0.99x equity, and its low level of cash generated from its core operating activities, covering a mere 8.43% of debt.

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Vapiano SE (FRA:VAO): How Much Money Comes Back To Investors?

I will be analysing Vapiano’s FCF by looking at its FCF yield and its operating cash flow growth. … Free Cash Flow = Operating Cash Flows – Net Capital Expenditure Free Cash Flow Yield = Free Cash Flow / Enterprise Value where Enterprise Value = Market Capitalisation + Net Debt Along with a positive operating cash flow, Vapiano also generates a positive free cash flow. … Current +1 year +2 year +3 year Operating Cash Flow (OCF) €20.05M €42.47M €57.55M €66.29M OCF Growth Year-On-Year 111.82% 35.51% 15.20% OCF Growth From Current Year 187.03% 230.64% Next Steps: The company’s low yield relative to the market index means you are taking on more risk holding the single-stock Vapiano as opposed to the diversified market portfolio, and being compensated for less.

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Who Are The Major Shareholders In Vapiano SE (FRA:VAO)?

In this article, I'm going to take a look at Vapiano SE’s (DB:VAO) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … Private Company Ownership Another important group of owners for potential investors in VAO are private companies that hold a stake of 13.08% in VAO. … Thus, potential investors should look into these business relations and check how it can impact long-term shareholder returns.Next Steps: The company's high institutional ownership makes margin of safety a very important consideration to existing investors since long bull and bear trends often emerge when these big-ticket investors see a change in long-term potential of the company.

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Is Vapiano SE's (FRA:VAO) Balance Sheet Strong Enough To Weather A Storm?

How does VAO’s operating cash flow stack up against its debt? … Additionally, VAO has generated €14.88M in operating cash flow in the last twelve months, leading to an operating cash to total debt ratio of 10.44%, meaning that VAO’s operating cash is not sufficient to cover its debt. … Maintaining a high level of debt, while revenues are still below costs, can be dangerous as liquidity tends to dry up in unexpected downturns.Next Steps: VAO’s high debt levels is not met with high cash flow coverage.

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Vapiano SE's (FRA:VAO) Shift From Loss To Profit

Many investors are wondering the rate at which VAO will turn a profit, with the big question being “when will the company breakeven?” In this article, I will touch on the expectations for VAO’s growth and when analysts expect the company to become profitable. … DB:VAO Past Future Earnings Mar 12th 18 I’m not going to go through company-specific developments for VAO given that this is a high-level summary, but, bear in mind that typically a high forecast growth rate is not unusual for a company that is currently undergoing an investment period. … For a more comprehensive look at VAO, take a look at VAO’s company page on Simply Wall St.

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VAO Company Info

Description

Vapiano SE operates a chain of restaurants in the fast casual dining segment in Germany, rest of the Europe, and internationally. As of December 31, 2018, it operated 231 restaurants under the corporate restaurants, joint venture restaurants, and franchise restaurants in 33 countries under the Vapiano brand. The company was founded in 2002 and is headquartered in Cologne, Germany.

Details
Name: Vapiano SE
VAO
Exchange: DB
Founded: 2002
€159,767,728
26,063,251
Website: http://www.vapiano.eu
Address: Vapiano SE
Im Zollhafen 2-4,
Cologne,
North Rhine-Westphalia, 50678,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
DB VAO Ordinary Bearer Shares Deutsche Boerse AG DE EUR 27. Jun 2017
OTCPK VPPN.F Ordinary Bearer Shares Pink Sheets LLC US USD 27. Jun 2017
XTRA VAO Ordinary Bearer Shares XETRA Trading Platform DE EUR 27. Jun 2017
LSE 0RR0 Ordinary Bearer Shares London Stock Exchange GB EUR 27. Jun 2017
SWX VAO Ordinary Bearer Shares SIX Swiss Exchange CH CHF 27. Jun 2017
BATS-CHIXE VAOD Ordinary Bearer Shares BATS 'Chi-X Europe' GB EUR 27. Jun 2017
OTCPK VPPN.Y UNSPONSORD ADR Pink Sheets LLC US USD 06. Nov 2017
Number of employees
Current staff
Staff numbers
7,329
Vapiano employees.
Industry
Restaurants
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/24 22:38
End of day share price update: 2019/06/24 00:00
Last estimates confirmation: 2019/06/17
Last earnings filing: 2019/06/17
Last earnings reported: 2019/03/31
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.