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MLP

DB:MLP
Snowflake Description

Excellent balance sheet, good value and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MLP
DB
€455M
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

MLP SE, through its subsidiaries, provides financial brokerage and consulting services to private clients, companies, and institutional investors in Germany. The last earnings update was 5 days ago. More info.


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MLP Share Price and Events
7 Day Returns
-2.5%
DB:MLP
0.4%
DE Capital Markets
-0.2%
DE Market
1 Year Returns
-25.8%
DB:MLP
-13.6%
DE Capital Markets
-10.3%
DE Market
MLP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
MLP (MLP) -2.5% -8.5% -7.3% -25.8% 22.3% -14.9%
DE Capital Markets 0.4% -3.4% 2.4% -13.6% -16.9% -46.9%
DE Market -0.2% -2.4% 4% -10.3% 11.2% 10.8%
1 Year Return vs Industry and Market
  • MLP underperformed the Capital Markets industry which returned -13.6% over the past year.
  • MLP underperformed the Market in Germany which returned -10.3% over the past year.
Price Volatility
MLP
Industry
5yr Volatility vs Market

MLP Value

 Is MLP 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 MLP 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 MLP.

DB:MLP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= €4.02 * 6.5%
€0.26
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. €4.02
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:MLP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.7
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.701 (1 + (1- 30%) (0%))
0.8
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:MLP using Excess Returns Model Model

The calculations below outline how an intrinsic value for MLP is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:MLP Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (6.5% – 5%) * €4.02)
€0.06
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €0.06 / (5% - 0.23%)
€1.29
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €4.02 + €1.29
€5.32
DB:MLP Discount to Share Price
Calculation Result
Value per share (EUR) From above. €5.32
Current discount Discount to share price of €4.17
= -1 x (€4.17 - €5.32) / €5.32
21.6%

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

Current Discount
Amount off the current price MLP is available for.
Intrinsic value
22%
Share price is €4.17 vs Future cash flow value of €5.32
Current Discount Checks
For MLP to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • MLP's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • MLP's share price is below the future cash flow value, but not 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 MLP's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are MLP's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:MLP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €0.31
DB:MLP Share Price ** DB (2019-05-20) in EUR €4.17
Germany Capital Markets Industry PE Ratio Median Figure of 19 Publicly-Listed Capital Markets Companies 19.77x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 20.17x

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

** Primary Listing of MLP.

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

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

= 4.17 ÷ 0.31

13.44x

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

  • MLP is good value based on earnings compared to the DE Capital Markets industry average.
  • MLP is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does MLP's expected growth come at a high price?
Raw Data
DB:MLP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.44x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
1.3%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 8 Publicly-Listed Capital Markets Companies 2.58x
Germany Market PEG Ratio Median Figure of 273 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.44x ÷ 1.3%

10.2x

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

  • MLP is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on MLP's assets?
Raw Data
DB:MLP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €3.93
DB:MLP Share Price * DB (2019-05-20) in EUR €4.17
Germany Capital Markets Industry PB Ratio Median Figure of 30 Publicly-Listed Capital Markets Companies 1.71x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.78x
DB:MLP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 4.17 ÷ 3.93

1.06x

* Primary Listing of MLP.

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

  • MLP is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess MLP'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 Capital Markets 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 Capital Markets industry average (and greater than 0)? (1 check)
  5. MLP has a total score of 4/6, 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.

MLP Future Performance

 How is MLP expected to perform in the next 1 to 3 years based on estimates from 4 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
1.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is MLP expected to grow at an attractive rate?
  • MLP's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • MLP's earnings growth is positive but not above the Germany market average.
  • MLP's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:MLP Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:MLP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 1.3%
DB:MLP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 2.2%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 26.3%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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:MLP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:MLP Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 748 1
2022-12-31 714 31 2
2021-12-31 709 109 36 3
2020-12-31 695 106 36 3
2019-12-31 673 102 33 3
DB:MLP Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 667 191 34
2018-12-31 657 141 34
2018-09-30 643 98 34
2018-06-30 631 159 27
2018-03-31 625 156 29
2017-12-31 616 116 28
2017-09-30 610 112 16
2017-06-30 610 88 20
2017-03-31 612 101 17
2016-12-31 602 145 15
2016-09-30 595 94 26
2016-06-30 583 84 19

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • MLP's earnings are expected to grow by 1.3% yearly, however this is not considered high growth (20% yearly).
  • MLP's revenue is expected to grow by 2.2% 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:MLP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from MLP Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MLP Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.31 0.38 0.20 3.00
2020-12-31 0.32 0.35 0.23 4.00
2019-12-31 0.29 0.33 0.17 4.00
DB:MLP Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 0.31
2018-12-31 0.32
2018-09-30 0.32
2018-06-30 0.24
2018-03-31 0.26
2017-12-31 0.25
2017-09-30 0.14
2017-06-30 0.19
2017-03-31 0.16
2016-12-31 0.13
2016-09-30 0.27
2016-06-30 0.17

*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.
  • MLP is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess MLP'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.
MLP 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.

MLP Past Performance

  How has MLP 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 MLP's growth in the last year to its industry (Capital Markets).
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.
  • MLP's year on year earnings growth rate has been positive over the past 5 years.
  • MLP's 1-year earnings growth exceeds its 5-year average (20.2% vs 4.3%)
  • MLP's earnings growth has exceeded the DE Capital Markets industry average in the past year (20.2% vs 17.6%).
Earnings and Revenue History
MLP'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 MLP Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MLP Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 667.03 34.32 18.28
2018-12-31 657.16 34.49 18.28
2018-09-30 643.35 34.12 24.14
2018-06-30 631.14 27.05 15.06
2018-03-31 624.53 28.55 14.83
2017-12-31 615.53 27.80 19.35
2017-09-30 609.90 16.25 21.76
2017-06-30 610.17 19.64 30.84
2017-03-31 612.35 17.10 26.27
2016-12-31 602.22 14.70 21.76
2016-09-30 594.92 25.68 22.32
2016-06-30 582.76 18.82 12.69
2016-03-31 562.90 20.71 22.32
2015-12-31 544.05 19.78 22.32
2015-09-30 554.96 25.42 6.53
2015-06-30 547.25 31.71 20.79
2015-03-31 536.22 31.52 16.27
2014-12-31 519.08 28.96 21.31
2014-09-30 495.77 21.61 22.01
2014-06-30 489.82 23.50 22.23
2014-03-31 489.57 23.41 22.61
2013-12-31 489.07 23.91 22.40
2013-09-30 538.70 43.66 20.63
2013-06-30 547.48 46.78 21.03
2013-03-31 549.70 46.62 22.37
2012-12-31 553.65 52.93 23.47
2012-09-30 531.70 28.58 27.10
2012-06-30 526.06 21.81 27.95

*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.
  • MLP has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • MLP used its assets less efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • MLP's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess MLP'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 Capital Markets 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.
MLP has a total score of 3/6, 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.

MLP Health

 How is MLP'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 MLP's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • MLP is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • MLP's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of MLP'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.
  • Low level of unsold assets.
  • MLP has no debt, it does not need to be covered by short term assets.
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 MLP Company Filings, last reported 1 month ago.

DB:MLP Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 429.19 0.00 498.81
2018-12-31 424.83 0.00 399.01
2018-09-30 408.39 0.00 328.89
2018-06-30 399.98 0.00 345.09
2018-03-31 422.15 0.00 365.12
2017-12-31 404.94 10.00 305.99
2017-09-30 386.50 0.00 211.71
2017-06-30 387.87 0.00 165.24
2017-03-31 393.30 0.00 186.08
2016-12-31 383.59 0.00 186.21
2016-09-30 373.88 0.00 129.04
2016-06-30 372.07 0.00 126.86
2016-03-31 387.90 0.00 133.40
2015-12-31 385.75 0.00 78.76
2015-09-30 368.95 0.00 100.95
2015-06-30 364.90 0.00 94.38
2015-03-31 378.59 0.00 74.40
2014-12-31 376.80 0.00 55.42
2014-09-30 361.57 0.00 45.82
2014-06-30 359.27 0.00 38.31
2014-03-31 376.91 0.00 42.60
2013-12-31 370.46 0.18 53.24
2013-09-30 358.22 0.22 40.63
2013-06-30 352.86 0.19 102.14
2013-03-31 387.55 0.23 137.41
2012-12-31 384.16 0.35 70.93
2012-09-30 353.18 0.00 79.87
2012-06-30 344.74 0.00 34.11
  • MLP has no debt.
  • MLP had no debt 5 years ago.
  • MLP has no debt, it does not need to be covered by operating cash flow.
  • MLP has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess MLP'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. MLP 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.

MLP Dividends

 What is MLP'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
4.8%
Current annual income from MLP dividends. Estimated to be 5.1% next year.
If you bought €2,000 of MLP shares you are expected to receive €96 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?
  • MLP's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.45%).
  • MLP's dividend is above the markets top 25% of dividend payers in Germany (3.81%).
Upcoming dividend payment

Purchase MLP before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:MLP 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 4 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 2.4%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 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 3.8%

Industry and Market average data is calculated daily.

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

DB:MLP Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 0.20 1.00
2021-12-31 0.23 3.00
2020-12-31 0.22 4.00
2019-12-31 0.20 4.00
DB:MLP Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-28 0.200 4.547
2019-02-28 0.200 4.443
2018-03-28 0.200 4.003
2018-02-28 0.200 3.901
2017-03-23 0.080 1.385
2017-02-23 0.080 1.533
2016-06-02 0.120 3.114
2015-03-27 0.170 4.765
2015-02-26 0.170 4.518
2014-02-27 0.160 3.661
2013-03-27 0.320 6.447
2013-02-28 0.320 5.607
2012-03-14 0.300 5.496
2012-02-29 0.300 4.902
2011-03-24 0.300 5.350
2011-02-23 0.300 4.278
2010-03-16 0.250 3.347
2010-02-24 0.250 3.585

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

  • MLP has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • MLP has only been paying a dividend for 9 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of MLP's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.4x coverage).
X
Income/ dividend checks
We assess MLP'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 MLP afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. MLP 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.

MLP Management

 What is the CEO of MLP'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
Uwe Schroeder-Wildberg
COMPENSATION €1,561,000
AGE 53
TENURE AS CEO 15.3 years
CEO Bio

Dr. Uwe Schroeder-Wildberg has been the Chief Executive Officer of MLP AG (Marschollek Lautenschlaeger & Partner AG) since January 1, 2004 and has been its Chairman of the Executive Board since January 1, 2004. Dr. Schroeder-Wildberg is responsible for Marschollek's Planning and Statergy, Human Resources Communication, Legal Affairs, Audit and IT. He served as the Chief Financial Officer of MLP AG from January 2003 to April 1, 2004 served as its Head of Strategy & Marketing. He served as the Chief Financial Officer of Consors Discount-broker AG and served as its Deputy Spokesman since February 5, 2002. He served in as Scientific post with Prof. Gerke at the Chair for Banking and Stock Exchange. He began his Professional career in 1995 in the Treasury Division at Südzucker AG in Mannheim. In 1999, he moved to Consors in Nürnberg, initially as Managing Director. Following the acquisition of Consors by the large French bank Paribas, he became Chief Financial Officer of Cortalconsors in Paris. He serves as the Chairman of Supervisory Board of MLP Bank AG, MLP Versicherung AG, MLP Lebensversicherung AG and BAV GmbH. He serves as the Chairman of MLP Finanzdienstleistungen AG. He serves as Chairman & Member of the Supervisory Board of Consors Capital Bank AG, Berlin, a subsidiary of Berliner Effektengesellschaft Ag. He serves as a Member of the Advisory Board of Fuchs Petrolub AG. He serves as Member of Supervisory Board of Berliner Effektengesellschaft Ag. He served as Member of the Supervisory Board of Consors France S.A., since December 31, 1999, Paris, France and eInsurance Agency AG, Munich. He also Lectured at Universities of Mannheim and Erlangen-Nuremberg. He is a Graduate in Business Studies from University of Mannheim and awarded a Doctor's degree in Business Administration.

CEO Compensation
  • Uwe's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Uwe's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

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

9
Average Tenure
53
Average Age
  • The average tenure for the MLP management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Uwe Schroeder-Wildberg

TITLE
Chairman of the Executive Board & CEO
COMPENSATION
€2M
AGE
53
TENURE
15.3 yrs

Reinhard Loose

TITLE
CFO & Member of the Executive Board
COMPENSATION
€995K
AGE
53
TENURE
8.3 yrs

Manfred Bauer

TITLE
Member of the Executive Board
COMPENSATION
€1M
AGE
57
TENURE
9 yrs

Mirko See

TITLE
Head of Group Accounting

Andreas Herzog

TITLE
Head of Investor Relations and Financial Communications

Hans-Joachim Letzel

TITLE
Head of Legal Department

Jan Berg

TITLE
Head of Communications and Politics

Carsten Soßna

TITLE
Head of Account and Securities Settlement

Frank Fuchs

TITLE
Head of Loans and Mortgages

Haimo Wassmer

TITLE
Head of Sales Applications
Board of Directors Tenure

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

3.9
Average Tenure
64
Average Age
  • The tenure for the MLP board of directors is about average.
Board of Directors

Peter Lütke-Bornefeld

TITLE
Chairman of the Supervisory Board
AGE
72
TENURE
10.4 yrs

Claus-Michael Dill

TITLE
Deputy Chairman of the Supervisory Board
AGE
64
TENURE
0.9 yrs

H. C. Lautenschläger

TITLE
Honorary Chairman
TENURE
0.9 yrs

Burkhard Schlingermann

TITLE
Employee Representative Member of Supervisory Board
TENURE
6.1 yrs

Alexander Beer

TITLE
Employee Representative Member of Supervisory Board
TENURE
6.1 yrs

Tina Müller

TITLE
Supervisory Board Member
AGE
50
TENURE
3.9 yrs

Matthias Lautenschläger

TITLE
Supervisory Board Member
TENURE
0.9 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 (€)
X
Management checks
We assess MLP'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. MLP 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.

MLP News

Simply Wall St News

What Should Investors Know About MLP SE's (FRA:MLP) Future?

On 31 December 2018, MLP SE (FRA:MLP) released its most recent earnings update. … analyst consensus outlook seem … with profits predicted to drop by -6.1% next year

Simply Wall St -

Does MLP SE's (FRA:MLP) Recent Track Record Look Strong?

After reading MLP SE's (FRA:MLP) most recent earnings announcement (30 June 2018), I found it useful to look back at how the company has performed in the past and compare this against the latest numbers. … As a long term investor, I pay close attention to earnings trend, rather than the figures published at one point in time. … MLP's trailing twelve-month earnings (from 30 June 2018) of €27m has.

Simply Wall St -

What Does MLP SE's (FRA:MLP) PE Ratio Tell You?

Although some investors may jump to the conclusion that you should avoid the stock or sell if you own it, understanding the assumptions behind the P/E ratio might change your mind. … I will explain what the P/E ratio is as well as what you should look out for when using it … Breaking down the Price-Earnings ratio

Simply Wall St -

Is MLP SE (FRA:MLP) An Attractive Dividend Stock?

Dividends play a key role in compounding returns over time and can form a large part of our portfolio return. … Does MLP tick all the boxes of a great dividend stock? … 5 checks you should use to assess a dividend stock

Simply Wall St -

MLP SE (FRA:MLP): Did It Outperform The Industry?

For investors with a long-term horizon, assessing earnings trend over time and against industry benchmarks is more valuable than looking at a single earnings announcement in one point in time. … MLP's trailing twelve-month earnings (from 31 March 2018) of €28.55m has

Simply Wall St -

Is MLP SE's (FRA:MLP) Stock Available For A Good Price After Accounting For Growth?

Growth expectations for MLP SE (FRA:MLP) are high, but many investors are starting to ask whether its last close at €5.47 can still be rationalized by the future potential. … Below I will be talking through a basic metric which will help answer this question. … Analysts are predicting good growth prospects for MLP over the next couple of years

Simply Wall St -

Is Buying MLP SE (DB:MLP) For Its Upcoming €00.20 Dividend A Good Choice?

Have you been keeping an eye on MLP SE's (DB:MLP) upcoming dividend of €0.20 per share payable on the 19 June 2018? … 5 checks you should use to assess a dividend stock? … Whenever I am looking at a potential dividend stock investment, I always check these five metrics:

Simply Wall St -

At €5.61, Is MLP SE (FRA:MLP) A Buy?

This means that if you believe the current share price should move towards its intrinsic value over time, a low beta could suggest it is not likely to reach that level anytime soon, and once it’s there, it may be hard to fall back down into an attractive buying range again. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. … If you believe MLP should trade below its current price, selling high and buying it back up again when its price falls towards its real value can be profitable.

Simply Wall St -

Should You Sell MLP SE (FRA:MLP) At This PE Ratio?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for MLP Price per share = €5.02 Earnings per share = €0.254 ∴ Price-Earnings Ratio = €5.02 ÷ €0.254 = 19.7x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … Since MLP's P/E of 19.7x is higher than its industry peers (16.6x), it means that investors are paying more than they should for each dollar of MLP's earnings. … For example, if you are inadvertently comparing riskier firms with MLP, then MLP’s P/E would naturally be higher than its peers since investors would reward its lower risk with a higher price.

Simply Wall St -

MLP SE (FRA:MLP): Is It A Good Long Term Opportunity?

Below, I've presented key growth figures on how market analysts predict MLP's earnings growth outlook over the next couple of years and whether the future looks even brighter than the past. … View our latest analysis for MLP Market analysts' consensus outlook for the coming year seems optimistic, with earnings growing by a robust 26.47%. … This growth seems to continue into the following year with rates reaching double digit 36.38% compared to today’s earnings, and finally hitting €42.44M by 2021.

Simply Wall St -

MLP Company Info

Description

MLP SE, through its subsidiaries, provides financial brokerage and consulting services to private clients, companies, and institutional investors in Germany. The company’s Financial Consulting segment offers consulting services for academics and other clients related to insurance, investments, occupational pension provision schemes, and loans and mortgages, as well as the brokering of contracts in financial services. This segment is also involved in the finance portfolio management activity. Its FERI segment provides wealth and investment consulting, as well as investment management and research services for institutional investors and high net-worth individuals. The company’s DOMCURA segment operates as an underwriting agency that designs, develops, and implements coverage concepts in the field of private and commercial non-life insurance products, as well as provides brokerage services. Its Banking business segment provides banking services, such as wealth management, accounts and cards, and lending services. This segment also offers securities custody, commission, investment consulting, and insurance and investment brokerage services. MLP SE was founded in 1971 and is headquartered in Wiesloch, Germany.

Details
Name: MLP SE
MLP
Exchange: DB
Founded: 1971
€455,304,367
108,794,353
Website: http://www.mlp-se.com
Address: MLP SE
Alte Heerstrasse 40,
Wiesloch,
Baden-Württemberg, 69168,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
DB MLP Ordinary Shares Deutsche Boerse AG DE EUR 06. Jan 1992
XTRA MLP Ordinary Shares XETRA Trading Platform DE EUR 06. Jan 1992
LSE 0NDP Ordinary Shares London Stock Exchange GB EUR 06. Jan 1992
SWX MLP Ordinary Shares SIX Swiss Exchange CH CHF 06. Jan 1992
WBAG MLP Ordinary Shares Wiener Boerse AG AT EUR 06. Jan 1992
BATS-CHIXE MLPD Ordinary Shares BATS 'Chi-X Europe' GB EUR 06. Jan 1992
Number of employees
Current staff
Staff numbers
1,745
MLP employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 20:51
End of day share price update: 2019/05/20 00:00
Last estimates confirmation: 2019/05/15
Last earnings filing: 2019/05/15
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.