XTRA:RHK

Stock Analysis Report

Executive Summary

RHÖN-KLINIKUM Aktiengesellschaft, together with its subsidiaries, builds, acquires, and operates primarily acute-care hospitals in Germany.

Rewards

PE ratio (30.4x) is below the Healthcare industry average (30.5x)

Risk Analysis

Earnings are forecast to decline by an average of -8.6% per year for the next 3 years

Unstable dividend track record

Profit margins (2.7%) are lower than last year (3.9%)



Snowflake Analysis

Excellent balance sheet second-rate dividend payer.


Similar Companies

Share Price & News

How has RHÖN-KLINIKUM's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: RHK has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.1%

RHK

-0.8%

DE Healthcare

0.2%

DE Market


1 Year Return

-19.0%

RHK

9.9%

DE Healthcare

13.6%

DE Market

Return vs Industry: RHK underperformed the German Healthcare industry which returned 9.9% over the past year.

Return vs Market: RHK underperformed the German Market which returned 13.6% over the past year.


Shareholder returns

RHKIndustryMarket
7 Day-0.1%-0.8%0.2%
30 Day-5.6%0.4%-0.08%
90 Day-16.4%6.6%6.0%
1 Year-18.0%-19.0%11.9%9.9%17.1%13.6%
3 Year-24.1%-26.5%-20.3%-23.2%19.6%9.0%
5 Year-12.1%-20.1%21.4%14.7%38.9%20.0%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is RHÖN-KLINIKUM undervalued compared to its fair value and its price relative to the market?

30.43x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: RHK (€18.3) is trading above our estimate of fair value (€5.39)

Significantly Below Fair Value: RHK is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: RHK is good value based on its PE Ratio (30.4x) compared to the Healthcare industry average (30.5x).

PE vs Market: RHK is poor value based on its PE Ratio (30.4x) compared to the German market (20.7x).


Price to Earnings Growth Ratio

PEG Ratio: RHK's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: RHK is good value based on its PB Ratio (1.1x) compared to the DE Healthcare industry average (1.3x).


Next Steps

Future Growth

How is RHÖN-KLINIKUM forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

-8.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: RHK's earnings are forecast to decline over the next 3 years (-8.6% per year).

Earnings vs Market: RHK's earnings are forecast to decline over the next 3 years (-8.6% per year).

High Growth Earnings: RHK's earnings are forecast to decline over the next 3 years.

Revenue vs Market: RHK's revenue (2.8% per year) is forecast to grow slower than the German market (4.9% per year).

High Growth Revenue: RHK's revenue (2.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if RHK's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has RHÖN-KLINIKUM performed over the past 5 years?

-68.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: RHK has high quality earnings.

Growing Profit Margin: RHK's current net profit margins (2.7%) are lower than last year (3.9%).


Past Earnings Growth Analysis

Earnings Trend: RHK's earnings have declined by -68.2% per year over the past 5 years.

Accelerating Growth: RHK's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: RHK had negative earnings growth (-27.1%) over the past year, making it difficult to compare to the Healthcare industry average (-6.8%).


Return on Equity

High ROE: RHK's Return on Equity (3.5%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is RHÖN-KLINIKUM's financial position?


Financial Position Analysis

Short Term Liabilities: RHK's short term assets (€592.4M) exceed its short term liabilities (€280.8M).

Long Term Liabilities: RHK's short term assets (€592.4M) exceed its long term liabilities (€185.6M).


Debt to Equity History and Analysis

Debt Level: RHK's debt to equity ratio (13.6%) is considered satisfactory.

Reducing Debt: RHK's debt to equity ratio has increased from 12.8% to 13.6% over the past 5 years.

Debt Coverage: RHK's debt is well covered by operating cash flow (56.7%).

Interest Coverage: RHK's interest payments on its debt are well covered by EBIT (17.3x coverage).


Balance Sheet

Inventory Level: RHK has a high level of physical assets or inventory.

Debt Coverage by Assets: RHK's debt is covered by short term assets (assets are 3.7x debt).


Next Steps

Dividend

What is RHÖN-KLINIKUM's current dividend yield, its reliability and sustainability?

1.58%

Current Dividend Yield


Dividend Yield vs Market

company1.6%marketbottom25%1.3%markettop25%3.6%industryaverage1.8%forecastin3Years1.3%

Current dividend yield vs market & industry

Notable Dividend: RHK's dividend (1.58%) is higher than the bottom 25% of dividend payers in the German market (1.34%).

High Dividend: RHK's dividend (1.58%) is low compared to the top 25% of dividend payers in the German market (3.63%).


Stability and Growth of Payments

Stable Dividend: RHK's dividend payments have been volatile in the past 10 years.

Growing Dividend: RHK's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (48.2%), RHK's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: RHK's dividends in 3 years are forecast to be well covered by earnings (40.7% payout ratio).


Next Steps

Management

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

2.8yrs

Average management tenure


CEO

Stephan Holzinger 0

2.8yrs

Tenure

€2,271,000

Compensation

Mr. Stephan Holzinger serves as a Management Consultant at Lenggries. Mr. Holzinger has been Chairman of Management Board at Rhön-Klinikum Aktiengesellschaft since February 1, 2017. He is Chief Executive O ...


CEO Compensation Analysis

Compensation vs Market: Stephan's total compensation ($USD2.52M) is above average for companies of similar size in the German market ($USD1.50M).

Compensation vs Earnings: Stephan's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Management Age and Tenure

2.8yrs

Average Tenure

67yo

Average Age

Experienced Management: RHK's management team is considered experienced (2.8 years average tenure).


Board Age and Tenure

9.5yrs

Average Tenure

Experienced Board: RHK's board of directors are considered experienced (9.5 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Jörg Demmler (67yo)

    Head of Technical Controlling & Environment

    • Tenure: 0yrs
  • Franz Mlynek (67yo)

    Divisional Head of Major Investments

    • Tenure: 0yrs
  • Esther Walter

    Head of Group Press and Public Relations

    • Tenure: 0yrs
  • Stephan Holzinger

    Chairman of Board of Management & CEO

    • Tenure: 2.8yrs
    • Compensation: €2.27m
  • Bernd Griewing

    Chief Medical Officer & Member of Board of Management

    • Tenure: 3.9yrs
    • Compensation: €1.37m
  • Harald Auner

    Head of Group Division

    • Tenure: 0yrs
  • Gunther Karl Weiß (53yo)

    COO & Member of Management Board

    • Tenure: 1.6yrs
    • Compensation: €751.00k
  • Julian Schmitt

    Head of Investor Relations & Treasury

    • Tenure: 0yrs
  • Elke Pfeifer

    Head of Corporate Communications and Marketing

    • Tenure: 0yrs

Board Members

  • Gerhard Ehninger

    Member of Supervisory Board

    • Tenure: 0yrs
    • Compensation: €54.00k
  • Michael Wendl

    Member of Advisory Board

    • Tenure: 0yrs
    • Compensation: €80.00k
  • Brigitte Mohn

    Member of Supervisory Board

    • Tenure: 17.4yrs
    • Compensation: €56.00k
  • Eugen Münch

    Chairman of Supervisory Board

    • Tenure: 14.3yrs
    • Compensation: €357.00k
  • Frederik Wenz

    Chairman of Advisory Board

    • Tenure: 11.1yrs
  • Georg Milbradt

    Member of Advisory Board

    • Tenure: 0yrs
  • Stefan Härtel

    Member of Supervisory Board

    • Tenure: 9.5yrs
    • Compensation: €82.00k
  • Georg Schulze-Ziehaus

    First Deputy Chairman of the Supervisory Board

    • Tenure: 4.5yrs
    • Compensation: €138.00k
  • Peter Berghöfer

    Member of Supervisory Board

    • Tenure: 9.5yrs
    • Compensation: €100.00k
  • Annette Beller

    Member of Supervisory Board

    • Tenure: 2.8yrs
    • Compensation: €172.00k

Company Information

RHÖN-KLINIKUM Aktiengesellschaft's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: RHÖN-KLINIKUM Aktiengesellschaft
  • Ticker: RHK
  • Exchange: XTRA
  • Founded:
  • Industry: Health Care Facilities
  • Sector: Healthcare
  • Market Cap: €1.225b
  • Shares outstanding: 66.94m
  • Website: https://www.rhoen-klinikum-ag.com

Number of Employees


Location

  • RHÖN-KLINIKUM Aktiengesellschaft
  • Salzburger Leite 1
  • Bad Neustadt an der Saale
  • Bavaria
  • 97616
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
RHKJ.FOTCPK (Pink Sheets LLC)YesBearer Ordinary SharesUSUSDJan 1992
RHKDB (Deutsche Boerse AG)YesBearer Ordinary SharesDEEURJan 1992
RHKXTRA (XETRA Trading Platform)YesBearer Ordinary SharesDEEURJan 1992
0NQHLSE (London Stock Exchange)YesBearer Ordinary SharesGBEURJan 1992
RHKDBATS-CHIXE (BATS 'Chi-X Europe')YesBearer Ordinary SharesGBEURJan 1992
RHKSWX (SIX Swiss Exchange)YesBearer Ordinary SharesCHCHFJan 1992
RHKWBAG (Wiener Boerse AG)YesBearer Ordinary SharesATEURJan 1992
RHKETLX (Eurotlx)YesBearer Ordinary SharesITEURJan 1992
RKAG.YOTCPK (Pink Sheets LLC)ADRUSUSDFeb 2010

Biography

RHÖN-KLINIKUM Aktiengesellschaft, together with its subsidiaries, builds, acquires, and operates primarily acute-care hospitals in Germany. Its hospitals offer treatment services primarily in the areas of  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/11 21:03
End of Day Share Price2019/12/11 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.