XTRA:SBS

Stock Analysis Report

Executive Summary

STRATEC SE designs and manufactures automation and instrumentation solutions in the fields of in-vitro diagnostics and life sciences in Germany and internationally.

Snowflake

Fundamentals

Reasonable growth potential average dividend payer.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

1.4%

SBS

-3.9%

DE Medical Equipment

2.8%

DE Market


1 Year Return

47.6%

SBS

14.2%

DE Medical Equipment

3.0%

DE Market

Return vs Industry: SBS exceeded the German Medical Equipment industry which returned 14.2% over the past year.

Return vs Market: SBS exceeded the German Market which returned 3% over the past year.


Share holder returns

SBSIndustryMarket
7 Day1.4%-3.9%2.8%
30 Day10.4%-2.5%0.2%
90 Day38.0%0.2%1.3%
1 Year49.6%47.6%16.0%14.2%6.2%3.0%
3 Year40.5%35.4%98.8%93.7%18.2%8.0%
5 Year112.2%98.5%283.6%264.3%43.1%23.6%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

8%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Undervalued: SBS (€74.4) is trading below our estimate of fair value (€80.61)

Significantly Undervalued: SBS is trading below fair value, but not by a significant amount.


Price Based on Earnings

PE vs Industry: SBS is poor value based on its PE Ratio (64.5x) compared to the Medical Equipment industry average (34.9x).

PE vs Market: SBS is poor value based on its PE Ratio (64.5x) compared to the German market (19.7x).


Price Based on Expected Growth

Low PEG Ratio: SBS is poor value based on its PEG Ratio (2.3x)


Price Based on Value of Assets

PB vs Industry: SBS is good value based on its PB Ratio (6x) compared to the DE Medical Equipment industry average (6.1x).


Next Steps

Future Growth

How is Stratec expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

28.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Earnings vs Savings Rate: SBS's forecast earnings growth (28% per year) is above the savings rate (0.2%).

Earnings vs Market: SBS's earnings (28% per year) are forecast to grow faster than the German market (12.8% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: SBS's revenue (9.9% per year) is forecast to grow faster than the German market (5% per year).

High Growth Revenue: SBS's revenue (9.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Estimates


Future Return on Equity

High Future ROE: SBS's Return on Equity is forecast to be low in 3 years time (17.3%).


Next Steps

Past Performance

How has Stratec performed over the past 5 years?

-3.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: SBS's earnings have declined by -3.7% per year over the past 5 years.

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

Earnings vs Industry: SBS had negative earnings growth (-39.6%) over the past year, making it difficult to compare to the Medical Equipment industry average (6.4%).


Return on Equity

High ROE: SBS's Return on Equity (9.3%) is considered low.


Return on Assets

ROA vs Industry: SBS's Return on Assets is below or equal to the Medical Equipment industry average last year.


Return on Capital Employed

ROCE Improving: SBS's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Stratec's financial position?


Financial Position Analysis

Short Term Liabilities: SBS's short term assets (€124.4M) exceeds its short term liabilities (€45.3M)

Long Term Liabilities: SBS's short term assets (€124.4M) exceeds its long term liabilities (€97.3M)


Debt to Equity History and Analysis

Debt Level: SBS's debt to equity ratio (50.6%) is considered high

Reducing Debt: SBS's debt to equity ratio has increased from 7.8% to 50.6% over the past 5 years.

Debt Coverage: SBS's debt is not well covered by operating cash flow (17.2%).

Interest Coverage: SBS's interest payments on its debt are well covered by EBIT (26.3x coverage).


Balance Sheet

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

Debt Coverage by Assets: SBS's debt is covered by short term assets (assets are 1.655070x debt).


Next Steps

Dividend

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

1.24%

Expected Dividend Yield


Dividend Yield vs Market

company1.1%marketbottom25%1.5%markettop25%3.9%industryaverage0.9%forecastin3Years1.2%

Current dividend yield vs market & industry


Dividend Yield and Payments Analysis

Notable Dividend: SBS's dividend (1.1%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.46%).

High Dividend: SBS's dividend (1.1%) is low compared to the top 25% of dividend payers in the German market (3.86%).

Stable Dividend: SBS's dividends per share have been stable in the past 10 years.

Growing Dividend: SBS's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (71.1%), SBS's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SBS's dividends in 3 years are forecast to be well covered by earnings (33.5% payout ratio).


Next Steps

Management

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

8.5yrs

Average management tenure


CEO

Marcus Wolfinger (52yo)

8.5yrs

Tenure

€1,064,000

Compensation

Mr. Marcus Wolfinger has been Chairman of Management Board and Chief Executive Officer at STRATEC Biomedical AG since April 01, 2011 and its Member of the Management Board since July 1999. Mr. Wolfinger ha ...


CEO Compensation Analysis

Compensation vs. Market: Marcus's total compensation ($USD1.18M) is about average for companies of similar size in the German market ($USD1.16M).

Compensation vs Earnings: Marcus's compensation has been consistent with company performance over the past year.


Management Age and Tenure

8.5yrs

Average Tenure

52yo

Average Age

Experienced Management: SBS's management team is seasoned and experienced (8.5 years average tenure).


Board Age and Tenure

2.3yrs

Average Tenure

53yo

Average Age

Experienced Board: SBS's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


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


Management Team

  • Marcus Wolfinger (52yo)

    Chairman of Board of Management & CEO

    • Tenure: 8.5yrs
    • Compensation: €1.06m
  • Robert Siegle (52yo)

    Director of Finance & Human Resources and Member of Board of Management

    • Tenure: 8.7yrs
    • Compensation: €765.00k
  • Hermann Leistner (73yo)

    Founder & Advisor

    • Tenure: 8.6yrs
  • Andre Loy

    Director of Corporate Communications

    • Tenure: 0yrs
  • Claus Vielsack (52yo)

    Director of Product Development & Member of Board of Management

    • Tenure: 5.7yrs
    • Compensation: €669.00k
  • Roland Utz

    Head of Supply Chain Management & Senior VP

    • Tenure: 0yrs
  • Sandra Eberle

    Head of Investor Relations

    • Tenure: 0yrs

Board Members

  • Frank Hiller (53yo)

    Chairman of the Supervisory Board

    • Tenure: 0.4yrs
  • Stefanie Remmele (41yo)

    Member of Supervisory Board

    • Tenure: 5.3yrs
    • Compensation: €29.00k
  • Rainer Baule (71yo)

    Deputy Chairman of Supervisory Board

    • Tenure: 2.3yrs
    • Compensation: €41.00k

Company Information

Stratec SE's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Stratec SE
  • Ticker: SBS
  • Exchange: XTRA
  • Founded: 1979
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: €893.641m
  • Shares outstanding: 12.01m
  • Website: https://www.stratec.com

Number of Employees


Location

  • Stratec SE
  • Gewerbestrasse 35-37
  • Birkenfeld
  • 75217
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SBSDB (Deutsche Boerse AG)YesRegistered SharesDEEUROct 1998
SBSSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFOct 1998
SBSXTRA (XETRA Trading Platform)YesRegistered SharesDEEUROct 1998
0RARLSE (London Stock Exchange)YesRegistered SharesGBEUROct 1998
SBSDBATS-CHIXE (BATS 'Chi-X Europe')YesRegistered SharesGBEUROct 1998

Biography

STRATEC SE designs and manufactures automation and instrumentation solutions in the fields of in-vitro diagnostics and life sciences in Germany and internationally. The company operates in three segments:  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/12 22:37
End of Day Share Price2019/10/11 00:00
Earnings2019/06/30
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.

© 2018 SIMPLY WALL STREET PTY LTD, COMMUNITY DESIGN 2845206, US DESIGN PATENT #29/544/281, EUROPEAN DESIGN REGISTRATION #2845206, STANDARD & POOR’S FINANCIAL SERVICES LLC. ALL RIGHTS RESERVED.

Simply Wall Street Pty Ltd (ACN 600 056 611), is a Corporate Authorised Representative (Authorised Representative Number: 467183) of Sanlam Private Wealth Pty Ltd (AFSL No. 337927). Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice. Please read our Financial Services Guide before deciding whether to obtain financial services from us.

Copyright © 2018, Standard & Poor’s Financial Services LLC. Reproduction of S&P Capital IQ in any form is prohibited except with the prior written permission of S&P. S&P does not guarantee the accuracy, adequacy, completeness or availability of any information and is not responsible for any errors or omissions, regardless of the cause or for the results obtained from the use of such information. S&P DISCLAIMS ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. In no event shall S&P be liable for any direct, indirect, special or consequential damages, costs, expenses, legal fees, or losses (including lost income or lost profit and opportunity costs) in connection with subscriber’s or others’ use of S&P Capital IQ. (2018)