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Drägerwerk KGaA

DB:DRW3
Snowflake Description

Excellent balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DRW3
DB
€812M
Market Cap
  1. Home
  2. DE
  3. Healthcare
Company description

Drägerwerk AG & Co. KGaA develops equipment and solutions in the fields of medical and safety technology in Europe, Americas, Africa, Asia, and Australia. The last earnings update was 117 days ago. More info.


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DRW3 Share Price and Events
7 Day Returns
-0%
DB:DRW3
-0.2%
DE Medical Equipment
1.2%
DE Market
1 Year Returns
-39.5%
DB:DRW3
20.3%
DE Medical Equipment
-11.2%
DE Market
DRW3 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Drägerwerk KGaA (DRW3) -0% 3.5% 6.4% -39.5% -17.5% -48.6%
DE Medical Equipment -0.2% 3.3% 4.7% 20.3% 71.9% 172.5%
DE Market 1.2% 2.7% 1.7% -11.2% 12% 6.1%
1 Year Return vs Industry and Market
  • DRW3 underperformed the Medical Equipment industry which returned 20.3% over the past year.
  • DRW3 underperformed the Market in Germany which returned -11.2% over the past year.
Price Volatility
DRW3
Industry
5yr Volatility vs Market
Related Companies

DRW3 Value

 Is Drägerwerk KGaA 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 Drägerwerk KGaA 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    Our calculation method for this is changing soon.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Drägerwerk KGaA.

DB:DRW3 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8%
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:DRW3
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 9.8%
Medical Equipment Unlevered Beta Simply Wall St/ S&P Global 0.4
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.403 (1 + (1- 30%) (27.26%))
0.48
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 * 9.77%)
8.05%

Discounted Cash Flow Calculation for DB:DRW3 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Drägerwerk KGaA is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:DRW3 DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (EUR, Millions) 43.13 50.78 75.50 99.70 112.10
Source Analyst x3 Analyst x5 Analyst x1 Analyst x1 Analyst x1
Present Value
Discounted (@ 8.05%)
39.92 43.50 59.86 73.16 76.13
Present value of next 5 years cash flows €292.57
DB:DRW3 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= €112.10 × (1 + 0.23%) ÷ (8.05% – 0.23%)
€1,437.21
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= €1,437.21 ÷ (1 + 8.05%)5
€976.08
DB:DRW3 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= €292.57 + €976.08
€1,268.65
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,268.65 / 17.76
€71.43
DB:DRW3 Discount to Share Price
Calculation Result
Value per share (EUR) From above. €71.43
Current discount Discount to share price of €49.84
= -1 x (€49.84 - €71.43) / €71.43
30.2%

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

Current Discount
Amount off the current price Drägerwerk KGaA is available for.
Intrinsic value
30%
Share price is €49.84 vs Future cash flow value of €71.43
Current Discount Checks
For Drägerwerk KGaA to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Drägerwerk KGaA's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Drägerwerk KGaA'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 Drägerwerk KGaA's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Drägerwerk KGaA's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:DRW3 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in EUR €2.08
DB:DRW3 Share Price ** DB (2019-02-22) in EUR €49.84
Germany Medical Equipment Industry PE Ratio Median Figure of 9 Publicly-Listed Medical Equipment Companies 29.31x
Germany Market PE Ratio Median Figure of 420 Publicly-Listed Companies 18.04x

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

** Primary Listing of Drägerwerk KGaA.

DB:DRW3 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= DB:DRW3 Share Price ÷ EPS (both in EUR)

= 49.84 ÷ 2.08

23.91x

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

  • Drägerwerk KGaA is good value based on earnings compared to the DE Medical Equipment industry average.
  • Drägerwerk KGaA is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Drägerwerk KGaA's expected growth come at a high price?
Raw Data
DB:DRW3 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.91x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
27.3%per year
Germany Medical Equipment Industry PEG Ratio Median Figure of 6 Publicly-Listed Medical Equipment Companies 2.81x
Germany Market PEG Ratio Median Figure of 277 Publicly-Listed Companies 1.4x

*Line of best fit is calculated by linear regression .

DB:DRW3 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 23.91x ÷ 27.3%

0.88x

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

  • Drägerwerk KGaA is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Drägerwerk KGaA's assets?
Raw Data
DB:DRW3 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in EUR €57.58
DB:DRW3 Share Price * DB (2019-02-22) in EUR €49.84
Germany Medical Equipment Industry PB Ratio Median Figure of 13 Publicly-Listed Medical Equipment Companies 4.08x
Germany Market PB Ratio Median Figure of 565 Publicly-Listed Companies 1.78x
DB:DRW3 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= DB:DRW3 Share Price ÷ Book Value per Share (both in EUR)

= 49.84 ÷ 57.58

0.87x

* Primary Listing of Drägerwerk KGaA.

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

  • Drägerwerk KGaA is good value based on assets compared to the DE Medical Equipment industry average.
X
Value checks
We assess Drägerwerk KGaA'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 Medical Equipment 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 Medical Equipment industry average (and greater than 0)? (1 check)
  5. Drägerwerk KGaA 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.

DRW3 Future Performance

 How is Drägerwerk KGaA expected to perform in the next 1 to 3 years based on estimates from 8 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
27.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Drägerwerk KGaA expected to grow at an attractive rate?
  • Drägerwerk KGaA's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Drägerwerk KGaA's earnings growth is expected to exceed the Germany market average.
  • Drägerwerk KGaA's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:DRW3 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:DRW3 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 27.3%
DB:DRW3 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 3.2%
Germany Medical Equipment Industry Earnings Growth Rate Market Cap Weighted Average 11.8%
Germany Medical Equipment Industry Revenue Growth Rate Market Cap Weighted Average 6.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 10%
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:DRW3 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:DRW3 Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 3,047 217 130 3
2022-12-31 2,946 202 102 3
2021-12-31 2,849 175 84 3
2020-12-31 2,773 143 71 8
2019-12-31 2,676 119 46 8
2018-12-31 2,602 92 36 7
DB:DRW3 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-09-30 2,564 23 16
2018-06-30 2,572 45 37
2018-03-31 2,533 91 46
2017-12-31 2,572 143 74
2017-09-30 2,556 183 73
2017-06-30 2,528 184 70
2017-03-31 2,526 213 74
2016-12-31 2,524 195 61
2016-09-30 2,530 138 48
2016-06-30 2,541 149 17
2016-03-31 2,596 113 15
2015-12-31 2,609 40 25

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Drägerwerk KGaA's earnings are expected to grow significantly at over 20% yearly.
  • Drägerwerk KGaA's revenue is expected to grow by 3.2% 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:DRW3 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Drägerwerk KGaA Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:DRW3 Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 5.00 5.00 5.00 1.00
2021-12-31 4.35 4.35 4.35 1.00
2020-12-31 4.02 5.27 3.45 6.00
2019-12-31 2.46 4.12 1.47 7.00
2018-12-31 2.02 2.15 1.91 3.00
DB:DRW3 Past Financials Data
Date (Data in EUR Millions) EPS *
2018-09-30
2018-06-30 2.08
2018-03-31
2017-12-31 4.14
2017-09-30
2017-06-30 3.95
2017-03-31
2016-12-31 3.43
2016-09-30
2016-06-30 0.94
2016-03-31
2015-12-31 1.42

*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.
  • Drägerwerk KGaA is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Drägerwerk KGaA'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.
Drägerwerk KGaA has a total score of 3/6, 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.

DRW3 Past Performance

  How has Drägerwerk KGaA 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 Drägerwerk KGaA's growth in the last year to its industry (Medical Equipment).
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.
  • Drägerwerk KGaA's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Drägerwerk KGaA's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Drägerwerk KGaA's 1-year earnings growth is negative, it can't be compared to the DE Medical Equipment industry average.
Earnings and Revenue History
Drägerwerk KGaA'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 Drägerwerk KGaA Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:DRW3 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 2,564.35 15.93 795.25 254.64
2018-06-30 2,572.06 37.02 791.13 250.67
2018-03-31 2,532.86 45.87 770.31 240.65
2017-12-31 2,572.26 73.60 769.72 234.67
2017-09-30 2,556.48 73.18 769.43 227.32
2017-06-30 2,528.39 70.13 766.74 221.00
2017-03-31 2,526.40 73.57 765.37 220.82
2016-12-31 2,523.84 60.85 767.83 219.02
2016-09-30 2,529.71 47.78 811.75 219.57
2016-06-30 2,540.81 16.69 831.40 226.19
2016-03-31 2,595.80 14.63 856.42 229.01
2015-12-31 2,608.92 25.05 867.60 231.10
2015-09-30 2,553.28 46.48 817.57 231.53
2015-06-30 2,541.05 90.15 797.29 223.25
2015-03-31 2,466.97 84.76 774.94 218.04
2014-12-31 2,434.66 96.60 749.70 212.02
2014-09-30 2,383.10 94.04 741.84 205.91
2014-06-30 2,346.68 84.65 732.37 205.12
2014-03-31 2,353.53 101.12 732.99 203.38
2013-12-31 2,374.16 114.55 745.42 201.53
2013-09-30 2,382.84 112.81 754.35 203.35
2013-06-30 2,401.42 120.23 755.64 203.49
2013-03-31 2,378.06 123.92 755.02 199.55
2012-12-31 2,373.50 127.04 743.30 197.34
2012-09-30 2,345.16 126.43 751.95 190.30
2012-06-30 2,295.22 124.67 746.64 177.93
2012-03-31 2,284.84 123.43 737.06 169.14

*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.
  • Drägerwerk KGaA has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Drägerwerk KGaA used its assets less efficiently than the DE Medical Equipment industry average last year based on Return on Assets.
  • Drägerwerk KGaA's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Drägerwerk KGaA'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 Medical Equipment 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.
Drägerwerk KGaA 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.

DRW3 Health

 How is Drägerwerk KGaA'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 Drägerwerk KGaA's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Drägerwerk KGaA is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Drägerwerk KGaA's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Drägerwerk KGaA'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 covered by short term assets, assets are 6.2x 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 Drägerwerk KGaA Company Filings, last reported 4 months ago.

DB:DRW3 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 1,028.76 221.37 168.22
2018-06-30 1,022.97 233.99 178.87
2018-03-31 1,041.48 231.72 242.46
2017-12-31 1,068.34 244.53 248.12
2017-09-30 1,008.76 230.50 234.19
2017-06-30 1,000.19 230.84 218.38
2017-03-31 1,013.54 237.93 244.46
2016-12-31 1,003.52 281.96 222.07
2016-09-30 894.08 307.96 212.65
2016-06-30 895.03 325.36 205.89
2016-03-31 907.84 342.15 225.53
2015-12-31 945.93 343.07 175.92
2015-09-30 898.08 305.35 168.27
2015-06-30 931.10 332.70 187.53
2015-03-31 899.67 302.57 219.04
2014-12-31 896.61 328.39 298.28
2014-09-30 839.04 314.95 219.32
2014-06-30 808.87 325.64 216.17
2014-03-31 826.27 326.34 253.08
2013-12-31 815.97 364.65 233.52
2013-09-30 765.68 344.92 258.13
2013-06-30 751.88 347.64 227.48
2013-03-31 765.25 384.69 316.11
2012-12-31 729.66 411.83 336.32
2012-09-30 681.39 467.13 348.70
2012-06-30 701.48 470.20 331.15
2012-03-31 666.76 469.26 338.41
  • Drägerwerk KGaA's level of debt (21.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (45% vs 21.5% today).
  • Debt is not well covered by operating cash flow (10.3%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.4x coverage).
X
Financial health checks
We assess Drägerwerk KGaA'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. Drägerwerk KGaA 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.

DRW3 Dividends

 What is Drägerwerk KGaA'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
0.92%
Current annual income from Drägerwerk KGaA dividends. Estimated to be 0.81% next year.
If you bought €2,000 of Drägerwerk KGaA shares you are expected to receive €18 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?
  • Drägerwerk KGaA's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.54%).
  • Drägerwerk KGaA's dividend is below the markets top 25% of dividend payers in Germany (3.93%).
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:DRW3 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 8 Analyst Estimates (S&P Global) See Below
Germany Medical Equipment Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 1.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 332 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
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:DRW3 Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 0.57 1.00
2021-12-31 0.50 1.00
2020-12-31 0.44 7.00
2019-12-31 0.33 7.00
2018-12-31 0.26 5.00
DB:DRW3 Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-03-08 0.460 0.790
2017-03-08 0.190 0.217
2016-03-08 0.190 0.292
2015-03-19 1.390 1.775
2014-03-06 0.830 1.047
2013-03-12 0.920 0.967
2012-08-02 0.190 0.242
2012-02-29 0.190 0.234
2011-03-16 1.190 1.669
2010-03-31 0.400 0.705
2009-03-19 0.350 1.431
2009-02-24 0.550 3.676

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Drägerwerk KGaA's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.5x coverage).
Future Payout to shareholders
  • No need to calculate the sustainability of Drägerwerk KGaA's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess Drägerwerk KGaA's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 Drägerwerk KGaA afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Drägerwerk KGaA has a total score of 1/6, see the detailed checks below.


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

DRW3 Management

 What is the CEO of Drägerwerk KGaA'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
Stefan Dräger
COMPENSATION €1,439,109
AGE 55
TENURE AS CEO 13.6 years
CEO Bio

Mr. Stefan A. Dräger, Dipl.-Ing. (BA), has been the Chief Executive Officer and Chairman of the Executive Board at Drägerwerk Verwaltungs AG, a General Partner of Dragerwerk AG & Co. KGaA since July 1, 2005 and its Chairman of Executive Board since July 1, 2005. Mr. Dräger has been Managing Director of Dräger Medical GmbH since December 19, 2016. Mr. Dräger serves as Chairman of the Executive Board at Dragerwerk Verwaltungs AG and Dräger Safety Verwaltungs AG. Mr. Dräger has been a Member of Executive Board at Drägerwerk Verwaltungs Ag since 2003. He has been Managing Director at Drager Medical GmbH since December 19, 2006. He joined Draegerwerk AG in 1992. He is Owner of Drägerwerk Verwaltungs Ag. He served as Deputy Chief Executive Officer at Dragerwerk Ag & Co. KGaA from March 2005 to June 30, 2005 and also as Head of its Corporate Functions. He serves as a Member of the Supervisory Board at Sparkasse zu Lübeck AG. Mr. Dräger served as Member of the Advisory Board IKB Deutsche Industriebank Aktiengesellschaft until August 11, 2017.

CEO Compensation
  • Stefan's compensation has been consistent with company performance over the past year.
  • Stefan's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Drägerwerk KGaA management team in years:

3.7
Average Tenure
50.5
Average Age
  • The tenure for the Drägerwerk KGaA management team is about average.
Management Team

Stefan Dräger

TITLE
Chairman of Executive Board & CEO - Drägerwerk Verwaltungs AG
COMPENSATION
€1M
AGE
55
TENURE
13.6 yrs

Gert-Hartwig Lescow

TITLE
Vice Chairman of Executive Board & CFO - Drägerwerk Verwaltungs AG
COMPENSATION
€984K
AGE
51
TENURE
3.8 yrs

Toni Schrofner

TITLE
Executive Board Member & Chief Officer Innovation
COMPENSATION
€812K
AGE
55
TENURE
3.8 yrs

Rainer Klug

TITLE
Executive Board Member of Purchasing
COMPENSATION
€788K
AGE
50
TENURE
3.5 yrs

Reiner Piske

TITLE
Executive Board Member of HR & Member of Executive Board - Drägerwerk Verwaltungs AG
COMPENSATION
€631K
AGE
48
TENURE
3.3 yrs

Stephan Kruse

TITLE
Head of Global Operations & Member of Supervisory Board
AGE
48
TENURE
2.1 yrs

Welf Böttcher

TITLE
Head of Corporate Communications
Board of Directors Tenure

Average tenure and age of the Drägerwerk KGaA board of directors in years:

10.8
Average Tenure
59
Average Age
  • The average tenure for the Drägerwerk KGaA board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Stefan Lauer

TITLE
Chairman
COMPENSATION
€31K
AGE
63
TENURE
0.8 yrs

Siegfrid Kasang

TITLE
Vice Chairman of Supervisory Board
COMPENSATION
€56K
AGE
61
TENURE
14.1 yrs

Stephan Kruse

TITLE
Head of Global Operations & Member of Supervisory Board
AGE
48
TENURE
0.8 yrs

Thorsten Grenz

TITLE
Member of Supervisory Board
COMPENSATION
€51K
AGE
60
TENURE
10.8 yrs

Thomas Rickers

TITLE
Member of Supervisory Board
COMPENSATION
€31K
AGE
58
TENURE
19.1 yrs

Daniel Friedrich

TITLE
Member of Supervisory Board
COMPENSATION
€41K
AGE
43
TENURE
12.4 yrs

Reinhard Zinkann

TITLE
Member of Supervisory Board
COMPENSATION
€31K
AGE
59
TENURE
10.8 yrs

Uwe Lüders

TITLE
Member of Supervisory Board
COMPENSATION
€31K
AGE
66
TENURE
10.8 yrs

Nike Benten

TITLE
Member of Supervisory Board
COMPENSATION
€31K
TENURE
3 yrs

Bettina van Almsick

TITLE
Member of Supervisory Board
COMPENSATION
€31K
AGE
59
TENURE
2.7 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 Drägerwerk KGaA'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. Drägerwerk KGaA 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.

DRW3 News

Simply Wall St News

Is Drägerwerk AG & Co KGaA's (FRA:DRW3) Balance Sheet A Threat To Its Future?

Investors are always looking for growth in small-cap stocks like Drägerwerk AG & Co KGaA (FRA:DRW3), with a market cap of €1.10b. … However, an important fact which most ignore is: how financially healthy is the business? … Companies operating in the Medical Equipment industry,.

Simply Wall St -

DRW3 Company Info

Map
Description

Drägerwerk AG & Co. KGaA develops equipment and solutions in the fields of medical and safety technology in Europe, Americas, Africa, Asia, and Australia. The company develops, produces, and markets system solutions, equipment, and services for acute point of care, including emergency care, perioperative care, critical care, and perinatal care. It also develops, produces, and markets products, system solutions, and services for personal protection, gas detection technology, and integrated hazard management to customers in industry and mining sectors, as well as public sectors, such as fire departments, police, and disaster protection. The company’s products portfolio includes products for therapy, monitoring, information management, and process support; products for ventilation, anesthetics, and warming therapy, as well as related accessories and consumables; and system products comprising integrated IT solutions for the operating room and gas management systems. Its product portfolio also comprises stationary and mobile gas detection systems, personal protective equipment, professional diving systems, and alcohol and drug testing devices. In addition, the company offers various training and services, as well as undertakes projects that include fire training systems and interchangeable special units for tunnel rescue trains. Drägerwerk AG & Co. KGaA was founded in 1889 and is headquartered in Lübeck, Germany.

Details
Name: Drägerwerk AG & Co. KGaA
DRW3
Exchange: DB
Founded: 1889
€812,108,000
17,760,000
Website: http://www.draeger.com
Address: Drägerwerk AG & Co. KGaA
Moislinger Allee 53-55,
Lübeck,
23558,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
DB DRW3 Preferred Shares Deutsche Boerse AG DE EUR 02. Jan 1992
OTCPK DRWK.F Preferred Shares Pink Sheets LLC US USD 02. Jan 1992
XTRA DRW3 Preferred Shares XETRA Trading Platform DE EUR 02. Jan 1992
LSE 0K5E Preferred Shares London Stock Exchange GB EUR 02. Jan 1992
SWX DRW3 Preferred Shares SIX Swiss Exchange CH CHF 02. Jan 1992
WBAG DRW3 Preferred Shares Wiener Boerse AG AT EUR 02. Jan 1992
BATS-CHIXE DRW3D Preferred Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
DB DRW1 DIVD RTS CTFS D Deutsche Boerse AG DE EUR 02. Sep 1998
DB DRW7 GENUSSSCHEINE EUR25.56 (PERPETUAL) SER.K Deutsche Boerse AG DE EUR 26. Nov 1993
DB DRW5 GENUSSSCHEINE EUR25.56 (PERPETUAL) SER.A Deutsche Boerse AG DE EUR 02. Jan 1992
XTRA DRW8 Common Shares XETRA Trading Platform DE EUR 21. Jun 2010
OTCPK DWRK.F DIVD RTS CTFS D Pink Sheets LLC US USD 02. Sep 1998
OTCPK DGWP.F Common Shares Pink Sheets LLC US USD 21. Jun 2010
DB DRW8 Common Shares Deutsche Boerse AG DE EUR 21. Jun 2010
LSE 0MT8 Common Shares London Stock Exchange GB EUR 21. Jun 2010
BATS-CHIXE DRW8D Common Shares BATS 'Chi-X Europe' GB EUR 21. Jun 2010
Number of employees
Current staff
Staff numbers
14,233
Drägerwerk KGaA employees.
Industry
Health Care Equipment
Healthcare
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/23 20:37
End of day share price update: 2019/02/22 00:00
Last estimates confirmation: 2019/01/22
Last earnings filing: 2018/10/29
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


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.