DB:PHH2

Stock Analysis Report

Executive Summary

Paul Hartmann AG manufactures and sells medical and hygiene products for wound care, incontinence, disinfection, and surgical efficiency in Europe, North and South America, Africa, Asia, and Oceania.

Snowflake

Fundamentals

Flawless balance sheet average dividend payer.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0%

PHH2

-1.8%

DE Medical Equipment

2.4%

DE Market


1 Year Return

-11.2%

PHH2

16.5%

DE Medical Equipment

2.3%

DE Market

Return vs Industry: PHH2 underperformed the German Medical Equipment industry which returned 16.5% over the past year.

Return vs Market: PHH2 underperformed the German Market which returned 2.3% over the past year.


Shareholder returns

PHH2IndustryMarket
7 Day0%-1.8%2.4%
30 Day2.7%1.0%-0.2%
90 Day0.7%-0.7%0.6%
1 Year-9.2%-11.2%18.4%16.5%5.5%2.3%
3 Year-18.7%-23.3%104.9%99.7%18.9%8.6%
5 Year9.6%0%295.5%275.7%44.8%25.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Paul Hartmann undervalued compared to its fair value and its price relative to the market?

14.46x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: PHH2 (€300) is trading above our estimate of fair value (€180.06)

Significantly Undervalued: PHH2 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: PHH2 is good value based on its PE Ratio (14.5x) compared to the Medical Equipment industry average (34.4x).

PE vs Market: PHH2 is good value based on its PE Ratio (14.5x) compared to the German market (19.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate PHH2's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: PHH2 is good value based on its PB Ratio (1.2x) compared to the DE Medical Equipment industry average (6.1x).


Next Steps

Future Growth

How is Paul Hartmann forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

15.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PHH2's forecast earnings growth (15.4% per year) is above the savings rate (0.2%).

Earnings vs Market: PHH2's earnings (15.4% per year) are forecast to grow faster than the German market (12.6% per year).

High Growth Earnings: PHH2's earnings are forecast to grow, but not significantly.

Revenue vs Market: Insufficient data to determine if PHH2's revenue is forecast to grow faster than the German market.

High Growth Revenue: Insufficient data to determine if PHH2's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if PHH2's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Paul Hartmann performed over the past 5 years?

2.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: PHH2's earnings have grown by 2.7% per year over the past 5 years.

Accelerating Growth: PHH2's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: PHH2 had negative earnings growth (-12.8%) over the past year, making it difficult to compare to the Medical Equipment industry average (6.4%).


Return on Equity

High ROE: PHH2's Return on Equity (8.7%) is considered low.


Return on Assets

ROA vs Industry: PHH2's Return on Assets is below or equal to the Medical Equipment industry average last year.


Return on Capital Employed

ROCE Improving: PHH2's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Paul Hartmann's financial position?


Financial Position Analysis

Short Term Liabilities: PHH2's short term assets (€867.6M) exceeds its short term liabilities (€400.7M)

Long Term Liabilities: PHH2's short term assets (867.6M) exceeds its long term liabilities (301.6M)


Debt to Equity History and Analysis

Debt Level: PHH2's debt to equity ratio (11.9%) is considered satisfactory

Reducing Debt: PHH2's debt to equity ratio has reduced from 21.6% to 11.9% over the past 5 years.

Debt Coverage: PHH2's debt is well covered by operating cash flow (130.2%).

Interest Coverage: PHH2's interest payments on its debt are well covered by EBIT (68x coverage).


Balance Sheet

Inventory Level: PHH2 has a high level of physical assets or inventory.

Debt Coverage by Assets: PHH2's debt is covered by short term assets (assets are 8.125670x debt).


Next Steps

Dividend

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

2.33%

Current Dividend Yield


Dividend Yield vs Market

company2.3%marketbottom25%1.4%markettop25%3.9%industryaverage1.4%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: PHH2's dividend (2.33%) is higher than the bottom 25% of dividend payers in the German market (1.43%).

High Dividend: PHH2's dividend (2.33%) is low compared to the top 25% of dividend payers in the German market (3.86%).

Stable Dividend: PHH2's dividends per share have been stable in the past 10 years.

Growing Dividend: PHH2's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (33.7%), PHH2's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

8.8yrs

Average management tenure


CEO

Britta Fuenfstueck 0

0.8yrs

Tenure

0

Ms. Britta Fuenfstueck has been Chief Executive Officer at Paul Hartmann AG since January 1, 2019 and its Management Board since January 1, 2019. Ms. Fuenfstueck served as Chairman of the Management Board  ...


Management Age and Tenure

8.8yrs

Average Tenure

Experienced Management: PHH2's management team is seasoned and experienced (8.8 years average tenure).


Board Age and Tenure

11.5yrs

Average Tenure

Experienced Board: PHH2's board of directors are seasoned and experienced ( 11.5 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


Management Team

  • Stephan Schulz (54yo)

    CFO, Labor Director & Member of the Management Board

    • Tenure: 10.4yrs
  • Raymund Heinen

    Chief Process Officer & Member of the Management Board

    • Tenure: 4yrs
  • Michel Kuehn (65yo)

    Chief Commercial Officer of Hygiene & Member of Management Board

    • Tenure: 11yrs
  • Michael Banz

    Vice President of Corporate Legal

    • Tenure: 0yrs
  • Ralf Fenske

    Senior Vice President of Corporate Accounting

    • Tenure: 0yrs
  • Peter Halbauer

    Head of Group Purchasing Management

    • Tenure: 11.8yrs
  • Gabriele Müller

    Vice President of Human Resources Management

    • Tenure: 8.8yrs
  • Michael Brauner

    Executive Managing Director of SANIMED Group Germany

    • Tenure: 6.1yrs
  • Christian Sievert

    Senior Vice President Business Unit Risk Prevention

    • Tenure: 0yrs
  • Britta Fuenfstueck

    CEO & Member of Management Board

    • Tenure: 0.8yrs

Board Members

  • Joachim Schielke (70yo)

    Member of Supervisory Board

    • Tenure: 11.5yrs
    • Compensation: €22.50k
  • Fritz-Jürgen Heckmann

    Chairman of Supervisory Board

    • Tenure: 14.3yrs
    • Compensation: €69.50k
  • Werner Casper

    Member of Supervisory Board

    • Tenure: 0yrs
    • Compensation: €22.50k
  • Eduard Schleicher

    Member of Supervisory Board

    • Tenure: 11.5yrs
    • Compensation: €53.83k
  • Gerhard Hirth

    Member of Supervisory Board

    • Tenure: 11.5yrs
    • Compensation: €22.50k
  • Rinaldo Riguzzi (73yo)

    Member of Supervisory Board

    • Tenure: 6.3yrs
  • Christine Geppert

    Member of Supervisory Board

    • Tenure: 0yrs
    • Compensation: €22.50k
  • Wolfgang Röhrl

    Vice President Operations Management Medical Production & Member of Supervisory Board

    • Tenure: 1.8yrs
  • Ralf Willeck

    Deputy Chairman of the Supervisory Board

    • Tenure: 0yrs
  • Yvonne Brix

    Member of Supervisory Board

    • Tenure: 6.4yrs

Company Information

Paul Hartmann AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Paul Hartmann AG
  • Ticker: PHH2
  • Exchange: DB
  • Founded: 1818
  • Industry: Health Care Supplies
  • Sector: Healthcare
  • Market Cap: €1.066b
  • Shares outstanding: 3.55m
  • Website: https://hartmann.info

Number of Employees


Location

  • Paul Hartmann AG
  • Paul-Hartmann-Strasse 12
  • Heidenheim
  • Baden-Württemberg
  • 89522
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PHH2DB (Deutsche Boerse AG)YesCommon SharesDEEURJan 1992
PLHN.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDJan 1992

Biography

Paul Hartmann AG manufactures and sells medical and hygiene products for wound care, incontinence, disinfection, and surgical efficiency in Europe, North and South America, Africa, Asia, and Oceania. The c ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 20:43
End of Day Share Price2019/10/14 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.