XTRA:NBG6

Stock Analysis Report

NÜRNBERGER Beteiligungs-AG

Executive Summary

NÜRNBERGER Beteiligungs-AG operates as an insurance company in Germany.

Snowflake

Fundamentals

Undervalued established dividend payer.

Risks

  • NÜRNBERGER Beteiligungs-AG is not covered by any analysts.

Share Price & News

How has NÜRNBERGER Beteiligungs-AG's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0%

XTRA:NBG6

0.5%

DE Insurance

-0.7%

DE Market


1 Year Return

-1.4%

XTRA:NBG6

21.2%

DE Insurance

-7.6%

DE Market

NBG6 underperformed the Insurance industry which returned 21.2% over the past year.

NBG6 outperformed the Market in Germany which returned -7.6% over the past year.


Share holder returns

NBG6IndustryMarket
7 Day0%0.5%-0.7%
30 Day0%2.1%-0.8%
90 Day-4.2%2.1%-3.8%
1 Year2.9%-1.4%26.5%21.2%-4.7%-7.6%
3 Year40.0%23.2%85.4%63.0%18.4%8.2%
5 Year17.3%-5.5%101.2%61.1%28.8%11.1%

Price Volatility Vs. Market

How volatile is NÜRNBERGER Beteiligungs-AG's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is NÜRNBERGER Beteiligungs-AG undervalued based on future cash flows and its price relative to the stock market?

48%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

NÜRNBERGER Beteiligungs-AG's share price is below the future cash flow value, and at a moderate discount (> 20%).

NÜRNBERGER Beteiligungs-AG's share price is below the future cash flow value, and at a substantial discount (> 40%).


Price Based on Earnings

NÜRNBERGER Beteiligungs-AG is good value based on earnings compared to the DE Insurance industry average.

NÜRNBERGER Beteiligungs-AG is good value based on earnings compared to the Germany market.


Price Based on Expected Growth

Unable to calculate PEG ratio for NÜRNBERGER Beteiligungs-AG, we can't assess if its growth is good value.


Price Based on Value of Assets

NÜRNBERGER Beteiligungs-AG is good value based on assets compared to the DE Insurance industry average.


Next Steps

Future Growth

How is NÜRNBERGER Beteiligungs-AG expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

3.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Unable to determine if NÜRNBERGER Beteiligungs-AG is high growth as no revenue estimate data is available.

NÜRNBERGER Beteiligungs-AG's earnings are expected to grow by 3.9% yearly, however this is not considered high growth (20% yearly).

Unable to compare NÜRNBERGER Beteiligungs-AG's revenue growth to the Germany market average as no estimate data is available.

NÜRNBERGER Beteiligungs-AG's earnings growth is positive but not above the Germany market average.

NÜRNBERGER Beteiligungs-AG's earnings growth is expected to exceed the low risk savings rate of 0.2%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if NÜRNBERGER Beteiligungs-AG will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has NÜRNBERGER Beteiligungs-AG performed over the past 5 years?

-3.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

NÜRNBERGER Beteiligungs-AG's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.

NÜRNBERGER Beteiligungs-AG's 1-year earnings growth is negative, it can't be compared to the 5-year average.

NÜRNBERGER Beteiligungs-AG's 1-year earnings growth is negative, it can't be compared to the DE Insurance industry average.


Return on Equity

NÜRNBERGER Beteiligungs-AG has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

NÜRNBERGER Beteiligungs-AG used its assets less efficiently than the DE Insurance industry average last year based on Return on Assets.


Return on Capital Employed

It is difficult to establish if NÜRNBERGER Beteiligungs-AG improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.


Next Steps

Financial Health

How is NÜRNBERGER Beteiligungs-AG's financial position?


Financial Position Analysis

NÜRNBERGER Beteiligungs-AG's short term (1 year) commitments are greater than its holdings of cash and other short term assets.

NÜRNBERGER Beteiligungs-AG's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

NÜRNBERGER Beteiligungs-AG's level of debt (3.5%) 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 (37.1% vs 3.5% today).

Operating cash flow is negative therefore debt is not well covered.

Unable to confirm if the interest payments on NÜRNBERGER Beteiligungs-AG's debt are well covered by earnings due to lack of past financial data.


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 32.3x debt.


Next Steps

Dividend

What is NÜRNBERGER Beteiligungs-AG's current dividend yield, its reliability and sustainability?

4.55%

Current Dividend Yield


Dividend Yield and Payments Analysis

NÜRNBERGER Beteiligungs-AG's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.48%).

NÜRNBERGER Beteiligungs-AG's dividend is above the markets top 25% of dividend payers in Germany (3.92%).

Dividends per share have been stable in the past 10 years.

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are covered by earnings (1.7x coverage).


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of NÜRNBERGER Beteiligungs-AG's salary, the management and board of directors tenure and is there insider trading?

2.5yrs

Average management tenure


CEO

Armin Zitzmann (58yo)

6.5yrs

Tenure

€2,009,000

Compensation

Dr. Armin Zitzmann serves as Chairman of the Supervisory Board of the Nurnberger Allgemeine Versicherungs-AG and NÜRNBERGER Lebensversicherung AG. Dr. Zitzmann serves as the Chairman of Management Board at ...


CEO Compensation Analysis

Armin's remuneration is higher than average for companies of similar size in Germany.

Armin's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Management Age and Tenure

2.5yrs

Average Tenure

The tenure for the NÜRNBERGER Beteiligungs-AG management team is about average.


Board Age and Tenure

1.3yrs

Average Tenure

The average tenure for the NÜRNBERGER Beteiligungs-AG board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month individual insider trading information.


Ownership Breakdown


Management Team

  • Armin Zitzmann (58yo)

    Chairman of the Management board

    • Tenure: 6.5yrs
    • Compensation: 2.01m
  • Walter Bockshecker

    Member of Management Board

    • Tenure: 15.3yrs
    • Compensation: 1.16m
  • Jürgen Voß

    Head of Capital Investments - Banking Business & Member of Management Board

    • Tenure: 2.5yrs
    • Compensation: 893.00k
  • Uwe Carr

    Investor Relations

  • Martin Seibold

    Member of Management Board

    • Tenure: 1.5yrs
    • Compensation: 764.00k
  • Harald Rosenberger

    Member of Management Board

    • Tenure: 0.5yrs

Board Members

  • Wolf-Rüdiger Knocke

    Chairman of Supervisory Board

    • Tenure: 1.3yrs
    • Compensation: 882.00k
  • Franz Kranzler

    Supervisory Board Member

    • Tenure: 1.3yrs
  • Nadine Gatzert

    Supervisory Board Member

    • Tenure: 1.3yrs
  • Axel Wrosch

    Employee Representative Supervisory Board Member

    • Tenure: 1.3yrs
  • Holger Haas

    Supervisory Board Member

    • Tenure: 1.3yrs
  • Peter Forster

    Employee Representative Supervisory Board Member

    • Tenure: 2.5yrs
  • Eva Amschler

    Supervisory Board Vice Chairman

    • Tenure: 2.4yrs
  • Thomas Krummen

    Employee Representative Supervisory Board Member

    • Tenure: 6.3yrs
  • Stefanie Schulze

    Employee Representative Supervisory Board Member

    • Tenure: 1.3yrs
  • Dagmar Wöhrl (65yo)

    Supervisory Board Member

    • Tenure: 6.8yrs

Company Information

NÜRNBERGER Beteiligungs-AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: NÜRNBERGER Beteiligungs-AG
  • Ticker: NBG6
  • Exchange: XTRA
  • Founded: 1884
  • Industry: multi-line insurance
  • Sector: insurance
  • Market Cap: €758.526m
  • Shares outstanding: 11.49m
  • Website: Click here

Number of Employees


Location

  • NÜRNBERGER Beteiligungs-AG
  • Ostendstrasse 100
  • Nuremberg
  • Bavaria
  • 90334
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NBG6DB (Deutsche Boerse AG)YesSeries B Registered SharesDEEURJan 1992
NBG6XTRA (XETRA Trading Platform)YesSeries B Registered SharesDEEURJan 1992

Biography

NÜRNBERGER Beteiligungs-AG operates as an insurance company in Germany. The company offers car, motorcycle, oldtimerversicherung, long-term care, protection, life, and pension insurance products; personal, ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/07/21 22:43
End of Day Share Price2019/07/19 00:00
Earnings2018/12/31
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.