Executive Summary
Ströer SE & Co. KGaA provides out-of-home and online advertising services to private and corporate customers in Germany, Turkey, and internationally.
Rewards
Risk Analysis
Snowflake Analysis
Reasonable growth potential with mediocre balance sheet.
Similar Companies
Share Price & News
How has Ströer SE KGaA's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SAX has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-0.9%
SAX
1.4%
DE Media
-0.2%
DE Market
1 Year Return
51.3%
SAX
7.0%
DE Media
13.7%
DE Market
Return vs Industry: SAX exceeded the German Media industry which returned 7% over the past year.
Return vs Market: SAX exceeded the German Market which returned 13.7% over the past year.
Shareholder returns
| SAX | Industry | Market | |
|---|---|---|---|
| 7 Day | -0.9% | 1.4% | -0.2% |
| 30 Day | 3.4% | -0.5% | 0.3% |
| 90 Day | 8.4% | 2.2% | 3.7% |
| 1 Year | 56.5%51.3% | 12.4%7.0% | 17.2%13.7% |
| 3 Year | 69.1%56.7% | -16.7%-27.6% | 15.4%5.3% |
| 5 Year | 203.5%174.3% | -18.1%-35.2% | 21.3%4.7% |
Price Volatility Vs. Market
How volatile is Ströer SE KGaA's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 day ago | Simply Wall St
Is Ströer SE KGaA (ETR:SAX) A Risky Investment?2 weeks ago | Simply Wall St
Can We See Significant Insider Ownership On The Ströer SE & Co. KGaA (ETR:SAX) Share Register?4 weeks ago | Simply Wall St
Don't Sell Ströer SE & Co. KGaA (ETR:SAX) Before You Read ThisValuation
Is Ströer SE KGaA undervalued compared to its fair value and its price relative to the market?
31.1%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SAX (€76.8) is trading below our estimate of fair value (€111.39)
Significantly Below Fair Value: SAX is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SAX is poor value based on its PE Ratio (39.6x) compared to the Media industry average (28.9x).
PE vs Market: SAX is poor value based on its PE Ratio (39.6x) compared to the German market (20.9x).
Price to Earnings Growth Ratio
PEG Ratio: SAX is poor value based on its PEG Ratio (2x)
Price to Book Ratio
PB vs Industry: SAX is overvalued based on its PB Ratio (7.4x) compared to the DE Media industry average (2.9x).
Next Steps
Future Growth
How is Ströer SE KGaA forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?
19.9%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SAX's forecast earnings growth (19.9% per year) is above the savings rate (-0.4%).
Earnings vs Market: SAX's earnings (19.9% per year) are forecast to grow faster than the German market (13.1% per year).
High Growth Earnings: SAX's earnings are forecast to grow, but not significantly.
Revenue vs Market: SAX's revenue (5.7% per year) is forecast to grow faster than the German market (5% per year).
High Growth Revenue: SAX's revenue (5.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: SAX's Return on Equity is forecast to be high in 3 years time (36.8%)
Next Steps
Past Performance
How has Ströer SE KGaA performed over the past 5 years?
26.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SAX has high quality earnings.
Growing Profit Margin: SAX's current net profit margins (6.2%) are lower than last year (7.2%).
Past Earnings Growth Analysis
Earnings Trend: SAX's earnings have grown significantly by 26.5% per year over the past 5 years.
Accelerating Growth: SAX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: SAX had negative earnings growth (-6.5%) over the past year, making it difficult to compare to the Media industry average (-8.9%).
Return on Equity
High ROE: SAX's Return on Equity (18.5%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Ströer SE KGaA's financial position?
Financial Position Analysis
Short Term Liabilities: SAX's short term assets (€350.5M) do not cover its short term liabilities (€532.6M).
Long Term Liabilities: SAX's short term assets (€350.5M) do not cover its long term liabilities (€1.8B).
Debt to Equity History and Analysis
Debt Level: SAX's debt to equity ratio (112.9%) is considered high.
Reducing Debt: SAX's debt to equity ratio has reduced from 117.5% to 112.9% over the past 5 years.
Debt Coverage: SAX's debt is well covered by operating cash flow (67.6%).
Interest Coverage: SAX's interest payments on its debt are well covered by EBIT (19.6x coverage).
Balance Sheet
Inventory Level: SAX has a high level of physical assets or inventory.
Debt Coverage by Assets: SAX's debt is not covered by short term assets (assets are 0.5x debt).
Next Steps
Dividend
What is Ströer SE KGaA's current dividend yield, its reliability and sustainability?
2.60%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: SAX's dividend (2.6%) is higher than the bottom 25% of dividend payers in the German market (1.31%).
High Dividend: SAX's dividend (2.6%) is low compared to the top 25% of dividend payers in the German market (3.65%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, SAX has been paying a dividend for less than 10 years.
Growing Dividend: SAX's dividend payments have increased, but the company has only paid a dividend for 6 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (103.2%), SAX's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SAX's dividends in 3 years are forecast to be covered by earnings (58% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.1yrs
Average management tenure
CEO
Udo Müller (57yo)
2.1yrs
Tenure
€3,775,200
Compensation
Mr. Udo Müller is the Founder, Chairman of Management Board and Co-Chief Executive Officerof Ströer SE & Co. KGaA. At the young age of 19, he managed his first publishing house. Following his medical degr ...
CEO Compensation Analysis
Compensation vs Market: Udo's total compensation ($USD0.00) is below average for companies of similar size in the German market ($USD2.27M).
Compensation vs Earnings: Udo's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Founder | 2.1yrs | €3.78m | 21.2% €921.0m | |
| Co-CEO & Member of Management Board | 2.9yrs | €1.41m | 0.050% €2.2m | |
| CFO & Member of Management Board | 1.1yrs | no data | no data | |
| Head of Investor & Credit Relations | 0yrs | no data | no data | |
| Director of Corporate Communications | 0yrs | no data | no data |
2.1yrs
Average Tenure
Experienced Management: SAX's management team is considered experienced (2.1 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Member of Supervisory Board | 4.3yrs | €31.10k | no data | |
| Deputy Chairman of Supervisory Board | 0yrs | €48.30k | 21.31% €925.8m | |
| Chairman of Supervisory Board | 5.7yrs | €75.00k | no data | |
| Member of Supervisory Board | 1.5yrs | €31.50k | no data | |
| Member of Supervisory Board | 6.3yrs | €47.60k | no data | |
| Employee Representative Supervisory Board Member | 2.9yrs | €600.00 | no data | |
| Employee Representative Supervisory Board Member | 2.9yrs | €600.00 | no data | |
| Member of Supervisory Board | 2.9yrs | €400.00 | no data | |
| Employee Representative Supervisory Board Member | 2.9yrs | €600.00 | no data | |
| Employee Representative Supervisory Board Member | 2.9yrs | €400.00 | no data |
2.9yrs
Average Tenure
49yo
Average Age
Experienced Board: SAX's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
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.
Top Shareholders
Company Information
Ströer SE & Co. KGaA's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Ströer SE & Co. KGaA
- Ticker: SAX
- Exchange: XTRA
- Founded:
- Industry: Advertising
- Sector: Media
- Market Cap: €4.345b
- Shares outstanding: 56.58m
- Website: https://www.stroeer.com
Number of Employees
Location
- Ströer SE & Co. KGaA
- Ströer Allee 1
- Cologne
- North Rhine-Westphalia
- 50999
- Germany
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| SAX | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Jul 2010 |
| SAX | XTRA (XETRA Trading Platform) | Yes | Common Shares | DE | EUR | Jul 2010 |
| 0MYZ | LSE (London Stock Exchange) | Yes | Common Shares | GB | EUR | Jul 2010 |
| SAXD | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Common Shares | GB | EUR | Jul 2010 |
| SAX | SWX (SIX Swiss Exchange) | Yes | Common Shares | CH | CHF | Jul 2010 |
| SAX | WBAG (Wiener Boerse AG) | Yes | Common Shares | AT | EUR | Jul 2010 |
| SAX | ETLX (Eurotlx) | Yes | Common Shares | IT | EUR | Jul 2010 |
Biography
Ströer SE & Co. KGaA provides out-of-home and online advertising services to private and corporate customers in Germany, Turkey, and internationally. The company operates through three segments: Ströer Digital, Out-of-Home Germany, and Out-of-Home International. Its out-of-home advertising solutions covers various forms of outdoor advertising media, such as traditional posters; advertisements at bus and tram stop shelters, and on public transport; and digital and interactive solutions. The company markets approximately 300,000 outdoor advertising spaces. It also offers digital advertising on the Internet and on mobile devices, as well as in public spaces as a public video network. The company operates approximately 1,000 Websites. The company was formerly known as Ströer SE. Ströer SE & Co. KGaA is headquartered in Cologne, Germany.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/20 22:03 |
| End of Day Share Price | 2020/02/20 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.