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Starbreeze

DB:2ST
Snowflake Description

Exceptional growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2ST
DB
SEK276M
Market Cap
  1. Home
  2. DE
  3. Media
Company description

Starbreeze AB (publ) operates as an independent creator, publisher, and distributor of entertainment products in Sweden, rest of Europe, the United States, and Asia. The last earnings update was 58 days ago. More info.


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  • Starbreeze has significant price volatility in the past 3 months.
2ST Share Price and Events
7 Day Returns
5.1%
DB:2ST
0.9%
DE Entertainment
2.4%
DE Market
1 Year Returns
-95.5%
DB:2ST
11.6%
DE Entertainment
-6.2%
DE Market
2ST Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Starbreeze (2ST) 5.1% -4.7% 7.9% -95.5% - -
DE Entertainment 0.9% 7.3% 13.9% 11.6% 33.9% 72.6%
DE Market 2.4% 3% 7.4% -6.2% 9.6% 14.1%
1 Year Return vs Industry and Market
  • 2ST underperformed the Entertainment industry which returned 11.6% over the past year.
  • 2ST underperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
2ST
Industry
5yr Volatility vs Market

2ST Value

 Is Starbreeze 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 Starbreeze 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

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

DB:2ST Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.3%
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:2ST
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Entertainment Unlevered Beta Simply Wall St/ S&P Global 0.96
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.959 (1 + (1- 22%) (142.72%))
1.688
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.69
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.688 * 5.96%)
10.29%

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

The calculations below outline how an intrinsic value for Starbreeze is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:2ST DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SEK, Millions) Source Present Value
Discounted (@ 10.29%)
2019 -88.00 Analyst x1 -79.79
2020 85.00 Analyst x2 69.88
2021 570.00 Analyst x1 424.90
2022 993.98 Est @ 74.38% 671.83
2023 1,512.21 Est @ 52.14% 926.75
2024 2,065.14 Est @ 36.56% 1,147.55
2025 2,595.12 Est @ 25.66% 1,307.52
2026 3,063.09 Est @ 18.03% 1,399.34
2027 3,451.84 Est @ 12.69% 1,429.82
2028 3,760.86 Est @ 8.95% 1,412.50
Present value of next 10 years cash flows SEK8,710.31
DB:2ST DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SEK3,760.86 × (1 + 0.23%) ÷ (10.29% – 0.23%)
SEK37,468.05
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SEK37,468.05 ÷ (1 + 10.29%)10
SEK14,072.24
DB:2ST Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SEK8,710.31 + SEK14,072.24
SEK22,782.54
Equity Value per Share
(SEK)
= Total value / Shares Outstanding
= SEK22,782.54 / 325.30
SEK70.04
DB:2ST Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:2ST represents 0.04826x of OM:STAR B
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.04826x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (SEK) x Listing Adjustment Factor
= SEK 70.04 x 0.04826
€3.38
Value per share (EUR) From above. €3.38
Current discount Discount to share price of €0.04
= -1 x (€0.04 - €3.38) / €3.38
98.8%

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

Current Discount
Amount off the current price Starbreeze is available for.
Intrinsic value
>50%
Share price is €0.04 vs Future cash flow value of €3.38
Current Discount Checks
For Starbreeze to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Starbreeze's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Starbreeze's share price is below the future cash flow value, and 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 Starbreeze's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Starbreeze's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:2ST PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in SEK SEK-4.20
OM:STAR B Share Price ** OM (2019-04-18) in SEK SEK0.85
Germany Entertainment Industry PE Ratio Median Figure of 10 Publicly-Listed Entertainment Companies 17.11x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.67x

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

** Primary Listing of Starbreeze.

DB:2ST PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OM:STAR B Share Price ÷ EPS (both in SEK)

= 0.85 ÷ -4.20

-0.2x

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

  • Starbreeze is loss making, we can't compare its value to the DE Entertainment industry average.
  • Starbreeze is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Starbreeze's expected growth come at a high price?
Raw Data
DB:2ST PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.2x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
107.3%per year
Europe Entertainment Industry PEG Ratio Median Figure of 30 Publicly-Listed Entertainment Companies 1.73x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Starbreeze, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Starbreeze's assets?
Raw Data
DB:2ST PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in SEK SEK1.04
OM:STAR B Share Price * OM (2019-04-18) in SEK SEK0.85
Germany Entertainment Industry PB Ratio Median Figure of 14 Publicly-Listed Entertainment Companies 1.56x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.85x
DB:2ST PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OM:STAR B Share Price ÷ Book Value per Share (both in SEK)

= 0.85 ÷ 1.04

0.82x

* Primary Listing of Starbreeze.

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

  • Starbreeze is good value based on assets compared to the DE Entertainment industry average.
X
Value checks
We assess Starbreeze'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 Entertainment 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 Entertainment industry average (and greater than 0)? (1 check)
  5. Starbreeze has a total score of 3/6, 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.

2ST Future Performance

 How is Starbreeze expected to perform in the next 1 to 3 years based on estimates from 2 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
107.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Starbreeze expected to grow at an attractive rate?
  • Starbreeze's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Starbreeze's earnings growth is expected to exceed the Germany market average.
  • Starbreeze's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:2ST Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:2ST Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 107.3%
DB:2ST Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 46.7%
Germany Entertainment Industry Earnings Growth Rate Market Cap Weighted Average 22.8%
Germany Entertainment Industry Revenue Growth Rate Market Cap Weighted Average 3.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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:2ST Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:2ST Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,399 677 352 2
2020-12-31 862 611 68 2
2019-12-31 393 311 -72 1
DB:2ST Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2018-12-31 350 53 -1,336
2018-09-30 603 28 -111
2018-06-30 647 145 -57
2018-03-31 646 11 -110
2017-12-31 593 -21 -155
2017-09-30 410 39 -62
2017-06-30 473 17 -10
2017-03-31 487 6 21
2016-12-31 500 15 57
2016-09-30 422 -4 42
2016-06-30 355 9 28
2016-03-31 312 56 17

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Starbreeze's earnings are expected to grow significantly at over 20% yearly.
  • Starbreeze's revenue is expected to grow significantly at over 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:2ST Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Starbreeze Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:2ST Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.24 1.24 1.24 1.00
2020-12-31 0.02 0.02 0.02 1.00
2019-12-31 -0.25 -0.25 -0.25 1.00
DB:2ST Past Financials Data
Date (Data in SEK Millions) EPS *
2018-12-31 -4.20
2018-09-30 -0.36
2018-06-30 -0.19
2018-03-31 -0.39
2017-12-31 -0.55
2017-09-30 -0.22
2017-06-30 -0.04
2017-03-31 0.08
2016-12-31 0.22
2016-09-30 0.16
2016-06-30 0.12
2016-03-31 0.07

*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.
  • Starbreeze is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
X
Future performance checks
We assess Starbreeze'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.
Starbreeze has a total score of 6/6, 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.

2ST Past Performance

  How has Starbreeze 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 Starbreeze's growth in the last year to its industry (Entertainment).
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.
  • Starbreeze does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Starbreeze's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Starbreeze's 1-year growth to the DE Entertainment industry average as it is not currently profitable.
Earnings and Revenue History
Starbreeze'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 Starbreeze Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:2ST Past Revenue, Cash Flow and Net Income Data
Date (Data in SEK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 349.96 -1,336.35 207.12
2018-09-30 603.18 -110.81 266.83
2018-06-30 647.03 -57.50 258.20
2018-03-31 646.18 -109.91 257.97
2017-12-31 593.38 -155.33 271.19
2017-09-30 409.72 -62.09 192.57
2017-06-30 473.50 -9.95 206.84
2017-03-31 487.09 21.24 193.36
2016-12-31 499.91 57.09 171.15
2016-09-30 422.35 42.30 149.58
2016-06-30 355.46 28.29 132.57
2016-03-31 311.63 16.57 112.50
2015-12-31 296.82 39.41 101.52
2015-09-30 270.06 38.00 82.93
2015-06-30 225.50 34.15 60.66
2015-03-31 184.34 41.30 51.68
2014-12-31 161.13 44.80 44.31
2014-09-30 153.56 48.90 41.04
2014-06-30 221.46 118.51 43.87
2014-03-31 185.60 104.58 42.08
2013-12-31 165.16 93.60 40.82
2013-09-30 138.14 74.74 41.65
2013-06-30 53.07 0.82 33.93
2013-03-31 39.54 -12.33 32.90
2012-12-31 31.11 -23.73 36.61
2012-09-30 28.76 -25.57 39.76
2012-06-30 26.15 -26.02 41.76

*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.
  • It is difficult to establish if Starbreeze has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Starbreeze has efficiently used its assets last year compared to the DE Entertainment industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Starbreeze improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Starbreeze'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 Entertainment 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.
Starbreeze 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.

2ST Health

 How is Starbreeze'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 Starbreeze's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Starbreeze is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Starbreeze's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Starbreeze'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.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.6x 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 Starbreeze Company Filings, last reported 3 months ago.

DB:2ST Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 339.01 394.39 72.35
2018-09-30 1,677.11 511.72 222.49
2018-06-30 1,736.74 443.03 344.56
2018-03-31 1,531.91 530.75 370.24
2017-12-31 1,282.40 457.62 233.76
2017-09-30 1,318.36 385.89 431.45
2017-06-30 1,352.86 276.06 384.25
2017-03-31 1,314.80 270.11 516.90
2016-12-31 1,370.22 259.97 669.38
2016-09-30 935.60 0.00 375.97
2016-06-30 894.65 0.00 328.36
2016-03-31 548.26 220.06 416.47
2015-12-31 398.37 0.00 85.35
2015-09-30 386.20 0.00 123.65
2015-06-30 253.59 0.00 110.61
2015-03-31 245.88 0.00 165.39
2014-12-31 231.59 0.00 184.41
2014-09-30 212.83 0.00 161.66
2014-06-30 158.25 0.00 136.57
2014-03-31 140.82 0.00 126.26
2013-12-31 129.14 0.00 77.60
2013-09-30 111.05 0.00 92.56
2013-06-30 38.49 0.00 13.27
2013-03-31 35.55 0.00 15.41
2012-12-31 34.79 0.00 20.74
2012-09-30 35.37 0.00 22.12
2012-06-30 36.97 0.00 32.84
  • Starbreeze's level of debt (116.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 116.3% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Starbreeze has less than a year of cash runway based on current free cash flow.
  • Starbreeze has less than a year of cash runway if free cash flow continues to grow at historical rates of 55% each year.
X
Financial health checks
We assess Starbreeze'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. Starbreeze has a total score of 1/6, 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.

2ST Dividends

 What is Starbreeze'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%
Current annual income from Starbreeze dividends. Estimated to be 0% next year.
If you bought €2,000 of Starbreeze shares you are expected to receive €0 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?
  • Unable to evaluate Starbreeze's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Starbreeze's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:2ST 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 2 Analyst Estimates (S&P Global) See Below
Germany Entertainment Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 1.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:2ST Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00

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

  • Unable to perform a dividend volatility check as Starbreeze has not reported any payouts.
  • Unable to verify if Starbreeze's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Starbreeze's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Starbreeze has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Starbreeze's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess Starbreeze's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Starbreeze afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Starbreeze has a total score of 0/6, see the detailed checks below.


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

2ST Management

 What is the CEO of Starbreeze'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
Mikael Nermark
COMPENSATION SEK2,855,000
AGE 48
TENURE AS CEO 0.3 years
CEO Bio

Mr. Mikael Nermark serves as the Chief Operating Officer of Starbreeze AB (publ) and has been its Acting Chief Executive Officer since December 3, 2018. Mr. Nermark was Deputy Chief Executive Officer at Starbreeze AB (publ) from 2009 to December 3, 2018 and was CEO during the period of 2011 to 2013. Mr. Nermark served as the Chief Executive Officer at Starbreeze AB until February 13, 2013. He holds a Bachelor in Economy from Stockholm University.

CEO Compensation
  • Mikael's compensation has increased whilst company is loss making.
  • Mikael's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Starbreeze management team in years:

1.3
Average Tenure
47
Average Age
  • The average tenure for the Starbreeze management team is less than 2 years, this suggests a new team.
Management Team

Mikael Nermark

TITLE
Acting CEO & COO
COMPENSATION
SEK3M
AGE
48
TENURE
0.3 yrs

Claes Wenthzel

TITLE
Acting Chief Financial Officer
AGE
56
TENURE
0.3 yrs

Emmanuel Marquez

TITLE
Chief Technology Officer
AGE
47
TENURE
5.3 yrs

Pia Rosin

TITLE
Interim Head of Investor Relations

Johanna Wikland

TITLE
Global Human Resources Director
AGE
41
TENURE
3.3 yrs

Maeva Sponbergs

TITLE
Executive Vice President of Communication
AGE
38
TENURE
1.8 yrs

Stéphane Decroix

TITLE
Chief Development Officer
TENURE
0.9 yrs
Board of Directors Tenure

Average tenure and age of the Starbreeze board of directors in years:

0.1
Average Tenure
60
Average Age
  • The average tenure for the Starbreeze board of directors is less than 3 years, this suggests a new board.
Board of Directors

Torgny Hellström

TITLE
Chairman of the Board
AGE
60
TENURE
0.1 yrs

Matias Myllyrinne

TITLE
Director
COMPENSATION
SEK200K
AGE
44
TENURE
6.3 yrs

Jan Benjaminson

TITLE
Director
AGE
60
TENURE
0.1 yrs

Kerstin Sundberg

TITLE
Director
AGE
64
TENURE
0.1 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 (€)
12. Dec 18 Sell Sebastian Ahlskog Individual 12. Nov 18 15. Nov 18 -347,557 €0.57 €-179,453
19. Nov 18 Sell Varvtre AB Company 15. Nov 18 19. Nov 18 -3,841,245 €0.45 €-1,576,946
19. Nov 18 Sell Bo Klint Individual 15. Nov 18 15. Nov 18 -231,499 €0.47 €-109,058
07. Jun 18 Sell Sebastian Ahlskog Individual 01. Jun 18 04. Jun 18 -101,243 €1.36 €-137,026
07. Jun 18 Sell Bo Klint Individual 01. Jun 18 04. Jun 18 -202,490 €1.36 €-274,004
X
Management checks
We assess Starbreeze'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. Starbreeze 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.

2ST News

Simply Wall St News

2ST Company Info

Description

Starbreeze AB (publ) operates as an independent creator, publisher, and distributor of entertainment products in Sweden, rest of Europe, the United States, and Asia. The company operates through four segments: Starbreeze Games, Publishing, VR Tech & Operations, and Other. It develops and publishes games for PC and console, as well as other platforms, such as virtual reality (VR) and mobile devices. The company also develops VR technology and software products, including the StarVR headset and the VR movie format PresenZ; and operates VR parks. Starbreeze AB (publ) was founded in 1998 and is headquartered in Stockholm, Sweden.

Details
Name: Starbreeze AB (publ)
2ST
Exchange: DB
Founded: 1998
SEK26,432,021
325,295,554
Website: http://www.starbreeze.com
Address: Starbreeze AB (publ)
Regeringsgatan 38,
Box 7731,
Stockholm,
Stockholm County, 103 95,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM STAR B Class B Shares OMX Nordic Exchange Stockholm SE SEK 03. Aug 2000
OTCPK STBE.F Class B Shares Pink Sheets LLC US USD 03. Aug 2000
DB 2ST Class B Shares Deutsche Boerse AG DE EUR 03. Aug 2000
LSE 0RUU Class B Shares London Stock Exchange GB SEK 03. Aug 2000
DB 2STA Class A Shares Deutsche Boerse AG DE EUR 12. Jun 2015
LSE 0RUV Class A Shares London Stock Exchange GB SEK 12. Jun 2015
OM STAR A Class A Shares OMX Nordic Exchange Stockholm SE SEK 12. Jun 2015
Number of employees
Current staff
Staff numbers
604
Starbreeze employees.
Industry
Interactive Home Entertainment
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 22:23
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/03/20
Last earnings filing: 2019/02/20
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.