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Vitrolife

DB:VTFN
Snowflake Description

Flawless balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VTFN
DB
SEK24B
Market Cap
  1. Home
  2. DE
  3. Pharmaceuticals & Biotech
Company description

Vitrolife AB (publ), a medical device company, develops, produces, and markets products for assisted reproduction worldwide. The last earnings update was 16 days ago. More info.


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  • Vitrolife has significant price volatility in the past 3 months.
VTFN Share Price and Events
7 Day Returns
-2%
DB:VTFN
-0.7%
DE Biotechs
2.5%
DE Market
1 Year Returns
67%
DB:VTFN
-9.2%
DE Biotechs
-6.7%
DE Market
VTFN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Vitrolife (VTFN) -2% 5.9% 32% 67% 145.4% 771.2%
DE Biotechs -0.7% 4.7% -6.2% -9.2% 44% 8.7%
DE Market 2.5% 3.3% 9.2% -6.7% 9% 13.5%
1 Year Return vs Industry and Market
  • VTFN outperformed the Biotechs industry which returned -9.2% over the past year.
  • VTFN outperformed the Market in Germany which returned -6.7% over the past year.
Price Volatility
VTFN
Industry
5yr Volatility vs Market

Value

 Is Vitrolife 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 Vitrolife 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 Vitrolife.

DB:VTFN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 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:VTFN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.46
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.456 (1 + (1- 22%) (0%))
1.306
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.31
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.306 * 5.96%)
8.01%

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

The calculations below outline how an intrinsic value for Vitrolife 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:VTFN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SEK, Millions) Source Present Value
Discounted (@ 8.01%)
2019 375.00 Analyst x3 347.19
2020 449.00 Analyst x3 384.88
2021 527.67 Analyst x3 418.77
2022 587.57 Est @ 11.35% 431.74
2023 634.66 Est @ 8.02% 431.76
2024 670.71 Est @ 5.68% 422.45
2025 697.83 Est @ 4.04% 406.94
2026 718.06 Est @ 2.9% 387.69
2027 733.12 Est @ 2.1% 366.47
2028 744.38 Est @ 1.54% 344.51
Present value of next 10 years cash flows SEK3,942.39
DB:VTFN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SEK744.38 × (1 + 0.23%) ÷ (8.01% – 0.23%)
SEK9,588.53
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SEK9,588.53 ÷ (1 + 8.01%)10
SEK4,437.65
DB:VTFN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SEK3,942.39 + SEK4,437.65
SEK8,380.05
Equity Value per Share
(SEK)
= Total value / Shares Outstanding
= SEK8,380.05 / 108.55
SEK77.2
DB:VTFN Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:VTFN represents 0.09394x of OM:VITR
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.09394x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (SEK) x Listing Adjustment Factor
= SEK 77.20 x 0.09394
€7.25
Value per share (EUR) From above. €7.25
Current discount Discount to share price of €20.48
= -1 x (€20.48 - €7.25) / €7.25
-182.4%

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

  • The current share price of Vitrolife is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Vitrolife's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Vitrolife's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:VTFN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in SEK SEK2.85
OM:VITR Share Price ** OM (2019-04-18) in SEK SEK218
Europe Biotechs Industry PE Ratio Median Figure of 30 Publicly-Listed Biotechs Companies 22.53x
Germany Market PE Ratio Median Figure of 421 Publicly-Listed Companies 19.69x

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

** Primary Listing of Vitrolife.

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

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

= 218 ÷ 2.85

76.41x

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

  • Vitrolife is overvalued based on earnings compared to the Europe Biotechs industry average.
  • Vitrolife is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Vitrolife's expected growth come at a high price?
Raw Data
DB:VTFN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 76.41x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
15.3%per year
Europe Biotechs Industry PEG Ratio Median Figure of 22 Publicly-Listed Biotechs Companies 1.31x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 76.41x ÷ 15.3%

4.99x

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

  • Vitrolife is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Vitrolife's assets?
Raw Data
DB:VTFN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in SEK SEK13.75
OM:VITR Share Price * OM (2019-04-18) in SEK SEK218
Germany Biotechs Industry PB Ratio Median Figure of 15 Publicly-Listed Biotechs Companies 3.85x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.87x
DB:VTFN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 218 ÷ 13.75

15.85x

* Primary Listing of Vitrolife.

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

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

Future Performance

 How is Vitrolife expected to perform in the next 1 to 3 years based on estimates from 3 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
15.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Vitrolife expected to grow at an attractive rate?
  • Vitrolife's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Vitrolife's earnings growth is expected to exceed the Germany market average.
  • Vitrolife's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:VTFN Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:VTFN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 15.3%
DB:VTFN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 11.9%
Germany Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 47.4%
Germany Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 26.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.7%
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:VTFN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:VTFN Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,929 1
2021-12-31 1,723 510 498 3
2020-12-31 1,564 460 428 3
2019-12-31 1,405 408 376 3
DB:VTFN Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2018-12-31 1,151 349 310
2018-09-30 1,102 343 294
2018-06-30 1,064 341 284
2018-03-31 1,066 321 276
2017-12-31 1,046 312 264
2017-09-30 1,026 281 255
2017-06-30 991 243 234
2017-03-31 913 204 211
2016-12-31 856 181 190
2016-09-30 804 197 188
2016-06-30 771 210 196
2016-03-31 747 196 186

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Vitrolife's earnings are expected to grow by 15.3% yearly, however this is not considered high growth (20% yearly).
  • Vitrolife's revenue is expected to grow by 11.9% 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:VTFN 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 3 Analyst Estimates (S&P Global) See Below

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

DB:VTFN Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 4.58 5.20 3.89 3.00
2020-12-31 3.92 4.20 3.60 3.00
2019-12-31 3.46 3.70 3.30 3.00
DB:VTFN Past Financials Data
Date (Data in SEK Millions) EPS *
2018-12-31 2.85
2018-09-30 2.71
2018-06-30 2.61
2018-03-31 2.54
2017-12-31 2.43
2017-09-30 2.35
2017-06-30 2.16
2017-03-31 1.95
2016-12-31 1.75
2016-09-30 1.73
2016-06-30 1.80
2016-03-31 1.72

*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.
  • Vitrolife is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Vitrolife'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.
Vitrolife has a total score of 4/6, 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.

Past Performance

  How has Vitrolife 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 Vitrolife's growth in the last year to its industry (Biotechs).
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.
  • Vitrolife has delivered over 20% year on year earnings growth in the past 5 years.
  • Vitrolife's 1-year earnings growth is less than its 5-year average (17.5% vs 27.1%)
  • Vitrolife's earnings growth has not exceeded the Europe Biotechs industry average in the past year (17.5% vs 18.2%).
Earnings and Revenue History
Vitrolife'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 Vitrolife Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:VTFN 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 1,151.35 309.70 283.81 71.66
2018-09-30 1,102.08 294.08 277.99 69.60
2018-06-30 1,063.98 283.77 276.42 70.36
2018-03-31 1,066.13 275.80 276.09 69.09
2017-12-31 1,046.22 263.64 269.61 69.12
2017-09-30 1,026.28 254.78 265.98 70.53
2017-06-30 990.80 234.49 261.80 69.73
2017-03-31 913.19 211.15 253.97 67.53
2016-12-31 856.11 190.37 249.83 61.59
2016-09-30 804.22 188.03 235.09 55.01
2016-06-30 770.60 195.89 231.14 54.79
2016-03-31 746.97 186.29 222.76 53.33
2015-12-31 722.37 182.85 220.33 55.74
2015-09-30 660.21 154.09 213.01 55.77
2015-06-30 608.54 137.26 195.12 47.77
2015-03-31 553.84 121.92 185.63 45.38
2014-12-31 510.51 109.11 172.06 41.93
2014-09-30 497.16 96.04 168.00 52.49
2014-06-30 480.65 77.48 166.12 57.84
2014-03-31 467.21 66.57 164.97 58.51
2013-12-31 452.74 56.27 164.00 58.87
2013-09-30 427.19 40.62 161.95 49.25
2013-06-30 401.47 32.48 156.98 43.82
2013-03-31 380.70 30.79 151.78 42.13
2012-12-31 362.02 26.26 147.20 41.20
2012-09-30 345.70 29.57 144.96 41.07
2012-06-30 336.04 20.11 146.36 42.05

*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.
  • Vitrolife has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Vitrolife used its assets more efficiently than the Europe Biotechs industry average last year based on Return on Assets.
  • Vitrolife has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Vitrolife'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 Biotechs 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.
Vitrolife has a total score of 4/6, 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.

Health

 How is Vitrolife'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 Vitrolife's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Vitrolife is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Vitrolife's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Vitrolife'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.
  • Vitrolife has no debt, it does not need to be covered by short term assets.
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 Vitrolife Company Filings, last reported 3 months ago.

DB:VTFN Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,496.21 0.00 490.81
2018-09-30 1,410.93 0.00 496.23
2018-06-30 1,345.09 0.00 421.40
2018-03-31 1,331.40 0.48 399.29
2017-12-31 1,228.65 0.48 395.96
2017-09-30 1,140.71 0.49 285.06
2017-06-30 1,089.46 31.95 235.74
2017-03-31 1,076.83 34.65 218.08
2016-12-31 1,020.38 37.86 189.25
2016-09-30 956.25 41.26 118.65
2016-06-30 895.77 43.42 75.97
2016-03-31 884.60 45.01 202.33
2015-12-31 844.97 47.50 200.41
2015-09-30 800.96 52.00 115.90
2015-06-30 737.20 68.10 75.65
2015-03-31 741.83 73.69 90.46
2014-12-31 702.57 85.79 107.62
2014-09-30 384.25 27.40 119.27
2014-06-30 343.26 31.10 70.81
2014-03-31 342.11 34.41 65.51
2013-12-31 315.53 38.65 53.89
2013-09-30 304.77 46.12 31.00
2013-06-30 292.70 65.08 18.82
2013-03-31 285.89 66.30 19.31
2012-12-31 278.98 75.05 11.97
2012-09-30 -29.07 60.92 15.02
2012-06-30 356.13 66.37 19.12
  • Vitrolife has no debt.
  • Vitrolife has no debt compared to 5 years ago when it was 12.2%.
  • Vitrolife has no debt, it does not need to be covered by operating cash flow.
  • Vitrolife has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Vitrolife'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. Vitrolife has a total score of 6/6, 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.

Dividends

 What is Vitrolife'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
0.39%
Current annual income from Vitrolife dividends. Estimated to be 0.54% next year.
If you bought €2,000 of Vitrolife shares you are expected to receive €8 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?
  • Vitrolife's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • Vitrolife's dividend is below the markets top 25% of dividend payers in Germany (3.74%).
Upcoming dividend payment

Purchase Vitrolife before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:VTFN 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 3 Analyst Estimates (S&P Global) See Below
Europe Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 0.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 324 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
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:VTFN Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 1.34 3.00
2020-12-31 1.14 3.00
2019-12-31 1.04 3.00
DB:VTFN Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2019-03-26 0.850 0.393
2018-02-08 0.740 0.539
2017-03-21 0.520 0.440
2016-04-29 0.480 0.549
2015-04-13 0.300 0.719
2015-02-06 0.300 0.908
2014-04-01 0.200 0.785
2013-04-30 0.120 0.777
2012-04-20 0.120 1.256
2011-04-28 0.120 1.421
2010-03-24 0.100 1.359
2009-04-28 0.080 1.359

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

  • Vitrolife is not paying a notable dividend for Germany, therefore no need to check if the payments are stable.
  • Vitrolife is not paying a notable dividend for Germany, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Vitrolife's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Vitrolife's dividends as it is not paying a notable one for Germany.
Future Payout to shareholders
  • No need to calculate the sustainability of Vitrolife's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess Vitrolife'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 Vitrolife afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Vitrolife 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.

Management

 What is the CEO of Vitrolife'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
Thomas Axelsson
COMPENSATION SEK0
AGE 59
TENURE AS CEO 7 years
CEO Bio

Mr. Thomas Axelsson, M.Sc. employed at Vitrolife AB (publ) in 2011 and has been its Chief Executive Officer of since April 18, 2012. Mr. Axelsson served as an Acting Chief Executive Officer of Vitrolife from November 2011 to April 18, 2012. He runs his own independent consulting firm mainly working with the Life Science sector, VC & Private Equity companies. Mr. Axelsson served as Business Area Manager of Baxter Medical AB. He has over 25 years of senior management experience in small and large companies. Mr. Axelsson's career includes senior positions within Baxter/Travenol and as the Chief Executive Officer in public listed companies. He served as the Chief Executive Officer of Xelerated Inc. since September 1, 2007. Mr. Axelsson served as the Chief Executive Officer and Chief Operating Officer at Symsoft AB. He served as the Chairman, Chief Executive Officer and Head of Group at Stille AB. Mr. Axelsson served as the Chief Executive Officer and Head of Group at Artema Medical AB (now Mindray Medical Sweden AB). He held leading positions within the Ericsson Group in Sweden and Canada, where he managed large international organizations developing and Producing Cellular Systems. Mr. Axelsson joined Symsoft in 2000 after having spent 15 years at Ericsson. At Ericsson, he served as Director, responsible for the development projects of D-AMPS and PDC. Mr. Axelsson serves as the Chairman of Dipylon Medical AB (also known as CMA Microdialysis AB), Microdialysis AB, Cohr Group AB and Millicore AB. He served as the Chairman and Director at Neoventa Medical AB and Medtentia International Ltd Oy. Mr. Axelsson served as Chairman and Director at Quickcool AB. He served as Chairman and Director of Airsonett AB since December 15, 2010. Mr. Axelsson served as the Chairman of Valneva Sweden AB (now SBL Vaccin AB, Crucell Sweden AB) and Mitra Medical Technology AB. He served as Director of MedCap AB (publ.) since 2008. Mr. Axelsson served as a Director of Symsoft AB and Stille AB. He served as Director of Medivir AB since May 03, 2016 until May 3, 2017. Mr. Axelsson has a Master's Degree in Applied Physics from Lund Institute of Technology in 1977.

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

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

1.6
Average Tenure
46
Average Age
  • The average tenure for the Vitrolife management team is less than 2 years, this suggests a new team.
Management Team

Thomas Axelsson

TITLE
Chief Executive Officer
AGE
59
TENURE
7 yrs

Mikael Engblom

TITLE
CFO & Investor Relations
AGE
41

Steffen Nielsen

TITLE
Chief Operating Officer
AGE
41
TENURE
1.6 yrs

Mark Larman

TITLE
Chief Scientific Officer
AGE
44
TENURE
1.7 yrs

Rickard Ericsson

TITLE
Chief Sales & Marketing Officer
AGE
47
TENURE
1.6 yrs

Martin Morén

TITLE
Director of Human Resources
AGE
46
TENURE
11.2 yrs

Fredrik Mattsson

TITLE
Head of New Business & Strategic Development Function
AGE
46
TENURE
0.6 yrs

Maria Forss

TITLE
Business Unit Director of Media
AGE
46
TENURE
1.6 yrs

Jan Nilsson

TITLE
Head Auditor
Board of Directors Tenure

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

6
Average Tenure
60
Average Age
  • The tenure for the Vitrolife board of directors is about average.
Board of Directors

Carsten Browall

TITLE
Chairman
COMPENSATION
SEK500K
AGE
60
TENURE
6 yrs

Pia Marions

TITLE
Director
AGE
55
TENURE
6 yrs

Jón Sigurdsson

TITLE
Director
AGE
62
TENURE
4.3 yrs

Barbro Fridén

TITLE
Director
COMPENSATION
SEK110K
AGE
62
TENURE
9 yrs

Lars Holmqvist

TITLE
Director
AGE
59
TENURE
1.3 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 (€)
27. Nov 18 Buy Mikael Engblom Individual 27. Nov 18 27. Nov 18 472 €15.16 €7,153
04. Oct 18 Buy Thomas Axelsson Individual 04. Oct 18 04. Oct 18 600 €13.29 €7,972
04. Oct 18 Buy Barbro Fridén Individual 04. Oct 18 04. Oct 18 850 €13.31 €11,310
03. Oct 18 Buy Mikael Engblom Individual 03. Oct 18 03. Oct 18 952 €13.22 €12,446
X
Management checks
We assess Vitrolife'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. Vitrolife 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.

News

Simply Wall St News

Company Info

Description

Vitrolife AB (publ), a medical device company, develops, produces, and markets products for assisted reproduction worldwide. The company’s products include follicle aspiration needles; G-series media for in vitro fertilization procedures; labware products; EmbryoScope and Primo Vision time-lapse systems; vitrification products; Andrology products; Octax laser and imaging systems; and Oocyte retrieval media. It also offers sperm processing solutions, OVOIL paraffin oil, micromanipulation solutions and pipettes, slow freezing products, log and guard monitoring and alarming systems, Diagnostics products, and embryo biopsy solutions. The company was formerly known as Scandinavian IVF Science and changed its name to Vitrolife AB (publ) in 1998. Vitrolife AB (publ) was founded in 1981 and is headquartered in Gothenburg, Sweden.

Details
Name: Vitrolife AB (publ)
VTFN
Exchange: DB
Founded: 1981
SEK2,262,482,463
108,550,575
Website: http://www.vitrolife.com
Address: Vitrolife AB (publ)
Gustaf Werners gata 2,
Västra Frölunda,
Gothenburg,
421 32,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM VITR Common Shares OMX Nordic Exchange Stockholm SE SEK 27. Jun 2001
DB VTFN Common Shares Deutsche Boerse AG DE EUR 27. Jun 2001
LSE 0YAY Common Shares London Stock Exchange GB SEK 27. Jun 2001
OTCPK VTRL.Y UNSPONSORED ADR Pink Sheets LLC US USD 18. May 2016
Number of employees
Current staff
Staff numbers
392
Vitrolife employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 21:05
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/16
Last earnings filing: 2019/04/02
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.