XTRA:DIC

Stock Analysis Report

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Executive Summary

DIC Asset AG is one of Germany's leading listed property companies, and specialises in commercial real estate. More Details


Snowflake Analysis

6 star dividend payer with proven track record.


Similar Companies

Share Price & News

How has DIC Asset's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: DIC is not significantly more volatile than the rest of German stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: DIC's weekly volatility (6%) has been stable over the past year.


Market Performance


7 Day Return

3.3%

DIC

-1.4%

DE Real Estate

-1.2%

DE Market


1 Year Return

-10.8%

DIC

0.2%

DE Real Estate

2.3%

DE Market

Return vs Industry: DIC underperformed the German Real Estate industry which returned 0.1% over the past year.

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


Shareholder returns

DICIndustryMarket
7 Day3.3%-1.4%-1.2%
30 Day7.2%-2.8%1.8%
90 Day39.5%1.3%8.1%
1 Year-6.0%-10.8%3.1%0.2%5.6%2.3%
3 Year57.9%34.4%19.6%10.6%3.6%-5.5%
5 Year107.8%62.0%79.4%58.6%41.3%21.3%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is DIC Asset undervalued compared to its fair value and its price relative to the market?

13.66x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: DIC (€13.98) is trading above our estimate of fair value (€8.6)

Significantly Below Fair Value: DIC is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: DIC is poor value based on its PE Ratio (13.7x) compared to the DE Real Estate industry average (12.3x).

PE vs Market: DIC is good value based on its PE Ratio (13.7x) compared to the German market (23.9x).


Price to Earnings Growth Ratio

PEG Ratio: DIC is poor value based on its PEG Ratio (5.1x)


Price to Book Ratio

PB vs Industry: DIC is good value based on its PB Ratio (1.1x) compared to the DE Real Estate industry average (1.3x).


Next Steps

Future Growth

How is DIC Asset forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

2.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DIC's forecast earnings growth (2.7% per year) is above the savings rate (0.07%).

Earnings vs Market: DIC's earnings (2.7% per year) are forecast to grow slower than the German market (25.3% per year).

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

Revenue vs Market: DIC's revenue is expected to decline over the next 3 years (-0.7% per year).

High Growth Revenue: DIC's revenue is forecast to decline over the next 3 years (-0.7% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: DIC's Return on Equity is forecast to be low in 3 years time (8.9%).


Next Steps

Past Performance

How has DIC Asset performed over the past 5 years?

33.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DIC has a large one-off gain of €37.5M impacting its September 30 2020 financial results.

Growing Profit Margin: DIC's current net profit margins (36.4%) are higher than last year (28.1%).


Past Earnings Growth Analysis

Earnings Trend: DIC's earnings have grown significantly by 33.1% per year over the past 5 years.

Accelerating Growth: DIC's earnings growth over the past year (46%) exceeds its 5-year average (33.1% per year).

Earnings vs Industry: DIC earnings growth over the past year (46%) exceeded the Real Estate industry 0.09%.


Return on Equity

High ROE: DIC's Return on Equity (7.4%) is considered low.


Next Steps

Financial Health

How is DIC Asset's financial position?


Financial Position Analysis

Short Term Liabilities: DIC's short term assets (€560.3M) exceed its short term liabilities (€208.6M).

Long Term Liabilities: DIC's short term assets (€560.3M) do not cover its long term liabilities (€1.5B).


Debt to Equity History and Analysis

Debt Level: DIC's debt to equity ratio (142.8%) is considered high.

Reducing Debt: DIC's debt to equity ratio has reduced from 197.9% to 142.8% over the past 5 years.

Debt Coverage: DIC's debt is not well covered by operating cash flow (3.9%).

Interest Coverage: DIC's interest payments on its debt are well covered by EBIT (3.1x coverage).


Balance Sheet


Next Steps

Dividend

What is DIC Asset current dividend yield, its reliability and sustainability?

4.72%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: DIC's dividend (4.72%) is higher than the bottom 25% of dividend payers in the German market (1.02%).

High Dividend: DIC's dividend (4.72%) is in the top 25% of dividend payers in the German market (3.51%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (64.5%), DIC's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: DIC's dividends in 3 years are forecast to be covered by earnings (58.5% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.0yrs

Average management tenure


CEO

Sonja Wärntges (53 yo)

3.25yrs

Tenure

€1,306,052

Compensation

Ms. Sonja Wärntges serves as Member of Supervisory Board at Fraport AG since October 2020. She has been Chief Executive Officer and Chairwoman of the Management at DIC Asset AG since October 1, 2017 and se...


CEO Compensation Analysis

Compensation vs Market: Sonja's total compensation ($USD1.58M) is about average for companies of similar size in the German market ($USD1.59M).

Compensation vs Earnings: Sonja's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Sonja Wärntges
Chairwoman of the Management Board & CEO3.25yrs€1.31mno data
Johannes von Mutius
Chief Investment Officer & Member of Management Boardno data€914.57kno data
Patrick Weiden
Chief Capital Markets Officer & Member of Management Board0.92yrno datano data
Christian Bock
Chief Institutional Business Officer & Member of Management Board0.42yrno datano data
Dirk Oehme
Head of Finance & Accountingno datano datano data
Peer Schlinkmann
Head of Investor Relations & Corporate Communications1.5yrsno datano data
Mike Reicheneder
Director Investment & Head of Sales1yrno datano data
Lena Wirch-Jourdan
Head of Human Resourcesno datano datano data
Thomas Gerstmann
Head of Investmentno datano datano data
Jochen König
Director Investment & Head of Acquisitions1yrno datano data
Rainer Mutschler
Director Investment & Head of Transaction Management1yrno datano data
Kati Herzog
Head of Sustainabilityno datano datano data

1.0yrs

Average Tenure

51yo

Average Age

Experienced Management: DIC's management team is not considered experienced ( 1 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Gerhard Schmidt
Supervisory Board Chairman13.58yrs€105.00kno data
Michael Zahn
Member of Supervisory Board0.50yrno datano data
Klaus-Jürgen Sontowski
Supervisory Board Vice Chairman13.58yrs€75.00kno data
Ulrich Reuter
Independent Supervisory Board Member5.5yrs€60.00kno data
René Zahnd
Member of the Supervisory Board1.67yrs€30.82kno data
Eberhard Vetter
Independent Member of the Supervisory Board2.83yrs€50.00kno data

4.2yrs

Average Tenure

57yo

Average Age

Experienced Board: DIC's board of directors are considered experienced (4.2 years average tenure).


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 been diluted in the past year, with total shares outstanding growing by 11.6%.


Top Shareholders

Company Information

DIC Asset AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: DIC Asset AG
  • Ticker: DIC
  • Exchange: XTRA
  • Founded: 2002
  • Industry: Diversified Real Estate Activities
  • Sector: Real Estate
  • Market Cap: €1.127b
  • Shares outstanding: 80.59m
  • Website: https://www.dic-asset.de

Number of Employees


Location

  • DIC Asset AG
  • Neue Mainzer Straße 20
  • MainTor
  • Frankfurt am Main
  • Hessen
  • 60311
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DICDB (Deutsche Boerse AG)YesRegistered SharesDEEURMay 2003
DICXTRA (XETRA Trading Platform)YesRegistered SharesDEEURMay 2003
DICDBATS-CHIXE (BATS 'Chi-X Europe')YesRegistered SharesGBEURMay 2003
0QGGLSE (London Stock Exchange)YesRegistered SharesGBEURMay 2003
DICSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFMay 2003
DICWBAG (Wiener Boerse AG)YesRegistered SharesATEURMay 2003
DDCC.FOTCPK (Pink Sheets LLC)YesRegistered SharesUSUSDMay 2003

Biography

DIC Asset AG is one of Germany's leading listed property companies, and specialises in commercial real estate. With around 20 years of experience on the German real estate market, the company maintains a r...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/16 19:23
End of Day Share Price2021/01/15 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.