XTRA:DWNI

Stock Analysis Report

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Executive Summary

Deutsche Wohnen SE develops and manages residential properties in Germany. More Details


Snowflake Analysis

Established dividend payer and fair value.


Similar Companies

Share Price & News

How has Deutsche Wohnen's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: DWNI is not significantly more volatile than the rest of German stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: DWNI's weekly volatility (5%) has been stable over the past year.


Market Performance


7 Day Return

-1.8%

DWNI

-1.4%

DE Real Estate

-1.2%

DE Market


1 Year Return

11.1%

DWNI

0.2%

DE Real Estate

2.3%

DE Market

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

Return vs Market: DWNI exceeded the German Market which returned 2.3% over the past year.


Shareholder returns

DWNIIndustryMarket
7 Day-1.8%-1.4%-1.2%
30 Day-5.2%-2.8%1.8%
90 Day-7.3%1.3%8.1%
1 Year13.6%11.1%3.1%0.2%5.6%2.3%
3 Year20.8%13.2%19.6%10.6%3.6%-5.5%
5 Year88.2%69.4%79.4%58.6%41.3%21.3%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Deutsche Wohnen undervalued compared to its fair value and its price relative to the market?

11.95x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: DWNI (€41.3) is trading above our estimate of fair value (€11.98)

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


Price To Earnings Ratio

PE vs Industry: DWNI is good value based on its PE Ratio (11.9x) compared to the DE Real Estate industry average (12.3x).

PE vs Market: DWNI is good value based on its PE Ratio (11.9x) compared to the German market (23.9x).


Price to Earnings Growth Ratio

PEG Ratio: DWNI's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: DWNI is good value based on its PB Ratio (1.2x) compared to the DE Real Estate industry average (1.3x).


Next Steps

Future Growth

How is Deutsche Wohnen forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

-8.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DWNI's earnings are forecast to decline over the next 3 years (-8.5% per year).

Earnings vs Market: DWNI's earnings are forecast to decline over the next 3 years (-8.5% per year).

High Growth Earnings: DWNI's earnings are forecast to decline over the next 3 years.

Revenue vs Market: DWNI's revenue is expected to decline over the next 3 years (-7% per year).

High Growth Revenue: DWNI's revenue is forecast to decline over the next 3 years (-7% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: DWNI's Return on Equity is forecast to be low in 3 years time (12.7%).


Next Steps

Past Performance

How has Deutsche Wohnen performed over the past 5 years?

3.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DWNI has a large one-off gain of €1.1B impacting its September 30 2020 financial results.

Growing Profit Margin: DWNI's current net profit margins (48.1%) are lower than last year .


Past Earnings Growth Analysis

Earnings Trend: DWNI's earnings have grown by 3.2% per year over the past 5 years.

Accelerating Growth: DWNI's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: DWNI had negative earnings growth (-29.4%) over the past year, making it difficult to compare to the Real Estate industry average (0.09%).


Return on Equity

High ROE: DWNI's Return on Equity (10.1%) is considered low.


Next Steps

Financial Health

How is Deutsche Wohnen's financial position?


Financial Position Analysis

Short Term Liabilities: DWNI's short term assets (€2.0B) exceed its short term liabilities (€1.4B).

Long Term Liabilities: DWNI's short term assets (€2.0B) do not cover its long term liabilities (€15.5B).


Debt to Equity History and Analysis

Debt Level: DWNI's debt to equity ratio (92.8%) is considered high.

Reducing Debt: DWNI's debt to equity ratio has increased from 83.7% to 92.8% over the past 5 years.

Debt Coverage: DWNI's debt is not well covered by operating cash flow (3.7%).

Interest Coverage: DWNI's interest payments on its debt are well covered by EBIT (4.4x coverage).


Balance Sheet


Next Steps

Dividend

What is Deutsche Wohnen current dividend yield, its reliability and sustainability?

2.18%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: DWNI's dividend (2.18%) is higher than the bottom 25% of dividend payers in the German market (1.02%).

High Dividend: DWNI's dividend (2.18%) is low compared to the top 25% of dividend payers in the German market (3.51%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (26%), DWNI's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: DWNI's dividends in 3 years are forecast to be covered by earnings (67% payout ratio).


Next Steps

Management

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

3.2yrs

Average management tenure


CEO

Michael Zahn (57 yo)

12.08yrs

Tenure

€2,309,000

Compensation

Mr. Michael Zahn has been Member of Supervisory Board at DIC Asset AG since July 8, 2020. Mr. Zahn is Chairman of the Management Board and Chief Executive Officer at Deutsche Wohnen SE since December 2008 ...


CEO Compensation Analysis

Compensation vs Market: Michael's total compensation ($USD2.79M) is below average for companies of similar size in the German market ($USD5.38M).

Compensation vs Earnings: Michael's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Michael Zahn
Chairman of Management Board & CEO12.08yrs€2.31m0.024%
€ 3.4m
Philip Grosse
CFO & Member of Management Board4.33yrs€1.12m0.0062%
€ 874.6k
Lars Urbansky
COO & Member of Management Board1.75yrs€677.93k0.00035%
€ 49.7k
Henrik Thomsen
Chief Development Officer & Member of Management Board2yrs€620.00k0.00046%
€ 65.3k
Sebastian Jacob
Head of Investor Relationsno datano datano data
Marcus Eilers
Managing Director of Corporate Development & Strategyno datano datano data
Jens Koglin
Managing Director of Human Resourcesno datano datano data
Andy Herrmann
Managing Director of Financingno datano datano data

3.2yrs

Average Tenure

53yo

Average Age

Experienced Management: DWNI's management team is considered experienced (3.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Matthias Hunlein
Independent Chairman of Supervisory Board2.58yrs€255.00kno data
Arwed Fischer
Member of Supervisory Board1.58yrs€43.75kno data
Jurgen Fenk
Independent Deputy Chairman of Supervisory Board1yr€95.00kno data
Florian Stetter
Independent Member of Supervisory Board14.83yrs€105.00kno data
Kerstin Günther
Member of Supervisory Board0.58yrno datano data
Tina Kleingarn
Independent Member of Supervisory Board2.58yrs€77.92kno data

2.1yrs

Average Tenure

55yo

Average Age

Experienced Board: DWNI's board of directors are not considered experienced ( 2.1 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

Deutsche Wohnen SE's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Deutsche Wohnen SE
  • Ticker: DWNI
  • Exchange: XTRA
  • Founded: 1924
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: €14.198b
  • Shares outstanding: 343.77m
  • Website: https://www.deutsche-wohnen.com

Number of Employees


Location

  • Deutsche Wohnen SE
  • Mecklenburgische Strasse 57
  • Berlin
  • Berlin
  • 14197
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DWNIDB (Deutsche Boerse AG)YesBearer SharesDEEURJul 2006
DWNIXTRA (XETRA Trading Platform)YesBearer SharesDEEURJul 2006
DWHH.FOTCPK (Pink Sheets LLC)YesBearer SharesUSUSDJul 2006
0OBQLSE (London Stock Exchange)YesBearer SharesGBEURJul 2006
DWNIDBATS-CHIXE (BATS 'Chi-X Europe')YesBearer SharesGBEURJul 2006
DWNISWX (SIX Swiss Exchange)YesBearer SharesCHCHFJul 2006
DWNIWBAG (Wiener Boerse AG)YesBearer SharesATEURJul 2006
DWNIETLX (Eurotlx)YesBearer SharesITEURJul 2006
DWNI NBMV (Bolsa Mexicana de Valores)YesBearer SharesMXMXNJul 2006
DTCW.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDFeb 2017
DWNPDB (Deutsche Boerse AG)UNSPONSORED ADRDEEURFeb 2017
DWNNDB (Deutsche Boerse AG)NPV (NEW SHARES)DEEURDec 2020

Biography

Deutsche Wohnen SE develops and manages residential properties in Germany. The company operates through four segments: Residential Property Management, Disposals, Nursing home operators, and Nursing Proper...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/16 19:49
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.