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VIB Vermögen

XTRA:VIH
Snowflake Description

Proven track record second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VIH
XTRA
€676M
Market Cap
  1. Home
  2. DE
  3. Real Estate
Company description

VIB Vermögen AG develops, buys, holds, and manages commercial real estate properties in Southern Germany. The last earnings update was 32 days ago. More info.


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VIH Share Price and Events
7 Day Returns
-1.2%
XTRA:VIH
1.6%
DE Real Estate
0.3%
DE Market
1 Year Returns
10.9%
XTRA:VIH
4.1%
DE Real Estate
-11.7%
DE Market
VIH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
VIB Vermögen (VIH) -1.2% -2.8% 5.6% 10.9% 32.4% 79.6%
DE Real Estate 1.6% -5.4% -2.7% 4.1% 39.1% 121.9%
DE Market 0.3% -2.8% -0.8% -11.7% 12.2% 6.1%
1 Year Return vs Industry and Market
  • VIH outperformed the Real Estate industry which returned 4.1% over the past year.
  • VIH outperformed the Market in Germany which returned -11.7% over the past year.
Price Volatility
VIH
Industry
5yr Volatility vs Market

Value

 Is VIB Vermögen 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 VIB Vermögen 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 VIB Vermögen.

XTRA:VIH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9%
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 XTRA:VIH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.02
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.025 (1 + (1- 30%) (95.43%))
1.475
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.47
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.475 * 5.96%)
9.02%

Discounted Cash Flow Calculation for XTRA:VIH using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for VIB Vermögen 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.

XTRA:VIH DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 9.02%)
2019 -9.60 Analyst x1 -8.81
2020 -13.30 Analyst x1 -11.19
2021 3.70 Analyst x1 2.86
2022 5.39 Est @ 45.57% 3.81
2023 7.11 Est @ 31.97% 4.62
2024 8.70 Est @ 22.45% 5.18
2025 10.08 Est @ 15.78% 5.51
2026 11.20 Est @ 11.11% 5.61
2027 12.08 Est @ 7.85% 5.55
2028 12.75 Est @ 5.56% 5.38
Present value of next 10 years cash flows €18.52
XTRA:VIH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €12.75 × (1 + 0.23%) ÷ (9.02% – 0.23%)
€145.33
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €145.33 ÷ (1 + 9.02%)10
€61.28
XTRA:VIH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €18.52 + €61.28
€79.80
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €79.80 / 27.58
€2.89
XTRA:VIH Discount to Share Price
Calculation Result
Value per share (EUR) From above. €2.89
Current discount Discount to share price of €24.50
= -1 x (€24.50 - €2.89) / €2.89
-746.7%

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

  • The current share price of VIB Vermögen 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 VIB Vermögen's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are VIB Vermögen's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
XTRA:VIH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €2.13
XTRA:VIH Share Price ** XTRA (2019-06-14) in EUR €24.5
Germany Real Estate Industry PE Ratio Median Figure of 35 Publicly-Listed Real Estate Companies 13.22x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.7x

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

** Primary Listing of VIB Vermögen.

XTRA:VIH PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= XTRA:VIH Share Price ÷ EPS (both in EUR)

= 24.5 ÷ 2.13

11.51x

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

  • VIB Vermögen is good value based on earnings compared to the DE Real Estate industry average.
  • VIB Vermögen is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does VIB Vermögen's expected growth come at a high price?
Raw Data
XTRA:VIH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.51x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
2.7%per year
Germany Real Estate Industry PEG Ratio Median Figure of 20 Publicly-Listed Real Estate Companies 0.58x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

XTRA:VIH PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.51x ÷ 2.7%

4.23x

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

  • VIB Vermögen is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on VIB Vermögen's assets?
Raw Data
XTRA:VIH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €18.30
XTRA:VIH Share Price * XTRA (2019-06-14) in EUR €24.5
Germany Real Estate Industry PB Ratio Median Figure of 42 Publicly-Listed Real Estate Companies 1.3x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.76x
XTRA:VIH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= XTRA:VIH Share Price ÷ Book Value per Share (both in EUR)

= 24.5 ÷ 18.30

1.34x

* Primary Listing of VIB Vermögen.

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

  • VIB Vermögen is overvalued based on assets compared to the DE Real Estate industry average.
X
Value checks
We assess VIB Vermögen'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 Real Estate 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 Real Estate industry average (and greater than 0)? (1 check)
  5. VIB Vermögen has a total score of 2/6, 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 VIB Vermögen expected to perform in the next 1 to 3 years based on estimates from 4 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
2.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is VIB Vermögen expected to grow at an attractive rate?
  • VIB Vermögen's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • VIB Vermögen's earnings growth is positive but not above the Germany market average.
  • VIB Vermögen's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
XTRA:VIH Future Growth Rates Data Sources
Data Point Source Value (per year)
XTRA:VIH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 2.7%
XTRA:VIH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 5.9%
Germany Real Estate Industry Earnings Growth Rate Market Cap Weighted Average -3.4%
Germany Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 3.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*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
XTRA:VIH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
XTRA:VIH Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 103 68 62 3
2020-12-31 97 59 61 4
2019-12-31 91 63 56 4
XTRA:VIH Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 88 59
2018-12-31 87 61 58
2018-09-30 86 58
2018-06-30 85 52
2018-03-31 85 51
2017-12-31 84 59 52
2017-09-30 83 49
2017-06-30 82 50
2017-03-31 81 50
2016-12-31 80 58 47
2016-09-30 79 43
2016-06-30 78 56 44

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • VIB Vermögen's earnings are expected to grow by 2.7% yearly, however this is not considered high growth (20% yearly).
  • VIB Vermögen's revenue is expected to grow by 5.9% 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
XTRA:VIH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from VIB Vermögen Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XTRA:VIH Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 2.24 2.40 2.11 3.00
2020-12-31 2.22 2.58 2.02 4.00
2019-12-31 2.04 2.04 2.04 1.00
XTRA:VIH Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 2.13
2018-12-31 2.09
2018-09-30 2.09
2018-06-30 1.92
2018-03-31 1.86
2017-12-31 1.87
2017-09-30 1.77
2017-06-30 1.81
2017-03-31 1.79
2016-12-31 1.71
2016-09-30 1.54
2016-06-30 1.59

*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.
  • VIB Vermögen is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess VIB Vermögen'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.
VIB Vermögen has a total score of 2/6, 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 VIB Vermögen 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 VIB Vermögen's growth in the last year to its industry (Real Estate).
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.
  • VIB Vermögen's year on year earnings growth rate has been positive over the past 5 years.
  • VIB Vermögen's 1-year earnings growth exceeds its 5-year average (15.4% vs 15.2%)
  • VIB Vermögen's earnings growth has exceeded the DE Real Estate industry average in the past year (15.4% vs 7.1%).
Earnings and Revenue History
VIB Vermögen'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 VIB Vermögen Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XTRA:VIH Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 88.18 58.78 3.71
2018-12-31 86.79 57.61 3.68
2018-09-30 85.93 57.92 3.80
2018-06-30 85.09 52.32 3.68
2018-03-31 84.63 50.94 3.67
2017-12-31 83.70 51.60 3.62
2017-09-30 83.32 48.74 3.84
2017-06-30 81.97 49.68 3.93
2017-03-31 80.65 49.85 3.97
2016-12-31 79.76 47.24 3.97
2016-09-30 78.89 42.63 3.82
2016-06-30 77.94 43.96 3.69
2016-03-31 76.67 40.41 3.56
2015-12-31 75.15 40.12 3.46
2015-09-30 72.93 37.27 3.27
2015-06-30 71.74 31.80 3.30
2015-03-31 71.03 31.62 3.04
2014-12-31 70.09 31.31 3.14
2014-09-30 69.27 29.10 2.92
2014-06-30 68.11 28.16 2.87
2014-03-31 65.95 27.48 2.83
2013-12-31 65.19 27.08 2.74
2013-09-30 63.95 25.09 2.80
2013-06-30 63.19 24.83 2.54
2013-03-31 62.24 23.81 2.67
2012-12-31 59.93 23.28 2.39
2012-09-30 57.29 21.94 2.28
2012-06-30 54.82 20.14 2.20

*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.
  • VIB Vermögen has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • VIB Vermögen used its assets more efficiently than the DE Real Estate industry average last year based on Return on Assets.
  • VIB Vermögen's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess VIB Vermögen'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 Real Estate 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.
VIB Vermögen 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 VIB Vermögen'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 VIB Vermögen's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • VIB Vermögen's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • VIB Vermögen's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of VIB Vermögen'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 0.1x 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 VIB Vermögen Company Filings, last reported 2 months ago.

XTRA:VIH Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 527.59 644.85 31.02
2018-12-31 527.59 644.85 31.02
2018-09-30 507.06 637.80 29.50
2018-06-30 507.06 637.80 29.50
2018-03-31 483.36 614.09 37.98
2017-12-31 483.36 614.09 37.98
2017-09-30 465.70 612.07 35.72
2017-06-30 465.70 612.07 35.72
2017-03-31 443.53 622.32 39.12
2016-12-31 443.53 622.32 39.12
2016-09-30 425.93 556.63 39.58
2016-06-30 425.93 556.63 39.58
2016-03-31 406.75 559.18 33.11
2015-12-31 406.75 559.18 33.11
2015-09-30 389.52 536.39 24.13
2015-06-30 389.52 536.39 24.13
2015-03-31 371.66 532.67 37.79
2014-12-31 371.66 532.67 37.79
2014-09-30 333.28 520.57 21.70
2014-06-30 333.28 520.57 21.70
2014-03-31 319.88 507.78 25.50
2013-12-31 319.88 507.78 25.50
2013-09-30 287.54 467.27 32.89
2013-06-30 287.54 467.27 32.89
2013-03-31 272.83 480.45 29.14
2012-12-31 272.83 480.89 29.14
2012-09-30 252.67 431.61 18.81
2012-06-30 252.67 431.61 18.81
  • VIB Vermögen's level of debt (122.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (158.7% vs 122.2% today).
  • Debt is not well covered by operating cash flow (9.4%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.5x coverage).
X
Financial health checks
We assess VIB Vermögen'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. VIB Vermögen has a total score of 2/6, 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 VIB Vermögen'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
2.65%
Current annual income from VIB Vermögen dividends. Estimated to be 3.05% next year.
If you bought €2,000 of VIB Vermögen shares you are expected to receive €53 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?
  • VIB Vermögen's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • VIB Vermögen's dividend is below the markets top 25% of dividend payers in Germany (3.91%).
Upcoming dividend payment

Purchase VIB Vermögen 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
XTRA:VIH 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 4 Analyst Estimates (S&P Global) See Below
Germany Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 25 Stocks 2.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3.2%
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 3.9%

Industry and Market average data is calculated daily.

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

XTRA:VIH Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.82 3.00
2020-12-31 0.75 5.00
2019-12-31 0.70 5.00
XTRA:VIH Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-04-30 0.650 2.604
2019-01-15 0.650 2.801
2018-04-25 0.600 2.727
2018-01-15 0.600 2.833
2017-06-30 0.550 2.593
2016-06-30 0.510 2.583
2015-04-22 0.480 2.790
2015-01-15 0.480 2.894
2014-04-17 0.450 3.232
2014-01-15 0.450 3.669
2013-04-18 0.400 3.780
2012-04-18 0.350 3.959
2011-04-07 0.300 4.107
2010-05-05 0.250 3.391

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

  • Whilst dividend payments have been stable, VIB Vermögen has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but VIB Vermögen only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of VIB Vermögen's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.8x coverage).
X
Income/ dividend checks
We assess VIB Vermögen'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 VIB Vermögen afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. VIB Vermögen has a total score of 3/6, 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 VIB Vermögen'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
Martin Pfandzelter
TENURE AS CEO 2.4 years
CEO Bio

Mr. Martin Pfandzelter has been Chairman of Management Board and Chief Executive Officer at VIB Vermögen AG since January 1, 2017. Mr. Pfandzelter served as the Chief Operating Officer of VIB Vermoegen AG Since October 1, 2014 and serves its Member of the Management Board. Mr. Pfandzelter responsible for real estate at VIB Vermogen AG. Mr. Pfandzelter has many years of experience in the field of financing, restructuring and asset management of commercial real estate. Mr. Pfandzelter holds Diplom Kaufmann (Univ.).

CEO Compensation
  • Insufficient data for Martin to compare compensation growth.
  • Insufficient data for Martin to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the VIB Vermögen management team in years:

8.5
Average Tenure
53
Average Age
  • The average tenure for the VIB Vermögen management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Martin Pfandzelter

TITLE
Chairman of Management Board & Chief Executive Officer
TENURE
2.4 yrs

Holger Pilgenrother

TITLE
CFO & Member of Management Board
AGE
53
TENURE
6.5 yrs

Birgit Schreiber

TITLE
Head of Accounting
TENURE
10.4 yrs

Petra Riechert

TITLE
Investor Relations
AGE
50

Roswitha Angermair

TITLE
Head of Real Estate Department
TENURE
11.4 yrs

Rainer Hettmer

TITLE
Head of Participations Controlling and Financing
AGE
60
Board of Directors

Franz-Xaver Schmidbauer

TITLE
Supervisory Board Chairman
AGE
75

Jürgen Wittmann

TITLE
Supervisory Board Deputy Chairman
AGE
55
TENURE
7.9 yrs

Rolf Klug

TITLE
Supervisory Board Member
AGE
69
TENURE
19.4 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 (€)
X
Management checks
We assess VIB Vermögen'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. VIB Vermögen 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

Is VIB Vermögen AG (ETR:VIH) Potentially Underrated?

VIB Vermögen AG (ETR:VIH) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … dividend-paying company

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Taking A Look At VIB Vermögen AG's (ETR:VIH) ROE

This article is for those who would like to learn about Return On Equity (ROE). … That means that for every €1 worth of shareholders' equity, it generated €0.12 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

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Has VIB Vermögen AG's (ETR:VIH) Earnings Momentum Changed Recently?

When VIB Vermögen AG (ETR:VIH) announced its most recent earnings (30 June 2018), I did two things: looked at its past earnings track record, then look at what is happening in the industry. … Understanding how VIB Vermögen performed requires a benchmark rather than trying to assess a standalone number at one point in time. … VIH's trailing twelve-month earnings (from 30 June 2018) of €52.83m has

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VIB Vermögen AG (ETR:VIH): Dividend Is Coming In 2 Days, Should You Buy?

Investors who want to cash in on VIB Vermögen AG's (ETR:VIH) upcoming dividend of €0.60 per share have only 2 days left to buy the shares before its ex-dividend date, 29 June 2018, in time for dividends payable on the 03 July 2018. … Below, I'm going to look at the latest data and analyze the stock and its dividend property in further detail. … 5 questions to ask before buying a dividend stock

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Should You Be Tempted To Sell VIB Vermögen AG (XTRA:VIH) At Its Current PE Ratio?

and want to better understand how you can grow your money by investing in VIB Vermögen AG (XTRA:VIH). … VIB Vermögen AG (XTRA:VIH) is trading with a trailing P/E of 12x, which is higher than the industry average of 9.1x. … While this makes VIH appear like a stock to avoid or sell if you own it, you might change your mind after I explain the assumptions behind the P/E ratio.

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Does VIB Vermögen AG (ETR:VIH) Go Up With The Market?

Not every stock is exposed to the same level of market risk. … VIH's beta implies it may be a stock that investors with high-beta portfolios might find relevant if they wanted to reduce their exposure to market risk, especially during times of downturns. … VIH, with its market capitalisation of €612.27M, is a small-cap stock, which generally have higher beta than similar companies of larger size.

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Is VIB Vermögen AG (ETR:VIH) Cheap For A Reason?

Two major red flags for VIH are its debt level exceeds equity on its balance sheet, and its cash from its core activities is only enough to cover a mere 9.50% of this large debt amount. … Although VIH has high near term liquidity, with short term assets (cash and other liquid assets) covering upcoming one-year liabilities, it is not enough to cover longer term liabilities. … One reason I do like VIH as a business is its low level of fixed assets on its balance sheet (0.75% of total assets).

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Should You Be Tempted To Sell VIB Vermögen AG (ETR:VIH) Because Of Its PE Ratio?

VIB Vermögen AG (XTRA:VIH) is trading with a trailing P/E of 11.3x, which is higher than the industry average of 8.6x. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for VIH Price per share = €21.1 Earnings per share = €1.87 ∴ Price-Earnings Ratio = €21.1 ÷ €1.87 = 11.3x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … VIH’s P/E of 11.3x is higher than its industry peers (8.6x), which implies that each dollar of VIH’s earnings is being overvalued by investors.

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Should You Expect VIB Vermögen AG (ETR:VIH) To Continue Delivering An ROE Of 11.58%?

Check out our latest analysis for VIB Vermögen Breaking down Return on Equity Return on Equity (ROE) weighs VIB Vermögen’s profit against the level of its shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is assessed against cost of equity, which is measured using the Capital Asset Pricing Model (CAPM) – but let’s not dive into the details of that today. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity XTRA:VIH Last Perf Apr 10th 18 Basically, profit margin measures how much of revenue trickles down into earnings which illustrates how efficient the business is with its cost management.

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VIB Vermögen AG (ETR:VIH): What Is Driving Margins?

To get some insight, this article will interpret VIB Vermögen's margin performance to help recognise the underlying make-up of revenue and expenses that is responsible for driving future earnings expectations and what it means for VIH's returns relative to its competitors. … Margin Calculation for VIH Profit Margin = Net Income ÷ Revenue ∴ Profit Margin = 48.74 Million ÷ 83.32 Million = 58.50% There has been an expansion in VIB Vermögen's margin over the past five years, due to 19.08% in average net income growth surpassing 7.77% in average revenue growth, indicating that that the previous revenue growth has been acompanied by a growing portion translated in to earnings. … This suggests future earnings growth is driven further by an expected reduction in costs as opposed to revenue growth, which is enlarging the incremental amount of net income that is retained from falling revenue.

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Company Info

Description

VIB Vermögen AG develops, buys, holds, and manages commercial real estate properties in Southern Germany. As of December 31, 2017, the company’s real estate portfolio consisted of 105 properties with a total rentable area of 1.06 million square meters. Its property portfolio includes logistics properties, industrial real estate properties, shopping centers, and retail parks, as well as commercial and service centers. The company was founded in 1993 and is headquartered in Neuburg an der Donau, Germany.

Details
Name: VIB Vermögen AG
VIH
Exchange: XTRA
Founded: 1993
€675,704,585
27,579,779
Website: http://www.vib-ag.de
Address: VIB Vermögen AG
Tilly-Park 1,
Neuburg an der Donau,
Bavaria, 86633,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA VIH Bearer Shares XETRA Trading Platform DE EUR 28. Nov 2005
DB VIH Bearer Shares Deutsche Boerse AG DE EUR 28. Nov 2005
LSE 0VXC Bearer Shares London Stock Exchange GB EUR 28. Nov 2005
Number of employees
Current staff
Staff numbers
39
VIB Vermögen employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/16 21:06
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/05/16
Last earnings filing: 2019/05/15
Last earnings reported: 2019/03/31
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.