XTRA:FIE

Stock Analysis Report

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Executive Summary

Fielmann Aktiengesellschaft invests in and operates optical and hearing aid businesses.


Snowflake Analysis

High growth potential with excellent balance sheet.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: FIE has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

3.6%

FIE

3.9%

DE Specialty Retail

2.1%

DE Market


1 Year Return

-8.0%

FIE

-5.7%

DE Specialty Retail

2.1%

DE Market

Return vs Industry: FIE underperformed the German Specialty Retail industry which returned -3.9% over the past year.

Return vs Market: FIE underperformed the German Market which returned 3% over the past year.


Shareholder returns

FIEIndustryMarket
7 Day3.6%3.9%2.1%
30 Day-4.6%-0.002%-0.8%
90 Day9.6%26.2%20.1%
1 Year-5.3%-8.0%-4.0%-5.7%4.2%2.1%
3 Year0.08%-5.9%-19.1%-53.1%3.7%-4.7%
5 Year14.4%2.2%-14.3%-55.8%10.7%-4.0%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

37.66x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: FIE (€62.15) is trading above our estimate of fair value (€43.67)

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


Price To Earnings Ratio

PE vs Industry: FIE is poor value based on its PE Ratio (37.7x) compared to the Specialty Retail industry average (13.2x).

PE vs Market: FIE is poor value based on its PE Ratio (37.7x) compared to the German market (21.1x).


Price to Earnings Growth Ratio

PEG Ratio: FIE is poor value based on its PEG Ratio (1.4x)


Price to Book Ratio

PB vs Industry: FIE is overvalued based on its PB Ratio (7.1x) compared to the DE Specialty Retail industry average (1x).


Next Steps

Future Growth

How is Fielmann forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

27.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FIE's forecast earnings growth (27.1% per year) is above the savings rate (0.2%).

Earnings vs Market: FIE's earnings (27.1% per year) are forecast to grow faster than the German market (22.4% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: FIE's revenue (8% per year) is forecast to grow faster than the German market (5.9% per year).

High Growth Revenue: FIE's revenue (8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FIE's Return on Equity is forecast to be high in 3 years time (20.9%)


Next Steps

Past Performance

How has Fielmann performed over the past 5 years?

0.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FIE has a large one-off loss of €79.7M impacting its March 31 2020 financial results.

Growing Profit Margin: FIE's current net profit margins (9.2%) are lower than last year (11.9%).


Past Earnings Growth Analysis

Earnings Trend: FIE's earnings have grown by 0.4% per year over the past 5 years.

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

Earnings vs Industry: FIE had negative earnings growth (-20.2%) over the past year, making it difficult to compare to the Specialty Retail industry average (-4.6%).


Return on Equity

High ROE: FIE's Return on Equity (19.3%) is considered low.


Next Steps

Financial Health

How is Fielmann's financial position?


Financial Position Analysis

Short Term Liabilities: FIE's short term assets (€565.0M) exceed its short term liabilities (€327.4M).

Long Term Liabilities: FIE's short term assets (€565.0M) exceed its long term liabilities (€335.1M).


Debt to Equity History and Analysis

Debt Level: FIE's debt to equity ratio (0.2%) is considered satisfactory.

Reducing Debt: FIE's debt to equity ratio has increased from 0.03% to 0.2% over the past 5 years.

Debt Coverage: FIE's debt is well covered by operating cash flow (23629.9%).

Interest Coverage: FIE's interest payments on its debt are well covered by EBIT (109.6x coverage).


Balance Sheet


Next Steps

Dividend

What is Fielmann current dividend yield, its reliability and sustainability?

2.56%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate FIE's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate FIE's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if FIE's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if FIE's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: FIE is not paying a notable dividend for the German market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of FIE's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

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

3.8yrs

Average management tenure


CEO

Marc Fielmann

0.67

Tenure

€2,998,000

Compensation

Mr. Marc Fielmann is Chief Executive Officer since April 12, 2018, Chairman of the Management Board since November 21, 2019 and Member of Management Board since January 2016 at Fielmann AG. Mr. Fielmann wa ...


CEO Compensation Analysis

Compensation vs Market: Marc's total compensation ($USD3.39M) is about average for companies of similar size in the German market ($USD3.54M).

Compensation vs Earnings: Marc's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Marc Fielmann
CEO & Chairman of the Management Board0.67yr€3.00m8.78% 468.0m
Georg Zeiss
Head of Finance4.5yrs€1.52mno data
Bastian Körber
Head of Sales & Member of the Management Board5.25yrs€1.52mno data
Michael Ferley
Member of Management Board3yrs€1.12mno data

3.8yrs

Average Tenure

Experienced Management: FIE's management team is considered experienced (3.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Hans Oltersdorf
Member of the Supervisory Board15yrs€48.00kno data
Mark Binz
Chairman of the Supervisory Boardno data€143.00kno data
Eva Schleifenbaum
Member of the Supervisory Boardno data€40.00kno data
Pier Righi
Member of the Supervisory Boardno data€45.00kno data
Jana Furcht
Member of the Supervisory Board10.5yrs€45.00kno data
Ralf Greve
Member of the Supervisory Board10yrs€48.00kno data
Fred Haselbach
Member of the Supervisory Board10yrs€40.00kno data
Petra Oettle
Member of the Supervisory Board10yrs€48.00kno data
Hans-Georg Frey
Member of the Supervisory Board10yrs€53.00kno data
Mathias Thürnau
Deputy Chairman of the Supervisory Boardno data€73.00kno data

10.0yrs

Average Tenure

Experienced Board: FIE's board of directors are seasoned and experienced ( 10 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Fielmann Aktiengesellschaft's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Fielmann Aktiengesellschaft
  • Ticker: FIE
  • Exchange: XTRA
  • Founded:
  • Industry: Specialty Stores
  • Sector: Retail
  • Market Cap: €5.329b
  • Shares outstanding: 83.99m
  • Website: https://www.fielmann.com

Number of Employees


Location

  • Fielmann Aktiengesellschaft
  • Weidestrasse 118a
  • Hamburg
  • Hamburg
  • 22083
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FIEDB (Deutsche Boerse AG)YesOrdinary SharesDEEURSep 1994
FIEXTRA (XETRA Trading Platform)YesOrdinary SharesDEEURSep 1994
0MG1LSE (London Stock Exchange)YesOrdinary SharesGBEURSep 1994
FLMN.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDSep 1994
FIEDBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURSep 1994
FIESWX (SIX Swiss Exchange)YesOrdinary SharesCHCHFSep 1994
FIEWBAG (Wiener Boerse AG)YesOrdinary SharesATEURSep 1994
FLMN.YOTCPK (Pink Sheets LLC)ADRUSUSDDec 2011

Biography

Fielmann Aktiengesellschaft invests in and operates optical and hearing aid businesses. The company manufactures, distributes, and retails visual aids and other optical products, including glasses, frames, lenses, sunglasses, contact lenses and accessories, and various merchandise, as well as hearing aids and accessories. As of December 31, 2019, it operated 776 stores, including 602 in Germany, 43 in Switzerland, 38 Austria, 20 in Poland, 27 in Italy, 28 in Slovenia, 3 in Luxembourg, and 15 in the rest of Europe. The company also 50 smaller locations in Eastern Europe. Fielmann Aktiengesellschaft also offers its products through online stores. The company is headquartered in Hamburg, Germany. Fielmann Aktiengesellschaft is a subsidiary of Korva SE. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/07 20:52
End of Day Share Price2020/07/07 00:00
Earnings2020/03/31
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.