DB:UZQ

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Kogan.com Ltd operates as an online retailer in Australia.


Snowflake Analysis

Flawless balance sheet with high growth potential.

Share Price & News

How has Kogan.com's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: UZQ's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

16.6%

UZQ

1.7%

DE Online Retail

-1.4%

DE Market


1 Year Return

300.9%

UZQ

102.5%

DE Online Retail

8.0%

DE Market

Return vs Industry: UZQ exceeded the German Online Retail industry which returned 104.1% over the past year.

Return vs Market: UZQ exceeded the German Market which returned 8.1% over the past year.


Shareholder returns

UZQIndustryMarket
7 Day16.6%1.7%-1.4%
30 Day22.8%-3.0%-1.2%
90 Day129.7%22.3%12.6%
1 Year312.8%300.9%103.4%102.5%10.4%8.0%
3 Year755.0%695.1%105.5%100.3%4.7%-3.7%
5 Yearn/a80.3%75.0%15.9%0.3%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Kogan.com undervalued compared to its fair value and its price relative to the market?

95.21x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: UZQ (€11.6) is trading above our estimate of fair value (€4.61)

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


Price To Earnings Ratio

PE vs Industry: UZQ is poor value based on its PE Ratio (95.2x) compared to the XE Online Retail industry average (22.4x).

PE vs Market: UZQ is poor value based on its PE Ratio (95.2x) compared to the German market (21.1x).


Price to Earnings Growth Ratio

PEG Ratio: UZQ is poor value based on its PEG Ratio (3x)


Price to Book Ratio

PB vs Industry: UZQ is overvalued based on its PB Ratio (33.8x) compared to the DE Online Retail industry average (3.6x).


Next Steps

Future Growth

How is Kogan.com forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

31.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: UZQ's forecast earnings growth (31.9% per year) is above the savings rate (0.2%).

Earnings vs Market: UZQ's earnings (31.9% per year) are forecast to grow faster than the German market (23.3% per year).

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

Revenue vs Market: UZQ's revenue (16.9% per year) is forecast to grow faster than the German market (5.8% per year).

High Growth Revenue: UZQ's revenue (16.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: UZQ's Return on Equity is forecast to be high in 3 years time (21.2%)


Next Steps

Past Performance

How has Kogan.com performed over the past 5 years?

63.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: UZQ has high quality earnings.

Growing Profit Margin: UZQ's current net profit margins (4.4%) are higher than last year (3%).


Past Earnings Growth Analysis

Earnings Trend: UZQ's earnings have grown significantly by 63.8% per year over the past 5 years.

Accelerating Growth: UZQ's earnings growth over the past year (42.3%) is below its 5-year average (63.8% per year).

Earnings vs Industry: UZQ earnings growth over the past year (42.3%) exceeded the Online Retail industry -11.5%.


Return on Equity

High ROE: UZQ's Return on Equity (35.5%) is considered high.


Next Steps

Financial Health

How is Kogan.com's financial position?


Financial Position Analysis

Short Term Liabilities: UZQ's short term assets (A$138.2M) exceed its short term liabilities (A$93.5M).

Long Term Liabilities: UZQ's short term assets (A$138.2M) exceed its long term liabilities (A$2.2M).


Debt to Equity History and Analysis

Debt Level: UZQ is debt free.

Reducing Debt: UZQ has no debt compared to 5 years ago when its debt to equity ratio was 53.5%.

Debt Coverage: UZQ has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: UZQ has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Kogan.com current dividend yield, its reliability and sustainability?

0.75%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: UZQ's dividend (0.75%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.25%).

High Dividend: UZQ's dividend (0.75%) is low compared to the top 25% of dividend payers in the German market (3.81%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, UZQ has been paying a dividend for less than 10 years.

Growing Dividend: UZQ's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (78.6%), UZQ's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: UZQ's dividends in 3 years are forecast to be covered by earnings (75.5% payout ratio).


Next Steps

Management

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

4.3yrs

Average board tenure


CEO

Ruslan Kogan

14.58yrs

Tenure

AU$439,323

Compensation

Mr. Ruslan Kogan, BBS founded Kogan.Com Limited in 2006. Mr. Kogan has been the Chief Executive Officer of Kogan.Com Limited since 2006 and serves as its Executive Director. Prior to founding Kogan.com, Mr ...


CEO Compensation Analysis

Compensation vs Market: Ruslan's total compensation ($USD314.09K) is below average for companies of similar size in the German market ($USD1.48M).

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


Board Members

NamePositionTenureCompensationOwnership
Ruslan Kogan
Founder14.58yrsAU$439.32k20.08%
A$ 242.2m
David Shafer
CFO, COO & Executive Director9.75yrsAU$379.37k7.69%
A$ 92.8m
Harry Debney
Independent Non-Executive Director4.25yrsAU$110.00k0.087%
A$ 1.1m
Gregory Ridder
Independent Non-Executive Chairman4.25yrsAU$185.00k0.16%
A$ 2.0m

4.3yrs

Average Tenure

Experienced Board: UZQ's board of directors are considered experienced (4.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: UZQ insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 12.3%.


Top Shareholders

Company Information

Kogan.com Ltd's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Kogan.com Ltd
  • Ticker: UZQ
  • Exchange: DB
  • Founded: 2006
  • Industry: Internet and Direct Marketing Retail
  • Sector: Retail
  • Market Cap: AU$1.986b
  • Listing Market Cap: AU$1.206b
  • Shares outstanding: 105.28m
  • Website: https://www.kogancorporate.com

Location

  • Kogan.com Ltd
  • 139 Gladstone Street
  • South Melbourne
  • Melbourne
  • Victoria
  • 3205
  • Australia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KGNCHIA (Chi-X Australia)YesOrdinary SharesAUAUDJul 2016
UZQDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJul 2016
KGNASX (Australian Securities Exchange)YesOrdinary SharesAUAUDJul 2016
KGGN.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJul 2016

Biography

Kogan.com Ltd operates as an online retailer in Australia. The company offers approximately 2,000 brands across a range of categories, including consumer electronics, appliances, homewares, hardware, toys, ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/05 21:38
End of Day Share Price2020/08/05 00:00
Earnings2019/12/31
Annual Earnings2019/06/30


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.