XTRA:S92

Stock Analysis Report

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Market Cap

€1.5b

Last Updated

2021/06/23 22:24 UTC

Data Sources

Company Financials +

Executive Summary

SMA Solar Technology AG, together with its subsidiaries, develops, produces, and sells solar and battery inverters, monitoring systems for photovoltaic (PV) systems, medium-voltage technology products, transformers, and chokes worldwide. More Details


Snowflake Analysis

Excellent balance sheet with reasonable growth potential.


Similar Companies

Share Price & News

How has SMA Solar Technology's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: S92 is not significantly more volatile than the rest of German stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: S92's weekly volatility (6%) has been stable over the past year.


Market Performance


7 Day Return

-0.4%

S92

-3.7%

DE Semiconductor

-1.3%

DE Market


1 Year Return

57.7%

S92

58.5%

DE Semiconductor

29.1%

DE Market

Return vs Industry: S92 underperformed the German Semiconductor industry which returned 58.8% over the past year.

Return vs Market: S92 exceeded the German Market which returned 29.6% over the past year.


Shareholder returns

S92IndustryMarket
7 Day-0.4%-3.7%-1.3%
30 Day-7.0%-0.2%1.5%
90 Day-11.3%-6.0%4.8%
1 Year58.8%57.7%59.9%58.5%33.3%29.1%
3 Year22.0%21.2%62.7%56.6%31.6%20.8%
5 Year-1.3%-3.6%167.3%154.4%64.2%41.4%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is SMA Solar Technology undervalued compared to its fair value and its price relative to the market?

40.67x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: S92 (€42.62) is trading above our estimate of fair value (€36.23)

Significantly Below Fair Value: S92 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: S92 is poor value based on its PE Ratio (40.7x) compared to the German Semiconductor industry average (39.1x).

PE vs Market: S92 is poor value based on its PE Ratio (40.7x) compared to the German market (26.8x).


Price to Earnings Growth Ratio

PEG Ratio: S92 is poor value based on its PEG Ratio (1.6x)


Price to Book Ratio

PB vs Industry: S92's PB Ratio (3.3x) is in line with the DE Semiconductor industry average.


Future Growth

How is SMA Solar Technology forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

25.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: S92's forecast earnings growth (25.2% per year) is above the savings rate (0.01%).

Earnings vs Market: S92's earnings (25.2% per year) are forecast to grow faster than the German market (14.4% per year).

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

Revenue vs Market: S92's revenue (8.8% per year) is forecast to grow faster than the German market (5.7% per year).

High Growth Revenue: S92's revenue (8.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if S92's Return on Equity is forecast to be high in 3 years time


Past Performance

How has SMA Solar Technology performed over the past 5 years?

-30.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: S92 has a large one-off gain of €52.0M impacting its March 31 2021 financial results.

Growing Profit Margin: S92's current net profit margins (3.7%) are higher than last year (0.2%).


Past Earnings Growth Analysis

Earnings Trend: S92 has become profitable over the past 5 years, growing earnings by -30.5% per year.

Accelerating Growth: S92's earnings growth over the past year (2121.6%) exceeds its 5-year average (-30.5% per year).

Earnings vs Industry: S92 earnings growth over the past year (2121.6%) exceeded the Semiconductor industry -24.8%.


Return on Equity

High ROE: S92's Return on Equity (8.1%) is considered low.


Financial Health

How is SMA Solar Technology's financial position?


Financial Position Analysis

Short Term Liabilities: S92's short term assets (€745.1M) exceed its short term liabilities (€351.8M).

Long Term Liabilities: S92's short term assets (€745.1M) exceed its long term liabilities (€275.6M).


Debt to Equity History and Analysis

Debt Level: S92's debt to equity ratio (2.8%) is considered satisfactory.

Reducing Debt: S92's debt to equity ratio has reduced from 6.6% to 2.8% over the past 5 years.

Debt Coverage: S92's debt is well covered by operating cash flow (286.4%).

Interest Coverage: Insufficient data to determine if S92's interest payments on its debt are well covered by EBIT.


Balance Sheet


Dividend

What is SMA Solar Technology current dividend yield, its reliability and sustainability?

0.72%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate S92's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate S92'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 S92's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if S92's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: S92 is not paying a notable dividend for the German market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of S92'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?

6.7yrs

Average management tenure


CEO

Jurgen Reinert (53 yo)

2.67yrs

Tenure

€1,746,000

Compensation

Dr.-Ing. Jurgen Reinert has been Chief Executive Officer of SMA Solar Technology AG since October 15, 2018. Dr.-Ing. Reinert served as Deputy Chief Executive Officer of SMA Solar Technology AG until Octobe...


CEO Compensation Analysis

Compensation vs Market: Jurgen's total compensation ($USD2.08M) is about average for companies of similar size in the German market ($USD1.64M).

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


Leadership Team

Experienced Management: S92's management team is seasoned and experienced (6.7 years average tenure).


Board Members

Experienced Board: S92's board of directors are considered experienced (5.5 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

SMA Solar Technology AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: SMA Solar Technology AG
  • Ticker: S92
  • Exchange: XTRA
  • Founded: 1981
  • Industry: Semiconductor Equipment
  • Sector: Semiconductors
  • Market Cap: €1.479b
  • Shares outstanding: 34.70m
  • Website: https://www.sma.de

Number of Employees


Location

  • SMA Solar Technology AG
  • Sonnenallee 1
  • Niestetal
  • Hessen
  • 34266
  • Germany

Listings


Biography

SMA Solar Technology AG, together with its subsidiaries, develops, produces, and sells solar and battery inverters, monitoring systems for photovoltaic (PV) systems, medium-voltage technology products, tra...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/06/23 22:24
End of Day Share Price2021/06/23 00:00
Earnings2021/03/31
Annual Earnings2020/12/31


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.