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Market Cap

€4.3b

Last Updated

2021/05/05 22:15 UTC

Data Sources

Company Financials +

Executive Summary

Siltronic AG, together with its subsidiaries, manufactures and sells semiconductor silicon wafers with diameters of up to 300 mm worldwide. More Details


Snowflake Analysis

Excellent balance sheet with reasonable growth potential.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: WAF is less volatile than 75% of German stocks over the past 3 months, typically moving +/- 1% a week.

Volatility Over Time: WAF's weekly volatility (1%) has been stable over the past year.


Market Performance


7 Day Return

-0.3%

WAF

-4.6%

DE Semiconductor

-1.2%

DE Market


1 Year Return

74.2%

WAF

82.9%

DE Semiconductor

38.3%

DE Market

Return vs Industry: WAF underperformed the German Semiconductor industry which returned 89.3% over the past year.

Return vs Market: WAF exceeded the German Market which returned 35.2% over the past year.


Shareholder returns

WAFIndustryMarket
7 Day-0.3%-4.6%-1.2%
30 Day4.7%-9.5%0.05%
90 Day0.8%-2.3%6.2%
1 Year82.8%74.2%84.6%82.9%43.1%38.3%
3 Year7.3%-3.8%40.5%35.3%21.1%10.7%
5 Year927.4%804.8%180.6%167.3%54.7%33.0%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

26.68x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: WAF (€143) is trading above our estimate of fair value (€106.79)

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


Price To Earnings Ratio

PE vs Industry: WAF is good value based on its PE Ratio (26.7x) compared to the DE Semiconductor industry average (53x).

PE vs Market: WAF is good value based on its PE Ratio (26.7x) compared to the German market (27.8x).


Price to Earnings Growth Ratio

PEG Ratio: WAF is poor value based on its PEG Ratio (1.2x)


Price to Book Ratio

PB vs Industry: WAF is overvalued based on its PB Ratio (5.5x) compared to the DE Semiconductor industry average (3.3x).


Future Growth

How is Siltronic forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

22.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: WAF's forecast earnings growth (22.4% per year) is above the savings rate (0.01%).

Earnings vs Market: WAF's earnings (22.4% per year) are forecast to grow faster than the German market (19.5% per year).

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

Revenue vs Market: WAF's revenue (7.9% per year) is forecast to grow faster than the German market (5.5% per year).

High Growth Revenue: WAF's revenue (7.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: WAF's Return on Equity is forecast to be low in 3 years time (16.8%).


Past Performance

How has Siltronic performed over the past 5 years?

33.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: WAF has a high level of non-cash earnings.

Growing Profit Margin: WAF's current net profit margins (13.3%) are lower than last year (17.7%).


Past Earnings Growth Analysis

Earnings Trend: WAF has become profitable over the past 5 years, growing earnings by 33.1% per year.

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

Earnings vs Industry: WAF had negative earnings growth (-28.6%) over the past year, making it difficult to compare to the Semiconductor industry average (-41.4%).


Return on Equity

High ROE: WAF's Return on Equity (21.4%) is considered high.


Financial Health

How is Siltronic's financial position?


Financial Position Analysis

Short Term Liabilities: WAF's short term assets (€824.1M) exceed its short term liabilities (€219.2M).

Long Term Liabilities: WAF's short term assets (€824.1M) do not cover its long term liabilities (€828.4M).


Debt to Equity History and Analysis

Debt Level: WAF is debt free.

Reducing Debt: WAF has no debt compared to 5 years ago when its debt to equity ratio was 7.8%.

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

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


Balance Sheet


Dividend

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

1.40%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: WAF's dividend (1.4%) is higher than the bottom 25% of dividend payers in the German market (1.06%).

High Dividend: WAF's dividend (1.4%) is low compared to the top 25% of dividend payers in the German market (3.14%).


Stability and Growth of Payments

Stable Dividend: WAF has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: WAF has only been paying a dividend for 3 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (37.3%), WAF's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: WAF's dividends in 3 years are forecast to be well covered by earnings (39% payout ratio).


Next Steps

Management

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

10.5yrs

Average management tenure


CEO

Christoph von Plotho (65 yo)

10.58yrs

Tenure

€1,773,972

Compensation

Dr. Christoph von Plotho has been the Chairman of Executive Board and Chief Executive Officer of Siltronic AG since October 2010 and served as its President until 2018. Dr. von Plotho is responsible for Ap...


CEO Compensation Analysis

Compensation vs Market: Christoph's total compensation ($USD2.14M) is below average for companies of similar size in the German market ($USD3.42M).

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


Leadership Team

Experienced Management: WAF's management team is seasoned and experienced (10.5 years average tenure).


Board Members

Experienced Board: WAF's board of directors are considered experienced (4.2 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

Siltronic AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Siltronic AG
  • Ticker: WAF
  • Exchange: XTRA
  • Founded: 1953
  • Industry: Semiconductor Equipment
  • Sector: Semiconductors
  • Market Cap: €4.290b
  • Shares outstanding: 30.00m
  • Website: https://www.siltronic.com

Number of Employees


Location

  • Siltronic AG
  • Einsteinstrasse 172
  • Munich
  • Bavaria
  • 81677
  • Germany

Listings


Biography

Siltronic AG, together with its subsidiaries, manufactures and sells semiconductor silicon wafers with diameters of up to 300 mm worldwide. The company offers polished and epitaxial wafers. The company als...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/05/05 22:15
End of Day Share Price2021/05/05 00:00
Earnings2020/12/31
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.