WAF1

Siltronic XTRA:WAF1 Stock Report

Last Price

€119.80

Market Cap

€2.7b

7D

0%

1Y

-14.3%

Updated

02 May, 2022

Data

Company Financials +
WAF1 fundamental analysis
Snowflake Score
Valuation4/6
Future Growth4/6
Past Performance4/6
Financial Health6/6
Dividends3/6

WAF1 Stock Overview

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

Siltronic Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Siltronic
Historical stock prices
Current Share Price€119.80
52 Week High€143.30
52 Week Low€109.80
Beta2.27
1 Month Change0%
3 Month Change-0.17%
1 Year Change-14.31%
3 Year Changen/a
5 Year Changen/a
Change since IPO-14.31%

Recent News & Updates

Shareholder Returns

WAF1DE SemiconductorDE Market
7D0%9.6%3.8%
1Y-14.3%-9.0%-12.4%

Return vs Industry: WAF1 exceeded the German Semiconductor industry which returned -16.5% over the past year.

Return vs Market: WAF1 underperformed the German Market which returned -10.4% over the past year.

Price Volatility

Is WAF1's price volatile compared to industry and market?
WAF1 volatility
WAF1 Average Weekly Movementn/a
Semiconductor Industry Average Movement7.2%
Market Average Movement6.4%
10% most volatile stocks in DE Market10.8%
10% least volatile stocks in DE Market3.5%

Stable Share Price: Insufficient data to determine WAF1's volatility over the past 3 months.

Volatility Over Time: Insufficient data to determine WAF1's volatility change over the past year.

About the Company

FoundedEmployeesCEOWebsite
19533,902Christoph von Plothohttps://www.siltronic.com

Siltronic AG, together with its subsidiaries, manufactures and sells hyperpure semiconductor silicon wafers with diameters of up to 300 mm worldwide. It offers polished and epitaxial wafers. The company also provides special products, such as Ultimate Silicon, an optimal crystal for polished wafers; PowerFZ, a wafer product based on the float zone method; and HIREF, a high reflective non-polished wafer product.

Siltronic Fundamentals Summary

How do Siltronic's earnings and revenue compare to its market cap?
WAF1 fundamental statistics
Market Cap€2.69b
Earnings (TTM)€253.30m
Revenue (TTM)€1.41b

10.6x

P/E Ratio

1.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
WAF1 income statement (TTM)
Revenue€1.41b
Cost of Revenue€964.20m
Gross Profit€441.20m
Other Expenses€187.90m
Earnings€253.30m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

May 10, 2022

Earnings per share (EPS)8.44
Gross Margin31.39%
Net Profit Margin18.02%
Debt/Equity Ratio0%

How did WAF1 perform over the long term?

See historical performance and comparison

Dividends

3.3%

Current Dividend Yield

36%

Payout Ratio

Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


10.62x

Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: WAF1 (€119.8) is trading above our estimate of fair value (€97.36)

Significantly Below Fair Value: WAF1 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: WAF1 is good value based on its PE Ratio (10.6x) compared to the German Semiconductor industry average (22x).

PE vs Market: WAF1 is good value based on its PE Ratio (10.6x) compared to the German market (18.8x).


Price to Earnings Growth Ratio

PEG Ratio: WAF1 is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: WAF1 is good value based on its PB Ratio (2.3x) compared to the DE Semiconductor industry average (2.8x).


Future Growth

How is Siltronic forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


12.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: WAF1's forecast earnings growth (12.1% per year) is above the savings rate (-0.05%).

Earnings vs Market: WAF1's earnings (12.1% per year) are forecast to grow faster than the German market (9% per year).

High Growth Earnings: WAF1's earnings are forecast to grow, but not significantly.

Revenue vs Market: WAF1's revenue (9.4% per year) is forecast to grow faster than the German market (5.4% per year).

High Growth Revenue: WAF1's revenue (9.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: WAF1's Return on Equity is forecast to be high in 3 years time (20.3%)


Past Performance

How has Siltronic performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


7.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: WAF1 has a high level of non-cash earnings.

Growing Profit Margin: WAF1's current net profit margins (18%) are higher than last year (13.3%).


Past Earnings Growth Analysis

Earnings Trend: WAF1's earnings have grown by 7.5% per year over the past 5 years.

Accelerating Growth: WAF1's earnings growth over the past year (57.5%) exceeds its 5-year average (7.5% per year).

Earnings vs Industry: WAF1 earnings growth over the past year (57.5%) underperformed the Semiconductor industry 115.9%.


Return on Equity

High ROE: WAF1's Return on Equity (22%) is considered high.


Financial Health

How is Siltronic's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: WAF1's short term assets (€994.6M) exceed its short term liabilities (€307.4M).

Long Term Liabilities: WAF1's short term assets (€994.6M) exceed its long term liabilities (€829.2M).


Debt to Equity History and Analysis

Debt Level: WAF1 is debt free.

Reducing Debt: WAF1 has no debt compared to 5 years ago when its debt to equity ratio was 9.5%.

Debt Coverage: WAF1 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: WAF1 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?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


3.34%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: WAF1's dividend (3.34%) is higher than the bottom 25% of dividend payers in the German market (1.31%).

High Dividend: WAF1's dividend (3.34%) is low compared to the top 25% of dividend payers in the German market (4.08%).


Stability and Growth of Payments

Stable Dividend: WAF1 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: WAF1's dividend payments have increased, but the company has only paid a dividend for 4 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (35.5%), WAF1's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: At its current cash payout ratio (83%), WAF1's dividend payments are covered by cash flows.


Next Steps

Management

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

11.5yrs

Average management tenure


CEO

Christoph von Plotho (66 yo)

11.58yrs

Tenure

€1,710,372

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 ($USD1.80M) is about average for companies of similar size in the German market ($USD2.09M).

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


Leadership Team

Experienced Management: WAF1's management team is seasoned and experienced (11.5 years average tenure).


Board Members

Experienced Board: WAF1's board of directors are considered experienced (4.1 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 employee growth, exchange listings and data sources


Key Information

  • Name: Siltronic AG
  • Ticker: WAF1
  • Exchange: XTRA
  • Founded: 1953
  • Industry: Semiconductor Equipment
  • Sector: Semiconductors
  • Implied Market Cap: €2.691b
  • Shares outstanding: 30.00m
  • Website: https://www.siltronic.com

Number of Employees


Location

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

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/02 00:00
End of Day Share Price2022/02/02 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


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.