company background image
BC8

BechtleXTRA:BC8 Stock Report

Market Cap

€7.5b

7D

7.0%

1Y

4.8%

Updated

19 Oct, 2021

Data

Company Financials +
BC8 fundamental analysis
Snowflake Score
Valuation1/6
Future Growth2/6
Past Performance4/6
Financial Health5/6
Dividends4/6

BC8 Overview

Bechtle AG provides information technology services primarily in Europe.

Bechtle Competitors

Cancom

XTRA:COK

€2.2b

GFT Technologies

XTRA:GFT

€845.1m

DATAGROUP

XTRA:D6H

€662.4m

Allgeier

XTRA:AEIN

€280.6m

Price History & Performance

Summary of all time highs, changes and price drops for Bechtle
Historical stock prices
Current Share Price€59.50
52 Week High€47.87
52 Week Low€67.88
Beta0.99
1 Month Change-7.90%
3 Month Change8.15%
1 Year Change4.75%
3 Year Change128.85%
5 Year Change264.58%
Change since IPO1,078.22%

Recent News & Updates

Sep 13
Should You Be Adding Bechtle (ETR:BC8) To Your Watchlist Today?

Should You Be Adding Bechtle (ETR:BC8) To Your Watchlist Today?

Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of falling...

Aug 16
Are Investors Undervaluing Bechtle AG (ETR:BC8) By 50%?

Are Investors Undervaluing Bechtle AG (ETR:BC8) By 50%?

Does the August share price for Bechtle AG ( ETR:BC8 ) reflect what it's really worth? Today, we will estimate the...

Shareholder Returns

BC8DE ITDE Market
7D7.0%7.0%2.2%
1Y4.8%25.2%22.7%

Return vs Industry: BC8 underperformed the German IT industry which returned 22% over the past year.

Return vs Market: BC8 underperformed the German Market which returned 21.4% over the past year.

Price Volatility

Is BC8's price volatile compared to industry and market?
BC8 volatility
BC8 Beta0.99
Industry Beta1.18
Market Beta1

Stable Share Price: BC8 is not significantly more volatile than the rest of German stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: BC8's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
198312,421Klaus Winklerhttps://www.bechtle.com

Bechtle AG provides information technology services primarily in Europe. The company operates in two segments, IT System House & Managed Services, and IT E-Commerce. The IT System House & Managed Services segment offers IT strategy consulting, hardware and software selling, project planning and implementation, system integration, IT services, and training for IT operation.

Bechtle Fundamentals Summary

How do Bechtle's earnings and revenue compare to its market cap?
BC8 fundamental statistics
Market Cap€7.50b
Earnings (TTM)€216.34m
Revenue (TTM)€6.10b

34.7x

P/E Ratio

1.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BC8 income statement (TTM)
Revenue€6.10b
Cost of Revenue€5.20b
Gross Profit€894.03m
Expenses€677.70m
Earnings€216.34m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Nov 11, 2021

Earnings per share (EPS)1.72
Gross Margin14.67%
Net Profit Margin3.55%
Debt/Equity Ratio29.3%

How did BC8 perform over the long term?

See historical performance and comparison

Dividends

0.8%

Current Dividend Yield

26%

Payout Ratio

Valuation

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

34.65x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BC8 (€59.5) is trading above our estimate of fair value (€45.1)

Significantly Below Fair Value: BC8 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BC8 is good value based on its PE Ratio (34.7x) compared to the German IT industry average (35.8x).

PE vs Market: BC8 is poor value based on its PE Ratio (34.7x) compared to the German market (22.6x).


Price to Earnings Growth Ratio

PEG Ratio: BC8 is poor value based on its PEG Ratio (4x)


Price to Book Ratio

PB vs Industry: BC8 is overvalued based on its PB Ratio (6.2x) compared to the DE IT industry average (3.8x).


Future Growth

How is Bechtle forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

8.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BC8's forecast earnings growth (8.7% per year) is above the savings rate (-0.01%).

Earnings vs Market: BC8's earnings (8.7% per year) are forecast to grow slower than the German market (12.8% per year).

High Growth Earnings: BC8's earnings are forecast to grow, but not significantly.

Revenue vs Market: BC8's revenue (8.3% per year) is forecast to grow faster than the German market (5.9% per year).

High Growth Revenue: BC8's revenue (8.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BC8's Return on Equity is forecast to be low in 3 years time (17.7%).


Past Performance

How has Bechtle performed over the past 5 years?

16.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BC8 has high quality earnings.

Growing Profit Margin: BC8's current net profit margins (3.5%) are higher than last year (3.2%).


Past Earnings Growth Analysis

Earnings Trend: BC8's earnings have grown by 16.1% per year over the past 5 years.

Accelerating Growth: BC8's earnings growth over the past year (22.3%) exceeds its 5-year average (16.1% per year).

Earnings vs Industry: BC8 earnings growth over the past year (22.3%) underperformed the IT industry 35.1%.


Return on Equity

High ROE: BC8's Return on Equity (17.9%) is considered low.


Financial Health

How is Bechtle's financial position?


Financial Position Analysis

Short Term Liabilities: BC8's short term assets (€1.7B) exceed its short term liabilities (€893.7M).

Long Term Liabilities: BC8's short term assets (€1.7B) exceed its long term liabilities (€528.9M).


Debt to Equity History and Analysis

Debt Level: BC8's debt to equity ratio (29.3%) is considered satisfactory.

Reducing Debt: BC8's debt to equity ratio has increased from 9.6% to 29.3% over the past 5 years.

Debt Coverage: BC8's debt is well covered by operating cash flow (91.3%).

Interest Coverage: BC8's interest payments on its debt are well covered by EBIT (53.7x coverage).


Balance Sheet


Dividend

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

0.76%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BC8's dividend (0.76%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1%).

High Dividend: BC8's dividend (0.76%) is low compared to the top 25% of dividend payers in the German market (3.27%).


Stability and Growth of Payments

Stable Dividend: BC8's dividends per share have been stable in the past 10 years.

Growing Dividend: BC8's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (26.2%), BC8's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BC8's dividends in 3 years are forecast to be well covered by earnings (28.8% payout ratio).


Next Steps

Management

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

15.2yrs

Average management tenure


CEO

Klaus Winkler (63 yo)

no data

Tenure

€125,000

Compensation

Mr. Klaus Winkler, M.D., serves as Chairman of Supervisory Board and Chief Executive Officer at Gebr. Heller Maschinenfabrik GmbH. He has been Chairman of the Supervisory Board of Bechtle AG since June 12,...


Leadership Team

Experienced Management: BC8's management team is seasoned and experienced (15.2 years average tenure).


Board Members

Experienced Board: BC8's board of directors are considered experienced (5.3 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

Bechtle AG's employee growth, exchange listings and data sources


Key Information

  • Name: Bechtle AG
  • Ticker: BC8
  • Exchange: XTRA
  • Founded: 1983
  • Industry: IT Consulting and Other Services
  • Sector: Software
  • Market Cap: €7.497b
  • Shares outstanding: 126.00m
  • Website: https://www.bechtle.com

Number of Employees


Location

  • Bechtle AG
  • Bechtle Platz 1
  • Neckarsulm
  • Baden-Württemberg
  • 74172
  • Germany

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/19 21:40
End of Day Share Price2021/10/19 00:00
Earnings2021/06/30
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.