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KPS

DB:KSC
Snowflake Description

High growth potential with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KSC
DB
€257M
Market Cap
  1. Home
  2. DE
  3. Software
Company description

KPS AG provides management consulting services in the areas of business transformation and process optimization in retail and consumer goods sectors in Europe. The last earnings update was 33 days ago. More info.


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KSC Share Price and Events
7 Day Returns
2.1%
DB:KSC
-0.5%
DE IT
0.3%
DE Market
1 Year Returns
-3.4%
DB:KSC
2.1%
DE IT
-11.7%
DE Market
KSC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
KPS (KSC) 2.1% -0.9% -18.4% -3.4% -17.6% 6.6%
DE IT -0.5% 2.5% 30.1% 2.1% 176.6% 263.2%
DE Market 0.3% -2.3% -1.1% -11.7% 12.2% 6.1%
1 Year Return vs Industry and Market
  • KSC underperformed the IT industry which returned 2.1% over the past year.
  • KSC outperformed the Market in Germany which returned -11.7% over the past year.
Price Volatility
KSC
Industry
5yr Volatility vs Market
Related Companies

Value

 Is KPS undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of KPS to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for KPS.

DB:KSC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.4%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:KSC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
IT Unlevered Beta Simply Wall St/ S&P Global 1.01
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.011 (1 + (1- 30%) (6.68%))
1.039
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.04
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.039 * 5.96%)
6.42%

Discounted Cash Flow Calculation for DB:KSC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for KPS is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:KSC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.42%)
2019 13.40 Analyst x1 12.59
2020 16.14 Analyst x4 14.25
2021 19.90 Analyst x4 16.51
2022 20.17 Analyst x3 15.72
2023 22.87 Analyst x3 16.75
2024 24.54 Est @ 7.32% 16.89
2025 25.81 Est @ 5.19% 16.70
2026 26.77 Est @ 3.7% 16.27
2027 27.48 Est @ 2.66% 15.69
2028 28.01 Est @ 1.93% 15.03
Present value of next 10 years cash flows €156.41
DB:KSC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €28.01 × (1 + 0.23%) ÷ (6.42% – 0.23%)
€453.26
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €453.26 ÷ (1 + 6.42%)10
€243.23
DB:KSC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €156.41 + €243.23
€399.64
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €399.64 / 37.41
€10.68
DB:KSC Discount to Share Price
Calculation Result
Value per share (EUR) From above. €10.68
Current discount Discount to share price of €6.91
= -1 x (€6.91 - €10.68) / €10.68
35.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price KPS is available for.
Intrinsic value
35%
Share price is €6.91 vs Future cash flow value of €10.68
Current Discount Checks
For KPS to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • KPS's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • KPS's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for KPS's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are KPS's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:KSC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €0.31
DB:KSC Share Price ** DB (2019-06-17) in EUR €6.91
Germany IT Industry PE Ratio Median Figure of 20 Publicly-Listed IT Companies 26.2x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.7x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of KPS.

DB:KSC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= DB:KSC Share Price ÷ EPS (both in EUR)

= 6.91 ÷ 0.31

21.99x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • KPS is good value based on earnings compared to the DE IT industry average.
  • KPS is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does KPS's expected growth come at a high price?
Raw Data
DB:KSC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 21.99x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
22.7%per year
Germany IT Industry PEG Ratio Median Figure of 13 Publicly-Listed IT Companies 1.55x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

DB:KSC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 21.99x ÷ 22.7%

0.97x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • KPS is good value based on expected growth next year.
Price based on value of assets
What value do investors place on KPS's assets?
Raw Data
DB:KSC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €1.94
DB:KSC Share Price * DB (2019-06-17) in EUR €6.91
Germany IT Industry PB Ratio Median Figure of 25 Publicly-Listed IT Companies 3.6x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.76x
DB:KSC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= DB:KSC Share Price ÷ Book Value per Share (both in EUR)

= 6.91 ÷ 1.94

3.56x

* Primary Listing of KPS.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • KPS is good value based on assets compared to the DE IT industry average.
X
Value checks
We assess KPS's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the IT industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the IT industry average (and greater than 0)? (1 check)
  5. KPS has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is KPS expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
22.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is KPS expected to grow at an attractive rate?
  • KPS's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • KPS's earnings growth is expected to exceed the Germany market average.
  • KPS's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:KSC Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:KSC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 22.7%
DB:KSC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 8%
Germany IT Industry Earnings Growth Rate Market Cap Weighted Average 24.4%
Germany IT Industry Revenue Growth Rate Market Cap Weighted Average 17.4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:KSC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:KSC Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-09-30 248 22 3
2022-09-30 231 19 4
2021-09-30 215 22 22 5
2020-09-30 196 19 18 5
2019-09-30 181 17 15 5
DB:KSC Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 178 26 12
2018-12-30 181 13
2018-09-30 175 18 10
2018-06-30 173 14
2018-03-31 171 16 15
2017-12-31 163 17
2017-09-30 165 17 20
2017-06-30 163 20
2017-03-31 162 15 20
2016-12-31 152 20
2016-09-30 146 20 19
2016-06-30 140 21

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • KPS's earnings are expected to grow significantly at over 20% yearly.
  • KPS's revenue is expected to grow by 8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:KSC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from KPS Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:KSC Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-09-30
2022-09-30
2021-09-30 0.60 0.65 0.53 4.00
2020-09-30 0.49 0.51 0.46 5.00
2019-09-30 0.40 0.42 0.39 5.00
DB:KSC Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 0.31
2018-12-30 0.33
2018-09-30 0.26
2018-06-30 0.36
2018-03-31 0.40
2017-12-31 0.45
2017-09-30 0.53
2017-06-30 0.59
2017-03-31 0.58
2016-12-31 0.55
2016-09-30 0.55
2016-06-30 0.55

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • KPS is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess KPS's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
KPS has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has KPS performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare KPS's growth in the last year to its industry (IT).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • KPS's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • KPS's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • KPS's 1-year earnings growth is negative, it can't be compared to the DE IT industry average.
Earnings and Revenue History
KPS's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from KPS Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:KSC Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 177.76 11.76 4.39
2018-12-30 181.36 12.53 4.39
2018-09-30 175.06 9.83 4.39
2018-06-30 173.39 13.57 3.45
2018-03-31 171.19 14.97 3.45
2017-12-31 163.24 16.70 3.45
2017-09-30 165.44 19.80 3.45
2017-06-30 163.00 20.44 3.42
2017-03-31 161.70 20.24 3.42
2016-12-31 152.30 19.58 3.42
2016-09-30 146.40 19.28 3.42
2016-06-30 140.08 20.63 0.88
2016-03-31 134.52 20.52 1.77
2015-12-31 128.70 19.61 2.07
2015-09-30 122.92 18.04 2.37
2015-06-30 118.06 16.61 1.68
2015-03-31 113.21 15.18 0.98
2014-12-31 112.14 15.75 0.84
2014-09-30 111.08 16.33 0.70
2014-06-30 110.46 17.56 0.66
2014-03-31 109.84 18.80 0.63
2013-12-31 103.41 17.53 0.62
2013-09-30 96.99 16.25 0.62
2013-06-30 85.80 13.49 0.60
2013-03-31 74.62 10.72 0.58
2012-12-31 68.28 9.51 0.53
2012-09-30 61.94 8.29 0.49
2012-06-30 57.79 6.61 0.49

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • KPS has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • KPS used its assets more efficiently than the DE IT industry average last year based on Return on Assets.
  • KPS's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess KPS's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the IT industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
KPS has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is KPS's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up KPS's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • KPS is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • KPS's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of KPS's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 3.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from KPS Company Filings, last reported 2 months ago.

DB:KSC Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 72.66 17.20 9.99
2018-12-30 65.08 21.20 9.08
2018-09-30 65.08 21.20 9.08
2018-06-30 60.56 31.39 6.07
2018-03-31 60.56 31.39 6.07
2017-12-31 66.19 0.00 6.67
2017-09-30 66.19 0.00 6.67
2017-06-30 68.81 0.00 9.43
2017-03-31 68.81 0.00 9.43
2016-12-31 58.39 0.00 13.48
2016-09-30 58.39 0.00 13.48
2016-06-30
2016-03-31 59.39 1.16 13.55
2015-12-31 49.76 0.00 6.49
2015-09-30 49.76 0.00 6.49
2015-06-30 49.76 0.00 6.49
2015-03-31 39.02 11.57 0.27
2014-12-31 39.02 11.57 0.27
2014-09-30 41.86 4.00 8.68
2014-06-30 41.86 4.00 8.68
2014-03-31 25.18 0.00 3.03
2013-12-31 25.18 0.00 3.03
2013-09-30 24.47 0.00 7.57
2013-06-30 24.47 0.00 7.57
2013-03-31 13.66 2.99 0.14
2012-12-31 13.66 2.99 0.14
2012-09-30 11.50 2.59 0.16
2012-06-30 11.50 2.59 0.16
  • KPS's level of debt (23.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0.2% vs 23.7% today).
  • Debt is well covered by operating cash flow (153.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 13.5x coverage).
X
Financial health checks
We assess KPS's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. KPS has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is KPS's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.07%
Current annual income from KPS dividends. Estimated to be 5.49% next year.
If you bought €2,000 of KPS shares you are expected to receive €101 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • KPS's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • KPS's dividend is above the markets top 25% of dividend payers in Germany (3.91%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:KSC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
Germany IT Industry Average Dividend Yield Market Cap Weighted Average of 12 Stocks 0.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:KSC Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-09-30
2022-09-30
2021-09-30 0.41 4.00
2020-09-30 0.37 5.00
2019-09-30 0.37 5.00
DB:KSC Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-01-29 0.350 4.793
2018-01-31 0.350 4.500
2017-04-10 0.330 2.148
2016-01-29 0.273 2.593
2015-02-02 0.255 4.338
2014-01-30 0.200 3.693
2013-01-31 0.100 3.760
2012-10-15 0.100 7.903
2012-02-01 0.082 6.781
2011-01-31 0.064 5.955

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, KPS has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but KPS only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of KPS's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.4x coverage).
X
Income/ dividend checks
We assess KPS's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can KPS afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. KPS has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of KPS's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Leonardo Musso
CEO Bio

Mr. Leonardo Musso has been Member of Executive Board at KPS AG since October 1, 2015. Mr. Musso has been Founder, Chief Executive Officer and Managing Director of KPS AG. Mr. Musso began his career at BMW AG., where, he worked in international product marketing, before moving to IBM Consulting where he shared responsibility for several international projects. He was one of the four founders of KPS Consulting in 2000 and since that time he manages operations for KPS Consulting’s subsidiaries and acts as the chief representative of the holding company. He holds economics degree at the universities of Florence, Constance and Barcelona.

CEO Compensation
  • Insufficient data for Leonardo to compare compensation growth.
  • Insufficient data for Leonardo to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team

Michael Tsifidaris

TITLE
Founder & Chairman of Supervisory Board
AGE
49

Leonardo Musso

TITLE
Founder

Steffen Sattler

TITLE
Managing Partner & VP

Josef Richter

TITLE
Managing Partner & VP

Matthias Nollenberger

TITLE
Managing Partner & VP

Michael Mirz

TITLE
Managing Partner & VP

Thomas Krämerkämper

TITLE
Managing Partner & VP

Guido Simonis

TITLE
Managing Partner - Munich

Martin Pedersen

TITLE
Head of SAP Concur Competence Center - Copenhagen
Board of Directors

Michael Tsifidaris

TITLE
Founder & Chairman of Supervisory Board
AGE
49
TENURE
11.4 yrs

Uwe Grünewald

TITLE
Vice Chairman of Supervisory Board

Hans-Werner Hartmann

TITLE
Member of the Supervisory Board
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess KPS's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. KPS has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Do Insiders Own Shares In KPS AG (FRA:KSC)?

Our analysis of the ownership of the company, below, shows that institutions are noticeable on the share registry. … See our latest analysis for KPS DB:KSC Ownership Summary, June 14th 2019 What Does The Institutional Ownership Tell Us About KPS? … It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation.

Simply Wall St -

Read This Before Buying KPS AG (FRA:KSC) For Its Dividend

As KPS's dividend was not well covered by earnings, we need to check its balance sheet for signs of financial distress. … Conclusion To summarise, shareholders should always check that KPS's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend. … Earnings per share have been falling, and the company has a relatively short dividend history - shorter than we like, anyway.

Simply Wall St -

KPS AG (FRA:KSC) Is Employing Capital Very Effectively

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for KPS: 0.19 = €19m ÷ (€140m - €39m) (Based on the trailing twelve months to March 2019.) Therefore, KPS has an ROCE of 19%. … The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise.

Simply Wall St -

If You Had Bought KPS (FRA:KSC) Stock A Year Ago, You'd Be Sitting On A 22% Loss, Today

There will continue to be wide discrepancies between price and value in the marketplace...' One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … It is important to consider the total shareholder return, as well as the share price return, for any given stock. … However, it could simply be that the share price has been impacted by broader market jitters.

Simply Wall St -

Does KPS AG (FRA:KSC) Have A Particularly Volatile Share Price?

In finance, Beta is a measure of volatility. … Volatility is considered to be a measure of risk in modern finance theory. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility).

Simply Wall St -

An Intrinsic Calculation For KPS AG (FRA:KSC) Suggests It's 30% Undervalued

Today, we will estimate the stock's intrinsic value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model. … The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period.

Simply Wall St -

What Does KPS AG's (FRA:KSC) Share Price Indicate?

As a stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … However, what if the stock is still a bargain. … Let’s examine KPS’s valuation and outlook in more detail to determine if there’s still a bargain opportunity

Simply Wall St -

Only 3 Days Left Before KPS AG (FRA:KSC) Will Be Trading Ex-Dividend

If you are interested in cashing in on KPS AG's (FRA:KSC) upcoming dividend of €0.35 per share, you only have 3 days left to buy the shares before its ex-dividend date, 01 April 2019, in time for dividends payable on the 03 April 2019. … If you are a dividend investor, you should always assess these five key metrics:? … Has its dividend been stable over the past (i.e. no missed payments or significant payout cuts)?

Simply Wall St -

Could KPS AG's (FRA:KSC) Investor Composition Influence The Stock Price?

A look at the shareholders of KPS AG (FRA:KSC) can tell us which group is most powerful. … So it's nice to see some insider ownership, because it may suggest that management is owner-oriented. … With a market capitalization of €303m, KPS is a small cap stock, so it might not be well known by many institutional investors.

Simply Wall St -

KPS AG (FRA:KSC): The Best Of Both Worlds

Attractive stocks have exceptional fundamentals. … In the case of KPS AG (FRA:KSC), there's … financial health as well as

Simply Wall St -

Company Info

Description

KPS AG provides management consulting services in the areas of business transformation and process optimization in retail and consumer goods sectors in Europe. It offers strategy, process, application, and technology consulting services in the areas of ERP, e-commerce, and CRM. The company also sells software licenses, maintenance contracts, and hardware components. KPS AG was founded in 2000 and is headquartered in Unterföhring, Germany.

Details
Name: KPS AG
KSC
Exchange: DB
Founded: 2000
€257,395,248
37,412,100
Website: http://www.kps.com
Address: KPS AG
Betastrasse 10 H,
Unterföhring,
Bavaria, 85774,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
DB KSC Ordinary Shares Deutsche Boerse AG DE EUR 14. Jul 1999
XTRA KSC Ordinary Shares XETRA Trading Platform DE EUR 14. Jul 1999
LSE 0M2T Ordinary Shares London Stock Exchange GB EUR 14. Jul 1999
BATS-CHIXE KSCd Ordinary Shares BATS 'Chi-X Europe' GB EUR 14. Jul 1999
Number of employees
Current staff
Staff numbers
605
KPS employees.
Industry
IT Consulting and Other Services
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/17 20:48
End of day share price update: 2019/06/17 00:00
Last estimates confirmation: 2019/06/11
Last earnings filing: 2019/05/15
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/09/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.