S&T (DB:SANT) - Share price, News & Analysis

SANT fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	3/6
Past Performance	1/6
Financial Health	5/6
Dividends	3/6

SANT Stock Overview

S&T AG engages in the development, implementation, and marketing of hardware and software solutions, and IT services.

Rewards

Trading at 45.1% below our estimate of its fair value

Earnings are forecast to grow 18.44% per year

Risk Analysis

Unstable dividend track record

Large one-off items impacting financial results

Price History & Performance

Summary of all time highs, changes and price drops for S&T
Historical stock prices
Current Share Price	€16.08
52 Week High	€23.90
52 Week Low	€11.31
Beta	1.45
1 Month Change	-10.27%
3 Month Change	-3.37%
1 Year Change	-24.72%
3 Year Change	-30.81%
5 Year Change	27.01%
Change since IPO	-54.06%

Shareholder Returns

	SANT	DE IT	DE Market
7D	-0.1%	-1.8%	1.1%
1Y	-24.7%	-0.1%	-9.8%

Return vs Industry: SANT underperformed the German IT industry which returned -0.1% over the past year.

Return vs Market: SANT underperformed the German Market which returned -9.8% over the past year.

Price Volatility

Is SANT's price volatile compared to industry and market?
SANT volatility
SANT Average Weekly Movement	8.0%
IT Industry Average Movement	6.6%
Market Average Movement	6.3%
10% most volatile stocks in DE Market	10.4%
10% least volatile stocks in DE Market	3.4%

Stable Share Price: SANT is not significantly more volatile than the rest of German stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: SANT's weekly volatility (8%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1990	6,206	Hannes Niederhauser	https://www.snt.at

S&T AG engages in the development, implementation, and marketing of hardware and software solutions, and IT services. It operates through three segments: IT Services, IoT Solutions Europe, and IoT Solutions America. The company offers consulting, integration, and outsourcing services in the areas of workplace, data centers, cloud, and application support and development; and consults and sells third-party hardware and software products.

S&T Fundamentals Summary

How do S&T's earnings and revenue compare to its market cap?
SANT fundamental statistics
Market Cap	€1.04b
Earnings (TTM)	€48.26m
Revenue (TTM)	€1.36b

21.5x

P/E Ratio

0.8x

P/S Ratio

Is SANT overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
SANT income statement (TTM)
Revenue	€1.36b
Cost of Revenue	€851.73m
Gross Profit	€511.68m
Other Expenses	€463.42m
Earnings	€48.26m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

Aug 04, 2022

Earnings per share (EPS)	0.76
Gross Margin	37.53%
Net Profit Margin	3.54%
Debt/Equity Ratio	75.4%

How did SANT perform over the long term?

See historical performance and comparison

Dividends

2.1%

Current Dividend Yield

46%

Payout Ratio

Does SANT pay a reliable dividends?

See SANT dividend history and benchmarks

When do you need to buy SANT by to receive an upcoming dividend?
S&T dividend dates
Ex Dividend Date	May 09 2022
Dividend Pay Date	May 11 2022
Days until Ex dividend	4 days
Days until Dividend pay date	6 days

Does SANT pay a reliable dividends?

See SANT dividend history and benchmarks

Valuation

Is S&T 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

45.1%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: SANT (€16.08) is trading below our estimate of fair value (€29.3)

Significantly Below Fair Value: SANT is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: SANT is good value based on its PE Ratio (21.5x) compared to the German IT industry average (27.4x).

PE vs Market: SANT is poor value based on its PE Ratio (21.5x) compared to the German market (18.5x).

Price to Earnings Growth Ratio

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

Price to Book Ratio

PB vs Industry: SANT is good value based on its PB Ratio (2.5x) compared to the DE IT industry average (3.1x).

Future Growth

How is S&T forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

18.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: SANT's forecast earnings growth (18.4% per year) is above the savings rate (-0.05%).

Earnings vs Market: SANT's earnings (18.4% per year) are forecast to grow faster than the German market (9% per year).

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

Revenue vs Market: SANT's revenue (8.8% per year) is forecast to grow faster than the German market (5.4% per year).

High Growth Revenue: SANT'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: SANT's Return on Equity is forecast to be low in 3 years time (16.1%).

Past Performance

How has S&T performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

22.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SANT has a large one-off gain of €9.6M impacting its December 31 2021 financial results.

Growing Profit Margin: SANT's current net profit margins (3.5%) are lower than last year (4.4%).

Past Earnings Growth Analysis

Earnings Trend: SANT's earnings have grown significantly by 22.8% per year over the past 5 years.

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

Earnings vs Industry: SANT had negative earnings growth (-13.2%) over the past year, making it difficult to compare to the IT industry average (43.8%).

Return on Equity

High ROE: SANT's Return on Equity (11.6%) is considered low.

Financial Health

How is S&T's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: SANT's short term assets (€833.2M) exceed its short term liabilities (€580.7M).

Long Term Liabilities: SANT's short term assets (€833.2M) exceed its long term liabilities (€348.2M).

Debt to Equity History and Analysis

Debt Level: SANT's net debt to equity ratio (2.9%) is considered satisfactory.

Reducing Debt: SANT's debt to equity ratio has increased from 38.5% to 75.4% over the past 5 years.

Debt Coverage: SANT's debt is well covered by operating cash flow (29.8%).

Interest Coverage: SANT's interest payments on its debt are well covered by EBIT (6x coverage).

Balance Sheet

Dividend

What is S&T 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

2.15%

Current Dividend Yield

Upcoming Dividend Payment

Dividend Yield vs Market

Notable Dividend: SANT's dividend (2.15%) is higher than the bottom 25% of dividend payers in the German market (1.31%).

High Dividend: SANT's dividend (2.15%) is low compared to the top 25% of dividend payers in the German market (4.12%).

Stability and Growth of Payments

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

Growing Dividend: SANT's dividend payments have increased, but the company has only paid a dividend for 8 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (46.4%), SANT's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (46.1%), SANT's dividend payments are well covered by cash flows.

Next Steps

Explore strong dividend paying companies in the Software industry.

Management

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

11.3yrs

Average management tenure

CEO

Hannes Niederhauser (59 yo)

11.33yrs

Tenure

€19,000

Compensation

Mr. Hannes Niederhauser Dipl. Ing. is Member of the Supervisory Board at KATEK SE since April 01, 2021. He joined Infineon AG in Munich as a chip developer from 1987 up to 1989.From May 1989 through Janua...

CEO Compensation Analysis

Compensation vs Market: Hannes's total compensation ($USD20.07K) is below average for companies of similar size in the German market ($USD1.10M).

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

Leadership Team

Experienced Management: SANT's management team is seasoned and experienced (11.3 years average tenure).

Board Members

Experienced Board: SANT's board of directors are considered experienced (4.9 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.

Data	Last Updated (UTC time)
Company Analysis	2022/05/04 00:00
End of Day Share Price	2022/05/04 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31