XTRA:BSL

Stock Analysis Report

Executive Summary

Basler Aktiengesellschaft develops, manufactures, and sells digital cameras for professional users in Europe, the United States, and Asia.

Snowflake

Fundamentals

Flawless balance sheet with reasonable growth potential.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-1.9%

BSL

3.5%

DE Electronic

2.8%

DE Market


1 Year Return

-12.7%

BSL

-7.0%

DE Electronic

2.9%

DE Market

Return vs Industry: BSL underperformed the German Electronic industry which returned -7% over the past year.

Return vs Market: BSL underperformed the German Market which returned 2.9% over the past year.


Share holder returns

BSLIndustryMarket
7 Day-1.9%3.5%2.8%
30 Day4.5%-0.2%-0.2%
90 Day-0.6%-1.5%0.9%
1 Year-11.8%-12.7%-6.2%-7.0%6.2%2.9%
3 Year115.7%109.8%42.8%39.5%18.2%8.0%
5 Year255.5%237.5%128.6%116.9%43.1%23.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

56.19x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Undervalued: BSL (€41.9) is trading above our estimate of fair value (€22.24)

Significantly Undervalued: BSL is trading above our estimate of fair value.


Price Based on Earnings

PE vs Industry: BSL is poor value based on its PE Ratio (56.2x) compared to the Electronic industry average (19.3x).

PE vs Market: BSL is poor value based on its PE Ratio (56.2x) compared to the German market (19.7x).


Price Based on Expected Growth

Low PEG Ratio: BSL is poor value based on its PEG Ratio (1.8x)


Price Based on Value of Assets

PB vs Industry: BSL is overvalued based on its PB Ratio (4.4x) compared to the DE Electronic industry average (2x).


Next Steps

Future Growth

How is Basler expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

31.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Earnings vs Savings Rate: BSL's forecast earnings growth (31.2% per year) is above the savings rate (0.2%).

Earnings vs Market: BSL's earnings (31.2% per year) are forecast to grow faster than the German market (12.8% per year).

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

Revenue vs Market: BSL's revenue (11.3% per year) is forecast to grow faster than the German market (5% per year).

High Growth Revenue: BSL's revenue (11.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Estimates


Future Return on Equity

High Future ROE: BSL's Return on Equity is forecast to be low in 3 years time (14.6%).


Next Steps

Past Performance

How has Basler performed over the past 5 years?

19.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: BSL's earnings have grown by 19.9% per year over the past 5 years.

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

Earnings vs Industry: BSL had negative earnings growth (-68.8%) over the past year, making it difficult to compare to the Electronic industry average (9.9%).


Return on Equity

High ROE: BSL's Return on Equity (7.5%) is considered low.


Return on Assets

ROA vs Industry: BSL's Return on Assets is below or equal to the Electronic industry average last year.


Return on Capital Employed

ROCE Improving: BSL's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Basler's financial position?


Financial Position Analysis

Short Term Liabilities: BSL's short term assets (€82.8M) exceeds its short term liabilities (€31.4M)

Long Term Liabilities: BSL's short term assets (82.8M) exceeds its long term liabilities (45.1M)


Debt to Equity History and Analysis

Debt Level: BSL's debt to equity ratio (21.8%) is considered satisfactory

Reducing Debt: BSL's debt to equity ratio has reduced from 27.2% to 21.8% over the past 5 years.

Debt Coverage: BSL's debt is well covered by operating cash flow (105.7%).

Interest Coverage: BSL's interest payments on its debt are well covered by EBIT (27.7x coverage).


Balance Sheet

Inventory Level: BSL has a high level of physical assets or inventory.

Debt Coverage by Assets: BSL's debt is covered by short term assets (assets are 3.956570x debt).


Next Steps

Dividend

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

1.18%

Expected Dividend Yield


Dividend Yield vs Market

company1.3%marketbottom25%1.5%markettop25%3.9%industryaverage1.6%forecastin3Years1.2%

Current dividend yield vs market & industry


Dividend Yield and Payments Analysis

Notable Dividend: BSL's dividend (1.26%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.46%).

High Dividend: BSL's dividend (1.26%) is low compared to the top 25% of dividend payers in the German market (3.86%).

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

Growing Dividend: BSL's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (71.1%), BSL's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BSL's dividends in 3 years are forecast to be well covered by earnings (30.9% payout ratio).


Next Steps

Management

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

12.8yrs

Average management tenure


CEO

Dietmar Ley (55yo)

19.7yrs

Tenure

€560,000

Compensation

Dr. Ing. Dietmar Ley has been the Chief Executive Officer of Basler Aktiengesellschaft since February 2000 and serves as its Chairman of the Management Board. Dr. Ing. Ley served as Chairman of Management  ...


CEO Compensation Analysis

Compensation vs. Market: Dietmar's total compensation ($USD618.78K) is about average for companies of similar size in the German market ($USD819.34K).

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


Management Age and Tenure

12.8yrs

Average Tenure

55yo

Average Age

Experienced Management: BSL's management team is seasoned and experienced (12.8 years average tenure).


Board Age and Tenure

2.5yrs

Average Tenure

56yo

Average Age

Experienced Board: BSL's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Dietmar Ley (55yo)

    Chairman of the Management Board & CEO

    • Tenure: 19.7yrs
    • Compensation: €560.00k
  • Norbert Basler (56yo)

    Founder & Chairman of the Supervisory Board

    • Tenure: 16.8yrs
  • John Jennings (55yo)

    Chief Commercial Officer & Member of Management Board

    • Tenure: 14.8yrs
    • Compensation: €531.00k
  • Arndt Bake (52yo)

    Chief Marketing Officer & Member of Management Board

    • Tenure: 8.8yrs
    • Compensation: €388.00k
  • Hardy Mehl (43yo)

    CFO, COO & Member of Management Board

    • Tenure: 0yrs
    • Compensation: €445.00k
  • Anke Wubbelmann

    Head of Communications

    • Tenure: 10.8yrs
  • Carsten Ohrt

    Head of Manufacturing

    • Tenure: 0yrs
  • Anja Sievers-Sack

    Head of Vocational Education & HR Marketing

    • Tenure: 0yrs
  • Sabine Knuppel

    Director of Human Resources & Organization

    • Tenure: 0yrs
  • Andy Rowe

    Head of Finance - UK

    • Tenure: 0yrs

Board Members

  • Eckart Kottkamp (79yo)

    Vice Chairman of the Supervisory Board

    • Tenure: 0yrs
  • Norbert Basler (56yo)

    Founder & Chairman of the Supervisory Board

    • Tenure: 16.8yrs
  • Dorothea Brandes

    Employees Representative Supervisory Board

    • Tenure: 1.4yrs
  • Horst Garbrecht

    Member of Supervisory Board

    • Tenure: 4.4yrs
  • Mirja Steinkamp (49yo)

    Member of Supervisory Board

    • Tenure: 2.5yrs
  • Marco Grimm

    Member of the Supervisory Board

    • Tenure: 1.4yrs

Company Information

Basler Aktiengesellschaft's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Basler Aktiengesellschaft
  • Ticker: BSL
  • Exchange: XTRA
  • Founded: 1988
  • Industry: Electronic Equipment and Instruments
  • Sector: Tech
  • Market Cap: €419.325m
  • Shares outstanding: 10.01m
  • Website: https://www.baslerweb.com

Number of Employees


Location

  • Basler Aktiengesellschaft
  • An der Strusbek 60-62
  • Ahrensburg
  • Schleswig-Holstein
  • 22926
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BSLDB (Deutsche Boerse AG)YesBearer SharesDEEURMar 1999
BSLXTRA (XETRA Trading Platform)YesBearer SharesDEEURMar 1999
0DUILSE (London Stock Exchange)YesBearer SharesGBEURMar 1999
BSLA.FOTCPK (Pink Sheets LLC)YesBearer SharesUSUSDMar 1999
BSLSWX (SIX Swiss Exchange)YesBearer SharesCHCHFMar 1999
BSLdBATS-CHIXE (BATS 'Chi-X Europe')YesBearer SharesGBEURMar 1999

Biography

Basler Aktiengesellschaft develops, manufactures, and sells digital cameras for professional users in Europe, the United States, and Asia. The company offers area scan, line scan, powerpack microscopy, 3D  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/13 21:36
End of Day Share Price2019/10/11 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.

© 2018 SIMPLY WALL STREET PTY LTD, COMMUNITY DESIGN 2845206, US DESIGN PATENT #29/544/281, EUROPEAN DESIGN REGISTRATION #2845206, STANDARD & POOR’S FINANCIAL SERVICES LLC. ALL RIGHTS RESERVED.

Simply Wall Street Pty Ltd (ACN 600 056 611), is a Corporate Authorised Representative (Authorised Representative Number: 467183) of Sanlam Private Wealth Pty Ltd (AFSL No. 337927). Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice. Please read our Financial Services Guide before deciding whether to obtain financial services from us.

Copyright © 2018, Standard & Poor’s Financial Services LLC. Reproduction of S&P Capital IQ in any form is prohibited except with the prior written permission of S&P. S&P does not guarantee the accuracy, adequacy, completeness or availability of any information and is not responsible for any errors or omissions, regardless of the cause or for the results obtained from the use of such information. S&P DISCLAIMS ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. In no event shall S&P be liable for any direct, indirect, special or consequential damages, costs, expenses, legal fees, or losses (including lost income or lost profit and opportunity costs) in connection with subscriber’s or others’ use of S&P Capital IQ. (2018)