XTRA:V6C

Stock Analysis Report

Executive Summary

Viscom AG develops, manufactures, and sells automated inspection systems in Europe, the Americas, Asia, and internationally.


Snowflake Analysis

Excellent balance sheet and good value.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: V6C's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

6.9%

V6C

4.2%

DE Electronic

7.1%

DE Market


1 Year Return

-58.8%

V6C

-26.4%

DE Electronic

-17.5%

DE Market

Return vs Industry: V6C underperformed the German Electronic industry which returned -26.4% over the past year.

Return vs Market: V6C underperformed the German Market which returned -17.5% over the past year.


Shareholder returns

V6CIndustryMarket
7 Day6.9%4.2%7.1%
30 Day-22.3%-23.5%-20.0%
90 Day-31.9%-23.7%-26.1%
1 Year-57.5%-58.8%-24.9%-26.4%-15.0%-17.5%
3 Year-56.7%-60.0%-2.4%-5.6%-18.8%-25.8%
5 Year-55.9%-62.9%55.0%43.6%-17.9%-29.2%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

27.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: V6C (€6.2) is trading below our estimate of fair value (€8.48)

Significantly Below Fair Value: V6C is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: V6C is poor value based on its PE Ratio (17x) compared to the Electronic industry average (15.8x).

PE vs Market: V6C is poor value based on its PE Ratio (17x) compared to the German market (16.5x).


Price to Earnings Growth Ratio

PEG Ratio: V6C is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: V6C is good value based on its PB Ratio (1x) compared to the DE Electronic industry average (1.1x).


Next Steps

Future Growth

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

24.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: V6C's forecast earnings growth (24.6% per year) is above the savings rate (-0.4%).

Earnings vs Market: V6C's earnings (24.6% per year) are forecast to grow faster than the German market (14.2% per year).

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

Revenue vs Market: V6C's revenue (9.7% per year) is forecast to grow faster than the German market (4.2% per year).

High Growth Revenue: V6C's revenue (9.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: V6C's Return on Equity is forecast to be low in 3 years time (8.2%).


Next Steps

Past Performance

How has Viscom performed over the past 5 years?

6.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: V6C has high quality earnings.

Growing Profit Margin: V6C's current net profit margins (3.6%) are lower than last year (8.2%).


Past Earnings Growth Analysis

Earnings Trend: V6C's earnings have grown by 6.3% per year over the past 5 years.

Accelerating Growth: V6C's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: V6C had negative earnings growth (-55.8%) over the past year, making it difficult to compare to the Electronic industry average (-7.4%).


Return on Equity

High ROE: V6C's Return on Equity (5.8%) is considered low.


Next Steps

  • Explore strong past performing companies in the Tech industry.

Financial Health

How is Viscom's financial position?


Financial Position Analysis

Short Term Liabilities: V6C's short term assets (€64.0M) exceed its short term liabilities (€19.6M).

Long Term Liabilities: V6C's short term assets (€64.0M) exceed its long term liabilities (€14.0M).


Debt to Equity History and Analysis

Debt Level: V6C's debt to equity ratio (13.5%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if V6C's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: V6C's debt is well covered by operating cash flow (110.9%).

Interest Coverage: V6C earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: V6C has a high level of physical assets or inventory.

Debt Coverage by Assets: V6C's debt is covered by short term assets (assets are 8.4x debt).


Next Steps

Dividend

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

7.26%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: V6C's dividend (7.26%) is higher than the bottom 25% of dividend payers in the German market (1.71%).

High Dividend: V6C's dividend (7.26%) is in the top 25% of dividend payers in the German market (4.98%)


Stability and Growth of Payments

Stable Dividend: V6C has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: V6C has only been paying a dividend for 8 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (123.6%), V6C's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: V6C's dividends in 3 years are forecast to be well covered by earnings (46.5% payout ratio).


Next Steps

Management

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

1.8yrs

Average management tenure


CEO

Viscom has no CEO, or we have no data on them.


Leadership Team

NamePositionTenureCompensationOwnership
Volker Pape
Co-Founder & Deputy Chairman of the Supervisory Board1.83yrs€413.96k2.87% 1.6m
Dirk Schwingel
CFO & Member of Management Boardno data€543.00k0.073% 40.3k
Martin Heuser
Chief Development Officer & Member of Management Board19.17yrs€546.00k2.99% 1.6m
Peter Krippner
Head of Operations1.75yrs€439.00k0.034% 18.6k
Carsten Salewski
Head of Sales1.75yrs€435.00k0.080% 44.3k
Jasmin Vennekoh
Investor Relations Executiveno datano datano data

1.8yrs

Average Tenure

56yo

Average Age

Experienced Management: V6C's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Volker Pape
Co-Founder & Deputy Chairman of the Supervisory Board1.83yrs€413.96k2.87% 1.6m
Ludger Overmeyer
Member of Supervisory Board5.83yrs€19.00k0.017% 9.3k
Michèle Morner
Chairwoman of the Supervisory Board1.83yrs€13.50kno data

1.8yrs

Average Tenure

Experienced Board: V6C's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.


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

Viscom AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Viscom AG
  • Ticker: V6C
  • Exchange: XTRA
  • Founded: 1984
  • Industry: Electronic Equipment and Instruments
  • Sector: Tech
  • Market Cap: €55.087m
  • Shares outstanding: 8.89m
  • Website: https://www.viscom.com

Number of Employees


Location

  • Viscom AG
  • Carl-Buderus-Strasse 9 –15
  • Hanover
  • Lower Saxony
  • 30455
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
V6CDB (Deutsche Boerse AG)YesBearer SharesDEEURMay 2006
V6CXTRA (XETRA Trading Platform)YesBearer SharesDEEURMay 2006
0GEDLSE (London Stock Exchange)YesBearer SharesGBEURMay 2006
V6CdBATS-CHIXE (BATS 'Chi-X Europe')YesBearer SharesGBEURMay 2006
V6CETLX (Eurotlx)YesBearer SharesITEURMay 2006

Biography

Viscom AG develops, manufactures, and sells automated inspection systems in Europe, the Americas, Asia, and internationally. Its products include solder joint inspection, solder paste inspection, SMD assembly, conformal coating inspection, wire bond inspection, manual X-ray/CT, and other inspection systems. The company also offers software products, such as Industry 4.0; TrueYield, a toolbox for zero defect strategy; S3088 SPI system for process control for quality; vVision for inspection system handling; EasyPro3D for program creation; S6002, a verification station that allows defect images and features to be displayed; SPC software for statistical evaluations; and PST34 for creation and maintenance of inspection schedules. In addition, it provides upgrades, as well as application support, training, and maintenance services. Its inspection solutions are used in various industries, such as automotive electronics, aerospace technology, and industrial electronics or medical technology. The company was founded in 1984 and is headquartered in Hanover, Germany. Viscom AG is a subsidiary of HPC Vermögensverwaltung GmbH. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/29 21:43
End of Day Share Price2020/03/27 00:00
Earnings2019/09/30
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.