ALSO Holding AG operates as a service provider for the ICT industry.
Fair value with moderate growth potential.
Share Price & News
How has ALSO Holding's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 9AS has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: 9AS exceeded the German Electronic industry which returned 9.5% over the past year.
Return vs Market: 9AS underperformed the German Market which returned 17.1% over the past year.
Price Volatility Vs. Market
How volatile is ALSO Holding's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is ALSO Holding undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: 9AS (€124.6) is trading below our estimate of fair value (€126.34)
Significantly Below Fair Value: 9AS is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: 9AS is good value based on its PE Ratio (19.2x) compared to the Electronic industry average (27.1x).
PE vs Market: 9AS is good value based on its PE Ratio (19.2x) compared to the German market (20.6x).
Price to Earnings Growth Ratio
PEG Ratio: 9AS is poor value based on its PEG Ratio (1.4x)
Price to Book Ratio
PB vs Industry: 9AS is overvalued based on its PB Ratio (2.5x) compared to the DE Electronic industry average (1.8x).
How is ALSO Holding forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 9AS's forecast earnings growth (13.7% per year) is above the savings rate (0.2%).
Earnings vs Market: 9AS's earnings (13.7% per year) are forecast to grow faster than the German market (13.2% per year).
High Growth Earnings: 9AS's earnings are forecast to grow, but not significantly.
Revenue vs Market: 9AS's revenue (5.5% per year) is forecast to grow faster than the German market (4.8% per year).
High Growth Revenue: 9AS's revenue (5.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 9AS's Return on Equity is forecast to be low in 3 years time (15.2%).
How has ALSO Holding performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 9AS has high quality earnings.
Growing Profit Margin: 9AS's current net profit margins (0.9%) are lower than last year (0.9%).
Past Earnings Growth Analysis
Earnings Trend: 9AS's earnings have grown by 9.8% per year over the past 5 years.
Accelerating Growth: 9AS's earnings growth over the past year (6.4%) is below its 5-year average (9.8% per year).
Earnings vs Industry: 9AS earnings growth over the past year (6.4%) exceeded the Electronic industry 3.1%.
Return on Equity
High ROE: 9AS's Return on Equity (13.3%) is considered low.
How is ALSO Holding's financial position?
Financial Position Analysis
Short Term Liabilities: 9AS's short term assets (€1.8B) exceed its short term liabilities (€1.0B).
Long Term Liabilities: 9AS's short term assets (€1.8B) exceed its long term liabilities (€466.0M).
Debt to Equity History and Analysis
Debt Level: 9AS's debt to equity ratio (77.8%) is considered high.
Reducing Debt: 9AS's debt to equity ratio has increased from 53.3% to 77.8% over the past 5 years.
Debt Coverage: 9AS's debt is not well covered by operating cash flow (14.2%).
Interest Coverage: 9AS's interest payments on its debt are well covered by EBIT (8.7x coverage).
Inventory Level: 9AS has a high level of physical assets or inventory.
Debt Coverage by Assets: 9AS's debt is covered by short term assets (assets are 3.4x debt).
What is ALSO Holding's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 9AS's dividend (1.99%) is higher than the bottom 25% of dividend payers in the German market (1.38%).
High Dividend: 9AS's dividend (1.99%) is low compared to the top 25% of dividend payers in the German market (3.53%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, 9AS has been paying a dividend for less than 10 years.
Growing Dividend: 9AS's dividend payments have increased, but the company has only paid a dividend for 8 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (38.8%), 9AS's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: 9AS's dividends in 3 years are forecast to be well covered by earnings (34.3% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Gustavo Möller-Hergt (57yo)
Prof. Gustavo Möller-Hergt has been the Chief Executive Officer of ALSO Holding AG (also known as, ALSO-Actebis Holding AG) since July 1, 2012 and also has been its Chairman since March 13, 2014. Prof. Mö ...
CEO Compensation Analysis
Compensation vs Market: Gustavo's total compensation ($USD2.61M) is above average for companies of similar size in the German market ($USD1.50M).
Compensation vs Earnings: Gustavo's compensation has been consistent with company performance over the past year.
|Chairman & CEO||7.17yrs||€2.59m||no data|
|Chief Financial Officer||8.58yrs||no data||no data|
|Chief Information Officer||no data||no data||no data|
|General Counsel||no data||no data||no data|
|Chief Transformation Officer||5.33yrs||no data||no data|
|Head of E-Business Unit||no data||no data||no data|
|Senior Vice President of Vendor Management||6.67yrs||no data||no data|
|Managing Director of ALSO Switzerland||no data||no data||no data|
|Senior Vice President of Mergers & Acquisitions||no data||no data||no data|
|Managing Director of ALSO Poland||no data||no data||no data|
Experienced Management: 9AS's management team is seasoned and experienced (6.9 years average tenure).
|Chairman & CEO||7.17yrs||€2.59m||no data|
|Vice Chairman & Lead Director||8.58yrs||€140.00k||no data|
|Non-Executive Director||8.58yrs||€95.00k||no data|
|Non-Executive Director||5.5yrs||€106.00k||no data|
|Non-Executive Director||26.25yrs||€94.00k||0.000080% €1.4k|
Experienced Board: 9AS's board of directors are considered experienced (7 years average tenure).
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.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
ALSO Holding AG's company bio, employee growth, exchange listings and data sources
- Name: ALSO Holding AG
- Ticker: 9AS
- Exchange: DB
- Founded: 1984
- Industry: Technology Distributors
- Sector: Tech
- Market Cap: CHF1.831b
- Listing Market Cap: CHF1.688b
- Shares outstanding: 12.82m
- Website: https://www.also.com
Number of Employees
- ALSO Holding AG
- Meierhofstrasse 5
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|ALSN||SWX (SIX Swiss Exchange)||Yes||Registered Shares||CH||CHF||Feb 2011|
|9AS||DB (Deutsche Boerse AG)||Yes||Registered Shares||DE||EUR||Feb 2011|
|0QLW||LSE (London Stock Exchange)||Yes||Registered Shares||GB||CHF||Feb 2011|
ALSO Holding AG operates as a service provider for the ICT industry. The company offers various ICT product categories of hardware, software, and information technology (IT) services. It also provides customized services in the logistics, finance, IT, and digital services sectors, as well as traditional distribution services. The company serves retailers, e-tailers, corporate customers, value-added resellers, small and medium-sized business resellers, and others. It has operations in Austria, France, Germany, Switzerland, Belgium, Denmark, Estonia, Finland, Latvia, Lithuania, the Netherlands, Norway, Poland, Slovenia, and Sweden. The company was formerly known as ALSO-Actebis Holding AG and changed its name to ALSO Holding AG in March 2013. The company was founded in 1984 and is headquartered in Emmen, Switzerland. ALSO Holding AG operates as a subsidiary of Droege International Group AG.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2019/09/25 21:33|
|End of Day Share Price||2019/06/28 00:00|
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.