DB: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 Analysis

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

Stable Share Price: BSL has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.7%

BSL

-2.4%

DE Electronic

-0.2%

DE Market


1 Year Return

6.5%

BSL

8.1%

DE Electronic

13.7%

DE Market

Return vs Industry: BSL underperformed the German Electronic industry which returned 8.7% over the past year.

Return vs Market: BSL underperformed the German Market which returned 14.4% over the past year.


Shareholder returns

BSLIndustryMarket
7 Day-0.7%-2.4%-0.2%
30 Day-1.1%9.1%0.3%
90 Day1.5%6.8%3.7%
1 Year7.6%6.5%10.5%8.1%17.2%13.7%
3 Year142.5%135.9%48.0%43.1%15.4%5.3%
5 Year240.5%223.3%113.5%98.2%21.3%4.7%

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

No news available

Valuation

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

60.78x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BSL (€55.6) is trading above our estimate of fair value (€33.12)

Significantly Below Fair Value: BSL is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BSL is poor value based on its PE Ratio (60.8x) compared to the Electronic industry average (33.5x).

PE vs Market: BSL is poor value based on its PE Ratio (60.8x) compared to the German market (20.7x).


Price to Earnings Growth Ratio

PEG Ratio: BSL is poor value based on its PEG Ratio (2.5x)


Price to Book Ratio

PB vs Industry: BSL is overvalued based on its PB Ratio (5.5x) compared to the DE Electronic industry average (1.8x).


Next Steps

Future Growth

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

24.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BSL's forecast earnings growth (24.8% per year) is above the savings rate (-0.4%).

Earnings vs Market: BSL's earnings (24.8% per year) are forecast to grow faster than the German market (13.3% per year).

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

Revenue vs Market: BSL's revenue (10.1% per year) is forecast to grow faster than the German market (5% per year).

High Growth Revenue: BSL's revenue (10.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BSL's Return on Equity is forecast to be low in 3 years time (15.6%).


Next Steps

Past Performance

How has Basler performed over the past 5 years?

16.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BSL has high quality earnings.

Growing Profit Margin: BSL's current net profit margins (5.8%) are lower than last year (12.7%).


Past Earnings Growth Analysis

Earnings Trend: BSL's earnings have grown by 16.3% 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 (-51.1%) over the past year, making it difficult to compare to the Electronic industry average (-3.9%).


Return on Equity

High ROE: BSL's Return on Equity (9%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Basler's financial position?


Financial Position Analysis

Short Term Liabilities: BSL's short term assets (€83.9M) exceed its short term liabilities (€30.4M).

Long Term Liabilities: BSL's short term assets (€83.9M) exceed its long term liabilities (€45.1M).


Debt to Equity History and Analysis

Debt Level: BSL's debt to equity ratio (20.1%) is considered satisfactory.

Reducing Debt: BSL's debt to equity ratio has reduced from 25.5% to 20.1% over the past 5 years.

Debt Coverage: BSL's debt is well covered by operating cash flow (89.5%).

Interest Coverage: BSL's interest payments on its debt are well covered by EBIT (24.9x 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 4.1x debt).


Next Steps

Dividend

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

0.95%

Current Dividend Yield


Dividend Yield vs Market

company0.9%marketbottom25%1.3%markettop25%3.7%industryaverage1.2%forecastin3Years1.0%

Current dividend yield vs market & industry

Notable Dividend: BSL's dividend (0.95%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.32%).

High Dividend: BSL's dividend (0.95%) is low compared to the top 25% of dividend payers in the German market (3.63%).


Stability and Growth of Payments

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 (57.7%), 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 (30.3% payout ratio).


Next Steps

Management

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

13.1yrs

Average management tenure


CEO

Dietmar Ley (55yo)

20yrs

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 ($USD604.56K) is below average for companies of similar size in the German market ($USD1.19M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Norbert Basler
Founder & Chairman of the Supervisory Board17.1yrsno datano data
Dietmar Ley
Chairman of the Management Board & CEO20yrs€560.00k3.77% 21.1m
Hardy Mehl
CFO, COO & Member of Management Board0yrs€445.00k0.036% 200.9k
John Jennings
Chief Commercial Officer & Member of Management Board15.1yrs€531.00k0.13% 753.3k
Arndt Bake
Chief Marketing Officer & Member of Management Board9.1yrs€388.00k0.012% 67.0k
Anke Wubbelmann
Head of Communications11.1yrsno datano data
Sabine Knuppel
Director of Human Resources & Organization0yrsno datano data
Carsten Ohrt
Head of Manufacturing0yrsno datano data
Anja Sievers-Sack
Head of Vocational Education & HR Marketing0yrsno datano data
Andy Rowe
Head of Finance - UK0yrsno datano data

13.1yrs

Average Tenure

55yo

Average Age

Experienced Management: BSL's management team is seasoned and experienced (13.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Norbert Basler
Founder & Chairman of the Supervisory Board17.1yrsno datano data
Eckart Kottkamp
Vice Chairman of the Supervisory Board0yrsno datano data
Dorothea Brandes
Employees Representative Supervisory Board1.8yrsno datano data
Horst Garbrecht
Member of Supervisory Board4.8yrsno datano data
Mirja Steinkamp
Member of Supervisory Board2.8yrsno datano data
Marco Grimm
Member of the Supervisory Board1.8yrsno datano data

2.8yrs

Average Tenure

56yo

Average Age

Experienced Board: BSL's board of directors are not considered experienced ( 2.8 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

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


Key Information

  • Name: Basler Aktiengesellschaft
  • Ticker: BSL
  • Exchange: DB
  • Founded: 1988
  • Industry: Electronic Equipment and Instruments
  • Sector: Tech
  • Market Cap: €558.433m
  • 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 and IP, and network cameras; accessories, including lenses, I/O cables, power supplies, data cables, host adapters, hubs, and switches; and pylon camera software suite for getting Basler camera up and running. It also provides cameras, powerpacks, software, and components for embedded vision. Its products are used in factory automation, retail, traffic and transportation, and medical and life sciences applications, as well as in sports and motion, security and surveillance, logistics, and agriculture applications. Basler Aktiengesellschaft was founded in 1988 and is headquartered in Ahrensburg, Germany. Basler Aktiengesellschaft is a subsidiary of Basler Beteiligungs-GmbH & Co. KG. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/20 20:49
End of Day Share Price2020/02/20 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.