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Kapsch TrafficCom

DB:BZ6
Snowflake Description

Established dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BZ6
DB
€420M
Market Cap
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Last updated 2019/04/24 21:26
Company description

Kapsch TrafficCom AG provides intelligent transportation systems (ITS) worldwide. The last earnings update was 63 days ago. More info.

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BZ6 Share Price and Events
7 Day Returns
1.9%
DB:BZ6
1.3%
DE Electronic
1%
DE Market
1 Year Returns
-13.3%
DB:BZ6
-2%
DE Electronic
-5.6%
DE Market
BZ6 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kapsch TrafficCom (BZ6) 1.9% 7.2% -7.6% -13.3% 9.1% -18.2%
DE Electronic 1.3% 8.7% 21% -2% 99.1% 103.6%
DE Market 1% 6.1% 8.4% -5.6% 10.9% 13.8%
1 Year Return vs Industry and Market
  • BZ6 underperformed the Electronic industry which returned -2% over the past year.
  • BZ6 underperformed the Market in Germany which returned -5.6% over the past year.
Price Volatility
BZ6
Industry
5yr Volatility vs Market

Value

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

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Kapsch TrafficCom to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Kapsch TrafficCom.

DB:BZ6 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.4%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:BZ6
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.5%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.07
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.068 (1 + (1- 25%) (40.18%)) 		1.262
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)		 1.26
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.262 * 6.51%) 		8.44%

Discounted Cash Flow Calculation for DB:BZ6 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Kapsch TrafficCom is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:BZ6 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 8.44%)
2019 -46.99 Est @ -8.16% -43.34
2020 36.80 Analyst x1 31.29
2021 60.40 Analyst x1 47.37
2022 40.60 Analyst x1 29.36
2023 40.00 Analyst x1 26.67
2024 42.60 Analyst x1 26.20
2025 40.20 Est @ -5.64% 22.79
2026 38.63 Est @ -3.88% 20.20
2027 37.61 Est @ -2.65% 18.14
2028 36.94 Est @ -1.79% 16.43
Present value of next 10 years cash flows €195.12
DB:BZ6 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €36.94 × (1 + 0.23%) ÷ (8.44% – 0.23%) 		€450.81
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €450.81 ÷ (1 + 8.44%)10 		€200.48
DB:BZ6 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €195.12 + €200.48 		€395.61
Equity Value per Share
(EUR)		 = Total value / Shares Outstanding
= €395.61 / 13.00 		€30.43
DB:BZ6 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:BZ6 represents 0.9969x of WBAG:KTCG
(This could be a different class, a depositary receipt, a different currency, or all of these things.) 		0.9969x
Value per Share
(Listing Adjusted, EUR)		 = Value per Share (EUR) x Listing Adjustment Factor
= € 30.43 x 0.9969 		€30.34
Value per share (EUR) From above. €30.34
Current discount Discount to share price of €32.20
= -1 x (€32.20 - €30.34) / €30.34 		-6.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Kapsch TrafficCom is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Kapsch TrafficCom's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kapsch TrafficCom's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:BZ6 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €2.17
WBAG:KTCG Share Price ** WBAG (2019-04-24) in EUR €32.3
Germany Electronic Industry PE Ratio Median Figure of 13 Publicly-Listed Electronic Companies 23.43x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.72x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Kapsch TrafficCom.

DB:BZ6 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= WBAG:KTCG Share Price ÷ EPS (both in EUR)

= 32.3 ÷ 2.17

 14.87x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kapsch TrafficCom is good value based on earnings compared to the DE Electronic industry average.
  • Kapsch TrafficCom is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Kapsch TrafficCom's expected growth come at a high price?
Raw Data
DB:BZ6 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.87x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts		 2%per year
Germany Electronic Industry PEG Ratio Median Figure of 12 Publicly-Listed Electronic Companies 2.13x
Germany Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

DB:BZ6 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.87x ÷ 2%

 7.33x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kapsch TrafficCom is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Kapsch TrafficCom's assets?
Raw Data
DB:BZ6 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €17.94
WBAG:KTCG Share Price * WBAG (2019-04-24) in EUR €32.3
Germany Electronic Industry PB Ratio Median Figure of 19 Publicly-Listed Electronic Companies 2.57x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.87x
DB:BZ6 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= WBAG:KTCG Share Price ÷ Book Value per Share (both in EUR)

= 32.3 ÷ 17.94

 1.8x

* Primary Listing of Kapsch TrafficCom.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kapsch TrafficCom is good value based on assets compared to the DE Electronic industry average.
Show me more potentially undervalued companies in the Electronic industry
X
Value checks
We assess Kapsch TrafficCom's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electronic industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electronic industry average (and greater than 0)? (1 check)
    5. Kapsch TrafficCom has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Kapsch TrafficCom expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kapsch TrafficCom expected to grow at an attractive rate?
  • Kapsch TrafficCom's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Kapsch TrafficCom's earnings growth is positive but not above the Germany market average.
  • Kapsch TrafficCom's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:BZ6 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:BZ6 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 2%
DB:BZ6 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts -5.4%
Germany Electronic Industry Earnings Growth Rate Market Cap Weighted Average 13%
Germany Electronic Industry Revenue Growth Rate Market Cap Weighted Average 7.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:BZ6 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:BZ6 Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31
2023-03-31
2022-03-31 610 34 1
2021-03-31 657 56 31 2
2020-03-31 747 46 38 2
2019-03-31 733 -2 32 2
DB:BZ6 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 719 -30 28
2018-09-30 690 26 23
2018-06-30 687 34 25
2018-03-31 694 42 29
2017-12-31 686 47 37
2017-09-30 685 29 37
2017-06-30 664 32 38
2017-03-31 652 55 44
2016-12-31 621 71 40
2016-09-30 588 92 35
2016-06-30 562 102 34
2016-03-31 527 98 31

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Kapsch TrafficCom's earnings are expected to grow by 2% yearly, however this is not considered high growth (20% yearly).
  • Kapsch TrafficCom's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:BZ6 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Kapsch TrafficCom Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BZ6 Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31
2023-03-31
2022-03-31 2.62 2.62 2.62 1.00
2021-03-31 2.40 2.43 2.37 2.00
2020-03-31 2.93 3.42 2.44 2.00
2019-03-31 2.46 2.60 2.32 2.00
DB:BZ6 Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 2.17
2018-09-30 1.80
2018-06-30 1.89
2018-03-31 2.21
2017-12-31 2.84
2017-09-30 2.87
2017-06-30 2.90
2017-03-31 3.35
2016-12-31 3.06
2016-09-30 2.69
2016-06-30 2.62
2016-03-31 2.39

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Kapsch TrafficCom is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Kapsch TrafficCom's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Kapsch TrafficCom has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Kapsch TrafficCom performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Kapsch TrafficCom's growth in the last year to its industry (Electronic).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Kapsch TrafficCom has delivered over 20% year on year earnings growth in the past 5 years.
  • Kapsch TrafficCom's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Kapsch TrafficCom's 1-year earnings growth is negative, it can't be compared to the DE Electronic industry average.
Earnings and Revenue History
Kapsch TrafficCom's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Kapsch TrafficCom Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BZ6 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 719.06 28.24 275.09
2018-09-30 689.56 23.42 269.47
2018-06-30 687.48 24.61 265.61
2018-03-31 693.66 28.68 263.44
2017-12-31 685.72 36.95 261.17
2017-09-30 685.17 37.34 260.58
2017-06-30 663.73 37.70 257.18
2017-03-31 652.03 43.61 250.44
2016-12-31 620.79 39.81 227.59
2016-09-30 588.22 34.99 206.53
2016-06-30 562.15 34.00 194.22
2016-03-31 526.80 31.09 173.54
2015-12-31 486.73 29.61 187.41
2015-09-30 464.43 23.82 183.28
2015-06-30 455.86 14.14 171.35
2015-03-31 456.48 3.63 168.89
2014-12-31 481.59 -3.74 167.26
2014-09-30 488.59 -3.13 163.03
2014-06-30 483.69 -2.08 163.56
2014-03-31 487.11 -4.30 161.83
2013-12-31 533.08 18.71 160.04
2013-09-30 521.79 16.12 157.01
2013-06-30 504.23 12.72 154.43
2013-03-31 489.22 9.79 152.03
2012-12-31 453.09 -11.23 150.81
2012-09-30 474.67 -7.43 149.35
2012-06-30 521.75 3.59 144.88

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Kapsch TrafficCom has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Kapsch TrafficCom used its assets less efficiently than the DE Electronic industry average last year based on Return on Assets.
  • Kapsch TrafficCom's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Kapsch TrafficCom's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electronic industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Kapsch TrafficCom has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Kapsch TrafficCom's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Kapsch TrafficCom's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kapsch TrafficCom is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Kapsch TrafficCom's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Kapsch TrafficCom's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Kapsch TrafficCom Company Filings, last reported 3 months ago.

DB:BZ6 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 234.43 168.72 125.79
2018-09-30 220.94 167.85 136.12
2018-06-30 231.37 169.13 163.32
2018-03-31 229.93 168.43 184.05
2017-12-31 228.25 120.69 145.81
2017-09-30 222.30 194.30 177.68
2017-06-30 232.63 194.44 206.89
2017-03-31 227.31 195.38 213.46
2016-12-31 215.96 173.08 190.40
2016-09-30 207.33 174.72 173.31
2016-06-30 220.68 177.80 191.53
2016-03-31 230.66 107.08 140.78
2015-12-31 224.97 113.56 138.03
2015-09-30 218.57 121.42 102.34
2015-06-30 223.33 126.27 100.42
2015-03-31 219.36 137.95 102.06
2014-12-31 208.98 143.65 100.14
2014-09-30 214.79 146.72 70.85
2014-06-30 205.67 149.68 82.47
2014-03-31 213.11 156.05 62.66
2013-12-31 210.86 150.24 63.35
2013-09-30 218.45 149.80 49.51
2013-06-30 217.06 151.05 65.71
2013-03-31 236.70 124.03 83.53
2012-12-31 224.24 91.60 92.56
2012-09-30 222.50 92.57 76.22
2012-06-30 247.39 85.72 85.88
  • Kapsch TrafficCom's level of debt (72%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (71.3% vs 72% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 18.4x coverage).
X
Financial health checks
We assess Kapsch TrafficCom's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
    7. Kapsch TrafficCom has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.64%
Current annual income from Kapsch TrafficCom dividends. Estimated to be 4.64% next year.
If you bought €2,000 of Kapsch TrafficCom shares you are expected to receive €93 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Kapsch TrafficCom's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • Kapsch TrafficCom's dividend is above the markets top 25% of dividend payers in Germany (3.7%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:BZ6 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Germany Electronic Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 1.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:BZ6 Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-03-31
2023-03-31
2022-03-31 1.50 1.00
2021-03-31 1.50 2.00
2020-03-31 1.50 2.00
2019-03-31 1.50 2.00
DB:BZ6 Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-06-18 1.500 4.344
2017-06-20 1.500 3.388
2016-08-24 1.500 3.693
2015-09-09 0.500 1.545
2015-02-25 0.000 0.000
2014-11-20 0.000 0.000
2014-08-20 0.000 0.000
2014-07-15 0.000 0.000
2014-06-25 0.000 0.000
2014-06-11 0.000 0.000
2013-09-12 0.400 1.011
2012-07-17 0.900 2.181
2012-04-16 0.900 1.442
2011-08-22 1.000 1.777
2010-06-16 0.750 1.533
2009-06-02 0.500 2.019

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Kapsch TrafficCom's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
Show me more dividend paying companies in the Electronic industry
X
Income/ dividend checks
We assess Kapsch TrafficCom's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Kapsch TrafficCom afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
    7. Kapsch TrafficCom has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Georg Kapsch
COMPENSATION €1,135,000
AGE 59
TENURE AS CEO 16.3 years
CEO Bio

Mag. Georg Kapsch, M.P. serves as the Chief Executive Officer at Kapsch TrafficCom Russia OOO. Mag. Kapsch serves as the Chairman of Executive Board at Kapsch TrafficCom AG and has been its Chief Executive Officer since December 2002. He has been a Member of Executive Board at Kapsch TrafficCom AG since December 2002. He has been the Chief Executive Officer of Kapsch AG and Kapsch-Group Beteiligungs GmbH, since October 2001 and October 2000 respectively. Mag. Kapsch serves as the Chairman of the Management Board of Kapsch AG. He has been Member of the Management Board of Kapsch AG, since July 1989 and Kapsch TrafficCom AG, since December 2002. Mag. Kapsch has been the Chairman of Technikum Wien Academy (Fachhochschule Technikum Wien) since September 2002, deputy chairman of the Austrian Association of the Electronics Industries (Hauptausschuss des µ Osterreichischen Verbandes der Elektronik-Industrie) since December 2002 and Vice President of the Austrian Electrotechnical Association (Fachverband der Elektro- und Elektronikindustrie) since January 2003. He serves as Deputy Chairman of Supervisory Board at Kapsch BusinessCom AG. He serves as Member of Supervisory Board at Teufelberger Holding Aktiengesellschaft. Mag. Kapsch studied business administration at Vienna University of Economics and Business Administration (Wirtschaftsuniversit at Wien) and graduated in 1981.

CEO Compensation
  • Georg's compensation has been consistent with company performance over the past year.
  • Georg's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Kapsch TrafficCom management team in years:

3.4
Average Tenure
54
Average Age
  • The tenure for the Kapsch TrafficCom management team is about average.
Management Team

Georg Kapsch

TITLE
Chairman of Executive Board & CEO
COMPENSATION
€1M
AGE
59
TENURE
16.3 yrs

André Laux

TITLE
Member of Executive Board & COO
COMPENSATION
€589K
AGE
56
TENURE
4.4 yrs

Alexander Lewald

TITLE
Member of Executive Board & CTO
COMPENSATION
€531K
AGE
54
TENURE
3.4 yrs

Ulrike Klemm-Pöttinger

TITLE
Executive Vice President of Finance

Hans Lang

TITLE
Investor Relations & Compliance Officer
TENURE
2.7 yrs

Japjeev Kohli

TITLE
Chief Technology Officer of North American Region
TENURE
3 yrs

J. Kendrick

TITLE
Senior Vice President of Sales & Business Development - North America
TENURE
1.6 yrs

Nathalie Leboucher

TITLE
Senior Vice President of Western Europe
AGE
52

Chris Murray

TITLE
CEO & President of Kapsch TrafficCom IVHS
TENURE
8.2 yrs

Ingolf Planer

TITLE
Managing Director of Kapsch Components GmbH
AGE
46
Board of Directors Tenure

Average tenure and age of the Kapsch TrafficCom board of directors in years:

10.8
Average Tenure
51
Average Age
  • The average tenure for the Kapsch TrafficCom board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Franz Semmernegg

TITLE
Chairman of the Supervisory Board
AGE
50
TENURE
13.8 yrs

Kari Kapsch

TITLE
Deputy Chairman of the Supervisory Board
AGE
54
TENURE
13.8 yrs

Christian Windisch

TITLE
Member of Supervisory Board
AGE
55
TENURE
16.4 yrs

Claudia Rudolf-Misch

TITLE
Member of Supervisory Board
AGE
51
TENURE
0.4 yrs

Sabine Kauper

TITLE
Member of Supervisory Board
AGE
50
TENURE
7.7 yrs

Harald Sommerer

TITLE
Member of Supervisory Board
AGE
51
TENURE
5.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Kapsch TrafficCom's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
    5. Kapsch TrafficCom has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Kapsch TrafficCom AG provides intelligent transportation systems (ITS) worldwide. It operates through two segments, Electronic Toll Collection (ETC) and Intelligent Mobility Solutions. The company offers in-vehicle products, including CEN, WAVE, and GNSS/DSRC on-board units; transponders; and programming stations. It also provides RF field products comprising CEN DSRC and WAVE DSRC transceivers, RFID readers, and handheld readers; and video and sensor products, such as automatic number plate recognition and classification products. In addition, the company offers technical operation services, such as service and maintenance of the roadside components, as well as operation of point-of-sale and data center applications; and commercial operation services, including issuing the relevant access devices in the form of on-board units, transponders, and processing payments. Further, it operates points of sale and online shops; and manages Websites and mobile apps, as well as provides call center services. The company was founded in 1892 and is headquartered in Vienna, Austria. Kapsch TrafficCom AG is a subsidiary of KAPSCH-Group Beteiligungs GmbH.

Details
Name: Kapsch TrafficCom AG
BZ6
Exchange: DB
Founded: 1892
€419,900,000
13,000,000
Website: http://www.kapschtraffic.com
Address: Kapsch TrafficCom AG
Am Europlatz 2,
Vienna,
Vienna, 1120,
Austria
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WBAG KTCG Ordinary Shares Wiener Boerse AG AT EUR 26. Jun 2007
OTCPK KPSH.F Ordinary Shares Pink Sheets LLC US USD 26. Jun 2007
DB BZ6 Ordinary Shares Deutsche Boerse AG DE EUR 26. Jun 2007
LSE 0GTO Ordinary Shares London Stock Exchange GB EUR 26. Jun 2007
BATS-CHIXE KTCGV Ordinary Shares BATS 'Chi-X Europe' GB EUR 26. Jun 2007
Number of employees
Current staff
Staff numbers
4,932
Kapsch TrafficCom employees.
Industry
Electronic Equipment and Instruments
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 21:26
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2019/04/08
Last earnings filing: 2019/02/20
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.

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