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FORTEC Elektronik

DB:FEV
Snowflake Description

Excellent balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FEV
DB
€70M
Market Cap
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Last updated 2019/04/22 20:51
Company description

FORTEC Elektronik AG provides industrial power supplies and display technologies in Germany, the United Kingdom, and internationally. The last earnings update was 24 days ago. More info.

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FEV Share Price and Events
7 Day Returns
4.4%
DB:FEV
1.6%
DE Electronic
1.8%
DE Market
1 Year Returns
5.4%
DB:FEV
-0.2%
DE Electronic
-6%
DE Market
FEV Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
FORTEC Elektronik (FEV) 4.4% 4.9% 7% 5.4% 48.9% 97.2%
DE Electronic 1.6% 8.1% 19.2% -0.2% 98.5% 105%
DE Market 1.8% 6% 7.8% -6% 10.1% 15.3%
1 Year Return vs Industry and Market
  • FEV outperformed the Electronic industry which returned -0.2% over the past year.
  • FEV outperformed the Market in Germany which returned -6% over the past year.
Price Volatility
FEV
Industry
5yr Volatility vs Market

Value

 Is FORTEC Elektronik 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 FORTEC Elektronik 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 FORTEC Elektronik.

DB:FEV Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.6%
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:FEV
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.07
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.067 (1 + (1- 30%) (6.3%)) 		1.077
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)		 1.08
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.077 * 5.96%) 		6.65%

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

The calculations below outline how an intrinsic value for FORTEC Elektronik 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:FEV DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.65%)
2019 1.90 Analyst x1 1.78
2020 3.80 Analyst x1 3.34
2021 4.20 Analyst x1 3.46
2022 4.50 Est @ 7.07% 3.48
2023 4.72 Est @ 5.02% 3.42
2024 4.89 Est @ 3.58% 3.33
2025 5.02 Est @ 2.58% 3.20
2026 5.11 Est @ 1.87% 3.06
2027 5.18 Est @ 1.38% 2.90
2028 5.24 Est @ 1.03% 2.75
Present value of next 10 years cash flows €30.72
DB:FEV DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €5.24 × (1 + 0.23%) ÷ (6.65% – 0.23%) 		€81.78
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €81.78 ÷ (1 + 6.65%)10 		€42.98
DB:FEV Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €30.72 + €42.98 		€73.70
Equity Value per Share
(EUR)		 = Total value / Shares Outstanding
= €73.70 / 3.25 		€22.67
DB:FEV Discount to Share Price
Calculation Result
Value per share (EUR) From above. €22.67
Current discount Discount to share price of €21.50
= -1 x (€21.50 - €22.67) / €22.67 		5.2%

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

Current Discount
Amount off the current price FORTEC Elektronik is available for.
Intrinsic value
5%
Share price is €21.5 vs Future cash flow value of €22.67
Current Discount Checks
For FORTEC Elektronik to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • FORTEC Elektronik's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • FORTEC Elektronik's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 FORTEC Elektronik's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are FORTEC Elektronik's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:FEV PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €1.46
DB:FEV Share Price ** DB (2019-04-18) in EUR €21.5
Germany Electronic Industry PE Ratio Median Figure of 13 Publicly-Listed Electronic Companies 23.37x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.59x

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

** Primary Listing of FORTEC Elektronik.

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

= DB:FEV Share Price ÷ EPS (both in EUR)

= 21.5 ÷ 1.46

 14.73x

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

  • FORTEC Elektronik is good value based on earnings compared to the DE Electronic industry average.
  • FORTEC Elektronik is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does FORTEC Elektronik's expected growth come at a high price?
Raw Data
DB:FEV PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.73x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts		 6.4%per year
Germany Electronic Industry PEG Ratio Median Figure of 12 Publicly-Listed Electronic Companies 2.1x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.73x ÷ 6.4%

 2.29x

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

  • FORTEC Elektronik is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on FORTEC Elektronik's assets?
Raw Data
DB:FEV PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €11.96
DB:FEV Share Price * DB (2019-04-18) in EUR €21.5
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 1.84x
DB:FEV PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= DB:FEV Share Price ÷ Book Value per Share (both in EUR)

= 21.5 ÷ 11.96

 1.8x

* Primary Listing of FORTEC Elektronik.

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

  • FORTEC Elektronik 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 FORTEC Elektronik'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. FORTEC Elektronik 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 FORTEC Elektronik expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
6.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is FORTEC Elektronik expected to grow at an attractive rate?
  • FORTEC Elektronik's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • FORTEC Elektronik's earnings growth is positive but not above the Germany market average.
  • FORTEC Elektronik's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:FEV Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:FEV Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 6.4%
DB:FEV Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 4.5%
Germany Electronic Industry Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Electronic Industry Revenue Growth Rate Market Cap Weighted Average 7.8%
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:FEV Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:FEV Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30 106 1
2022-06-30 102 1
2021-06-30 98 6 6 1
2020-06-30 94 5 6 1
2019-06-30 90 3 5 1
DB:FEV Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 85 4 5
2018-09-30 82 5
2018-06-30 80 3 4
2018-03-31 79 5
2017-12-31 78 6 5
2017-09-30 80 5
2017-06-30 79 5 4
2017-03-31 78 3
2016-12-31 76 3 3
2016-09-30 77 3
2016-06-30 78 3 3
2016-03-31 72 3 3

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • FORTEC Elektronik's earnings are expected to grow by 6.4% yearly, however this is not considered high growth (20% yearly).
  • FORTEC Elektronik's revenue is expected to grow by 4.5% yearly, however this is not considered high growth (20% yearly).
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:FEV 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 1 Analyst Estimates (S&P Global) See Below

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

DB:FEV Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-06-30
2022-06-30
2021-06-30 1.83 1.83 1.83 1.00
2020-06-30 1.75 1.75 1.75 1.00
2019-06-30 1.67 1.67 1.67 1.00
DB:FEV Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 1.46
2018-09-30 1.46
2018-06-30 1.33
2018-03-31 1.64
2017-12-31 1.58
2017-09-30 1.59
2017-06-30 1.44
2017-03-31 1.11
2016-12-31 0.99
2016-09-30 0.93
2016-06-30 0.97
2016-03-31 1.08

*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.
  • FORTEC Elektronik is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess FORTEC Elektronik'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.
FORTEC Elektronik 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 FORTEC Elektronik 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 FORTEC Elektronik'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.
  • FORTEC Elektronik has delivered over 20% year on year earnings growth in the past 5 years.
  • FORTEC Elektronik's 1-year earnings growth is less than its 5-year average (6% vs 26.1%)
  • FORTEC Elektronik's earnings growth has not exceeded the DE Electronic industry average in the past year (6% vs 18.1%).
Earnings and Revenue History
FORTEC Elektronik'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 FORTEC Elektronik Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:FEV 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 84.87 4.95 14.73
2018-09-30 81.79 4.84 14.13
2018-06-30 79.57 4.32 13.87
2018-03-31 78.67 4.85 13.50
2017-12-31 78.48 4.67 13.75
2017-09-30 79.72 4.70 13.85
2017-06-30 78.52 4.26 13.95
2017-03-31 77.78 3.29 13.58
2016-12-31 75.80 2.94 13.37
2016-09-30 77.17 2.75 13.49
2016-06-30 78.18 2.88 13.56
2016-03-31 71.54 3.21 11.41
2015-12-31 64.02 2.70 9.68
2015-09-30 53.97 2.46 7.86
2015-06-30 45.91 1.87 6.24
2015-03-31 45.88 1.57 5.58
2014-12-31 45.97 1.79 5.65
2014-09-30 45.57 1.54 5.63
2014-06-30 45.55 1.54 5.61
2014-03-31 44.87 1.59 6.11
2013-12-31 43.95 1.54 5.99
2013-09-30 44.63 1.76 6.02
2013-06-30 44.54 1.76 5.97
2013-03-31 44.61 1.95 5.95
2012-12-31 45.67 2.09 6.04
2012-09-30 46.34 2.15 6.15
2012-06-30 48.27 2.23 6.20

*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.
  • FORTEC Elektronik has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • FORTEC Elektronik used its assets more efficiently than the DE Electronic industry average last year based on Return on Assets.
  • FORTEC Elektronik has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess FORTEC Elektronik'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.
FORTEC Elektronik has a total score of 3/6, 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 FORTEC Elektronik'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 FORTEC Elektronik's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • FORTEC Elektronik is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • FORTEC Elektronik's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of FORTEC Elektronik'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 9.3x 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 FORTEC Elektronik Company Filings, last reported 3 months ago.

DB:FEV Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 38.89 4.40 9.09
2018-09-30 38.02 4.66 9.62
2018-06-30 30.10 3.96 5.41
2018-03-31 28.93 4.77 5.39
2017-12-31 29.41 4.17 5.29
2017-09-30 28.88 4.58 4.69
2017-06-30 28.02 4.58 5.66
2017-03-31 26.77 5.42 4.17
2016-12-31 27.51 5.12 3.60
2016-09-30 24.14 5.00 3.85
2016-06-30 25.95 6.12 4.34
2016-03-31 24.78 4.73 5.94
2015-12-31 30.95 0.16 5.01
2015-09-30 30.06 0.50 5.51
2015-06-30 29.17 1.00 5.73
2015-03-31 22.01 0.00 1.73
2014-12-31 22.80 0.00 2.12
2014-09-30 22.43 0.00 2.97
2014-06-30 22.12 0.00 8.66
2014-03-31 21.44 0.00 7.78
2013-12-31 22.34 0.00 8.69
2013-09-30 22.28 0.00 7.16
2013-06-30 21.98 0.00 7.24
2013-03-31 21.44 0.00 7.02
2012-12-31 22.40 0.00 7.57
2012-09-30 22.12 0.00 7.92
2012-06-30 21.83 0.00 8.69
  • FORTEC Elektronik's level of debt (11.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 11.3% today).
  • Debt is well covered by operating cash flow (87.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 285.9x coverage).
Show me more healthy companies in the Electronic industry
X
Financial health checks
We assess FORTEC Elektronik'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. FORTEC Elektronik has a total score of 5/6, 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 FORTEC Elektronik'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
2.79%
Current annual income from FORTEC Elektronik dividends. Estimated to be 3.18% next year.
If you bought €2,000 of FORTEC Elektronik shares you are expected to receive €56 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?
  • FORTEC Elektronik's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • FORTEC Elektronik's dividend is below the markets top 25% of dividend payers in Germany (3.71%).
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:FEV 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 1 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:FEV Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-06-30
2022-06-30
2021-06-30 0.70 1.00
2020-06-30 0.70 1.00
2019-06-30 0.65 1.00
DB:FEV Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-10-26 0.600 3.049
2017-10-27 0.600 2.747
2016-11-01 0.600 3.270
2015-09-28 0.500 3.382
2015-02-19 0.500 3.632
2013-10-21 0.500 4.359
2012-10-30 0.500 4.832
2011-11-30 0.500 5.973
2011-10-31 0.500 5.873
2010-09-27 0.300 3.584
2009-08-31 0.300 4.569
2009-04-23 0.300 5.834

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of FORTEC Elektronik's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.6x coverage).
Show me more dividend paying companies in the Electronic industry
X
Income/ dividend checks
We assess FORTEC Elektronik'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 FORTEC Elektronik afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
    7. FORTEC Elektronik 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 FORTEC Elektronik'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
Sandra Maile
CEO Bio

Ms. Sandra Maile serves as Chief Executive Officer of Autronic GmbH, subsidiary of Fortec Elektronik AG. Ms. Maile serves as Chief Executive Officer and Spokeswoman of the Board at Fortec Elektronik AG. Ms. Maile has been Member of Board of Managing Directors at Fortec Elektronik AG since July 1, 2017.

CEO Compensation
  • Insufficient data for Sandra to compare compensation growth.
  • Insufficient data for Sandra to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team

Sandra Maile

TITLE
CEO & Spokeswoman of the Board

Jörg Traum

TITLE
COO of Power Supplies - Distribution & Member of Executive Board

Bernhard Staller

TITLE
COO of Display Technology & Embedded and Member of Board
TENURE
1.8 yrs
Board of Directors

Winfried Tillmann

TITLE
Chairman of Supervisory Board

Michael Höfer

TITLE
Deputy Chairman of Supervisory Board

Volker Grabner

TITLE
Member of Supervisory Board
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 FORTEC Elektronik'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. FORTEC Elektronik 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

The FORTEC Elektronik (FRA:FEV) Share Price Is Up 88% And Shareholders Are Holding On

To wit, the FORTEC Elektronik share price has climbed 88% in five years, easily topping the market return of 13% (ignoring dividends). … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … During five years of share price growth, FORTEC Elektronik achieved compound earnings per share (EPS) growth of 23% per year.

Simply Wall St - –

Does FORTEC Elektronik AG's (FRA:FEV) Past Performance Indicate A Stronger Future?

After reading FORTEC Elektronik AG's (FRA:FEV) latest earnings update (30 September 2018), I found it beneficial to look back at how the company has performed in the past and compare this against the most recent numbers. … Did FEV beat its long-term earnings growth trend and its industry. … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 26%, indicating the rate at which FEV is growing has slowed down

Simply Wall St - –

Looking At FORTEC Elektronik AG (FRA:FEV) From All Angles

FORTEC Elektronik AG (FRA:FEV) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … that has been able to sustain great financial health over the past

Simply Wall St - –

Is FORTEC Elektronik AG (FRA:FEV) Better Than Average At Deploying Capital?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Return On Capital Employed (ROCE): What is it? … Analysts use this formula to calculate return on capital employed:

Simply Wall St - –

FORTEC Elektronik AG (FRA:FEV): What’s In It For The Shareholders?

FORTEC Elektronik AG (FRA:FEV) shareholders, and potential investors, need to understand how much cash the business makes from its core operational activities, as well as how much is invested back into the business. … I’ve analysed below, the health and outlook of FORTEC Elektronik’s cash flow, which will help you understand the stock from a cash standpoint. … FORTEC Elektronik’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure

Simply Wall St - –

Only 3 Days Left To Cash In On FORTEC Elektronik AG (FRA:FEV) Dividend

If you are interested in cashing in on FORTEC Elektronik AG's (FRA:FEV) upcoming dividend of €0.60 per share, you only have 3 days left to buy the shares before its ex-dividend date, 15 February 2019, in time for dividends payable on the 19 February 2019. … Below, I will explain how holding FORTEC Elektronik can impact your portfolio income stream, by analysing the stock's most recent financial data and dividend attributes. … If you are a dividend investor, you should always assess these five key metrics:?

Simply Wall St - –

FORTEC Elektronik AG (FRA:FEV) Has A ROE Of 13%

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … One way to conceptualize this, is that for each €1 of shareholders' equity it has, the company made €0.13 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St - –

How Much Of FORTEC Elektronik AG (FRA:FEV) Do Institutions Own?

The big shareholder groups in FORTEC Elektronik AG (FRA:FEV) have power over the company. … FORTEC Elektronik is not a large company by global standards. … institutional investors have bought into the company.

Simply Wall St - –

Is FORTEC Elektronik AG (FRA:FEV) An Attractive Dividend Stock?

Historically, FORTEC Elektronik AG (FRA:FEV) has paid dividends to shareholders, and these days it yields 3.2%. … Let's dig deeper into whether FORTEC Elektronik should have a place in your portfolio. … Check out our latest analysis for FORTEC Elektronik

Simply Wall St - –

Understanding Your Return On Investment In FORTEC Elektronik AG (FRA:FEV)

and want a simplistic look at the return on FORTEC Elektronik AG (FRA:FEV) stock. … This share represents a portion of capital used by the company to operate the business, and it is important the company is able to use the capital base efficiently to create adequate cash flows for you as an investor. … Thus, to understand how your money can grow by investing in FORTEC Elektronik, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)

Simply Wall St - –

Company Info

Description

FORTEC Elektronik AG provides industrial power supplies and display technologies in Germany, the United Kingdom, and internationally. The company operates in two segments, Data Visualisation Systems and Power Supplies. It also offers DC/DC converters and products in the area of embedded computer technologies. The company also provides standard kits, support services, and industrial monitors. Fortec Elektronik AG was founded in 1984 and is based in Landsberg am Lech, Germany.

Details
Name: FORTEC Elektronik AG
FEV
Exchange: DB
Founded: 1984
€69,884,374
3,250,436
Website: http://www.fortecag.de
Address: FORTEC Elektronik AG
Lechwiesenstrasse 9,
Landsberg am Lech,
Bavaria, 86899,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
DB FEV Ordinary Shares Deutsche Boerse AG DE EUR 14. Aug 1992
XTRA FEV Ordinary Shares XETRA Trading Platform DE EUR 14. Aug 1992
LSE 0HQQ Ordinary Shares London Stock Exchange GB EUR 14. Aug 1992
Number of employees
Current staff
Staff numbers
224
FORTEC Elektronik employees.
Industry
Electronic Equipment and Instruments
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/22 20:51
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/02/19
Last earnings filing: 2019/03/29
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


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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