DB:SFRN

Stock Analysis Report

Schaffner Holding

Executive Summary

Schaffner Holding AG, together with its subsidiaries, develops, manufactures, and sells solutions for power electronic systems worldwide.


Snowflake Analysis

Excellent balance sheet with proven track record.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

0%

SFRN

1.6%

DE Electronic

-0.6%

DE Market


1 Year Return

-29.3%

SFRN

-28.3%

DE Electronic

-20.9%

DE Market

Return vs Industry: SFRN underperformed the German Electronic industry which returned 9.5% over the past year.

Return vs Market: SFRN underperformed the German Market which returned 17.1% over the past year.


Shareholder returns

SFRNIndustryMarket
7 Day0%1.6%-0.6%
30 Day0%-19.3%-20.0%
90 Day5.5%-23.2%-26.3%
1 Year-27.5%-29.3%-26.8%-28.3%-18.6%-20.9%
3 Year-0.2%-4.6%-4.0%-7.1%-19.0%-25.8%
5 Year-7.4%-16.1%53.5%42.4%-21.1%-31.8%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

14.77x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SFRN (€203) is trading above our estimate of fair value (€88.81)

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


Price To Earnings Ratio

PE vs Industry: SFRN is good value based on its PE Ratio (14.8x) compared to the Electronic industry average (27.1x).

PE vs Market: SFRN is good value based on its PE Ratio (14.8x) compared to the German market (20.6x).


Price to Earnings Growth Ratio

PEG Ratio: SFRN is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: SFRN is overvalued based on its PB Ratio (2.2x) compared to the DE Electronic industry average (1.8x).


Next Steps

Future Growth

How is Schaffner Holding forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

25.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SFRN's forecast earnings growth (25.2% per year) is above the savings rate (0.2%).

Earnings vs Market: SFRN's earnings (25.2% per year) are forecast to grow faster than the German market (13.2% per year).

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

Revenue vs Market: SFRN's revenue (3.9% per year) is forecast to grow slower than the German market (4.8% per year).

High Growth Revenue: SFRN's revenue (3.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SFRN's Return on Equity is forecast to be high in 3 years time (20%)


Next Steps

Past Performance

How has Schaffner Holding performed over the past 5 years?

-5.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SFRN has high quality earnings.

Growing Profit Margin: SFRN's current net profit margins (4.2%) are higher than last year (4.1%).


Past Earnings Growth Analysis

Earnings Trend: SFRN's earnings have declined by -5.9% per year over the past 5 years.

Accelerating Growth: SFRN's earnings growth over the past year (4.7%) exceeds its 5-year average (-5.9% per year).

Earnings vs Industry: SFRN earnings growth over the past year (4.7%) exceeded the Electronic industry 3.1%.


Return on Equity

High ROE: SFRN's Return on Equity (14.7%) is considered low.


Next Steps

Financial Health

How is Schaffner Holding's financial position?


Financial Position Analysis

Short Term Liabilities: SFRN's short term assets (CHF105.0M) exceed its short term liabilities (CHF40.9M).

Long Term Liabilities: SFRN's short term assets (CHF105.0M) exceed its long term liabilities (CHF43.9M).


Debt to Equity History and Analysis

Debt Level: SFRN's debt to equity ratio (65.1%) is considered high.

Reducing Debt: SFRN's debt to equity ratio has reduced from 82.8% to 65.1% over the past 5 years.

Debt Coverage: SFRN's debt is well covered by operating cash flow (30.6%).

Interest Coverage: SFRN's interest payments on its debt are well covered by EBIT (10.6x coverage).


Balance Sheet

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

Debt Coverage by Assets: SFRN's debt is covered by short term assets (assets are 2.7x debt).


Next Steps

Dividend

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

3.13%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SFRN's dividend (3.13%) is higher than the bottom 25% of dividend payers in the German market (1.38%).

High Dividend: SFRN's dividend (3.13%) is low compared to the top 25% of dividend payers in the German market (3.53%).


Stability and Growth of Payments

Stable Dividend: SFRN's dividend payments have been volatile in the past 10 years.

Growing Dividend: SFRN's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (46.1%), SFRN's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

1.7yrs

Average management tenure


CEO

Marc Aeschlimann (51yo)

2s

Tenure

CHF681,000

Compensation

Mr. Marc Aeschlimann has been the Chief Executive Officer of Schaffner Holding AG since September 1, 2017. Mr. Aeschlimann served as Chief Executive Officer of Franke Kaffeemaschinen AG (alternate name, Fr ...


CEO Compensation Analysis

Compensation vs Market: Marc's total compensation ($USD687.80K) is above average for companies of similar size in the German market ($USD425.50K).

Compensation vs Earnings: Insufficient data to compare Marc's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Marc Aeschlimann
Chief Executive Officer2yrsCHF681.00k0.038% CHF46.6k
Christian Herren
Chief Financial Officer0.67yrno datano data
Max Bänziger
Chief Operating Officer1.67yrsno datano data
Susanne Bolliger
Head of Corporate Human Resources10.92yrsno datano data
Guido Schlegelmilch
Head of the EMC Division & Executive VP7.92yrsno data0.078% CHF94.4k
Martin Lütenegger
Head of Automotive Division & Executive VP0.83yrno datano data
Daniel Zeidler
Executive VP & Head of Power Magnetics Division0.83yrno datano data
Martin Koeppel
Vice President of Quality Managemnetno datano datano data

1.7yrs

Average Tenure

51.5yo

Average Age

Experienced Management: SFRN's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Gerhard Pegam
Director 6.67yrsCHF82.00k0.059% CHF72.1k
Urs Kaufmann
Chairman of the Board2.67yrsCHF105.00k0.035% CHF43.2k
Philipp Buhofer
Vice Chairman2.67yrsCHF38.00kno data
Suzanne Thoma
Director 7.67yrsCHF82.00k0.12% CHF139.8k
Georg Wechsler
Director7.67yrsCHF84.00k0.15% CHF177.2k

6.7yrs

Average Tenure

57yo

Average Age

Experienced Board: SFRN's board of directors are considered experienced (6.7 years average tenure).


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

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


Key Information

  • Name: Schaffner Holding AG
  • Ticker: SFRN
  • Exchange: DB
  • Founded: 1962
  • Industry: Electronic Components
  • Sector: Tech
  • Market Cap: CHF131.857m
  • Listing Market Cap: CHF121.588m
  • Shares outstanding: 633.93k
  • Website: https://www.schaffner.com

Number of Employees


Location

  • Schaffner Holding AG
  • Nordstrasse 11
  • Luterbach
  • Solothurn
  • 4542
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SAHNSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFJun 1998
SFRNDB (Deutsche Boerse AG)YesRegistered SharesDEEURJun 1998
0QJYLSE (London Stock Exchange)YesRegistered SharesGBCHFJun 1998

Biography

Schaffner Holding AG, together with its subsidiaries, develops, manufactures, and sells solutions for power electronic systems worldwide. The company operates through three segments: Electromagnetic Compatibility (EMC), Power Magnetics, and Automotive. It offers EMC/EMI filters and chokes, including IEC inlet filters and power entry modules, single-phase filters, DC filters, 3-phase filters, 3-phase + neutral line filters, open frame filters, feedthrough components, PCB filters, and pulse transformers; power solutions comprising line and load reactors, Ecosine passive harmonic filters, Ecosine active harmonic filters, and output filters; and power magnetics, which include inductors, filters, and transformers. The company also provides automotive components, such as EMC/EMI filters, common mode chokes, inductors, and antennas. It primarily serves motor drives, machinery, mobility, renewables, power supply, and automotive markets. The company was founded in 1962 and is headquartered in Luterbach, Switzerland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/25 20:49
End of Day Share Price2019/06/28 00:00
Earnings2019/03/31
Annual Earnings2018/09/30


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.