DB:VTZ

Stock Analysis Report

Executive Summary

SAF Tehnika A/S designs, develops, manufactures, and distributes digital microwave transmission equipment worldwide.


Snowflake Analysis

Flawless balance sheet and fair value.


Similar Companies

Share Price & News

How has SAF Tehnika's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: VTZ's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

6.1%

VTZ

10.8%

DE Communications

9.1%

DE Market


1 Year Return

-11.5%

VTZ

-36.6%

DE Communications

-13.1%

DE Market

Return vs Industry: VTZ exceeded the German Communications industry which returned -37.9% over the past year.

Return vs Market: VTZ exceeded the German Market which returned -14.3% over the past year.


Shareholder returns

VTZIndustryMarket
7 Day6.1%10.8%9.1%
30 Day-4.1%3.6%-1.0%
90 Day-23.2%-30.3%-20.7%
1 Year-11.5%-11.5%-36.3%-36.6%-10.6%-13.1%
3 Year-23.7%-30.5%-32.7%-32.9%-10.7%-18.1%
5 Year74.7%29.7%18.7%18.5%-10.7%-22.8%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

17.02x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: VTZ (€2.76) is trading below our estimate of fair value (€2.79)

Significantly Below Fair Value: VTZ is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: VTZ is poor value based on its PE Ratio (16.8x) compared to the Communications industry average (15.7x).

PE vs Market: VTZ is good value based on its PE Ratio (16.8x) compared to the German market (17.1x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate VTZ's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: VTZ is good value based on its PB Ratio (0.8x) compared to the DE Communications industry average (2.4x).


Next Steps

Future Growth

How is SAF Tehnika forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

30.8%

Forecasted Tech industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as SAF Tehnika has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has SAF Tehnika performed over the past 5 years?

-37.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: VTZ has high quality earnings.

Growing Profit Margin: VTZ became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: VTZ's earnings have declined by -37.6% per year over the past 5 years.

Accelerating Growth: VTZ has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: VTZ has become profitable in the last year, making it difficult to compare its past year earnings growth to the Communications industry (21.9%).


Return on Equity

High ROE: VTZ's Return on Equity (5.3%) is considered low.


Next Steps

Financial Health

How is SAF Tehnika's financial position?


Financial Position Analysis

Short Term Liabilities: VTZ's short term assets (€12.2M) exceed its short term liabilities (€3.1M).

Long Term Liabilities: VTZ's short term assets (€12.2M) exceed its long term liabilities (€1.3M).


Debt to Equity History and Analysis

Debt Level: VTZ's debt to equity ratio (0.01%) is considered satisfactory.

Reducing Debt: VTZ's debt to equity ratio has reduced from 0.04% to 0.01% over the past 5 years.

Debt Coverage: VTZ's debt is well covered by operating cash flow (182089.9%).

Interest Coverage: VTZ earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

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


Dividend Yield vs Market

Notable Dividend: Unable to evaluate VTZ's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate VTZ's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if VTZ's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if VTZ's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: VTZ is not paying a notable dividend for the German market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of VTZ's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

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

14.3yrs

Average management tenure


CEO

Normunds Bergs (56yo)

20.25s

Tenure

Mr. Normunds Bergs serves as the Chairman of Management Board of SAF Tehnika and has been its Chief Executive Officer since 2000. Mr. Bergs serves as the Chairman of Management Board and Chief Executive O ...


Leadership Team

NamePositionTenureCompensationOwnership
Juris Ziema
Co-Founderno datano data8.71% 765.8k
Normunds Bergs
Chairman of Management Board & CEO20.25yrsno data9.74% 856.3k
Andrejs Grišans
Co-Founderno datano data10.03% 881.8k
Vents Lacars
Co-Founder & VP of Business Development14.25yrsno datano data
Didzis Liepkalns
Co-Founder21.25yrsno data17.05% 1.5m
Zane Jozepa
CFO & Member of Management Board4.92yrsno datano data
Janis Bergs
VP of Sales & Marketing and Member of Management Board5yrsno datano data
Dace Langada
Chief Accountantno datano datano data

14.3yrs

Average Tenure

55yo

Average Age

Experienced Management: VTZ's management team is seasoned and experienced (14.3 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 been diluted in the past year, with total shares outstanding growing by 9.3%.


Top Shareholders

Company Information

SAF Tehnika A/S's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: SAF Tehnika A/S
  • Ticker: VTZ
  • Exchange: DB
  • Founded: 1999
  • Industry: Communications Equipment
  • Sector: Tech
  • Market Cap: €8.792m
  • Shares outstanding: 2.97m
  • Website: https://www.saftehnika.com

Number of Employees


Location

  • SAF Tehnika A/S
  • Ganibu dambis 24a
  • Riga
  • 1005
  • Latvia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SAF1RRISE (OMX Nordic Exchange Riga)YesOrdinary Bearer SharesLVEURJun 2004
0J4TLSE (London Stock Exchange)YesOrdinary Bearer SharesGBEURJun 2004
VTZDB (Deutsche Boerse AG)YesOrdinary Bearer SharesDEEURJun 2004

Biography

SAF Tehnika A/S designs, develops, manufactures, and distributes digital microwave transmission equipment worldwide. The company provides wireless backhaul solutions for digital voice and data transmission to fixed and mobile network operators, and data service providers in the public and private sectors. Its products include CFIP radios; FreeMile 17/24, an outdoor hybrid radio system that is used in unlicensed frequency bands, as well as provides Ethernet/E1 interfaces for user traffic; Integra, a radio system; and Spectrum Compact, a measurement tool for field engineers for telecom, broadcasting, and other industries using radio technologies. The company also sells antennas, cables, OEM products, and various accessories purchased from other suppliers. The company was founded in 1999 and is headquartered in Riga, Latvia. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/09 22:54
End of Day Share Price2020/04/09 00:00
Earnings2019/12/31
Annual Earnings2019/06/30


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.