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HPI

MUN:CEW3
Snowflake Description

Weak fundamentals or lack of information.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CEW3
MUN
€2M
Market Cap
  1. Home
  2. DE
  3. Tech
Company description

HPI AG provides industrial procurement services in Europe. The last earnings update was 1973 days ago. More info.


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CEW3 Share Price and Events
7 Day Returns
-0.5%
MUN:CEW3
3.4%
DE Electronic
2.5%
DE Market
1 Year Returns
-7%
MUN:CEW3
-1.9%
DE Electronic
-6.7%
DE Market
CEW3 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
HPI (CEW3) -0.5% 0% -5.6% -7% - -
DE Electronic 3.4% 4.8% 23% -1.9% 95% 89.5%
DE Market 2.5% 3.3% 9.2% -6.7% 9% 13.5%
1 Year Return vs Industry and Market
  • CEW3 underperformed the Electronic industry which returned -1.9% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

CEW3 Value

 Is HPI 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.

In this section, we usually try to help investors determine whether HPI is trading at an attractive price based on the cash flow it is expected to produce in the future. But as HPI has not provided consistent financial data, and the stock also has no analyst forecast or coverage, its intrinsic value cannot be reliably calculated by extrapolating past data or using analyst consensus cash flow predictions.

This is quite a rare situation as 89% of companies covered by Simply Wall St do have a valuation analysis. You can see them here.

Show me the analysis anyway

INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for HPI. This is due to cash flow or dividend data being unavailable. The share price is €0.186.
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 HPI's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are HPI's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
MUN:CEW3 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2012-12-31) in EUR Not available
MUN:CEW3 Share Price ** MUN (2019-04-18) in EUR €0.19
Germany Electronic Industry PE Ratio Median Figure of 14 Publicly-Listed Electronic Companies 21.3x
Germany Market PE Ratio Median Figure of 421 Publicly-Listed Companies 19.69x

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

** Primary Listing of HPI.

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

  • Unable to compare the PE ratio to the industry average as no data exists.
  • Unable to calculate PE ratio for HPI, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does HPI's expected growth come at a high price?
Raw Data
MUN:CEW3 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 0x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
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 1.58x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for HPI, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on HPI's assets?
Raw Data
MUN:CEW3 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2012-12-31) in EUR Not available
MUN:CEW3 Share Price * MUN (2019-04-18) in EUR €0.19
Germany Electronic Industry PB Ratio Median Figure of 20 Publicly-Listed Electronic Companies 2.49x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.87x

* Primary Listing of HPI.

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

  • Unable to compare the PB ratio to the industry average as no data exists.

Next steps:

  1. When valuing a company like this, investors focus more on how they perceive the size of the opportunity, the company's ability to deliver and scale, and the strength of the team. While we are not analysing this type of data at the moment, if you don’t know where to start, we recommend reading through HPI's regulatory filings and announcements.
  2. Show me more potentially undervalued companies in the Electronic industry
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Value checks
We assess HPI'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. HPI has a total score of 0/6, 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.

CEW3 Future Performance

 How is HPI expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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 HPI 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
12.9%
Expected Electronic industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is HPI expected to grow at an attractive rate?
  • Unable to compare HPI's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare HPI's earnings growth to the Germany market average as no estimate data is available.
  • Unable to compare HPI's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
MUN:CEW3 Future Growth Rates Data Sources
Data Point Source Value (per year)
Germany Electronic Industry Earnings Growth Rate Market Cap Weighted Average 12.9%
Germany Electronic Industry Revenue Growth Rate Market Cap Weighted Average 7.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.7%
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
MUN:CEW3 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 years ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
MUN:CEW3 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2012-12-31 115 0 -2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if HPI is high growth as no earnings estimate data is available.
  • Unable to determine if HPI is high growth as no revenue estimate data is available.
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
MUN:CEW3 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 years ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from HPI Company Filings, last reported 6 years ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MUN:CEW3 Past Financials Data
Date (Data in EUR Millions) EPS *
2012-12-31 -0.32

*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.
  • Unable to establish if HPI will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. HPI's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Tech companies here
  2. HPI's competitive advantages and company strategy can generally be found in its financial reports archived here.
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess HPI'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.
HPI has a total score of 0/6, 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.

CEW3 Past Performance

  How has HPI performed over the past 5 years?

In this section we usually display a company’s past earnings and revenues to help investors visualise the trend through time. We also gauge the company’s performance by benchmarking its returns and growth to its industry peers and the wider market. However, HPI has not provided sufficient past data to assess its track record.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have historical data. You can see them here.

Show me the analysis anyway

  • HPI's last earnings update was 1973 days ago.
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 HPI'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.
  • Insufficient past earnings data to establish if HPI's year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare HPI's 1-year growth to the 5-year average as past earnings data has not been reported.
  • Unable to compare HPI's 1-year growth to the DE Electronic industry average as past earnings data has not been reported.
Earnings and Revenue History
HPI'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 HPI Company Filings, last reported 6 years ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MUN:CEW3 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2012-12-31 115.50 -2.31 11.58

*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.
  • Unable to establish if HPI has efficiently used shareholders’ funds last year as no Return on Equity data is available.
  • Unable to establish if HPI has efficiently used its assets last year compared to the DE Electronic industry average (Return on Assets) as past financial data has not been reported.
  • Unable to establish if HPI improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.

Next steps:

  1. Past financial records are usually unavailable for companies that have just been established or recently publicly listed, which makes them inherently riskier. Take a look at a list of well-established companies here.
  2. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Past performance checks
We assess HPI'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.
HPI has a total score of 0/6, 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.

CEW3 Health

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

In this section we usually analyse HPI's finance health to determine how well-positioned it is against times of financial distress, in particular, its ability to manage its cash and debt levels. HPI has not provided adequate balance sheet data, its financial health cannot be properly assessed as it.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have financial information. You can see them here.

Show me the analysis anyway

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 HPI's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Unable to compare short term assets to short term liabilities as HPI has not reported sufficient balance sheet data.
  • Unable to establish if HPI's long term commitments exceed its cash and other short term assets as HPI has not reported sufficient balance sheet data.
Balance sheet
This treemap shows a more detailed breakdown of HPI'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.
  • Unable to establish if HPI has a high level of physical assets or inventory without balance sheet data.
  • Unable to verify if debt is covered by short term assets as HPI has not reported sufficient balance sheet data.
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 HPI Company Filings, last reported 6 years ago.

MUN:CEW3 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2012-12-31 7.61 7.84 3.53
  • Unable to establish if HPI's level of debt is high without past debt data.
  • Unable to establish if HPI's debt level has increased without past 5-year debt data.
  • Unable to verify if debt is well covered by operating cash flow as HPI has not reported sufficient balance sheet data.
  • Unable to confirm if the interest payments on HPI's debt are well covered by earnings due to lack of past financial data.

Next steps:

  1. Investors tend to look at the financial health of a company this size in order to assess the sustainability of its current operations. HPI's cash and debt levels may be found in its annual reports archived here.
  2. Financial health is measured at one point in time, so the latest financial report is the best representation of the company’s current financial status. Check when HPI's financial data was last updated here.
  3. Companies with strong financial health are considered a less risky investment. Discover these stocks here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Financial health checks
We assess HPI'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. HPI has a total score of 0/6, 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.

CEW3 Dividends

 What is HPI'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
0%
Current annual income from HPI dividends.
If you bought €2,000 of HPI shares you are expected to receive €0 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?
  • Unable to evaluate HPI's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate HPI's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
MUN:CEW3 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 0 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 324 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
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.

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

  • Unable to perform a dividend volatility check as HPI has not reported any payouts.
  • Unable to verify if HPI's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of HPI's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as HPI has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess HPI's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 HPI afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. HPI has a total score of 0/6, see the detailed checks below.


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

CEW3 Management

 What is the CEO of HPI'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
David Vincent
CEO Bio

Mr. David Nicholas Vincent is Chief Executive Officer at HPI AG since July 2017.

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

David Vincent

TITLE
Chief Executive Officer

Bernd Geißendörfer

TITLE
Group Divisional Head of Finances & Member of Management Board

Falk Raudies

TITLE
Chief Operating Officer

Gregory Hopkins

TITLE
Head of Computer Products Division

Stella Mönnich

TITLE
Assistant to the Chief Executive Officer
Board of Directors

Boris Dürr

TITLE
Chairman of the Supervisory Board
COMPENSATION
€18K
TENURE
7.8 yrs

Markus Bodenmeier

TITLE
Deputy Chairman of the Supervisory Board

Artur Jedrzejewski

TITLE
Member of the 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 HPI'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. HPI 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.

CEW3 News

Simply Wall St News

What You Must Know About HPI AG's (MUN:CEW3) Financial Strength

While small-cap stocks, such as HPI AG (MUN:CEW3) with its market cap of €1.54m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

How Financially Strong Is HPI AG (MUN:CEW3)?

With this rise in debt, the current cash and short-term investment levels stands at €3.53M for investing into the business. … Additionally, CEW3 has produced cash from operations of €258.00K over the same time period, resulting in an operating cash to total debt ratio of 3.29%, signalling that CEW3’s operating cash is not sufficient to cover its debt. … Running high debt, while not yet making money, can be risky in unexpected downturns as liquidity may dry up, making it hard to operate.Next Steps: At its current level of cash flow coverage, CEW3 has room for improvement to better cushion for events which may require debt repayment.

Simply Wall St -

CEW3 Company Info

Description

HPI AG provides industrial procurement services in Europe. The company operates through Production Engineering, Mechanical Engineering, Chemical & Pharmaceutical Raw Materials, Industrial Commodities and Consumables, and Electrical Engineering/Electronics segments. It offers short-term inventory management, warehousing, and logistics services. The company also provides electronic components, chemicals, pharmaceutical raw materials, and mechanical and electronic products to businesses. In addition, it offers customized services for IT and electronics comprising intelligent cabling systems, network and security solutions, server and storage systems, and Internet-based services, such as energy management, as well as cloud computing. The company was founded in 1976 and is headquartered in Munich, Germany.

Details
Name: HPI AG
CEW3
Exchange: MUN
Founded: 1976
€1,503,732
8,084,586
Website: http://www.hpi-ag.com
Address: HPI AG
Central Tower,
Landsberger Strasse 110,
Munich,
Bavaria, 80339,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
MUN CEW3 Bearer Shares Boerse Muenchen DE EUR 23. Jun 1998
Number of employees
Current staff
Staff numbers
0
HPI employees.
Industry
Technology Distributors
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 22:01
End of day share price update: 2019/04/18 00:00
Last earnings filing: 2013/11/22
Last earnings reported: 2012/12/31
Last annual earnings reported: 2012/12/31


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.