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Romande Energie Holding

DB:CVNA
Snowflake Description

Excellent balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CVNA
DB
CHF1B
Market Cap
  1. Home
  2. DE
  3. Utilities
Company description

Romande Energie Holding SA engages in the generation, distribution, and marketing of electricity in Switzerland. The last earnings update was 12 days ago. More info.


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CVNA Share Price and Events
7 Day Returns
-1%
DB:CVNA
0.5%
Europe Electric Utilities
1%
DE Market
1 Year Returns
3.5%
DB:CVNA
11.6%
Europe Electric Utilities
-5.6%
DE Market
CVNA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Romande Energie Holding (CVNA) -1% -1% 2% 3.5% 7.7% 5.9%
Europe Electric Utilities 0.5% -1% 2.5% 11.6% 23.8% 0.7%
DE Market 1% 6.1% 8.4% -5.6% 10.9% 13.8%
1 Year Return vs Industry and Market
  • CVNA underperformed the Electric Utilities industry which returned 11.6% over the past year.
  • CVNA outperformed the Market in Germany which returned -5.6% over the past year.
Price Volatility
CVNA
Industry
5yr Volatility vs Market

Value

 Is Romande Energie Holding 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 Romande Energie Holding 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 Romande Energie Holding.

DB:CVNA 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 5%
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:CVNA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Electric Utilities Unlevered Beta Simply Wall St/ S&P Global 0.24
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.242 (1 + (1- 18%) (9.38%))
0.504
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.8 * 5.96%)
5%

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

The calculations below outline how an intrinsic value for Romande Energie Holding 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:CVNA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CHF, Millions) Source Present Value
Discounted (@ 5%)
2019 61.02 Analyst x1 58.11
2020 56.32 Analyst x1 51.09
2021 62.52 Analyst x1 54.01
2022 68.65 Analyst x1 56.49
2023 76.32 Analyst x1 59.81
2024 81.74 Est @ 7.09% 61.01
2025 85.85 Est @ 5.03% 61.03
2026 88.94 Est @ 3.59% 60.21
2027 91.23 Est @ 2.58% 58.83
2028 92.95 Est @ 1.88% 57.08
Present value of next 10 years cash flows CHF577.68
DB:CVNA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CHF92.95 × (1 + 0.23%) ÷ (5% – 0.23%)
CHF1,953.81
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CHF1,953.81 ÷ (1 + 5%)10
CHF1,199.92
DB:CVNA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CHF577.68 + CHF1,199.92
CHF1,777.60
Equity Value per Share
(CHF)
= Total value / Shares Outstanding
= CHF1,777.60 / 1.03
CHF1723.72
DB:CVNA Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:CVNA represents 0.86324x of SWX:HREN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.86324x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (CHF) x Listing Adjustment Factor
= CHF 1,723.72 x 0.86324
€1,487.99
Value per share (EUR) From above. €1,487.99
Current discount Discount to share price of €1,010.00
= -1 x (€1,010.00 - €1,487.99) / €1,487.99
32.1%

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

Current Discount
Amount off the current price Romande Energie Holding is available for.
Intrinsic value
32%
Share price is €1010 vs Future cash flow value of €1487.99
Current Discount Checks
For Romande Energie Holding to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Romande Energie Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Romande Energie Holding'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 Romande Energie Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Romande Energie Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:CVNA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CHF CHF47.62
SWX:HREN Share Price ** SWX (2019-04-24) in CHF CHF1170
Europe Electric Utilities Industry PE Ratio Median Figure of 65 Publicly-Listed Electric Utilities Companies 12.2x
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 Romande Energie Holding.

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

= SWX:HREN Share Price ÷ EPS (both in CHF)

= 1170 ÷ 47.62

24.57x

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

  • Romande Energie Holding is overvalued based on earnings compared to the Europe Electric Utilities industry average.
  • Romande Energie Holding is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Romande Energie Holding's expected growth come at a high price?
Raw Data
DB:CVNA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 24.57x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
21.6%per year
Europe Electric Utilities Industry PEG Ratio Median Figure of 31 Publicly-Listed Electric Utilities Companies 0.73x
Germany Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 24.57x ÷ 21.6%

1.14x

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

  • Romande Energie Holding is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Romande Energie Holding's assets?
Raw Data
DB:CVNA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CHF CHF1,776.18
SWX:HREN Share Price * SWX (2019-04-24) in CHF CHF1170
Europe Electric Utilities Industry PB Ratio Median Figure of 74 Publicly-Listed Electric Utilities Companies 0.95x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.87x
DB:CVNA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SWX:HREN Share Price ÷ Book Value per Share (both in CHF)

= 1170 ÷ 1,776.18

0.66x

* Primary Listing of Romande Energie Holding.

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

  • Romande Energie Holding is good value based on assets compared to the Europe Electric Utilities industry average.
X
Value checks
We assess Romande Energie Holding'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 Electric Utilities 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 Electric Utilities industry average (and greater than 0)? (1 check)
  5. Romande Energie Holding has a total score of 2/6, 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 Romande Energie Holding 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
21.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Romande Energie Holding expected to grow at an attractive rate?
  • Romande Energie Holding's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Romande Energie Holding's earnings growth is expected to exceed the Germany market average.
  • Romande Energie Holding'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:CVNA Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:CVNA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 21.6%
DB:CVNA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts -4.3%
Europe Electric Utilities Industry Earnings Growth Rate Market Cap Weighted Average 10.1%
Europe Electric Utilities Industry Revenue Growth Rate Market Cap Weighted Average 3.4%
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:CVNA 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 CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:CVNA Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 518 151 96 1
2020-12-31 509 142 87 1
2019-12-31 499 132 67 1
DB:CVNA Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2018-12-31 597 101 49
2018-09-30 593 119 78
2018-06-30 588 138 112
2018-03-31 581 103 114
2017-12-31 574 69 111
2017-09-30 577 61 96
2017-06-30 584 53 87
2017-03-31 593 84 98
2016-12-31 598 116 106
2016-09-30 597 113 106
2016-06-30 593 109 104
2016-03-31 591 123 49

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Romande Energie Holding's earnings are expected to grow significantly at over 20% yearly.
  • Romande Energie Holding'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:CVNA 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 Romande Energie Holding Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:CVNA Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 93.43 93.43 93.43 1.00
2020-12-31 83.97 83.97 83.97 1.00
2019-12-31 65.03 65.03 65.03 1.00
DB:CVNA Past Financials Data
Date (Data in CHF Millions) EPS *
2018-12-31 47.62
2018-09-30 76.06
2018-06-30 108.83
2018-03-31 110.19
2017-12-31 107.20
2017-09-30 93.04
2017-06-30 84.54
2017-03-31 94.92
2016-12-31 102.47
2016-09-30 103.24
2016-06-30 101.18
2016-03-31 47.87

*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.
  • Romande Energie Holding is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Romande Energie Holding'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Romande Energie Holding has a total score of 3/6, 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 Romande Energie Holding 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 Romande Energie Holding's growth in the last year to its industry (Electric Utilities).
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.
  • Romande Energie Holding has delivered over 20% year on year earnings growth in the past 5 years.
  • Romande Energie Holding's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Romande Energie Holding's 1-year earnings growth is negative, it can't be compared to the Europe Electric Utilities industry average.
Earnings and Revenue History
Romande Energie Holding'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 Romande Energie Holding Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:CVNA Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 597.31 49.11 110.17
2018-09-30 592.76 78.43 107.26
2018-06-30 588.21 112.24 104.35
2018-03-31 581.14 113.63 102.49
2017-12-31 574.07 110.55 100.64
2017-09-30 576.86 95.94 87.57
2017-06-30 584.32 87.18 98.49
2017-03-31 592.53 97.89 97.18
2016-12-31 598.42 105.68 83.87
2016-09-30 596.94 106.44 94.43
2016-06-30 593.13 104.28 93.00
2016-03-31 590.90 49.28 93.19
2015-12-31 588.68 -5.72 93.37
2015-09-30 586.88 -129.13 93.02
2015-06-30 585.08 -252.54 92.67
2015-03-31 583.56 -202.60 91.28
2014-12-31 582.05 -152.67 89.88
2014-09-30 579.10 -48.87 90.64
2014-06-30 576.16 54.93 91.39
2014-03-31 575.72 59.61 91.36
2013-12-31 575.28 64.30 91.32
2013-09-30 575.89 -103.76 90.27
2013-06-30 576.49 -271.82 89.22
2013-03-31 578.66 -277.20 89.13
2012-12-31 580.82 -282.58 89.03
2012-09-30 583.56 -253.98 87.17
2012-06-30 586.31 -225.37 85.30

*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.
  • Romande Energie Holding has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Romande Energie Holding used its assets less efficiently than the Europe Electric Utilities industry average last year based on Return on Assets.
  • Romande Energie Holding's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Romande Energie Holding'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 Electric Utilities 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.
Romande Energie Holding 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 Romande Energie Holding'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 Romande Energie Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Romande Energie Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Romande Energie Holding's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Romande Energie Holding'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 4.3x 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 Romande Energie Holding Company Filings, last reported 3 months ago.

DB:CVNA Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,860.82 113.17 299.89
2018-09-30 1,860.82 113.17 299.89
2018-06-30 1,871.29 115.24 410.63
2018-03-31 1,871.29 115.24 410.63
2017-12-31 1,850.12 108.12 353.28
2017-09-30 1,850.12 108.12 353.28
2017-06-30 1,738.23 104.64 370.14
2017-03-31 1,738.23 104.64 370.14
2016-12-31 1,708.82 104.77 447.19
2016-09-30 1,720.86 104.77 404.19
2016-06-30
2016-03-31 1,669.79 116.03 432.90
2015-12-31 1,669.79 116.03 432.90
2015-09-30 1,669.79 116.03 432.48
2015-06-30 1,614.85 116.16 431.37
2015-03-31 1,614.85 116.16 431.37
2014-12-31 1,752.56 116.29 421.04
2014-09-30 1,752.56 116.29 421.04
2014-06-30 1,987.56 115.43 416.47
2014-03-31 1,987.56 115.43 416.47
2013-12-31 1,985.22 115.56 427.04
2013-09-30 1,985.22 115.56 427.04
2013-06-30 1,923.89 115.69 417.97
2013-03-31 1,923.89 115.69 417.97
2012-12-31 1,973.64 115.82 472.25
2012-09-30 1,973.64 115.82 472.25
2012-06-30 2,360.58 116.01 431.94
  • Romande Energie Holding's level of debt (6.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (5.8% vs 6.1% today).
  • Debt is well covered by operating cash flow (89.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 42.7x coverage).
X
Financial health checks
We assess Romande Energie Holding'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. Romande Energie Holding 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 Romande Energie Holding'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
3.08%
Current annual income from Romande Energie Holding dividends. Estimated to be 3.33% next year.
If you bought €2,000 of Romande Energie Holding shares you are expected to receive €62 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?
  • Romande Energie Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • Romande Energie Holding's dividend is below the markets top 25% of dividend payers in Germany (3.7%).
Upcoming dividend payment

Purchase Romande Energie Holding before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:CVNA 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
Europe Electric Utilities Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 4.6%
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:CVNA Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 39.00 1.00
2020-12-31 39.00 1.00
2019-12-31 39.00 1.00
DB:CVNA Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2019-04-12 36.000 3.089
2018-04-13 36.000 3.052
2017-04-07 36.000 2.919
2016-04-11 33.000 2.890
2015-03-30 30.000 3.032
2014-03-31 30.000 2.793
2013-03-25 27.000 2.466
2012-03-28 25.000 2.225
2012-03-26 25.000 2.037
2011-03-01 25.000 1.822
2010-01-04 22.000 1.316

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

  • Whilst dividend payments have been stable, Romande Energie Holding has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Romande Energie Holding only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Romande Energie Holding's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
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 Romande Energie Holding'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 Romande Energie Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Romande Energie Holding has a total score of 2/6, 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 Romande Energie Holding'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
Pierre-Alain Urech
COMPENSATION CHF885,383
AGE 63
TENURE AS CEO 14.8 years
CEO Bio

Mr. Pierre-Alain Urech has been the Chief Executive Officer and Member of Executive Board of Romande Energie Holding SA since July 1, 2004. He joined Romande Energie Holding SA in July 1, 2004. Mr. Urech started his career working for the Swiss Federal Railways (CFF). After exercising management and executive roles at various strata of CFF, he was put in charge of the Rail 2000 project and headed the CFF area management in Lausanne. He became a member of the management board in Bern in 1995 and was appointed deputy chief executive officer of CFF SA in 1999. He ran the infrastructure division for nine years, with overall responsibility for the energy sector and power plants and was chairman or board member of numerous companies associated with CFF, the electricity business in Switzerland and railway operators in Europe. In July 1, 2004, Mr. Urech joined Romande Energie Group, which he has led since that date. He serves as the Chairman of the Board of Directors at FMHL SA (Forces Motrices Hongrin-Léman SA (Château d'Oex)), FGB SA (Forces Motrices Gd. St.Bernard SA), CTV SA (Centrale thermique de Chavalon), FMA SA (Forces Motrices de lâ Avançon SA), and Romande Energie Commerce SA. He serves as Vice Chairman of the Board of Directors at Dransenergie SA. He has been a Director of Swiss Federal Railways SBB since May 28, 2015. He serves as Board Member of HYDRO Exploitation SA (Sion) and DransEnergie SA (Orsières). He serves as a Director of TVG SA (Télé Villars-Gryon SA), regioGrid and railCare AG (Härkingen). He is on Committee at regioGrid, the federation of cantonal and regional power suppliers and the Vaud canton economic council and energy commission. Mr. Urech holds Degree in Civil Engineering from ETH Zurich.

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

Average tenure and age of the Romande Energie Holding management team in years:

5.8
Average Tenure
53.5
Average Age
  • The average tenure for the Romande Energie Holding management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Pierre-Alain Urech

TITLE
CEO & Member of Executive Board
COMPENSATION
CHF885K
AGE
63
TENURE
14.8 yrs

Denis Matthey

TITLE
CFO, Deputy CEO & Member of Executive Board
AGE
60

Philippe Durr

TITLE
Head of Romande Energie Commerce SA & Member of Executive Board
AGE
54
TENURE
6.3 yrs

Christian Frère

TITLE
Head of Energy Business Unit & Member of Executive Board
AGE
59
TENURE
7.3 yrs

Patrick Bertschy

TITLE
Head of Networks business unit & Member of Executive Board
AGE
50
TENURE
5.3 yrs

Jean-Daniel Habegger

TITLE
Head of Human Resources & Member of Executive Board
AGE
53
TENURE
7.3 yrs

Oliviero Iubatti

TITLE
Head of Romande Energie Services SA & Member of Executive Board
AGE
46
TENURE
3.3 yrs

Michèle Cassani

TITLE
Head of Corporate Communications
TENURE
1.6 yrs

René Lauckner

TITLE
Treasurer

Daniel Hammer

TITLE
Corporate Secretary
AGE
48
TENURE
1.8 yrs
Board of Directors Tenure

Average tenure and age of the Romande Energie Holding board of directors in years:

11.3
Average Tenure
59.5
Average Age
  • The average tenure for the Romande Energie Holding board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Guy Mustaki

TITLE
Chairman of the Board
COMPENSATION
CHF133K
AGE
58

Wolfgang Martz

TITLE
Vice Chairman
COMPENSATION
CHF60K
AGE
64

Budry Christian

TITLE
Director
COMPENSATION
CHF55K
AGE
61
TENURE
16.3 yrs

Jean-Jacques Miauton

TITLE
Director
COMPENSATION
CHF65K
AGE
67
TENURE
22.3 yrs

Grobéty Bernard

TITLE
Director
COMPENSATION
CHF62K
AGE
68
TENURE
17.3 yrs

Jean-Yves Pidoux

TITLE
Director
COMPENSATION
CHF43K
AGE
62
TENURE
12.3 yrs

Paola Ghillani

TITLE
Director
COMPENSATION
CHF51K
AGE
55
TENURE
10.3 yrs

Veuthey Alphonse-Marie

TITLE
Director
COMPENSATION
CHF86K
AGE
53
TENURE
8.3 yrs

Balsiger Laurent

TITLE
Director
COMPENSATION
CHF44K
AGE
48
TENURE
6.3 yrs

Elina Leimgruber

TITLE
Director
COMPENSATION
CHF24K
AGE
50
TENURE
2.3 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 Romande Energie Holding'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. Romande Energie Holding 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

Romande Energie Holding SA engages in the generation, distribution, and marketing of electricity in Switzerland. It operates through Marketing, Networks, Energy, and Energy Services segments. The company generates its electricity through hydropower, solar, wind, and biomass plants. It also owns and manages distribution grids and natural-gas distribution pipelines; manages energy portfolios; designs and installs heat pumps, thermal solar, and PV solutions, as well as district heating, ventilation, air-conditioning, home automation, telecommunications, and IT solutions; and installs heating, ventilation, air-conditioning, and gas solutions, as well as plumbing and paneling solutions. The company operates 7 district heating plants; 45 transmission stations, approximately 3,100 substations, and 10,000 km of power lines; and 600 kilometers of fiber optic cables. In addition, the company provides invoicing, call-center, and energy audit services; energy systems, including heat pumps, solar thermal energy, and solar photovoltaic energy services; lighting systems, such as public lighting and illumination services; and thermal systems solutions, as well as advisory services. Romande Energie Holding SA was founded in 1901 and is headquartered in Morges, Switzerland.

Details
Name: Romande Energie Holding SA
CVNA
Exchange: DB
Founded: 1901
CHF1,058,180,259
1,031,260
Website: http://www.romande-energie.ch
Address: Romande Energie Holding SA
Rue de Lausanne 53,
Morges,
Vaud, 1110,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX HREN Bearer Shares SIX Swiss Exchange CH CHF 08. Sep 1992
DB CVNA Bearer Shares Deutsche Boerse AG DE EUR 08. Sep 1992
LSE 0QQG Bearer Shares London Stock Exchange GB CHF 08. Sep 1992
BATS-CHIXE HRENZ Bearer Shares BATS 'Chi-X Europe' GB CHF 08. Sep 1992
Number of employees
Current staff
Staff numbers
849
Romande Energie Holding employees.
Industry
Electric Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 21:12
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2019/04/16
Last earnings filing: 2019/04/12
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.