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AOJ

Brødrene A & O Johansen CPSE:AOJ B Stock Report

Last Price

kr.70.94

Market Cap

kr.1.6b

7D

5.3%

1Y

-29.4%

Updated

05 Oct, 2022

Data

Company Financials
AOJ B fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance4/6
Financial Health4/6
Dividends2/6

AOJ B Stock Overview

Brødrene A & O Johansen A/S, together with its subsidiaries, sells and distributes technical installation materials and tools in Denmark, Sweden, and Norway.

Brødrene A & O Johansen Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Brødrene A & O Johansen
Historical stock prices
Current Share Pricekr.70.94
52 Week Highkr.137.50
52 Week Lowkr.65.00
Beta1.05
1 Month Change-8.55%
3 Month Change-0.22%
1 Year Change-29.41%
3 Year Change134.13%
5 Year Change67.31%
Change since IPO3,161.61%

Recent News & Updates

Shareholder Returns

AOJ BDK Trade DistributorsDK Market
7D5.3%1.5%3.5%
1Y-29.4%-16.6%-8.3%

Return vs Industry: AOJ B underperformed the Danish Trade Distributors industry which returned -16.6% over the past year.

Return vs Market: AOJ B underperformed the Danish Market which returned -8.3% over the past year.

Price Volatility

Is AOJ B's price volatile compared to industry and market?
AOJ B volatility
AOJ B Average Weekly Movement5.8%
Trade Distributors Industry Average Movement5.3%
Market Average Movement5.5%
10% most volatile stocks in DK Market10.5%
10% least volatile stocks in DK Market3.0%

Stable Share Price: AOJ B is not significantly more volatile than the rest of Danish stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: AOJ B's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1914795Niels Johansenhttps://www.ao.dk

Brødrene A & O Johansen A/S, together with its subsidiaries, sells and distributes technical installation materials and tools in Denmark, Sweden, and Norway. It operates through two segments, Professional B2B and Private B2C. The company offers plumbing, heating, and sanitary ware products; electrical equipment and components; and water supply and drainage products and tools.

Brødrene A & O Johansen Fundamentals Summary

How do Brødrene A & O Johansen's earnings and revenue compare to its market cap?
AOJ B fundamental statistics
Market Capkr.1.57b
Earnings (TTM)kr.265.36m
Revenue (TTM)kr.4.95b

5.9x

P/E Ratio

0.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
AOJ B income statement (TTM)
Revenuekr.4.95b
Cost of Revenuekr.3.78b
Gross Profitkr.1.17b
Other Expenseskr.908.64m
Earningskr.265.36m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Oct 28, 2022

Earnings per share (EPS)12.01
Gross Margin23.71%
Net Profit Margin5.36%
Debt/Equity Ratio48.7%

How did AOJ B perform over the long term?

See historical performance and comparison

Dividends

6.3%

Current Dividend Yield

46%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is AOJ B undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AOJ B?

Other financial metrics that can be useful for relative valuation.

AOJ B key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.5x
Enterprise Value/EBITDA5.8x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does AOJ B's PE Ratio compare to its peers?

AOJ B PE Ratio vs Peers
The above table shows the PE ratio for AOJ B vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average10.8x
SANI Sanistål
14.2xn/akr.993.9m
6.2x-3.1%kr.3.7b
KLEE B Brd. Klee
13.9xn/akr.205.2m
8.9xn/akr.132.6m
AOJ B Brødrene A & O Johansen
5.9xn/akr.1.6b

Price-To-Earnings vs Peers: AOJ B is good value based on its Price-To-Earnings Ratio (5.9x) compared to the peer average (10.8x).


Price to Earnings Ratio vs Industry

How does AOJ B's PE Ratio compare vs other companies in the European Trade Distributors Industry?

Price-To-Earnings vs Industry: AOJ B is good value based on its Price-To-Earnings Ratio (5.9x) compared to the European Trade Distributors industry average (11.5x)


Price to Earnings Ratio vs Fair Ratio

What is AOJ B's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AOJ B PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio5.9x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate AOJ B's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of AOJ B when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AOJ B (DKK70.94) is trading below our estimate of fair value (DKK72.72)

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


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Brødrene A & O Johansen forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


3.2%

Forecasted Capital Goods 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 Brødrene A & O Johansen 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.


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  • Examine whether Brødrene A & O Johansen is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  • Brødrene A & O Johansen competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Brødrene A & O Johansen performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


20.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: AOJ B has a high level of non-cash earnings.

Growing Profit Margin: AOJ B's current net profit margins (5.4%) are higher than last year (4.8%).


Past Earnings Growth Analysis

Earnings Trend: AOJ B's earnings have grown significantly by 20.3% per year over the past 5 years.

Accelerating Growth: AOJ B's earnings growth over the past year (21.7%) exceeds its 5-year average (20.3% per year).

Earnings vs Industry: AOJ B earnings growth over the past year (21.7%) underperformed the Trade Distributors industry 44%.


Return on Equity

High ROE: AOJ B's Return on Equity (21.1%) is considered high.


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Financial Health

How is Brødrene A & O Johansen's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: AOJ B's short term assets (DKK1.5B) do not cover its short term liabilities (DKK1.6B).

Long Term Liabilities: AOJ B's short term assets (DKK1.5B) exceed its long term liabilities (DKK367.2M).


Debt to Equity History and Analysis

Debt Level: AOJ B's net debt to equity ratio (48.6%) is considered high.

Reducing Debt: AOJ B's debt to equity ratio has reduced from 123.3% to 48.7% over the past 5 years.

Debt Coverage: AOJ B's debt is well covered by operating cash flow (22.7%).

Interest Coverage: AOJ B's interest payments on its debt are well covered by EBIT (69.7x coverage).


Balance Sheet


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Dividend

What is Brødrene A & O Johansen current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


6.34%

Current Dividend Yield

Dividend Yield vs Market

Brødrene A & O Johansen Dividend Yield vs Market
How does Brødrene A & O Johansen dividend yield compare to the market?
SegmentDividend Yield
Company (Brødrene A & O Johansen)6.3%
Market Bottom 25% (DK)1.7%
Market Top 25% (DK)6.7%
Industry Average (Trade Distributors)2.3%
Analyst forecast in 3 Years (Brødrene A & O Johansen)n/a

Notable Dividend: AOJ B's dividend (6.34%) is higher than the bottom 25% of dividend payers in the Danish market (1.68%).

High Dividend: AOJ B's dividend (6.34%) is low compared to the top 25% of dividend payers in the Danish market (6.65%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, AOJ B has been paying a dividend for less than 10 years.

Growing Dividend: AOJ B's dividend payments have increased, but the company has only paid a dividend for 6 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (46.2%), AOJ B's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: AOJ B is paying a dividend but the company has no free cash flows.


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Management

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

0.8yrs

Average management tenure


CEO

Niels Johansen (83 yo)

43.75yrs

Tenure

Mr. Niels A. Johansen serves as the Chief Executive Officer and member of the Executive Board of Brodrene A & O Johansen AS. Mr. Johansen has Long-time managerial experience as Chief Executive Officer. He...


Leadership Team

Experienced Management: AOJ B's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.


Board Members

Experienced Board: AOJ B's board of directors are seasoned and experienced ( 16.2 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

What is the ownership structure of AOJ B?
Owner TypeNumber of SharesOwnership Percentage
Private Companies788,4703.6%
Institutions3,019,09213.7%
Individual Insiders3,148,11014.2%
General Public15,144,42868.5%

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.2%.


Top Shareholders

Top 22 shareholders own 31.47% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
12.25%
Niels Johansen
2,708,000DKK192.1m0%no data
5.1%
Bi Asset Management FondsmÆGlerselskab A/S
1,126,962DKK79.9m-3.92%0.2%
3.49%
Avenir Invest ApS
770,200DKK54.6m0%no data
3.25%
Handelsbanken Asset Management
718,150DKK50.9m0%0.01%
1.67%
LOYS AG
369,110DKK26.2m64.05%0.46%
1.36%
Lili Johansen
301,010DKK21.4m0%no data
1.16%
Segall Bryant & Hamill, LLC
255,500DKK18.1m-9.07%0.03%
0.86%
Gudme Raaschou Asset Management
190,000DKK13.5m18.75%0.63%
0.64%
Value Square NV
141,320DKK10.0m0%0.48%
0.48%
Michael Kjær
105,000DKK7.4m0%no data
0.36%
Raymond James Asset Management International, S.A.
80,000DKK5.7m0%0.3%
0.28%
Nordea Investment Management AB
61,980DKK4.4m-70.7%no data
0.19%
Knoesel & Ronge VermÖGensverwaltung Gmbh & Co. Kg
41,000DKK2.9m0%0.46%
0.11%
Henning Dyremose
24,000DKK1.7m0%no data
0.079%
Elly Dyremose Aps, Asset Management Arm
17,500DKK1.2m0%no data
0.052%
FCG Fonder AB
11,500DKK815.8k0%0.06%
0.045%
Cd Invest, Virum Aps
10,000DKK709.4k0%no data
0.043%
Carsten Jensen
9,400DKK666.8k0%no data
0.037%
Hce Invest, Virum Aps
8,270DKK586.7k0%no data
0.027%
PP Capital Asset Management A/S
6,070DKK430.6k0%0.47%
0.0023%
René Alberg
500DKK35.5k0%no data
0.0009%
Jonas Kvist
200DKK14.2k0%no data

Company Information

Brødrene A & O Johansen A/S's employee growth, exchange listings and data sources


Key Information

  • Name: Brødrene A & O Johansen A/S
  • Ticker: AOJ B
  • Exchange: CPSE
  • Founded: 1914
  • Industry: Trading Companies and Distributors
  • Sector: Capital Goods
  • Implied Market Cap: kr.1.568b
  • Shares outstanding: 22.10m
  • Website: https://www.ao.dk

Number of Employees


Location

  • Brødrene A & O Johansen A/S
  • ROervang 3
  • Albertslund
  • Capital Region of Denmark
  • 2620
  • Denmark


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AOJ BCPSE (OMX Nordic Exchange Copenhagen)YesPreferred SharesDKDKKJul 1992
0RNTLSE (London Stock Exchange)YesPreferred SharesGBDKKJul 1992
AOJBCBATS-CHIXE (BATS 'Chi-X Europe')YesPreferred SharesGBDKKJul 1992
XH0DB (Deutsche Boerse AG)YesPreferred SharesDEEURJul 1992

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/05 00:00
End of Day Share Price2022/10/05 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.