CPSE:SOLAR B

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Executive Summary

Solar A/S operates as a sourcing and services company in electrical, heating and plumbing, ventilation, and climate and energy solutions in the Danish, Swedish, Norwegian, and Dutch markets. More Details


Snowflake Analysis

Excellent balance sheet established dividend payer.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: SOLAR B is not significantly more volatile than the rest of Danish stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: SOLAR B's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

-1.5%

SOLAR B

-0.9%

DK Trade Distributors

-2.1%

DK Market


1 Year Return

29.9%

SOLAR B

39.4%

DK Trade Distributors

23.6%

DK Market

Return vs Industry: SOLAR B underperformed the Danish Trade Distributors industry which returned 39.4% over the past year.

Return vs Market: SOLAR B exceeded the Danish Market which returned 23.9% over the past year.


Shareholder returns

SOLAR BIndustryMarket
7 Day-1.5%-0.9%-2.1%
30 Day17.8%15.7%2.8%
90 Day28.0%21.9%5.2%
1 Year38.3%29.9%45.2%39.4%26.0%23.6%
3 Year11.1%-2.5%22.1%11.5%52.4%40.5%
5 Year24.7%3.1%49.9%30.9%70.7%48.8%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

9.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SOLAR B (DKK397.5) is trading below our estimate of fair value (DKK439.81)

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


Price To Earnings Ratio

PE vs Industry: SOLAR B is good value based on its PE Ratio (9.5x) compared to the XE Trade Distributors industry average (21.4x).

PE vs Market: SOLAR B is good value based on its PE Ratio (9.5x) compared to the Danish market (17.3x).


Price to Earnings Growth Ratio

PEG Ratio: SOLAR B's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: SOLAR B's PB Ratio (1.7x) is in line with the DK Trade Distributors industry average.


Next Steps

Future Growth

How is Solar forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-6.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SOLAR B's earnings are forecast to decline over the next 3 years (-6.8% per year).

Earnings vs Market: SOLAR B's earnings are forecast to decline over the next 3 years (-6.8% per year).

High Growth Earnings: SOLAR B's earnings are forecast to decline over the next 3 years.

Revenue vs Market: SOLAR B's revenue (2.8% per year) is forecast to grow slower than the Danish market (6.8% per year).

High Growth Revenue: SOLAR B's revenue (2.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SOLAR B's Return on Equity is forecast to be low in 3 years time (15.5%).


Next Steps

Past Performance

How has Solar performed over the past 5 years?

8.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SOLAR B has a large one-off gain of DKK65.0M impacting its September 30 2020 financial results.

Growing Profit Margin: SOLAR B's current net profit margins (2.7%) are higher than last year (0.3%).


Past Earnings Growth Analysis

Earnings Trend: SOLAR B has become profitable over the past 5 years, growing earnings by 8.4% per year.

Accelerating Growth: SOLAR B's earnings growth over the past year (674.5%) exceeds its 5-year average (8.4% per year).

Earnings vs Industry: SOLAR B earnings growth over the past year (674.5%) exceeded the Trade Distributors industry -5%.


Return on Equity

High ROE: SOLAR B's Return on Equity (18.5%) is considered low.


Next Steps

Financial Health

How is Solar's financial position?


Financial Position Analysis

Short Term Liabilities: SOLAR B's short term assets (DKK3.2B) exceed its short term liabilities (DKK2.7B).

Long Term Liabilities: SOLAR B's short term assets (DKK3.2B) exceed its long term liabilities (DKK497.0M).


Debt to Equity History and Analysis

Debt Level: SOLAR B's debt to equity ratio (35.7%) is considered satisfactory.

Reducing Debt: SOLAR B's debt to equity ratio has increased from 29.9% to 35.7% over the past 5 years.

Debt Coverage: SOLAR B's debt is well covered by operating cash flow (114%).

Interest Coverage: SOLAR B's interest payments on its debt are well covered by EBIT (13x coverage).


Balance Sheet


Next Steps

Dividend

What is Solar current dividend yield, its reliability and sustainability?

3.52%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SOLAR B's dividend (3.52%) is higher than the bottom 25% of dividend payers in the Danish market (0.93%).

High Dividend: SOLAR B's dividend (3.52%) is in the top 25% of dividend payers in the Danish market (3.49%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (33.6%), SOLAR B's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SOLAR B's dividends in 3 years are forecast to be covered by earnings (86.1% payout ratio).


Next Steps

Management

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

3.3yrs

Average management tenure


CEO

Jens Andersen (52 yo)

3.25yrs

Tenure

Mr. Jens E. Andersen has been the Chief Executive Officer and Member of Executive Board at Solar A/S since October 8, 2017 and serves as its Managing Director of Denmark. Mr. Andersen served as Senior Vice...


Leadership Team

NamePositionTenureCompensationOwnership
Jens Andersen
CEO, MD of Denmark & Member of Executive Board3.25yrsno data0.061%
DKK 1.8m
Michael Jeppesen
CFO & Member of Executive Board10yrsno data0.026%
DKK 752.8k
Hugo Dorph
Chief Commercial Officer & Member of Executive Boardno datano datano data
Lars Goth
Senior Vice President of Group Operations1.08yrsno datano data
Charlotte Kræfting
Director of Stakeholder Relationsno datano datano data
Dariusz Targosz
Senior VP & MD of Polandno datano datano data
Jan Fjellvær
Senior VP & MD of Norwayno datano datano data
Anders Koppel
Senior VP & MD of Swedenno datano datano data
Bauke Zeinstra
Senior VP & MD of MAG454.92yrsno datano data
Ole Sørensen
Senior Vice President of Industry Sales3.33yrsno datano data
Peter Pedersen
Senior Vice President of Commercial Market3yrsno datano data
Michiel Rohrman
Senior VP & MD The Netherlands1yrno datano data

3.3yrs

Average Tenure

53yo

Average Age

Experienced Management: SOLAR B's management team is considered experienced (3.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Jens Borum
Chairmanno datano data1.62%
DKK 47.1m
Bent Frisk
Employee-Elected Director15yrsno data0.00082%
DKK 23.8k
Jens Toft
Independent Director12yrsno data0.017%
DKK 497.0k
Lars Andersen
Employee-Elected Member11yrsno data0.0013%
DKK 36.8k
Morten Chrone
Independent Director1.83yrsno data0.0056%
DKK 163.0k
Peter Bang
Independent Director3yrsno data0.0055%
DKK 159.0k
Jesper Jensen
Vice Chairman1.83yrsno data0.0069%
DKK 198.7k
Ulrik Damgaard
Employee-Elected Member7yrsno data0.00082%
DKK 23.8k
Sophie Knauer
Independent Director4yrsno data0.0052%
DKK 151.4k

5.5yrs

Average Tenure

52yo

Average Age

Experienced Board: SOLAR B's board of directors are considered experienced (5.5 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

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


Key Information

  • Name: Solar A/S
  • Ticker: SOLAR B
  • Exchange: CPSE
  • Founded: 1919
  • Industry: Trading Companies and Distributors
  • Sector: Capital Goods
  • Market Cap: kr.2.901b
  • Shares outstanding: 7.30m
  • Website: https://www.solar.eu

Number of Employees


Location

  • Solar A/S
  • Industrivej Vest 43
  • Vejen
  • Region of Southern Denmark
  • 6600
  • Denmark

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SOLAR BCPSE (OMX Nordic Exchange Copenhagen)YesClass B Shares DKK 100DKDKKJan 1992
ZVRDB (Deutsche Boerse AG)YesClass B Shares DKK 100DEEURJan 1992
0G33LSE (London Stock Exchange)YesClass B Shares DKK 100GBDKKJan 1992
SOLABCBATS-CHIXE (BATS 'Chi-X Europe')YesClass B Shares DKK 100GBDKKJan 1992

Biography

Solar A/S operates as a sourcing and services company in electrical, heating and plumbing, ventilation, and climate and energy solutions in the Danish, Swedish, Norwegian, and Dutch markets. The company of...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/16 18:08
End of Day Share Price2021/01/15 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.