company background image
BO

Bang & OlufsenCPSE:BO Stock Report

Market Cap

kr.3.4b

7D

-8.5%

1Y

18.2%

Updated

02 Dec, 2021

Data

Company Financials +
BO fundamental analysis
Snowflake Score
Valuation2/6
Future Growth4/6
Past Performance2/6
Financial Health5/6
Dividends0/6

BO Stock Overview

Bang & Olufsen a/s designs, develops, and markets audio and video products.

Bang & Olufsen Competitors

Apple

NasdaqGS:AAPL

US$2.7t

Amazon.com

NasdaqGS:AMZN

US$1.7t

Samsung Electronics

KOSE:A005930

₩509.7t

Alibaba Group Holding

NYSE:BABA

US$332.1b

Price History & Performance

Summary of all time highs, changes and price drops for Bang & Olufsen
Historical stock prices
Current Share Pricekr.27.80
52 Week Highkr.41.98
52 Week Lowkr.23.00
Beta1.35
1 Month Change-12.74%
3 Month Change-19.65%
1 Year Change18.20%
3 Year Change-79.91%
5 Year Change-64.59%
Change since IPO-10.44%

Recent News & Updates

Oct 13
Statutory Profit Doesn't Reflect How Good Bang & Olufsen's (CPH:BO) Earnings Are

Statutory Profit Doesn't Reflect How Good Bang & Olufsen's (CPH:BO) Earnings Are

The subdued stock price reaction suggests that Bang & Olufsen a/s' ( CPH:BO ) strong earnings didn't offer any...

Sep 15
Does Bang & Olufsen (CPH:BO) Have A Healthy Balance Sheet?

Does Bang & Olufsen (CPH:BO) Have A Healthy Balance Sheet?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

May 19
Are Investors Undervaluing Bang & Olufsen a/s (CPH:BO) By 40%?

Are Investors Undervaluing Bang & Olufsen a/s (CPH:BO) By 40%?

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Bang & Olufsen a/s...

Shareholder Returns

BODK Consumer DurablesDK Market
7D-8.5%-1.6%-3.3%
1Y18.2%12.2%25.4%

Return vs Industry: BO exceeded the Danish Consumer Durables industry which returned 14% over the past year.

Return vs Market: BO underperformed the Danish Market which returned 26.5% over the past year.

Price Volatility

Is BO's price volatile compared to industry and market?
BO volatility
BO Average Weekly Movement5.4%
Consumer Durables Industry Average Movement4.4%
Market Average Movement4.8%
10% most volatile stocks in DK Market8.8%
10% least volatile stocks in DK Market3.0%

Stable Share Price: BO is not significantly more volatile than the rest of Danish stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: BO's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1925976Kristian Teärhttps://www.bang-olufsen.com

Bang & Olufsen a/s designs, develops, and markets audio and video products. The company offers portable, multi room, stereo, and architectural speakers; over-ear, on-ear, and other ear and head phones; televisions; and accessories. The company offers its products through approximately 485 Bang & Olufsen monobranded stores; and 3,316 multi-brand stores, as well as through third party retail stores and online.

Bang & Olufsen Fundamentals Summary

How do Bang & Olufsen's earnings and revenue compare to its market cap?
BO fundamental statistics
Market Capkr.3.35b
Earnings (TTM)kr.27.00m
Revenue (TTM)kr.2.83b

124.2x

P/E Ratio

1.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BO income statement (TTM)
Revenuekr.2.83b
Cost of Revenuekr.1.59b
Gross Profitkr.1.25b
Expenseskr.1.22b
Earningskr.27.00m

Last Reported Earnings

Aug 31, 2021

Next Earnings Date

Jan 12, 2022

Earnings per share (EPS)0.22
Gross Margin43.95%
Net Profit Margin0.95%
Debt/Equity Ratio11.4%

How did BO perform over the long term?

See historical performance and comparison

Valuation

Is Bang & Olufsen undervalued compared to its fair value and its price relative to the market?

30.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BO (DKK27.8) is trading below our estimate of fair value (DKK39.9)

Significantly Below Fair Value: BO is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: BO is poor value based on its PE Ratio (124.2x) compared to the European Consumer Durables industry average (13x).

PE vs Market: BO is poor value based on its PE Ratio (124.2x) compared to the Danish market (16.3x).


Price to Earnings Growth Ratio

PEG Ratio: BO is poor value based on its PEG Ratio (2.1x)


Price to Book Ratio

PB vs Industry: BO is overvalued based on its PB Ratio (2.9x) compared to the XE Consumer Durables industry average (1.8x).


Future Growth

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

58.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BO's forecast earnings growth (58.6% per year) is above the savings rate (0.1%).

Earnings vs Market: BO's earnings (58.6% per year) are forecast to grow faster than the Danish market (9.5% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: BO's revenue (10.9% per year) is forecast to grow faster than the Danish market (7.2% per year).

High Growth Revenue: BO's revenue (10.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BO's Return on Equity is forecast to be low in 3 years time (14.2%).


Past Performance

How has Bang & Olufsen performed over the past 5 years?

-22.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BO has a large one-off loss of DKK28.0M impacting its August 31 2021 financial results.

Growing Profit Margin: BO became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: BO has become profitable over the past 5 years, growing earnings by -22.8% per year.

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

Earnings vs Industry: BO has become profitable in the last year, making it difficult to compare its past year earnings growth to the Consumer Durables industry (58.7%).


Return on Equity

High ROE: BO's Return on Equity (2.4%) is considered low.


Financial Health

How is Bang & Olufsen's financial position?


Financial Position Analysis

Short Term Liabilities: BO's short term assets (DKK1.7B) exceed its short term liabilities (DKK944.0M).

Long Term Liabilities: BO's short term assets (DKK1.7B) exceed its long term liabilities (DKK245.0M).


Debt to Equity History and Analysis

Debt Level: BO has more cash than its total debt.

Reducing Debt: BO's debt to equity ratio has increased from 11.2% to 11.4% over the past 5 years.

Debt Coverage: BO's debt is well covered by operating cash flow (293.1%).

Interest Coverage: BO's interest payments on its debt are well covered by EBIT (44x coverage).


Balance Sheet


Dividend

What is Bang & Olufsen current dividend yield, its reliability and sustainability?

1.06%

Forecast Dividend Yield


Dividend Yield vs Market

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

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


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

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


Next Steps

Management

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

2.1yrs

Average management tenure


CEO

Kristian Teär (58 yo)

2.17yrs

Tenure

Mr. Kristian Teär serves as the Chief Executive Officer and Member of the Executive Board at Bang & Olufsen a/s since October 8, 2019. He was President at Bang & Olufsen a/s from October 8, 2019 to 2020. H...


Leadership Team

Experienced Management: BO's management team is considered experienced (2.1 years average tenure).


Board Members

Experienced Board: BO's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


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

Bang & Olufsen a/s's employee growth, exchange listings and data sources


Key Information

  • Name: Bang & Olufsen a/s
  • Ticker: BO
  • Exchange: CPSE
  • Founded: 1925
  • Industry: Consumer Electronics
  • Sector: Consumer Durables
  • Market Cap: kr.3.354b
  • Shares outstanding: 120.66m
  • Website: https://www.bang-olufsen.com

Number of Employees


Location

  • Bang & Olufsen a/s
  • Bang og Olufsen AllE 1
  • Struer
  • Central Denmark Region
  • 7600
  • Denmark

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/12/02 21:39
End of Day Share Price2021/12/02 00:00
Earnings2021/08/31
Annual Earnings2021/05/31


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.