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IC Group

CPSE:IC
Snowflake Description

Adequate balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IC
CPSE
DKK590M
Market Cap
  1. Home
  2. DK
  3. Consumer Durables
Company description

IC Group A/S manufactures and sells apparel and fashion products in the Denmark, Norway, Sweden, rest of Nordic region, rest of Europe, and internationally. The last earnings update was 67 days ago. More info.


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IC Share Price and Events
7 Day Returns
0%
CPSE:IC
0.5%
Europe Luxury
0.6%
DK Market
1 Year Returns
-76.2%
CPSE:IC
13.3%
Europe Luxury
1.1%
DK Market
IC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
IC Group (IC) 0% -0.5% -1.8% -76.2% -77.4% -78.3%
Europe Luxury 0.5% 4.7% 7.3% 13.3% 85.2% 105%
DK Market 0.6% -1.8% 1.3% 1.1% 12% 39.5%
1 Year Return vs Industry and Market
  • IC underperformed the Luxury industry which returned 13.3% over the past year.
  • IC underperformed the Market in Denmark which returned 1.1% over the past year.
Price Volatility
IC
Industry
5yr Volatility vs Market
Related Companies

Value

 Is IC Group 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 IC Group 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 IC Group.

CPSE:IC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 5.8%
Perpetual Growth Rate 10-Year DK 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 CPSE:IC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DK Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Luxury Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.812 (1 + (1- 22%) (15.61%))
0.941
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.21% + (0.941 * 5.96%)
5.82%

Discounted Cash Flow Calculation for CPSE:IC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for IC Group 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.

CPSE:IC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (DKK, Millions) Source Present Value
Discounted (@ 5.82%)
2020 14.31 Est @ -25.03% 13.52
2021 11.81 Est @ -17.46% 10.55
2022 10.38 Est @ -12.16% 8.76
2023 9.50 Est @ -8.44% 7.58
2024 8.95 Est @ -5.85% 6.74
2025 8.59 Est @ -4.03% 6.11
2026 8.35 Est @ -2.76% 5.62
2027 8.19 Est @ -1.87% 5.21
2028 8.09 Est @ -1.24% 4.86
2029 8.03 Est @ -0.81% 4.56
Present value of next 10 years cash flows DKK73.52
CPSE:IC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= DKK8.03 × (1 + 0.21%) ÷ (5.82% – 0.21%)
DKK143.47
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= DKK143.47 ÷ (1 + 5.82%)10
DKK81.49
CPSE:IC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= DKK73.52 + DKK81.49
DKK155.01
Equity Value per Share
(DKK)
= Total value / Shares Outstanding
= DKK155.01 / 15.19
DKK10.2
CPSE:IC Discount to Share Price
Calculation Result
Value per share (DKK) From above. DKK10.20
Current discount Discount to share price of DKK38.80
= -1 x (DKK38.80 - DKK10.20) / DKK10.20
-280.3%

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

  • The current share price of IC Group is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 IC Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are IC Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
CPSE:IC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in DKK DKK-3.03
CPSE:IC Share Price ** CPSE (2019-07-19) in DKK DKK38.8
Europe Luxury Industry PE Ratio Median Figure of 64 Publicly-Listed Luxury Companies 16.71x
Denmark Market PE Ratio Median Figure of 99 Publicly-Listed Companies 18.33x

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

** Primary Listing of IC Group.

CPSE:IC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= CPSE:IC Share Price ÷ EPS (both in DKK)

= 38.8 ÷ -3.03

-12.83x

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

  • IC Group is loss making, we can't compare its value to the Europe Luxury industry average.
  • IC Group is loss making, we can't compare the value of its earnings to the Denmark market.
Price based on expected Growth
Does IC Group's expected growth come at a high price?
Raw Data
CPSE:IC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -12.83x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
44.3%per year
Europe Luxury Industry PEG Ratio Median Figure of 38 Publicly-Listed Luxury Companies 1.85x
Denmark Market PEG Ratio Median Figure of 43 Publicly-Listed Companies 1.74x

*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 IC Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on IC Group's assets?
Raw Data
CPSE:IC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in DKK DKK20.73
CPSE:IC Share Price * CPSE (2019-07-19) in DKK DKK38.8
Europe Luxury Industry PB Ratio Median Figure of 92 Publicly-Listed Luxury Companies 1.42x
Denmark Market PB Ratio Median Figure of 135 Publicly-Listed Companies 1.54x
CPSE:IC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= CPSE:IC Share Price ÷ Book Value per Share (both in DKK)

= 38.8 ÷ 20.73

1.87x

* Primary Listing of IC Group.

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

  • IC Group is overvalued based on assets compared to the Europe Luxury industry average.
X
Value checks
We assess IC Group'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 Luxury 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 Luxury industry average (and greater than 0)? (1 check)
  5. IC Group 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.

Future Performance

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

  • No analysts cover IC Group, future earnings growth has been estimated based on fundamentals.
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
44.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is IC Group expected to grow at an attractive rate?
  • IC Group's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • IC Group's earnings growth is expected to exceed the Denmark market average.
  • Unable to compare IC Group's revenue growth to the Denmark market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
CPSE:IC Future Growth Rates Data Sources
Data Point Source Value (per year)
CPSE:IC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 44.3%
Europe Luxury Industry Earnings Growth Rate Market Cap Weighted Average 9.8%
Europe Luxury Industry Revenue Growth Rate Market Cap Weighted Average 7.3%
Denmark Market Earnings Growth Rate Market Cap Weighted Average 10.8%
Denmark Market Revenue Growth Rate Market Cap Weighted Average 6.4%

*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
CPSE:IC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in DKK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
CPSE:IC Future Estimates Data
Date (Data in DKK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
CPSE:IC Past Financials Data
Date (Data in DKK Millions) Revenue Cash Flow Net Income *
2019-03-31 1,431 84 -48
2018-12-31 1,483 209 -16
2018-09-30 1,455 295 -15
2018-06-30 1,535 277 34
2018-03-31 1,303 212 25
2017-12-31 1,442 186 17
2017-09-30 1,301 286 -39
2017-06-30 1,714 175 13
2017-03-31 1,851 163 35
2016-12-31 2,121 95 95
2016-09-30 2,673 85 165
2016-06-30 2,665 183 190

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • IC Group's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if IC Group 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
CPSE:IC 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 0 Analyst Estimates (S&P Global) See Below

All data from IC Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CPSE:IC Future Estimates Data
Date (Data in DKK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
CPSE:IC Past Financials Data
Date (Data in DKK Millions) EPS *
2019-03-31 -3.03
2018-12-31 -0.99
2018-09-30 -0.91
2018-06-30 2.04
2018-03-31 1.51
2017-12-31 1.02
2017-09-30 -2.34
2017-06-30 0.78
2017-03-31 2.10
2016-12-31 5.72
2016-09-30 9.92
2016-06-30 11.45

*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 IC Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess IC Group'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.
IC Group 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 IC Group 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 IC Group's growth in the last year to its industry (Luxury).
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.
  • IC Group does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare IC Group's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare IC Group's 1-year growth to the Europe Luxury industry average as it is not currently profitable.
Earnings and Revenue History
IC Group'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 IC Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CPSE:IC Past Revenue, Cash Flow and Net Income Data
Date (Data in DKK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,431.00 -48.00 832.00
2018-12-31 1,483.00 -16.00 823.00
2018-09-30 1,455.00 -15.00 800.00
2018-06-30 1,535.00 34.00 799.00
2018-03-31 1,303.00 25.00 686.00
2017-12-31 1,442.00 17.00 774.00
2017-09-30 1,301.00 -39.00 786.00
2017-06-30 1,714.00 13.00 915.00
2017-03-31 1,851.00 35.00 985.00
2016-12-31 2,121.00 95.00 1,049.00
2016-09-30 2,673.00 165.00 1,237.00
2016-06-30 2,665.00 190.00 1,213.00
2016-03-31 2,649.00 200.00 1,190.00
2015-12-31 2,658.00 176.00 1,203.00
2015-09-30 2,653.00 176.00 1,201.00
2015-06-30 2,638.00 154.00 1,214.00
2015-03-31 2,612.90 134.00 1,230.30
2014-12-31 2,609.30 153.50 1,213.10
2014-09-30 2,573.50 163.20 1,196.70
2014-06-30 2,563.00 159.00 1,187.00
2014-03-31 2,539.60 156.90 1,165.80
2013-12-31 2,490.80 142.50 1,159.00
2013-09-30 2,190.50 117.80 1,007.30
2013-06-30 2,423.70 136.10 1,117.20
2013-03-31 2,547.10 122.20 1,196.90
2012-12-31 2,775.30 119.60 1,306.30
2012-09-30 3,168.20 146.20 1,473.00

*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.
  • It is difficult to establish if IC Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if IC Group has efficiently used its assets last year compared to the Europe Luxury industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if IC Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess IC Group'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 Luxury 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.
IC Group 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.

Health

 How is IC Group'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 IC Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • IC Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • IC Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of IC Group'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 5.3x 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 IC Group Company Filings, last reported 3 months ago.

CPSE:IC Past Debt and Equity Data
Date (Data in DKK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 315.00 92.00 22.00
2018-12-31 379.00 84.00 84.00
2018-09-30 460.00 124.00 192.00
2018-06-30 2,294.00 68.00 1,941.00
2018-03-31 797.00 119.00 37.00
2017-12-31 775.00 178.00 90.00
2017-09-30 718.00 208.00 67.00
2017-06-30 723.00 86.00 69.00
2017-03-31 852.00 176.00 78.00
2016-12-31 824.00 186.00 79.00
2016-09-30 751.00 331.00 72.00
2016-06-30 740.00 109.00 84.00
2016-03-31 741.00 160.00 70.00
2015-12-31 949.00 108.00 179.00
2015-09-30 1,007.00 374.00 305.00
2015-06-30 884.00 193.00 251.00
2015-03-31 951.20 259.60 194.40
2014-12-31 844.00 415.30 310.00
2014-09-30 928.20 431.80 240.80
2014-06-30 833.00 137.00 225.00
2014-03-31 886.70 197.00 107.60
2013-12-31 907.50 134.80 203.60
2013-09-30 925.60 340.70 148.90
2013-06-30 808.80 188.70 210.50
2013-03-31 936.40 232.10 94.70
2012-12-31 868.00 230.00 41.50
2012-09-30 873.30 514.20 51.00
  • IC Group's level of debt (29.2%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (22.2% vs 29.2% today).
  • Debt is well covered by operating cash flow (91.3%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on IC Group's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess IC Group'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. IC Group has a total score of 4/6, 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 IC Group'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
14.07%
Current annual income from IC Group dividends.
If you bought DKK2,000 of IC Group shares you are expected to receive DKK281 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?
  • IC Group's pays a higher dividend yield than the bottom 25% of dividend payers in Denmark (1.58%).
  • IC Group's dividend is above the markets top 25% of dividend payers in Denmark (4.65%).
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
CPSE:IC 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
Europe Luxury Industry Average Dividend Yield Market Cap Weighted Average of 52 Stocks 1.6%
Denmark Market Average Dividend Yield Market Cap Weighted Average of 76 Stocks 2.2%
Denmark Minimum Threshold Dividend Yield 10th Percentile 0.9%
Denmark Bottom 25% Dividend Yield 25th Percentile 1.6%
Denmark Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

CPSE:IC Future Dividends Estimate Data
Date (Data in DKK) Dividend per Share (annual) Avg. No. Analysts
CPSE:IC Past Annualized Dividends Data
Date (Data in DKK) Dividend per share (annual) Avg. Yield (%)
2018-09-26 5.460 13.007
2017-08-31 5.000 3.414
2017-07-17 5.000 3.549
2016-09-28 5.000 3.221
2015-09-02 4.000 2.056
2015-07-15 4.000 2.237
2014-09-24 3.000 1.872
2013-08-22 2.000 1.218
2012-09-24 1.500 1.231
2011-09-26 4.500 4.098
2010-09-27 4.250 1.960
2010-05-12 0.000 0.000
2010-02-23 0.000 0.000
2009-11-05 0.000 0.000
2009-09-10 0.000 0.000
2008-09-17 4.000 5.476

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of IC Group's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
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 IC Group'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 IC Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. IC Group has a total score of 3/6, 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 IC Group'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
Alexander Martensen-Larsen
COMPENSATION DKK0
AGE 44
TENURE AS CEO 2.1 years
CEO Bio

Mr. Alexander Martensen-Larsen has been the Chief Executive Officer of IC group A/S since June 1, 2017 and served as its Group Chief Financial Officer since September 28, 2015. Mr. Martensen-Larsen has been Member of the Executive Board at IC group A/S since September 28, 2015. Mr. Martensen-Larsen served as Senior Vice President of Corporate Business Development at IC Companys A/S and served as its Vice President of Business Development. Mr. Martensen-Larsen served as Head of Corporate Business Development and Vice President at IC Companys A/S. He served as the Executive Assistant to the Chief Executive Officer since January 2008. Prior to joining IC Companys, he worked for TDC as a Director in Corporate Business Development and as an Associate Director in Mergers & Acquisitions. Previously, he served at Morgan Stanley in their Investment Banking Division in London. He serves as Chairman of Designers Remix. He served as an Independent Director of DK Company A/S since 2014 to until April 2, 2016. He is a Member of Saint Tropez af 1993 A/S. Mr. Martensen-Larsen holds an MBA from IMD Business School and a B.Sc. in International Business from Copenhagen Business School.

CEO Compensation
  • Alexander's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Alexander's remuneration is lower than average for companies of similar size in Denmark.
Management Team

Alexander Martensen-Larsen

TITLE
CEO & Member of the Executive Board
AGE
44
TENURE
2.1 yrs

Anders Boelskift

TITLE
Chief Financial Officer

Jens Bak-Holder

TITLE
Head of Investor Relations

Martin Christiansen

TITLE
Senior Vice President of Group General Counsel & HR

Anders Rahr

TITLE
Senior Vice President of IT & Logistics

Sofie Lindahl-Jessen

TITLE
Chief Executive Officer of Saint Tropez

Morten Linnet

TITLE
Vice President of Corporate HR
AGE
49
Board of Directors Tenure

Average tenure and age of the IC Group board of directors in years:

2.5
Average Tenure
57.5
Average Age
  • The average tenure for the IC Group board of directors is less than 3 years, this suggests a new board.
Board of Directors

Peter Thorsen

TITLE
Chairman
AGE
53
TENURE
2.5 yrs

Henrik Heideby

TITLE
Deputy Chairman
AGE
70
TENURE
2.5 yrs

Niels Martinsen

TITLE
Non- Independent Director
AGE
71
TENURE
18.5 yrs

Michael Sørensen

TITLE
Independent Director
AGE
46
TENURE
4.8 yrs

Conny Kalcher

TITLE
Independent Director
AGE
62
TENURE
2.3 yrs

Jón Björnsson

TITLE
Independent Director
AGE
51
TENURE
2.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (DKK) Value (DKK)
X
Management checks
We assess IC Group'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. IC Group 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

How Has IC Group A/S's (CPH:IC) Performed Against The Industry?

When IC Group A/S (CPH:IC) released its most recent earnings update (31 March 2018), I wanted to understand how these figures stacked up against its past performance. … The two benchmarks I used were IC Group's average earnings over the past couple of years, and its industry performance. … IC's trailing twelve-month earnings (from 31 March 2018) of ø95.0m has

Simply Wall St -

IC Group A/S (CPH:IC)'s Return on Capital

Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … Therefore, looking at how efficiently IC Group is able to use capital to create earnings will help us understand your potential return. … Investors use many different metrics but the analysis below focuses on return on capital employed (ROCE).

Simply Wall St -

How Financially Strong Is IC Group A/S (CPH:IC)?

IC Group A/S (CPH:IC) is a small-cap stock with a market capitalization of ø2.66b. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … So, understanding the company's financial health becomes.

Simply Wall St -

Does IC Group A/S (CPH:IC) Have A Place In Your Portfolio?

A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … In the past 10 years IC Group A/S (CPH:IC) has returned an average of 2.00% per year to investors in the form of dividend payouts. … 5 questions to ask before buying a dividend stock

Simply Wall St -

Did IC Group A/S (CPH:IC) Create Value For Shareholders?

and want to learn about Return on Equity using a real-life example. … If IC borrows debt to invest in its business, its profits will be higher. … But ROE does not capture any debt, so we only see high profits and low equity, which is great on the surface.

Simply Wall St -

Is IC Group A/S's (CPH:IC) PE Ratio A Signal To Sell For Investors?

This analysis is intended to introduce important early concepts to people who are starting to invest. … and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … IC Group A/S (CPH:IC) is currently trading at a trailing P/E of 28.4x, which is higher than the industry average of 25.4x.

Simply Wall St -

Intrinsic Calculation For IC Group A/S (CPH:IC) Shows Investors Are Overpaying

by taking the expected future cash flows and discounting them to their present value. … Discounted Cash Flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Should You Sell IC Group A/S (CPH:IC) At This PE Ratio?

The current price of IC places the company at a large trailing PE of 28.12x,. … This is because there are many company-specific factors like future prospects and capital structure, which are unaccounted for … To resolve this problem, I’ll identify some important factors to consider when judging the relative valuation of

Simply Wall St -

Should IC Group A/S (CPSE:IC) Be Your Next Stock Pick?

IC Group A/S (CPSE:IC) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … In the case of IC, it

Simply Wall St -

What You Must Know About IC Group A/S's (CPH:IC) Financial Strength

How does IC’s operating cash flow stack up against its debt? … Moreover, IC has generated cash from operations of Ø175.00M during the same period of time, leading to an operating cash to total debt ratio of 203.49%, signalling that IC’s current level of operating cash is high enough to cover debt. … For IC, the ratio of 67x suggests that interest is comfortably covered, which means that lenders may be less hesitant to lend out more funding as IC’s high interest coverage is seen as responsible and safe practice.Next Steps: IC’s high cash coverage and low debt levels indicate its ability to utilise its borrowings efficiently in order to generate ample cash flow.

Simply Wall St -

Company Info

Description

IC Group A/S manufactures and sells apparel and fashion products in the Denmark, Norway, Sweden, rest of Nordic region, rest of Europe, and internationally. It designs and sells clothes for men and women. The company provides its products primarily under the Tiger of Sweden, By Malene Birger, Saint Tropez, and Designers Remix brands through wholesale customers, franchise stores, concessions, and retail stores, as well as e-commerce. The company was formerly known as IC Companys A/S and changed its name to IC Group A/S in September 2014. IC Group A/S was founded in 2001 and is headquartered in Copenhagen, Denmark. As of May 16, 2018, IC Group A/S operates as a subsidiary of Friheden Invest A/S.

Details
Name: IC Group A/S
IC
Exchange: CPSE
Founded: 2001
DKK589,500,311
15,193,307
Website: http://www.icgroup.net
Address: IC Group A/S
Adelgade 12D,
Copenhagen K,
Copenhagen,
Capital Region of Denmark, 1304,
Denmark
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
CPSE IC Ordinary Shares OMX Nordic Exchange Copenhagen DK DKK 09. May 1996
LSE 0M4M Ordinary Shares London Stock Exchange GB DKK 09. May 1996
BATS-CHIXE ICC Ordinary Shares BATS 'Chi-X Europe' GB DKK 09. May 1996
Number of employees
Current staff
Staff numbers
563
IC Group employees.
Industry
Apparel, Accessories and Luxury Goods
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/20 20:55
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2018/08/28
Last earnings filing: 2019/05/14
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/06/30


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.