Executive Summary
Alm. Brand A/S, together with its subsidiaries, provides non-life insurance, banking, and life and pension insurance products and services in Denmark.
Rewards
Risk Analysis
Snowflake Analysis
Adequate balance sheet second-rate dividend payer.
Similar Companies
Share Price & News
How has Alm. Brand's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: ALMB has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
6.6%
ALMB
8.0%
DK Insurance
1.1%
DK Market
1 Year Return
-16.1%
ALMB
-22.8%
DK Insurance
5.7%
DK Market
Return vs Industry: ALMB exceeded the Danish Insurance industry which returned -23.8% over the past year.
Return vs Market: ALMB underperformed the Danish Market which returned 5.2% over the past year.
Shareholder returns
| ALMB | Industry | Market | |
|---|---|---|---|
| 7 Day | 6.6% | 8.0% | 1.1% |
| 30 Day | 3.7% | -6.0% | 2.2% |
| 90 Day | -10.7% | -27.4% | -6.2% |
| 1 Year | -12.1%-16.1% | -18.2%-22.8% | 7.7%5.7% |
| 3 Year | 8.2%-9.7% | -0.4%-14.8% | 34.4%23.2% |
| 5 Year | 45.2%12.4% | 5.0%-18.9% | 31.8%15.1% |
Price Volatility Vs. Market
How volatile is Alm. Brand's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 months ago | Simply Wall St
Should We Worry About Alm. Brand A/S's (CPH:ALMB) P/E Ratio?3 months ago | Simply Wall St
What Kind Of Investor Owns Most Of Alm. Brand A/S (CPH:ALMB)?4 months ago | Simply Wall St
The Case For Alm. Brand A/S (CPH:ALMB): Could It Be A Nice Addition To Your Dividend Portfolio?Valuation
Is Alm. Brand undervalued compared to its fair value and its price relative to the market?
46.6%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: ALMB (DKK52.4) is trading below our estimate of fair value (DKK98.05)
Significantly Below Fair Value: ALMB is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: ALMB is poor value based on its PE Ratio (18.1x) compared to the Insurance industry average (9.2x).
PE vs Market: ALMB is poor value based on its PE Ratio (18.1x) compared to the Danish market (12.5x).
Price to Earnings Growth Ratio
PEG Ratio: ALMB is poor value based on its PEG Ratio (1.2x)
Price to Book Ratio
PB vs Industry: ALMB is overvalued based on its PB Ratio (1.8x) compared to the XE Insurance industry average (0.9x).
Next Steps
Future Growth
How is Alm. Brand forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
14.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ALMB's forecast earnings growth (14.7% per year) is above the savings rate (-0.3%).
Earnings vs Market: ALMB's earnings (14.7% per year) are forecast to grow faster than the Danish market (12.1% per year).
High Growth Earnings: ALMB's earnings are forecast to grow, but not significantly.
Revenue vs Market: ALMB's revenue is expected to decline over the next 3 years (-16.2% per year).
High Growth Revenue: ALMB's revenue is forecast to decline over the next 3 years (-16.2% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: ALMB's Return on Equity is forecast to be low in 3 years time (14%).
Next Steps
Past Performance
How has Alm. Brand performed over the past 5 years?
3.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ALMB has high quality earnings.
Growing Profit Margin: ALMB's current net profit margins (4.8%) are lower than last year (7.3%).
Past Earnings Growth Analysis
Earnings Trend: ALMB's earnings have grown by 3.8% per year over the past 5 years.
Accelerating Growth: ALMB's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: ALMB had negative earnings growth (-20.6%) over the past year, making it difficult to compare to the Insurance industry average (10.5%).
Return on Equity
High ROE: ALMB's Return on Equity (9.9%) is considered low.
Next Steps
Financial Health
How is Alm. Brand's financial position?
Financial Position Analysis
Short Term Liabilities: ALMB's short term assets (DKK2.9B) do not cover its short term liabilities (DKK18.1B).
Long Term Liabilities: ALMB's short term assets (DKK2.9B) do not cover its long term liabilities (DKK19.2B).
Debt to Equity History and Analysis
Debt Level: ALMB's debt to equity ratio (30.9%) is considered satisfactory.
Reducing Debt: ALMB's debt to equity ratio has reduced from 52.8% to 30.9% over the past 5 years.
Debt Coverage: ALMB's debt is well covered by operating cash flow (101.3%).
Interest Coverage: ALMB's interest payments on its debt are well covered by EBIT (12.5x coverage).
Balance Sheet
Next Steps
Dividend
What is Alm. Brand's current dividend yield, its reliability and sustainability?
5.73%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: ALMB's dividend (5.73%) is higher than the bottom 25% of dividend payers in the Danish market (1.71%).
High Dividend: ALMB's dividend (5.73%) is in the top 25% of dividend payers in the Danish market (4.27%)
Stability and Growth of Payments
Stable Dividend: ALMB has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: ALMB's dividend payments have increased, but the company has only paid a dividend for 5 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (103.4%), ALMB's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: ALMB's dividends in 3 years are forecast to be covered by earnings (82.2% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
0.8yrs
Average management tenure
CEO
Rasmus Nielsen (50yo)
0.50
Tenure
Mr. Rasmus Werner Nielsen has been a Member of the Management Board at Alm. Brand A/S since 2019 and also its Acting Chief Executive Officer since October 2019. Mr. Nielsen serves as Director at Alm. Brand ...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Interim CEO & Member of the Management Board | 0.50yr | no data | 0.013% DKK1.1m | |
| Executive VP of Finance & CFO | 0.50yr | no data | no data | |
| Executive VP of Business Development & Digitalization and COO | no data | no data | no data | |
| First VP & Head of Investor Relations | no data | no data | no data | |
| Director & Senior VP of Group Legal | 3.17yrs | no data | no data | |
| Chief Press & Communication Officer | 1.25yrs | no data | no data | |
| Senior Vice President of Human Resources | no data | no data | no data | |
| Executive Vice President of Region Jylland Nord | no data | no data | no data | |
| Senior Vice President of Non-life Insurance - Commercial | 0.83yr | no data | no data | |
| Senior Vice President of Non-life Insurance - Private | 0.83yr | no data | no data |
0.8yrs
Average Tenure
48yo
Average Age
Experienced Management: ALMB's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Director | 2yrs | ø340.00k | no data | |
| Chairman of the Board | 11.25yrs | ø1.12m | 0.19% DKK15.1m | |
| Director | 17yrs | ø485.00k | 0.0056% DKK456.7k | |
| Director | 11yrs | ø340.00k | 0.020% DKK1.6m | |
| Employee Representative Director | 14yrs | ø300.00k | 0.0023% DKK184.1k | |
| Director | 5yrs | ø615.00k | 0.0021% DKK171.2k | |
| Director | 7yrs | ø485.00k | 0.0013% DKK105.5k | |
| Employee Representative Director | 10yrs | ø300.00k | 0.0016% DKK126.6k | |
| Deputy Chairman of the Board | no data | ø840.00k | 0.0078% DKK633.6k | |
| Director | 7yrs | ø300.00k | no data |
10.0yrs
Average Tenure
61.5yo
Average Age
Experienced Board: ALMB's board of directors are seasoned and experienced ( 10 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
Alm. Brand A/S's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Alm. Brand A/S
- Ticker: ALMB
- Exchange: CPSE
- Founded:
- Industry: Property and Casualty Insurance
- Sector: Insurance
- Market Cap: ø8.112b
- Shares outstanding: 153.64m
- Website: https://www.almbrand.dk
Number of Employees
Location
- Alm. Brand A/S
- Midtermolen 7
- Copenhagen
- Capital Region of Denmark
- 2100
- Denmark
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| ALMB | CPSE (OMX Nordic Exchange Copenhagen) | Yes | Registered Shares | DK | DKK | Jan 1992 |
| 0DJI | LSE (London Stock Exchange) | Yes | Registered Shares | GB | DKK | Jan 1992 |
| ALMBC | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Registered Shares | GB | DKK | Jan 1992 |
| 1AM | DB (Deutsche Boerse AG) | Yes | Registered Shares | DE | EUR | Jan 1992 |
Biography
Alm. Brand A/S, together with its subsidiaries, provides non-life insurance, banking, and life and pension insurance products and services in Denmark. The company offers banking products and services to private customers and small and medium-sized enterprises; and financial markets services comprising bonds, equity and currency trading and research, private banking, and asset management services, as well as leases cars to private and commercial customers. It also provides advisory services. The company offers its non-life insurance products for the private customers, small and medium-sized enterprises, property owners and administrators, agricultural customers, and the public sectors through insurance shops, independent insurance shops, and business partners. Its life and pension insurance products include coverage for death, disability, and critical illness; and savings comprising capital pension plans, installment pensions, and annuity schemes for private individuals, farmers, and owners and employees of small businesses. The company operates 19 branches in Denmark. Alm. Brand A/S is headquartered in Copenhagen, Denmark. Alm. Brand A/S is a subsidiary of Alm. Brand af 1792 Fmba.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/04/09 21:41 |
| End of Day Share Price | 2020/04/08 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.