CPSE:ATHENA

Stock Analysis Report

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Executive Summary

Athena Investments A/S develops, constructs, and operates renewable energy projects in Italy.


Snowflake Analysis

Flawless balance sheet and fair value.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: ATHENA has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

3.1%

ATHENA

0.4%

DK Renewable Energy

-1.7%

DK Market


1 Year Return

-48.8%

ATHENA

28.8%

DK Renewable Energy

25.5%

DK Market

Return vs Industry: ATHENA underperformed the Danish Renewable Energy industry which returned 28.4% over the past year.

Return vs Market: ATHENA underperformed the Danish Market which returned 28% over the past year.


Shareholder returns

ATHENAIndustryMarket
7 Day3.1%0.4%-1.7%
30 Day0%2.5%1.4%
90 Day-1.2%20.5%10.8%
1 Year4.9%-48.8%32.4%28.8%27.9%25.5%
3 Year46.8%-51.5%79.3%65.8%48.8%36.1%
5 Year12.3%-63.7%104.9%83.0%51.1%32.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ATHENA (DKK3.32) is trading below our estimate of fair value (DKK11.24)

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


Price To Earnings Ratio

PE vs Industry: ATHENA is unprofitable, so we can't compare its PE Ratio to the XE Renewable Energy industry average.

PE vs Market: ATHENA is unprofitable, so we can't compare its PE Ratio to the Danish market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate ATHENA's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: ATHENA is good value based on its PB Ratio (0.6x) compared to the XE Renewable Energy industry average (1.7x).


Next Steps

Future Growth

How is Athena Investments forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

12.8%

Forecasted Utilities 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 Athena Investments 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.


Next Steps

Past Performance

How has Athena Investments performed over the past 5 years?

-6.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ATHENA is currently unprofitable.

Growing Profit Margin: ATHENA is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: ATHENA is unprofitable, and losses have increased over the past 5 years at a rate of 6.5% per year.

Accelerating Growth: Unable to compare ATHENA's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: ATHENA is unprofitable, making it difficult to compare its past year earnings growth to the Renewable Energy industry (37.4%).


Return on Equity

High ROE: ATHENA has a negative Return on Equity (-13.32%), as it is currently unprofitable.


Next Steps

Financial Health

How is Athena Investments's financial position?


Financial Position Analysis

Short Term Liabilities: ATHENA's short term assets (€112.4M) exceed its short term liabilities (€54.8M).

Long Term Liabilities: ATHENA's short term assets (€112.4M) exceed its long term liabilities (€422.0K).


Debt to Equity History and Analysis

Debt Level: ATHENA is debt free.

Reducing Debt: ATHENA has no debt compared to 5 years ago when its debt to equity ratio was 115.5%.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable ATHENA has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: ATHENA is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 14.7% per year.


Next Steps

Dividend

What is Athena Investments's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

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

High Dividend: Unable to evaluate ATHENA'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 ATHENA's dividends per share have been stable in the past.

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


Current Payout to Shareholders

Dividend Coverage: ATHENA is not paying a notable dividend for the Danish market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ATHENA'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?

9.8yrs

Average board tenure


CEO

Francesco Vittori (40 yo)

0.083

Tenure

Mr. Francesco Vittori serves as Chief Executive Officer at Athena Investments A/S since July 31, 2020. He has been the Chief Financial Officer and Member of Management Board at Greentech Energy Systems A/S ...


Board Members

NamePositionTenureCompensationOwnership
Peter Høstgaard-Jensen
Independent Chairman9.83yrsno data0.020%
€ 66.6k
Sigieri Diaz della Pallavicini
Deputy Chairman2.33yrs€43.00kno data
Valerio Bonazzi
Independent Director9.83yrsno datano data
Jean-Marc Janailhac
Independent Director9.83yrsno datano data
Michèle Bellon
Independent Director6.33yrsno datano data

9.8yrs

Average Tenure

66yo

Average Age

Experienced Board: ATHENA's board of directors are considered experienced (9.8 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

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


Key Information

  • Name: Athena Investments A/S
  • Ticker: ATHENA
  • Exchange: CPSE
  • Founded: 1924
  • Industry: Renewable Electricity
  • Sector: Utilities
  • Market Cap: ø337.553m
  • Shares outstanding: 101.37m
  • Website: https://www.athenainvestments.com

Number of Employees


Location

  • Athena Investments A/S
  • Harbour House
  • Sundkrogsgade 21
  • Copenhagen
  • Capital Region of Denmark
  • 2100
  • Denmark

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ATHENACPSE (OMX Nordic Exchange Copenhagen)YesShare CapitalDKDKKFeb 2007
G3EDB (Deutsche Boerse AG)YesShare CapitalDEEURFeb 2007
0HFDLSE (London Stock Exchange)YesShare CapitalGBDKKFeb 2007

Biography

Athena Investments A/S develops, constructs, and operates renewable energy projects in Italy. The company focuses on the wind and solar power technologies. As of December 31, 2019, it had a total net produ ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/04 21:54
End of Day Share Price2020/08/04 00:00
Earnings2019/12/31
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.