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Clínica Baviera

BME:CBAV
Snowflake Description

Adequate balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CBAV
BME
€233M
Market Cap
  1. Home
  2. ES
  3. Healthcare
Company description

Clínica Baviera, S.A. operates a network of ophthalmological clinics. The last earnings update was 64 days ago. More info.


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CBAV Share Price and Events
7 Day Returns
-0.3%
BME:CBAV
2.3%
Europe Healthcare
0.9%
ES Market
1 Year Returns
4%
BME:CBAV
-20.8%
Europe Healthcare
-3.3%
ES Market
CBAV Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Clínica Baviera (CBAV) -0.3% 0.7% 4.4% 4% 97.2% 55.8%
Europe Healthcare 2.3% 2.1% -0.4% -20.8% -10.9% 43%
ES Market 0.9% 1.7% -0.8% -3.3% 12.3% -13%
1 Year Return vs Industry and Market
  • CBAV outperformed the Healthcare industry which returned -20.8% over the past year.
  • CBAV outperformed the Market in Spain which returned -3.3% over the past year.
Price Volatility
CBAV
Industry
5yr Volatility vs Market
Related Companies

CBAV Value

 Is Clínica Baviera 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 Clínica Baviera 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 Clínica Baviera.

BME:CBAV 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 8.2%
Perpetual Growth Rate 10-Year ES Government Bond Rate 1.5%

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 BME:CBAV
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year ES Govt Bond Rate 1.5%
Equity Risk Premium S&P Global 8.2%
Healthcare Unlevered Beta Simply Wall St/ S&P Global 0.63
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.627 (1 + (1- 25%) (20.64%))
0.816
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.82
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.53% + (0.816 * 8.18%)
8.2%

Discounted Cash Flow Calculation for BME:CBAV using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Clínica Baviera 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.

BME:CBAV DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 8.2%)
2020 8.72 Est @ 5% 8.06
2021 9.07 Est @ 3.96% 7.75
2022 9.36 Est @ 3.23% 7.39
2023 9.62 Est @ 2.72% 7.02
2024 9.84 Est @ 2.36% 6.64
2025 10.05 Est @ 2.11% 6.27
2026 10.25 Est @ 1.93% 5.90
2027 10.43 Est @ 1.81% 5.55
2028 10.61 Est @ 1.73% 5.22
2029 10.79 Est @ 1.67% 4.91
Present value of next 10 years cash flows €64.72
BME:CBAV DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €10.79 × (1 + 1.53%) ÷ (8.2% – 1.53%)
€164.21
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €164.21 ÷ (1 + 8.2%)10
€74.69
BME:CBAV Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €64.72 + €74.69
€139.41
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €139.41 / 16.30
€8.55
BME:CBAV Discount to Share Price
Calculation Result
Value per share (EUR) From above. €8.55
Current discount Discount to share price of €14.30
= -1 x (€14.30 - €8.55) / €8.55
-67.2%

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

  • The current share price of Clínica Baviera 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 Clínica Baviera's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Clínica Baviera's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BME:CBAV PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €0.71
BME:CBAV Share Price ** BME (2019-07-17) in EUR €14.3
Europe Healthcare Industry PE Ratio Median Figure of 60 Publicly-Listed Healthcare Companies 21.69x
Spain Market PE Ratio Median Figure of 141 Publicly-Listed Companies 17.33x

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

** Primary Listing of Clínica Baviera.

BME:CBAV PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BME:CBAV Share Price ÷ EPS (both in EUR)

= 14.3 ÷ 0.71

20.22x

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

  • Clínica Baviera is good value based on earnings compared to the Europe Healthcare industry average.
  • Clínica Baviera is overvalued based on earnings compared to the Spain market.
Price based on expected Growth
Does Clínica Baviera's expected growth come at a high price?
Raw Data
BME:CBAV PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 20.22x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-15.5%per year
Europe Healthcare Industry PEG Ratio Median Figure of 36 Publicly-Listed Healthcare Companies 1.5x
Spain Market PEG Ratio Median Figure of 82 Publicly-Listed Companies 1.61x

*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 Clínica Baviera, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Clínica Baviera's assets?
Raw Data
BME:CBAV PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €1.90
BME:CBAV Share Price * BME (2019-07-17) in EUR €14.3
Europe Healthcare Industry PB Ratio Median Figure of 73 Publicly-Listed Healthcare Companies 1.96x
Spain Market PB Ratio Median Figure of 185 Publicly-Listed Companies 1.61x
BME:CBAV PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BME:CBAV Share Price ÷ Book Value per Share (both in EUR)

= 14.3 ÷ 1.90

7.54x

* Primary Listing of Clínica Baviera.

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

  • Clínica Baviera is overvalued based on assets compared to the Europe Healthcare industry average.
X
Value checks
We assess Clínica Baviera'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 Healthcare 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 Healthcare industry average (and greater than 0)? (1 check)
  5. Clínica Baviera has a total score of 1/6, 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.

CBAV Future Performance

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

  • No analysts cover Clínica Baviera, 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
-15.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Clínica Baviera expected to grow at an attractive rate?
  • Clínica Baviera's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.5%.
Growth vs Market Checks
  • Clínica Baviera's earnings are expected to decrease over the next 1-3 years, this is below the Spain market average.
  • Unable to compare Clínica Baviera's revenue growth to the Spain market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
BME:CBAV Future Growth Rates Data Sources
Data Point Source Value (per year)
BME:CBAV Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -15.5%
Europe Healthcare Industry Earnings Growth Rate Market Cap Weighted Average 12.5%
Europe Healthcare Industry Revenue Growth Rate Market Cap Weighted Average 6.5%
Spain Market Earnings Growth Rate Market Cap Weighted Average 7.9%
Spain Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*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
BME:CBAV 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 EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BME:CBAV Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 110 12
2018-12-31 109 17 12
2018-09-30 107 11
2018-06-30 106 18 12
2018-03-31 104 11
2017-12-31 100 16 10
2017-09-30 97 8
2017-06-30 94 13 8
2017-03-31 92 8
2016-12-31 92 14 8
2016-09-30 92 9
2016-06-30 91 14 8

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Clínica Baviera's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Clínica Baviera 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
BME:CBAV 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 Clínica Baviera Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BME:CBAV Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 0.71
2018-12-31 0.73
2018-09-30
2018-06-30 0.73
2018-03-31
2017-12-31 0.60
2017-09-30
2017-06-30 0.47
2017-03-31
2016-12-31 0.49
2016-09-30
2016-06-30 0.48

*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 Clínica Baviera will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Clínica Baviera'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.
Clínica Baviera has a total score of 0/6, 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.

CBAV Past Performance

  How has Clínica Baviera 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 Clínica Baviera's growth in the last year to its industry (Healthcare).
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.
  • Clínica Baviera has delivered over 20% year on year earnings growth in the past 5 years.
  • Clínica Baviera's 1-year earnings growth is less than its 5-year average (3.7% vs 26.2%)
  • Clínica Baviera's earnings growth has not exceeded the Europe Healthcare industry average in the past year (3.7% vs 8.1%).
Earnings and Revenue History
Clínica Baviera'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 Clínica Baviera Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BME:CBAV Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 110.49 11.53 15.49
2018-12-31 109.29 11.83 15.49
2018-09-30 106.83 11.27 15.42
2018-06-30 105.90 11.78 15.42
2018-03-31 103.56 11.12 15.42
2017-12-31 99.88 9.77 15.42
2017-09-30 96.78 8.37 13.13
2017-06-30 94.20 7.64 13.13
2017-03-31 92.09 7.60 13.13
2016-12-31 91.57 7.91 13.13
2016-09-30 91.83 8.65 12.70
2016-06-30 90.79 8.07 12.70
2016-03-31 88.05 6.40 12.70
2015-12-31 85.53 4.88 12.70
2015-09-30 84.23 4.29 12.52
2015-06-30 83.35 3.79 12.52
2015-03-31 82.65 3.47 12.52
2014-12-31 82.62 4.05 12.52
2014-09-30 80.20 3.39 12.45
2014-06-30 79.17 2.87 12.45
2014-03-31 80.41 4.71 12.45
2013-12-31 79.98 4.69 12.45
2013-09-30 91.94 0.41 15.72
2013-06-30 80.50 6.72 12.50
2013-03-31 89.93 0.38 15.72
2012-12-31 77.90 5.32 12.50
2012-09-30 90.95 2.98 15.46

*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.
  • Clínica Baviera has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Clínica Baviera used its assets more efficiently than the Europe Healthcare industry average last year based on Return on Assets.
  • Clínica Baviera's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Clínica Baviera'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 Healthcare 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.
Clínica Baviera has a total score of 3/6, 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.

CBAV Health

 How is Clínica Baviera'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 Clínica Baviera's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Clínica Baviera's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Clínica Baviera's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Clínica Baviera'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 1.1x 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 Clínica Baviera Company Filings, last reported 3 months ago.

BME:CBAV Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 31.19 12.26
2018-12-31 28.76 13.22 9.80
2018-09-30 24.98 15.89 10.65
2018-06-30 23.95 16.07 10.62
2018-03-31 24.88 14.75 12.22
2017-12-31 24.88 14.75 12.22
2017-09-30 20.07 18.15 13.28
2017-06-30 20.07 18.15 13.28
2017-03-31 21.19 16.38 13.49
2016-12-31 18.57 16.53 11.83
2016-09-30 23.96 13.78 15.76
2016-06-30 23.96 13.78 15.76
2016-03-31 21.31 13.92 13.11
2015-12-31 21.31 13.92 13.11
2015-09-30 20.16 16.27 12.37
2015-06-30 20.16 16.27 12.37
2015-03-31 20.20 15.72 13.02
2014-12-31 20.20 15.72 13.02
2014-09-30 19.70 14.47 10.29
2014-06-30 19.70 14.47 10.29
2014-03-31 25.35 11.16 12.73
2013-12-31 25.35 11.16 12.73
2013-09-30 22.60 14.29 15.11
2013-06-30 22.60 14.29 15.11
2013-03-31 20.86 15.59 9.40
2012-12-31 20.86 15.57 9.40
2012-09-30 22.99 18.75 12.67
  • Clínica Baviera's level of debt (39.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (44.3% vs 39.3% today).
  • Debt is well covered by operating cash flow (137.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 66.6x coverage).
X
Financial health checks
We assess Clínica Baviera'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. Clínica Baviera 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.

CBAV Dividends

 What is Clínica Baviera'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
4.06%
Current annual income from Clínica Baviera dividends.
If you bought €2,000 of Clínica Baviera shares you are expected to receive €81 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?
  • Clínica Baviera's pays a higher dividend yield than the bottom 25% of dividend payers in Spain (2.3%).
  • Clínica Baviera's dividend is below the markets top 25% of dividend payers in Spain (5.31%).
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
BME:CBAV 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 Healthcare Industry Average Dividend Yield Market Cap Weighted Average of 45 Stocks 1.6%
Spain Market Average Dividend Yield Market Cap Weighted Average of 77 Stocks 4.3%
Spain Minimum Threshold Dividend Yield 10th Percentile 1.2%
Spain Bottom 25% Dividend Yield 25th Percentile 2.3%
Spain Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

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

BME:CBAV Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-04-26 0.580 4.049
2019-02-28 0.580 4.375
2018-04-20 0.480 3.611
2018-02-27 0.480 5.195
2017-04-07 0.440 4.864
2017-02-22 0.440 4.495
2016-04-08 0.240 3.198
2016-02-25 0.240 4.317
2015-04-09 0.260 4.387
2015-02-25 0.260 3.278
2014-10-29 0.180 2.395
2014-07-28 0.140 1.712
2014-04-01 0.490 4.704
2013-04-04 0.100 1.439
2013-02-28 0.100 2.493
2012-04-04 0.270 5.891
2011-04-26 0.280 3.995
2011-02-24 0.280 3.483
2010-11-04 0.240 3.209
2010-02-24 0.070 0.880
2010-01-04 0.070 0.841
2009-10-29 0.000 0.000
2009-07-30 0.000 0.000
2009-05-11 0.000 0.000
2009-04-22 0.000 0.000

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 Clínica Baviera's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
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 Clínica Baviera's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - 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 Clínica Baviera afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Clínica Baviera 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.

CBAV Management

 What is the CEO of Clínica Baviera'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
Eduardo Baviera Sabater
COMPENSATION €200,000
AGE 51
CEO Bio

Mr. Eduardo Baviera Sabater serves as the Chief Executive Officer of Clínica Baviera, S.A. and served as its Executive Chairman since February 12 2007 and also served as its Managing Director. Mr. Baviera Sabater served as the Chief Executive Officer and General Manager of Clínica Baviera, S.A. He joined the Clínica Baviera Group in 1994. From 1991 to 1994, he worked at Pricewaterhouse. From 1997 to 2000, he was a lecturer at the Instituto de Empresa (Institute of Business). He has been an Executive Director of Clínica Baviera, S.A. since February 12, 2007. He graduated with a degree in Economics and Business Studies from the University of Valencia.

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

Eduardo Baviera Sabater

TITLE
CEO & Executive Director
COMPENSATION
€200K
AGE
51

Julio Baviera Sabater

TITLE
President
COMPENSATION
€43K
AGE
64
TENURE
12.4 yrs

Luis Romero

TITLE
Expansion & Openings Manager
COMPENSATION
€121K

Diego Ramos Pascual

TITLE
Secretary & Independent Director
COMPENSATION
€33K

Virgilio Leal Espí

TITLE
Finance Manager

Antonio Peral Ortiz de la Torre

TITLE
Deputy Secretary to the Board of Directors
Board of Directors Tenure

Average tenure and age of the Clínica Baviera board of directors in years:

11
Average Tenure
54
Average Age
  • The average tenure for the Clínica Baviera board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Bang Chen

TITLE
Chairman
AGE
54
TENURE
1.9 yrs

Eduardo Baviera Sabater

TITLE
CEO & Executive Director
COMPENSATION
€200K
AGE
51
TENURE
12.4 yrs

Diego Ramos Pascual

TITLE
Secretary & Independent Director
COMPENSATION
€33K
TENURE
11 yrs

Ricardo Moreno Warleta

TITLE
Independent Director
COMPENSATION
€33K
AGE
54
TENURE
12.4 yrs

Li Li

TITLE
Director
TENURE
1.9 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 (€) Value (€)
X
Management checks
We assess Clínica Baviera'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. Clínica Baviera 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.

CBAV News

Simply Wall St News

Can Clínica Baviera SA's (BME:CBAV) ROE Continue To Surpass The Industry Average?

Our data shows Clínica Baviera has a return on equity of 46% for the last year. … One way to conceptualize this, is that for each €1 of shareholders' equity it has, the company made €0.46 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Where Clínica Baviera SA (BME:CBAV) Stands In Terms Of Earnings Growth Against Its Industry

Today I will examine Clínica Baviera SA's (BME:CBAV) latest earnings update (30 September 2018) and compare these figures against its performance over the past couple of years, in addition to how the rest of CBAV's industry performed. … How CBAV fared against its long-term earnings performance and its industry. … CBAV's trailing twelve-month earnings (from 30 September 2018) of €11m has

Simply Wall St -

What You Must Know About Clínica Baviera SA's (BME:CBAV) ROE

and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … With more debt, CBAV can invest even more and earn more money, thus pushing up its returns. … Check out our latest analysis for Clínica Baviera

Simply Wall St -

Clínica Baviera SA (BME:CBAV): The Return Story

This share represents a portion of capital used by the company to operate the business, and it is important the company is able to use the capital base efficiently to create adequate cash flows for you as an investor. … Therefore, looking at how efficiently Clínica Baviera is able to use capital to create earnings will help us understand your potential return. … Clínica Baviera's Return On Capital Employed

Simply Wall St -

Does Clínica Baviera SA's (BME:CBAV) PE Ratio Signal A Buying Opportunity?

While CBAV might seem like an attractive stock to buy, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions. … I will deconstruct the P/E ratio and highlight what you need to be careful of when using the P/E ratio … See our latest analysis for Clínica Baviera

Simply Wall St -

Is Clínica Baviera SA's (BME:CBAV) Balance Sheet A Threat To Its Future?

Investors are always looking for growth in small-cap stocks like Clínica Baviera SA (BME:CBAV), with a market cap of €208.72m. … However, an important fact which most ignore is: how financially healthy is the business?

Simply Wall St -

You Should Buy Clínica Baviera SA (BME:CBAV) Because Of These Reasons

Clínica Baviera SA (BME:CBAV) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … Below, I've touched on some key aspects you should know on a high level

Simply Wall St -

Understanding Your Return On Investment In Clínica Baviera SA. (BME:CBAV)

To understand Clínica Baviera’s capital returns we will look at a useful metric called return on capital employed. … See our latest analysis for Clínica Baviera What is Return on Capital Employed (ROCE)? … Next Steps Clínica Baviera’s ROCE has increased in the recent past and is currently at a level that makes the company an attractive candidate that is capable of producing solid capital returns, and hence, an attractive return on investment.

Simply Wall St -

Who Owns Clínica Baviera SA. (BME:CBAV)?

Insider Ownership Another important group of shareholders are company insiders. … BME:CBAV Insider_trading Apr 20th 18 General Public Ownership With 6.26% ownership, the general public are also an important ownership class in CBAV. … This size of ownership, while considerably large for a public company, may not be enough to change company policy if the decision is not in sync with other large shareholders.

Simply Wall St -

What You Must Know About Clínica Baviera SA.'s (BME:CBAV) Market Risks

CBAV’s beta indicates it is a stock that investors may find valuable if they want to reduce the overall market risk exposure of their stock portfolio. … However, this is the opposite to what CBAV’s actual beta value suggests, which is lower stock volatility relative to the market. … Depending on the composition of your portfolio, low-beta stocks such as CBAV is valuable to lower your risk of market exposure, in particular, during times of economic decline.

Simply Wall St -

CBAV Company Info

Description

Clínica Baviera, S.A. operates a network of ophthalmological clinics. It is involved in the diagnosis, treatment, and monitoring of various types of ophthalmological disorders. The company’s clinics offers myopia, hyperopia, astigmatism, presbyopia, cataract, retina, pediatric ophthalmology, glaucoma, squint, oculoplasty, cornea, neuroftalmología, and vias lagrimales treatments, as well as refractive surgery services. It operates approximately 80 ophthalmological clinics in Spain, Germany, Austria, and Italy. The company is based in Madrid, Spain.

Details
Name: Clínica Baviera, S.A.
CBAV
Exchange: BME
Founded:
€233,120,602
16,302,140
Website: http://www.clinicabaviera.com
Address: Clínica Baviera, S.A.
Paseo de la Castellana nº 20,
Madrid,
Madrid, 28046,
Spain
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BME CBAV Common Shares Bolsas y Mercados Espanoles ES EUR 05. Apr 2007
DB D9Z Common Shares Deutsche Boerse AG DE EUR 05. Apr 2007
BATS-CHIXE CBAVE Common Shares BATS 'Chi-X Europe' GB EUR 05. Apr 2007
Number of employees
Current staff
Staff numbers
1,066
Clínica Baviera employees.
Industry
Health Care Facilities
Healthcare
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/17 21:09
End of day share price update: 2019/07/17 00:00
Last earnings filing: 2019/05/14
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


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.