HLSE:DOV1V

Stock Analysis Report

Executive Summary

Dovre Group Plc, together with its subsidiaries, provides project management services worldwide.

Rewards

PE ratio (25.1x) is below the Professional Services industry average (36.7x)

Became profitable this year

Risk Analysis

Unstable dividend track record

Large one-off items impacting financial results

Does not have a meaningful market cap (€29M)



Snowflake Analysis

Adequate balance sheet and slightly overvalued.

Share Price & News

How has Dovre Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: DOV1V has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-1.0%

DOV1V

-2.0%

FI Professional Services

0.9%

FI Market


1 Year Return

25.1%

DOV1V

29.7%

FI Professional Services

8.5%

FI Market

Return vs Industry: DOV1V underperformed the Finnish Professional Services industry which returned 29.7% over the past year.

Return vs Market: DOV1V exceeded the Finnish Market which returned 8.5% over the past year.


Shareholder returns

DOV1VIndustryMarket
7 Day-1.0%-2.0%0.9%
30 Day-9.8%-3.1%-1.1%
90 Day21.4%11.4%1.0%
1 Year30.6%25.1%34.3%29.7%13.5%8.5%
3 Year13.6%1.1%98.4%77.8%25.8%10.7%
5 Year10.4%-20.0%87.0%62.5%54.5%24.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Dovre Group undervalued compared to its fair value and its price relative to the market?

25.06x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: DOV1V (€0.28) is trading above our estimate of fair value (€0.11)

Significantly Below Fair Value: DOV1V is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: DOV1V is good value based on its PE Ratio (25.1x) compared to the Professional Services industry average (36.7x).

PE vs Market: DOV1V is poor value based on its PE Ratio (25.1x) compared to the Finnish market (19.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate DOV1V's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: DOV1V is good value based on its PB Ratio (1.3x) compared to the FI Professional Services industry average (1.5x).


Next Steps

Future Growth

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

25.3%

Forecasted Commercial Services 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 Dovre Group 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 Dovre Group performed over the past 5 years?

16.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DOV1V has a large one-off gain of €623.0K impacting its June 30 2019 financial results.

Growing Profit Margin: DOV1V became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: DOV1V has become profitable over the past 5 years, growing earnings by 16.6% per year.

Accelerating Growth: DOV1V has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: DOV1V has become profitable in the last year, making it difficult to compare its past year earnings growth to the Professional Services industry (36.1%).


Return on Equity

High ROE: DOV1V's Return on Equity (5.1%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Dovre Group's financial position?


Financial Position Analysis

Short Term Liabilities: DOV1V's short term assets (€22.9M) exceed its short term liabilities (€20.6M).

Long Term Liabilities: DOV1V's short term assets (€22.9M) exceed its long term liabilities (€4.7M).


Debt to Equity History and Analysis

Debt Level: DOV1V's debt to equity ratio (23.1%) is considered satisfactory.

Reducing Debt: DOV1V's debt to equity ratio has increased from 5% to 23.1% over the past 5 years.

Debt Coverage: DOV1V's debt is not well covered by operating cash flow (8.2%).

Interest Coverage: DOV1V's interest payments on its debt are well covered by EBIT (6.1x coverage).


Balance Sheet

Inventory Level: DOV1V has a low level of unsold assets or inventory.

Debt Coverage by Assets: DOV1V's debt is covered by short term assets (assets are 4.4x debt).


Next Steps

Dividend

What is Dovre Group's current dividend yield, its reliability and sustainability?

3.52%

Current Dividend Yield


Dividend Yield vs Market

company3.5%marketbottom25%2.3%markettop25%4.9%industryaverage3.0%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: DOV1V's dividend (3.52%) is higher than the bottom 25% of dividend payers in the Finnish market (2.25%).

High Dividend: DOV1V's dividend (3.52%) is low compared to the top 25% of dividend payers in the Finnish market (4.85%).


Stability and Growth of Payments

Stable Dividend: DOV1V has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: DOV1V has only been paying a dividend for 8 years, and since then payments have not increased.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (88.2%), DOV1V's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Dovre Group's salary, the management and board of directors tenure and is there insider trading?

1.9yrs

Average management tenure


CEO

Arve Jensen (60yo)

1.1yrs

Tenure

0

Mr. Arve Jensen, M. Sc (Mech.) has been Chief Executive Officer of Dovre Group Plc since November 1, 2018, and serves as its President of Business Area Norway since May 28, 2015. Mr. Jensen served as Presi ...


Management Age and Tenure

1.9yrs

Average Tenure

54yo

Average Age

Experienced Management: DOV1V's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.


Board Age and Tenure

1.3yrs

Average Tenure

59yo

Average Age

Experienced Board: DOV1V's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.


Insider Trading

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.


Management Team

  • Arve Jensen (60yo)

    CEO & President of Business Area Norway

    • Tenure: 1.1yrs
  • Stein Berntsen (54yo)

    President of Business Area Consulting

    • Tenure: 5.4yrs
  • Mari Paski (45yo)

    Chief Financial Officer

    • Tenure: 1.9yrs

Board Members

  • Antti Manninen (58yo)

    Independent Director

    • Tenure: 1.8yrs
  • Ilari Koskelo (60yo)

    Vice Chairman of the Board

    • Tenure: 1.3yrs
  • Svein Stavelin (62yo)

    Chairman of the Board

    • Tenure: 1.3yrs
  • Kristine Larneng (37yo)

    Director

    • Tenure: 0yrs

Company Information

Dovre Group Plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Dovre Group Plc
  • Ticker: DOV1V
  • Exchange: HLSE
  • Founded: 1983
  • Industry: Research and Consulting Services
  • Sector: Commercial Services
  • Market Cap: €28.706m
  • Shares outstanding: 101.08m
  • Website: https://www.dovregroup.com

Number of Employees


Location

  • Dovre Group Plc
  • Maapallonkuja 1 B
  • Espoo
  • Uusimaa
  • 2210
  • Finland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DOV1VHLSE (OMX Nordic Exchange Helsinki)YesCommon StockFIEUROct 1999
0JCDLSE (London Stock Exchange)YesCommon StockGBEUROct 1999
DOV1VHBATS-CHIXE (BATS 'Chi-X Europe')YesCommon StockGBEUROct 1999

Biography

Dovre Group Plc, together with its subsidiaries, provides project management services worldwide. It operates in two segments, Project Personnel and Consulting. The Project Personnel segment offers project  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/13 20:49
End of Day Share Price2019/12/13 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.