LSE:0R8U

Stock Analysis Report

Executive Summary

Pandox AB (publ) engages in the ownership, management, operation, and lease of a portfolio of hotel properties.


Snowflake Analysis

Fair value with imperfect balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: 0R8U's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

20.7%

0R8U

16.1%

GB Hospitality

8.6%

GB Market


1 Year Return

-44.9%

0R8U

-16.8%

GB Hospitality

-19.4%

GB Market

Return vs Industry: 0R8U underperformed the UK Hospitality industry which returned -16.8% over the past year.

Return vs Market: 0R8U underperformed the UK Market which returned -19.4% over the past year.


Shareholder returns

0R8UIndustryMarket
7 Day20.7%16.1%8.6%
30 Day-30.9%-7.2%-3.5%
90 Day-56.8%-27.2%-23.0%
1 Year-44.9%-44.9%-14.6%-16.8%-15.5%-19.4%
3 Year-32.8%-36.6%-8.9%-18.0%-8.8%-19.9%
5 Yearn/a7.2%-9.4%4.2%-19.0%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

6.12x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 0R8U (SEK92) is trading above our estimate of fair value (SEK46.22)

Significantly Below Fair Value: 0R8U is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 0R8U is good value based on its PE Ratio (6.1x) compared to the Hospitality industry average (19.4x).

PE vs Market: 0R8U is good value based on its PE Ratio (6.1x) compared to the UK market (13.6x).


Price to Earnings Growth Ratio

PEG Ratio: 0R8U's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: 0R8U is good value based on its PB Ratio (0.7x) compared to the GB Hospitality industry average (1x).


Next Steps

Future Growth

How is Pandox forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

-5.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 0R8U's earnings are forecast to decline over the next 3 years (-5.7% per year).

Earnings vs Market: 0R8U's earnings are forecast to decline over the next 3 years (-5.7% per year).

High Growth Earnings: 0R8U's earnings are forecast to decline over the next 3 years.

Revenue vs Market: 0R8U's revenue (3.8% per year) is forecast to grow faster than the UK market (2.5% per year).

High Growth Revenue: 0R8U's revenue (3.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 0R8U's Return on Equity is forecast to be low in 3 years time (7%).


Next Steps

Past Performance

How has Pandox performed over the past 5 years?

13.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 0R8U has a large one-off gain of SEK1.5B impacting its December 31 2019 financial results.

Growing Profit Margin: 0R8U's current net profit margins (48.7%) are lower than last year (55%).


Past Earnings Growth Analysis

Earnings Trend: 0R8U's earnings have grown by 13.4% per year over the past 5 years.

Accelerating Growth: 0R8U's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 0R8U had negative earnings growth (-4%) over the past year, making it difficult to compare to the Hospitality industry average (-10.9%).


Return on Equity

High ROE: 0R8U's Return on Equity (10.2%) is considered low.


Next Steps

Financial Health

How is Pandox's financial position?


Financial Position Analysis

Short Term Liabilities: 0R8U's short term assets (SEK1.7B) do not cover its short term liabilities (SEK7.4B).

Long Term Liabilities: 0R8U's short term assets (SEK1.7B) do not cover its long term liabilities (SEK31.8B).


Debt to Equity History and Analysis

Debt Level: 0R8U's debt to equity ratio (114.4%) is considered high.

Reducing Debt: 0R8U's debt to equity ratio has reduced from 132.7% to 114.4% over the past 5 years.

Debt Coverage: 0R8U's debt is not well covered by operating cash flow (6.4%).

Interest Coverage: 0R8U's interest payments on its debt are well covered by EBIT (3.4x coverage).


Balance Sheet


Next Steps

Dividend

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

3.61%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 0R8U's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 0R8U's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 0R8U's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 0R8U's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: 0R8U is not paying a notable dividend for the UK market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 0R8U's dividend in 3 years as they are not forecast to pay a notable one for the UK market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

13.8yrs

Average management tenure


CEO

Anders Nissen (62yo)

25.25s

Tenure

kr7,675,000

Compensation

Mr. Anders Nissen has been Chief Executive Officer of Pandox AB., since 1995 and serves as its President. Mr. Nissen was one of the initiators to form Pandox AB and has been its Managing Director since it  ...


CEO Compensation Analysis

Compensation vs Market: Anders's total compensation ($USD0.00) is below average for companies of similar size in the UK market ($USD1.86M).

Compensation vs Earnings: Insufficient data to compare Anders's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Anders Nissen
CEO & President25.25yrskr7.68m0.40% SEK72.3m
Liia Nõu
Senior Executive VP & CFO13.25yrsno data0.0075% SEK1.3m
Aldert Schaaphok
Senior VP & Director of International Operations16.25yrsno datano data
Anders Berg
Senior VP & Head of Communications and IR4.25yrsno datano data
Karmen Bergholcs
Senior VP & General Counsel3.42yrsno datano data
Louise Ceder
Head of Property Supportno datano datano data
Jonas Törner
Senior VP of Business Intelligence15.17yrsno datano data
Erik Hvesser
Senior VP & Director of Property Management - Nordics14.25yrsno datano data
Martin Creydt
Senior VP & Director of Property Management International3.25yrsno data0.00054% SEK96.7k
Cornelia Kausch
Vice President of Development for Pandox Operationsno datano datano data

13.8yrs

Average Tenure

52yo

Average Age

Experienced Management: 0R8U's management team is seasoned and experienced (13.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Bengt Kjell
Deputy Independent Chairman of the Board2yrskr670.00k0.0011% SEK195.2k
Christian Ringnes
Chairman of the Board16.25yrskr850.00kno data
Ann-Sofi Danielsson
Independent Director4.42yrskr530.00k0.00054% SEK96.7k
Jakob Iqbal
Directorno datano datano data
Jeanette Kvisvik
Independent Director3.08yrskr400.00kno data
Jon Aurdal
Director2yrskr470.00k0.0011% SEK195.2k
Jacob Iqbal
Directorno datano datano data

3.1yrs

Average Tenure

53.5yo

Average Age

Experienced Board: 0R8U's board of directors are considered experienced (3.1 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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Pandox AB (publ)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Pandox AB (publ)
  • Ticker: 0R8U
  • Exchange: LSE
  • Founded: 1995
  • Industry: Hotels, Resorts and Cruise Lines
  • Sector: Consumer Services
  • Market Cap: kr17.907b
  • Shares outstanding: 183.85m
  • Website: https://www.pandox.se

Number of Employees


Location

  • Pandox AB (publ)
  • Vasagatan 11
  • 9th Floor
  • Stockholm
  • Stockholm County
  • 101 20
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PNDX BOM (OMX Nordic Exchange Stockholm)YesClass B SharesSESEKJun 2015
PNDXBsBATS-CHIXE (BATS 'Chi-X Europe')YesClass B SharesGBSEKJun 2015
0R8ULSE (London Stock Exchange)YesClass B SharesGBSEKJun 2015
POXDB (Deutsche Boerse AG)YesClass B SharesDEEURJun 2015

Biography

Pandox AB (publ) engages in the ownership, management, operation, and lease of a portfolio of hotel properties. The company operates through Property Management and Operator Activities segments. As of January 31, 2020, it had 156 hotels with approximately 35,000 hotel rooms in 15 countries. The company was founded in 1995 and is based in Stockholm, Sweden. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/10 06:15
End of Day Share Price2020/04/09 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.