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GEK TERNA Holdings Real Estate Construction

ATSE:GEKTERNA
Snowflake Description

Concerning outlook with poor track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GEKTERNA
ATSE
€503M
Market Cap
  1. Home
  2. GR
  3. Capital Goods
Company description

GEK TERNA Holdings, Real Estate, Construction S.A., together with its subsidiaries, engages in the construction, energy, real estate, industrial, and concession businesses in Greece, the Balkans, the Middle East, Eastern Europe, and North America. The last earnings update was 5 days ago. More info.


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GEKTERNA Share Price and Events
7 Day Returns
2.8%
ATSE:GEKTERNA
3.7%
GR Construction
2.9%
GR Market
1 Year Returns
2.8%
ATSE:GEKTERNA
1.8%
GR Construction
5.1%
GR Market
GEKTERNA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
GEK TERNA Holdings Real Estate Construction (GEKTERNA) 2.8% 7.8% 3.2% 2.8% 157.3% 28%
GR Construction 3.7% 13.5% 10.1% 1.8% 74% -34.3%
GR Market 2.9% 14.5% 14.6% 5.1% 31% -84%
1 Year Return vs Industry and Market
  • GEKTERNA underperformed the Market in Greece which returned 5.1% over the past year.
Price Volatility
GEKTERNA
Industry
5yr Volatility vs Market

GEKTERNA Value

 Is GEK TERNA Holdings Real Estate Construction 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 GEK TERNA Holdings Real Estate Construction 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 GEK TERNA Holdings Real Estate Construction.

ATSE:GEKTERNA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 34.9%
Perpetual Growth Rate 10-Year GR Government Bond Rate 4.9%

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 ATSE:GEKTERNA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GR Govt Bond Rate 4.9%
Equity Risk Premium S&P Global 15%
Construction Unlevered Beta Simply Wall St/ S&P Global 1
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.004 (1 + (1- 29%) (372.61%))
2.783
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 4.93% + (2 * 14.99%)
34.91%

Discounted Cash Flow Calculation for ATSE:GEKTERNA using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for GEK TERNA Holdings Real Estate Construction 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.

ATSE:GEKTERNA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 34.91%)
2019 -90.00 Analyst x1 -66.71
2020 67.55 Analyst x2 37.11
2021 256.00 Analyst x1 104.25
2022 272.00 Analyst x1 82.10
2023 287.57 Est @ 5.72% 64.34
2024 303.35 Est @ 5.49% 50.31
2025 319.49 Est @ 5.32% 39.27
2026 336.12 Est @ 5.2% 30.63
2027 353.33 Est @ 5.12% 23.86
2028 371.23 Est @ 5.07% 18.58
Present value of next 10 years cash flows €383.76
ATSE:GEKTERNA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €371.23 × (1 + 4.93%) ÷ (34.91% – 4.93%)
€1,299.33
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,299.33 ÷ (1 + 34.91%)10
€65.05
ATSE:GEKTERNA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €383.76 + €65.05
€448.80
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €448.80 / 98.17
€4.57
ATSE:GEKTERNA Discount to Share Price
Calculation Result
Value per share (EUR) From above. €4.57
Current discount Discount to share price of €5.12
= -1 x (€5.12 - €4.57) / €4.57
-12%

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

  • The current share price of GEK TERNA Holdings Real Estate Construction 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 GEK TERNA Holdings Real Estate Construction's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are GEK TERNA Holdings Real Estate Construction's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ATSE:GEKTERNA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €0.03
ATSE:GEKTERNA Share Price ** ATSE (2019-06-14) in EUR €5.12
Europe Construction Industry PE Ratio Median Figure of 94 Publicly-Listed Construction Companies 11.12x
Greece Market PE Ratio Median Figure of 97 Publicly-Listed Companies 15.65x

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

** Primary Listing of GEK TERNA Holdings Real Estate Construction.

ATSE:GEKTERNA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ATSE:GEKTERNA Share Price ÷ EPS (both in EUR)

= 5.12 ÷ 0.03

149.51x

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

  • GEK TERNA Holdings Real Estate Construction is overvalued based on earnings compared to the Europe Construction industry average.
  • GEK TERNA Holdings Real Estate Construction is overvalued based on earnings compared to the Greece market.
Price based on expected Growth
Does GEK TERNA Holdings Real Estate Construction's expected growth come at a high price?
Raw Data
ATSE:GEKTERNA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 149.51x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
6.5%per year
Europe Construction Industry PEG Ratio Median Figure of 45 Publicly-Listed Construction Companies 1.23x
Greece Market PEG Ratio Median Figure of 22 Publicly-Listed Companies 1.34x

*Line of best fit is calculated by linear regression .

ATSE:GEKTERNA PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 149.51x ÷ 6.5%

23.02x

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

  • GEK TERNA Holdings Real Estate Construction is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on GEK TERNA Holdings Real Estate Construction's assets?
Raw Data
ATSE:GEKTERNA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €5.00
ATSE:GEKTERNA Share Price * ATSE (2019-06-14) in EUR €5.12
Greece Construction Industry PB Ratio Median Figure of 7 Publicly-Listed Construction Companies 0.55x
Greece Market PB Ratio Median Figure of 138 Publicly-Listed Companies 0.91x
ATSE:GEKTERNA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ATSE:GEKTERNA Share Price ÷ Book Value per Share (both in EUR)

= 5.12 ÷ 5.00

1.02x

* Primary Listing of GEK TERNA Holdings Real Estate Construction.

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

  • GEK TERNA Holdings Real Estate Construction is overvalued based on assets compared to the GR Construction industry average.
X
Value checks
We assess GEK TERNA Holdings Real Estate Construction'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 Construction 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 Construction industry average (and greater than 0)? (1 check)
  5. GEK TERNA Holdings Real Estate Construction has a total score of 0/6, 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.

GEKTERNA Future Performance

 How is GEK TERNA Holdings Real Estate Construction expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

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
6.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is GEK TERNA Holdings Real Estate Construction expected to grow at an attractive rate?
  • GEK TERNA Holdings Real Estate Construction's earnings growth is expected to exceed the low risk savings rate of 4.9%.
Growth vs Market Checks
  • GEK TERNA Holdings Real Estate Construction's earnings growth is positive but not above the Greece market average.
  • GEK TERNA Holdings Real Estate Construction's revenues are expected to decrease over the next 1-3 years, this is below the Greece market average.
Annual Growth Rates Comparison
Raw Data
ATSE:GEKTERNA Future Growth Rates Data Sources
Data Point Source Value (per year)
ATSE:GEKTERNA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 6.5%
ATSE:GEKTERNA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts -2.1%
Europe Construction Industry Earnings Growth Rate Market Cap Weighted Average 12.9%
Europe Construction Industry Revenue Growth Rate Market Cap Weighted Average 2.8%
Greece Market Earnings Growth Rate Market Cap Weighted Average 16.6%
Greece Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*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
ATSE:GEKTERNA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ATSE:GEKTERNA Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,237 346 39 1
2021-12-31 1,277 333 30 1
2020-12-31 1,295 232 67 2
2019-12-31 1,308 263 68 1
ATSE:GEKTERNA Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 1,353 3
2018-12-31 1,403 96 4
2018-09-30 1,338 62
2018-06-30 1,264 -106 42
2018-03-31 1,271 51
2017-12-31 1,186 8 70
2017-09-30 1,191 56 56
2017-06-30 1,187 349 46
2017-03-31 1,135 48
2016-12-31 1,163 311 34
2016-09-30 1,145 341 22
2016-06-30 1,104 180 24

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • GEK TERNA Holdings Real Estate Construction's earnings are expected to grow by 6.5% yearly, however this is not considered high growth (20% yearly).
  • GEK TERNA Holdings Real Estate Construction's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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
ATSE:GEKTERNA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from GEK TERNA Holdings Real Estate Construction Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ATSE:GEKTERNA Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.37 0.37 0.37 1.00
2021-12-31 0.29 0.29 0.29 1.00
2020-12-31 0.43 0.68 0.18 2.00
2019-12-31 0.14 0.14 0.14 1.00
ATSE:GEKTERNA Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 0.03
2018-12-31 0.05
2018-09-30
2018-06-30 0.43
2018-03-31
2017-12-31 0.72
2017-09-30 0.58
2017-06-30 0.47
2017-03-31
2016-12-31 0.35
2016-09-30 0.23
2016-06-30 0.25

*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.
  • GEK TERNA Holdings Real Estate Construction is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess GEK TERNA Holdings Real Estate Construction'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.
GEK TERNA Holdings Real Estate Construction has a total score of 1/6, 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.

GEKTERNA Past Performance

  How has GEK TERNA Holdings Real Estate Construction 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 GEK TERNA Holdings Real Estate Construction's growth in the last year to its industry (Construction).
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.
  • GEK TERNA Holdings Real Estate Construction has delivered over 20% year on year earnings growth in the past 5 years.
  • GEK TERNA Holdings Real Estate Construction's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • GEK TERNA Holdings Real Estate Construction's 1-year earnings growth is negative, it can't be compared to the Europe Construction industry average.
Earnings and Revenue History
GEK TERNA Holdings Real Estate Construction'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 GEK TERNA Holdings Real Estate Construction Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ATSE:GEKTERNA 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 1,352.80 3.37 60.54 1.97
2018-12-31 1,402.70 4.47 62.34 1.57
2018-09-30 1,338.46 61.70 15.53 -0.09
2018-06-30 1,264.09 42.15 56.23 1.93
2018-03-31 1,271.23 51.32 60.95 1.94
2017-12-31 1,185.53 69.82 43.75 1.54
2017-09-30 1,191.02 56.43 35.07 2.05
2017-06-30 1,187.23 45.78 35.34 1.54
2017-03-31 1,135.44 47.83 25.48 1.18
2016-12-31 1,163.48 34.26 34.64 1.68
2016-09-30 1,145.10 22.46 33.69 2.20
2016-06-30 1,104.02 24.07 31.57 2.10
2016-03-31 1,035.07 -6.06 31.34 2.50
2015-12-31 971.77 -14.47 30.17 2.76
2015-09-30 950.00 -69.63 30.75 2.82
2015-06-30 983.99 -75.60 31.55 3.04
2015-03-31 987.54 -55.68 31.58 2.69
2014-12-31 923.89 -61.26 32.66 2.52
2014-09-30 838.98 -37.73 31.38 2.10
2014-06-30 749.10 -52.87 29.53 2.74
2014-03-31 669.57 -69.03 29.54 2.79
2013-12-31 602.88 -85.98 27.91 2.59
2013-09-30 596.90 -98.53 31.60 2.84
2013-06-30 611.24 -86.99 32.96 2.23
2013-03-31 610.39 -71.80 33.80 2.11
2012-12-31 673.33 -52.59 35.33 2.59
2012-09-30 698.87 -9.57 40.84 2.77
2012-06-30 747.51 -4.40 40.26 3.15

*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.
  • GEK TERNA Holdings Real Estate Construction has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • GEK TERNA Holdings Real Estate Construction used its assets less efficiently than the Europe Construction industry average last year based on Return on Assets.
  • GEK TERNA Holdings Real Estate Construction's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess GEK TERNA Holdings Real Estate Construction'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 Construction 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.
GEK TERNA Holdings Real Estate Construction has a total score of 1/6, 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.

GEKTERNA Health

 How is GEK TERNA Holdings Real Estate Construction'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 GEK TERNA Holdings Real Estate Construction's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • GEK TERNA Holdings Real Estate Construction is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • GEK TERNA Holdings Real Estate Construction's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of GEK TERNA Holdings Real Estate Construction'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 not covered by short term assets, assets are 0.7x 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 GEK TERNA Holdings Real Estate Construction Company Filings, last reported 2 months ago.

ATSE:GEKTERNA Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 749.60 1,872.90 484.60
2018-12-31 729.00 1,850.67 524.51
2018-09-30
2018-06-30 808.73 1,944.35 550.70
2018-03-31 768.16 1,955.01 647.42
2017-12-31 768.16 1,955.01 647.42
2017-09-30 650.56 1,251.81 697.08
2017-06-30 635.85 1,097.54 641.41
2017-03-31 598.51 1,030.44 627.69
2016-12-31 598.51 1,030.44 627.69
2016-09-30
2016-06-30 577.56 900.07 342.39
2016-03-31 577.56 900.07 342.39
2015-12-31 562.37 786.93 408.69
2015-09-30 563.31 719.06 420.23
2015-06-30 560.89 738.18 307.68
2015-03-31 576.74 754.21 320.96
2014-12-31 565.95 737.96 353.52
2014-09-30 621.72 694.44 287.40
2014-06-30 630.56 680.50 292.00
2014-03-31 637.73 698.56 270.45
2013-12-31 640.06 785.62 336.06
2013-09-30 562.14 1,054.10 215.59
2013-06-30 571.69 1,061.87 233.62
2013-03-31 577.67 1,075.23 238.47
2012-12-31 577.08 1,109.69 252.23
2012-09-30 629.89 1,153.03 242.27
2012-06-30 640.95 1,085.52 238.38
  • GEK TERNA Holdings Real Estate Construction's level of debt (249.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (109.5% vs 249.9% today).
  • Debt is not well covered by operating cash flow (5.1%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.8x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess GEK TERNA Holdings Real Estate Construction'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. GEK TERNA Holdings Real Estate Construction has a total score of 1/6, 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.

GEKTERNA Dividends

 What is GEK TERNA Holdings Real Estate Construction'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
0%
Current annual income from GEK TERNA Holdings Real Estate Construction dividends. Estimated to be 3.91% next year.
If you bought €2,000 of GEK TERNA Holdings Real Estate Construction shares you are expected to receive €0 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?
  • Unable to evaluate GEK TERNA Holdings Real Estate Construction's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate GEK TERNA Holdings Real Estate Construction's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
ATSE:GEKTERNA 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 2 Analyst Estimates (S&P Global) See Below
Europe Construction Industry Average Dividend Yield Market Cap Weighted Average of 74 Stocks 3.9%
Greece Market Average Dividend Yield Market Cap Weighted Average of 50 Stocks 4.1%
Greece Minimum Threshold Dividend Yield 10th Percentile 1.3%
Greece Bottom 25% Dividend Yield 25th Percentile 1.9%
Greece Top 25% Dividend Yield 75th Percentile 4.1%

Industry and Market average data is calculated daily.

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

ATSE:GEKTERNA Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31 0.20 1.00
2019-12-31 0.20 1.00
ATSE:GEKTERNA Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2014-11-28 0.000 0.000
2014-09-01 0.000 0.000
2014-06-02 0.000 0.000
2014-05-29 0.000 0.000
2014-03-31 0.000 0.000
2011-06-23 0.004 0.395
2011-03-30 0.004 0.180
2011-03-29 0.004 0.126
2010-03-30 0.120 3.103

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

  • Unable to perform a dividend volatility check as GEK TERNA Holdings Real Estate Construction has not reported any payouts.
  • Unable to verify if GEK TERNA Holdings Real Estate Construction's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of GEK TERNA Holdings Real Estate Construction's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as GEK TERNA Holdings Real Estate Construction has not reported any payouts.
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 GEK TERNA Holdings Real Estate Construction's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 GEK TERNA Holdings Real Estate Construction afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. GEK TERNA Holdings Real Estate Construction has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

GEKTERNA Management

 What is the CEO of GEK TERNA Holdings Real Estate Construction'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
George Peristeris
AGE 61
CEO Bio

Mr. Georgios Peristeris, also known as George, serves as Chairman of the Board at GEK TERNA Holdings, Real Estate, Construction S.A. since 2018. Mr. Peristeris joined GEK TERNA Holdings, Real Estate, Construction S.A. in 1981. Mr. Peristeris serves as Managing Director of Terna SA. Mr. Peristeris serves as the Chief Executive Officer of GEK TERNA Holdings, Real Estate, Construction S.A. He serves as the Chief Executive Officer of Terna SA. Mr. Peristeris serves as the chairman of erna Energy SA since. He serves as the Chairman of Terna Energy SA and General Construction Company S.A. Mr. Peristeris serves as an Executive Director of GEK TERNA Holding, Real Estate, and Construction Societe Anonyme. He has been an Executive Director of Terna Energy SA since April 11, 2012. Mr. Peristeris serves as the Chairman of Terna SA. He served as the President of GEK TERNA Holdings, Real Estate, Construction S.A. and served as its Chairman since 1984. Mr. Peristeris served as Vice Chairman and Managing Director of Terna SA. He is a Civil Engineer.

CEO Compensation
  • Insufficient data for George to compare compensation growth.
  • Insufficient data for George to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team

George Peristeris

TITLE
CEO, MD & Chairman
AGE
61

Michael Gourzis

TITLE
Vice Chairman
AGE
78

Angelos Benopoulos

TITLE
Vice Chairman
AGE
60

Konstantinos Vavaletskos

TITLE
Executive Vice Chairman
AGE
62

Christos Zaribas

TITLE
CFO & Finance Director

Nikolaos Valmas

TITLE
Chief Accountant

Dimitrios Antonakos

TITLE
Executive Director
AGE
66

Emmanuel Vrailas

TITLE
Executive Director
AGE
63

Emmanouil Moustakas

TITLE
Executive Director
AGE
44

Dimitra Chatziarseniou

TITLE
Company Secretary
TENURE
1.4 yrs
Board of Directors Tenure

Average tenure and age of the GEK TERNA Holdings Real Estate Construction board of directors in years:

3.2
Average Tenure
61.5
Average Age
  • The tenure for the GEK TERNA Holdings Real Estate Construction board of directors is about average.
Board of Directors

George Peristeris

TITLE
CEO, MD & Chairman
AGE
61
TENURE
0.7 yrs

Michael Gourzis

TITLE
Vice Chairman
AGE
78

Angelos Benopoulos

TITLE
Vice Chairman
AGE
60
TENURE
8 yrs

Konstantinos Vavaletskos

TITLE
Executive Vice Chairman
AGE
62
TENURE
1.4 yrs

Apostolos Tamvakakis

TITLE
Vice Chairman
AGE
60
TENURE
1.9 yrs

Dimitrios Antonakos

TITLE
Executive Director
AGE
66
TENURE
8 yrs

Emmanuel Vrailas

TITLE
Executive Director
AGE
63
TENURE
8 yrs

Emmanouil Moustakas

TITLE
Executive Director
AGE
44
TENURE
8 yrs

George Perdikaris

TITLE
Non-Executive Director
TENURE
3.2 yrs

Gagik Apkarian

TITLE
Independent Non-Executive Director
TENURE
2.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess GEK TERNA Holdings Real Estate Construction'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. GEK TERNA Holdings Real Estate Construction 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.

GEKTERNA News

Simply Wall St News

Should We Be Cautious About GEK TERNA Holdings, Real Estate, Construction S.A.'s (ATH:GEKTERNA) ROE Of 9.3%?

We'll use ROE to examine GEK TERNA Holdings, Real Estate, Construction S.A. … Over the last twelve months GEK TERNA Holdings Real Estate Construction has recorded a ROE of 9.3%. … See our latest analysis for GEK TERNA Holdings Real Estate Construction?

Simply Wall St -

Why GEK TERNA Holdings Real Estate Construction SA's (ATH:GEKTERNA) ROE Of 9.1% Does Not Tell The Whole Story

To keep the lesson grounded in practicality, we'll use ROE to better understand GEK TERNA Holdings Real Estate Construction SA (ATH:GEKTERNA). … GEK TERNA Holdings Real Estate Construction has a ROE of 9.1%, based on the last twelve months. … See our latest analysis for GEK TERNA Holdings Real Estate Construction?

Simply Wall St -

What does GEK TERNA Holdings Real Estate Construction SA's (ATH:GEKTERNA) Balance Sheet Tell Us About Its Future?

Investors are always looking for growth in small-cap stocks like GEK TERNA Holdings Real Estate Construction SA (ATH:GEKTERNA), with a market cap of €487.10m. … However, an important fact which most ignore is: how financially healthy is the business?

Simply Wall St -

Who Are The Largest Shareholders In GEK TERNA Holdings Real Estate, Construction SA. (ATH:GEKTERNA)?

Insider Ownership Another important group of shareholders are company insiders. … With this size of ownership, retail investors can collectively play a role in major company policies that affect shareholders returns, including executive remuneration and the appointment of directors. … Private Company Ownership Another important group of owners for potential investors in GEKTERNA are private companies that hold a stake of 9.88% in GEKTERNA.

Simply Wall St -

Does GEK TERNA Holdings Real Estate, Construction SA.'s (ATH:GEKTERNA) 103.77% Earnings Growth Reflect The Long-Term Trend?

After reading GEK TERNA Holdings Real Estate, Construction SA.'s (ATSE:GEKTERNA) most recent earnings announcement (31 December 2017), I found it useful to look back at how the company has performed in the past and compare this against the latest numbers. … View our latest analysis for GEK TERNA Holdings Real Estate Construction Commentary On GEKTERNA's Past Performance For the purpose of this commentary, I like to use the ‘latest twelve-month’ data, which annualizes the most recent half-year data, or in some cases, the latest annual report is already the most recent financial year data. … Given that these figures are relatively nearsighted, I’ve determined an annualized five-year figure for GEK TERNA Holdings Real Estate Construction's net income, which stands at -€21.59M This means that, generally, GEK TERNA Holdings Real Estate Construction has been able to consistently improve its bottom line over the past few years as well.

Simply Wall St -

Is GEK TERNA Holdings Real Estate, Construction SA.'s (ATH:GEKTERNA) ROE Of 12.34% Sustainable?

See our latest analysis for GEK TERNA Holdings Real Estate Construction What you must know about ROE Firstly, Return on Equity, or ROE, is simply the percentage of last years’ earning against the book value of shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is measured against cost of equity in order to determine the efficiency of GEK TERNA Holdings Real Estate Construction’s equity capital deployed. … GEK TERNA Holdings Real Estate Construction’s above-industry ROE is noteworthy, but it was not high enough to cover its own cost of equity.

Simply Wall St -

Should You Buy GEK TERNA Holdings Real Estate, Construction SA. (ATH:GEKTERNA) At €5.36?

Let’s take a look at GEK TERNA Holdings Real Estate Construction’s outlook and value based on the most recent financial data to see if the opportunity still exists. … Though in the case of GEK TERNA Holdings Real Estate Construction, it is expected to deliver a highly negative revenue growth over the next few years, which doesn’t help build up its investment thesis. … If you are no longer interested in GEK TERNA Holdings Real Estate Construction, you can use our free platform to see my list of over 50 other stocks with a high growth potential.

Simply Wall St -

What You Must Know About GEK TERNA Holdings Real Estate, Construction SA.'s (ATH:GEKTERNA) Financial Strength

GEKTERNA has built up its total debt levels in the last twelve months, from €786.93M to €1.03B – this includes both the current and long-term debt. … Moreover, GEKTERNA has produced €311.18M in operating cash flow during the same period of time, resulting in an operating cash to total debt ratio of 30.20%, indicating that GEKTERNA’s current level of operating cash is high enough to cover debt. … In GEKTERNA's case, the ratio of 4.56x suggests that interest is appropriately covered, which means that lenders may be less hesitant to lend out more funding as GEKTERNA’s high interest coverage is seen as responsible and safe practice.Next Steps: Although GEKTERNA’s debt level is towards the higher end of the spectrum, its cash flow coverage seems adequate to meet obligations which means its debt is being efficiently utilised.

Simply Wall St -

Is It Time To Buy GEK TERNA Holdings Real Estate, Construction SA. (ATH:GEKTERNA) Based Off Its PE Ratio?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for GEKTERNA Price per share = €5.35 Earnings per share = €0.549 ∴ Price-Earnings Ratio = €5.35 ÷ €0.549 = 9.7x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … For example, if you accidentally compared higher growth firms with GEKTERNA, then GEKTERNA’s P/E would naturally be lower since investors would reward its peers’ higher growth with a higher price. … Alternatively, if you inadvertently compared less risky firms with GEKTERNA, GEKTERNA’s P/E would again be lower since investors would reward its peers’ lower risk with a higher price as well.

Simply Wall St -

GEKTERNA Company Info

Description

GEK TERNA Holdings, Real Estate, Construction S.A., together with its subsidiaries, engages in the construction, energy, real estate, industrial, and concession businesses in Greece, the Balkans, the Middle East, Eastern Europe, and North America. It is involved in the construction of railway and highway networks, office buildings, hospitals, museums, resorts, hydro-electric plants, dams, harbors, industrial facilities, power plants, etc. for public and private sectors; and the financing, management, and commercial exploitation of concession projects, such as motorways and parking stations. The company also produces electricity through wind, solar, hydropower, and biomass with an installed capacity of 1,232 megawatts. In addition, it engages in the acquisition, investment, development, and exploitation of real estate properties, including business and logistic centers, industrial and entertainment parks, residential and commercial properties, hotels, parking stations, etc. Further, the company is involved in the production of quarry products; the extraction and processing of magnesite products; and the operation of Borovets Euphoria Club Hotel & Spa in Bulgaria. It owns two thermal power plants with a total installed capacity of 147 MW and 435 MW in Viotia, Greece. The company was formerly known as Ermis Real Estate Constructions Enterprises S.A. and changed its name to GEK TERNA Holdings, Real Estate, Construction S.A. in 2008. GEK TERNA Holdings, Real Estate, Construction S.A. was founded in 1960 and is headquartered in Athens, Greece.

Details
Name: GEK TERNA Holdings, Real Estate, Construction S.A.
GEKTERNA
Exchange: ATSE
Founded: 1960
€502,648,826
98,173,599
Website: http://www.gekterna.com
Address: GEK TERNA Holdings, Real Estate, Construction S.A.
85, Mesogeion Avenue,
Athens,
115 26,
Greece
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ATSE GEKTERNA Common Shares The Athens Stock Exchange GR EUR 28. Jul 1993
OTCPK GKTR.F Common Shares Pink Sheets LLC US USD 28. Jul 1993
DB 1GT Common Shares Deutsche Boerse AG DE EUR 28. Jul 1993
LSE 0JT4 Common Shares London Stock Exchange GB EUR 28. Jul 1993
Number of employees
Current staff
Staff numbers
4,538
GEK TERNA Holdings Real Estate Construction employees.
Industry
Construction and Engineering
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/15 20:41
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/06/05
Last earnings filing: 2019/06/10
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.