ATSE:VOSYS

Stock Analysis Report

Executive Summary

Vogiatzoglou Systems S.A. provides integrated solutions for store and warehouse furnishing in Greece.

Snowflake

Fundamentals

Flawless balance sheet second-rate dividend payer.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-1.8%

VOSYS

1.1%

GR Trade Distributors

3.4%

GR Market


1 Year Return

-3.5%

VOSYS

35.4%

GR Trade Distributors

26.9%

GR Market

Return vs Industry: VOSYS underperformed the Greek Trade Distributors industry which returned 35.4% over the past year.

Return vs Market: VOSYS underperformed the Greek Market which returned 26.9% over the past year.


Shareholder returns

VOSYSIndustryMarket
7 Day-1.8%1.1%3.4%
30 Day-6.8%-4.2%0.07%
90 Day-4.3%-2.5%0.9%
1 Year0.9%-3.5%39.0%35.4%30.9%26.9%
3 Year88.3%53.8%157.7%107.1%57.3%43.4%
5 Year191.4%138.1%159.1%106.9%-77.8%-78.4%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

13.37x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: VOSYS (€2.2) is trading above our estimate of fair value (€0.49)

Significantly Undervalued: VOSYS is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: VOSYS is good value based on its PE Ratio (13.4x) compared to the Trade Distributors industry average (14.3x).

PE vs Market: VOSYS is good value based on its PE Ratio (13.4x) compared to the Greek market (16.2x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: VOSYS is overvalued based on its PB Ratio (0.9x) compared to the GR Trade Distributors industry average (0.9x).


Next Steps

Future Growth

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

11.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: VOSYS's forecast earnings growth (11.8% per year) is above the savings rate (4.9%).

Earnings vs Market: VOSYS's earnings (11.8% per year) are forecast to grow slower than the Greek market (16.6% per year).

High Growth Earnings: VOSYS's earnings are forecast to grow, but not significantly.

Revenue vs Market: Insufficient data to determine if VOSYS's revenue is forecast to grow faster than the Greek market.

High Growth Revenue: Insufficient data to determine if VOSYS's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if VOSYS's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Vogiatzoglou Systems performed over the past 5 years?

53.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: VOSYS has become profitable over the past 5 years, growing earnings by 53% per year.

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

Earnings vs Industry: VOSYS had negative earnings growth (-32.4%) over the past year, making it difficult to compare to the Trade Distributors industry average (7.9%).


Return on Equity

High ROE: VOSYS's Return on Equity (6.9%) is considered low.


Return on Assets

ROA vs Industry: VOSYS's Return on Assets is below or equal to the Trade Distributors industry average last year.


Return on Capital Employed

ROCE Improving: VOSYS has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Vogiatzoglou Systems's financial position?


Financial Position Analysis

Short Term Liabilities: VOSYS's short term assets (€16.6M) exceeds its short term liabilities (€7.7M)

Long Term Liabilities: VOSYS's short term assets (16.6M) exceeds its long term liabilities (2.6M)


Debt to Equity History and Analysis

Debt Level: VOSYS's debt to equity ratio (21.5%) is considered satisfactory

Reducing Debt: VOSYS's debt to equity ratio has reduced from 24.8% to 21.5% over the past 5 years.

Debt Coverage: VOSYS's debt is well covered by operating cash flow (21.6%).

Interest Coverage: VOSYS's interest payments on its debt are well covered by EBIT (9.1x coverage).


Balance Sheet

Inventory Level: VOSYS has a high level of physical assets or inventory.

Debt Coverage by Assets: VOSYS's debt is covered by short term assets (assets are 5.136720x debt).


Next Steps

Dividend

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

4.68%

Current Dividend Yield


Dividend Yield vs Market

company4.7%marketbottom25%1.9%markettop25%3.7%industryaverage2.6%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: VOSYS's dividend (4.68%) is higher than the bottom 25% of dividend payers in the Greek market (1.89%).

High Dividend: VOSYS's dividend (4.68%) is in the top 25% of dividend payers in the Greek market (3.66%)

Stable Dividend: VOSYS's dividend payments have been volatile in the past 10 years.

Growing Dividend: VOSYS's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (62.6%), VOSYS's dividend 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 Vogiatzoglou Systems's salary, the management and board of directors tenure and is there insider trading?


CEO

Nikolaos Damianou 0

0yrs

Tenure

0

Mr. Nikolaos Vogiatzoglou Damianou serves as Chairman and Managing Director of Voyatzoglou Systems S.A. Mr. Voyatzoglou serves as an Executive Member of Voyatzoglou Systems S.A. He holds a Degree in Busine ...


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


Management Team

  • Anna Nikolaou

    Vice-Chairman

    • Tenure: 0yrs
  • Andreas Georgiou

    Financial & Administrative Manager and Executive Director

    • Tenure: 0yrs
  • Nikolaos Damianou

    Chairman of the Board and Managing Director

    • Tenure: 0yrs
  • Ilias Markesinis

    Chief Accountant

    • Tenure: 0yrs

Board Members

  • Andreas Georgiou

    Independent Non-Executive Director

    • Tenure: 0yrs
  • Anna Nikolaou

    Vice-Chairman

    • Tenure: 0yrs
  • Andreas Georgiou

    Financial & Administrative Manager and Executive Director

    • Tenure: 0yrs
  • Dimitris Georgiou

    Non-Executive Director

    • Tenure: 0yrs
  • Nikolaos Damianou

    Chairman of the Board and Managing Director

    • Tenure: 0yrs
  • Georgios Konstantinou

    Independent Non-Executive Director

    • Tenure: 0yrs
  • Nina Nikolaou

    Non-Executive Director

    • Tenure: 0yrs

Company Information

Vogiatzoglou Systems S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Vogiatzoglou Systems S.A.
  • Ticker: VOSYS
  • Exchange: ATSE
  • Founded: 1992
  • Industry: Trading Companies and Distributors
  • Sector: Capital Goods
  • Market Cap: €13.915m
  • Shares outstanding: 6.33m
  • Website: https://www.voyatzoglou.gr

Location

  • Vogiatzoglou Systems S.A.
  • 12th km. National road Athens-Lamia
  • Metamorfosi
  • Athens
  • 144 51
  • Greece

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VOSYSATSE (The Athens Stock Exchange)YesOrdinary SharesGREUROct 2000

Biography

Vogiatzoglou Systems S.A. provides integrated solutions for store and warehouse furnishing in Greece. The company offers warehouse shelves and equipment, including pallet racks, drive in products, push bac ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/15 20:42
End of Day Share Price2019/10/15 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.