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KOEI

Koncar - Elektroindustrija d.d ZGSE:KOEI Stock Report

Last Price

Kn870.00

Market Cap

Kn2.2b

7D

-1.1%

1Y

20.0%

Updated

02 Oct, 2022

Data

Company Financials +
KOEI fundamental analysis
Snowflake Score
Valuation2/6
Future Growth2/6
Past Performance4/6
Financial Health4/6
Dividends2/6

KOEI Stock Overview

Koncar - Elektroindustrija d.d. manufactures and sells equipment and plants for the generation, transmission, and distribution of electrical energy in Croatia.

Koncar - Elektroindustrija d.d Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Koncar - Elektroindustrija d.d
Historical stock prices
Current Share PriceKn870.00
52 Week HighKn980.00
52 Week LowKn725.00
Beta0.53
1 Month Change0.58%
3 Month Change0%
1 Year Change20.00%
3 Year Change38.10%
5 Year Change31.81%
Change since IPO-13.69%

Recent News & Updates

Shareholder Returns

KOEIHR ElectricalHR Market
7D-1.1%0.6%-2.5%
1Y20.0%-24.5%-3.0%

Return vs Industry: KOEI exceeded the HR Electrical industry which returned -24.5% over the past year.

Return vs Market: KOEI exceeded the HR Market which returned -3% over the past year.

Price Volatility

Is KOEI's price volatile compared to industry and market?
KOEI volatility
KOEI Average Weekly Movement2.5%
Electrical Industry Average Movement6.1%
Market Average Movement3.8%
10% most volatile stocks in HR Market8.6%
10% least volatile stocks in HR Market2.0%

Stable Share Price: KOEI is less volatile than 75% of HR stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: KOEI's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19214,813Gordan Kolakhttps://www.koncar.hr

Koncar - Elektroindustrija d.d. manufactures and sells equipment and plants for the generation, transmission, and distribution of electrical energy in Croatia. It offer generators; block, instrument, power, and distribution transformers; excitation systems; high voltage apparatus and switchgear; metal-enclosed gas-insulated switchgear; medium voltage switchgear; AC and DC uninterruptible power supply system; shielded, aluminum, and copper busbars; steel structures; medium appliances; ripple control systems; protection relays; substations MV/LV; and control and monitoring equipment, as well as monitoring of rotating machines and transformers for hydro power and thermal plants, and substations. The company also provides wind turbine, generators, static frequency convertor, wind turbine control system, and welded construction equipment for wind power plants; and transport equipment.

Koncar - Elektroindustrija d.d Fundamentals Summary

How do Koncar - Elektroindustrija d.d's earnings and revenue compare to its market cap?
KOEI fundamental statistics
Market CapKn2.21b
Earnings (TTM)Kn254.69m
Revenue (TTM)Kn4.07b

8.7x

P/E Ratio

0.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
KOEI income statement (TTM)
RevenueKn4.07b
Cost of RevenueKn2.78b
Gross ProfitKn1.29b
Other ExpensesKn1.03b
EarningsKn254.69m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)100.06
Gross Margin31.67%
Net Profit Margin6.26%
Debt/Equity Ratio17.9%

How did KOEI perform over the long term?

See historical performance and comparison

Dividends

1.5%

Current Dividend Yield

13%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is KOEI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for KOEI?

Other financial metrics that can be useful for relative valuation.

KOEI key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.6x
Enterprise Value/EBITDA7.9x
PEG Ratio1.2x

Price to Earnings Ratio vs Peers

How does KOEI's PE Ratio compare to its peers?

KOEI PE Ratio vs Peers
The above table shows the PE ratio for KOEI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average25.3x
KODT Koncar - distributivni i specijalni transformatori d.d
9.3xn/aKn1.1b
ADRS Adris grupa d. d
17x9.7%Kn6.3b
SIFG Sif Holding
27x14.3%€247.1m
300786 Qingdao Guolin Environmental TechnologyLtd
48x51.8%CN¥2.4b
KOEI Koncar - Elektroindustrija d.d
8.7x7.2%Kn2.2b

Price-To-Earnings vs Peers: KOEI is good value based on its Price-To-Earnings Ratio (8.7x) compared to the peer average (25.3x).


Price to Earnings Ratio vs Industry

How does KOEI's PE Ratio compare vs other companies in the European Electrical Industry?

Price-To-Earnings vs Industry: KOEI is good value based on its Price-To-Earnings Ratio (8.7x) compared to the European Electrical industry average (18.8x)


Price to Earnings Ratio vs Fair Ratio

What is KOEI's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

KOEI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.7x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate KOEI's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of KOEI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: KOEI (HRK870) is trading above our estimate of fair value (HRK194.97)

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


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Koncar - Elektroindustrija d.d forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


7.2%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KOEI's forecast earnings growth (7.2% per year) is above the savings rate (1.5%).

Earnings vs Market: KOEI's earnings (7.2% per year) are forecast to grow slower than the HR market (8.6% per year).

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

Revenue vs Market: KOEI's revenue (10.6% per year) is forecast to grow faster than the HR market (4.7% per year).

High Growth Revenue: KOEI's revenue (10.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

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


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Past Performance

How has Koncar - Elektroindustrija d.d performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


18.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: KOEI has a large one-off gain of HRK124.5M impacting its June 30 2022 financial results.

Growing Profit Margin: KOEI's current net profit margins (6.3%) are higher than last year (3.5%).


Past Earnings Growth Analysis

Earnings Trend: KOEI's earnings have grown by 18.4% per year over the past 5 years.

Accelerating Growth: KOEI's earnings growth over the past year (127.5%) exceeds its 5-year average (18.4% per year).

Earnings vs Industry: KOEI earnings growth over the past year (127.5%) exceeded the Electrical industry 13.6%.


Return on Equity

High ROE: KOEI's Return on Equity (11.5%) is considered low.


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Financial Health

How is Koncar - Elektroindustrija d.d's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: KOEI's short term assets (HRK3.7B) exceed its short term liabilities (HRK2.1B).

Long Term Liabilities: KOEI's short term assets (HRK3.7B) exceed its long term liabilities (HRK473.7M).


Debt to Equity History and Analysis

Debt Level: KOEI has more cash than its total debt.

Reducing Debt: KOEI's debt to equity ratio has increased from 8.1% to 17.9% over the past 5 years.

Debt Coverage: KOEI's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: KOEI's interest payments on its debt are well covered by EBIT (148x coverage).


Balance Sheet


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Dividend

What is Koncar - Elektroindustrija d.d current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


1.49%

Current Dividend Yield

Dividend Yield vs Market

Koncar - Elektroindustrija d.d Dividend Yield vs Market
How does Koncar - Elektroindustrija d.d dividend yield compare to the market?
SegmentDividend Yield
Company (Koncar - Elektroindustrija d.d)1.5%
Market Bottom 25% (HR)2.3%
Market Top 25% (HR)5.0%
Industry Average (Electrical)2.4%
Analyst forecast in 3 Years (Koncar - Elektroindustrija d.d)2.1%

Notable Dividend: KOEI's dividend (1.49%) isn’t notable compared to the bottom 25% of dividend payers in the HR market (2.34%).

High Dividend: KOEI's dividend (1.49%) is low compared to the top 25% of dividend payers in the HR market (4.96%).


Stability and Growth of Payments

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

Growing Dividend: KOEI's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (13%), KOEI's dividend payments are thoroughly covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: KOEI is paying a dividend but the company has no free cash flows.


Discover strong dividend paying companies

Management

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

2.7yrs

Average management tenure


CEO

Gordan Kolak

2.75yrs

Tenure

Mr. Gordan Kolak serves as President of Management Board at Koncar – Elektroindustrija d.d. since July 1, 2020 and its Member of Management Board. He served as Deputy President of Management Board at Konca...


Leadership Team

Experienced Management: KOEI's management team is considered experienced (2.7 years average tenure).


Board Members

Experienced Board: KOEI's board of directors are not considered experienced ( 2.1 years average tenure), which suggests a new board.


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.


Ownership Breakdown

What is the ownership structure of KOEI?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders47,0701.8%
State or Government68,1612.7%
General Public355,74414.0%
Institutions2,074,47481.5%

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


Top Shareholders

Top 14 shareholders own 86.02% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
28.47%
Hrvatsko mirovinsko investicijsko drustvo d.o.o.
724,566HRK630.4m0%63.91%
18.11%
PBZ Croatia Osiguranje d.d.
460,924HRK401.0m0.5%10.45%
15.95%
Allianz ZB d.o.o.
405,880HRK353.1m0%6.19%
15.65%
ERSTE d.o.o. - drustvo za upravljanje obveznim i dobrovoljnim mirovinskim fondovima
398,421HRK346.6m0%12.53%
2.68%
Croatia
68,161HRK59.3m-0.75%no data
1.87%
Raiffeisen drustvo za upravljanje obveznim i dobrovoljnim mirovinskim fondovima d.d.
47,584HRK41.4m0%1.19%
0.98%
Kristijan Floricic
24,950HRK21.7m0%no data
0.87%
OTP Invest d.o.o.
22,120HRK19.2m0%34.34%
0.87%
Branislav Zec
22,120HRK19.2m0%no data
0.42%
Triglav Skladi d. o. o.
10,573HRK9.2m0%0.13%
0.11%
Eaton Vance Management
2,743HRK2.4m0%no data
0.033%
SKY Asset Management
844HRK734.3k0%1.54%
0.027%
Security Kapitalanlage AG
690HRK600.3k0%0.01%
0.0051%
Expat Asset Management Ead
129HRK112.2k0%0.03%

Company Information

Koncar - Elektroindustrija d.d.'s employee growth, exchange listings and data sources


Key Information

  • Name: Koncar - Elektroindustrija d.d.
  • Ticker: KOEI
  • Exchange: ZGSE
  • Founded: 1921
  • Industry: Heavy Electrical Equipment
  • Sector: Capital Goods
  • Implied Market Cap: Kn2.215b
  • Shares outstanding: 2.55m
  • Website: https://www.koncar.hr

Number of Employees


Location

  • Koncar - Elektroindustrija d.d.
  • Fallerovo Šetalište 22
  • Zagreb
  • 10000
  • Croatia


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KOEIZGSE (Zagreb Stock Exchange)YesOrdinary SharesHRHRKAug 1997

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/02 00:00
End of Day Share Price2022/09/28 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.