BUSE:APPENINN

Stock Analysis Report

Appeninn Vagyonkezelo Holding Nyrt

Executive Summary

Appeninn Vagyonkezelo Holding Nyrt. operates as an real estate investment company in Hungary.

Snowflake

Fundamentals

Undervalued with solid track record.

Share Price & News

How has Appeninn Vagyonkezelo Holding Nyrt's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-2.1%

APPENINN

-1.0%

HU Real Estate

2.8%

HU Market


1 Year Return

-22.7%

APPENINN

12.8%

HU Real Estate

13.3%

HU Market

Return vs Industry: APPENINN underperformed the Hungarian Real Estate industry which returned 12.8% over the past year.

Return vs Market: APPENINN underperformed the Hungarian Market which returned 13.3% over the past year.


Shareholder returns

APPENINNIndustryMarket
7 Day-2.1%-1.0%2.8%
30 Day-5.2%2.4%1.9%
90 Day-8.9%4.4%2.0%
1 Year-22.7%-22.7%16.6%12.8%16.5%13.3%
3 Year85.6%79.5%34.3%22.7%53.9%41.3%
5 Year131.0%123.4%100.5%67.8%170.1%136.2%

Price Volatility Vs. Market

How volatile is Appeninn Vagyonkezelo Holding Nyrt's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Appeninn Vagyonkezelo Holding Nyrt undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: APPENINN (HUF420) is trading below our estimate of fair value (HUF5092.6)

Significantly Below Fair Value: APPENINN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: APPENINN is good value based on its PE Ratio (2.4x) compared to the Real Estate industry average (11.1x).

PE vs Market: APPENINN is good value based on its PE Ratio (2.4x) compared to the Hungarian market (14.5x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: APPENINN is good value based on its PB Ratio (0.8x) compared to the XE Real Estate industry average (1.1x).


Next Steps

Future Growth

How is Appeninn Vagyonkezelo Holding Nyrt forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

-18.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: APPENINN's earnings are forecast to decline over the next 3 years (-18.9% per year).

Earnings vs Market: APPENINN's earnings are forecast to decline over the next 3 years (-18.9% per year).

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

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

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


Earnings per Share Growth Forecasts


Future Return on Equity

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


Next Steps

Past Performance

How has Appeninn Vagyonkezelo Holding Nyrt performed over the past 5 years?

78.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: APPENINN's earnings have grown significantly by 78.7% per year over the past 5 years.

Accelerating Growth: APPENINN's earnings growth over the past year (680.2%) exceeds its 5-year average (78.7% per year).

Earnings vs Industry: APPENINN earnings growth over the past year (680.2%) exceeded the Real Estate industry 6.2%.


Return on Equity

High ROE: APPENINN's Return on Equity (34%) is considered high.


Return on Assets

ROA vs Industry: APPENINN has a higher Return on Assets than the Real Estate industry average last year.


Return on Capital Employed

ROCE Improving: APPENINN's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Appeninn Vagyonkezelo Holding Nyrt's financial position?


Financial Position Analysis

Short Term Liabilities: APPENINN's short term assets (€7.6M) do not cover its short term liabilities (€8.7M)

Long Term Liabilities: APPENINN's short term assets (7.6M) do not cover its long term liabilities (72.0M)


Debt to Equity History and Analysis

Debt Level: APPENINN's debt to equity ratio (78.2%) is considered high

Reducing Debt: APPENINN's debt to equity ratio has reduced from 230.2% to 78.2% over the past 5 years.

Debt Coverage: APPENINN's debt is well covered by operating cash flow (46.1%).

Interest Coverage: APPENINN's interest payments on its debt are not well covered by EBIT (3x coverage).


Balance Sheet

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

Debt Coverage by Assets: APPENINN's debt is not covered by short term assets (assets are 0.1x debt).


Next Steps

Dividend

What is Appeninn Vagyonkezelo Holding Nyrt's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

company0%marketbottom25%2.1%markettop25%5.6%industryaverage3.0%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

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

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

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

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


Current Payout to Shareholders

Dividend Coverage: APPENINN is not paying a notable dividend for the Hungarian market.


Future Payout to Shareholders

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


Next Steps

Management

What is the CEO of Appeninn Vagyonkezelo Holding Nyrt's salary, the management and board of directors tenure and is there insider trading?

1.8yrs

Average board tenure


CEO

Bernáth Tamás 0

0yrs

Tenure

0

Bernáth Tamás serves as the Member of the Board at Appeninn Vagyonkezelo Holding Nyrt since July 2019 and has been its Chief Executive Officer since October 2019. 


Board Age and Tenure

1.8yrs

Average Tenure

Experienced Board: APPENINN's board of directors are not considered experienced ( 1.8 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


Management Team

  • Zoltán Prutkay

    Chief Financial Officer

    • Tenure: 4.5yrs
    • Compensation: €3.44m
  • Bernáth Tamás

    CEO & Member of the Board

    • Tenure: 0yrs

Board Members

  • Tóth Judit

    Member of the Board

    • Tenure: 1.8yrs
  • Malik Zoltán

    Member of the Board

    • Tenure: 1.8yrs
  • Bernáth Tamás

    CEO & Member of the Board

    • Tenure: 0yrs
  • Guttmann Vilmos

    Member of the Board

    • Tenure: 0yrs
  • Szabó Nóra

    Member of the Board

    • Tenure: 0yrs

Company Information

Appeninn Vagyonkezelo Holding Nyrt's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Appeninn Vagyonkezelo Holding Nyrt
  • Ticker: APPENINN
  • Exchange: BUSE
  • Founded: 2009
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: Ft19.895b
  • Shares outstanding: 47.37m
  • Website: https://www.appeninn.hu

Number of Employees


Location

  • Appeninn Vagyonkezelo Holding Nyrt
  • Bég St. 3-5
  • Budapest
  • 1022
  • Hungary

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
APPENINNBUSE (Budapest Stock Exchange)YesCommon SharesHUHUFJul 2010
0APDB (Deutsche Boerse AG)YesCommon SharesDEEURJul 2010

Biography

Appeninn Vagyonkezelo Holding Nyrt. operates as an real estate investment company in Hungary. Its property portfolio comprises office buildings, as well industrial and logistic real estate properties with  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 21:09
End of Day Share Price2019/10/22 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.