ENXTAM:NIBC

Stock Analysis Report

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Executive Summary

NIBC Holding N.V. provides corporate and retail banking products and services in the Netherlands, Germany, Belgium, the United Kingdom, and the Nordics. More Details


Snowflake Analysis

Undervalued with mediocre balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: NIBC is less volatile than 75% of Dutch stocks over the past 3 months, typically moving +/- 0% a week.

Volatility Over Time: NIBC's weekly volatility has decreased from 8% to 0% over the past year.


Market Performance


7 Day Return

0.1%

NIBC

1.5%

NL Banks

0.1%

NL Market


1 Year Return

4.2%

NIBC

-21.8%

NL Banks

-2.2%

NL Market

Return vs Industry: NIBC exceeded the Dutch Banks industry which returned -21.8% over the past year.

Return vs Market: NIBC exceeded the Dutch Market which returned -2.2% over the past year.


Shareholder returns

NIBCIndustryMarket
7 Day0.1%1.5%0.1%
30 Day0.5%18.8%9.4%
90 Day1.4%12.7%8.1%
1 Year4.2%4.2%-20.9%-21.8%0.1%-2.2%
3 Yearn/a-29.0%-36.2%8.1%-2.7%
5 Yearn/a-19.4%-37.7%34.3%10.0%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

32.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: NIBC (€7.47) is trading below our estimate of fair value (€11.07)

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


Price To Earnings Ratio

PE vs Industry: NIBC is good value based on its PE Ratio (9.6x) compared to the XE Banks industry average (10.8x).

PE vs Market: NIBC is good value based on its PE Ratio (9.6x) compared to the Dutch market (24.4x).


Price to Earnings Growth Ratio

PEG Ratio: NIBC is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: NIBC's PB Ratio (0.6x) is in line with the XE Banks industry average.


Next Steps

Future Growth

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

14.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NIBC's forecast earnings growth (14.3% per year) is above the savings rate (0.4%).

Earnings vs Market: NIBC's earnings (14.3% per year) are forecast to grow slower than the Dutch market (27.9% per year).

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

Revenue vs Market: NIBC's revenue (6% per year) is forecast to grow slower than the Dutch market (9.6% per year).

High Growth Revenue: NIBC's revenue (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 NIBC's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has NIBC Holding performed over the past 5 years?

25.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: NIBC has high quality earnings.

Growing Profit Margin: NIBC's current net profit margins (29%) are lower than last year (44%).


Past Earnings Growth Analysis

Earnings Trend: NIBC has become profitable over the past 5 years, growing earnings by 25.8% per year.

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

Earnings vs Industry: NIBC had negative earnings growth (-47.2%) over the past year, making it difficult to compare to the Banks industry average (-16.5%).


Return on Equity

High ROE: NIBC's Return on Equity (6.2%) is considered low.


Next Steps

Financial Health

How is NIBC Holding's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: NIBC's Assets to Equity ratio (10.9x) is moderate.

Allowance for Bad Loans: NIBC has a low allowance for bad loans (38%).

Low Risk Liabilities: 57% of NIBC's liabilities are made up of primarily low risk sources of funding.

Loan Level: NIBC has an appropriate level of Loans to Assets ratio (77%).

Low Risk Deposits: NIBC's Loans to Deposits ratio (148%) is high.

Level of Bad Loans: NIBC has a high level of bad loans (3.2%).


Next Steps

Dividend

What is NIBC Holding current dividend yield, its reliability and sustainability?

7.70%

Forecast Dividend Yield


Dividend Yield vs Market

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

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


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: NIBC is not paying a notable dividend for the Dutch market.


Future Payout to Shareholders

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


Next Steps

Management

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

10.6yrs

Average management tenure


CEO

Paulus A. de Wilt (56 yo)

6.58yrs

Tenure

€1,284,314

Compensation

Mr. Paulus A. M. de Wilt is Chairman of Management Board at NIBC Bank NV since 2020. Mr. de Wilt is the Chief Executive Officer and has been Chairman of the Managing Board at NIBC Holding NV since 2014. He...


CEO Compensation Analysis

Compensation vs Market: Paulus A.'s total compensation ($USD1.52M) is about average for companies of similar size in the Dutch market ($USD1.83M).

Compensation vs Earnings: Paulus A.'s compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Paulus A. de Wilt
Chairman of the Managing Board & CEO6.58yrs€1.28m0.32%
€ 3.4m
Herman Hendrik Dijkhuizen
Vice Chairman of the Managing Board & CFOno data€948.74k0.21%
€ 2.2m
Reinout D. Van Riel
Chief Risk Officer & Member of the Managing Board4.25yrs€939.97k0.18%
€ 1.9m
Hans Rijnberg
Head of Corporate Communicationsno datano datano data
Hein Godschalx
Managing Director of Food Agri & Retail Clients17.92yrsno datano data
Jan H. W. Van Der Vlist
Managing Directorno datano datano data
Kees Visser
Managing Directorno datano datano data
Jean Spanjersberg
Managing Directorno datano datano data
Eric Snaterse
Managing Directorno datano datano data
Agnes Muskens
Managing Director14.58yrsno datano data
Darren Kyte
Managing Directorno datano datano data
Marc The
Managing Directorno datano datano data

10.6yrs

Average Tenure

58yo

Average Age

Experienced Management: NIBC's management team is seasoned and experienced (10.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Adrianus Scheepbouwer
Senior Board Advisorno datano datano data
James Flowers
Member of Supervisory Board8.83yrs€51.26kno data
Dirk Boogmans
Senior Board Advisorno datano datano data
Angelien G. Kemna
Independent Vice-Chairman of Supervisory Board1.5yrs€103.37kno data
Dick Sluimers
Independent Chairman of Supervisory Board1.58yrs€123.00kno data
Ronald Slaats
Senior Board Advisorno datano datano data
J. Baptiest Coopmans
Senior Board Advisorno datano datano data
Michael Christner
Independent Supervisory Board Member9.83yrs€61.51k0.014%
€ 149.4k
Arnoud Boot
Senior Board Advisorno datano datano data
Hein Verloop
Senior Board Advisorno datano datano data
Marnix Krop
Senior Board Advisorno datano datano data
Jeroen Joseph Kremers
Member of the Supervisory Board1.25yrs€34.11kno data

1.6yrs

Average Tenure

63yo

Average Age

Experienced Board: NIBC's board of directors are not considered experienced ( 1.6 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

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


Top Shareholders

Company Information

NIBC Holding N.V.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: NIBC Holding N.V.
  • Ticker: NIBC
  • Exchange: ENXTAM
  • Founded: 1945
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €1.087b
  • Shares outstanding: 145.50m
  • Website: https://www.nibc.com

Number of Employees


Location

  • NIBC Holding N.V.
  • Carnegieplein 4
  • The Hague
  • Zuid-Holland
  • 2517 KJ
  • Netherlands

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NIBCENXTAM (Euronext Amsterdam)YesOrdinary A SharesNLEURMar 2018
4NHDB (Deutsche Boerse AG)YesOrdinary A SharesDEEURMar 2018
NIBCABATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary A SharesGBEURMar 2018
0A34LSE (London Stock Exchange)YesOrdinary A SharesGBEURMar 2018

Biography

NIBC Holding N.V. provides corporate and retail banking products and services in the Netherlands, Germany, Belgium, the United Kingdom, and the Nordics. It operates through Corporate Client Offering, Retai...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/23 22:13
End of Day Share Price2020/11/23 00:00
Earnings2020/06/30
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.