ENXTAM:HEIJM

Stock Analysis Report

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Executive Summary

Heijmans N.V. engages in the property development, residential and non-residential building, and infrastructure businesses primarily in the Netherlands, Belgium, and Germany. More Details


Snowflake Analysis

Flawless balance sheet and undervalued.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: HEIJM has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

3.4%

HEIJM

-1.6%

NL Construction

-2.1%

NL Market


1 Year Return

1.9%

HEIJM

-6.2%

NL Construction

-9.4%

NL Market

Return vs Industry: HEIJM exceeded the Dutch Construction industry which returned -6.2% over the past year.

Return vs Market: HEIJM exceeded the Dutch Market which returned -9.4% over the past year.


Shareholder returns

HEIJMIndustryMarket
7 Day3.4%-1.6%-2.1%
30 Day6.6%10.4%2.9%
90 Day26.1%12.8%-2.2%
1 Year1.9%1.9%-6.2%-6.2%-7.1%-9.4%
3 Year-12.7%-12.7%-29.4%-33.3%-2.0%-11.9%
5 Year-0.1%-0.1%-40.8%-47.7%27.1%4.2%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Heijmans 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: HEIJM (€7.64) is trading below our estimate of fair value (€160.32)

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


Price To Earnings Ratio

PE vs Industry: HEIJM is good value based on its PE Ratio (5.4x) compared to the XE Construction industry average (10.3x).

PE vs Market: HEIJM is good value based on its PE Ratio (5.4x) compared to the Dutch market (21.3x).


Price to Earnings Growth Ratio

PEG Ratio: HEIJM's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: HEIJM is good value based on its PB Ratio (0.8x) compared to the NL Construction industry average (1x).


Next Steps

Future Growth

How is Heijmans forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-10.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HEIJM's earnings are forecast to decline over the next 3 years (-10.7% per year).

Earnings vs Market: HEIJM's earnings are forecast to decline over the next 3 years (-10.7% per year).

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

Revenue vs Market: HEIJM's revenue is expected to decline over the next 3 years (-5.4% per year).

High Growth Revenue: HEIJM's revenue is forecast to decline over the next 3 years (-5.4% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: HEIJM's Return on Equity is forecast to be low in 3 years time (8.5%).


Next Steps

Past Performance

How has Heijmans performed over the past 5 years?

56.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: HEIJM has high quality earnings.

Growing Profit Margin: HEIJM's current net profit margins (1.8%) are lower than last year (1.8%).


Past Earnings Growth Analysis

Earnings Trend: HEIJM has become profitable over the past 5 years, growing earnings by 56.8% per year.

Accelerating Growth: HEIJM's earnings growth over the past year (9.3%) is below its 5-year average (56.8% per year).

Earnings vs Industry: HEIJM earnings growth over the past year (9.3%) exceeded the Construction industry 2.1%.


Return on Equity

High ROE: HEIJM's Return on Equity (15%) is considered low.


Next Steps

Financial Health

How is Heijmans's financial position?


Financial Position Analysis

Short Term Liabilities: HEIJM's short term assets (€572.0M) exceed its short term liabilities (€564.0M).

Long Term Liabilities: HEIJM's short term assets (€572.0M) exceed its long term liabilities (€132.0M).


Debt to Equity History and Analysis

Debt Level: HEIJM's debt to equity ratio (24.5%) is considered satisfactory.

Reducing Debt: HEIJM's debt to equity ratio has reduced from 62.2% to 24.5% over the past 5 years.

Debt Coverage: HEIJM's debt is well covered by operating cash flow (175.7%).

Interest Coverage: HEIJM's interest payments on its debt are well covered by EBIT (8.2x coverage).


Balance Sheet


Next Steps

Dividend

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

3.66%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: HEIJM's dividend (3.66%) is higher than the bottom 25% of dividend payers in the Dutch market (2.19%).

High Dividend: HEIJM's dividend (3.66%) is low compared to the top 25% of dividend payers in the Dutch market (6.26%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (19.9%), HEIJM's dividend payments are well 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

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

1.8yrs

Average board tenure


CEO

Ton Hillen (59 yo)

3.83yrs

Tenure

€1,279,630

Compensation

Mr. A. G. J. Hillen, also known as Ton, has been Chairman of Executive Board and Chief Executive Officer at Heijmans NV since December 1, 2016. Mr. Hillen serves as Corporate Director Property Development ...


CEO Compensation Analysis

Compensation vs Market: Ton's total compensation ($USD1.51M) is above average for companies of similar size in the Dutch market ($USD913.83K).

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


Board Members

NamePositionTenureCompensationOwnership
Sjoerd Vollebregt
Independent Chairman of Supervisory Board4.5yrs€60.00k0.057%
€ 95.5k
Ron Icke
Independent Vice Chairman of Supervisory Board5.17yrs€53.00kno data
Gerrit Witzel
Member of Supervisory Board0.50yrno data0.026%
€ 43.3k
Martika Jonk
Independent Member of Supervisory Board1.83yrs€49.00kno data
J. W. M. Vosmer
Member of Supervisory Board0.50yrno datano data

1.8yrs

Average Tenure

63yo

Average Age

Experienced Board: HEIJM's board of directors are not considered experienced ( 1.8 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 been diluted in the past year, with total shares outstanding growing by 2.4%.


Top Shareholders

Company Information

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


Key Information

  • Name: Heijmans N.V.
  • Ticker: HEIJM
  • Exchange: ENXTAM
  • Founded: 1923
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Market Cap: €167.572m
  • Shares outstanding: 21.93m
  • Website: https://www.heijmans.nl

Number of Employees


Location

  • Heijmans N.V.
  • Graafsebaan 65
  • Rosmalen
  • Noord-Brabant
  • 5248 JT
  • Netherlands

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HEIJMENXTAM (Euronext Amsterdam)YesOrdinary SharesNLEURSep 1993
HJN1DB (Deutsche Boerse AG)YesOrdinary SharesDEEURSep 1993
HJMN.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDSep 1993
0M6ILSE (London Stock Exchange)YesOrdinary SharesGBEURSep 1993
HEIJMABATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURSep 1993

Biography

Heijmans N.V. engages in the property development, residential and non-residential building, and infrastructure businesses primarily in the Netherlands, Belgium, and Germany. The company focuses on the dev ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/25 21:35
End of Day Share Price2020/10/23 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.