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GrandVision

ENXTAM:GVNV
Snowflake Description

Adequate balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GVNV
ENXTAM
€5B
Market Cap
  1. Home
  2. NL
  3. Retail
Company description

GrandVision N.V., together with its subsidiaries, operates optical retail chains in the Netherlands and internationally. The last earnings update was 102 days ago. More info.


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GVNV Share Price and Events
7 Day Returns
-0.1%
ENXTAM:GVNV
-1.9%
Europe Specialty Retail
-0.4%
NL Market
1 Year Returns
1%
ENXTAM:GVNV
-13.1%
Europe Specialty Retail
-1.1%
NL Market
GVNV Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
GrandVision (GVNV) -0.1% 6.1% 4.2% 1% -15.7% -
Europe Specialty Retail -1.9% -2.6% -3.4% -13.1% -25.6% -19.3%
NL Market -0.4% -1.5% -0.2% -1.1% 25.7% 21.5%
1 Year Return vs Industry and Market
  • GVNV outperformed the Specialty Retail industry which returned -13.1% over the past year.
  • GVNV outperformed the Market in Netherlands which returned -1.1% over the past year.
Price Volatility
GVNV
Industry
5yr Volatility vs Market
Related Companies

GVNV Value

 Is GrandVision undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of GrandVision to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for GrandVision.

ENXTAM:GVNV Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.2%
Perpetual Growth Rate 10-Year NL Government Bond Rate 0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ENXTAM:GVNV
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NL Govt Bond Rate 0.4%
Equity Risk Premium S&P Global 6%
Specialty Retail Unlevered Beta Simply Wall St/ S&P Global 0.86
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.864 (1 + (1- 25%) (17.29%))
0.984
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.37% + (0.984 * 5.96%)
6.24%

Discounted Cash Flow Calculation for ENXTAM:GVNV using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for GrandVision is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ENXTAM:GVNV DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.24%)
2019 273.00 Analyst x2 256.98
2020 322.93 Analyst x5 286.14
2021 346.15 Analyst x3 288.71
2022 405.50 Analyst x1 318.36
2023 436.66 Analyst x1 322.70
2024 459.78 Est @ 5.29% 319.84
2025 477.33 Est @ 3.82% 312.56
2026 490.61 Est @ 2.78% 302.40
2027 500.71 Est @ 2.06% 290.52
2028 508.49 Est @ 1.55% 277.71
Present value of next 10 years cash flows €2,975.92
ENXTAM:GVNV DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €508.49 × (1 + 0.37%) ÷ (6.24% – 0.37%)
€8,701.54
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €8,701.54 ÷ (1 + 6.24%)10
€4,752.36
ENXTAM:GVNV Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €2,975.92 + €4,752.36
€7,728.28
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €7,728.28 / 253.77
€30.45
ENXTAM:GVNV Discount to Share Price
Calculation Result
Value per share (EUR) From above. €30.45
Current discount Discount to share price of €20.14
= -1 x (€20.14 - €30.45) / €30.45
33.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price GrandVision is available for.
Intrinsic value
34%
Share price is €20.14 vs Future cash flow value of €30.45
Current Discount Checks
For GrandVision to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • GrandVision's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • GrandVision's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for GrandVision's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are GrandVision's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTAM:GVNV PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.85
ENXTAM:GVNV Share Price ** ENXTAM (2019-06-18) in EUR €20.14
Europe Specialty Retail Industry PE Ratio Median Figure of 76 Publicly-Listed Specialty Retail Companies 13.38x
Netherlands Market PE Ratio Median Figure of 82 Publicly-Listed Companies 17.27x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of GrandVision.

ENXTAM:GVNV PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTAM:GVNV Share Price ÷ EPS (both in EUR)

= 20.14 ÷ 0.85

23.62x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • GrandVision is overvalued based on earnings compared to the Europe Specialty Retail industry average.
  • GrandVision is overvalued based on earnings compared to the Netherlands market.
Price based on expected Growth
Does GrandVision's expected growth come at a high price?
Raw Data
ENXTAM:GVNV PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.62x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
10.5%per year
Europe Specialty Retail Industry PEG Ratio Median Figure of 57 Publicly-Listed Specialty Retail Companies 1.4x
Netherlands Market PEG Ratio Median Figure of 65 Publicly-Listed Companies 1.46x

*Line of best fit is calculated by linear regression .

ENXTAM:GVNV PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 23.62x ÷ 10.5%

2.25x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • GrandVision is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on GrandVision's assets?
Raw Data
ENXTAM:GVNV PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €4.58
ENXTAM:GVNV Share Price * ENXTAM (2019-06-18) in EUR €20.14
Europe Specialty Retail Industry PB Ratio Median Figure of 109 Publicly-Listed Specialty Retail Companies 1.1x
Netherlands Market PB Ratio Median Figure of 104 Publicly-Listed Companies 1.93x
ENXTAM:GVNV PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTAM:GVNV Share Price ÷ Book Value per Share (both in EUR)

= 20.14 ÷ 4.58

4.4x

* Primary Listing of GrandVision.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • GrandVision is overvalued based on assets compared to the Europe Specialty Retail industry average.
X
Value checks
We assess GrandVision's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Specialty Retail industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Specialty Retail industry average (and greater than 0)? (1 check)
  5. GrandVision has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

GVNV Future Performance

 How is GrandVision expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
10.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is GrandVision expected to grow at an attractive rate?
  • GrandVision's earnings growth is expected to exceed the low risk savings rate of 0.4%.
Growth vs Market Checks
  • GrandVision's earnings growth is expected to exceed the Netherlands market average.
  • GrandVision's revenue growth is expected to exceed the Netherlands market average.
Annual Growth Rates Comparison
Raw Data
ENXTAM:GVNV Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTAM:GVNV Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 10.5%
ENXTAM:GVNV Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 4.5%
Europe Specialty Retail Industry Earnings Growth Rate Market Cap Weighted Average 10.4%
Europe Specialty Retail Industry Revenue Growth Rate Market Cap Weighted Average 5.1%
Netherlands Market Earnings Growth Rate Market Cap Weighted Average 8.9%
Netherlands Market Revenue Growth Rate Market Cap Weighted Average 3.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ENXTAM:GVNV Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTAM:GVNV Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 4,575 670 378 1
2022-12-31 4,384 629 349 1
2021-12-31 4,324 565 301 7
2020-12-31 4,145 541 282 11
2019-12-31 3,969 495 248 7
ENXTAM:GVNV Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 3,721 448 216
2018-09-30 3,662 407 218
2018-06-30 3,603 366 220
2018-03-31 3,527 353 224
2017-12-31 3,450 341 228
2017-09-30 3,408 392 228
2017-06-30 3,367 443 228
2017-03-31 3,342 437 230
2016-12-31 3,316 431 231
2016-09-30 3,290 390 226
2016-06-30 3,264 349 221
2016-03-31 3,234 365 217

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • GrandVision's earnings are expected to grow by 10.5% yearly, however this is not considered high growth (20% yearly).
  • GrandVision's revenue is expected to grow by 4.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ENXTAM:GVNV Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from GrandVision Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTAM:GVNV Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 1.49 1.49 1.49 1.00
2022-12-31 1.38 1.38 1.38 1.00
2021-12-31 1.20 1.27 1.10 5.00
2020-12-31 1.11 1.30 1.00 8.00
2019-12-31 0.98 1.04 0.91 6.00
ENXTAM:GVNV Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.85
2018-09-30 0.86
2018-06-30 0.87
2018-03-31 0.88
2017-12-31 0.90
2017-09-30 0.90
2017-06-30 0.91
2017-03-31 0.91
2016-12-31 0.92
2016-09-30 0.89
2016-06-30 0.87
2016-03-31 0.86

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • GrandVision is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess GrandVision's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
GrandVision has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

GVNV Past Performance

  How has GrandVision performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare GrandVision's growth in the last year to its industry (Specialty Retail).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • GrandVision's year on year earnings growth rate has been positive over the past 5 years.
  • GrandVision's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • GrandVision's 1-year earnings growth is negative, it can't be compared to the Europe Specialty Retail industry average.
Earnings and Revenue History
GrandVision's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from GrandVision Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTAM:GVNV Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 3,720.98 216.28 2,378.46
2018-09-30 3,662.11 218.15 2,341.01
2018-06-30 3,603.25 220.03 2,263.29
2018-03-31 3,526.55 223.98 2,212.00
2017-12-31 3,449.86 227.93 2,200.98
2017-09-30 3,408.49 227.89 2,154.10
2017-06-30 3,367.12 227.86 2,107.22
2017-03-31 3,341.60 229.61 2,082.93
2016-12-31 3,316.08 231.36 2,058.64
2016-09-30 3,289.95 226.35 2,036.90
2016-06-30 3,263.83 221.35 2,015.17
2016-03-31 3,234.36 217.04 1,997.53
2015-12-31 3,204.89 212.73 1,979.89
2015-09-30 3,130.19 197.14 1,979.48
2015-06-30 3,050.23 181.09 1,917.30
2015-03-31 2,933.61 171.15 1,852.33
2014-12-31 2,816.99 161.20 1,787.37
2014-09-30 2,739.47 159.82 1,715.55
2013-12-31 2,620.18 141.47 1,679.70
2012-12-31 2,518.41 101.04 1,625.45

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • GrandVision has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • GrandVision used its assets more efficiently than the Europe Specialty Retail industry average last year based on Return on Assets.
  • GrandVision's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess GrandVision's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Specialty Retail industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
GrandVision has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

GVNV Health

 How is GrandVision's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up GrandVision's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • GrandVision's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • GrandVision's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of GrandVision's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from GrandVision Company Filings, last reported 5 months ago.

ENXTAM:GVNV Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,252.47 883.65 138.26
2018-09-30 1,252.47 883.65 138.26
2018-06-30 1,141.41 1,022.16 193.44
2018-03-31 1,141.41 1,022.16 193.44
2017-12-31 1,120.55 993.37 164.68
2017-09-30 1,120.55 993.37 164.68
2017-06-30 1,017.84 1,105.34 352.68
2017-03-31 1,017.84 1,105.34 352.68
2016-12-31 1,006.57 935.69 181.10
2016-09-30 1,006.57 935.69 181.10
2016-06-30 871.36 1,100.73 187.83
2016-03-31 871.36 1,100.73 187.83
2015-12-31 831.78 1,139.40 198.30
2015-09-30 831.78 1,139.40 198.30
2015-06-30 793.83 952.41 90.77
2015-03-31 793.83 952.41 90.77
2014-12-31 668.22 1,057.40 134.10
2014-09-30 650.19 955.82 126.68
2013-12-31 546.05 939.67 102.56
2012-12-31 430.52 1,108.45 91.05
  • GrandVision's level of debt (70.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (172% vs 70.6% today).
  • Debt is well covered by operating cash flow (50.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 48x coverage).
X
Financial health checks
We assess GrandVision's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. GrandVision has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

GVNV Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.64%
Current annual income from GrandVision dividends. Estimated to be 2.01% next year.
If you bought €2,000 of GrandVision shares you are expected to receive €33 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • GrandVision's pays a lower dividend yield than the bottom 25% of dividend payers in Netherlands (2.35%).
  • GrandVision's dividend is below the markets top 25% of dividend payers in Netherlands (5.93%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ENXTAM:GVNV Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
Europe Specialty Retail Industry Average Dividend Yield Market Cap Weighted Average of 60 Stocks 3.9%
Netherlands Market Average Dividend Yield Market Cap Weighted Average of 69 Stocks 4%
Netherlands Minimum Threshold Dividend Yield 10th Percentile 1.7%
Netherlands Bottom 25% Dividend Yield 25th Percentile 2.3%
Netherlands Top 25% Dividend Yield 75th Percentile 5.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ENXTAM:GVNV Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.52 1.00
2022-12-31 0.48 1.00
2021-12-31 0.44 6.00
2020-12-31 0.40 10.00
2019-12-31 0.37 10.00
ENXTAM:GVNV Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-08 0.330 1.698
2019-02-27 0.330 1.705
2018-03-09 0.320 1.604
2018-02-28 0.320 1.722
2017-02-20 0.310 1.419
2016-03-16 0.280 1.210
2015-08-20 0.280 1.130

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • GrandVision is not paying a notable dividend for Netherlands, therefore no need to check if the payments are stable.
  • GrandVision is not paying a notable dividend for Netherlands, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of GrandVision's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of GrandVision's dividends as it is not paying a notable one for Netherlands.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.7x coverage).
X
Income/ dividend checks
We assess GrandVision's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can GrandVision afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. GrandVision has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

GVNV Management

 What is the CEO of GrandVision's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Stephan Borchert
COMPENSATION €2,923,841
AGE 49
TENURE AS CEO 1.3 years
CEO Bio

Mr. Stephan Borchert has been Chief Executive Officer at GrandVision NV since February 28, 2018 and has been its Member of the Management Board since January 15, 2018. Mr. Borchert was the General Manager of Southern & Western Europe at Douglas Holding AG. He served as a Member of the Management Board at Celesio AG since August 1, 2011 until September 22, 2014 and served as its Chief Marketing Officer until September 22, 2014. He served as Partner and Head of International Industry Practice Group Fashion, Retail & Lifestyle Industries at Roland Berger Strategy Consultants GmbH, Munich from May 1998 to December 2004. He served as President of Red Earth Ltd. from January 2005 to June 2008. He served as the Managing Director and General Manager of International at Parfümerie Douglas GmbH, Hagen from July 2008 to July 2011. He served as Project Manager of Organisation & Project Controlling at Peek & Cloppenburg KG, Düsseldorf from 1995 to 1998. He served as an Executive Director of Esprit Regional Services Ltd., Hong Kong from January 2005 to June 2008. As EMEA president of Sephora, he managed more than 1,000 locations in 23 countries.

CEO Compensation
  • Insufficient data for Stephan to compare compensation growth.
  • Stephan's remuneration is higher than average for companies of similar size in Netherlands.
Management Team

Stephan Borchert

TITLE
CEO & Member of Management Board
COMPENSATION
€3M
AGE
49
TENURE
1.3 yrs

Willem Eelman

TITLE
CFO & Member of Management Board
AGE
54
TENURE
0.1 yrs

Thelke Gerdes

TITLE
Investor Relations Director
Board of Directors Tenure

Average tenure and age of the GrandVision board of directors in years:

8.4
Average Tenure
70.5
Average Age
  • The tenure for the GrandVision board of directors is about average.
Board of Directors

Kees van der Graaf

TITLE
Chairman of Supervisory Board
AGE
68

Mel Groot

TITLE
Vice-Chairman of Supervisory Board
AGE
59

Peter Bolliger

TITLE
AGE
73
TENURE
8.4 yrs

Peter Bolliger

TITLE
Member of Supervisory Board
AGE
73
TENURE
8.4 yrs

Jeff Cole

TITLE
Member of Supervisory Board
AGE
77
TENURE
8.4 yrs

Rianne Meijerman

TITLE
Member of Supervisory Director
AGE
40
TENURE
0.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess GrandVision's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. GrandVision has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

GVNV News

Simply Wall St News

Here's What You Should Know About GrandVision N.V.'s (AMS:GVNV) 1.7% Dividend Yield

(AMS:GVNV) be an attractive dividend share to own for the long haul? Investors are often drawn to strong companies with the idea of reinvesting the dividends. Yet sometimes, investors buy a popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. With a 1.7% yield and a four-year payment history, investors probably think GrandVision looks like a reliable dividend stock. A 1.7% yield is not inspiring, but the longer payment history has some appeal. Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1. … Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. … The dividend has not fluctuated much, but with a relatively short payment history, we can't be sure this is sustainable across a full market cycle.

Simply Wall St -

Could GrandVision N.V.'s (AMS:GVNV) Investor Composition Influence The Stock Price?

View our latest analysis for GrandVision ENXTAM:GVNV Ownership Summary, May 29th 2019 What Does The Institutional Ownership Tell Us About GrandVision? … Insider Ownership Of GrandVision The definition of company insiders can be subjective, and does vary between jurisdictions. … But other times, private equity is selling out, having taking the company public.

Simply Wall St -

What Do Analysts Think About GrandVision N.V.'s (AMS:GVNV) Future?

Help shape the future of investing tools and you could win a $250 gift card! … After GrandVision N.V.'s (AMS:GVNV) earnings announcement in December 2018, … with earnings expected to grow by 20% in the upcoming year

Simply Wall St -

Only 3 Days Left Until GrandVision N.V. (AMS:GVNV) Trades Ex-Dividend

If you are interested in cashing in on GrandVision N.V.'s (AMS:GVNV) upcoming dividend of €0.33 per share, you only have 3 days left to buy the shares before its ex-dividend date, 30 April 2019, in time for dividends payable on the 06 May 2019. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I examine GrandVision's latest financial data to analyse its dividend characteristics. … Will the company be able to keep paying dividend based on the future earnings growth

Simply Wall St -

What Are Analysts Saying About GrandVision N.V.'s (AMS:GVNV) Future?

The latest earnings update GrandVision N.V. … (AMS:GVNV) released in December 2018a … confirmed

Simply Wall St -

Should We Worry About GrandVision N.V.'s (AMS:GVNV) P/E Ratio?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … To keep it practical, we'll show how GrandVision N.V.'s (AMS:GVNV) P/E ratio could help you assess the value on offer. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

GrandVision N.V. (AMS:GVNV): Can Growth Justify Its March Share Price?

Growth expectations for GrandVision N.V. … Let’s look into this by assessing GVNV's expected growth over the next few years. … Analysts are predicting good growth prospects for GrandVision over the next couple of years

Simply Wall St -

Did You Manage To Avoid GrandVision's (AMS:GVNV) 25% Share Price Drop?

(AMS:GVNV) shareholders, since the share price is down 25% in the last three years, falling well short of the market return of around 39%. … In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. … Although the share price is down over three years, GrandVision actually managed to grow EPS by 0.4% per year in that time.

Simply Wall St -

Is GrandVision N.V.'s (AMS:GVNV) 19% Better Than Average?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … That means that for every €1 worth of shareholders' equity, it generated €0.19 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

GrandVision N.V. (AMS:GVNV) Earns A Nice Return On Capital Employed

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Understanding Return On Capital Employed (ROCE). … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

GVNV Company Info

Description

GrandVision N.V., together with its subsidiaries, operates optical retail chains in the Netherlands and internationally. The company offers a range of optical services; prescription glasses, including frames and lenses; contact lenses; care products; and sunglasses comprising plain and with prescription lenses. It operates under 30 retail banners. As of February 27, 2019, the company operated approximately 7,095 optical retail stores. It also provides eye testing, examinations, and diagnostics services. The company was founded in 1891 and is headquartered in Schiphol, the Netherlands. GrandVision N.V. is a subsidiary of HAL Optical Investments B.V.

Details
Name: GrandVision N.V.
GVNV
Exchange: ENXTAM
Founded: 1891
€5,110,880,430
253,767,648
Website: http://www.grandvision.com
Address: GrandVision N.V.
The Base, Tower C,
6th Floor,
Schiphol,
Noord-Holland, 1118 CL,
Netherlands
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTAM GVNV Ordinary Shares Euronext Amsterdam NL EUR 06. Feb 2015
OTCPK GRRD.F Ordinary Shares Pink Sheets LLC US USD 06. Feb 2015
LSE 0R6J Ordinary Shares London Stock Exchange GB EUR 06. Feb 2015
Number of employees
Current staff
Staff numbers
37,457
GrandVision employees.
Industry
Specialty Stores
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/18 22:05
End of day share price update: 2019/06/18 00:00
Last estimates confirmation: 2019/06/14
Last earnings filing: 2019/03/08
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.