ENXTAM:NEDAP

Stock Analysis Report

N.V. Nederlandsche Apparatenfabriek Nedap

Executive Summary

N.V. Nederlandsche Apparatenfabriek Nedap, together with its subsidiaries, develops and supplies smart technological solutions worldwide.

Snowflake

Fundamentals

Outstanding track record with excellent balance sheet.


Similar Companies

Share Price & News

How has N.V. Nederlandsche Apparatenfabriek Nedap's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

2.3%

NEDAP

1.2%

NL Electronic

-0.06%

NL Market


1 Year Return

9.3%

NEDAP

13.7%

NL Electronic

9.2%

NL Market

Return vs Industry: NEDAP underperformed the Dutch Electronic industry which returned 13.7% over the past year.

Return vs Market: NEDAP matched the Dutch Market which returned 9.2% over the past year.


Shareholder returns

NEDAPIndustryMarket
7 Day2.3%1.2%-0.06%
30 Day5.0%-1.0%-0.6%
90 Day-7.1%-2.4%-2.4%
1 Year14.7%9.3%15.7%13.7%14.0%9.2%
3 Year74.1%52.7%28.7%23.0%40.7%25.0%
5 Year112.4%72.5%97.2%80.3%67.1%33.2%

Price Volatility Vs. Market

How volatile is N.V. Nederlandsche Apparatenfabriek Nedap's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is N.V. Nederlandsche Apparatenfabriek Nedap undervalued compared to its fair value and its price relative to the market?

40.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: NEDAP (€48.1) is trading below our estimate of fair value (€80.75)

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


Price To Earnings Ratio

PE vs Industry: NEDAP is poor value based on its PE Ratio (20.6x) compared to the Electronic industry average (17.6x).

PE vs Market: NEDAP is poor value based on its PE Ratio (20.6x) compared to the Dutch market (19.3x).


Price to Earnings Growth Ratio

PEG Ratio: NEDAP is poor value based on its PEG Ratio (1.5x)


Price to Book Ratio

PB vs Industry: NEDAP is overvalued based on its PB Ratio (5.5x) compared to the XE Electronic industry average (1.9x).


Next Steps

Future Growth

How is N.V. Nederlandsche Apparatenfabriek Nedap forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

14.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NEDAP's forecast earnings growth (14.1% per year) is above the savings rate (0.4%).

Earnings vs Market: NEDAP's earnings (14.1% per year) are forecast to grow faster than the Dutch market (12.1% per year).

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

Revenue vs Market: NEDAP's revenue (8.3% per year) is forecast to grow faster than the Dutch market (6.1% per year).

High Growth Revenue: NEDAP's revenue (8.3% 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 NEDAP's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has N.V. Nederlandsche Apparatenfabriek Nedap performed over the past 5 years?

2.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: NEDAP's earnings have grown by 2.6% per year over the past 5 years.

Accelerating Growth: NEDAP's earnings growth over the past year (10.2%) exceeds its 5-year average (2.6% per year).

Earnings vs Industry: NEDAP earnings growth over the past year (10.2%) exceeded the Electronic industry 5.6%.


Return on Equity

High ROE: NEDAP's Return on Equity (26.7%) is considered high.


Return on Assets

ROA vs Industry: NEDAP has a higher Return on Assets than the Electronic industry average last year.


Return on Capital Employed

ROCE Improving: NEDAP has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is N.V. Nederlandsche Apparatenfabriek Nedap's financial position?


Financial Position Analysis

Short Term Liabilities: NEDAP's short term assets (€75.7M) exceeds its short term liabilities (€43.3M)

Long Term Liabilities: NEDAP's short term assets (75.7M) exceeds its long term liabilities (17.0M)


Debt to Equity History and Analysis

Debt Level: NEDAP's debt to equity ratio (50.2%) is considered high

Reducing Debt: NEDAP's debt to equity ratio has reduced from 69.2% to 50.2% over the past 5 years.

Debt Coverage: NEDAP's debt is well covered by operating cash flow (79%).

Interest Coverage: NEDAP's interest payments on its debt are well covered by EBIT (75.4x coverage).


Balance Sheet

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

Debt Coverage by Assets: NEDAP's debt is covered by short term assets (assets are 2.7x debt).


Next Steps

Dividend

What is N.V. Nederlandsche Apparatenfabriek Nedap's current dividend yield, its reliability and sustainability?

5.20%

Current Dividend Yield


Dividend Yield vs Market

company5.2%marketbottom25%2.2%markettop25%5.9%industryaverage1.8%forecastin3Years7.6%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: NEDAP's dividend (5.2%) is higher than the bottom 25% of dividend payers in the Dutch market (2.22%).

High Dividend: NEDAP's dividend (5.2%) is low compared to the top 25% of dividend payers in the Dutch market (5.93%).

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

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


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (106.9%), NEDAP's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: NEDAP's dividends in 3 years are not forecast to be well covered by earnings (93% payout ratio).


Next Steps

Management

What is the CEO of N.V. Nederlandsche Apparatenfabriek Nedap's salary, the management and board of directors tenure and is there insider trading?

2.1yrs

Average board tenure


CEO

Ruben Wegman (53yo)

0yrs

Tenure

€815,000

Compensation

Mr. Ruben M. Wegman serves as Chief Executive Officer at N.V. Nederlandsche Apparatenfabriek Nedap and served as its Interim Head of Energy Systems. Mr. Wegman served as Interim Head of Energy Systems at N ...


CEO Compensation Analysis

Compensation vs. Market: Ruben's total compensation ($USD906.46K) is about average for companies of similar size in the Dutch market ($USD908.98K).

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


Board Age and Tenure

2.1yrs

Average Tenure

62.5yo

Average Age

Experienced Board: NEDAP's board of directors are not considered experienced ( 2.1 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

  • Ruben Wegman (53yo)

    Chairman of the Board of Directors & CEO

    • Tenure: 0yrs
    • Compensation: €815.00k
  • Eric Urff (52yo)

    CFO & Director

    • Tenure: 5.1yrs
    • Compensation: €667.00k

Board Members

  • Jo van Engelen (60yo)

    Supervisory Board Vice Chairman

    • Tenure: 2.8yrs
  • Margot Scheltema (65yo)

    Member of Supervisory Board

    • Tenure: 1.5yrs
  • G. Kolff (71yo)

    Chairman of Supervisory Board

    • Tenure: 7.5yrs
  • M. Pijnenborg (49yo)

    Supervisory Board Member

    • Tenure: 0.8yrs

Company Information

N.V. Nederlandsche Apparatenfabriek Nedap's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: N.V. Nederlandsche Apparatenfabriek Nedap
  • Ticker: NEDAP
  • Exchange: ENXTAM
  • Founded: 1929
  • Industry: Electronic Equipment and Instruments
  • Sector: Tech
  • Market Cap: €310.381m
  • Shares outstanding: 6.45m
  • Website: https://www.nedap.com

Number of Employees


Location

  • N.V. Nederlandsche Apparatenfabriek Nedap
  • Parallelweg 2
  • Groenlo
  • Gelderland
  • 7141 DC
  • Netherlands

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NEDAPENXTAM (Euronext Amsterdam)YesOrdinary SharesNLEURJan 1992
NE3DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
0NNULSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
NEDAPABATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992
NDDL.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992

Biography

N.V. Nederlandsche Apparatenfabriek Nedap, together with its subsidiaries, develops and supplies smart technological solutions worldwide. The company provides software solutions for healthcare industry; an ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/23 20:39
End of Day Share Price2019/10/23 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.