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VEI

Veidekke OB:VEI Stock Report

Last Price

kr90.50

Market Cap

kr12.1b

7D

-0.4%

1Y

-22.0%

Updated

24 Jun, 2022

Data

Company Financials +
VEI fundamental analysis
Snowflake Score
Valuation4/6
Future Growth4/6
Past Performance2/6
Financial Health5/6
Dividends4/6

VEI Stock Overview

Veidekke ASA operates as a construction and property development company.

Veidekke Competitors

 

 

 

 

 

 

 

 

 

 

 

 

Price History & Performance

Summary of all time highs, changes and price drops for Veidekke
Historical stock prices
Current Share Pricekr90.50
52 Week Highkr136.40
52 Week Lowkr88.10
Beta0.65
1 Month Change-8.12%
3 Month Change-29.85%
1 Year Change-21.98%
3 Year Change9.30%
5 Year Change-16.97%
Change since IPO1,754.51%

Recent News & Updates

May 15
Results: Veidekke ASA Delivered A Surprise Loss And Now Analysts Have New Forecasts

Results: Veidekke ASA Delivered A Surprise Loss And Now Analysts Have New Forecasts

It's been a sad week for Veidekke ASA ( OB:VEI ), who've watched their investment drop 11% to kr103 in the week since...

May 06
Veidekke's (OB:VEI) Upcoming Dividend Will Be Larger Than Last Year's

Veidekke's (OB:VEI) Upcoming Dividend Will Be Larger Than Last Year's

Veidekke ASA's ( OB:VEI ) dividend will be increasing to kr7.00 on 25th of May. This will take the annual payment from...

Shareholder Returns

VEINO ConstructionNO Market
7D-0.4%-2.1%-3.4%
1Y-22.0%-22.4%3.2%

Return vs Industry: VEI exceeded the Norwegian Construction industry which returned -23.2% over the past year.

Return vs Market: VEI underperformed the Norwegian Market which returned 3.4% over the past year.

Price Volatility

Is VEI's price volatile compared to industry and market?
VEI volatility
VEI Average Weekly Movement4.4%
Construction Industry Average Movement6.1%
Market Average Movement7.2%
10% most volatile stocks in NO Market12.8%
10% least volatile stocks in NO Market3.9%

Stable Share Price: VEI is less volatile than 75% of Norwegian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: VEI's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19367,748Jimmy Bengtssonhttps://veidekke.com

Veidekke ASA operates as a construction and property development company. It operates through Construction Norway, Infrastructure Norway, Construction Sweden, Infrastructure Sweden, and Denmark/Hoffmann segments. The company operates as a construction contractor; executes civil engineering projects; and produces asphalt and aggregates, as well as operates in the public road maintenance market.

Veidekke Fundamentals Summary

How do Veidekke's earnings and revenue compare to its market cap?
VEI fundamental statistics
Market Capkr12.12b
Earnings (TTM)kr903.00m
Revenue (TTM)kr37.65b

13.4x

P/E Ratio

0.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
VEI income statement (TTM)
Revenuekr37.65b
Cost of Revenuekr24.38b
Gross Profitkr13.27b
Other Expenseskr12.37b
Earningskr903.00m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 18, 2022

Earnings per share (EPS)6.74
Gross Margin35.25%
Net Profit Margin2.40%
Debt/Equity Ratio14.7%

How did VEI perform over the long term?

See historical performance and comparison

Dividends

7.7%

Current Dividend Yield

105%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is VEI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for VEI?

Other financial metrics that can be useful for relative valuation.

VEI key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.2x
Enterprise Value/EBITDA4.7x
PEG Ratio1x

Price to Earnings Ratio vs Peers

How does VEI's PE Ratio compare to its peers?

VEI PE Ratio vs Peers
The above table shows the PE ratio for VEI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average390.5x

Price-To-Earnings vs Peers: VEI is good value based on its Price-To-Earnings Ratio (13.4x) compared to the peer average (390.5x).


Price to Earnings Ratio vs Industry

How does VEI's PE Ratio compare vs other companies in the Construction Industry?

Price-To-Earnings vs Industry: VEI is expensive based on its Price-To-Earnings Ratio (13.4x) compared to the European Construction industry average (11.1x)


Price to Earnings Ratio vs Fair Ratio

What is VEI's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

VEI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.4x
Fair PE Ratio22.1x

Price-To-Earnings vs Fair Ratio: VEI is good value based on its Price-To-Earnings Ratio (13.4x) compared to the estimated Fair Price-To-Earnings Ratio (22.1x).


Share Price vs Fair Value

What is the Fair Price of VEI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: VEI (NOK90.5) is trading below our estimate of fair value (NOK236.33)

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


Price to Earnings Growth Ratio

PEG Ratio: VEI is poor value based on its PEG Ratio (1x)


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Future Growth

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

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


13.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: VEI's forecast earnings growth (13.1% per year) is above the savings rate (1.1%).

Earnings vs Market: VEI's earnings (13.1% per year) are forecast to grow faster than the Norwegian market (1.5% per year).

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

Revenue vs Market: VEI's revenue (3.1% per year) is forecast to grow faster than the Norwegian market (0.2% per year).

High Growth Revenue: VEI's revenue (3.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: VEI's Return on Equity is forecast to be high in 3 years time (39.4%)


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Past Performance

How has Veidekke performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-1.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: VEI has high quality earnings.

Growing Profit Margin: VEI's current net profit margins (2.4%) are lower than last year (2.6%).


Past Earnings Growth Analysis

Earnings Trend: VEI's earnings have declined by 1.5% per year over the past 5 years.

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

Earnings vs Industry: VEI had negative earnings growth (-8.3%) over the past year, making it difficult to compare to the Construction industry average (25.6%).


Return on Equity

High ROE: VEI's Return on Equity (34.5%) is considered high.


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Financial Health

How is Veidekke's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: VEI's short term assets (NOK10.1B) do not cover its short term liabilities (NOK10.8B).

Long Term Liabilities: VEI's short term assets (NOK10.1B) exceed its long term liabilities (NOK2.9B).


Debt to Equity History and Analysis

Debt Level: VEI has more cash than its total debt.

Reducing Debt: VEI's debt to equity ratio has reduced from 47.5% to 14.7% over the past 5 years.

Debt Coverage: VEI's debt is well covered by operating cash flow (579.1%).

Interest Coverage: VEI's interest payments on its debt are well covered by EBIT (45.5x coverage).


Balance Sheet


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Dividend

What is Veidekke current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


7.73%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: VEI's dividend (7.73%) is higher than the bottom 25% of dividend payers in the Norwegian market (2.82%).

High Dividend: VEI's dividend (7.73%) is in the top 25% of dividend payers in the Norwegian market (7.24%)


Stability and Growth of Payments

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

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


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (104.7%), VEI's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (57.1%), VEI's dividend payments are covered by cash flows.


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Management

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

2.4yrs

Average management tenure


CEO

Jimmy Bengtsson (55 yo)

2.75yrs

Tenure

kr5,769,000

Compensation

Mr. Jimmy Bengtsson serves as Group Chief Executive Officer of Veidekke ASA since September 1,2019. Mr. Bengtsson served as Executive Vice President of Construction Sweden at Veidekke ASA since January 1,...


CEO Compensation Analysis

Compensation vs Market: Jimmy's total compensation ($USD584.59K) is about average for companies of similar size in the Norwegian market ($USD769.67K).

Compensation vs Earnings: Jimmy's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

Experienced Management: VEI's management team is considered experienced (2.4 years average tenure).


Board Members

Experienced Board: VEI's board of directors are considered experienced (4.8 years average tenure).


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.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Veidekke ASA's employee growth, exchange listings and data sources


Key Information

  • Name: Veidekke ASA
  • Ticker: VEI
  • Exchange: OB
  • Founded: 1936
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Implied Market Cap: kr12.123b
  • Shares outstanding: 133.96m
  • Website: https://veidekke.com

Number of Employees


Location

  • Veidekke ASA
  • Skabos vei 4
  • Oslo
  • Oslo
  • 278
  • Norway

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/24 00:00
End of Day Share Price2022/06/24 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.