OM:LIAB

Stock Analysis Report

Lindab International

Executive Summary

Lindab International AB (publ) develops, manufactures, markets, and distributes products and system solutions for construction and improved indoor climate.


Snowflake Analysis

Flawless balance sheet, undervalued and pays a dividend.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-3.1%

LIAB

-3.7%

SE Building

-4.1%

SE Market


1 Year Return

36.9%

LIAB

28.5%

SE Building

17.2%

SE Market

Return vs Industry: LIAB exceeded the Swedish Building industry which returned 28.5% over the past year.

Return vs Market: LIAB exceeded the Swedish Market which returned 17.2% over the past year.


Shareholder returns

LIABIndustryMarket
7 Day-3.1%-3.7%-4.1%
30 Day7.9%-1.4%-0.5%
90 Day6.9%6.0%5.2%
1 Year39.2%36.9%30.6%28.5%21.9%17.2%
3 Year72.9%63.7%56.1%48.4%34.6%14.2%
5 Year90.8%74.5%79.4%64.7%41.1%11.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Lindab International undervalued compared to its fair value and its price relative to the market?

29.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: LIAB (SEK124) is trading below our estimate of fair value (SEK175)

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


Price To Earnings Ratio

PE vs Industry: LIAB is good value based on its PE Ratio (14x) compared to the Building industry average (19.6x).

PE vs Market: LIAB is good value based on its PE Ratio (14x) compared to the Swedish market (19.2x).


Price to Earnings Growth Ratio

PEG Ratio: LIAB is poor value based on its PEG Ratio (2.5x)


Price to Book Ratio

PB vs Industry: LIAB is good value based on its PB Ratio (1.9x) compared to the SE Building industry average (2.7x).


Next Steps

Future Growth

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

5.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: LIAB's forecast earnings growth (5.7% per year) is above the savings rate (-0.4%).

Earnings vs Market: LIAB's earnings (5.7% per year) are forecast to grow slower than the Swedish market (8% per year).

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

Revenue vs Market: LIAB's revenue (2.5% per year) is forecast to grow slower than the Swedish market (4.7% per year).

High Growth Revenue: LIAB's revenue (2.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: LIAB's Return on Equity is forecast to be low in 3 years time (13.2%).


Next Steps

Past Performance

How has Lindab International performed over the past 5 years?

16.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: LIAB has high quality earnings.

Growing Profit Margin: LIAB's current net profit margins (6.9%) are higher than last year (4.2%).


Past Earnings Growth Analysis

Earnings Trend: LIAB's earnings have grown by 16.7% per year over the past 5 years.

Accelerating Growth: LIAB's earnings growth over the past year (72.1%) exceeds its 5-year average (16.7% per year).

Earnings vs Industry: LIAB earnings growth over the past year (72.1%) exceeded the Building industry 30.1%.


Return on Equity

High ROE: LIAB's Return on Equity (13.5%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Lindab International's financial position?


Financial Position Analysis

Short Term Liabilities: LIAB's short term assets (SEK3.6B) exceed its short term liabilities (SEK2.2B).

Long Term Liabilities: LIAB's short term assets (SEK3.6B) exceed its long term liabilities (SEK2.2B).


Debt to Equity History and Analysis

Debt Level: LIAB's debt to equity ratio (25.3%) is considered satisfactory.

Reducing Debt: LIAB's debt to equity ratio has reduced from 54.7% to 25.3% over the past 5 years.

Debt Coverage: LIAB's debt is well covered by operating cash flow (80%).

Interest Coverage: LIAB's interest payments on its debt are well covered by EBIT (31.7x coverage).


Balance Sheet

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

Debt Coverage by Assets: LIAB's debt is covered by short term assets (assets are 2.8x debt).


Next Steps

Dividend

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

2.92%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Lindab International before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company2.9%marketbottom25%1.6%markettop25%4.3%industryaverage1.5%forecastin3Years3.4%

Current dividend yield vs market & industry

Notable Dividend: LIAB's dividend (2.9%) is higher than the bottom 25% of dividend payers in the Swedish market (1.62%).

High Dividend: LIAB's dividend (2.9%) is low compared to the top 25% of dividend payers in the Swedish market (4.27%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (40.5%), LIAB's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: LIAB's dividends in 3 years are forecast to be well covered by earnings (41.5% payout ratio).


Next Steps

Management

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

3.8yrs

Average board tenure


CEO

Ola Ringdahl (47yo)

1.7yrs

Tenure

kr5,825,738

Compensation

Mr. Ola Ringdahl has been the President and Chief Executive Officer of Lindab International AB since June 2018 and also serves as President & Chief Executive Officer at Lindab AB since 2018. He serves as C ...


CEO Compensation Analysis

Compensation vs Market: Ola's total compensation ($USD598.55K) is about average for companies of similar size in the Swedish market ($USD612.96K).

Compensation vs Earnings: Insufficient data to compare Ola's compensation with company performance.


Board Members

NamePositionTenureCompensationOwnership
Pontus Andersson
Employee Representative Director25.1yrskr25.80k0.00033% SEK31.2k
Peter Nilsson
Independent Chairman of the Board3.8yrskr737.70k0.039% SEK3.7m
Bent Johannesson
Independent Director3.8yrskr310.70k0.0026% SEK248.0k
Per Bertland
Independent Director3.8yrskr341.30k0.0092% SEK868.0k
Anette Frumerie
Independent Director3.1yrskr361.30k0.0021% SEK198.8k
Viveka Ekberg
Independent Director3.8yrskr412.00k0.0079% SEK744.0k
Sonat Burman-Olsson
Independent Director8.8yrskr310.70k0.00071% SEK67.2k
John Hedberg
Director3.1yrskr361.30k0.0013% SEK124.0k
Peter Stensmar
Deputy Director9.1yrsno datano data
Anders Lundberg
Employee Representative Director3.5yrskr25.80k0.000010% SEK946.5

3.8yrs

Average Tenure

57yo

Average Age

Experienced Board: LIAB's board of directors are considered experienced (3.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: LIAB 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

Lindab International AB's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Lindab International AB
  • Ticker: LIAB
  • Exchange: OM
  • Founded: 1959
  • Industry: Building Products
  • Sector: Capital Goods
  • Market Cap: kr9.465b
  • Shares outstanding: 76.33m
  • Website: https://www.lindabgroup.com

Number of Employees


Location

  • Lindab International AB
  • Järnvägsgatan 41
  • Grevie
  • Båstad
  • Skåne County
  • 269 82
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
LIABOM (OMX Nordic Exchange Stockholm)YesSeries A SharesSESEKDec 2006
0MWKLSE (London Stock Exchange)YesSeries A SharesGBSEKDec 2006
LIABSBATS-CHIXE (BATS 'Chi-X Europe')YesSeries A SharesGBSEKDec 2006

Biography

Lindab International AB (publ) develops, manufactures, markets, and distributes products and system solutions for construction and improved indoor climate. The company operates through two segments, Products & Solutions, and Building Systems. It offers products and systems for ventilation, cooling, and heating, as well as construction products and building solutions, such as steel rainwater systems; roof and wall cladding; and steel profiles for wall, roof and beam constructions, and large span buildings. The company also provides prefabricated steel construction systems, as well as proprietary IT software that simplify project planning and quotation process for designers and contractors. Lindab International AB offers its products through a network of 130 branches, as well as through building contractors and retailers primarily in the Nordic region, Western Europe, Central and Eastern Europe/the Commonwealth of Independent States, and internationally. The company was formerly known as Lindab Intressenter AB and changed its name to Lindab International AB (publ) in May 2006. Lindab International AB (publ) was founded in 1959 and is headquartered in Båstad, Sweden. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/25 21:09
End of Day Share Price2020/02/25 00:00
Earnings2019/12/31
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.