OM:NMAN

Stock Analysis Report

Executive Summary

Nederman Holding AB (publ) operates as an environmental technology company in North and South America, Europe, the Middle East, Africa, Asia, and Oceania.

Snowflake

Fundamentals

Adequate balance sheet second-rate dividend payer.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-1.6%

NMAN

-0.9%

SE Building

2.9%

SE Market


1 Year Return

-3.3%

NMAN

27.5%

SE Building

9.0%

SE Market

Return vs Industry: NMAN underperformed the Swedish Building industry which returned 27.5% over the past year.

Return vs Market: NMAN underperformed the Swedish Market which returned 9% over the past year.


Share holder returns

NMANIndustryMarket
7 Day-1.6%-0.9%2.9%
30 Day-6.9%-1.6%-0.4%
90 Day-9.3%-2.2%0.3%
1 Year-1.4%-3.3%29.6%27.5%13.7%9.0%
3 Year73.5%62.4%33.5%26.9%30.5%11.1%
5 Year156.0%129.7%111.5%94.2%66.0%30.7%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

17.42x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Undervalued: NMAN (SEK111) is trading above our estimate of fair value (SEK28.14)

Significantly Undervalued: NMAN is trading above our estimate of fair value.


Price Based on Earnings

PE vs Industry: NMAN is good value based on its PE Ratio (17.4x) compared to the Building industry average (19x).

PE vs Market: NMAN is poor value based on its PE Ratio (17.4x) compared to the Swedish market (16.7x).


Price Based on Expected Growth

Low PEG Ratio: Insufficient data to calculate NMAN's PEG Ratio to determine if it is good value.


Price Based on Value of Assets

PB vs Industry: NMAN is overvalued based on its PB Ratio (2.9x) compared to the SE Building industry average (2.4x).


Next Steps

Future Growth

How is Nederman Holding expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

4.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Earnings vs Savings Rate: NMAN's forecast earnings growth (4.3% per year) is above the savings rate (0.4%).

Earnings vs Market: NMAN's earnings (4.3% per year) are forecast to grow slower than the Swedish market (8.7% per year).

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

Revenue vs Market: Insufficient data to determine if NMAN's revenue is forecast to grow faster than the Swedish market.

High Growth Revenue: Insufficient data to determine if NMAN's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Estimates


Future Return on Equity

High Future ROE: Insufficient data to determine if NMAN's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Nederman Holding performed over the past 5 years?

16.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: NMAN's earnings have grown by 16.3% per year over the past 5 years.

Accelerating Growth: NMAN's earnings growth over the past year (13.8%) is below its 5-year average (16.3% per year).

Earnings vs Industry: NMAN earnings growth over the past year (13.8%) underperformed the Building industry 24.9%.


Return on Equity

High ROE: NMAN's Return on Equity (16.9%) is considered low.


Return on Assets

ROA vs Industry: NMAN's Return on Assets is below or equal to the Building industry average last year.


Return on Capital Employed

ROCE Improving: NMAN's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Nederman Holding's financial position?


Financial Position Analysis

Short Term Liabilities: NMAN's short term assets (SEK2.1B) exceeds its short term liabilities (SEK1.4B)

Long Term Liabilities: NMAN's short term assets (2.1B) exceeds its long term liabilities (1.5B)


Debt to Equity History and Analysis

Debt Level: NMAN's debt to equity ratio (71.9%) is considered high

Reducing Debt: NMAN's debt to equity ratio has reduced from 121.8% to 71.9% over the past 5 years.

Debt Coverage: NMAN's debt is not well covered by operating cash flow (16.8%).

Interest Coverage: NMAN's interest payments on its debt are well covered by EBIT (16.5x coverage).


Balance Sheet

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

Debt Coverage by Assets: NMAN's debt is covered by short term assets (assets are 2.214650x debt).


Next Steps

Dividend

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

2.07%

Current Dividend Yield


Dividend Yield vs Market

company2.1%marketbottom25%1.8%markettop25%4.8%industryaverage1.9%forecastin3Yearsn/a

Current dividend yield vs market & industry


Dividend Yield and Payments Analysis

Notable Dividend: NMAN's dividend (2.07%) is higher than the bottom 25% of dividend payers in the Swedish market (1.8%).

High Dividend: NMAN's dividend (2.07%) is low compared to the top 25% of dividend payers in the Swedish market (4.84%).

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (36.1%), NMAN'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

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

2.8yrs

Average management tenure


CEO

Sven Kristensson (57yo)

18.8yrs

Tenure

kr7,430,000

Compensation

Mr. Sven Kristensson has been the Group Chief Executive Officer of AB Ph. Nederman & Co. since 2001 and also serves as its President, Head of Apac, Interim Senior Vice President. Mr. Kristensson has been C ...


CEO Compensation Analysis

Compensation vs. Market: Sven's total compensation ($USD755.92K) is about average for companies of similar size in the Swedish market ($USD512.71K).

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


Management Age and Tenure

2.8yrs

Average Tenure

53yo

Average Age

Experienced Management: NMAN's management team is considered experienced (2.8 years average tenure).


Board Age and Tenure

3.3yrs

Average Tenure

55yo

Average Age

Experienced Board: NMAN's board of directors are considered experienced (3.3 years average tenure).


Insider Trading

Insider Buying: NMAN insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Buykr64,12502 Sep 19
Tomas Hagström
EntityIndividual
Role
Senior Key Executive
Senior VP and Head of Division Nederman Process Technology
Shares540
Max Pricekr118.75
Buykr453,19507 Aug 19
Johan Menckel
EntityIndividual
Role
Member of the Board of Directors
Director
Shares4,000
Max Pricekr113.88
Buykr11,02014 May 19
Matthew Cusick
EntityIndividual
Role
Chief Financial Officer
Senior VP & CFO
Shares100
Max Pricekr110.20
Buykr72,05906 May 19
Hans Dahlén
EntityIndividual
Role
Senior Key Executive
Senior VP and Head of Division Extraction & Filtration Technology
Shares662
Max Pricekr108.85
Buykr36,23906 May 19
Eva Svensson
EntityIndividual
Role
Head of Human Resources
Senior Vice President of Human Resources
Shares334
Max Pricekr108.50
Buykr36,35606 May 19
Per-Ove Eriksson
EntityIndividual
Shares334
Max Pricekr108.85
Buykr44,19306 May 19
Matthew Cusick
EntityIndividual
Role
Chief Financial Officer
Senior VP & CFO
Shares406
Max Pricekr108.85
Buykr133,53021 Nov 18
Hans Dahlén
EntityIndividual
Role
Senior Key Executive
Senior VP and Head of Division Extraction & Filtration Technology
Shares1,500
Max Pricekr89.02
Sellkr102,00012 Nov 18
Per-Ove Eriksson
EntityIndividual
Shares1,000
Max Pricekr102.00
Buykr487,89729 Oct 18
Aage Snorgaard
EntityIndividual
Role
Senior Key Executive
Senior VP and Head of Division Nederman Monitoring & Control Technology
Shares5,300
Max Pricekr92.18

Ownership Breakdown


Management Team

  • Sven Kristensson (57yo)

    President

    • Tenure: 18.8yrs
    • Compensation: kr7.43m
  • Per Lind (62yo)

    Senior Vice President of Global Strategic Accounts

    • Tenure: 2.8yrs
  • Eva Svensson (55yo)

    Senior Vice President of Human Resources

    • Tenure: 0yrs
  • Aage Snorgaard (56yo)

    Senior VP and Head of Division Nederman Monitoring & Control Technology

    • Tenure: 2.8yrs
  • Tomas Hagström (43yo)

    Senior VP and Head of Division Nederman Process Technology

    • Tenure: 2.8yrs
  • Hans Dahlén (51yo)

    Senior VP and Head of Division Extraction & Filtration Technology

    • Tenure: 0yrs
  • Matthew Cusick (42yo)

    Senior VP & CFO

    • Tenure: 2.9yrs
  • Jeppe Rasmussen (57yo)

    Senior VP & Head of Division Nederman Duct & Filter Technology

    • Tenure: 0.8yrs
  • Erik Wahn (39yo)

    Senior Vice President of Corporate Strategy & Business Development

    • Tenure: 0.8yrs
  • Kristian Lexander (44yo)

    Senior VP

    • Tenure: 0.8yrs

Board Members

  • Sven Kristensson (57yo)

    President

    • Tenure: 18.8yrs
    • Compensation: kr7.43m
  • Johan Hjertonsson (51yo)

    Chairman of the Board

    • Tenure: 0.5yrs
    • Compensation: kr250.00k
  • Johan Menckel (48yo)

    Director

    • Tenure: 3.5yrs
    • Compensation: kr250.00k
  • Ylva op den Hammargren (53yo)

    Director

    • Tenure: 8.5yrs
    • Compensation: kr250.00k
  • Gunilla Fransson (59yo)

    Director

    • Tenure: 3.1yrs
    • Compensation: kr250.00k
  • Sam Strömerstén (64yo)

    Director

    • Tenure: 0.5yrs

Company Information

Nederman Holding AB (publ)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Nederman Holding AB (publ)
  • Ticker: NMAN
  • Exchange: OM
  • Founded: 1944
  • Industry: Building Products
  • Sector: Capital Goods
  • Market Cap: kr3.895b
  • Shares outstanding: 35.09m
  • Website: https://www.nedermangroup.com

Number of Employees


Location

  • Nederman Holding AB (publ)
  • Sydhamnsgatan 2
  • Helsingborg
  • Skåne County
  • 251 06
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NMANOM (OMX Nordic Exchange Stockholm)YesOrdinary SharesSESEKMay 2007
NMANSBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBSEKMay 2007
NMANOM (OMX Nordic Exchange Stockholm)NPVSESEKMay 2018
NMANSBATS-CHIXE (BATS 'Chi-X Europe')NPVGBSEKMay 2018

Biography

Nederman Holding AB (publ) operates as an environmental technology company in North and South America, Europe, the Middle East, Africa, Asia, and Oceania. It offers industrial air filtration products for h ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 21:01
End of Day Share Price2019/10/14 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.

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