OM:SYSR

Stock Analysis Report

Executive Summary

Systemair AB (publ), a ventilation company, designs, develops, manufactures, and markets ventilation products and systems.

Snowflake

Fundamentals

Proven track record with moderate growth potential.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-0.3%

SYSR

-0.2%

SE Building

0.7%

SE Market


1 Year Return

48.1%

SYSR

31.3%

SE Building

17.7%

SE Market

Return vs Industry: SYSR exceeded the Swedish Building industry which returned 31.3% over the past year.

Return vs Market: SYSR exceeded the Swedish Market which returned 17.7% over the past year.


Shareholder returns

SYSRIndustryMarket
7 Day-0.3%-0.2%0.7%
30 Day5.5%7.1%6.1%
90 Day22.4%7.7%14.4%
1 Year50.6%48.1%33.5%31.3%22.8%17.7%
3 Year37.5%30.9%53.1%45.5%39.5%18.1%
5 Year56.0%43.6%101.4%86.5%60.9%26.4%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

20.03x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SYSR (SEK145) is trading above our estimate of fair value (SEK123.7)

Significantly Below Fair Value: SYSR is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: SYSR is good value based on its PE Ratio (20x) compared to the Building industry average (20x).

PE vs Market: SYSR is poor value based on its PE Ratio (20x) compared to the Swedish market (18.3x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: SYSR is good value based on its PB Ratio (2.5x) compared to the SE Building industry average (2.5x).


Next Steps

Future Growth

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

13.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SYSR's forecast earnings growth (13.5% per year) is above the savings rate (0.4%).

Earnings vs Market: SYSR's earnings (13.5% per year) are forecast to grow faster than the Swedish market (9.4% per year).

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

Revenue vs Market: SYSR's revenue (6.5% per year) is forecast to grow faster than the Swedish market (4.3% per year).

High Growth Revenue: SYSR's revenue (6.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SYSR's Return on Equity is forecast to be low in 3 years time (15.5%).


Next Steps

Past Performance

How has Systemair performed over the past 5 years?

-9.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SYSR has high quality earnings.

Growing Profit Margin: SYSR's current net profit margins (4.4%) are higher than last year (3%).


Past Earnings Growth Analysis

Earnings Trend: SYSR's earnings have declined by -9.8% per year over the past 5 years.

Accelerating Growth: SYSR's earnings growth over the past year (65.6%) exceeds its 5-year average (-9.8% per year).

Earnings vs Industry: SYSR earnings growth over the past year (65.6%) exceeded the Building industry 30.3%.


Return on Equity

High ROE: SYSR's Return on Equity (12.6%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Systemair's financial position?


Financial Position Analysis

Short Term Liabilities: SYSR's short term assets (SEK3.8B) exceeds its short term liabilities (SEK2.8B)

Long Term Liabilities: SYSR's short term assets (3.8B) exceeds its long term liabilities (1.4B)


Debt to Equity History and Analysis

Debt Level: SYSR's debt to equity ratio (83.6%) is considered high

Reducing Debt: SYSR's debt to equity ratio has increased from 55.5% to 83.6% over the past 5 years.

Debt Coverage: SYSR's debt is not well covered by operating cash flow (19.2%).

Interest Coverage: SYSR's interest payments on its debt are well covered by EBIT (16.2x coverage).


Balance Sheet

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

Debt Coverage by Assets: SYSR's debt is covered by short term assets (assets are 1.5x debt).


Next Steps

Dividend

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

1.38%

Current Dividend Yield


Dividend Yield vs Market

company1.4%marketbottom25%1.7%markettop25%4.8%industryaverage1.5%forecastin3Years1.9%

Current dividend yield vs market & industry

Notable Dividend: SYSR's dividend (1.38%) isn’t notable compared to the bottom 25% of dividend payers in the Swedish market (1.72%).

High Dividend: SYSR's dividend (1.38%) is low compared to the top 25% of dividend payers in the Swedish market (4.8%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (27.6%), SYSR's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SYSR's dividends in 3 years are forecast to be well covered by earnings (23.5% payout ratio).


Next Steps

Management

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

4.8yrs

Average management tenure


CEO

Roland Kasper (50yo)

4.3yrs

Tenure

kr4,300,000

Compensation

Mr. Roland Kasper has been the Group Chief Executive Officer of Systemair AB since August 27, 2015 and has been its President since August 24, 2016. Mr. Kasper served as a Vice President of Marketing for P ...


CEO Compensation Analysis

Compensation vs Market: Roland's total compensation ($USD442.77K) is about average for companies of similar size in the Swedish market ($USD576.42K).

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


Management Age and Tenure

4.8yrs

Average Tenure

52yo

Average Age

Experienced Management: SYSR's management team is considered experienced (4.8 years average tenure).


Board Age and Tenure

4.3yrs

Average Tenure

56yo

Average Age

Experienced Board: SYSR's board of directors are considered experienced (4.3 years average tenure).


Insider Trading

Insider Buying: SYSR insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Sellkr1,311,70017 Sep 19
Kurt Maurer
EntityIndividual
Shares10,000
Max Pricekr131.17

Ownership Breakdown

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


Management Team

  • Anders Ulff (52yo)

    CFO & Secretary to the Board

    • Tenure: 20.8yrs
  • Mats Sandor

    Technical Director

    • Tenure: 0yrs
  • Ivan Smolcic

    Managing Director and Head of Systemair Australia Pty Ltd

    • Tenure: 0yrs
  • Roland Kasper (50yo)

    Group CEO & President

    • Tenure: 4.3yrs
    • Compensation: kr4.30m
  • Bjorn Walther

    Managing Director of VEAB Heat Tech AB

    • Tenure: 39.4yrs
  • Mudassar Ali

    Group Controller

    • Tenure: 0yrs
  • Pär Johansson

    Business Development Director of Data Center Cooling

    • Tenure: 4yrs
    • Compensation: kr1.64m
  • Olle Glassel (53yo)

    Vice President of Sales & Marketing

    • Tenure: 4.8yrs

Board Members

  • Gunilla Spongh (53yo)

    Director

    • Tenure: 0.3yrs
  • Patrik Nolåker (56yo)

    Independent Director

    • Tenure: 3.3yrs
    • Compensation: kr300.00k
  • Carina Andersson (55yo)

    Independent Director

    • Tenure: 4.3yrs
    • Compensation: kr300.00k
  • Svein Nilsen (72yo)

    Independent Director

    • Tenure: 3.3yrs
    • Compensation: kr300.00k
  • Gerald Engström (71yo)

    Chairman of the Board

    • Tenure: 4.3yrs
    • Compensation: kr1.20m
  • Åke Henningsson (62yo)

    Employee Representative Director

    • Tenure: 4.3yrs
  • Ricky Sten (51yo)

    Employee Representative Director

    • Tenure: 5.8yrs

Company Information

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


Key Information

  • Name: Systemair AB (publ)
  • Ticker: SYSR
  • Exchange: OM
  • Founded: 1974
  • Industry: Building Products
  • Sector: Capital Goods
  • Market Cap: kr7.540b
  • Shares outstanding: 52.00m
  • Website: https://www.systemair.com

Number of Employees


Location

  • Systemair AB (publ)
  • Industrivagen 3
  • Skinnskatteberg
  • Västmanland County
  • 739 30
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SYSROM (OMX Nordic Exchange Stockholm)YesClass A SharesSESEKOct 2007
0HDKLSE (London Stock Exchange)YesClass A SharesGBSEKOct 2007
52SDB (Deutsche Boerse AG)YesClass A SharesDEEUROct 2007
SYSRsBATS-CHIXE (BATS 'Chi-X Europe')YesClass A SharesGBSEKOct 2007

Biography

Systemair AB (publ), a ventilation company, designs, develops, manufactures, and markets ventilation products and systems. The company offers heating products comprising convectors and radiators, air curta ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/12 20:59
End of Day Share Price2019/11/12 00:00
Earnings2019/07/31
Annual Earnings2019/04/30


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.