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Systemair

OM:SYSR
Snowflake Description

Reasonable growth potential with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SYSR
OM
SEK6B
Market Cap
  1. Home
  2. SE
  3. Capital Goods
Company description

Systemair AB (publ), a ventilation company, designs, develops, manufactures, and markets ventilation products and systems. The last earnings update was 39 days ago. More info.


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SYSR Share Price and Events
7 Day Returns
0.5%
OM:SYSR
1.4%
SE Building
1.2%
SE Market
1 Year Returns
-0.5%
OM:SYSR
21.5%
SE Building
4.4%
SE Market
SYSR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Systemair (SYSR) 0.5% 11.7% 15.5% -0.5% 5% 6.6%
SE Building 1.4% 7.3% 24.9% 21.5% 35.1% 96.1%
SE Market 1.2% 3.3% 9.9% 4.4% 15.1% 25.4%
1 Year Return vs Industry and Market
  • SYSR underperformed the Building industry which returned 21.5% over the past year.
  • SYSR underperformed the Market in Sweden which returned 4.4% over the past year.
Price Volatility
SYSR
Industry
5yr Volatility vs Market

SYSR Value

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

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Systemair to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Systemair.

OM:SYSR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.5%
Perpetual Growth Rate 10-Year SE Government Bond Rate 0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OM:SYSR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SE Govt Bond Rate 0.4%
Equity Risk Premium S&P Global 6%
Building Unlevered Beta Simply Wall St/ S&P Global 1.18
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.178 (1 + (1- 22%) (38.77%))
1.358
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.36
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.43% + (1.358 * 5.96%)
8.53%

Discounted Cash Flow Calculation for OM:SYSR using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Systemair is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

OM:SYSR DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SEK, Millions) Source Present Value
Discounted (@ 8.53%)
2019 198.00 Analyst x1 182.44
2020 400.00 Analyst x2 339.61
2021 505.50 Analyst x2 395.45
2022 588.67 Est @ 16.45% 424.33
2023 657.23 Est @ 11.65% 436.52
2024 711.67 Est @ 8.28% 435.54
2025 753.86 Est @ 5.93% 425.11
2026 786.13 Est @ 4.28% 408.47
2027 810.71 Est @ 3.13% 388.14
2028 829.51 Est @ 2.32% 365.93
Present value of next 10 years cash flows SEK3,801.53
OM:SYSR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SEK829.51 × (1 + 0.43%) ÷ (8.53% – 0.43%)
SEK10,293.20
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SEK10,293.20 ÷ (1 + 8.53%)10
SEK4,540.77
OM:SYSR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SEK3,801.53 + SEK4,540.77
SEK8,342.30
Equity Value per Share
(SEK)
= Total value / Shares Outstanding
= SEK8,342.30 / 52.00
SEK160.43
OM:SYSR Discount to Share Price
Calculation Result
Value per share (SEK) From above. SEK160.43
Current discount Discount to share price of SEK109.50
= -1 x (SEK109.50 - SEK160.43) / SEK160.43
31.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Systemair is available for.
Intrinsic value
32%
Share price is SEK109.5 vs Future cash flow value of SEK160.43
Current Discount Checks
For Systemair to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Systemair's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Systemair's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Systemair's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Systemair's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OM:SYSR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-01-31) in SEK SEK4.91
OM:SYSR Share Price ** OM (2019-04-18) in SEK SEK109.5
Sweden Building Industry PE Ratio Median Figure of 11 Publicly-Listed Building Companies 20.36x
Sweden Market PE Ratio Median Figure of 322 Publicly-Listed Companies 16.88x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Systemair.

OM:SYSR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OM:SYSR Share Price ÷ EPS (both in SEK)

= 109.5 ÷ 4.91

22.32x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Systemair is overvalued based on earnings compared to the SE Building industry average.
  • Systemair is overvalued based on earnings compared to the Sweden market.
Price based on expected Growth
Does Systemair's expected growth come at a high price?
Raw Data
OM:SYSR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 22.32x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
26.6%per year
Sweden Building Industry PEG Ratio Median Figure of 7 Publicly-Listed Building Companies 1.38x
Sweden Market PEG Ratio Median Figure of 233 Publicly-Listed Companies 1.31x

*Line of best fit is calculated by linear regression .

OM:SYSR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 22.32x ÷ 26.6%

0.84x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Systemair is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Systemair's assets?
Raw Data
OM:SYSR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-01-31) in SEK SEK52.11
OM:SYSR Share Price * OM (2019-04-18) in SEK SEK109.5
Sweden Building Industry PB Ratio Median Figure of 13 Publicly-Listed Building Companies 2.53x
Sweden Market PB Ratio Median Figure of 566 Publicly-Listed Companies 2.51x
OM:SYSR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OM:SYSR Share Price ÷ Book Value per Share (both in SEK)

= 109.5 ÷ 52.11

2.1x

* Primary Listing of Systemair.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Systemair is good value based on assets compared to the SE Building industry average.
X
Value checks
We assess Systemair's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Building industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Building industry average (and greater than 0)? (1 check)
  5. Systemair has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

SYSR Future Performance

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

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
26.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Systemair expected to grow at an attractive rate?
  • Systemair's earnings growth is expected to exceed the low risk savings rate of 0.4%.
Growth vs Market Checks
  • Systemair's earnings growth is expected to exceed the Sweden market average.
  • Systemair's revenue growth is expected to exceed the Sweden market average.
Annual Growth Rates Comparison
Raw Data
OM:SYSR Future Growth Rates Data Sources
Data Point Source Value (per year)
OM:SYSR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 26.6%
OM:SYSR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 6.7%
Sweden Building Industry Earnings Growth Rate Market Cap Weighted Average 27.9%
Sweden Building Industry Revenue Growth Rate Market Cap Weighted Average 5.9%
Sweden Market Earnings Growth Rate Market Cap Weighted Average 8.4%
Sweden Market Revenue Growth Rate Market Cap Weighted Average 4.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OM:SYSR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OM:SYSR Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-04-30 10,254 1
2021-04-30 9,213 566 493 3
2020-04-30 8,751 512 414 3
2019-04-30 8,224 460 308 3
OM:SYSR Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2019-01-31 8,010 335 255
2018-10-31 7,764 213 252
2018-07-31 7,477 226 227
2018-04-30 7,301 224 231
2018-01-31 7,207 215 247
2017-10-31 7,149 357 256
2017-07-31 7,055 424 270
2017-04-30 6,864 465 294
2017-01-31 6,639 450 293
2016-10-31 6,340 280 256
2016-07-31 6,195 234 226
2016-04-30 6,113 169 207

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Systemair's earnings are expected to grow significantly at over 20% yearly.
  • Systemair's revenue is expected to grow by 6.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OM:SYSR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Systemair Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:SYSR Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-04-30
2021-04-30 9.49 10.59 8.18 3.00
2020-04-30 7.97 8.33 7.47 3.00
2019-04-30 5.92 6.23 5.50 3.00
OM:SYSR Past Financials Data
Date (Data in SEK Millions) EPS *
2019-01-31 4.91
2018-10-31 4.84
2018-07-31 4.36
2018-04-30 4.43
2018-01-31 4.76
2017-10-31 4.93
2017-07-31 5.20
2017-04-30 5.66
2017-01-31 5.64
2016-10-31 4.91
2016-07-31 4.35
2016-04-30 3.98

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Systemair is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Systemair's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Sweden market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Sweden market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Systemair has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

SYSR Past Performance

  How has Systemair performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Systemair's growth in the last year to its industry (Building).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Systemair's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Systemair's 1-year earnings growth exceeds its 5-year average (3% vs -12.2%)
  • Systemair's earnings growth has not exceeded the SE Building industry average in the past year (3% vs 11.3%).
Earnings and Revenue History
Systemair's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Systemair Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:SYSR Past Revenue, Cash Flow and Net Income Data
Date (Data in SEK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-01-31 8,009.70 254.80 2,170.00
2018-10-31 7,764.40 252.00 2,126.30
2018-07-31 7,476.70 227.40 2,060.80
2018-04-30 7,301.20 230.50 2,013.40
2018-01-31 7,207.30 247.30 1,995.50
2017-10-31 7,149.40 256.40 1,972.90
2017-07-31 7,054.90 270.30 1,956.90
2017-04-30 6,863.60 294.20 1,913.20
2017-01-31 6,639.00 293.20 1,832.80
2016-10-31 6,340.10 255.50 1,775.90
2016-07-31 6,195.30 226.00 1,748.00
2016-04-30 6,112.50 207.20 1,736.90
2016-01-31 6,106.30 208.80 1,758.30
2015-10-31 6,121.40 239.50 1,739.30
2015-07-31 6,051.50 270.30 1,711.60
2015-04-30 5,882.20 309.80 1,666.60
2015-01-31 5,638.40 547.70 1,585.40
2014-10-31 5,504.90 523.60 1,543.50
2014-07-31 5,364.90 499.60 1,504.00
2014-04-30 5,295.80 438.70 1,467.60
2014-01-31 5,160.90 195.30 1,426.60
2013-10-31 4,983.60 231.00 1,370.30
2013-07-31 4,784.70 227.30 1,314.20
2013-04-30 4,551.00 241.00 1,267.50
2013-01-31 4,462.20 212.40 1,246.00
2012-10-31 4,372.10 227.10 1,222.80
2012-07-31 4,183.10 233.20 1,187.80
2012-04-30 3,996.90 215.40 1,154.30

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Systemair has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Systemair used its assets less efficiently than the SE Building industry average last year based on Return on Assets.
  • Systemair's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Systemair's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Building industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Systemair has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

SYSR Health

 How is Systemair's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Systemair's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Systemair is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Systemair's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Systemair's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Systemair Company Filings, last reported 2 months ago.

OM:SYSR Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-01-31 2,709.60 2,207.60 256.20
2018-10-31 2,664.90 2,315.80 431.90
2018-07-31 2,629.00 1,977.10 234.30
2018-04-30 2,620.30 1,973.90 215.00
2018-01-31 2,461.90 1,784.00 194.90
2017-10-31 2,434.20 1,759.50 208.30
2017-07-31 2,403.20 1,683.50 270.00
2017-04-30 2,381.30 1,555.40 245.00
2017-01-31 2,312.10 1,458.10 212.90
2016-10-31 2,358.20 1,648.00 229.30
2016-07-31 2,280.40 1,526.40 236.60
2016-04-30 2,108.20 1,505.70 182.30
2016-01-31 2,066.30 1,475.40 198.60
2015-10-31 2,101.10 1,514.70 242.30
2015-07-31 2,163.70 1,435.10 214.60
2015-04-30 2,082.20 1,385.70 193.70
2015-01-31 2,061.50 1,246.60 158.80
2014-10-31 2,010.40 1,290.00 188.70
2014-07-31 2,047.30 1,134.30 179.00
2014-04-30 1,880.90 1,040.90 127.00
2014-01-31 1,773.30 1,615.20 140.10
2013-10-31 1,744.50 1,680.40 151.20
2013-07-31 1,688.40 1,558.30 133.40
2013-04-30 1,576.00 1,310.30 105.60
2013-01-31 1,500.90 1,222.50 86.70
2012-10-31 1,503.80 1,324.80 102.60
2012-07-31 1,402.30 879.20 86.10
2012-04-30 1,399.10 866.80 91.60
  • Systemair's level of debt (81.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (90.7% vs 81.5% today).
  • Debt is not well covered by operating cash flow (15.2%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 13.5x coverage).
X
Financial health checks
We assess Systemair's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Systemair has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

SYSR Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.83%
Current annual income from Systemair dividends. Estimated to be 2.14% next year.
If you bought SEK2,000 of Systemair shares you are expected to receive SEK37 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Systemair's pays a lower dividend yield than the bottom 25% of dividend payers in Sweden (1.86%).
  • Systemair's dividend is below the markets top 25% of dividend payers in Sweden (4.37%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OM:SYSR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Sweden Building Industry Average Dividend Yield Market Cap Weighted Average of 11 Stocks 1.6%
Sweden Market Average Dividend Yield Market Cap Weighted Average of 245 Stocks 3.5%
Sweden Minimum Threshold Dividend Yield 10th Percentile 1.2%
Sweden Bottom 25% Dividend Yield 25th Percentile 1.9%
Sweden Top 25% Dividend Yield 75th Percentile 4.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OM:SYSR Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2022-04-30
2021-04-30 2.67 3.00
2020-04-30 2.31 3.00
2019-04-30 2.05 3.00
OM:SYSR Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2018-08-31 2.000 1.983
2017-07-27 2.000 1.763
2016-07-27 2.000 1.542
2015-07-29 2.000 1.866
2014-07-29 1.500 1.370
2013-08-05 1.500 1.305
2013-06-11 1.500 1.429
2012-08-29 1.250 1.376
2011-08-25 1.750 2.231
2010-08-27 1.250 1.340
2009-09-11 0.750 1.133
2009-04-22 1.500 3.149

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Systemair's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4.5x coverage).
X
Income/ dividend checks
We assess Systemair's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Systemair afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Systemair has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

SYSR Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Roland Kasper
COMPENSATION SEK4,200,000
AGE 49
TENURE AS CEO 3.7 years
CEO Bio

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 Products at Systemair AB since 2011. He served as Managing Director of Systemair AB (publ) since August 27, 2015 until August 24, 2016. Mr. Kasper served as Product Manager of FläktWoods Group and ABB Ventilation Products GmbH. He has Energy and Heating Technology Engineering Diploma from University of Applied Sciences Giessen-Friedberg, Germany.

CEO Compensation
  • Roland's compensation has been consistent with company performance over the past year.
  • Roland's remuneration is about average for companies of similar size in Sweden.
Management Team Tenure

Average tenure and age of the Systemair management team in years:

4.8
Average Tenure
52
Average Age
  • The tenure for the Systemair management team is about average.
Management Team

Roland Kasper

TITLE
Group CEO & President
COMPENSATION
SEK4M
AGE
49
TENURE
3.7 yrs

Anders Ulff

TITLE
CFO & Secretary to the Board
AGE
51
TENURE
20.3 yrs

Mats Sandor

TITLE
Technical Director

Olle Glassel

TITLE
Vice President of Sales & Marketing
AGE
52
TENURE
4.3 yrs

Ivan Smolcic

TITLE
Managing Director and Head of Systemair Australia Pty Ltd

Mudassar Ali

TITLE
Group Controller

Kurt Maurer

TITLE
VP of Marketing - Products & MD of Systemair GmbH - Germany
AGE
59

Bjorn Walther

TITLE
Managing Director of VEAB Heat Tech AB
TENURE
38.8 yrs

Pär Johansson

TITLE
Business Development Director of Data Center Cooling
COMPENSATION
SEK2M
TENURE
3.4 yrs

Fredrik Andersson

TITLE
Vice President of Marketing - Eastern Europe
AGE
52
TENURE
5.3 yrs
Board of Directors Tenure

Average tenure and age of the Systemair board of directors in years:

3.7
Average Tenure
57
Average Age
  • The tenure for the Systemair board of directors is about average.
Board of Directors

Gerald Engström

TITLE
Chairman of the Board
COMPENSATION
SEK1M
AGE
70
TENURE
3.7 yrs

Carina Andersson

TITLE
Independent Director
COMPENSATION
SEK300K
AGE
54
TENURE
3.7 yrs

Patrik Nolåker

TITLE
Independent Director
COMPENSATION
SEK300K
AGE
55
TENURE
2.7 yrs

Svein Nilsen

TITLE
Independent Director
COMPENSATION
SEK300K
AGE
71
TENURE
2.7 yrs

Åke Henningsson

TITLE
Employee Representative Director
AGE
61
TENURE
3.7 yrs

Ricky Sten

TITLE
Employee Representative Director
AGE
50
TENURE
5.3 yrs

Hans Fuchs

TITLE
Director
COMPENSATION
SEK300K
AGE
57
TENURE
1.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (SEK) Value (SEK)
10. Jul 18 Buy Kurt Maurer Individual 05. Jul 18 05. Jul 18 2,000 SEK87.94 SEK175,872
29. Jun 18 Buy Fredrik Andersson Individual 28. Jun 18 28. Jun 18 1,000 SEK85.00 SEK85,000
21. Jun 18 Buy Ulrika Molander Individual 21. Jun 18 21. Jun 18 540 SEK92.28 SEK49,831
18. Jun 18 Buy Fredrik Andersson Individual 15. Jun 18 15. Jun 18 2,450 SEK94.00 SEK230,300
15. Jun 18 Buy Anders Ulff Individual 15. Jun 18 15. Jun 18 993 SEK96.48 SEK95,805
15. Jun 18 Buy Patrik Nolåker Individual 15. Jun 18 15. Jun 18 1,000 SEK97.50 SEK97,500
X
Management checks
We assess Systemair's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Systemair has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

SYSR News

Simply Wall St News

Systemair AB (publ) (STO:SYSR): How Much Money Comes Back To Investors?

Two important questions to ask before you buy Systemair AB (publ) (STO:SYSR) is, how it makes money and how it spends its cash. … Systemair’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure. … The two ways to assess whether Systemair’s FCF is sufficient, is to compare the FCF yield to the market index yield, as well as determine whether the top-line operating cash flows will continue to grow

Simply Wall St -

Should You Take Comfort From Insider Transactions At Systemair AB (publ) (STO:SYSR)?

So before you buy or sell Systemair AB (publ) (STO:SYSR), you may well want to know whether insiders have been buying or selling. … The Last 12 Months Of Insider Transactions At Systemair. … Overall, Systemair insiders were net buyers last year

Simply Wall St -

Should Systemair AB (publ) (STO:SYSR) Be Part Of Your Dividend Portfolio?

A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … Historically, Systemair AB (publ) (STO:SYSR) has been paying a dividend to shareholders. … 5 questions I ask before picking a dividend stock

Simply Wall St -

Is Systemair AB (publ)'s (STO:SYSR) CEO Pay Fair?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Roland Kasper's Compensation Compare With Similar Sized Companies. … According to our data, Systemair AB (publ) has a market capitalization of kr5.0b, and pays its CEO total annual compensation worth kr4.2m.

Simply Wall St -

Is There An Opportunity With Systemair AB (publ)'s (STO:SYSR) 25.56% Undervaluation?

by taking the expected future cash flows and discounting them to their present value. … discounted cash flows (DCF) … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model.

Simply Wall St -

Should Systemair AB (publ)'s (STO:SYSR) Recent Earnings Worry You?

When Systemair AB (publ)'s (STO:SYSR) announced its latest earnings (31 October 2018), I wanted to understand how these figures stacked up against its past performance. … The two benchmarks I used were Systemair's average earnings over the past couple of years, and its industry performance. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of -10%, indicating the rate at which SYSR is growing has slowed down

Simply Wall St -

Is Systemair AB (publ)'s (STO:SYSR) Future Growth Already Accounted For In Today's Price?

Systemair AB (publ) (STO:SYSR) is considered a high-growth stock, but its last closing price of SEK94.8 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … Want to help shape the future of investing tools and platforms. … Systemair is poised for extremely high earnings growth in the near future

Simply Wall St -

Should You Be Concerned About Systemair AB (publ)'s (STO:SYSR) ROE?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Our data shows Systemair has a return on equity of 9.4% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is Systemair AB (publ) (STO:SYSR) Struggling With Its 11% Return On Capital Employed?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … What is Return On Capital Employed (ROCE)? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Is Systemair AB (publ) (STO:SYSR) Potentially Underrated?

Systemair AB (publ) (STO:SYSR) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … In the case of SYSR, it

Simply Wall St -

SYSR Company Info

Description

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 curtains, radiant and fan heaters; fans and accessories, including circular duct, rectangular and square duct, roof, axial, explosion proof, domestic, and smoke extract fans, as well as electrical accessories for ventilation and fans for aggressive media; and residential systems, such as residential solutions, counter flow and rotary units, vacuum and geo thermal systems, ducts, cooker hoods, filters, valves and grilles, and accessories for residential systems. It also provides fire systems, comprising fire dampers, fire controls, smoke dampers, and accessories for fire safety; air distribution products consisting of grilles, air volume controls, air valves, diffusers, and accessories for air distribution products; air handling units, such as compact and central AHUs; air conditioning systems, including Hydronic (Water born) systems and DX (Refrigerant) systems; and production materials comprising metal parts, electrical components, and heaters/heat exchangers. In addition, the company offers swimming hall ventilation, and garage and tunnel ventilation products. Its products are used in buildings, including homes, offices, industrial premises, data centers, hospitals, swimming pool halls, multi-storey/underground car parks, underground rail tunnels, and other tunnels. The company sells its products to ventilation contractors, distributors of ventilation and electrical products, ventilation consultants, and construction companies under the Systemair, Frico, Fantech, and Menerga brand names. The company has a strategic partnership with Panasonic Corporation. It has operations in Europe, North and South America, the Middle East, Asia, and South Africa. The company was founded in 1974 and is headquartered in Skinnskatteberg, Sweden.

Details
Name: Systemair AB (publ)
SYSR
Exchange: OM
Founded: 1974
SEK5,694,000,000
52,000,000
Website: http://www.systemair.com
Address: Systemair AB (publ)
Industrivagen 3,
Skinnskatteberg,
Västmanland County, 739 30,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM SYSR Class A Shares OMX Nordic Exchange Stockholm SE SEK 12. Oct 2007
DB 52S Class A Shares Deutsche Boerse AG DE EUR 12. Oct 2007
LSE 0HDK Class A Shares London Stock Exchange GB SEK 12. Oct 2007
BATS-CHIXE SYSRs Class A Shares BATS 'Chi-X Europe' GB SEK 12. Oct 2007
Number of employees
Current staff
Staff numbers
5,943
Systemair employees.
Industry
Building Products
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/21 21:05
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/01
Last earnings filing: 2019/03/13
Last earnings reported: 2019/01/31
Last annual earnings reported: 2018/04/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.