OM:SVIK

Stock Analysis Report

Executive Summary

Studsvik AB (publ) develops, sells, and delivers various technical solutions to the nuclear and radiological sectors in Europe, the Middle East, Asia, and North America.


Snowflake Analysis

Reasonable growth potential and fair value.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-0.3%

SVIK

-0.7%

SE Commercial Services

1.4%

SE Market


1 Year Return

-22.9%

SVIK

18.4%

SE Commercial Services

25.4%

SE Market

Return vs Industry: SVIK underperformed the Swedish Commercial Services industry which returned 19.4% over the past year.

Return vs Market: SVIK underperformed the Swedish Market which returned 26.1% over the past year.


Shareholder returns

SVIKIndustryMarket
7 Day-0.3%-0.7%1.4%
30 Day-9.8%-2.5%1.8%
90 Day27.4%1.6%7.7%
1 Year-22.9%-22.9%22.1%18.4%30.6%25.4%
3 Year-50.5%-51.4%19.0%8.7%38.7%17.4%
5 Year-12.1%-13.6%55.6%33.2%54.6%21.3%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SVIK (SEK29.9) is trading below our estimate of fair value (SEK254.57)

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


Price To Earnings Ratio

PE vs Industry: SVIK is unprofitable, so we can't compare its PE Ratio to the Commercial Services industry average.

PE vs Market: SVIK is unprofitable, so we can't compare its PE Ratio to the Swedish market.


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: SVIK is good value based on its PB Ratio (0.8x) compared to the SE Commercial Services industry average (1.8x).


Next Steps

Future Growth

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

107.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SVIK is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (-0.4%).

Earnings vs Market: SVIK is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: SVIK's is expected to become profitable in the next 3 years.

Revenue vs Market: SVIK's revenue (7.4% per year) is forecast to grow faster than the Swedish market (4.4% per year).

High Growth Revenue: SVIK's revenue (7.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SVIK's Return on Equity is forecast to be low in 3 years time (7.6%).


Next Steps

Past Performance

How has Studsvik performed over the past 5 years?

10.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SVIK is currently unprofitable.

Growing Profit Margin: SVIK is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: SVIK is unprofitable, but has reduced losses over the past 5 years at a rate of 10.9% per year.

Accelerating Growth: Unable to compare SVIK's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: SVIK is unprofitable, making it difficult to compare its past year earnings growth to the Commercial Services industry (5.9%).


Return on Equity

High ROE: SVIK has a negative Return on Equity (-15.26%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Studsvik's financial position?


Financial Position Analysis

Short Term Liabilities: SVIK's short term assets (SEK257.0M) do not cover its short term liabilities (SEK283.1M).

Long Term Liabilities: SVIK's short term assets (SEK257.0M) exceed its long term liabilities (SEK198.7M).


Debt to Equity History and Analysis

Debt Level: SVIK's debt to equity ratio (40.4%) is considered high.

Reducing Debt: SVIK's debt to equity ratio has reduced from 78.9% to 40.4% over the past 5 years.


Balance Sheet

Inventory Level: SVIK has a low level of unsold assets or inventory.

Debt Coverage by Assets: SVIK's debt is covered by short term assets (assets are 2.1x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: SVIK has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if SVIK has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

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


Dividend Yield vs Market

company0%marketbottom25%1.6%markettop25%4.5%industryaverage3.0%forecastin3Years0%

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate SVIK's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate SVIK's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if SVIK's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SVIK's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: SVIK is not paying a notable dividend for the Swedish market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of SVIK's dividend in 3 years as they are not forecast to pay a notable one for the Swedish market.


Next Steps

Management

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

1.2yrs

Average management tenure


CEO

Camilla Hoflund (50yo)

2yrs

Tenure

0

Ms. Camilla Hoflund has been President and Chief Executive Officer of Studsvik AB (publ) since January 1, 2018. Ms. Hoflund serves as head of the materials technology department of Studsvik Nuclear, which  ...


Management Age and Tenure

1.2yrs

Average Tenure

55yo

Average Age

Experienced Management: SVIK's management team is not considered experienced ( 1.2 years average tenure), which suggests a new team.


Board Age and Tenure

6.8yrs

Average Tenure

58yo

Average Age

Experienced Board: SVIK's board of directors are considered experienced (6.8 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Buykr61,95609 Aug 19
Mikael Karlsson
EntityIndividual
Role
Senior Key Executive
Head of the Consultancy Services Business Area
Shares2,101
Max Pricekr29.50
Buykr250,10030 Jul 19
Camilla Hoflund
EntityIndividual
Role
Chief Executive Officer
CEO & President
Shares8,200
Max Pricekr30.50

Ownership Breakdown

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


Management Team

  • Mikael Karlsson (57yo)

    Head of the Consultancy Services Business Area

    • Tenure: 1.4yrs
  • Steven Freel (55yo)

    Head of Studsvik Scandpower Business Area

    • Camilla Hoflund (50yo)

      CEO & President

      • Tenure: 2yrs
    • Joakim Lundström (41yo)

      Business Area President Fuel & Materials Technology & Head of Fuel & Materials Technology

      • Claes Engvall (55yo)

        Chief Financial Officer

        • Tenure: 1yrs
      • Arthur Digiovine

        Senior Vice President of Business Development

        • Tenure: 0.6yrs

      Board Members

      • Stina Barchan (73yo)

        Director

        • Tenure: 15.8yrs
        • Compensation: kr225.00k
      • Anders Ullberg (73yo)

        Chairman of the Board

        • Tenure: 12.8yrs
        • Compensation: kr725.00k
      • Peter Gossas (70yo)

        Independent Director

        • Tenure: 6.8yrs
        • Compensation: kr375.00k
      • Roger Lundström (53yo)

        Former Employee Representative Director

        • Tenure: 2yrs
      • Anna Karinen (56yo)

        Vice Chairman of the Board

        • Tenure: 13yrs
        • Compensation: kr225.00k
      • Per Ekberg (60yo)

        Independent Director

        • Tenure: 2yrs
      • Agneta Nestenborg (58yo)

        Independent Director

        • Tenure: 9.8yrs
        • Compensation: kr300.00k
      • Linda Ekstrand (37yo)

        Independent Director

        • Tenure: 2.3yrs
      • Jennifer Arnesson (30yo)

        Alternate Director

        • Tenure: 2.3yrs

      Company Information

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


      Key Information

      • Name: Studsvik AB (publ)
      • Ticker: SVIK
      • Exchange: OM
      • Founded: 1947
      • Industry: Environmental and Facilities Services
      • Sector: Commercial Services
      • Market Cap: kr240.805m
      • Shares outstanding: 8.22m
      • Website: https://www.studsvik.com

      Number of Employees


      Location

      • Studsvik AB (publ)
      • Nyköping
      • Södermanland County
      • 611 82
      • Sweden

      Listings

      TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
      SVIKOM (OMX Nordic Exchange Stockholm)YesOrdinary SharesSESEKMay 2001
      0GO6LSE (London Stock Exchange)YesOrdinary SharesGBSEKMay 2001
      SVIKSBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBSEKMay 2001

      Biography

      Studsvik AB (publ) develops, sells, and delivers various technical solutions to the nuclear and radiological sectors in Europe, the Middle East, Asia, and North America. It offers consultancy and engineering services, including radioactive waste management, radiation safety and protection, nuclear decommissioning, environmental, safety analysis, licensing, and strategy planning services, as well as engineering, design, and analysis services. The company also provides fuel and materials technology services comprising fuel qualification, plant life management, hot cell technology, final storage research, and transport of irradiated materials; and engineering and customer support services, as well as operates Studsvik Cladding Integrity Program. In addition, it offers a range of products, software systems, or technologies, such as The Excavator Mounted Bucket Assay System designed to assay and determine the radiological contents of excavator bucket; Freeze-Tec for waste management issues; Fluid Bed Steam Reforming for waste treatment; CASMO5, a lattice physics code for modeling power-dependent limits (PWR) and thermal limits (BWR) fuel; HELIOS-2, a generalized-geometry lattice physics code; and SIMULATE5, a 3D multi-group nodal code for the analysis of PWRs and BWRs. Further, the company provides SIMULATE-3K, a two-group nodal code for analysis of PWRs and BWRs; XIMAGE, a graphical fuel management and loading pattern optimization suit; S3R that enables cycle-specific core modeling on the training simulator; GARDEL, an online core monitoring suite with built-in reactivity management tools; MARLA, a tool for planning and optimizing BWR fuel shuffles; and SNF, which calculates isotopic concentrations, radiation source terms, and decay heat of spent PWR and BWR fuel. The company was formerly known as Studsvik Energiteknik AB and changed its name to Studsvik AB (publ) in 1987. Studsvik AB (publ) was founded in 1947 and is headquartered in Nyköping, Sweden. 


      Company Analysis and Financial Data Status

      All financial data provided by Standard & Poor's Capital IQ.
      DataLast Updated (UTC time)
      Company Analysis2020/01/23 20:54
      End of Day Share Price2020/01/23 00:00
      Earnings2019/09/30
      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.