Thule Group
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Thule Group AB (publ) operates in sports and outdoor industry worldwide. The last earnings update was 20 days ago. More info.
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THULE Share Price and Events
7 Day Returns
1 Year Returns
THULE Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Thule Group (THULE) | 0.2% | 3.7% | 17.6% | 2.2% | 85.3% | - |
| Europe Leisure | 2.9% | 8.5% | 11.1% | 16.5% | 57% | 97.8% |
| SE Market | 1.2% | 5.1% | 11.5% | 4.5% | 15.5% | 24.8% |
1 Year Return vs Industry and Market
- THULE underperformed the Leisure industry which returned 16.5% over the past year.
- THULE underperformed the Market in Sweden which returned 4.5% over the past year.
Value
Is Thule Group 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
Thule Group
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Thule Group.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 5 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 6.3% |
| 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.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year SE Govt Bond Rate | 0.4% |
| Equity Risk Premium | S&P Global | 6% |
| Leisure Unlevered Beta | Simply Wall St/ S&P Global | 0.91 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.913 (1 + (1- 22%) (10.06%)) |
0.99 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.99 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.43% + (0.99 * 5.96%) |
6.34% |
Discounted Cash Flow Calculation for OM:THULE using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Thule Group 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.
| Levered FCF (SEK, Millions) | Source |
Present Value Discounted (@ 6.34%) |
|
|---|---|---|---|
| 2019 | 888.75 | Analyst x4 | 835.80 |
| 2020 | 982.50 | Analyst x4 | 868.92 |
| 2021 | 1,049.00 | Analyst x4 | 872.46 |
| 2022 | 1,098.47 | Est @ 4.72% | 859.18 |
| 2023 | 1,136.17 | Est @ 3.43% | 835.72 |
| 2024 | 1,164.94 | Est @ 2.53% | 805.83 |
| 2025 | 1,187.11 | Est @ 1.9% | 772.24 |
| 2026 | 1,204.47 | Est @ 1.46% | 736.85 |
| 2027 | 1,218.37 | Est @ 1.15% | 700.95 |
| 2028 | 1,229.80 | Est @ 0.94% | 665.37 |
| Present value of next 10 years cash flows | SEK7,953.31 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= SEK1,229.80 × (1 + 0.43%) ÷ (6.34% – 0.43%) |
SEK20,931.55 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= SEK20,931.55 ÷ (1 + 6.34%)10 |
SEK11,324.88 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= SEK7,953.31 + SEK11,324.88 |
SEK19,278.19 |
| Equity Value per Share (SEK) |
= Total value / Shares Outstanding
= SEK19,278.19 / 103.21 |
SEK186.79 |
| Calculation | Result | |
|---|---|---|
| Value per share (SEK) | From above. | SEK186.79 |
| Current discount | Discount to share price of
SEK209.40
= -1 x (SEK209.40 - SEK186.79) / SEK186.79 |
-12.1% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Thule Group is above its future cash flow value.
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 Thule Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Thule Group's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in SEK | SEK8.13 |
| OM:THULE Share Price ** | OM (2019-04-24) in SEK | SEK209.4 |
| Europe Leisure Industry PE Ratio | Median Figure of 24 Publicly-Listed Leisure Companies | 18.58x |
| Sweden Market PE Ratio | Median Figure of 322 Publicly-Listed Companies | 17.25x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Thule Group.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = OM:THULE Share Price ÷ EPS (both in SEK) = 209.4 ÷ 8.13 |
25.77x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Thule Group is overvalued based on earnings compared to the Europe Leisure industry average.
- Thule Group is overvalued based on earnings compared to the Sweden market.
Price based on expected Growth
Does
Thule Group's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 25.77x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts |
11.8%per year |
| Europe Leisure Industry PEG Ratio | Median Figure of 11 Publicly-Listed Leisure Companies | 1.41x |
| Sweden Market PEG Ratio | Median Figure of 233 Publicly-Listed Companies | 1.31x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 25.77x ÷ 11.8% |
2.18x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Thule Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Thule Group's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in SEK | SEK38.87 |
| OM:THULE Share Price * | OM (2019-04-24) in SEK | SEK209.4 |
| Europe Leisure Industry PB Ratio | Median Figure of 28 Publicly-Listed Leisure Companies | 2.56x |
| Sweden Market PB Ratio | Median Figure of 566 Publicly-Listed Companies | 2.52x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = OM:THULE Share Price ÷ Book Value per Share (both in SEK) = 209.4 ÷ 38.87 |
5.39x |
* Primary Listing of Thule Group.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Thule Group is overvalued based on assets compared to the Europe Leisure industry average.
Value checks
We assess Thule Group's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Leisure industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Leisure industry average (and greater than 0)? (1 check) Thule Group has a total score of 0/6, 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.
Future Performance
How is Thule Group expected to perform in the next 1 to 3 years based on estimates from 5 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!
Earnings growth vs Low Risk Savings
- Thule Group's earnings growth is expected to exceed the low risk savings rate of 0.4%.
Growth vs Market Checks
- Thule Group's earnings growth is expected to exceed the Sweden market average.
- Thule Group's revenue growth is expected to exceed the Sweden market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| OM:THULE Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts | 11.8% |
| OM:THULE Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts | 5.7% |
| Europe Leisure Industry Earnings Growth Rate | Market Cap Weighted Average | 10.1% |
| Europe Leisure Industry Revenue Growth Rate | Market Cap Weighted Average | 6.7% |
| Sweden Market Earnings Growth Rate | Market Cap Weighted Average | 8.5% |
| 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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
| Date (Data in SEK Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 8,406 | 1 | ||
| 2022-12-31 | 8,083 | 1 | ||
| 2021-12-31 | 8,029 | 1,300 | 1,198 | 5 |
| 2020-12-31 | 7,545 | 1,218 | 1,084 | 5 |
| 2019-12-31 | 7,079 | 1,110 | 958 | 5 |
| Date (Data in SEK Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 6,484 | 606 | 837 |
| 2018-09-30 | 6,333 | 799 | 754 |
| 2018-06-30 | 6,157 | 820 | 750 |
| 2018-03-31 | 5,957 | 930 | 713 |
| 2017-12-31 | 5,872 | 972 | 690 |
| 2017-09-30 | 5,849 | 854 | 760 |
| 2017-06-30 | 5,759 | 772 | 732 |
| 2017-03-31 | 5,529 | 737 | 687 |
| 2016-12-31 | 5,304 | 878 | 653 |
| 2016-09-30 | 5,300 | 940 | 645 |
| 2016-06-30 | 5,349 | 915 | 636 |
| 2016-03-31 | 5,312 | 782 | 611 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
All data from Thule Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in SEK Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | ||||
| 2021-12-31 | 11.58 | 12.69 | 10.35 | 5.00 |
| 2020-12-31 | 10.50 | 10.94 | 9.87 | 5.00 |
| 2019-12-31 | 9.28 | 9.43 | 9.12 | 5.00 |
| Date (Data in SEK Millions) | EPS * |
|---|---|
| 2018-12-31 | 8.13 |
| 2018-09-30 | 7.34 |
| 2018-06-30 | 7.34 |
| 2018-03-31 | 6.98 |
| 2017-12-31 | 6.77 |
| 2017-09-30 | 7.47 |
| 2017-06-30 | 7.22 |
| 2017-03-31 | 6.79 |
| 2016-12-31 | 6.47 |
| 2016-09-30 | 6.40 |
| 2016-06-30 | 6.33 |
| 2016-03-31 | 6.09 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Thule Group's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Thule Group 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.
Past Performance
How has Thule Group 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
Past Earnings growth analysis
- Thule Group has delivered over 20% year on year earnings growth in the past 5 years.
- Thule Group's 1-year earnings growth exceeds its 5-year average (21.3% vs 20.9%)
- Thule Group's earnings growth has not exceeded the Europe Leisure industry average in the past year (21.3% vs 28.8%).
Earnings and Revenue History
All data from Thule Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in SEK Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 6,484.00 | 837.00 | 1,467.00 | |
| 2018-09-30 | 6,333.00 | 754.00 | 1,427.00 | |
| 2018-06-30 | 6,157.00 | 750.00 | 1,395.00 | |
| 2018-03-31 | 5,957.00 | 713.00 | 1,364.00 | |
| 2017-12-31 | 5,872.00 | 690.00 | 1,357.00 | |
| 2017-09-30 | 5,849.00 | 760.00 | 1,346.00 | |
| 2017-06-30 | 5,759.00 | 732.00 | 1,342.00 | |
| 2017-03-31 | 5,529.00 | 687.00 | 1,309.00 | |
| 2016-12-31 | 5,304.00 | 653.00 | 1,273.00 | |
| 2016-09-30 | 5,300.00 | 645.00 | 1,245.00 | |
| 2016-06-30 | 5,349.00 | 636.00 | 1,239.00 | |
| 2016-03-31 | 5,312.00 | 611.00 | 1,235.00 | |
| 2015-12-31 | 5,320.00 | 587.00 | 1,229.00 | |
| 2015-09-30 | 5,241.00 | 463.00 | 1,253.00 | |
| 2015-06-30 | 5,079.00 | 396.00 | 1,222.00 | |
| 2015-03-31 | 4,790.00 | 297.00 | 1,173.00 | |
| 2014-12-31 | 4,556.00 | 236.00 | 1,134.00 | |
| 2014-09-30 | 4,581.00 | 285.00 | 1,094.00 | |
| 2013-12-31 | 4,331.00 | 299.00 | 1,098.00 | |
| 2012-12-31 | 4,362.00 | 246.00 | 1,113.00 |
*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.
- Thule Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
- Thule Group used its assets more efficiently than the Europe Leisure industry average last year based on Return on Assets.
- Thule Group has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Thule Group's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Leisure industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Thule Group has a total score of 5/6, 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.
Health
How is Thule Group'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 Thule Group's finances.
The net worth of a company is the difference between its assets and liabilities.
- Thule Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Thule Group's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 1x 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.
All data from Thule Group Company Filings, last reported 3 months ago.
| Date (Data in SEK Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 4,012.00 | 2,175.00 | 186.00 |
| 2018-09-30 | 3,966.00 | 2,084.00 | 512.00 |
| 2018-06-30 | 3,819.00 | 2,240.00 | 169.00 |
| 2018-03-31 | 3,922.00 | 2,435.00 | 483.00 |
| 2017-12-31 | 3,467.00 | 2,312.00 | 581.00 |
| 2017-09-30 | 3,433.00 | 2,406.00 | 733.00 |
| 2017-06-30 | 3,308.00 | 2,467.00 | 232.00 |
| 2017-03-31 | 4,125.00 | 2,473.00 | 679.00 |
| 2016-12-31 | 3,826.00 | 2,501.00 | 763.00 |
| 2016-09-30 | 3,717.00 | 2,479.00 | 861.00 |
| 2016-06-30 | 3,507.00 | 2,431.00 | 532.00 |
| 2016-03-31 | 3,402.00 | 2,362.00 | 295.00 |
| 2015-12-31 | 3,228.00 | 2,381.00 | 274.00 |
| 2015-09-30 | 3,263.00 | 2,424.00 | 259.00 |
| 2015-06-30 | 3,257.00 | 2,683.00 | 126.00 |
| 2015-03-31 | 3,263.00 | 2,804.00 | 75.00 |
| 2014-12-31 | 2,966.00 | 2,668.00 | 114.00 |
| 2014-09-30 | 1,924.00 | 4,424.00 | 719.00 |
| 2013-12-31 | 1,802.00 | 4,724.00 | 385.00 |
| 2012-12-31 | 1,678.00 | 4,978.00 | 433.00 |
- Thule Group's level of debt (54.2%) 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 (262% vs 54.2% today).
- Debt is well covered by operating cash flow (27.9%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 35.1x coverage).
Financial health checks
We assess Thule Group's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Thule Group has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
Dividends
What is Thule Group'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
If you bought
SEK2,000 of
Thule Group
shares you are expected to receive
SEK67
in your first year as a dividend.
Dividend Amount
- Thule Group's pays a higher dividend yield than the bottom 25% of dividend payers in Sweden (1.85%).
- Thule Group's dividend is below the markets top 25% of dividend payers in Sweden (4.34%).
Upcoming dividend payment
Purchase Thule Group before the 'Buy Limit' to receive their next dividend payment.
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.
| 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 5 Analyst Estimates (S&P Global) | See Below |
| Europe Leisure Industry Average Dividend Yield | Market Cap Weighted Average of 17 Stocks | 2.4% |
| 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 | 1.8% |
| Sweden Top 25% Dividend Yield | 75th Percentile | 4.3% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in SEK) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | ||
| 2022-12-31 | ||
| 2021-12-31 | 9.28 | 5.00 |
| 2020-12-31 | 8.47 | 5.00 |
| 2019-12-31 | 7.60 | 5.00 |
| Date (Data in SEK) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-04-04 | 7.000 | 3.394 |
| 2019-02-13 | 7.000 | 3.419 |
| 2018-03-20 | 6.000 | 3.096 |
| 2017-03-21 | 3.400 | 2.016 |
| 2016-02-15 | 2.500 | 1.935 |
| 2015-03-25 | 2.000 | 1.949 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whilst dividend payments have been stable, Thule Group has been paying a dividend for less than 10 years.
- Dividend payments have increased, but Thule Group only paid a dividend in the past 4 years.
Income/ dividend checks
We assess Thule Group's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Thule Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Thule Group 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.
Management
CEO
| COMPENSATION | SEK15,193,000 |
| AGE | 52 |
| TENURE AS CEO | 9 years |
CEO Bio
Mr. Magnus Welander serves as the Chief Executive Officer and President of Thule Sweden AB. Mr. Welander has been the Chief Executive Officer and President of Thule Group AB since April 1, 2010. He served as Business Area President of Vehicle Accessories Europe/Asia of Thule Group AB. He was BA President of Outdoor & Bags Europe & ROW at Thule Group. He served as Chief Executive Officer and President of Envirotainer AB. He served as Technical Director at Tetra Pak Australia and various management positions at Tetra Pak Italy. He served as Chief Executive Officer of ETR Group AB and has been its Director since 2006. He has been a Director of MIPS AB (publ) since 2016. He has been Director of Envirotainer AB since 2006. Mr. Welander serves as Director of Brink Group B.V. He served as Director of Brink International AB, Britax Childcare Limited, Britax Group Ltd, CC (2011) Ltd, Brenderup Group AB, Brenderup AB, Brink International II AB and König IP AB. Mr. Welander holds MSc in Industrial Engineering and Management, Institute of Technology at Linköping University. He holds MSc in Civil Engineering from the Institute of Technology at Linköping University.
CEO Compensation
- Magnus's compensation has increased by more than 20% in the past year.
- Magnus's remuneration is higher than average for companies of similar size in Sweden.
Management Team Tenure
Average tenure and age of the Thule Group management team in years:
- The average tenure for the Thule Group management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Magnus Welander
CEO & President
SEK15M
52
9 yrs
Lennart Mauritzson
Chief Financial Officer
51
8.3 yrs
Fredrik Erlandsson
Senior Vice President of Communications & Investor Relations
48
9.3 yrs
Kajsa von Geijer
Senior Vice President of Human Resources & Sustainability
54
14.3 yrs
Fred Clark
President of Region Americas
59
16.3 yrs
Peter Linderoth
Secretary
Board of Directors Tenure
Average tenure and age of the Thule Group board of directors in years:
- The average tenure for the Thule Group board of directors is less than 3 years, this suggests a new board.
Board of Directors
Bengt Baron
Chairman of the Board
SEK469K
56
1 yrs
Hans Eckerström
Director
SEK394K
46
12.3 yrs
Liv Forhaug
Independent Director
SEK325K
48
5 yrs
Heléne Mellquist
Director
SEK370K
54
2.9 yrs
Eva Elmstedt
Director
SEK244K
58
2 yrs
Mattias Ankarberg
Director
42
1.3 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (SEK) | Value (SEK) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 28. Feb 19 | Sell | Kajsa von Geijer | Individual | 28. Feb 19 | 28. Feb 19 | -20,000 | SEK206.44 | SEK-4,128,836 | ||
Management checks
We assess Thule Group's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Thule Group 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.
News
Simply Wall St News
Is Thule Group AB (publ)'s (STO:THULE) ROE Of 21% Impressive?
Our data shows Thule Group has a return on equity of 21% for the last year. … That means that for every SEK1 worth of shareholders' equity, it generated SEK0.21 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleThule Group AB (publ) (STO:THULE): Can Growth Justify Its April Share Price?
Thule Group AB (publ) (STO:THULE) is a stock well-positioned for future growth, but many investors are wondering whether its last closing price of SEK208.8 is based on unrealistic expectations. … See our latest analysis for Thule Group? … According to the analysts covering the company, the following few years should bring about good growth prospects for Thule Group
Simply Wall St - – Full articleWhat Should Investors Know About Thule Group AB (publ)'s (STO:THULE) Future?
On 31 December 2018, Thule Group AB (publ) (STO:THULE) released its earnings update. … the consensus outlook from analysts appear somewhat bearish, … the higher past 5-year average growth rate of 21%.
Simply Wall St - – Full articleWhen Should You Buy Thule Group AB (publ) (STO:THULE)?
Thule Group AB (publ) (STO:THULE), which is in the leisure business, and is based in Sweden,. … With many analysts covering the mid-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Let’s take a look at Thule Group’s outlook and value based on the most recent financial data to see if the opportunity still exists
Simply Wall St - – Full articleIs Thule Group AB (publ) (STO:THULE) A Financially Sound Company?
Small-cap and large-cap companies receive a lot of attention from investors, but mid-cap stocks like Thule Group AB (publ) (STO:THULE), with a market cap of kr21b, are often out of the spotlight. … Don’t forget that this is a general and concentrated examination of Thule Group’s financial health, so you should conduct further analysis. … Check out our latest analysis for Thule Group
Simply Wall St - – Full articleCan You Imagine How Thule Group's (STO:THULE) Shareholders Feel About The 86% Share Price Increase?
For example, the Thule Group AB (publ) (STO:THULE) share price is up 86% in the last three years, clearly besting than the market return of around 11% (not including dividends). … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During three years of share price growth, Thule Group achieved compound earnings per share growth of 11% per year.
Simply Wall St - – Full articleWhat Should Investors Know About Thule Group AB (publ)'s (STO:THULE) Growth?
In December 2018, Thule Group AB (publ) (STO:THULE) released its most recent earnings announcement, whicha
Simply Wall St - – Full articleWhy You Should Buy Thule Group AB (publ) (STO:THULE) In This Bear Market
Thule Group AB (publ) is a financially healthy and robust stock with a proven track record of outperformance. … We all know Thule Group, and having this large-cap to cushion your portfolio during a volatile period in the stock market isn't a bad idea. … Thule Group AB (publ) operates in sports and outdoor industry worldwide
Simply Wall St - – Full articleDon't Sell Thule Group AB (publ) (STO:THULE) Before You Read This
Based on the last twelve months, Thule Group's P/E ratio is 25.03. … How Do I Calculate Thule Group's Price To Earnings Ratio … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleIs Thule Group AB (publ) (STO:THULE) A Great Dividend Stock?
Dividends can be underrated but they form a large part of investment returns, playing an important role in compounding returns in the long run. … Thule Group AB (publ) (STO:THULE) has recently paid dividends to shareholders, and currently yields 3.0%. … Let's take a look at Thule Group in more detail.
Simply Wall St - – Full articleCompany Info
Description
Thule Group AB (publ) operates in sports and outdoor industry worldwide. It offers roof racks and boxes, racks for bikes, and water and winter sports equipment being transported by car; computer and camera bags, luggage, and hiking backpacks; bicycle trailers, strollers, and child bike seats; and awnings, bike carriers, and tents for motor homes and caravans. The company offers its products primarily under the Thule, Case Logic, TracRac, and SportRack brands. It sells its products to retailers. Thule Group AB (publ) was founded in 1942 and is headquartered in Malmö, Sweden.
Details
| Name: | Thule Group AB (publ) |
| THULE | |
| Exchange: | OM |
| Founded: | 1942 |
| SEK21,611,882,096 | |
| 103,208,606 | |
| Website: | http://www.thulegroup.com |
| Address: |
Thule Group AB (publ) Fosievägen 13, Malmö, Skåne County, 214 31, Sweden |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| OM | THULE | Ordinary Shares | OMX Nordic Exchange Stockholm | SE | SEK | 26. Nov 2014 | |
| OTCPK | THLP.F | Ordinary Shares | Pink Sheets LLC | US | USD | 26. Nov 2014 | |
| DB | TU0 | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 26. Nov 2014 | |
| LSE | 0R3W | Ordinary Shares | London Stock Exchange | GB | SEK | 26. Nov 2014 | |
| BATS-CHIXE | THULEs | Ordinary Shares | BATS 'Chi-X Europe' | GB | SEK | 26. Nov 2014 |
Number of employees
Current staff
Industry
| Leisure Products | |
| Consumer Durables |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/24 22:48 |
| End of day share price update: | 2019/04/24 00:00 |
| Last estimates confirmation: | 2019/04/24 |
| Last earnings filing: | 2019/04/04 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
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.
