OM:SKIS B

Stock Analysis Report

Executive Summary

SkiStar AB (publ) owns and operates alpine ski resorts in Sweden, Norway, and Austria.

Snowflake

Fundamentals

Average dividend payer with mediocre balance sheet.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0%

SKIS B

0.9%

SE Hospitality

2.2%

SE Market


1 Year Return

-3.3%

SKIS B

11.3%

SE Hospitality

16.0%

SE Market

Return vs Industry: SKIS B underperformed the Swedish Hospitality industry which returned 11.3% over the past year.

Return vs Market: SKIS B underperformed the Swedish Market which returned 16% over the past year.


Shareholder returns

SKIS BIndustryMarket
7 Day0%0.9%2.2%
30 Day-8.3%2.4%2.7%
90 Day-1.9%0.5%4.2%
1 Year-0.2%-3.3%13.8%11.3%21.0%16.0%
3 Year72.8%58.0%28.3%20.8%34.5%14.2%
5 Year213.8%170.4%22.2%12.6%61.7%27.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

6.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SKIS B (SEK112.2) is trading below our estimate of fair value (SEK119.57)

Significantly Below Fair Value: SKIS B is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: SKIS B is poor value based on its PE Ratio (18.9x) compared to the Hospitality industry average (14.6x).

PE vs Market: SKIS B is poor value based on its PE Ratio (18.9x) compared to the Swedish market (16.9x).


Price to Earnings Growth Ratio

PEG Ratio: SKIS B is poor value based on its PEG Ratio (3.5x)


Price to Book Ratio

PB vs Industry: SKIS B is overvalued based on its PB Ratio (3.5x) compared to the SE Hospitality industry average (3x).


Next Steps

Future Growth

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

5.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SKIS B's forecast earnings growth (5.4% per year) is above the savings rate (0.4%).

Earnings vs Market: SKIS B's earnings (5.4% per year) are forecast to grow slower than the Swedish market (8.8% per year).

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

Revenue vs Market: SKIS B's revenue (3% per year) is forecast to grow slower than the Swedish market (4.5% per year).

High Growth Revenue: SKIS B's revenue (3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SKIS B's Return on Equity is forecast to be low in 3 years time (16.9%).


Next Steps

Past Performance

How has SkiStar performed over the past 5 years?

21.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: SKIS B's earnings have grown significantly by 21.5% per year over the past 5 years.

Accelerating Growth: SKIS B's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SKIS B had negative earnings growth (-4.7%) over the past year, making it difficult to compare to the Hospitality industry average (19.4%).


Return on Equity

High ROE: SKIS B's Return on Equity (17.7%) is considered low.


Return on Assets

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


Return on Capital Employed

ROCE Improving: SKIS B has improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is SkiStar's financial position?


Financial Position Analysis

Short Term Liabilities: SKIS B's short term assets (SEK550.7M) do not cover its short term liabilities (SEK636.5M)

Long Term Liabilities: SKIS B's short term assets (550.7M) do not cover its long term liabilities (1.8B)


Debt to Equity History and Analysis

Debt Level: SKIS B's debt to equity ratio (68.3%) is considered high

Reducing Debt: SKIS B's debt to equity ratio has reduced from 137.3% to 68.3% over the past 5 years.

Debt Coverage: SKIS B's debt is well covered by operating cash flow (40.6%).

Interest Coverage: SKIS B's interest payments on its debt are well covered by EBIT (12.7x coverage).


Balance Sheet

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

Debt Coverage by Assets: SKIS B's debt is not covered by short term assets (assets are 0.3x debt).


Next Steps

Dividend

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

3.12%

Current Dividend Yield


Upcoming Dividend Payment

Purchase SkiStar before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company3.1%marketbottom25%1.8%markettop25%4.7%industryaverage3.7%forecastin3Years3.3%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: SKIS B's dividend (3.12%) is higher than the bottom 25% of dividend payers in the Swedish market (1.81%).

High Dividend: SKIS B's dividend (3.12%) is low compared to the top 25% of dividend payers in the Swedish market (4.71%).

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (58.8%), SKIS B's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SKIS B's dividends in 3 years are forecast to be covered by earnings (56.6% payout ratio).


Next Steps

Management

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

2.6yrs

Average board tenure


CEO

Mats Årjes (52yo)

17.8yrs

Tenure

0

Mr. Mats Årjes has been the Chief Executive Officer at SkiStar AB (publ) since 2002 Mr. Årjes served at Santaworld AB from 1992 to 1996, Mora Hotell AB from 1996 to 1998 and Skistar AB (publ) since 2002. M ...


Board Age and Tenure

2.6yrs

Average Tenure

51yo

Average Age

Experienced Board: SKIS B's board of directors are not considered experienced ( 2.6 years average tenure), which suggests a new board.


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

Sellkr74,951,13417 May 19
Mats Årjes
EntityIndividual
Role
Chief Executive Officer
CEO & Director
Shares640,608
Max Pricekr117.00

Ownership Breakdown


Management Team

  • Mats Årjes (52yo)

    CEO & Director

    • Tenure: 17.8yrs
  • Mathias Lindström (47yo)

    Manager of Marketing & Sales

    • Tenure: 12.8yrs
  • Bo Halvardsson (64yo)

    Resort Manager of Norway

    • Tenure: 0yrs
  • Åsa Linder (51yo)

    Secretary

    • Tenure: 0yrs
  • Anders Örnulf (43yo)

    Chief Financial Officer

    • Tenure: 0yrs
  • Sofie Arnell (33yo)

    Legal Counsel & Head of IR

    • Tenure: 0yrs

Board Members

  • Mats Årjes (52yo)

    CEO & Director

    • Tenure: 17.8yrs
  • Sara Karlsson (50yo)

    Director

    • Tenure: 1.8yrs
    • Compensation: kr220.00k
  • Fredrik Paulsson (47yo)

    Director

    • Tenure: 1.8yrs
    • Compensation: kr245.00k
  • Lena Apler (68yo)

    Director

    • Tenure: 4.8yrs
    • Compensation: kr180.00k
  • Eivor Andersson (58yo)

    Independent Chairman of the Board

    • Tenure: 0yrs
    • Compensation: kr260.00k
  • Patrik Svard (49yo)

    Employee Representative Director

    • Tenure: 2.6yrs

Company Information

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


Key Information

  • Name: SkiStar AB (publ)
  • Ticker: SKIS B
  • Exchange: OM
  • Founded:
  • Industry: Leisure Facilities
  • Sector: Consumer Services
  • Market Cap: kr8.794b
  • Shares outstanding: 78.38m
  • Website: https://www.skistar.com

Number of Employees


Location

  • SkiStar AB (publ)
  • Sälfjällsgården
  • Sälen
  • 780 67
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SKIS BOM (OMX Nordic Exchange Stockholm)YesClass B SharesSESEKJul 1994
3AJDB (Deutsche Boerse AG)YesClass B SharesDEEURJul 1994
SKISBsBATS-CHIXE (BATS 'Chi-X Europe')YesClass B SharesGBSEKJul 1994

Biography

SkiStar AB (publ) owns and operates alpine ski resorts in Sweden, Norway, and Austria. The company operates through three segments: Ski Resorts – Operation, Infrastructure, and Exploitation. It provides sk ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 20:48
End of Day Share Price2019/10/22 00:00
Earnings2019/08/31
Annual Earnings2019/08/31


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.