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Catella

OM:CAT B
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CAT B
OM
SEK2B
Market Cap
  1. Home
  2. SE
  3. Diversified Financials
Company description

Catella AB (publ), together with its subsidiaries, provides property advisory and investments, fund management, and banking services in Europe. The last earnings update was 11 days ago. More info.


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CAT B Share Price and Events
7 Day Returns
-0.7%
OM:CAT B
-0.9%
SE Capital Markets
1.4%
SE Market
1 Year Returns
14.8%
OM:CAT B
-14.8%
SE Capital Markets
-2%
SE Market
CAT B Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Catella (CAT B) -0.7% 6.5% 17.2% 14.8% 41.4% 250%
SE Capital Markets -0.9% -2.4% -7% -14.8% 14.3% 63%
SE Market 1.4% -3.3% 1.1% -2% 13% 16.7%
1 Year Return vs Industry and Market
  • CAT B outperformed the Capital Markets industry which returned -14.8% over the past year.
  • CAT B outperformed the Market in Sweden which returned -2% over the past year.
Price Volatility
CAT B
Industry
5yr Volatility vs Market

CAT B Value

 Is Catella 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 Catella 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 Catella.

OM:CAT B Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= SEK21.67 * 18.1%
SEK3.93
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. SEK21.67
Discount Rate (Cost of Equity) See below 5.9%
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:CAT B
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SE Govt Bond Rate 0.4%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.7
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.701 (1 + (1- 22%) (30.94%))
0.913
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.91
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.43% + (0.913 * 5.96%)
5.88%

Discounted Cash Flow Calculation for OM:CAT B using Excess Returns Model Model

The calculations below outline how an intrinsic value for Catella is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

OM:CAT B Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (18.1% – 5.88%) * SEK21.67)
SEK2.66
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= SEK2.66 / (5.88% - 0.43%)
SEK48.82
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= SEK21.67 + SEK48.82
SEK70.49
OM:CAT B Discount to Share Price
Calculation Result
Value per share (SEK) From above. SEK70.49
Current discount Discount to share price of SEK28.00
= -1 x (SEK28.00 - SEK70.49) / SEK70.49
60.3%

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

Current Discount
Amount off the current price Catella is available for.
Intrinsic value
>50%
Share price is SEK28 vs Future cash flow value of SEK70.49
Current Discount Checks
For Catella to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Catella's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Catella's share price is below the future cash flow value, and 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 Catella's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Catella's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OM:CAT B PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in SEK SEK1.01
OM:CAT B Share Price ** OM (2019-05-21) in SEK SEK28
Europe Capital Markets Industry PE Ratio Median Figure of 130 Publicly-Listed Capital Markets Companies 17.13x
Sweden Market PE Ratio Median Figure of 323 Publicly-Listed Companies 16.74x

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

** Primary Listing of Catella.

OM:CAT B PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 28 ÷ 1.01

27.74x

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

  • Catella is overvalued based on earnings compared to the Europe Capital Markets industry average.
  • Catella is overvalued based on earnings compared to the Sweden market.
Price based on expected Growth
Does Catella's expected growth come at a high price?
Raw Data
OM:CAT B PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 27.74x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
22.9%per year
Europe Capital Markets Industry PEG Ratio Median Figure of 60 Publicly-Listed Capital Markets Companies 1.39x
Sweden Market PEG Ratio Median Figure of 235 Publicly-Listed Companies 1.31x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 27.74x ÷ 22.9%

1.21x

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

  • Catella is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Catella's assets?
Raw Data
OM:CAT B PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in SEK SEK19.07
OM:CAT B Share Price * OM (2019-05-21) in SEK SEK28
Sweden Capital Markets Industry PB Ratio Median Figure of 5 Publicly-Listed Capital Markets Companies 1.47x
Sweden Market PB Ratio Median Figure of 568 Publicly-Listed Companies 2.45x
OM:CAT B PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 28 ÷ 19.07

1.47x

* Primary Listing of Catella.

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

  • Catella is good value based on assets compared to the SE Capital Markets industry average.
X
Value checks
We assess Catella'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 Capital Markets 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 Capital Markets industry average (and greater than 0)? (1 check)
  5. Catella 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.

CAT B Future Performance

 How is Catella 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
22.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Catella expected to grow at an attractive rate?
  • Catella's earnings growth is expected to exceed the low risk savings rate of 0.4%.
Growth vs Market Checks
  • Catella's earnings growth is expected to exceed the Sweden market average.
  • Catella's revenue growth is positive but not above the Sweden market average.
Annual Growth Rates Comparison
Raw Data
OM:CAT B Future Growth Rates Data Sources
Data Point Source Value (per year)
OM:CAT B Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 22.9%
OM:CAT B Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 4.1%
Europe Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 14.2%
Europe Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 5.7%
Sweden Market Earnings Growth Rate Market Cap Weighted Average 8.6%
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:CAT B Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month 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:CAT B Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 2,572 1
2021-12-31 2,529 426 297 3
2020-12-31 2,425 399 292 3
2019-12-31 2,333 366 258 3
OM:CAT B Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2019-03-31 2,195 -1,680 84
2018-12-31 2,159 344 126
2018-09-30 2,614 239 192
2018-06-30 2,604 789 227
2018-03-31 1,916 385 255
2017-12-31 1,998 297 245
2017-09-30 1,932 700 155
2017-06-30 1,952 42 131
2017-03-31 2,055 -130 288
2016-12-31 2,012 -137 272
2016-09-30 1,976 758 358
2016-06-30 1,955 293 359

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Catella's earnings are expected to grow significantly at over 20% yearly.
  • Catella's revenue is expected to grow by 4.1% 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:CAT B Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Catella Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:CAT B Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 3.42 3.97 2.90 3.00
2020-12-31 3.36 4.07 2.63 3.00
2019-12-31 2.98 3.29 2.67 2.00
OM:CAT B Past Financials Data
Date (Data in SEK Millions) EPS *
2019-03-31 1.01
2018-12-31 1.51
2018-09-30 2.30
2018-06-30 2.74
2018-03-31 3.08
2017-12-31 2.99
2017-09-30 1.90
2017-06-30 1.60
2017-03-31 3.53
2016-12-31 3.32
2016-09-30 4.37
2016-06-30 4.39

*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.
  • Catella is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Catella'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Catella has a total score of 3/6, 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.

CAT B Past Performance

  How has Catella 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 Catella's growth in the last year to its industry (Capital Markets).
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.
  • Catella's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Catella's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Catella's 1-year earnings growth is negative, it can't be compared to the Europe Capital Markets industry average.
Earnings and Revenue History
Catella'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 Catella Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:CAT B Past Revenue, Cash Flow and Net Income Data
Date (Data in SEK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 2,195.00 84.00 1,449.00
2018-12-31 2,159.00 126.00 1,426.00
2018-09-30 2,614.00 192.00 1,627.00
2018-06-30 2,604.00 227.00 1,596.00
2018-03-31 1,916.00 255.00 1,143.00
2017-12-31 1,998.00 245.00 1,197.00
2017-09-30 1,932.00 155.00 1,194.00
2017-06-30 1,952.00 131.00 1,237.00
2017-03-31 2,055.00 288.00 1,356.00
2016-12-31 2,012.00 272.00 1,318.00
2016-09-30 1,976.00 358.00 1,283.00
2016-06-30 1,955.00 359.00 1,280.00
2016-03-31 1,898.00 225.00 1,244.00
2015-12-31 1,862.00 243.00 1,238.00
2015-09-30 1,775.00 216.00 1,196.00
2015-06-30 1,666.00 200.00 1,135.00
2015-03-31 1,597.00 237.00 1,079.00
2014-12-31 1,451.00 217.00 989.00
2014-09-30 1,295.00 117.00 917.00
2014-06-30 1,209.00 106.00 868.00
2014-03-31 1,101.00 32.00 815.00
2013-12-31 1,022.00 -22.00 801.00
2013-09-30 971.00 -4.00 744.00
2013-06-30 943.00 -45.00 726.00
2013-03-31 929.00 -60.00 720.00
2012-12-31 971.00 -14.00 726.00
2012-09-30 1,092.00 37.00 980.00
2012-06-30 1,056.00 8.00 919.00

*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.
  • Catella has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Catella used its assets less efficiently than the Europe Capital Markets industry average last year based on Return on Assets.
  • Catella's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Catella'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 Capital Markets 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.
Catella 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.

CAT B Health

 How is Catella'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 Catella's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Catella is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Catella's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Catella'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 3.6x 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 Catella Company Filings, last reported 1 month ago.

OM:CAT B Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,824.00 749.00 824.00
2018-12-31 1,647.00 748.00 801.00
2018-09-30 1,748.00 748.00 1,071.00
2018-06-30 1,791.00 4,455.00 3,469.00
2018-03-31 1,835.00 3,265.00 2,959.00
2017-12-31 1,943.00 3,400.00 3,272.00
2017-09-30 1,798.00 3,902.00 3,522.00
2017-06-30 1,717.00 2,978.00 2,464.00
2017-03-31 1,791.00 2,898.00 2,518.00
2016-12-31 1,730.00 3,066.00 2,827.00
2016-09-30 1,675.00 2,886.00 2,795.00
2016-06-30 1,603.00 2,823.00 2,604.00
2016-03-31 1,486.00 2,853.00 2,661.00
2015-12-31 1,436.00 2,827.00 2,968.00
2015-09-30 1,326.00 1,925.00 2,006.00
2015-06-30 1,251.00 2,275.00 2,301.00
2015-03-31 1,248.00 2,259.00 2,298.00
2014-12-31 1,252.00 2,463.00 2,571.00
2014-09-30 1,116.00 2,535.00 2,514.00
2014-06-30 1,051.00 2,168.00 2,031.00
2014-03-31 945.00 1,962.00 1,923.00
2013-12-31 932.00 2,144.00 1,906.00
2013-09-30 906.00 418.00 1,934.00
2013-06-30 896.00 2,331.00 1,986.00
2013-03-31 856.00 304.00 1,726.00
2012-12-31 925.00 2,176.00 1,708.00
2012-09-30 891.00 362.00 2,110.00
2012-06-30 948.00 212.00 1,978.00
  • Catella's level of debt (41.1%) 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 (207.6% vs 41.1% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 23.6x coverage).
X
Financial health checks
We assess Catella'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. Catella 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.

CAT B Dividends

 What is Catella'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
4.29%
Current annual income from Catella dividends. Estimated to be 5.8% next year.
If you bought SEK2,000 of Catella shares you are expected to receive SEK86 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?
  • Catella's pays a higher dividend yield than the bottom 25% of dividend payers in Sweden (1.81%).
  • Catella's dividend is below the markets top 25% of dividend payers in Sweden (4.42%).
Upcoming dividend payment

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

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:CAT B 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
Europe Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 103 Stocks 3.7%
Sweden Market Average Dividend Yield Market Cap Weighted Average of 243 Stocks 3.2%
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 4.4%

Industry and Market average data is calculated daily.

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

OM:CAT B Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 1.67 3.00
2020-12-31 1.70 3.00
2019-12-31 1.45 2.00
OM:CAT B Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2019-04-25 1.200 4.297
2018-04-25 1.000 4.272
2017-04-28 0.800 3.952
2017-02-21 0.800 4.083
2016-04-29 0.600 2.846
2016-02-19 0.600 3.140
2015-04-24 0.200 1.254
2015-02-19 0.200 1.250

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

  • Whilst dividend payments have been stable, Catella has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Catella only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of Catella's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
X
Income/ dividend checks
We assess Catella'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 Catella afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Catella has a total score of 2/6, see the detailed checks below.


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

CAT B Management

 What is the CEO of Catella'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
Knut Pedersen
COMPENSATION SEK7,797,000
AGE 50
TENURE AS CEO 5.3 years
CEO Bio

Mr. Knut Pedersen serves as Director of Catella Bank S.A and served as its Group Chief Executive Officer and Group President. Mr. Pedersen has been the Chief Executive Officer and President of Catella AB (publ) since January 1, 2014. He served as a Global Head of Markets - Stockholm at ABG Sundal Collier Holding ASA until June 26, 2013. Mr. Pedersen holds B.Sc. (Econ.) from Ross School of Economics, The University of Michigan.

CEO Compensation
  • Knut's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Knut's remuneration is higher than average for companies of similar size in Sweden.
Management Team

Per Claesson

TITLE
Principal Owner & Chairman
COMPENSATION
SEK580K
AGE
67

Knut Pedersen

TITLE
President & CEO
COMPENSATION
SEK8M
AGE
50
TENURE
5.3 yrs

Marcus Holmstrand

TITLE
Chief Financial Officer
AGE
38
TENURE
3.7 yrs

Jonas Burvall

TITLE
Head of Group Communications
AGE
46

Lars Palm

TITLE
Executive Vice President and President of Toshiba Document Solutions Division
AGE
71

Fredrik Bergholm

TITLE
Head of Consumer

Andreas Kneip

TITLE
Head of The German Fund Operation

Mikael Pauli

TITLE
Head of Wealth Management

Jonathan Reddin

TITLE
Head of Cards & Payment Solutions and Executive Director

Emmanuel Schreder

TITLE
Head of Corporate Finance - Continental Europe
Board of Directors Tenure

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

5.3
Average Tenure
55
Average Age
  • The tenure for the Catella board of directors is about average.
Board of Directors

Per Claesson

TITLE
Principal Owner & Chairman
COMPENSATION
SEK580K
AGE
67
TENURE
8.3 yrs

François Brisset

TITLE
President of Catella Asset Management and Chairman of Catella Asset Management
AGE
50

Jan Roxendal

TITLE
Independent Director
COMPENSATION
SEK482K
AGE
65
TENURE
8.3 yrs

Johan Damne

TITLE
Director
COMPENSATION
SEK330K
AGE
55
TENURE
5.3 yrs

Joachim Gahm

TITLE
Independent Director
COMPENSATION
SEK434K
AGE
54
TENURE
5 yrs

Anna Ramel

TITLE
Independent Director
COMPENSATION
SEK456K
AGE
55
TENURE
5 yrs
Who owns this company?
Recent Insider Trading
  • Catella insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (SEK) Value (SEK)
22. Mar 19 Sell Johan Nordenfalk Individual 19. Mar 19 21. Mar 19 -43,138 SEK27.60 SEK-1,183,531
27. Feb 19 Buy Jan Roxendal Individual 26. Feb 19 26. Feb 19 20,000 SEK25.04 SEK500,800
27. Dec 18 Buy Per Claesson Individual 20. Dec 18 20. Dec 18 212,593 SEK23.00 SEK4,889,639
X
Management checks
We assess Catella'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. Catella 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.

CAT B News

Simply Wall St News

Is Catella AB (publ)'s (STO:CAT B) CEO Being Overpaid?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Knut Pedersen's Compensation Compare With Similar Sized Companies. … Our data indicates that Catella AB (publ) is worth kr2.3b, and total annual CEO compensation is kr7.8m.

Simply Wall St -

CAT B Company Info

Description

Catella AB (publ), together with its subsidiaries, provides property advisory and investments, fund management, and banking services in Europe. The company operates through Corporate Finance, and Asset Management and Banking segments. It offers corporate finance, strategic, and transaction advisory services, as well as capital market-related services to real estate companies, financial institutions, property funds, and other property owners. The company also provides property investment management, property funds, and property asset management services, as well as project management services where the company identifies land and property development opportunities, and arrange project financing. In addition, it offers wealth management services, including a range of financial services and tailored solutions for high net worth individuals, as well as card and payment solutions to international banks and online merchants; and equity, hedge, and fixed income funds, as well as systematic funds. The company was formerly known as Scribona AB (publ) and changed its name to Catella AB (publ) in 2010. Catella AB (publ) was incorporated in 1961 and is headquartered in Stockholm, Sweden.

Details
Name: Catella AB (publ)
CAT B
Exchange: OM
Founded: 1961
SEK2,420,954,450
86,281,905
Website: http://www.catella.com
Address: Catella AB (publ)
Birger Jarlsgatan 6,
PO Box 5894,
Stockholm,
Stockholm County, 102 40,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM CAT B Class B Shares OMX Nordic Exchange Stockholm SE SEK 09. Dec 1992
DB SKVB Class B Shares Deutsche Boerse AG DE EUR 09. Dec 1992
BST SKVB Class B Shares Boerse-Stuttgart DE EUR 09. Dec 1992
LSE 0RL4 Class B Shares London Stock Exchange GB SEK 09. Dec 1992
OM CAT A Class A Shares OMX Nordic Exchange Stockholm SE SEK 09. Dec 1992
LSE 0RL3 Class A Shares London Stock Exchange GB SEK 09. Dec 1992
Number of employees
Current staff
Staff numbers
685
Catella employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/21 20:47
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2019/05/17
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
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.