OM:RESURS

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Executive Summary

Resurs Holding AB (publ), through its subsidiaries, provides payment solutions, consumer loans, and insurance products in Sweden, Norway, Finland, and Denmark. More Details


Snowflake Analysis

Undervalued with adequate balance sheet and pays a dividend.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-11.6%

RESURS

-4.2%

SE Consumer Finance

-6.1%

SE Market


1 Year Return

-28.2%

RESURS

-24.2%

SE Consumer Finance

6.9%

SE Market

Return vs Industry: RESURS underperformed the Swedish Consumer Finance industry which returned -24.2% over the past year.

Return vs Market: RESURS underperformed the Swedish Market which returned 6.9% over the past year.


Shareholder returns

RESURSIndustryMarket
7 Day-11.6%-4.2%-6.1%
30 Day-12.3%-3.0%-6.6%
90 Day-6.8%4.0%1.6%
1 Year-28.2%-28.2%-23.0%-24.2%8.9%6.9%
3 Year-20.6%-29.8%-34.7%-42.3%22.5%9.3%
5 Yearn/a-49.1%-62.6%46.4%17.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

46.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: RESURS (SEK40.78) is trading below our estimate of fair value (SEK76.39)

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


Price To Earnings Ratio

PE vs Industry: RESURS is good value based on its PE Ratio (7.9x) compared to the XE Consumer Finance industry average (10.1x).

PE vs Market: RESURS is good value based on its PE Ratio (7.9x) compared to the Swedish market (20.7x).


Price to Earnings Growth Ratio

PEG Ratio: RESURS is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: RESURS is overvalued based on its PB Ratio (1x) compared to the XE Consumer Finance industry average (0.8x).


Next Steps

Future Growth

How is Resurs Holding forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

12.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: RESURS's forecast earnings growth (12.3% per year) is above the savings rate (0.5%).

Earnings vs Market: RESURS's earnings (12.3% per year) are forecast to grow faster than the Swedish market (12% per year).

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

Revenue vs Market: RESURS's revenue (10.4% per year) is forecast to grow faster than the Swedish market (3% per year).

High Growth Revenue: RESURS's revenue (10.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: RESURS's Return on Equity is forecast to be low in 3 years time (15.9%).


Next Steps

Past Performance

How has Resurs Holding performed over the past 5 years?

10.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: RESURS has a high level of non-cash earnings.

Growing Profit Margin: RESURS's current net profit margins (36.5%) are lower than last year (40.1%).


Past Earnings Growth Analysis

Earnings Trend: RESURS's earnings have grown by 10.8% per year over the past 5 years.

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

Earnings vs Industry: RESURS had negative earnings growth (-15.2%) over the past year, making it difficult to compare to the Consumer Finance industry average (-1.9%).


Return on Equity

High ROE: RESURS's Return on Equity (13.4%) is considered low.


Next Steps

Financial Health

How is Resurs Holding's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: RESURS's Assets to Equity ratio (5.4x) is low.

Allowance for Bad Loans: RESURS has a low allowance for bad loans (55%).

Low Risk Liabilities: 73% of RESURS's liabilities are made up of primarily low risk sources of funding.

Loan Level: RESURS has an appropriate level of Loans to Assets ratio (74%).

Low Risk Deposits: RESURS's Loans to Deposits ratio (124%) is appropriate.

Level of Bad Loans: RESURS has a high level of bad loans (16.8%).


Next Steps

Dividend

What is Resurs Holding current dividend yield, its reliability and sustainability?

9.56%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: RESURS's dividend (9.56%) is higher than the bottom 25% of dividend payers in the Swedish market (1.35%).

High Dividend: RESURS's dividend (9.56%) is in the top 25% of dividend payers in the Swedish market (4.43%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, RESURS has been paying a dividend for less than 10 years.

Growing Dividend: RESURS's dividend payments have increased, but the company has only paid a dividend for 4 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (40.9%), RESURS's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: RESURS's dividends in 3 years are forecast to be covered by earnings (64.9% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.4yrs

Average management tenure


CEO

Nils Helge Carlsson (51 yo)

0.33

Tenure

Mr. Nils Helge George Carlsson serves as the Chief Executive Officer & serves as President of Resurs Bank AB (publ) since June 1, 2020. He serves as the Chief Executive Officer at Resurs Holding AB (publ) ...


Leadership Team

NamePositionTenureCompensationOwnership
Nils Helge Carlsson
President & CEO0.33yrno datano data
Jonas Olin
CFO, Deputy CEO & Head of Investor Relations0.50yrno datano data
Erik Frick
Chief Operating Officer2.08yrsno data0.038%
SEK 3.1m
Sebastian Green
Chief Information Officer2.75yrsno datano data
Anette Riple
Chief Marketing Officer3.58yrsno datano data
Eva Brike
Chief Human Resources Officer3.5yrsno datano data
Marcus Tillberg
MD of Solid Försäkringarno datano datano data
Anna Nauclér
Chief Commercial Officer2.75yrsno datano data
Stefan Noderen
Chief Credit & NPL Officerno datano datano data
Johan Floden
Chief Commercial Officer- Consumer Loans0.083yrno datano data
Anita Tidner
Interim Chief Customer Service Officer0.083yrno datano data
Andreas Fridell
Chief Commercial Officer of Nordic B2B0.75yrno datano data

1.4yrs

Average Tenure

47yo

Average Age

Experienced Management: RESURS's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Lars Nordstrand
Independent Director8.75yrskr723.00k0.033%
SEK 2.7m
Fredrik Carlsson
Independent Director8.75yrskr465.00k0.0077%
SEK 631.3k
Marita Engström
Independent Director5.75yrskr594.00k0.012%
SEK 954.3k
Martin Bengtsson
Chairman1yrkr710.00kno data
Mikael Wintzell
Independent Director2.5yrskr440.00kno data
Susanne Ehnbåge
Independent Director0.33yrno datano data
Johanna Berlinde
Independent Director1.5yrskr293.00kno data
Kristina Patek
Independent Director0.33yrno datano data

2.0yrs

Average Tenure

50yo

Average Age

Experienced Board: RESURS's board of directors are not considered experienced ( 2 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

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


Key Information

  • Name: Resurs Holding AB (publ)
  • Ticker: RESURS
  • Exchange: OM
  • Founded: 1977
  • Industry: Consumer Finance
  • Sector: Diversified Financials
  • Market Cap: kr8.156b
  • Shares outstanding: 200.00m
  • Website: https://www.resursholding.se

Number of Employees


Location

  • Resurs Holding AB (publ)
  • Ekslingan 9
  • Väla North
  • Helsingborg
  • Skåne County
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
RESURSOM (OMX Nordic Exchange Stockholm)YesShare CapitalSESEKApr 2016
4R6DB (Deutsche Boerse AG)YesShare CapitalDEEURApr 2016
0RFPLSE (London Stock Exchange)YesShare CapitalGBSEKApr 2016
RESURSBATS-CHIXE (BATS 'Chi-X Europe')YesShare CapitalGBSEKApr 2016

Biography

Resurs Holding AB (publ), through its subsidiaries, provides payment solutions, consumer loans, and insurance products in Sweden, Norway, Finland, and Denmark. The company’s payment solutions comprises ret ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/29 22:38
End of Day Share Price2020/10/29 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.