OM:RESURS

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Good value with reasonable growth potential and pays a dividend.

Risks

  • Resurs Holding is covered by less than 3 analysts.

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


Market Performance


7 Day Return

-2.4%

OM:RESURS

-2.7%

SE Consumer Finance

-1.2%

SE Market


1 Year Return

-22.3%

OM:RESURS

-25.7%

SE Consumer Finance

-2.6%

SE Market

RESURS outperformed the Consumer Finance industry which returned -25.7% over the past year.

RESURS underperformed the Market in Sweden which returned -2.6% over the past year.


Share holder returns

RESURSIndustryMarket
7 Day-2.4%-2.7%-1.2%
30 Day-8.8%-6.5%-4.8%
90 Day-6.3%-9.5%-1.8%
1 Year-17.6%-22.3%-22.8%-25.7%1.5%-2.6%
3 Year14.8%-3.2%-32.5%-46.0%24.4%6.0%
5 Yearn/a-13.3%-38.7%44.9%14.3%

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 based on future cash flows and its price relative to the stock market?

30%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Resurs Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).

Resurs Holding's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

Resurs Holding is good value based on earnings compared to the Europe Consumer Finance industry average.

Resurs Holding is good value based on earnings compared to the Sweden market.


Price Based on Expected Growth

Resurs Holding is good value based on expected growth next year.


Price Based on Value of Assets

Resurs Holding is overvalued based on assets compared to the Europe Consumer Finance industry average.


Next Steps

Future Growth

How is Resurs Holding expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

13.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Resurs Holding's revenue is expected to grow by 15.6% yearly, however this is not considered high growth (20% yearly).

Resurs Holding's earnings are expected to grow by 13.5% yearly, however this is not considered high growth (20% yearly).

Resurs Holding's revenue growth is expected to exceed the Sweden market average.

Resurs Holding's earnings growth is expected to exceed the Sweden market average.

Resurs Holding's earnings growth is expected to exceed the low risk savings rate of 0.4%.


Earnings per Share Growth Estimates


Future Return on Equity

Resurs Holding is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).


Next Steps

Past Performance

How has Resurs Holding performed over the past 5 years?

18.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Resurs Holding's year on year earnings growth rate has been positive over the past 5 years.

Resurs Holding's 1-year earnings growth is less than its 5-year average (6.5% vs 18.5%)

Resurs Holding's earnings growth has not exceeded the Europe Consumer Finance industry average in the past year (6.5% vs 7.2%).


Return on Equity

Resurs Holding has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Resurs Holding used its assets less efficiently than the Europe Consumer Finance industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if Resurs Holding improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

How is Resurs Holding's financial position?


Financial Position Analysis

Resurs Holding's short term (1 year) commitments are greater than its holdings of cash and other short term assets.

Resurs Holding's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Resurs Holding's level of debt (124.1%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (1.9% vs 124.1% today).

Operating cash flow is negative therefore debt is not well covered.

Unable to confirm if the interest payments on Resurs Holding's debt are well covered by earnings due to lack of past financial data.


Balance Sheet

Low level of unsold assets.

Debt is not covered by short term assets, assets are 0.8x debt.


Next Steps

Dividend

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

8.05%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Resurs Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Sweden (1.97%).

Resurs Holding's dividend is above the markets top 25% of dividend payers in Sweden (4.54%).

Whilst dividend payments have been stable, Resurs Holding has been paying a dividend for less than 10 years.

Dividend payments have increased, but Resurs Holding only paid a dividend in the past 2 years.


Current Payout to Shareholders

Dividends paid are covered by earnings (1.6x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be covered by earnings (1.8x coverage).


Next Steps

Management

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

2.3yrs

Average management tenure


CEO

Kenneth Nilsson (57yo)

7.6yrs

Tenure

kr5,866,000

Compensation

Mr. Kenneth Nilsson has been the Chief Executive Officer and President at Resurs Holding AB (publ) since 2012. Mr. Nilsson has been the Chief Executive Officer of Resurs Bank AB (publ) since September 01,  ...


CEO Compensation Analysis

Kenneth's remuneration is about average for companies of similar size in Sweden.

Kenneth's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

2.3yrs

Average Tenure

46yo

Average Age

The tenure for the Resurs Holding management team is about average.


Board Age and Tenure

6.6yrs

Average Tenure

52.5yo

Average Age

The tenure for the Resurs Holding board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

Buykr5,510,08030 May 19
Waldir AB
EntityCompany
Shares100,000
Max Pricekr55.10
Buykr8,511,65811 Dec 18
Waldir AB
EntityCompany
Shares145,187
Max Pricekr58.98
Buykr611,23110 Dec 18
Waldir AB
EntityCompany
Shares11,020
Max Pricekr55.47

Ownership Breakdown


Management Team

  • Eva Brike (51yo)

    Chief Human Resources Officer

    • Tenure: 2.3yrs
  • Peter Rosén (51yo)

    Deputy CEO

    • Tenure: 4.0yrs
  • Kenneth Nilsson (57yo)

    President & CEO

    • Tenure: 7.6yrs
    • Compensation: kr5.87m
  • Erik Frick (37yo)

    Chief Operating Officer

    • Tenure: 0.9yrs
  • Marcus Tillberg (44yo)

    MD of Solid Försäkringar

    • Tenure: 0.0yrs
  • Anette Riple (44yo)

    Chief Marketing Officer

    • Tenure: 2.4yrs
  • Anna Nauclér

    Chief Commercial Officer

    • Tenure: 1.6yrs
  • Sebastian Green (46yo)

    Chief Information Officer

    • Tenure: 1.6yrs

Board Members

  • Jan Samuelson (56yo)

    Chairman of the Board

    • Tenure: 7.6yrs
    • Compensation: kr1.52m
  • Mariana Linder (62yo)

    Director

    • Tenure: 4.6yrs
    • Compensation: kr607.00k
  • Christian Frick (43yo)

    Director

    • Tenure: 7.6yrs
    • Compensation: kr477.00k
  • Lars Nordstrand (68yo)

    Director

    • Tenure: 5.6yrs
    • Compensation: kr795.00k
  • Anders Dahlvig (62yo)

    Director

    • Tenure: 7.6yrs
    • Compensation: kr469.00k
  • Fredrik Carlsson (49yo)

    Director

    • Tenure: 7.6yrs
    • Compensation: kr651.00k
  • Marita Engström (58yo)

    Director

    • Tenure: 4.6yrs
    • Compensation: kr552.00k
  • Martin Bengtsson (49yo)

    Director

    • Tenure: 7.6yrs
    • Compensation: kr460.00k
  • Mikael Wintzell (38yo)

    Director

    • Tenure: 1.3yrs
    • Compensation: kr293.00k
  • Johanna Berlinde (49yo)

    Director

    • Tenure: 0.3yrs

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: kr10.430b
  • 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
RSRS.FOTCPK (Pink Sheets LLC)YesShare CapitalUSUSDApr 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, Denmark, Norway, and Finland. 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 Analysis2019/08/18 21:49
End of Day Share Price2019/08/16 00:00
Earnings2019/06/30
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.