OM:ATT

Stock Analysis Report

Executive Summary

Attendo AB (publ) provides financed care services in Sweden, Finland, Norway, and Denmark.

Snowflake

Fundamentals

Good value with reasonable growth potential.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-1.1%

ATT

4.9%

SE Healthcare

0.004%

SE Market


1 Year Return

-41.1%

ATT

-11.1%

SE Healthcare

17.2%

SE Market

Return vs Industry: ATT underperformed the Swedish Healthcare industry which returned -11.1% over the past year.

Return vs Market: ATT underperformed the Swedish Market which returned 17.2% over the past year.


Shareholder returns

ATTIndustryMarket
7 Day-1.1%4.9%0.004%
30 Day15.7%10.7%5.6%
90 Day19.9%15.8%11.3%
1 Year-40.3%-41.1%-10.2%-11.1%22.3%17.2%
3 Year-32.4%-35.2%-22.3%-25.9%40.5%19.0%
5 Yearn/a159.2%120.9%61.3%26.7%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ATT (SEK49.92) is trading below our estimate of fair value (SEK105.62)

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


Price To Earnings Ratio

PE vs Industry: ATT is poor value based on its PE Ratio (41.4x) compared to the Healthcare industry average (26.5x).

PE vs Market: ATT is poor value based on its PE Ratio (41.4x) compared to the Swedish market (18.1x).


Price to Earnings Growth Ratio

PEG Ratio: ATT is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: ATT is good value based on its PB Ratio (1.4x) compared to the SE Healthcare industry average (1.8x).


Next Steps

Future Growth

How is Attendo forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

47.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ATT's forecast earnings growth (47% per year) is above the savings rate (0.4%).

Earnings vs Market: ATT's earnings (47% per year) are forecast to grow faster than the Swedish market (9.4% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ATT's revenue (7.8% per year) is forecast to grow faster than the Swedish market (4.3% per year).

High Growth Revenue: ATT's revenue (7.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ATT's Return on Equity is forecast to be low in 3 years time (3.1%).


Next Steps

Past Performance

How has Attendo performed over the past 5 years?

-4.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ATT has high quality earnings.

Growing Profit Margin: ATT's current net profit margins (1.7%) are lower than last year (3.3%).


Past Earnings Growth Analysis

Earnings Trend: ATT's earnings have declined by -4.3% per year over the past 5 years.

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

Earnings vs Industry: ATT had negative earnings growth (-43.9%) over the past year, making it difficult to compare to the Healthcare industry average (-24.7%).


Return on Equity

High ROE: ATT's Return on Equity (3.3%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Attendo's financial position?


Financial Position Analysis

Short Term Liabilities: ATT's short term assets (SEK2.4B) do not cover its short term liabilities (SEK2.5B)

Long Term Liabilities: ATT's short term assets (2.4B) do not cover its long term liabilities (11.4B)


Debt to Equity History and Analysis

Debt Level: ATT's debt to equity ratio (51.4%) is considered high

Reducing Debt: ATT's debt to equity ratio has reduced from 208.8% to 51.4% over the past 5 years.

Debt Coverage: ATT's debt is not well covered by operating cash flow (16.3%).

Interest Coverage: ATT's interest payments on its debt are not well covered by EBIT (2.8x coverage).


Balance Sheet

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

Debt Coverage by Assets: ATT's debt is not covered by short term assets (assets are 0.8x debt).


Next Steps

Dividend

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

1.20%

Current Dividend Yield


Dividend Yield vs Market

company1.2%marketbottom25%1.7%markettop25%4.8%industryaverage1.5%forecastin3Years0.7%

Current dividend yield vs market & industry

Notable Dividend: ATT's dividend (1.2%) isn’t notable compared to the bottom 25% of dividend payers in the Swedish market (1.73%).

High Dividend: ATT's dividend (1.2%) is low compared to the top 25% of dividend payers in the Swedish market (4.8%).


Stability and Growth of Payments

Stable Dividend: ATT has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: ATT'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 (49.7%), ATT's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ATT's dividend in 3 years as they are not forecast to pay a notable one for the Swedish market.


Next Steps

Management

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

1.4yrs

Average management tenure


CEO

Martin Tivéus (49yo)

1.2yrs

Tenure

kr13,229,000

Compensation

Mr. Martin Folke Tivéus has been the Chief Executive Officer at Attendo AB (publ) since September, 2018 and has been its President since 2018. Mr. Tivéus is Director of Telia Company AB since March 2018. H ...


CEO Compensation Analysis

Compensation vs Market: Martin's total compensation ($USD11.35K) is below average for companies of similar size in the Swedish market ($USD576.70K).

Compensation vs Earnings: Insufficient data to compare Martin's compensation with company performance.


Management Age and Tenure

1.4yrs

Average Tenure

45.5yo

Average Age

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


Board Age and Tenure

3.5yrs

Average Tenure

64yo

Average Age

Experienced Board: ATT's board of directors are considered experienced (3.5 years average tenure).


Insider Trading

Insider Buying: ATT insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Buykr411,50030 Aug 19
Ulf Lundahl
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares10,000
Max Pricekr41.15
Sellkr59,686,96924 May 19
Pertti Karjalainen
EntityIndividual
Role
Senior Key Executive
CEO of Attendo Finland
Shares1,200,000
Max Pricekr49.91
Sellkr6,502,56123 May 19
Pertti Karjalainen
EntityIndividual
Role
Senior Key Executive
CEO of Attendo Finland
Shares130,000
Max Pricekr50.02
Sellkr5,053,30022 May 19
Pertti Karjalainen
EntityIndividual
Role
Senior Key Executive
CEO of Attendo Finland
Shares100,000
Max Pricekr50.53
Sellkr12,088,24821 May 19
Pertti Karjalainen
EntityIndividual
Role
Senior Key Executive
CEO of Attendo Finland
Shares240,000
Max Pricekr50.37
Sellkr160,147,06515 May 19
Pertti Karjalainen
EntityIndividual
Role
Senior Key Executive
CEO of Attendo Finland
Shares3,127,130
Max Pricekr54.60
Sellkr629,58413 May 19
Johan Spångö
EntityIndividual
Shares11,552
Max Pricekr54.50
Buykr632,96007 May 19
Andreas Koch
EntityIndividual
Role
Head of Investor Relations
Communications & IR Director
Shares11,500
Max Pricekr55.04
Buykr497,68207 May 19
Ammy Wehlin
EntityIndividual
Shares9,000
Max Pricekr55.30
Buykr5,14930 Apr 19
Johan Spångö
EntityIndividual
Shares101.7
Max Pricekr50.63
Sellkr784,56415 Mar 19
Cecilia Addamshill
EntityIndividual
Shares13,000
Max Pricekr60.35
Buykr239,56014 Feb 19
Johan Spångö
EntityIndividual
Shares4,000
Max Pricekr59.89
Sellkr7,901,46426 Nov 18
Cecilia Addamshill
EntityIndividual
Shares100,000
Max Pricekr80.09
Sellkr1,585,33422 Nov 18
Cecilia Addamshill
EntityIndividual
Shares20,000
Max Pricekr79.27
Sellkr1,323,86922 Nov 18
Ammy Wehlin
EntityIndividual
Shares16,652
Max Pricekr79.50
Sellkr2,417,55220 Nov 18
Ammy Wehlin
EntityIndividual
Shares29,776
Max Pricekr81.19
Sellkr7,991,51816 Nov 18
Ammy Wehlin
EntityIndividual
Shares96,849
Max Pricekr83.82

Ownership Breakdown

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


Management Team

  • Andreas Koch (42yo)

    Communications & IR Director

    • Tenure: 3.6yrs
  • Pertti Karjalainen (50yo)

    CEO of Attendo Finland

    • Tenure: 0.8yrs
    • Compensation: kr4.03m
  • Martin Tivéus (49yo)

    CEO & President

    • Tenure: 1.2yrs
    • Compensation: kr13.23m
  • Fredrik Lagercrantz (42yo)

    Chief Financial Officer

    • Tenure: 1.7yrs
  • Stefan Svanström

    Head of Community Communications

    • Tenure: 0yrs
  • Rebecca Birck

    Head of Corporate Control

    • Tenure: 0yrs

Board Members

  • Anssi Jyrki Soila (70yo)

    Independent Director

    • Tenure: 12.8yrs
    • Compensation: kr410.00k
  • Anitra Steen (70yo)

    Independent Director

    • Tenure: 3.5yrs
    • Compensation: kr335.00k
  • Ulf Lundahl (67yo)

    Chairman of the Board

    • Tenure: 2.6yrs
    • Compensation: kr1.03m
  • Alf Göransson (62yo)

    Independent Director

    • Tenure: 1.6yrs
    • Compensation: kr335.00k
  • Catarina Fagerholm (56yo)

    Independent Director

    • Tenure: 3.5yrs
    • Compensation: kr485.00k
  • Tobias Lönnevall (39yo)

    Independent Director

    • Tenure: 3.5yrs
    • Compensation: kr660.00k
  • Marco Donoso (64yo)

    Alternate Representative Director

    • Tenure: 2.8yrs

Company Information

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


Key Information

  • Name: Attendo AB (publ)
  • Ticker: ATT
  • Exchange: OM
  • Founded: 1985
  • Industry: Health Care Facilities
  • Sector: Healthcare
  • Market Cap: kr8.031b
  • Shares outstanding: 160.88m
  • Website: https://www.attendo.com

Number of Employees


Location

  • Attendo AB (publ)
  • Vendevägen 85
  • Danderyd
  • Stockholm County
  • 182 91
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ATTOM (OMX Nordic Exchange Stockholm)YesClass A SharesSESEKNov 2015
7ATDB (Deutsche Boerse AG)YesClass A SharesDEEURNov 2015
ATTSBATS-CHIXE (BATS 'Chi-X Europe')YesClass A SharesGBSEKNov 2015
0RCYLSE (London Stock Exchange)YesClass A SharesGBSEKNov 2015

Biography

Attendo AB (publ) provides financed care services in Sweden, Finland, Norway, and Denmark. The company offers care services for older people in nursing homes and home care. It also provides care services f ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/11 21:45
End of Day Share Price2019/11/11 00:00
Earnings2019/09/30
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.