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.

Risks

  • Attendo has significant price volatility in the past 3 months.

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


Market Performance


7 Day Return

-20.8%

OM:ATT

-4.3%

SE Healthcare

1.6%

SE Market


1 Year Return

-48.7%

OM:ATT

-8.4%

SE Healthcare

6.9%

SE Market

ATT underperformed the Healthcare industry which returned -8.4% over the past year.

ATT underperformed the Market in Sweden which returned 6.9% over the past year.


Share holder returns

ATTIndustryMarket
7 Day-20.8%-4.3%1.6%
30 Day-20.5%-1.2%4.2%
90 Day-31.9%-8.8%5.6%
1 Year-48.1%-48.7%-7.2%-8.4%11.1%6.9%
3 Year-45.1%-47.3%-21.3%-25.0%36.9%17.0%
5 Yearn/a127.6%94.5%52.1%21.9%

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

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

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

Attendo's share price is below the future cash flow value, and at a substantial discount (> 40%).


Price Based on Earnings

Attendo is overvalued based on earnings compared to the SE Healthcare industry average.

Attendo is overvalued based on earnings compared to the Sweden market.


Price Based on Expected Growth

Attendo is good value based on expected growth next year.


Price Based on Value of Assets

Attendo is good value based on assets compared to the SE Healthcare industry average.


Next Steps

Future Growth

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

25.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Attendo's revenue is expected to grow by 7.2% yearly, however this is not considered high growth (20% yearly).

Attendo's earnings are expected to grow significantly at over 20% yearly.

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

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

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


Earnings per Share Growth Estimates


Future Return on Equity

Attendo is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Attendo performed over the past 5 years?

4.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Attendo's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.

Attendo's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Attendo's 1-year earnings growth is negative, it can't be compared to the SE Healthcare industry average.


Return on Equity

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


Return on Assets

Attendo used its assets less efficiently than the SE Healthcare industry average last year based on Return on Assets.


Return on Capital Employed

Attendo's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Attendo's financial position?


Financial Position Analysis

Attendo is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

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


Debt to Equity History and Analysis

Attendo's level of debt (55.8%) 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 (215.4% vs 55.8% today).

Debt is well covered by operating cash flow (24.2%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 4x coverage).


Balance Sheet

High level of physical assets or inventory.

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?

2.08%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Attendo's pays a lower dividend yield than the bottom 25% of dividend payers in Sweden (1.85%).

Attendo's dividend is below the markets top 25% of dividend payers in Sweden (4.37%).

Attendo has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).

Dividend payments have increased, but Attendo only paid a dividend in the past 3 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (3.2x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (3.7x coverage).


Next Steps

Management

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

1.0yrs

Average management tenure


CEO

Martin Tivéus (48yo)

0.8yrs

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

Martin's remuneration is lower than average for companies of similar size in Sweden.

Insufficient data for Martin to compare compensation growth.


Management Age and Tenure

1.0yrs

Average Tenure

44.5yo

Average Age

The average tenure for the Attendo management team is less than 2 years, this suggests a new team.


Board Age and Tenure

3.1yrs

Average Tenure

63yo

Average Age

The tenure for the Attendo board of directors is about average.


Insider Trading

Attendo individual insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

Sellkr59,686,96924 May 19
Pertti Karjalainen
EntityIndividual
Role
CEO of Attendo Finland
Shares1,200,000
Max Pricekr49.91
Sellkr6,502,56123 May 19
Pertti Karjalainen
EntityIndividual
Role
CEO of Attendo Finland
Shares130,000
Max Pricekr50.02
Sellkr5,053,30022 May 19
Pertti Karjalainen
EntityIndividual
Role
CEO of Attendo Finland
Shares100,000
Max Pricekr50.53
Sellkr12,088,24821 May 19
Pertti Karjalainen
EntityIndividual
Role
CEO of Attendo Finland
Shares240,000
Max Pricekr50.37
Sellkr160,147,06515 May 19
Pertti Karjalainen
EntityIndividual
Role
CEO of Attendo Finland
Shares3,127,130
Max Pricekr54.60
Sellkr629,58413 May 19
Johan Spångö
EntityIndividual
Shares11,552
Max Pricekr54.50
Buykr497,68207 May 19
Ammy Wehlin
EntityIndividual
Shares9,000
Max Pricekr55.30
Buykr632,96007 May 19
Andreas Koch
EntityIndividual
Role
Communications & IR Director
Shares11,500
Max Pricekr55.04
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
Sellkr1,323,86922 Nov 18
Ammy Wehlin
EntityIndividual
Shares16,652
Max Pricekr79.50
Sellkr1,585,33422 Nov 18
Cecilia Addamshill
EntityIndividual
Shares20,000
Max Pricekr79.27
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
Sellkr4,207,71013 Nov 18
Ammy Wehlin
EntityIndividual
Shares50,000
Max Pricekr84.15
Buykr115,32914 Sep 18
Matias Pälve
EntityIndividual
Shares1,325.62
Max Pricekr87.00
Buykr108,00014 Sep 18
Andreas Koch
EntityIndividual
Role
Communications & IR Director
Shares1,241.38
Max Pricekr87.00
Buykr108,00013 Sep 18
Johan Spångö
EntityIndividual
Shares1,241.38
Max Pricekr87.00
Buykr325,00003 Sep 18
Andreas Koch
EntityIndividual
Role
Communications & IR Director
Shares3,898.73
Max Pricekr83.36
Sellkr7,748,76320 Aug 18
Ammy Wehlin
EntityIndividual
Shares98,997
Max Pricekr78.27
Sellkr2,724,91131 Jul 18
Cecilia Addamshill
EntityIndividual
Shares35,000
Max Pricekr77.85

Ownership Breakdown


Management Team

  • Andreas Koch (41yo)

    Communications & IR Director

    • Tenure: 3.2yrs
  • Pertti Karjalainen (49yo)

    CEO of Attendo Finland

    • Tenure: 0.4yrs
    • Compensation: SEK4.03m
  • Martin Tivéus (48yo)

    CEO & President

    • Tenure: 0.8yrs
    • Compensation: SEK13.23m
  • Fredrik Lagercrantz (41yo)

    Chief Financial Officer

    • Tenure: 1.3yrs
  • Stefan Svanström

    Head of Community Communications

  • Rebecca Birck

    Head of Corporate Control


Board Members

  • Anssi Jyrki Soila (69yo)

    Director

    • Tenure: 12.4yrs
    • Compensation: SEK410.00k
  • Anitra Steen (69yo)

    Director

    • Tenure: 3.1yrs
    • Compensation: SEK335.00k
  • Ulf Lundahl (66yo)

    Chairman of the Board

    • Tenure: 2.2yrs
    • Compensation: SEK1.03m
  • Alf Göransson (61yo)

    Director

    • Tenure: 1.2yrs
    • Compensation: SEK335.00k
  • Catarina Fagerholm (55yo)

    Director

    • Tenure: 3.1yrs
    • Compensation: SEK485.00k
  • Tobias Lönnevall (38yo)

    Director

    • Tenure: 3.1yrs
    • Compensation: SEK660.00k
  • Marco Donoso (63yo)

    Alternate Representative Director

    • Tenure: 2.4yrs

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: kr6.438b
  • Shares outstanding: 160.87m
  • Website: Click here

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
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 Analysis2019/06/24 22:10
End of Day Share Price2019/06/24 00:00
Earnings2019/03/31
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.