OM:BOUL

Stock Analysis Report

Boule Diagnostics

Executive Summary

Boule Diagnostics AB (publ), a diagnostics company, develops, manufactures, and markets instruments and consumable products for blood diagnostics.

Snowflake

Fundamentals

Excellent balance sheet with reasonable growth potential.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

5.7%

BOUL

5.5%

SE Medical Equipment

2.1%

SE Market


1 Year Return

-28.8%

BOUL

33.9%

SE Medical Equipment

12.1%

SE Market

Return vs Industry: BOUL underperformed the Swedish Medical Equipment industry which returned 33.9% over the past year.

Return vs Market: BOUL underperformed the Swedish Market which returned 12.1% over the past year.


Shareholder returns

BOULIndustryMarket
7 Day5.7%5.5%2.1%
30 Day17.2%1.8%1.6%
90 Day-1.8%2.6%3.8%
1 Year-28.2%-28.8%35.4%33.9%16.8%12.1%
3 Year28.0%25.5%54.9%36.6%32.3%12.4%
5 Year352.5%337.5%72.9%44.6%62.9%28.4%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

37.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: BOUL (SEK50.2) is trading below our estimate of fair value (SEK80.83)

Significantly Undervalued: BOUL is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: BOUL is poor value based on its PE Ratio (45.9x) compared to the Medical Equipment industry average (44x).

PE vs Market: BOUL is poor value based on its PE Ratio (45.9x) compared to the Swedish market (16.9x).


Price to Earnings Growth Ratio

Low PEG Ratio: BOUL is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: BOUL is good value based on its PB Ratio (3.2x) compared to the SE Medical Equipment industry average (4.4x).


Next Steps

Future Growth

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

40.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BOUL's forecast earnings growth (40% per year) is above the savings rate (0.4%).

Earnings vs Market: BOUL's earnings (40% per year) are forecast to grow faster than the Swedish market (9.3% per year).

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

Revenue vs Market: BOUL's revenue (7.5% per year) is forecast to grow faster than the Swedish market (4.5% per year).

High Growth Revenue: BOUL's revenue (7.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: BOUL's Return on Equity is forecast to be low in 3 years time (17.1%).


Next Steps

Past Performance

How has Boule Diagnostics performed over the past 5 years?

25.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: BOUL has become profitable over the past 5 years, growing earnings by 25.5% per year.

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

Earnings vs Industry: BOUL had negative earnings growth (-64.4%) over the past year, making it difficult to compare to the Medical Equipment industry average (17.3%).


Return on Equity

High ROE: BOUL's Return on Equity (7%) is considered low.


Return on Assets

ROA vs Industry: BOUL has a higher Return on Assets than the Medical Equipment industry average last year.


Return on Capital Employed

ROCE Improving: BOUL's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Boule Diagnostics's financial position?


Financial Position Analysis

Short Term Liabilities: BOUL's short term assets (SEK220.4M) exceeds its short term liabilities (SEK178.9M)

Long Term Liabilities: BOUL's short term assets (220.4M) exceeds its long term liabilities (72.1M)


Debt to Equity History and Analysis

Debt Level: BOUL's debt to equity ratio (31%) is considered satisfactory

Reducing Debt: BOUL's debt to equity ratio has reduced from 31.2% to 31% over the past 5 years.

Debt Coverage: BOUL's debt is not well covered by operating cash flow (17.3%).

Interest Coverage: BOUL's interest payments on its debt are well covered by EBIT (14x coverage).


Balance Sheet

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

Debt Coverage by Assets: BOUL's debt is covered by short term assets (assets are 2.339700x debt).


Next Steps

Dividend

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

1.10%

Current Dividend Yield


Dividend Yield vs Market

company1.1%marketbottom25%1.8%markettop25%4.6%industryaverage1.1%forecastin3Years1.9%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: BOUL's dividend (1.1%) isn’t notable compared to the bottom 25% of dividend payers in the Swedish market (1.81%).

High Dividend: BOUL's dividend (1.1%) is low compared to the top 25% of dividend payers in the Swedish market (4.65%).

Stable Dividend: BOUL is not paying a notable dividend for the Swedish market, therefore no need to check if payments are stable.

Growing Dividend: BOUL is not paying a notable dividend for the Swedish market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: BOUL is not paying a notable dividend for the Swedish market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of BOUL'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 Boule Diagnostics's salary, the management and board of directors tenure and is there insider trading?

2.5yrs

Average management tenure


CEO

Fredrik Dalborg (47yo)

2.5yrs

Tenure

kr3,674,000

Compensation

Mr. Fredrik Dalborg has been Chief Executive Officer and Group President at Boule Diagnostics AB (publ) since April 01, 2017. Mr. Dalborg served as a Director of Investor Relations and Corporate Finance of ...


CEO Compensation Analysis

Compensation vs. Market: Fredrik's total compensation ($USD379.67K) is about average for companies of similar size in the Swedish market ($USD124.17K).

Compensation vs Earnings: Fredrik's compensation has been consistent with company performance over the past year.


Management Age and Tenure

2.5yrs

Average Tenure

Experienced Management: BOUL's management team is considered experienced (2.5 years average tenure).


Board Age and Tenure

3.8yrs

Average Tenure

58yo

Average Age

Experienced Board: BOUL's board of directors are considered experienced (3.8 years average tenure).


Insider Trading

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


Recent Insider Transactions

Buykr35,16028 Sep 19
Christina Rubenhag
EntityIndividual
Role
Chief Financial Officer
Senior VP & CFO
Shares800
Max Pricekr43.95
Buykr101,55021 Aug 19
Christina Rubenhag
EntityIndividual
Role
Chief Financial Officer
Senior VP & CFO
Shares2,500
Max Pricekr40.62
Buykr666,08620 Aug 19
Thomas Eklund
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares17,203
Max Pricekr38.76
Buykr113,10016 Aug 19
Karin Dahllöf
EntityIndividual
Role
Member of the Board of Directors
Director
Shares2,900
Max Pricekr39.00
Buykr200,10025 Jun 19
Karin Dahllöf
EntityIndividual
Role
Member of the Board of Directors
Director
Shares3,750
Max Pricekr53.36
Buykr7,950,00020 Jun 19
Thomas Eklund
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares150,000
Max Pricekr53.00
Buykr836,50909 Feb 19
Peter von Ehrenheim
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares14,230
Max Pricekr60.23
Buykr122,00008 Feb 19
Fredrik Dalborg
EntityIndividual
Role
Chief Executive Officer
CEO & Group President
Shares2,000
Max Pricekr61.00

Ownership Breakdown


Management Team

  • Fredrik Dalborg (47yo)

    CEO & Group President

    • Tenure: 2.5yrs
    • Compensation: kr3.67m
  • Hans Johansson

    Senior Vice President of Production

    • Tenure: 0yrs
  • Christina Rubenhag

    Senior VP & CFO

    • Tenure: 2yrs
  • Karen Bornstein

    Head of Marketing

    • Tenure: 15.8yrs
  • Mike Eliott

    Head of Development - Reagents & Consumables

    • Tenure: 27.8yrs
  • Christina Hugosson (56yo)

    Head of Development - Instruments & Systems

    • Tenure: 12.8yrs
  • Debbie Herrera

    Senior Vice President of Quality & Regulatory

    • Tenure: 2.8yrs
  • Fredrik Ekdahl

    Senior Vice President of R&D

    • Tenure: 2.3yrs
  • Kiarash Farr

    Senior Vice President of Commercial Operations

    • Tenure: 1.6yrs
  • Eva Ekermann

    Human Resources Director

    • Tenure: 1.8yrs

Board Members

  • Jon Risfelt (58yo)

    Independent Director

    • Tenure: 3.8yrs
    • Compensation: kr225.00k
  • Peter von Ehrenheim (64yo)

    Chairman of the Board

    • Tenure: 3.8yrs
    • Compensation: kr450.00k
  • Thomas Eklund (52yo)

    Independent Director

    • Tenure: 5.8yrs
    • Compensation: kr225.00k
  • Charlotta Falvin (53yo)

    Independent Director

    • Tenure: 1.8yrs
  • Karin Dahllöf (60yo)

    Director

    • Tenure: 4.8yrs
    • Compensation: kr225.00k

Company Information

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


Key Information

  • Name: Boule Diagnostics AB (publ)
  • Ticker: BOUL
  • Exchange: OM
  • Founded: 1956
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: kr974.711m
  • Shares outstanding: 19.42m
  • Website: https://www.boule.com

Number of Employees


Location

  • Boule Diagnostics AB (publ)
  • Domnarvsgatan 4
  • Spånga
  • Stockholm County
  • 163 53
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BOULOM (OMX Nordic Exchange Stockholm)YesCommon SharesSESEKJun 2011
BDAB.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDJun 2011
BOULSBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBSEKJun 2011
8BDBST (Boerse-Stuttgart)YesCommon SharesDEEURJun 2011

Biography

Boule Diagnostics AB (publ), a diagnostics company, develops, manufactures, and markets instruments and consumable products for blood diagnostics. It provides hematology analyzers, reagents, blood controls ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 20:32
End of Day Share Price2019/10/18 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.