OM:TRAD

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

TradeDoubler AB (publ), together with its subsidiaries, provides performance-based digital marketing services and technology solutions for publishers and advertisers worldwide. More Details


Snowflake Analysis

Adequate balance sheet and fair value.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: TRAD is not significantly more volatile than the rest of Swedish stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: TRAD's weekly volatility (6%) has been stable over the past year.


Market Performance


7 Day Return

-2.3%

TRAD

9.3%

SE Media

0.3%

SE Market


1 Year Return

16.8%

TRAD

51.3%

SE Media

16.5%

SE Market

Return vs Industry: TRAD underperformed the Swedish Media industry which returned 50.3% over the past year.

Return vs Market: TRAD matched the Swedish Market which returned 16.7% over the past year.


Shareholder returns

TRADIndustryMarket
7 Day-2.3%9.3%0.3%
30 Day6.2%11.4%4.1%
90 Day-18.7%7.6%6.8%
1 Year16.8%16.8%51.4%51.3%18.2%16.5%
3 Year-13.9%-13.9%135.2%133.0%40.6%25.4%
5 Year-50.1%-50.1%-24.4%-38.6%61.2%30.1%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is TradeDoubler 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: TRAD (SEK2.92) is trading below our estimate of fair value (SEK83.68)

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


Price To Earnings Ratio

PE vs Industry: TRAD is poor value based on its PE Ratio (91x) compared to the XE Media industry average (16.1x).

PE vs Market: TRAD is poor value based on its PE Ratio (91x) compared to the Swedish market (22.9x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate TRAD's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: TRAD is good value based on its PB Ratio (0.6x) compared to the SE Media industry average (3.6x).


Next Steps

Future Growth

How is TradeDoubler forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

32.4%

Forecasted Media industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as TradeDoubler has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has TradeDoubler performed over the past 5 years?

71.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TRAD has high quality earnings.

Growing Profit Margin: TRAD became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: TRAD has become profitable over the past 5 years, growing earnings by 71.8% per year.

Accelerating Growth: TRAD has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: TRAD has become profitable in the last year, making it difficult to compare its past year earnings growth to the Media industry (-5.7%).


Return on Equity

High ROE: TRAD's Return on Equity (0.6%) is considered low.


Next Steps

Financial Health

How is TradeDoubler's financial position?


Financial Position Analysis

Short Term Liabilities: TRAD's short term assets (SEK343.5M) do not cover its short term liabilities (SEK392.9M).

Long Term Liabilities: TRAD's short term assets (SEK343.5M) exceed its long term liabilities (SEK132.2M).


Debt to Equity History and Analysis

Debt Level: TRAD's debt to equity ratio (56.8%) is considered high.

Reducing Debt: TRAD's debt to equity ratio has reduced from 62.4% to 56.8% over the past 5 years.

Debt Coverage: TRAD's debt is well covered by operating cash flow (57.2%).

Interest Coverage: TRAD's interest payments on its debt are well covered by EBIT (5x coverage).


Balance Sheet


Next Steps

Dividend

What is TradeDoubler current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate TRAD's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate TRAD's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TRAD's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TRAD's dividend payments have been increasing.


Current Payout to Shareholders

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


Future Payout to Shareholders

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


Next Steps

Management

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

5.1yrs

Average management tenure


CEO

Matthias Stadelmeyer (44 yo)

6.17yrs

Tenure

kr3,825,000

Compensation

Mr. Matthias Stadelmeyer has been the Chief Executive Officer and President of TradeDoubler AB since September 1, 2014 and served as its President. Mr. Stadelmeyer serves on the investment panel of TD Vent...


CEO Compensation Analysis

Compensation vs Market: Matthias's total compensation ($USD446.31K) is above average for companies of similar size in the Swedish market ($USD227.10K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Matthias Stadelmeyer
CEO & President6.17yrskr3.83m0.22%
SEK 292.0k
Viktor Wågström
Chief Financial Officer4.08yrsno data0.044%
SEK 58.4k
François Pacot
Chief Technology Officer3yrsno datano data
Pia Persson
Financial Controller12.17yrsno datano data

5.1yrs

Average Tenure

40.5yo

Average Age

Experienced Management: TRAD's management team is seasoned and experienced (5.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Pascal Chevalier
Chairman5.5yrskr763.00kno data
Nils Helge Carlsson
Independent Director4.75yrskr180.00kno data
Gautier Normand
Director5.5yrskr763.00kno data
Jérémy Parola
Director4.75yrskr180.00kno data
Erik Siekmann
Independent Director4.75yrskr180.00kno data

4.8yrs

Average Tenure

49yo

Average Age

Experienced Board: TRAD's board of directors are considered experienced (4.8 years average tenure).


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.


Ownership Breakdown

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


Top Shareholders

Company Information

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


Key Information

  • Name: TradeDoubler AB (publ)
  • Ticker: TRAD
  • Exchange: OM
  • Founded: 1999
  • Industry: Advertising
  • Sector: Media
  • Market Cap: kr131.799m
  • Shares outstanding: 45.14m
  • Website: https://www.tradedoubler.com

Number of Employees


Location

  • TradeDoubler AB (publ)
  • Birger Jarlsgatan 57A
  • Stockholm
  • Stockholm County
  • 113 56
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TRADOM (OMX Nordic Exchange Stockholm)YesCommon SharesSESEKNov 2005
0GTULSE (London Stock Exchange)YesCommon SharesGBSEKNov 2005
TRADSBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBSEKNov 2005

Biography

TradeDoubler AB (publ), together with its subsidiaries, provides performance-based digital marketing services and technology solutions for publishers and advertisers worldwide. It offers affiliate marketin...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/24 21:19
End of Day Share Price2020/11/24 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.