OM:DUST

Stock Analysis Report

Executive Summary

Dustin Group AB (publ) offers online IT products and services in Sweden, Denmark, Finland, Norway, and the Netherlands.

Snowflake

Fundamentals

Mediocre balance sheet second-rate dividend payer.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-3.1%

DUST

-0.2%

SE Online Retail

1.9%

SE Market


1 Year Return

-6.4%

DUST

-0.5%

SE Online Retail

9.6%

SE Market

Return vs Industry: DUST underperformed the Swedish Online Retail industry which returned -0.5% over the past year.

Return vs Market: DUST underperformed the Swedish Market which returned 9.6% over the past year.


Shareholder returns

DUSTIndustryMarket
7 Day-3.1%-0.2%1.9%
30 Day0.6%1.6%-0.3%
90 Day-5.0%4.4%0.7%
1 Year-0.1%-6.4%2.0%-0.5%14.3%9.6%
3 Year39.7%21.7%14.6%4.7%31.5%11.9%
5 Yearn/a121.0%112.4%66.2%30.8%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

18.32x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: DUST (SEK75.45) is trading above our estimate of fair value (SEK57.89)

Significantly Undervalued: DUST is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: DUST is poor value based on its PE Ratio (18.3x) compared to the Online Retail industry average (17x).

PE vs Market: DUST is poor value based on its PE Ratio (18.3x) compared to the Swedish market (16.7x).


Price to Earnings Growth Ratio

Low PEG Ratio: DUST is poor value based on its PEG Ratio (1.8x)


Price to Book Ratio

PB vs Industry: DUST is overvalued based on its PB Ratio (2.7x) compared to the SE Online Retail industry average (2.2x).


Next Steps

Future Growth

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

10.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DUST's forecast earnings growth (10% per year) is above the savings rate (0.4%).

Earnings vs Market: DUST's earnings (10% per year) are forecast to grow faster than the Swedish market (8.9% per year).

High Growth Earnings: DUST's earnings are forecast to grow, but not significantly.

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

High Growth Revenue: DUST's revenue (4.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: DUST's Return on Equity is forecast to be low in 3 years time (17.5%).


Next Steps

Past Performance

How has Dustin Group performed over the past 5 years?

19.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: DUST's earnings have grown by 19.7% per year over the past 5 years.

Accelerating Growth: DUST's earnings growth over the past year (16.7%) is below its 5-year average (19.7% per year).

Earnings vs Industry: DUST earnings growth over the past year (16.7%) exceeded the Online Retail industry 12.6%.


Return on Equity

High ROE: DUST's Return on Equity (14.5%) is considered low.


Return on Assets

ROA vs Industry: DUST's Return on Assets is below or equal to the Online Retail industry average last year.


Return on Capital Employed

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


Next Steps

Financial Health

How is Dustin Group's financial position?


Financial Position Analysis

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

Long Term Liabilities: DUST's short term assets (2.5B) exceeds its long term liabilities (2.3B)


Debt to Equity History and Analysis

Debt Level: DUST's debt to equity ratio (92.5%) is considered high

Reducing Debt: DUST's debt to equity ratio has reduced from 181.1% to 92.5% over the past 5 years.

Debt Coverage: DUST's debt is not well covered by operating cash flow (11.6%).

Interest Coverage: DUST's interest payments on its debt are well covered by EBIT (13.1x coverage).


Balance Sheet

Inventory Level: DUST has a low level of unsold assets or inventory.

Debt Coverage by Assets: DUST's debt is covered by short term assets (assets are 1.108530x debt).


Next Steps

Dividend

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

3.98%

Current Dividend Yield


Dividend Yield vs Market

company4.0%marketbottom25%1.8%markettop25%4.8%industryaverage3.4%forecastin3Years4.8%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: DUST's dividend (3.98%) is higher than the bottom 25% of dividend payers in the Swedish market (1.79%).

High Dividend: DUST's dividend (3.98%) is low compared to the top 25% of dividend payers in the Swedish market (4.78%).

Stable Dividend: Whilst dividend payments have been stable, DUST has been paying a dividend for less than 10 years.

Growing Dividend: DUST's dividend payments have increased, but the company has only paid a dividend for 4 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (72.8%), DUST's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: DUST's dividends in 3 years are forecast to be covered by earnings (63.2% payout ratio).


Next Steps

Management

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

3.1yrs

Average management tenure


CEO

Thomas Ekman (50yo)

1.8yrs

Tenure

kr10,250,000

Compensation

Mr. Thomas Ekman served as Chief Executive Officer of Ixat Intressenter AB (publ) from 2016 to 2017. Mr. Ekman is President and Chief Executive Officer of Dustin AB since 2018. He is Chief Executive Office ...


CEO Compensation Analysis

Compensation vs. Market: Thomas has recently become CEO, making it difficult to compare their total compensation against companies of similar size in the Swedish market.

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


Management Age and Tenure

3.1yrs

Average Tenure

44yo

Average Age

Experienced Management: DUST's management team is considered experienced (3.1 years average tenure).


Board Age and Tenure

3.8yrs

Average Tenure

54yo

Average Age

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


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Buykr7,143,22106 Nov 18
Axel Johnson Holding AB
EntityCompany
Shares95,000
Max Pricekr75.19
Sellkr92,29805 Nov 18
Tomas Franzén
EntityIndividual
Role
Member of the Board of Directors
Director
Shares57,686
Max Pricekr1.60
Buykr4,388,90705 Nov 18
Axel Johnson Holding AB
EntityCompany
Shares59,412
Max Pricekr73.87

Ownership Breakdown


Management Team

  • Bo Lundevall

    Founder & Co-Owner

    • Tenure: 35.8yrs
  • Johan Karlsson (54yo)

    CFO & VP Finance & Business Support

    • Tenure: 10.8yrs
  • Thomas Ekman (50yo)

    President

    • Tenure: 1.8yrs
    • Compensation: kr10.25m
  • Sara Edlund

    Head of Legal

    • Tenure: 0yrs
  • Eva Ernfors

    Head of Information

    • Tenure: 0yrs
  • Morten Nielsen (44yo)

    Vice President of Group People Development

    • Tenure: 3.1yrs
  • Mikael Svensson

    Head of Reporting &Internal Control

    • Tenure: 0yrs
  • Johansson Sätterström

    Head of Investor Relations

    • Tenure: 3.4yrs
  • Jenny Ring (41yo)

    Vice President of Operations

    • Tenure: 2.5yrs
  • Stephanie Forsblom (36yo)

    Head of Corporate Responsibility & Acting VP of Group Communication

    • Tenure: 1.6yrs

Board Members

  • Tomas Franzén (57yo)

    Director

    • Tenure: 6.8yrs
    • Compensation: kr330.00k
  • Mia Livfors (54yo)

    Chairman

    • Tenure: 1.8yrs
    • Compensation: kr660.00k
  • Gunnel Duveblad (64yo)

    Director

    • Tenure: 3.8yrs
    • Compensation: kr350.00k
  • Mattias Miksche (51yo)

    Director

    • Tenure: 13.8yrs
    • Compensation: kr300.00k
  • Caroline Berg (51yo)

    Director

    • Tenure: 2.8yrs
    • Compensation: kr330.00k
  • Morten Strand (54yo)

    Director

    • Tenure: 1.8yrs
    • Compensation: kr350.00k
  • Johan Fant (60yo)

    Director

    • Tenure: 3.8yrs
    • Compensation: kr400.00k

Company Information

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


Key Information

  • Name: Dustin Group AB (publ)
  • Ticker: DUST
  • Exchange: OM
  • Founded: 1984
  • Industry: Internet and Direct Marketing Retail
  • Sector: Retail
  • Market Cap: kr6.688b
  • Shares outstanding: 88.65m
  • Website: https://www.dustingroup.com

Number of Employees


Location

  • Dustin Group AB (publ)
  • Augustendalsvägen 7
  • Nacka Strand
  • Stockholm County
  • 131 27
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DUSTOM (OMX Nordic Exchange Stockholm)YesOrdinary SharesSESEKFeb 2015
DUSTsBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBSEKFeb 2015
9DGDB (Deutsche Boerse AG)YesOrdinary SharesDEEURFeb 2015
0R5WLSE (London Stock Exchange)YesOrdinary SharesGBSEKFeb 2015

Biography

Dustin Group AB (publ) offers online IT products and services in Sweden, Denmark, Finland, Norway, and the Netherlands. It operates through three segments: Small and Medium-sized Businesses, Large Corporat ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 21:51
End of Day Share Price2019/10/14 00:00
Earnings2019/08/31
Annual Earnings2019/08/31


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.