OM:DUST

Stock Analysis Report

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Executive Summary

Dustin Group AB (publ) offers online IT products and services in the Nordic region and the Netherlands. More Details


Snowflake Analysis

Undervalued with reasonable growth potential.

Share Price & News

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


Latest Share Price and Events

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

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


Market Performance


7 Day Return

5.6%

DUST

1.4%

SE Online Retail

0.8%

SE Market


1 Year Return

0.7%

DUST

100.5%

SE Online Retail

17.1%

SE Market

Return vs Industry: DUST underperformed the Swedish Online Retail industry which returned 96.3% over the past year.

Return vs Market: DUST underperformed the Swedish Market which returned 15.2% over the past year.


Shareholder returns

DUSTIndustryMarket
7 Day5.6%1.4%0.8%
30 Day16.3%4.9%6.5%
90 Day18.5%16.7%11.2%
1 Year4.2%0.7%112.8%100.5%20.2%17.1%
3 Year8.4%-5.5%42.2%14.0%49.8%32.0%
5 Year47.5%19.5%147.8%128.1%90.7%50.3%

Long-Term 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?

26.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: DUST (SEK75) is trading below our estimate of fair value (SEK101.78)

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


Price To Earnings Ratio

PE vs Industry: DUST is good value based on its PE Ratio (23.6x) compared to the XE Online Retail industry average (38.9x).

PE vs Market: DUST's PE Ratio (23.6x) is in line with the Swedish market.


Price to Earnings Growth Ratio

PEG Ratio: DUST is good value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: DUST is good value based on its PB Ratio (2.6x) compared to the SE Online Retail industry average (5.8x).


Next Steps

Future Growth

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

24.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DUST's forecast earnings growth (24.1% per year) is above the savings rate (0.4%).

Earnings vs Market: DUST's earnings (24.1% per year) are forecast to grow faster than the Swedish market (11.8% per year).

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

Revenue vs Market: DUST's revenue (5.1% per year) is forecast to grow faster than the Swedish market (3.4% per year).

High Growth Revenue: DUST's revenue (5.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: DUST's Return on Equity is forecast to be low in 3 years time (17.2%).


Next Steps

Past Performance

How has Dustin Group performed over the past 5 years?

10.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DUST has high quality earnings.

Growing Profit Margin: DUST's current net profit margins (2.1%) are lower than last year (2.6%).


Past Earnings Growth Analysis

Earnings Trend: DUST's earnings have grown by 10% per year over the past 5 years.

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

Earnings vs Industry: DUST had negative earnings growth (-14.9%) over the past year, making it difficult to compare to the Online Retail industry average (45.5%).


Return on Equity

High ROE: DUST's Return on Equity (11.1%) is considered low.


Next Steps

Financial Health

How is Dustin Group's financial position?


Financial Position Analysis

Short Term Liabilities: DUST's short term assets (SEK3.4B) exceed its short term liabilities (SEK3.1B).

Long Term Liabilities: DUST's short term assets (SEK3.4B) exceed its long term liabilities (SEK2.8B).


Debt to Equity History and Analysis

Debt Level: DUST's debt to equity ratio (83.9%) is considered high.

Reducing Debt: DUST's debt to equity ratio has increased from 67.3% to 83.9% over the past 5 years.

Debt Coverage: DUST's debt is well covered by operating cash flow (42.6%).

Interest Coverage: DUST's interest payments on its debt are well covered by EBIT (7.8x coverage).


Balance Sheet


Next Steps

Dividend

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

2.93%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: DUST's dividend (2.93%) is higher than the bottom 25% of dividend payers in the Swedish market (0.94%).

High Dividend: DUST's dividend (2.93%) is low compared to the top 25% of dividend payers in the Swedish market (3.42%).


Stability and Growth of Payments

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

Growing Dividend: DUST's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (69.2%), 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 (62.3% payout ratio).


Next Steps

Management

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

3.0yrs

Average management tenure


CEO

Thomas Ekman (51 yo)

3yrs

Tenure

kr9,100,000

Compensation

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


CEO Compensation Analysis

Compensation vs Market: Thomas's total compensation ($USD1.10M) is above average for companies of similar size in the Swedish market ($USD742.59K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Thomas Ekman
President & CEO3yrskr9.10m0.046%
SEK 3.0m
Johan Karlsson
CFO & Executive VP of Business Support12yrsno data0.37%
SEK 24.4m
Fredrik Sätterström
Head of Investor Relations4.67yrsno datano data
Sara Edlund
Head of Legalno datano datano data
Eva Ernfors
Head of Communicationsno datano datano data
Stephanie Forsblom
Executive Vice President of Marketing & Communication0.42yrno datano data
Martin Lindecrantz
Executive Vice President of Human Resources0.42yrno datano data
Michael Haagen Petersen
Executive Vice President of Large Corporate & Public Nordic4.58yrsno data0.20%
SEK 13.5m
Morten Nielsen
Executive Vice President of Netherlands0.42yrno data0.011%
SEK 751.0k
Mikael Svensson
Head of Reporting & Internal Controlno datano datano data
Rebecca Tallmark
Executive Vice President of SMB Nordicno datano data0.073%
SEK 4.8m
Jenny Ring
Executive Vice President of Supply Chainno datano data0.0070%
SEK 464.7k

3.0yrs

Average Tenure

44.5yo

Average Age

Experienced Management: DUST's management team is considered experienced (3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Tomas Franzén
Director8yrskr345.00k0%
SEK 0
Maria Livfors
Chairman3.08yrskr680.00kno data
Gunnel Duveblad
Independent Director5yrskr375.00k0%
SEK 0
Mattias Miksche
Independent Director15yrskr315.00k0%
SEK 0
Gregor Bieler
Director0.083yrno datano data
Stina Andersson
Director0.083yrno datano data
Morten Strand
Independent Director3.08yrskr375.00kno data
Johan Fant
Director5yrskr425.00kno data

4.0yrs

Average Tenure

55yo

Average Age

Experienced Board: DUST's board of directors are considered experienced (4 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.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

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: kr6.657b
  • Shares outstanding: 88.65m
  • Website: https://www.dustingroup.com

Number of Employees


Location

  • Dustin Group AB (publ)
  • AugustendalsvAegen 7
  • Nacka
  • 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
DUSX.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDFeb 2015

Biography

Dustin Group AB (publ) offers online IT products and services in the Nordic region and the Netherlands. It operates through three segments: Small and Medium-sized Businesses, Large Corporate and Public Sec...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/21 19:19
End of Day Share Price2021/01/21 00:00
Earnings2020/11/30
Annual Earnings2020/08/31


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.