Fenix Outdoor International (OM:FOI B) - Share price, News & Analysis

FOI B fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	2/6
Past Performance	4/6
Financial Health	6/6
Dividends	3/6

FOI B Stock Overview

Rewards

Trading at 62.8% below our estimate of its fair value

Earnings are forecast to grow 16.38% per year

Earnings grew by 53.5% over the past year

Risk Analysis

Unstable dividend track record

Fenix Outdoor International Competitors

Snow Peak

TSE:7816

JP¥89.3b

Price History & Performance

Summary of all time highs, changes and price drops for Fenix Outdoor International
Historical stock prices
Current Share Price	kr900.00
52 Week High	kr1,602.00
52 Week Low	kr830.00
Beta	1.2
1 Month Change	-11.42%
3 Month Change	-18.03%
1 Year Change	-27.65%
3 Year Change	-0.33%
5 Year Change	-8.82%
Change since IPO	151.40%

Recent News & Updates

Apr 28

Fenix Outdoor International's (STO:FOI B) Upcoming Dividend Will Be Larger Than Last Year's

Fenix Outdoor International AG ( STO:FOI B ) has announced that it will be increasing its dividend on the 4th of May to...

Shareholder Returns

	FOI B	SE Specialty Retail	SE Market
7D	0.6%	-6.9%	-1.0%
1Y	-27.7%	-39.3%	-13.1%

Return vs Industry: FOI B exceeded the Swedish Specialty Retail industry which returned -39.3% over the past year.

Return vs Market: FOI B underperformed the Swedish Market which returned -13.1% over the past year.

Price Volatility

Is FOI B's price volatile compared to industry and market?
FOI B volatility
FOI B Average Weekly Movement	6.2%
Specialty Retail Industry Average Movement	6.2%
Market Average Movement	7.6%
10% most volatile stocks in SE Market	12.9%
10% least volatile stocks in SE Market	4.9%

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

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

About the Company

Founded	Employees	CEO	Website
1960	2,446	Martin Nordin	https://www.fenixoutdoor.se

Fenix Outdoor International AG, together with its subsidiaries, develops, manufactures, and sells outdoor products primarily in Switzerland, Sweden, other Nordic countries, Germany, Benelux, other European countries, the Americas, and internationally. The company operates through three segments: Brands, Global Sales, and Frilufts. It offers apparel, daypacks, backpacks, sleeping bags, tents, stoves, bags, outdoor shoes and boots, lanterns, fuel, and accessories.

Fenix Outdoor International Fundamentals Summary

How do Fenix Outdoor International's earnings and revenue compare to its market cap?
FOI B fundamental statistics
Market Cap	€1.14b
Earnings (TTM)	€59.41m
Revenue (TTM)	€688.37m

19.2x

P/E Ratio

1.7x

P/S Ratio

Is FOI B overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
FOI B income statement (TTM)
Revenue	€688.37m
Cost of Revenue	€289.42m
Gross Profit	€398.95m
Other Expenses	€339.54m
Earnings	€59.41m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Jul 21, 2022

Earnings per share (EPS)	4.45
Gross Margin	57.96%
Net Profit Margin	8.63%
Debt/Equity Ratio	8.6%

How did FOI B perform over the long term?

See historical performance and comparison

Dividends

2.2%

Current Dividend Yield

44%

Payout Ratio

Valuation

Is Fenix Outdoor International undervalued compared to its fair value and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: FOI B (SEK900) is trading below our estimate of fair value (SEK2417.08)

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

Price To Earnings Ratio

PE vs Industry: FOI B is poor value based on its Price-To-Earnings Ratio (19.2x) compared to the Swedish Specialty Retail industry average (16.1x).

PE vs Market: FOI B is poor value based on its Price-To-Earnings Ratio (19.2x) compared to the Swedish market (16.9x).

Price to Earnings Growth Ratio

PEG Ratio: FOI B is poor value based on its PEG Ratio (1.2x)

Price to Book Ratio

PB vs Industry: FOI B is overvalued based on its Price-To-Book Ratio (2.9x) compared to the SE Specialty Retail industry average (2.8x).

Future Growth

How is Fenix Outdoor International forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

2/6

Future Growth Score 2/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

16.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: FOI B's forecast earnings growth (16.4% per year) is above the savings rate (0.3%).

Earnings vs Market: FOI B's earnings (16.4% per year) are forecast to grow faster than the Swedish market (9.5% per year).

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

Revenue vs Market: FOI B's revenue (4.2% per year) is forecast to grow slower than the Swedish market (5.8% per year).

High Growth Revenue: FOI B's revenue (4.2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: FOI B's Return on Equity is forecast to be low in 3 years time (19%).

Past Performance

How has Fenix Outdoor International performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-7.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FOI B has high quality earnings.

Growing Profit Margin: FOI B's current net profit margins (8.6%) are higher than last year (6.9%).

Past Earnings Growth Analysis

Earnings Trend: FOI B's earnings have declined by 7.3% per year over the past 5 years.

Accelerating Growth: FOI B's earnings growth over the past year (53.5%) exceeds its 5-year average (-7.3% per year).

Earnings vs Industry: FOI B earnings growth over the past year (53.5%) exceeded the Specialty Retail industry 35.7%.

Return on Equity

High ROE: FOI B's Return on Equity (15.2%) is considered low.

Financial Health

How is Fenix Outdoor International's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: FOI B's short term assets (€393.7M) exceed its short term liabilities (€127.3M).

Long Term Liabilities: FOI B's short term assets (€393.7M) exceed its long term liabilities (€134.2M).

Debt to Equity History and Analysis

Debt Level: FOI B has more cash than its total debt.

Reducing Debt: FOI B's debt to equity ratio has reduced from 26.6% to 8.6% over the past 5 years.

Debt Coverage: FOI B's debt is well covered by operating cash flow (330%).

Interest Coverage: FOI B's interest payments on its debt are well covered by EBIT (22.7x coverage).

Balance Sheet

Dividend

What is Fenix Outdoor International current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

2.20%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: FOI B's dividend (2.2%) is higher than the bottom 25% of dividend payers in the Swedish market (1.44%).

High Dividend: FOI B's dividend (2.2%) is low compared to the top 25% of dividend payers in the Swedish market (4.89%).

Stability and Growth of Payments

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

Growing Dividend: FOI B's dividend payments have increased, but the company has only paid a dividend for 7 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (43.8%), FOI B's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (28.1%), FOI B's dividend payments are well covered by cash flows.

Discover strong dividend paying companies

Management

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

4.1yrs

Average management tenure

CEO

Martin Nordin (59 yo)

20.33yrs

Tenure

€769,000

Compensation

Mr. Martin Nordin serves as the Managing Director at HANWAG GmbH. Mr. Nordin has served as Executive Chairman since April 2018 and CEO of Fenix Outdoor AB since 2002. He serves as Executive Chairman & Dire...

CEO Compensation Analysis

Compensation vs Market: Martin's total compensation ($USD821.14K) is about average for companies of similar size in the Swedish market ($USD876.80K).

Compensation vs Earnings: Martin's compensation has increased by more than 20% in the past year.

Leadership Team

Experienced Management: FOI B's management team is considered experienced (4.1 years average tenure).

Board Members

Experienced Board: FOI B's board of directors are considered experienced (7.3 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.

Data	Last Updated (UTC time)
Company Analysis	2022/05/25 00:00
End of Day Share Price	2022/05/25 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31