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Vitec Software Group

OM:VIT B
Snowflake Description

Acceptable track record with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VIT B
OM
SEK4B
Market Cap
  1. Home
  2. SE
  3. Software
Company description

Vitec Software Group AB (publ), a software company, provides vertical market software in the Nordic and Baltic countries, the rest of Europe, and the Middle East. The last earnings update was 74 days ago. More info.


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VIT B Share Price and Events
7 Day Returns
-2.5%
OM:VIT B
-1.7%
SE Software
1.6%
SE Market
1 Year Returns
32.2%
OM:VIT B
17%
SE Software
6.9%
SE Market
VIT B Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Vitec Software Group (VIT B) -2.5% 6.9% 28.9% 32.2% 79.8% 425%
SE Software -1.7% 4.4% 12.9% 17% 75.9% 134.8%
SE Market 1.6% 4.7% 5.1% 6.9% 17% 21.9%
1 Year Return vs Industry and Market
  • VIT B outperformed the Software industry which returned 17% over the past year.
  • VIT B outperformed the Market in Sweden which returned 6.9% over the past year.
Price Volatility
VIT B
Industry
5yr Volatility vs Market

VIT B Value

 Is Vitec Software Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Vitec Software Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Vitec Software Group.

OM:VIT B Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.2%
Perpetual Growth Rate 10-Year SE Government Bond Rate 0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OM:VIT B
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SE Govt Bond Rate 0.4%
Equity Risk Premium S&P Global 6%
Software Unlevered Beta Simply Wall St/ S&P Global 1.14
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.139 (1 + (1- 22%) (7.77%))
1.139
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.14
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.43% + (1.139 * 5.96%)
7.22%

Discounted Cash Flow Calculation for OM:VIT B using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Vitec Software Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

OM:VIT B DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SEK, Millions) Source Present Value
Discounted (@ 7.22%)
2019 197.00 Analyst x1 183.73
2020 152.00 Analyst x1 132.21
2021 158.00 Analyst x1 128.16
2022 162.49 Est @ 2.84% 122.93
2023 165.93 Est @ 2.12% 117.07
2024 168.61 Est @ 1.61% 110.95
2025 170.74 Est @ 1.26% 104.77
2026 172.47 Est @ 1.01% 98.70
2027 173.91 Est @ 0.84% 92.83
2028 175.16 Est @ 0.72% 87.19
Present value of next 10 years cash flows SEK1,178.54
OM:VIT B DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SEK175.16 × (1 + 0.43%) ÷ (7.22% – 0.43%)
SEK2,590.62
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SEK2,590.62 ÷ (1 + 7.22%)10
SEK1,289.57
OM:VIT B Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SEK1,178.54 + SEK1,289.57
SEK2,468.11
Equity Value per Share
(SEK)
= Total value / Shares Outstanding
= SEK2,468.11 / 32.34
SEK76.32
OM:VIT B Discount to Share Price
Calculation Result
Value per share (SEK) From above. SEK76.32
Current discount Discount to share price of SEK115.50
= -1 x (SEK115.50 - SEK76.32) / SEK76.32
-51.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Vitec Software Group is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Vitec Software Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Vitec Software Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OM:VIT B PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in SEK SEK3.35
OM:VIT B Share Price ** OM (2019-06-20) in SEK SEK115.5
Sweden Software Industry PE Ratio Median Figure of 8 Publicly-Listed Software Companies 35.37x
Sweden Market PE Ratio Median Figure of 327 Publicly-Listed Companies 16.93x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Vitec Software Group.

OM:VIT B PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OM:VIT B Share Price ÷ EPS (both in SEK)

= 115.5 ÷ 3.35

34.45x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Vitec Software Group is good value based on earnings compared to the SE Software industry average.
  • Vitec Software Group is overvalued based on earnings compared to the Sweden market.
Price based on expected Growth
Does Vitec Software Group's expected growth come at a high price?
Raw Data
OM:VIT B PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 34.45x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
10.4%per year
Sweden Software Industry PEG Ratio Median Figure of 7 Publicly-Listed Software Companies 2.14x
Sweden Market PEG Ratio Median Figure of 235 Publicly-Listed Companies 1.37x

*Line of best fit is calculated by linear regression .

OM:VIT B PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 34.45x ÷ 10.4%

3.33x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Vitec Software Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Vitec Software Group's assets?
Raw Data
OM:VIT B PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in SEK SEK22.01
OM:VIT B Share Price * OM (2019-06-20) in SEK SEK115.5
Sweden Software Industry PB Ratio Median Figure of 25 Publicly-Listed Software Companies 5.25x
Sweden Market PB Ratio Median Figure of 569 Publicly-Listed Companies 2.51x
OM:VIT B PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OM:VIT B Share Price ÷ Book Value per Share (both in SEK)

= 115.5 ÷ 22.01

5.25x

* Primary Listing of Vitec Software Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Vitec Software Group is good value based on assets compared to the SE Software industry average.
X
Value checks
We assess Vitec Software Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Software industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Software industry average (and greater than 0)? (1 check)
  5. Vitec Software Group has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

VIT B Future Performance

 How is Vitec Software Group expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
10.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Vitec Software Group expected to grow at an attractive rate?
  • Vitec Software Group's earnings growth is expected to exceed the low risk savings rate of 0.4%.
Growth vs Market Checks
  • Vitec Software Group's earnings growth is expected to exceed the Sweden market average.
  • Vitec Software Group's revenue growth is positive but not above the Sweden market average.
Annual Growth Rates Comparison
Raw Data
OM:VIT B Future Growth Rates Data Sources
Data Point Source Value (per year)
OM:VIT B Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 10.4%
OM:VIT B Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 1%
Sweden Software Industry Earnings Growth Rate Market Cap Weighted Average 22.4%
Sweden Software Industry Revenue Growth Rate Market Cap Weighted Average 12.1%
Sweden Market Earnings Growth Rate Market Cap Weighted Average 8.5%
Sweden Market Revenue Growth Rate Market Cap Weighted Average 4.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OM:VIT B Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OM:VIT B Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,227 306 141 1
2020-12-31 1,189 299 132 1
2019-12-31 1,160 365 124 1
OM:VIT B Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2019-03-31 1,205 267 103
2018-12-31 1,144 197 97
2018-09-30 1,096 178 93
2018-06-30 1,045 173 75
2018-03-31 989 202 80
2017-12-31 952 188 79
2017-09-30 895 193 75
2017-06-30 835 187 77
2017-03-31 798 173 72
2016-12-31 758 158 67
2016-09-30 728 158 71
2016-06-30 711 147 76

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Vitec Software Group's earnings are expected to grow by 10.4% yearly, however this is not considered high growth (20% yearly).
  • Vitec Software Group's revenue is expected to grow by 1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OM:VIT B Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Vitec Software Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:VIT B Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 4.55 4.55 4.55 1.00
2020-12-31 4.25 4.25 4.25 1.00
2019-12-31 3.99 3.99 3.99 1.00
OM:VIT B Past Financials Data
Date (Data in SEK Millions) EPS *
2019-03-31 3.35
2018-12-31 3.22
2018-09-30 3.11
2018-06-30 2.55
2018-03-31 2.72
2017-12-31 2.70
2017-09-30 2.55
2017-06-30 2.63
2017-03-31 2.43
2016-12-31 2.27
2016-09-30 2.41
2016-06-30 2.59

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Vitec Software Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Vitec Software Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Sweden market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Sweden market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Vitec Software Group has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

VIT B Past Performance

  How has Vitec Software Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Vitec Software Group's growth in the last year to its industry (Software).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Vitec Software Group's year on year earnings growth rate has been positive over the past 5 years.
  • Vitec Software Group's 1-year earnings growth exceeds its 5-year average (27.9% vs 15.4%)
  • Vitec Software Group's earnings growth has exceeded the SE Software industry average in the past year (27.9% vs 8.7%).
Earnings and Revenue History
Vitec Software Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Vitec Software Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:VIT B Past Revenue, Cash Flow and Net Income Data
Date (Data in SEK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,204.83 102.88 151.75
2018-12-31 1,144.31 96.92 152.56
2018-09-30 1,095.71 92.61 142.28
2018-06-30 1,045.30 75.49 137.87
2018-03-31 989.34 80.46 132.36
2017-12-31 952.24 79.43 124.76
2017-09-30 894.73 74.93 119.97
2017-06-30 835.46 77.44 111.46
2017-03-31 798.02 71.55 104.04
2016-12-31 757.68 66.81 97.68
2016-09-30 727.72 70.98 92.77
2016-06-30 711.43 76.04 91.42
2016-03-31 698.52 74.99 89.54
2015-12-31 683.92 78.19 88.21
2015-09-30 654.52 71.83 77.34
2015-06-30 630.97 64.45 74.11
2015-03-31 588.50 57.93 72.69
2014-12-31 538.22 49.07 68.04
2014-09-30 475.27 37.45 59.05
2014-06-30 425.08 36.40 55.10
2014-03-31 403.26 32.59 50.69
2013-12-31 395.70 30.23 53.16
2013-09-30 430.35 29.50 63.46
2013-06-30 427.39 28.49 63.83
2013-03-31 417.07 29.67 64.61
2012-12-31 406.56 31.18 63.00
2012-09-30 365.93 29.07 59.72
2012-06-30 356.62 27.33 60.62

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Vitec Software Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Vitec Software Group used its assets less efficiently than the SE Software industry average last year based on Return on Assets.
  • Vitec Software Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Vitec Software Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Software industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Vitec Software Group has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

VIT B Health

 How is Vitec Software Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Vitec Software Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Vitec Software Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Vitec Software Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Vitec Software Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Vitec Software Group Company Filings, last reported 2 months ago.

OM:VIT B Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 711.76 290.15 129.36
2018-12-31 669.63 509.25 235.30
2018-09-30 455.41 515.70 61.01
2018-06-30 432.85 522.80 65.90
2018-03-31 438.44 368.40 60.39
2017-12-31 398.16 406.10 57.97
2017-09-30 354.63 400.19 40.51
2017-06-30 341.32 302.59 49.02
2017-03-31 351.09 354.66 130.45
2016-12-31 334.21 383.52 80.92
2016-09-30 316.75 344.41 86.47
2016-06-30 291.25 230.40 60.12
2016-03-31 291.43 251.81 125.81
2015-12-31 271.54 241.07 60.27
2015-09-30 256.71 234.52 55.42
2015-06-30 243.46 178.70 60.16
2015-03-31 250.34 191.27 85.81
2014-12-31 260.13 189.55 71.11
2014-09-30 239.78 193.92 51.89
2014-06-30 225.07 203.49 70.00
2014-03-31 179.98 93.05 74.01
2013-12-31 169.61 81.31 21.32
2013-09-30 163.49 57.36 30.39
2013-06-30 164.77 56.72 49.63
2013-03-31 162.62 69.62 88.84
2012-12-31 152.45 106.03 68.29
2012-09-30 153.22 95.88 56.33
2012-06-30 142.55 44.22 49.96
  • Vitec Software Group's level of debt (40.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (52.2% vs 40.8% today).
  • Debt is well covered by operating cash flow (91.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 12.1x coverage).
X
Financial health checks
We assess Vitec Software Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Vitec Software Group has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

VIT B Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.04%
Current annual income from Vitec Software Group dividends. Estimated to be 1.15% next year.
If you bought SEK2,000 of Vitec Software Group shares you are expected to receive SEK21 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Vitec Software Group's pays a lower dividend yield than the bottom 25% of dividend payers in Sweden (1.85%).
  • Vitec Software Group's dividend is below the markets top 25% of dividend payers in Sweden (4.37%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OM:VIT B Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Sweden Software Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 1.7%
Sweden Market Average Dividend Yield Market Cap Weighted Average of 244 Stocks 3.1%
Sweden Minimum Threshold Dividend Yield 10th Percentile 1.1%
Sweden Bottom 25% Dividend Yield 25th Percentile 1.9%
Sweden Top 25% Dividend Yield 75th Percentile 4.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OM:VIT B Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.40 1.00
2020-12-31 1.40 1.00
2019-12-31 1.20 1.00
OM:VIT B Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2019-03-04 1.200 1.211
2018-03-19 1.100 1.349
2017-03-15 1.000 1.258
2016-05-12 0.900 1.314
2015-04-15 0.670 1.166
2015-02-18 0.670 1.789
2014-04-16 0.550 2.171
2014-02-20 0.550 3.061
2013-04-11 0.500 3.016
2013-02-22 0.500 2.870
2012-02-17 0.400 2.912
2012-02-16 0.400 3.200
2011-03-30 0.250 2.193
2011-02-25 0.250 2.713
2010-04-22 0.200 2.110
2010-02-24 0.200 2.332

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Vitec Software Group is not paying a notable dividend for Sweden, therefore no need to check if the payments are stable.
  • Vitec Software Group is not paying a notable dividend for Sweden, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Vitec Software Group's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Vitec Software Group's dividends as it is not paying a notable one for Sweden.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.1x coverage).
X
Income/ dividend checks
We assess Vitec Software Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Vitec Software Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Vitec Software Group has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

VIT B Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Lars Stenlund
COMPENSATION SEK3,471,000
AGE 60
TENURE AS CEO 29.4 years
CEO Bio

Mr. Lars Stenlund, Ph.D. served as Director of Railcare Group AB (publ) until 2019. He is the Founder of Vitec Software Group AB and has been its Chief Executive Officer since 1990. Mr. Stenlund serves Chairman of AC Invest AB. He serves as a Director of Ackra Invest AB. He has been a Director of 3L AB System since 2010. He serves as a Board member of Handelskammarens Service C län AB and Racerjump AB. He serves as a Director of the University of Umeå, Algoryx Simulation AB and C4 Contexture AB. He served as a Director of Vitec Software Group AB since 1985 until 2009. He served as a Director of Creative Antibiotics Sweden AB (Formerly Innate Pharmaceuticals AB). Mr. Stenlund holds a Ph.D. in Applied Physics from Umeå University in 1987.

CEO Compensation
  • Lars's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Lars's remuneration is lower than average for companies of similar size in Sweden.
Management Team

Lars Stenlund

TITLE
Founder & CEO
COMPENSATION
SEK3M
AGE
60
TENURE
29.4 yrs

Olle Backman

TITLE
Chief Financial Officer
AGE
49

Patrik Fransson

TITLE
Vice CEO
AGE
52

Jerker Vallbo

TITLE
CIO & CTO

Johnny Kölfors

TITLE
Managing Director of Vitec Veriba AB

Lars Eriksson

TITLE
Vice CEO and VP of M&A and Business Development
AGE
63

Niklas Berg

TITLE
Managing Director

Magnus Persson

TITLE
Head of Vitec Business Area Real Estate
TENURE
3.3 yrs

Janne Vainio

TITLE
Chief Executive Officer of Vitec Health

Kjell Hedström

TITLE
Controller
Board of Directors Tenure

Average tenure and age of the Vitec Software Group board of directors in years:

8.4
Average Tenure
66
Average Age
  • The tenure for the Vitec Software Group board of directors is about average.
Board of Directors

Crister Stjernfelt

TITLE
Chairman of the Board
COMPENSATION
SEK270K
AGE
75
TENURE
6.4 yrs

Kaj Sandart

TITLE
Director
COMPENSATION
SEK135K
AGE
65
TENURE
21.4 yrs

Jan Friedman

TITLE
Director
COMPENSATION
SEK135K
AGE
66
TENURE
9.4 yrs

Birgitta Johansson-Hedberg

TITLE
Director
COMPENSATION
SEK135K
AGE
71
TENURE
8.4 yrs

Anna Valtonen

TITLE
Director
COMPENSATION
SEK135K
AGE
44
TENURE
7.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (SEK) Value (SEK)
X
Management checks
We assess Vitec Software Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Vitec Software Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

VIT B News

Simply Wall St News

Do You Like Vitec Software Group AB (publ) (STO:VIT B) At This P/E Ratio?

We'll look at Vitec Software Group AB (publ)'s (STO:VIT B) P/E ratio and reflect on what it tells us about the company's share price. … The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Vitec Software Group: P/E of 35.04 = SEK117.5 ÷ SEK3.35 (Based on the year to March 2019.) Is A High Price-to-Earnings Ratio Good? … Most would be impressed by Vitec Software Group earnings growth of 23% in the last year.

Simply Wall St -

How Much is Vitec Software Group AB (publ)'s (STO:VIT B) CEO Getting Paid?

Check out our latest analysis for Vitec Software Group How Does Lars Stenlund's Compensation Compare With Similar Sized Companies? … According to our data, Vitec Software Group AB (publ) has a market capitalization of kr3.7b, and pays its CEO total annual compensation worth kr3.1m. … It looks like Vitec Software Group AB (publ) pays its CEO less than similar sized companies.

Simply Wall St -

Vitec Software Group AB (publ) (STO:VIT B): Has Recent Earnings Growth Beaten Long-Term Trend?

Analyzing Vitec Software Group AB (publ)'s (STO:VIT B) track record of past performance is a valuable exercise for investors. … See our latest analysis for Vitec Software Group Were VIT B's earnings stronger than its past performances and the industry? … You should continue to research Vitec Software Group to get a more holistic view of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for VIT B’s future growth?

Simply Wall St -

Should You Be Adding Vitec Software Group (STO:VIT B) To Your Watchlist Today?

So it is good to see that Vitec Software Group insiders have a significant amount of capital invested in the stock. … The fact that EPS is growing is a genuine positive for Vitec Software Group, but the pretty picture gets better than that. … So if you like to buy cheap, you may want to check if Vitec Software Group is trading on a high P/E or a low P/E, relative to its industry.

Simply Wall St -

Examining Vitec Software Group AB (publ)’s (STO:VIT B) Weak Return On Capital Employed

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Return On Capital Employed (ROCE): What is it? … Analysts use this formula to calculate return on capital employed:

Simply Wall St -

How Many Vitec Software Group AB (publ) (STO:VIT B) Shares Have Insiders Sold, In The Last Year?

So before you buy or sell Vitec Software Group AB (publ) (STO:VIT B), you may well want to know whether insiders have been buying or selling. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … The Last 12 Months Of Insider Transactions At Vitec Software Group

Simply Wall St -

Does The Hype Around Vitec Software Group AB (publ)'s (STO:VIT B) Growth Justify Its April Share Price?

Growth expectations for Vitec Software Group AB (publ) (STO:VIT B) are high, but many investors are starting to ask whether its last close at SEK96.8 can still be rationalized by the future potential. … View our latest analysis for Vitec Software Group? … Analysts are predicting good growth prospects for Vitec Software Group over the next couple of years

Simply Wall St -

If You Had Bought Vitec Software Group (STO:VIT B) Shares Five Years Ago You'd Have Made 437%

And highest quality companies can see their share prices grow by huge amounts. … Over half a decade, Vitec Software Group managed to grow its earnings per share at 23% a year. … This EPS growth is slower than the share price growth of 40% per year, over the same period.

Simply Wall St -

How Financially Strong Is Vitec Software Group AB (publ) (STO:VIT B)?

Vitec Software Group AB (publ) (STO:VIT B) is a small-cap stock with a market capitalization of kr3.0b. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Evaluating financial health as part of your investment thesis is.

Simply Wall St -

What Should You Know About Vitec Software Group AB (publ)'s (STO:VIT B) Earnings Trend?

The latest earnings release Vitec Software Group AB (publ)'s (STO:VIT B) announced in December 2018a

Simply Wall St -

VIT B Company Info

Description

Vitec Software Group AB (publ), a software company, provides vertical market software in the Nordic and Baltic countries, the rest of Europe, and the Middle East. It operates in Auto, Energy, Real Estate, Finance & Insurance, Environment, Estate Agents, and Education & Health segments. The Auto segment offers software for the automotive and machinery sectors. This segment’s products support work processes, including vehicle sales, vehicle service centers, tire storage, and distribution of auto components. The Energy segment develops forecasting systems for electricity traders, and calculation and mapping systems for owners of electricity and district-heating grids. The Real Estate segment offers a cloud-based software for project and business support; and enterprise systems for the construction and real estate sectors covering leasing, sales, customer service, accounting, technical property management, and energy-consumption monitoring. The Finance & Insurance segment develops software for banks, financial institutions, and insurance companies. The Environment segment develops products software for private and municipal waste-and-resource processing for various applications comprising weighing of waste and driving schedules, invoicing, accounting, and reporting. The Estate Agents segment develops software to support estate agents. The Education & Health segment develops software for churching operations; enterprise system for managing the pharmacy workflow; and software for municipal leisure and cultural departments, and individuals with reading and writing difficulties, as well as public and private education companies. It also provides software for healthcare companies, which are wholly Web-based enterprise systems used by district healthcare centers, hospitals, physiotherapy, and rehabilitation facilities, as well as occupational health services and public organizations. The company was founded in 1985 and is headquartered in Umeå, Sweden.

Details
Name: Vitec Software Group AB (publ)
VIT B
Exchange: OM
Founded: 1985
SEK3,735,142,950
32,338,900
Website: http://www.vitecsoftware.com
Address: Vitec Software Group AB (publ)
Tvistevägen 47A,
Umeå,
Västerbotten County, 907 29,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM VIT B Class B Shares OMX Nordic Exchange Stockholm SE SEK 28. Jun 1999
LSE 0RDI Class B Shares London Stock Exchange GB SEK 28. Jun 1999
Number of employees
Current staff
Staff numbers
650
Vitec Software Group employees.
Industry
Application Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/23 20:47
End of day share price update: 2019/06/20 00:00
Last estimates confirmation: 2019/04/10
Last earnings filing: 2019/04/10
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.