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Doro

OM:DORO
Snowflake Description

Very undervalued with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DORO
OM
SEK854M
Market Cap
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Last updated 2019/05/20 21:01
Company description

Doro AB (publ) develops telecom products and services for seniors. The last earnings update was 17 days ago. More info.

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DORO Share Price and Events
7 Day Returns
-4.5%
OM:DORO
-0.5%
Europe Tech
0.8%
SE Market
1 Year Returns
-13.9%
OM:DORO
-11.4%
Europe Tech
-0.6%
SE Market
DORO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Doro (DORO) -4.5% -3.4% -3.9% -13.9% -44% 6.4%
Europe Tech -0.5% -6.2% 0.8% -11.4% 49.5% 32.3%
SE Market 0.8% -2.3% 2.2% -0.6% 14.3% 18.2%
1 Year Return vs Industry and Market
  • DORO underperformed the Tech industry which returned -11.4% over the past year.
  • DORO underperformed the Market in Sweden which returned -0.6% over the past year.
Price Volatility
DORO
Industry
5yr Volatility vs Market

DORO Value

 Is Doro 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 Doro 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 Doro.

OM:DORO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.8%
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:DORO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SE Govt Bond Rate 0.4%
Equity Risk Premium S&P Global 6%
Tech Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.038 (1 + (1- 22%) (37.89%)) 		1.231
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)		 1.23
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.43% + (1.231 * 5.96%) 		7.77%

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

The calculations below outline how an intrinsic value for Doro 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:DORO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SEK, Millions) Source Present Value
Discounted (@ 7.77%)
2019 69.00 Analyst x2 64.02
2020 114.00 Analyst x2 98.15
2021 120.50 Analyst x2 96.27
2022 123.96 Est @ 2.87% 91.89
2023 126.62 Est @ 2.14% 87.10
2024 128.68 Est @ 1.63% 82.13
2025 130.32 Est @ 1.27% 77.18
2026 131.65 Est @ 1.02% 72.34
2027 132.76 Est @ 0.84% 67.70
2028 133.72 Est @ 0.72% 63.27
Present value of next 10 years cash flows SEK800.05
OM:DORO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SEK133.72 × (1 + 0.43%) ÷ (7.77% – 0.43%) 		SEK1,830.53
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SEK1,830.53 ÷ (1 + 7.77%)10 		SEK866.08
OM:DORO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SEK800.05 + SEK866.08 		SEK1,666.13
Equity Value per Share
(SEK)		 = Total value / Shares Outstanding
= SEK1,666.13 / 23.77 		SEK70.11
OM:DORO Discount to Share Price
Calculation Result
Value per share (SEK) From above. SEK70.11
Current discount Discount to share price of SEK35.95
= -1 x (SEK35.95 - SEK70.11) / SEK70.11 		48.7%

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

Current Discount
Amount off the current price Doro is available for.
Intrinsic value
49%
Share price is SEK35.95 vs Future cash flow value of SEK70.11
Current Discount Checks
For Doro to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Doro's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Doro's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Doro's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Doro's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OM:DORO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in SEK SEK3.73
OM:DORO Share Price ** OM (2019-05-20) in SEK SEK35.95
Europe Tech Industry PE Ratio Median Figure of 21 Publicly-Listed Tech Companies 18.01x
Sweden Market PE Ratio Median Figure of 323 Publicly-Listed Companies 16.89x

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

** Primary Listing of Doro.

OM:DORO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 35.95 ÷ 3.73

 9.63x

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

  • Doro is good value based on earnings compared to the Europe Tech industry average.
  • Doro is good value based on earnings compared to the Sweden market.
Price based on expected Growth
Does Doro's expected growth come at a high price?
Raw Data
OM:DORO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.63x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts		 11.4%per year
Europe Tech Industry PEG Ratio Median Figure of 11 Publicly-Listed Tech Companies 0.82x
Sweden Market PEG Ratio Median Figure of 235 Publicly-Listed Companies 1.36x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.63x ÷ 11.4%

 0.84x

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

  • Doro is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Doro's assets?
Raw Data
OM:DORO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in SEK SEK30.22
OM:DORO Share Price * OM (2019-05-20) in SEK SEK35.95
Europe Tech Industry PB Ratio Median Figure of 29 Publicly-Listed Tech Companies 1.29x
Sweden Market PB Ratio Median Figure of 568 Publicly-Listed Companies 2.49x
OM:DORO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 35.95 ÷ 30.22

 1.19x

* Primary Listing of Doro.

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

  • Doro is good value based on assets compared to the Europe Tech industry average.
Show me more potentially undervalued companies in the Tech industry
X
Value checks
We assess Doro'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 Tech 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 Tech industry average (and greater than 0)? (1 check)
    5. Doro has a total score of 6/6, 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.

DORO Future Performance

 How is Doro expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

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
11.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Doro expected to grow at an attractive rate?
  • Doro's earnings growth is expected to exceed the low risk savings rate of 0.4%.
Growth vs Market Checks
  • Doro's earnings growth is expected to exceed the Sweden market average.
  • Doro's revenue growth is positive but not above the Sweden market average.
Annual Growth Rates Comparison
Raw Data
OM:DORO Future Growth Rates Data Sources
Data Point Source Value (per year)
OM:DORO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 11.4%
OM:DORO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 1%
Europe Tech Industry Earnings Growth Rate Market Cap Weighted Average 16.9%
Europe Tech Industry Revenue Growth Rate Market Cap Weighted Average 8%
Sweden Market Earnings Growth Rate Market Cap Weighted Average 8.6%
Sweden Market Revenue Growth Rate Market Cap Weighted Average 4.6%

*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:DORO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OM:DORO Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 2,040 1
2021-12-31 2,040 205 109 3
2020-12-31 2,015 197 99 3
2019-12-31 2,003 193 82 3
OM:DORO Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2019-03-31 1,953 208 88
2018-12-31 1,906 222 92
2018-09-30 1,933 197 88
2018-06-30 1,890 165 78
2018-03-31 1,891 132 72
2017-12-31 1,924 120 67
2017-09-30 1,967 131 55
2017-06-30 1,976 143 52
2017-03-31 2,010 136 38
2016-12-31 1,974 62 31
2016-09-30 1,996 44 62
2016-06-30 1,968 40 71

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Doro's earnings are expected to grow by 11.4% yearly, however this is not considered high growth (20% yearly).
  • Doro'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:DORO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Doro Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:DORO Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 4.52 4.96 4.07 3.00
2020-12-31 4.17 4.62 3.61 3.00
2019-12-31 3.43 3.92 2.75 3.00
OM:DORO Past Financials Data
Date (Data in SEK Millions) EPS *
2019-03-31 3.73
2018-12-31 3.86
2018-09-30 3.73
2018-06-30 3.26
2018-03-31 3.05
2017-12-31 2.83
2017-09-30 2.37
2017-06-30 2.25
2017-03-31 1.64
2016-12-31 1.33
2016-09-30 2.67
2016-06-30 3.07

*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.
  • Doro is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Doro'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Doro 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.

DORO Past Performance

  How has Doro 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 Doro's growth in the last year to its industry (Tech).
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.
  • Doro's year on year earnings growth rate has been positive over the past 5 years.
  • Doro's 1-year earnings growth exceeds its 5-year average (22.5% vs 10.2%)
  • Doro's earnings growth has not exceeded the Europe Tech industry average in the past year (22.5% vs 23%).
Earnings and Revenue History
Doro'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 Doro Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:DORO 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 1,953.00 88.30 416.60 107.70
2018-12-31 1,906.40 91.50 412.70 104.80
2018-09-30 1,932.80 88.40 637.30 0.70
2018-06-30 1,889.60 77.60 628.60 -1.60
2018-03-31 1,891.30 72.10 396.10 99.80
2017-12-31 1,924.00 66.50 394.00 103.00
2017-09-30 1,967.00 55.40 917.70 74.80
2017-06-30 1,975.90 52.30 825.40 50.90
2017-03-31 2,009.90 38.20 728.60 26.20
2016-12-31 1,973.70 31.00 636.00
2016-09-30 1,995.90 62.00 520.10
2016-06-30 1,968.20 71.40 520.10
2016-03-31 1,914.00 91.30 520.10
2015-12-31 1,838.00 63.80 520.10
2015-09-30 1,648.10 43.80 397.90
2015-06-30 1,533.60 46.20 397.90
2015-03-31 1,383.00 34.50 397.90
2014-12-31 1,274.80 58.20 397.90
2014-09-30 1,212.30 62.00 318.90
2014-06-30 1,159.70 52.60 318.90
2014-03-31 1,157.50 55.20 318.90
2013-12-31 1,134.50 60.60 318.90
2013-09-30 1,045.10 53.10 246.10
2013-06-30 976.50 63.70 246.10
2013-03-31 860.00 57.80 246.10
2012-12-31 821.50 52.90 246.10
2012-09-30 793.60 53.40 234.30
2012-06-30 764.70 53.50 234.30

*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.
  • Doro has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Doro used its assets less efficiently than the Europe Tech industry average last year based on Return on Assets.
  • Doro's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Doro'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 Tech 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.
Doro has a total score of 2/6, 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.

DORO Health

 How is Doro'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 Doro's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Doro is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Doro's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Doro'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.5x 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 Doro Company Filings, last reported 1 month ago.

OM:DORO Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 718.10 323.70 150.80
2018-12-31 683.70 240.00 134.20
2018-09-30 665.90 281.70 98.80
2018-06-30 643.00 284.70 90.70
2018-03-31 601.70 62.80 28.90
2017-12-31 583.70 162.40 57.10
2017-09-30 557.00 164.80 64.40
2017-06-30 540.80 164.70 57.80
2017-03-31 530.90 149.80 35.70
2016-12-31 520.00 234.50 61.00
2016-09-30 511.20 192.00 22.90
2016-06-30 496.00 239.40 33.70
2016-03-31 485.80 218.40 50.60
2015-12-31 482.00 194.60 43.90
2015-09-30 448.90 0.00 42.60
2015-06-30 420.70 0.00 54.10
2015-03-31 408.50 0.00 52.20
2014-12-31 334.80 41.70 78.20
2014-09-30 315.90 0.00 96.40
2014-06-30 288.20 0.00 89.10
2014-03-31 292.20 0.00 70.20
2013-12-31 287.00 45.20 123.90
2013-09-30 258.20 0.00 67.80
2013-06-30 203.40 0.00 111.20
2013-03-31 217.10 0.00 145.30
2012-12-31 209.00 1.60 141.10
2012-09-30 190.20 0.00 114.00
2012-06-30 166.00 2.00 107.10
  • Doro's level of debt (45.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 45.1% today).
  • Debt is well covered by operating cash flow (64.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 21.5x coverage).
Show me more healthy companies in the Tech industry
X
Financial health checks
We assess Doro'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. Doro has a total score of 4/6, 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.

DORO Dividends

 What is Doro'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
0%
Current annual income from Doro dividends. Estimated to be 3.54% next year.
If you bought SEK2,000 of Doro shares you are expected to receive SEK0 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?
  • Unable to evaluate Doro's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Doro's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:DORO 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 3 Analyst Estimates (S&P Global) See Below
Europe Tech Industry Average Dividend Yield Market Cap Weighted Average of 12 Stocks 1.6%
Sweden Market Average Dividend Yield Market Cap Weighted Average of 243 Stocks 3.2%
Sweden Minimum Threshold Dividend Yield 10th Percentile 1.1%
Sweden Bottom 25% Dividend Yield 25th Percentile 1.8%
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:DORO Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 1.41 3.00
2020-12-31 1.33 3.00
2019-12-31 1.07 3.00
OM:DORO Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2019-02-14 0.000 0.000
2018-10-19 0.000 0.000
2018-07-13 0.000 0.000
2018-04-27 0.000 0.000
2018-04-06 0.000 0.000
2017-04-05 1.000 2.079
2017-02-17 1.000 1.824
2016-02-17 0.000 0.000
2015-11-04 0.000 0.000
2015-08-21 0.000 0.000
2015-04-27 0.000 0.000
2015-04-10 0.000 0.000
2015-04-02 0.000 0.000
2014-04-11 1.500 4.251
2013-04-16 1.250 3.017
2013-02-13 1.250 4.441
2012-02-27 1.000 3.924
2012-02-15 1.000 3.328
2011-03-02 0.500 1.836
2011-02-14 0.500 1.559

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

  • Unable to perform a dividend volatility check as Doro has not reported any payouts.
  • Unable to verify if Doro's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Doro's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Doro has not reported any payouts.
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 Doro'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 Doro afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
    7. Doro 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.

DORO Management

 What is the CEO of Doro'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
Carl-Johan Boudrie
AGE 40
TENURE AS CEO 0 years
CEO Bio

Mr. Carl-Johan Zetterberg Boudrie has been Chief Executive Officer and President at Doro AB (publ) since May 13, 2019. Mr. Boudrie has been the Chief Financial Officer at Doro AB (publ) since October 25, 2017 and serves as its Secretary. He served as Vice President of Doro Care until October 25, 2017. Mr. Boudrie served as the Chief Business Development Officer of G&L Beijer AB (now known as Beijer Ref AB (publ)). He served as Chief Financial Officer at Lekolar. Mr. Boudrie served as Vice President of Business Development at Beijer Electronics AB until March 2013. He served as Business Development Director of Beijer Electronics and served as its Business Development Manager. Mr. Boudrie served as an Employee of Beijer Electronics since 2008. He holds MSc Eng., Royal Institute of Technology and MSc Program, Stockholm School of Economics, Stockholm University.

CEO Compensation
  • Insufficient data for Carl-Johan to compare compensation growth.
  • Insufficient data for Carl-Johan to establish whether their remuneration is reasonable compared to companies of similar size in Sweden.
Management Team Tenure

Average tenure and age of the Doro management team in years:

1.3
Average Tenure
44.5
Average Age
  • The average tenure for the Doro management team is less than 2 years, this suggests a new team.
Management Team

Carl-Johan Boudrie

TITLE
President
AGE
40

Carl-Johan Rijpma

TITLE
Vice President of Operations
AGE
43
TENURE
2.3 yrs

Johan Frogner

TITLE
Chief Technology & Information Officer
AGE
56
TENURE
0.6 yrs

Annika Ramsing

TITLE
Vice President of Human Resources
AGE
46
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the Doro board of directors in years:

1.3
Average Tenure
49.5
Average Age
  • The average tenure for the Doro board of directors is less than 3 years, this suggests a new board.
Board of Directors

Lennart Jacobsen

TITLE
Chairman of the Board
AGE
52
TENURE
0.3 yrs

Henri Österlund

TITLE
Vice Chairman
AGE
47
TENURE
2.6 yrs

Niklas Savander

TITLE
Director
AGE
56
TENURE
1.3 yrs

Josephine Salenstedt

TITLE
Director
AGE
34
TENURE
1.3 yrs

Mona Kristensson

TITLE
Employee Representative Director
AGE
52
TENURE
1.3 yrs

Towa Jexmark

TITLE
Director
AGE
47
TENURE
0.3 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)
20. Dec 18 Sell Thomas Bergdahl Individual 20. Dec 18 20. Dec 18 -9,425 SEK33.67 SEK-317,340
30. Nov 18 Sell Thomas Bergdahl Individual 30. Nov 18 30. Nov 18 -3,075 SEK35.11 SEK-107,963
21. Oct 18 Sell Thomas Bergdahl Individual 19. Oct 18 19. Oct 18 -11,210 SEK43.58 SEK-488,532
31. Jul 18 Buy Carl-Johan Rijpma Individual 31. Jul 18 31. Jul 18 500 SEK42.90 SEK21,450
X
Management checks
We assess Doro'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. Doro 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.

DORO News

Simply Wall St News

An Intrinsic Calculation For Doro AB (publ) (STO:DORO) Suggests It's 45% Undervalued

Today, we will estimate the stock's intrinsic value by taking the expected future cash flows and discounting them to their present value. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (SEK, Millions) SEK104.00 SEK114.00 SEK120.50 SEK120.40 SEK120.49 SEK120.71 SEK121.02 SEK121.39 SEK121.81 SEK122.27 Growth Rate Estimate Source Analyst x1 Analyst x2 Analyst x2 Est @ -0.08% Est @ 0.07% Est @ 0.18% Est @ 0.26% Est @ 0.31% Est @ 0.35% Est @ 0.37% Present Value (SEK, Millions) Discounted @ 7.76% SEK96.51 SEK98.16 SEK96.28 SEK89.27 SEK82.90 SEK77.07 SEK71.70 SEK66.74 SEK62.14 SEK57.88 Present Value of 10-year Cash Flow (PVCF)= SEK798.66m "Est" = FCF growth rate estimated by Simply Wall St We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = kr122m × (1 + 0.4%) ÷ (7.8% – 0.4%) = kr1.7b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = SEKkr1.7b ÷ ( 1 + 7.8%)10 = SEK793.03m The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is SEK1.59b.

Simply Wall St - –

Is Doro AB (publ)’s (STO:DORO) 13% Return On Capital Employed Good News?

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Understanding Return On Capital Employed (ROCE). … ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business.

Simply Wall St - –

A Look At Doro AB (publ)'s (STO:DORO) Exceptional Fundamentals

As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook. … is a company that has been able to sustain great financial health, trading at an attractive share price.

Simply Wall St - –

Doro AB (publ) (STO:DORO): Has Recent Earnings Growth Beaten Long-Term Trend?

Assessing Doro AB (publ)'s (STO:DORO) past track record of performance is an insightful exercise for investors. … Today I will assess DORO's recent performance announced on 31 December 2018 and evaluate these figures to its long-term trend and industry movements. … Commentary On DORO's Past Performance.

Simply Wall St - –

Doro AB (publ) (STO:DORO): Immense Growth Potential?

In December 2018, Doro AB (publ) (STO:DORO) released its earnings update. … analyst consensus outlook appear cautiously subdued, … the higher past 5-year average growth rate of 8.1%

Simply Wall St - –

Did You Manage To Avoid Doro's (STO:DORO) 45% Share Price Drop?

Unfortunately, that's been the case for longer term Doro AB (publ) (STO:DORO) shareholders, since the share price is down 45% in the last three years, falling well short of the market return of around 30%. … It's worth taking a look at other metrics, because the EPS growth doesn't seem to match with the falling share price. … With revenue flat over three years, it seems unlikely that the share price is reflecting the top line.

Simply Wall St - –

What Should You Know About Doro AB (publ)'s (STO:DORO) Future?

In December 2018, Doro AB (publ) (STO:DORO) announced its latest earnings update, whicha … confirmed

Simply Wall St - –

With A Return On Equity Of 13%, Has Doro AB (publ)'s (STO:DORO) Management Done Well?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … That means that for every SEK1 worth of shareholders' equity, it generated SEK0.13 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St - –

Doro AB (publ)'s (STO:DORO) Most Important Factor To Consider

I will take you through Doro’s cash flow health and the risk-return concept based on the stock’s cash flow yield, using the most recent financial data. … What is free cash flow. … Doro’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure

Simply Wall St - –

How Financially Strong Is Doro AB (publ) (STO:DORO)?

While small-cap stocks, such as Doro AB (publ) (STO:DORO) with its market cap of kr901m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St - –

DORO Company Info

Description

Doro AB (publ) develops telecom products and services for seniors. It offers easy-to-use mobile phones and smart phones, mobile applications, and fixed line telephony services. The company also provides social care services and telecare services, such as security alarms, alarm reception, and support services for seniors and disabled people. Doro AB (publ) sells its products in approximately 40 countries primarily through a network of telecom operators, specialists, and retailers to end-customers. The company was founded in 1974 and is headquartered in Malmö, Sweden.

Details
Name: Doro AB (publ)
DORO
Exchange: OM
Founded: 1974
SEK854,371,091
23,765,538
Website: http://www.doro.com/sv-se
Address: Doro AB (publ)
Jörgen Kocksgatan 1B,
Malmö,
Skåne County, 211 20,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM DORO Class A Shares OMX Nordic Exchange Stockholm SE SEK 09. May 2006
DB DR8A Class A Shares Deutsche Boerse AG DE EUR 09. May 2006
LSE 0HW6 Class A Shares London Stock Exchange GB SEK 09. May 2006
BATS-CHIXE DOROS Class A Shares BATS 'Chi-X Europe' GB SEK 09. May 2006
Number of employees
Current staff
Staff numbers
566
Doro employees.
Industry
Technology Hardware, Storage and Peripherals
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 21:01
End of day share price update: 2019/05/20 00:00
Last estimates confirmation: 2019/05/09
Last earnings filing: 2019/05/03
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.

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