OM:NOBINA

Stock Analysis Report

Executive Summary

Nobina AB (publ), through its subsidiaries, provides public transportation services in Sweden, Norway, Denmark, and Finland.

Snowflake

Fundamentals

Moderate growth potential with mediocre balance sheet.

Risks

  • Nobina is covered by less than 3 analysts.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-1.5%

OM:NOBINA

-1.5%

SE Transportation

-1.2%

SE Market


1 Year Return

-18.1%

OM:NOBINA

-18.1%

SE Transportation

-2.6%

SE Market

NOBINA underperformed the Transportation industry which returned -6.7% over the past year.

NOBINA underperformed the Market in Sweden which returned -2.7% over the past year.


Share holder returns

NOBINAIndustryMarket
7 Day-1.5%-1.5%-1.2%
30 Day-4.6%-4.6%-3.6%
90 Day-11.0%-11.0%-2.8%
1 Year-12.3%-18.1%-12.3%-18.1%1.4%-2.6%
3 Year36.3%13.3%36.3%13.3%25.3%6.6%
5 Yearn/a0%0%44.9%14.3%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

11%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Nobina's share price is below the future cash flow value, but not at a moderate discount (< 20%).

Nobina's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

Nobina is overvalued based on earnings compared to the Europe Transportation industry average.

Nobina is good value based on earnings compared to the Sweden market.


Price Based on Expected Growth

Nobina is poor value based on expected growth next year.


Price Based on Value of Assets

Nobina is overvalued based on assets compared to the Europe Transportation industry average.


Next Steps

Future Growth

How is Nobina expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

8.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Nobina's revenue is expected to grow by 4.3% yearly, however this is not considered high growth (20% yearly).

Nobina's earnings are expected to grow by 8.9% yearly, however this is not considered high growth (20% yearly).

Nobina's revenue growth is positive but not above the Sweden market average.

Nobina's earnings growth is expected to exceed the Sweden market average.

Nobina's earnings growth is expected to exceed the low risk savings rate of 0.4%.


Earnings per Share Growth Estimates


Future Return on Equity

Nobina is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).


Next Steps

Past Performance

How has Nobina performed over the past 5 years?

36.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Nobina has delivered over 20% year on year earnings growth in the past 5 years.

Nobina's 1-year earnings growth is less than its 5-year average (3.2% vs 36.3%)

Nobina's earnings growth has not exceeded the Europe Transportation industry average in the past year (3.2% vs 4.7%).


Return on Equity

Whilst Nobina has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.


Return on Assets

Nobina used its assets more efficiently than the Europe Transportation industry average last year based on Return on Assets.


Return on Capital Employed

Nobina's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Nobina's financial position?


Financial Position Analysis

Nobina's short term (1 year) commitments are greater than its holdings of cash and other short term assets.

Nobina's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Nobina's level of debt (110.2%) 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 (435.3% vs 110.2% today).

Debt is well covered by operating cash flow (83%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 5x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 1.3x debt.


Next Steps

Dividend

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

7.52%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Nobina's pays a higher dividend yield than the bottom 25% of dividend payers in Sweden (1.97%).

Nobina's dividend is above the markets top 25% of dividend payers in Sweden (4.54%).

Whilst dividend payments have been stable, Nobina has been paying a dividend for less than 10 years.

Dividend payments have increased, but Nobina only paid a dividend in the past 3 years.


Current Payout to Shareholders

Dividends paid are not well covered by earnings (1x coverage).


Future Payout to Shareholders

Dividends after 3 years are not well covered by earnings (1.1x coverage).


Next Steps

Management

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

4.8yrs

Average management tenure


CEO

Ros Rosén (57yo)

2.2yrs

Tenure

kr11,100,000

Compensation

Mr. Magnus Rosén, also known as Ros, M.Sc., MBA, has been Chief Executive Officer and President at Nobina AB since June 1, 2017. Mr. Rosén serves as Senior Vice President of Scandinavia of Rakentajain Kone ...


CEO Compensation Analysis

Ros's remuneration is higher than average for companies of similar size in Sweden.

Ros's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.


Management Age and Tenure

4.8yrs

Average Tenure

54yo

Average Age

The tenure for the Nobina management team is about average.


Board Age and Tenure

2.3yrs

Average Tenure

59yo

Average Age

The average tenure for the Nobina board of directors is less than 3 years, this suggests a new board.


Insider Trading

More shares have been bought than sold by Nobina individual insiders in the past 3 months.


Recent Insider Transactions

Buykr173,92508 Jul 19
Jan Volsdal
EntityIndividual
Shares3,000
Max Pricekr57.97
Buykr575,59005 Jul 19
Magnus Rosén
EntityIndividual
Role
President & CEO
Shares10,000
Max Pricekr57.56
Buykr233,00010 Apr 19
Henrik Dagnäs
EntityIndividual
Role
Managing Director of Nobina Sverige AB
Shares4,000
Max Pricekr58.25
Buykr719,27009 Nov 18
Magnus Rosén
EntityIndividual
Role
President & CEO
Shares12,000
Max Pricekr60.26
Buykr71,61029 Aug 18
Anna Jonasson
EntityIndividual
Shares1,100
Max Pricekr65.10

Ownership Breakdown


Management Team

  • Ros Rosén (57yo)

    President & CEO

    • Tenure: 2.2yrs
    • Compensation: SEK11.10m
  • Niels Nielsen (54yo)

    Managing Director of Nobina Danmark A/S

    • Tenure: 8.6yrs
  • Mattias Gelinder

    Head of Treasury & Investor Relations

  • Martin Pagrotsky (45yo)

    General Counsel & Chief Compliance Officer

    • Tenure: 13.6yrs
  • Jan Bosaeus (59yo)

    Deputy CEO & VP

    • Tenure: 0.9yrs
  • Jonas Kempe

    Marketing Director of Business to Business

  • Jenny Lundmark (44yo)

    HR Director

    • Tenure: 0.3yrs
  • David Erixon

    Head of Communications

  • Per Skärgård (62yo)

    VP & CFO

    • Tenure: 15.6yrs
  • Henrik Dagnäs (49yo)

    Managing Director of Nobina Sverige AB

    • Tenure: 4.8yrs

Board Members

  • John Allkins (70yo)

    Independent Director

    • Tenure: 6.3yrs
    • Compensation: SEK500.00k
  • Graham Oldroyd (58yo)

    Independent Director

    • Tenure: 5.6yrs
    • Compensation: SEK500.00k
  • Jan Sjöqvist (71yo)

    Chairman of the Board

    • Tenure: 14.6yrs
    • Compensation: SEK900.00k
  • Liselott Kilaas (60yo)

    Director

    • Tenure: 2.3yrs
    • Compensation: SEK500.00k
  • Bertil Persson (58yo)

    Director

    • Tenure: 1.3yrs
    • Compensation: SEK500.00k
  • Monica Lingegård (57yo)

    Director

    • Tenure: 2.3yrs
    • Compensation: SEK500.00k
  • Johan Bygge

    Vice Chairman

    • Tenure: 0.3yrs

Company Information

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


Key Information

  • Name: Nobina AB (publ)
  • Ticker: NOBINA
  • Exchange: OM
  • Founded: 1911
  • Industry: trucking
  • Sector: transportation
  • Market Cap: kr4.739b
  • Shares outstanding: 87.11m
  • Website: Click here

Number of Employees


Location

  • Nobina AB (publ)
  • Armégatan 38
  • Solna
  • Stockholm County
  • 171 71
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NOBINAOM (OMX Nordic Exchange Stockholm)YesOrdinary SharesSESEKMar 2015
NOBINsBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBSEKMar 2015
0R8OLSE (London Stock Exchange)YesOrdinary SharesGBSEKMar 2015
203DB (Deutsche Boerse AG)YesOrdinary SharesDEEURMar 2015
NOBINAOM (OMX Nordic Exchange Stockholm)Ordinary SharesSESEKInvalid date

Biography

Nobina AB (publ), through its subsidiaries, provides public transportation services in Sweden, Norway, Denmark, and Finland. The company offers scheduled and express bus services. It has a fleet of approxi ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/17 22:09
End of Day Share Price2019/08/16 00:00
Earnings2019/05/31
Annual Earnings2019/02/28


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.