OTCPK:DRRK.F

Stock Analysis Report

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Executive Summary

dormakaba Holding AG provides access and security solutions worldwide.


Snowflake Analysis

Adequate balance sheet average dividend payer.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: DRRK.F has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

DRRK.F

1.3%

US Building

2.3%

US Market


1 Year Return

-18.0%

DRRK.F

-8.1%

US Building

6.7%

US Market

Return vs Industry: DRRK.F underperformed the US Building industry which returned -7.8% over the past year.

Return vs Market: DRRK.F underperformed the US Market which returned 6.1% over the past year.


Shareholder returns

DRRK.FIndustryMarket
7 Day0%1.3%2.3%
30 Day0%0.5%1.5%
90 Day29.7%21.3%17.8%
1 Year-18.0%-18.0%-1.3%-8.1%9.0%6.7%
3 Yearn/a11.2%0.9%36.6%27.7%
5 Yearn/a45.7%22.1%64.2%46.2%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is dormakaba Holding undervalued compared to its fair value and its price relative to the market?

38.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: DRRK.F ($595.5) is trading below our estimate of fair value ($960.72)

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


Price To Earnings Ratio

PE vs Industry: DRRK.F is good value based on its PE Ratio (17.1x) compared to the US Building industry average (18.8x).

PE vs Market: DRRK.F is poor value based on its PE Ratio (17.1x) compared to the US market (15.8x).


Price to Earnings Growth Ratio

PEG Ratio: DRRK.F is poor value based on its PEG Ratio (2.2x)


Price to Book Ratio

PB vs Industry: DRRK.F is overvalued based on its PB Ratio (17.8x) compared to the US Building industry average (2.2x).


Next Steps

Future Growth

How is dormakaba Holding forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

7.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DRRK.F's forecast earnings growth (7.6% per year) is above the savings rate (2.2%).

Earnings vs Market: DRRK.F's earnings (7.6% per year) are forecast to grow slower than the US market (22.8% per year).

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

Revenue vs Market: DRRK.F's revenue (1.8% per year) is forecast to grow slower than the US market (9.4% per year).

High Growth Revenue: DRRK.F's revenue (1.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: DRRK.F's Return on Equity is forecast to be very high in 3 years time (53%).


Next Steps

Past Performance

How has dormakaba Holding performed over the past 5 years?

11.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DRRK.F has high quality earnings.

Growing Profit Margin: DRRK.F's current net profit margins (4.5%) are lower than last year (4.6%).


Past Earnings Growth Analysis

Earnings Trend: DRRK.F's earnings have grown by 11.7% per year over the past 5 years.

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

Earnings vs Industry: DRRK.F had negative earnings growth (-3.2%) over the past year, making it difficult to compare to the Building industry average (-6.8%).


Return on Equity

High ROE: Whilst DRRK.F's Return on Equity (222.1%) is outstanding, this metric is skewed due to their high level of debt.


Next Steps

Financial Health

How is dormakaba Holding's financial position?


Financial Position Analysis

Short Term Liabilities: DRRK.F's short term assets (CHF1.1B) exceed its short term liabilities (CHF764.3M).

Long Term Liabilities: DRRK.F's short term assets (CHF1.1B) exceed its long term liabilities (CHF1.0B).


Debt to Equity History and Analysis

Debt Level: DRRK.F's debt to equity ratio (842.8%) is considered high.

Reducing Debt: DRRK.F's debt to equity ratio has increased from 58.4% to 842.8% over the past 5 years.

Debt Coverage: DRRK.F's debt is well covered by operating cash flow (33.9%).

Interest Coverage: DRRK.F's interest payments on its debt are well covered by EBIT (9x coverage).


Balance Sheet


Next Steps

Dividend

What is dormakaba Holding current dividend yield, its reliability and sustainability?

3.06%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: DRRK.F's dividend (3.06%) is higher than the bottom 25% of dividend payers in the US market (1.7%).

High Dividend: DRRK.F's dividend (3.06%) is low compared to the top 25% of dividend payers in the US market (4.69%).


Stability and Growth of Payments

Stable Dividend: DRRK.F's dividend payments have been volatile in the past 10 years.

Growing Dividend: DRRK.F's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (52.2%), DRRK.F's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: DRRK.F's dividends in 3 years are forecast to be covered by earnings (50.9% payout ratio).


Next Steps

Management

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

7.3yrs

Average management tenure


CEO

Riet Cadonau (59yo)

9yrs

Tenure

CHF3,778,968

Compensation

Mr. Riet Cadonau serves as has been Chief Executive Officer at dormakaba Holding AG since July 1, 2011 and serves as its Chairman since 2018. Mr. Cadonau is responsible for leveraging the ACS's BPO experti ...


CEO Compensation Analysis

Compensation vs Market: Riet's total compensation ($USD4.02M) is about average for companies of similar size in the US market ($USD4.76M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Riet Cadonau
Chairman & CEO9yrsCHF3.78m0.11% CHF2.6m
Bernd Brinker
Chief Financial Officer5.5yrsno data0.024% CHF541.4k
Andreas Häberli
Chief Technology Officer9yrsno data0.045% CHF1.0m
David Ratcliffe
General Counselno datano datano data
Stefano Zocca
Chief Operating Officer of Key & Wall Solutions9yrsno data0.044% CHF1.0m
Markus Stauble
Head of Group Information Technologyno datano datano data
Kurt Niederhauser
Head of Group Controlling29.5yrsno datano data
Jim-Heng Lee
Chief Operating Officer of Access Solutions - APAC1.5yrsno data0.044% CHF1.0m
Alwin Berninger
COO of Access Solutions DACH2.5yrsno data0.0019% CHF44.5k
Steve Bewick
Chief Operating Officer of Access Solutions EMEA0.50yrno datano data

7.3yrs

Average Tenure

55yo

Average Age

Experienced Management: DRRK.F's management team is seasoned and experienced (7.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Riet Cadonau
Chairman & CEO9yrsCHF3.78m0.11% CHF2.6m
Rolf Dörig
Non-Executive Director16.5yrsCHF254.95k0.060% CHF1.4m
Hans Hess
Lead Independent Director & Vice-Chairmanno dataCHF266.07k0.035% CHF815.8k
John Heppner
Non-Executive Director6.75yrsCHF183.33k0.018% CHF412.9k
Karina Dubs-Kuenzle
Non-Executive Director19.5yrsCHF203.20k2.4% CHF55.4m
Daniel Daeniker
Non-Executive Director10.5yrsCHF246.02k0.037% CHF851.6k
Christine Mankel-Madaus
Non-Executive Director4.83yrsCHF170.00k4.59% CHF105.7m
Stephanie Brecht-Bergen
Director4.83yrsCHF170.00k4.59% CHF105.7m
Hans Gummert
Director4.83yrsCHF307.15k0.014% CHF326.2k
Jens Birgersson
Director1.75yrsCHF113.33k0.0013% CHF28.8k

5.8yrs

Average Tenure

58yo

Average Age

Experienced Board: DRRK.F's board of directors are considered experienced (5.8 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.


Top Shareholders

Company Information

dormakaba Holding AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: dormakaba Holding AG
  • Ticker: DRRK.F
  • Exchange: OTCPK
  • Founded: 1862
  • Industry: Building Products
  • Sector: Capital Goods
  • Market Cap: CHF2.166b
  • Listing Market Cap: CHF2.304b
  • Shares outstanding: 4.15m
  • Website: https://www.dormakaba.com

Number of Employees


Location

  • dormakaba Holding AG
  • Hofwisenstrasse 24
  • Rümlang
  • Zurich
  • 8153
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DRRK.FOTCPK (Pink Sheets LLC)YesRegistered SharesUSUSDNov 1995
DOKASWX (SIX Swiss Exchange)YesRegistered SharesCHCHFNov 1995
KABNDB (Deutsche Boerse AG)YesRegistered SharesDEEURNov 1995
0QMSLSE (London Stock Exchange)YesRegistered SharesGBCHFNov 1995
DRMK.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDJun 2017

Biography

dormakaba Holding AG provides access and security solutions worldwide. The company operates through Access Solutions, and Key and Wall Solutions segments. It offers door hardware products, such as door closer systems, heavy duty exit devices, and elegant door hardware interconnect towers; entrance systems, including automated boarding pass controls and automatic sliding doors; electronic access control and data collection solutions; mechanical and master key systems; lodging systems comprising electronic hotel locks and access control systems; safe locks; interior glass systems, which include multifunctional manual sliding door systems; key systems and key cutting machines; and movable walls. The company offers its products to hotels, shops, sporting venues, airports, hospitals, homes, and offices. dormakaba Holding AG was founded in 1862 and is based in Rümlang, Switzerland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/11 00:50
End of Day Share Price2020/06/03 00:00
Earnings2019/12/31
Annual Earnings2019/06/30


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.