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B2Holding

OTCPK:BTOH.F
Snowflake Description

Good value with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BTOH.F
OTCPK
NOK6B
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

B2Holding ASA engages in the acquisition, management, and collection of unsecured and secured non-performing loans. The last earnings update was 63 days ago. More info.


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BTOH.F Share Price and Events
7 Day Returns
0%
OTCPK:BTOH.F
0.1%
US Consumer Finance
-0%
US Market
1 Year Returns
-30.8%
OTCPK:BTOH.F
-13.1%
US Consumer Finance
-7.4%
US Market
BTOH.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
B2Holding (BTOH.F) 0% 0% - -30.8% - -
US Consumer Finance 0.1% 10.4% -1.1% -13.1% 52.7% 18.5%
US Market -0% 8.1% 1.1% -7.4% 37.7% 41.8%
1 Year Return vs Industry and Market
  • BTOH.F underperformed the Consumer Finance industry which returned -13.1% over the past year.
  • BTOH.F underperformed the Market in United States of America which returned -7.4% over the past year.
Price Volatility
BTOH.F
Industry
5yr Volatility vs Market

BTOH.F Value

 Is B2Holding 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 B2Holding 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 B2Holding.

OTCPK:BTOH.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 5 analysts.
= Stable Book Value * Return on Equity
= NOK12.84 * 19.2%
NOK2.47
Book Value of Equity per Share Weighted future Book Value estimates from 5 analysts. NOK12.84
Discount Rate (Cost of Equity) See below 14.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

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 OTCPK:BTOH.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 7.3%
Consumer Finance Unlevered Beta Simply Wall St/ S&P Global 0.66
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.659 (1 + (1- 23%) (179.61%))
1.57
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.57
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.57 * 7.27%)
14.14%

Discounted Cash Flow Calculation for OTCPK:BTOH.F using Excess Returns Model Model

The calculations below outline how an intrinsic value for B2Holding is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

OTCPK:BTOH.F Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (19.2% – 14.14%) * NOK12.84)
NOK0.65
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NOK0.65 / (14.14% - 2.73%)
NOK5.73
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NOK12.84 + NOK5.73
NOK18.57
OTCPK:BTOH.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:BTOH.F represents 0.1291x of OB:B2H
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.1291x
Value per Share
(Listing Adjusted, USD)
= Value per Share (NOK) x Listing Adjustment Factor
= NOK 18.57 x 0.1291
$2.40
Value per share (USD) From above. $2.40
Current discount Discount to share price of $1.73
= -1 x ($1.73 - $2.40) / $2.40
27.8%

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

Current Discount
Amount off the current price B2Holding is available for.
Intrinsic value
28%
Share price is $1.73 vs Future cash flow value of $2.4
Current Discount Checks
For B2Holding to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • B2Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • B2Holding's share price is below the future cash flow value, but not 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 B2Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are B2Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:BTOH.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in NOK NOK1.66
OB:B2H Share Price ** OB (2018-11-02) in NOK NOK13.4
United States of America Consumer Finance Industry PE Ratio Median Figure of 27 Publicly-Listed Consumer Finance Companies 9.45x
United States of America Market PE Ratio Median Figure of 3,028 Publicly-Listed Companies 16.71x

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

** Primary Listing of B2Holding.

OTCPK:BTOH.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:B2H Share Price ÷ EPS (both in NOK)

= 13.4 ÷ 1.66

8.05x

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

  • B2Holding is good value based on earnings compared to the US Consumer Finance industry average.
  • B2Holding is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does B2Holding's expected growth come at a high price?
Raw Data
OTCPK:BTOH.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.05x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
21%per year
United States of America Consumer Finance Industry PEG Ratio Median Figure of 24 Publicly-Listed Consumer Finance Companies 0.66x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.29x

*Line of best fit is calculated by linear regression .

OTCPK:BTOH.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.05x ÷ 21%

0.38x

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

  • B2Holding is good value based on expected growth next year.
Price based on value of assets
What value do investors place on B2Holding's assets?
Raw Data
OTCPK:BTOH.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in NOK NOK9.83
OB:B2H Share Price * OB (2018-11-02) in NOK NOK13.4
United States of America Consumer Finance Industry PB Ratio Median Figure of 41 Publicly-Listed Consumer Finance Companies 1.28x
United States of America Market PB Ratio Median Figure of 5,104 Publicly-Listed Companies 1.78x
OTCPK:BTOH.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:B2H Share Price ÷ Book Value per Share (both in NOK)

= 13.4 ÷ 9.83

1.36x

* Primary Listing of B2Holding.

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

  • B2Holding is overvalued based on assets compared to the US Consumer Finance industry average.
X
Value checks
We assess B2Holding'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 Consumer Finance 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 Consumer Finance industry average (and greater than 0)? (1 check)
  5. B2Holding has a total score of 4/6, 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.

BTOH.F Future Performance

 How is B2Holding expected to perform in the next 1 to 3 years based on estimates from 5 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
21%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is B2Holding expected to grow at an attractive rate?
  • B2Holding's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • B2Holding's earnings growth is expected to exceed the United States of America market average.
  • B2Holding's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:BTOH.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:BTOH.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 21%
OTCPK:BTOH.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 18.5%
United States of America Consumer Finance Industry Earnings Growth Rate Market Cap Weighted Average 4.3%
United States of America Consumer Finance Industry Revenue Growth Rate Market Cap Weighted Average 11.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.4%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*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
OTCPK:BTOH.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:BTOH.F Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 4,672 1,208 1
2020-12-31 4,217 5,320 1,032 5
2019-12-31 3,696 4,290 881 5
2018-12-31 2,970 2,719 648 5
OTCPK:BTOH.F Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2018-09-30 2,159 2,191 649
2018-06-30 2,017 1,820 604
2018-03-31 1,794 1,451 529
2017-12-31 1,658 1,289 482
2017-09-30 1,573 1,157 401
2017-06-30 1,461 1,082 332
2017-03-31 1,336 1,031 287
2016-12-31 1,173 908 182
2016-09-30 1,114 718 104
2016-06-30 1,049 668 184
2016-03-31 976 661 204
2015-12-31 965 591 197

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • B2Holding's earnings are expected to grow significantly at over 20% yearly.
  • B2Holding's revenue is expected to grow by 18.5% 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
OTCPK:BTOH.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from B2Holding Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:BTOH.F Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 2.49 2.71 1.97 5.00
2019-12-31 2.12 2.48 1.88 5.00
2018-12-31 1.57 1.69 1.43 5.00
OTCPK:BTOH.F Past Financials Data
Date (Data in NOK Millions) EPS *
2018-09-30 1.66
2018-06-30 1.60
2018-03-31 1.44
2017-12-31 1.30
2017-09-30 1.10
2017-06-30 0.90
2017-03-31 0.80
2016-12-31 0.53
2016-09-30 0.31
2016-06-30 0.58
2016-03-31 0.65
2015-12-31 0.63

*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.
  • B2Holding is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess B2Holding'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 United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America 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.
B2Holding has a total score of 4/6, 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.

BTOH.F Past Performance

  How has B2Holding 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 B2Holding's growth in the last year to its industry (Consumer Finance).
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.
  • B2Holding has delivered over 20% year on year earnings growth in the past 5 years.
  • B2Holding's 1-year earnings growth exceeds its 5-year average (61.8% vs 45.1%)
  • B2Holding's earnings growth has exceeded the US Consumer Finance industry average in the past year (61.8% vs 55.3%).
Earnings and Revenue History
B2Holding'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 B2Holding Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:BTOH.F Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 2,158.77 648.88 684.00
2018-06-30 2,017.19 603.76 633.63
2018-03-31 1,793.65 529.48 580.60
2017-12-31 1,657.80 481.65 521.57
2017-09-30 1,573.09 401.11 460.98
2017-06-30 1,461.16 331.97 424.27
2017-03-31 1,336.42 287.44 397.64
2016-12-31 1,172.68 181.58 384.83
2016-09-30 1,113.52 103.53 385.64
2016-06-30 1,049.26 183.52 371.58
2016-03-31 975.94 204.22 338.43
2015-12-31 964.63 197.21 313.27
2014-12-31 466.84 46.77 147.11
2013-12-31 192.76 31.31 68.17
2012-12-31 130.64 14.40 45.02

*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.
  • B2Holding has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • B2Holding used its assets less efficiently than the US Consumer Finance industry average last year based on Return on Assets.
  • Unable to establish if B2Holding improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess B2Holding'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 Consumer Finance 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.
B2Holding 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.

BTOH.F Health

 How is B2Holding'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 B2Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • B2Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • B2Holding's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of B2Holding'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 1.4x 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 B2Holding Company Filings, last reported 4 months ago.

OTCPK:BTOH.F Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 4,011.29 9,881.10 673.31
2018-06-30 3,826.78 8,419.80 613.87
2018-03-31 3,874.73 7,423.72 569.08
2017-12-31 3,148.38 7,044.63 464.69
2017-09-30 2,819.44 5,023.05 332.56
2017-06-30 2,781.58 4,553.46 350.72
2017-03-31 2,620.42 3,405.55 222.81
2016-12-31 2,424.89 3,325.32 217.61
2016-09-30 2,362.10 2,434.67 221.90
2016-06-30 2,280.51 2,466.73 214.71
2016-03-31 1,666.64 2,490.33 273.05
2015-12-31 1,671.91 2,603.34 758.11
2014-12-31 1,372.15 1,277.44 284.30
2013-12-31 454.32 351.83 117.70
2012-12-31 192.69 0.00 65.71
  • B2Holding's level of debt (246.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (67.9% vs 246.3% today).
  • Debt is well covered by operating cash flow (22.2%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on B2Holding's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess B2Holding'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. B2Holding 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.

BTOH.F Dividends

 What is B2Holding'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
2.24%
Current annual income from B2Holding dividends. Estimated to be 4.83% next year.
If you bought $2,000 of B2Holding shares you are expected to receive $45 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?
  • B2Holding's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • B2Holding's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).
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
OTCPK:BTOH.F 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 5 Analyst Estimates (S&P Global) See Below
United States of America Consumer Finance Industry Average Dividend Yield Market Cap Weighted Average of 11 Stocks 2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1988 Stocks 2.6%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.9%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

OTCPK:BTOH.F Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.75 1.00
2020-12-31 0.77 5.00
2019-12-31 0.50 5.00
2018-12-31 0.36 5.00
OTCPK:BTOH.F Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2018-02-28 0.300 1.835
2017-02-27 0.150 0.867

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

  • Whilst dividend payments have been stable, B2Holding has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but B2Holding only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of B2Holding's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (5.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.2x coverage).
X
Income/ dividend checks
We assess B2Holding's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 B2Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. B2Holding has a total score of 3/6, see the detailed checks below.


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

BTOH.F Management

 What is the CEO of B2Holding'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
Olav Zahl
COMPENSATION NOK5,440,000
AGE 57
TENURE AS CEO 13 years
CEO Bio

Mr. Olav Dalen Zahl has been the Chief Executive Officer of B2 Holding AS since 2006. Mr. Zahl served as Managing Director of Aktiv Kapital ASA from 1998 to 2005 and served as its Chief Executive Officer. He served as Managing Director of Det Norske Møbelsenter from 1992 to 1996. He serves as Chairman of the Supervisory Board of ULTIMO S.A. He serves as the Chairman of the Board of Directors at OK Perintä Oy. He has been a Director of Gothia Financial Group AB since 2006. He served as a Director of Opticom ASA until January 2006. Mr. Zahl served as a Member of the Board of Directors of Aktiv Kapital's subsidiaries from 1998 to 2005. He holds MSc (Econ) from Norges Handelshøyskole NHH.

CEO Compensation
  • Olav's compensation has been consistent with company performance over the past year.
  • Olav's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the B2Holding management team in years:

2
Average Tenure
58
Average Age
  • The tenure for the B2Holding management team is about average.
Management Team

Jon Nordbrekken

TITLE
Founder & Chairman of the Board
COMPENSATION
NOK1M
AGE
66
TENURE
14 yrs

Olav Zahl

TITLE
Chief Executive Officer
COMPENSATION
NOK5M
AGE
57
TENURE
13 yrs

Erik Johnsen

TITLE
Chief Financial Officer
COMPENSATION
NOK4M
AGE
58
TENURE
2 yrs

Jeremi Bobowski

TITLE
Chief Investment Officer
COMPENSATION
NOK3M
TENURE
3.6 yrs

J. Henriksen

TITLE
Chief Compliance Officer
COMPENSATION
NOK3M
AGE
63
TENURE
2 yrs

Thor Moen

TITLE
Chief Legal Officer
COMPENSATION
NOK3M
TENURE
1.6 yrs

Danckert Mellbye

TITLE
Chief Organisation & Improvement Officer
COMPENSATION
NOK2M
TENURE
1.5 yrs

Kari Ahlström

TITLE
Regional Director of Finland & Baltics
COMPENSATION
NOK2M
TENURE
1.3 yrs

Ilija Plavcic

TITLE
Regional Director of Central Europe
COMPENSATION
NOK3M
TENURE
1.6 yrs

Rasmus Hansson

TITLE
M&A Director and Regional Director of New Markets
COMPENSATION
NOK3M
AGE
46
TENURE
4 yrs
Board of Directors Tenure

Average tenure and age of the B2Holding board of directors in years:

4.3
Average Tenure
44
Average Age
  • The tenure for the B2Holding board of directors is about average.
Board of Directors

Grethe Meier

TITLE
Deputy Board Member

Jon Nordbrekken

TITLE
Founder & Chairman of the Board
COMPENSATION
NOK1M
AGE
66
TENURE
10 yrs

Per Spone

TITLE
Director
COMPENSATION
NOK302K
AGE
45
TENURE
7 yrs

Kari Moe

TITLE
Independent Director
COMPENSATION
NOK290K
AGE
43
TENURE
2.7 yrs

Trygve Lauvdal

TITLE
Director
COMPENSATION
NOK290K
AGE
49
TENURE
6 yrs

Tove Raanes

TITLE
Director
COMPENSATION
NOK302K
AGE
41
TENURE
2.7 yrs

Niklas Wiberg

TITLE
Member of Investment Committee
COMPENSATION
NOK125K
AGE
40
TENURE
2.7 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by B2Holding insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
14. Dec 18 Buy Per Spone Individual 13. Dec 18 13. Dec 18 30,600 $1.54 $47,067
14. Dec 18 Buy Per Spone Individual 14. Dec 18 14. Dec 18 36,108 $1.53 $55,235
13. Dec 18 Buy Grethe Meier Individual 13. Dec 18 13. Dec 18 15,000 $1.53 $23,002
12. Dec 18 Buy Olav Zahl Individual 12. Dec 18 12. Dec 18 30,000 $1.47 $44,113
07. Dec 18 Buy Tore Krogstad Individual 06. Dec 18 06. Dec 18 16,000 $1.44 $23,116
30. Nov 18 Buy Kjetil Garstad Individual 30. Nov 18 30. Nov 18 60,000 $1.56 $93,339
30. Nov 18 Buy Jon Nordbrekken Individual 30. Nov 18 30. Nov 18 111,504 $1.57 $175,535
29. Nov 18 Buy Maria Haddad Individual 28. Nov 18 28. Nov 18 65,000 $1.60 $104,064
28. Nov 18 Buy Ingeborg Andresen Individual 28. Nov 18 28. Nov 18 5,500 $1.56 $8,594
19. Jul 18 Buy Jon Nordbrekken Individual 18. Jul 18 18. Jul 18 250,000 $2.04 $508,951
29. Jun 18 Buy Kjetil Garstad Individual 29. Jun 18 29. Jun 18 25,000 $2.09 $52,149
13. Jun 18 Buy Grethe Meier Individual 13. Jun 18 13. Jun 18 10,000 $2.25 $22,512
04. Jun 18 Buy Erik Johnsen Individual 01. Jun 18 01. Jun 18 100,000 $2.30 $229,651
04. Jun 18 Buy Olav Zahl Individual 01. Jun 18 01. Jun 18 100,000 $2.29 $229,366
01. Jun 18 Buy Tore Krogstad Individual 31. May 18 31. May 18 15,000 $2.23 $33,398
01. Jun 18 Buy RMH Invest AS Company 31. May 18 31. May 18 10,000 $2.23 $22,265
01. Jun 18 Buy Valset Invest AS Company 31. May 18 31. May 18 250,000 $2.23 $556,632
X
Management checks
We assess B2Holding'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. B2Holding 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.

BTOH.F News

Simply Wall St News

BTOH.F Company Info

Map
Description

B2Holding ASA engages in the acquisition, management, and collection of unsecured and secured non-performing loans. It focuses on purchasing and collecting non-performing consumer and non-retail debts, primarily from the banking and financial sector, as well as from telecom operators, and retail and utility companies. The company also provides other services related to recovery of consumer debts, such as third party debt collection, debt purchase, consumer lending, and credit information services, as well as telemarketing and fraud prevention services. It principally operates in Norway, Sweden, Denmark, Finland, Estonia, Latvia, Lithuania, Poland, Croatia, Slovenia, Serbia, Montenegro, Bosnia-Herzegovina, Austria, the Czech Republic, Hungary, Italy, Spain, Bulgaria, Romania, and Greece. B2 Holding AS was founded in 2011 and is headquartered in Oslo, Norway.

Details
Name: B2Holding ASA
BTOH.F
Exchange: OTCPK
Founded: 2011
NOK647,294,999
409,932,598
Website: http://www.b2holding.no
Address: B2Holding ASA
Stortingsgaten 22,
7th Floor,
Oslo,
Oslo, 0161,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB B2H Ordinary Shares Oslo Bors NO NOK 04. Dec 2014
OTCPK BTOH.F Ordinary Shares Pink Sheets LLC US USD 04. Dec 2014
LSE 0RIT Ordinary Shares London Stock Exchange GB NOK 04. Dec 2014
BATS-CHIXE B2HO Ordinary Shares BATS 'Chi-X Europe' GB NOK 04. Dec 2014
Number of employees
Current staff
Staff numbers
2,284
B2Holding employees.
Industry
Consumer Finance
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/01/30 03:20
End of day share price update: 2018/11/02 00:00
Last estimates confirmation: 2019/01/16
Last earnings filing: 2018/11/28
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


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.