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Chocoladefabriken Lindt & Sprüngli

OTCPK:COCX.F
Snowflake Description

Excellent balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
COCX.F
OTCPK
CHF18B
Market Cap
  1. Home
  2. US
  3. Food, Beverage & Tobacco
Company description

Chocoladefabriken Lindt & Sprüngli AG, together with its subsidiaries, develops, produces, and sells chocolate products worldwide. The last earnings update was 118 days ago. More info.


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COCX.F Share Price and Events
7 Day Returns
0%
OTCPK:COCX.F
-1.5%
US Food
0.7%
US Market
1 Year Returns
-
OTCPK:COCX.F
-2%
US Food
10.1%
US Market
COCX.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Chocoladefabriken Lindt & Sprüngli (COCX.F) 0% 0% - - - -
US Food -1.5% -0.7% -1.3% -2% 6.8% 38.3%
US Market 0.7% -0.2% -4.4% 10.1% 51.7% 95%
1 Year Return vs Industry and Market
  • No trading data on COCX.F.
  • No trading data on COCX.F.
Price Volatility
COCX.F
Industry
5yr Volatility vs Market

COCX.F Value

 Is Chocoladefabriken Lindt & Sprüngli 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 Chocoladefabriken Lindt & Sprüngli 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 Chocoladefabriken Lindt & Sprüngli.

OTCPK:COCX.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 3%

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:COCX.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 3%
Equity Risk Premium S&P Global 7.1%
Food Unlevered Beta Simply Wall St/ S&P Global 0.49
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.493 (1 + (1- 18%) (5.44%))
0.515
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.95% + (0.8 * 7.05%)
8.59%

Discounted Cash Flow Calculation for OTCPK:COCX.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Chocoladefabriken Lindt & Sprüngli is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:COCX.F DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (CHF, Millions) 386.28 433.26 507.00 546.00 591.23
Source Analyst x10 Analyst x8 Analyst x1 Analyst x1 Est @ 8.28%
Present Value
Discounted (@ 8.59%)
355.72 367.43 395.95 392.68 391.57
Present value of next 5 years cash flows CHF1,903.34
OTCPK:COCX.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= CHF591.23 × (1 + 2.95%) ÷ (8.59% – 2.95%)
CHF10,792.07
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= CHF10,792.07 ÷ (1 + 8.59%)5
CHF7,147.52
OTCPK:COCX.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= CHF1,903.34 + CHF7,147.52
CHF9,050.87
Equity Value per Share
(CHF)
= Total value / Shares Outstanding
= CHF9,050.87 / 0.24
CHF38978.79
OTCPK:COCX.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:COCX.F represents 1.03889x of SWX:LISN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.03889x
Value per Share
(Listing Adjusted, USD)
= Value per Share (CHF) x Listing Adjustment Factor
= CHF 37,519.82 x 1.03889
$38,978.79
Value per share (USD) From above. $38,978.79
Current discount Discount to share price of $84,150.00
= -1 x ($84,150.00 - $38,978.79) / $38,978.79
-115.9%

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

  • The current share price of Chocoladefabriken Lindt & Sprüngli 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 Chocoladefabriken Lindt & Sprüngli's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Chocoladefabriken Lindt & Sprüngli's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:COCX.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in CHF CHF1,922.27
SWX:LISN Share Price ** SWX (2018-08-24) in CHF CHF81000
United States of America Food Industry PE Ratio Median Figure of 47 Publicly-Listed Food Companies 19.06x
United States of America Market PE Ratio Median Figure of 2,983 Publicly-Listed Companies 18.09x

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

** Primary Listing of Chocoladefabriken Lindt & Sprüngli.

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

= SWX:LISN Share Price ÷ EPS (both in CHF)

= 81000 ÷ 1,922.27

42.14x

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

  • Chocoladefabriken Lindt & Sprüngli is overvalued based on earnings compared to the US Food industry average.
  • Chocoladefabriken Lindt & Sprüngli is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Chocoladefabriken Lindt & Sprüngli's expected growth come at a high price?
Raw Data
OTCPK:COCX.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 42.14x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
7.7%per year
United States of America Food Industry PEG Ratio Median Figure of 34 Publicly-Listed Food Companies 1.12x
United States of America Market PEG Ratio Median Figure of 2,097 Publicly-Listed Companies 1.24x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 42.14x ÷ 7.7%

5.46x

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

  • Chocoladefabriken Lindt & Sprüngli is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Chocoladefabriken Lindt & Sprüngli's assets?
Raw Data
OTCPK:COCX.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in CHF CHF17,246.20
SWX:LISN Share Price * SWX (2018-08-24) in CHF CHF81000
United States of America Food Industry PB Ratio Median Figure of 66 Publicly-Listed Food Companies 1.88x
United States of America Market PB Ratio Median Figure of 4,987 Publicly-Listed Companies 1.87x
OTCPK:COCX.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SWX:LISN Share Price ÷ Book Value per Share (both in CHF)

= 81000 ÷ 17,246.20

4.7x

* Primary Listing of Chocoladefabriken Lindt & Sprüngli.

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

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

COCX.F Future Performance

 How is Chocoladefabriken Lindt & Sprüngli expected to perform in the next 1 to 3 years based on estimates from 13 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
7.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Chocoladefabriken Lindt & Sprüngli expected to grow at an attractive rate?
  • Chocoladefabriken Lindt & Sprüngli's earnings growth is expected to exceed the low risk savings rate of 3%.
Growth vs Market Checks
  • Chocoladefabriken Lindt & Sprüngli's earnings growth is positive but not above the United States of America market average.
  • Chocoladefabriken Lindt & Sprüngli's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:COCX.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:COCX.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 7.7%
OTCPK:COCX.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 5.5%
United States of America Food Industry Earnings Growth Rate Market Cap Weighted Average 3.8%
United States of America Food Industry Revenue Growth Rate Market Cap Weighted Average 2.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
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:COCX.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 13 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:COCX.F Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31
2021-12-31 5,182 610 2
2020-12-31 4,828 742 568 11
2019-12-31 4,570 680 521 13
2018-12-31 4,340 650 487 13
OTCPK:COCX.F Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2018-06-30 4,221 581 460
2018-03-31 4,161 586 456
2017-12-31 4,101 591 451
2017-09-30 4,031 607 437
2017-06-30 3,962 622 423
2017-03-31 3,938 569 421
2016-12-31 3,914 515 420
2016-09-30 3,835 467 404
2016-06-30 3,756 418 388
2016-03-31 3,711 453 384
2015-12-31 3,665 489 380
2015-09-30 3,635 467 366

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Chocoladefabriken Lindt & Sprüngli's earnings are expected to grow by 7.7% yearly, however this is not considered high growth (20% yearly).
  • Chocoladefabriken Lindt & Sprüngli's revenue is expected to grow by 5.5% 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:COCX.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 13 Analyst Estimates (S&P Global) See Below

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

OTCPK:COCX.F Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31 2,459.28 2,484.48 2,442.83 4.00
2019-12-31 2,261.43 2,280.30 2,231.55 5.00
2018-12-31 2,067.38 2,088.19 2,042.00 5.00
OTCPK:COCX.F Past Financials Data
Date (Data in CHF Millions) EPS *
2018-06-30 1,922.27
2018-03-31 1,907.45
2017-12-31 1,892.54
2017-09-30 1,845.48
2017-06-30 1,797.83
2017-03-31 1,794.58
2016-12-31 1,791.31
2016-09-30 1,729.29
2016-06-30 1,666.91
2016-03-31 1,656.35
2015-12-31 1,645.69
2015-09-30 1,589.76

*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.
  • Chocoladefabriken Lindt & Sprüngli is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Chocoladefabriken Lindt & Sprüngli'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.
Chocoladefabriken Lindt & Sprüngli has a total score of 1/6, 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.

COCX.F Past Performance

  How has Chocoladefabriken Lindt & Sprüngli 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 Chocoladefabriken Lindt & Sprüngli's growth in the last year to its industry (Food).
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.
  • Chocoladefabriken Lindt & Sprüngli's year on year earnings growth rate has been positive over the past 5 years.
  • Chocoladefabriken Lindt & Sprüngli's 1-year earnings growth is less than its 5-year average (8.9% vs 10.3%)
  • Chocoladefabriken Lindt & Sprüngli's earnings growth has not exceeded the US Food industry average in the past year (8.9% vs 30.9%).
Earnings and Revenue History
Chocoladefabriken Lindt & Sprüngli'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 Chocoladefabriken Lindt & Sprüngli Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:COCX.F Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 4,221.20 460.40 1,981.50
2018-03-31 4,160.90 455.55 1,948.95
2017-12-31 4,100.60 450.70 1,916.40
2017-09-30 4,031.45 436.75 1,888.70
2017-06-30 3,962.30 422.80 1,861.00
2017-03-31 3,938.15 421.25 1,844.45
2016-12-31 3,914.00 419.70 1,827.90
2016-09-30 3,835.10 404.00 1,803.30
2016-06-30 3,756.20 388.30 1,778.70
2016-03-31 3,710.55 384.35 1,749.05
2015-12-31 3,664.90 380.40 1,719.40
2015-09-30 3,635.20 365.75 1,703.40
2015-06-30 3,605.50 351.10 1,687.40
2015-03-31 3,501.20 346.75 1,637.55
2014-12-31 3,396.90 342.40 1,587.70
2014-09-30 3,180.50 326.20 1,525.25
2014-06-30 2,964.10 310.00 1,462.80
2014-03-31 2,928.30 306.50 1,456.20
2013-12-31 2,892.50 303.00 1,449.60
2013-09-30 2,835.45 280.95 1,407.10
2013-06-30 2,778.40 258.90 1,364.60
2013-03-31 2,728.90 251.90 1,336.05
2012-12-31 2,679.40 244.90 1,307.50
2012-09-30 2,600.70 259.65 1,240.30
2012-06-30 2,522.00 249.20 1,202.90
2012-03-31 2,508.80 247.85 1,193.75
2011-12-31 2,495.60 246.50 1,184.60

*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.
  • Chocoladefabriken Lindt & Sprüngli has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Chocoladefabriken Lindt & Sprüngli used its assets less efficiently than the US Food industry average last year based on Return on Assets.
  • Chocoladefabriken Lindt & Sprüngli's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Chocoladefabriken Lindt & Sprüngli'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 Food 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.
Chocoladefabriken Lindt & Sprüngli has a total score of 1/6, 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.

COCX.F Health

 How is Chocoladefabriken Lindt & Sprüngli'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 Chocoladefabriken Lindt & Sprüngli's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Chocoladefabriken Lindt & Sprüngli is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Chocoladefabriken Lindt & Sprüngli's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Chocoladefabriken Lindt & Sprüngli'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 2.3x 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 Chocoladefabriken Lindt & Sprüngli Company Filings, last reported 4 months ago.

OTCPK:COCX.F Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 4,168.30 1,003.70 801.00
2018-03-31 4,168.30 1,003.70 801.00
2017-12-31 4,195.00 1,007.40 853.20
2017-09-30 4,195.00 1,007.40 853.20
2017-06-30 3,696.80 1,098.30 759.90
2017-03-31 3,696.80 1,098.30 759.90
2016-12-31 3,674.00 1,065.30 592.40
2016-09-30 3,674.00 1,065.30 592.40
2016-06-30 3,291.20 1,186.50 481.10
2016-03-31 3,291.20 1,186.50 481.10
2015-12-31 3,489.70 1,086.00 404.50
2015-09-30 3,489.70 1,086.00 404.50
2015-06-30 2,818.60 1,329.20 574.30
2015-03-31 2,818.60 1,329.20 574.30
2014-12-31 3,001.70 1,016.20 172.00
2014-09-30 3,001.70 1,016.20 172.00
2014-06-30 2,631.10 3.00 647.20
2014-03-31 2,631.10 3.00 647.20
2013-12-31 2,634.70 7.00 730.50
2013-09-30 2,634.70 7.00 730.50
2013-06-30 2,267.50 25.10 653.10
2013-03-31 2,267.50 25.10 653.10
2012-12-31 1,694.40 12.00 555.00
2012-09-30 1,727.10 12.00 555.00
2012-06-30 1,511.10 21.90 437.40
2012-03-31 1,511.10 21.90 437.40
2011-12-31 1,619.10 9.50 495.90
  • Chocoladefabriken Lindt & Sprüngli's level of debt (24.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (1.1% vs 24.1% today).
  • Debt is well covered by operating cash flow (57.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 36.4x coverage).
X
Financial health checks
We assess Chocoladefabriken Lindt & Sprüngli'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. Chocoladefabriken Lindt & Sprüngli has a total score of 5/6, 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.

COCX.F Dividends

 What is Chocoladefabriken Lindt & Sprüngli'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
1.15%
Current annual income from Chocoladefabriken Lindt & Sprüngli dividends. Estimated to be 1.35% next year.
If you bought $2,000 of Chocoladefabriken Lindt & Sprüngli shares you are expected to receive $23 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?
  • Chocoladefabriken Lindt & Sprüngli's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.37%).
  • Chocoladefabriken Lindt & Sprüngli's dividend is below the markets top 25% of dividend payers in United States of America (3.51%).
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:COCX.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 13 Analyst Estimates (S&P Global) See Below
United States of America Food Industry Average Dividend Yield Market Cap Weighted Average of 34 Stocks 2.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1979 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.5%

Industry and Market average data is calculated daily.

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

OTCPK:COCX.F Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31 1,194.18 8.00
2019-12-31 1,099.35 9.00
2018-12-31 1,004.71 9.00
OTCPK:COCX.F Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2018-03-06 930.000 1.214
2018-01-15 930.000 1.360
2017-04-24 880.000 1.295
2016-03-08 800.000 1.203
2015-03-10 725.000 1.103
2014-03-11 650.000 1.168
2014-01-15 650.000 1.301
2013-03-15 575.000 1.332
2012-03-01 500.000 1.429
2012-01-16 500.000 1.565
2011-03-14 450.000 1.457
2009-03-17 360.000 1.399
2008-11-20 330.000 1.421

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Chocoladefabriken Lindt & Sprüngli's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Chocoladefabriken Lindt & Sprüngli's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Chocoladefabriken Lindt & Sprüngli afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Chocoladefabriken Lindt & Sprüngli has a total score of 4/6, see the detailed checks below.


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

COCX.F Management

 What is the CEO of Chocoladefabriken Lindt & Sprüngli'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
Dieter Weisskopf
COMPENSATION CHF3,190,000
TENURE AS CEO 2.1 years
CEO Bio

Dr. Dieter Weisskopf, Ph.D. has been the Chief Executive Officer of Chocoladefabriken Lindt & Spruengli AG since October 1, 2016 and serves as its Member of Group Management. Dr. Weisskopf served as the Chief Financial Officer at Chocoladefabriken Lindt & Spruengli AG until January 2017. Dr. Weisskopf is responsible for manufacturing. Dr. Weisskopf served as the Head of Administration, Finance, Purchasing & Manufacturing of Chocoladefabriken Lindt & Spruengli AG since 1995. He served as Head of Administration, Finance, Purchasing at Chocoladefabriken Lindt & Spruengli AG since 1995. At Jacobs Suchard and at Klaus Jacobs Holding, Dr. Weisskopf held executive management positions in the Financial Sector, last served as Chief Financial Officer, in Canada and Switzerland. In 1995, he started his career at Swiss Union Bank and he gained additional experience in the Banking Sector in Mexico and Brazil, later changing to the food industry, namely the Jacobs Suchard Group. Dr. Weisskopf received a Ph.D. in Economics and Business Administration.

CEO Compensation
  • Insufficient data for Dieter to compare compensation growth.
  • Dieter's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure of the Chocoladefabriken Lindt & Sprüngli management team in years:

3.7
Average Tenure
  • The tenure for the Chocoladefabriken Lindt & Sprüngli management team is about average.
Management Team

Dieter Weisskopf

TITLE
CEO & Member of Group Management
COMPENSATION
CHF3M
TENURE
2.1 yrs

Martin Hug

TITLE
Group CFO & Member of Group Management
TENURE
1.8 yrs

Rolf Fallegger

TITLE
Member of the Group Management
TENURE
4.8 yrs

Andreas Pfluger

TITLE
Member of the Group Management
TENURE
5.8 yrs

Adalbert Lechner

TITLE
Member of Group Management
TENURE
7.8 yrs

Alain Germiquet

TITLE
Member of Group Management
TENURE
1.8 yrs

Guido Steiner

TITLE
Member of Group Management

Daniel Studer

TITLE
Head of U.S. Operations
TENURE
2.6 yrs

Rudi Blatter

TITLE
Chief Executive Officer of Lindt Canada
TENURE
23.8 yrs

Stephen Loane

TITLE
Chief Executive Officer of Lindt Australia
Board of Directors Tenure

Average tenure and age of the Chocoladefabriken Lindt & Sprüngli board of directors in years:

16.2
Average Tenure
68
Average Age
  • The average tenure for the Chocoladefabriken Lindt & Sprüngli board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Ernst Tanner

TITLE
Executive Chairman of the Board of Directors
COMPENSATION
CHF2M
AGE
72
TENURE
24.8 yrs

Rudolf Sprüngli

TITLE
Non-Executive Director
COMPENSATION
CHF159K
TENURE
30.8 yrs

Thomas Rinderknecht

TITLE
Non-Executive Director
COMPENSATION
CHF159K
AGE
64
TENURE
2.6 yrs

Antonio Bulgheroni

TITLE
Non-Executive Director
COMPENSATION
CHF185K
AGE
75
TENURE
22.6 yrs

Elisabeth Gürtler

TITLE
Non-Executive Director
COMPENSATION
CHF157K
AGE
68
TENURE
9.8 yrs

Silvio Denz

TITLE
Director
AGE
62
TENURE
0.5 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 ($) Value ($)
X
Management checks
We assess Chocoladefabriken Lindt & Sprüngli'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. Chocoladefabriken Lindt & Sprüngli 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.

COCX.F News

External News
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Simply Wall St News

COCX.F Company Info

Map
Description

Chocoladefabriken Lindt & Sprüngli AG, together with its subsidiaries, develops, produces, and sells chocolate products worldwide. The company sells its products under the Lindt, Ghirardelli, Russell Stover, Whitman’s, Caffarel, Hofbauer, Küfferle, and Pangburn’s brand names. It serves customers through a network of distributors, as well as in approximately 400 own shops. Chocoladefabriken Lindt & Sprüngli AG was founded in 1845 and is headquartered in Kilchberg, Switzerland.

Details
Name: Chocoladefabriken Lindt & Sprüngli AG
COCX.F
Exchange: OTCPK
Founded: 1845
CHF18,584,200,473
241,229
Website: http://www.lindt-spruengli.com
Address: Chocoladefabriken Lindt & Sprüngli AG
Seestrasse 204,
Kilchberg,
Zurich, 8802,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX LISN Registered Shares SIX Swiss Exchange CH CHF 02. Jan 1992
OTCPK COCX.F Registered Shares Pink Sheets LLC US USD 02. Jan 1992
DB LSPN Registered Shares Deutsche Boerse AG DE EUR 02. Jan 1992
XTRA LSPN Registered Shares XETRA Trading Platform DE EUR 02. Jan 1992
LSE 0QKN Registered Shares London Stock Exchange GB CHF 02. Jan 1992
BATS-CHIXE LISNZ Registered Shares BATS 'Chi-X Europe' GB CHF 02. Jan 1992
SWX LISPE CERT PERP(BLACK ROCK INC)CHF SIX Swiss Exchange CH CHF 12. Mar 2018
SWX LISNE CHF100 SIX Swiss Exchange CH CHF 12. Mar 2018
SWX LISP Participation Certificates SIX Swiss Exchange CH CHF 02. Jan 1992
OTCPK LDSV.F Participation Certificates Pink Sheets LLC US USD 02. Jan 1992
XTRA LSPP Participation Certificates XETRA Trading Platform DE EUR 02. Jan 1992
MUN LSPP Participation Certificates Boerse Muenchen DE EUR 02. Jan 1992
LSE 0QP1 Participation Certificates London Stock Exchange GB CHF 02. Jan 1992
BMV LISP N Participation Certificates Bolsa Mexicana de Valores MX MXN 02. Jan 1992
BATS-CHIXE LISPZ Participation Certificates BATS 'Chi-X Europe' GB CHF 02. Jan 1992
Number of employees
Current staff
Staff numbers
13,168
Chocoladefabriken Lindt & Sprüngli employees.
Industry
Packaged Foods and Meats
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/11/19 21:52
End of day share price update: 2018/08/24 00:00
Last estimates confirmation: 2018/11/07
Last earnings filing: 2018/07/24
Last earnings reported: 2018/06/30
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.