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Kudelski

OTCPK:KDCX.F
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KDCX.F
OTCPK
CHF375M
Market Cap
  1. Home
  2. US
  3. Tech
Company description

Kudelski SA provides digital security and convergent media solutions for the delivery of digital and interactive content worldwide. The last earnings update was 111 days ago. More info.


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KDCX.F Share Price and Events
7 Day Returns
0%
OTCPK:KDCX.F
3.1%
US Electronic
3%
US Market
1 Year Returns
-
OTCPK:KDCX.F
-5%
US Electronic
3.4%
US Market
KDCX.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kudelski (KDCX.F) 0% 0% - - - -
US Electronic 3.1% -0.1% -10.4% -5% 44.5% 61.9%
US Market 3% 1% -6.2% 3.4% 8.8% -53.5%
1 Year Return vs Industry and Market
  • No trading data on KDCX.F.
  • No trading data on KDCX.F.
Price Volatility
KDCX.F
Industry
5yr Volatility vs Market

Value

 Is Kudelski 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 Kudelski 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 Kudelski.

OTCPK:KDCX.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 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 17.1%
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:KDCX.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 3%
Equity Risk Premium S&P Global 7.1%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.06
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.059 (1 + (1- 18%) (131.3%))
2.2
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.95% + (2 * 7.05%)
17.05%

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

The calculations below outline how an intrinsic value for Kudelski 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:KDCX.F DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (USD, Millions) 254.02 326.52 335.58 344.90 354.48
Source Analyst x1 Analyst x1 Est @ 2.78% Est @ 2.78% Est @ 2.78%
Present Value
Discounted (@ 17.05%)
217.02 238.32 209.26 183.74 161.34
Present value of next 5 years cash flows $1,009.68
OTCPK:KDCX.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= $354.48 × (1 + 2.95%) ÷ (17.05% – 2.95%)
$2,588.20
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $2,588.20 ÷ (1 + 17.05%)5
$1,177.99
OTCPK:KDCX.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $1,009.68 + $1,177.99
$2,187.67
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,187.67 / 54.53
$40.12
OTCPK:KDCX.F Discount to Share Price
Calculation Result
Exchange Rate USD/CHF
(Reporting currency to currency of SWX:KUD)
0.997
Value per Share
(CHF)
= Value per Share in USD x Exchange Rate (USD/CHF)
= $40.12 x 0.997
CHF40
Non-primary Listing Adjustment Factor 1 share in OTCPK:KDCX.F represents 1.37845x of SWX:KUD
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.37845x
Value per Share
(Listing Adjusted, USD)
= Value per Share (CHF) x Listing Adjustment Factor
= CHF 40.00 x 1.37845
$55.14
Value per share (USD) From above. $55.14
Current discount Discount to share price of $9.47
= -1 x ($9.47 - $55.14) / $55.14
82.8%

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

Current Discount
Amount off the current price Kudelski is available for.
Intrinsic value
>50%
Share price is $9.47 vs Future cash flow value of $55.14
Current Discount Checks
For Kudelski to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Kudelski's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Kudelski'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 Kudelski's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kudelski's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:KDCX.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in USD $-0.04
SWX:KUD Share Price ** SWX (2018-09-06) in CHF CHF6.87
SWX:KUD Share Price converted to USD reporting currency Exchange rate (CHF/ USD) 1.003 $6.89
United States of America Electronic Industry PE Ratio Median Figure of 85 Publicly-Listed Electronic Companies 20.75x
United States of America Market PE Ratio Median Figure of 2,991 Publicly-Listed Companies 18.04x

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

** Primary Listing of Kudelski.

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

= SWX:KUD Share Price ÷ EPS (both in USD)

= 6.89 ÷ -0.04

-190.58x

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

  • Kudelski is loss making, we can't compare its value to the US Electronic industry average.
  • Kudelski is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Kudelski's expected growth come at a high price?
Raw Data
OTCPK:KDCX.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -190.58x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
88.1%per year
United States of America Electronic Industry PEG Ratio Median Figure of 54 Publicly-Listed Electronic Companies 1.11x
United States of America Market PEG Ratio Median Figure of 2,102 Publicly-Listed Companies 1.29x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Kudelski, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Kudelski's assets?
Raw Data
OTCPK:KDCX.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in USD $8.76
SWX:KUD Share Price * SWX (2018-09-06) in CHF CHF6.87
SWX:KUD Share Price converted to USD reporting currency Exchange rate (CHF/ USD) 1.003 $6.89
United States of America Electronic Industry PB Ratio Median Figure of 149 Publicly-Listed Electronic Companies 2.12x
United States of America Market PB Ratio Median Figure of 5,007 Publicly-Listed Companies 1.86x
OTCPK:KDCX.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SWX:KUD Share Price ÷ Book Value per Share (both in USD)

= 6.89 ÷ 8.76

0.79x

* Primary Listing of Kudelski.

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

  • Kudelski is good value based on assets compared to the US Electronic industry average.
X
Value checks
We assess Kudelski'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 Electronic 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 Electronic industry average (and greater than 0)? (1 check)
  5. Kudelski has a total score of 3/6, 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.

Future Performance

 How is Kudelski 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
88.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kudelski expected to grow at an attractive rate?
  • Kudelski's earnings growth is expected to exceed the low risk savings rate of 3%.
Growth vs Market Checks
  • Kudelski's earnings growth is expected to exceed the United States of America market average.
  • Kudelski's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:KDCX.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:KDCX.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 88.1%
OTCPK:KDCX.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 3.9%
United States of America Electronic Industry Earnings Growth Rate Market Cap Weighted Average 22.8%
United States of America Electronic Industry Revenue Growth Rate Market Cap Weighted Average 6.1%
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:KDCX.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:KDCX.F Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 1,065 248 39 5
2019-12-31 1,019 202 33 5
2018-12-31 974 120 -13 5
OTCPK:KDCX.F Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-06-30 1,000 -48 -33
2018-03-31 1,025 -51 -17
2017-12-31 1,050 -54 -2
2017-06-30 992 55 58
2017-03-31 988 89 71
2016-12-31 984 124 84
2016-06-30 1,014 93 56
2016-03-31 1,002 103 51
2015-12-31 938 106 44
2015-09-30 941 92 40

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Kudelski's earnings are expected to grow significantly at over 20% yearly.
  • Kudelski's revenue is expected to grow by 3.9% 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:KDCX.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Kudelski Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:KDCX.F Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.71 0.84 0.55 4.00
2019-12-31 0.60 0.67 0.52 4.00
2018-12-31 -0.23 -0.23 -0.24 2.00
OTCPK:KDCX.F Past Financials Data
Date (Data in USD Millions) EPS *
2018-06-30
2018-03-31
2017-12-31 -0.04
2017-06-30
2017-03-31
2016-12-31 1.54
2016-06-30
2016-03-31
2015-12-31 0.82
2015-09-30 0.73

*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.
  • Kudelski is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Kudelski'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.
Kudelski has a total score of 3/6, 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.

Past Performance

  How has Kudelski 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 Kudelski's growth in the last year to its industry (Electronic).
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.
  • Kudelski does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Kudelski's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Kudelski's 1-year growth to the US Electronic industry average as it is not currently profitable.
Earnings and Revenue History
Kudelski'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 Kudelski Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:KDCX.F Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 1,000.16 -32.64 476.79
2018-03-31 1,024.91 -17.30 470.17
2017-12-31 1,049.66 -1.97 463.54
2017-06-30 992.41 58.37 417.19
2017-03-31 988.39 71.06 411.11
2016-12-31 984.38 83.75 405.02
2016-06-30 1,014.26 55.71 424.16
2016-03-31 1,001.92 51.36 419.40
2015-12-31 938.46 44.37 393.46
2015-09-30 941.45 39.71 399.76
2015-06-30 960.04 35.37 413.04
2015-03-31 912.11 39.43 395.87
2014-12-31 877.19 43.69 384.14
2014-09-30 901.00 45.89 388.48
2014-06-30 950.83 50.18 406.95
2014-03-31 941.45 46.80 401.97
2013-12-31 921.86 42.92 392.64
2013-09-30 916.31 41.02 389.87
2013-06-30 883.84 38.03 375.67
2013-03-31 884.82 26.97 381.35
2012-12-31 921.92 16.64 402.76
2012-09-30 906.44 0.13 393.07
2012-06-30 909.52 -16.20 391.24
2012-03-31 961.15 -18.54 413.59
2011-12-31 934.91 -19.39 402.43

*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.
  • It is difficult to establish if Kudelski has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Kudelski has efficiently used its assets last year compared to the US Electronic industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Kudelski improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Kudelski'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 Electronic 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.
Kudelski has a total score of 0/6, 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.

Health

 How is Kudelski'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 Kudelski's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kudelski is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Kudelski's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Kudelski'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 1.1x 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 Kudelski Company Filings, last reported 5 months ago.

OTCPK:KDCX.F Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 447.41 493.32 120.69
2018-03-31 447.41 493.32 120.69
2017-12-31 498.33 424.66 71.91
2017-06-30 485.93 419.64 97.58
2017-03-31 485.93 419.64 97.58
2016-12-31 491.62 381.78 174.44
2016-06-30 463.74 334.99 89.69
2016-03-31 471.85 340.86 91.26
2015-12-31 446.47 333.73 136.67
2015-09-30 457.79 342.19 140.14
2015-06-30 448.09 384.51 138.32
2015-03-31 432.35 371.00 133.46
2014-12-31 456.47 333.23 93.00
2014-09-30 457.36 346.15 96.60
2014-06-30 475.21 417.08 123.11
2014-03-31 476.88 418.55 123.54
2013-12-31 501.40 206.01 112.60
2013-09-30 493.70 202.85 110.87
2013-06-30 452.04 222.80 86.18
2013-03-31 450.50 222.04 85.89
2012-12-31 457.01 294.79 120.25
2012-09-30 465.17 286.79 116.99
2012-06-30 441.18 539.58 302.63
2012-03-31 463.03 566.30 317.61
2011-12-31 467.69 550.36 309.82
  • Kudelski's level of debt (110.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (49.2% vs 110.3% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Kudelski is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Kudelski'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. Kudelski has a total score of 2/6, 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.

Dividends

 What is Kudelski'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
1.44%
Current annual income from Kudelski dividends. Estimated to be 2.1% next year.
If you bought $2,000 of Kudelski shares you are expected to receive $29 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?
  • Kudelski's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.37%).
  • Kudelski's dividend is below the markets top 25% of dividend payers in United States of America (3.54%).
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:KDCX.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 Electronic Industry Average Dividend Yield Market Cap Weighted Average of 38 Stocks 1.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1981 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:KDCX.F Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.20 5.00
2019-12-31 0.11 4.00
2018-12-31 0.11 4.00
OTCPK:KDCX.F Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-03-15 0.099 1.157
2017-02-16 0.345 2.559
2016-02-18 0.339 1.969
2015-02-19 0.291 2.244
2014-02-20 0.295 2.294
2014-01-15 0.329 2.201
2013-02-28 0.204 1.620
2012-02-23 0.101 1.197
2011-03-01 0.314 2.943
2011-02-24 0.322 1.671
2010-03-01 0.258 1.141
2010-01-04 0.277 1.113
2009-02-27 0.126 0.833
2008-12-05 0.245 2.720

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Kudelski's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.7x coverage).
X
Income/ dividend checks
We assess Kudelski'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 Kudelski afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Kudelski has a total score of 2/6, see the detailed checks below.


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

Management

 What is the CEO of Kudelski'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
André Kudelski
COMPENSATION $4,404,031
AGE 58
TENURE AS CEO 27.9 years
CEO Bio

Mr. André Kudelski serves as Member of Supervisory Board at Publicis Groupe S.A. since May 25, 2016. Mr. Kudelski began his career in 1984 within the Kudelski SA company as an R&D engineer. In 1989, he became Director of Nagravision SA, in 1991 as Chair and Chief Executive Officer of the Kudelski Group. He is a Director of HSBC Private Banking Holdings (Switzerland) SA and first Vice- Chairman/Premier Vice-President of the Board of Directors at Geneva International Airport. He is Chairman of the Board of Directors of lnnosuisse. He was a Director of Nestlé, Dassault Systèmes and Edipresse SA. He has received numerous distinctions, including the title of “Global Leader for Tomorrow” from the World Economic Forum in 1995 and an Emmy® Award in 1996 from the National Academy of Arts and Sciences, recognizing his work in controlling access to television. He is Chair and Deputy Director of Kudelski SA and Nagra Plus SA (Switzerland). He is Chair of the Board of Directors of Conax AS (Norway), SmarDTV SA (Switzerland), Innosuisse (public law) (Switzerland) and Restaurant de l’Hôtel de Ville Benoît Violier SA (Switzerland). He is Co-Chair of NagraStar LLC (United States). He is Chair and Chief Executive Officer of Nagra USA, Inc. (United States), Kudelski Corporate, Inc. (United States), Kudelski Security Holdings, Inc. (United States) and Open TV, Inc. (United States). He Executive Chair of Kudelski Security, Inc. (United State). He is Vice-Chair of Geneva International Airport (public law) (Switzerland) and Swiss-American Chamber of Commerce (association) (Switzerland). He is Member of the Supervisory Board of Skidata AG (Austria). He is Director of RSH Quality Food Concept SA (Switzerland), Automotive Trade Finance SA (Switzerland), Sunset Music SA (Switzerland) and Greater Phoenix Economic Council (GPEC). He is Member of the Strategy Advisory Board of Foundation of the École Polytechnique Fédérale de Lausanne (Switzerland). He was Director of HSBC Private Banking Holdings SA (Switzerland) until December 31, 2017. He was Director of Nestlé SA until April 2013. He was Director of Dassault Systèmes SA until May 2013. He was Director at Edipresse SA until September 2013.

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

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

15.8
Average Tenure
58
Average Age
  • The average tenure for the Kudelski management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

André Kudelski

TITLE
Chairman
COMPENSATION
$4M
AGE
58
TENURE
27.9 yrs

Mauro Saladini

TITLE
CFO, EVP & Member of Executive Board
AGE
52
TENURE
15.8 yrs

Pierre Roy

TITLE
Chief Marketing Officer of Digital TV
AGE
66

Morten Solbakken

TITLE
COO of Digital TV
AGE
48
TENURE
0.9 yrs

Christophe Nicolas

TITLE
Chief Information Officer
TENURE
3.2 yrs

Nicolas Gœtschmann

TITLE
Director of Group Administration & Corporate Secretary
AGE
58
TENURE
15.8 yrs

Santino Rumasuglia

TITLE
VP & Head of Investor Relations

Mark Beariault

TITLE
General Counsel
AGE
47
TENURE
7.7 yrs

John Burke

TITLE
Head of Group Human Resources & Senior VP
AGE
65

Charles Egli

TITLE
Executive VP & CEO of Nagra Public Access
AGE
71
TENURE
15.9 yrs
Board of Directors Tenure

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

15.6
Average Tenure
61.5
Average Age
  • The average tenure for the Kudelski board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

André Kudelski

TITLE
Chairman
COMPENSATION
$4M
AGE
58
TENURE
27.9 yrs

Claude Smadja

TITLE
Vice-Chairman & Lead Director
COMPENSATION
$136K
AGE
73
TENURE
16.7 yrs

Patrick Foetisch

TITLE
Non Executive Director
COMPENSATION
$207K
AGE
85
TENURE
26.9 yrs

Pierre Lescure

TITLE
Non Executive Director
COMPENSATION
$126K
AGE
73
TENURE
14.6 yrs

Laurent Dassault

TITLE
Non-Executive Director
COMPENSATION
$43K
AGE
65
TENURE
23.9 yrs

Marguerite Kudelski

TITLE
Non-Executive Director
COMPENSATION
$53K
AGE
53
TENURE
12.6 yrs

Alexandre Zeller

TITLE
Non-Executive Director
COMPENSATION
$117K
AGE
57
TENURE
11.9 yrs

Ross Alec

TITLE
Non-Executive Director
COMPENSATION
$53K
AGE
47
TENURE
4.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Kudelski'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. Kudelski 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.

News

External News
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Simply Wall St News

Company Info

Map
Description

Kudelski SA provides digital security and convergent media solutions for the delivery of digital and interactive content worldwide. It operates through Integrated Digital Television and Public Access segments. The Integrated Digital Television segment offers end-to-end integrated solutions, including open conditional access solutions allowing digital TV operators and content providers to operate various value-added pay TV services on a secure platform, and middleware software solutions for set-top boxes and other consumer devices. The Public Access segment provides access control systems and ticketing services for ski lifts, car parks, stadiums, concert halls, and other events. The company also offers cyber and media security solutions to enterprises and public sector institutions; finance services; intellectual property consulting services; research and development services; and watermarking solutions, as well as operates as a travel agency. In addition, it offers smartcards and digital TV sales and support services. Kudelski SA was founded in 1951 and is headquartered in Cheseaux-sur-Lausanne, Switzerland.

Details
Name: Kudelski SA
KDCX.F
Exchange: OTCPK
Founded: 1951
CHF375,710,442
54,531,609
Website: http://www.nagra.com
Address: Kudelski SA
22-24, Route de Genève,
PO Box 134,
Cheseaux-sur-Lausanne,
Vaud, 1033,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX KUD Bearer Shares SIX Swiss Exchange CH CHF 29. Jul 1998
OTCPK KDCX.F Bearer Shares Pink Sheets LLC US USD 29. Jul 1998
DB KUD Bearer Shares Deutsche Boerse AG DE EUR 29. Jul 1998
LSE 0QNQ Bearer Shares London Stock Exchange GB CHF 29. Jul 1998
BATS-CHIXE KUDZ Bearer Shares BATS 'Chi-X Europe' GB CHF 29. Jul 1998
Number of employees
Current staff
Staff numbers
3,908
Kudelski employees.
Industry
Electronic Equipment and Instruments
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/12/04 21:25
End of day share price update: 2018/09/06 00:00
Last estimates confirmation: 2018/11/19
Last earnings filing: 2018/08/15
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.