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Smartphoto Group

ENXTBR:SMAR
Snowflake Description

Flawless balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SMAR
ENXTBR
€63M
Market Cap
  1. Home
  2. BE
  3. Commercial Services
Company description

Smartphoto Group NV operates in the B2C e-commerce business in Europe. The last earnings update was 98 days ago. More info.


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SMAR Share Price and Events
7 Day Returns
0.3%
ENXTBR:SMAR
-1.3%
Europe Commercial Services
-0.6%
BE Market
1 Year Returns
32.2%
ENXTBR:SMAR
9.2%
Europe Commercial Services
9.3%
BE Market
SMAR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Smartphoto Group (SMAR) 0.3% 5.3% 15.3% 32.2% -1.9% 464.3%
Europe Commercial Services -1.3% -0.1% 5.5% 9.2% 5.5% 13%
BE Market -0.6% 0.4% -3.3% 9.3% -6.8% 2.4%
1 Year Return vs Industry and Market
  • SMAR outperformed the Commercial Services industry which returned 9.2% over the past year.
  • SMAR outperformed the Market in Belgium which returned 9.3% over the past year.
Price Volatility
SMAR
Industry
5yr Volatility vs Market

Value

 Is Smartphoto Group 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 Smartphoto Group 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 Smartphoto Group.

ENXTBR:SMAR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.6%
Perpetual Growth Rate 10-Year BE Government Bond Rate 0.7%

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 ENXTBR:SMAR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year BE Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.2%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.66
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.66 (1 + (1- 29%) (5.51%))
0.79
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)
= 0.65% + (0.8 * 6.21%)
5.62%

Discounted Cash Flow Calculation for ENXTBR:SMAR using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Smartphoto Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

ENXTBR:SMAR DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 5.62%)
2020 5.91 Est @ 21.99% 5.60
2021 6.83 Est @ 15.59% 6.13
2022 7.59 Est @ 11.11% 6.45
2023 8.20 Est @ 7.97% 6.59
2024 8.67 Est @ 5.77% 6.60
2025 9.04 Est @ 4.24% 6.51
2026 9.33 Est @ 3.16% 6.36
2027 9.55 Est @ 2.41% 6.17
2028 9.73 Est @ 1.88% 5.95
2029 9.88 Est @ 1.51% 5.72
Present value of next 10 years cash flows €62.00
ENXTBR:SMAR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €9.88 × (1 + 0.65%) ÷ (5.62% – 0.65%)
€200.10
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €200.10 ÷ (1 + 5.62%)10
€115.84
ENXTBR:SMAR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €62.00 + €115.84
€177.84
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €177.84 / 3.93
€45.23
ENXTBR:SMAR Discount to Share Price
Calculation Result
Value per share (EUR) From above. €45.23
Current discount Discount to share price of €15.80
= -1 x (€15.80 - €45.23) / €45.23
65.1%

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

Current Discount
Amount off the current price Smartphoto Group is available for.
Intrinsic value
>50%
Share price is €15.8 vs Future cash flow value of €45.23
Current Discount Checks
For Smartphoto Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Smartphoto Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Smartphoto Group'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 Smartphoto Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Smartphoto Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTBR:SMAR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in EUR €1.11
ENXTBR:SMAR Share Price ** ENXTBR (2019-12-05) in EUR €15.8
Europe Commercial Services Industry PE Ratio Median Figure of 102 Publicly-Listed Commercial Services Companies 16.99x
Belgium Market PE Ratio Median Figure of 89 Publicly-Listed Companies 16.95x

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

** Primary Listing of Smartphoto Group.

ENXTBR:SMAR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTBR:SMAR Share Price ÷ EPS (both in EUR)

= 15.8 ÷ 1.11

14.23x

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

  • Smartphoto Group is good value based on earnings compared to the Europe Commercial Services industry average.
  • Smartphoto Group is good value based on earnings compared to the Belgium market.
Price based on expected Growth
Does Smartphoto Group's expected growth come at a high price?
Raw Data
ENXTBR:SMAR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.23x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
Not available
Europe Commercial Services Industry PEG Ratio Median Figure of 52 Publicly-Listed Commercial Services Companies 1.4x
Belgium Market PEG Ratio Median Figure of 40 Publicly-Listed Companies 1.52x

*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 Smartphoto Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Smartphoto Group's assets?
Raw Data
ENXTBR:SMAR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in EUR €8.90
ENXTBR:SMAR Share Price * ENXTBR (2019-12-05) in EUR €15.8
Europe Commercial Services Industry PB Ratio Median Figure of 139 Publicly-Listed Commercial Services Companies 1.57x
Belgium Market PB Ratio Median Figure of 113 Publicly-Listed Companies 1.49x
ENXTBR:SMAR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTBR:SMAR Share Price ÷ Book Value per Share (both in EUR)

= 15.8 ÷ 8.90

1.78x

* Primary Listing of Smartphoto Group.

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

  • Smartphoto Group is overvalued based on assets compared to the Europe Commercial Services industry average.
X
Value checks
We assess Smartphoto Group'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 Commercial Services 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 Commercial Services industry average (and greater than 0)? (1 check)
  5. Smartphoto Group 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.

Future Performance

 How is Smartphoto Group expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
5.4%
Expected annual growth in revenue.
Earnings growth vs Low Risk Savings
Is Smartphoto Group expected to grow at an attractive rate?
  • Unable to compare Smartphoto Group's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Smartphoto Group's earnings growth to the Belgium market average as no estimate data is available.
  • Smartphoto Group's revenue growth is expected to exceed the Belgium market average.
Annual Growth Rates Comparison
Raw Data
ENXTBR:SMAR Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTBR:SMAR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 5.4%
Europe Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 15.8%
Europe Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 5%
Belgium Market Earnings Growth Rate Market Cap Weighted Average 7.8%
Belgium Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*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
ENXTBR:SMAR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTBR:SMAR Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 53 1
2019-12-31 50 1
2019-12-05
ENXTBR:SMAR Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-06-30 49 6 4
2019-03-31 48 7 4
2018-12-31 47 7 4
2018-09-30 47 6 5
2018-06-30 46 5 6
2018-03-31 46 5 5
2017-12-31 46 6 5
2017-09-30 46 5 4
2017-06-30 47 4 2
2017-03-31 46 4 2
2016-12-31 45 3 1
2016-09-30 41 3 2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Smartphoto Group is high growth as no earnings estimate data is available.
  • Smartphoto Group's revenue is expected to grow by 5.4% 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
ENXTBR:SMAR 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 1 Analyst Estimates (S&P Global) See Below

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

ENXTBR:SMAR Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31
2019-12-31
2019-12-05
ENXTBR:SMAR Past Financials Data
Date (Data in EUR Millions) EPS *
2019-06-30 1.11
2019-03-31 1.07
2018-12-31 1.03
2018-09-30 1.22
2018-06-30 1.40
2018-03-31 1.37
2017-12-31 1.33
2017-09-30 0.93
2017-06-30 0.56
2017-03-31 0.43
2016-12-31 0.33
2016-09-30 0.45

*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.
  • Unable to establish if Smartphoto Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Smartphoto Group'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Smartphoto Group 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.

Past Performance

  How has Smartphoto Group 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 Smartphoto Group's growth in the last year to its industry (Commercial Services).
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.
  • Smartphoto Group has delivered over 20% year on year earnings growth in the past 5 years.
  • Smartphoto Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Smartphoto Group's 1-year earnings growth is negative, it can't be compared to the Europe Commercial Services industry average.
Earnings and Revenue History
Smartphoto Group'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 Smartphoto Group Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTBR:SMAR Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 48.66 4.38 10.83
2019-03-31 47.87 4.22 10.66
2018-12-31 47.07 4.06 10.49
2018-09-30 46.56 4.85 10.30
2018-06-30 46.04 5.64 10.10
2018-03-31 46.00 5.44 10.16
2017-12-31 45.96 5.23 10.22
2017-09-30 46.36 3.67 10.61
2017-06-30 46.75 2.10 10.99
2017-03-31 45.92 1.71 10.88
2016-12-31 45.09 1.31 10.77
2016-09-30 41.31 1.76 10.08
2016-06-30 37.53 2.21 9.38
2016-03-31 35.88 1.88 8.96
2015-12-31 34.23 1.56 8.55
2015-09-30 33.68 1.27 8.59
2015-06-30 33.12 0.99 8.62
2015-03-31 32.88 0.58 8.90
2014-12-31 32.63 0.17 9.17
2014-09-30 32.65 -0.80 9.45
2014-06-30 32.67 -1.78 9.73
2014-03-31 33.02 -2.03 9.78
2013-12-31 33.37 -2.28 9.82
2013-09-30 38.77 -2.26 10.07
2013-06-30 44.17 -2.24 10.33
2013-03-31 49.59 -1.75 10.53
2012-12-31 55.01 -1.25 10.73

*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.
  • Smartphoto Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Smartphoto Group used its assets more efficiently than the Europe Commercial Services industry average last year based on Return on Assets.
  • Smartphoto Group has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Smartphoto Group'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 Commercial Services 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.
Smartphoto Group 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.

Health

 How is Smartphoto Group'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 Smartphoto Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Smartphoto Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Smartphoto Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Smartphoto Group'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 8.6x 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 Smartphoto Group Company Filings, last reported 5 months ago.

ENXTBR:SMAR Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 34.98 1.00 5.15
2019-03-31 34.98 1.00 5.15
2018-12-31 35.99 1.20 11.72
2018-09-30 35.99 1.20 11.72
2018-06-30 32.69 1.82 3.49
2018-03-31 32.69 1.82 3.49
2017-12-31 31.91 2.00 6.91
2017-09-30 31.91 2.00 6.91
2017-06-30 26.88 2.80 1.15
2017-03-31 26.88 2.80 1.15
2016-12-31 26.52 2.80 3.97
2016-09-30 26.52 2.80 3.97
2016-06-30 24.88 5.80 1.55
2016-03-31 24.88 5.80 1.55
2015-12-31 22.27 3.60 7.06
2015-09-30 22.27 3.60 7.06
2015-06-30 18.16 4.15 2.30
2015-03-31 18.16 4.15 2.30
2014-12-31 19.08 3.89 4.13
2014-09-30 19.08 3.89 4.13
2014-06-30 17.13 6.02 2.20
2014-03-31 17.13 6.02 2.20
2013-12-31 18.93 5.32 4.32
2013-09-30 18.93 5.32 4.32
2013-06-30 18.70 6.78 2.83
2013-03-31 18.70 6.78 2.83
2012-12-31 20.90 6.27 4.76
  • Smartphoto Group's level of debt (2.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (33.9% vs 2.9% today).
  • Debt is well covered by operating cash flow (635.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 94.8x coverage).
X
Financial health checks
We assess Smartphoto Group'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. Smartphoto Group has a total score of 6/6, 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 Smartphoto Group'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
3.16%
Current annual income from Smartphoto Group dividends.
If you bought €2,000 of Smartphoto Group shares you are expected to receive €63 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?
  • Smartphoto Group's pays a higher dividend yield than the bottom 25% of dividend payers in Belgium (2.12%).
  • Smartphoto Group's dividend is below the markets top 25% of dividend payers in Belgium (4.43%).
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
ENXTBR:SMAR 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 1 Analyst Estimates (S&P Global) See Below
Europe Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 75 Stocks 3.1%
Belgium Market Average Dividend Yield Market Cap Weighted Average of 76 Stocks 3.5%
Belgium Minimum Threshold Dividend Yield 10th Percentile 1.1%
Belgium Bottom 25% Dividend Yield 25th Percentile 2.1%
Belgium Top 25% Dividend Yield 75th Percentile 4.4%

Industry and Market average data is calculated daily.

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

ENXTBR:SMAR Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2019-12-31
2019-12-05
ENXTBR:SMAR Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-04-05 0.500 3.633
2019-03-01 0.500 4.132

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

  • It is too early to tell whether Smartphoto Group has stable dividend payments.
  • Smartphoto Group only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Smartphoto Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.2x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Smartphoto Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - 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 Smartphoto Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Smartphoto Group 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 Smartphoto Group'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
Stef de Corte
COMPENSATION €468,000
CEO Bio

Mr. Stef de Corte serves as the Chief Executive Officer and Chief Financial Officer at Smartphoto Group NV. He is Managing Director of Smartphoto Group NV. Mr. de Corte served as Managing Director of the Imaging Group since December 2005. Mr. de Corte has been with Smartphoto Group NV since 1999, initially as Finance & Administration Manager, later Manager of the Wholesale Division which then included 18 labs throughout Europe. He was active in consultancy functions in the field of production, logistics and general management with Bekaert-Stanwick and with ABB Service. Mr. de Corte serves as a Director of Acortis BVBA and has been Director of Smartphoto Group NV since May 12, 2010. He is a Civil Engineer.

CEO Compensation
  • Stef's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Stef's remuneration is about average for companies of similar size in Belgium.
Management Team

Stef de Corte

TITLE
MD, CEO
COMPENSATION
€468K
Board of Directors Tenure

Average tenure of the Smartphoto Group board of directors in years:

6.6
Average Tenure
  • The tenure for the Smartphoto Group board of directors is about average.
Board of Directors

Philippe Vlerick

TITLE
Chairman of the Board
AGE
64

Stef de Corte

TITLE
MD, CEO
COMPENSATION
€468K
TENURE
9.6 yrs

Geert Vanderstappen

TITLE
Non-Executive Director
TENURE
14.1 yrs

Katya Degrieck

TITLE
Independent Non-Executive Director
TENURE
6.6 yrs

Hans Van Rijckeghem

TITLE
Non-Executive Director

Marc Armand Alice André Coucke

TITLE
Non-Executive Director
AGE
54
TENURE
2.6 yrs

Alexandra Leunen

TITLE
Non-Executive Director
TENURE
2.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Smartphoto Group'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. Smartphoto Group 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

Simply Wall St News

What Kind Of Shareholders Own Smartphoto Group NV (EBR:SMAR)?

Smartphoto Group is a smaller company with a market capitalization of €51m, so it may still be flying under the radar of many institutional investors. … See our latest analysis for Smartphoto Group ENXTBR:SMAR Ownership Summary, August 26th 2019 What Does The Institutional Ownership Tell Us About Smartphoto Group? … We can see that Smartphoto Group does have institutional investors; and they hold 7.1% of the stock.

Simply Wall St -

Why We Think Smartphoto Group NV (EBR:SMAR) Could Be Worth Looking At

In the case of Smartphoto Group NV (EBR:SMAR), there's is a company that has been able to sustain great financial health, trading at an attractive share price. … SMAR's share price is trading at below its true value, meaning that the market sentiment for the stock is currently bearish. … Also, relative to the rest of its peers with similar levels of earnings, SMAR's share price is trading below the group's average.

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Smartphoto Group (EBR:SMAR) Could Easily Take On More Debt

ENXTBR:SMAR Historical Debt, July 30th 2019 A Look At Smartphoto Group's Liabilities According to the last reported balance sheet, Smartphoto Group had liabilities of €14.6m due within 12 months, and liabilities of €1.45m due beyond 12 months. … Despite its noteworthy liabilities, Smartphoto Group boasts net cash, so it's fair to say it does not have a heavy debt load! … Smartphoto Group may have net cash on the balance sheet, but it is still interesting to look at how well the business converts its earnings before interest and tax (EBIT) to free cash flow, because that will influence both its need for, and its capacity to manage debt.

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Are Smartphoto Group NV’s (EBR:SMAR) High Returns Really That Great?

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Smartphoto Group: 0.14 = €5.3m ÷ (€52m - €15m) (Based on the trailing twelve months to December 2018.) Therefore, Smartphoto Group has an ROCE of 14%. … How Smartphoto Group's Current Liabilities Impact Its ROCE Current liabilities are short term bills and invoices that need to be paid in 12 months or less. … Our Take On Smartphoto Group's ROCE This is good to see, and with a sound ROCE, Smartphoto Group could be worth a closer look.

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What Did Smartphoto Group NV's (EBR:SMAR) CEO Take Home Last Year?

See our latest analysis for Smartphoto Group How Does Stef de Corte's Compensation Compare With Similar Sized Companies? … Boasting a total shareholder return of 41% over three years, Smartphoto Group NV has done well by shareholders. … We compared the total CEO remuneration paid by Smartphoto Group NV, and compared it to remuneration at a group of similar sized companies.

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Does Smartphoto Group NV (EBR:SMAR) Create Value For Shareholders?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Smartphoto Group: 11% = €4.1m ÷ €36m (Based on the trailing twelve months to December 2018.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Does Smartphoto Group Have A Good Return On Equity? … Combining Smartphoto Group's Debt And Its 11% Return On Equity Although Smartphoto Group does use a little debt, its debt to equity ratio of just 0.034 is very low.

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What Kind Of Shareholders Own Smartphoto Group NV (EBR:SMAR)?

Insider Ownership Of Smartphoto Group While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. … Our information suggests that Smartphoto Group NV insiders own under 1% of the company. … Private Company Ownership It seems that Private Companies own 40%, of the SMAR stock.

Simply Wall St -

If You Had Bought Smartphoto Group (EBR:SMAR) Stock Five Years Ago, You Could Pocket A 186% Gain Today

One great example is Smartphoto Group NV (EBR:SMAR) which saw its share price drive 186% higher over five years. … We can see that the Smartphoto Group share price is up 26% in the last three years. … ENXTBR:SMAR Past and Future Earnings, May 10th 2019 We know that Smartphoto Group has improved its bottom line over the last three years, but what does the future have in store?

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A Spotlight On Smartphoto Group NV's (EBR:SMAR) Fundamentals

By this I mean, I look at stocks holistically, from their financial health to their future outlook. … In the case of Smartphoto Group NV (EBR:SMAR), it. … is a company that has been able to sustain great financial health, trading at an attractive share price.

Simply Wall St -

Does Smartphoto Group NV's (EBR:SMAR) P/E Ratio Signal A Buying Opportunity?

To keep it practical, we'll show how Smartphoto Group NV's (EBR:SMAR) P/E ratio could help you assess the value on offer. … Smartphoto Group has a P/E ratio of 11.36, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

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Company Info

Description

Smartphoto Group NV operates in the B2C e-commerce business in Europe. Its e-commerce business offers photo products, including photo books, photo cards, photo calendars, photo on canvas, and photo gifts under the smartphoto name. The company also offers personalized photo products through smartphoto.biz; and photo products to independent photographers. In addition, it provides visual communications, presentation systems, and printed textiles for the business-to-business customers and specialized resellers. The company was formerly known as Spector Photo Group NV and changed its name to Smartphoto Group NV in May 2013. Smartphoto Group NV was founded in 1964 and is based in Wetteren, Belgium.

Details
Name: Smartphoto Group NV
SMAR
Exchange: ENXTBR
Founded: 1964
€62,524,269
3,932,344
Website: http://www.smartphotogroup.com
Address: Smartphoto Group NV
Kwatrechtsteenweg 160,
Wetteren,
East Flanders, 9230,
Belgium
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTBR SMAR Ordinary Shares Euronext Brussels BE EUR 03. Nov 1993
Number of employees
Current staff
Staff numbers
206
Smartphoto Group employees.
Industry
Diversified Support Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/05 20:44
End of day share price update: 2019/12/05 00:00
Last estimates confirmation: 2019/11/06
Last earnings filing: 2019/08/29
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


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.