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Adval Tech Holding

SWX:ADVN
Snowflake Description

Flawless balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ADVN
SWX
CHF121M
Market Cap
  1. Home
  2. CH
  3. Capital Goods
Company description

Adval Tech Holding AG manufactures and supplies metal components and subassemblies, and plastic components worldwide. The last earnings update was 80 days ago. More info.


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ADVN Share Price and Events
7 Day Returns
-1.8%
SWX:ADVN
-0.3%
CH Machinery
-0%
CH Market
1 Year Returns
-23.1%
SWX:ADVN
14.4%
CH Machinery
13.3%
CH Market
ADVN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Adval Tech Holding (ADVN) -1.8% 3.8% 0% -23.1% -25.6% -8.5%
CH Machinery -0.3% 7.6% 15.7% 14.4% 26.5% 41.5%
CH Market -0% 3.2% 4.8% 13.3% 21.9% 13%
1 Year Return vs Industry and Market
  • ADVN underperformed the Machinery industry which returned 14.4% over the past year.
  • ADVN underperformed the Market in Switzerland which returned 13.3% over the past year.
Price Volatility
ADVN
Industry
5yr Volatility vs Market

Value

 Is Adval Tech Holding 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 Adval Tech Holding 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 Adval Tech Holding.

SWX:ADVN 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 9.6%
Perpetual Growth Rate 10-Year CH Government Bond Rate 3.3%

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 SWX:ADVN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CH Govt Bond Rate 3.3%
Equity Risk Premium S&P Global 6%
Machinery Unlevered Beta Simply Wall St/ S&P Global 1.08
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.078 (1 + (1- 18%) (1.43%))
1.061
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.06
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.28% + (1.061 * 5.96%)
9.6%

Discounted Cash Flow Calculation for SWX:ADVN using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Adval Tech Holding 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.

SWX:ADVN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CHF, Millions) Source Present Value
Discounted (@ 9.6%)
2020 8.84 Analyst x1 8.07
2021 9.50 Analyst x1 7.91
2022 10.04 Est @ 5.63% 7.63
2023 10.53 Est @ 4.93% 7.30
2024 11.00 Est @ 4.43% 6.96
2025 11.45 Est @ 4.08% 6.61
2026 11.89 Est @ 3.84% 6.26
2027 12.32 Est @ 3.67% 5.92
2028 12.76 Est @ 3.55% 5.59
2029 13.21 Est @ 3.47% 5.28
Present value of next 10 years cash flows CHF67.00
SWX:ADVN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CHF13.21 × (1 + 3.28%) ÷ (9.6% – 3.28%)
CHF215.68
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CHF215.68 ÷ (1 + 9.6%)10
CHF86.25
SWX:ADVN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CHF67.00 + CHF86.25
CHF153.25
Equity Value per Share
(CHF)
= Total value / Shares Outstanding
= CHF153.25 / 0.73
CHF209.96
SWX:ADVN Discount to Share Price
Calculation Result
Value per share (CHF) From above. CHF209.96
Current discount Discount to share price of CHF166.00
= -1 x (CHF166.00 - CHF209.96) / CHF209.96
20.9%

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

Current Discount
Amount off the current price Adval Tech Holding is available for.
Intrinsic value
21%
Share price is CHF166 vs Future cash flow value of CHF209.96
Current Discount Checks
For Adval Tech Holding to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Adval Tech Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Adval Tech Holding's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Adval Tech Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Adval Tech Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SWX:ADVN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in CHF CHF7.10
SWX:ADVN Share Price ** SWX (2019-11-15) in CHF CHF166
Switzerland Machinery Industry PE Ratio Median Figure of 25 Publicly-Listed Machinery Companies 23.34x
Switzerland Market PE Ratio Median Figure of 171 Publicly-Listed Companies 19.23x

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

** Primary Listing of Adval Tech Holding.

SWX:ADVN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 166 ÷ 7.10

23.39x

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

  • Adval Tech Holding is overvalued based on earnings compared to the CH Machinery industry average.
  • Adval Tech Holding is overvalued based on earnings compared to the Switzerland market.
Price based on expected Growth
Does Adval Tech Holding's expected growth come at a high price?
Raw Data
SWX:ADVN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.39x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
21.8%per year
Switzerland Machinery Industry PEG Ratio Median Figure of 23 Publicly-Listed Machinery Companies 1.18x
Switzerland Market PEG Ratio Median Figure of 124 Publicly-Listed Companies 2.17x

*Line of best fit is calculated by linear regression .

SWX:ADVN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 23.39x ÷ 21.8%

1.07x

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

  • Adval Tech Holding is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Adval Tech Holding's assets?
Raw Data
SWX:ADVN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in CHF CHF169.51
SWX:ADVN Share Price * SWX (2019-11-15) in CHF CHF166
Switzerland Machinery Industry PB Ratio Median Figure of 25 Publicly-Listed Machinery Companies 2.3x
Switzerland Market PB Ratio Median Figure of 214 Publicly-Listed Companies 1.66x
SWX:ADVN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 166 ÷ 169.51

0.98x

* Primary Listing of Adval Tech Holding.

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

  • Adval Tech Holding is good value based on assets compared to the CH Machinery industry average.
X
Value checks
We assess Adval Tech Holding'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 Machinery 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 Machinery industry average (and greater than 0)? (1 check)
  5. Adval Tech Holding has a total score of 2/6, 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 Adval Tech Holding 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
21.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Adval Tech Holding expected to grow at an attractive rate?
  • Adval Tech Holding's earnings growth is expected to exceed the low risk savings rate of 3.3%.
Growth vs Market Checks
  • Adval Tech Holding's earnings growth is expected to exceed the Switzerland market average.
  • Adval Tech Holding's revenue growth is positive but not above the Switzerland market average.
Annual Growth Rates Comparison
Raw Data
SWX:ADVN Future Growth Rates Data Sources
Data Point Source Value (per year)
SWX:ADVN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 21.8%
SWX:ADVN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 2.2%
Switzerland Machinery Industry Earnings Growth Rate Market Cap Weighted Average 14.5%
Switzerland Machinery Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
Switzerland Market Earnings Growth Rate Market Cap Weighted Average 9.9%
Switzerland Market Revenue Growth Rate Market Cap Weighted Average 3.5%

*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
SWX:ADVN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SWX:ADVN Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 204 1
2022-12-31 200 1
2021-12-31 196 19 11 1
2020-12-31 193 18 10 1
2019-12-31 189 16 9 1
2019-11-18
SWX:ADVN Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2019-06-30 184 10 5
2019-03-31 188 12 7
2018-12-31 191 14 9
2018-09-30 197 20 11
2018-06-30 202 26 13
2018-03-31 201 20 11
2017-12-31 200 14 9
2017-09-30 212 9 25
2017-06-30 224 3 41
2017-03-31 228 9 40
2016-12-31 232 15 40
2016-09-30 225 20 23

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Adval Tech Holding's earnings are expected to grow significantly at over 20% yearly.
  • Adval Tech Holding's revenue is expected to grow by 2.2% 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
SWX:ADVN 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 1 Analyst Estimates (S&P Global) See Below

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

SWX:ADVN Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 14.93 14.93 14.93 1.00
2020-12-31 13.96 13.96 13.96 1.00
2019-12-31 12.75 12.75 12.75 1.00
2019-11-18
SWX:ADVN Past Financials Data
Date (Data in CHF Millions) EPS *
2019-06-30 7.10
2019-03-31 9.56
2018-12-31 12.02
2018-09-30 14.86
2018-06-30 17.70
2018-03-31 14.84
2017-12-31 11.98
2017-09-30 34.18
2017-06-30 56.39
2017-03-31 55.42
2016-12-31 54.45
2016-09-30 31.12

*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.
  • Adval Tech Holding is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Adval Tech Holding'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 Switzerland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Switzerland 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.
Adval Tech Holding 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 Adval Tech Holding 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 Adval Tech Holding's growth in the last year to its industry (Machinery).
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.
  • Adval Tech Holding has delivered over 20% year on year earnings growth in the past 5 years.
  • Adval Tech Holding's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Adval Tech Holding's 1-year earnings growth is negative, it can't be compared to the CH Machinery industry average.
Earnings and Revenue History
Adval Tech Holding'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 Adval Tech Holding Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:ADVN Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 183.93 5.18 59.70
2019-03-31 187.68 6.98 61.10
2018-12-31 191.44 8.77 62.50
2018-09-30 196.72 10.85 63.55
2018-06-30 202.01 12.92 64.59
2018-03-31 201.20 10.83 64.00
2017-12-31 200.39 8.75 63.41
2017-09-30 212.33 24.95 65.10
2017-06-30 224.27 41.16 66.78
2017-03-31 228.33 40.45 71.17
2016-12-31 232.39 39.75 75.56
2016-09-30 224.88 22.72 75.95
2016-06-30 217.37 5.69 76.34
2016-03-31 217.41 3.14 75.14
2015-12-31 217.46 0.60 73.93
2015-09-30 221.04 -0.97 75.93
2015-06-30 224.63 -2.53 77.92
2015-03-31 232.81 -0.32 79.58
2014-12-31 241.00 1.89 81.23
2014-09-30 250.04 -8.80 82.43
2014-06-30 259.08 -19.50 83.62
2014-03-31 265.27 -20.76 85.06
2013-12-31 271.46 -22.01 86.49
2013-09-30 269.21 -15.29 87.88
2013-06-30 266.97 -8.57 89.27
2013-03-31 269.73 -11.97 91.44
2012-12-31 272.50 -15.38 93.60

*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.
  • Adval Tech Holding has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Adval Tech Holding used its assets less efficiently than the CH Machinery industry average last year based on Return on Assets.
  • Adval Tech Holding's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Adval Tech Holding'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 Machinery 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.
Adval Tech Holding 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.

Health

 How is Adval Tech Holding'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 Adval Tech Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Adval Tech Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Adval Tech Holding's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Adval Tech Holding'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 4.3590791153282E+17x 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 Adval Tech Holding Company Filings, last reported 4 months ago.

SWX:ADVN Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 123.73 0.00 21.56
2019-03-31 123.73 0.00 21.56
2018-12-31 123.53 0.00 27.49
2018-09-30 123.53 0.00 27.49
2018-06-30 121.36 0.54 22.88
2018-03-31 121.36 0.54 22.88
2017-12-31 117.29 0.12 18.08
2017-09-30 117.29 0.12 18.08
2017-06-30 107.84 3.12 12.41
2017-03-31 107.84 3.12 12.41
2016-12-31 133.23 0.50 53.87
2016-09-30 133.23 0.50 53.87
2016-06-30 53.34 98.16 21.26
2016-03-31 53.34 98.16 21.26
2015-12-31 64.61 75.16 15.99
2015-09-30 64.61 75.16 15.99
2015-06-30 57.53 83.54 14.24
2015-03-31 57.53 83.54 14.24
2014-12-31 68.46 81.89 19.16
2014-09-30 68.46 81.89 19.16
2014-06-30 65.23 87.26 21.01
2014-03-31 65.23 87.26 21.01
2013-12-31 64.27 86.84 18.96
2013-09-30 64.27 86.84 18.96
2013-06-30 54.74 121.34 17.25
2013-03-31 54.74 121.34 17.25
2012-12-31 53.84 121.34 16.19
  • Adval Tech Holding's level of debt (0%) 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 (133.3% vs 0% today).
  • Debt is well covered by operating cash flow (4.5306212251347E+18%, greater than 20% of total debt).
  • Adval Tech Holding earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Adval Tech Holding'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. Adval Tech Holding 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 Adval Tech Holding's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.53%
Current annual income from Adval Tech Holding dividends. Estimated to be 2.75% next year.
If you bought CHF2,000 of Adval Tech Holding shares you are expected to receive CHF51 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?
  • Adval Tech Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Switzerland (1.85%).
  • Adval Tech Holding's dividend is below the markets top 25% of dividend payers in Switzerland (3.6%).
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
SWX:ADVN 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
Switzerland Machinery Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 2.2%
Switzerland Market Average Dividend Yield Market Cap Weighted Average of 163 Stocks 2.9%
Switzerland Minimum Threshold Dividend Yield 10th Percentile 1.2%
Switzerland Bottom 25% Dividend Yield 25th Percentile 1.8%
Switzerland Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

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

SWX:ADVN Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 5.00 1.00
2020-12-31 4.50 1.00
2019-12-31 4.20 1.00
2019-11-18
SWX:ADVN Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2019-03-21 4.200 2.449
2018-04-24 4.000 1.912
2017-04-24 41.000 16.719
2009-07-30 0.000 0.000
2009-03-02 0.000 0.000

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

  • Adval Tech Holding has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Adval Tech Holding has only been paying a dividend for 3 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Adval Tech Holding's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3x coverage).
X
Income/ dividend checks
We assess Adval Tech Holding's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - 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 Adval Tech Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Adval Tech Holding has a total score of 3/6, see the detailed checks below.


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

Management

 What is the CEO of Adval Tech Holding'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
René Rothen
COMPENSATION CHF668,323
AGE 60
TENURE AS CEO 7.3 years
CEO Bio

Mr. René Rothen has been the Chief Executive Officer of Adval Tech Holding AG since August 1, 2012. Mr. Rothen served as Head of the Automotive Division at Adval Tech Holding AG. He served as Head of the Stamping and Forming Division of Adval Tech Holding AG since January 1, 2007. He served as the Head of Product Development, Machine Tool Manufacturing from 1983 to 1993, various executive positions with a Swiss automotive components supplier from 1993 to 2006, including head of Operations, Switzerland and Hungary, and served as Chief Executive Officer of a subsidiary in the US. He has considerable international and industrial management experience. Mr. Rothen has joined Adval Tech from the Saia-Burgess Group, where in recent years he has been Head of Operations - Automotive Drives - Switzerland and Hungary as well as President of Saia-Burgess Automotive Inc. USA. He is graduate engineer.

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

Average tenure and age of the Adval Tech Holding management team in years:

7.5
Average Tenure
58
Average Age
  • The average tenure for the Adval Tech Holding management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

René Rothen

TITLE
Chief Executive Officer
COMPENSATION
CHF668K
AGE
60
TENURE
7.3 yrs

Markus Reber

TITLE
CFO & Group Controller
AGE
56
TENURE
12.8 yrs

Valeria Poretti-Rezzonico

TITLE
Head Corporate HR & Communication
AGE
58
TENURE
7.5 yrs

Alfred Raggenbass

TITLE
Head of Technology Center-Stamping & Forming Division

Ralf Ostheider

TITLE
Head of Components

Rudolf Lüthi

TITLE
Head of Technical Support-Stamping & Forming Division

M. Wolf

TITLE
Head of Medical Division

Daniel Schüpbach

TITLE
Head of Sales - Awm Plast Tech Ltd

Ingrid Schaub

TITLE
Executive Officer of Foboha Gmbh

Martin Osterode

TITLE
Head of Awm Mold Service US Inc
Board of Directors Tenure

Average tenure and age of the Adval Tech Holding board of directors in years:

11.1
Average Tenure
63.5
Average Age
  • The average tenure for the Adval Tech Holding board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Willy Michel

TITLE
Chairman of the Board
COMPENSATION
CHF78K
AGE
72
TENURE
7.4 yrs

Roland Waibel

TITLE
Non-Executive Director
COMPENSATION
CHF78K
AGE
61
TENURE
14.8 yrs

Hans Dreier

TITLE
Director
COMPENSATION
CHF66K
AGE
66
TENURE
31.8 yrs

Christian Mäder

TITLE
Director
COMPENSATION
CHF57K
AGE
50
TENURE
2.5 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 (CHF) Value (CHF)
X
Management checks
We assess Adval Tech Holding'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. Adval Tech Holding 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

Read This Before Judging Adval Tech Holding AG's (VTX:ADVN) ROE

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Adval Tech Holding: 7.1% = CHF8.8m ÷ CHF124m (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. … Combining Adval Tech Holding's Debt And Its 7.1% Return On Equity One positive for shareholders is that Adval Tech Holding does not have any net debt! … A company that can achieve a high return on equity without debt could be considered a high quality business.

Simply Wall St -

Adval Tech Holding AG’s (VTX:ADVN) Investment Returns Are Lagging Its Industry

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Adval Tech Holding: 0.095 = CHF12m ÷ (CHF180m - CHF51m) (Based on the trailing twelve months to December 2018.) Therefore, Adval Tech Holding has an ROCE of 9.5%. … Adval Tech Holding's Current Liabilities And Their Impact On Its ROCE Liabilities, such as supplier bills and bank overdrafts, are referred to as current liabilities if they need to be paid within 12 months. … Adval Tech Holding has total assets of CHF180m and current liabilities of CHF51m.

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Is Adval Tech Holding AG (VTX:ADVN) An Attractive Dividend Stock?

Dividend paying stocks like Adval Tech Holding AG (VTX:ADVN) tend to be popular with investors, and for good reason - some research suggests a significant amount of all stock market returns come from reinvested dividends. Unfortunately, it's common for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. Some readers mightn't know much about Adval Tech Holding's 2.7% dividend, as it has only been paying distributions for the last two years. A low dividend might not be a bad thing, if the company is reinvesting heavily and growing its sales and profits. When buying stocks for their dividends, you should always run through the checks below, to see if the dividend looks sustainable. Explore this interactive chart for our latest analysis on Adval Tech Holding! SWX:ADVN Historical Dividend Yield, August 6th 2019 Payout ratios Dividends are usually paid out of company earnings. If a company is paying more than it earns, then the dividend might become unsustainable - hardly an ideal situation. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. Adval Tech Holding paid out 35% of its profit as dividends, over the trailing twelve month period. A medium payout ratio strikes a good balance between paying dividends, and keeping enough back to invest in the business. Besides, if reinvestment opportunities dry up, the company has room to increase the dividend. We also measure dividends paid against a company's levered free cash flow, to see if enough cash was generated to cover the dividend. With a cash payout ratio of 91%, Adval Tech Holding's dividend payments are poorly covered by cash flow. Adval Tech Holding paid out less in dividends than it reported in profits, but unfortunately it didn't generate enough free cash flow to cover the dividend. Cash is king, as they say, and were Adval Tech Holding to repeatedly pay dividends that aren't well covered by cashflow, we would consider this a warning sign. Dividend Volatility Before buying a stock for its income, we want to see if the dividends have been stable in the past, and if the company has a track record of maintaining its dividend. It has only been paying dividends for a few short years, and the dividend has already been cut at least once. This is one income stream we're not ready to live on. During the past two-year period, the first annual payment was CHF41.00 in 2017, compared to CHF4.20 last year. As we can see, dividend payments have fallen heavily from where they were two years ago. When a company's per-share dividend falls we question if this reflects poorly on either external business conditions, or the company's capital allocation decisions. Either way, we find it hard to get excited about a company with a declining dividend. Dividend Growth Potential With a relatively unstable dividend, and a poor history of shrinking dividends, it's even more important to see if EPS are growing. It's good to see Adval Tech Holding has been growing its earnings per share at 55% a year over the past 5 years. Earnings per share have rocketed in recent times, and we like that the company is retaining more than half of its earnings to reinvest. However, always remember that very few companies can grow at double digit rates forever. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. … Adval Tech Holding has a low payout ratio, which we like, although it paid out virtually all of its generated cash. … While we're not hugely bearish on it, overall we think there are potentially better dividend stocks than Adval Tech Holding out there.

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Is Adval Tech Holding AG's (VTX:ADVN) P/E Ratio Really That Good?

The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Adval Tech Holding: P/E of 14.15 = CHF170 ÷ CHF12.02 (Based on the trailing twelve months to December 2018.) Is A High P/E Ratio Good? … All else being equal, it's better to pay a low price -- but as Warren Buffett said, 'It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.' How Does Adval Tech Holding's P/E Ratio Compare To Its Peers? … The Bottom Line On Adval Tech Holding's P/E Ratio Adval Tech Holding trades on a P/E ratio of 14.1, which is below the CH market average of 18.

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Why Fundamental Investors Might Love Adval Tech Holding AG (VTX:ADVN)

By this I mean, I look at stocks holistically, from their financial health to their future outlook. … In the case of Adval Tech Holding AG (VTX:ADVN), it is a company that has been able to sustain great financial health, trading at an attractive share price. … SWX:ADVN Intrinsic value, July 8th 2019 Next Steps: For Adval Tech Holding, I've put together three pertinent aspects you should look at: Future Outlook: What are well-informed industry analysts predicting for ADVN’s future growth?

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Should You Be Concerned About Adval Tech Holding AG's (VTX:ADVN) Earnings Growth?

Measuring Adval Tech Holding AG's (VTX:ADVN) track record of past performance is a useful exercise for investors. … While Adval Tech Holding has a good historical track record with positive growth and profitability, there's no certainty that this will extrapolate into the future. … You should continue to research Adval Tech Holding to get a more holistic view of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for ADVN’s future growth?

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Did Changing Sentiment Drive Adval Tech Holding's (VTX:ADVN) Share Price Down By 23%?

Adval Tech Holding AG (VTX:ADVN) shareholders should be happy to see the share price up 12% in the last quarter. … Even though the Adval Tech Holding share price is down over the year, its EPS actually improved. … Investors should note that there's a difference between Adval Tech Holding's total shareholder return (TSR) and its share price change, which we've covered above.

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Will Adval Tech Holding AG's (VTX:ADVN) Earnings Grow In The Years Ahead?

The most recent earnings update Adval Tech Holding AG's (VTX:ADVN) released in December 2018 confirmed that the company gained from a small tailwind, leading to a single-digit earnings growth of 0.3%. … Investors may find it useful to understand how market analysts perceive Adval Tech Holding's earnings growth trajectory over the next few years and whether the future looks even brighter than the past. … Check out our latest analysis for Adval Tech Holding Analysts' outlook for next year seems optimistic, with earnings expanding by a robust 19%.

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Is Adval Tech Holding AG's (VTX:ADVN) CEO Paid Enough Relative To Peers?

Check out our latest analysis for Adval Tech Holding How Does René Rothen's Compensation Compare With Similar Sized Companies? … Thus we can conclude that René Rothen receives more in total compensation than the median of a group of companies in the same market, and of similar size to Adval Tech Holding AG. … We compared total CEO remuneration at Adval Tech Holding AG with the amount paid at companies with a similar market capitalization.

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How Do Analysts See Adval Tech Holding AG (VTX:ADVN) Performing In The Next 12 Months?

Since Adval Tech Holding AG (VTX:ADVN) released its earnings in December 2018,. … as a 19% rise in profits is expected in the upcoming year, … the higher past 5-year average growth rate of 55%

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Company Info

Description

Adval Tech Holding AG manufactures and supplies metal components and subassemblies, and plastic components worldwide. The company offers stamped and formed series parts and subassemblies for the automotive industry, which include rotationally symmetrical parts, such as components for airbags, ABS braking systems, and fuel injection systems; steering system subassemblies, roof rack systems, and decor parts; structural components and composite components from metal and plastic elements comprising door sill plates; lighting systems; and fuel management systems. It supplies plastic components to automotive manufacturers, including air-water separation systems, air flow elements, air guidance systems, and seatbelt buckles, as well as produces plastic parts, assemblies, and systems for the household appliance and the medical device field. The company was formerly known as Styner+Bienz AG and changed its name to Adval Tech Holding AG in 1997. Adval Tech Holding AG was founded in 1924 and is based in Niederwangen, Switzerland.

Details
Name: Adval Tech Holding AG
ADVN
Exchange: SWX
Founded: 1924
CHF121,164,064
729,904
Website: http://www.advaltech.com
Address: Adval Tech Holding AG
Freiburgstrasse 556,
Niederwangen,
Bern, 3172,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX ADVN Registered Shares SIX Swiss Exchange CH CHF 04. Jun 1998
BST 28D Registered Shares Boerse-Stuttgart DE EUR 04. Jun 1998
LSE 0QR0 Registered Shares London Stock Exchange GB CHF 04. Jun 1998
Number of employees
Current staff
Staff numbers
1,245
Adval Tech Holding employees.
Industry
Industrial Machinery
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/18 20:47
End of day share price update: 2019/11/15 00:00
Last estimates confirmation: 2019/09/05
Last earnings filing: 2019/08/30
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.