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Conzzeta

SWX:CON
Snowflake Description

Flawless balance sheet with solid track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CON
SWX
CHF2B
Market Cap
  1. Home
  2. CH
  3. Capital Goods
Company description

Conzzeta AG, through its subsidiaries, provides solutions in sheet metal processing, sporting goods, foam materials, graphic coatings, and glass processing worldwide. The last earnings update was 101 days ago. More info.


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CON Share Price and Events
7 Day Returns
2.1%
SWX:CON
-0.3%
CH Machinery
-0%
CH Market
1 Year Returns
19%
SWX:CON
14.4%
CH Machinery
13.3%
CH Market
CON Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Conzzeta (CON) 2.1% 12.4% 21% 19% 36% 14.7%
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
  • CON outperformed the Machinery industry which returned 14.4% over the past year.
  • CON outperformed the Market in Switzerland which returned 13.3% over the past year.
Price Volatility
CON
Industry
5yr Volatility vs Market

Value

 Is Conzzeta 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 Conzzeta 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 Conzzeta.

SWX:CON 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 9.5%
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:CON
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%) (0%))
1.052
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.05
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.28% + (1.052 * 5.96%)
9.55%

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

The calculations below outline how an intrinsic value for Conzzeta 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:CON DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CHF, Millions) Source Present Value
Discounted (@ 9.55%)
2020 105.25 Analyst x4 96.08
2021 107.03 Analyst x4 89.18
2022 125.00 Analyst x1 95.08
2023 138.00 Analyst x1 95.82
2024 148.15 Est @ 7.35% 93.90
2025 157.23 Est @ 6.13% 90.97
2026 165.52 Est @ 5.27% 87.42
2027 173.25 Est @ 4.67% 83.53
2028 180.62 Est @ 4.25% 79.50
2029 187.78 Est @ 3.96% 75.44
Present value of next 10 years cash flows CHF886.00
SWX:CON DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CHF187.78 × (1 + 3.28%) ÷ (9.55% – 3.28%)
CHF3,091.54
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CHF3,091.54 ÷ (1 + 9.55%)10
CHF1,242.04
SWX:CON Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CHF886.00 + CHF1,242.04
CHF2,128.04
Equity Value per Share
(CHF)
= Total value / Shares Outstanding
= CHF2,128.04 / 2.07
CHF1030.28
SWX:CON Discount to Share Price
Calculation Result
Value per share (CHF) From above. CHF1,030.28
Current discount Discount to share price of CHF945.00
= -1 x (CHF945.00 - CHF1,030.28) / CHF1,030.28
8.3%

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

Current Discount
Amount off the current price Conzzeta is available for.
Intrinsic value
8%
Share price is CHF945 vs Future cash flow value of CHF1030.28
Current Discount Checks
For Conzzeta to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Conzzeta's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Conzzeta'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 Conzzeta's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Conzzeta's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SWX:CON PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in CHF CHF46.73
SWX:CON Share Price ** SWX (2019-11-15) in CHF CHF945
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 Conzzeta.

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

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

= 945 ÷ 46.73

20.22x

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

  • Conzzeta is good value based on earnings compared to the CH Machinery industry average.
  • Conzzeta is overvalued based on earnings compared to the Switzerland market.
Price based on expected Growth
Does Conzzeta's expected growth come at a high price?
Raw Data
SWX:CON PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 20.22x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
-1%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:CON PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 20.22x ÷ -1%

-20.9x

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

  • Conzzeta earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Conzzeta's assets?
Raw Data
SWX:CON PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in CHF CHF436.75
SWX:CON Share Price * SWX (2019-11-15) in CHF CHF945
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:CON PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 945 ÷ 436.75

2.16x

* Primary Listing of Conzzeta.

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

  • Conzzeta is good value based on assets compared to the CH Machinery industry average.
X
Value checks
We assess Conzzeta'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. Conzzeta 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 Conzzeta 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
-1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Conzzeta expected to grow at an attractive rate?
  • Conzzeta's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 3.3%.
Growth vs Market Checks
  • Conzzeta's earnings are expected to decrease over the next 1-3 years, this is below the Switzerland market average.
  • Conzzeta's revenue growth is positive but not above the Switzerland market average.
Annual Growth Rates Comparison
Raw Data
SWX:CON Future Growth Rates Data Sources
Data Point Source Value (per year)
SWX:CON Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts -1%
SWX:CON Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 0.4%
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:CON Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SWX:CON Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,572 180 1
2022-12-31 1,672 167 1
2021-12-31 1,666 150 119 4
2020-12-31 1,617 151 108 5
2019-12-31 1,588 151 117 5
2019-11-18
SWX:CON Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2019-06-30 1,699 103 125
2019-03-31 1,741 123 111
2018-12-31 1,782 144 97
2018-09-30 1,747 136 99
2018-06-30 1,713 127 101
2018-03-31 1,598 111 92
2017-12-31 1,483 94 84
2017-09-30 1,396 93 75
2017-06-30 1,309 93 65
2017-03-31 1,259 94 63
2016-12-31 1,210 96 60

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Conzzeta's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Conzzeta's revenue is expected to grow by 0.4% 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
SWX:CON Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

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

SWX:CON 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 57.67 62.00 52.48 4.00
2020-12-31 52.50 55.50 49.99 4.00
2019-12-31 59.45 67.60 44.49 4.00
2019-11-18
SWX:CON Past Financials Data
Date (Data in CHF Millions) EPS *
2019-06-30
2019-03-31
2018-12-31 46.73
2018-09-30 47.81
2018-06-30
2018-03-31
2017-12-31 40.49
2017-09-30 36.09
2017-06-30
2017-03-31
2016-12-31 29.09

*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.
  • Conzzeta is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Conzzeta'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.
Conzzeta has a total score of 0/6, 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 Conzzeta 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 Conzzeta'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.
  • Conzzeta's year on year earnings growth rate has been positive over the past 5 years.
  • Conzzeta's 1-year earnings growth exceeds its 5-year average (24.1% vs 12.6%)
  • Conzzeta's earnings growth has exceeded the CH Machinery industry average in the past year (24.1% vs 2.7%).
Earnings and Revenue History
Conzzeta'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 Conzzeta Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:CON 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 1,699.00 125.20 410.20
2019-03-31 1,740.60 110.90 408.00
2018-12-31 1,782.20 96.60 405.80
2018-09-30 1,747.40 98.75 388.00
2018-06-30 1,712.60 100.90 370.20
2018-03-31 1,597.70 92.30 353.90
2017-12-31 1,482.80 83.70 337.60
2017-09-30 1,395.85 74.55 324.75
2017-06-30 1,308.90 65.40 311.90
2017-03-31 1,259.45 62.80 305.35
2016-12-31 1,210.00 60.20 298.80
2016-06-30 1,112.30 55.70 289.00
2016-03-31 1,121.85 55.85 285.65
2015-12-31 1,131.40 56.00 282.30
2015-06-30 1,148.90 69.20 274.80
2015-03-31 1,154.20 70.75 280.20
2014-12-31 1,159.50 72.30 285.60
2014-06-30 1,148.90 73.33 268.80
2014-03-31 1,140.60 71.98 266.05
2013-12-31 1,132.30 70.63 263.30
2013-09-30 1,182.29 64.25 285.50
2013-06-30 1,170.61 55.05 279.43
2013-03-31 1,166.06 50.70 285.93
2012-12-31 1,161.51 46.35 292.43

*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.
  • Conzzeta has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Conzzeta used its assets more efficiently than the CH Machinery industry average last year based on Return on Assets.
  • Conzzeta has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Conzzeta'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.
Conzzeta has a total score of 5/6, 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 Conzzeta'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 Conzzeta's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Conzzeta is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Conzzeta's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Conzzeta'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.
  • Conzzeta has no debt, it does not need to be covered by short term assets.
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 Conzzeta Company Filings, last reported 4 months ago.

SWX:CON Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 958.60 0.00 389.90
2019-03-31 958.60 0.00 389.90
2018-12-31 926.90 15.20 389.60
2018-09-30 926.90 15.20 389.60
2018-06-30 883.20 11.10 364.10
2018-03-31 883.20 11.10 364.10
2017-12-31 902.90 9.80 399.10
2017-09-30 902.90 9.80 399.10
2017-06-30 944.50 3.20 501.40
2017-03-31 944.50 3.20 501.40
2016-12-31 941.50 4.10 519.80
2016-06-30 955.40 7.50 509.00
2016-03-31 955.40 7.50 509.00
2015-12-31 959.90 13.60 540.80
2015-06-30 910.30 12.60 487.80
2015-03-31 910.30 12.60 487.80
2014-12-31 1,132.80 12.50 617.20
2014-06-30 1,033.30 0.00 476.00
2014-03-31 1,033.30 0.00 476.00
2013-12-31 1,008.75 16.12 506.80
2013-09-30 1,010.87 16.12 506.80
2013-06-30 964.40 0.00 424.70
2013-03-31 964.40 0.00 424.70
2012-12-31 957.43 14.60 422.25
  • Conzzeta has no debt.
  • Conzzeta had no debt 5 years ago.
  • Conzzeta has no debt, it does not need to be covered by operating cash flow.
  • Conzzeta has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Conzzeta'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. Conzzeta 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 Conzzeta'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
1.9%
Current annual income from Conzzeta dividends. Estimated to be 2.62% next year.
If you bought CHF2,000 of Conzzeta shares you are expected to receive CHF38 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?
  • Conzzeta's pays a higher dividend yield than the bottom 25% of dividend payers in Switzerland (1.85%).
  • Conzzeta'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:CON 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
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:CON Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 22.20 5.00
2020-12-31 21.00 5.00
2019-12-31 31.00 5.00
2019-11-18
SWX:CON Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2019-03-20 18.000 2.166
2019-03-15 18.000 2.165
2018-03-20 16.000 1.596
2017-03-21 11.000 1.098
2016-03-22 10.000 1.462
2015-03-27 12.500 1.867
2014-03-26 22.500 2.651
2013-03-26 10.000 2.100
2012-03-27 54.250 12.186
2011-03-17 10.000 1.990
2010-03-30 7.500 1.614
2010-03-01 7.500 1.711
2009-01-05 15.000 3.875

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 increased over the past 10 years.
Current Payout to shareholders
What portion of Conzzeta's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.6x coverage).
X
Income/ dividend checks
We assess Conzzeta'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 Conzzeta afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Conzzeta has a total score of 4/6, see the detailed checks below.


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

Management

 What is the CEO of Conzzeta'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
Michael Willome
COMPENSATION CHF1,877,300
AGE 53
TENURE AS CEO 3.8 years
CEO Bio

Mr. Michael Willome, lic. oec. HSG has been Group Chief Executive Officer of Conzzeta AG since January 1, 2016. Mr. Willome served as Head of Business Unit Industrial & Consumer Specialties (ICS) at Clariant AG since 2010. He served as President of Clariant Canada, Inc. Prior to, he held various management positions in Hong Kong, Canada and Turkey for more than 14 years. He had been working in various management positions at Clariant AG since 1997. He worked in Group auditing at Novartis. He serves as a member of the supervisory body of some resident in Switzerland, Germany and Austria subsidiaries of Swedish industry group Indutrade.

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

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

6.6
Average Tenure
53
Average Age
  • The average tenure for the Conzzeta management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Michael Willome

TITLE
Group Chief Executive Officer
COMPENSATION
CHF2M
AGE
53
TENURE
3.8 yrs

Kaspar Kelterborn

TITLE
Group Chief Financial Officer
AGE
55
TENURE
13.8 yrs

Michael Stäheli

TITLE
Head of Investor Relations & Corporate Communications

Barbara Senn

TITLE
General Counsel
AGE
52
TENURE
9.8 yrs

Jakob Rohner

TITLE
Head of Graphic Coatings Business Unit
AGE
61
TENURE
8.4 yrs

Alex Waser

TITLE
Head of Sheet Metal Processing Business Unit
AGE
52
TENURE
6.6 yrs

Oliver Pabst

TITLE
Head of the Sporting Goods Business Unit
AGE
53
TENURE
3.2 yrs

Michael Riedel

TITLE
Head of FoamPartner Business Unit
AGE
51
TENURE
1.8 yrs
Board of Directors Tenure

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

9.1
Average Tenure
64.5
Average Age
  • The tenure for the Conzzeta board of directors is about average.
Board of Directors

Ernst Bärtschi

TITLE
Chairman
COMPENSATION
CHF441K
AGE
67
TENURE
5.6 yrs

Philip Mosimann

TITLE
Vice Chairman
COMPENSATION
CHF132K
AGE
65
TENURE
12.6 yrs

Roland Abt

TITLE
Director
COMPENSATION
CHF132K
AGE
62
TENURE
5.6 yrs

Jacob Schmidheiny

TITLE
Director
COMPENSATION
CHF104K
AGE
76
TENURE
42.8 yrs

Matthias Auer

TITLE
Director
COMPENSATION
CHF114K
AGE
66
TENURE
23.8 yrs

Robert Spoerry

TITLE
Director
COMPENSATION
CHF120K
AGE
64
TENURE
23.8 yrs

Urs Riedener

TITLE
Director
COMPENSATION
CHF132K
AGE
54
TENURE
5.6 yrs

Michael König

TITLE
Director
AGE
56
TENURE
0.6 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 (CHF) Value (CHF)
X
Management checks
We assess Conzzeta'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. Conzzeta 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

Should You Be Adding Conzzeta (VTX:CON) To Your Watchlist Today?

View our latest analysis for Conzzeta Conzzeta's Earnings Per Share Are Growing. … Therefore, there are plenty of investors who like to buy shares in companies that are growing EPS. … For growth investors like me, Conzzeta's raw rate of earnings growth is a beacon in the night.

Simply Wall St -

Is Conzzeta AG's (VTX:CON) 15% ROE Better Than Average?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Conzzeta: 15% = CHF125m ÷ CHF959m (Based on the trailing twelve months to June 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Does Conzzeta Have A Good Return On Equity? … The Importance Of Debt To Return On Equity Companies usually need to invest money to grow their profits.

Simply Wall St -

What Do Investors Need To Know About Conzzeta AG's (VTX:CON) Future?

Generally, the consensus outlook from analysts appear bearish, with earnings expected to decline by 1.9% in the upcoming year relative to the past 5-year average growth rate of 7.0%. … Currently with a trailing-twelve-month profit of CHF97m, the consensus growth rate suggests that earnings will drop to CHF95m by 2020. … SWX:CON Past and Future Earnings, August 8th 2019 This results in an annual growth rate of 6.6% based on the most recent earnings level of CHF97m to the final forecast of CHF115m by 2022.

Simply Wall St -

Here's How We Evaluate Conzzeta AG's (VTX:CON) Dividend

Is Conzzeta AG (VTX:CON) a good dividend stock? … Yet sometimes, investors buy a stock for its dividend and lose money because the share price falls by more than they earned in dividend payments. … Modest growth in the dividend is good to see, but we think this is offset by historical cuts to the payments.

Simply Wall St -

Calculating The Fair Value Of Conzzeta AG (VTX:CON)

In this article we are going to estimate the intrinsic value of Conzzeta AG (VTX:CON) by taking the expected future cash flows and discounting them to today's value. … We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. … Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) estimate 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Levered FCF (CHF, Millions) CHF102.7m CHF117.2m CHF125.0m CHF132.0m CHF138.5m CHF144.7m CHF150.6m CHF156.4m CHF162.1m CHF167.9m Growth Rate Estimate Source Analyst x4 Analyst x4 Est @ 6.65% Est @ 5.64% Est @ 4.93% Est @ 4.43% Est @ 4.09% Est @ 3.84% Est @ 3.67% Est @ 3.55% Present Value (CHF, Millions) Discounted @ 9.61% CHF93.7 CHF97.5 CHF94.9 CHF91.5 CHF87.5 CHF83.4 CHF79.2 CHF75.0 CHF71.0 CHF67.0 ("Est" = FCF growth rate estimated by Simply Wall St) Present Value of 10-year Cash Flow (PVCF)= CHF840.8m The second stage is also known as Terminal Value, this is the business's cash flow after the first stage.

Simply Wall St -

Do You Know About Conzzeta AG’s (VTX:CON) ROCE?

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 Conzzeta: 0.15 = CHF147m ÷ (CHF1.4b - CHF380m) (Based on the trailing twelve months to December 2018.) Therefore, Conzzeta has an ROCE of 15%. … Conzzeta'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. … The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise.

Simply Wall St -

Is Conzzeta AG's (VTX:CON) CEO Salary Justified?

See our latest analysis for Conzzeta How Does Michael Willome's Compensation Compare With Similar Sized Companies? … It would therefore appear that Conzzeta AG pays Michael Willome more than the median CEO remuneration at companies of a similar size, in the same market. … We compared the total CEO remuneration paid by Conzzeta AG, and compared it to remuneration at a group of similar sized companies.

Simply Wall St -

Conzzeta (VTX:CON) Has A Rock Solid Balance Sheet

Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price. … While Conzzeta has net cash on its balance sheet, it's still worth taking a look at its ability to convert earnings before interest and tax (EBIT) to free cash flow, to help us understand how quickly it is building (or eroding) that cash balance. … Summing up While it is always sensible to investigate a company's debt, in this case Conzzeta has CHF374m in net cash and a decent-looking balance sheet.

Simply Wall St -

Has Conzzeta AG (VTX:CON) Improved Earnings Growth In Recent Times?

Today I will take a look at Conzzeta AG's (VTX:CON) most recent earnings update (31 December 2018) and compare these latest figures against its performance over the past few years, as well as how the rest of the machinery industry performed. … While Conzzeta has a good historical track record with positive growth and profitability, there's no certainty that this will extrapolate into the future. … I suggest you continue to research Conzzeta to get a more holistic view of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for CON’s future growth?

Simply Wall St -

Does Conzzeta AG's (VTX:CON) Recent Track Record Look Strong?

After reading Conzzeta AG's (VTX:CON) most recent earnings announcement (31 December 2018), I found it useful to look back at how the company has performed in the past and compare this against the latest numbers. … Let's see if it is solely due to industry tailwinds, or if Conzzeta has experienced some company-specific growth. … I recommend you continue to research Conzzeta to get a more holistic view of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for CON’s future growth?

Simply Wall St -

Company Info

Description

Conzzeta AG, through its subsidiaries, provides solutions in sheet metal processing, sporting goods, foam materials, graphic coatings, and glass processing worldwide. The company offers sheet metal processing systems comprising laser cutting systems, press brakes, and associated automation and software solutions for sheet metal and other sheet materials. It also develops, manufactures, and markets clothing and equipment for mountaineering, climbing, and winter sports; and produces and processes foam materials made from polyurethane for industry and comfort applications. In addition, the company provides print varnishes, such as UV varnish that are used in print products and packaging for the pharmaceutical, cosmetics, luxury products, and foodstuff segments. Further, it offers machinery and systems for processing architectural and automotive glass; and handling systems. The company is based in Zurich, Switzerland.

Details
Name: Conzzeta AG
CON
Exchange: SWX
Founded:
CHF1,908,516,456
2,065,494
Website: http://www.conzzeta.com
Address: Conzzeta AG
Giesshuebelstrasse 45,
Zurich,
Zurich, 8045,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX CON Series A Registered Shares SIX Swiss Exchange CH CHF 24. Nov 1992
DB HNX1 Series A Registered Shares Deutsche Boerse AG DE EUR 24. Nov 1992
LSE 0QW1 Series A Registered Shares London Stock Exchange GB CHF 24. Nov 1992
Number of employees
Current staff
Staff numbers
5,259
Conzzeta employees.
Industry
Industrial Machinery
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/18 20:46
End of day share price update: 2019/11/15 00:00
Last estimates confirmation: 2019/11/18
Last earnings filing: 2019/08/09
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.