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Georg Fischer

SWX:FI-N
Snowflake Description

Excellent balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FI-N
SWX
CHF4B
Market Cap
  1. Home
  2. CH
  3. Capital Goods
Company description

Georg Fischer AG, together with its subsidiaries, provides piping systems, casting, and machining solutions worldwide. The last earnings update was 118 days ago. More info.


Add to Portfolio Compare Print
FI-N Share Price and Events
7 Day Returns
-2.1%
SWX:FI-N
-0.3%
CH Machinery
-0%
CH Market
1 Year Returns
19%
SWX:FI-N
14.4%
CH Machinery
13.3%
CH Market
FI-N Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Georg Fischer (FI-N) -2.1% 6% 22.3% 19% 12.4% 64.3%
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
  • FI-N outperformed the Machinery industry which returned 14.4% over the past year.
  • FI-N outperformed the Market in Switzerland which returned 13.3% over the past year.
Price Volatility
FI-N
Industry
5yr Volatility vs Market

Value

 Is Georg Fischer 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 Georg Fischer 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 Georg Fischer.

SWX:FI-N Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.3%
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:FI-N
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%) (20.91%))
1.176
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.18
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.28% + (1.176 * 5.96%)
10.29%

Discounted Cash Flow Calculation for SWX:FI-N using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Georg Fischer 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:FI-N DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CHF, Millions) Source Present Value
Discounted (@ 10.29%)
2020 189.00 Analyst x4 171.37
2021 250.00 Analyst x4 205.54
2022 288.30 Est @ 15.32% 214.92
2023 322.05 Est @ 11.71% 217.69
2024 351.61 Est @ 9.18% 215.50
2025 377.65 Est @ 7.41% 209.88
2026 400.94 Est @ 6.17% 202.04
2027 422.19 Est @ 5.3% 192.90
2028 442.00 Est @ 4.69% 183.12
2029 460.86 Est @ 4.27% 173.12
Present value of next 10 years cash flows CHF1,986.00
SWX:FI-N DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CHF460.86 × (1 + 3.28%) ÷ (10.29% – 3.28%)
CHF6,788.37
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CHF6,788.37 ÷ (1 + 10.29%)10
CHF2,550.05
SWX:FI-N Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CHF1,986.00 + CHF2,550.05
CHF4,536.05
Equity Value per Share
(CHF)
= Total value / Shares Outstanding
= CHF4,536.05 / 4.09
CHF1108.16
SWX:FI-N Discount to Share Price
Calculation Result
Value per share (CHF) From above. CHF1,108.16
Current discount Discount to share price of CHF966.00
= -1 x (CHF966.00 - CHF1,108.16) / CHF1,108.16
12.8%

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

Current Discount
Amount off the current price Georg Fischer is available for.
Intrinsic value
13%
Share price is CHF966 vs Future cash flow value of CHF1108.16
Current Discount Checks
For Georg Fischer to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Georg Fischer's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Georg Fischer'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 Georg Fischer's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Georg Fischer's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SWX:FI-N PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in CHF CHF56.77
SWX:FI-N Share Price ** SWX (2019-11-15) in CHF CHF966
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 Georg Fischer.

SWX:FI-N PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SWX:FI-N Share Price ÷ EPS (both in CHF)

= 966 ÷ 56.77

17.02x

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

  • Georg Fischer is good value based on earnings compared to the CH Machinery industry average.
  • Georg Fischer is good value based on earnings compared to the Switzerland market.
Price based on expected Growth
Does Georg Fischer's expected growth come at a high price?
Raw Data
SWX:FI-N PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.02x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
14.4%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:FI-N PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.02x ÷ 14.4%

1.18x

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

  • Georg Fischer is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Georg Fischer's assets?
Raw Data
SWX:FI-N PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in CHF CHF333.17
SWX:FI-N Share Price * SWX (2019-11-15) in CHF CHF966
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:FI-N PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SWX:FI-N Share Price ÷ Book Value per Share (both in CHF)

= 966 ÷ 333.17

2.9x

* Primary Listing of Georg Fischer.

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

  • Georg Fischer is overvalued based on assets compared to the CH Machinery industry average.
X
Value checks
We assess Georg Fischer'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. Georg Fischer 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 Georg Fischer expected to perform in the next 1 to 3 years based on estimates from 8 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
14.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Georg Fischer expected to grow at an attractive rate?
  • Georg Fischer's earnings growth is expected to exceed the low risk savings rate of 3.3%.
Growth vs Market Checks
  • Georg Fischer's earnings growth is expected to exceed the Switzerland market average.
  • Georg Fischer's revenue growth is positive but not above the Switzerland market average.
Annual Growth Rates Comparison
Raw Data
SWX:FI-N Future Growth Rates Data Sources
Data Point Source Value (per year)
SWX:FI-N Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 14.4%
SWX:FI-N Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 1.9%
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:FI-N Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SWX:FI-N Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 4,147 1
2022-12-31 4,027 1
2021-12-31 3,954 395 266 8
2020-12-31 3,799 378 233 8
2019-12-31 3,767 367 191 8
2019-11-18
SWX:FI-N Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2019-06-30 4,108 361 232
2019-03-31 4,354 379 257
2018-12-31 4,599 397 281
2018-09-30 4,589 403 283
2018-06-30 4,579 408 284
2018-03-31 4,374 409 268
2017-12-31 4,168 410 252
2017-09-30 4,029 387 242
2017-06-30 3,890 364 231
2017-03-31 3,825 382 224
2016-12-31 3,760 400 216
2016-09-30 3,749 394 216

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Georg Fischer's earnings are expected to grow by 14.4% yearly, however this is not considered high growth (20% yearly).
  • Georg Fischer's revenue is expected to grow by 1.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SWX:FI-N 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 8 Analyst Estimates (S&P Global) See Below

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

SWX:FI-N 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 65.08 68.97 60.01 8.00
2020-12-31 56.47 59.20 51.98 8.00
2019-12-31 44.99 56.13 41.73 8.00
2019-11-18
SWX:FI-N Past Financials Data
Date (Data in CHF Millions) EPS *
2019-06-30 56.77
2019-03-31 62.71
2018-12-31 68.64
2018-09-30 69.09
2018-06-30 69.54
2018-03-31 65.57
2017-12-31 61.60
2017-09-30 59.22
2017-06-30 56.83
2017-03-31 54.81
2016-12-31 52.81
2016-09-30 52.31

*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.
  • Georg Fischer is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Georg Fischer'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.
Georg Fischer has a total score of 2/6, 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 Georg Fischer 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 Georg Fischer'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.
  • Georg Fischer's year on year earnings growth rate has been positive over the past 5 years.
  • Georg Fischer's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Georg Fischer's 1-year earnings growth is negative, it can't be compared to the CH Machinery industry average.
Earnings and Revenue History
Georg Fischer'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 Georg Fischer Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:FI-N 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 4,108.00 232.00 1,166.00
2019-03-31 4,353.50 256.50 1,206.50
2018-12-31 4,599.00 281.00 1,247.00
2018-09-30 4,589.00 282.50 1,235.50
2018-06-30 4,579.00 284.00 1,224.00
2018-03-31 4,373.50 268.00 1,185.00
2017-12-31 4,168.00 252.00 1,146.00
2017-09-30 4,029.00 241.50 1,119.00
2017-06-30 3,890.00 231.00 1,092.00
2017-03-31 3,825.00 223.50 1,081.50
2016-12-31 3,760.00 216.00 1,071.00
2016-09-30 3,748.50 215.50 1,056.50
2016-06-30 3,737.00 215.00 1,042.00
2016-03-31 3,698.00 201.50 1,025.50
2015-12-31 3,659.00 188.00 1,009.00
2015-09-30 3,700.00 180.00 1,013.00
2015-06-30 3,741.00 172.00 1,017.00
2015-03-31 3,779.50 178.00 1,022.00
2014-12-31 3,818.00 184.00 1,027.00
2014-09-30 3,814.50 165.50 1,024.00
2014-06-30 3,811.00 147.00 1,021.00
2014-03-31 3,798.50 143.00 1,014.00
2013-12-31 3,786.00 139.00 1,007.00
2013-09-30 3,748.50 136.50 999.00
2013-06-30 3,711.00 134.00 991.00
2013-03-31 3,727.00 133.00 996.50
2012-12-31 3,743.00 132.00 1,002.00

*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.
  • Georg Fischer has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Georg Fischer used its assets more efficiently than the CH Machinery industry average last year based on Return on Assets.
  • Georg Fischer's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Georg Fischer'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.
Georg Fischer has a total score of 2/6, 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 Georg Fischer'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 Georg Fischer's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Georg Fischer is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Georg Fischer's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Georg Fischer's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.6x 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 Georg Fischer Company Filings, last reported 4 months ago.

SWX:FI-N Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 1,396.00 824.00 420.00
2019-03-31 1,396.00 824.00 420.00
2018-12-31 1,428.00 780.00 539.00
2018-09-30 1,428.00 780.00 539.00
2018-06-30 1,339.00 1,014.00 534.00
2018-03-31 1,339.00 1,014.00 534.00
2017-12-31 1,369.00 816.00 628.00
2017-09-30 1,369.00 816.00 628.00
2017-06-30 1,241.00 811.00 496.00
2017-03-31 1,241.00 811.00 496.00
2016-12-31 1,200.00 793.00 579.00
2016-09-30 1,200.00 793.00 579.00
2016-06-30 1,111.00 812.00 418.00
2016-03-31 1,111.00 812.00 418.00
2015-12-31 1,130.00 797.00 559.00
2015-09-30 1,130.00 797.00 559.00
2015-06-30 1,003.00 792.00 356.00
2015-03-31 1,003.00 792.00 356.00
2014-12-31 1,104.00 734.00 380.00
2014-09-30 1,104.00 734.00 380.00
2014-06-30 987.00 1,003.00 573.00
2014-03-31 987.00 1,003.00 573.00
2013-12-31 978.00 1,005.00 653.00
2013-09-30 978.00 1,005.00 653.00
2013-06-30 1,016.00 676.00 280.00
2013-03-31 1,016.00 676.00 280.00
2012-12-31 979.00 672.00 338.00
  • Georg Fischer's level of debt (59%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (101.2% vs 59% today).
  • Debt is well covered by operating cash flow (43.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 11.5x coverage).
X
Financial health checks
We assess Georg Fischer'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. Georg Fischer has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

Dividends

 What is Georg Fischer'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
2.59%
Current annual income from Georg Fischer dividends. Estimated to be 2.58% next year.
If you bought CHF2,000 of Georg Fischer shares you are expected to receive CHF52 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?
  • Georg Fischer's pays a higher dividend yield than the bottom 25% of dividend payers in Switzerland (1.85%).
  • Georg Fischer'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:FI-N 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 8 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:FI-N Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 26.38 8.00
2020-12-31 25.13 8.00
2019-12-31 23.13 8.00
2019-11-18
SWX:FI-N Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2019-02-27 25.000 2.798
2019-02-21 25.000 2.717
2018-02-22 23.000 2.140
2017-02-28 20.000 1.834
2016-03-23 18.000 2.208
2015-02-24 17.000 2.621
2014-02-25 16.000 2.603
2014-02-14 16.000 2.498
2013-03-26 15.000 2.928
2012-02-28 15.000 4.098
2012-02-16 15.000 3.616
2011-02-18 10.000 2.520
2010-07-19 0.000 0.000
2010-03-02 0.000 0.000
2010-03-01 0.000 0.000
2009-01-05 5.000 2.314

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 Georg Fischer's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.4x coverage).
X
Income/ dividend checks
We assess Georg Fischer'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 Georg Fischer afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Georg Fischer 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 Georg Fischer'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
Andreas Müller
AGE 49
TENURE AS CEO 0.6 years
CEO Bio

Mr. Andreas Müller has been Chief Executive Officer, President and Head of Corporate Development at Georg Fischer AG since April 17, 2019. He was the Chief Financial Officer of Georg Fischer AG since January 1, 2017 until April 17, 2019 and its Head of Corporate Finance & Controlling since January 7, 2017 until April 17, 2019. Mr. Müller has a vast experience in Finance and Controlling, M&A, Risk Management, IT and Strategy. Mr. Muller has started his career as product manager at GF Piping Systems in 1995. He was Chief Financial Officer (CFO) of GF Automotive (2008 - 2016); Head of Controlling of the Business Unit Industry & Utility of GF Piping Systems, Schaffhausen (Switzerland), Commercial Managing Director of Georg Fischer Simona Fluorpolymer Products GmbH, Ettenheim (Germany) (2002 – 2008); Head of Finance and Operations of the GF Piping Systems companies, Australia (2000 – 2002); Head of Controlling of GF Piping Systems, Schaffhausen (Switzerland) (1998 – 2000); Head of Controlling of the Business Unit Industry of GF Piping Systems (1998 – 2000); CFO of the Business Unit Asia of GF Piping Systems, Schaffhausen (Switzerland) (1996 – 1998) and Product Manager Polypropylen at GF Piping Systems, Schaffhausen (Switzerland) (1995 – 1996). He studied from Hochschule Konstanz (D) University of Applied Sciences (HTWG) with specialization in Management and Controlling. He is a graduate in Business Administration (Dipl.-Betriebswirt FH).

CEO Compensation
  • Insufficient data for Andreas to compare compensation growth.
  • Insufficient data for Andreas to establish whether their remuneration is reasonable compared to companies of similar size in Switzerland.
Management Team Tenure

Average tenure and age of the Georg Fischer management team in years:

0.6
Average Tenure
50
Average Age
  • The average tenure for the Georg Fischer management team is less than 2 years, this suggests a new team.
Management Team

Andreas Müller

TITLE
CEO, President & Head of Corporate Development
AGE
49
TENURE
0.6 yrs

Mads Joergensen

TITLE
CFO and Head of Corporate Finance & Controlling
AGE
50
TENURE
0.6 yrs

Daniel Bösiger

TITLE
Head of Investor Relations & Head of Corporate Controlling

Marc Lahusen

TITLE
Head of Law & Compliance

Beat Römer

TITLE
Head of Corporate Communications

Peter Ziswiler

TITLE
Head of Corporate Human Resources

Daniel Vaterlaus

TITLE
Head of Risk Management & Taxes Corporation

Helmut Elben

TITLE
Head of Corporate Planning and Information Technology

Pascal Boillat

TITLE
Head of GF Machining Solutions
AGE
64
TENURE
6.8 yrs

Holger Henss

TITLE
Head of Corporate Treasury
Board of Directors Tenure

Average tenure and age of the Georg Fischer board of directors in years:

7.7
Average Tenure
61
Average Age
  • The tenure for the Georg Fischer board of directors is about average.
Board of Directors

Andreas Koopmann

TITLE
Independent Chairman of the Board
COMPENSATION
CHF528K
AGE
68
TENURE
7.8 yrs

Yves Serra

TITLE
Independent Vice Chairman
COMPENSATION
CHF3M
AGE
66
TENURE
0.6 yrs

Hubert Achermann

TITLE
Independent Director
COMPENSATION
CHF279K
AGE
68
TENURE
5.8 yrs

Eveline Saupper

TITLE
Independent Director
COMPENSATION
CHF240K
AGE
61
TENURE
4.7 yrs

Roman Boutellier

TITLE
Independent Director
COMPENSATION
CHF216K
AGE
69
TENURE
20.8 yrs

ZZ Zhang

TITLE
Independent Director
COMPENSATION
CHF243K
AGE
58
TENURE
14.8 yrs

Jasmin Staiblin

TITLE
Independent Director
COMPENSATION
CHF219K
AGE
49
TENURE
8.7 yrs

Roger Michaelis

TITLE
Independent Director
COMPENSATION
CHF254K
AGE
60
TENURE
7.7 yrs

Riet Cadonau

TITLE
Non-Executive Director
COMPENSATION
CHF219K
AGE
58
TENURE
3.7 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 Georg Fischer'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. Georg Fischer 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 Share Price Volatility Should You Expect For Georg Fischer AG (VTX:FI-N)?

Anyone researching Georg Fischer AG (VTX:FI-N) might want to consider the historical volatility of the share price. … View our latest analysis for Georg Fischer What we can learn from FI-N's beta value Given that it has a beta of 1.2, we can surmise that the Georg Fischer share price has been fairly sensitive to market volatility (over the last 5 years). … What this means for you: Since Georg Fischer tends to moves up when the market is going up, and down when it's going down, potential investors may wish to reflect on the overall market, when considering the stock.

Simply Wall St -

Does Georg Fischer AG's (VTX:FI-N) August Stock Price Reflect Its Future Growth?

Georg Fischer AG (VTX:FI-N) is a stock well-positioned for future growth, but many investors are wondering whether its last closing price of CHF785 is based on unrealistic expectations. … Analysts are predicting good growth prospects for Georg Fischer over the next couple of years. … However, to properly examine the value of a high-growth stock such as Georg Fischer, we must reflect its earnings growth into the valuation.

Simply Wall St -

Why Fundamental Investors Might Love Georg Fischer AG (VTX:FI-N)

By this I mean, I look at stocks holistically, from their financial health to their future outlook. … In the case of Georg Fischer AG (VTX:FI-N), it is a dependable dividend payer that has been able to sustain great financial health over the past. … Excellent balance sheet average dividend payer FI-N's ability to maintain an adequate level of cash to meet upcoming liabilities is a good sign for its financial health.

Simply Wall St -

Do You Like Georg Fischer AG (VTX:FI-N) At This P/E Ratio?

View our latest analysis for Georg Fischer How Do I Calculate A Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Georg Fischer: P/E of 15.28 = CHF867.5 ÷ CHF56.77 (Based on the year to June 2019.) 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 Georg Fischer's P/E Ratio Compare To Its Peers?

Simply Wall St -

Georg Fischer AG (VTX:FI-N): Poised For Long-Term Success?

The latest earnings update Georg Fischer AG (VTX:FI-N) released in February 2019 showed that the company experienced a strong tailwind, eventuating to a double-digit earnings growth of 12%. … Below, I've presented key growth figures on how market analysts view Georg Fischer's earnings growth trajectory over the next couple of years and whether the future looks even brighter than the past. … Check out our latest analysis for Georg Fischer Analysts' expectations for next year seems pessimistic, with earnings declining by -6.2%.

Simply Wall St -

Is Georg Fischer AG (VTX:FI-N) Better Than Average At Deploying Capital?

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 Georg Fischer: 0.16 = CHF379m ÷ (CHF3.4b - CHF1.1b) (Based on the trailing twelve months to December 2018.) Therefore, Georg Fischer has an ROCE of 16%. … What Are Current Liabilities, And How Do They Affect Georg Fischer's ROCE? … With this level of current liabilities, Georg Fischer's ROCE is boosted somewhat.

Simply Wall St -

Can Georg Fischer AG's (VTX:FI-N) ROE Continue To Surpass The Industry Average?

See our latest analysis for Georg Fischer How Do You Calculate Return On Equity? … The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Georg Fischer: 20% = CHF281m ÷ CHF1.4b (Based on the trailing twelve months to December 2018.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Georg Fischer's Debt And Its 20% ROE Although Georg Fischer does use debt, its debt to equity ratio of 0.55 is still low.

Simply Wall St -

What Kind Of Shareholder Appears On The Georg Fischer AG's (VTX:FI-N) Shareholder Register?

See our latest analysis for Georg Fischer SWX:FI-N Ownership Summary, June 25th 2019 What Does The Institutional Ownership Tell Us About Georg Fischer? … We can see that Georg Fischer does have institutional investors; and they hold 42% of the stock. … Insider Ownership Of Georg Fischer The definition of an insider can differ slightly between different countries, but members of the board of directors always count.

Simply Wall St -

Here's Why I Think Georg Fischer (VTX:FI-N) Is An Interesting Stock

But as Peter Lynch said in One Up On Wall Street, 'Long shots almost never pay off.' If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in Georg Fischer (VTX:FI-N). … As I already mentioned, Georg Fischer is a growing business, which is what I like to see. … Although Georg Fischer certainly looks good to me, I would like it more if insiders were buying up shares.

Simply Wall St -

Is Georg Fischer AG (VTX:FI-N) Trading At A 20% Discount?

Today we will run through one way of estimating the intrinsic value of Georg Fischer AG (VTX:FI-N) by projecting its future cash flows and then discounting them to today's value. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (CHF, Millions) CHF247.25 CHF252.75 CHF288.75 CHF318.48 CHF344.56 CHF367.70 CHF388.60 CHF407.88 CHF426.05 CHF443.52 Growth Rate Estimate Source Analyst x4 Analyst x4 Analyst x4 Est @ 10.3% Est @ 8.19% Est @ 6.72% Est @ 5.68% Est @ 4.96% Est @ 4.46% Est @ 4.1% Present Value (CHF, Millions) Discounted @ 10.25% CHF224.27 CHF207.96 CHF215.50 CHF215.60 CHF211.58 CHF204.80 CHF196.33 CHF186.92 CHF177.10 CHF167.23 Present Value of 10-year Cash Flow (PVCF)= CHF2.01b "Est" = FCF growth rate estimated by Simply Wall St The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = CHF444m × (1 + 3.3%) ÷ (10.2% – 3.3%) = CHF6.6b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = CHFCHF6.6b ÷ ( 1 + 10.2%)10 = CHF2.48b The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is CHF4.49b.

Simply Wall St -

Company Info

Description

Georg Fischer AG, together with its subsidiaries, provides piping systems, casting, and machining solutions worldwide. The company’s GF Piping Systems segment offers plastic and metal piping systems for the transportation of water, gas, and other liquids, as well as corresponding services for industry, utilities, and building services sectors. This segment provides fittings, valves, pipes, and automation and jointing technologies for various water cycle applications. Its GF Casting segment develops and manufactures light metal and iron cast components and systems for use in the automotive industry, aerospace and energy markets, and off-highway vehicles, as well as for various industrial applications. The company’s GF Machining Solutions segment provides machines, system solutions, and customer services for manufacturing molds, tools, and parts in the aerospace, information and communication technology, medical, and automotive industries. This segment offers milling, wire-cutting, and die-sinking electric discharge machines; spindles; and laser texturing, additive manufacturing, tooling, and automation services, as well as digitalization solutions and customer services. The company was founded in 1802 and is headquartered in Schaffhausen, Switzerland.

Details
Name: Georg Fischer AG
FI-N
Exchange: SWX
Founded: 1802
CHF3,939,812,800
4,093,312
Website: http://www.georgfischer.com
Address: Georg Fischer AG
Amsler-Laffon-Strasse 9,
Schaffhausen,
Schaffhausen, 8201,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX FI-N Registered Shares SIX Swiss Exchange CH CHF 02. Jan 1992
DB GFIN Registered Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0QP4 Registered Shares London Stock Exchange GB CHF 02. Jan 1992
Number of employees
Current staff
Staff numbers
14,938
Georg Fischer employees.
Industry
Industrial Machinery
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/18 20:36
End of day share price update: 2019/11/15 00:00
Last estimates confirmation: 2019/11/08
Last earnings filing: 2019/07/23
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.