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COLTENE Holding

SWX:CLTN
Snowflake Description

Proven track record with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CLTN
SWX
CHF487M
Market Cap
  1. Home
  2. CH
  3. Healthcare
Company description

COLTENE Holding AG develops, manufactures, and sells consumables and small equipment for dental practices in Europe, the Middle East, Africa, North America, Latin America, and Asia/Oceania. The last earnings update was 84 days ago. More info.


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CLTN Share Price and Events
7 Day Returns
0.9%
SWX:CLTN
0.7%
CH Medical Equipment
-0.4%
CH Market
1 Year Returns
-10.5%
SWX:CLTN
33.3%
CH Medical Equipment
12.3%
CH Market
CLTN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
COLTENE Holding (CLTN) 0.9% 6.6% 6% -10.5% 14.9% 34.1%
CH Medical Equipment 0.7% 2.5% 4.3% 33.3% 85.6% 109.4%
CH Market -0.4% 2.6% 6.7% 12.3% 21.5% 13.4%
1 Year Return vs Industry and Market
  • CLTN underperformed the Medical Equipment industry which returned 33.3% over the past year.
  • CLTN underperformed the Market in Switzerland which returned 12.3% over the past year.
Price Volatility
CLTN
Industry
5yr Volatility vs Market

Value

 Is COLTENE 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 COLTENE 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 COLTENE Holding.

SWX:CLTN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9%
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:CLTN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CH Govt Bond Rate 3.3%
Equity Risk Premium S&P Global 6%
Medical Equipment Unlevered Beta Simply Wall St/ S&P Global 0.84
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.84 (1 + (1- 18%) (13.62%))
0.956
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.96
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.28% + (0.956 * 5.96%)
8.97%

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

The calculations below outline how an intrinsic value for COLTENE 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:CLTN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CHF, Millions) Source Present Value
Discounted (@ 8.97%)
2020 27.90 Analyst x2 25.60
2021 31.15 Analyst x2 26.23
2022 26.60 Analyst x1 20.56
2023 28.10 Analyst x1 19.93
2024 28.10 Est @ 0.01% 18.29
2025 28.38 Est @ 0.99% 16.95
2026 28.86 Est @ 1.67% 15.82
2027 29.48 Est @ 2.15% 14.83
2028 30.21 Est @ 2.49% 13.94
2029 31.04 Est @ 2.73% 13.15
Present value of next 10 years cash flows CHF185.00
SWX:CLTN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CHF31.04 × (1 + 3.28%) ÷ (8.97% – 3.28%)
CHF562.78
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CHF562.78 ÷ (1 + 8.97%)10
CHF238.37
SWX:CLTN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CHF185.00 + CHF238.37
CHF423.37
Equity Value per Share
(CHF)
= Total value / Shares Outstanding
= CHF423.37 / 5.98
CHF70.85
SWX:CLTN Discount to Share Price
Calculation Result
Value per share (CHF) From above. CHF70.85
Current discount Discount to share price of CHF81.80
= -1 x (CHF81.80 - CHF70.85) / CHF70.85
-15.5%

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

  • The current share price of COLTENE Holding is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 COLTENE Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are COLTENE Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SWX:CLTN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in CHF CHF2.99
SWX:CLTN Share Price ** SWX (2019-11-13) in CHF CHF81.8
Switzerland Medical Equipment Industry PE Ratio Median Figure of 7 Publicly-Listed Medical Equipment Companies 33.29x
Switzerland Market PE Ratio Median Figure of 171 Publicly-Listed Companies 19.37x

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

** Primary Listing of COLTENE Holding.

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

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

= 81.8 ÷ 2.99

27.39x

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

  • COLTENE Holding is good value based on earnings compared to the CH Medical Equipment industry average.
  • COLTENE Holding is overvalued based on earnings compared to the Switzerland market.
Price based on expected Growth
Does COLTENE Holding's expected growth come at a high price?
Raw Data
SWX:CLTN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 27.39x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
19.1%per year
Switzerland Medical Equipment Industry PEG Ratio Median Figure of 6 Publicly-Listed Medical Equipment Companies 2.34x
Switzerland Market PEG Ratio Median Figure of 124 Publicly-Listed Companies 2.14x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 27.39x ÷ 19.1%

1.44x

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

  • COLTENE Holding is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on COLTENE Holding's assets?
Raw Data
SWX:CLTN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in CHF CHF13.18
SWX:CLTN Share Price * SWX (2019-11-13) in CHF CHF81.8
Switzerland Medical Equipment Industry PB Ratio Median Figure of 9 Publicly-Listed Medical Equipment Companies 6.21x
Switzerland Market PB Ratio Median Figure of 214 Publicly-Listed Companies 1.65x
SWX:CLTN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 81.8 ÷ 13.18

6.21x

* Primary Listing of COLTENE Holding.

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

  • COLTENE Holding is good value based on assets compared to the CH Medical Equipment industry average.
X
Value checks
We assess COLTENE 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 Medical Equipment 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 Medical Equipment industry average (and greater than 0)? (1 check)
  5. COLTENE 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 COLTENE Holding expected to perform in the next 1 to 3 years based on estimates from 3 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
19.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is COLTENE Holding expected to grow at an attractive rate?
  • COLTENE Holding's earnings growth is expected to exceed the low risk savings rate of 3.3%.
Growth vs Market Checks
  • COLTENE Holding's earnings growth is expected to exceed the Switzerland market average.
  • COLTENE Holding's revenue growth is expected to exceed the Switzerland market average.
Annual Growth Rates Comparison
Raw Data
SWX:CLTN Future Growth Rates Data Sources
Data Point Source Value (per year)
SWX:CLTN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 19.1%
SWX:CLTN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 4.1%
Switzerland Medical Equipment Industry Earnings Growth Rate Market Cap Weighted Average 38.7%
Switzerland Medical Equipment Industry Revenue Growth Rate Market Cap Weighted Average 7.3%
Switzerland Market Earnings Growth Rate Market Cap Weighted Average 9.9%
Switzerland Market Revenue Growth Rate Market Cap Weighted Average 3.6%

*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:CLTN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SWX:CLTN Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 331 2
2022-12-31 322 2
2021-12-31 308 40 32 3
2020-12-31 299 36 29 3
2019-12-31 292 33 24 3
2019-11-14
SWX:CLTN Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2019-06-30 254 25 17
2019-03-31 229 25 16
2018-12-31 204 25 15
2018-09-30 190 23 17
2018-06-30 176 22 19
2018-03-31 172 22 19
2017-12-31 168 22 19
2017-09-30 166 24 18
2017-06-30 163 26 16
2017-03-31 162 24 17
2016-12-31 161 23 17
2016-09-30 159 21 17

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • COLTENE Holding's earnings are expected to grow by 19.1% yearly, however this is not considered high growth (20% yearly).
  • COLTENE Holding's revenue is expected to grow by 4.1% 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:CLTN 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 3 Analyst Estimates (S&P Global) See Below

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

SWX:CLTN 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 5.38 5.46 5.34 3.00
2020-12-31 4.87 5.01 4.69 3.00
2019-12-31 4.09 4.56 3.68 3.00
2019-11-14
SWX:CLTN Past Financials Data
Date (Data in CHF Millions) EPS *
2019-06-30 2.99
2019-03-31 3.07
2018-12-31 3.16
2018-09-30 3.73
2018-06-30 4.55
2018-03-31 4.53
2017-12-31 4.52
2017-09-30 4.17
2017-06-30 3.83
2017-03-31 3.96
2016-12-31 4.10
2016-09-30 4.04

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

SWX:CLTN Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 253.77 16.69 100.23
2019-03-31 228.87 15.80 91.26
2018-12-31 203.98 14.91 82.29
2018-09-30 189.79 16.67 77.44
2018-06-30 175.60 19.19 71.17
2018-03-31 171.81 19.13 69.59
2017-12-31 168.02 19.06 68.02
2017-09-30 165.56 17.59 66.92
2017-06-30 163.11 16.12 65.82
2017-03-31 161.90 16.69 65.53
2016-12-31 160.70 17.27 65.24
2016-09-30 158.77 17.01 64.36
2016-06-30 156.85 16.75 63.48
2016-03-31 155.69 15.04 62.94
2015-12-31 154.54 13.34 62.40
2015-09-30 157.10 13.61 63.60
2015-06-30 159.67 13.89 64.81
2015-03-31 161.05 14.76 64.85
2014-12-31 162.42 15.63 64.89
2014-09-30 161.76 14.68 60.44
2014-06-30 161.10 13.72 55.99
2014-03-31 160.59 13.46 56.52
2013-12-31 160.09 13.19 57.05
2013-09-30 160.11 12.50 56.64
2013-06-30 160.12 11.81 56.23
2013-03-31 159.11 10.79 55.50
2012-12-31 158.09 9.78 54.78

*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.
  • COLTENE Holding has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • COLTENE Holding used its assets more efficiently than the CH Medical Equipment industry average last year based on Return on Assets.
  • COLTENE Holding has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess COLTENE 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 Medical Equipment 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.
COLTENE Holding has a total score of 4/6, 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 COLTENE 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 COLTENE Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • COLTENE Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • COLTENE Holding's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of COLTENE 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 2x 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 COLTENE Holding Company Filings, last reported 4 months ago.

SWX:CLTN Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 78.74 66.33 20.48
2019-03-31 78.74 66.33 20.48
2018-12-31 296.17 49.06 20.90
2018-09-30 296.17 49.06 20.90
2018-06-30 116.02 12.69 9.70
2018-03-31 116.02 12.69 9.70
2017-12-31 121.71 8.28 22.04
2017-09-30 121.71 8.28 22.04
2017-06-30 104.79 8.03 10.39
2017-03-31 104.79 8.03 10.39
2016-12-31 112.25 12.92 21.57
2016-09-30 112.25 12.92 21.57
2016-06-30 98.42 14.96 8.73
2016-03-31 98.42 14.96 8.73
2015-12-31 101.58 13.78 14.64
2015-09-30 101.58 13.78 14.64
2015-06-30 90.08 18.45 8.81
2015-03-31 90.08 18.45 8.81
2014-12-31 104.12 20.80 18.28
2014-09-30 104.12 20.80 18.28
2014-06-30 94.27 21.97 6.16
2014-03-31 94.27 21.97 6.16
2013-12-31 97.65 16.83 6.51
2013-09-30 97.65 16.83 6.51
2013-06-30 92.18 32.66 4.52
2013-03-31 92.18 32.66 4.52
2012-12-31 93.19 24.57 4.00
  • COLTENE Holding's level of debt (83%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (23.3% vs 83% today).
  • Debt is well covered by operating cash flow (38.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 42.6x coverage).
X
Financial health checks
We assess COLTENE 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. COLTENE Holding has a total score of 4/6, 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 COLTENE 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
3.67%
Current annual income from COLTENE Holding dividends. Estimated to be 3.89% next year.
If you bought CHF2,000 of COLTENE Holding shares you are expected to receive CHF73 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?
  • COLTENE Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Switzerland (1.85%).
  • COLTENE Holding's dividend is above the markets top 25% of dividend payers in Switzerland (3.63%).
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:CLTN 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 3 Analyst Estimates (S&P Global) See Below
Switzerland Medical Equipment Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 1%
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:CLTN Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 3.52 3.00
2020-12-31 3.15 3.00
2019-12-31 2.86 3.00
2019-11-14
SWX:CLTN Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2019-04-04 3.000 3.568
2018-03-06 3.000 3.074
2017-02-22 2.700 2.865
2016-03-03 2.200 3.191
2015-03-04 2.500 3.798
2014-02-28 2.200 3.794
2013-03-08 1.800 3.903
2012-03-15 1.100 3.716
2011-02-24 1.750 4.498
2010-03-01 3.100 5.517
2009-01-05 4.300 9.239

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of COLTENE Holding's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.5x coverage).
X
Income/ dividend checks
We assess COLTENE 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 COLTENE Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. COLTENE 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 COLTENE 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
Martin Schaufelberger
COMPENSATION CHF945,217
AGE 55
TENURE AS CEO 7.4 years
CEO Bio

Mr. Martin Schaufelberger has been the Chief Executive Officer of COLTENE Holding AG since June 1, 2012. Mr. Schaufelberger commands a long and very successful experience in leading mid-sized, companies operating worldwide. He served as Chief Executive Officer of Kunststoff Schwanden AG since 2007 after joining COLTENE Holding in 1998 as head of Marketing and Sales. He was responsible for the Japanese subsidiary of Zellweger Uster AG in the mid nineties, after which he managed the sales and strategic marketing of the business unit Yarn Clearing until 1998. Mr. Schaufelberger complemented his education as an electronic engineer with an MBA Marketing, City University of Seattle, Zurich and Seattle in 1993.

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

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

4.8
Average Tenure
55
Average Age
  • The tenure for the COLTENE Holding management team is about average.
Management Team

Martin Schaufelberger

TITLE
Chief Executive Officer
COMPENSATION
CHF945K
AGE
55
TENURE
7.4 yrs

Gerhard Mahrle

TITLE
AGE
62
TENURE
5.8 yrs

Stefan Helsing

TITLE
Chief Operating Officer
AGE
61
TENURE
1 yrs

Werner Barth

TITLE
Vice President of Marketing
AGE
53
TENURE
4.8 yrs

Christophe Loretan

TITLE
Vice President of Sales
AGE
49
TENURE
4.8 yrs
Board of Directors Tenure

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

5.2
Average Tenure
54
Average Age
  • The tenure for the COLTENE Holding board of directors is about average.
Board of Directors

Nick Huber

TITLE
Chairman of the Board
COMPENSATION
CHF114K
AGE
55

Matthew Robin

TITLE
Non-Executive Director
COMPENSATION
CHF91K
AGE
54
TENURE
13.8 yrs

Erwin Locher

TITLE
Non-Executive Director
COMPENSATION
CHF88K
AGE
66
TENURE
10.6 yrs

Roland Weiger

TITLE
Non-Executive Director
COMPENSATION
CHF80K
AGE
58
TENURE
6.6 yrs

Jürgen Rauch

TITLE
Non-Executive Director
COMPENSATION
CHF70K
AGE
52
TENURE
3.8 yrs

Astrid Waser

TITLE
Non-Executive Director
COMPENSATION
CHF80K
AGE
48
TENURE
2.7 yrs

Allison Zwingenberger

TITLE
Non-Executive Director
COMPENSATION
CHF20K
AGE
49
TENURE
1.2 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 COLTENE 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. COLTENE 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

Why You Should Like COLTENE Holding AG’s (VTX:CLTN) ROCE

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 COLTENE Holding:0.31 = CHF26m ÷ (CHF185m - CHF99m) (Based on the trailing twelve months to June 2019.) So, COLTENE Holding has an ROCE of 31%. … Do COLTENE Holding's Current Liabilities Skew Its ROCE? … 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 -

If You Had Bought COLTENE Holding (VTX:CLTN) Stock Five Years Ago, You Could Pocket A 43% Gain Today

COLTENE Holding AG (VTX:CLTN) shareholders might be concerned after seeing the share price drop 10% in the last quarter. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … We note that for COLTENE Holding the TSR over the last 5 years was 70%, which is better than the share price return mentioned above.

Simply Wall St -

How Does COLTENE Holding AG (VTX:CLTN) Affect Your Portfolio Volatility?

If you're interested in COLTENE Holding AG (VTX:CLTN), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … What this means for you: Since COLTENE Holding is not heavily influenced by market moves, its share price is probably far more dependend on company specific developments.

Simply Wall St -

Brief Commentary On COLTENE Holding AG's (VTX:CLTN) Fundamentals

By this I mean, I look at stocks holistically, from their financial health to their future outlook. … In the case of COLTENE Holding AG (VTX:CLTN), it is a company with strong financial health as well as a excellent growth outlook. … Flawless balance sheet with high growth potential Investors in search for stocks with room to flourish should look no further than CLTN, with its expected earnings growth of 23% which is expected to flow into an impressive return on equity of 27% over the next couple of years.

Simply Wall St -

Is COLTENE Holding AG's (VTX:CLTN) ROE Of 5.0% Concerning?

One way to conceptualize this, is that for each CHF1 of shareholders' equity it has, the company made CHF0.050 in profit. … The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for COLTENE Holding: 5.0% = CHF15m ÷ CHF296m (Based on the trailing twelve months to December 2018.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Does COLTENE Holding Have A Good Return On Equity?

Simply Wall St -

Does COLTENE Holding AG (VTX:CLTN) Have A Place In Your Dividend Stock Portfolio?

SWX:CLTN Historical Dividend Yield, July 24th 2019 Payout ratios Companies (usually) pay dividends out of their earnings. If a company is paying more than it earns, the dividend might have to be cut. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. In the last year, COLTENE Holding paid out 95% of its profit as dividends. With a payout ratio this high, we'd say its dividend is not well covered by earnings. This may be fine if earnings are growing, but it might not take much of a downturn for the dividend to come under pressure. In addition to comparing dividends against profits, we should inspect whether the company generated enough cash to pay its dividend. With a cash payout ratio of 109%, COLTENE Holding's dividend payments are poorly covered by cash flow. As COLTENE Holding's dividend was not well covered by either earnings or cash flow, we would be concerned that this dividend could be at risk over the long term. Is COLTENE Holding's Balance Sheet Risky? As COLTENE Holding's dividend was not well covered by earnings, we need to check its balance sheet for signs of financial distress. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. Net debt to EBITDA is a measure of a company's total debt. Net interest cover measures the ability to meet interest payments. Essentially we check that a) the company does not have too much debt, and b) that it can afford to pay the interest. … COLTENE Holding's dividend has been cut sharply at least once, so it hasn't fallen by 3.5% every year, but this is a decent approximation of the long term change. … We struggle to make a case for buying COLTENE Holding for its dividend, given that payments have shrunk over the past ten years.

Simply Wall St -

COLTENE Holding AG (VTX:CLTN): What We Can Expect From This Growth Stock

Based on COLTENE Holding AG's (VTX:CLTN) earnings update in December 2018, the consensus outlook from analysts appear highly confident, as earnings are expected to increase by more than twofold next year, against the historical 5-year average growth rate of 6.5%. … See our latest analysis for COLTENE Holding What can we expect from COLTENE Holding in the longer term? … SWX:CLTN Past and Future Earnings, July 17th 2019 From the current net income level of CHF15m and the final forecast of CHF36m by 2022, the annual rate of growth for CLTN’s earnings is 23%.

Simply Wall St -

Here's How P/E Ratios Can Help Us Understand COLTENE Holding AG (VTX:CLTN)

The formula for price to earnings is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for COLTENE Holding: P/E of 27.31 = CHF86.4 ÷ CHF3.16 (Based on the trailing twelve months to December 2018.) Is A High P/E Ratio Good? … SWX:CLTN Price Estimation Relative to Market, July 9th 2019 Its relatively low P/E ratio indicates that COLTENE Holding shareholders think it will struggle to do as well as other companies in its industry classification. … The Verdict On COLTENE Holding's P/E Ratio COLTENE Holding has a P/E of 27.3.

Simply Wall St -

COLTENE Holding (VTX:CLTN) Seems To Use Debt Quite Sensibly

We can see that COLTENE Holding AG (VTX:CLTN) does use debt in its business. … Since COLTENE Holding does have net debt, we think it is worthwhile for shareholders to keep an eye on the balance sheet, over time. … Over the most recent three years, COLTENE Holding recorded free cash flow worth 63% of its EBIT, which is around normal, given free cash flow excludes interest and tax.

Simply Wall St -

What Kind Of Shareholders Own COLTENE Holding AG (VTX:CLTN)?

Insider Ownership Of COLTENE Holding The definition of company insiders can be subjective, and does vary between jurisdictions. … General Public Ownership The general public, who are mostly retail investors, collectively hold 55% of COLTENE Holding shares. … Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.

Simply Wall St -

Company Info

Description

COLTENE Holding AG develops, manufactures, and sells consumables and small equipment for dental practices in Europe, the Middle East, Africa, North America, Latin America, and Asia/Oceania. It offers restoration products, including composites, bulk-fill composites, CAD/CAM solutions, composite veneering systems, core build-ups, bondings, etching gels, temporary materials, luting, curing lights, characterizations, and parapulpal pins; and endodontics products, such as posts, rotary and hand files, irrigation solutions, obturation and sealing materials, Gutta-percha and paper points, endo engines, apex locators, endo accessories, and medicaments. The company also provides prosthetics comprising bite registration, retractions, A-silicones, C-silicones, and accessories; and treatment auxiliaries consisting of dental rolls and dispensers, cotton pellets and dispensers, aspirator tips, dental dams and dam kits, dental dam clamps and accessories, dental scalers, electro surgery, surgical sundries, and occlusion verification products. In addition, it offers infection control products, which include ultrasonic cleaning units, face masks, patient bibs, and sterile and non-sterile covers; rotary instruments, such as diamond and carbide burs, polishers, kits, and accessories; and laboratory products comprising gingiva masks, lab putty, model making, waxes, occlusion control, accessories, HP burs, and silicone polishers. The company was formerly known as Medisize Holding AG and changed its name to COLTENE Holding AG in April 2008. COLTENE Holding AG was founded in 2005 and is headquartered in Altstätten, Switzerland.

Details
Name: COLTENE Holding AG
CLTN
Exchange: SWX
Founded: 2005
CHF487,008,629
5,975,566
Website: http://www.coltene.com
Address: COLTENE Holding AG
Feldwiesenstrasse 20,
Altstätten,
St. Gallen, 9450,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX CLTN Registered Shares SIX Swiss Exchange CH CHF 23. Jun 2006
OTCPK CLHL.F Registered Shares Pink Sheets LLC US USD 23. Jun 2006
DB M3Z Registered Shares Deutsche Boerse AG DE EUR 23. Jun 2006
LSE 0QP7 Registered Shares London Stock Exchange GB CHF 23. Jun 2006
Number of employees
Current staff
Staff numbers
1,366
COLTENE Holding employees.
Industry
Health Care Supplies
Healthcare
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/14 20:56
End of day share price update: 2019/11/13 00:00
Last estimates confirmation: 2019/08/23
Last earnings filing: 2019/08/22
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.