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Tamedia

SWX:TAMN
Snowflake Description

Undervalued with excellent balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TAMN
SWX
CHF988M
Market Cap
  1. Home
  2. CH
  3. Media
Company description

Tamedia AG, a media company, publishes newspapers, magazines, and online media publications in Switzerland. The last earnings update was 80 days ago. More info.


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TAMN Share Price and Events
7 Day Returns
1%
SWX:TAMN
-1.4%
Europe Media
-0.3%
CH Market
1 Year Returns
-16.6%
SWX:TAMN
-2.8%
Europe Media
13.4%
CH Market
TAMN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tamedia (TAMN) 1% 0.4% -11.7% -16.6% -40.7% -24.8%
Europe Media -1.4% 0.9% 2.2% -2.8% -12.5% -15.2%
CH Market -0.3% 2% 5.7% 13.4% 21% 14%
1 Year Return vs Industry and Market
  • TAMN underperformed the Media industry which returned -2.8% over the past year.
  • TAMN underperformed the Market in Switzerland which returned 13.4% over the past year.
Price Volatility
TAMN
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Tamedia 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 Tamedia 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 Tamedia.

SWX:TAMN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year CH Government Bond Rate 3.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SWX:TAMN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CH Govt Bond Rate 3.3%
Equity Risk Premium S&P Global 6%
Media Unlevered Beta Simply Wall St/ S&P Global 0.77
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.77 (1 + (1- 18%) (9.29%))
0.885
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.28% + (0.885 * 5.96%)
8.55%

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

The calculations below outline how an intrinsic value for Tamedia 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:TAMN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CHF, Millions) Source Present Value
Discounted (@ 8.55%)
2020 125.82 Est @ -7.11% 115.91
2021 120.79 Est @ -3.99% 102.51
2022 118.60 Est @ -1.81% 92.72
2023 118.26 Est @ -0.29% 85.17
2024 119.19 Est @ 0.78% 79.07
2025 121.01 Est @ 1.53% 73.96
2026 123.49 Est @ 2.05% 69.53
2027 126.48 Est @ 2.42% 65.60
2028 129.87 Est @ 2.68% 62.05
2029 133.58 Est @ 2.86% 58.79
Present value of next 10 years cash flows CHF805.00
SWX:TAMN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CHF133.58 × (1 + 3.28%) ÷ (8.55% – 3.28%)
CHF2,614.06
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CHF2,614.06 ÷ (1 + 8.55%)10
CHF1,150.61
SWX:TAMN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CHF805.00 + CHF1,150.61
CHF1,955.61
Equity Value per Share
(CHF)
= Total value / Shares Outstanding
= CHF1,955.61 / 10.57
CHF184.94
SWX:TAMN Discount to Share Price
Calculation Result
Value per share (CHF) From above. CHF184.94
Current discount Discount to share price of CHF93.40
= -1 x (CHF93.40 - CHF184.94) / CHF184.94
49.5%

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

Current Discount
Amount off the current price Tamedia is available for.
Intrinsic value
49%
Share price is CHF93.4 vs Future cash flow value of CHF184.94
Current Discount Checks
For Tamedia to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Tamedia's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Tamedia's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Tamedia's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tamedia's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SWX:TAMN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in CHF CHF10.38
SWX:TAMN Share Price ** SWX (2019-11-15) in CHF CHF93.4
Europe Media Industry PE Ratio Median Figure of 112 Publicly-Listed Media Companies 17.64x
Switzerland Market PE Ratio Median Figure of 171 Publicly-Listed Companies 19.24x

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

** Primary Listing of Tamedia.

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

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

= 93.4 ÷ 10.38

9x

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

  • Tamedia is good value based on earnings compared to the Europe Media industry average.
  • Tamedia is good value based on earnings compared to the Switzerland market.
Price based on expected Growth
Does Tamedia's expected growth come at a high price?
Raw Data
SWX:TAMN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
14.8%per year
Europe Media Industry PEG Ratio Median Figure of 64 Publicly-Listed Media Companies 1.8x
Switzerland Market PEG Ratio Median Figure of 124 Publicly-Listed Companies 2.19x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Tamedia, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Tamedia's assets?
Raw Data
SWX:TAMN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in CHF CHF165.29
SWX:TAMN Share Price * SWX (2019-11-15) in CHF CHF93.4
Europe Media Industry PB Ratio Median Figure of 166 Publicly-Listed Media Companies 1.34x
Switzerland Market PB Ratio Median Figure of 214 Publicly-Listed Companies 1.65x
SWX:TAMN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 93.4 ÷ 165.29

0.57x

* Primary Listing of Tamedia.

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

  • Tamedia is good value based on assets compared to the Europe Media industry average.
X
Value checks
We assess Tamedia'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 Media 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 Media industry average (and greater than 0)? (1 check)
  5. Tamedia has a total score of 5/6, 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 Tamedia expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

  • No analysts cover Tamedia, future earnings growth has been estimated based on fundamentals.
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
14.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tamedia expected to grow at an attractive rate?
  • Tamedia's earnings growth is expected to exceed the low risk savings rate of 3.3%.
Growth vs Market Checks
  • Tamedia's earnings growth is expected to exceed the Switzerland market average.
  • Tamedia's revenues are expected to decrease over the next 1-3 years, this is below the Switzerland market average.
Annual Growth Rates Comparison
Raw Data
SWX:TAMN Future Growth Rates Data Sources
Data Point Source Value (per year)
SWX:TAMN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 14.8%
SWX:TAMN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts -1.8%
Europe Media Industry Earnings Growth Rate Market Cap Weighted Average 10.9%
Europe Media Industry Revenue Growth Rate Market Cap Weighted Average 2.9%
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:TAMN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SWX:TAMN Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,006 1
2020-12-31 1,026 1
2019-12-31 1,039 1
SWX:TAMN Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2019-06-30 1,055 154 110
2019-03-31 1,032 171 103
2018-12-31 1,008 188 96
2018-09-30 988 102
2018-06-30 968 215 108
2018-03-31 969 219 127
2017-12-31 969 223 147
2017-09-30 972 135
2017-06-30 975 192 123
2017-03-31 988 185 114
2016-12-31 1,001 179 105
2016-09-30 1,018 198 205

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Tamedia's earnings are expected to grow by 14.8% yearly, however this is not considered high growth (20% yearly).
  • Tamedia's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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:TAMN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

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

SWX:TAMN Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
SWX:TAMN Past Financials Data
Date (Data in CHF Millions) EPS *
2019-06-30 10.38
2019-03-31 9.75
2018-12-31 9.12
2018-09-30 9.64
2018-06-30 10.16
2018-03-31 12.01
2017-12-31 13.87
2017-09-30 12.76
2017-06-30 11.66
2017-03-31 10.77
2016-12-31 9.89
2016-09-30 19.36

*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.
  • Tamedia is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Tamedia's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Tamedia 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 Tamedia 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 Tamedia's growth in the last year to its industry (Media).
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.
  • Tamedia's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Tamedia's 1-year earnings growth exceeds its 5-year average (1.9% vs -11.6%)
  • Tamedia's earnings growth has exceeded the Europe Media industry average in the past year (1.9% vs -4.4%).
Earnings and Revenue History
Tamedia'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 Tamedia Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:TAMN 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 1,054.71 109.77 75.71
2019-03-31 1,031.51 103.12 74.71
2018-12-31 1,008.31 96.47 73.71
2018-09-30 988.40 102.10 72.72
2018-06-30 968.48 107.74 71.73
2018-03-31 968.53 127.34 71.73
2017-12-31 968.58 146.94 71.73
2017-09-30 971.83 135.14 69.76
2017-06-30 975.08 123.35 67.79
2017-03-31 988.08 114.05 67.79
2016-12-31 1,001.08 104.75 67.79
2016-09-30 1,018.00 205.27 73.95
2016-06-30 1,034.93 305.79 80.12
2016-03-31 1,048.53 313.59 80.12
2015-12-31 1,062.13 321.39 80.12
2015-09-30 1,074.50 237.98 80.21
2015-06-30 1,086.87 154.57 80.31
2015-03-31 1,097.22 150.37 80.31
2014-12-31 1,107.57 146.17 80.31
2014-09-30 1,092.12 130.50 82.94
2014-06-30 1,076.67 114.83 85.58
2014-03-31 1,069.37 113.68 85.58
2013-12-31 1,062.07 112.53 85.58
2013-09-30 1,044.94 118.62 79.66
2013-06-30 1,027.82 124.71 73.75
2013-03-31 1,012.52 125.76 77.25
2012-12-31 997.22 126.81 80.75

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tamedia is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Tamedia's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Tamedia'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 5.8x 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 Tamedia Company Filings, last reported 4 months ago.

SWX:TAMN Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 2,069.70 91.80 216.20
2019-03-31 2,069.70 91.80 216.20
2018-12-31 2,101.65 158.87 147.11
2018-09-30 2,101.65 158.87 147.11
2018-06-30 1,968.50 14.60 146.20
2018-03-31 1,968.50 14.60 146.20
2017-12-31 1,969.58 10.39 125.56
2017-09-30 1,969.58 10.39 125.56
2017-06-30 1,814.70 60.20 74.60
2017-03-31 1,814.70 60.20 74.60
2016-12-31 1,756.12 94.30 57.33
2016-09-30 1,756.12 94.30 57.33
2016-06-30 1,598.00 0.00 53.60
2016-03-31 1,598.00 0.00 53.60
2015-12-31 1,661.53 216.40 99.94
2015-09-30 1,661.53 216.40 99.94
2015-06-30 1,428.20 0.00 58.40
2015-03-31 1,428.20 0.00 58.40
2014-12-31 1,457.04 96.54 97.48
2014-09-30 1,457.04 96.54 97.48
2014-06-30 1,419.80 0.00 54.80
2014-03-31 1,419.80 0.00 54.80
2013-12-31 1,403.60 194.84 54.27
2013-09-30 1,403.60 194.84 54.27
2013-06-30 1,273.50 0.00 73.70
2013-03-31 1,273.50 0.00 73.70
2012-12-31 1,198.44 275.28 104.86
  • Tamedia's level of debt (4.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0.1% vs 4.4% today).
  • Debt is well covered by operating cash flow (167.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 60.7x coverage).
X
Financial health checks
We assess Tamedia'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. Tamedia 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 Tamedia'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
4.82%
Current annual income from Tamedia dividends. Estimated to be 3.92% next year.
If you bought CHF2,000 of Tamedia shares you are expected to receive CHF96 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?
  • Tamedia's pays a higher dividend yield than the bottom 25% of dividend payers in Switzerland (1.84%).
  • Tamedia's dividend is above the markets top 25% of dividend payers in Switzerland (3.65%).
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:TAMN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Europe Media Industry Average Dividend Yield Market Cap Weighted Average of 88 Stocks 4.5%
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:TAMN Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 3.00 1.00
2020-12-31 3.50 1.00
2019-12-31 4.50 1.00
SWX:TAMN Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2019-03-12 4.500 4.399
2018-03-14 4.500 3.539
2017-03-02 4.500 3.122
2016-03-15 4.500 2.798
2016-02-22 4.500 2.677
2015-02-23 4.500 2.767
2014-03-13 4.000 3.270
2013-03-21 4.500 4.255
2012-04-04 5.750 5.532
2012-03-16 5.750 5.082
2011-03-31 4.000 3.430
2010-03-01 1.500 1.565
2009-01-05 3.000 4.991

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 Tamedia'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 covered by earnings (1.4x coverage).
X
Income/ dividend checks
We assess Tamedia'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 Tamedia afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tamedia has a total score of 5/6, 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 Tamedia'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
Christoph Tonini
COMPENSATION CHF2,727,000
AGE 50
TENURE AS CEO 6.8 years
CEO Bio

Mr. Christoph Tonini serves as Member of the Management Board and Chief Executive Officer since April 2003 and January 2013 respectively at Tamedia AG. Mr. Tonini serves as Chief Executive Officer of Tamedia AG at Tamedia Publications romandes S.A. Mr. Tonini served as Head of Finance and Services at 20 Minuten AG. He served as Deputy Chief Executive Officer and Executive Vice President since 2007 and Head of the Media Switzerland Division at Tamedia AG since January 1, 2008 and also served as its Head of Digital & 20 Minuten Division. He joined Tamedia in April 2003 when he took charge of the Finances Division. In October 2004, Mr. Tonini also took on the responsibility for the former Services Division and as of December 2005 he became responsible for the former Newspapers Switzerland Division as well at Tamedia. Between 1998 and 2003, he held various positions at Ringier. Ultimately, he held the position as the Head of Ringier Hungary and Romania. Prior to that, he completed an apprenticeship in offset printing and studied at the Swiss Engineering School for Printing and Packaging (esig) in Lausanne from 1990 to 1993. Mr. Tonini completed his studies at the University of St. Gallen from 2001 to 2003, where he graduated with an MBA.

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

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

6.8
Average Tenure
53
Average Age
  • The average tenure for the Tamedia management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Pietro Supino

TITLE
Chairman & Publisher
COMPENSATION
CHF2M
AGE
54
TENURE
4 yrs

Christoph Tonini

TITLE
CEO & Member of the Management Board
COMPENSATION
CHF3M
AGE
50
TENURE
6.8 yrs

Marco Boselli

TITLE
Head of Publishing & Processes of Commuter Media and Editor-In-Chief of 20 Minuten
TENURE
16.8 yrs

Sandro Macciacchini

TITLE
Head of the Finances
AGE
53
TENURE
3.5 yrs

Andreas Schaffner

TITLE
Head of Publishing Services Division & Member of the Management Board
AGE
56
TENURE
10 yrs

Serge Reymond

TITLE
Head of Paid Media Division & Member of the Management Board
AGE
56
TENURE
8.5 yrs

Christoph Brand

TITLE
Head of the Classifieds & Marketplaces Division
AGE
50
TENURE
7.1 yrs

Marcel Kohler

TITLE
Chief Commercial Officer & Member of the Management Board
AGE
59
TENURE
6.8 yrs

Samuel Hügli

TITLE
Head of the Technology & Ventures Division and Member of Management Board
AGE
49
TENURE
2.8 yrs

Michi Frank

TITLE
Member of the Management Board
AGE
52
TENURE
1.3 yrs
Board of Directors Tenure

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

6.1
Average Tenure
55
Average Age
  • The tenure for the Tamedia board of directors is about average.
Board of Directors

Pietro Supino

TITLE
Chairman & Publisher
COMPENSATION
CHF2M
AGE
54
TENURE
12.5 yrs

Marina de Planta

TITLE
Director
COMPENSATION
CHF119K
AGE
54
TENURE
5.6 yrs

Martin Kall

TITLE
Director
COMPENSATION
CHF112K
AGE
58
TENURE
6.6 yrs

Konstantin Richter

TITLE
Director
COMPENSATION
CHF119K
AGE
48
TENURE
15.8 yrs

Andreas Schulthess

TITLE
Director
COMPENSATION
CHF39K
AGE
49
TENURE
0.6 yrs

Pierre Lamunière

TITLE
Director
COMPENSATION
CHF117K
AGE
69
TENURE
10.5 yrs

Emily Bell

TITLE
Member of Advisory Board for Media Technology & Innovation
AGE
54
TENURE
5.8 yrs

Markus Gross

TITLE
Member of Advisory Board for Media Technology & Innovation
COMPENSATION
CHF5K
AGE
56
TENURE
6.1 yrs

Mathias von Blumencron

TITLE
Member of Advisory Board for Media Technology & Innovation
COMPENSATION
CHF5K
AGE
59
TENURE
6.1 yrs

Sverre Munck

TITLE
Director
COMPENSATION
CHF78K
AGE
66
TENURE
1.6 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 Tamedia'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. Tamedia 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 Worry About Tamedia AG's (VTX:TAMN) CEO Pay?

It would therefore appear that Tamedia AG pays Christoph Tonini more than the median CEO remuneration at companies of a similar size, in the same market. … Given the total loss of 33% over three years, many shareholders in Tamedia AG are probably rather dissatisfied, to say the least. … We compared total CEO remuneration at Tamedia AG with the amount paid at companies with a similar market capitalization.

Simply Wall St -

Is Tamedia AG (VTX:TAMN) Struggling With Its 4.8% Return On Capital Employed?

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 Tamedia: 0.048 = CHF113m ÷ (CHF2.9b - CHF600m) (Based on the trailing twelve months to December 2018.) Therefore, Tamedia has an ROCE of 4.8%. … How Tamedia's Current Liabilities Impact Its ROCE Current liabilities include invoices, such as supplier payments, short-term debt, or a tax bill, that 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 -

Tamedia (VTX:TAMN) Seems To Use Debt Quite Sensibly

SWX:TAMN Historical Debt, July 29th 2019 How Strong Is Tamedia's Balance Sheet? … When analysing debt levels, the balance sheet is the obvious place to start. … Our View Tamedia's interest cover was a real positive on this analysis, as was its conversion of EBIT to free cash flow.

Simply Wall St -

Does Tamedia AG (VTX:TAMN) Have A Good P/E Ratio?

Tamedia has a price to earnings ratio of 11.8, based on the last twelve months. … The formula for price to earnings is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Tamedia: P/E of 11.8 = CHF107.6 ÷ CHF9.12 (Based on the year to December 2018.) Is A High P/E Ratio Good? … If the reality for a company is not as bad as the P/E ratio indicates, then the share price should increase as the market realizes this.

Simply Wall St -

Introducing Tamedia (VTX:TAMN), The Stock That Dropped 33% In The Last Three Years

But its virtually certain that sometimes you will buy stocks that fall short of the market average returns. … We regret to report that long term Tamedia AG (VTX:TAMN) shareholders have had that experience, with the share price dropping 33% in three years, versus a market return of about 29%. … When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return.

Simply Wall St -

Is Tamedia AG's (VTX:TAMN) CEO Pay Fair?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … At the time of writing our data says that Tamedia AG has a market cap of CHF1.1b, and is paying total annual CEO compensation of CHF2.7m. … Thus we can conclude that Christoph Tonini receives more in total compensation than the median of a group of companies in the same market, and of similar size to Tamedia AG.

Simply Wall St -

Three Things You Should Check Before Buying Tamedia AG (VTX:TAMN) For Its Dividend

Today we'll take a closer look at Tamedia AG (VTX:TAMN) from a dividend investor's perspective. … Owning a strong dividend company and reinvesting the dividends is widely seen as an attractive way of growing your wealth. … Some simple analysis can offer a lot of insights when buying a company for its dividend, and we'll go through this below.

Simply Wall St -

Why You Should Care About Tamedia AG’s (VTX:TAMN) Low Return On Capital

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Return On Capital Employed (ROCE): What is it? … Analysts use this formula to calculate return on capital employed:

Simply Wall St -

Do Directors Own Tamedia AG (VTX:TAMN) Shares?

A look at the shareholders of Tamedia AG (VTX:TAMN) can tell us which group is most powerful. … As Nassim Nicholas Taleb said, 'Don’t tell me what you think, tell me what you have in your portfolio.'. … Taking a look at our data on the ownership groups (below), it's seems that.

Simply Wall St -

Introducing Tamedia, The Stock That Dropped 32% In The Last Three Years

While it may not be enough for some shareholders, we think it is good to see the Tamedia AG (VTX:TAMN) share price up 13% in a single quarter. … Truth be told the share price declined 32% in three years and that return, Dear Reader, falls short of what you could have got from passive investing with an index fund. … It seems like the share price is reflecting the declining earnings per share.

Simply Wall St -

Company Info

Description

Tamedia AG, a media company, publishes newspapers, magazines, and online media publications in Switzerland. The company operates through Paid Media, Free Media, and Marketplaces and Ventures divisions. It offers online media publications under the Der Landbote, BZ Berner Zeitung, Der Bund, 24 heures, Le Matin, and Tribune de Genève brands; free daily newspaper under the 20 Minuten brand; and Sunday print publications under the SonntagsZeitung and Le Matin Dimanche brands. The company also publishes magazines under the Schweizer Familie, Annabelle, and Das Magazin brands. In addition, it operates ricardo.ch, an online marketplace; tutti.ch, a classified ad platform; homegate.ch and immostreet.ch platforms for the housing and real estate market; Starticket.ch, a ticket marketer; and Doodle, an online calendar and scheduling platform. The company was founded in 1893 and is based in Zurich, Switzerland.

Details
Name: Tamedia AG
TAMN
Exchange: SWX
Founded: 1893
CHF987,648,119
10,574,391
Website: http://www.tamedia.ch
Address: Tamedia AG
Werdstrasse 21,
Zurich,
8021,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX TAMN Registered Shares SIX Swiss Exchange CH CHF 02. Oct 2000
DB TAMN Registered Shares Deutsche Boerse AG DE EUR 02. Oct 2000
LSE 0QO9 Registered Shares London Stock Exchange GB CHF 02. Oct 2000
Number of employees
Current staff
Staff numbers
3,642
Tamedia employees.
Industry
Publishing
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/15 20:42
End of day share price update: 2019/11/15 00:00
Last estimates confirmation: 2019/09/06
Last earnings filing: 2019/08/27
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.