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Comet Holding

SWX:COTN
Snowflake Description

Excellent balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
COTN
SWX
CHF708M
Market Cap
  1. Home
  2. CH
  3. Tech
Company description

Comet Holding AG, together with its subsidiaries, provides X-ray, radio frequency (RF), and ebeam technology solutions in Europe, Asia, and internationally. The last earnings update was 14 days ago. More info.


Add to Portfolio Compare Print
  • Comet Holding has significant price volatility in the past 3 months.
COTN Share Price and Events
7 Day Returns
-0.9%
SWX:COTN
2.9%
CH Electronic
1.4%
CH Market
1 Year Returns
-3.5%
SWX:COTN
-5.2%
CH Electronic
-5.2%
CH Market
COTN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Comet Holding (COTN) -0.9% -25.2% -26.3% -3.5% -27.3% 11.9%
CH Electronic 2.9% -15.9% -23.6% -5.2% -5.5% 36.8%
CH Market 1.4% -9% -13.7% -5.2% 3.7% -2.6%
1 Year Return vs Industry and Market
  • COTN outperformed the Electronic industry which returned -5.2% over the past year.
  • COTN outperformed the Market in Switzerland which returned -5.2% over the past year.
Price Volatility
COTN
Industry
5yr Volatility vs Market

COTN Value

 Is Comet 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 Comet 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 Comet Holding.

SWX:COTN 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 5.6%
Perpetual Growth Rate 10-Year CH Government Bond Rate -0.6%

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:COTN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CH Govt Bond Rate -0.6%
Equity Risk Premium S&P Global 5.4%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.09
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.089 (1 + (1- 18%) (12.04%))
1.131
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.55% + (1.131 * 5.44%)
5.6%

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

The calculations below outline how an intrinsic value for Comet 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:COTN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CHF, Millions) Source Present Value
Discounted (@ 5.6%)
2020 12.40 Analyst x1 11.74
2021 36.00 Analyst x1 32.28
2022 49.00 Analyst x1 41.60
2023 62.20 Analyst x1 50.01
2024 74.20 Analyst x1 56.49
2025 82.47 Est @ 11.14% 59.45
2026 88.76 Est @ 7.63% 60.60
2027 93.36 Est @ 5.18% 60.35
2028 96.59 Est @ 3.46% 59.13
2029 98.77 Est @ 2.26% 57.25
Present value of next 10 years cash flows CHF488.00
SWX:COTN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CHF98.77 × (1 + -0.55%) ÷ (5.6% – -0.55%)
CHF1,595.93
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CHF1,595.93 ÷ (1 + 5.6%)10
CHF925.07
SWX:COTN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CHF488.00 + CHF925.07
CHF1,413.07
Equity Value per Share
(CHF)
= Total value / Shares Outstanding
= CHF1,413.07 / 7.76
CHF182
SWX:COTN Discount to Share Price
Calculation Result
Value per share (CHF) From above. CHF182.00
Current discount Discount to share price of CHF91.20
= -1 x (CHF91.20 - CHF182.00) / CHF182.00
49.9%

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

Current Discount
Amount off the current price Comet Holding is available for.
Intrinsic value
50%
Share price is CHF91.2 vs Future cash flow value of CHF182
Current Discount Checks
For Comet Holding to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Comet Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Comet Holding'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 Comet Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Comet Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SWX:COTN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CHF CHF1.55
SWX:COTN Share Price ** SWX (2020-04-03) in CHF CHF91.2
Switzerland Electronic Industry PE Ratio Median Figure of 10 Publicly-Listed Electronic Companies 18.74x
Switzerland Market PE Ratio Median Figure of 175 Publicly-Listed Companies 16.43x

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

** Primary Listing of Comet Holding.

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

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

= 91.2 ÷ 1.55

58.87x

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

  • Comet Holding is overvalued based on earnings compared to the CH Electronic industry average.
  • Comet Holding is overvalued based on earnings compared to the Switzerland market.
Price based on expected Growth
Does Comet Holding's expected growth come at a high price?
Raw Data
SWX:COTN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 58.87x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
41.5%per year
Switzerland Electronic Industry PEG Ratio Median Figure of 9 Publicly-Listed Electronic Companies 1.1x
Switzerland Market PEG Ratio Median Figure of 125 Publicly-Listed Companies 1.81x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 58.87x ÷ 41.5%

1.42x

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

  • Comet Holding is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Comet Holding's assets?
Raw Data
SWX:COTN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CHF CHF25.24
SWX:COTN Share Price * SWX (2020-04-03) in CHF CHF91.2
Switzerland Electronic Industry PB Ratio Median Figure of 12 Publicly-Listed Electronic Companies 2.29x
Switzerland Market PB Ratio Median Figure of 216 Publicly-Listed Companies 1.33x
SWX:COTN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 91.2 ÷ 25.24

3.61x

* Primary Listing of Comet Holding.

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

  • Comet Holding is overvalued based on assets compared to the CH Electronic industry average.
X
Value checks
We assess Comet 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 Electronic 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 Electronic industry average (and greater than 0)? (1 check)
  5. Comet 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.

COTN Future Performance

 How is Comet 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
41.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Comet Holding expected to grow at an attractive rate?
  • Comet Holding's earnings growth is expected to exceed the low risk savings rate of -0.6%.
Growth vs Market Checks
  • Comet Holding's earnings growth is expected to exceed the Switzerland market average.
  • Comet Holding's revenue growth is expected to exceed the Switzerland market average.
Annual Growth Rates Comparison
Raw Data
SWX:COTN Future Growth Rates Data Sources
Data Point Source Value (per year)
SWX:COTN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 41.5%
SWX:COTN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 8.8%
Switzerland Electronic Industry Earnings Growth Rate Market Cap Weighted Average 18%
Switzerland Electronic Industry Revenue Growth Rate Market Cap Weighted Average 5.7%
Switzerland Market Earnings Growth Rate Market Cap Weighted Average 8.3%
Switzerland Market Revenue Growth Rate Market Cap Weighted Average 2.2%

*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:COTN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 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:COTN Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 595 1
2023-12-31 520 1
2022-12-31 439 70 44 2
2021-12-31 399 57 32 3
2020-12-31 350 38 17 2
2020-04-03
SWX:COTN Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2019-12-31 372 49 12
2019-09-30 376 43 3
2019-06-30 381 33 -5
2019-03-31 409 28 3
2018-12-31 436 28 12
2018-09-30 445 22
2018-06-30 453 43 31
2018-03-31 448 41 33
2017-12-31 443 38 35
2017-09-30 426 34 37
2017-06-30 405 30 37
2017-03-31 369 32 32

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Comet Holding's earnings are expected to grow significantly at over 20% yearly.
  • Comet Holding's revenue is expected to grow by 8.8% 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:COTN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Comet Holding Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:COTN Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 5.99 5.99 5.99 1.00
2021-12-31 4.48 4.57 4.40 2.00
2020-12-31 2.65 2.85 2.45 2.00
2020-04-03
SWX:COTN Past Financials Data
Date (Data in CHF Millions) EPS *
2019-12-31 1.55
2019-09-30 0.44
2019-06-30 -0.68
2019-03-31 0.45
2018-12-31 1.59
2018-09-30 2.81
2018-06-30 4.02
2018-03-31 4.29
2017-12-31 4.56
2017-09-30 4.80
2017-06-30 4.83
2017-03-31 4.18

*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.
  • Comet Holding is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Comet 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.
Comet 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.

COTN Past Performance

  How has Comet 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 Comet Holding's growth in the last year to its industry (Electronic).
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.
  • Comet Holding's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Comet Holding's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Comet Holding's 1-year earnings growth is negative, it can't be compared to the CH Electronic industry average.
Earnings and Revenue History
Comet 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 Comet Holding Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:COTN Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 371.61 12.03 79.26 48.69
2019-09-30 376.27 3.40 81.38 50.13
2019-06-30 380.93 -5.30 83.67 51.57
2019-03-31 408.65 3.49 88.09 52.63
2018-12-31 436.36 12.35 92.34 53.68
2018-09-30 444.74 21.77 97.41 53.14
2018-06-30 453.13 31.16 98.84 52.40
2018-03-31 448.25 33.25 92.98 49.75
2017-12-31 443.37 35.34 87.13 47.10
2017-09-30 425.68 37.21 80.43 45.19
2017-06-30 405.29 37.41 73.74 42.20
2017-03-31 368.87 32.37 70.31 39.83
2016-12-31 332.44 27.34 66.89 37.47
2016-09-30 317.21 25.67 64.09 34.60
2016-06-30 301.99 24.01 61.30 31.73
2016-03-31 292.16 20.56 59.32 30.32
2015-12-31 282.32 17.11 57.34 28.92
2015-09-30 283.87 20.32 57.11 28.54
2015-06-30 285.41 23.53 56.87 28.17
2015-03-31 286.65 24.90 57.16 28.55
2014-12-31 287.90 26.28 57.45 28.94
2014-09-30 282.03 22.06 56.68 28.19
2014-06-30 276.17 17.84 55.91 27.43
2014-03-31 262.90 16.97 53.79 26.51
2013-12-31 249.63 16.09 51.67 25.60
2013-09-30 233.00 10.88 50.30 25.80
2013-06-30 216.37 5.67 48.92 26.01

*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.
  • Comet Holding has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Comet Holding used its assets less efficiently than the CH Electronic industry average last year based on Return on Assets.
  • Comet Holding's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Comet 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 Electronic 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.
Comet Holding has a total score of 0/6, 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.

COTN Health

 How is Comet 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 Comet Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Comet Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Comet Holding's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Comet 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 3x 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 Comet Holding Company Filings, last reported 3 months ago.

SWX:COTN Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 195.95 71.89 60.26
2019-09-30 195.95 71.89 60.26
2019-06-30 182.97 75.62 43.68
2019-03-31 182.97 75.62 43.68
2018-12-31 198.29 67.81 43.01
2018-09-30 200.04 67.81 43.01
2018-06-30 206.00 67.82 32.60
2018-03-31 206.00 67.82 32.60
2017-12-31 201.55 67.73 60.42
2017-09-30 206.43 67.73 60.42
2017-06-30 184.87 67.90 47.03
2017-03-31 184.87 67.90 47.03
2016-12-31 176.35 70.16 74.83
2016-09-30 176.35 70.16 74.83
2016-06-30 161.38 70.46 56.99
2016-03-31 161.38 70.46 56.99
2015-12-31 162.21 21.62 24.30
2015-09-30 162.21 21.62 24.30
2015-06-30 143.22 38.85 18.40
2015-03-31 143.22 38.85 18.40
2014-12-31 159.77 19.97 18.56
2014-09-30 159.77 19.97 18.56
2014-06-30 136.41 31.75 19.52
2014-03-31 136.41 31.75 19.52
2013-12-31 137.85 31.15 18.21
2013-09-30 137.85 31.15 18.21
2013-06-30 120.80 40.39 10.80
  • Comet Holding's level of debt (36.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (12.6% vs 36.7% today).
  • Debt is well covered by operating cash flow (67.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 10.5x coverage).
X
Financial health checks
We assess Comet 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. Comet Holding 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.

COTN Dividends

 What is Comet 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
1.1%
Current annual income from Comet Holding dividends. Estimated to be 2.06% next year.
If you bought CHF2,000 of Comet Holding shares you are expected to receive CHF22 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?
  • Comet Holding's pays a lower dividend yield than the bottom 25% of dividend payers in Switzerland (2.08%).
  • Comet Holding's dividend is below the markets top 25% of dividend payers in Switzerland (4.36%).
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:COTN 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 Electronic Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 3.2%
Switzerland Market Average Dividend Yield Market Cap Weighted Average of 159 Stocks 3.3%
Switzerland Minimum Threshold Dividend Yield 10th Percentile 1.3%
Switzerland Bottom 25% Dividend Yield 25th Percentile 2.1%
Switzerland Top 25% Dividend Yield 75th Percentile 4.4%

Industry and Market average data is calculated daily.

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

SWX:COTN Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 3.00 2.00
2021-12-31 1.95 3.00
2020-12-31 1.07 3.00
2020-04-03
SWX:COTN Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2020-03-20 1.000 1.088
2020-03-19 1.000 1.208
2019-03-14 1.200 1.229
2018-03-15 1.500 1.504
2017-04-10 1.200 0.859
2016-03-18 1.100 1.303
2016-03-17 1.100 1.749
2015-03-19 1.100 1.525
2014-03-20 0.800 1.330
2013-03-14 0.400 1.248
2012-03-15 0.400 1.916
2011-03-10 0.350 2.103
2010-03-01 0.050 0.302

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

  • Comet Holding is not paying a notable dividend for Switzerland, therefore no need to check if the payments are stable.
  • Comet Holding is not paying a notable dividend for Switzerland, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Comet Holding's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Comet Holding's dividends as it is not paying a notable one for Switzerland.
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Comet Holding's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 Comet Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Comet Holding has a total score of 1/6, see the detailed checks below.


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

COTN Management

 What is the CEO of Comet 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
Heinz Kundert
COMPENSATION CHF165,309
AGE 67
TENURE AS CEO 0.8 years
CEO Bio

Mr. Heinz Kundert serves as Vice Chairman of VAT Group AG since May 17, 2018 and is its Director March 2018. He served as the Chief Executive Officer at VAT Group AG since June 2015 until March 12, 2018. Mr. Kundert has been Chief Executive Officer of VAT Vakuumventile AG since joining 2015. Mr. Kundert has been President of SEMI Europe at The Semiconductor Equipment and Materials International since October 2005. He is responsible for overall guidance of the SEMI activities and membership outreach all over Europe and the CIS countries and belongs to the Global Executive Team of SEMI International. As part of the SEMI mission, he is focusing on providing higher level of services for SEMI members/customers and to increase their satisfaction in Europe and CIS. To strengthen the European-based semiconductor industry by providing a valuable platform to enhance innovation and manufacturing capabilities is one of the prime goals. Mr. Kundert has been within the semiconductor industry for 23 years. He possesses many years of experience in the information technology industry and its markets and has broad experience in leading high technology companies of the vacuum and coating industry. He serves as President of OC Oerlikon Corporation AG (also known as Unaxis Holding AG). He served as Chief Executive Officer of OC Oerlikon Corporation AG from May 2002 to November 2004. In 1999, he was named Chief Operation Officer of the restructured Oerlikon-Bührle Group (today’s Unaxis). Mr. Kundert joined the former Oerlikon-Bührle (today’s Unaxis) machine-tool company as Project Manager in 1976. From 1981 to 1991, he was responsible for expanding the Far East business activities of Balzers AG (FL), and spent more than four years in Japan performing that function. As of 1991, Mr. Kundert took over as Head of that company’s Electronic Equipment Business Unit (today, the Information Technology Segment of Unaxis Corporation) which, under his leadership, rose to become the leading provider in various sectors of the general market it addresses. As of 1991, he Headed its Electronics Business Unit and in 1995, assumed responsibility for the BPS segment of the newly formed Balzers & Leybold Group. He has been Chairman of the Board of ESEC Holding AG since 2002 and as its Non-Executive Director since September 2000. Mr. Kundert serves as a Board Member of SEMI International and Member of the EFQM Governing Committee. He serves as Chairman of the Board at Comet Holding AG since April 25, 2019 and has been its Interim Chief Executive Officer since June 21, 2019. Mr. Kundert has a degree in mechanical engineering, business management and business administration with a federal diploma from the FAH/University of St. Gallen, Switzerland.

CEO Compensation
  • Insufficient data for Heinz to compare compensation growth.
  • Heinz's remuneration is lower than average for companies of similar size in Switzerland.
Management Team Tenure

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

2.3
Average Tenure
55
Average Age
  • The tenure for the Comet Holding management team is about average.
Management Team

Heinz Kundert

TITLE
Chairman of the Board & Interim CEO
COMPENSATION
CHF165K
AGE
67
TENURE
0.8 yrs

Eric Dubuis

TITLE
Chief Information Officer & Interim Chief HR Officer
AGE
55
TENURE
14.5 yrs

Ines Najorka

TITLE
VP of Corporate Communications & Secretary

Michael Kammerer

TITLE
President of Plasma Control Technologies Division
AGE
58
TENURE
12.3 yrs

Stephan Haferl

TITLE
President of X-Ray Modules Division
AGE
46
TENURE
2.3 yrs

Thomas Wenzel

TITLE
President of X-Ray Systems Division
AGE
54
TENURE
1.3 yrs

Nicola Rotondo

TITLE
Vice President of Group Controlling
Board of Directors Tenure

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

1
Average Tenure
55
Average Age
  • The average tenure for the Comet Holding board of directors is less than 3 years, this suggests a new board.
Board of Directors

Rolf Huber

TITLE
Non-Executive Vice Chairman of the Board
COMPENSATION
CHF107K
AGE
54
TENURE
1 yrs

Heinz Kundert

TITLE
Chairman of the Board & Interim CEO
COMPENSATION
CHF165K
AGE
67
TENURE
1 yrs

Patrick Jany

TITLE
Independent Non-Executive Director
COMPENSATION
CHF83K
AGE
51
TENURE
1 yrs

Gian-Luca Bona

TITLE
Non-Executive Director
COMPENSATION
CHF107K
AGE
62
TENURE
8 yrs

Mariel Hoch

TITLE
Non-Executive Director
COMPENSATION
CHF107K
AGE
46
TENURE
4 yrs

Franz Richter

TITLE
Non-Executive Director
COMPENSATION
CHF99K
AGE
64
TENURE
4 yrs

Christoph Kutter

TITLE
Independent Non-Executive Director
COMPENSATION
CHF77K
AGE
55
TENURE
1 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 Comet 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. Comet 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.

COTN News

Simply Wall St News

Does Comet Holding AG (VTX:COTN) Have A High Beta?

If you're interested in Comet Holding AG (VTX:COTN), 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. … This is reasonably close to the market beta of 1, so the stock has in the past displayed similar levels of volatility to the overall market. … What this means for you: It is probable that there is a link between the share price of Comet Holding and the broader market, since it has a beta value quite close to one.

Simply Wall St -

Here's Why Comet Holding (VTX:COTN) Has A Meaningful Debt Burden

We can see that Comet Holding AG (VTX:COTN) does use debt in its business. … Over the last three years, Comet Holding reported free cash flow worth 5.0% of its EBIT, which is really quite low. … Our View Comet Holding's EBIT growth rate and conversion of EBIT to free cash flow definitely weigh on it, in our esteem.

Simply Wall St -

Could The Comet Holding AG (VTX:COTN) Ownership Structure Tell Us Something Useful?

View our latest analysis for Comet Holding SWX:COTN Ownership Summary, July 31st 2019 What Does The Institutional Ownership Tell Us About Comet Holding? … We can see that Comet Holding does have institutional investors; and they hold 43% of the stock. … Insider Ownership Of Comet Holding The definition of company insiders can be subjective, and does vary between jurisdictions.

Simply Wall St -

Comet Holding AG (VTX:COTN): The Best Of Both Worlds

Excellent balance sheet with reasonable growth potential One reason why investors are attracted to COTN is its earnings growth potential in the near future of 35%, supported by its outstanding capacity to churn out cash from operating activities, which is predicted to more than double over the next year. … This indicates that COTN has sufficient cash flows and proper cash management in place, which is a crucial insight into the health of the company. … SWX:COTN Past and Future Earnings, July 10th 2019 Next Steps: For Comet Holding, there are three relevant aspects you should further examine: Historical Performance: What has COTN's returns been like over the past?

Simply Wall St -

Can You Imagine How Comet Holding's (VTX:COTN) Shareholders Feel About The 48% Share Price Increase?

For example, the Comet Holding AG (VTX:COTN) share price is up 48% in the last 5 years, clearly besting than the market return of around 12% (ignoring dividends). … Comet Holding's earnings per share are down 5.7% per year, despite strong share price performance over five years. … As it happens, Comet Holding's TSR for the last 5 years was 58%, which exceeds the share price return mentioned earlier.

Simply Wall St -

Is Comet Holding AG (VTX:COTN) A Risky Dividend Stock?

Could Comet Holding AG (VTX:COTN) be an attractive dividend share to own for the long haul? … With a 1.3% yield and a nine-year payment history, investors probably think Comet Holding looks like a reliable dividend stock. … In the last five years, Comet Holding's earnings per share have shrunk at approximately 5.7% per annum.

Simply Wall St -

Comet Holding AG (VTX:COTN): What Does Its Beta Value Mean For Your Portfolio?

If the future looks like the past, we could therefore consider it likely that the stock price will experience share price volatility that is roughly similar to the overall market. … It takes less capital to move the share price of small companies, and they are also more impacted by company specific events, so it's a bit of a surprise that the beta is so close to the overall market. … What this means for you: It is probable that there is a link between the share price of Comet Holding and the broader market, since it has a beta value quite close to one.

Simply Wall St -

Estimating The Fair Value Of Comet Holding AG (VTX:COTN)

In this article we are going to estimate the intrinsic value of Comet Holding AG (VTX:COTN) by taking the expected future cash flows and discounting them to their present 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) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (CHF, Millions) CHF10.60 CHF30.60 CHF37.10 CHF42.45 CHF47.16 CHF51.28 CHF54.93 CHF58.20 CHF61.19 CHF64.00 Growth Rate Estimate Source Analyst x1 Analyst x2 Analyst x1 Est @ 14.43% Est @ 11.09% Est @ 8.74% Est @ 7.1% Est @ 5.95% Est @ 5.15% Est @ 4.59% Present Value (CHF, Millions) Discounted @ 9.79% CHF9.65 CHF25.39 CHF28.03 CHF29.22 CHF29.56 CHF29.28 CHF28.56 CHF27.56 CHF26.40 CHF25.15 Present Value of 10-year Cash Flow (PVCF)= CHF258.80m "Est" = FCF growth rate estimated by Simply Wall St We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = CHF64m × (1 + 3.3%) ÷ (9.8% – 3.3%) = CHF1.0b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = CHFCHF1.0b ÷ ( 1 + 9.8%)10 = CHF398.47m The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is CHF657.27m.

Simply Wall St -

Evaluating Comet Holding AG’s (VTX:COTN) Investments In Its Business

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Return On Capital Employed (ROCE): What is it? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

How Many Comet Holding AG (VTX:COTN) Shares Do Institutions Own?

If you want to know who really controls Comet Holding AG (VTX:COTN), then you'll have to look at the makeup of its share registry. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … Comet Holding is a smaller company with a market capitalization of CHF775m, so it may still be flying under the radar of many institutional investors.

Simply Wall St -

COTN Company Info

Description

Comet Holding AG, together with its subsidiaries, provides X-ray, radio frequency (RF), and ebeam technology solutions in Europe, Asia, and internationally. It operates through four segments: Plasma Control Technologies; X-Ray Systems; Industrial X-Ray Modules; and ebeam Technologies. The Plasma Control Technologies segment develops, manufactures, and markets vacuum capacitors, RF generators, and RF impedance matching networks for the high-precision control of plasma processes required in the production of memory chips and flat panel displays. The X-Ray Systems segment develops, manufactures, and markets X-ray systems and services for non-destructive testing using X-ray and microfocus technology, and computed tomography. The Industrial X-Ray Modules segment develops, manufactures, and markets compact X-ray sources and portable X-ray modules for non-destructive testing, steel metrology, and airport security inspection. The ebeam Technologies segment develops, manufactures, and markets compact ebeam sets and whole ebeam systems for the treatment of surfaces in the food and printing industries. The company offers its products under the Comet, Yxlon, and ebeam brand names. Its products are used in electronics, automotive, foundries, aerospace, energy, semiconductor, and solar industries, as well as in airport security applications. Comet Holding AG was founded in 1948 and is headquartered in Flamatt, Switzerland.

Details
Name: Comet Holding AG
COTN
Exchange: SWX
Founded: 1948
CHF708,095,769
7,764,208
Website: http://www.comet-group.com
Address: Comet Holding AG
Herrengasse 10,
Flamatt,
3175,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX COTN Registered Shares SIX Swiss Exchange CH CHF 26. Nov 1997
DB EZP1 Registered Shares Deutsche Boerse AG DE EUR 26. Nov 1997
LSE 0ROQ Registered Shares London Stock Exchange GB CHF 26. Nov 1997
Number of employees
Current staff
Staff numbers
1,330
Comet Holding employees.
Industry
Electronic Equipment and Instruments
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 21:20
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/04/03
Last earnings filing: 2020/03/20
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.