Loading...

You're on the old version of Simply Wall St. We will no longer be supporting this site, so we recommend you switch to our brand new platform.

Progress-Werk Oberkirch

DB:PWO
Snowflake Description

Very undervalued with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PWO
DB
€56M
Market Cap
  1. Home
  2. DE
  3. Automobiles
Company description

Progress-Werk Oberkirch AG develops and manufactures advanced metal components and subsystems used in lightweight construction for the automotive safety and comfort in Germany, rest of Europe, North America, and Asia. The last earnings update was 152 days ago. More info.


Add to Portfolio Compare Print
  • Progress-Werk Oberkirch has significant price volatility in the past 3 months.
PWO Share Price and Events
7 Day Returns
0%
DB:PWO
3.7%
DE Auto Components
2.1%
DE Market
1 Year Returns
-38.2%
DB:PWO
-47.8%
DE Auto Components
-16.6%
DE Market
PWO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Progress-Werk Oberkirch (PWO) 0% -21.1% -31.1% -38.2% -61.9% -62.6%
DE Auto Components 3.7% -20.4% -41.1% -47.8% -63.5% -67.9%
DE Market 2.1% -12.6% -22.9% -16.6% -21.9% -27.8%
1 Year Return vs Industry and Market
  • PWO outperformed the Auto Components industry which returned -47.8% over the past year.
  • PWO underperformed the Market in Germany which returned -16.6% over the past year.
Price Volatility
PWO
Industry
5yr Volatility vs Market

Value

 Is Progress-Werk Oberkirch 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 Progress-Werk Oberkirch 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 Progress-Werk Oberkirch.

DB:PWO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

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 DB:PWO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Auto Components Unlevered Beta Simply Wall St/ S&P Global 1.14
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.14 (1 + (1- 30%) (265.78%))
2.514
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (2 * 5.44%)
10.49%

Discounted Cash Flow Calculation for DB:PWO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Progress-Werk Oberkirch 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.

DB:PWO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 10.49%)
2020 20.90 Analyst x1 18.92
2021 8.50 Analyst x1 6.96
2022 13.10 Analyst x1 9.71
2023 15.90 Analyst x1 10.67
2024 14.90 Analyst x1 9.05
2025 14.26 Est @ -4.29% 7.84
2026 13.82 Est @ -3.12% 6.87
2027 13.50 Est @ -2.3% 6.08
2028 13.26 Est @ -1.73% 5.40
2029 13.09 Est @ -1.33% 4.83
Present value of next 10 years cash flows €86.00
DB:PWO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €13.09 × (1 + -0.39%) ÷ (10.49% – -0.39%)
€119.83
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €119.83 ÷ (1 + 10.49%)10
€44.19
DB:PWO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €86.00 + €44.19
€130.19
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €130.19 / 3.13
€41.66
DB:PWO Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:PWO represents 0.98824x of XTRA:PWO
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.98824x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 41.66 x 0.98824
€41.17
Value per share (EUR) From above. €41.17
Current discount Discount to share price of €16.80
= -1 x (€16.80 - €41.17) / €41.17
59.2%

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

Current Discount
Amount off the current price Progress-Werk Oberkirch is available for.
Intrinsic value
>50%
Share price is €16.8 vs Future cash flow value of €41.17
Current Discount Checks
For Progress-Werk Oberkirch to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Progress-Werk Oberkirch's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Progress-Werk Oberkirch'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 Progress-Werk Oberkirch's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Progress-Werk Oberkirch's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:PWO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in EUR €1.44
XTRA:PWO Share Price ** XTRA (2020-04-07) in EUR €17
Germany Auto Components Industry PE Ratio Median Figure of 9 Publicly-Listed Auto Components Companies 12.05x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 16.83x

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

** Primary Listing of Progress-Werk Oberkirch.

DB:PWO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= XTRA:PWO Share Price ÷ EPS (both in EUR)

= 17 ÷ 1.44

11.78x

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

  • Progress-Werk Oberkirch is good value based on earnings compared to the DE Auto Components industry average.
  • Progress-Werk Oberkirch is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Progress-Werk Oberkirch's expected growth come at a high price?
Raw Data
DB:PWO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.78x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
13.9%per year
Germany Auto Components Industry PEG Ratio Median Figure of 7 Publicly-Listed Auto Components Companies 0.53x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

DB:PWO PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.78x ÷ 13.9%

0.85x

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

  • Progress-Werk Oberkirch is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Progress-Werk Oberkirch's assets?
Raw Data
DB:PWO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in EUR €33.95
XTRA:PWO Share Price * XTRA (2020-04-07) in EUR €17
Germany Auto Components Industry PB Ratio Median Figure of 13 Publicly-Listed Auto Components Companies 0.7x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.45x
DB:PWO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= XTRA:PWO Share Price ÷ Book Value per Share (both in EUR)

= 17 ÷ 33.95

0.5x

* Primary Listing of Progress-Werk Oberkirch.

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

  • Progress-Werk Oberkirch is good value based on assets compared to the DE Auto Components industry average.
X
Value checks
We assess Progress-Werk Oberkirch'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 Auto Components 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 Auto Components industry average (and greater than 0)? (1 check)
  5. Progress-Werk Oberkirch has a total score of 6/6, 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 Progress-Werk Oberkirch expected to perform in the next 1 to 3 years based on estimates from 2 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
13.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Progress-Werk Oberkirch expected to grow at an attractive rate?
  • Progress-Werk Oberkirch's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Progress-Werk Oberkirch's earnings growth is positive but not above the Germany market average.
  • Progress-Werk Oberkirch's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:PWO Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:PWO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 13.9%
DB:PWO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts -0.1%
Germany Auto Components Industry Earnings Growth Rate Market Cap Weighted Average 49.7%
Germany Auto Components Industry Revenue Growth Rate Market Cap Weighted Average 2.4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*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
DB:PWO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:PWO Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 472 1
2023-12-31 458 1
2022-12-31 445 10 1
2021-12-31 447 10 2
2020-12-31 426 6 2
2020-04-07
2019-12-31 469 9 2
DB:PWO Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-09-30 482 51 5
2019-06-30 483 49 4
2019-03-31 482 46 6
2018-12-31 487 38 7
2018-09-30 473 42 10
2018-06-30 478 49 11
2018-03-31 468 50 11
2017-12-31 462 38 10
2017-09-30 447 23 9
2017-06-30 435 30 11
2017-03-31 424 31 11
2016-12-31 410 46 10

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Progress-Werk Oberkirch's earnings are expected to grow by 13.9% yearly, however this is not considered high growth (20% yearly).
  • Progress-Werk Oberkirch'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
DB:PWO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Progress-Werk Oberkirch Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PWO Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 3.25 3.25 3.25 1.00
2021-12-31 3.19 4.01 2.38 2.00
2020-12-31 1.92 3.58 0.26 2.00
2020-04-07
2019-12-31 2.89 2.90 2.89 2.00
DB:PWO Past Financials Data
Date (Data in EUR Millions) EPS *
2019-09-30 1.44
2019-06-30 1.25
2019-03-31 1.88
2018-12-31 2.13
2018-09-30 3.13
2018-06-30 3.64
2018-03-31 3.60
2017-12-31 3.22
2017-09-30 2.96
2017-06-30 3.39
2017-03-31 3.54
2016-12-31 3.05

*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.
  • Progress-Werk Oberkirch is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Progress-Werk Oberkirch'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 Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany 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.
Progress-Werk Oberkirch has a total score of 1/6, 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 Progress-Werk Oberkirch 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 Progress-Werk Oberkirch's growth in the last year to its industry (Auto Components).
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.
  • Progress-Werk Oberkirch's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Progress-Werk Oberkirch's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Progress-Werk Oberkirch's 1-year earnings growth is negative, it can't be compared to the DE Auto Components industry average.
Earnings and Revenue History
Progress-Werk Oberkirch'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 Progress-Werk Oberkirch Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PWO Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 482.19 4.51 132.52
2019-06-30 483.21 3.90 132.62
2019-03-31 482.03 5.86 133.72
2018-12-31 486.76 6.67 131.90
2018-09-30 472.94 9.76 131.21
2018-06-30 477.80 11.37 129.07
2018-03-31 467.91 11.23 126.77
2017-12-31 462.25 10.06 125.46
2017-09-30 447.14 9.26 123.66
2017-06-30 434.79 10.60 122.61
2017-03-31 423.77 11.05 121.23
2016-12-31 410.33 9.52 118.26
2016-09-30 415.47 9.76 117.41
2016-06-30 412.87 7.70 116.88
2016-03-31 409.09 5.71 116.23
2015-12-31 405.00 7.54 117.50
2015-09-30 394.67 6.79 119.05
2015-06-30 388.73 6.50 119.50
2015-03-31 382.51 7.23 116.26
2014-12-31 382.69 7.31 114.52
2014-09-30 382.44 11.32 110.05
2014-06-30 383.47 12.64 109.69
2014-03-31 385.94 13.16 109.87
2013-12-31 380.37 13.14 108.70
2013-09-30 376.63 11.98 106.52
2013-06-30 374.47 11.14 104.94

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

Health

 How is Progress-Werk Oberkirch'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 Progress-Werk Oberkirch's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Progress-Werk Oberkirch is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Progress-Werk Oberkirch's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Progress-Werk Oberkirch'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 1.2x 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 Progress-Werk Oberkirch Company Filings, last reported 6 months ago.

DB:PWO Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 106.70 149.50 16.28
2019-06-30 110.55 145.25 12.97
2019-03-31 114.36 143.51 9.83
2018-12-31 113.87 130.45 10.38
2018-09-30 115.69 144.52 8.79
2018-06-30 112.29 140.70 6.32
2018-03-31 116.68 134.25 7.23
2017-12-31 113.12 128.93 9.20
2017-09-30 113.49 145.94 10.20
2017-06-30 110.53 141.30 5.94
2017-03-31 110.60 141.98 3.15
2016-12-31 106.54 120.80 2.01
2016-09-30 97.53 125.92 9.30
2016-06-30 95.84 138.25 11.96
2016-03-31 100.99 134.65 5.12
2015-12-31 103.11 128.91 4.24
2015-09-30 100.46 139.04 5.22
2015-06-30 100.96 148.40 2.88
2015-03-31 95.71 144.95 3.28
2014-12-31 96.10 120.05 5.40
2014-09-30 97.84 134.03 6.80
2014-06-30 97.62 136.57 8.87
2014-03-31 102.39 106.98 2.63
2013-12-31 102.46 93.75 8.07
2013-09-30 99.17 107.11 3.75
2013-06-30 96.62 114.42 8.02
  • Progress-Werk Oberkirch's level of debt (129.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (122.5% vs 129.2% today).
  • Debt is well covered by operating cash flow (36.8%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Progress-Werk Oberkirch'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. Progress-Werk Oberkirch has a total score of 3/6, 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 Progress-Werk Oberkirch'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
6.47%
Current annual income from Progress-Werk Oberkirch dividends. Estimated to be 5.36% next year.
If you bought €2,000 of Progress-Werk Oberkirch shares you are expected to receive €129 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?
  • Progress-Werk Oberkirch's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.67%).
  • Progress-Werk Oberkirch's dividend is above the markets top 25% of dividend payers in Germany (4.71%).
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
DB:PWO 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 2 Analyst Estimates (S&P Global) See Below
Germany Auto Components Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 5.6%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.7%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

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

DB:PWO Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 1.14 1.00
2021-12-31 1.07 2.00
2020-12-31 0.64 2.00
2020-04-07
2019-12-31 1.13 2.00
DB:PWO Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-05-23 1.100 4.586
2018-03-23 1.650 5.094
2017-04-12 1.600 3.518
2016-06-01 1.550 4.090
2015-03-31 1.450 4.018
2014-03-31 1.800 4.079
2013-04-17 1.600 4.026
2012-04-10 1.400 4.330
2012-01-16 1.400 3.583
2011-03-07 1.000 2.763
2010-11-01 0.000 0.000
2010-07-29 0.000 0.000
2010-04-30 0.000 0.000
2010-03-01 0.000 0.000

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

  • Progress-Werk Oberkirch has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Progress-Werk Oberkirch only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Progress-Werk Oberkirch's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.5x coverage).
X
Income/ dividend checks
We assess Progress-Werk Oberkirch's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Progress-Werk Oberkirch afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Progress-Werk Oberkirch 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 Progress-Werk Oberkirch'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
Volker Simon
COMPENSATION €801,000
AGE 57
TENURE AS CEO 5.8 years
CEO Bio

Dr. Volker Simon has been the Chief Executive Officer of Progress Werk Oberkirch AG since July 01, 2014 and has been its Member of Management Board since July 1, 2001. Dr. Simon served as Director of Sales & Distributions at ISRINGHAUSEN GmbH & Co. KG. He is an Honorary Professor at the University of Stuttgart and has more than 20 years of industry experience with a focus on the automotive supplier industry. Dr. Simon has held senior positions in international sales and in the management board of Isringhausen, where he was instrumental in its progression to its current market position. Dr. Simon studied Mechanical Engineering at the Technical Universities of Munich and Darmstadt and at Cornell University (USA) and received his doctorate in Darmstadt.

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

Volker Simon

TITLE
CEO & Member of Management Board
COMPENSATION
€801K
AGE
57
TENURE
5.8 yrs

Bernd Bartmann

TITLE
CFO & Member of Management Board
COMPENSATION
€719K
AGE
63

Johannes Obrecht

TITLE
COO & Member of the Management Board
COMPENSATION
€549K
AGE
53
TENURE
3.8 yrs
Board of Directors Tenure

Average tenure and age of the Progress-Werk Oberkirch board of directors in years:

3.9
Average Tenure
61
Average Age
  • The tenure for the Progress-Werk Oberkirch board of directors is about average.
Board of Directors

Karl Schmidhuber

TITLE
Chairman of Supervisory Board
COMPENSATION
€74K
AGE
71
TENURE
3.9 yrs

Georg Hengstberger

TITLE
Deputy Chairman of the Supervisory Board
COMPENSATION
€51K
AGE
56
TENURE
1.9 yrs

Dieter Maier

TITLE
Honorary Chairman of the Supervisory Board
TENURE
3.9 yrs

Carsten Claus

TITLE
Member of Supervisory Board
COMPENSATION
€28K
AGE
66
TENURE
1.9 yrs

Herbert König

TITLE
Employee Representative Member of Supervisory Board
COMPENSATION
€36K
AGE
61
TENURE
13.9 yrs

Gerhard Schrempp

TITLE
Employee Representative Member of Supervisory Board
COMPENSATION
€28K
AGE
48
TENURE
3.9 yrs

Jochen Ruetz

TITLE
Member of Supervisory Board
COMPENSATION
€24K
TENURE
1.9 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 (€) Value (€)
X
Management checks
We assess Progress-Werk Oberkirch'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. Progress-Werk Oberkirch 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

Is It Too Late To Consider Buying Progress-Werk Oberkirch AG (FRA:PWO)?

Progress-Werk Oberkirch AG (FRA:PWO), which is in the auto components business, and is based in Germany, saw a double-digit share price rise of over 10% in the past couple of months on the DB. … This is because Progress-Werk Oberkirch’s beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price.

Simply Wall St -

Is Progress-Werk Oberkirch AG (FRA:PWO) A Great Dividend Stock?

Dividend paying stocks like Progress-Werk Oberkirch AG (FRA:PWO) tend to be popular with investors, and for good reason - some research suggests a significant amount of all stock market returns come from reinvested dividends. … It's positive to see that Progress-Werk Oberkirch's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut. … Progress-Werk Oberkirch is carrying net debt of 3.26 times its EBITDA, which is getting towards the upper limit of our comfort range on a dividend stock that the investor hopes will endure a wide range of economic circumstances.

Simply Wall St -

Should You Worry About Progress-Werk Oberkirch AG’s (FRA:PWO) 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 Progress-Werk Oberkirch: 0.062 = €17m ÷ (€424m - €158m) (Based on the trailing twelve months to March 2019.) Therefore, Progress-Werk Oberkirch has an ROCE of 6.2%. … How Progress-Werk Oberkirch's Current Liabilities Impact Its ROCE Current liabilities are short term bills and invoices that need to be paid in 12 months or less. … Progress-Werk Oberkirch's middling level of current liabilities have the effect of boosting its ROCE a bit.

Simply Wall St -

Does The Data Make Progress-Werk Oberkirch AG (FRA:PWO) An Attractive Investment?

In the case of Progress-Werk Oberkirch AG (FRA:PWO), there's is a notable dividend payer that has been a rockstar for income investors, currently trading at an attractive share price. … Very undervalued average dividend payer PWO's shares are now trading at a price below its true value based on its discounted cash flows, indicating a relatively pessimistic market sentiment. … DB:PWO Historical Dividend Yield, June 10th 2019 Next Steps: For Progress-Werk Oberkirch, I've compiled three pertinent aspects you should further research: Future Outlook: What are well-informed industry analysts predicting for PWO’s future growth?

Simply Wall St -

Does The Progress-Werk Oberkirch AG (FRA:PWO) Share Price Tend To Follow The Market?

If you own shares in Progress-Werk Oberkirch AG (FRA:PWO) then it's worth thinking about how it contributes to the volatility of your portfolio, overall. … Beta is worth considering, but it's also important to consider whether Progress-Werk Oberkirch is growing earnings and revenue. … What this means for you: Since Progress-Werk Oberkirch has a reasonably high beta, it's worth considering why it is so heavily influenced by broader market sentiment.

Simply Wall St -

Such Is Life: How Progress Werk Oberkirch (FRA:PWO) Shareholders Saw Their Shares Drop 56%

But the main game is to find enough winners to more than offset the losers At this point some shareholders may be questioning their investment in Progress Werk Oberkirch AG (FRA:PWO), since the last five years saw the share price fall 56%. … There will continue to be wide discrepancies between price and value in the marketplace...' By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Looking back five years, both Progress Werk Oberkirch's share price and EPS declined; the latter at a rate of 15% per year.

Simply Wall St -

Progress Werk Oberkirch AG (FRA:PWO): What Are The Future Prospects?

Want to participate in a short research study? … Help shape the future of investing tools and you could win a $250 gift card! … Based on Progress Werk Oberkirch AG's (FRA:PWO) earnings update in December 2018,

Simply Wall St -

Here's What Progress Werk Oberkirch AG's (FRA:PWO) P/E Is Telling Us

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … We'll look at Progress Werk Oberkirch AG's (FRA:PWO) P/E ratio and reflect on what it tells us about the company's share price. … Progress Werk Oberkirch has a price to earnings ratio of 12.56, based on the last twelve months.

Simply Wall St -

Are Investors Undervaluing Progress Werk Oberkirch AG (FRA:PWO) By 30%?

Today we will run through one way of estimating the intrinsic value of Progress Werk Oberkirch AG (FRA:PWO). … We generally believe that a company's value is the present value of all of the cash it will generate in the future. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model.

Simply Wall St -

Is Progress Werk Oberkirch AG's (FRA:PWO) Future Growth Already Accounted For In Today's Price?

Progress Werk Oberkirch AG (FRA:PWO) is a stock well-positioned for future growth, but many investors are wondering whether its last closing price of €26.7 is based on unrealistic expectations. … See our latest analysis for Progress Werk Oberkirch? … Progress Werk Oberkirch is poised for significantly high earnings growth in the near future

Simply Wall St -

Company Info

Description

Progress-Werk Oberkirch AG develops and manufactures advanced metal components and subsystems used in lightweight construction for the automotive safety and comfort in Germany, rest of Europe, North America, and Asia. It offers mechanical components for electrical and electronic applications, such as motor housings, housings for electronic control units, rotor housings, and covers for electronic control units. The company also provides safety components for airbags, seats, and steering systems; and structural components and sub-systems for vehicle body and chassis consisting of body components, instrument panel carriers, and air spring pots. The company was founded in 1919 and is headquartered in Oberkirch, Germany.

Details
Name: Progress-Werk Oberkirch AG
PWO
Exchange: DB
Founded: 1919
€56,250,000
3,125,000
Website: http://www.progress-werk.de
Address: Progress-Werk Oberkirch AG
Industriestrasse 8,
Oberkirch,
Baden-Württemberg, 77704,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA PWO Ordinary Shares XETRA Trading Platform DE EUR 02. Jan 1992
DB PWO Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0NHL Ordinary Shares London Stock Exchange GB EUR 02. Jan 1992
BATS-CHIXE PWOd Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
Number of employees
Current staff
Staff numbers
3,266
Progress-Werk Oberkirch employees.
Industry
Auto Parts and Equipment
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 21:30
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/02
Last earnings filing: 2019/11/07
Last earnings reported: 2019/09/30
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.