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BayWa

XTRA:BYW
Snowflake Description

Established dividend payer with limited growth.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BYW
XTRA
€999M
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

BayWa Aktiengesellschaft provides wholesale, retail, logistics, and support and consultancy services in the agriculture, building materials, and energy sectors in Germany and internationally. The last earnings update was 28 days ago. More info.


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BYW Share Price and Events
7 Day Returns
-3.9%
XTRA:BYW
-1.5%
DE Trade Distributors
-0.9%
DE Market
1 Year Returns
-2.7%
XTRA:BYW
15.6%
DE Trade Distributors
11.1%
DE Market
BYW Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
BayWa (BYW) -3.9% 1.4% -3.3% -2.7% -7.6% -14%
DE Trade Distributors -1.5% 5.5% 5.9% 15.6% -6.8% 3.2%
DE Market -0.9% 0.4% 7.7% 11.1% 11.1% 16.9%
1 Year Return vs Industry and Market
  • BYW underperformed the Trade Distributors industry which returned 15.6% over the past year.
  • BYW underperformed the Market in Germany which returned 11.1% over the past year.
Price Volatility
BYW
Industry
5yr Volatility vs Market

Value

 Is BayWa 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 BayWa 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 BayWa.

XTRA:BYW Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 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 XTRA:BYW
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Trade Distributors Unlevered Beta Simply Wall St/ S&P Global 0.94
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.936 (1 + (1- 30%) (420.91%))
2.806
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 XTRA:BYW using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for BayWa 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.

XTRA:BYW DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 10.49%)
2020 62.63 Analyst x3 56.69
2021 76.28 Analyst x4 62.48
2022 149.00 Analyst x2 110.46
2023 141.15 Analyst x2 94.71
2024 136.06 Est @ -3.6% 82.63
2025 132.47 Est @ -2.64% 72.81
2026 129.87 Est @ -1.96% 64.60
2027 127.93 Est @ -1.49% 57.60
2028 126.44 Est @ -1.16% 51.52
2029 125.27 Est @ -0.93% 46.20
Present value of next 10 years cash flows €699.00
XTRA:BYW DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €125.27 × (1 + -0.39%) ÷ (10.49% – -0.39%)
€1,146.88
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,146.88 ÷ (1 + 10.49%)10
€422.95
XTRA:BYW Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €699.00 + €422.95
€1,121.95
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,121.95 / 35.28
€31.8
XTRA:BYW Discount to Share Price
Calculation Result
Value per share (EUR) From above. €31.80
Current discount Discount to share price of €29.20
= -1 x (€29.20 - €31.80) / €31.80
8.2%

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

Current Discount
Amount off the current price BayWa is available for.
Intrinsic value
8%
Share price is €29.2 vs Future cash flow value of €31.8
Current Discount Checks
For BayWa to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • BayWa's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • BayWa's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for BayWa's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are BayWa's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
XTRA:BYW PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in EUR €1.42
XTRA:BYW Share Price ** XTRA (2019-12-05) in EUR €29.2
Germany Trade Distributors Industry PE Ratio Median Figure of 7 Publicly-Listed Trade Distributors Companies 15.42x
Germany Market PE Ratio Median Figure of 404 Publicly-Listed Companies 20.32x

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

** Primary Listing of BayWa.

XTRA:BYW PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 29.2 ÷ 1.42

20.54x

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

  • BayWa is overvalued based on earnings compared to the DE Trade Distributors industry average.
  • BayWa is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does BayWa's expected growth come at a high price?
Raw Data
XTRA:BYW PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 20.54x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
16.1%per year
Europe Trade Distributors Industry PEG Ratio Median Figure of 32 Publicly-Listed Trade Distributors Companies 1.58x
Germany Market PEG Ratio Median Figure of 261 Publicly-Listed Companies 1.42x

*Line of best fit is calculated by linear regression .

XTRA:BYW PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 20.54x ÷ 16.1%

1.27x

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

  • BayWa is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on BayWa's assets?
Raw Data
XTRA:BYW PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in EUR €28.41
XTRA:BYW Share Price * XTRA (2019-12-05) in EUR €29.2
Germany Trade Distributors Industry PB Ratio Median Figure of 10 Publicly-Listed Trade Distributors Companies 1.35x
Germany Market PB Ratio Median Figure of 578 Publicly-Listed Companies 1.84x
XTRA:BYW PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 29.2 ÷ 28.41

1.03x

* Primary Listing of BayWa.

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

  • BayWa is good value based on assets compared to the DE Trade Distributors industry average.
X
Value checks
We assess BayWa'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 Trade Distributors 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 Trade Distributors industry average (and greater than 0)? (1 check)
  5. BayWa has a total score of 1/6, 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 BayWa expected to perform in the next 1 to 3 years based on estimates from 5 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
16.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is BayWa expected to grow at an attractive rate?
  • BayWa's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • BayWa's earnings growth is expected to exceed the Germany market average.
  • BayWa's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
XTRA:BYW Future Growth Rates Data Sources
Data Point Source Value (per year)
XTRA:BYW Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 16.1%
XTRA:BYW Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 3.2%
Europe Trade Distributors Industry Earnings Growth Rate Market Cap Weighted Average 9.2%
Europe Trade Distributors Industry Revenue Growth Rate Market Cap Weighted Average 3.7%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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
XTRA:BYW Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
XTRA:BYW Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 19,441 353 4
2022-12-31 18,806 333 89 4
2021-12-31 18,183 274 70 5
2020-12-31 17,650 261 57 4
2019-12-31 17,133 347 53 4
2019-12-05
XTRA:BYW Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-09-30 16,915 50
2019-06-30 16,779 -392 40
2019-03-31 16,919 37
2018-12-31 16,637 -452 32
2018-09-30 16,280 -7
2018-06-30 16,290 -310 7
2018-03-31 16,052 6
2017-12-31 16,063 -170 39
2017-09-30 15,961 32
2017-06-30 16,005 445 46
2017-03-31 15,757 47
2016-12-31 15,418 209 31

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • BayWa's earnings are expected to grow by 16.1% yearly, however this is not considered high growth (20% yearly).
  • BayWa's revenue is expected to grow by 3.2% 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
XTRA:BYW Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from BayWa Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XTRA:BYW Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.84 1.96 1.72 2.00
2020-12-31 1.52 1.58 1.45 2.00
2019-12-31 1.43 1.64 1.22 2.00
2019-12-05
XTRA:BYW Past Financials Data
Date (Data in EUR Millions) EPS *
2019-09-30 1.42
2019-06-30 1.15
2019-03-31 1.06
2018-12-31 0.92
2018-09-30 -0.19
2018-06-30 0.21
2018-03-31 0.16
2017-12-31 1.13
2017-09-30 0.91
2017-06-30 1.32
2017-03-31 1.34
2016-12-31 0.90

*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.
  • BayWa is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess BayWa'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.
BayWa 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 BayWa 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 BayWa's growth in the last year to its industry (Trade Distributors).
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.
  • BayWa's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • BayWa has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • BayWa has become profitable in the last year making it difficult to compare the DE Trade Distributors industry average.
Earnings and Revenue History
BayWa'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 BayWa Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XTRA:BYW 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 16,915.20 50.00 1,182.50
2019-06-30 16,778.50 40.30 1,162.30
2019-03-31 16,918.50 37.10 1,143.10
2018-12-31 16,636.50 32.30 1,121.40
2018-09-30 16,279.90 -6.60 1,088.20
2018-06-30 16,289.50 7.20 1,071.70
2018-03-31 16,052.10 5.50 1,059.50
2017-12-31 16,063.30 39.30 1,051.10
2017-09-30 15,960.69 32.05 978.32
2017-06-30 16,004.94 46.02 964.40
2017-03-31 15,757.10 46.83 947.88
2016-12-31 15,417.73 31.13 933.09
2016-09-30 15,274.52 44.94 920.19
2016-06-30 14,971.98 50.06 907.01
2016-03-31 14,951.64 41.03 900.87
2015-12-31 14,931.95 48.20 891.54
2015-09-30 14,863.07 64.43 935.06
2015-06-30 14,935.23 46.91 930.71
2015-03-31 15,043.69 54.84 914.97
2014-12-31 15,207.12 61.43 905.16
2014-09-30 15,244.94 24.01 908.65
2014-06-30 15,378.10 28.73 908.53
2014-03-31 15,860.69 107.54 908.18
2013-12-31 15,959.82 98.20 903.51
2013-09-30 14,839.03 139.10 881.62
2013-06-30 13,677.93 149.54 861.02
2013-03-31 12,029.56 92.31 840.58
2012-12-31 10,536.07 96.71 821.17

*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.
  • BayWa has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • BayWa used its assets less efficiently than the DE Trade Distributors industry average last year based on Return on Assets.
  • BayWa has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess BayWa'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 Trade Distributors 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.
BayWa has a total score of 1/6, 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 BayWa'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 BayWa's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • BayWa is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • BayWa's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of BayWa'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 1.7x 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 BayWa Company Filings, last reported 2 months ago.

XTRA:BYW Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 1,333.10 3,461.70 161.10
2019-06-30 1,351.40 3,116.80 135.30
2019-03-31 1,362.80 3,246.00 262.30
2018-12-31 1,389.10 3,120.00 122.50
2018-09-30 1,333.30 2,843.40 101.70
2018-06-30 1,363.80 2,405.40 128.10
2018-03-31 1,391.00 2,416.90 110.50
2017-12-31 1,435.60 2,327.10 107.50
2017-09-30 1,119.80 2,787.41 344.21
2017-06-30 1,111.56 2,595.14 236.52
2017-03-31 1,108.44 2,644.65 274.18
2016-12-31 1,098.35 2,624.56 106.41
2016-09-30 1,074.63 2,665.46 131.71
2016-06-30 1,068.71 2,452.47 86.17
2016-03-31 1,053.28 2,543.42 104.07
2015-12-31 1,075.90 2,386.65 86.60
2015-09-30 1,096.15 2,388.50 133.36
2015-06-30 1,088.50 2,198.81 113.25
2015-03-31 1,122.33 2,199.35 127.45
2014-12-31 1,050.38 2,117.49 110.57
2014-09-30 1,136.10 2,044.31 97.97
2014-06-30 1,189.07 1,718.41 106.94
2014-03-31 1,182.77 1,724.71 97.44
2013-12-31 1,181.99 1,756.56 94.24
2013-09-30 1,159.69 1,689.76 96.36
2013-06-30 1,157.31 1,635.28 88.54
2013-03-31 1,075.96 1,879.73 70.62
2012-12-31 1,077.96 1,534.80 85.18
  • BayWa's level of debt (259.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (180.2% vs 259.7% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are not well covered by earnings (EBIT is 2.2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess BayWa'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. BayWa has a total score of 2/6, 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 BayWa's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.08%
Current annual income from BayWa dividends. Estimated to be 3.51% next year.
If you bought €2,000 of BayWa shares you are expected to receive €62 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?
  • BayWa's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.42%).
  • BayWa's dividend is below the markets top 25% of dividend payers in Germany (3.66%).
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
XTRA:BYW 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 5 Analyst Estimates (S&P Global) See Below
Germany Trade Distributors Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 2.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 334 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

XTRA:BYW Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.05 2.00
2020-12-31 1.05 2.00
2019-12-31 0.98 2.00
2019-12-05
XTRA:BYW Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-28 0.900 2.899
2018-03-28 0.900 2.911
2017-03-30 0.850 2.565
2016-04-01 0.850 2.708
2016-03-31 0.850 2.851
2015-03-26 0.800 2.322
2014-03-11 0.750 1.965
2013-03-11 0.650 1.608
2012-08-02 0.600 1.645
2012-03-09 0.600 1.988
2011-03-29 0.500 1.632
2010-03-01 0.400 1.291
2010-01-04 0.400 1.375
2009-03-02 0.340 1.355

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of BayWa's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
X
Income/ dividend checks
We assess BayWa'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 BayWa afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. BayWa 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 BayWa'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
Klaus Lutz
AGE 60
TENURE AS CEO 11.4 years
CEO Bio

Prof. Klaus Josef Lutz has been the Chairman of the Management Board and Chief Executive Officer at BayWa AG at WKN USA, LLC since July 1, 2008. Prof. Lutz is responsible at BayWa for the Building Materials Segment as well as for Personnel, Corporate Business Development, Marketing, PR/Corporate Communication and Internal Audit. He served as the Chief Executive Officer of Süddeutscher Verlag GmbH from 2002 to 2008 and also served as its Head of Business Development. He served as General Manager of Digital Equipment GmbH, Chief Executive Officer of DITEC Informationstechnologie AG, General Manager of Burda Druck GmbH and Chief Executive Officer of i-center Beteiligungen AG. Prof. Lutz served as the General Manager of Süddeutscher Verlag GmbH. He has been the Chairman and Director of T&G Global Limited since April 3, 2012. He serves as the Chairman of Supervisory Board at Cefetra BV. He serves as Chairman of Unser Lagerhaus Warenhandelsgesellschaft m.b.H. He serves as the Chairman of supervisory board at GoodMills Deutschland GmbH and VK Muehlen AG. He serves as the Chairman of Supervisory Board at Euro Pool System International B.V. He serves as Vice Chairman of RWA Raiffeisen Ware Austria AG. He serves as 1st Deputy Member of the Supervisory Board at RWA Raiffeisen Ware Austria AG. He has been a Member of Supervisory Board at Graphit Kropfmuehl AG since May 6, 2008. He serves as a Member of the Supervisory Board at MAN Nutzfahrzeuge AG; BRVG GmbH; RENERCO Renewable Energy Concepts AG; DRWZ; Eramon AG; Raiffeisen- und Volksbank Touristik and RWA Raiffeisen Ware Austria AG. He serves as Member of Advisory Council at DZ Bank AG. He is an attorney of law. Prof. Lutz holds a Law Degree from the LMU in Munich.

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

Average tenure of the BayWa management team in years:

5.5
Average Tenure
  • The average tenure for the BayWa management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Klaus Lutz

TITLE
Chairman of the Management Board & CEO
AGE
60
TENURE
11.4 yrs

Andreas Helber

TITLE
CFO & Member of the Management Board
TENURE
9.1 yrs

Reinhard Wolf

TITLE
Member of the Management Board
AGE
59
TENURE
6.3 yrs

Matthias Taft

TITLE
Member of the Management Board
TENURE
4.7 yrs

Marcus Pöllinger

TITLE
Member of Management Board
TENURE
1.1 yrs

Josko Radeljic

TITLE
Head of Investor Relations

Marion Meyer

TITLE
Head of Grain Trading In Germany
TENURE
2.6 yrs
Board of Directors Tenure

Average tenure of the BayWa board of directors in years:

5.5
Average Tenure
  • The tenure for the BayWa board of directors is about average.
Board of Directors

Manfred Nüssel

TITLE
Chairman of the Supervisory Board & Vice Chairman of the Cooperative Council

Werner Waschbichler

TITLE
Vice Chairman of the Supervisory Board
TENURE
1.5 yrs

Klaus Buchleitner

TITLE
Vice Chairman of Supervisory Board
AGE
55

Wolfgang Altmüller

TITLE
Member of Supervisory Board
AGE
53
TENURE
5.5 yrs

Karlheinz Kipke

TITLE
Chairman of the Cooperative Council
TENURE
3.3 yrs

Gerd Sonnleitner

TITLE
Member of the Cooperative Council

Franz Kustner

TITLE
Member of the Cooperative Council

Martin Körner

TITLE
Member of the Cooperative Council
TENURE
16.4 yrs

Martin Empl

TITLE
Member of the Cooperative Council

Theo Bergmann

TITLE
Member of Supervisory Board
TENURE
6.5 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 BayWa'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. BayWa 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

BayWa Aktiengesellschaft (ETR:BYW): What Does The Future Look Like?

On 30 June 2019, BayWa Aktiengesellschaft (ETR:BYW) released its earnings update. … To understand the overall trajectory of BYW's earnings growth over these next fews years, I've fitted a line through these analyst earnings forecast to determine an annual growth rate from the slope. … XTRA:BYW Past and Future Earnings, August 28th 2019 From the current net income level of €32m and the final forecast of €59m by 2022, the annual rate of growth for BYW’s earnings is 16%.

Simply Wall St -

Is BayWa Aktiengesellschaft (ETR:BYW) An Attractive Dividend Stock?

Is BayWa Aktiengesellschaft (ETR:BYW) a good dividend stock? How can we tell? Dividend paying companies with growing earnings can be highly rewarding in the long term. If you are hoping to live on your dividends, it's important to be more stringent with your investments than the average punter. Regular readers know we like to apply the same approach to each dividend stock, and we hope you'll find our analysis useful. While BayWa's 2.8% dividend yield is not the highest, we think its lengthy payment history is quite interesting. Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1. We'll run through some checks below to help with this. Click the interactive chart for our full dividend analysis XTRA:BYW Historical Dividend Yield, August 10th 2019 Payout ratios Dividends are usually paid out of company earnings. If a company is paying more than it earns, then the dividend might become unsustainable - hardly an ideal situation. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. In the last year, BayWa paid out 78% of its profit as dividends. Paying out a majority of its earnings limits the amount that can be reinvested in the business. This may indicate a commitment to paying a dividend, or a dearth of investment opportunities. Another important check we do is to see if the free cash flow generated is sufficient to pay the dividend. Last year, BayWa paid a dividend while reporting negative free cash flow. While there may be an explanation, we think this behaviour is generally not sustainable. Is BayWa's Balance Sheet Risky? As BayWa has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. Net debt to EBITDA is a measure of a company's total debt. Net interest cover measures the ability to meet interest payments. Essentially we check that a) the company does not have too much debt, and b) that it can afford to pay the interest. … Dividends are about stability, and BayWa's earnings per share, which support the dividend, have been anything but stable. … Conclusion To summarise, shareholders should always check that BayWa's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend.

Simply Wall St -

Company Info

Description

BayWa Aktiengesellschaft provides wholesale, retail, logistics, and support and consultancy services in the agriculture, building materials, and energy sectors in Germany and internationally. Its Agriculture segment trades in agricultural resources, such as fertilizers, crop protection, grains, seeds, and feedstuff; collects, stores, and sells harvested produce; and supplies dessert and organic pome fruits. This segment also offers a line of machinery, equipment, and facilities for agricultural; municipal vehicles, road sweeping vehicles, mobile facilities for wood shredding, and forklift trucks; forestry tractors, wood splitting and chipping machinery, forest milling cutters and mulchers, cable winches, and road and path construction machinery; and appliances, such as chainsaws, brush cutters, and protective clothing. In addition, it operates a network of workshops and mobile service vehicles to provide maintenance and repair services. The company’s Energy segment sells heating oil, fuels, lubricants, and wood pellets to commercial and private customers; plans, manages, and constructs wind power, photovoltaic, and biomass plants; and owns wind and biogas plants, as well as trades in photovoltaic components. Its Building Materials segment trades in building materials for small and mid-sized companies, tradesmen, commercial enterprises, and municipalities, as well as private developers and homeowners. This segment also acts as franchiser for DIY and garden centers. The company’s Innovation & Digitalisation segment develops and markets digital products, such as Agrar office and NEXT Farming software solutions; and offers digital map material, analysis, and advisory services, as well as hardware components. This segment is also involved in the e-commerce activities. BayWa Aktiengesellschaft was founded in 1923 and is headquartered in Munich, Germany.

Details
Name: BayWa Aktiengesellschaft
BYW
Exchange: XTRA
Founded: 1923
€999,345,252
35,279,062
Website: http://www.baywa.com
Address: BayWa Aktiengesellschaft
Arabellastrasse 4,
Munich,
Bavaria, 81925,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA BYW Registered Shares XETRA Trading Platform DE EUR 02. Jan 1992
DB BYW Registered Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0AH6 Registered Shares London Stock Exchange GB EUR 02. Jan 1992
BATS-CHIXE BYWD Registered Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
XTRA BYW6 Restricted Registered Shares XETRA Trading Platform DE EUR 02. Jan 1992
DB BYW6 Restricted Registered Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0AH7 Restricted Registered Shares London Stock Exchange GB EUR 02. Jan 1992
SWX BYW6 Restricted Registered Shares SIX Swiss Exchange CH CHF 02. Jan 1992
WBAG BYW6 Restricted Registered Shares Wiener Boerse AG AT EUR 02. Jan 1992
BATS-CHIXE BYW6D Restricted Registered Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
Number of employees
Current staff
Staff numbers
18,721
BayWa employees.
Industry
Trading Companies and Distributors
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/05 21:01
End of day share price update: 2019/12/05 00:00
Last estimates confirmation: 2019/11/14
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.