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Garo Aktiebolag

DB:46G
Snowflake Description

Flawless balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
46G
DB
SEK3B
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

Garo Aktiebolag (publ) develops, manufactures, and markets products and systems for the electrical installations industry in Sweden. The last earnings update was 42 days ago. More info.


Add to Portfolio Compare Print
  • Garo Aktiebolag has significant price volatility in the past 3 months.
46G Share Price and Events
7 Day Returns
20.9%
DB:46G
9.2%
DE Electrical
9.9%
DE Market
1 Year Returns
18%
DB:46G
-8.2%
DE Electrical
-17.5%
DE Market
46G Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Garo Aktiebolag (46G) 20.9% -14% -15.8% 18% -5.3% -
DE Electrical 9.2% -20.6% -35.2% -8.2% -43.7% -44.1%
DE Market 9.9% -16.6% -24.8% -17.5% -24.5% -28.1%
1 Year Return vs Industry and Market
  • 46G outperformed the Electrical industry which returned -8.2% over the past year.
  • 46G outperformed the Market in Germany which returned -17.5% over the past year.
Price Volatility
46G
Industry
5yr Volatility vs Market

Value

 Is Garo Aktiebolag 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 Garo Aktiebolag 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 Garo Aktiebolag.

DB:46G 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 5.6%
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:46G
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Electrical Unlevered Beta Simply Wall St/ S&P Global 1.12
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.118 (1 + (1- 22%) (2.87%))
1.096
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.096 * 5.44%)
5.57%

Discounted Cash Flow Calculation for DB:46G using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Garo Aktiebolag 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:46G DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SEK, Millions) Source Present Value
Discounted (@ 5.57%)
2020 60.50 Analyst x2 57.31
2021 61.00 Analyst x2 54.73
2022 77.00 Analyst x2 65.44
2023 77.33 Est @ 0.43% 62.25
2024 77.47 Est @ 0.18% 59.07
2025 77.48 Est @ 0.01% 55.96
2026 77.39 Est @ -0.11% 52.95
2027 77.24 Est @ -0.19% 50.06
2028 77.05 Est @ -0.25% 47.29
2029 76.82 Est @ -0.29% 44.67
Present value of next 10 years cash flows SEK549.00
DB:46G DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= SEK76.82 × (1 + -0.39%) ÷ (5.57% – -0.39%)
SEK1,283.36
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SEK1,283.36 ÷ (1 + 5.57%)10
SEK746.16
DB:46G Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SEK549.00 + SEK746.16
SEK1,295.16
Equity Value per Share
(SEK)
= Total value / Shares Outstanding
= SEK1,295.16 / 10.00
SEK129.52
DB:46G Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:46G represents 0.08883x of OM:GARO
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.08883x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (SEK) x Listing Adjustment Factor
= SEK 129.52 x 0.08883
€11.50
Value per share (EUR) From above. €11.50
Current discount Discount to share price of €24.25
= -1 x (€24.25 - €11.50) / €11.50
-110.8%

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

  • The current share price of Garo Aktiebolag is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Garo Aktiebolag's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Garo Aktiebolag's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:46G PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in SEK SEK8.57
OM:GARO Share Price ** OM (2020-03-31) in SEK SEK273
Germany Electrical Industry PE Ratio Median Figure of 6 Publicly-Listed Electrical Companies 22.57x
Germany Market PE Ratio Median Figure of 399 Publicly-Listed Companies 16.31x

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

** Primary Listing of Garo Aktiebolag.

DB:46G PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OM:GARO Share Price ÷ EPS (both in SEK)

= 273 ÷ 8.57

31.86x

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

  • Garo Aktiebolag is overvalued based on earnings compared to the DE Electrical industry average.
  • Garo Aktiebolag is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Garo Aktiebolag's expected growth come at a high price?
Raw Data
DB:46G PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 31.86x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
13.5%per year
Germany Electrical Industry PEG Ratio Median Figure of 5 Publicly-Listed Electrical Companies 1x
Germany Market PEG Ratio Median Figure of 255 Publicly-Listed Companies 1.18x

*Line of best fit is calculated by linear regression .

DB:46G PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 31.86x ÷ 13.5%

2.36x

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

  • Garo Aktiebolag is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Garo Aktiebolag's assets?
Raw Data
DB:46G PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in SEK SEK34.30
OM:GARO Share Price * OM (2020-03-31) in SEK SEK273
Germany Electrical Industry PB Ratio Median Figure of 14 Publicly-Listed Electrical Companies 1.69x
Germany Market PB Ratio Median Figure of 571 Publicly-Listed Companies 1.43x
DB:46G PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OM:GARO Share Price ÷ Book Value per Share (both in SEK)

= 273 ÷ 34.30

7.96x

* Primary Listing of Garo Aktiebolag.

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

  • Garo Aktiebolag is overvalued based on assets compared to the DE Electrical industry average.
X
Value checks
We assess Garo Aktiebolag'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 Electrical 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 Electrical industry average (and greater than 0)? (1 check)
  5. Garo Aktiebolag has a total score of 0/6, 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 Garo Aktiebolag 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
13.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Garo Aktiebolag expected to grow at an attractive rate?
  • Garo Aktiebolag's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Garo Aktiebolag's earnings growth is positive but not above the Germany market average.
  • Garo Aktiebolag's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:46G Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:46G Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 13.5%
DB:46G Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 11.9%
Germany Electrical Industry Earnings Growth Rate Market Cap Weighted Average 69.2%
Germany Electrical Industry Revenue Growth Rate Market Cap Weighted Average 12.4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.4%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*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:46G Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:46G Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,443 110 129 2
2021-12-31 1,261 95 112 2
2020-12-31 1,115 58 98 2
2020-03-31
DB:46G Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2019-12-31 1,011 115 86
2019-09-30 1,004 76 87
2019-06-30 981 90 92
2019-03-31 947 72 88
2018-12-31 906 74 83
2018-09-30 876 61 83
2018-06-30 847 40 84
2018-03-31 824 47 86
2017-12-31 797 52 86
2017-09-30 758 70 81
2017-06-30 723 74 76
2017-03-31 691 67 73

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Garo Aktiebolag's earnings are expected to grow by 13.5% yearly, however this is not considered high growth (20% yearly).
  • Garo Aktiebolag's revenue is expected to grow by 11.9% 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
DB:46G 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 2 Analyst Estimates (S&P Global) See Below

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

DB:46G Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 12.88 15.14 10.62 2.00
2021-12-31 11.24 12.48 10.00 2.00
2020-12-31 9.80 10.22 9.37 2.00
2020-03-31
DB:46G Past Financials Data
Date (Data in SEK Millions) EPS *
2019-12-31 8.57
2019-09-30 8.67
2019-06-30 9.15
2019-03-31 8.84
2018-12-31 8.27
2018-09-30 8.32
2018-06-30 8.37
2018-03-31 8.62
2017-12-31 8.56
2017-09-30 8.13
2017-06-30 7.57
2017-03-31 7.32

*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.
  • Garo Aktiebolag is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Garo Aktiebolag'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.
Garo Aktiebolag has a total score of 3/6, 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 Garo Aktiebolag 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 Garo Aktiebolag's growth in the last year to its industry (Electrical).
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.
  • Garo Aktiebolag's year on year earnings growth rate has been positive over the past 5 years.
  • Garo Aktiebolag's 1-year earnings growth is less than its 5-year average (3.6% vs 19.6%)
  • Garo Aktiebolag's earnings growth has not exceeded the DE Electrical industry average in the past year (3.6% vs 17.2%).
Earnings and Revenue History
Garo Aktiebolag'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 Garo Aktiebolag Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:46G Past Revenue, Cash Flow and Net Income Data
Date (Data in SEK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 1,010.90 85.70 357.70
2019-09-30 1,003.80 86.70 356.70
2019-06-30 980.70 91.50 349.50
2019-03-31 947.10 88.40 334.80
2018-12-31 906.00 82.70 320.50
2018-09-30 876.40 83.20 312.70
2018-06-30 847.30 83.70 305.20
2018-03-31 824.00 86.20 296.70
2017-12-31 797.20 85.60 283.30
2017-09-30 758.10 81.30 266.20
2017-06-30 722.90 75.70 249.20
2017-03-31 690.50 73.20 233.00
2016-12-31 658.60 57.00 221.40
2016-09-30 628.60 46.30 212.20
2016-06-30 615.80 44.70 205.30
2016-03-31 587.80 39.00 197.80
2015-12-31 556.80 45.80 189.40
2014-12-31 441.70 22.90 165.60
2013-12-31 383.10 15.00 156.60

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Garo Aktiebolag is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Garo Aktiebolag's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Garo Aktiebolag'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 5.6x 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 Garo Aktiebolag Company Filings, last reported 3 months ago.

DB:46G Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 343.00 78.30 40.80
2019-09-30 319.80 102.40 7.40
2019-06-30 302.50 109.40 7.10
2019-03-31 322.50 51.80 7.20
2018-12-31 296.20 54.10 8.40
2018-09-30 272.10 72.60 5.30
2018-06-30 249.60 101.20 8.30
2018-03-31 274.50 73.20 20.10
2017-12-31 252.70 84.30 28.20
2017-09-30 225.20 65.00 14.90
2017-06-30 202.60 55.70 15.70
2017-03-31 213.70 39.10 24.00
2016-12-31 194.40 24.30 41.60
2016-09-30 174.40 26.10 14.60
2016-06-30 155.30 37.30 15.60
2016-03-31 139.50 37.90 12.90
2015-12-31 156.90 22.80 23.20
2014-12-31 135.70 41.30 22.00
2013-12-31 132.30 49.60 10.10
  • Garo Aktiebolag's level of debt (22.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (30.4% vs 22.8% today).
  • Debt is well covered by operating cash flow (146.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 45x coverage).
X
Financial health checks
We assess Garo Aktiebolag'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. Garo Aktiebolag has a total score of 6/6, 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 Garo Aktiebolag'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
1.54%
Current annual income from Garo Aktiebolag dividends. Estimated to be 2.05% next year.
If you bought €2,000 of Garo Aktiebolag shares you are expected to receive €31 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?
  • Garo Aktiebolag's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.68%).
  • Garo Aktiebolag's dividend is below the markets top 25% of dividend payers in Germany (4.97%).
Upcoming dividend payment

Purchase Garo Aktiebolag before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:46G 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 Electrical Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.8%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

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

DB:46G Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 6.50 2.00
2021-12-31 5.25 2.00
2020-12-31 5.00 2.00
2020-03-31
DB:46G Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2020-02-18 4.200 1.517
2019-04-08 4.000 1.360
2018-03-26 4.000 2.308
2017-04-03 2.850 1.368
2016-05-26 0.000 0.000

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

  • Whilst dividend payments have been stable, Garo Aktiebolag has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Garo Aktiebolag only paid a dividend in the past 3 years.
Current Payout to shareholders
What portion of Garo Aktiebolag's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Garo Aktiebolag's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 Garo Aktiebolag afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Garo Aktiebolag has a total score of 2/6, 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 Garo Aktiebolag'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
Patrik Andersson
AGE 41
TENURE AS CEO 1 years
CEO Bio

Mr. Patrik Andersson has been President and Chief Executive Officer at Garo Aktiebolag (publ) since May 2019. Mr. Andersson served as Marketing Manager at Garo Aktiebolag (publ) since 2015 until May 2019 and also served as its Temporary Chief Executive Officer since February 2019 until May 2019. He served as Sales & Marketing Director at Garo Aktiebolag. Mr. Andersson is a Electrician. Regional sales manager, west and south region, in Eldon Group.

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

Average tenure and age of the Garo Aktiebolag management team in years:

3.4
Average Tenure
49.5
Average Age
  • The tenure for the Garo Aktiebolag management team is about average.
Management Team

Patrik Andersson

TITLE
President & CEO
AGE
41
TENURE
1 yrs

Helena Claesson

TITLE
Chief Financial Officer
AGE
50
TENURE
1.2 yrs

Daniel Emilsson

TITLE
Chief Technology Officer
AGE
44
TENURE
3.4 yrs

Malin Thordén

TITLE
Investor Relations Director
AGE
49

Jan Larsgaard

TITLE
Chief Executive Officer of Garo Norway A/S
AGE
54
TENURE
23.2 yrs

Joe Ree

TITLE
CEO at GARO Electric IRL Ltd & Business Area Manager for GARO Other Markets
AGE
57
TENURE
23.2 yrs
Board of Directors Tenure

Average tenure and age of the Garo Aktiebolag board of directors in years:

1.8
Average Tenure
56
Average Age
  • The average tenure for the Garo Aktiebolag board of directors is less than 3 years, this suggests a new board.
Board of Directors

Stefan Jonsson

TITLE
Chairman of the Board
COMPENSATION
SEK300K
AGE
66
TENURE
1.8 yrs

Per Holmstedt

TITLE
Independent Director
COMPENSATION
SEK200K
AGE
69
TENURE
22.2 yrs

Rickard Blomqvist

TITLE
Director
COMPENSATION
SEK200K
AGE
48
TENURE
4.4 yrs

Lars-ÅKE Rydh

TITLE
Independent Director
COMPENSATION
SEK100K
AGE
66
TENURE
1.8 yrs

Susanna Hilleskog

TITLE
Independent Director
COMPENSATION
SEK100K
AGE
56
TENURE
1.8 yrs

Mari-Katharina Kadowaki

TITLE
Independent Director
AGE
55
TENURE
0.8 yrs

Jonas Lohtander

TITLE
Employee Representative Director
AGE
45
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • Garo Aktiebolag individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
25. Feb 20 Sell Daniel Emilsson Individual 21. Feb 20 24. Feb 20 -5,000 €36.91 €-178,064
21. Jan 20 Sell Jan Larsgaard Individual 20. Jan 20 20. Jan 20 -1,000 €32.99 €-32,986
15. Jan 20 Sell Per Holmstedt Individual 15. Jan 20 15. Jan 20 -1,000 €32.20 €-32,202
14. Jan 20 Sell Jan Larsgaard Individual 14. Jan 20 14. Jan 20 -1,000 €32.11 €-32,105
14. Jan 20 Sell Per Holmstedt Individual 13. Jan 20 14. Jan 20 -1,000 €32.20 €-31,890
10. Jan 20 Sell Per Holmstedt Individual 09. Jan 20 10. Jan 20 -1,500 €30.60 €-45,749
20. Dec 19 Sell Per Holmstedt Individual 19. Dec 19 19. Dec 19 -500 €29.15 €-14,574
17. Dec 19 Sell Per Holmstedt Individual 16. Dec 19 16. Dec 19 -20 €28.56 €-571
26. Aug 19 Buy Per Holmstedt Individual 26. Aug 19 26. Aug 19 20 €25.42 €508
11. Jun 19 Sell Jan Larsgaard Individual 11. Jun 19 11. Jun 19 -2,551 €27.37 €-69,824
10. Jun 19 Sell Jan Larsgaard Individual 07. Jun 19 07. Jun 19 -1,500 €25.79 €-38,685
06. Jun 19 Sell Jan Larsgaard Individual 05. Jun 19 05. Jun 19 -880 €25.43 €-22,374
05. Jun 19 Sell Jan Larsgaard Individual 03. Jun 19 04. Jun 19 -2,934 €25.43 €-74,488
23. May 19 Sell Per Holmstedt Individual 22. May 19 22. May 19 -170 €24.93 €-4,238
10. Apr 19 Buy Per Holmstedt Individual 10. Apr 19 10. Apr 19 45 €21.58 €971
03. Apr 19 Buy Per Holmstedt Individual 03. Apr 19 03. Apr 19 25 €21.12 €528
02. Apr 19 Buy Per Holmstedt Individual 02. Apr 19 02. Apr 19 40 €21.06 €843
01. Apr 19 Buy Per Holmstedt Individual 01. Apr 19 01. Apr 19 85 €20.47 €1,740
X
Management checks
We assess Garo Aktiebolag'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. Garo Aktiebolag 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

Company Info

Description

Garo Aktiebolag (publ) develops, manufactures, and markets products and systems for the electrical installations industry in Sweden. Its installation products include plugs and sockets, switches, switchboard GCS, switchboard system GPK, combination units, junction boxes, aluminum enclosures, IT and meter cabinets, meter boards, consumer units, DIN rail components, multiple socket outlets, and KNX products. The company also offers temporary power products, EV chargers, car powers, camping powers, marina powers, and accessories, as well as switchgear, cable cabinets, distribution units, and apartment fuse boxes. It serves electrical wholesalers, electrical installers, original equipment manufacturers, and industrial companies. The company also exports its products to Norway, Finland, Poland, Ireland, and internationally. Garo Aktiebolag (publ) was founded in 1939 and is headquartered in Gnosjö, Sweden.

Details
Name: Garo Aktiebolag (publ)
46G
Exchange: DB
Founded: 1939
SEK250,072,224
10,000,000
Website: http://www.garo.se
Address: Garo Aktiebolag (publ)
Södergatan 26,
Box 203,
Gnosjö,
Jönköping County, 335 33,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM GARO Share Capital OMX Nordic Exchange Stockholm SE SEK 16. Mar 2016
DB 46G Share Capital Deutsche Boerse AG DE EUR 16. Mar 2016
LSE 0REY Share Capital London Stock Exchange GB SEK 16. Mar 2016
BATS-CHIXE GAROS Share Capital BATS 'Chi-X Europe' GB SEK 16. Mar 2016
Number of employees
Current staff
Staff numbers
421
Garo Aktiebolag employees.
Industry
Electrical Components and Equipment
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/31 23:22
End of day share price update: 2020/03/31 00:00
Last estimates confirmation: 2020/02/25
Last earnings filing: 2020/02/18
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.