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Kendrion

DB:K3E
Snowflake Description

Flawless balance sheet and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
K3E
DB
€145M
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

Kendrion N.V. develops, manufactures, and markets electromagnetic systems and components for industrial and automotive applications in Germany, rest of Europe, the Americas, Asia, and internationally. The last earnings update was 42 days ago. More info.


Add to Portfolio Compare Print
  • Kendrion has significant price volatility in the past 3 months.
K3E Share Price and Events
7 Day Returns
0%
DB:K3E
9.2%
DE Electrical
9.9%
DE Market
1 Year Returns
-38.5%
DB:K3E
-8.2%
DE Electrical
-17.5%
DE Market
K3E Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kendrion (K3E) 0% -30.6% -39.1% -38.5% - -
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
  • K3E underperformed the Electrical industry which returned -8.2% over the past year.
  • K3E underperformed the Market in Germany which returned -17.5% over the past year.
Price Volatility
K3E
Industry
5yr Volatility vs Market
Related Companies

K3E Value

 Is Kendrion 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 Kendrion 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 Kendrion.

DB:K3E 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 6.6%
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:K3E
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- 25%) (37.76%))
1.292
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.29
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.292 * 5.44%)
6.64%

Discounted Cash Flow Calculation for DB:K3E using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Kendrion 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:K3E DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.64%)
2020 14.00 Analyst x1 13.13
2021 41.00 Analyst x1 36.06
2022 35.00 Analyst x1 28.86
2023 31.40 Est @ -10.29% 24.28
2024 29.10 Est @ -7.32% 21.10
2025 27.57 Est @ -5.24% 18.75
2026 26.53 Est @ -3.79% 16.92
2027 25.80 Est @ -2.77% 15.43
2028 25.27 Est @ -2.05% 14.17
2029 24.87 Est @ -1.55% 13.08
Present value of next 10 years cash flows €201.00
DB:K3E DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €24.87 × (1 + -0.39%) ÷ (6.64% – -0.39%)
€352.65
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €352.65 ÷ (1 + 6.64%)10
€185.49
DB:K3E Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €201.00 + €185.49
€386.49
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €386.49 / 14.75
€26.2
DB:K3E Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:K3E represents 1.26884x of ENXTAM:KENDR
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.26884x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 26.20 x 1.26884
€33.24
Value per share (EUR) From above. €33.24
Current discount Discount to share price of €12.46
= -1 x (€12.46 - €33.24) / €33.24
62.5%

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

Current Discount
Amount off the current price Kendrion is available for.
Intrinsic value
>50%
Share price is €12.46 vs Future cash flow value of €33.24
Current Discount Checks
For Kendrion to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Kendrion's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Kendrion'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 Kendrion's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kendrion's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:K3E PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €0.59
ENXTAM:KENDR Share Price ** ENXTAM (2020-03-16) in EUR €9.82
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 Kendrion.

DB:K3E PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTAM:KENDR Share Price ÷ EPS (both in EUR)

= 9.82 ÷ 0.59

16.74x

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

  • Kendrion is good value based on earnings compared to the DE Electrical industry average.
  • Kendrion is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Kendrion's expected growth come at a high price?
Raw Data
DB:K3E PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 16.74x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
40.5%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:K3E PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 16.74x ÷ 40.5%

0.41x

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

  • Kendrion is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Kendrion's assets?
Raw Data
DB:K3E PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €13.79
ENXTAM:KENDR Share Price * ENXTAM (2020-03-16) in EUR €9.82
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:K3E PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTAM:KENDR Share Price ÷ Book Value per Share (both in EUR)

= 9.82 ÷ 13.79

0.71x

* Primary Listing of Kendrion.

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

  • Kendrion is good value based on assets compared to the DE Electrical industry average.
X
Value checks
We assess Kendrion'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. Kendrion has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

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

K3E Future Performance

 How is Kendrion 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
40.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kendrion expected to grow at an attractive rate?
  • Kendrion's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Kendrion's earnings growth is expected to exceed the Germany market average.
  • Kendrion's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:K3E Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:K3E Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 40.5%
DB:K3E Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 0.4%
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:K3E 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 EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:K3E Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 415 1
2023-12-31 401 1
2022-12-31 436 40 16 2
2021-12-31 419 46 8 2
2020-12-31 406 19 0 2
2020-03-31
DB:K3E Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 412 41 8
2019-09-30 422 9
2019-06-30 426 26 11
2019-03-31 436 11
2018-12-31 449 37 14
2018-09-30 456 18
2018-06-30 466 48 19
2018-03-31 464 21
2017-12-31 462 42 20
2017-09-30 460 20
2017-06-30 454 49 20
2017-03-31 451 18

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Kendrion's earnings are expected to grow significantly at over 20% yearly.
  • Kendrion's revenue is expected to grow by 0.4% 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:K3E 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 Kendrion Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:K3E 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 1.30 1.51 1.08 2.00
2021-12-31 0.98 1.41 0.54 2.00
2020-12-31 0.44 0.87 0.01 2.00
2020-03-31
DB:K3E Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 0.59
2019-09-30 0.69
2019-06-30 0.82
2019-03-31 0.81
2018-12-31 1.03
2018-09-30 1.35
2018-06-30 1.41
2018-03-31 1.55
2017-12-31 1.45
2017-09-30 1.49
2017-06-30 1.48
2017-03-31 1.36

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Kendrion is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Kendrion'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.
Kendrion 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.

K3E Past Performance

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

DB:K3E Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 412.40 7.90 128.20
2019-09-30 422.00 9.10 124.80
2019-06-30 426.30 11.00 131.30
2019-03-31 436.30 10.80 131.70
2018-12-31 448.60 13.80 134.00
2018-09-30 456.20 18.20 142.10
2018-06-30 465.80 18.90 137.50
2018-03-31 464.10 20.80 140.00
2017-12-31 461.80 19.50 138.50
2017-09-30 460.30 20.00 138.60
2017-06-30 453.70 19.80 135.80
2017-03-31 450.50 18.30 137.20
2016-12-31 443.50 14.90 138.10
2016-09-30 440.10 13.40 142.20
2016-06-30 438.90 13.40 143.40
2016-03-31 439.10 14.30 140.10
2015-12-31 442.20 16.80 142.00
2015-09-30 443.80 19.90 139.50
2015-06-30 442.00 20.40 137.40
2015-03-31 438.30 20.30 135.90
2014-12-31 429.10 20.20 133.70
2014-09-30 416.90 22.00 131.10
2014-06-30 411.50 21.60 132.20
2014-03-31 387.80 19.10 126.70
2013-12-31 354.20 16.70 116.30
2013-09-30 321.00 13.50 104.70
2013-06-30 292.10 14.20 92.40

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

K3E Health

 How is Kendrion'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 Kendrion's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kendrion is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Kendrion's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Kendrion'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 2.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Kendrion Company Filings, last reported 3 months ago.

DB:K3E Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 203.50 40.00 7.10
2019-09-30 180.10 102.50 8.10
2019-06-30 179.40 104.80 8.60
2019-03-31 188.00 98.10 10.50
2018-12-31 182.10 77.00 10.20
2018-09-30 183.80 91.80 12.90
2018-06-30 179.70 92.60 13.90
2018-03-31 185.40 81.80 8.40
2017-12-31 179.60 62.10 7.60
2017-09-30 181.20 69.50 9.60
2017-06-30 179.70 75.90 13.70
2017-03-31 183.50 72.20 13.20
2016-12-31 178.10 66.30 12.40
2016-09-30 173.30 89.10 15.20
2016-06-30 169.10 90.80 12.10
2016-03-31 169.30 88.10 13.30
2015-12-31 169.90 79.10 10.20
2015-09-30 166.90 97.70 15.10
2015-06-30 163.00 102.20 13.40
2015-03-31 165.30 97.40 12.60
2014-12-31 153.20 91.90 9.60
2014-09-30 148.50 106.10 10.80
2014-06-30 139.80 113.60 14.90
2014-03-31 139.00 66.00 16.50
2013-12-31 134.10 65.60 18.00
2013-09-30 129.10 79.40 16.40
2013-06-30 125.70 80.10 14.00
  • Kendrion's level of debt (19.7%) 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 (60% vs 19.7% today).
  • Debt is well covered by operating cash flow (102.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.1x coverage).
X
Financial health checks
We assess Kendrion'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. Kendrion 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.

K3E Dividends

 What is Kendrion'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
2.55%
Current annual income from Kendrion dividends. Estimated to be 4.24% next year.
If you bought €2,000 of Kendrion shares you are expected to receive €51 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?
  • Kendrion's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.68%).
  • Kendrion's dividend is below the markets top 25% of dividend payers in Germany (4.97%).
Upcoming dividend payment

Purchase Kendrion 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:K3E 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:K3E Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 0.59 2.00
2021-12-31 0.45 2.00
2020-12-31 0.22 2.00
2020-03-31
DB:K3E Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2020-02-18 0.250 1.864
2019-02-19 0.870 4.505
2018-02-21 0.870 3.017
2017-02-22 0.780 2.191
2016-04-12 0.780 3.098
2015-02-26 0.780 3.286
2014-02-27 0.550 2.327
2013-02-27 0.580 2.719
2012-02-29 0.620 3.634
2011-02-28 0.590 3.373
2011-02-25 0.590 3.588
2010-11-09 0.000 0.000
2010-08-24 0.000 0.000
2010-05-11 0.000 0.000
2010-03-01 0.000 0.000
2010-02-25 0.000 0.000
2009-12-31 0.000 0.000

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

  • Kendrion has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Kendrion has only been paying a dividend for 9 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Kendrion's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.2x coverage).
X
Income/ dividend checks
We assess Kendrion'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 Kendrion afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Kendrion 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.

K3E Management

 What is the CEO of Kendrion'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
Joep van Beurden
COMPENSATION €854,700
AGE 59
TENURE AS CEO 4.3 years
CEO Bio

Mr. Jozef Aloysius Johannes van Beurden, also known as Joep, has been Chief Executive Officer and Member of Executive Board at Kendrion NV since December 1, 2015. Mr. van Beurden served as the Chief Executive Officer and Executive Director of CSR Plc from November 1, 2007 to August 2015. Mr. van Beurden served as Chief Executive of NexWave Inc. He served as Senior Vice President of Sales and Marketing of Canesta, Inc. He joined Canesta from Philips Components, where he served as Managing Director and Vice President of Business Unit Connectivity. He served as consultant of at McKinsey & Company in Amsterdam, the Netherlands for five years. He worked as a crude oil trader for Royal Dutch Shell in Rotterdam, as well as lecturer in Physics and Electronics at the University of Zambia in Lusaka. He has been a Non-Executive Director at Antenna Company International NV since November 4, 2015. He has been a Member of Supervisory Board at Adyen N.V. since January 20, 2017. He holds an Master's Degree in Applied Physics from Twente University of Technology in Enschede, the Netherlands.

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

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

4.3
Average Tenure
51
Average Age
  • The tenure for the Kendrion management team is about average.
Management Team

Joep van Beurden

TITLE
CEO & Member of Executive Board
COMPENSATION
€855K
AGE
59
TENURE
4.3 yrs

Jeroen Hemmen

TITLE
CFO & Member of Executive Board
COMPENSATION
€319K
AGE
46
TENURE
1.2 yrs

Yvonne Wiersma

TITLE
General Counsel

Ralf Wieland

TITLE
Managing Director of Kendrion (Villingen) GmbH

Bernd Gundelsweiler

TITLE
Chief Executive Officer of Division Automotive
AGE
51
TENURE
7.2 yrs

Telly Kuo

TITLE
President of Asia

Bente Vefald

TITLE
Executive Officer of Customer Services Vink as – Kolbotn Norway
Board of Directors Tenure

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

3.8
Average Tenure
58
Average Age
  • The tenure for the Kendrion board of directors is about average.
Board of Directors

Henk ten Hove

TITLE
Independent Chairman of the Supervisory Board
COMPENSATION
€50K
AGE
67
TENURE
6.3 yrs

Thomas Wünsche

TITLE
Independent Vice Chairman of Supervisory Board
COMPENSATION
€40K
AGE
55

Marion J. Mestrom

TITLE
Independent Member of Supervisory Board
COMPENSATION
€41K
AGE
58
TENURE
3.8 yrs

Jabine T. M. van Meijs

TITLE
Independent Member of Supervisory Board
COMPENSATION
€41K
AGE
53
TENURE
3.4 yrs

Volker Brunner

TITLE
Member of Business Development Board

Klaus-Dieter Holloh

TITLE
Member of Business Development Board
AGE
66

Detlev Kromrey

TITLE
Member of Business Development Board

Karl Gustafson

TITLE
Member of Business Development Board

Kuang-Hua Lin

TITLE
Member of Business Development Board

Reinhard Loof

TITLE
Member of Business Development Board
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 Kendrion'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. Kendrion 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.

K3E News

Simply Wall St News

K3E Company Info

Description

Kendrion N.V. develops, manufactures, and markets electromagnetic systems and components for industrial and automotive applications in Germany, rest of Europe, the Americas, Asia, and internationally. The company operates in two segments, Automotive and Industrial. The Industrial segment offers switching, linear, locking, holding, door, oscillating, elevator brake, rotary, and custom solenoids; and industrial control systems to optimize automatic processes with pneumatics, fluid, solenoid, and control technologies. This segment also provides electromechanical brakes and clutches that are used in access control systems, aircraft interiors, elevator systems, energy generation and distribution, industrial appliances, industrial safety systems, medical equipment, robotics and automation, and textile machinery. The Automotive segment offers electromagnetic actuators and mechatronic systems and components for use in fuel systems, engine management, active damping, sound design, and assistance systems of passenger cars; and electronic systems and components for use in the areas of commercial vehicles, such as bus and truck, as well as construction and agricultural machinery, municipal vehicles, and fire-protection technology and gensets. The company was formerly known as Schuttersveld N.V. and changed its name to Kendrion N.V. in 2001. Kendrion N.V. was founded in 1859 and is headquartered in Amsterdam, the Netherlands.

Details
Name: Kendrion N.V.
K3E
Exchange: DB
Founded: 1859
€144,879,694
14,753,533
Website: http://www.kendrion.com
Address: Kendrion N.V.
Herikerbergweg 213,
Amsterdam,
Noord-Holland, 1101 CN,
Netherlands
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTAM KENDR Ordinary Shares Euronext Amsterdam NL EUR 01. Jan 1990
OTCPK KNDR.F Ordinary Shares Pink Sheets LLC US USD 01. Jan 1990
DB K3E Ordinary Shares Deutsche Boerse AG DE EUR 01. Jan 1990
LSE 0G68 Ordinary Shares London Stock Exchange GB EUR 01. Jan 1990
BATS-CHIXE KENDRA Ordinary Shares BATS 'Chi-X Europe' GB EUR 01. Jan 1990
Number of employees
Current staff
Staff numbers
1,205
Kendrion employees.
Industry
Electrical Components and Equipment
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/31 22:57
End of day share price update: 2020/03/16 00:00
Last estimates confirmation: 2020/03/27
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.