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MTU Aero Engines

DB:MTX
Snowflake Description

Outstanding track record with excellent balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MTX
DB
€13B
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

MTU Aero Engines AG, together with its subsidiaries, designs, develops, manufactures, markets, and supports commercial and military engines modules, and components in Germany, other European countries, North America, Asia, and internationally. The last earnings update was 79 days ago. More info.


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MTX Share Price and Events
7 Day Returns
0.7%
DB:MTX
0.8%
Europe Aerospace & Defense
2.5%
DE Market
1 Year Returns
39.4%
DB:MTX
11.7%
Europe Aerospace & Defense
2.6%
DE Market
MTX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
MTU Aero Engines (MTX) 0.7% -0.9% 13.4% 39.4% 157.6% 285.1%
Europe Aerospace & Defense 0.8% -2.9% 0.9% 11.7% 67.1% 114.9%
DE Market 2.5% 0.2% 1% 2.6% 7.8% 23.7%
1 Year Return vs Industry and Market
  • MTX outperformed the Aerospace & Defense industry which returned 11.7% over the past year.
  • MTX outperformed the Market in Germany which returned 2.6% over the past year.
Price Volatility
MTX
Industry
5yr Volatility vs Market

MTX Value

 Is MTU Aero Engines 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 MTU Aero Engines 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 MTU Aero Engines.

DB:MTX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 20 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.9%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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:MTX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Aerospace & Defense Unlevered Beta Simply Wall St/ S&P Global 0.86
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.864 (1 + (1- 30%) (8.9%))
0.945
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.945 * 5.96%)
5.86%

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

The calculations below outline how an intrinsic value for MTU Aero Engines 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:MTX DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 5.86%)
2020 463.32 Analyst x13 437.68
2021 567.50 Analyst x11 506.42
2022 632.60 Analyst x5 533.26
2023 677.26 Est @ 7.06% 539.31
2024 711.19 Est @ 5.01% 534.98
2025 736.62 Est @ 3.58% 523.44
2026 755.56 Est @ 2.57% 507.18
2027 769.67 Est @ 1.87% 488.06
2028 780.26 Est @ 1.38% 467.39
2029 788.31 Est @ 1.03% 446.07
Present value of next 10 years cash flows €4,983.00
DB:MTX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €788.31 × (1 + 0.23%) ÷ (5.86% – 0.23%)
€14,030.58
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €14,030.58 ÷ (1 + 5.86%)10
€7,939.33
DB:MTX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €4,983.00 + €7,939.33
€12,922.33
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €12,922.33 / 51.76
€249.67
DB:MTX Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:MTX represents 0.99715x of XTRA:MTX
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99715x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 249.67 x 0.99715
€248.96
Value per share (EUR) From above. €248.96
Current discount Discount to share price of €244.70
= -1 x (€244.70 - €248.96) / €248.96
1.7%

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

Current Discount
Amount off the current price MTU Aero Engines is available for.
Intrinsic value
2%
Share price is €244.7 vs Future cash flow value of €248.96
Current Discount Checks
For MTU Aero Engines to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • MTU Aero Engines's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • MTU Aero Engines'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 MTU Aero Engines's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are MTU Aero Engines's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:MTX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in EUR €8.82
XTRA:MTX Share Price ** XTRA (2019-10-11) in EUR €245.4
Europe Aerospace & Defense Industry PE Ratio Median Figure of 36 Publicly-Listed Aerospace & Defense Companies 21.4x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

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

** Primary Listing of MTU Aero Engines.

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

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

= 245.4 ÷ 8.82

27.83x

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

  • MTU Aero Engines is overvalued based on earnings compared to the Europe Aerospace & Defense industry average.
  • MTU Aero Engines is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does MTU Aero Engines's expected growth come at a high price?
Raw Data
DB:MTX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 27.83x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts
9.5%per year
Europe Aerospace & Defense Industry PEG Ratio Median Figure of 26 Publicly-Listed Aerospace & Defense Companies 1.59x
Germany Market PEG Ratio Median Figure of 264 Publicly-Listed Companies 1.38x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 27.83x ÷ 9.5%

2.92x

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

  • MTU Aero Engines is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on MTU Aero Engines's assets?
Raw Data
DB:MTX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in EUR €40.86
XTRA:MTX Share Price * XTRA (2019-10-11) in EUR €245.4
Europe Aerospace & Defense Industry PB Ratio Median Figure of 49 Publicly-Listed Aerospace & Defense Companies 1.96x
Germany Market PB Ratio Median Figure of 597 Publicly-Listed Companies 1.74x
DB:MTX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 245.4 ÷ 40.86

6.01x

* Primary Listing of MTU Aero Engines.

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

  • MTU Aero Engines is overvalued based on assets compared to the Europe Aerospace & Defense industry average.
X
Value checks
We assess MTU Aero Engines'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 Aerospace & Defense 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 Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. MTU Aero Engines 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.

MTX Future Performance

 How is MTU Aero Engines expected to perform in the next 1 to 3 years based on estimates from 20 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
9.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is MTU Aero Engines expected to grow at an attractive rate?
  • MTU Aero Engines's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • MTU Aero Engines's earnings growth is positive but not above the Germany market average.
  • MTU Aero Engines's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:MTX Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:MTX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts 9.5%
DB:MTX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 20 Analysts 5.9%
Europe Aerospace & Defense Industry Earnings Growth Rate Market Cap Weighted Average 14.2%
Europe Aerospace & Defense Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
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
DB:MTX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:MTX Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 6,050 952 664 6
2022-12-31 5,700 941 671 10
2021-12-31 5,500 865 631 17
2020-12-31 5,162 779 565 20
2019-12-31 4,789 702 504 20
2019-10-12
DB:MTX Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-06-30 4,662 671 455
2019-03-31 4,682 468
2018-12-31 4,567 595 447
2018-09-30 3,510 624 389
2018-06-30 4,069 588 372
2018-03-31 3,652 357
2017-12-31 3,897 461 355
2017-09-30 5,077 397 367
2017-06-30 4,411 365 353
2017-03-31 4,896 363 326
2016-12-31 4,733 358 312
2016-09-30 4,580 297 308

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • MTU Aero Engines's earnings are expected to grow by 9.5% yearly, however this is not considered high growth (20% yearly).
  • MTU Aero Engines's revenue is expected to grow by 5.9% 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:MTX 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 20 Analyst Estimates (S&P Global) See Below

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

DB:MTX Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 13.59 14.66 12.52 2.00
2022-12-31 12.59 13.10 11.79 4.00
2021-12-31 11.95 13.60 10.61 11.00
2020-12-31 10.79 11.70 9.80 16.00
2019-12-31 9.64 10.30 8.87 15.00
2019-10-12
DB:MTX Past Financials Data
Date (Data in EUR Millions) EPS *
2019-06-30 8.82
2019-03-31 9.05
2018-12-31 8.67
2018-09-30 7.59
2018-06-30 7.23
2018-03-31 6.92
2017-12-31 6.90
2017-09-30 7.12
2017-06-30 6.87
2017-03-31 6.36
2016-12-31 6.09
2016-09-30 6.02

*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.
  • MTU Aero Engines is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess MTU Aero Engines'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.
MTU Aero Engines 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.

MTX Past Performance

  How has MTU Aero Engines 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 MTU Aero Engines's growth in the last year to its industry (Aerospace & Defense).
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.
  • MTU Aero Engines's year on year earnings growth rate has been positive over the past 5 years.
  • MTU Aero Engines's 1-year earnings growth exceeds its 5-year average (22.4% vs 19.6%)
  • MTU Aero Engines's earnings growth has exceeded the Europe Aerospace & Defense industry average in the past year (22.4% vs 16.4%).
Earnings and Revenue History
MTU Aero Engines'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 MTU Aero Engines Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MTX Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 4,661.50 455.40 222.20 62.70
2019-03-31 4,682.10 468.00 220.20 64.70
2018-12-31 4,567.10 447.00 214.20 60.70
2018-09-30 3,509.85 389.30 216.10 45.75
2018-06-30 4,069.00 372.20 205.10 56.90
2018-03-31 3,652.10 356.70 198.00 49.60
2017-12-31 3,897.40 355.10 193.10 51.70
2017-09-30 5,076.80 367.10 192.10 67.50
2017-06-30 4,410.50 352.70 175.90 53.80
2017-03-31 4,896.10 326.20 193.00 66.80
2016-12-31 4,732.70 312.20 176.30 71.10
2016-09-30 4,579.60 308.20 169.20 73.40
2016-06-30 4,532.50 272.00 180.50 80.70
2016-03-31 4,433.70 286.60 165.00 70.30
2015-12-31 4,435.30 217.60 174.00 66.50
2015-09-30 4,359.30 209.00 153.70 62.70
2015-06-30 4,300.10 215.60 151.20 60.40
2015-03-31 4,100.40 170.00 139.60 68.40
2014-12-31 3,913.90 195.60 141.30 74.50
2014-09-30 3,726.10 179.50 126.70 79.70
2014-06-30 3,615.00 177.30 141.60 82.70
2014-03-31 3,581.10 176.30 147.60 83.80
2013-12-31 3,574.10 166.30 142.60 90.80
2013-09-30 3,570.20 139.60 192.30 97.30
2013-06-30 3,594.50 133.40 183.20 100.60
2013-03-31 3,586.60 157.60 177.60 107.60
2012-12-31 3,378.60 174.80 180.40 107.60

*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.
  • MTU Aero Engines has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • MTU Aero Engines used its assets more efficiently than the Europe Aerospace & Defense industry average last year based on Return on Assets.
  • MTU Aero Engines has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess MTU Aero Engines'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 Aerospace & Defense 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.
MTU Aero Engines has a total score of 6/6, 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.

MTX Health

 How is MTU Aero Engines'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 MTU Aero Engines's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • MTU Aero Engines is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • MTU Aero Engines's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of MTU Aero Engines'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 3.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

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

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

All data from MTU Aero Engines Company Filings, last reported 3 months ago.

DB:MTX Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 2,194.30 991.40 196.30
2019-03-31 2,261.00 0.00 208.00
2018-12-31 2,144.20 1,055.80 128.50
2018-09-30 2,144.20 1,055.80 128.50
2018-06-30 1,889.80 1,072.20 109.60
2018-03-31 1,841.30 1,087.90 134.50
2017-12-31 1,841.30 1,076.40 134.50
2017-09-30 1,879.00 0.00 86.60
2017-06-30 1,763.20 1,072.90 98.30
2017-03-31 1,649.90 0.00 368.40
2016-12-31 1,500.50 1,466.40 362.50
2016-09-30 1,438.40 0.00 398.50
2016-06-30 1,347.30 1,420.20 425.60
2016-03-31 1,401.40 997.80 83.70
2015-12-31 1,300.60 1,175.00 103.80
2015-09-30 1,260.00 990.20 136.00
2015-06-30 1,211.70 1,021.90 131.60
2015-03-31 1,150.20 1,073.10 151.40
2014-12-31 1,188.30 1,021.20 136.90
2014-09-30 1,191.40 718.40 218.50
2014-06-30 1,207.00 654.50 193.10
2014-03-31 1,256.90 671.20 229.40
2013-12-31 1,251.00 659.20 228.50
2013-09-30 1,156.10 678.00 233.40
2013-06-30 1,067.60 721.60 218.90
2013-03-31 1,085.20 657.60 173.60
2012-12-31 1,094.10 615.40 186.20
  • MTU Aero Engines's level of debt (45.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (54.3% vs 45.2% today).
  • Debt is well covered by operating cash flow (67.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 519.5x coverage).
X
Financial health checks
We assess MTU Aero Engines'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. MTU Aero Engines has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

MTX Dividends

 What is MTU Aero Engines'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
1.16%
Current annual income from MTU Aero Engines dividends. Estimated to be 1.69% next year.
If you bought €2,000 of MTU Aero Engines shares you are expected to receive €23 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?
  • MTU Aero Engines's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • MTU Aero Engines's dividend is below the markets top 25% of dividend payers in Germany (3.86%).
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:MTX 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 20 Analyst Estimates (S&P Global) See Below
Europe Aerospace & Defense Industry Average Dividend Yield Market Cap Weighted Average of 30 Stocks 1.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

DB:MTX Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 5.78 2.00
2022-12-31 4.91 6.00
2021-12-31 4.73 18.00
2020-12-31 3.99 21.00
2019-12-31 3.41 21.00
2019-10-12
DB:MTX Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-26 2.850 1.329
2019-02-20 2.850 1.475
2018-02-28 2.300 1.380
2018-02-21 2.300 1.670
2017-04-21 1.900 1.420
2016-03-02 1.700 1.788
2015-04-16 1.450 1.733
2014-03-12 1.350 1.900
2013-03-13 1.350 1.915
2013-02-19 1.350 1.879
2012-02-23 1.200 1.913
2011-03-15 1.100 2.224
2010-03-10 0.930 2.046
2009-03-02 0.930 3.272

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 MTU Aero Engines's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.8x coverage).
X
Income/ dividend checks
We assess MTU Aero Engines'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 MTU Aero Engines afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. MTU Aero Engines has a total score of 4/6, see the detailed checks below.


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

MTX Management

 What is the CEO of MTU Aero Engines'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
Reiner Winkler
COMPENSATION €2,825,102
AGE 58
TENURE AS CEO 5.8 years
CEO Bio

Mr. Reiner Winkler has been the Chief Executive Officer MTU Aero Engines AG since January 1, 2014 and served as its Chief Financial Officer since May 2005. Mr. Winkler serves as Member of Advisory Council at Allianz Global Corporate & Specialty SE. Mr. Winkler has been the Chief Financial Officer and Member of the Management Board at MTU Aero Engines Holding AG since 2001 and in MTU Aero Engines GmbH since May 2005. He serves as Chief Executive Officer at MTU Aero Engines GmbH. He serves as a Member of Executive Board of MTU Aero Engines AG. He serves as Director of Labor Relations at MTU Aero Engines Holding AG. He served as Director of Labor Relations at MTU Aero Engines AG. He has the responsibility for finance, human resources and IT. Mr. Winkler serves as an Executive Vice President of Finance, Information Technology & Human Resources of MTU Aero Engines, a subsidiary of MTU Aero Engines Holding AG. Mr. Winkler served as Executive Vice President of Finance, Human Resources and Information Technology at MTU Aero Engines Holding AG from May 2005 to December,2013. He joined MTU in 2001 as an Executive Vice President of Finance and Human Resources. He served as Managing Director, Finance and Controlling at TEMIC Telefunken microelectronic GmbH. Mr. Winkler has also held management posts with Daimler-Benz AG and Siemens AG. Mr. Winkler has a degree in Business Administration.

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

Average tenure and age of the MTU Aero Engines management team in years:

3.8
Average Tenure
51.5
Average Age
  • The tenure for the MTU Aero Engines management team is about average.
Management Team

Reiner Winkler

TITLE
CEO & Member of the Executive Board
COMPENSATION
€3M
AGE
58
TENURE
5.8 yrs

Peter Kameritsch

TITLE
CFO, Chief Information Officer & Member of the Executive Board
COMPENSATION
€3M
AGE
50
TENURE
1.8 yrs

Michael Schreyögg

TITLE
Chief Program Officer & Member of the Executive Board
COMPENSATION
€1M
AGE
53
TENURE
6.3 yrs

Lars Wagner

TITLE
COO & Member of the Executive Board
COMPENSATION
€1M
AGE
44
TENURE
1.8 yrs

Michael Röger

TITLE
Vice President of Investor Relations

Eckhard Zanger

TITLE
Senior Vice President of Corporate Communications & Public Affairs

Chae Kyoo-Joo

TITLE
Chief of The MTU Aero Engines - Seoul
Board of Directors Tenure

Average tenure and age of the MTU Aero Engines board of directors in years:

6.4
Average Tenure
62.5
Average Age
  • The tenure for the MTU Aero Engines board of directors is about average.
Board of Directors

Klaus Eberhardt

TITLE
Chairman of the Supervisory Board
COMPENSATION
€227K
AGE
71
TENURE
11.8 yrs

Josef Mailer

TITLE
Deputy Chairman of the Supervisory Board
COMPENSATION
€122K
TENURE
4 yrs

Klaus Steffens

TITLE
Member of Supervisory Board
COMPENSATION
€65K
AGE
69

Jürgen Geißinger

TITLE
Member of Supervisory Board
COMPENSATION
€88K
AGE
60
TENURE
14 yrs

Thomas Dautl

TITLE
Member of Supervisory Board
COMPENSATION
€65K
TENURE
11.5 yrs

Joachim Rauhut

TITLE
Member of Supervisory Board
COMPENSATION
€104K
AGE
65
TENURE
10.4 yrs

Marion Weissenberger-Eibl

TITLE
Member of Supervisory Board
COMPENSATION
€65K
AGE
53
TENURE
6.4 yrs

Heike Madan

TITLE
Member of Supervisory Board
COMPENSATION
€84K
TENURE
3.5 yrs

Angelo Gross

TITLE
Member of Supervisory Board
COMPENSATION
€48K
TENURE
1.5 yrs

Christine Bortenlänger

TITLE
Member of Supervisory Board
COMPENSATION
€48K
AGE
53
TENURE
1.5 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 MTU Aero Engines'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. MTU Aero Engines 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.

MTX News

Simply Wall St News

MTX Company Info

Description

MTU Aero Engines AG, together with its subsidiaries, designs, develops, manufactures, markets, and supports commercial and military engines modules, and components in Germany, other European countries, North America, Asia, and internationally. It operates through two segments, Commercial and Military Engine Business; and Commercial Maintenance Business. The company develops, manufactures, assembles, and delivers commercial engines, including long haul airliners, short-and medium-haul aircraft, business jets, and helicopters, as well as commercial aircraft engines, such as wide body, narrow body, regional, and business jets; military engines, such as fighter jets, helicopters, and transporters; and industrial gas turbines. It also maintains, repairs, and overhauls military engines, aircraft engines, and industrial gas turbines, as well as provides engine modules and parts repair, and related services. In addition, the company offers customized solutions from its range of services under MTU Aero Solutions brand; designs, develops, manufactures, and markets various brush seals; and provides training programs for non-destructive testing. Further, it provides on-site, engine lease, fleet management, module and part repair, asset and material management, and customer support services; and technical support, logistic support, and facilities services, as well as accessories. The company was formerly known as MTU Aero Engines Holding AG and changed its name to MTU Aero Engines AG in May 2013. MTU Aero Engines AG was founded in 1913 and is headquartered in Munich, Germany.

Details
Name: MTU Aero Engines AG
MTX
Exchange: DB
Founded: 1913
€12,701,150,622
51,756,930
Website: http://www.mtu.de
Address: MTU Aero Engines AG
Dachauer Strasse 665,
Munich,
Bavaria, 80995,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA MTX Registered Shares XETRA Trading Platform DE EUR 06. Jun 2005
OTCPK MTUA.F Registered Shares Pink Sheets LLC US USD 06. Jun 2005
DB MTX Registered Shares Deutsche Boerse AG DE EUR 06. Jun 2005
LSE 0FC9 Registered Shares London Stock Exchange GB EUR 06. Jun 2005
SWX MTX Registered Shares SIX Swiss Exchange CH CHF 06. Jun 2005
WBAG MTX Registered Shares Wiener Boerse AG AT EUR 06. Jun 2005
BMV MTX N Registered Shares Bolsa Mexicana de Valores MX MXN 06. Jun 2005
BATS-CHIXE MTXD Registered Shares BATS 'Chi-X Europe' GB EUR 06. Jun 2005
OTCPK MTUA.Y UNSPONSORD ADR Pink Sheets LLC US USD 13. Oct 2008
BST MTX1 UNSPONSORD ADR Boerse-Stuttgart DE EUR 13. Oct 2008
Number of employees
Current staff
Staff numbers
10,206
MTU Aero Engines employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/12 21:00
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/10/11
Last earnings filing: 2019/07/25
Last earnings reported: 2019/06/30
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.