Loading...

We've got a brand new version of Simply Wall St! Try it out

OHB

DB:OHB
Snowflake Description

Adequate balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
OHB
DB
€573M
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

OHB SE operates as an aerospace and technology company in Germany and internationally. The last earnings update was 60 days ago. More info.


Add to Portfolio Compare Print
OHB Share Price and Events
7 Day Returns
1.7%
DB:OHB
0.8%
Europe Aerospace & Defense
2.5%
DE Market
1 Year Returns
7.5%
DB:OHB
11.7%
Europe Aerospace & Defense
2.6%
DE Market
OHB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
OHB (OHB) 1.7% 2.5% 3.3% 7.5% 73.9% 71.8%
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
  • OHB underperformed the Aerospace & Defense industry which returned 11.7% over the past year.
  • OHB outperformed the Market in Germany which returned 2.6% over the past year.
Price Volatility
OHB
Industry
5yr Volatility vs Market

Value

 Is OHB 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 OHB 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 OHB.

DB:OHB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 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 0.2%

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:OHB
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%) (39.15%))
1.067
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.07
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.067 * 5.96%)
6.59%

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

The calculations below outline how an intrinsic value for OHB 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:OHB DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.59%)
2020 46.77 Analyst x3 43.88
2021 34.73 Analyst x3 30.57
2022 51.50 Analyst x1 42.53
2023 61.90 Analyst x1 47.95
2024 67.47 Est @ 9.01% 49.04
2025 71.77 Est @ 6.37% 48.94
2026 75.02 Est @ 4.53% 47.99
2027 77.45 Est @ 3.24% 46.49
2028 79.26 Est @ 2.34% 44.63
2029 80.61 Est @ 1.7% 42.58
Present value of next 10 years cash flows €444.00
DB:OHB DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €80.61 × (1 + 0.23%) ÷ (6.59% – 0.23%)
€1,270.01
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,270.01 ÷ (1 + 6.59%)10
€670.88
DB:OHB Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €444.00 + €670.88
€1,114.88
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,114.88 / 17.40
€64.07
DB:OHB Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:OHB represents 1.00304x of XTRA:OHB
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00304x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 64.07 x 1.00304
€64.27
Value per share (EUR) From above. €64.27
Current discount Discount to share price of €33.05
= -1 x (€33.05 - €64.27) / €64.27
48.6%

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

Current Discount
Amount off the current price OHB is available for.
Intrinsic value
49%
Share price is €33.05 vs Future cash flow value of €64.27
Current Discount Checks
For OHB to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • OHB's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • OHB'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 OHB's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are OHB's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:OHB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in EUR €1.47
XTRA:OHB Share Price ** XTRA (2019-10-11) in EUR €32.95
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 OHB.

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

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

= 32.95 ÷ 1.47

22.39x

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

  • OHB is overvalued based on earnings compared to the Europe Aerospace & Defense industry average.
  • OHB is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does OHB's expected growth come at a high price?
Raw Data
DB:OHB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 22.39x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
16.6%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:OHB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 22.39x ÷ 16.6%

1.35x

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

  • OHB is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on OHB's assets?
Raw Data
DB:OHB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in EUR €10.32
XTRA:OHB Share Price * XTRA (2019-10-11) in EUR €32.95
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:OHB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 32.95 ÷ 10.32

3.19x

* Primary Listing of OHB.

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

  • OHB is overvalued based on assets compared to the Europe Aerospace & Defense industry average.
X
Value checks
We assess OHB'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. OHB has a total score of 2/6, 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 OHB expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
16.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is OHB expected to grow at an attractive rate?
  • OHB's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • OHB's earnings growth is expected to exceed the Germany market average.
  • OHB's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:OHB Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:OHB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 16.6%
DB:OHB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 6.2%
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:OHB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:OHB Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,332 1
2022-12-31 1,251 1
2021-12-31 1,168 58 39 4
2020-12-31 1,106 71 32 4
2019-12-31 1,031 -37 28 4
2019-10-12
DB:OHB Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-06-30 1,021 -5 26
2019-03-31 998 59 26
2018-12-31 993 60 25
2018-09-30 948 33 24
2018-06-30 893 70 24
2018-03-31 879 15 25
2017-12-31 846 35 23
2017-09-30 764 74 25
2017-06-30 769 63 24
2017-03-31 732 93 23
2016-12-31 729 73 22
2016-09-30 707 -19 20

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • OHB's earnings are expected to grow by 16.6% yearly, however this is not considered high growth (20% yearly).
  • OHB's revenue is expected to grow by 6.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:OHB 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 4 Analyst Estimates (S&P Global) See Below

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

DB:OHB Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 2.13 2.37 1.91 4.00
2020-12-31 1.89 2.01 1.74 4.00
2019-12-31 1.65 1.73 1.59 4.00
2019-10-12
DB:OHB Past Financials Data
Date (Data in EUR Millions) EPS *
2019-06-30 1.47
2019-03-31 1.51
2018-12-31 1.44
2018-09-30 1.36
2018-06-30 1.38
2018-03-31 1.45
2017-12-31 1.34
2017-09-30 1.43
2017-06-30 1.36
2017-03-31 1.33
2016-12-31 1.28
2016-09-30 1.18

*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.
  • OHB is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess OHB'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.
OHB 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 OHB 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 OHB'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.
  • OHB's year on year earnings growth rate has been positive over the past 5 years.
  • OHB's 1-year earnings growth exceeds its 5-year average (6.4% vs 0.7%)
  • OHB's earnings growth has not exceeded the Europe Aerospace & Defense industry average in the past year (6.4% vs 16.4%).
Earnings and Revenue History
OHB'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 OHB Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:OHB 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 1,021.20 25.61 254.89
2019-03-31 998.08 26.36 247.79
2018-12-31 993.25 25.00 238.35
2018-09-30 947.96 23.69 219.89
2018-06-30 893.00 24.06 216.08
2018-03-31 878.69 25.21 220.32
2017-12-31 846.10 23.36 208.25
2017-09-30 763.69 24.90 195.43
2017-06-30 769.04 23.72 192.54
2017-03-31 732.07 23.05 188.28
2016-12-31 729.20 22.21 182.37
2016-09-30 706.96 20.46 176.91
2016-06-30 747.58 21.36 173.96
2016-03-31 750.57 21.18 171.47
2015-12-31 736.53 20.98 170.40
2015-09-30 714.62 18.21 174.31
2015-06-30 644.30 15.21 173.37
2015-03-31 682.87 24.01 175.44
2014-12-31 742.88 25.71 179.65
2014-09-30 776.49 29.58 180.76
2014-06-30 787.31 30.27 185.40
2014-03-31 755.54 22.11 187.04
2013-12-31 693.11 19.44 185.75
2013-09-30 676.07 17.11 184.96
2013-06-30 652.09 16.12 179.63
2013-03-31 649.19 13.87 175.22
2012-12-31 625.24 14.82 172.64

*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.
  • OHB has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • OHB used its assets less efficiently than the Europe Aerospace & Defense industry average last year based on Return on Assets.
  • OHB's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess OHB'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.
OHB has a total score of 2/6, 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 OHB'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 OHB's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • OHB is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • OHB's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of OHB'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 3.1x 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 OHB Company Filings, last reported 3 months ago.

DB:OHB Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 202.43 168.60 30.33
2019-03-31 204.26 123.88 60.39
2018-12-31 200.02 55.74 48.73
2018-09-30 199.45 158.65 66.19
2018-06-30 186.35 184.19 91.26
2018-03-31 187.90 138.67 50.67
2017-12-31 207.28 94.30 60.81
2017-09-30 199.68 144.94 45.59
2017-06-30 193.38 175.62 36.89
2017-03-31 192.50 133.26 56.51
2016-12-31 183.59 93.46 64.35
2016-09-30 183.74 198.16 61.82
2016-06-30 177.36 205.45 41.15
2016-03-31 178.58 177.23 43.10
2015-12-31 168.75 140.45 66.91
2015-09-30 159.72 126.82 36.38
2015-06-30 152.35 161.96 50.21
2015-03-31 152.19 134.12 55.37
2014-12-31 145.40 118.80 53.32
2014-09-30 149.95 136.96 69.92
2014-06-30 144.52 121.13 76.05
2014-03-31 139.97 83.74 56.91
2013-12-31 132.71 80.86 57.28
2013-09-30 125.96 75.53 67.15
2013-06-30 120.34 76.21 34.58
2013-03-31 123.05 74.04 91.50
2012-12-31 117.33 65.27 90.00
  • OHB's level of debt (83.3%) 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 (83.9% vs 83.3% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 22.7x coverage).
X
Financial health checks
We assess OHB'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. OHB has a total score of 4/6, 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 OHB'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
1.31%
Current annual income from OHB dividends. Estimated to be 1.61% next year.
If you bought €2,000 of OHB shares you are expected to receive €26 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?
  • OHB's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • OHB'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:OHB 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 4 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:OHB Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.59 4.00
2020-12-31 0.53 4.00
2019-12-31 0.47 4.00
2019-10-12
DB:OHB Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-05-24 0.430 1.329
2018-03-21 0.400 1.208
2017-05-16 0.400 1.117
2016-05-25 0.400 2.093
2015-05-21 0.370 1.952
2014-07-02 0.370 1.796
2013-03-14 0.370 2.034
2013-01-15 0.370 2.354
2012-03-13 0.350 2.503
2012-01-16 0.350 2.649
2011-03-16 0.300 2.541
2010-03-18 0.250 1.687
2010-03-01 0.250 1.487
2009-03-02 0.250 2.805

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 OHB's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.6x coverage).
X
Income/ dividend checks
We assess OHB'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 OHB afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. OHB 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.

Management

 What is the CEO of OHB'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
Marco Fuchs
COMPENSATION €1,025,000
AGE 57
TENURE AS CEO 19.8 years
CEO Bio

Mr. Marco R. Fuchs has served as a Chief Executive Officer and Member of Management Board since 2000 and served as Chairman of the Management Board at OHB SE. He is the Chief Executive Officer and Chairman of the Managing Board of OHB Technology A.G. (technology and space), positions he has held since 2000. He is a Managing Director at OHB Venture Capital GmbH. Mr. Fuchs has been a Member of the Board of Directors of ORBCOMM LLC since 2001 and ORBCOMM Inc. since February 2004. Mr. Fuchs was a Director of ORBCOMM Holdings LLC from 2001 to February 2004. From 1995 to 2000, he worked at OHB Orbital Hochtechnologie Bremen-System A.G., first as a Prokurist (authorized signatory) and then as Managing Director. Prior to that, he worked as a Lawyer from 1992 to 1994 for Jones, Day, Reavis & Pogue in New York, and from 1994 to 1995 in Frankfurt am Main.

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

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

7.1
Average Tenure
57
Average Age
  • The average tenure for the OHB management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Marco Fuchs

TITLE
CEO & Member of Management Board
COMPENSATION
€1M
AGE
57
TENURE
19.8 yrs

Christa Fuchs

TITLE
Supervisory Board Member & Founder
COMPENSATION
€30K
AGE
81

Kurt Melching

TITLE
CFO & Member of Management Board
COMPENSATION
€356K
AGE
57

Klaus Hofmann

TITLE
Chief Human Resources Officer & Member of the Management Board
COMPENSATION
€423K
AGE
59
TENURE
3.9 yrs

Lutz Bertling

TITLE
Head of Corp. & Business Development
COMPENSATION
€1M
AGE
57
TENURE
1.5 yrs

Hans Steininger

TITLE
Chief Executive Officer of MT Aerospace AG

Lanfranco Zucconi

TITLE
President of Telematic Soltutions S P A

Berry Smutny

TITLE
Chief Executive Officer of OHB System AG
AGE
56
TENURE
10.3 yrs

Jürgen Breitkopf

TITLE
Chief Executive Officer of Kayser-Threde Gmbh

Avigdor Blasberger

TITLE
MD of OHB-Electro Optics GmbH & Director of Space Systems - ELOP Electrooptics Industries Ltd
Board of Directors Tenure

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

1.5
Average Tenure
72.5
Average Age
  • The average tenure for the OHB board of directors is less than 3 years, this suggests a new board.
Board of Directors

Robert Wethmar

TITLE
Chairman of Supervisory Board
COMPENSATION
€25K
AGE
58
TENURE
1.5 yrs

Heinz Stoewer

TITLE
Deputy Chairman of the Supervisory Board
COMPENSATION
€20K
AGE
79

Christa Fuchs

TITLE
Supervisory Board Member & Founder
COMPENSATION
€30K
AGE
81
TENURE
17.8 yrs

Ingo Kramer

TITLE
Additional Member of the Supervisory Board
AGE
66
TENURE
1.3 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 OHB'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. OHB 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

OHB SE operates as an aerospace and technology company in Germany and internationally. It produces and distributes products and projects, as well as provides technology services primarily in the areas of space and aeronautic technology, telematics, and satellite services. The company operates through Space Systems and Aerospace + Industrial Products segments. The Space Systems segment focuses on developing and executing space projects. This segment primarily develops and manufactures low-orbiting and geostationary small satellites for navigation, research, communications, and earth and weather observation and reconnaissance, including scientific payloads; undertakes projects for the assembly and outfitting of the International Space Station; and prepares studies and models for exploring solar system, such as the moon, asteroids, and Mars. The Aerospace + Industrial Products segment is involved in fabricating aerospace space products; and other industrial activities. This segment provides mechatronic systems for antennas and telescopes; various radio telescope projects; and telematics systems that serve the logistics industry by offering transport management and consignment tracking facilities, as well as supplies aerospace structures for the aviation and space industry. OHB SE is headquartered in Bremen, Germany.

Details
Name: OHB SE
OHB
Exchange: DB
Founded:
€573,333,295
17,400,100
Website: http://www.ohb.de
Address: OHB SE
Manfred-Fuchs-Platz 2-4,
Bremen,
Bremen, 28359,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA OHB Ordinary Bearer Shares XETRA Trading Platform DE EUR 13. Mar 2001
OTCPK OHBT.F Ordinary Bearer Shares Pink Sheets LLC US USD 13. Mar 2001
DB OHB Ordinary Bearer Shares Deutsche Boerse AG DE EUR 13. Mar 2001
LSE 0FH7 Ordinary Bearer Shares London Stock Exchange GB EUR 13. Mar 2001
BATS-CHIXE OHBD Ordinary Bearer Shares BATS 'Chi-X Europe' GB EUR 13. Mar 2001
Number of employees
Current staff
Staff numbers
2,816
OHB employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/12 20:54
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/10/12
Last earnings filing: 2019/08/13
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.