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Varta

DB:VAR1
Snowflake Description

Flawless balance sheet with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VAR1
DB
€3B
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

Varta AG, through its subsidiaries, researches, develops, produces, and sells microbatteries and energy storage solutions worldwide. The last earnings update was 153 days ago. More info.


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  • Varta has significant price volatility in the past 3 months.
VAR1 Share Price and Events
7 Day Returns
8.1%
DB:VAR1
9.2%
DE Electrical
9.9%
DE Market
1 Year Returns
62.4%
DB:VAR1
-8.2%
DE Electrical
-17.5%
DE Market
VAR1 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Varta (VAR1) 8.1% -2.1% -45.1% 62.4% - -
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
  • VAR1 outperformed the Electrical industry which returned -8.2% over the past year.
  • VAR1 outperformed the Market in Germany which returned -17.5% over the past year.
Price Volatility
VAR1
Industry
5yr Volatility vs Market

Value

 Is Varta 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 Varta 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 Varta.

DB:VAR1 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:VAR1
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- 30%) (0.83%))
1.084
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.08
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.084 * 5.44%)
5.51%

Discounted Cash Flow Calculation for DB:VAR1 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Varta 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:VAR1 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 5.51%)
2020 -125.80 Analyst x4 -119.24
2021 -29.25 Analyst x2 -26.28
2022 90.65 Analyst x2 77.19
2023 157.00 Analyst x1 126.71
2024 211.03 Est @ 34.41% 161.42
2025 261.61 Est @ 23.97% 189.68
2026 305.20 Est @ 16.66% 209.74
2027 340.44 Est @ 11.55% 221.75
2028 367.56 Est @ 7.97% 226.92
2029 387.63 Est @ 5.46% 226.82
Present value of next 10 years cash flows €1,294.00
DB:VAR1 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €387.63 × (1 + -0.39%) ÷ (5.51% – -0.39%)
€6,549.79
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €6,549.79 ÷ (1 + 5.51%)10
€3,832.59
DB:VAR1 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €1,294.00 + €3,832.59
€5,126.59
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €5,126.59 / 40.42
€126.83
DB:VAR1 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:VAR1 represents 1.01827x of XTRA:VAR1
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.01827x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 126.83 x 1.01827
€129.14
Value per share (EUR) From above. €129.14
Current discount Discount to share price of €66.90
= -1 x (€66.90 - €129.14) / €129.14
48.2%

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

Current Discount
Amount off the current price Varta is available for.
Intrinsic value
48%
Share price is €66.9 vs Future cash flow value of €129.14
Current Discount Checks
For Varta to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Varta's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Varta'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 Varta's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Varta's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:VAR1 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in EUR €0.83
XTRA:VAR1 Share Price ** XTRA (2020-03-31) in EUR €65.7
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 Varta.

DB:VAR1 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= XTRA:VAR1 Share Price ÷ EPS (both in EUR)

= 65.7 ÷ 0.83

79.58x

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

  • Varta is overvalued based on earnings compared to the DE Electrical industry average.
  • Varta is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Varta's expected growth come at a high price?
Raw Data
DB:VAR1 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 79.58x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
34.5%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:VAR1 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 79.58x ÷ 34.5%

2.31x

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

  • Varta is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Varta's assets?
Raw Data
DB:VAR1 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in EUR €9.41
XTRA:VAR1 Share Price * XTRA (2020-03-31) in EUR €65.7
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:VAR1 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= XTRA:VAR1 Share Price ÷ Book Value per Share (both in EUR)

= 65.7 ÷ 9.41

6.98x

* Primary Listing of Varta.

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

  • Varta is overvalued based on assets compared to the DE Electrical industry average.
X
Value checks
We assess Varta'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. Varta 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 Varta expected to perform in the next 1 to 3 years based on estimates from 6 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
34.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Varta expected to grow at an attractive rate?
  • Varta's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Varta's earnings growth is expected to exceed the Germany market average.
  • Varta's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:VAR1 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:VAR1 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 34.5%
DB:VAR1 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 21.4%
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:VAR1 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:VAR1 Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 1,413 3
2023-12-31 1,292 291 213 4
2022-12-31 1,167 229 173 4
2021-12-31 1,009 152 129 6
2020-12-31 831 103 87 6
2020-03-31
2019-12-31 347 83 53 3
DB:VAR1 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-09-30 321 105 38
2019-06-30 303 86 32
2019-03-31 286 81 27
2018-12-31 276 70 25
2018-09-30 264 21 15
2018-06-30 257 14 15
2018-03-31 251 17 17
2017-12-31 246 22 13
2017-09-30 239 37 18
2016-12-31 217 24 9

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Varta's earnings are expected to grow significantly at over 20% yearly.
  • Varta's revenue is expected to grow significantly at over 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:VAR1 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Varta Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:VAR1 Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31 5.06 5.06 5.06 1.00
2022-12-31 4.05 4.27 3.83 2.00
2021-12-31 3.11 3.50 2.72 5.00
2020-12-31 2.14 2.29 2.00 4.00
2020-03-31
2019-12-31 1.30 1.41 1.11 6.00
DB:VAR1 Past Financials Data
Date (Data in EUR Millions) EPS *
2019-09-30
2019-06-30 0.83
2019-03-31
2018-12-31 0.66
2018-09-30 0.43
2018-06-30 0.43
2018-03-31
2017-12-31 0.42
2017-09-30 0.58
2016-12-31 0.62

*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.
  • Varta is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Varta'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.
Varta has a total score of 5/6, 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 Varta 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 Varta'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.
  • Insufficient data to establish if Varta's year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Varta's 1-year earnings growth to the 5-year average due to insufficient past data.
  • Varta's earnings growth has exceeded the DE Electrical industry average in the past year (154.6% vs 17.2%).
Earnings and Revenue History
Varta'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 Varta Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:VAR1 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 320.80 38.48 107.69
2019-06-30 303.35 31.63 103.13
2019-03-31 285.64 27.27 100.14
2018-12-31 275.80 25.26 97.57
2018-09-30 264.05 15.12 98.82
2018-06-30 256.57 14.86 94.75
2018-03-31 251.00 16.59 92.92
2017-12-31 245.67 13.27 90.45
2017-09-30 239.13 18.46 87.07
2016-12-31 217.22 9.41 83.97

*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.
  • Varta has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Varta used its assets less efficiently than the DE Electrical industry average last year based on Return on Assets.
  • Unable to establish if Varta improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Varta'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.
Varta has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

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

Health

 How is Varta'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 Varta's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Varta is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Varta's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Varta'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.
  • Varta has no debt, it does not need to be covered by short term assets.
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 Varta Company Filings, last reported 6 months ago.

DB:VAR1 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 397.16 0.00 225.54
2019-06-30 382.04 0.00 243.35
2019-03-31 268.97 0.00 151.59
2018-12-31 259.42 0.00 149.74
2018-09-30 253.40 0.00 62.67
2018-06-30 246.26 0.00 72.43
2018-03-31 238.30 0.00 126.40
2017-12-31 230.45 0.00 138.54
2017-09-30 81.45 0.01 9.13
2016-12-31 65.29 0.00 12.35
  • Varta has no debt.
  • Varta currently has no debt however we can't compare to 5 years ago as we have no data for that period.
  • Varta has no debt, it does not need to be covered by operating cash flow.
  • Varta has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Varta'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. Varta has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

Dividends

 What is Varta'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
0%
Current annual income from Varta dividends. Estimated to be 1.15% next year.
If you bought €2,000 of Varta shares you are expected to receive €0 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?
  • Unable to evaluate Varta's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Varta's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:VAR1 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 6 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:VAR1 Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 1.10 1.00
2021-12-31 0.80 3.00
2020-12-31 0.53 2.00
2020-03-31
2019-12-31 0.36 3.00

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

  • Unable to perform a dividend volatility check as Varta has not reported any payouts.
  • Unable to verify if Varta's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Varta's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Varta has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.7x coverage).
X
Income/ dividend checks
We assess Varta'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 Varta afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Varta has a total score of 1/6, 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 Varta'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
Herbert Schein
AGE 54
TENURE AS CEO 3.4 years
CEO Bio

Mr. Herbert Schein has been the Chairman of the Management Board and Chief Executive Officer at Varta Microbattery GmbH since November 2008 and serves as a Member of Executive Board. Mr. Schein has been Chief Executive Officer of Varta AG since September 3, 2016 and has been its Member of Executive Board since July 2, 2016. He serves as Chairman of the Management Board of Varta AG. He served as Application and Quality Management for 4 years, International Product Management for Battery Packs, Product and Sales Management Europe for 3 years, Area Management America for 2 years, Business Unit Manager and Marketing Manager worldwide for 3 years, Member of the Executive Board and Chief Operating Officer for one year. He also served at VARTA Microbattery Forschungsgesellschaft mbH & Co. KG. Mr. Schein serves as a Member of Advisory Board at Varta Micro Innovation GmbH.

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

Herbert Schein

TITLE
CEO & Chairman of Management Board
AGE
54
TENURE
3.4 yrs

Steffen Munz

TITLE
CFO, Director of Investor Relations and M&A and Member of Management Board
AGE
41
TENURE
2 yrs

Bernhard Wolf

TITLE
Head of Investor Relations
Board of Directors Tenure

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

3.5
Average Tenure
61
Average Age
  • The tenure for the Varta board of directors is about average.
Board of Directors

Michael Tojner

TITLE
Chairman of Supervisory Board
COMPENSATION
€50K
AGE
53
TENURE
3.4 yrs

Harald Sommerer

TITLE
Deputy Chairman of the Supervisory Board
COMPENSATION
€50K
TENURE
3.7 yrs

Sven Quandt

TITLE
Member of Supervisory Board
AGE
63
TENURE
3.7 yrs

Georg Blumauer

TITLE
Member of Supervisory Board
COMPENSATION
€33K
TENURE
3.4 yrs

Michael Pistauer

TITLE
Supervisory Board Member
AGE
59
TENURE
0.8 yrs

Frank Maier

TITLE
Member of Supervisory Board
COMPENSATION
€30K
AGE
81
TENURE
3.7 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 Varta'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. Varta 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

Introducing Varta (FRA:VAR1), The Stock That Zoomed 201% In The Last Year

Varta hasn't been listed for long, so it's still not clear if it is a long term winner. … View our latest analysis for Varta To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.

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Did Varta AG (FRA:VAR1) Use Debt To Deliver Its ROE Of 10%?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Varta: 10% = €27m ÷ €269m (Based on the trailing twelve months to March 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Combining Varta's Debt And Its 10% Return On Equity One positive for shareholders is that Varta does not have any net debt! … A company that can achieve a high return on equity without debt could be considered a high quality business.

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Does Varta AG (FRA:VAR1) Have A High Beta?

If you're interested in Varta AG (FRA:VAR1), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one. … This suggests that including it in your portfolio will reduce volatility arising from broader market movements, assuming your portfolio's weighted average beta is higher than 0.80.

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All You Need To Know About Varta AG's (FRA:VAR1) Financial Health

Today we will look at VAR1’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … With this growth in debt, the current cash and short-term investment levels stands at €152m to keep the business going. … Additionally, VAR1 has produced cash from operations of €81m during the same period of time, resulting in an operating cash to total debt ratio of 370%, signalling that VAR1’s operating cash is sufficient to cover its debt.

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Does The Hype Around Varta AG's (FRA:VAR1) Growth Justify Its April Share Price?

Help shape the future of investing tools and you could win a $250 gift card! … Growth expectations for Varta AG (FRA:VAR1) are high, but many investors are starting to ask whether its last close at €39.5 can still be rationalized by the future potential. … Let’s take a look at some key metrics to determine whether there's any value here for current and potential future investors.

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What Should We Expect From Varta AG's (FRA:VAR1) Earnings In The Next Couple Of Years?

The most recent earnings announcement Varta AG's (FRA:VAR1) released in December 2018a … signalled

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Is Varta AG (FRA:VAR1) Better Than Average At Deploying Capital?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Understanding Return On Capital Employed (ROCE). … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

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How Many Varta AG (FRA:VAR1) Shares Do Institutions Own?

Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … We also tend to see lower insider ownership in companies that were previously publicly owned. … institutions own shares in the company.

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Is Varta AG's (FRA:VAR1) ROE Of 6.5% Concerning?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Another way to think of that is that for every €1 worth of equity in the company, it was able to earn €0.065. … Return on Equity = Net Profit ÷ Shareholders' Equity

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When Should You Buy Varta AG (FRA:VAR1)?

saw a significant share price rise of over 20% in the past couple of months on the DB. … Less-covered, small caps sees more of an opportunity for mispricing due to the lack of information available to the public, which can be a good thing? … So, could the stock still be trading at a low price relative to its actual value.

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Company Info

Description

Varta AG, through its subsidiaries, researches, develops, produces, and sells microbatteries and energy storage solutions worldwide. It operates through two segments, Microbatteries and Power & Energy. The Microbatteries segment offers zinc-air batteries for use in hearing aid devices; lithium-ion battery solutions for wireless headphones, and other wearable applications, as well as for electrical devices, including Bluetooth headsets and medical devices for high blood pressure, blood sugar, and body monitors; and rechargeable battery solutions for server applications, including car keys, alarm systems, or smart meters for industrial and original equipment manufacturers (OEMs). The Power & Energy segment is involved in the development, system integration, and assembly of rechargeable battery packs for portable industrial, communication, power tool, home and garden, and medical applications; and energy storage devices for private households and commercial applications. The company was founded in 1887 and is headquartered in Ellwangen, Germany. Varta AG is a subsidiary of Montana Tech Components AG.

Details
Name: Varta AG
VAR1
Exchange: DB
Founded: 1887
€2,655,704,770
40,421,686
Website: http://www.varta-ag.com
Address: Varta AG
Daimlerstrasse 1,
Ellwangen,
Baden-Württemberg, 73479,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA VAR1 Ordinary Shares XETRA Trading Platform DE EUR 02. Jan 1992
OTCPK VARG.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB VAR1 Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0GYQ Ordinary Shares London Stock Exchange GB EUR 02. Jan 1992
SWX VAR1 Ordinary Shares SIX Swiss Exchange CH CHF 02. Jan 1992
WBAG VAR1 Ordinary Shares Wiener Boerse AG AT EUR 02. Jan 1992
ETLX VAR1 Ordinary Shares Eurotlx IT EUR 02. Jan 1992
BATS-CHIXE VAR1D Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
Number of employees
Current staff
Staff numbers
2,613
Varta employees.
Industry
Electrical Components and Equipment
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/31 23:53
End of day share price update: 2020/03/31 00:00
Last estimates confirmation: 2020/03/31
Last earnings filing: 2019/10/30
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.