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VOW

DB:213
Snowflake Description

Exceptional growth potential and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
213
DB
NOK2B
Market Cap
  1. Home
  2. DE
  3. Commercial Services
Company description

VOW ASA, together with its subsidiaries, manufactures and supplies systems for processing and purifying waste water, food waste, solid waste, and bio sludge. The last earnings update was 34 days ago. More info.


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  • VOW has significant price volatility in the past 3 months.
213 Share Price and Events
7 Day Returns
24.1%
DB:213
5.4%
DE Commercial Services
9.9%
DE Market
1 Year Returns
83.2%
DB:213
-31.6%
DE Commercial Services
-17.5%
DE Market
213 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
VOW (213) 24.1% -28.3% -45.5% 83.2% 1583.2% 1056.5%
DE Commercial Services 5.4% -21.4% -33.5% -31.6% -33.3% -43.3%
DE Market 9.9% -16.6% -24.8% -17.5% -24.5% -28.1%
1 Year Return vs Industry and Market
  • 213 outperformed the Commercial Services industry which returned -31.6% over the past year.
  • 213 outperformed the Market in Germany which returned -17.5% over the past year.
Price Volatility
213
Industry
5yr Volatility vs Market

Value

 Is VOW 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 VOW 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 VOW.

DB:213 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 4%
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:213
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.61
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.607 (1 + (1- 23%) (10.55%))
0.77
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.8 * 5.44%)
3.96%

Discounted Cash Flow Calculation for DB:213 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for VOW 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:213 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (NOK, Millions) Source Present Value
Discounted (@ 3.96%)
2020 -25.00 Analyst x1 -24.05
2021 34.00 Analyst x2 31.46
2022 53.50 Analyst x2 47.61
2023 91.00 Analyst x1 77.90
2024 149.00 Analyst x1 122.69
2025 195.11 Est @ 30.94% 154.53
2026 237.14 Est @ 21.54% 180.67
2027 272.62 Est @ 14.96% 199.78
2028 300.86 Est @ 10.36% 212.07
2029 322.32 Est @ 7.13% 218.54
Present value of next 10 years cash flows NOK1,221.00
DB:213 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NOK322.32 × (1 + -0.39%) ÷ (3.96% – -0.39%)
NOK7,377.29
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NOK7,377.29 ÷ (1 + 3.96%)10
NOK5,002.08
DB:213 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NOK1,221.00 + NOK5,002.08
NOK6,223.08
Equity Value per Share
(NOK)
= Total value / Shares Outstanding
= NOK6,223.08 / 106.56
NOK58.4
DB:213 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:213 represents 0.08763x of OB:VOW
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.08763x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (NOK) x Listing Adjustment Factor
= NOK 58.40 x 0.08763
€5.12
Value per share (EUR) From above. €5.12
Current discount Discount to share price of €1.70
= -1 x (€1.70 - €5.12) / €5.12
66.8%

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

Current Discount
Amount off the current price VOW is available for.
Intrinsic value
>50%
Share price is €1.7 vs Future cash flow value of €5.12
Current Discount Checks
For VOW to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • VOW's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • VOW'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 VOW's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are VOW's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:213 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in NOK NOK-0.14
OB:VOW Share Price ** OB (2020-03-31) in NOK NOK19.4
Germany Commercial Services Industry PE Ratio Median Figure of 6 Publicly-Listed Commercial Services Companies 95.54x
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 VOW.

DB:213 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:VOW Share Price ÷ EPS (both in NOK)

= 19.4 ÷ -0.14

-141.6x

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

  • VOW is loss making, we can't compare its value to the DE Commercial Services industry average.
  • VOW is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does VOW's expected growth come at a high price?
Raw Data
DB:213 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -141.6x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
51.8%per year
Europe Commercial Services Industry PEG Ratio Median Figure of 50 Publicly-Listed Commercial Services Companies 1.06x
Germany Market PEG Ratio Median Figure of 255 Publicly-Listed Companies 1.18x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for VOW, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on VOW's assets?
Raw Data
DB:213 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in NOK NOK2.15
OB:VOW Share Price * OB (2020-03-31) in NOK NOK19.4
Germany Commercial Services Industry PB Ratio Median Figure of 9 Publicly-Listed Commercial Services Companies 2.48x
Germany Market PB Ratio Median Figure of 571 Publicly-Listed Companies 1.43x
DB:213 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:VOW Share Price ÷ Book Value per Share (both in NOK)

= 19.4 ÷ 2.15

9.03x

* Primary Listing of VOW.

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

  • VOW is overvalued based on assets compared to the DE Commercial Services industry average.
X
Value checks
We assess VOW'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 Commercial Services 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 Commercial Services industry average (and greater than 0)? (1 check)
  5. VOW 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 VOW 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
51.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is VOW expected to grow at an attractive rate?
  • VOW's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • VOW's earnings growth is expected to exceed the Germany market average.
  • VOW's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:213 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:213 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 51.8%
DB:213 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 25.9%
Germany Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 22%
Germany Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 2.9%
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:213 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 NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:213 Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 1,775 1
2023-12-31 1,379 135 2
2022-12-31 1,233 81 108 3
2021-12-31 843 48 73 4
2020-12-31 630 13 42 4
2020-03-31
DB:213 Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-12-31 381 0 -15
2019-09-30 373 2 7
2019-06-30 364 5 29
2019-03-31 347 18 28
2018-12-31 330 31 26
2018-09-30 303 36 23
2018-06-30 276 41 19
2018-03-31 262 26 16
2017-12-31 247 10 13
2017-09-30 221 6 3
2017-06-30 204 -2 1
2017-03-31 190 4 -2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • VOW's earnings are expected to grow significantly at over 20% yearly.
  • VOW'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:213 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 VOW Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:213 Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31 1.27 1.27 1.27 1.00
2022-12-31 1.01 1.06 0.98 3.00
2021-12-31 0.70 0.85 0.54 4.00
2020-12-31 0.40 0.58 0.12 3.00
2020-03-31
DB:213 Past Financials Data
Date (Data in NOK Millions) EPS *
2019-12-31 -0.14
2019-09-30 0.07
2019-06-30 0.30
2019-03-31 0.29
2018-12-31 0.28
2018-09-30 0.24
2018-06-30 0.20
2018-03-31 0.17
2017-12-31 0.13
2017-09-30 0.03
2017-06-30 0.01
2017-03-31 -0.02

*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.
  • VOW is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess VOW'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.
VOW has a total score of 6/6, 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 VOW 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 VOW's growth in the last year to its industry (Commercial Services).
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.
  • VOW does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare VOW's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare VOW's 1-year growth to the Europe Commercial Services industry average as it is not currently profitable.
Earnings and Revenue History
VOW'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 VOW Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:213 Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 380.80 -14.60 47.80
2019-09-30 372.60 7.30 45.65
2019-06-30 364.40 29.20 43.50
2019-03-31 347.00 27.75 43.05
2018-12-31 329.60 26.30 42.60
2018-09-30 302.95 22.70 40.35
2018-06-30 276.30 19.10 38.10
2018-03-31 261.65 15.85 35.90
2017-12-31 247.00 12.60 33.70
2017-09-30 220.50 3.25 36.10
2017-06-30 204.00 1.10 32.40
2017-03-31 190.40 -1.85 32.65
2016-12-31 171.60 -4.80 33.50
2016-09-30 187.59 2.15 33.67
2016-06-30 189.20 -1.30 30.40
2016-03-31 194.49 0.15 33.87
2015-12-31 200.30 4.40 28.90
2015-09-30 189.09 -6.90 31.88
2015-06-30 174.82 -2.80 30.82
2015-03-31 156.35 -7.17 29.12
2014-12-31 145.63 -9.28 27.53
2014-09-30 152.02 5.43 25.79
2014-06-30 162.10 4.98 23.04
2014-03-31 166.13 7.49 21.87
2013-12-31 169.97 5.15 20.91

*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.
  • It is difficult to establish if VOW has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if VOW has efficiently used its assets last year compared to the DE Commercial Services industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if VOW improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess VOW'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 Commercial Services 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.
VOW has a total score of 0/6, see the detailed checks below.

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

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

Health

 How is VOW'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 VOW's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • VOW is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • VOW's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of VOW'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

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

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

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

DB:213 Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 229.90 196.60 85.50
2019-09-30 229.90 196.60 85.50
2019-06-30 99.70 25.30 9.70
2019-03-31 99.70 25.30 9.70
2018-12-31 93.30 3.00 7.00
2018-09-30 93.30 3.00 7.00
2018-06-30 77.20 2.90 6.90
2018-03-31 77.20 2.90 6.90
2017-12-31 57.90 21.90 5.60
2017-09-30 57.90 21.90 5.60
2017-06-30 51.20 32.90 2.80
2017-03-31 51.20 32.90 2.80
2016-12-31 45.40 25.20 3.60
2016-09-30 50.30 28.00 3.00
2016-06-30 50.20 25.50 2.00
2016-03-31 50.20 28.50 4.40
2015-12-31 49.80 28.00 19.50
2015-09-30 49.01 24.03 5.42
2015-06-30 50.88 27.75 4.28
2015-03-31 49.83 18.91 3.65
2014-12-31 45.11 27.67 3.82
2014-09-30 55.07 29.08 14.10
2014-06-30 52.91 37.83 36.24
2014-03-31 -19.23 49.12 1.71
2013-12-31 -21.36 49.28 1.18
  • VOW's level of debt (85.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (61.1% vs 85.5% today).
  • Debt is not well covered by operating cash flow (0%, less than 20% of total debt).
  • VOW is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess VOW'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. VOW has a total score of 2/6, 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 VOW'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 VOW dividends. Estimated to be 0.49% next year.
If you bought €2,000 of VOW 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 VOW's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate VOW'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:213 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
Germany Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.9%
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:213 Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31 0.29 1.00
2022-12-31 0.13 2.00
2021-12-31 0.10 3.00
2020-12-31 0.00 3.00
2020-03-31
DB:213 Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2020-02-26 0.000 0.000
2019-05-21 0.100 0.517

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

  • Unable to perform a dividend volatility check as VOW has not reported any payouts.
  • Unable to verify if VOW's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of VOW's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as VOW has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of VOW's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess VOW'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 VOW afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. VOW has a total score of 0/6, 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 VOW'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
Henrik Badin
COMPENSATION NOK2,181,400
AGE 49
TENURE AS CEO 12.2 years
CEO Bio

Mr. Henrik Badin has been the Chief Executive Officer of Scanship Holding ASA since 2008.

CEO Compensation
  • Henrik's compensation has increased whilst company is loss making.
  • Henrik's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure of the VOW management team in years:

3.2
Average Tenure
  • The tenure for the VOW management team is about average.
Management Team

Henrik Badin

TITLE
Chief Executive Officer
COMPENSATION
NOK2M
AGE
49
TENURE
12.2 yrs

Erik Magelssen

TITLE
Chief Financial Officer
COMPENSATION
NOK2M
TENURE
3 yrs

Jonny Hansen

TITLE
Chief Operating Officer
COMPENSATION
NOK1M
TENURE
1.8 yrs

Henning Mohn

TITLE
Chief Technical Officer
COMPENSATION
NOK1M
TENURE
3.4 yrs

Asgeir Wien

TITLE
Chief Development Officer
COMPENSATION
NOK2M
AGE
53
TENURE
3.4 yrs

Bjørn Bache

TITLE
Chief Commercial Officer
COMPENSATION
NOK989K
TENURE
1.8 yrs

Erling Hoftun

TITLE
Vice President of Sales & Project Development
Board of Directors Tenure

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

2.3
Average Tenure
55
Average Age
  • The average tenure for the VOW board of directors is less than 3 years, this suggests a new board.
Board of Directors

Narve Reiten

TITLE
Chairman
COMPENSATION
NOK300K
AGE
58

Bard Ingero

TITLE
Director
COMPENSATION
NOK200K
TENURE
2.3 yrs

Susanne L. Schneider

TITLE
Director
COMPENSATION
NOK200K
AGE
53
TENURE
6.2 yrs

Benedicte Agerup

TITLE
Director
COMPENSATION
NOK200K
AGE
55
TENURE
2.3 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 (€)
07. Nov 19 Sell Reiten & Co Company 07. Nov 19 07. Nov 19 -5,328,178 €1.69 €-8,992,019
28. Aug 19 Buy Henrik Badin Individual 28. Aug 19 28. Aug 19 2,300 €1.91 €4,388
01. Jul 19 Buy Henrik Badin Individual 01. Jul 19 01. Jul 19 300 €1.74 €523
X
Management checks
We assess VOW'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. VOW 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

VOW ASA, together with its subsidiaries, manufactures and supplies systems for processing and purifying waste water, food waste, solid waste, and bio sludge. It operates through Projects and After Sales segments. The company offers advanced wastewater purification systems to treat various types of maritime wastewater; incinerator systems for burning sludge from food waste and waste water; vacuum systems for collecting, transporting, and further processing of food waste; and waste recycling systems. It also provides waste destruction systems; custom water treatment systems; and bio-sludge system, a treatment system for sludge from waste water and food waste, and to reduce volume by dewatering and drying, as well as to disinfect. In addition, the company offers water reuse units that are used to polish and prolong the use of recreational waters; and solutions for garbage handling, waste to energy, and scrubber wash water. Further, it provides chemical products used in the wastewater purification systems; and spare parts and consumables, as well as service and operational assistance related to these products. The company sells its products to cruise liners. The company was formerly known as Scanship Holding ASA and changed its name to VOW ASA in January 2020. VOW ASA was founded in 2011 and is headquartered in Lysaker, Norway.

Details
Name: VOW ASA
213
Exchange: DB
Founded: 2011
NOK177,590,054
106,563,566
Website: http://www.vowasa.com
Address: VOW ASA
Lysaker Torg 12,
Lysaker,
Akershus, 1366,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB VOW Ordinary Shares Oslo Bors NO NOK 11. Apr 2014
OTCPK SSHP.F Ordinary Shares Pink Sheets LLC US USD 11. Apr 2014
DB 213 Ordinary Shares Deutsche Boerse AG DE EUR 11. Apr 2014
LSE 0QTW Ordinary Shares London Stock Exchange GB NOK 11. Apr 2014
Number of employees
Current staff
Staff numbers
59
VOW employees.
Industry
Environmental and Facilities Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/31 23:13
End of day share price update: 2020/03/31 00:00
Last estimates confirmation: 2020/03/22
Last earnings filing: 2020/02/26
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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

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