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Bang & Olufsen

DB:BUOB
Snowflake Description

Adequate balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BUOB
DB
DKK1B
Market Cap
  1. Home
  2. DE
  3. Consumer Durables
Company description

Bang & Olufsen a/s designs, develops, and markets audio and video products. The last earnings update was 47 days ago. More info.


Add to Portfolio Compare Print
  • Bang & Olufsen has significant price volatility in the past 3 months.
BUOB Share Price and Events
7 Day Returns
-2%
DB:BUOB
0.5%
DE Consumer Durables
-0.3%
DE Market
1 Year Returns
-72.1%
DB:BUOB
4%
DE Consumer Durables
10.4%
DE Market
BUOB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Bang & Olufsen (BUOB) -2% 1.8% -11.3% -72.1% -54.8% -18.3%
DE Consumer Durables 0.5% 5.1% 4.1% 4% -3% 13.6%
DE Market -0.3% 4.2% 12.4% 10.4% 13.9% 17.1%
1 Year Return vs Industry and Market
  • BUOB underperformed the Consumer Durables industry which returned 4% over the past year.
  • BUOB underperformed the Market in Germany which returned 10.4% over the past year.
Price Volatility
BUOB
Industry
5yr Volatility vs Market
Related Companies

BUOB Value

 Is Bang & Olufsen 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 Bang & Olufsen 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 Bang & Olufsen.

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

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

Calculation of Discount Rate/ Cost of Equity for DB:BUOB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Consumer Durables Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.812 (1 + (1- 22%) (17.75%))
0.949
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.95
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.949 * 5.96%)
5.89%

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

The calculations below outline how an intrinsic value for Bang & Olufsen 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:BUOB DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (DKK, Millions) Source Present Value
Discounted (@ 5.89%)
2020 160.50 Analyst x2 151.58
2021 225.00 Analyst x2 200.68
2022 245.50 Analyst x2 206.80
2023 206.00 Analyst x1 163.88
2024 182.91 Est @ -11.21% 137.43
2025 168.69 Est @ -7.78% 119.70
2026 159.62 Est @ -5.37% 106.97
2027 153.73 Est @ -3.69% 97.29
2028 149.86 Est @ -2.52% 89.57
2029 147.32 Est @ -1.69% 83.16
Present value of next 10 years cash flows DKK1,357.00
DB:BUOB DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= DKK147.32 × (1 + 0.23%) ÷ (5.89% – 0.23%)
DKK2,610.09
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= DKK2,610.09 ÷ (1 + 5.89%)10
DKK1,473.36
DB:BUOB Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= DKK1,357.00 + DKK1,473.36
DKK2,830.36
Equity Value per Share
(DKK)
= Total value / Shares Outstanding
= DKK2,830.36 / 40.83
DKK69.31
DB:BUOB Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:BUOB represents 0.13263x of CPSE:BO
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.13263x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (DKK) x Listing Adjustment Factor
= DKK 69.31 x 0.13263
€9.19
Value per share (EUR) From above. €9.19
Current discount Discount to share price of €4.78
= -1 x (€4.78 - €9.19) / €9.19
48%

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

Current Discount
Amount off the current price Bang & Olufsen is available for.
Intrinsic value
48%
Share price is €4.78 vs Future cash flow value of €9.19
Current Discount Checks
For Bang & Olufsen to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Bang & Olufsen's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Bang & Olufsen'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 Bang & Olufsen's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Bang & Olufsen's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:BUOB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-08-31) in DKK DKK-2.02
CPSE:BO Share Price ** CPSE (2019-11-19) in DKK DKK36.04
Germany Consumer Durables Industry PE Ratio Median Figure of 8 Publicly-Listed Consumer Durables Companies 16.53x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 19.74x

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

** Primary Listing of Bang & Olufsen.

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

= CPSE:BO Share Price ÷ EPS (both in DKK)

= 36.04 ÷ -2.02

-17.81x

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

  • Bang & Olufsen is loss making, we can't compare its value to the DE Consumer Durables industry average.
  • Bang & Olufsen is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Bang & Olufsen's expected growth come at a high price?
Raw Data
DB:BUOB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -17.81x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
78.1%per year
Germany Consumer Durables Industry PEG Ratio Median Figure of 5 Publicly-Listed Consumer Durables Companies 1x
Germany Market PEG Ratio Median Figure of 258 Publicly-Listed Companies 1.36x

*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 Bang & Olufsen, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Bang & Olufsen's assets?
Raw Data
DB:BUOB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-08-31) in DKK DKK32.50
CPSE:BO Share Price * CPSE (2019-11-19) in DKK DKK36.04
Germany Consumer Durables Industry PB Ratio Median Figure of 12 Publicly-Listed Consumer Durables Companies 1.69x
Germany Market PB Ratio Median Figure of 578 Publicly-Listed Companies 1.88x
DB:BUOB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= CPSE:BO Share Price ÷ Book Value per Share (both in DKK)

= 36.04 ÷ 32.50

1.11x

* Primary Listing of Bang & Olufsen.

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

  • Bang & Olufsen is good value based on assets compared to the DE Consumer Durables industry average.
X
Value checks
We assess Bang & Olufsen'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 Consumer Durables 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 Consumer Durables industry average (and greater than 0)? (1 check)
  5. Bang & Olufsen has a total score of 3/6, 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.

BUOB Future Performance

 How is Bang & Olufsen expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

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

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
78.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Bang & Olufsen expected to grow at an attractive rate?
  • Bang & Olufsen's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Bang & Olufsen's earnings growth is expected to exceed the Germany market average.
  • Bang & Olufsen's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:BUOB Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:BUOB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 78.1%
DB:BUOB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 9.9%
Germany Consumer Durables Industry Earnings Growth Rate Market Cap Weighted Average 14%
Germany Consumer Durables Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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:BUOB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in DKK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:BUOB Future Estimates Data
Date (Data in DKK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-05-31 3,970 1
2022-05-31 3,474 355 183 2
2021-05-31 3,196 361 135 2
2020-05-31 2,935 252 47 2
2019-11-19
DB:BUOB Past Financials Data
Date (Data in DKK Millions) Revenue Cash Flow Net Income *
2019-08-31 2,656 -228 -83
2019-05-31 2,838 -131 19
2019-02-28 3,049 81 132
2018-11-30 3,204 123 143
2018-08-31 3,294 237 132
2018-05-31 3,285 248 81
2018-02-28 3,241 166 -48
2017-11-30 3,162 252 -70
2017-08-31 3,030 281 -105
2017-05-31 2,954 352 -117
2017-02-28 2,865 251 -116
2016-11-30 2,781 79 -130

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Bang & Olufsen's earnings are expected to grow significantly at over 20% yearly.
  • Bang & Olufsen's revenue is expected to grow by 9.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:BUOB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Bang & Olufsen Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BUOB Future Estimates Data
Date (Data in DKK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-05-31
2022-05-31 4.86 5.57 4.16 2.00
2021-05-31 3.39 3.89 2.89 2.00
2020-05-31 1.13 1.38 0.89 2.00
2019-11-19
DB:BUOB Past Financials Data
Date (Data in DKK Millions) EPS *
2019-08-31 -2.02
2019-05-31 0.47
2019-02-28 3.05
2018-11-30 3.40
2018-08-31 3.09
2018-05-31 1.88
2018-02-28 -1.22
2017-11-30 -1.63
2017-08-31 -2.46
2017-05-31 -2.70
2017-02-28 -2.56
2016-11-30 -3.01

*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.
  • Bang & Olufsen is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Bang & Olufsen'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.
Bang & Olufsen has a total score of 4/6, 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.

BUOB Past Performance

  How has Bang & Olufsen 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 Bang & Olufsen's growth in the last year to its industry (Consumer Durables).
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.
  • Bang & Olufsen does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Bang & Olufsen's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Bang & Olufsen's 1-year growth to the DE Consumer Durables industry average as it is not currently profitable.
Earnings and Revenue History
Bang & Olufsen'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 Bang & Olufsen Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BUOB Past Revenue, Cash Flow and Net Income Data
Date (Data in DKK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-08-31 2,656.00 -83.00 995.00 320.00
2019-05-31 2,838.00 19.00 1,011.00 321.00
2019-02-28 3,048.90 132.40 991.90 310.00
2018-11-30 3,203.90 143.20 1,020.10 337.90
2018-08-31 3,294.10 131.70 951.80 375.30
2018-05-31 3,285.00 81.00 919.00 409.00
2018-02-28 3,241.30 -47.70 878.30 444.80
2017-11-30 3,162.40 -70.40 821.90 443.00
2017-08-31 3,030.40 -104.70 824.40 424.30
2017-05-31 2,954.00 -116.50 822.90 385.90
2017-02-28 2,864.90 -116.20 869.40 373.00
2016-11-30 2,781.40 -130.00 838.60 344.40
2016-08-31 2,642.90 -172.10 843.60 318.60
2016-05-31 2,633.40 -197.80 844.60 314.80
2016-02-29 2,632.30 -441.20 900.30 368.00
2015-11-30 2,579.20 -459.50 924.90 387.70
2015-08-31 2,429.00 -557.90 913.80 400.70
2015-05-31 2,356.50 -607.30 938.80 417.80
2015-02-28 1,760.20 -439.20 807.30 268.90
2014-11-30 1,785.20 -442.10 818.50 271.40
2014-08-31 2,028.80 -316.40 815.50 284.10
2014-05-31 2,161.70 -227.60 797.70 292.80
2014-02-28 2,802.80 -113.30 840.90 388.90
2013-11-30 2,782.90 -172.10 846.40 410.50
2013-08-31 2,779.90 -164.50 840.00 427.90
2013-05-31 2,813.90 -158.90 840.60 442.40
2013-02-28 2,941.40 -68.00 830.70 418.90
2012-11-30 3,053.00 39.70 791.40 385.90

*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 Bang & Olufsen has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Bang & Olufsen has efficiently used its assets last year compared to the DE Consumer Durables industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Bang & Olufsen 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 Bang & Olufsen'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 Consumer Durables 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.
Bang & Olufsen 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.

BUOB Health

 How is Bang & Olufsen'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 Bang & Olufsen's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Bang & Olufsen is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Bang & Olufsen's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Bang & Olufsen'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 19.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

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

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

All data from Bang & Olufsen Company Filings, last reported 2 months ago.

DB:BUOB Past Debt and Equity Data
Date (Data in DKK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-08-31 1,325.00 71.00 275.00
2019-05-31 1,419.00 72.00 492.00
2019-02-28 1,508.00 92.00 609.00
2018-11-30 1,623.30 163.90 800.10
2018-08-31 1,698.40 166.20 1,028.30
2018-05-31 1,709.00 170.00 1,155.00
2018-02-28 1,622.70 172.30 992.30
2017-11-30 1,585.40 174.60 960.10
2017-08-31 1,520.20 177.00 918.40
2017-05-31 1,586.10 179.30 1,079.20
2017-02-28 1,690.00 181.60 971.20
2016-11-30 1,686.20 183.70 876.30
2016-08-31 1,654.90 185.80 750.70
2016-05-31 1,724.90 189.60 788.50
2016-02-29 1,829.80 191.80 810.20
2015-11-30 1,836.20 193.80 877.10
2015-08-31 1,834.20 195.90 816.30
2015-05-31 1,921.40 409.50 1,198.00
2015-02-28 1,706.40 515.20 138.60
2014-11-30 1,680.80 577.40 172.60
2014-08-31 1,752.00 469.90 107.70
2014-05-31 1,604.40 494.50 120.40
2014-02-28 1,549.70 469.50 169.10
2013-11-30 1,584.90 570.50 176.00
2013-08-31 1,582.60 471.40 128.40
2013-05-31 1,640.10 419.10 145.90
2013-02-28 1,683.90 439.80 108.80
2012-11-30 1,771.60 523.70 101.80
  • Bang & Olufsen's level of debt (5.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (26.9% vs 5.4% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Information is not available.
  • Unable to confirm if Bang & Olufsen has at least 1 year of cash runway based on growing free cash flows without relevant data.
X
Financial health checks
We assess Bang & Olufsen'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. Bang & Olufsen 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.

BUOB Dividends

 What is Bang & Olufsen'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 Bang & Olufsen dividends. Estimated to be 3.13% next year.
If you bought €2,000 of Bang & Olufsen 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 Bang & Olufsen's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Bang & Olufsen'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:BUOB Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Germany Consumer Durables Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 335 Stocks 2.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.3%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

DB:BUOB Future Dividends Estimate Data
Date (Data in DKK) Dividend per Share (annual) Avg. No. Analysts
2023-05-31
2022-05-31 2.02 1.00
2021-05-31 1.36 1.00
2020-05-31 0.00 1.00
2019-11-19
DB:BUOB Past Annualized Dividends Data
Date (Data in DKK) Dividend per share (annual) Avg. Yield (%)
2010-04-14 0.000 0.000
2010-01-25 0.000 0.000
2009-10-08 0.000 0.000
2009-09-04 0.000 0.000

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

  • Unable to perform a dividend volatility check as Bang & Olufsen has not reported any payouts.
  • Unable to verify if Bang & Olufsen's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Bang & Olufsen's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Bang & Olufsen has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess Bang & Olufsen's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - 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 Bang & Olufsen afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Bang & Olufsen 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.

BUOB Management

 What is the CEO of Bang & Olufsen'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
Kristian Tear
AGE 56
TENURE AS CEO 0.1 years
CEO Bio

Mr. Kristian Tear is the Chief Executive Officer, President and Member of the Executive Board at Bang & Olufsen a/s since October 8, 2019. He served as Chief Operating Officer of BlackBerry Limited (RIM) from May 8, 2012 to November 25, 2013. Mr. Tear oversaw all operational functions for handhelds and services, including research and development, products, global sales, manufacturing and supply chain. He has more than 25 years of international sales and marketing experience in the telecoms sector, including posts in South America, Europe and Asia. He joined RIM from Sony Mobile Communications. He served as Executive Vice President of Sales & Marketing at Sony Mobile Communications AB, a subsidiary of Sony Corporation since 2010. He served as the Head of Global Sales and Marketing and Executive Vice President at Sony Ericsson Mobile Communications AB since April 1, 2010. He served as Head of Global Customer Accounts and Head of Western Europe Region - Sony Ericsson of Sony Ericsson Mobile Communications (USA), Inc until April 01, 2010. He served as Head of Global Sales & Marketing at Sony Ericsson Mobile Communications (USA), Inc., since April 2010. Mr. Tear served as the Head of Western Europe Region at Sony Ericsson Mobile Communications AB from June 2009 to April 01, 2010 and also served as its Head of Global Customer Accounts until April 1, 2010. Mr. Tear served as President of Ericsson Southeast Asia and Country Manager of Ericsson Malaysia at Ericsson S.p.A. since June 1, 2005. Mr. Tear served as General Manager of Market Unit South East Asia and Vice President at Ericsson S.p.A. since June 1, 2005. He served as General Manager of Market Unit South East Asia and Vice President at Ericsson Telecomunicacoes S.A. (formerly, Telefonaktiebolaget Lm Ericsson (publ)). Mr. Tear spent 17 years at Ericsson in various senior management positions. Mr. Tear also served as the Corporate Vice President of Sony Ericsson Western Europe based in Munich, with responsibility for the region Western Europe and Global Customer Accounts. Prior to that, he served as Corporate Vice President at Sony Ericsson Headquarters in London. From 1999 to 2005, he served as President and Chief Executive Officer of Ericsson in various regions and markets, including in South East Asia, Germany, Switzerland and Austria and Central America. He joined Sony Ericsson in 2005 from Ericsson, where he held a number of executive management positions in Asia, Europe and Latin America. He served as a member of the Executive Management Team and Chairman of the Board at Sony Mobile Inc Americas and Sony Mobile International AB. He served as Chairman and Director of NOTE AB since April 25, 2014 until January 20, 2017. He serves as a Director International Tennis Hall of Fame, U.S.A. He serves as Member of the Advisory Board at RiverMeadow Software U.S.A. He served as a Director of Tampnet AS since October 30, 2014 until November 13, 2017. He was also Chairman of the Product Business Council, Chairman of the Accessories Business Unit, Board member of Sony Mobile Japan and China. Mr. Tear holds a Masters Degree in Science from the Royal Institute of Technology in Sweden and completed the Ericsson Executive MBA programme at Columbia University in New York.

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

Average tenure and age of the Bang & Olufsen management team in years:

1.4
Average Tenure
49
Average Age
  • The average tenure for the Bang & Olufsen management team is less than 2 years, this suggests a new team.
Management Team

Nikolaj Wendelboe

TITLE
Executive VP
AGE
44
TENURE
0.5 yrs

John Mollanger

TITLE
Executive VP
AGE
49
TENURE
2.4 yrs

Snorre Kjesbu

TITLE
Head of Product Creation & Fulfilment
AGE
50
TENURE
0.7 yrs

Kristian Tear

TITLE
CEO, President & Member of the Executive Board
AGE
56
TENURE
0.1 yrs

Martin Egenhardt

TITLE
Head of Investor Relations

Jens Gamborg

TITLE
Head of Group Communications

Christian Birk

TITLE
Chief Digital Officer & Senior VP
AGE
33
TENURE
2.1 yrs

Jaan Lievand

TITLE
Chief Executive Officer of OÜ BO-Soft Tallinn

Lars Jørgensen

TITLE
Senior Director of Research & Engineering
TENURE
3.4 yrs

Claus Jensen

TITLE
Director of Brand & Market Operations
Board of Directors Tenure

Average tenure and age of the Bang & Olufsen board of directors in years:

0.8
Average Tenure
55.5
Average Age
  • The average tenure for the Bang & Olufsen board of directors is less than 3 years, this suggests a new board.
Board of Directors

Ole Andersen

TITLE
Independent Chairman of the Board
AGE
63
TENURE
8.9 yrs

Juha Christensen

TITLE
Independent Vice Chairman of the Board
AGE
55
TENURE
3.2 yrs

Jesper Jarlbæk

TITLE
Independent Director
AGE
63
TENURE
8.7 yrs

Mads Nipper

TITLE
Independent Director
AGE
53
TENURE
5.2 yrs

Anders Friis

TITLE
Independent Director
AGE
56
TENURE
1.3 yrs

Tuula Rytila

TITLE
Independent Director
AGE
52
TENURE
0.3 yrs

Joan Pi O

TITLE
Independent Director
AGE
59
TENURE
0.3 yrs

M. Chung

TITLE
Independent Director
AGE
51
TENURE
0.3 yrs

Britt Jepsen

TITLE
Employee Representative Director
TENURE
0.3 yrs

Dorte Vegeberg

TITLE
Employee Representative Director
TENURE
0.3 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 Bang & Olufsen'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. Bang & Olufsen 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.

BUOB News

Simply Wall St News

BUOB Company Info

Description

Bang & Olufsen a/s designs, develops, and markets audio and video products. The company offers portable, multi room, stereo, and architectural speakers; over-ear, on-ear, and other ear and head phones; televisions; and accessories. It also provides products for hotels and hospitality, smart home, automotive, and computer audio markets. The company offers its products through approximately 522 Bang & Olufsen monobranded stores; and 4,782 multi-brand stores, as well as through third party retail stores and online. It has operations in Denmark, China, the United States, the United Kingdom, Ireland, Germany, Eastern Europe, South Korea, Switzerland, Hong Kong, and internationally. The company was founded in 1925 and is based in Struer, Denmark.

Details
Name: Bang & Olufsen a/s
BUOB
Exchange: DB
Founded: 1925
DKK197,483,825
40,834,039
Website: http://www.bang-olufsen.com
Address: Bang & Olufsen a/s
Bang og Olufsen Allé 1,
Struer,
7600,
Denmark
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
CPSE BO Ordinary Shares OMX Nordic Exchange Copenhagen DK DKK 02. Jan 1992
OTCPK BGOU.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB BUOB Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0MRM Ordinary Shares London Stock Exchange GB DKK 02. Jan 1992
BATS-CHIXE BOC Ordinary Shares BATS 'Chi-X Europe' GB DKK 02. Jan 1992
Number of employees
Current staff
Staff numbers
912
Bang & Olufsen employees.
Industry
Consumer Electronics
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/19 21:03
End of day share price update: 2019/11/19 00:00
Last estimates confirmation: 2019/10/07
Last earnings filing: 2019/10/03
Last earnings reported: 2019/08/31
Last annual earnings reported: 2019/05/31


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.