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Husqvarna

DB:HRZA
Snowflake Description

Excellent balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HRZA
DB
SEK44B
Market Cap
  1. Home
  2. DE
  3. Consumer Durables
Company description

Husqvarna AB (publ) produces and sells outdoor power and garden watering products worldwide. The last earnings update was 28 days ago. More info.


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HRZA Share Price and Events
7 Day Returns
-3.6%
DB:HRZA
0.5%
DE Consumer Durables
-0.3%
DE Market
1 Year Returns
9.4%
DB:HRZA
4%
DE Consumer Durables
10.4%
DE Market
HRZA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Husqvarna (HRZA) -3.6% 2% 0.9% 9.4% - -
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
  • HRZA outperformed the Consumer Durables industry which returned 4% over the past year.
  • HRZA underperformed the Market in Germany which returned 10.4% over the past year.
Price Volatility
HRZA
Industry
5yr Volatility vs Market

Value

 Is Husqvarna 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 Husqvarna 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 Husqvarna.

DB:HRZA 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 6%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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

Calculation of Discount Rate/ Cost of Equity for DB:HRZA
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%) (24.12%))
0.976
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.976 * 5.96%)
6.05%

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

The calculations below outline how an intrinsic value for Husqvarna 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:HRZA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SEK, Millions) Source Present Value
Discounted (@ 6.05%)
2020 2,861.50 Analyst x6 2,698.36
2021 3,141.80 Analyst x5 2,793.76
2022 3,333.00 Est @ 6.09% 2,794.81
2023 3,477.27 Est @ 4.33% 2,749.54
2024 3,585.01 Est @ 3.1% 2,673.11
2025 3,665.21 Est @ 2.24% 2,577.10
2026 3,725.12 Est @ 1.63% 2,469.90
2027 3,770.29 Est @ 1.21% 2,357.32
2028 3,804.87 Est @ 0.92% 2,243.31
2029 3,831.90 Est @ 0.71% 2,130.44
Present value of next 10 years cash flows SEK25,487.00
DB:HRZA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= SEK3,831.90 × (1 + 0.23%) ÷ (6.05% – 0.23%)
SEK66,012.38
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SEK66,012.38 ÷ (1 + 6.05%)10
SEK36,701.22
DB:HRZA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SEK25,487.00 + SEK36,701.22
SEK62,188.22
Equity Value per Share
(SEK)
= Total value / Shares Outstanding
= SEK62,188.22 / 572.20
SEK108.68
DB:HRZA Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:HRZA represents 0.09196x of OM:HUSQ B
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.09196x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (SEK) x Listing Adjustment Factor
= SEK 108.68 x 0.09196
€9.99
Value per share (EUR) From above. €9.99
Current discount Discount to share price of €7.00
= -1 x (€7.00 - €9.99) / €9.99
30%

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

Current Discount
Amount off the current price Husqvarna is available for.
Intrinsic value
30%
Share price is €7 vs Future cash flow value of €9.99
Current Discount Checks
For Husqvarna to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Husqvarna's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Husqvarna's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Husqvarna's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Husqvarna's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:HRZA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in SEK SEK3.48
OM:HUSQ B Share Price ** OM (2019-11-19) in SEK SEK76.12
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 Husqvarna.

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

= OM:HUSQ B Share Price ÷ EPS (both in SEK)

= 76.12 ÷ 3.48

21.84x

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

  • Husqvarna is overvalued based on earnings compared to the DE Consumer Durables industry average.
  • Husqvarna is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Husqvarna's expected growth come at a high price?
Raw Data
DB:HRZA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 21.84x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
12.9%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 .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 21.84x ÷ 12.9%

1.7x

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

  • Husqvarna is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Husqvarna's assets?
Raw Data
DB:HRZA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in SEK SEK31.05
OM:HUSQ B Share Price * OM (2019-11-19) in SEK SEK76.12
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:HRZA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OM:HUSQ B Share Price ÷ Book Value per Share (both in SEK)

= 76.12 ÷ 31.05

2.45x

* Primary Listing of Husqvarna.

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

  • Husqvarna is overvalued based on assets compared to the DE Consumer Durables industry average.
X
Value checks
We assess Husqvarna'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. Husqvarna has a total score of 1/6, 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 Husqvarna 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
12.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Husqvarna expected to grow at an attractive rate?
  • Husqvarna's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Husqvarna's earnings growth is expected to exceed the Germany market average.
  • Husqvarna's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:HRZA Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:HRZA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 12.9%
DB:HRZA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 2.3%
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:HRZA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:HRZA Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 44,519 5,422 3,234 6
2020-12-31 42,866 5,236 2,921 6
2019-12-31 42,477 4,714 2,638 6
2019-11-19
DB:HRZA Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2019-09-30 42,339 3,943 1,993
2019-06-30 41,952 3,799 1,538
2019-03-31 42,433 1,912 1,413
2018-12-31 41,085 1,987 1,212
2018-09-30 40,745 2,796 2,195
2018-06-30 40,152 3,179 2,590
2018-03-31 38,951 4,645 2,608
2017-12-31 39,394 3,739 2,654
2017-09-30 39,032 4,250 2,473
2017-06-30 38,932 4,449 2,469
2017-03-31 37,367 3,188 2,326
2016-12-31 35,982 3,555 2,100

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Husqvarna's earnings are expected to grow by 12.9% yearly, however this is not considered high growth (20% yearly).
  • Husqvarna's revenue is expected to grow by 2.3% 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:HRZA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Husqvarna Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:HRZA Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 5.69 5.98 5.49 5.00
2020-12-31 5.10 5.31 4.84 6.00
2019-12-31 4.61 4.75 4.45 6.00
2019-11-19
DB:HRZA Past Financials Data
Date (Data in SEK Millions) EPS *
2019-09-30 3.48
2019-06-30 2.69
2019-03-31 2.47
2018-12-31 2.12
2018-09-30 3.84
2018-06-30 4.53
2018-03-31 4.56
2017-12-31 4.64
2017-09-30 4.32
2017-06-30 4.31
2017-03-31 4.07
2016-12-31 3.67

*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.
  • Husqvarna is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Husqvarna'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.
Husqvarna has a total score of 2/6, 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 Husqvarna 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 Husqvarna'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.
  • Husqvarna's year on year earnings growth rate has been positive over the past 5 years.
  • Husqvarna's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Husqvarna's 1-year earnings growth is negative, it can't be compared to the DE Consumer Durables industry average.
Earnings and Revenue History
Husqvarna'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 Husqvarna Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:HRZA Past Revenue, Cash Flow and Net Income Data
Date (Data in SEK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 42,339.00 1,993.00 8,921.00
2019-06-30 41,952.00 1,538.00 8,794.00
2019-03-31 42,433.00 1,413.00 8,700.00
2018-12-31 41,085.00 1,212.00 8,422.00
2018-09-30 40,745.00 2,195.00 8,214.00
2018-06-30 40,152.00 2,590.00 8,114.00
2018-03-31 38,951.00 2,608.00 7,858.00
2017-12-31 39,394.00 2,654.00 7,774.00
2017-09-30 39,032.00 2,473.00 7,824.00
2017-06-30 38,932.00 2,469.00 7,942.00
2017-03-31 37,367.00 2,326.00 7,997.00
2016-12-31 35,982.00 2,100.00 7,905.00
2016-09-30 35,886.00 1,982.00 7,763.00
2016-06-30 35,844.00 1,973.00 7,593.00
2016-03-31 36,603.00 1,856.00 7,528.00
2015-12-31 36,170.00 1,883.00 7,395.00
2015-09-30 35,821.00 1,160.00 7,394.00
2015-06-30 35,299.00 1,162.00 7,345.00
2015-03-31 34,081.00 987.00 7,268.00
2014-12-31 32,838.00 820.00 7,053.00
2014-09-30 32,222.00 1,479.00 6,888.00
2014-06-30 31,786.00 1,373.00 6,719.00
2014-03-31 30,968.00 1,068.00 6,526.00
2013-12-31 30,307.00 914.00 6,457.00
2013-09-30 30,076.00 720.00 6,569.00
2013-06-30 29,568.00 734.00 6,523.00
2013-03-31 30,047.00 857.00 6,570.00
2012-12-31 30,834.00 1,022.00 6,678.00

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Husqvarna is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Husqvarna's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Husqvarna'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 2.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

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

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

All data from Husqvarna Company Filings, last reported 1 month ago.

DB:HRZA Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 17,769.00 8,840.00 1,623.00
2019-06-30 17,395.00 9,411.00 2,116.00
2019-03-31 17,250.00 11,959.00 1,514.00
2018-12-31 16,009.00 9,806.00 1,346.00
2018-09-30 17,045.00 8,004.00 1,959.00
2018-06-30 17,278.00 9,671.00 2,764.00
2018-03-31 16,980.00 10,284.00 2,428.00
2017-12-31 15,667.00 7,826.00 1,872.00
2017-09-30 15,478.00 8,385.00 4,105.00
2017-06-30 15,523.00 8,124.00 2,611.00
2017-03-31 15,403.00 10,108.00 2,025.00
2016-12-31 14,365.00 7,174.00 1,941.00
2016-09-30 14,242.00 6,945.00 3,227.00
2016-06-30 13,857.00 7,216.00 2,271.00
2016-03-31 13,665.00 8,594.00 1,672.00
2015-12-31 13,061.00 6,952.00 1,626.00
2015-09-30 13,229.00 6,364.00 1,925.00
2015-06-30 12,961.00 7,854.00 1,862.00
2015-03-31 12,933.00 10,318.00 1,749.00
2014-12-31 12,088.00 7,504.00 1,579.00
2014-09-30 12,872.00 7,167.00 2,316.00
2014-06-30 12,576.00 8,525.00 2,330.00
2014-03-31 11,994.00 9,096.00 1,755.00
2013-12-31 11,390.00 7,290.00 1,611.00
2013-09-30 11,382.00 6,834.00 1,588.00
2013-06-30 11,614.00 9,209.00 1,940.00
2013-03-31 11,116.00 10,043.00 1,412.00
2012-12-31 11,008.00 8,366.00 1,245.00
  • Husqvarna's level of debt (49.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (55.7% vs 49.7% today).
  • Debt is well covered by operating cash flow (44.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.7x coverage).
X
Financial health checks
We assess Husqvarna'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. Husqvarna has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

Dividends

 What is Husqvarna'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
2.96%
Current annual income from Husqvarna dividends. Estimated to be 3.51% next year.
If you bought €2,000 of Husqvarna shares you are expected to receive €59 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?
  • Husqvarna's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.35%).
  • Husqvarna's dividend is below the markets top 25% of dividend payers in Germany (3.72%).
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:HRZA 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 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:HRZA Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 2.95 6.00
2020-12-31 2.67 6.00
2019-12-31 2.40 6.00
2019-11-19
DB:HRZA Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2019-04-09 2.250 2.796
2018-03-20 2.250 3.013
2018-02-02 2.250 2.615
2017-03-01 1.950 2.390
2016-03-03 1.650 2.429
2015-03-18 1.650 2.858
2015-02-06 1.650 2.550
2014-03-07 1.500 2.897
2013-04-11 1.500 3.823
2012-03-28 1.500 4.138
2011-05-04 1.500 4.225
2010-04-27 1.000 1.996
2009-10-23 0.000 0.000
2009-07-17 0.000 0.000
2009-05-08 0.000 0.000
2009-03-10 0.000 0.000
2009-02-20 0.000 0.000

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Husqvarna's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
X
Income/ dividend checks
We assess Husqvarna'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 Husqvarna afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Husqvarna has a total score of 5/6, 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 Husqvarna'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
Kai Wärn
COMPENSATION SEK0
AGE 60
TENURE AS CEO 6.3 years
CEO Bio

Mr. Kai Wärn has been the Chief Executive Officer and President of Husqvarna AB (publ) since July 01, 2013. Mr. Wärn served as an Industrial Adviser at IK Investment Partners. He looks after investments in Sweden. He served as an Operations Partner and Partner of Strategy, Operations and Business Control at IK Investment Partners from 2011 to 2013, The Industri Kapital 2007 Fund and The Industri Kapital 2004 Fund. He joined Industri Kapital on January 1, 2011. He served as the Chief Executive Officer of Seco Group since October 2004 to 2010. He served as President of ABB Robotics Products at ABB Ltd. Mr. Wärn served as the Chief Executive Officer and President of Seco Tools AB from October 2004 to December 31, 2010 and also served as a Member of the Group Executive Management. He was responsible for Business Unit Products, in Business Area ABB Manufacturing Automation. During the period 1985 to 2004, he was employed in the ABB group where most of his time was devoted to product operations, of which 10 years in Belgium, Germany and the United Kingdom. From 1999 to 2004, he served as Global Manager of the industrial robotics product unit of the ABB Manufacturing Automation business area and also served as the President of ABB Robotics Products. He has been Director at AB Electrolux (publ) since March 23, 2017. He has been a Director of Husqvarna AB (publ) since April 10, 2014 and Dynea Oy since March 15, 2011. Mr. Wärn served as a Director of Sweco AB since May 2010 until April 17, 2013. He served as an Executive Director of Seco Tools Ab from May 2, 2005 to December 2010. Mr. Wärn holds a M.Sc. in Mechanical Engineering from the Royal Institute of Technology in Stockholm.

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

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

4.1
Average Tenure
50
Average Age
  • The tenure for the Husqvarna management team is about average.
Management Team

Kai Wärn

TITLE
CEO, President & Director
AGE
60
TENURE
6.3 yrs

Glen Instone

TITLE
Senior VP of Finance
TENURE
1 yrs

Anders Johanson

TITLE
Senior VP of Innovation & Technology and CTO
AGE
50
TENURE
4.1 yrs

Johan Andersson

TITLE
Director of Group Corporate Communications & Investor Relations

Brian Belanger

TITLE
Senior VP of Legal Affairs & General Counsel
AGE
50
TENURE
4.5 yrs

Leigh Dagberg

TITLE
Senior Vice President of People & Organization
TENURE
1.1 yrs

Per Ericson

TITLE
Senior Vice President of Business Development
AGE
56
TENURE
1.1 yrs

Pavel Hajman

TITLE
Senior Vice President of Operations Development
AGE
54
TENURE
1.8 yrs

Sascha Menges

TITLE
President of Husqvarna Division
AGE
48
TENURE
4.8 yrs

Henric Andersson

TITLE
President of Construction Division
AGE
46
TENURE
4.2 yrs
Board of Directors Tenure

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

5.1
Average Tenure
60
Average Age
  • The tenure for the Husqvarna board of directors is about average.
Board of Directors

Tom Johnstone

TITLE
Chairman
COMPENSATION
SEK2M
AGE
64
TENURE
4.6 yrs

Kai Wärn

TITLE
CEO, President & Director
AGE
60
TENURE
5.6 yrs

Ulla Litzén

TITLE
Director
COMPENSATION
SEK715K
AGE
63
TENURE
9.6 yrs

Katarina Martinson

TITLE
Director
COMPENSATION
SEK625K
AGE
38
TENURE
7.7 yrs

Daniel Nodhäll

TITLE
Director
COMPENSATION
SEK625K
AGE
41
TENURE
6.6 yrs

Lars Pettersson

TITLE
Director
COMPENSATION
SEK585K
AGE
65
TENURE
5.6 yrs

Bertrand Neuschwander

TITLE
Independent Director
COMPENSATION
SEK585K
AGE
57
TENURE
3.6 yrs

Chris Robins

TITLE
Director
COMPENSATION
SEK525K
TENURE
2.6 yrs

Dan Byström

TITLE
Deputy Director
TENURE
1.8 yrs

Anders Köhler

TITLE
Deputy Employee Representative of the Board of Director
TENURE
0.8 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 Husqvarna'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. Husqvarna 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

Husqvarna AB (publ) produces and sells outdoor power and garden watering products worldwide. It operates through three divisions: Husqvarna, Gardena, and Construction. The Husqvarna division offers handheld products, such as chainsaws, brush cutters, trimmers, and leaf blowers; wheeled products, such as front riders, garden tractors, zero-turn mowers, walk-behind mowers, and snow throwers; robotic lawn mowers; and accessories and spare parts. The Gardena division provides watering management products, including garden hoses, connectors, reels, sprayers, sprinklers and sprinkler systems, water pumps, and watering controls; battery-and petrol-powered products, such as robotic mowers, trimmers, hedge cutters, and shrub shears; and garden tools comprising secateurs, loppers, axes, digging tools, and winter tools, as well as smart products consisting of Gardena Smart System, a connected automatic lawn care and water management solution. The Construction division offers construction products that include power cutters, drill motors, floor grinding machines, dust and slurry solutions, demolition robots, and diamond tools for construction and stone industries, as well as floor, tile and masonry, wall, and wire saws; and light compaction and concrete placement equipment. The company sells its products and solutions to forestry, tree care, landscaping, commercial lawn, and garden services sectors, as well as home and landowners primarily under the Husqvarna, Gardena, Diamant Boart, Zenoah, McCulloch, Jonsered, Flymo, and Klippo brands through dealers and retailers. Husqvarna AB (publ) was founded in 1689 and is headquartered in Stockholm, Sweden.

Details
Name: Husqvarna AB (publ)
HRZA
Exchange: DB
Founded: 1689
SEK4,088,235,484
572,202,614
Website: http://www.husqvarnagroup.com/en
Address: Husqvarna AB (publ)
Regeringsgatan 28,
Stockholm,
Stockholm County, Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM HUSQ B Class B Shares OMX Nordic Exchange Stockholm SE SEK 13. Jun 2006
OTCPK HUSQ.F Class B Shares Pink Sheets LLC US USD 13. Jun 2006
DB HRZ Class B Shares Deutsche Boerse AG DE EUR 13. Jun 2006
LSE 0GTR Class B Shares London Stock Exchange GB SEK 13. Jun 2006
BATS-CHIXE HUSQBS Class B Shares BATS 'Chi-X Europe' GB SEK 13. Jun 2006
OTCPK HSQV.Y SPON ADR Pink Sheets LLC US USD 15. Jun 2006
OM HUSQ A Class A Shares OMX Nordic Exchange Stockholm SE SEK 13. Jun 2006
OTCPK HUQV.F Class A Shares Pink Sheets LLC US USD 13. Jun 2006
DB HRZA Class A Shares Deutsche Boerse AG DE EUR 13. Jun 2006
LSE 0GWI Class A Shares London Stock Exchange GB SEK 13. Jun 2006
BATS-CHIXE HUSQAS Class A Shares BATS 'Chi-X Europe' GB SEK 13. Jun 2006
Number of employees
Current staff
Staff numbers
12,910
Husqvarna employees.
Industry
Household Appliances
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/19 21:51
End of day share price update: 2019/11/19 00:00
Last estimates confirmation: 2019/11/06
Last earnings filing: 2019/10/22
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.