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Resurs Holding

DB:4R6
Snowflake Description

Good value average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
4R6
DB
SEK7B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Resurs Holding AB (publ), through its subsidiaries, provides payment solutions, consumer loans, and insurance products in Sweden, Denmark, Norway, and Finland. The last earnings update was 22 days ago. More info.


Add to Portfolio Compare Print
  • Resurs Holding has significant price volatility in the past 3 months.
4R6 Share Price and Events
7 Day Returns
0.8%
DB:4R6
-4.8%
Europe Consumer Finance
2.1%
DE Market
1 Year Returns
-47.4%
DB:4R6
-50.9%
Europe Consumer Finance
-16.6%
DE Market
4R6 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Resurs Holding (4R6) 0.8% -32.5% -47.3% -47.4% -47.7% -
Europe Consumer Finance -4.8% -34.8% -44.2% -50.9% -66.5% -66.7%
DE Market 2.1% -12.6% -22.9% -16.6% -21.9% -27.8%
1 Year Return vs Industry and Market
  • 4R6 outperformed the Consumer Finance industry which returned -50.9% over the past year.
  • 4R6 underperformed the Market in Germany which returned -16.6% over the past year.
Price Volatility
4R6
Industry
5yr Volatility vs Market

Value

 Is Resurs Holding 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 Resurs Holding 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 Resurs Holding.

DB:4R6 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= SEK31.63 * 17.8%
SEK5.62
Book Value of Equity per Share Median Book Value from the past 5 years. SEK31.63
Discount Rate (Cost of Equity) See below 6.1%
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:4R6
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Consumer Finance Unlevered Beta Simply Wall St/ S&P Global 0.64
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.639 (1 + (1- 22%) (128.43%))
1.187
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.19
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.187 * 5.44%)
6.07%

Discounted Cash Flow Calculation for DB:4R6 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Resurs Holding is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:4R6 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (17.8% – 6.07%) * SEK31.63)
SEK3.70
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= SEK3.70 / (6.07% - -0.39%)
SEK57.29
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= SEK31.63 + SEK57.29
SEK88.92
DB:4R6 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:4R6 represents 0.09049x of OM:RESURS
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.09049x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (SEK) x Listing Adjustment Factor
= SEK 88.92 x 0.09049
€8.05
Value per share (EUR) From above. €8.05
Current discount Discount to share price of €2.99
= -1 x (€2.99 - €8.05) / €8.05
62.9%

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

Current Discount
Amount off the current price Resurs Holding is available for.
Intrinsic value
>50%
Share price is €2.99 vs Future cash flow value of €8.05
Current Discount Checks
For Resurs Holding to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Resurs Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Resurs Holding'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 Resurs Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Resurs Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:4R6 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in SEK SEK6.07
OM:RESURS Share Price ** OM (2020-04-07) in SEK SEK33.02
Europe Consumer Finance Industry PE Ratio Median Figure of 27 Publicly-Listed Consumer Finance Companies 5.27x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 16.83x

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

** Primary Listing of Resurs Holding.

DB:4R6 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 33.02 ÷ 6.07

5.44x

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

  • Resurs Holding is overvalued based on earnings compared to the Europe Consumer Finance industry average.
  • Resurs Holding is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Resurs Holding's expected growth come at a high price?
Raw Data
DB:4R6 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.44x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
10.7%per year
Europe Consumer Finance Industry PEG Ratio Median Figure of 19 Publicly-Listed Consumer Finance Companies 0.43x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

DB:4R6 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.44x ÷ 10.7%

0.51x

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

  • Resurs Holding is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Resurs Holding's assets?
Raw Data
DB:4R6 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in SEK SEK35.71
OM:RESURS Share Price * OM (2020-04-07) in SEK SEK33.02
Europe Consumer Finance Industry PB Ratio Median Figure of 42 Publicly-Listed Consumer Finance Companies 0.68x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.45x
DB:4R6 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 33.02 ÷ 35.71

0.92x

* Primary Listing of Resurs Holding.

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

  • Resurs Holding is overvalued based on assets compared to the Europe Consumer Finance industry average.
X
Value checks
We assess Resurs Holding'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 Finance 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 Finance industry average (and greater than 0)? (1 check)
  5. Resurs Holding has a total score of 4/6, 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 Resurs Holding expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
10.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Resurs Holding expected to grow at an attractive rate?
  • Resurs Holding's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Resurs Holding's earnings growth is positive but not above the Germany market average.
  • Resurs Holding's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:4R6 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:4R6 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 10.7%
DB:4R6 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 12.9%
Europe Consumer Finance Industry Earnings Growth Rate Market Cap Weighted Average 12.3%
Europe Consumer Finance Industry Revenue Growth Rate Market Cap Weighted Average 9.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
DB:4R6 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:4R6 Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 4,604 1
2021-12-31 4,304 1,505 1
2020-12-31 3,958 1,349 1
2020-04-08
DB:4R6 Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2019-12-31 3,010 -2,610 1,213
2019-09-30 3,018 -2,052 1,211
2019-06-30 2,992 -2,388 1,196
2019-03-31 2,966 -3,430 1,172
2018-12-31 2,902 -2,907 1,143
2018-09-30 2,854 -3,527 1,149
2018-06-30 2,781 -2,786 1,124
2018-03-31 2,710 -2,772 1,098
2018-01-01 2,678 -1,765 1,080
2017-09-30 2,581 -1,672 1,035
2017-06-30 2,535 -2,153 979
2017-03-31 2,486 -1,986 956

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Resurs Holding's earnings are expected to grow by 10.7% yearly, however this is not considered high growth (20% yearly).
  • Resurs Holding's revenue is expected to grow by 12.9% 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:4R6 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 1 Analyst Estimates (S&P Global) See Below

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

DB:4R6 Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 8.10 8.10 8.10 1.00
2021-12-31 7.52 7.52 7.52 1.00
2020-12-31 6.74 6.74 6.74 1.00
2020-04-08
DB:4R6 Past Financials Data
Date (Data in SEK Millions) EPS *
2019-12-31 6.07
2019-09-30 6.05
2019-06-30 5.98
2019-03-31 5.86
2018-12-31 5.72
2018-09-30 5.74
2018-06-30 5.62
2018-03-31 5.49
2018-01-01 5.40
2017-09-30 5.18
2017-06-30 4.90
2017-03-31 4.78

*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.
  • Resurs Holding is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Resurs Holding's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Resurs Holding 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 Resurs Holding 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 Resurs Holding's growth in the last year to its industry (Consumer Finance).
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.
  • Resurs Holding's year on year earnings growth rate has been positive over the past 5 years.
  • Resurs Holding's 1-year earnings growth is less than its 5-year average (6.1% vs 16.4%)
  • Resurs Holding's earnings growth has not exceeded the Europe Consumer Finance industry average in the past year (6.1% vs 17.9%).
Earnings and Revenue History
Resurs Holding'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 Resurs Holding Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:4R6 Past Revenue, Cash Flow and Net Income Data
Date (Data in SEK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 3,009.76 1,213.34 1,440.34
2019-09-30 3,018.22 1,210.77 1,456.89
2019-06-30 2,991.72 1,196.26 1,435.74
2019-03-31 2,966.12 1,172.13 1,430.12
2018-12-31 2,902.28 1,143.42 1,410.89
2018-09-30 2,853.98 1,148.87 1,363.88
2018-06-30 2,781.44 1,123.65 1,328.33
2018-03-31 2,709.84 1,098.09 1,290.98
2018-01-01 2,677.89 1,080.03 1,275.59
2017-09-30 2,581.48 1,035.00 1,088.88
2017-06-30 2,535.46 979.41 1,114.02
2017-03-31 2,486.34 956.14 1,103.80
2016-12-31 2,419.84 904.79 1,112.87
2016-09-30 2,342.06 799.62 1,251.26
2016-06-30 2,199.62 745.53 1,191.71
2016-03-31 2,076.83 660.23 1,178.73
2015-12-31 1,960.21 622.21 1,110.58
2015-09-30 1,887.71 625.77 1,049.02
2014-12-31 1,615.82 467.65 961.74
2013-12-31 1,493.08 286.83 1,056.91

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

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

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

Health

 How is Resurs Holding'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 Resurs Holding's finances.

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

DB:4R6 Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 7,141.25 8,390.50 7,632.36
2019-09-30 6,937.96 8,447.87 8,118.51
2019-06-30 6,627.32 8,223.66 6,508.34
2019-03-31 6,693.79 8,479.96 7,823.03
2018-12-31 6,348.54 8,293.24 6,324.50
2018-09-30 6,468.02 8,230.92 6,516.85
2018-06-30 6,184.54 7,546.62 6,138.71
2018-03-31 6,210.11 7,216.84 5,919.59
2018-01-01 5,850.09 6,040.96 5,587.06
2017-09-30 6,232.75 5,454.55 5,876.53
2017-06-30 5,937.94 5,038.70 5,970.44
2017-03-31 6,325.24 4,487.28 6,154.69
2016-12-31 6,099.16 3,427.53 6,297.45
2016-09-30 5,872.34 2,666.96 6,345.41
2016-06-30 5,547.94 2,261.34 6,055.13
2016-03-31 5,237.94 2,276.92 4,791.88
2015-12-31 5,004.17 2,363.97 5,064.58
2015-09-30 3,684.85 1,818.04 5,156.58
2014-12-31 3,264.38 95.88 3,760.15
2013-12-31 2,021.82 5.42 2,294.67
  • Resurs Holding's level of debt (117.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (3.1% vs 117.5% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on Resurs Holding's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Resurs Holding'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. Resurs Holding has a total score of 1/6, 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 Resurs Holding'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
11.81%
Current annual income from Resurs Holding dividends. Estimated to be 13.63% next year.
If you bought €2,000 of Resurs Holding shares you are expected to receive €236 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?
  • Resurs Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.67%).
  • Resurs Holding's dividend is above the markets top 25% of dividend payers in Germany (4.71%).
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:4R6 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 1 Analyst Estimates (S&P Global) See Below
Europe Consumer Finance Industry Average Dividend Yield Market Cap Weighted Average of 17 Stocks 6.6%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.7%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

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

DB:4R6 Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 4.80 1.00
2021-12-31 4.50 1.00
2020-12-31 4.20 1.00
2020-04-08
DB:4R6 Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2020-03-17 3.900 11.947
2019-09-03 3.750 6.729
2019-03-19 3.600 6.390
2018-09-04 3.450 5.805
2018-04-27 3.600 5.984
2017-10-31 3.000 5.155
2017-10-27 3.000 5.130
2017-03-27 3.000 5.509

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

  • Whilst dividend payments have been stable, Resurs Holding has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Resurs Holding only paid a dividend in the past 3 years.
Current Payout to shareholders
What portion of Resurs Holding's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
X
Income/ dividend checks
We assess Resurs Holding's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Resurs Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Resurs Holding has a total score of 4/6, see the detailed checks below.


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

Management

 What is the CEO of Resurs Holding'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
Kenneth Nilsson
COMPENSATION SEK5,974,000
AGE 57
TENURE AS CEO 8.3 years
CEO Bio

Mr. Kenneth Nilsson has been the Chief Executive Officer and President at Resurs Holding AB (publ) since 2012. Mr. Nilsson has been the Chief Executive Officer of Resurs Bank AB (publ) since September 01, 2015. He served as Chief Executive Officer assistant at Resurs Finance. He serves as Member of the Board of Directors of Solid Försäkringsaktiebolag and served as its Chief Executive Officer. Mr. Nilsson holds Economics and marketing studies, Nicolai school, Helsingborg. Internal training at Skånska Banken.

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

Average tenure and age of the Resurs Holding management team in years:

2.3
Average Tenure
46
Average Age
  • The tenure for the Resurs Holding management team is about average.
Management Team

Kenneth Nilsson

TITLE
President & CEO
COMPENSATION
SEK6M
AGE
57
TENURE
8.3 yrs

Christina Kassberg

TITLE
Interim CFO & Head of IR
AGE
51
TENURE
1.3 yrs

Erik Frick

TITLE
Chief Operating Officer
AGE
37
TENURE
1.6 yrs

Sebastian Green

TITLE
Chief Information Officer
AGE
46
TENURE
2.3 yrs

Anette Riple

TITLE
Chief Marketing Officer
AGE
44
TENURE
3.1 yrs

Eva Brike

TITLE
Chief Human Resources Officer
AGE
51
TENURE
3 yrs

Marcus Tillberg

TITLE
MD of Solid Försäkringar
AGE
44

Anna Nauclér

TITLE
Chief Commercial Officer
TENURE
2.3 yrs

Christina Ohlsson

TITLE
Investor Relations Officer
Board of Directors Tenure

Average tenure and age of the Resurs Holding board of directors in years:

5.3
Average Tenure
53.5
Average Age
  • The tenure for the Resurs Holding board of directors is about average.
Board of Directors

Martin Bengtsson

TITLE
Chairman
COMPENSATION
SEK710K
AGE
49
TENURE
0.5 yrs

Fredrik Carlsson

TITLE
Independent Director
COMPENSATION
SEK465K
AGE
49
TENURE
8.3 yrs

Lars Nordstrand

TITLE
Independent Director
COMPENSATION
SEK723K
AGE
68
TENURE
8.3 yrs

Mariana Linder

TITLE
Independent Director
COMPENSATION
SEK582K
AGE
62
TENURE
5.3 yrs

Anders Dahlvig

TITLE
Independent Director
COMPENSATION
SEK440K
AGE
62
TENURE
8.3 yrs

Marita Engström

TITLE
Independent Director
COMPENSATION
SEK594K
AGE
58
TENURE
5.3 yrs

Mikael Wintzell

TITLE
Independent Director
COMPENSATION
SEK440K
AGE
38
TENURE
2 yrs

Johanna Berlinde

TITLE
Independent Director
COMPENSATION
SEK293K
AGE
49
TENURE
1 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Resurs Holding individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
25. Mar 20 Buy Sönerna Carlsson Family Office AB Company 25. Mar 20 25. Mar 20 29,000 €3.14 €91,011
04. Feb 20 Buy Kenneth Nilsson Individual 04. Feb 20 04. Feb 20 21,526 €5.08 €109,449
23. Jul 19 Sell Mariana Linder Individual 23. Jul 19 23. Jul 19 -23,000 €5.56 €-127,843
30. May 19 Buy Waldir AB Company 28. May 19 28. May 19 100,000 €5.15 €515,136
X
Management checks
We assess Resurs Holding'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. Resurs Holding 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

Resurs Holding AB (publ), through its subsidiaries, provides payment solutions, consumer loans, and insurance products in Sweden, Denmark, Norway, and Finland. The company’s payment solutions comprises retail finance, which includes sales-driving finance, and payment and loyalty solutions to chain stores and e-commerce companies; credit cards for retail finance partner; and factoring that focuses on invoice factoring and invoice discounting for small and mid-sized companies increase their liquidity and reduce credit risk. It also offers consumer loans focusing primarily on lending to consumers; and insurance products, such as product, security, motor, and travel. The company was founded in 1977 and is headquartered in Helsingborg, Sweden.

Details
Name: Resurs Holding AB (publ)
4R6
Exchange: DB
Founded: 1977
SEK604,850,822
200,000,000
Website: http://www.resursholding.se
Address: Resurs Holding AB (publ)
Ekslingan 9,
Väla North,
Helsingborg,
Skåne County, Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM RESURS Share Capital OMX Nordic Exchange Stockholm SE SEK 29. Apr 2016
OTCPK RSRS.F Share Capital Pink Sheets LLC US USD 29. Apr 2016
DB 4R6 Share Capital Deutsche Boerse AG DE EUR 29. Apr 2016
LSE 0RFP Share Capital London Stock Exchange GB SEK 29. Apr 2016
BATS-CHIXE RESURS Share Capital BATS 'Chi-X Europe' GB SEK 29. Apr 2016
Number of employees
Current staff
Staff numbers
750
Resurs Holding employees.
Industry
Consumer Finance
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 01:04
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/02/19
Last earnings filing: 2020/03/17
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.