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creditshelf

DB:CSQ
Snowflake Description

Adequate balance sheet with limited growth.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CSQ
DB
€76M
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

creditshelf Aktiengesellschaft operates an online credit marketplace lending platform for small- and medium-sized enterprises in Germany. The last earnings update was 23 days ago. More info.


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CSQ Share Price and Events
7 Day Returns
-3.3%
DB:CSQ
5%
DE Diversified Financial
2.5%
DE Market
1 Year Returns
-21.8%
DB:CSQ
1.4%
DE Diversified Financial
2.6%
DE Market
CSQ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
creditshelf (CSQ) -3.3% -10.8% -10.1% -21.8% - -
DE Diversified Financial 5% 7% -5% 1.4% 75.8% 333.8%
DE Market 2.5% 0.2% 1% 2.6% 7.8% 23.7%
1 Year Return vs Industry and Market
  • CSQ underperformed the Diversified Financial industry which returned 1.4% over the past year.
  • CSQ underperformed the Market in Germany which returned 2.6% over the past year.
Price Volatility
Industry
5yr Volatility vs Market
Related Companies

CSQ Value

 Is creditshelf 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
  • It is not possible to calculate the future cash flow value for creditshelf. This is due to cash flow or dividend data being unavailable. The share price is €58.
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 creditshelf's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are creditshelf's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:CSQ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in EUR €-5.27
XTRA:CSQ Share Price ** XTRA (2019-10-11) in EUR €57
Germany Diversified Financial Industry PE Ratio Median Figure of 6 Publicly-Listed Diversified Financial Companies 27.82x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

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

** Primary Listing of creditshelf.

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

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

= 57 ÷ -5.27

-10.82x

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

  • creditshelf is loss making, we can't compare its value to the DE Diversified Financial industry average.
  • creditshelf is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does creditshelf's expected growth come at a high price?
Raw Data
DB:CSQ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -10.82x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
24.7%per year
Europe Diversified Financial Industry PEG Ratio Median Figure of 13 Publicly-Listed Diversified Financial Companies 1.81x
Germany Market PEG Ratio Median Figure of 264 Publicly-Listed Companies 1.38x

*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 creditshelf, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on creditshelf's assets?
Raw Data
DB:CSQ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in EUR €6.73
XTRA:CSQ Share Price * XTRA (2019-10-11) in EUR €57
Germany Diversified Financial Industry PB Ratio Median Figure of 9 Publicly-Listed Diversified Financial Companies 3.77x
Germany Market PB Ratio Median Figure of 597 Publicly-Listed Companies 1.74x
DB:CSQ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 57 ÷ 6.73

8.47x

* Primary Listing of creditshelf.

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

  • creditshelf is overvalued based on assets compared to the DE Diversified Financial industry average.
X
Value checks
We assess creditshelf'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 Diversified Financial 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 Diversified Financial industry average (and greater than 0)? (1 check)
  5. creditshelf has a total score of 0/6, 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.

CSQ Future Performance

 How is creditshelf 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
24.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is creditshelf expected to grow at an attractive rate?
  • Unable to compare creditshelf's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare creditshelf's earnings growth to the Germany market average as it is expected to be loss making during the next 1-3 years.
  • creditshelf's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:CSQ Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:CSQ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 24.7%
DB:CSQ Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 34.3%
Germany Diversified Financial Industry Earnings Growth Rate Market Cap Weighted Average 17.3%
Europe Diversified Financial Industry Revenue Growth Rate Market Cap Weighted Average 0.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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:CSQ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:CSQ Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 18 -2 1
2022-12-31 13 -5 1
2021-12-31 15 0 -1 2
2020-12-31 8 -3 -4 2
2019-12-31 4 -4 -5 2
2019-10-12
DB:CSQ Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-06-30 4 1 -8
2019-03-31 3 -5 -6
2018-12-31 3 -4 -6
2018-09-30 2 -3 -2
2018-06-30 2 -1 -2
2018-03-31 2 1 -2
2017-12-31 1 1 -1
2016-12-31 0 -1 -1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • creditshelf is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • creditshelf's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:CSQ 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 2 Analyst Estimates (S&P Global) See Below

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

DB:CSQ Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 4.17 4.17 4.17 1.00
2020-12-31 -3.08 -0.25 -5.90 2.00
2019-12-31 -4.01 -2.92 -5.10 2.00
2019-10-12
DB:CSQ Past Financials Data
Date (Data in EUR Millions) EPS *
2019-06-30 -5.27
2019-03-31 -3.54
2018-12-31 -4.74
2018-09-30 -1.06
2018-06-30 -0.96
2018-03-31 -1.70
2017-12-31 -0.57
2016-12-31

*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.
  • creditshelf is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess creditshelf'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 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.
creditshelf 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.

CSQ Past Performance

  How has creditshelf 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 creditshelf's growth in the last year to its industry (Diversified Financial).
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.
  • creditshelf does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare creditshelf's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare creditshelf's 1-year growth to the Europe Diversified Financial industry average as it is not currently profitable.
Earnings and Revenue History
creditshelf'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 creditshelf Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:CSQ Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 3.70 -7.56 1.10
2019-03-31 3.32 -5.83 -0.23
2018-12-31 2.68 -6.31 1.13
2018-09-30 2.34 -2.42 1.22
2018-06-30 2.04 -1.78 1.51
2018-03-31 1.77 -1.91 2.37
2017-12-31 1.41 -0.76 0.51
2016-12-31 0.25 -0.84 1.40
2015-12-31 0.01 -0.24 0.34

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

CSQ Health

 How is creditshelf'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 creditshelf's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • creditshelf is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • creditshelf's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of creditshelf'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 143.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

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

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

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

DB:CSQ Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 8.95 0.11 14.45
2019-03-31 10.61 0.17 9.58
2018-12-31 11.45 0.10 12.42
2018-09-30 15.65 0.28 12.87
2018-06-30 2.69 0.10 0.96
2018-03-31 1.74 0.31 1.99
2017-12-31 1.17 0.10 2.03
2016-12-31 0.43 0.11 0.50
2015-12-31 0.27 0.10 0.33
  • creditshelf's level of debt (1.2%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if creditshelf's debt level has increased without past 5-year debt data.
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.

  • creditshelf has sufficient cash runway for more than 3 years based on current free cash flow.
  • Unable to confirm if creditshelf has at least 1 year of cash runway based on growing free cash flows without relevant data.
X
Financial health checks
We assess creditshelf'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. creditshelf 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.

CSQ Dividends

 What is creditshelf'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 creditshelf dividends.
If you bought €2,000 of creditshelf 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 creditshelf's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate creditshelf'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:CSQ 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
Europe Diversified Financial Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 3.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

DB:CSQ Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2019-12-31
2019-10-12

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

  • Unable to perform a dividend volatility check as creditshelf has not reported any payouts.
  • Unable to verify if creditshelf's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of creditshelf's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as creditshelf has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess creditshelf'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 creditshelf afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. creditshelf has a total score of 0/6, see the detailed checks below.


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

CSQ Management

 What is the CEO of creditshelf'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.
  • creditshelf has no CEO, or we have no data on them.
Management Team

Tim Thabe

TITLE
Co-Founder & MD

Daniel Bartsch

TITLE
Founding Partner & Member of Management Board

Fabian Brügmann

TITLE
Chief Financial Officer
TENURE
0.8 yrs

Mark Währisch

TITLE
MD, Member of Management Board & Chief Risk Officer

Gregor Heinrich

TITLE
Chief Technology Officer
TENURE
0.8 yrs

Birgit Hass

TITLE
Marketing & Communication Manager

Lukas Lang

TITLE
Head of Sales
Board of Directors

Rolf Elgeti

TITLE
Chairman of the Supervisory Board
AGE
43
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 creditshelf'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. creditshelf 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.

CSQ News

Simply Wall St News

CSQ Company Info

Description

creditshelf Aktiengesellschaft operates an online credit marketplace lending platform for small- and medium-sized enterprises in Germany. Its marketplace connects loan investors with loan borrowers. The company was founded in 2014 and is headquartered in Frankfurt, Germany.

Details
Name: creditshelf Aktiengesellschaft
CSQ
Exchange: DB
Founded: 2014
€75,881,250
1,331,250
Website: http://www.creditshelf.com
Address: creditshelf Aktiengesellschaft
Mainzer Landstrasse 33a,
Frankfurt,
Hessen, 60329,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA CSQ Ordinary Shares XETRA Trading Platform DE EUR 25. Jul 2018
DB CSQ Ordinary Shares Deutsche Boerse AG DE EUR 25. Jul 2018
Number of employees
Current staff
Staff numbers
41
creditshelf employees.
Industry
Specialized Finance
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/12 23:24
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/10/08
Last earnings filing: 2019/09/19
Last earnings reported: 2019/06/30
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.