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FORIS

DB:FRS
Snowflake Description

Flawless balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FRS
DB
€14M
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

FORIS AG provides financial services in Germany. The last earnings update was 59 days ago. More info.


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FRS Share Price and Events
7 Day Returns
0.7%
DB:FRS
5%
DE Diversified Financial
2.8%
DE Market
1 Year Returns
0%
DB:FRS
1.4%
DE Diversified Financial
3%
DE Market
FRS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
FORIS (FRS) 0.7% 0% 0.7% 0% -5.3% 9.1%
DE Diversified Financial 5% 7.8% -5% 1.4% 75.8% 333.7%
DE Market 2.8% 0.2% 1.3% 3% 8% 23.6%
1 Year Return vs Industry and Market
  • FRS underperformed the Diversified Financial industry which returned 1.4% over the past year.
  • FRS underperformed the Market in Germany which returned 3% over the past year.
Price Volatility
FRS
Industry
5yr Volatility vs Market
Related Companies

Value

 Is FORIS 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 FORIS 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 FORIS.

DB:FRS 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
= €4.01 * 3.5%
€0.14
Book Value of Equity per Share Median Book Value from the past 5 years. €4.01
Discount Rate (Cost of Equity) See below 5.1%
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:FRS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Diversified Financial Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.72 (1 + (1- 30%) (0%))
0.812
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.81
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.812 * 5.96%)
5.07%

Discounted Cash Flow Calculation for DB:FRS using Excess Returns Model Model

The calculations below outline how an intrinsic value for FORIS 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:FRS Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (3.5% – 5.07%) * €4.01)
€-0.06
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €-0.06 / (5.07% - 0.23%)
€-1.26
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €4.01 + €-1.26
€2.74
DB:FRS Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:FRS represents 0.9726x of XTRA:FRS
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.9726x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 2.74 x 0.9726
€2.67
Value per share (EUR) From above. €2.67
Current discount Discount to share price of €2.84
= -1 x (€2.84 - €2.67) / €2.67
-6.4%

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

  • The current share price of FORIS is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 FORIS's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are FORIS's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:FRS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in EUR €-0.57
XTRA:FRS Share Price ** XTRA (2019-10-11) in EUR €2.92
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 FORIS.

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

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

= 2.92 ÷ -0.57

-5.09x

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

  • FORIS is loss making, we can't compare its value to the DE Diversified Financial industry average.
  • FORIS is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does FORIS's expected growth come at a high price?
Raw Data
DB:FRS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -5.09x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
45.6%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 265 Publicly-Listed Companies 1.39x

*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 FORIS, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on FORIS's assets?
Raw Data
DB:FRS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in EUR €3.68
XTRA:FRS Share Price * XTRA (2019-10-11) in EUR €2.92
Germany Diversified Financial Industry PB Ratio Median Figure of 9 Publicly-Listed Diversified Financial Companies 3.77x
Germany Market PB Ratio Median Figure of 598 Publicly-Listed Companies 1.74x
DB:FRS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 2.92 ÷ 3.68

0.79x

* Primary Listing of FORIS.

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

  • FORIS is good value based on assets compared to the DE Diversified Financial industry average.
X
Value checks
We assess FORIS'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. FORIS 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 FORIS expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover FORIS, future earnings growth has been estimated based on fundamentals.
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
45.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is FORIS expected to grow at an attractive rate?
  • FORIS's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • FORIS's earnings growth is expected to exceed the Germany market average.
  • Unable to compare FORIS's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:FRS Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:FRS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 45.6%
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 5%

*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:FRS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:FRS Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-06-30 18 2 -3
2019-03-31 19 2 -3
2018-12-31 20 3 -3
2018-09-30 22 3 -1
2018-06-30 24 3 2
2018-03-31 22 2 1
2017-12-31 21 2 1
2017-09-30 20 1 2
2017-06-30 19 0 2
2017-03-31 19 -1 2
2016-12-31 18 -1 1
2016-09-30 18 -1 0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • FORIS's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if FORIS is high growth as no revenue estimate data is available.
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:FRS 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 0 Analyst Estimates (S&P Global) See Below

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

DB:FRS Past Financials Data
Date (Data in EUR Millions) EPS *
2019-06-30 -0.57
2019-03-31 -0.56
2018-12-31 -0.54
2018-09-30 -0.11
2018-06-30 0.33
2018-03-31 0.30
2017-12-31 0.27
2017-09-30 0.38
2017-06-30 0.49
2017-03-31 0.31
2016-12-31 0.14
2016-09-30 -0.07

*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.
  • Unable to establish if FORIS will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess FORIS'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.
FORIS has a total score of 3/6, 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 FORIS 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 FORIS'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.
  • FORIS does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare FORIS's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare FORIS's 1-year growth to the Europe Diversified Financial industry average as it is not currently profitable.
Earnings and Revenue History
FORIS'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 FORIS Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:FRS 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 18.37 -2.67 0.11
2019-03-31 19.38 -2.61 0.12
2018-12-31 20.38 -2.54 0.12
2018-09-30 21.97 -0.51 0.13
2018-06-30 23.56 1.51 0.13
2018-03-31 22.34 1.41 0.13
2017-12-31 21.12 1.31 0.13
2017-09-30 20.27 1.86 0.12
2017-06-30 19.42 2.41 0.12
2017-03-31 18.93 1.54 0.12
2016-12-31 18.45 0.66 0.12
2016-09-30 17.96 -0.34 0.12
2016-06-30 17.48 -1.35 0.12
2016-03-31 18.69 -0.15 0.12
2015-12-31 19.90 1.05 0.12
2015-09-30 19.79 1.20 0.12
2015-06-30 19.69 1.35 0.12
2015-03-31 18.41 0.93 0.12
2014-12-31 17.12 0.50 0.12
2014-09-30 19.63 1.61 0.12
2014-06-30 22.13 2.73 0.13
2014-03-31 22.35 3.18 0.13
2013-12-31 22.57 3.63 0.14
2013-09-30 19.86 2.34 0.14
2013-06-30 17.15 1.05 0.14
2013-03-31 16.48 0.86 0.14
2012-12-31 15.82 0.67 0.14

*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 FORIS has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if FORIS 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 FORIS 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 FORIS'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.
FORIS has a total score of 0/6, see the detailed checks below.

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

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

Health

 How is FORIS'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 FORIS's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • FORIS is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • FORIS has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of FORIS'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.
  • FORIS has no debt, it does not need to be covered by short term assets.
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 FORIS Company Filings, last reported 3 months ago.

DB:FRS Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 17.06 0.00 5.18
2019-03-31 17.06 0.00 5.18
2018-12-31 16.71 0.00 5.78
2018-09-30 16.71 0.00 5.78
2018-06-30 19.80 0.00 3.65
2018-03-31 19.80 0.00 3.65
2017-12-31 19.71 0.00 3.82
2017-09-30 19.71 0.00 3.82
2017-06-30 18.75 0.00 1.20
2017-03-31 18.75 0.00 1.20
2016-12-31 19.65 0.00 3.58
2016-09-30 19.65 0.00 3.58
2016-06-30 17.58 0.00 2.91
2016-03-31 17.58 0.00 2.91
2015-12-31 19.72 0.00 5.40
2015-09-30 19.72 0.00 5.40
2015-06-30 19.79 0.00 5.84
2015-03-31 19.79 0.00 5.84
2014-12-31 19.29 0.00 4.42
2014-09-30 19.29 0.00 4.42
2014-06-30 18.93 0.00 1.35
2014-03-31 18.93 0.00 1.35
2013-12-31 19.28 0.00 2.21
2013-09-30 19.28 0.00 2.21
2013-06-30 18.29 0.37 0.73
2013-03-31 18.29 0.37 0.73
2012-12-31 17.24 0.40 0.58
  • FORIS has no debt.
  • FORIS currently has no debt however we can't compare to 5 years ago as we have no data for that period.
  • FORIS has no debt, it does not need to be covered by operating cash flow.
  • FORIS has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess FORIS'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. FORIS has a total score of 6/6, 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 FORIS'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
3.42%
Current annual income from FORIS dividends.
If you bought €2,000 of FORIS shares you are expected to receive €68 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?
  • FORIS's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • FORIS's dividend is below the markets top 25% of dividend payers in Germany (3.86%).
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:FRS 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 0 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 0.7%
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:FRS Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-03-22 0.100 3.413
2017-05-03 0.100 3.461
2016-03-17 0.150 4.982
2015-03-16 0.100 2.988
2014-03-24 0.100 3.610

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

  • FORIS has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • FORIS has only been paying a dividend for 6 years, and since then there has been no growth.
Current Payout to shareholders
What portion of FORIS's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
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 FORIS'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 FORIS afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. FORIS has a total score of 1/6, see the detailed checks below.


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

Management

 What is the CEO of FORIS'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
Volker Knoop
CEO Bio

Mr. Volker Knoop serves as Chief Executive Officer at FORIS AG. He is Director of FORIS AG since September 2019. Previously, he was responsible for all legal and compliance matters at AlixPartners, an international management consultancy. During his nearly seven-year tenure based out of Paris and London and covering the entire EMEA region, Mr. Volker focused on commercial contracts, large-scale advisory and interim management projects, risk management and liability defense work. Before joining AlixPartners, he worked several years as an attorney in Munich, initially with Westpfahl & Spilker, a law firm specializing in complex litigation, later with international law firm Eversheds. His clients from various industries were primarily German and European mid-market players as well as European subsidiaries of large U.S. corporations. Volker’s expertise ranges from commercial and corporate law to product liability and insurance law. A significant portion of Volker’s work was to represent his clients in court proceedings across Germany. One of his main clients, Tyco International, chose him as secondee to serve as part of its European legal and compliance team and to manage all day-to-day legal work and dispute resolution for the group’s businesses in the DACH region. As part of his legal training, he worked for the German Consulate General and with international law firm Baker McKenzie in São Paulo. He is a member of the German-Brazilian Lawyers’ Association, trained as a specialized insurance law attorney and a certified bank clerk. Mr. Volker has studied law and dispute resolution in Kiel, New York and Los Angeles. He earned his PhD with a thesis on “mass torts in international private law”.

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

Volker Knoop

TITLE
CEO & Director

Stefan Pochert

TITLE
Head of Finance

Conny Leuschner

TITLE
Head of Marketing & Communication

Hanns-Ferdinand Müller

TITLE
Chief Strategy Officer & Director

Isabelle Fischer

TITLE
Head of Service - Shelf Companies

Andreas Dirksen

TITLE
Head of E-Commerce - Start Up Services
TENURE
0.1 yrs

Michael Korbik

TITLE
Controller
Board of Directors Tenure

Average tenure of the FORIS board of directors in years:

0.1
Average Tenure
  • The average tenure for the FORIS board of directors is less than 3 years, this suggests a new board.
Board of Directors

Christian Rollmann

TITLE
Chairman of Supervisory Board
COMPENSATION
€27K

Volker Knoop

TITLE
CEO & Director
TENURE
0.1 yrs

Olaf Wilcke

TITLE
Vice Chairman of the Supervisory Board
COMPENSATION
€18K
TENURE
10.3 yrs

Hanns-Ferdinand Müller

TITLE
Chief Strategy Officer & Director
TENURE
0.1 yrs

Christian Berner

TITLE
Member of the Supervisory Board
COMPENSATION
€18K
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 FORIS'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. FORIS 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

FORIS AG provides financial services in Germany. The company offers commercial litigation funding services and monetization of disputed claims, as well as involved in the establishing and selling of shelf companies. It also provides online solutions for establishing a legal entity; and services for start-ups. FORIS AG was founded in 1996 and is headquartered in Bonn, Germany.

Details
Name: FORIS AG
FRS
Exchange: DB
Founded: 1996
€13,533,540
4,634,774
Website: http://www.foris.com
Address: FORIS AG
Kurt-Schumacher-Str. 18-20,
Bonn,
North Rhine-Westphalia, 53113,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA FRS Bearer Shares XETRA Trading Platform DE EUR 19. Jul 1999
DB FRS Bearer Shares Deutsche Boerse AG DE EUR 19. Jul 1999
Number of employees
Current staff
Staff numbers
38
FORIS employees.
Industry
Specialized Finance
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 20:36
End of day share price update: 2019/10/11 00:00
Last earnings filing: 2019/08/15
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.