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Partners Group Holding

DB:P2H
Snowflake Description

Established dividend payer with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
P2H
DB
CHF20B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Partners Group Holding AG is a private equity firm specializing in direct, secondary, and primary investments across private equity, private real estate, private infrastructure, and private debt. The last earnings update was 15 days ago. More info.


Add to Portfolio Compare Print
  • Partners Group Holding is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
P2H Share Price and Events
7 Day Returns
0%
DB:P2H
-1%
DE Capital Markets
-0.6%
DE Market
1 Year Returns
0.5%
DB:P2H
-5%
DE Capital Markets
-5.5%
DE Market
P2H Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Partners Group Holding (P2H) 0% 0% 1.1% 0.5% 53.6% 222.1%
DE Capital Markets -1% 6.7% 7.4% -5% 15.5% -38%
DE Market -0.6% 4.9% 0.9% -5.5% 7.9% 14.2%
1 Year Return vs Industry and Market
  • P2H outperformed the Capital Markets industry which returned -5% over the past year.
  • P2H outperformed the Market in Germany which returned -5.5% over the past year.
Price Volatility
P2H
Industry
5yr Volatility vs Market

Value

 Is Partners Group 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 Partners Group 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 Partners Group Holding.

DB:P2H Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 8 analysts.
= Stable Book Value * Return on Equity
= CHF92.19 * 39.4%
CHF36.31
Book Value of Equity per Share Weighted future Book Value estimates from 9 analysts. CHF92.19
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:P2H
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.693 (1 + (1- 18%) (4.89%))
0.813
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% + (0.813 * 5.96%)
5.07%

Discounted Cash Flow Calculation for DB:P2H using Excess Returns Model Model

The calculations below outline how an intrinsic value for Partners Group 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:P2H Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (39.4% – 5.07%) * CHF92.19)
CHF31.64
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CHF31.64 / (5.07% - 0.23%)
CHF652.75
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CHF92.19 + CHF652.75
CHF744.94
DB:P2H Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:P2H represents 0.89688x of SWX:PGHN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.89688x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (CHF) x Listing Adjustment Factor
= CHF 744.94 x 0.89688
€668.12
Value per share (EUR) From above. €668.12
Current discount Discount to share price of €683.60
= -1 x (€683.60 - €668.12) / €668.12
-2.3%

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

  • The current share price of Partners Group Holding 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 Partners Group Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Partners Group Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:P2H PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in CHF CHF29.02
SWX:PGHN Share Price ** SWX (2019-06-28) in CHF CHF762.2
Germany Capital Markets Industry PE Ratio Median Figure of 17 Publicly-Listed Capital Markets Companies 25.86x
Germany Market PE Ratio Median Figure of 423 Publicly-Listed Companies 20.29x

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

** Primary Listing of Partners Group Holding.

DB:P2H PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SWX:PGHN Share Price ÷ EPS (both in CHF)

= 762.2 ÷ 29.02

26.27x

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

  • Partners Group Holding is overvalued based on earnings compared to the DE Capital Markets industry average.
  • Partners Group Holding is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Partners Group Holding's expected growth come at a high price?
Raw Data
DB:P2H PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 26.27x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
11.5%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 6 Publicly-Listed Capital Markets Companies 2.64x
Germany Market PEG Ratio Median Figure of 266 Publicly-Listed Companies 1.42x

*Line of best fit is calculated by linear regression .

DB:P2H PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 26.27x ÷ 11.5%

2.28x

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

  • Partners Group Holding is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Partners Group Holding's assets?
Raw Data
DB:P2H PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in CHF CHF72.26
SWX:PGHN Share Price * SWX (2019-06-28) in CHF CHF762.2
Germany Capital Markets Industry PB Ratio Median Figure of 35 Publicly-Listed Capital Markets Companies 1.98x
Germany Market PB Ratio Median Figure of 596 Publicly-Listed Companies 1.72x
DB:P2H PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SWX:PGHN Share Price ÷ Book Value per Share (both in CHF)

= 762.2 ÷ 72.26

10.55x

* Primary Listing of Partners Group Holding.

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

  • Partners Group Holding is overvalued based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess Partners Group 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 Capital Markets 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 Capital Markets industry average (and greater than 0)? (1 check)
  5. Partners Group Holding 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.

Future Performance

 How is Partners Group Holding expected to perform in the next 1 to 3 years based on estimates from 10 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
11.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Partners Group Holding expected to grow at an attractive rate?
  • Partners Group Holding's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Partners Group Holding's earnings growth is positive but not above the Germany market average.
  • Partners Group Holding's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:P2H Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:P2H Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 11.5%
DB:P2H Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 12.3%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 43.2%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 3.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*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:P2H Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:P2H Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 2,206 1,208 1
2021-12-31 1,831 987 1,021 6
2020-12-31 1,627 659 910 8
2019-12-31 1,455 275 822 7
2019-09-25
DB:P2H Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2019-06-30 1,346 217 772
2019-03-31 1,334 250 770
2018-12-31 1,322 284 769
2018-09-30 1,329 277 778
2018-06-30 1,335 270 787
2018-03-31 1,288 526 770
2017-12-31 1,242 781 752
2017-09-30 1,163 814 708
2017-06-30 1,085 846 664
2017-03-31 1,029 632 611
2016-12-31 973 419 558
2016-09-30 878 293 497

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Partners Group Holding's earnings are expected to grow by 11.5% yearly, however this is not considered high growth (20% yearly).
  • Partners Group Holding's revenue is expected to grow by 12.3% 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:P2H Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

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

DB:P2H Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 44.98 44.98 44.98 1.00
2021-12-31 37.93 40.24 36.10 5.00
2020-12-31 33.83 35.72 32.56 7.00
2019-12-31 30.67 31.19 30.02 7.00
2019-09-25
DB:P2H Past Financials Data
Date (Data in CHF Millions) EPS *
2019-06-30 29.02
2019-03-31 28.97
2018-12-31 28.91
2018-09-30 29.27
2018-06-30 29.62
2018-03-31 29.00
2017-12-31 28.37
2017-09-30 26.72
2017-06-30 25.08
2017-03-31 23.11
2016-12-31 21.15
2016-09-30 18.82

*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.
  • Partners Group Holding is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Partners Group 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 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.
Partners Group Holding 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 Partners Group 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 Partners Group Holding's growth in the last year to its industry (Capital Markets).
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.
  • Partners Group Holding's year on year earnings growth rate has been positive over the past 5 years.
  • Partners Group Holding's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Partners Group Holding's 1-year earnings growth is negative, it can't be compared to the DE Capital Markets industry average.
Earnings and Revenue History
Partners Group 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 Partners Group Holding Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:P2H Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 1,345.50 771.60 11.30
2019-03-31 1,333.80 770.45 11.30
2018-12-31 1,322.10 769.30 11.30
2018-09-30 1,328.65 778.25 11.35
2018-06-30 1,335.20 787.20 11.40
2018-03-31 1,288.35 769.75 11.40
2017-12-31 1,241.50 752.30 11.40
2017-09-30 1,163.21 708.05 0.33
2017-06-30 1,084.93 663.80 -10.74
2017-03-31 1,028.87 610.97 -0.17
2016-12-31 972.82 558.14 10.40
2016-09-30 878.46 496.99 26.15
2016-06-30 784.10 435.85 41.90
2016-03-31 701.35 415.89 42.03
2015-12-31 618.60 395.93 42.16
2015-09-30 596.41 396.06 40.91
2015-06-30 574.23 396.18 39.65
2015-03-31 574.01 385.70 38.04
2014-12-31 573.79 375.22 36.43
2014-09-30 563.67 364.32 36.41
2014-06-30 553.56 353.41 36.40
2014-03-31 520.99 335.20 35.23
2013-12-31 488.43 317.00 34.06
2013-09-30 476.34 305.01 33.13
2013-06-30 464.26 293.02 32.20
2013-03-31 459.64 275.01 31.23
2012-12-31 455.01 257.00 30.25
2012-09-30 417.78 235.59 28.92

*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.
  • Partners Group Holding made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%).
  • Partners Group Holding used its assets more efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • Partners Group Holding's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Partners Group 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 Capital Markets 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.
Partners Group Holding 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 Partners Group 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 Partners Group Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Partners Group Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Partners Group Holding's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Partners Group 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 2.6x 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 Partners Group Holding Company Filings, last reported 2 months ago.

DB:P2H Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 1,918.70 918.60 282.90
2019-03-31 1,918.70 918.60 282.90
2018-12-31 1,967.90 299.40 412.20
2018-09-30 1,967.90 299.40 412.20
2018-06-30 1,793.90 299.30 280.10
2018-03-31 1,793.90 299.30 280.10
2017-12-31 1,955.80 299.20 852.30
2017-09-30 1,955.80 299.20 852.30
2017-06-30 1,468.71 299.21 514.27
2017-03-31 1,468.71 299.21 514.27
2016-12-31 1,540.77 0.00 218.68
2016-09-30 1,540.77 0.00 218.68
2016-06-30 1,201.16 250.00 69.15
2016-03-31 1,201.16 250.00 69.15
2015-12-31 1,224.01 95.00 175.34
2015-09-30 1,224.01 95.00 175.34
2015-06-30 1,092.25 10.00 64.03
2015-03-31 1,092.25 10.00 64.03
2014-12-31 1,103.39 0.00 210.51
2014-09-30 1,103.39 0.00 210.51
2014-06-30 860.42 200.00 86.76
2014-03-31 860.42 200.00 86.76
2013-12-31 856.82 60.00 72.96
2013-09-30 856.82 60.00 72.96
2013-06-30 709.58 206.48 49.49
2013-03-31 709.58 206.48 49.49
2012-12-31 697.81 0.00 238.79
2012-09-30 695.56 0.00 238.79
  • Partners Group Holding's level of debt (47.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (22.9% vs 47.9% today).
  • Debt is well covered by operating cash flow (23.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 456.6x coverage).
X
Financial health checks
We assess Partners Group 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. Partners Group Holding 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.

Dividends

 What is Partners Group 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
2.89%
Current annual income from Partners Group Holding dividends. Estimated to be 3.45% next year.
If you bought €2,000 of Partners Group Holding shares you are expected to receive €58 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?
  • Partners Group Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.4%).
  • Partners Group Holding's dividend is below the markets top 25% of dividend payers in Germany (3.93%).
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:P2H 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 10 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 17 Stocks 2.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 335 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
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:P2H Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 33.09 1.00
2021-12-31 28.82 9.00
2020-12-31 26.06 11.00
2019-12-31 23.54 10.00
2019-09-25
DB:P2H Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2019-03-19 22.000 2.907
2018-03-20 19.000 2.671
2017-03-21 15.000 2.358
2016-03-22 10.500 2.292
2015-03-24 8.500 2.605
2014-03-25 7.250 2.871
2013-03-19 6.250 2.669
2012-03-13 5.500 2.941
2011-04-13 5.000 3.179
2010-04-13 4.500 2.873
2009-03-02 4.250 3.848

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 Partners Group Holding's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.3x coverage).
X
Income/ dividend checks
We assess Partners Group 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 Partners Group Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Partners Group Holding 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 Partners Group 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
André Frei
COMPENSATION CHF5,134,000
AGE 43
TENURE AS CEO 6.7 years
CEO Bio

Mr. André Frei, CFA, serves as the Partner and Co-Chairman of Executive Board at Partners Group Holding AG and has been its Co-Chief Executive Officer since 2013.. Mr. Frei previously was the Chief Risk Officer from 2008 to 2013 and the Head of the Client Services Business Department. He joined Partners Group in 2000. He is also associated at Eidgenössische Technische Hochschule Zürich. Prior to this, Mr. Frei worked at the Swiss Federal Institute of Technology at the Institute for Operations Research. He has 18 years of industry experience. Mr. Frei holds the C.F.A. designation. He received a Master's degree in Mathematics from the Swiss Federal Institute of Technology in Zurich, with a specialization in Finance and Insurance Mathematics.

CEO Compensation
  • André's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • André's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

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

2.2
Average Tenure
52.5
Average Age
  • The tenure for the Partners Group Holding management team is about average.
Management Team

Steffen Meister

TITLE
Executive Chairman of the Board
COMPENSATION
CHF2M
AGE
48

André Frei

TITLE
Partner
COMPENSATION
CHF5M
AGE
43
TENURE
6.7 yrs

David Layton

TITLE
Co-CEO, Partner & Member of Global Executive Board & Head of Private Equity
COMPENSATION
CHF6M
AGE
37
TENURE
0.7 yrs

Marcel Erni

TITLE
Partner
COMPENSATION
CHF1M
AGE
54
TENURE
23.7 yrs

Fredy Gantner

TITLE
Co-Founder
COMPENSATION
CHF1M
AGE
51
TENURE
23.7 yrs

Christoph Rubeli

TITLE
Partner and Co-Head of Operating Directors & Entrepreneurial Governance
COMPENSATION
CHF5M
AGE
57

Urs Wietlisbach

TITLE
Co-Founder & Director
COMPENSATION
CHF1M
AGE
58

Charles Dallara

TITLE
Advisory Partner
COMPENSATION
CHF775K
AGE
70
TENURE
0.3 yrs

Philip Sauer

TITLE
Chief Financial Officer
TENURE
2.2 yrs

Manuel Ottinger

TITLE
Co-Chief Financial Officer
TENURE
2.2 yrs
Board of Directors Tenure

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

3.7
Average Tenure
55
Average Age
  • The tenure for the Partners Group Holding board of directors is about average.
Board of Directors

Steffen Meister

TITLE
Executive Chairman of the Board
COMPENSATION
CHF2M
AGE
48
TENURE
1.3 yrs

Eric Strutz

TITLE
Vice Chairman
COMPENSATION
CHF156K
AGE
55
TENURE
0.7 yrs

Marcel Erni

TITLE
Partner
COMPENSATION
CHF1M
AGE
54

Fredy Gantner

TITLE
Co-Founder
COMPENSATION
CHF1M
AGE
51
TENURE
22.7 yrs

Kevin Lu

TITLE
Partner of Chairman of Asia
AGE
45

Patrick Ward

TITLE
Independent Director
COMPENSATION
CHF573K
AGE
66

Urs Wietlisbach

TITLE
Co-Founder & Director
COMPENSATION
CHF1M
AGE
58

Grace Del Rosario-Castaño

TITLE
Director
COMPENSATION
CHF156K
AGE
55
TENURE
4.3 yrs

Michelle Felman

TITLE
Director
COMPENSATION
CHF156K
AGE
56
TENURE
3.7 yrs

Anil Gupta

TITLE
Advisory Board Member
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 Partners Group 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. Partners Group 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

Partners Group Holding AG is a private equity firm specializing in direct, secondary, and primary investments across private equity, private real estate, private infrastructure, and private debt. The firm also makes fund of funds investments. It seeks to invest in distressed, special situations, later stage, mature, early venture, mid venture, late venture, industry consolidation, buyouts, recapitalizations, emerging growth, and seed capital. For direct private equity investments, the firm invests directly into healthcare, consumer, media & telecommunications, education, information technology, industrials, infrastructure/energy & utilities, financial and business services and real estate operating companies. For its private real estate direct investment practice, it focuses on seeking out properties globally. It also makes investments in private real estate secondaries and primaries and focuses on distressed assets in United States, Europe, and Japan. Under private debt, the firm provides senior debt financing, mezzanine financing, alongside secondaries and primaries, and also participates in add on acquisitions. It seeks to invest in middle market in Americas, Europe, and Asia. In energy infrastructure, the firm seeks to invest in the areas of midstream, power generation, gas transportation, gas export infrastructure, renewable energy including wind and solar energy. The firm seeks to invest globally with a focus on South Africa, China, India, Philippines, Austria, France, Germany, Switzerland, Russia, Brazil, and Chile. It seems to invest between €500,000 ($685,010) and €100 million ($137 million) in equity investment in companies with enterprise value between €100 million ($137 million) to €2 billion ($2740 million). The firm is a value-add investor targeting majority and minority stake in its investee companies. While investing in funds, it invests in venture capital, mezzanine, private equity, real estate, distressed, turnaround, and secondary funds. Partners Group Holding AG was founded in 1996 and is based in Baar, Switzerland with additional offices across North America, South America, Europe, Australia, and Asia.

Details
Name: Partners Group Holding AG
P2H
Exchange: DB
Founded: 1996
CHF18,662,018,588
26,552,312
Website: http://www.partnersgroup.com/en/
Address: Partners Group Holding AG
Zugerstrasse 57,
Baar,
Zug, 6341,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX PGHN Registered Shares SIX Swiss Exchange CH CHF 24. Mar 2006
OTCPK PGPH.F Registered Shares Pink Sheets LLC US USD 24. Mar 2006
DB P2H Registered Shares Deutsche Boerse AG DE EUR 24. Mar 2006
LSE 0QOQ Registered Shares London Stock Exchange GB CHF 24. Mar 2006
BMV PGHN N Registered Shares Bolsa Mexicana de Valores MX MXN 24. Mar 2006
Number of employees
Current staff
Staff numbers
1,326
Partners Group Holding employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/25 21:04
End of day share price update: 2019/06/28 00:00
Last estimates confirmation: 2019/09/20
Last earnings filing: 2019/09/10
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.