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PEH Wertpapier

DB:PEH
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PEH
DB
€23M
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

PEH Wertpapier AG is a publicly owned investment manager. The last earnings update was 215 days ago. More info.


Add to Portfolio Compare Print
  • PEH Wertpapier is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • PEH Wertpapier has significant price volatility in the past 3 months.
PEH Share Price and Events
7 Day Returns
2.1%
DB:PEH
12.3%
DE Capital Markets
7.2%
DE Market
1 Year Returns
-39.4%
DB:PEH
-8.8%
DE Capital Markets
-17.5%
DE Market
PEH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PEH Wertpapier (PEH) 2.1% -14.4% -16.9% -39.4% -35.1% -36.4%
DE Capital Markets 12.3% -26.5% -16.8% -8.8% -29% -56.3%
DE Market 7.2% -22.3% -26.1% -17.5% -25.7% -29.1%
1 Year Return vs Industry and Market
  • PEH underperformed the Capital Markets industry which returned -8.8% over the past year.
  • PEH underperformed the Market in Germany which returned -17.5% over the past year.
Price Volatility
PEH
Industry
5yr Volatility vs Market

Value

 Is PEH Wertpapier 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 PEH Wertpapier 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 PEH Wertpapier.

DB:PEH 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
= €8.70 * 12.4%
€1.08
Book Value of Equity per Share Median Book Value from the past 5 years. €8.70
Discount Rate (Cost of Equity) See below 4.2%
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:PEH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.754 (1 + (1- 30%) (0.13%))
0.836
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.836 * 5.44%)
4.16%

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

The calculations below outline how an intrinsic value for PEH Wertpapier 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:PEH Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (12.4% – 4.16%) * €8.70)
€0.72
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €0.72 / (4.16% - -0.39%)
€15.85
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €8.70 + €15.85
€24.55
DB:PEH Discount to Share Price
Calculation Result
Value per share (EUR) From above. €24.55
Current discount Discount to share price of €14.30
= -1 x (€14.30 - €24.55) / €24.55
41.8%

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

Current Discount
Amount off the current price PEH Wertpapier is available for.
Intrinsic value
42%
Share price is €14.3 vs Future cash flow value of €24.55
Current Discount Checks
For PEH Wertpapier to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • PEH Wertpapier's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • PEH Wertpapier'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 PEH Wertpapier's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PEH Wertpapier's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:PEH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in EUR €-0.58
DB:PEH Share Price ** DB (2020-03-27) in EUR €14.3
Germany Capital Markets Industry PE Ratio Median Figure of 17 Publicly-Listed Capital Markets Companies 21.49x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.49x

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

** Primary Listing of PEH Wertpapier.

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

= DB:PEH Share Price ÷ EPS (both in EUR)

= 14.3 ÷ -0.58

-24.58x

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

  • PEH Wertpapier is loss making, we can't compare its value to the DE Capital Markets industry average.
  • PEH Wertpapier is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does PEH Wertpapier's expected growth come at a high price?
Raw Data
DB:PEH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -24.58x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Germany Capital Markets Industry PEG Ratio Median Figure of 7 Publicly-Listed Capital Markets Companies 1.49x
Germany Market PEG Ratio Median Figure of 252 Publicly-Listed Companies 1.22x

*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 PEH Wertpapier, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on PEH Wertpapier's assets?
Raw Data
DB:PEH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in EUR €10.29
DB:PEH Share Price * DB (2020-03-27) in EUR €14.3
Germany Capital Markets Industry PB Ratio Median Figure of 32 Publicly-Listed Capital Markets Companies 1.61x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.42x
DB:PEH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= DB:PEH Share Price ÷ Book Value per Share (both in EUR)

= 14.3 ÷ 10.29

1.39x

* Primary Listing of PEH Wertpapier.

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

  • PEH Wertpapier is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess PEH Wertpapier'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. PEH Wertpapier has a total score of 3/6, 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 PEH Wertpapier expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as PEH Wertpapier has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
41.2%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PEH Wertpapier expected to grow at an attractive rate?
  • Unable to compare PEH Wertpapier's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare PEH Wertpapier's earnings growth to the Germany market average as no estimate data is available.
  • Unable to compare PEH Wertpapier's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:PEH Future Growth Rates Data Sources
Data Point Source Value (per year)
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 41.2%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.2%

*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:PEH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (8 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:PEH Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-06-30 119 -1 -1
2019-03-31 120 0
2018-12-31 120 5 0
2018-09-30 146 4
2018-06-30 140 11 4
2018-03-31 133 4
2017-12-31 123 6 4
2017-09-30 85 0
2017-06-30 80 3 -1
2017-03-31 74 -1
2016-12-31 72 4 -1
2016-09-30 72 0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if PEH Wertpapier is high growth as no earnings estimate data is available.
  • Unable to determine if PEH Wertpapier 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:PEH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (8 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from PEH Wertpapier Company Filings, last reported 8 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PEH Past Financials Data
Date (Data in EUR Millions) EPS *
2019-06-30 -0.58
2019-03-31 -0.21
2018-12-31 0.24
2018-09-30
2018-06-30 2.30
2018-03-31 2.22
2017-12-31 2.17
2017-09-30
2017-06-30 -0.38
2017-03-31 -0.38
2016-12-31 -0.48
2016-09-30

*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 PEH Wertpapier will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether PEH Wertpapier is trading at PEH Wertpapier'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. PEH Wertpapier's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Diversified Financials companies here
  3. PEH Wertpapier's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess PEH Wertpapier'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.
PEH Wertpapier has a total score of 0/6, 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 PEH Wertpapier performed over the past 5 years?

  • PEH Wertpapier's last earnings update was 215 days ago.
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 PEH Wertpapier'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.
  • PEH Wertpapier does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare PEH Wertpapier's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare PEH Wertpapier's 1-year growth to the DE Capital Markets industry average as it is not currently profitable.
Earnings and Revenue History
PEH Wertpapier'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 PEH Wertpapier Company Filings, last reported 8 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PEH Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 118.51 -0.95 22.06
2019-03-31 120.03 -0.34 21.44
2018-12-31 120.46 0.40 20.66
2018-09-30 146.03 3.96 18.78
2018-06-30 139.55 3.76 18.10
2018-03-31 132.85 3.62 17.90
2017-12-31 122.72 3.54 17.31
2017-09-30 84.93 -0.20 16.90
2017-06-30 80.39 -0.63 16.55
2017-03-31 73.96 -0.62 15.92
2016-12-31 72.11 -0.78 16.03
2016-09-30 72.13 -0.02 15.72
2016-06-30 70.32 -0.14 16.74
2016-03-31 74.63 -0.42 16.82
2015-12-31 76.23 0.98 16.52
2015-09-30 67.07 3.46 16.41
2015-06-30 67.49 3.68 16.05
2015-03-31 68.15 3.81 16.46
2014-12-31 64.38 2.20 16.70
2014-09-30 68.53 1.69 17.13
2014-06-30 66.26 1.46 16.78
2014-03-31 60.70 1.09 16.38
2013-12-31 58.73 0.87 16.38
2013-09-30 55.04 -0.04 16.62
2013-06-30 52.44 -0.02 16.07
2013-03-31 48.11 -0.54 16.33

*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.
  • PEH Wertpapier has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • It is difficult to establish if PEH Wertpapier has efficiently used its assets last year compared to the DE Capital Markets industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if PEH Wertpapier 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 PEH Wertpapier'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.
PEH Wertpapier 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 PEH Wertpapier'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 PEH Wertpapier's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • PEH Wertpapier is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • PEH Wertpapier's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of PEH Wertpapier'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 not covered by short term assets, assets are -675.2x 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 PEH Wertpapier Company Filings, last reported 8 months ago.

DB:PEH Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 24.65 0.03 0.00
2019-03-31 24.65 0.03 0.00
2018-12-31 27.65 0.02 0.00
2018-09-30 25.37 0.00 0.00
2018-06-30 25.37 0.00 0.00
2018-03-31 17.67 0.11 0.00
2017-12-31 17.67 0.00 0.00
2017-09-30 14.42 0.00 1.12
2017-06-30 14.42 0.00 1.12
2017-03-31 16.71 0.15 0.00
2016-12-31 14.43 0.00 0.00
2016-09-30 18.27 0.00 0.60
2016-06-30 18.27 0.00 0.60
2016-03-31 19.91 0.19 0.04
2015-12-31 19.91 0.00 0.00
2015-09-30
2015-06-30 20.84 0.00 0.00
2015-03-31 20.79 0.28 0.00
2014-12-31 20.79 0.28 0.04
2014-09-30 20.79 0.28 0.04
2014-06-30 19.30 0.58 0.00
2014-03-31 18.60 0.00 0.00
2013-12-31 18.60 0.00 0.00
2013-09-30
2013-06-30 17.39 5.36 0.00
2013-03-31 17.61 0.71 0.00
  • PEH Wertpapier's level of debt (-0.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (3% vs -0.1% today).
  • Debt is well covered by operating cash flow (3801.2%, greater than 20% of total debt).
  • PEH Wertpapier has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess PEH Wertpapier'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. PEH Wertpapier 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 PEH Wertpapier'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
10.49%
Current annual income from PEH Wertpapier dividends.
If you bought €2,000 of PEH Wertpapier shares you are expected to receive €210 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?
  • PEH Wertpapier's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.68%).
  • PEH Wertpapier's dividend is above the markets top 25% of dividend payers in Germany (4.96%).
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:PEH 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
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.4%
Germany Market Average Dividend Yield Market Cap Weighted Average of 320 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

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

DB:PEH Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-07-05 1.500 8.163
2019-04-17 1.500 6.323
2018-04-24 1.100 4.119
2017-04-25 0.800 2.903
2016-04-29 1.200 5.702
2015-04-27 0.700 3.068
2014-04-22 0.300 1.505
2013-11-13 0.000 0.000
2013-08-28 0.000 0.000
2013-04-23 0.000 0.000
2012-04-30 0.050 0.327
2011-04-14 2.000 8.442
2010-03-01 1.700 6.008

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of PEH Wertpapier'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 PEH Wertpapier's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 PEH Wertpapier afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PEH Wertpapier has a total score of 2/6, 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 PEH Wertpapier'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
Martin Stürner
COMPENSATION €600,000
AGE 58
CEO Bio

Mr. Martin Stürner serves as the Chairman of the Management Board and Head of Finances, Controlling, Accounting & Controlling, Personnel, IR, Asset Management & Investments of PEH Wertpapier AG and serves as its Chief Executive Officer. Mr. Stürner serves as Chairman of the Supervisory Board at Capsensixx AG and has been its Member of the Supervisory Board since November 10, 2017. He serves as Managing Director of PEH Vermögensmanagement GmbH and Member of the Management Board of PEH Wertpapier AG Österreich. He served as Portfolio Manager of PEH Wertpapier AG. He served as a Portfolio Manager of Ideal Invest Sicav - Ideal Young Equities.

CEO Compensation
  • Martin's compensation has increased whilst company is loss making.
  • Martin's remuneration is higher than average for companies of similar size in Germany.
Management Team

Martin Stürner

TITLE
Chairman of the Management Board & CEO
COMPENSATION
€600K
AGE
58

Sven-Uwe Ulbrich

TITLE
Head of Organization
COMPENSATION
€340K
AGE
46
Board of Directors

Rudolf Locker

TITLE
Chairman of the Supervisory Board
AGE
71

Gregor Langer

TITLE
Vice Chairman of the Supervisory Board
AGE
56
TENURE
2.7 yrs

Hermann Wagner

TITLE
Member of Supervisory Board
AGE
63
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 PEH Wertpapier'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. PEH Wertpapier 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

Is PEH Wertpapier AG (FRA:PEH) Attractive At Its Current PE Ratio?

While PEH might seem like an attractive stock to buy, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions. … I will explain what the P/E ratio is as well as what you should look out for when using it … Breaking down the P/E ratio

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PEH Wertpapier AG (FRA:PEH): Dividend Is Coming In 2 Days, Should You Buy?

On the 03 July 2018, PEH Wertpapier AG (FRA:PEH) will be paying shareholders an upcoming dividend amount of €1.10 per share. … However, investors must have bought the company's stock before 29 June 2018 in order to qualify for the payment. … 5 checks you should use to assess a dividend stock

Simply Wall St -

Is PEH Wertpapier AG (FRA:PEH) A Good Dividend Stock?

Dividends can be underrated but they form a large part of investment returns, playing an important role in compounding returns in the long run. … Over the past 10 years, PEH Wertpapier AG (FRA:PEH) has returned an average of 3.00% per year to shareholders in terms of dividend yield. … Does PEH Wertpapier tick all the boxes of a great dividend stock?

Simply Wall St -

Does PEH Wertpapier AG's (FRA:PEH) PE Ratio Signal A Buying Opportunity?

It compares a stock’s price per share to the stock’s earnings per share. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for PEH Price per share = €28.2 Earnings per share = €2.17 ∴ Price-Earnings Ratio = €28.2 ÷ €2.17 = 13x The P/E ratio itself doesn’t tell you a lot; however, it becomes very insightful when you compare it with other similar companies. … We preferably want to compare the stock’s P/E ratio to the average of companies that have similar features to PEH, such as capital structure and profitability.

Simply Wall St -

What You Must Know About PEH Wertpapier AG's (FRA:PEH) Market Risks

A popular measure of market risk for a stock is its beta, and the market as a whole represents a beta value of one. … Check out our latest analysis for PEH Wertpapier An interpretation of PEH's beta PEH Wertpapier's beta of 0.31 indicates that the stock value will be less variable compared to the whole stock market. … PEH's beta implies it may be a stock that investors with high-beta portfolios might find relevant if they wanted to reduce their exposure to market risk, especially during times of downturns.

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Who Are The Major Shareholders Of PEH Wertpapier AG (FRA:PEH)?

Today, I will be analyzing PEH Wertpapier AG’s (DB:PEH) recent ownership structure, an important but not-so-popular subject among individual investors. … Private Company Ownership Potential investors in PEH should also look at another important group of investors: private companies, with a stake of 13.27%, who are primarily invested because of strategic and capital gain interests. … Thus, potential investors should look into these business relations and check how it can impact long-term shareholder returns.Next Steps: Institutional ownership in PEH is not at a level that would concern investors.

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Company Info

Description

PEH Wertpapier AG is a publicly owned investment manager. The firm also provides investment consultancy services. It provides its services to individual and institutional clients. The firm manages separate client focused equity, fixed income, and balanced portfolios. It launches and manages equity, fixed income, and balanced mutual funds for its clients. The firm also manages hedge funds for its clients. It invests in public equity and fixed income markets across the globe. The firm makes its fixed income investments in government bonds with an average duration of 1 to 2 years. It employs fundamental and quantitative research to make investments. The firm conducts in-house research to make investments. PEH Wertpapier AG was founded in 1981, and is based in Oberursel, Germany, with additional offices in Berlin, Hamburg, Munich, Reutlingen, Rosenheim, and Stuttgart in Germany, and Salzburg and Vienna in Austria.

Details
Name: PEH Wertpapier AG
PEH
Exchange: DB
Founded: 1981
€23,361,295
1,633,657
Website: http://www.peh.de
Address: PEH Wertpapier AG
Bettina 57-59,
Frankfurt am Main,
Hessen, 60325,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
DB PEH Ordinary Shares Deutsche Boerse AG DE EUR 19. Nov 1998
LSE 0O6G Ordinary Shares London Stock Exchange GB EUR 19. Nov 1998
Number of employees
Current staff
Staff numbers
120
PEH Wertpapier employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/28 20:39
End of day share price update: 2020/03/27 00:00
Last earnings filing: 2019/08/26
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.