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BHB Brauholding Bayern-Mitte

DB:B9B
Snowflake Description

Excellent balance sheet with questionable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
B9B
DB
€11M
Market Cap
  1. Home
  2. DE
  3. Food, Beverage & Tobacco
Company description

BHB Brauholding Bayern-Mitte AG engages in the brewery business in Germany. The last earnings update was 67 days ago. More info.


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B9B Share Price and Events
7 Day Returns
-0.6%
DB:B9B
-0.2%
DE Beverage
2.5%
DE Market
1 Year Returns
14%
DB:B9B
4.9%
DE Beverage
2.6%
DE Market
B9B Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
BHB Brauholding Bayern-Mitte (B9B) -0.6% 3.6% 5.6% 14% 20% 22.6%
DE Beverage -0.2% 2.3% -1.1% 4.9% 24.3% 68.1%
DE Market 2.5% 0.2% 1% 2.6% 7.8% 23.7%
1 Year Return vs Industry and Market
  • B9B outperformed the Beverage industry which returned 4.9% over the past year.
  • B9B outperformed the Market in Germany which returned 2.6% over the past year.

Value

 Is BHB Brauholding Bayern-Mitte 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 BHB Brauholding Bayern-Mitte 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 BHB Brauholding Bayern-Mitte.

DB:B9B Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5%
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:B9B
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Beverage Unlevered Beta Simply Wall St/ S&P Global 0.51
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.508 (1 + (1- 30%) (10.55%))
0.695
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.8 * 5.96%)
5%

Discounted Cash Flow Calculation for DB:B9B using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for BHB Brauholding Bayern-Mitte is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:B9B DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 5%)
2020 0.31 Analyst x1 0.30
2021 0.45 Analyst x1 0.41
2022 0.39 Analyst x1 0.34
2023 0.41 Analyst x1 0.34
2024 0.42 Est @ 3.29% 0.33
2025 0.43 Est @ 2.37% 0.32
2026 0.44 Est @ 1.73% 0.31
2027 0.45 Est @ 1.28% 0.30
2028 0.45 Est @ 0.96% 0.29
2029 0.45 Est @ 0.74% 0.28
Present value of next 10 years cash flows €3.00
DB:B9B DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €0.45 × (1 + 0.23%) ÷ (5% – 0.23%)
€9.55
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €9.55 ÷ (1 + 5%)10
€5.87
DB:B9B Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €3.00 + €5.87
€8.87
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €8.87 / 3.10
€2.86
DB:B9B Discount to Share Price
Calculation Result
Value per share (EUR) From above. €2.86
Current discount Discount to share price of €3.42
= -1 x (€3.42 - €2.86) / €2.86
-19.6%

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

  • The current share price of BHB Brauholding Bayern-Mitte 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 BHB Brauholding Bayern-Mitte's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are BHB Brauholding Bayern-Mitte's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:B9B PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in EUR €0.07
DB:B9B Share Price ** DB (2019-10-11) in EUR €3.42
Germany Beverage Industry PE Ratio Median Figure of 7 Publicly-Listed Beverage Companies 27.57x
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 BHB Brauholding Bayern-Mitte.

DB:B9B PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= DB:B9B Share Price ÷ EPS (both in EUR)

= 3.42 ÷ 0.07

46.26x

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

  • BHB Brauholding Bayern-Mitte is overvalued based on earnings compared to the DE Beverage industry average.
  • BHB Brauholding Bayern-Mitte is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does BHB Brauholding Bayern-Mitte's expected growth come at a high price?
Raw Data
DB:B9B PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 46.26x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
16.7%per year
Europe Beverage Industry PEG Ratio Median Figure of 31 Publicly-Listed Beverage Companies 2.84x
Germany Market PEG Ratio Median Figure of 264 Publicly-Listed Companies 1.38x

*Line of best fit is calculated by linear regression .

DB:B9B PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 46.26x ÷ 16.7%

2.76x

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

  • BHB Brauholding Bayern-Mitte is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on BHB Brauholding Bayern-Mitte's assets?
Raw Data
DB:B9B PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in EUR €3.55
DB:B9B Share Price * DB (2019-10-11) in EUR €3.42
Germany Beverage Industry PB Ratio Median Figure of 8 Publicly-Listed Beverage Companies 1.56x
Germany Market PB Ratio Median Figure of 597 Publicly-Listed Companies 1.74x
DB:B9B PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= DB:B9B Share Price ÷ Book Value per Share (both in EUR)

= 3.42 ÷ 3.55

0.96x

* Primary Listing of BHB Brauholding Bayern-Mitte.

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

  • BHB Brauholding Bayern-Mitte is good value based on assets compared to the DE Beverage industry average.
X
Value checks
We assess BHB Brauholding Bayern-Mitte'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 Beverage 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 Beverage industry average (and greater than 0)? (1 check)
  5. BHB Brauholding Bayern-Mitte 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 BHB Brauholding Bayern-Mitte expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
16.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is BHB Brauholding Bayern-Mitte expected to grow at an attractive rate?
  • BHB Brauholding Bayern-Mitte's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • BHB Brauholding Bayern-Mitte's earnings growth is expected to exceed the Germany market average.
  • BHB Brauholding Bayern-Mitte's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:B9B Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:B9B Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 16.7%
DB:B9B Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 1.8%
Germany Beverage Industry Earnings Growth Rate Market Cap Weighted Average -0.7%
Europe Beverage Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
DB:B9B Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:B9B Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 19 1
2022-12-31 18 1
2021-12-31 18 1
2020-12-31 18 0 1
2019-12-31 18 0 1
2019-10-12
DB:B9B Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-06-30 17 0
2019-03-31 17 0
2018-12-31 17 2 0
2018-09-30 17 0
2018-06-30 17 0
2018-03-31 17 0
2017-12-31 17 1 0
2017-09-30 16 0
2017-06-30 16 0
2017-03-31 16 0
2016-12-31 16 2 0
2016-09-30 16 0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • BHB Brauholding Bayern-Mitte's earnings are expected to grow by 16.7% yearly, however this is not considered high growth (20% yearly).
  • BHB Brauholding Bayern-Mitte's revenue is expected to grow by 1.8% 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:B9B Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

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

DB:B9B Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 0.10 0.10 0.10 1.00
2019-12-31 0.09 0.09 0.09 1.00
2019-10-12
DB:B9B Past Financials Data
Date (Data in EUR Millions) EPS *
2019-06-30 0.07
2019-03-31 0.07
2018-12-31 0.07
2018-09-30 0.08
2018-06-30 0.08
2018-03-31 0.08
2017-12-31 0.08
2017-09-30 0.08
2017-06-30 0.07
2017-03-31 0.07
2016-12-31 0.07
2016-09-30 0.08

*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 BHB Brauholding Bayern-Mitte will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess BHB Brauholding Bayern-Mitte'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.
BHB Brauholding Bayern-Mitte has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

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

Past Performance

  How has BHB Brauholding Bayern-Mitte 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 BHB Brauholding Bayern-Mitte's growth in the last year to its industry (Beverage).
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.
  • BHB Brauholding Bayern-Mitte's year on year earnings growth rate has been positive over the past 5 years.
  • BHB Brauholding Bayern-Mitte's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • BHB Brauholding Bayern-Mitte's 1-year earnings growth is negative, it can't be compared to the DE Beverage industry average.
Earnings and Revenue History
BHB Brauholding Bayern-Mitte'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 BHB Brauholding Bayern-Mitte Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:B9B 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 17.06 0.23 6.52
2019-03-31 16.99 0.22 6.44
2018-12-31 16.91 0.22 6.36
2018-09-30 16.78 0.24 6.07
2018-06-30 16.64 0.26 5.78
2018-03-31 16.57 0.25 5.76
2017-12-31 16.51 0.24 5.74
2017-09-30 16.44 0.23 5.95
2017-06-30 16.37 0.23 6.16
2017-03-31 16.35 0.22 6.14
2016-12-31 16.34 0.21 6.13
2016-09-30 16.28 0.24 6.09
2016-06-30 16.22 0.27 6.06
2016-03-31 16.31 0.29 6.06
2015-12-31 16.39 0.31 6.06
2015-09-30 16.41 0.15 6.14
2015-06-30 16.43 -0.01 6.22
2015-03-31 16.35 0.00 6.18
2014-12-31 16.28 0.01 6.15
2014-09-30 16.27 0.15 6.11
2014-06-30 16.26 0.29 6.06
2014-03-31 16.26 0.28 6.06
2013-12-31 16.25 0.26 6.06
2013-09-30 16.23 0.26 6.05
2013-06-30 16.21 0.25 6.05
2013-03-31 16.25 0.25 6.05
2012-12-31 16.30 0.25 6.06

*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.
  • BHB Brauholding Bayern-Mitte has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • BHB Brauholding Bayern-Mitte used its assets less efficiently than the DE Beverage industry average last year based on Return on Assets.
  • BHB Brauholding Bayern-Mitte has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess BHB Brauholding Bayern-Mitte'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 Beverage 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.
BHB Brauholding Bayern-Mitte has a total score of 2/6, 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 BHB Brauholding Bayern-Mitte'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 BHB Brauholding Bayern-Mitte's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • BHB Brauholding Bayern-Mitte is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • BHB Brauholding Bayern-Mitte's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of BHB Brauholding Bayern-Mitte'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.
  • Debt is covered by short term assets, assets are 4.4x 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 BHB Brauholding Bayern-Mitte Company Filings, last reported 3 months ago.

DB:B9B Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 11.01 1.12 0.25
2019-03-31 11.01 1.12 0.25
2018-12-31 10.84 0.43 0.81
2018-09-30 10.84 0.43 0.81
2018-06-30 10.97 0.77 0.52
2018-03-31 10.97 0.77 0.52
2017-12-31 10.81 0.51 0.81
2017-09-30 10.81 0.51 0.81
2017-06-30 10.89 0.93 0.47
2017-03-31 10.89 0.93 0.47
2016-12-31 10.76 0.33 0.83
2016-09-30 10.76 0.33 0.83
2016-06-30 10.85 0.82 0.61
2016-03-31 10.85 0.82 0.61
2015-12-31 10.74 0.36 1.03
2015-09-30 10.74 0.36 1.03
2015-06-30 10.76 1.02 0.77
2015-03-31 10.76 1.02 0.77
2014-12-31 10.62 0.68 0.69
2014-09-30 10.62 0.68 0.69
2014-06-30 10.96 0.59 0.45
2014-03-31 10.96 0.59 0.45
2013-12-31 10.79 0.00 0.87
2013-09-30 10.79 0.00 0.87
2013-06-30 7.98 0.00 0.50
2013-03-31 7.98 0.00 0.50
2012-12-31 7.84 0.00 1.14
  • BHB Brauholding Bayern-Mitte's level of debt (10.2%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (5.4% vs 10.2% today).
  • Debt is well covered by operating cash flow (206.4%, greater than 20% of total debt).
  • BHB Brauholding Bayern-Mitte earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess BHB Brauholding Bayern-Mitte'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. BHB Brauholding Bayern-Mitte has a total score of 5/6, 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 BHB Brauholding Bayern-Mitte'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
1.75%
Current annual income from BHB Brauholding Bayern-Mitte dividends. Estimated to be 1.75% next year.
If you bought €2,000 of BHB Brauholding Bayern-Mitte shares you are expected to receive €35 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?
  • BHB Brauholding Bayern-Mitte's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • BHB Brauholding Bayern-Mitte'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:B9B Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Germany Beverage Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 1.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

DB:B9B Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 0.06 1.00
2019-12-31 0.06 1.00
2019-10-12
DB:B9B Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-04-23 0.060 1.878
2018-04-24 0.060 2.014
2017-04-24 0.060 2.029
2016-04-18 0.060 2.157
2015-04-20 0.060 2.315
2014-04-14 0.060 2.161
2013-04-15 0.060 2.467
2012-04-16 0.060 2.513

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

  • Whilst dividend payments have been stable, BHB Brauholding Bayern-Mitte has been paying a dividend for less than 10 years.
  • BHB Brauholding Bayern-Mitte has only been paying a dividend for 7 years, and since then there has been no growth.
Current Payout to shareholders
What portion of BHB Brauholding Bayern-Mitte's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
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 BHB Brauholding Bayern-Mitte'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 BHB Brauholding Bayern-Mitte afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. BHB Brauholding Bayern-Mitte 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 BHB Brauholding Bayern-Mitte'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.
  • BHB Brauholding Bayern-Mitte has no CEO, or we have no data on them.
Management Team

Franz Katzenbogen

TITLE
Head of Finances
COMPENSATION
€97K
AGE
59

Gerhard Bonschab

TITLE
Head of Sales & Marketing and Member of the Management Board
COMPENSATION
€97K
AGE
58
TENURE
13.8 yrs
Board of Directors

Ludwig Schlosser

TITLE
Chairman of the Supervisory Board
COMPENSATION
€4K
AGE
65

Franz-Xaver Schmidbauer

TITLE
Vice Chairman of the Supervisory Board
COMPENSATION
€2K
AGE
76

Rupert Hackl

TITLE
Member of Supervisory Board
AGE
68
TENURE
0.8 yrs
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 BHB Brauholding Bayern-Mitte'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. BHB Brauholding Bayern-Mitte 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

Want To Invest In BHB Brauholding Bayern-Mitte AG (FRA:B9B)? Here's How It Performed Lately

Understanding how BHB Brauholding Bayern-Mitte AG (FRA:B9B) is performing as a company requires looking at more than just a years' earnings. … See our latest analysis for BHB Brauholding Bayern-Mitte How Did B9B's Recent Performance Stack Up Against Its Past? … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 13%, indicating the rate at which B9B is growing has slowed down.

Simply Wall St -

Why BHB Brauholding Bayern-Mitte AG's (FRA:B9B) High P/E Ratio Isn't Necessarily A Bad Thing

We'll apply a basic P/E ratio analysis to BHB Brauholding Bayern-Mitte AG's (FRA:B9B), to help you decide if the stock is worth further research. … See our latest analysis for BHB Brauholding Bayern-Mitte How Do I Calculate A Price To Earnings Ratio? … The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for BHB Brauholding Bayern-Mitte: P/E of 49.69 = €3.5 ÷ €0.070 (Based on the year to June 2019.) Is A High P/E Ratio Good?

Simply Wall St -

Calculating The Fair Value Of BHB Brauholding Bayern-Mitte AG (FRA:B9B)

In this article we are going to estimate the intrinsic value of BHB Brauholding Bayern-Mitte AG (FRA:B9B) by estimating the company's future cash flows and discounting them to their present value. … Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) forecast 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Levered FCF (€, Millions) €310.0k €450.0k €390.0k €410.0k €424.6k €435.5k €443.7k €449.8k €454.4k €458.0k Growth Rate Estimate Source Analyst x1 Analyst x1 Analyst x1 Analyst x1 Est @ 3.57% Est @ 2.57% Est @ 1.87% Est @ 1.37% Est @ 1.03% Est @ 0.79% Present Value (€, Millions) Discounted @ 5% €0.3 €0.4 €0.3 €0.3 €0.3 €0.3 €0.3 €0.3 €0.3 €0.3 ("Est" = FCF growth rate estimated by Simply Wall St) Present Value of 10-year Cash Flow (PVCF)= €3.2m After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … DB:B9B Intrinsic value, July 30th 2019 The assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows.

Simply Wall St -

Introducing BHB Brauholding Bayern-Mitte (FRA:B9B), A Stock That Climbed 19% In The Last Five Years

To wit, the BHB Brauholding Bayern-Mitte share price has climbed 19% in five years, easily topping the market return of 12% (ignoring dividends). … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … During five years of share price growth, BHB Brauholding Bayern-Mitte actually saw its EPS drop 2.5% per year.

Simply Wall St -

Is BHB Brauholding Bayern-Mitte (FRA:B9B) Using Too Much Debt?

We note that BHB Brauholding Bayern-Mitte AG (FRA:B9B) does have debt on its balance sheet. … BHB Brauholding Bayern-Mitte boasts net cash, so it's fair to say it does not have a heavy debt load! … BHB Brauholding Bayern-Mitte may have net cash on the balance sheet, but it is still interesting to look at how well the business converts its earnings before interest and tax (EBIT) to free cash flow, because that will influence both its need for, and its capacity to manage debt.

Simply Wall St -

BHB Brauholding Bayern-Mitte AG (FRA:B9B) Is Yielding 2.0% - But Is It A Buy?

With a 2.0% yield and a seven-year payment history, investors probably think BHB Brauholding Bayern-Mitte looks like a reliable dividend stock. … However, it's also important to assess if earnings per share (EPS) are growing. Growing EPS can help maintain or increase the purchasing power of the dividend over the long run. Over the past five years, it looks as though BHB Brauholding Bayern-Mitte's EPS have declined at around 2.5% a year. Declining earnings per share over a number of years is not a great sign for the dividend investor. Without some improvement, this does not bode well for the long term value of a company's dividend. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. … Earnings per share are down, and to our mind BHB Brauholding Bayern-Mitte has not been paying a dividend long enough to demonstrate its resilience across economic cycles.

Simply Wall St -

Should BHB Brauholding Bayern-Mitte AG (FRA:B9B) Focus On Improving This Fundamental Metric?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for BHB Brauholding Bayern-Mitte: 2.0% = €218k ÷ €11m (Based on the trailing twelve months to December 2018.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … How Does Debt Impact Return On Equity? … BHB Brauholding Bayern-Mitte's Debt And Its 2.0% ROE Although BHB Brauholding Bayern-Mitte does use a little debt, its debt to equity ratio of just 0.04 is very low.

Simply Wall St -

Why We’re Not Keen On BHB Brauholding Bayern-Mitte AG’s (FRA:B9B) 3.4% Return On Capital

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for BHB Brauholding Bayern-Mitte: 0.034 = €419k ÷ (€14m - €1.7m) (Based on the trailing twelve months to December 2018.) Therefore, BHB Brauholding Bayern-Mitte has an ROCE of 3.4%. … See our latest analysis for BHB Brauholding Bayern-Mitte Is BHB Brauholding Bayern-Mitte's ROCE Good? … Do BHB Brauholding Bayern-Mitte's Current Liabilities Skew Its ROCE?

Simply Wall St -

Was BHB Brauholding Bayern-Mitte AG's (FRA:B9B) Earnings Decline Part Of A Broader Industry Downturn?

After reading BHB Brauholding Bayern-Mitte AG's (FRA:B9B) most recent earnings announcement (31 December 2018), I found it useful to look back at how the company has performed in the past and compare this against the latest numbers. … B9B's trailing twelve-month earnings (from 31 December 2018) of €218k has. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 7.9%, indicating the rate at which B9B is growing has slowed down

Simply Wall St -

Should You Be Holding BHB Brauholding Bayern-Mitte AG (FRA:B9B)?

BHB Brauholding Bayern-Mitte AG (FRA:B9B) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … is a company with great financial health as well as a.

Simply Wall St -

Company Info

Description

BHB Brauholding Bayern-Mitte AG engages in the brewery business in Germany. It offers white beer, lower fermented beer specialties, and beer mixed drinks, as well as mineral water and non-alcoholic beverages, and thirst extinguishers. The company was founded in 1882 and is based in Ingolstadt, Germany.

Details
Name: BHB Brauholding Bayern-Mitte AG
B9B
Exchange: DB
Founded: 1882
€10,602,000
3,100,000
Website: http://www.bhb-ag.de
Address: BHB Brauholding Bayern-Mitte AG
Manchinger Str. 95,
Ingolstadt,
Bavaria, 85053,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
DB B9B Common Stock Deutsche Boerse AG DE EUR 08. Jul 2010
Number of employees
Current staff
Staff numbers
81
BHB Brauholding Bayern-Mitte employees.
Industry
Brewers
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/12 21:58
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/08/07
Last earnings filing: 2019/08/06
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.