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Ascom Holding

DB:AH2N
Snowflake Description

Excellent balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AH2N
DB
CHF381M
Market Cap
  1. Home
  2. DE
  3. Healthcare
Company description

Ascom Holding AG, together with its subsidiaries, provides healthcare ICT and mobile workflow solutions worldwide. The last earnings update was 42 days ago. More info.


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AH2N Share Price and Events
7 Day Returns
0%
DB:AH2N
7%
DE Healthcare Services
-0.6%
DE Market
1 Year Returns
-33.7%
DB:AH2N
-2%
DE Healthcare Services
-5.5%
DE Market
AH2N Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ascom Holding (AH2N) 0% 0% 0.7% -33.7% -30.5% 2.1%
DE Healthcare Services 7% 4.2% -18.2% -2% 37.9% 164.8%
DE Market -0.6% 4.9% 0.9% -5.5% 7.9% 14.2%
1 Year Return vs Industry and Market
  • AH2N underperformed the Healthcare Services industry which returned -2% over the past year.
  • AH2N underperformed the Market in Germany which returned -5.5% over the past year.
Price Volatility
AH2N
Industry
5yr Volatility vs Market
Related Companies

AH2N Value

 Is Ascom 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 Ascom 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 Ascom Holding.

DB:AH2N Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.6%
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:AH2N
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Healthcare Services Unlevered Beta Simply Wall St/ S&P Global 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.047 (1 + (1- 18%) (6.56%))
1.069
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.07
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.069 * 5.96%)
6.6%

Discounted Cash Flow Calculation for DB:AH2N using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Ascom Holding 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:AH2N DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CHF, Millions) Source Present Value
Discounted (@ 6.6%)
2020 13.70 Analyst x2 12.85
2021 19.25 Analyst x2 16.94
2022 24.00 Analyst x1 19.81
2023 27.00 Analyst x1 20.91
2024 29.07 Est @ 7.65% 21.12
2025 30.64 Est @ 5.42% 20.88
2026 31.83 Est @ 3.86% 20.35
2027 32.71 Est @ 2.77% 19.62
2028 33.37 Est @ 2.01% 18.77
2029 33.86 Est @ 1.48% 17.87
Present value of next 10 years cash flows CHF189.00
DB:AH2N DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CHF33.86 × (1 + 0.23%) ÷ (6.6% – 0.23%)
CHF532.65
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CHF532.65 ÷ (1 + 6.6%)10
CHF281.13
DB:AH2N Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CHF189.00 + CHF281.13
CHF470.13
Equity Value per Share
(CHF)
= Total value / Shares Outstanding
= CHF470.13 / 35.96
CHF13.07
DB:AH2N Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:AH2N represents 1.06415x of SWX:ASCN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.06415x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (CHF) x Listing Adjustment Factor
= CHF 13.07 x 1.06415
€13.91
Value per share (EUR) From above. €13.91
Current discount Discount to share price of €11.28
= -1 x (€11.28 - €13.91) / €13.91
18.9%

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

Current Discount
Amount off the current price Ascom Holding is available for.
Intrinsic value
19%
Share price is €11.28 vs Future cash flow value of €13.91
Current Discount Checks
For Ascom Holding to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Ascom Holding's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Ascom Holding's share price is below the future cash flow value, but not 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 Ascom Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ascom Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:AH2N PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in CHF CHF0.62
SWX:ASCN Share Price ** SWX (2019-06-28) in CHF CHF10.6
Germany Healthcare Services Industry PE Ratio Median Figure of 6 Publicly-Listed Healthcare Services Companies 13.29x
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 Ascom Holding.

DB:AH2N PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 10.6 ÷ 0.62

16.97x

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

  • Ascom Holding is overvalued based on earnings compared to the DE Healthcare Services industry average.
  • Ascom Holding is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Ascom Holding's expected growth come at a high price?
Raw Data
DB:AH2N PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 16.97x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
6%per year
Europe Healthcare Services Industry PEG Ratio Median Figure of 14 Publicly-Listed Healthcare Services Companies 1.88x
Germany Market PEG Ratio Median Figure of 266 Publicly-Listed Companies 1.42x

*Line of best fit is calculated by linear regression .

DB:AH2N PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 16.97x ÷ 6%

2.83x

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

  • Ascom Holding is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Ascom Holding's assets?
Raw Data
DB:AH2N PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in CHF CHF1.95
SWX:ASCN Share Price * SWX (2019-06-28) in CHF CHF10.6
Germany Healthcare Services Industry PB Ratio Median Figure of 8 Publicly-Listed Healthcare Services Companies 1.96x
Germany Market PB Ratio Median Figure of 596 Publicly-Listed Companies 1.72x
DB:AH2N PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 10.6 ÷ 1.95

5.45x

* Primary Listing of Ascom Holding.

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

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

AH2N Future Performance

 How is Ascom Holding expected to perform in the next 1 to 3 years based on estimates from 5 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
6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ascom Holding expected to grow at an attractive rate?
  • Ascom Holding's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Ascom Holding's earnings growth is positive but not above the Germany market average.
  • Ascom Holding's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:AH2N Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:AH2N Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 6%
DB:AH2N Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 3.1%
Germany Healthcare Services Industry Earnings Growth Rate Market Cap Weighted Average 11.6%
Europe Healthcare Services Industry Revenue Growth Rate Market Cap Weighted Average 8.9%
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:AH2N Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:AH2N Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 338 39 2
2022-12-31 335 37 2
2021-12-31 329 33 23 5
2020-12-31 312 28 17 5
2019-12-31 301 24 19 5
2019-09-25
DB:AH2N Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2019-06-30 309 11 23
2019-03-31 314 16 22
2018-12-31 319 20 21
2018-09-30 316 19 23
2018-06-30 313 18 25
2018-03-31 312 17 25
2017-12-31 310 16 26
2017-09-30 313 17 -54
2017-06-30 316 18 -134
2017-03-31 335 12 -140
2016-12-31 354 6 -146
2016-09-30 372 10 -69

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Ascom Holding's earnings are expected to grow by 6% yearly, however this is not considered high growth (20% yearly).
  • Ascom Holding's revenue is expected to grow by 3.1% 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:AH2N 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 5 Analyst Estimates (S&P Global) See Below

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

DB:AH2N Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.64 0.67 0.58 5.00
2020-12-31 0.48 0.58 0.37 5.00
2019-12-31 0.50 0.68 0.36 4.00
2019-09-25
DB:AH2N Past Financials Data
Date (Data in CHF Millions) EPS *
2019-06-30 0.62
2019-03-31 0.61
2018-12-31 0.60
2018-09-30 0.64
2018-06-30 0.69
2018-03-31 0.71
2017-12-31 0.72
2017-09-30 -1.48
2017-06-30 -3.64
2017-03-31 -3.85
2016-12-31 -4.07
2016-09-30 -1.95

*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.
  • Ascom Holding is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Ascom 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 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.
Ascom Holding 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.

AH2N Past Performance

  How has Ascom 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 Ascom Holding's growth in the last year to its industry (Healthcare Services).
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.
  • Ascom Holding's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Ascom Holding's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Ascom Holding's 1-year earnings growth is negative, it can't be compared to the DE Healthcare Services industry average.
Earnings and Revenue History
Ascom 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 Ascom Holding Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:AH2N Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 308.60 22.50 98.00 31.70
2019-03-31 313.55 21.95 97.90 32.05
2018-12-31 318.50 21.40 97.80 32.40
2018-09-30 315.95 23.05 98.65 32.10
2018-06-30 313.40 24.70 99.50 31.80
2018-03-31 311.55 25.30 98.05 30.45
2017-12-31 309.70 25.90 96.60 29.10
2017-09-30 312.95 -53.80 104.00 30.40
2017-06-30 316.20 -133.50 111.40 31.70
2017-03-31 335.25 -139.60 120.65 35.95
2016-12-31 354.30 -145.70 129.90 40.20
2016-09-30 372.40 -69.20 129.65 41.50
2016-06-30 390.50 7.30 129.40 42.80
2016-03-31 400.65 15.80 129.35 42.75
2015-12-31 410.80 24.30 129.30 42.70
2015-09-30 423.70 32.50 130.25 42.00
2015-06-30 436.60 40.70 131.20 41.30
2015-03-31 437.15 39.10 130.65 40.90
2014-12-31 437.70 37.50 130.10 40.50
2014-09-30 437.50 34.05 128.95 39.70
2014-06-30 437.30 30.60 127.80 38.90
2014-03-31 448.50 33.75 128.55 40.20
2013-12-31 459.70 36.90 129.30 41.50
2013-09-30 460.60 35.40 129.50 45.10
2013-06-30 461.50 33.90 129.70 48.70
2013-03-31 455.65 26.20 130.60 49.25
2012-12-31 449.80 18.50 131.50 49.80
2012-09-30 443.65 20.95 132.40 47.55

*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.
  • Ascom Holding has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Ascom Holding used its assets less efficiently than the DE Healthcare Services industry average last year based on Return on Assets.
  • Ascom Holding has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Ascom 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 Healthcare Services 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.
Ascom Holding 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.

AH2N Health

 How is Ascom 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 Ascom Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ascom Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Ascom Holding's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Ascom 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 5.1x 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 Ascom Holding Company Filings, last reported 2 months ago.

DB:AH2N Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 70.00 25.00 14.20
2019-03-31 70.00 25.00 14.20
2018-12-31 83.20 20.00 21.20
2018-09-30 83.20 20.00 21.20
2018-06-30 67.40 24.00 25.40
2018-03-31 67.40 24.00 25.40
2017-12-31 83.10 18.00 30.30
2017-09-30 83.10 18.00 30.30
2017-06-30 60.00 25.10 36.20
2017-03-31 60.00 25.10 36.20
2016-12-31 80.90 10.20 34.30
2016-09-30 80.90 10.20 34.30
2016-06-30 93.30 26.20 33.60
2016-03-31 93.30 26.20 33.60
2015-12-31 116.70 20.10 57.40
2015-09-30 116.70 20.10 57.40
2015-06-30 215.00 15.20 39.70
2015-03-31 215.00 15.20 39.70
2014-12-31 107.90 23.10 50.20
2014-09-30 107.90 23.10 50.20
2014-06-30 217.80 47.50 52.90
2014-03-31 217.80 47.50 52.90
2013-12-31 246.40 61.10 58.20
2013-09-30 246.40 61.10 58.20
2013-06-30 199.30 77.00 56.20
2013-03-31 199.30 77.00 56.20
2012-12-31 166.80 104.40 63.10
2012-09-30 223.70 104.40 63.10
  • Ascom Holding's level of debt (35.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (21.8% vs 35.7% today).
  • Debt is well covered by operating cash flow (44.4%, greater than 20% of total debt).
  • Ascom Holding earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Ascom 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. Ascom Holding 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.

AH2N Dividends

 What is Ascom 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
4.25%
Current annual income from Ascom Holding dividends. Estimated to be 3.95% next year.
If you bought €2,000 of Ascom Holding shares you are expected to receive €85 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?
  • Ascom Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.4%).
  • Ascom Holding's dividend is above 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:AH2N 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 5 Analyst Estimates (S&P Global) See Below
Europe Healthcare Services Industry Average Dividend Yield Market Cap Weighted Average of 11 Stocks 1.7%
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:AH2N Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.48 5.00
2020-12-31 0.41 5.00
2019-12-31 0.37 5.00
2019-09-25
DB:AH2N Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2019-03-07 0.450 3.678
2018-03-01 0.450 2.707
2017-03-09 0.800 3.878
2016-03-09 0.450 2.681
2015-03-11 0.450 2.652
2014-03-05 0.400 2.723
2013-03-20 0.350 2.641
2012-03-15 0.250 3.071
2012-01-16 0.250 2.714
2011-03-09 0.250 2.403

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

  • Ascom Holding has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Ascom Holding only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Ascom Holding's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x 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 Ascom 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 Ascom Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ascom Holding has a total score of 4/6, see the detailed checks below.


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

AH2N Management

 What is the CEO of Ascom 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
Jeannine Pilloud
AGE 55
TENURE AS CEO 0.7 years
CEO Bio

Ms. Jeannine Pilloud is Chairperson at Ascom Holding AG since April 10, 2019 and has been its Chief Executive officer since August 2019. Ms. Pilloud served as Acting Chief Executive Officer at Ascom Holding AG since 2019 until August 2019. She has been Head of e-Service unit of Bon Appetit Group Ltd. since 2001. Ms. Pilloud has been a Member of the Supervisory Board at Schaltbau Holding AG since June 7, 2018. Ms. Pilloud served as the Head of Passenger Division of Swiss Federal Railways SBB since April 1, 2011 and served as Member of The Management Board. She served as Head - E-services at REWE Switzerland AG. She spent the previous seven years with IBM Switzerland, where she was responsible for the IT Projects business and the Learning Services unit. She serves as a Director of STC Switzerland Travel Centre AG. Ms. Pilloud holds a degree in architecture from the Federal Institute of Technology, a lic. phil. I and an MBA from Insead.

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

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

1.7
Average Tenure
54
Average Age
  • The average tenure for the Ascom Holding management team is less than 2 years, this suggests a new team.
Management Team

Claes Ödman

TITLE
COO & Member of the Executive Board
COMPENSATION
CHF406K
AGE
54
TENURE
8.3 yrs

Francis Schmeer

TITLE
Chief Sales & Marketing Officer and Member of the Executive Board
COMPENSATION
CHF431K
AGE
47
TENURE
5 yrs

Jeannine Pilloud

TITLE
Chairperson of the Board & CEO
AGE
55
TENURE
0.7 yrs

Dominik Maurer

TITLE
Member of Executive Board
TENURE
0.7 yrs

André Neu

TITLE
Chief Technology Officer
TENURE
1.7 yrs

Daniel Lack

TITLE
Company Secretary and Senior VP of Legal
Board of Directors Tenure

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

4.5
Average Tenure
59
Average Age
  • The tenure for the Ascom Holding board of directors is about average.
Board of Directors

Jeannine Pilloud

TITLE
Chairperson of the Board & CEO
AGE
55
TENURE
0.4 yrs

Valentin Rueda

TITLE
Director
AGE
63
TENURE
3.7 yrs

Jürg Fedier

TITLE
Director
AGE
64
TENURE
2.4 yrs

Andreas Umbach

TITLE
Director
AGE
56
TENURE
9.4 yrs

Christina Stercken

TITLE
Director
AGE
61
TENURE
5.4 yrs

Harald Deutsch

TITLE
Director
AGE
57
TENURE
5.7 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 Ascom 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. Ascom 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.

AH2N News

Simply Wall St News

AH2N Company Info

Description

Ascom Holding AG, together with its subsidiaries, provides healthcare ICT and mobile workflow solutions worldwide. It offers application and management software, smartphone applications, and clinical and system integration solutions, as well as mobile devices, and wireless paging and IP-DECT infrastructures. The company also provides solutions for hospitals, senior care, police stations, courthouse and administrative buildings, retail stores, and automotive, manufacturing, and hospitality industries, as well as for psychiatric and correctional facilities. Ascom Holding AG is headquartered in Baar, Switzerland.

Details
Name: Ascom Holding AG
AH2N
Exchange: DB
Founded:
CHF351,508,397
35,961,890
Website: http://www.ascom.com
Address: Ascom Holding AG
Zugerstrasse 32,
Baar,
Zug, 6340,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX ASCN Registered Shares SIX Swiss Exchange CH CHF 02. Jan 1992
OTCPK ACML.F Registered Shares Pink Sheets LLC US USD 02. Jan 1992
DB AH2N Registered Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0QON Registered Shares London Stock Exchange GB CHF 02. Jan 1992
Number of employees
Current staff
Staff numbers
1,306
Ascom Holding employees.
Industry
Health Care Technology
Healthcare
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/25 21:02
End of day share price update: 2019/06/28 00:00
Last estimates confirmation: 2019/09/04
Last earnings filing: 2019/08/14
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.