Loading...

We've got a brand new version of Simply Wall St! Try it out

Svenska Cellulosa Aktiebolaget

DB:SCA
Snowflake Description

Excellent balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SCA
DB
SEK65B
Market Cap
  1. Home
  2. DE
  3. Materials
Company description

Svenska Cellulosa Aktiebolaget SCA (publ), a forest products company, develops, produces, and sells forest, wood, pulp, and paper products worldwide. The last earnings update was 79 days ago. More info.


Add to Portfolio Compare Print
SCA Share Price and Events
7 Day Returns
5.3%
DB:SCA
6.5%
Europe Forestry
2.8%
DE Market
1 Year Returns
-1.3%
DB:SCA
-11.9%
Europe Forestry
3%
DE Market
SCA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Svenska Cellulosa Aktiebolaget (SCA) 5.3% 0.5% 9.4% -1.3% -67.6% -52.6%
Europe Forestry 6.5% 1.9% 8.8% -11.9% 1% 49.9%
DE Market 2.8% 0.2% 1.3% 3% 8% 23.6%
1 Year Return vs Industry and Market
  • SCA outperformed the Forestry industry which returned -11.9% over the past year.
  • SCA underperformed the Market in Germany which returned 3% over the past year.
Price Volatility
SCA
Industry
5yr Volatility vs Market

SCA Value

 Is Svenska Cellulosa Aktiebolaget 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 Svenska Cellulosa Aktiebolaget 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 Svenska Cellulosa Aktiebolaget.

DB:SCA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.3%
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:SCA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Forestry Unlevered Beta Simply Wall St/ S&P Global 1.37
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.367 (1 + (1- 22%) (15%))
1.353
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.35
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.353 * 5.96%)
8.29%

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

The calculations below outline how an intrinsic value for Svenska Cellulosa Aktiebolaget 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:SCA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SEK, Millions) Source Present Value
Discounted (@ 8.29%)
2020 2,625.80 Analyst x5 2,424.69
2021 2,781.00 Analyst x4 2,371.33
2022 2,885.78 Est @ 3.77% 2,272.21
2023 2,963.87 Est @ 2.71% 2,154.96
2024 3,022.03 Est @ 1.96% 2,028.97
2025 3,065.61 Est @ 1.44% 1,900.59
2026 3,098.66 Est @ 1.08% 1,773.95
2027 3,124.16 Est @ 0.82% 1,651.56
2028 3,144.29 Est @ 0.64% 1,534.90
2029 3,160.62 Est @ 0.52% 1,424.71
Present value of next 10 years cash flows SEK19,537.00
DB:SCA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= SEK3,160.62 × (1 + 0.23%) ÷ (8.29% – 0.23%)
SEK39,273.48
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SEK39,273.48 ÷ (1 + 8.29%)10
SEK17,703.21
DB:SCA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SEK19,537.00 + SEK17,703.21
SEK37,240.21
Equity Value per Share
(SEK)
= Total value / Shares Outstanding
= SEK37,240.21 / 702.34
SEK53.02
DB:SCA Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:SCA represents 0.09195x of OM:SCA B
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.09195x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (SEK) x Listing Adjustment Factor
= SEK 53.02 x 0.09195
€4.88
Value per share (EUR) From above. €4.88
Current discount Discount to share price of €8.45
= -1 x (€8.45 - €4.88) / €4.88
-73.4%

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

  • The current share price of Svenska Cellulosa Aktiebolaget 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 Svenska Cellulosa Aktiebolaget's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Svenska Cellulosa Aktiebolaget's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:SCA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in SEK SEK4.93
OM:SCA B Share Price ** OM (2019-10-11) in SEK SEK91.94
Europe Forestry Industry PE Ratio Median Figure of 31 Publicly-Listed Forestry Companies 10.37x
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 Svenska Cellulosa Aktiebolaget.

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

= OM:SCA B Share Price ÷ EPS (both in SEK)

= 91.94 ÷ 4.93

18.65x

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

  • Svenska Cellulosa Aktiebolaget is overvalued based on earnings compared to the Europe Forestry industry average.
  • Svenska Cellulosa Aktiebolaget is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Svenska Cellulosa Aktiebolaget's expected growth come at a high price?
Raw Data
DB:SCA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.65x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
6.3%per year
Europe Forestry Industry PEG Ratio Median Figure of 19 Publicly-Listed Forestry Companies 0.3x
Germany Market PEG Ratio Median Figure of 265 Publicly-Listed Companies 1.39x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.65x ÷ 6.3%

2.97x

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

  • Svenska Cellulosa Aktiebolaget is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Svenska Cellulosa Aktiebolaget's assets?
Raw Data
DB:SCA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in SEK SEK55.98
OM:SCA B Share Price * OM (2019-10-11) in SEK SEK91.94
Europe Forestry Industry PB Ratio Median Figure of 39 Publicly-Listed Forestry Companies 1.17x
Germany Market PB Ratio Median Figure of 598 Publicly-Listed Companies 1.74x
DB:SCA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OM:SCA B Share Price ÷ Book Value per Share (both in SEK)

= 91.94 ÷ 55.98

1.64x

* Primary Listing of Svenska Cellulosa Aktiebolaget.

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

  • Svenska Cellulosa Aktiebolaget is overvalued based on assets compared to the Europe Forestry industry average.
X
Value checks
We assess Svenska Cellulosa Aktiebolaget'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 Forestry 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 Forestry industry average (and greater than 0)? (1 check)
  5. Svenska Cellulosa Aktiebolaget 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.

SCA Future Performance

 How is Svenska Cellulosa Aktiebolaget expected to perform in the next 1 to 3 years based on estimates from 9 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
6.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Svenska Cellulosa Aktiebolaget expected to grow at an attractive rate?
  • Svenska Cellulosa Aktiebolaget's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Svenska Cellulosa Aktiebolaget's earnings growth is positive but not above the Germany market average.
  • Svenska Cellulosa Aktiebolaget's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:SCA Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:SCA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 6.3%
DB:SCA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 2.1%
Europe Forestry Industry Earnings Growth Rate Market Cap Weighted Average 3.2%
Europe Forestry Industry Revenue Growth Rate Market Cap Weighted Average 1.2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
DB:SCA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:SCA Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 21,961 4,785 3,475 1
2022-12-31 21,854 4,657 3,573 1
2021-12-31 21,550 4,978 3,614 8
2020-12-31 21,120 4,617 3,277 9
2019-12-31 20,284 3,858 2,919 9
2019-10-13
DB:SCA Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2019-06-30 21,738 3,354 3,463
2019-03-31 21,146 3,612 3,868
2018-12-31 20,442 3,505 3,659
2018-09-30 19,688 8,093 3,394
2018-06-30 19,153 7,700 3,030
2018-03-31 18,623 7,750 2,209
2017-12-31 18,115 7,272 1,873
2017-09-30 17,662 6,590 1,690
2017-06-30 17,192 10,304 1,508
2017-03-31 16,923 13,182 1,723
2016-12-31 16,780 15,556 1,770
2016-09-30 41,747 15,011 4,185

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Svenska Cellulosa Aktiebolaget's earnings are expected to grow by 6.3% yearly, however this is not considered high growth (20% yearly).
  • Svenska Cellulosa Aktiebolaget's revenue is expected to grow by 2.1% 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:SCA 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 9 Analyst Estimates (S&P Global) See Below

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

DB:SCA Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 4.95 4.95 4.95 1.00
2022-12-31 5.09 5.09 5.09 1.00
2021-12-31 5.26 6.71 4.47 7.00
2020-12-31 4.66 5.27 3.78 9.00
2019-12-31 4.15 4.31 3.99 9.00
2019-10-13
DB:SCA Past Financials Data
Date (Data in SEK Millions) EPS *
2019-06-30 4.93
2019-03-31 5.51
2018-12-31 5.21
2018-09-30 4.83
2018-06-30 4.31
2018-03-31 3.15
2017-12-31 2.67
2017-09-30 2.41
2017-06-30 2.15
2017-03-31 2.45
2016-12-31 2.52
2016-09-30 5.96

*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.
  • Svenska Cellulosa Aktiebolaget is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Svenska Cellulosa Aktiebolaget'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 Europe 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.
Svenska Cellulosa Aktiebolaget has a total score of 1/6, 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.

SCA Past Performance

  How has Svenska Cellulosa Aktiebolaget 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 Svenska Cellulosa Aktiebolaget's growth in the last year to its industry (Forestry).
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.
  • Svenska Cellulosa Aktiebolaget's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Svenska Cellulosa Aktiebolaget's 1-year earnings growth exceeds its 5-year average (14.3% vs -23.1%)
  • Svenska Cellulosa Aktiebolaget's earnings growth has exceeded the Europe Forestry industry average in the past year (14.3% vs 1.2%).
Earnings and Revenue History
Svenska Cellulosa Aktiebolaget'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 Svenska Cellulosa Aktiebolaget Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:SCA Past Revenue, Cash Flow and Net Income Data
Date (Data in SEK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 21,738.00 3,463.00 3,179.00
2019-03-31 21,146.00 3,868.00 3,139.00
2018-12-31 20,442.00 3,659.00 3,041.00
2018-09-30 19,688.00 3,394.00 3,104.00
2018-06-30 19,153.00 3,030.00 3,025.00
2018-03-31 18,623.00 2,209.00 2,827.00
2017-12-31 18,115.00 1,873.00 2,763.00
2017-09-30 17,662.00 1,690.00 2,656.00
2017-06-30 17,192.00 1,508.00 2,647.00
2017-03-31 16,923.00 1,723.00 2,662.00
2016-12-31 16,780.00 1,770.00 2,536.00
2016-09-30 41,747.00 4,185.00 11,004.00
2016-06-30 66,720.00 4,242.00 13,067.00
2016-03-31 91,649.00 5,707.00 15,029.00
2015-12-31 115,316.00 7,002.00 17,025.00
2015-09-30 113,673.00 5,615.00 16,675.00
2015-06-30 111,168.00 6,996.00 16,152.00
2015-03-31 107,778.00 6,812.00 15,509.00
2014-12-31 104,054.00 6,599.00 14,798.00
2014-09-30 100,077.00 6,995.00 13,709.00
2014-06-30 96,485.00 6,560.00 13,412.00
2014-03-31 93,775.00 5,920.00 13,282.00
2013-12-31 92,873.00 5,547.00 13,122.00
2013-09-30 92,898.00 5,797.00 13,797.00
2013-06-30 92,096.00 4,705.00 13,328.00
2013-03-31 89,250.00 4,625.00 12,807.00
2012-12-31 89,229.00 4,453.00 13,323.00

*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.
  • Svenska Cellulosa Aktiebolaget has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Svenska Cellulosa Aktiebolaget used its assets more efficiently than the Europe Forestry industry average last year based on Return on Assets.
  • Svenska Cellulosa Aktiebolaget has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Svenska Cellulosa Aktiebolaget'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 Forestry 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.
Svenska Cellulosa Aktiebolaget has a total score of 4/6, 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.

SCA Health

 How is Svenska Cellulosa Aktiebolaget'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 Svenska Cellulosa Aktiebolaget's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Svenska Cellulosa Aktiebolaget is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Svenska Cellulosa Aktiebolaget's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Svenska Cellulosa Aktiebolaget'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 1.2x 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 Svenska Cellulosa Aktiebolaget Company Filings, last reported 3 months ago.

DB:SCA Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 39,320.00 8,527.00 323.00
2019-03-31 38,624.00 8,624.00 488.00
2018-12-31 39,062.00 7,825.00 648.00
2018-09-30 38,391.00 7,967.00 542.00
2018-06-30 37,166.00 8,179.00 589.00
2018-03-31 36,244.00 8,268.00 506.00
2017-12-31 36,753.00 7,177.00 538.00
2017-09-30 36,142.00 7,592.00 936.00
2017-06-30 35,715.00 7,750.00 1,139.00
2017-03-31 83,357.00 61,740.00 31,687.00
2016-12-31 79,519.00 36,717.00 4,501.00
2016-09-30 74,319.00 38,330.00 5,286.00
2016-06-30 72,619.00 39,714.00 5,188.00
2016-03-31 76,063.00 38,092.00 5,443.00
2015-12-31 75,691.00 33,927.00 5,042.00
2015-09-30 74,715.00 37,302.00 5,451.00
2015-06-30 75,670.00 41,269.00 6,065.00
2015-03-31 76,777.00 42,378.00 8,339.00
2014-12-31 72,872.00 39,063.00 3,817.00
2014-09-30 70,267.00 40,485.00 5,396.00
2014-06-30 68,194.00 41,107.00 3,789.00
2014-03-31 68,471.00 38,125.00 4,029.00
2013-12-31 67,811.00 38,712.00 3,823.00
2013-09-30 60,040.00 33,539.00 2,662.00
2013-06-30 59,618.00 36,559.00 3,570.00
2013-03-31 60,919.00 32,761.00 2,535.00
2012-12-31 61,699.00 34,182.00 2,124.00
  • Svenska Cellulosa Aktiebolaget's level of debt (21.7%) 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 (60.2% vs 21.7% today).
  • Debt is well covered by operating cash flow (39.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 42x coverage).
X
Financial health checks
We assess Svenska Cellulosa Aktiebolaget'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. Svenska Cellulosa Aktiebolaget 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.

SCA Dividends

 What is Svenska Cellulosa Aktiebolaget'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
1.9%
Current annual income from Svenska Cellulosa Aktiebolaget dividends. Estimated to be 2.42% next year.
If you bought €2,000 of Svenska Cellulosa Aktiebolaget shares you are expected to receive €38 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?
  • Svenska Cellulosa Aktiebolaget's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Svenska Cellulosa Aktiebolaget'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:SCA 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 9 Analyst Estimates (S&P Global) See Below
Europe Forestry Industry Average Dividend Yield Market Cap Weighted Average of 24 Stocks 4.4%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

DB:SCA Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 2.50 1.00
2022-12-31 2.40 1.00
2021-12-31 2.46 8.00
2020-12-31 2.22 9.00
2019-12-31 1.97 9.00
2019-10-13
DB:SCA Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2019-02-12 1.750 2.162
2018-02-15 1.500 1.710
2017-03-02 6.000 6.528
2016-03-09 5.750 2.238
2015-03-10 5.250 2.276
2014-03-05 4.750 2.666
2013-01-24 4.500 2.609
2012-02-21 4.200 3.548
2012-01-26 4.200 3.678
2011-04-07 4.000 4.323
2010-04-26 3.700 3.647
2009-04-02 3.500 3.799

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 Svenska Cellulosa Aktiebolaget's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).
X
Income/ dividend checks
We assess Svenska Cellulosa Aktiebolaget's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Svenska Cellulosa Aktiebolaget afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Svenska Cellulosa Aktiebolaget has a total score of 3/6, see the detailed checks below.


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

SCA Management

 What is the CEO of Svenska Cellulosa Aktiebolaget'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
Ulf Larsson
COMPENSATION SEK19,444,039
AGE 57
TENURE AS CEO 2.3 years
CEO Bio

Mr. Ulf Larsson, BSc Forestry has been the Chief Executive Officer, President & Director of Svenska Cellulosa Aktiebolaget SCA (publ) since June 15, 2017. Mr. Larsson served as an Executive Vice President of Svenska Cellulosa Aktiebolaget SCA from August 2016 to May 17, 2017. He Joined Svenska Cellulosa Aktiebolaget SCA in 1992. Mr. Larsson served as the President of SCA Forest Products at Svenska Cellulosa Aktiebolaget SCA from 2008 to May 17, 2017. Mr. Larsson has been with SCA Forest Products since 1992. He holds a BSc in Forestry from Swedish University of Agricultural Sciences Umeåin 1987.

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

Average tenure and age of the Svenska Cellulosa Aktiebolaget management team in years:

3.2
Average Tenure
57
Average Age
  • The tenure for the Svenska Cellulosa Aktiebolaget management team is about average.
Management Team

Ulf Larsson

TITLE
President
COMPENSATION
SEK19M
AGE
57
TENURE
2.3 yrs

Toby Lawton

TITLE
Chief Financial Officer
AGE
44
TENURE
2.6 yrs

Andreas Ewertz

TITLE
Investor Relations Director

Karin Henriksson

TITLE
Vice President of Compliance & Ethics

Jan Svedjebrant

TITLE
Senior VP of Legal Affairs
AGE
64

Björn Lyngfelt

TITLE
Senior Vice President of Communications

Stina Danielsson

TITLE
Senior Vice President of Human Resources

Ole Terland

TITLE
Senior Vice President of Strategic Development
AGE
61
TENURE
3.8 yrs

Pablo Fuentes

TITLE
President of Latin America
AGE
46
TENURE
4.8 yrs

Jonas Mårtensson

TITLE
President of Forest
Board of Directors Tenure

Average tenure and age of the Svenska Cellulosa Aktiebolaget board of directors in years:

4.8
Average Tenure
57.5
Average Age
  • The tenure for the Svenska Cellulosa Aktiebolaget board of directors is about average.
Board of Directors

Pär Boman

TITLE
Chairman
COMPENSATION
SEK2M
AGE
58
TENURE
4.8 yrs

Ulf Larsson

TITLE
President
COMPENSATION
SEK19M
AGE
57
TENURE
2.3 yrs

Bo Rydin

TITLE
Honorary Chairman of the Board
AGE
87

Barbara Thoralfsson

TITLE
Director
COMPENSATION
SEK930K
AGE
60
TENURE
13.5 yrs

Bert Ake Nordberg

TITLE
Director
COMPENSATION
SEK705K
AGE
63
TENURE
7.6 yrs

Roger Boström

TITLE
Employee Representative Director
AGE
48
TENURE
6.8 yrs

Annemarie Gardshol

TITLE
Director
COMPENSATION
SEK600K
AGE
52
TENURE
4.8 yrs

Martin Lindqvist

TITLE
Director
COMPENSATION
SEK850K
AGE
57
TENURE
2.3 yrs

Charlotte Bengtsson

TITLE
Director
COMPENSATION
SEK600K
AGE
48
TENURE
2.3 yrs

Le Evrell

TITLE
Director
COMPENSATION
SEK705K
AGE
65
TENURE
2.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Svenska Cellulosa Aktiebolaget individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
02. Oct 19 Buy Charlotte Bengtsson Individual 02. Oct 19 02. Oct 19 1,160 €7.99 €9,263
10. Sep 19 Buy Annemarie Gardshol Individual 10. Sep 19 10. Sep 19 1,000 €8.18 €8,176
31. Jul 19 Buy Annemarie Gardshol Individual 31. Jul 19 31. Jul 19 1,900 €7.57 €14,387
01. Jul 19 Buy Jerry Larsson Individual 27. Jun 19 27. Jun 19 2,000 €7.55 €15,093
27. Jun 19 Buy Ulf Larsson Individual 26. Jun 19 26. Jun 19 15,000 €7.66 €114,837
25. Jun 19 Buy Toby Lawton Individual 25. Jun 19 25. Jun 19 4,000 €7.55 €30,204
08. May 19 Buy Mikael Källgren Individual 07. May 19 07. May 19 1,350 €7.73 €10,432
07. May 19 Buy Mats Nordlander Individual 06. May 19 06. May 19 350 €7.65 €2,676
05. May 19 Buy Mats Nordlander Individual 02. May 19 02. May 19 3,100 €7.74 €23,982
29. Apr 19 Buy Jan Svedjebrant Individual 29. Apr 19 29. Apr 19 1,900 €7.89 €14,992
26. Apr 19 Buy Magnus Svensson Individual 26. Apr 19 26. Apr 19 2,300 €7.81 €17,969
26. Mar 19 Buy Kristina Enander Individual 25. Mar 19 25. Mar 19 1,000 €7.56 €7,562
27. Mar 19 Buy Ingela Ekebro Individual 25. Mar 19 25. Mar 19 2,000 €7.57 €15,125
26. Mar 19 Buy Stina Danielsson Individual 25. Mar 19 25. Mar 19 1,800 €7.51 €13,516
25. Mar 19 Buy Björn Lyngfelt Individual 25. Mar 19 25. Mar 19 1,500 €7.57 €11,349
22. Mar 19 Buy Ole Terland Individual 22. Mar 19 22. Mar 19 3,000 €7.63 €22,882
23. Feb 19 Buy Magnus Svensson Individual 21. Feb 19 22. Feb 19 20,700 €8.00 €163,199
28. Dec 18 Buy Annemarie Gardshol Individual 27. Dec 18 27. Dec 18 1,100 €6.68 €7,347
27. Dec 18 Buy Jan Svedjebrant Individual 27. Dec 18 27. Dec 18 3,300 €6.63 €21,850
19. Nov 18 Buy Stina Danielsson Individual 15. Nov 18 15. Nov 18 1,000 €7.51 €7,510
X
Management checks
We assess Svenska Cellulosa Aktiebolaget'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. Svenska Cellulosa Aktiebolaget 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.

SCA News

Simply Wall St News

SCA Company Info

Description

Svenska Cellulosa Aktiebolaget SCA (publ), a forest products company, develops, produces, and sells forest, wood, pulp, and paper products worldwide. The company offers wood products to the home improvement and building materials sectors, including machined softwood, carcassing, MDF, decking, and sheet materials for builders' merchants and DIY retailers; and various wood products, industrial components, standard wood products, and raw materials, as well as logistic, warehouse, and IT solutions for the wood industry. It also provides decking, carcassing, softwood PSE, door lining and casing, softwood molding, composite decking, sheet material, and MDF molding wood products for use in homes; and softwood shavings for horses. In addition, the company offers pulp products under the Celeste, Star, and Cirrus names; coated papers, including glossy and matt surfaces; uncoated printing paper; and Kraftliner products for consumer durables, electronics, hazardous goods, industrial products, fruit and vegetables, frozen foods, etc. Further, it provides forwarding services for various transport modes, such as truck, rail, and barge, as well as marine and road transport; and liquid biofuels, solid biofuels, pellets, stall pellets, and wind energy. Additionally, the company engages in the distribution and wholesale of wood products; production of Kraft and chemical thermomechanical pulps, and containerboards; and publication of paper for magazines, catalogues, and commercial print. Svenska Cellulosa Aktiebolaget SCA (publ) was founded in 1929 and is headquartered in Sundsvall, Sweden.

Details
Name: Svenska Cellulosa Aktiebolaget SCA (publ)
SCA
Exchange: DB
Founded: 1929
SEK5,991,961,291
702,342,489
Website: http://www.sca.com/en/
Address: Svenska Cellulosa Aktiebolaget SCA (publ)
Skepparplatsen 1,
Sundsvall,
Västernorrland County, 851 88,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM SCA B Class B Shares OMX Nordic Exchange Stockholm SE SEK 02. Jan 1992
OTCPK SVCB.F Class B Shares Pink Sheets LLC US USD 02. Jan 1992
DB SCA Class B Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0MCK Class B Shares London Stock Exchange GB SEK 02. Jan 1992
SWX SCAB Class B Shares SIX Swiss Exchange CH CHF 02. Jan 1992
BATS-CHIXE SCABS Class B Shares BATS 'Chi-X Europe' GB SEK 02. Jan 1992
OTCPK SVCB.Y SPONSORED ADR Pink Sheets LLC US USD 04. Jan 1984
OM SCA A Class A Shares OMX Nordic Exchange Stockholm SE SEK 02. Jan 1992
DB SCA1 Class A Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0MCJ Class A Shares London Stock Exchange GB SEK 02. Jan 1992
BATS-CHIXE SCAAS Class A Shares BATS 'Chi-X Europe' GB SEK 02. Jan 1992
Number of employees
Current staff
Staff numbers
4,000
Svenska Cellulosa Aktiebolaget employees.
Industry
Forest Products
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 22:36
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/10/11
Last earnings filing: 2019/07/26
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.