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Sanoma Oyj

HLSE:SAA1V
Snowflake Description

Good value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SAA1V
HLSE
€2B
Market Cap
  1. Home
  2. FI
  3. Media
Company description

Sanoma Oyj operates as a media and learning company in Finland, the Netherlands, other European countries, and internationally. The last earnings update was 94 days ago. More info.


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SAA1V Share Price and Events
7 Day Returns
-5.6%
HLSE:SAA1V
-3.3%
FI Media
-0.5%
FI Market
1 Year Returns
18.5%
HLSE:SAA1V
26.5%
FI Media
9.2%
FI Market
SAA1V Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sanoma Oyj (SAA1V) -5.6% 9.6% 10.4% 18.5% 23.5% 88%
FI Media -3.3% 11.1% 14.6% 26.5% 33.4% 97.2%
FI Market -0.5% 3.2% 6.6% 9.2% 16.4% 22.2%
1 Year Return vs Industry and Market
  • SAA1V underperformed the Media industry which returned 26.5% over the past year.
  • SAA1V outperformed the Market in Finland which returned 9.2% over the past year.
Price Volatility
SAA1V
Industry
5yr Volatility vs Market

Value

 Is Sanoma Oyj 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 Sanoma Oyj 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 Sanoma Oyj.

HLSE:SAA1V Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.1%
Perpetual Growth Rate 10-Year FI Government Bond Rate -0.1%

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 HLSE:SAA1V
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FI Govt Bond Rate -0.1%
Equity Risk Premium S&P Global 5.9%
Media Unlevered Beta Simply Wall St/ S&P Global 0.77
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.772 (1 + (1- 20%) (48.43%))
1.047
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.05
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.11% + (1.047 * 5.94%)
6.11%

Discounted Cash Flow Calculation for HLSE:SAA1V using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Sanoma Oyj 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.

HLSE:SAA1V DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.11%)
2020 379.50 Analyst x4 357.64
2021 145.75 Analyst x4 129.45
2022 143.50 Analyst x2 120.11
2023 140.00 Analyst x2 110.43
2024 140.50 Analyst x2 104.44
2025 139.13 Est @ -0.98% 97.46
2026 138.13 Est @ -0.72% 91.19
2027 137.39 Est @ -0.54% 85.48
2028 136.83 Est @ -0.41% 80.23
2029 136.39 Est @ -0.32% 75.36
Present value of next 10 years cash flows €1,251.00
HLSE:SAA1V DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €136.39 × (1 + -0.11%) ÷ (6.11% – -0.11%)
€2,189.90
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €2,189.90 ÷ (1 + 6.11%)10
€1,210.06
HLSE:SAA1V Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €1,251.00 + €1,210.06
€2,461.06
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €2,461.06 / 163.02
€15.1
HLSE:SAA1V Discount to Share Price
Calculation Result
Value per share (EUR) From above. €15.10
Current discount Discount to share price of €10.37
= -1 x (€10.37 - €15.10) / €15.10
31.3%

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

Current Discount
Amount off the current price Sanoma Oyj is available for.
Intrinsic value
31%
Share price is €10.37 vs Future cash flow value of €15.1
Current Discount Checks
For Sanoma Oyj to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Sanoma Oyj's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Sanoma Oyj'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 Sanoma Oyj's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sanoma Oyj's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
HLSE:SAA1V PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in EUR €0.68
HLSE:SAA1V Share Price ** HLSE (2020-01-27) in EUR €10.37
Finland Media Industry PE Ratio Median Figure of 5 Publicly-Listed Media Companies 18.06x
Finland Market PE Ratio Median Figure of 95 Publicly-Listed Companies 20.98x

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

** Primary Listing of Sanoma Oyj.

HLSE:SAA1V PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= HLSE:SAA1V Share Price ÷ EPS (both in EUR)

= 10.37 ÷ 0.68

15.31x

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

  • Sanoma Oyj is good value based on earnings compared to the FI Media industry average.
  • Sanoma Oyj is good value based on earnings compared to the Finland market.
Price based on expected Growth
Does Sanoma Oyj's expected growth come at a high price?
Raw Data
HLSE:SAA1V PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.31x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
22%per year
Europe Media Industry PEG Ratio Median Figure of 66 Publicly-Listed Media Companies 1.69x
Finland Market PEG Ratio Median Figure of 82 Publicly-Listed Companies 1.66x

*Line of best fit is calculated by linear regression .

HLSE:SAA1V PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.31x ÷ 22%

0.7x

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

  • Sanoma Oyj is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Sanoma Oyj's assets?
Raw Data
HLSE:SAA1V PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in EUR €3.93
HLSE:SAA1V Share Price * HLSE (2020-01-27) in EUR €10.37
Finland Media Industry PB Ratio Median Figure of 6 Publicly-Listed Media Companies 1.64x
Finland Market PB Ratio Median Figure of 138 Publicly-Listed Companies 2.24x
HLSE:SAA1V PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= HLSE:SAA1V Share Price ÷ Book Value per Share (both in EUR)

= 10.37 ÷ 3.93

2.64x

* Primary Listing of Sanoma Oyj.

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

  • Sanoma Oyj is overvalued based on assets compared to the FI Media industry average.
X
Value checks
We assess Sanoma Oyj'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 Media 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 Media industry average (and greater than 0)? (1 check)
  5. Sanoma Oyj has a total score of 4/6, 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 Sanoma Oyj expected to perform in the next 1 to 3 years based on estimates from 4 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
22%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sanoma Oyj expected to grow at an attractive rate?
  • Sanoma Oyj's earnings growth is expected to exceed the low risk savings rate of -0.1%.
Growth vs Market Checks
  • Sanoma Oyj's earnings growth is expected to exceed the Finland market average.
  • Sanoma Oyj's revenue growth is positive but not above the Finland market average.
Annual Growth Rates Comparison
Raw Data
HLSE:SAA1V Future Growth Rates Data Sources
Data Point Source Value (per year)
HLSE:SAA1V Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 22%
HLSE:SAA1V Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 2%
Finland Media Industry Earnings Growth Rate Market Cap Weighted Average 17.1%
Finland Media Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Finland Market Earnings Growth Rate Market Cap Weighted Average 14.6%
Finland Market Revenue Growth Rate Market Cap Weighted Average 2.5%

*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
HLSE:SAA1V Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
HLSE:SAA1V Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 1,099 275 1
2023-12-31 1,088 275 1
2022-12-31 1,084 282 108 2
2021-12-31 1,077 262 103 4
2020-12-31 1,066 262 105 4
2020-01-27
2019-12-31 916 265 38 4
HLSE:SAA1V Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-09-30 1,275 157 110
2019-06-30 1,295 142 120
2019-03-31 1,305 143 115
2018-12-31 1,318 141 111
2018-09-30 1,326 154 132
2018-06-30 1,314 150 120
2018-03-31 1,370 146 121
2017-12-31 1,438 141 -165
2017-09-30 1,444 154 -207
2017-06-30 1,502 169 -215
2017-03-31 1,533 172 -169
2016-12-31 1,556 158 112

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Sanoma Oyj's earnings are expected to grow significantly at over 20% yearly.
  • Sanoma Oyj's revenue is expected to grow by 2% 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
HLSE:SAA1V 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 4 Analyst Estimates (S&P Global) See Below

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

HLSE:SAA1V Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 0.67 0.67 0.67 1.00
2021-12-31 0.63 0.69 0.56 4.00
2020-12-31 0.70 0.75 0.63 4.00
2020-01-27
2019-12-31 0.06 0.07 0.06 2.00
HLSE:SAA1V Past Financials Data
Date (Data in EUR Millions) EPS *
2019-09-30 0.68
2019-06-30 0.73
2019-03-31 0.71
2018-12-31 0.68
2018-09-30 0.81
2018-06-30 0.74
2018-03-31 0.74
2017-12-31 -1.02
2017-09-30 -1.28
2017-06-30 -1.33
2017-03-31 -1.04
2016-12-31 0.69

*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.
  • Sanoma Oyj is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Sanoma Oyj'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 Finland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Finland 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.
Sanoma Oyj has a total score of 3/6, see the detailed checks below.

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

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

Past Performance

  How has Sanoma Oyj 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 Sanoma Oyj's growth in the last year to its industry (Media).
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.
  • Sanoma Oyj has delivered over 20% year on year earnings growth in the past 5 years.
  • Sanoma Oyj's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Sanoma Oyj's 1-year earnings growth is negative, it can't be compared to the Europe Media industry average.
Earnings and Revenue History
Sanoma Oyj'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 Sanoma Oyj Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

HLSE:SAA1V Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 1,274.80 110.30 427.20
2019-06-30 1,295.40 119.60 424.10
2019-03-31 1,304.90 115.40 425.50
2018-12-31 1,318.30 111.30 425.30
2018-09-30 1,326.20 132.10 431.30
2018-06-30 1,314.00 120.40 438.40
2018-03-31 1,369.60 120.50 449.20
2017-12-31 1,437.80 -165.00 460.80
2017-09-30 1,444.40 -207.30 459.00
2017-06-30 1,501.90 -215.30 468.10
2017-03-31 1,533.10 -168.80 407.40
2016-12-31 1,556.40 112.00 425.50
2016-09-30 1,650.30 25.40 501.80
2016-06-30 1,670.40 -28.80 529.30
2016-03-31 1,689.70 -141.50 627.60
2015-12-31 1,716.70 -148.40 640.80
2015-09-30 1,759.90 -145.60 691.40
2015-06-30 1,779.40 -82.70 690.10
2015-03-31 1,843.40 -82.20 711.10
2014-12-31 1,901.60 52.50 728.50
2014-09-30 1,966.50 129.50 732.30
2014-06-30 2,026.00 -185.20 754.90
2014-03-31 2,051.20 -143.30 754.80
2013-12-31 2,083.50 -308.30 763.40
2013-09-30 2,152.80 -286.30 798.50
2013-06-30 2,215.00 10.20 808.20
2013-03-31 2,303.30 44.40 817.20

*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.
  • Sanoma Oyj has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Sanoma Oyj used its assets more efficiently than the FI Media industry average last year based on Return on Assets.
  • Sanoma Oyj has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Sanoma Oyj'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 Media 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.
Sanoma Oyj has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

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

Health

 How is Sanoma Oyj'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 Sanoma Oyj's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Sanoma Oyj's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Sanoma Oyj's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Sanoma Oyj's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Sanoma Oyj Company Filings, last reported 3 months ago.

HLSE:SAA1V Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 652.00 639.50 32.80
2019-06-30 588.80 426.10 28.70
2019-03-31 547.10 390.60 44.70
2018-12-31 611.40 354.90 18.80
2018-09-30 625.60 425.00 33.10
2018-06-30 558.70 506.90 34.10
2018-03-31 487.10 458.50 19.60
2017-12-31 547.10 410.70 20.60
2017-09-30 544.50 555.40 36.70
2017-06-30 598.60 850.90 24.40
2017-03-31 553.40 866.20 22.60
2016-12-31 1,002.50 828.60 43.40
2016-09-30 1,128.40 799.80 33.30
2016-06-30 1,078.30 907.00 52.00
2016-03-31 1,005.70 902.10 79.50
2015-12-31 1,029.10 900.20 98.50
2015-09-30 1,158.30 922.30 70.70
2015-06-30 1,191.00 1,001.60 71.30
2015-03-31 1,155.50 954.60 109.20
2014-12-31 1,201.30 906.90 116.30
2014-09-30 1,262.70 937.10 112.30
2014-06-30 1,240.70 1,074.40 124.30
2014-03-31 1,291.10 1,066.70 146.80
2013-12-31 1,179.30 1,273.70 151.40
2013-09-30 1,180.30 1,466.30 179.00
2013-06-30 1,444.40 1,571.70 154.00
2013-03-31 1,523.80 1,471.00 153.30
  • Sanoma Oyj's level of debt (98.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (73.3% vs 98.1% today).
  • Debt is well covered by operating cash flow (24.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 10.8x coverage).
X
Financial health checks
We assess Sanoma Oyj'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. Sanoma Oyj has a total score of 2/6, 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 Sanoma Oyj'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
4.34%
Current annual income from Sanoma Oyj dividends. Estimated to be 5.17% next year.
If you bought €2,000 of Sanoma Oyj shares you are expected to receive €87 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?
  • Sanoma Oyj's pays a higher dividend yield than the bottom 25% of dividend payers in Finland (2.11%).
  • Sanoma Oyj's dividend is below the markets top 25% of dividend payers in Finland (4.72%).
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
HLSE:SAA1V 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 4 Analyst Estimates (S&P Global) See Below
Finland Media Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.4%
Finland Market Average Dividend Yield Market Cap Weighted Average of 99 Stocks 4%
Finland Minimum Threshold Dividend Yield 10th Percentile 1.3%
Finland Bottom 25% Dividend Yield 25th Percentile 2.1%
Finland Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

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

HLSE:SAA1V Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31 0.55 4.00
2020-12-31 0.52 4.00
2020-01-27
2019-12-31 0.50 4.00
HLSE:SAA1V Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-06 0.450 4.933
2018-02-08 0.350 3.875
2017-03-21 0.200 2.236
2016-03-10 0.100 1.523
2016-02-09 0.100 2.344
2015-02-05 0.200 4.792
2014-03-03 0.100 1.973
2013-03-01 0.600 9.571
2012-08-01 0.600 8.188
2012-04-03 0.600 8.560
2011-04-05 1.100 10.527
2010-03-01 0.800 5.121
2010-02-11 0.800 5.450
2009-02-10 0.900 7.431

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 Sanoma Oyj's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.5x 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 Sanoma Oyj's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 Sanoma Oyj afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sanoma Oyj 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.

Management

 What is the CEO of Sanoma Oyj'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
Susan Duinhoven
COMPENSATION €1,071,053
AGE 54
TENURE AS CEO 4.3 years
CEO Bio

Ms. Susan Duinhoven has been the Chief Executive Officer and President of Sanoma Oyj since October 1, 2015 and was Interim CEO of Sanoma Media Netherlands from August 15, 2018 to January 01, 2019. Ms. Duinhoven served as Chief Executive Officer and Chairman of the Executive Board at Koninklijke Wegener NV since April 2013 until October 1, 2015. She serves as Chief Executive Officer and Chairman of the Board of Directors at TUI Nederland, NV. She has been Chief Executive Officer of Wegener at Mecom Group plc since April 15, 2013. She has many years of experience in a range of management roles at international companies, including Unilever, McKinsey & Co, De Telefoongids, European Directories and Reader's Digest. She served as Chief Executive Officer of West Europe at Thomas Cook Group plc since January 2012 to 2013 and served as its Member of Executive Board. She served as Managing Director of Online Activities Europe. Ms. Duinhoven joined Thomas Cook Group plc in 2010. She served as Chief Executive Officer of Netherlands at Thomas Cook Group plc since 2010 to 2011. She served as Chief Executive Officer at De Gule Sider A/S (Denmark) from 2005 to 2007. She served as Managing Director of Benelux & New Acquisitions Europe at Reader’s Digest from 2008 to 2010. She served as Chief Operating Officer & Marketing Director at De Telefoongids (The Netherlands) from 2002 to 2005. She serves as Chairman of ANVR and Wegener Management. She serves as Chairman of the Supervisory Board of Stichting Garantiefonds Reizen (SGR) and Chairman of the Supervisory Board of Stichting Calamiteiten Fonds Reizen (CFR). She serves as Non-executive Board Member of Mecom Group Plc. She served as a Director of Sanoma Oyj since April 8, 2015 until March 23, 2017. She served as Member of Board of Directors of VNO-NCW until December 2012. Ms. Duinhoven holds Ph.D. in Physical Chemistry from Wageningen University and B.S. in Physical Chemistry from Amsterdam University.

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

Average tenure and age of the Sanoma Oyj management team in years:

4
Average Tenure
58
Average Age
  • The tenure for the Sanoma Oyj management team is about average.
Management Team

Susan Duinhoven

TITLE
President & CEO
COMPENSATION
€1M
AGE
54
TENURE
4.3 yrs

Markus Holm

TITLE
CFO & COO
AGE
52
TENURE
3 yrs

Taka-Aho Kai

TITLE
Chief Technology Officer
TENURE
4.3 yrs

Kaisa Uurasmaa

TITLE
Head of Investor Relations & Corporate Social Responsibility
TENURE
2.3 yrs

Gieta Veersma

TITLE
Chief HR Officer
TENURE
4 yrs

Jarmo Oksaharju

TITLE
Senior Vice President of Bookstores-Rautakirja
AGE
58

Jukka Nikkinen

TITLE
Senior Vice President of Business Development-Rautakirja
AGE
57

Raimo Kurri

TITLE
Senior Vice President of Trade Services
AGE
66

Hellevi Kekäläinen

TITLE
President of Sanoma Trade
AGE
66

Pekka Laakeristo

TITLE
President of Sanoma Data
AGE
64
Board of Directors Tenure

Average tenure and age of the Sanoma Oyj board of directors in years:

5.8
Average Tenure
62
Average Age
  • The tenure for the Sanoma Oyj board of directors is about average.
Board of Directors

Pekka Ala-Pietilä

TITLE
Independent Chairman of the Board
AGE
62
TENURE
4 yrs

Antti Herlin

TITLE
Independent Vice Chairman
AGE
63
TENURE
4 yrs

Anne Brunila

TITLE
Independent Director
AGE
62
TENURE
6.8 yrs

Nils Ittonen

TITLE
Independent Director
AGE
65
TENURE
5.8 yrs

Rafaela Seppälä

TITLE
Independent Director
AGE
65
TENURE
11.8 yrs

Kai Öistämö

TITLE
Independent Director
AGE
55
TENURE
8.8 yrs

Mika Ihamuotila

TITLE
Independent Director
AGE
55
TENURE
6.8 yrs

Denise Koopmans

TITLE
Independent Director
AGE
57
TENURE
4.8 yrs

Sebastian Langenskiöld

TITLE
Independent Director
AGE
37
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 Sanoma Oyj'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. Sanoma Oyj 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

A Close Look At Sanoma Oyj’s (HEL:SAA1V) 21% ROCE

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Sanoma Oyj:0.21 = €173m ÷ (€1.7b - €913m) (Based on the trailing twelve months to June 2019.) Therefore, Sanoma Oyj has an ROCE of 21%. … What Are Current Liabilities, And How Do They Affect Sanoma Oyj's ROCE? … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE.

Simply Wall St -

Would Sanoma Oyj (HEL:SAA1V) Be Valuable To Income Investors?

Is Sanoma Oyj (HEL:SAA1V) a good dividend stock? How can we tell? Dividend paying companies with growing earnings can be highly rewarding in the long term. Yet sometimes, investors buy a popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. A high yield and a long history of paying dividends is an appealing combination for Sanoma Oyj. We'd guess that plenty of investors have purchased it for the income. The company also bought back stock equivalent to around 0.5% of market capitalisation this year. Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1. We'll run through some checks below to help with this. Click the interactive chart for our full dividend analysis HLSE:SAA1V Historical Dividend Yield, August 26th 2019 Payout ratios Dividends are usually paid out of company earnings. If a company is paying more than it earns, then the dividend might become unsustainable - hardly an ideal situation. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. In the last year, Sanoma Oyj paid out 61% of its profit as dividends. A payout ratio above 50% generally implies a business is reaching maturity, although it is still possible to reinvest in the business or increase the dividend over time. We also measure dividends paid against a company's levered free cash flow, to see if enough cash was generated to cover the dividend. Sanoma Oyj paid out 59% of its free cash flow last year, which is acceptable, but is starting to limit the amount of earnings that can be reinvested into the business. It's positive to see that Sanoma Oyj's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut. Dividend Volatility Before buying a stock for its income, we want to see if the dividends have been stable in the past, and if the company has a track record of maintaining its dividend. Sanoma Oyj has been paying dividends for a long time, but for the purpose of this analysis, we only examine the past 10 years of payments. Its dividend payments have fallen by 20% or more on at least one occasion over the past ten years. During the past ten-year period, the first annual payment was €0.90 in 2009, compared to €0.45 last year. The dividend has shrunk at around 6.7% a year during that period. Sanoma Oyj's dividend hasn't shrunk linearly at 6.7% per annum, but the CAGR is a useful estimate of the historical rate of change. A shrinking dividend over a ten-year period is not ideal, and we'd be concerned about investing in a dividend stock that lacks a solid record of growing dividends per share. Dividend Growth Potential With a relatively unstable dividend, and a poor history of shrinking dividends, it's even more important to see if EPS are growing. It's good to see Sanoma Oyj has been growing its earnings per share at 28% a year over the past 5 years. With recent, rapid earnings per share growth and a payout ratio of 61%, this business looks like an interesting prospect if earnings are reinvested effectively. 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. … Sanoma Oyj's is paying out more than half its income as dividends, but at least the dividend is covered by both reported earnings and cashflow. … Unfortunately, the company has not been able to generate earnings per share growth, and cut its dividend at least once in the past.

Simply Wall St -

Sanoma Oyj (HEL:SAA1V) Has A Pretty Healthy Balance Sheet

HLSE:SAA1V Historical Debt, August 15th 2019 How Healthy Is Sanoma Oyj's Balance Sheet? … When analysing debt levels, the balance sheet is the obvious place to start. … During the last three years, Sanoma Oyj produced sturdy free cash flow equating to 66% of its EBIT, about what we'd expect.

Simply Wall St -

How Sanoma Oyj (HEL:SAA1V) Could Add Value To Your Portfolio

Paying interest on time and in full can help the company get favourable debt terms in the future, leading to lower cost of debt and helps SAA1V expand. … Take a look at our free research report of analyst consensus for SAA1V’s outlook. … The intrinsic value infographic in our free research report helps visualize whether SAA1V is currently mispriced by the market.

Simply Wall St -

What Are Analysts Saying About Sanoma Oyj's (HEL:SAA1V) Growth?

Generally, analysts seem cautiously bearish, with earnings expected to grow by 12% in the upcoming year relative to the higher past 5-year average growth rate of 26%. … To reduce the year-on-year volatility of analyst earnings forecast, I've inserted a line of best fit through the expected earnings figures to determine the annual growth rate from the slope of the line. … HLSE:SAA1V Past and Future Earnings, July 24th 2019 By 2022, SAA1V's earnings should reach €123m, from current levels of €111m, resulting in an annual growth rate of 0.7%.

Simply Wall St -

Does Sanoma Oyj's (HEL:SAA1V) Share Price Gain of 73% Match Its Business Performance?

To wit, the Sanoma Oyj share price has climbed 73% in five years, easily topping the market return of 32% (ignoring dividends). … During the five years of share price growth, Sanoma Oyj moved from a loss to profitability. … As it happens, Sanoma Oyj's TSR for the last 5 years was 102%, which exceeds the share price return mentioned earlier.

Simply Wall St -

Should You Be Pleased About The CEO Pay At Sanoma Oyj's (HEL:SAA1V)

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … Check out our latest analysis for Sanoma Oyj How Does Susan Duinhoven's Compensation Compare With Similar Sized Companies? … Our data indicates that Sanoma Oyj is worth €1.4b, and total annual CEO compensation is €1.1m.

Simply Wall St -

Could Sanoma Oyj's (HEL:SAA1V) Investor Composition Influence The Stock Price?

The big shareholder groups in Sanoma Oyj (HEL:SAA1V) have power over the company. … Check out our latest analysis for Sanoma Oyj HLSE:SAA1V Ownership Summary, June 17th 2019 What Does The Institutional Ownership Tell Us About Sanoma Oyj? … We can see that Sanoma Oyj does have institutional investors; and they hold 44% of the stock.

Simply Wall St -

Is There An Opportunity With Sanoma Oyj's (HEL:SAA1V) 34% Undervaluation?

A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (€, Millions) €44.00 €146.75 €145.75 €140.00 €143.00 €142.05 €141.62 €141.54 €141.72 €142.08 Growth Rate Estimate Source Analyst x2 Analyst x4 Analyst x4 Analyst x1 Analyst x1 Est @ -0.67% Est @ -0.3% Est @ -0.05% Est @ 0.13% Est @ 0.25% Present Value (€, Millions) Discounted @ 7.2% €41.05 €127.70 €118.31 €106.01 €101.01 €93.60 €87.05 €81.16 €75.81 €70.89 Present Value of 10-year Cash Flow (PVCF)= €902.61m "Est" = FCF growth rate estimated by Simply Wall St We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = €142m × (1 + 0.5%) ÷ (7.2% – 0.5%) = €2.1b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = €€2.1b ÷ ( 1 + 7.2%)10 = €1.07b The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is €1.97b. … HLSE:SAA1V Intrinsic value, June 7th 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 -

Three Things You Should Check Before Buying Sanoma Oyj (HEL:SAA1V) For Its Dividend

Unfortunately, it's common for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Sanoma Oyj has grown its earnings per share at 26% per annum over the past five years. … Earnings growth generally bodes well for the future value of company dividend payments.

Simply Wall St -

Company Info

Description

Sanoma Oyj operates as a media and learning company in Finland, the Netherlands, other European countries, and internationally. It operates through two segments, Consumer Media and Learning. The company publishes approximately 250 magazines and various newspapers; and operates TV networks and radio stations. It also operates Websites, apps, and digital services, as well as provides print, digital, and hybrid learning solutions. In addition, the company offers distribution and marketing, language and translation, custom publishing, event marketing, and books and printing services. Sanoma Oyj was founded in 1889 and is based in Helsinki, Finland.

Details
Name: Sanoma Oyj
SAA1V
Exchange: HLSE
Founded: 1889
€1,714,933,821
163,016,523
Website: http://www.sanoma.com
Address: Sanoma Oyj
Töölönlahdenkatu 2,
Helsinki,
Uusimaa, 00100,
Finland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
HLSE SAA1V Ordinary Shares OMX Nordic Exchange Helsinki FI EUR 04. May 1999
DB SNQB Ordinary Shares Deutsche Boerse AG DE EUR 04. May 1999
LSE 0JLQ Ordinary Shares London Stock Exchange GB EUR 04. May 1999
BATS-CHIXE SAA1VH Ordinary Shares BATS 'Chi-X Europe' GB EUR 04. May 1999
Number of employees
Current staff
Staff numbers
4,641
Sanoma Oyj employees.
Industry
Publishing
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/01/27 20:43
End of day share price update: 2020/01/27 00:00
Last estimates confirmation: 2020/01/22
Last earnings filing: 2019/10/25
Last earnings reported: 2019/09/30
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.