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ASSA ABLOY

BATS-CHIXE:ASSABS
Snowflake Description

Excellent balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ASSABS
BATS-CHIXE
SEK191B
Market Cap
  1. Home
  2. GB
  3. Capital Goods
Company description

ASSA ABLOY AB (publ) provides door opening products, solutions, and services for the institutional, commercial, and residential markets in Europe, the Middle East, Africa, North and South America, Asia, and Oceania. The last earnings update was 18 days ago. More info.


Add to Portfolio Compare Print
  • ASSA ABLOY has significant price volatility in the past 3 months.
ASSABS Share Price and Events
7 Day Returns
-0.3%
BATS-CHIXE:ASSABS
1.8%
GB Building
-5.4%
GB Market
1 Year Returns
-15%
BATS-CHIXE:ASSABS
-12.2%
GB Building
-25.2%
GB Market
ASSABS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
ASSA ABLOY (ASSABS) -0.3% -20.4% -22.1% -15% -6.6% -6.1%
GB Building 1.8% -23.9% -27.9% -12.2% -23.2% -2.1%
GB Market -5.4% -20.6% -29.1% -25.2% -25.9% -25.1%
1 Year Return vs Industry and Market
  • ASSABS underperformed the Building industry which returned -12.2% over the past year.
  • ASSABS outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -25.2% over the past year.
Price Volatility
ASSABS
Industry
5yr Volatility vs Market

Value

 Is ASSA ABLOY 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 ASSA ABLOY 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 ASSA ABLOY.

BATS-CHIXE:ASSABS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 20 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.7%
Perpetual Growth Rate 10-Year GB Government Bond Rate 0.5%

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 BATS-CHIXE:ASSABS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 5.4%
Building Unlevered Beta Simply Wall St/ S&P Global 1.06
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.064 (1 + (1- 22%) (15.86%))
1.131
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (1.131 * 5.44%)
6.68%

Discounted Cash Flow Calculation for BATS-CHIXE:ASSABS using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for ASSA ABLOY 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.

BATS-CHIXE:ASSABS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SEK, Millions) Source Present Value
Discounted (@ 6.68%)
2020 10,809.76 Analyst x12 10,132.66
2021 10,871.78 Analyst x12 9,552.47
2022 11,982.97 Analyst x8 9,869.31
2023 12,793.00 Analyst x1 9,876.48
2024 13,235.00 Analyst x1 9,577.70
2025 13,544.91 Est @ 2.34% 9,187.99
2026 13,788.46 Est @ 1.8% 8,767.34
2027 13,983.93 Est @ 1.42% 8,334.68
2028 14,144.94 Est @ 1.15% 7,902.56
2029 14,281.43 Est @ 0.96% 7,479.04
Present value of next 10 years cash flows SEK90,680.00
BATS-CHIXE:ASSABS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= SEK14,281.43 × (1 + 0.53%) ÷ (6.68% – 0.53%)
SEK233,359.94
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SEK233,359.94 ÷ (1 + 6.68%)10
SEK122,208.25
BATS-CHIXE:ASSABS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SEK90,680.00 + SEK122,208.25
SEK212,888.25
Equity Value per Share
(SEK)
= Total value / Shares Outstanding
= SEK212,888.25 / 1,110.78
SEK191.66
BATS-CHIXE:ASSABS Discount to Share Price
Calculation Result
Value per share (SEK) From above. SEK191.66
Current discount Discount to share price of SEK172.05
= -1 x (SEK172.05 - SEK191.66) / SEK191.66
10.2%

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

Current Discount
Amount off the current price ASSA ABLOY is available for.
Intrinsic value
10%
Share price is SEK172.05 vs Future cash flow value of SEK191.66
Current Discount Checks
For ASSA ABLOY to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • ASSA ABLOY's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • ASSA ABLOY'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 ASSA ABLOY's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are ASSA ABLOY's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:ASSABS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in SEK SEK9.00
OM:ASSA B Share Price ** OM (2020-04-03) in SEK SEK172.05
United Kingdom of Great Britain and Northern Ireland Building Industry PE Ratio Median Figure of 10 Publicly-Listed Building Companies 10.87x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 748 Publicly-Listed Companies 12.44x

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

** Primary Listing of ASSA ABLOY.

BATS-CHIXE:ASSABS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 172.05 ÷ 9.00

19.12x

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

  • ASSA ABLOY is overvalued based on earnings compared to the GB Building industry average.
  • ASSA ABLOY is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does ASSA ABLOY's expected growth come at a high price?
Raw Data
BATS-CHIXE:ASSABS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 19.12x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts
5.3%per year
United Kingdom of Great Britain and Northern Ireland Building Industry PEG Ratio Median Figure of 7 Publicly-Listed Building Companies 0.45x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 518 Publicly-Listed Companies 0.97x

*Line of best fit is calculated by linear regression .

BATS-CHIXE:ASSABS PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 19.12x ÷ 5.3%

3.63x

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

  • ASSA ABLOY is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on ASSA ABLOY's assets?
Raw Data
BATS-CHIXE:ASSABS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in SEK SEK53.24
OM:ASSA B Share Price * OM (2020-04-03) in SEK SEK172.05
United Kingdom of Great Britain and Northern Ireland Building Industry PB Ratio Median Figure of 12 Publicly-Listed Building Companies 0.98x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,323 Publicly-Listed Companies 1.07x
BATS-CHIXE:ASSABS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 172.05 ÷ 53.24

3.23x

* Primary Listing of ASSA ABLOY.

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

  • ASSA ABLOY is overvalued based on assets compared to the GB Building industry average.
X
Value checks
We assess ASSA ABLOY'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 Building 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 Building industry average (and greater than 0)? (1 check)
  5. ASSA ABLOY has a total score of 0/6, 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 ASSA ABLOY expected to perform in the next 1 to 3 years based on estimates from 20 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
5.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is ASSA ABLOY expected to grow at an attractive rate?
  • ASSA ABLOY's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • ASSA ABLOY's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • ASSA ABLOY's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
BATS-CHIXE:ASSABS Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:ASSABS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts 5.3%
BATS-CHIXE:ASSABS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 20 Analysts 4%
United Kingdom of Great Britain and Northern Ireland Building Industry Earnings Growth Rate Market Cap Weighted Average 12.9%
United Kingdom of Great Britain and Northern Ireland Building Industry Revenue Growth Rate Market Cap Weighted Average 2.2%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.3%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 2.4%

*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
BATS-CHIXE:ASSABS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below
All numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BATS-CHIXE:ASSABS Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 106,391 1
2023-12-31 111,014 17,072 2
2022-12-31 105,475 14,316 11,738 14
2021-12-31 101,638 13,134 11,076 20
2020-12-31 94,092 12,538 10,559 20
2020-04-03
BATS-CHIXE:ASSABS Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2019-12-31 94,029 12,665 9,993
2019-09-30 92,249 12,708 9,103
2019-06-30 89,406 11,109 8,790
2019-03-31 87,003 9,964 3,008
2018-12-31 84,048 9,225 2,753
2018-09-30 80,990 10,371 3,510
2018-06-30 78,298 8,958 3,280
2018-03-31 76,545 8,915 8,678
2017-12-31 76,137 9,248 8,633
2017-09-30 75,512 8,062 7,113
2017-06-30 75,037 9,299 7,065
2017-03-31 73,544 9,612 6,907

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • ASSA ABLOY's earnings are expected to grow by 5.3% yearly, however this is not considered high growth (20% yearly).
  • ASSA ABLOY's revenue is expected to grow by 4% 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
BATS-CHIXE:ASSABS 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 20 Analyst Estimates (S&P Global) See Below

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

BATS-CHIXE:ASSABS Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 10.70 11.80 9.80 11.00
2021-12-31 10.08 11.61 9.00 17.00
2020-12-31 9.52 11.64 6.92 18.00
2020-04-03
BATS-CHIXE:ASSABS Past Financials Data
Date (Data in SEK Millions) EPS *
2019-12-31 9.00
2019-09-30 8.20
2019-06-30 7.91
2019-03-31 2.71
2018-12-31 2.48
2018-09-30 3.16
2018-06-30 2.95
2018-03-31 7.81
2017-12-31 7.77
2017-09-30 6.40
2017-06-30 6.36
2017-03-31 6.22

*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.
  • ASSA ABLOY is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess ASSA ABLOY'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 United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland 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.
ASSA ABLOY has a total score of 2/6, see the detailed checks below.

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

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

Past Performance

  How has ASSA ABLOY 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 ASSA ABLOY's growth in the last year to its industry (Building).
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.
  • ASSA ABLOY's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • ASSA ABLOY's 1-year earnings growth exceeds its 5-year average (263% vs -1.8%)
  • ASSA ABLOY's earnings growth has exceeded the GB Building industry average in the past year (263% vs 2.5%).
Earnings and Revenue History
ASSA ABLOY'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 ASSA ABLOY Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:ASSABS Past Revenue, Cash Flow and Net Income Data
Date (Data in SEK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 94,029.00 9,993.00 19,554.00 3,566.00
2019-09-30 92,249.00 9,103.00 19,863.00 2,893.00
2019-06-30 89,406.00 8,790.00 19,095.00 2,893.00
2019-03-31 87,003.00 3,008.00 18,802.00 2,893.00
2018-12-31 84,048.00 2,753.00 17,989.00 2,893.00
2018-09-30 80,990.00 3,510.00 17,596.00 2,244.00
2018-06-30 78,298.00 3,280.00 16,833.00 2,244.00
2018-03-31 76,545.00 8,678.00 15,832.00 2,244.00
2017-12-31 76,137.00 8,633.00 15,688.00 2,244.00
2017-09-30 75,512.00 7,113.00 15,964.00 2,218.00
2017-06-30 75,037.00 7,065.00 15,872.00 2,218.00
2017-03-31 73,544.00 6,907.00 15,530.00 2,218.00
2016-12-31 71,293.00 6,623.00 15,016.00 2,218.00
2016-09-30 70,109.00 7,879.00 14,315.00 1,932.00
2016-06-30 69,550.00 7,843.00 13,981.00 1,932.00
2016-03-31 68,738.00 7,712.00 13,760.00 1,932.00
2015-12-31 68,099.00 7,693.00 13,507.00 1,932.00
2015-09-30 65,646.00 7,461.00 13,393.00 1,545.00
2015-06-30 62,909.00 7,142.00 12,788.00 1,545.00
2015-03-31 59,790.00 6,788.00 12,064.00 1,545.00
2014-12-31 56,843.00 6,436.00 11,352.00 1,545.00
2014-09-30 54,238.00 5,336.00 11,085.00 1,390.00
2014-06-30 51,641.00 5,060.00 10,638.00 1,390.00
2014-03-31 49,918.00 4,898.00 10,285.00 1,390.00
2013-12-31 48,481.00 4,783.00 10,045.00 1,390.00
2013-09-30 47,478.00 5,399.00 9,720.00 1,344.00
2013-06-30 46,892.00 5,225.00 9,639.00 1,344.00

*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.
  • ASSA ABLOY has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • ASSA ABLOY used its assets more efficiently than the GB Building industry average last year based on Return on Assets.
  • ASSA ABLOY has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess ASSA ABLOY'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 Building 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.
ASSA ABLOY 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.

Health

 How is ASSA ABLOY'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 ASSA ABLOY's finances.

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

BATS-CHIXE:ASSABS Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 59,154.00 26,566.00 591.00
2019-09-30 57,954.00 29,943.00 459.00
2019-06-30 53,714.00 31,227.00 355.00
2019-03-31 55,127.00 28,758.00 414.00
2018-12-31 51,900.00 27,010.00 677.00
2018-09-30 50,041.00 29,231.00 559.00
2018-06-30 48,279.00 28,998.00 496.00
2018-03-31 53,920.00 24,984.00 551.00
2017-12-31 50,657.00 23,022.00 570.00
2017-09-30 47,297.00 22,928.00 440.00
2017-06-30 46,379.00 22,838.00 844.00
2017-03-31 48,993.00 21,012.00 697.00
2016-12-31 47,225.00 20,851.00 841.00
2016-09-30 44,985.00 22,859.00 604.00
2016-06-30 42,452.00 24,541.00 564.00
2016-03-31 42,555.00 22,428.00 578.00
2015-12-31 41,579.00 20,167.00 657.00
2015-09-30 39,939.00 22,937.00 648.00
2015-06-30 38,110.00 24,356.00 646.00
2015-03-31 39,515.00 22,249.00 515.00
2014-12-31 36,098.00 20,033.00 817.00
2014-09-30 33,010.00 20,702.00 809.00
2014-06-30 30,210.00 21,459.00 615.00
2014-03-31 29,766.00 19,829.00 498.00
2013-12-31 28,812.00 18,254.00 628.00
2013-09-30 27,527.00 16,330.00 619.00
2013-06-30 26,805.00 15,922.00 940.00
  • ASSA ABLOY's level of debt (44.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (55.5% vs 44.9% today).
  • Debt is well covered by operating cash flow (47.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 14.7x coverage).
X
Financial health checks
We assess ASSA ABLOY'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. ASSA ABLOY has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

Dividends

 What is ASSA ABLOY'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
0%
Current annual income from ASSA ABLOY dividends. Estimated to be 2.45% next year.
If you bought SEK2,000 of ASSA ABLOY shares you are expected to receive SEK0 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?
  • Unable to evaluate ASSA ABLOY's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate ASSA ABLOY's dividend against the top 25% market benchmark as the company has not reported any payouts.
Upcoming dividend payment

Purchase ASSA ABLOY before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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
BATS-CHIXE:ASSABS 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 20 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Building Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 3.3%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 608 Stocks 5.7%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.4%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2.7%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 7.6%

Industry and Market average data is calculated daily.

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

BATS-CHIXE:ASSABS Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31 5.00 1.00
2022-12-31 4.57 14.00
2021-12-31 4.24 21.00
2020-12-31 3.92 21.00
2020-04-03
BATS-CHIXE:ASSABS Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2020-03-16 0.000 0.000
2020-02-06 0.000 0.000
2019-03-19 3.500 1.638
2018-03-19 3.300 1.848
2017-03-20 3.000 1.674
2016-03-21 2.650 1.549
2015-03-30 2.167 1.305
2014-05-07 1.900 1.481
2013-04-26 1.700 1.673
2012-07-27 1.500 1.940
2012-03-20 1.500 2.309
2011-04-29 1.333 2.448
2010-04-22 1.200 2.105
2009-04-23 1.200 2.985

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

  • Unable to perform a dividend volatility check as ASSA ABLOY has not reported any payouts.
  • Unable to verify if ASSA ABLOY's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of ASSA ABLOY's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as ASSA ABLOY has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.3x coverage).
X
Income/ dividend checks
We assess ASSA ABLOY's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.4%) - 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 ASSA ABLOY afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. ASSA ABLOY has a total score of 1/6, 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 ASSA ABLOY'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
Nico Delvaux
COMPENSATION SEK42,558,000
AGE 53
TENURE AS CEO 2.1 years
CEO Bio

Mr. Nico Delvaux has been President, Chief Executive Officer and Head of Global Technologies Division of Assa Abloy AB since March 15, 2018. Mr. Delvaux served as Chief Executive Officer and President at Metso Corporation from August 1, 2017 to February 2, 2018. Mr. Delvaux served as Senior Executive Vice President at Atlas Copco AB since October 1, 2011 and served as its Business Area President of Compressor Technique since August 1, 2014. Mr. Delvaux served as the President at Atlas Copco Construction and Mining Technique LLC. He served as Acting President of Oil-Free Air at Atlas Copco AB. He served as the President of The Construction Technique Business at Atlas Copco AB until August 1, 2014. He served as the President of Compressor Technique Service Division of Atlas Copco Group since January 2008. He started his career with Atlas Copco in 1991 as a quality assurance engineer in the Oil-free Air division in Antwerp. He has managed positions in sales, marketing, aftermarket, quality management, acquisition-integration management and general management, in markets including Benelux, Italy, Canada and the United States. Mr. Delvaux holds M.Sc. in Electro­mechanics from the University of Brussels and an MBA from the Handelshogeschool in Antwerp, Belgium.

CEO Compensation
  • Nico's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Nico's remuneration is about average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the ASSA ABLOY management team in years:

3.2
Average Tenure
51
Average Age
  • The tenure for the ASSA ABLOY management team is about average.
Management Team

Nico Delvaux

TITLE
President
COMPENSATION
SEK43M
AGE
53
TENURE
2.1 yrs

Erik Pieder

TITLE
Executive VP & CFO
AGE
51
TENURE
1.3 yrs

David Simonsson

TITLE
Chief Operating Officer

Johan Warnstrom

TITLE
Chief Technology Officer

Björn Tibell

TITLE
Head of Investor Relations

Ann Holmberg

TITLE
Head of Corporate Communications
TENURE
17.8 yrs

Monica Nascimento

TITLE
Director of Marketing Communications

Maria Ewerth

TITLE
Executive VP & Chief Human Resources Officer
AGE
41
TENURE
6.3 yrs

Christophe Sut

TITLE
Executive VP & Head of Global Technologies Business Unit of Global Solutions
AGE
46
TENURE
3.8 yrs

Anders Maltesen

TITLE
Executive VP & Head of Asia Pacific Division
AGE
54
TENURE
2.6 yrs
Board of Directors Tenure

Average tenure and age of the ASSA ABLOY board of directors in years:

6.6
Average Tenure
59
Average Age
  • The tenure for the ASSA ABLOY board of directors is about average.
Board of Directors

Lars Renström

TITLE
Independent Chairman
COMPENSATION
SEK3M
AGE
68
TENURE
8 yrs

Carl Douglas

TITLE
Independent Vice Chairman
COMPENSATION
SEK900K
AGE
54
TENURE
8 yrs

Jan Svensson

TITLE
Independent Director
COMPENSATION
SEK1M
AGE
63
TENURE
8 yrs

Mats Persson

TITLE
Employee Representative Director
AGE
64
TENURE
26.3 yrs

Rune Hjälm

TITLE
Employee Representative Director
AGE
55
TENURE
3.3 yrs

Birgitta Klasén

TITLE
Independent Director
COMPENSATION
SEK885K
AGE
70
TENURE
11.8 yrs

Eva Karlsson

TITLE
Independent Director
COMPENSATION
SEK685K
AGE
53
TENURE
4.9 yrs

Sofia Högberg

TITLE
Independent Director
COMPENSATION
SEK885K
AGE
41
TENURE
3 yrs

Lena Olving

TITLE
Independent Director
COMPENSATION
SEK685K
AGE
63
TENURE
2 yrs

Bjarne Johansson

TITLE
Employee Representative Deputy Director
AGE
53
TENURE
5.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by ASSA ABLOY individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (SEK) Value (SEK)
18. Mar 20 Buy Lena Olving Individual 17. Mar 20 17. Mar 20 600 SEK182.05 SEK109,230
09. Feb 20 Buy Nico Delvaux Individual 07. Feb 20 07. Feb 20 4,500 SEK227.40 SEK1,023,300
29. Nov 19 Sell Christophe Sut Individual 29. Nov 19 29. Nov 19 -2,118 SEK227.80 SEK-482,480
31. Oct 19 Sell Stefan Widing Individual 31. Oct 19 31. Oct 19 -13,342 SEK231.45 SEK-3,088,006
30. Oct 19 Sell Stefan Widing Individual 29. Oct 19 29. Oct 19 -11,775 SEK228.22 SEK-2,687,291
22. May 19 Buy Erik Pieder Individual 21. May 19 21. May 19 1,266 SEK195.40 SEK247,376
22. May 19 Buy Neil Vann Individual 21. May 19 21. May 19 1,243 SEK195.40 SEK242,882
22. May 19 Buy Chris Bone Individual 21. May 19 21. May 19 1,792 SEK195.40 SEK350,157
22. May 19 Buy Christophe Sut Individual 21. May 19 21. May 19 2,413 SEK195.40 SEK471,500
22. May 19 Buy Anders Maltesen Individual 21. May 19 21. May 19 4,278 SEK195.40 SEK835,921
22. May 19 Buy Nico Delvaux Individual 21. May 19 21. May 19 13,050 SEK195.40 SEK2,549,970
21. May 19 Buy Lucas Boselli Individual 21. May 19 21. May 19 5,018 SEK195.40 SEK980,517
21. May 19 Buy Mogens Jensen Individual 21. May 19 21. May 19 3,716 SEK195.40 SEK726,106
21. May 19 Buy Stefan Widing Individual 21. May 19 21. May 19 5,269 SEK195.40 SEK1,029,563
21. May 19 Buy Maria Ewerth Individual 21. May 19 21. May 19 1,262 SEK195.40 SEK246,595
06. May 19 Sell Neil Vann Individual 03. May 19 03. May 19 -722 SEK205.22 SEK-148,169
03. May 19 Sell Stefan Widing Individual 02. May 19 02. May 19 -6,000 SEK203.06 SEK-1,218,360
30. Apr 19 Buy Lucas Boselli Individual 29. Apr 19 29. Apr 19 2,899 SEK202.78 SEK587,859
30. Apr 19 Sell Christophe Sut Individual 29. Apr 19 29. Apr 19 -2,283 SEK204.13 SEK-466,029
29. Apr 19 Buy Neil Vann Individual 26. Apr 19 26. Apr 19 1,505 SEK202.78 SEK305,184
29. Apr 19 Buy Mogens Jensen Individual 26. Apr 19 26. Apr 19 2,714 SEK202.78 SEK550,345
29. Apr 19 Buy Christophe Sut Individual 26. Apr 19 26. Apr 19 1,440 SEK202.78 SEK292,003
29. Apr 19 Buy Stefan Widing Individual 26. Apr 19 26. Apr 19 9,639 SEK202.78 SEK1,954,596
29. Apr 19 Buy Maria Ewerth Individual 26. Apr 19 26. Apr 19 2,134 SEK202.78 SEK432,733
27. Apr 19 Buy Chris Bone Individual 26. Apr 19 26. Apr 19 1,902 SEK202.78 SEK385,688
X
Management checks
We assess ASSA ABLOY'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. ASSA ABLOY 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

Company Info

Description

ASSA ABLOY AB (publ) provides door opening products, solutions, and services for the institutional, commercial, and residential markets in Europe, the Middle East, Africa, North and South America, Asia, and Oceania. The company offers mechanical and electromechanical locks, digital door locks, cylinders, door fittings, security doors, door frames, access control devices, secure lockers, and fire doors, as well as hardware products. It also provides identity solutions, including identity and access management, biometrics, authenticity and brand protection products, contactless RFID tags and transponders, and government IDs to companies, and government and state institutions, as well as healthcare, education, and financial industries; and secure access solutions for hotels, cruise ships, student accommodations, and elderly care facilities. In addition, the company offers entrance automation products, services, and components, such as automatic swing, sliding, and revolving doors; industrial doors; garage doors; high-performance doors; docking solutions; hangar doors; gate automation products; components for overhead sectional doors and sensors; and high security fencings and gates. ASSA ABLOY AB (publ) provides its products primarily under the ASSA ABLOY, Yale, HID, and ABLOY brands. The company sells its products through distributors, wholesalers, and home improvement stores. ASSA ABLOY AB (publ) was founded in 1994 and is based in Stockholm, Sweden.

Details
Name: ASSA ABLOY AB (publ)
ASSABS
Exchange: BATS-CHIXE
Founded: 1994
SEK191,109,068,264
1,110,776,334
Website: http://www.assaabloy.com
Address: ASSA ABLOY AB (publ)
Klarabergsviadukten 90,
Stockholm,
Stockholm County, Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM ASSA B Series B Shares OMX Nordic Exchange Stockholm SE SEK 09. Nov 1994
OTCPK ASAZ.F Series B Shares Pink Sheets LLC US USD 09. Nov 1994
DB ALZC Series B Shares Deutsche Boerse AG DE EUR 09. Nov 1994
LSE 0R87 Series B Shares London Stock Exchange GB SEK 09. Nov 1994
BMV 0R87 N Series B Shares Bolsa Mexicana de Valores MX MXN 09. Nov 1994
BATS-CHIXE ASSABS Series B Shares BATS 'Chi-X Europe' GB SEK 09. Nov 1994
OTCPK ASAZ.Y ADR Pink Sheets LLC US USD 30. Apr 2008
Number of employees
Current staff
Staff numbers
49,000
ASSA ABLOY employees.
Industry
Building Products
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 21:03
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/04/03
Last earnings filing: 2020/03/16
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.