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NCC

BATS-CHIXE:NCCBS
Snowflake Description

High growth potential with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NCCBS
BATS-CHIXE
SEK14B
Market Cap
  1. Home
  2. GB
  3. Capital Goods
Company description

NCC AB (publ) operates as a construction and property development company in Sweden, Norway, Denmark, and Finland. The last earnings update was 29 days ago. More info.


Add to Portfolio Compare Print
  • NCC has significant price volatility in the past 3 months.
NCCBS Share Price and Events
7 Day Returns
12.6%
BATS-CHIXE:NCCBS
3.8%
GB Construction
0.1%
GB Market
1 Year Returns
-1.8%
BATS-CHIXE:NCCBS
-34.1%
GB Construction
-23.6%
GB Market
NCCBS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
NCC (NCCBS) 12.6% -12.2% -4.5% -1.8% -35.9% -50.7%
GB Construction 3.8% -20.1% -22.7% -34.1% -57.8% -57.3%
GB Market 0.1% -15.5% -27% -23.6% -24.3% -23.5%
1 Year Return vs Industry and Market
  • NCCBS outperformed the Construction industry which returned -34.1% over the past year.
  • NCCBS outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -23.6% over the past year.
Price Volatility
NCCBS
Industry
5yr Volatility vs Market
Related Companies

NCCBS Value

 Is NCC 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 NCC 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 NCC.

BATS-CHIXE:NCCBS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.2%
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:NCCBS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 5.4%
Construction Unlevered Beta Simply Wall St/ S&P Global 0.86
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.863 (1 + (1- 22%) (30.63%))
1.046
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)
= 0.53% + (1.046 * 5.44%)
6.22%

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

The calculations below outline how an intrinsic value for NCC 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:NCCBS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SEK, Millions) Source Present Value
Discounted (@ 6.22%)
2020 1,247.00 Analyst x3 1,173.95
2021 2,359.67 Analyst x3 2,091.29
2022 2,312.33 Analyst x3 1,929.28
2023 2,285.82 Est @ -1.15% 1,795.43
2024 2,271.10 Est @ -0.64% 1,679.37
2025 2,264.48 Est @ -0.29% 1,576.37
2026 2,263.46 Est @ -0.05% 1,483.36
2027 2,266.35 Est @ 0.13% 1,398.23
2028 2,271.97 Est @ 0.25% 1,319.59
2029 2,279.53 Est @ 0.33% 1,246.42
Present value of next 10 years cash flows SEK15,693.00
BATS-CHIXE:NCCBS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= SEK2,279.53 × (1 + 0.53%) ÷ (6.22% – 0.53%)
SEK40,253.69
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SEK40,253.69 ÷ (1 + 6.22%)10
SEK22,010.16
BATS-CHIXE:NCCBS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SEK15,693.00 + SEK22,010.16
SEK37,703.16
Equity Value per Share
(SEK)
= Total value / Shares Outstanding
= SEK37,703.16 / 107.91
SEK349.41
BATS-CHIXE:NCCBS Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:NCCBS represents 0.99794x of OM:NCC B
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99794x
Value per Share
(Listing Adjusted, SEK)
= Value per Share (SEK) x Listing Adjustment Factor
= SEK 349.41 x 0.99794
SEK348.69
Value per share (SEK) From above. SEK348.69
Current discount Discount to share price of SEK145.60
= -1 x (SEK145.60 - SEK348.69) / SEK348.69
58.2%

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

Current Discount
Amount off the current price NCC is available for.
Intrinsic value
>50%
Share price is SEK145.6 vs Future cash flow value of SEK348.69
Current Discount Checks
For NCC to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • NCC's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • NCC's share price is below the future cash flow value, and 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 NCC's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are NCC's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:NCCBS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in SEK SEK8.08
OM:NCC B Share Price ** OM (2020-04-07) in SEK SEK145.9
United Kingdom of Great Britain and Northern Ireland Construction Industry PE Ratio Median Figure of 17 Publicly-Listed Construction Companies 7.67x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 748 Publicly-Listed Companies 12.61x

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

** Primary Listing of NCC.

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

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

= 145.9 ÷ 8.08

18.05x

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

  • NCC is overvalued based on earnings compared to the GB Construction industry average.
  • NCC is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does NCC's expected growth come at a high price?
Raw Data
BATS-CHIXE:NCCBS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.05x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
20.4%per year
United Kingdom of Great Britain and Northern Ireland Construction Industry PEG Ratio Median Figure of 9 Publicly-Listed Construction Companies 0.83x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 517 Publicly-Listed Companies 0.99x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.05x ÷ 20.4%

0.88x

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

  • NCC is good value based on expected growth next year.
Price based on value of assets
What value do investors place on NCC's assets?
Raw Data
BATS-CHIXE:NCCBS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in SEK SEK28.21
OM:NCC B Share Price * OM (2020-04-07) in SEK SEK145.9
United Kingdom of Great Britain and Northern Ireland Construction Industry PB Ratio Median Figure of 19 Publicly-Listed Construction Companies 1.06x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,323 Publicly-Listed Companies 1.11x
BATS-CHIXE:NCCBS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 145.9 ÷ 28.21

5.17x

* Primary Listing of NCC.

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

  • NCC is overvalued based on assets compared to the GB Construction industry average.
X
Value checks
We assess NCC'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 Construction 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 Construction industry average (and greater than 0)? (1 check)
  5. NCC has a total score of 3/6, 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.

NCCBS Future Performance

 How is NCC expected to perform in the next 1 to 3 years based on estimates from 3 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
20.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is NCC expected to grow at an attractive rate?
  • NCC's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • NCC's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • NCC'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:NCCBS Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:NCCBS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 20.4%
BATS-CHIXE:NCCBS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 3.1%
United Kingdom of Great Britain and Northern Ireland Construction Industry Earnings Growth Rate Market Cap Weighted Average 15.7%
United Kingdom of Great Britain and Northern Ireland Construction Industry Revenue Growth Rate Market Cap Weighted Average 3.7%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.5%
United Kingdom of Great Britain and Northern Ireland 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
BATS-CHIXE:NCCBS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 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:NCCBS Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 63,941 3,020 1,851 3
2021-12-31 61,912 3,343 1,771 3
2020-12-31 60,238 2,208 1,597 3
2020-04-07
BATS-CHIXE:NCCBS Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2019-12-31 58,234 2,214 873
2019-09-30 57,828 545 610
2019-06-30 58,146 805 -803
2019-03-31 57,886 263 -774
2018-12-31 57,346 -375 -756
2018-09-30 55,786 -954 -920
2018-06-30 54,592 144 319
2018-03-31 53,587 -294 383
2017-12-31 54,441 2,158 872
2017-09-30 54,687 3,445 1,410
2017-06-30 55,184 2,723 1,511
2017-03-31 55,485 4,047 1,545

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • NCC's earnings are expected to grow significantly at over 20% yearly.
  • NCC's revenue is expected to grow by 3.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BATS-CHIXE:NCCBS 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 3 Analyst Estimates (S&P Global) See Below

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

BATS-CHIXE:NCCBS Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 17.01 19.80 14.23 2.00
2021-12-31 16.36 18.51 14.21 3.00
2020-12-31 14.75 18.07 12.47 3.00
2020-04-07
BATS-CHIXE:NCCBS Past Financials Data
Date (Data in SEK Millions) EPS *
2019-12-31 8.08
2019-09-30 5.65
2019-06-30 -7.43
2019-03-31 -7.16
2018-12-31 -6.99
2018-09-30 -8.51
2018-06-30 2.95
2018-03-31 3.54
2017-12-31 8.07
2017-09-30 13.04
2017-06-30 13.98
2017-03-31 14.29

*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.
  • NCC is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess NCC'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.
NCC has a total score of 5/6, 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.

NCCBS Past Performance

  How has NCC 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 NCC's growth in the last year to its industry (Construction).
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.
  • NCC's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • NCC has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • NCC has become profitable in the last year making it difficult to compare the GB Construction industry average.
Earnings and Revenue History
NCC'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 NCC Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:NCCBS 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 58,234.00 873.00 2,811.00
2019-09-30 57,828.00 610.00 2,781.00
2019-06-30 58,146.00 -803.00 2,883.00
2019-03-31 57,886.00 -774.00 2,865.00
2018-12-31 57,346.00 -756.00 2,875.00
2018-09-30 55,786.00 -920.00 2,992.00
2018-06-30 54,592.00 319.00 2,881.00
2018-03-31 53,587.00 383.00 2,920.00
2017-12-31 54,441.00 872.00 2,933.00
2017-09-30 54,687.00 1,410.00 2,807.00
2017-06-30 55,184.00 1,511.00 2,799.00
2017-03-31 55,485.00 1,545.00 2,886.00
2016-12-31 52,934.00 1,113.00 2,879.00
2016-09-30 52,683.00 1,094.00 2,879.00
2016-06-30 52,431.00 1,283.00 2,894.00
2016-03-31 52,002.00 1,271.00 2,761.00
2015-12-31 53,116.00 1,315.00 2,721.00
2015-09-30 55,609.00 1,678.00 2,841.00
2015-06-30 57,084.00 1,803.00 2,937.00
2015-03-31 57,346.00 1,827.00 3,019.00
2014-12-31 56,867.00 1,835.00 3,105.00
2014-09-30 59,180.00 2,187.00 3,039.00
2014-06-30 57,514.00 2,102.00 3,056.00
2014-03-31 57,571.00 2,016.00 3,105.00
2013-12-31 57,823.00 1,986.00 3,123.00
2013-09-30 55,819.00 1,883.00 3,160.00
2013-06-30 56,455.00 1,840.00 3,095.00

*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.
  • NCC has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • NCC used its assets less efficiently than the GB Construction industry average last year based on Return on Assets.
  • NCC's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess NCC'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 Construction 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.
NCC has a total score of 1/6, 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.

NCCBS Health

 How is NCC'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 NCC's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • NCC is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • NCC's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of NCC'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 8.3x 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 NCC Company Filings, last reported 3 months ago.

BATS-CHIXE:NCCBS Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 3,044.00 4,364.00 2,742.00
2019-09-30 2,345.00 5,302.00 2,076.00
2019-06-30 2,543.00 3,285.00 987.00
2019-03-31 2,695.00 1,965.00 1,121.00
2018-12-31 2,948.00 1,899.00 1,495.00
2018-09-30 3,134.00 3,201.00 595.00
2018-06-30 4,513.00 3,339.00 752.00
2018-03-31 4,931.00 3,195.00 2,817.00
2017-12-31 5,180.00 2,170.00 3,104.00
2017-09-30 5,350.00 2,597.00 2,515.00
2017-06-30 5,093.00 2,658.00 2,237.00
2017-03-31 5,805.00 2,699.00 4,665.00
2016-12-31 5,566.00 2,649.00 3,283.00
2016-09-30 4,735.00 3,469.00 1,708.00
2016-06-30 4,610.00 4,013.00 2,493.00
2016-03-31 9,321.00 4,075.00 2,912.00
2015-12-31 9,714.00 8,709.00 4,367.00
2015-09-30 7,942.00 10,120.00 1,787.00
2015-06-30 7,638.00 10,038.00 729.00
2015-03-31 7,128.00 9,700.00 1,460.00
2014-12-31 8,867.00 9,186.00 2,834.00
2014-09-30 7,857.00 10,388.00 1,031.00
2014-06-30 7,501.00 10,199.00 1,424.00
2014-03-31 8,510.00 9,689.00 2,862.00
2013-12-31 8,675.00 9,267.00 3,691.00
2013-09-30 7,384.00 11,658.00 1,630.00
2013-06-30 6,755.00 11,168.00 1,363.00
  • NCC's level of debt (86.8%) 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 (103.9% vs 86.8% today).
  • Debt is well covered by operating cash flow (83.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 11.2x coverage).
X
Financial health checks
We assess NCC'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. NCC 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.

NCCBS Dividends

 What is NCC'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
1.71%
Current annual income from NCC dividends. Estimated to be 6.01% next year.
If you bought SEK2,000 of NCC shares you are expected to receive SEK34 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?
  • NCC's pays a lower dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.59%).
  • NCC's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (7.08%).
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:NCCBS 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 3 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Construction Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 5.8%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 588 Stocks 5.6%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.3%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2.6%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 7.1%

Industry and Market average data is calculated daily.

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

BATS-CHIXE:NCCBS Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 9.96 3.00
2021-12-31 9.00 3.00
2020-12-31 7.33 3.00
2020-04-07
BATS-CHIXE:NCCBS Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2020-02-28 2.500 1.879
2019-01-29 4.000 2.578
2018-03-06 8.000 5.397
2017-01-27 8.000 4.063
2016-01-28 3.000 1.280
2015-03-03 12.000 4.564
2015-01-27 12.000 4.259
2014-03-12 12.000 5.255
2014-01-30 12.000 5.607
2013-03-08 10.000 5.655
2012-03-01 10.000 7.607
2011-04-13 10.000 7.925
2010-04-13 6.000 4.365
2010-02-09 6.000 4.834

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 NCC's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
X
Income/ dividend checks
We assess NCC'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 NCC afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. NCC has a total score of 2/6, see the detailed checks below.


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

NCCBS Management

 What is the CEO of NCC'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
Tomas Carlsson
COMPENSATION SEK17,453,000
AGE 54
TENURE AS CEO 1.9 years
CEO Bio

Mr. Tomas Carlsson has been President and Chief Executive Officer of NCC AB (publ) since September 01, 2019 and served as its Head of NCC Property Development since July 22, 2019 until September 01, 2019. Mr. Carlsson is the Chief Executive Officer and President of SWECO Finland Oy.He served as President and Chief Executive Officer of Sweco AB until April 20, 2018. Mr. Carlsson served as Manager of New Markets business unit at NCC Roads AB. He served as Head of NCC Construction Sweden's Western Region. He served as the President of NCC Construction Sweden at NCC AB., since February 12, 2007. He joined NCC in 1991 and served several different positions within the Group, both in various business areas and in different markets. His previous positions include being active in NCC's projects in India and being responsible for NCC Roads' operations in Poland, the Baltic countries and St. Petersburg. He served as Chief Executive Officer NCC Construction Sweden. He serves as Chairman of the Boards of Sweco Sverige AB and Sweco Norway AS. He has been Chairman of Supervisory Board at Grontmij NV since 2015. He served as Chairman of the Construction Industry Association, Sweden. He served as Director of Sweco AB from 2012 to 2018. He holds a Master of Science in Engineering from the Chalmers Institute of Technology in Gothenburg and Executive MBA from London Business School and Columbia Business School.

CEO Compensation
  • Tomas's compensation has increased in line with NCC recently becoming profitable.
  • Tomas'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 NCC management team in years:

2.2
Average Tenure
54
Average Age
  • The tenure for the NCC management team is about average.
Management Team

Tomas Carlsson

TITLE
President & CEO
COMPENSATION
SEK17M
AGE
54
TENURE
1.9 yrs

Susanne Lithander

TITLE
Chief Financial Officer
AGE
58
TENURE
1.4 yrs

Ylva Lagesson

TITLE
Head of Development & Operations Services
AGE
48
TENURE
2.3 yrs

Johan Bergman

TITLE
Investor Relations Manager

Ann-Marie Hedbeck

TITLE
Senior Legal Counsel & Secretary of the Board
AGE
47
TENURE
2.5 yrs

Maria Grimberg

TITLE
Head of Corporate Communication

Marie Reifeldt

TITLE
Head of Human Resource

Harri Savolainen

TITLE
Chief Purchasing Officer
AGE
48
TENURE
2.1 yrs

Greeg Nordqvist

TITLE
Senior Vice President of Strategy
AGE
64

Jyri Salonen

TITLE
Head of NCC Industry
AGE
54
TENURE
3.6 yrs
Board of Directors Tenure

Average tenure and age of the NCC board of directors in years:

3
Average Tenure
57.5
Average Age
  • The tenure for the NCC board of directors is about average.
Board of Directors

Alf Göransson

TITLE
Chairman of the Board
COMPENSATION
SEK454K
AGE
62
TENURE
0.3 yrs

Harald Stjernström

TITLE
Project Manager of Building Dept. & Employee Representative Director
AGE
57
TENURE
1.8 yrs

Viveca Johnson

TITLE
Director
COMPENSATION
SEK500K
AGE
56
TENURE
6 yrs

Karl-Johan Andersson

TITLE
Employee Representative Director
AGE
55
TENURE
9.3 yrs

Karl-Gunnar Sivertsson

TITLE
Employee Representative Director
AGE
58
TENURE
11.3 yrs

Birgit Nørgaard

TITLE
Independent Director
COMPENSATION
SEK500K
AGE
61
TENURE
3 yrs

Geir Aarstad

TITLE
Independent Director
COMPENSATION
SEK600K
AGE
59
TENURE
3 yrs

Mats Jönsson

TITLE
Independent Director
COMPENSATION
SEK625K
AGE
62
TENURE
3 yrs

Angela Olsson

TITLE
Director
COMPENSATION
SEK625K
AGE
49
TENURE
2 yrs

Simon De Château

TITLE
Director
AGE
49
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by NCC individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (SEK) Value (SEK)
10. Mar 20 Buy Tomas Billing Individual 10. Mar 20 10. Mar 20 40,000 SEK156.07 SEK6,242,800
X
Management checks
We assess NCC'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. NCC 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.

NCCBS News

Simply Wall St News

NCCBS Company Info

Description

NCC AB (publ) operates as a construction and property development company in Sweden, Norway, Denmark, and Finland. It operates through five segments: NCC Building Sweden, NCC Building Nordic, NCC Infrastructure, NCC Industry, and NCC Property Development. The company builds housing and offices, as well as constructs schools, hospitals, stores, and warehouses. It also designs and constructs infrastructure projects, such as tunnels, roads, and railways. In addition, the company produces stone materials and asphalt, as well as engages in piling works and paving. Further, it develops and sells commercial properties in metropolitan regions in Sweden, Norway, Denmark, and Finland. The company is headquartered in Solna, Sweden.

Details
Name: NCC AB (publ)
NCCBS
Exchange: BATS-CHIXE
Founded:
SEK14,246,452,097
107,905,555
Website: http://www.ncc.se
Address: NCC AB (publ)
Herrjärva Torg 4,
Solna,
Stockholm County, 170 80,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM NCC B Series B Shares OMX Nordic Exchange Stockholm SE SEK 02. Jan 1992
DB NCGB Series B Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0OFP Series B Shares London Stock Exchange GB SEK 02. Jan 1992
BATS-CHIXE NCCBS Series B Shares BATS 'Chi-X Europe' GB SEK 02. Jan 1992
OM NCC A Series A Shares OMX Nordic Exchange Stockholm SE SEK 02. Jan 1992
LSE 0OFO Series A Shares London Stock Exchange GB SEK 02. Jan 1992
BATS-CHIXE NCCAS Series A Shares BATS 'Chi-X Europe' GB SEK 02. Jan 1992
Number of employees
Current staff
Staff numbers
13,926
NCC employees.
Industry
Construction and Engineering
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 21:06
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/02/11
Last earnings filing: 2020/03/09
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.