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NIBE Industrier

BATS-CHIXE:NIBEBZ
Snowflake Description

Excellent balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NIBEBZ
BATS-CHIXE
SEK79B
Market Cap
  1. Home
  2. GB
  3. Capital Goods
Company description

NIBE Industrier AB (publ), together with its subsidiaries, operates as a heating technology company in Nordic countries, Rest of Europe, North America, Australia, Asia, and internationally. The last earnings update was 54 days ago. More info.


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NIBEBZ Share Price and Events
7 Day Returns
0%
BATS-CHIXE:NIBEBZ
-1.6%
GB Building
0.1%
GB Market
1 Year Returns
-
BATS-CHIXE:NIBEBZ
-10.8%
GB Building
-23.6%
GB Market
NIBEBZ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
NIBE Industrier (NIBEBZ) 0% 0% - - 120.1% -
GB Building -1.6% -19.3% -26.3% -10.8% -22.8% -0.7%
GB Market 0.1% -15.5% -27% -23.6% -24.3% -23.5%
1 Year Return vs Industry and Market
  • No trading data on NIBEBZ.
  • No trading data on NIBEBZ.
Price Volatility
NIBEBZ
Industry
5yr Volatility vs Market
Related Companies

Value

 Is NIBE Industrier 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 NIBE Industrier 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 NIBE Industrier.

BATS-CHIXE:NIBEBZ Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.7%
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:NIBEBZ
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 1.08
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.081 (1 + (1- 22%) (13.55%))
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:NIBEBZ using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for NIBE Industrier 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:NIBEBZ DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SEK, Millions) Source Present Value
Discounted (@ 6.68%)
2020 2,039.50 Analyst x4 1,911.75
2021 2,560.75 Analyst x4 2,250.01
2022 2,842.00 Analyst x3 2,340.72
2023 3,037.19 Est @ 6.87% 2,344.79
2024 3,188.03 Est @ 4.97% 2,307.09
2025 3,303.93 Est @ 3.64% 2,241.20
2026 3,393.27 Est @ 2.7% 2,157.63
2027 3,462.89 Est @ 2.05% 2,063.98
2028 3,518.13 Est @ 1.6% 1,965.56
2029 3,563.01 Est @ 1.28% 1,865.95
Present value of next 10 years cash flows SEK21,448.00
BATS-CHIXE:NIBEBZ DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= SEK3,563.01 × (1 + 0.53%) ÷ (6.68% – 0.53%)
SEK58,221.87
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SEK58,221.87 ÷ (1 + 6.68%)10
SEK30,490.80
BATS-CHIXE:NIBEBZ Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SEK21,448.00 + SEK30,490.80
SEK51,938.80
Equity Value per Share
(SEK)
= Total value / Shares Outstanding
= SEK51,938.80 / 504.02
SEK103.05
BATS-CHIXE:NIBEBZ Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:NIBEBZ represents 0.11096x of OM:NIBE B
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11096x
Value per Share
(Listing Adjusted, CHF)
= Value per Share (SEK) x Listing Adjustment Factor
= SEK 103.05 x 0.11096
CHF11.43
Value per share (CHF) From above. CHF11.43
Current discount Discount to share price of CHF17.72
= -1 x (CHF17.72 - CHF11.43) / CHF11.43
-55%

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

  • The current share price of NIBE Industrier is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for NIBE Industrier's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are NIBE Industrier's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:NIBEBZ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in SEK SEK4.31
OM:NIBE B Share Price ** OM (2020-01-22) in SEK SEK159.7
United Kingdom of Great Britain and Northern Ireland Building Industry PE Ratio Median Figure of 10 Publicly-Listed Building Companies 10.55x
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 NIBE Industrier.

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

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

= 159.7 ÷ 4.31

37.09x

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

  • NIBE Industrier is overvalued based on earnings compared to the GB Building industry average.
  • NIBE Industrier is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does NIBE Industrier's expected growth come at a high price?
Raw Data
BATS-CHIXE:NIBEBZ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 37.09x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
9.3%per year
United Kingdom of Great Britain and Northern Ireland Building Industry PEG Ratio Median Figure of 7 Publicly-Listed Building Companies 0.43x
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:NIBEBZ PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 37.09x ÷ 9.3%

3.97x

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

  • NIBE Industrier is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on NIBE Industrier's assets?
Raw Data
BATS-CHIXE:NIBEBZ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in SEK SEK34.95
OM:NIBE B Share Price * OM (2020-01-22) in SEK SEK159.7
United Kingdom of Great Britain and Northern Ireland Building Industry PB Ratio Median Figure of 12 Publicly-Listed Building Companies 0.95x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,323 Publicly-Listed Companies 1.11x
BATS-CHIXE:NIBEBZ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 159.7 ÷ 34.95

4.57x

* Primary Listing of NIBE Industrier.

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

  • NIBE Industrier is overvalued based on assets compared to the GB Building industry average.
X
Value checks
We assess NIBE Industrier'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. NIBE Industrier 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 NIBE Industrier expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is NIBE Industrier expected to grow at an attractive rate?
  • NIBE Industrier's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • NIBE Industrier's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • NIBE Industrier'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:NIBEBZ Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:NIBEBZ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 9.3%
BATS-CHIXE:NIBEBZ Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 5.7%
United Kingdom of Great Britain and Northern Ireland Building Industry Earnings Growth Rate Market Cap Weighted Average 12.7%
United Kingdom of Great Britain and Northern Ireland Building Industry Revenue Growth Rate Market Cap Weighted Average 2%
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:NIBEBZ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 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:NIBEBZ Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 30,155 3,801 2,864 4
2021-12-31 28,751 3,500 2,663 5
2020-12-31 27,284 3,100 2,399 5
2020-04-07
BATS-CHIXE:NIBEBZ Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2019-12-31 25,342 2,958 2,170
2019-09-30 24,703 3,260 2,186
2019-06-30 24,139 2,811 2,161
2019-03-31 23,417 2,301 2,153
2018-12-31 22,516 1,888 2,074
2018-09-30 21,374 1,546 1,953
2018-06-30 20,233 1,555 1,828
2018-03-31 19,501 1,979 1,746
2017-12-31 19,009 2,123 1,703
2017-09-30 18,523 2,081 1,611
2017-06-30 18,014 2,109 1,547
2017-03-31 16,676 1,878 1,468

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • NIBE Industrier's earnings are expected to grow by 9.3% yearly, however this is not considered high growth (20% yearly).
  • NIBE Industrier's revenue is expected to grow by 5.7% 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:NIBEBZ 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 5 Analyst Estimates (S&P Global) See Below

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

BATS-CHIXE:NIBEBZ Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 5.68 6.23 5.10 4.00
2021-12-31 5.28 5.75 4.80 5.00
2020-12-31 4.76 5.30 4.22 5.00
2020-04-07
BATS-CHIXE:NIBEBZ Past Financials Data
Date (Data in SEK Millions) EPS *
2019-12-31 4.31
2019-09-30 4.34
2019-06-30 4.29
2019-03-31 4.27
2018-12-31 4.11
2018-09-30 3.87
2018-06-30 3.63
2018-03-31 3.46
2017-12-31 3.38
2017-09-30 3.22
2017-06-30 3.09
2017-03-31 3.03

*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.
  • NIBE Industrier is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess NIBE Industrier'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.
NIBE Industrier 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 NIBE Industrier 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 NIBE Industrier'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.
  • NIBE Industrier's year on year earnings growth rate has been positive over the past 5 years.
  • NIBE Industrier's 1-year earnings growth is less than its 5-year average (4.6% vs 16.6%)
  • NIBE Industrier's earnings growth has exceeded the GB Building industry average in the past year (4.6% vs 2.5%).
Earnings and Revenue History
NIBE Industrier'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 NIBE Industrier Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:NIBEBZ 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 25,342.00 2,170.00 5,522.00
2019-09-30 24,703.00 2,186.00 5,336.00
2019-06-30 24,139.00 2,161.00 5,222.00
2019-03-31 23,417.00 2,153.00 5,071.00
2018-12-31 22,516.00 2,074.00 4,870.00
2018-09-30 21,374.00 1,953.00 4,704.00
2018-06-30 20,233.00 1,828.00 4,512.00
2018-03-31 19,501.00 1,746.00 4,419.00
2017-12-31 19,009.00 1,703.00 4,346.00
2017-09-30 18,523.00 1,611.00 4,316.00
2017-06-30 18,014.00 1,547.00 4,220.00
2017-03-31 16,676.00 1,468.00 3,917.00
2016-12-31 15,348.00 1,376.00 3,646.00
2016-09-30 14,210.00 1,322.00 3,360.00
2016-06-30 13,471.00 1,278.00 3,229.00
2016-03-31 13,335.00 1,268.00 3,214.00
2015-12-31 13,243.00 1,237.00 3,199.00
2015-09-30 12,867.00 1,160.00 3,101.00
2015-06-30 12,310.00 1,090.00 3,000.00
2015-03-31 11,622.00 1,014.00 2,827.00
2014-12-31 11,033.00 982.00 2,655.00
2014-09-30 10,553.50 945.20 2,546.60
2014-06-30 10,259.40 904.30 2,440.80
2014-03-31 10,132.60 897.20 2,386.60
2013-12-31 9,834.00 858.00 2,310.00
2013-09-30 9,453.50 800.10 2,256.90
2013-06-30 9,179.80 760.10 2,217.90

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • NIBE Industrier is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • NIBE Industrier's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of NIBE Industrier's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

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

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

All data from NIBE Industrier Company Filings, last reported 3 months ago.

BATS-CHIXE:NIBEBZ Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 17,604.00 10,654.00 4,171.00
2019-09-30 17,724.00 10,668.00 3,849.00
2019-06-30 16,261.00 11,035.00 3,621.00
2019-03-31 16,377.00 10,190.00 3,166.00
2018-12-31 15,421.00 8,823.00 3,189.00
2018-09-30 14,690.00 9,340.00 2,400.00
2018-06-30 14,166.00 9,492.00 2,213.00
2018-03-31 13,670.00 9,160.00 2,915.00
2017-12-31 12,807.00 8,547.00 3,422.00
2017-09-30 11,933.00 8,741.00 2,375.00
2017-06-30 11,978.00 8,815.00 2,047.00
2017-03-31 12,369.00 8,621.00 2,335.00
2016-12-31 12,129.00 8,135.00 2,502.00
2016-09-30 8,426.00 10,897.00 1,805.00
2016-06-30 7,799.00 10,979.00 4,653.00
2016-03-31 7,590.00 7,847.00 1,830.00
2015-12-31 7,428.00 6,941.00 1,795.00
2015-09-30 7,204.00 8,080.00 1,913.00
2015-06-30 6,928.00 8,117.00 1,595.00
2015-03-31 7,049.00 8,362.00 1,895.00
2014-12-31 6,560.00 7,530.00 1,981.00
2014-09-30 6,169.90 7,425.40 1,683.30
2014-06-30 5,824.00 4,796.50 1,369.40
2014-03-31 5,724.60 4,589.90 1,578.80
2013-12-31 5,575.00 4,426.00 1,594.00
2013-09-30 5,119.50 4,706.50 1,096.70
2013-06-30 4,875.80 4,750.30 802.10
  • NIBE Industrier's level of debt (60.5%) 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 (114.8% vs 60.5% today).
  • Debt is well covered by operating cash flow (27.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 15x coverage).
X
Financial health checks
We assess NIBE Industrier'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. NIBE Industrier 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 NIBE Industrier'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
0.88%
Current annual income from NIBE Industrier dividends. Estimated to be 1.01% next year.
If you bought CHF2,000 of NIBE Industrier shares you are expected to receive CHF18 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?
  • NIBE Industrier's pays a lower dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.59%).
  • NIBE Industrier'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:NIBEBZ Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Building Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 2.7%
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:NIBEBZ Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 1.70 4.00
2021-12-31 1.64 5.00
2020-12-31 1.50 5.00
2020-04-07
BATS-CHIXE:NIBEBZ Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2020-02-13 1.400 0.945
2019-05-15 1.300 0.944
2018-05-17 1.050 1.029
2017-05-12 0.880 1.103
2016-04-11 0.838 1.164
2015-04-09 0.675 1.064
2014-05-16 0.588 1.202
2013-04-17 0.500 1.520
2012-05-11 0.500 1.987
2011-05-10 0.438 1.722
2010-05-18 0.325 1.537
2009-05-15 0.288 1.592

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

  • NIBE Industrier is not paying a notable dividend for United Kingdom of Great Britain and Northern Ireland, therefore no need to check if the payments are stable.
  • NIBE Industrier is not paying a notable dividend for United Kingdom of Great Britain and Northern Ireland, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of NIBE Industrier's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of NIBE Industrier's dividends as it is not paying a notable one for United Kingdom of Great Britain and Northern Ireland.
Future Payout to shareholders
  • No need to calculate the sustainability of NIBE Industrier's dividends in 3 years as they are not expected to pay a notable one for United Kingdom of Great Britain and Northern Ireland.
X
Income/ dividend checks
We assess NIBE Industrier'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 NIBE Industrier afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. NIBE Industrier has a total score of 0/6, 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 NIBE Industrier'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
Gerteric Lindquist
COMPENSATION SEK6,324,000
AGE 68
CEO Bio

Mr. Gerteric Lindquist serves as the Chief Executive Officer and Managing Director of NIBE Industrier AB (publ) and served as its President. Mr. Lindquist also serves as the Chief Executive Officer and Managing Director of NIBE AB. He has been the Chairman of Schulthess Group AG since 2011. He was employed by NIBE since 1988. He has been a Director of NIBE Industrier AB (publ) and NIBE AB since 1989. Mr. Lindquist holds an M.Sc. in Engineering and M.Sc. in Business & Economics.

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

Gerteric Lindquist

TITLE
CEO, MD & Director
COMPENSATION
SEK6M
AGE
68

Hans Backman

TITLE
Chief Financial Officer
AGE
53
TENURE
8.4 yrs

Christel Fritiofsson

TITLE
Head of Investor Relations

Kenneth Magnusson

TITLE
Chief Sustainability Officer

Leif Gustavsson

TITLE
Senior Advisor
AGE
74
Board of Directors Tenure

Average tenure and age of the NIBE Industrier board of directors in years:

7.3
Average Tenure
61.5
Average Age
  • The tenure for the NIBE Industrier board of directors is about average.
Board of Directors

Hans Linnarson

TITLE
Independent Chairman
COMPENSATION
SEK720K
AGE
67
TENURE
4.7 yrs

Gerteric Lindquist

TITLE
CEO, MD & Director
COMPENSATION
SEK6M
AGE
68
TENURE
31.3 yrs

Georg Brunstam

TITLE
Director
COMPENSATION
SEK360K
AGE
62
TENURE
17.3 yrs

Anders Pålsson

TITLE
Independent Director
COMPENSATION
SEK360K
AGE
61
TENURE
9.9 yrs

Helene Richmond

TITLE
Independent Director
COMPENSATION
SEK360K
AGE
59
TENURE
4.7 yrs

Jenny Sjödahl

TITLE
Independent director
COMPENSATION
SEK360K
AGE
46
TENURE
2.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by NIBE Industrier individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CHF) Value (CHF)
09. Mar 20 Buy Klas Dahlberg Individual 09. Mar 20 09. Mar 20 1,389 CHF14.19 CHF19,710
06. Mar 20 Buy Klas Dahlberg Individual 06. Mar 20 06. Mar 20 638 CHF15.67 CHF9,995
02. Mar 20 Buy Klas Dahlberg Individual 02. Mar 20 02. Mar 20 1,284 CHF15.68 CHF20,128
28. Feb 20 Buy Niklas Gunnarsson Individual 28. Feb 20 28. Feb 20 1,200 CHF15.75 CHF18,898
24. May 19 Buy Hans Backman Individual 24. May 19 24. May 19 2,030 CHF13.16 CHF26,716
X
Management checks
We assess NIBE Industrier'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. NIBE Industrier 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

NIBE Industrier AB (publ), together with its subsidiaries, operates as a heating technology company in Nordic countries, Rest of Europe, North America, Australia, Asia, and internationally. The company operates in three business areas: NIBE Climate Solutions, NIBE Element, and NIBE Stoves. The NIBE Climate Solutions business area manufactures and sells indoor climate comfort products, such as heat pumps, ventilation products and air conditioning, climate control systems, water heaters and accumulator tanks, district heating products, solar panels, domestic boilers, commercial washing machines, and tumble dryers for heating, cooling, heat recovery, and hot water applications in homes, apartment blocks, and commercial properties. The NIBE Element business area is involved in the manufacture and sale of components and solutions for measuring, controlling, and heating applications, which include tubular, aluminum, foil, thick film, PTC, high-power, and ceramic elements, as well as open spirals and tapes, heating cables and jackets, vacuum brazings, heat pump technology, resistors, and control equipment. The NIBE Stoves business area provides free-standing stoves, steel and stone surround inserts, wood-burning inserts for fireplaces, heat-retaining products, and chimney systems, as well as accessories comprising floor panels, wood storage, and connection pipes. NIBE Industrier AB (publ) is headquartered in Markaryd, Sweden.

Details
Name: NIBE Industrier AB (publ)
NIBEBZ
Exchange: BATS-CHIXE
Founded:
SEK7,586,616,095
504,016,622
Website: http://www.nibe.com
Address: NIBE Industrier AB (publ)
Hannabadsvägen 5,
Markaryd,
Kronoberg County, 285 21,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM NIBE B Class B Shares OMX Nordic Exchange Stockholm SE SEK 17. Jun 1997
OTCPK NDRB.F Class B Shares Pink Sheets LLC US USD 17. Jun 1997
DB NJBC Class B Shares Deutsche Boerse AG DE EUR 17. Jun 1997
LSE 0RH0 Class B Shares London Stock Exchange GB SEK 17. Jun 1997
SWX NIBEB Class B Shares SIX Swiss Exchange CH CHF 17. Jun 1997
BATS-CHIXE NIBEBZ Class B Shares BATS 'Chi-X Europe' GB CHF 17. Jun 1997
BATS-CHIXE NIBEBS Class B Shares BATS 'Chi-X Europe' GB SEK 17. Jun 1997
Number of employees
Current staff
Staff numbers
17,300
NIBE Industrier employees.
Industry
Building Products
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 20:02
End of day share price update: 2020/01/22 00:00
Last estimates confirmation: 2020/03/26
Last earnings filing: 2020/02/13
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.