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Systemair

BATS-CHIXE:SYSRs
Snowflake Description

Adequate balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SYSRs
BATS-CHIXE
SEK6B
Market Cap
  1. Home
  2. GB
  3. Capital Goods
Company description

Systemair AB (publ), a ventilation company, designs, develops, manufactures, and markets ventilation products and systems. The last earnings update was 27 days ago. More info.


Add to Portfolio Compare Print
  • Systemair has significant price volatility in the past 3 months.
SYSRs Share Price and Events
7 Day Returns
2.2%
BATS-CHIXE:SYSRs
-1.6%
GB Building
0.1%
GB Market
1 Year Returns
14.2%
BATS-CHIXE:SYSRs
-10.8%
GB Building
-23.6%
GB Market
SYSRs Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Systemair (SYSRs) 2.2% -15.3% -34.3% 14.2% -16.7% 2.8%
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
  • SYSRs outperformed the Building industry which returned -10.8% over the past year.
  • SYSRs outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -23.6% over the past year.
Price Volatility
SYSRs
Industry
5yr Volatility vs Market

Value

 Is Systemair 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 Systemair 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 Systemair.

BATS-CHIXE:SYSRs 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 7.4%
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:SYSRs
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%) (35.41%))
1.254
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.25
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (1.254 * 5.44%)
7.35%

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

The calculations below outline how an intrinsic value for Systemair 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:SYSRs DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SEK, Millions) Source Present Value
Discounted (@ 7.35%)
2020 390.00 Analyst x3 363.28
2021 463.67 Analyst x3 402.32
2022 484.33 Analyst x3 391.46
2023 495.76 Est @ 2.36% 373.25
2024 504.74 Est @ 1.81% 353.98
2025 511.94 Est @ 1.43% 334.43
2026 517.87 Est @ 1.16% 315.13
2027 522.89 Est @ 0.97% 296.39
2028 527.27 Est @ 0.84% 278.40
2029 531.20 Est @ 0.75% 261.26
Present value of next 10 years cash flows SEK3,369.00
BATS-CHIXE:SYSRs DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= SEK531.20 × (1 + 0.53%) ÷ (7.35% – 0.53%)
SEK7,825.45
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SEK7,825.45 ÷ (1 + 7.35%)10
SEK3,848.79
BATS-CHIXE:SYSRs Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SEK3,369.00 + SEK3,848.79
SEK7,217.79
Equity Value per Share
(SEK)
= Total value / Shares Outstanding
= SEK7,217.79 / 52.00
SEK138.8
BATS-CHIXE:SYSRs Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:SYSRs represents 0.93109x of OM:SYSR
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.93109x
Value per Share
(Listing Adjusted, SEK)
= Value per Share (SEK) x Listing Adjustment Factor
= SEK 138.80 x 0.93109
SEK129.24
Value per share (SEK) From above. SEK129.24
Current discount Discount to share price of SEK121.60
= -1 x (SEK121.60 - SEK129.24) / SEK129.24
5.9%

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

Current Discount
Amount off the current price Systemair is available for.
Intrinsic value
6%
Share price is SEK121.6 vs Future cash flow value of SEK129.24
Current Discount Checks
For Systemair to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Systemair's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Systemair'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 Systemair's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Systemair's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:SYSRs PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2020-01-31) in SEK SEK8.88
OM:SYSR Share Price ** OM (2020-04-06) in SEK SEK130.6
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 Systemair.

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

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

= 130.6 ÷ 8.88

14.7x

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

  • Systemair is overvalued based on earnings compared to the GB Building industry average.
  • Systemair is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Systemair's expected growth come at a high price?
Raw Data
BATS-CHIXE:SYSRs PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.7x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
12.7%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:SYSRs PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.7x ÷ 12.7%

1.16x

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

  • Systemair is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Systemair's assets?
Raw Data
BATS-CHIXE:SYSRs PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2020-01-31) in SEK SEK60.20
OM:SYSR Share Price * OM (2020-04-06) in SEK SEK130.6
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:SYSRs PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 130.6 ÷ 60.20

2.17x

* Primary Listing of Systemair.

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

  • Systemair is overvalued based on assets compared to the GB Building industry average.
X
Value checks
We assess Systemair'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. Systemair 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 Systemair 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
12.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Systemair expected to grow at an attractive rate?
  • Systemair's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Systemair's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Systemair'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:SYSRs Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:SYSRs Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 12.7%
BATS-CHIXE:SYSRs Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 4.3%
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:SYSRs Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 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:SYSRs Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-04-30 10,531 1
2022-04-30 9,735 779 591 3
2021-04-30 9,259 760 492 3
2020-04-30 9,065 652 453 3
2020-04-07
BATS-CHIXE:SYSRs Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2020-01-31 9,028 763 462
2019-10-31 8,900 664 444
2019-07-31 8,568 480 377
2019-04-30 8,327 387 322
2019-01-31 8,010 335 255
2018-10-31 7,764 213 252
2018-07-31 7,477 226 227
2018-04-30 7,301 224 231
2018-01-31 7,207 215 247
2017-10-31 7,149 357 256
2017-07-31 7,055 424 270
2017-04-30 6,864 465 294

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Systemair's earnings are expected to grow by 12.7% yearly, however this is not considered high growth (20% yearly).
  • Systemair's revenue is expected to grow by 4.3% 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:SYSRs Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Systemair Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:SYSRs Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-04-30 14.10 14.10 14.10 1.00
2022-04-30 11.36 12.23 10.59 3.00
2021-04-30 9.45 9.82 8.96 3.00
2020-04-30 8.71 8.78 8.59 3.00
2020-04-07
BATS-CHIXE:SYSRs Past Financials Data
Date (Data in SEK Millions) EPS *
2020-01-31 8.88
2019-10-31 8.54
2019-07-31 7.24
2019-04-30 6.20
2019-01-31 4.90
2018-10-31 4.85
2018-07-31 4.37
2018-04-30 4.43
2018-01-31 4.76
2017-10-31 4.93
2017-07-31 5.20
2017-04-30 5.66

*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.
  • Systemair is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Systemair'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.
Systemair 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 Systemair 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 Systemair'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.
  • Systemair's year on year earnings growth rate has been positive over the past 5 years.
  • Systemair's 1-year earnings growth exceeds its 5-year average (81.3% vs 3.7%)
  • Systemair's earnings growth has exceeded the GB Building industry average in the past year (81.3% vs 2.5%).
Earnings and Revenue History
Systemair'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 Systemair Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:SYSRs Past Revenue, Cash Flow and Net Income Data
Date (Data in SEK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2020-01-31 9,027.80 462.00 2,402.80
2019-10-31 8,899.50 443.90 2,350.20
2019-07-31 8,567.80 376.50 2,279.40
2019-04-30 8,326.50 322.30 2,216.10
2019-01-31 8,009.70 254.80 2,170.00
2018-10-31 7,764.40 252.00 2,126.30
2018-07-31 7,476.70 227.40 2,060.80
2018-04-30 7,301.20 230.50 2,013.40
2018-01-31 7,207.30 247.30 1,995.50
2017-10-31 7,149.40 256.40 1,972.90
2017-07-31 7,054.90 270.30 1,956.90
2017-04-30 6,863.60 294.20 1,913.20
2017-01-31 6,639.00 293.20 1,832.80
2016-10-31 6,340.10 255.50 1,775.90
2016-07-31 6,195.30 226.00 1,748.00
2016-04-30 6,112.50 207.20 1,736.90
2016-01-31 6,106.30 208.80 1,758.30
2015-10-31 6,121.40 239.50 1,739.30
2015-07-31 6,051.50 270.30 1,711.60
2015-04-30 5,882.20 309.80 1,666.60
2015-01-31 5,638.40 547.70 1,585.40
2014-10-31 5,504.90 523.60 1,543.50
2014-07-31 5,364.90 499.60 1,504.00
2014-04-30 5,295.80 438.70 1,467.60
2014-01-31 5,160.90 195.30 1,426.60
2013-10-31 4,983.60 231.00 1,370.30
2013-07-31 4,784.70 227.30 1,314.20
2013-04-30 4,551.00 241.00 1,267.50

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Systemair is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Systemair's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Systemair'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 1.7x 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 Systemair Company Filings, last reported 2 months ago.

BATS-CHIXE:SYSRs Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2020-01-31 3,151.40 2,227.80 328.00
2019-10-31 3,092.60 2,508.50 321.00
2019-07-31 2,986.70 2,497.20 301.40
2019-04-30 2,839.20 2,245.90 251.40
2019-01-31 2,709.60 2,207.60 256.20
2018-10-31 2,664.90 2,315.80 431.90
2018-07-31 2,629.00 1,977.10 234.30
2018-04-30 2,620.30 1,973.90 215.00
2018-01-31 2,461.90 1,784.00 194.90
2017-10-31 2,434.20 1,759.50 208.30
2017-07-31 2,403.20 1,683.50 270.00
2017-04-30 2,381.30 1,555.40 245.00
2017-01-31 2,312.10 1,458.10 212.90
2016-10-31 2,358.20 1,648.00 229.30
2016-07-31 2,280.40 1,526.40 236.60
2016-04-30 2,108.20 1,505.70 182.30
2016-01-31 2,066.30 1,475.40 198.60
2015-10-31 2,101.10 1,514.70 242.30
2015-07-31 2,163.70 1,435.10 214.60
2015-04-30 2,082.20 1,385.70 193.70
2015-01-31 2,061.50 1,246.60 158.80
2014-10-31 2,010.40 1,290.00 188.70
2014-07-31 2,047.30 1,134.30 179.00
2014-04-30 1,880.90 1,040.90 127.00
2014-01-31 1,773.30 1,615.20 140.10
2013-10-31 1,744.50 1,680.40 151.20
2013-07-31 1,688.40 1,558.30 133.40
2013-04-30 1,576.00 1,310.30 105.60
  • Systemair's level of debt (70.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (60.5% vs 70.7% today).
  • Debt is well covered by operating cash flow (34.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 18.1x coverage).
X
Financial health checks
We assess Systemair'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. Systemair has a total score of 4/6, 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 Systemair'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
1.53%
Current annual income from Systemair dividends. Estimated to be 2.38% next year.
If you bought SEK2,000 of Systemair shares you are expected to receive SEK31 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?
  • Systemair's pays a lower dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.59%).
  • Systemair'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:SYSRs 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 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:SYSRs Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2023-04-30
2022-04-30 4.27 3.00
2021-04-30 3.09 3.00
2020-04-30 1.96 3.00
2020-04-07
BATS-CHIXE:SYSRs Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2019-08-08 2.000 1.403
2019-06-11 2.000 1.593
2018-08-31 2.000 1.944
2017-07-27 2.000 1.763
2016-07-27 2.000 1.542
2015-07-29 2.000 1.866
2014-07-29 1.500 1.370
2013-08-05 1.500 1.305
2013-06-11 1.500 1.429
2012-08-29 1.250 1.376
2011-08-25 1.750 2.231
2010-08-27 1.250 1.340
2009-09-11 0.750 1.133

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 increased over the past 10 years.
Current Payout to shareholders
What portion of Systemair's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.4x coverage).
X
Income/ dividend checks
We assess Systemair'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 Systemair afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Systemair has a total score of 3/6, see the detailed checks below.


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

Management

 What is the CEO of Systemair'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
Roland Kasper
COMPENSATION SEK4,300,000
AGE 50
TENURE AS CEO 4.7 years
CEO Bio

Mr. Roland Kasper has been the Group Chief Executive Officer of Systemair AB since August 27, 2015 and has been its President since August 24, 2016. Mr. Kasper served as a Vice President of Marketing for Products at Systemair AB since 2011. He served as Managing Director of Systemair AB (publ) since August 27, 2015 until August 24, 2016. Mr. Kasper served as Product Manager of FläktWoods Group and ABB Ventilation Products GmbH. He has Energy and Heating Technology Engineering Diploma from University of Applied Sciences Giessen-Friedberg, Germany.

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

Average tenure and age of the Systemair management team in years:

5.3
Average Tenure
52
Average Age
  • The average tenure for the Systemair management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Roland Kasper

TITLE
Group CEO & President
COMPENSATION
SEK4M
AGE
50
TENURE
4.7 yrs

Anders Ulff

TITLE
CFO & Secretary to the Board
AGE
52
TENURE
21.3 yrs

Mats Sandor

TITLE
Technical Director

Olle Glassel

TITLE
Vice President of Sales & Marketing
AGE
53
TENURE
5.3 yrs

Ivan Smolcic

TITLE
Managing Director and Head of Systemair Australia Pty Ltd

Mudassar Ali

TITLE
Group Controller

Bjorn Walther

TITLE
Managing Director of VEAB Heat Tech AB
TENURE
39.8 yrs

Pär Johansson

TITLE
Business Development Director of Data Center Cooling
COMPENSATION
SEK2M
TENURE
4.4 yrs
Board of Directors Tenure

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

4.7
Average Tenure
56
Average Age
  • The tenure for the Systemair board of directors is about average.
Board of Directors

Gerald Engström

TITLE
Chairman of the Board
COMPENSATION
SEK1M
AGE
71
TENURE
4.7 yrs

Carina Andersson

TITLE
Independent Director
COMPENSATION
SEK300K
AGE
55
TENURE
4.7 yrs

Patrik Nolåker

TITLE
Independent Director
COMPENSATION
SEK300K
AGE
56
TENURE
3.7 yrs

Svein Nilsen

TITLE
Independent Director
COMPENSATION
SEK300K
AGE
72
TENURE
3.7 yrs

Åke Henningsson

TITLE
Employee Representative Director
AGE
62
TENURE
4.7 yrs

Ricky Sten

TITLE
Employee Representative Director
AGE
51
TENURE
6.3 yrs

Gunilla Spongh

TITLE
Director
AGE
53
TENURE
0.7 yrs
Who owns this company?
Recent Insider Trading
  • Systemair individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (SEK) Value (SEK)
12. Jan 20 Sell Fredrik Andersson Individual 08. Jan 20 08. Jan 20 -1,012 SEK185.00 SEK-187,220
17. Dec 19 Sell Fredrik Andersson Individual 16. Dec 19 16. Dec 19 -1,177 SEK179.50 SEK-211,272
16. Dec 19 Sell Fredrik Andersson Individual 12. Dec 19 13. Dec 19 -2,811 SEK179.03 SEK-502,996
11. Dec 19 Sell Svein Nilsen Individual 11. Dec 19 11. Dec 19 -9,261 SEK170.00 SEK-1,574,370
17. Sep 19 Sell Kurt Maurer Individual 16. Sep 19 16. Sep 19 -10,000 SEK131.17 SEK-1,311,700
X
Management checks
We assess Systemair'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. Systemair 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

Systemair AB (publ), a ventilation company, designs, develops, manufactures, and markets ventilation products and systems. The company offers heating products comprising convectors and radiators, air curtains, radiant and fan heaters; fans and accessories, including circular duct, rectangular and square duct, roof, axial, explosion proof, domestic, and smoke extract fans, as well as electrical accessories for ventilation and fans for aggressive media; and residential systems, such as residential solutions, counter flow and rotary units, vacuum and geo thermal systems, ducts, cooker hoods, filters, valves and grilles, and accessories for residential systems. It also provides fire safety products comprising fire dampers, smoke dampers, and accessories for fire safety; air distribution products consisting of grilles, air volume controls, diffusers, and accessories; air handling units, such as compact and central AHUs; air conditioning systems, including hydronic (water born) systems and DX (refrigerant) systems. Its products are used in buildings, including homes, offices, industrial premises, data centers, hospitals, swimming pools, multi-storey car parks, and tunnels. The company sells its products to ventilation contractors, distributors of ventilation and electrical products, and ventilation consultants under the Systemair, Frico, Fantech, and Menerga brand names. The company has a strategic partnership with Panasonic Corporation. It has operations in Europe, North and South America, the Middle East, Asia, and South Africa. The company was founded in 1974 and is headquartered in Skinnskatteberg, Sweden.

Details
Name: Systemair AB (publ)
SYSRs
Exchange: BATS-CHIXE
Founded: 1974
SEK6,292,000,000
52,000,000
Website: http://www.systemair.com
Address: Systemair AB (publ)
Industrivagen 3,
Skinnskatteberg,
Västmanland County, 739 30,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM SYSR Class A Shares OMX Nordic Exchange Stockholm SE SEK 12. Oct 2007
DB 52S Class A Shares Deutsche Boerse AG DE EUR 12. Oct 2007
LSE 0HDK Class A Shares London Stock Exchange GB SEK 12. Oct 2007
BATS-CHIXE SYSRs Class A Shares BATS 'Chi-X Europe' GB SEK 12. Oct 2007
Number of employees
Current staff
Staff numbers
6,250
Systemair employees.
Industry
Building Products
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 19:45
End of day share price update: 2020/04/06 00:00
Last estimates confirmation: 2020/04/02
Last earnings filing: 2020/03/11
Last earnings reported: 2020/01/31
Last annual earnings reported: 2019/04/30


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.