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Veidekke

BATS-CHIXE:VEIO
Snowflake Description

High growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VEIO
BATS-CHIXE
NOK11B
Market Cap
  1. Home
  2. GB
  3. Capital Goods
Company description

Veidekke ASA operates as a construction and property development company in Norway, Sweden, and Denmark. The last earnings update was 9 days ago. More info.


Add to Portfolio Compare Print
  • Veidekke has significant price volatility in the past 3 months.
VEIO Share Price and Events
7 Day Returns
3.1%
BATS-CHIXE:VEIO
5.4%
GB Construction
1.7%
GB Market
1 Year Returns
-3.1%
BATS-CHIXE:VEIO
-30.5%
GB Construction
-21.8%
GB Market
VEIO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Veidekke (VEIO) 3.1% -12.8% -23.7% -3.1% -22.3% -
GB Construction 5.4% -14.8% -19.7% -30.5% -55.9% -54.8%
GB Market 1.7% -12% -25.3% -21.8% -22.8% -22.4%
1 Year Return vs Industry and Market
  • VEIO outperformed the Construction industry which returned -30.5% over the past year.
  • VEIO outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -21.8% over the past year.
Price Volatility
VEIO
Industry
5yr Volatility vs Market

Value

 Is Veidekke 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 Veidekke 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 Veidekke.

BATS-CHIXE:VEIO 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 6.4%
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:VEIO
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 0.88
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.882 (1 + (1- 23%) (34.93%))
1.08
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.08
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (1.08 * 5.44%)
6.4%

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

The calculations below outline how an intrinsic value for Veidekke 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:VEIO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (NOK, Millions) Source Present Value
Discounted (@ 6.4%)
2020 1,598.00 Analyst x1 1,501.83
2021 1,605.50 Analyst x2 1,418.07
2022 1,801.00 Analyst x1 1,495.01
2023 1,937.07 Est @ 7.56% 1,511.20
2024 2,042.60 Est @ 5.45% 1,497.62
2025 2,123.74 Est @ 3.97% 1,463.40
2026 2,186.17 Est @ 2.94% 1,415.76
2027 2,234.63 Est @ 2.22% 1,360.05
2028 2,272.86 Est @ 1.71% 1,300.07
2029 2,303.69 Est @ 1.36% 1,238.40
Present value of next 10 years cash flows NOK14,201.00
BATS-CHIXE:VEIO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NOK2,303.69 × (1 + 0.53%) ÷ (6.4% – 0.53%)
NOK39,429.20
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NOK39,429.20 ÷ (1 + 6.4%)10
NOK21,196.12
BATS-CHIXE:VEIO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NOK14,201.00 + NOK21,196.12
NOK35,397.12
Equity Value per Share
(NOK)
= Total value / Shares Outstanding
= NOK35,397.12 / 134.96
NOK262.29
BATS-CHIXE:VEIO Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:VEIO represents 1.06659x of OB:VEI
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.06659x
Value per Share
(Listing Adjusted, NOK)
= Value per Share (NOK) x Listing Adjustment Factor
= NOK 262.29 x 1.06659
NOK279.75
Value per share (NOK) From above. NOK279.75
Current discount Discount to share price of NOK89.70
= -1 x (NOK89.70 - NOK279.75) / NOK279.75
67.9%

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

Current Discount
Amount off the current price Veidekke is available for.
Intrinsic value
>50%
Share price is NOK89.7 vs Future cash flow value of NOK279.75
Current Discount Checks
For Veidekke to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Veidekke's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Veidekke'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 Veidekke's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Veidekke's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:VEIO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in NOK NOK3.01
OB:VEI Share Price ** OB (2020-04-07) in NOK NOK84.1
United Kingdom of Great Britain and Northern Ireland Construction Industry PE Ratio Median Figure of 17 Publicly-Listed Construction Companies 7.79x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 748 Publicly-Listed Companies 13x

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

** Primary Listing of Veidekke.

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

= OB:VEI Share Price ÷ EPS (both in NOK)

= 84.1 ÷ 3.01

27.97x

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

  • Veidekke is overvalued based on earnings compared to the GB Construction industry average.
  • Veidekke is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Veidekke's expected growth come at a high price?
Raw Data
BATS-CHIXE:VEIO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 27.97x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
31.5%per year
United Kingdom of Great Britain and Northern Ireland Construction Industry PEG Ratio Median Figure of 9 Publicly-Listed Construction Companies 0.88x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 518 Publicly-Listed Companies 1.02x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 27.97x ÷ 31.5%

0.89x

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

  • Veidekke is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Veidekke's assets?
Raw Data
BATS-CHIXE:VEIO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in NOK NOK29.45
OB:VEI Share Price * OB (2020-04-07) in NOK NOK84.1
United Kingdom of Great Britain and Northern Ireland Construction Industry PB Ratio Median Figure of 19 Publicly-Listed Construction Companies 1.09x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,323 Publicly-Listed Companies 1.13x
BATS-CHIXE:VEIO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:VEI Share Price ÷ Book Value per Share (both in NOK)

= 84.1 ÷ 29.45

2.86x

* Primary Listing of Veidekke.

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

  • Veidekke is overvalued based on assets compared to the GB Construction industry average.
X
Value checks
We assess Veidekke'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. Veidekke 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.

Future Performance

 How is Veidekke 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
31.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Veidekke expected to grow at an attractive rate?
  • Veidekke's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Veidekke's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Veidekke'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:VEIO Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:VEIO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 31.5%
BATS-CHIXE:VEIO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 2.8%
United Kingdom of Great Britain and Northern Ireland Construction Industry Earnings Growth Rate Market Cap Weighted Average 15.8%
United Kingdom of Great Britain and Northern Ireland Construction Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.6%
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:VEIO 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 NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BATS-CHIXE:VEIO Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 38,803 2,401 1,479 1
2021-12-31 39,959 2,256 1,376 2
2020-12-31 38,611 2,198 1,254 2
2020-04-08
BATS-CHIXE:VEIO Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-12-31 36,569 115 402
2019-09-30 37,987 -1,522 969
2019-06-30 37,541 -198 1,034
2019-03-31 36,974 245 507
2019-01-01 33,974 1,400 119
2018-09-30 33,906 1,914 700
2018-06-30 33,021 742 670
2018-03-31 31,760 919 1,119
2017-12-31 31,175 702 1,178
2017-09-30 30,565 902 956
2017-06-30 29,811 1,747 968
2017-03-31 29,562 1,627 977

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Veidekke's earnings are expected to grow significantly at over 20% yearly.
  • Veidekke's revenue is expected to grow by 2.8% 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:VEIO 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 Veidekke Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:VEIO Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 11.01 11.05 10.98 2.00
2021-12-31 10.24 10.34 10.10 3.00
2020-12-31 9.35 9.52 9.26 3.00
2020-04-08
BATS-CHIXE:VEIO Past Financials Data
Date (Data in NOK Millions) EPS *
2019-12-31 3.01
2019-09-30 7.22
2019-06-30 7.59
2019-03-31 3.72
2019-01-01 0.89
2018-09-30 5.23
2018-06-30 5.11
2018-03-31 8.25
2017-12-31 8.81
2017-09-30 7.24
2017-06-30 7.25
2017-03-31 7.51

*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.
  • Veidekke is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Veidekke'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.
Veidekke 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.

Past Performance

  How has Veidekke 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 Veidekke'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.
  • Veidekke's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Veidekke's 1-year earnings growth exceeds its 5-year average (221% vs -4.1%)
  • Veidekke's earnings growth has exceeded the GB Construction industry average in the past year (221% vs 6.6%).
Earnings and Revenue History
Veidekke'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 Veidekke Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:VEIO Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 36,569.00 402.00 8,047.00
2019-09-30 37,987.00 969.00 7,035.00
2019-06-30 37,541.00 1,034.00 7,035.00
2019-03-31 36,974.00 507.00 7,035.00
2019-01-01 33,974.00 119.00 6,794.00
2018-09-30 33,906.00 700.00 6,319.00
2018-06-30 33,021.00 670.00 6,319.00
2018-03-31 31,760.00 1,119.00 6,319.00
2017-12-31 31,175.00 1,178.00 6,319.00
2017-09-30 30,565.00 956.00 5,838.00
2017-06-30 29,811.00 968.00 5,838.00
2017-03-31 29,562.00 977.00 5,838.00
2016-12-31 28,613.00 887.00 5,838.00
2016-09-30 27,859.00 949.00 5,233.00
2016-06-30 26,362.00 768.00 5,233.00
2016-03-31 24,747.00 680.00 5,233.00
2015-12-31 24,225.00 765.00 5,233.00
2015-09-30 23,573.00 783.00 5,022.00
2015-06-30 23,809.00 836.00 5,022.00
2015-03-31 23,688.00 803.00 5,022.00
2014-12-31 24,027.00 843.00 5,022.00
2014-09-30 23,891.00 777.00 4,450.00
2014-06-30 23,618.70 751.40 4,450.00
2014-03-31 22,852.80 628.00 4,450.00
2013-12-31 21,781.00 544.00 4,450.00
2013-09-30 20,772.60 600.00 4,141.60
2013-06-30 20,519.40 513.60 4,141.60

*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.
  • Veidekke has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Veidekke used its assets less efficiently than the GB Construction industry average last year based on Return on Assets.
  • Veidekke's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Veidekke'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.
Veidekke has a total score of 2/6, 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 Veidekke'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 Veidekke's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Veidekke is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Veidekke's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Veidekke'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 4.7x 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 Veidekke Company Filings, last reported 3 months ago.

BATS-CHIXE:VEIO Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 3,998.00 3,119.00 241.00
2019-09-30 3,842.00 5,226.00 190.00
2019-06-30 3,453.00 4,637.00 181.00
2019-03-31 3,791.00 3,826.00 182.00
2019-01-01 3,984.00 1,884.00 197.00
2018-09-30 3,614.00 2,475.00 434.00
2018-06-30 3,133.00 3,268.00 583.00
2018-03-31 4,030.00 2,300.00 476.00
2017-12-31 4,220.00 1,373.00 392.00
2017-09-30 3,419.00 2,158.00 317.00
2017-06-30 3,171.00 1,765.00 412.00
2017-03-31 3,438.00 1,629.00 298.00
2016-12-31 3,465.00 1,006.00 644.00
2016-09-30 3,180.00 1,811.00 337.00
2016-06-30 2,827.00 2,242.00 415.00
2016-03-31 3,093.00 1,832.00 402.00
2015-12-31 3,218.00 1,310.00 402.00
2015-09-30 2,766.00 1,970.00 729.00
2015-06-30 2,455.00 2,020.00 736.00
2015-03-31 2,680.00 1,263.00 727.00
2014-12-31 2,744.00 878.00 847.00
2014-09-30 2,486.00 2,291.00 1,378.00
2014-06-30 2,220.50 1,980.30 862.90
2014-03-31 2,470.00 1,566.10 868.80
2013-12-31 2,466.00 1,475.00 764.00
2013-09-30 2,206.00 2,385.80 120.00
2013-06-30 1,890.50 2,220.50 118.30
  • Veidekke's level of debt (78%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (32.2% vs 78% today).
  • Debt is not well covered by operating cash flow (3.7%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 39.8x coverage).
X
Financial health checks
We assess Veidekke'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. Veidekke has a total score of 3/6, 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 Veidekke's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Veidekke dividends. Estimated to be 6.24% next year.
If you bought NOK2,000 of Veidekke shares you are expected to receive NOK0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Veidekke's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Veidekke's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:VEIO 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 5.4%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 588 Stocks 5.5%
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 2.5%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 6.9%

Industry and Market average data is calculated daily.

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

BATS-CHIXE:VEIO Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 5.50 2.00
2021-12-31 5.23 3.00
2020-12-31 5.09 3.00
2020-04-08
BATS-CHIXE:VEIO Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2020-03-30 0.000 0.000
2019-03-22 5.000 5.151
2018-02-08 5.000 5.664
2017-03-02 4.500 4.491
2016-04-18 4.000 3.453
2015-04-13 3.500 3.537
2015-02-12 3.500 3.843
2014-04-10 3.000 4.460
2013-04-15 2.500 5.128
2012-04-25 2.750 6.134
2012-02-16 2.750 5.915
2011-04-13 2.500 5.986
2010-08-12 2.500 5.178
2010-04-16 2.500 5.927
2010-02-11 2.500 5.114

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

  • Unable to perform a dividend volatility check as Veidekke has not reported any payouts.
  • Unable to verify if Veidekke's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Veidekke's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Veidekke has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Veidekke'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 Veidekke afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Veidekke has a total score of 1/6, see the detailed checks below.


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

Management

 What is the CEO of Veidekke'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
Jimmy Bengtsson
COMPENSATION NOK3,602,000
AGE 53
TENURE AS CEO 0.6 years
CEO Bio

Mr. Jimmy Bengtsson serves as Group Chief Executive Officer of Veidekke ASA since September 1,2019. Mr. Bengtsson served as Executive Vice President of Construction Sweden at Veidekke ASA since January 1, 2016 until 2019 and served as its Country manager of Sweden until 2019. Mr. Bengtsson served as Chief Executive Officer of Arcona since 2007 until 2015. He spent 16 years with Skanska. He holds MSc. in Civil Engineering from Kungliga Tekniska högskolan in Stockholm. He has worked in the construction industry during his entire career. He also has a long prior career in Skanska in Sweden. He has experience from the construction industry. By continuously improving results in the units he has led, he has proved that he has what it takes to strengthen Veidekke's position as one of Scandinavia's largest and leading construction and property development companies. He is a graduate engineer from the Royal Institute of Technology in Stockholm.

CEO Compensation
  • Jimmy's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Jimmy'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 Veidekke management team in years:

1.8
Average Tenure
51
Average Age
  • The average tenure for the Veidekke management team is less than 2 years, this suggests a new team.
Management Team

Jimmy Bengtsson

TITLE
Group Chief Executive Officer
COMPENSATION
NOK4M
AGE
53
TENURE
0.6 yrs

Terje Larsen

TITLE
CFO & Executive VP
COMPENSATION
NOK3M
AGE
58
TENURE
6.6 yrs

Lars Lund

TITLE
Executive VP of Communications
COMPENSATION
NOK3M
AGE
50
TENURE
3.5 yrs

Anne Thorbjørnsen

TITLE
Executive VP for HR & OHS
COMPENSATION
NOK2M
AGE
50
TENURE
1.5 yrs

Jørgen Porsmyr

TITLE
Executive Vice President of Project Development Skandinavia
COMPENSATION
NOK4M
AGE
47
TENURE
6.6 yrs

Hans Sørlie

TITLE
Executive Vice President of Building Construction Norway
COMPENSATION
NOK3M
AGE
54
TENURE
1.8 yrs

Øivind Larsen

TITLE
Executive Vice President of Civil Engineering Norway
COMPENSATION
NOK3M
AGE
56
TENURE
1.8 yrs

Catharina Bjerke

TITLE
Executive Vice President of Veidekke Industrial
COMPENSATION
NOK3M
AGE
51
TENURE
1.6 yrs

Siv Solheim

TITLE
Senior Vice President of Accounting & Controlling
AGE
44

Jørgen Michelet

TITLE
Head of Finance & IR
Board of Directors Tenure

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

4.9
Average Tenure
57
Average Age
  • The tenure for the Veidekke board of directors is about average.
Board of Directors

Svein Brandtzæg

TITLE
Chairman of the Board
AGE
62
TENURE
0.9 yrs

Gro Bakstad

TITLE
Director
COMPENSATION
NOK370K
AGE
53
TENURE
10.3 yrs

Inge Ramsdal

TITLE
Employee Representative Director
COMPENSATION
NOK1M
AGE
57
TENURE
12.3 yrs

Hans von Uthmann

TITLE
Director
COMPENSATION
NOK392K
AGE
61
TENURE
10.3 yrs

Odd Olsen

TITLE
Employee Representative Director
COMPENSATION
NOK1M
AGE
58
TENURE
9.3 yrs

Arve Fludal

TITLE
Employee Representative Director
COMPENSATION
NOK1M
AGE
49
TENURE
4.9 yrs

Inga Berglund

TITLE
Director
COMPENSATION
NOK341K
AGE
55
TENURE
4.3 yrs

Ingolv Høyland

TITLE
Director
COMPENSATION
NOK341K
AGE
68
TENURE
3.3 yrs

Tone Bachke

TITLE
Director
AGE
47
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NOK) Value (NOK)
25. Nov 19 Buy Mats Nyström Individual 25. Nov 19 25. Nov 19 1,500 NOK91.96 NOK137,940
25. Nov 19 Buy Anne Thorbjørnsen Individual 25. Nov 19 25. Nov 19 500 NOK91.96 NOK45,980
25. Nov 19 Buy Catharina Bjerke Individual 25. Nov 19 25. Nov 19 1,500 NOK91.96 NOK137,940
25. Nov 19 Buy Hans Sørlie Individual 25. Nov 19 25. Nov 19 1,000 NOK91.96 NOK91,960
25. Nov 19 Buy Arve Fludal Individual 25. Nov 19 25. Nov 19 900 NOK91.96 NOK82,764
25. Nov 19 Buy Terje Larsen Individual 25. Nov 19 25. Nov 19 900 NOK91.96 NOK82,764
25. Nov 19 Buy Odd Olsen Individual 25. Nov 19 25. Nov 19 700 NOK91.96 NOK64,372
25. Nov 19 Buy Øivind Larsen Individual 25. Nov 19 25. Nov 19 1,000 NOK91.96 NOK91,960
25. Nov 19 Buy Inge Ramsdal Individual 25. Nov 19 25. Nov 19 300 NOK91.96 NOK27,588
15. Nov 19 Buy Oslo Bolig Og Sparelag Company 15. Nov 19 15. Nov 19 100,000 NOK112.50 NOK11,249,890
14. Nov 19 Buy Hans von Uthmann Individual 14. Nov 19 14. Nov 19 83 NOK114.00 NOK9,462
14. Nov 19 Buy Tocaba AS Company 14. Nov 19 14. Nov 19 3,000 NOK112.00 NOK336,000
14. Nov 19 Buy Oslo Bolig Og Sparelag Company 14. Nov 19 14. Nov 19 100,000 NOK112.54 NOK11,254,410
21. Jun 19 Buy Stiftelsen Veidekkeansattes Aksjekjøp Company 20. Jun 19 20. Jun 19 10,000 NOK84.26 NOK842,600
20. Jun 19 Buy Stiftelsen Veidekkeansattes Aksjekjøp Company 19. Jun 19 19. Jun 19 10,000 NOK84.03 NOK840,300
19. Jun 19 Buy Stiftelsen Veidekkeansattes Aksjekjøp Company 18. Jun 19 18. Jun 19 10,000 NOK83.15 NOK831,500
14. Jun 19 Buy Stiftelsen Veidekkeansattes Aksjekjøp Company 13. Jun 19 13. Jun 19 10,000 NOK83.17 NOK831,700
13. Jun 19 Buy Stiftelsen Veidekkeansattes Aksjekjøp Company 12. Jun 19 12. Jun 19 15,000 NOK83.81 NOK1,257,150
06. Jun 19 Buy Stiftelsen Veidekkeansattes Aksjekjøp Company 05. Jun 19 05. Jun 19 15,000 NOK84.19 NOK1,262,850
29. May 19 Buy Stiftelsen Veidekkeansattes Aksjekjøp Company 28. May 19 28. May 19 13,000 NOK83.79 NOK1,089,270
29. May 19 Buy Stiftelsen Veidekkeansattes Aksjekjøp Company 29. May 19 29. May 19 6,000 NOK84.48 NOK506,880
28. May 19 Buy Stiftelsen Veidekkeansattes Aksjekjøp Company 27. May 19 27. May 19 15,000 NOK82.81 NOK1,242,150
28. May 19 Buy Svein Brandtzæg Individual 28. May 19 28. May 19 1,800 NOK83.90 NOK151,020
X
Management checks
We assess Veidekke'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. Veidekke 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

Veidekke ASA operates as a construction and property development company in Norway, Sweden, and Denmark. The company operates through Construction and Industrial segments. It undertakes various building construction, refurbishment, and civil engineering contracts; develops sites; and constructs non-residential and residential buildings. The company constructs office buildings, shopping centers, hotels, schools, health care buildings, cultural buildings, roads, railways, power plants, and industrial facilities. It also develops residential projects; operates and maintains public roads; and produces and sells asphalt and aggregates. The company was founded in 1936 and is headquartered in Oslo, Norway.

Details
Name: Veidekke ASA
VEIO
Exchange: BATS-CHIXE
Founded: 1936
NOK11,349,822,054
134,956,267
Website: http://www.veidekke.com
Address: Veidekke ASA
Skabos vei 4,
Oslo,
Oslo, 0214,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB VEI Common Shares Oslo Bors NO NOK 17. Jun 1992
OTCPK VDEK.F Common Shares Pink Sheets LLC US USD 17. Jun 1992
DB VK4 Common Shares Deutsche Boerse AG DE EUR 17. Jun 1992
LSE 0GF6 Common Shares London Stock Exchange GB NOK 17. Jun 1992
BATS-CHIXE VEIO Common Shares BATS 'Chi-X Europe' GB NOK 17. Jun 1992
Number of employees
Current staff
Staff numbers
8,309
Veidekke employees.
Industry
Construction and Engineering
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 19:57
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/03/31
Last earnings filing: 2020/03/30
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.