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GrandVision

BATS-CHIXE:GVNVa
Snowflake Description

High growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GVNVa
BATS-CHIXE
€6B
Market Cap
  1. Home
  2. GB
  3. Retail
Company description

GrandVision N.V., together with its subsidiaries, operates optical retail chains in the Netherlands and internationally. The last earnings update was 32 days ago. More info.


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GVNVa Share Price and Events
7 Day Returns
-10%
BATS-CHIXE:GVNVa
-0.9%
GB Specialty Retail
0.1%
GB Market
1 Year Returns
14.9%
BATS-CHIXE:GVNVa
-31.7%
GB Specialty Retail
-23.6%
GB Market
GVNVa Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
GrandVision (GVNVa) -10% -17.8% -18.5% 14.9% -3.8% 3.9%
GB Specialty Retail -0.9% -29.3% -43.3% -31.7% -41.6% -47.1%
GB Market 0.1% -15.5% -27% -23.6% -24.3% -23.5%
1 Year Return vs Industry and Market
  • GVNVa outperformed the Specialty Retail industry which returned -31.7% over the past year.
  • GVNVa outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -23.6% over the past year.
Price Volatility
GVNVa
Industry
5yr Volatility vs Market
Related Companies

GVNVa Value

 Is GrandVision 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 GrandVision 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 GrandVision.

BATS-CHIXE:GVNVa Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.3%
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:GVNVa
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 5.4%
Specialty Retail Unlevered Beta Simply Wall St/ S&P Global 0.83
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.834 (1 + (1- 25%) (39.76%))
1.055
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.06
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (1.055 * 5.44%)
6.27%

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

The calculations below outline how an intrinsic value for GrandVision 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:GVNVa DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.27%)
2020 281.80 Analyst x2 265.17
2021 516.35 Analyst x2 457.21
2022 543.15 Analyst x2 452.56
2023 534.94 Est @ -1.51% 419.41
2024 530.12 Est @ -0.9% 391.11
2025 527.63 Est @ -0.47% 366.30
2026 526.73 Est @ -0.17% 344.10
2027 526.94 Est @ 0.04% 323.92
2028 527.92 Est @ 0.19% 305.38
2029 529.45 Est @ 0.29% 288.19
Present value of next 10 years cash flows €3,613.00
BATS-CHIXE:GVNVa DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €529.45 × (1 + 0.53%) ÷ (6.27% – 0.53%)
€9,271.15
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €9,271.15 ÷ (1 + 6.27%)10
€5,046.44
BATS-CHIXE:GVNVa Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €3,613.00 + €5,046.44
€8,659.44
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €8,659.44 / 253.65
€34.14
BATS-CHIXE:GVNVa Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:GVNVa represents 0.97614x of ENXTAM:GVNV
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.97614x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 34.14 x 0.97614
€33.32
Value per share (EUR) From above. €33.32
Current discount Discount to share price of €22.50
= -1 x (€22.50 - €33.32) / €33.32
32.5%

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

Current Discount
Amount off the current price GrandVision is available for.
Intrinsic value
32%
Share price is €22.5 vs Future cash flow value of €33.32
Current Discount Checks
For GrandVision to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • GrandVision's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • GrandVision'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 GrandVision's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are GrandVision's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:GVNVa PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €0.70
ENXTAM:GVNV Share Price ** ENXTAM (2020-04-06) in EUR €23.05
United Kingdom of Great Britain and Northern Ireland Specialty Retail Industry PE Ratio Median Figure of 23 Publicly-Listed Specialty Retail Companies 7.37x
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 GrandVision.

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

= ENXTAM:GVNV Share Price ÷ EPS (both in EUR)

= 23.05 ÷ 0.70

32.76x

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

  • GrandVision is overvalued based on earnings compared to the GB Specialty Retail industry average.
  • GrandVision is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does GrandVision's expected growth come at a high price?
Raw Data
BATS-CHIXE:GVNVa PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 32.76x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
22.9%per year
United Kingdom of Great Britain and Northern Ireland Specialty Retail Industry PEG Ratio Median Figure of 15 Publicly-Listed Specialty Retail Companies 0.69x
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:GVNVa PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 32.76x ÷ 22.9%

1.43x

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

  • GrandVision is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on GrandVision's assets?
Raw Data
BATS-CHIXE:GVNVa PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €4.64
ENXTAM:GVNV Share Price * ENXTAM (2020-04-06) in EUR €23.05
United Kingdom of Great Britain and Northern Ireland Specialty Retail Industry PB Ratio Median Figure of 36 Publicly-Listed Specialty Retail Companies 0.61x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,323 Publicly-Listed Companies 1.11x
BATS-CHIXE:GVNVa PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTAM:GVNV Share Price ÷ Book Value per Share (both in EUR)

= 23.05 ÷ 4.64

4.97x

* Primary Listing of GrandVision.

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

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

GVNVa Future Performance

 How is GrandVision expected to perform in the next 1 to 3 years based on estimates from 9 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
22.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is GrandVision expected to grow at an attractive rate?
  • GrandVision's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • GrandVision's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • GrandVision'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:GVNVa Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:GVNVa Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 22.9%
BATS-CHIXE:GVNVa Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 3.9%
United Kingdom of Great Britain and Northern Ireland Specialty Retail Industry Earnings Growth Rate Market Cap Weighted Average 15.7%
United Kingdom of Great Britain and Northern Ireland Specialty Retail Industry Revenue Growth Rate Market Cap Weighted Average 3.7%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.5%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 2.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
BATS-CHIXE:GVNVa Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BATS-CHIXE:GVNVa Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 4,459 697 283 5
2021-12-31 4,308 743 254 9
2020-12-31 3,867 477 99 9
2020-04-07
BATS-CHIXE:GVNVa Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 4,039 877 178
2019-09-30 3,941 754 177
2019-06-30 3,842 631 176
2019-03-31 3,782 540 196
2018-12-31 3,721 448 216
2018-09-30 3,662 407 218
2018-06-30 3,603 366 220
2018-03-31 3,527 353 224
2017-12-31 3,450 341 228
2017-09-30 3,408 392 228
2017-06-30 3,367 443 228
2017-03-31 3,342 437 230

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • GrandVision's earnings are expected to grow significantly at over 20% yearly.
  • GrandVision's revenue is expected to grow by 3.9% 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:GVNVa 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 9 Analyst Estimates (S&P Global) See Below

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

BATS-CHIXE:GVNVa Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 1.12 1.23 1.00 3.00
2021-12-31 1.05 1.18 0.90 6.00
2020-12-31 0.50 1.10 -0.40 7.00
2020-04-07
BATS-CHIXE:GVNVa Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 0.70
2019-09-30 0.70
2019-06-30 0.69
2019-03-31 0.77
2018-12-31 0.85
2018-09-30 0.86
2018-06-30 0.87
2018-03-31 0.88
2017-12-31 0.90
2017-09-30 0.90
2017-06-30 0.91
2017-03-31 0.91

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

GVNVa Past Performance

  How has GrandVision 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 GrandVision's growth in the last year to its industry (Specialty Retail).
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.
  • GrandVision's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • GrandVision's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • GrandVision's 1-year earnings growth is negative, it can't be compared to the GB Specialty Retail industry average.
Earnings and Revenue History
GrandVision'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 GrandVision Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:GVNVa Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 4,039.31 178.48 2,603.06
2019-09-30 3,940.69 177.45 2,521.77
2019-06-30 3,842.07 176.42 2,439.53
2019-03-31 3,781.52 196.35 2,409.00
2018-12-31 3,720.98 216.28 2,379.40
2018-09-30 3,662.11 218.15 2,341.48
2018-06-30 3,603.25 220.03 2,303.56
2018-03-31 3,526.55 223.98 2,252.27
2017-12-31 3,449.86 227.93 2,200.98
2017-09-30 3,408.49 227.89 2,154.10
2017-06-30 3,367.12 227.86 2,107.22
2017-03-31 3,341.60 229.61 2,082.93
2016-12-31 3,316.08 231.36 2,058.64
2016-09-30 3,289.95 226.35 2,036.90
2016-06-30 3,263.83 221.35 2,015.17
2016-03-31 3,234.36 217.04 1,997.53
2015-12-31 3,204.89 212.73 1,979.89
2015-09-30 3,130.19 197.14 1,979.48
2015-06-30 3,050.23 181.09 1,917.30
2015-03-31 2,933.61 171.15 1,852.33
2014-12-31 2,816.99 161.20 1,787.37
2014-09-30 2,739.47 159.82 1,715.55
2013-12-31 2,620.18 141.47 1,679.70

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

GVNVa Health

 How is GrandVision'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 GrandVision's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • GrandVision's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • GrandVision's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of GrandVision'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 not covered by short term assets, assets are 0.9x 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 GrandVision Company Filings, last reported 3 months ago.

BATS-CHIXE:GVNVa Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,264.26 914.39 162.90
2019-09-30 1,264.26 914.39 162.90
2019-06-30 1,146.38 1,033.40 167.42
2019-03-31 1,146.38 1,033.40 167.42
2018-12-31 1,252.47 882.78 138.26
2018-09-30 1,252.47 882.78 138.26
2018-06-30 1,141.41 1,022.16 193.44
2018-03-31 1,141.41 1,022.16 193.44
2017-12-31 1,120.55 992.30 164.68
2017-09-30 1,120.55 992.30 164.68
2017-06-30 1,017.84 1,105.34 352.68
2017-03-31 1,017.84 1,105.34 352.68
2016-12-31 1,006.57 933.70 181.10
2016-09-30 1,006.57 933.70 181.10
2016-06-30 871.36 1,100.73 187.83
2016-03-31 871.36 1,100.73 187.83
2015-12-31 831.78 1,137.48 198.30
2015-09-30 831.78 1,137.48 198.30
2015-06-30 793.83 956.24 90.77
2015-03-31 793.83 956.24 90.77
2014-12-31 668.22 1,055.93 134.10
2014-09-30 650.19 952.93 126.68
2013-12-31 546.05 937.75 102.56
  • GrandVision's level of debt (72.3%) 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 (157.5% vs 72.3% today).
  • Debt is well covered by operating cash flow (96%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 9.4x coverage).
X
Financial health checks
We assess GrandVision'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. GrandVision 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.

GVNVa Dividends

 What is GrandVision'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
1.52%
Current annual income from GrandVision dividends. Estimated to be 1.73% next year.
If you bought €2,000 of GrandVision shares you are expected to receive €30 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?
  • GrandVision's pays a lower dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.59%).
  • GrandVision'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:GVNVa 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 9 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Specialty Retail Industry Average Dividend Yield Market Cap Weighted Average of 22 Stocks 4.7%
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:GVNVa Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.45 5.00
2021-12-31 0.40 7.00
2020-12-31 0.36 8.00
2020-04-07
BATS-CHIXE:GVNVa Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2020-02-26 0.350 1.432
2019-03-08 0.330 1.381
2019-02-27 0.330 1.705
2018-03-09 0.320 1.604
2018-02-28 0.320 1.722
2017-02-20 0.310 1.419
2016-03-16 0.280 1.210
2015-08-20 0.280 1.130

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

  • Whilst dividend payments have been stable, GrandVision has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but GrandVision only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of GrandVision's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.6x coverage).
X
Income/ dividend checks
We assess GrandVision'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 GrandVision afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. GrandVision has a total score of 2/6, see the detailed checks below.


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

GVNVa Management

 What is the CEO of GrandVision'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
Stephan Borchert
COMPENSATION €1,619,328
AGE 50
TENURE AS CEO 2.2 years
CEO Bio

Mr. Stephan Borchert has been Chief Executive Officer at GrandVision NV since February 28, 2018 and has been its Member of the Management Board since January 15, 2018. Mr. Borchert was the General Manager of Southern & Western Europe at Douglas Holding AG. He served as a Member of the Management Board at Celesio AG since August 1, 2011 until September 22, 2014 and served as its Chief Marketing Officer until September 22, 2014. He served as Partner and Head of International Industry Practice Group Fashion, Retail & Lifestyle Industries at Roland Berger Strategy Consultants GmbH, Munich from May 1998 to December 2004. He served as President of Red Earth Ltd. from January 2005 to June 2008. He served as the Managing Director and General Manager of International at Parfümerie Douglas GmbH, Hagen from July 2008 to July 2011. He served as Project Manager of Organisation & Project Controlling at Peek & Cloppenburg KG, Düsseldorf from 1995 to 1998. He served as an Executive Director of Esprit Regional Services Ltd., Hong Kong from January 2005 to June 2008. As EMEA president of Sephora, he managed more than 1,000 locations in 23 countries.

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

Stephan Borchert

TITLE
CEO & Member of Management Board
COMPENSATION
€2M
AGE
50
TENURE
2.2 yrs

Willem Eelman

TITLE
CFO & Member of Management Board
COMPENSATION
€673K
AGE
55
TENURE
0.9 yrs

Thelke Gerdes

TITLE
Investor Relations Director
Board of Directors Tenure

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

9.3
Average Tenure
69
Average Age
  • The tenure for the GrandVision board of directors is about average.
Board of Directors

Kees van der Graaf

TITLE
Chairman of Supervisory Board
COMPENSATION
€73K
AGE
69

Mel Groot

TITLE
Vice-Chairman of Supervisory Board
COMPENSATION
€60K
AGE
60

Peter Bolliger

TITLE
Member of Supervisory Board
COMPENSATION
€60K
AGE
74
TENURE
9.3 yrs

Jeff Cole

TITLE
Member of Supervisory Board
COMPENSATION
€60K
AGE
78
TENURE
9.3 yrs

Rianne Meijerman

TITLE
Member of Supervisory Board
COMPENSATION
€33K
AGE
41
TENURE
1 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 (€) Value (€)
15. May 19 Buy Stephan Borchert Individual 15. May 19 15. May 19 5,000 €18.60 €93,000
X
Management checks
We assess GrandVision'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. GrandVision 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.

GVNVa News

Simply Wall St News

GVNVa Company Info

Description

GrandVision N.V., together with its subsidiaries, operates optical retail chains in the Netherlands and internationally. The company offers a range of optical services; prescription glasses, including frames and lenses; contact lenses; care products; and sunglasses comprising plain and with prescription lenses. It operates under 30 retail banners. As of February 27, 2019, the company operated approximately 7,095 optical retail stores. It also provides eye testing, examinations, and diagnostics services. The company was founded in 1891 and is headquartered in Schiphol, the Netherlands. GrandVision N.V. is a subsidiary of HAL Optical Investments B.V.

Details
Name: GrandVision N.V.
GVNVa
Exchange: BATS-CHIXE
Founded: 1891
€5,846,747,242
253,654,978
Website: http://www.grandvision.com
Address: GrandVision N.V.
The Base, Tower C,
6th Floor,
Schiphol,
Noord-Holland, 1118 CL,
Netherlands
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTAM GVNV Ordinary Shares Euronext Amsterdam NL EUR 06. Feb 2015
OTCPK GRRD.F Ordinary Shares Pink Sheets LLC US USD 06. Feb 2015
LSE 0R6J Ordinary Shares London Stock Exchange GB EUR 06. Feb 2015
BATS-CHIXE GVNVa Ordinary Shares BATS 'Chi-X Europe' GB EUR 06. Feb 2015
Number of employees
Current staff
Staff numbers
39,981
GrandVision employees.
Industry
Specialty Stores
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 19:51
End of day share price update: 2020/04/06 00:00
Last estimates confirmation: 2020/04/02
Last earnings filing: 2020/03/06
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.