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ABG Sundal Collier Holding

OB:ASC
Snowflake Description

Good value with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ASC
OB
NOK2B
Market Cap
  1. Home
  2. NO
  3. Diversified Financials
Company description

ABG Sundal Collier Holding ASA, together with its subsidiaries, provides investment banking, stock broking, and corporate advisory services in Norway, Sweden, Denmark, and internationally. The last earnings update was 34 days ago. More info.


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ASC Share Price and Events
7 Day Returns
2.7%
OB:ASC
-0.4%
Europe Capital Markets
-1.7%
NO Market
1 Year Returns
-29.4%
OB:ASC
4.9%
Europe Capital Markets
-3.3%
NO Market
ASC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
ABG Sundal Collier Holding (ASC) 2.7% -1.1% 4.8% -29.4% -27.6% -27.9%
Europe Capital Markets -0.4% 2.5% 9.6% 4.9% 1.9% -15.3%
NO Market -1.7% 0.9% 6.8% -3.3% 20.8% 18.5%
1 Year Return vs Industry and Market
  • ASC underperformed the Capital Markets industry which returned 4.9% over the past year.
  • ASC underperformed the Market in Norway which returned -3.3% over the past year.
Price Volatility
ASC
Industry
5yr Volatility vs Market

Value

 Is ABG Sundal Collier Holding 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 ABG Sundal Collier Holding 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 ABG Sundal Collier Holding.

OB:ASC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= NOK1.58 * 29.4%
NOK0.46
Book Value of Equity per Share Median Book Value from the past 5 years. NOK1.58
Discount Rate (Cost of Equity) See below 7.1%
Perpetual Growth Rate 10-Year NO Government Bond Rate 1.8%

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 OB:ASC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NO Govt Bond Rate 1.8%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.753 (1 + (1- 23%) (15.51%))
0.894
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.76% + (0.894 * 5.96%)
7.09%

Discounted Cash Flow Calculation for OB:ASC using Excess Returns Model Model

The calculations below outline how an intrinsic value for ABG Sundal Collier Holding is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

OB:ASC Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (29.4% – 7.09%) * NOK1.58)
NOK0.35
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NOK0.35 / (7.09% - 1.76%)
NOK6.59
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NOK1.58 + NOK6.59
NOK8.17
OB:ASC Discount to Share Price
Calculation Result
Value per share (NOK) From above. NOK8.17
Current discount Discount to share price of NOK3.46
= -1 x (NOK3.46 - NOK8.17) / NOK8.17
57.7%

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

Current Discount
Amount off the current price ABG Sundal Collier Holding is available for.
Intrinsic value
>50%
Share price is NOK3.46 vs Future cash flow value of NOK8.17
Current Discount Checks
For ABG Sundal Collier Holding to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • ABG Sundal Collier Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • ABG Sundal Collier Holding'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 ABG Sundal Collier Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are ABG Sundal Collier Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:ASC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in NOK NOK0.33
OB:ASC Share Price ** OB (2019-11-19) in NOK NOK3.46
Europe Capital Markets Industry PE Ratio Median Figure of 130 Publicly-Listed Capital Markets Companies 21.43x
Norway Market PE Ratio Median Figure of 141 Publicly-Listed Companies 13.05x

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

** Primary Listing of ABG Sundal Collier Holding.

OB:ASC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 3.46 ÷ 0.33

10.38x

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

  • ABG Sundal Collier Holding is good value based on earnings compared to the Europe Capital Markets industry average.
  • ABG Sundal Collier Holding is good value based on earnings compared to the Norway market.
Price based on expected Growth
Does ABG Sundal Collier Holding's expected growth come at a high price?
Raw Data
OB:ASC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.38x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Capital Markets Industry PEG Ratio Median Figure of 57 Publicly-Listed Capital Markets Companies 1.49x
Norway Market PEG Ratio Median Figure of 106 Publicly-Listed Companies 0.7x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for ABG Sundal Collier Holding, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on ABG Sundal Collier Holding's assets?
Raw Data
OB:ASC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in NOK NOK1.44
OB:ASC Share Price * OB (2019-11-19) in NOK NOK3.46
Europe Capital Markets Industry PB Ratio Median Figure of 229 Publicly-Listed Capital Markets Companies 1.29x
Norway Market PB Ratio Median Figure of 234 Publicly-Listed Companies 1.07x
OB:ASC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 3.46 ÷ 1.44

2.4x

* Primary Listing of ABG Sundal Collier Holding.

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

  • ABG Sundal Collier Holding is overvalued based on assets compared to the Europe Capital Markets industry average.
X
Value checks
We assess ABG Sundal Collier Holding'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 Capital Markets 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 Capital Markets industry average (and greater than 0)? (1 check)
  5. ABG Sundal Collier Holding has a total score of 4/6, 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 ABG Sundal Collier Holding expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as ABG Sundal Collier Holding has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
16%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is ABG Sundal Collier Holding expected to grow at an attractive rate?
  • Unable to compare ABG Sundal Collier Holding's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare ABG Sundal Collier Holding's earnings growth to the Norway market average as no estimate data is available.
  • Unable to compare ABG Sundal Collier Holding's revenue growth to the Norway market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
OB:ASC Future Growth Rates Data Sources
Data Point Source Value (per year)
Europe Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 16%
Europe Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
Norway Market Earnings Growth Rate Market Cap Weighted Average 21.1%
Norway Market Revenue Growth Rate Market Cap Weighted Average 4.5%

*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
OB:ASC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OB:ASC Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
OB:ASC Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-09-30 1,108 125 152
2019-06-30 1,070 -72 141
2019-03-31 1,034 43 116
2018-12-31 1,108 -53 147
2018-09-30 1,225 131 200
2018-06-30 1,266 -16 218
2018-03-31 1,254 252 236
2017-12-31 1,261 433 240
2017-09-30 1,283 250 250
2017-06-30 1,254 876 235
2017-03-31 1,307 266 242
2016-12-31 1,227 203 211

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if ABG Sundal Collier Holding is high growth as no earnings estimate data is available.
  • Unable to determine if ABG Sundal Collier Holding is high growth as no revenue estimate data is available.
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
OB:ASC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from ABG Sundal Collier Holding Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:ASC Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
OB:ASC Past Financials Data
Date (Data in NOK Millions) EPS *
2019-09-30 0.33
2019-06-30 0.31
2019-03-31 0.25
2018-12-31 0.32
2018-09-30 0.43
2018-06-30 0.48
2018-03-31 0.52
2017-12-31 0.52
2017-09-30 0.54
2017-06-30 0.50
2017-03-31 0.52
2016-12-31 0.45

*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.
  • Unable to establish if ABG Sundal Collier Holding will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether ABG Sundal Collier Holding is trading at ABG Sundal Collier Holding'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. ABG Sundal Collier Holding's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Diversified Financials companies here
  3. ABG Sundal Collier Holding's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess ABG Sundal Collier Holding'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
ABG Sundal Collier Holding has a total score of 0/6, 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 ABG Sundal Collier Holding 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 ABG Sundal Collier Holding's growth in the last year to its industry (Capital Markets).
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.
  • ABG Sundal Collier Holding's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • ABG Sundal Collier Holding's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • ABG Sundal Collier Holding's 1-year earnings growth is negative, it can't be compared to the Europe Capital Markets industry average.
Earnings and Revenue History
ABG Sundal Collier Holding'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 ABG Sundal Collier Holding Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:ASC Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 1,108.44 152.49 858.47
2019-06-30 1,069.64 141.19 842.77
2019-03-31 1,033.54 115.99 808.87
2018-12-31 1,107.84 147.19 843.67
2018-09-30 1,224.55 200.10 893.20
2018-06-30 1,266.35 218.40 915.20
2018-03-31 1,254.45 236.30 916.90
2017-12-31 1,261.15 240.50 920.60
2017-09-30 1,283.32 250.18 936.53
2017-06-30 1,254.02 234.88 927.33
2017-03-31 1,307.22 242.38 967.63
2016-12-31 1,226.52 210.68 927.83
2016-09-30 1,199.62 179.68 917.89
2016-06-30 1,209.02 187.88 911.99
2016-03-31 1,234.72 203.98 911.39
2015-12-31 1,299.22 230.28 942.29
2015-09-30 1,297.77 261.85 911.54
2015-06-30 1,265.07 255.05 896.54
2015-03-31 1,171.67 229.35 849.34
2014-12-31 1,132.27 217.25 825.94
2014-09-30 1,005.55 168.27 745.93
2014-06-30 993.85 165.47 734.83
2014-03-31 936.95 143.07 707.83
2013-12-31 904.45 138.07 693.83
2013-09-30 870.80 154.34 715.80
2013-06-30 852.70 147.14 708.80
2013-03-31 861.20 151.34 711.70
2012-12-31 909.20 163.54 734.20

*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.
  • ABG Sundal Collier Holding has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • ABG Sundal Collier Holding used its assets more efficiently than the Europe Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if ABG Sundal Collier Holding improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess ABG Sundal Collier Holding'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 Capital Markets 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.
ABG Sundal Collier Holding 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 ABG Sundal Collier Holding'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 ABG Sundal Collier Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • ABG Sundal Collier Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • ABG Sundal Collier Holding's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of ABG Sundal Collier Holding'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 14.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

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

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

All data from ABG Sundal Collier Holding Company Filings, last reported 1 month ago.

OB:ASC Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 703.00 246.00 566.40
2019-06-30 653.90 59.00 275.30
2019-03-31 701.10 0.00 363.70
2018-12-31 697.63 0.00 551.41
2018-09-30 729.80 0.00 499.40
2018-06-30 712.20 0.00 579.00
2018-03-31 869.60 0.00 681.60
2017-12-31 915.72 0.00 985.47
2017-09-30 819.70 0.00 684.80
2017-06-30 723.70 0.00 904.40
2017-03-31 883.90 0.00 745.40
2016-12-31 875.96 0.00 995.25
2016-09-30 802.00 0.00 727.80
2016-06-30 780.00 396.50 710.40
2016-03-31 1,019.80 0.00 843.50
2015-12-31 997.72 0.00 1,144.99
2015-09-30 919.20 0.00 761.70
2015-06-30 874.00 139.20 563.50
2015-03-31 1,316.60 0.00 931.00
2014-12-31 1,248.20 0.00 1,014.22
2014-09-30 1,153.10 140.50 1,042.30
2014-06-30 1,122.30 134.50 1,000.40
2014-03-31 1,248.50 135.30 952.30
2013-12-31 1,195.82 67.47 980.79
2013-09-30 1,135.20 333.90 993.40
2013-06-30 1,104.10 385.50 896.10
2013-03-31 1,233.40 246.10 912.00
2012-12-31 1,189.58 81.30 838.34
  • ABG Sundal Collier Holding's level of debt (35%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (12% vs 35% today).
  • Debt is well covered by operating cash flow (51%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on ABG Sundal Collier Holding's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess ABG Sundal Collier Holding'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. ABG Sundal Collier Holding 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 ABG Sundal Collier Holding'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
9.83%
Current annual income from ABG Sundal Collier Holding dividends.
If you bought NOK2,000 of ABG Sundal Collier Holding shares you are expected to receive NOK197 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?
  • ABG Sundal Collier Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Norway (2.48%).
  • ABG Sundal Collier Holding's dividend is above the markets top 25% of dividend payers in Norway (6.08%).
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
OB:ASC 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 0 Analyst Estimates (S&P Global) See Below
Europe Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 107 Stocks 3.3%
Norway Market Average Dividend Yield Market Cap Weighted Average of 112 Stocks 4.4%
Norway Minimum Threshold Dividend Yield 10th Percentile 1.6%
Norway Bottom 25% Dividend Yield 25th Percentile 2.5%
Norway Top 25% Dividend Yield 75th Percentile 6.1%

Industry and Market average data is calculated daily.

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

OB:ASC Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
OB:ASC Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-10-16 0.340 9.927
2019-03-20 0.400 10.954
2019-02-13 0.400 9.587
2018-10-17 0.400 8.462
2018-07-13 0.400 6.939
2018-02-14 0.500 7.971
2017-02-14 0.500 8.879
2016-02-16 0.600 11.327
2015-04-30 0.500 7.764
2014-03-28 0.500 9.241
2014-02-14 0.500 9.158
2013-03-22 0.500 11.201
2013-02-12 0.500 10.429
2012-07-26 0.500 12.261
2012-05-02 0.500 13.589
2011-03-28 0.850 17.948
2011-02-14 0.850 10.747
2010-04-29 0.750 10.782
2009-02-17 0.500 7.547

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of ABG Sundal Collier Holding's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.9x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess ABG Sundal Collier Holding's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - 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 ABG Sundal Collier Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. ABG Sundal Collier Holding 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.

Management

 What is the CEO of ABG Sundal Collier Holding'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
Jonas Ström
COMPENSATION NOK6,580,000
TENURE AS CEO 0.6 years
CEO Bio

Mr. Jonas Ström serves as Chief Executive Officer of ABG Sundal Collier Holding ASA since April 2019 and also served as its Managing Partner of Sweden since 2018 until April 2019. He was Head of Investment Banking of Sweden at ABG Sundal Collier Holding ASA since June 2018 until 2018. Prior to his position in ABGSC, he was head of debt capital markets with Öhman and he has also worked as portfolio manager at Swedbank Robur. Ström has a MSc in Economics from Gothenburg School of Economics.

CEO Compensation
  • Jonas's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Jonas's remuneration is higher than average for companies of similar size in Norway.
Management Team Tenure

Average tenure and age of the ABG Sundal Collier Holding management team in years:

0.6
Average Tenure
47.5
Average Age
  • The average tenure for the ABG Sundal Collier Holding management team is less than 2 years, this suggests a new team.
Management Team

Knut Brundtland

TITLE
Executive Chairman
COMPENSATION
NOK7M
AGE
58

Jonas Ström

TITLE
Chief Executive Officer
COMPENSATION
NOK7M
TENURE
0.6 yrs

Geir Olsen

TITLE
Chief Financial Officer
COMPENSATION
NOK3M
AGE
41
TENURE
7.4 yrs

Are Andersen

TITLE
Head of Investment Banking
COMPENSATION
NOK8M
AGE
50

Christer Linde

TITLE
Co-head of Global Research
COMPENSATION
NOK4M

Per Flostrand

TITLE
Head of Equity Sales International
COMPENSATION
NOK6M

Hans Haukeli

TITLE
Head of Markets Norway
COMPENSATION
NOK8M

Douglas Miller

TITLE
Head of Compliance

Jessica Blink

TITLE
Head of Group Legal
TENURE
0.5 yrs

Johan Roth

TITLE
Head of Sales - London
COMPENSATION
NOK16M
AGE
45
Board of Directors Tenure

Average tenure and age of the ABG Sundal Collier Holding board of directors in years:

0.6
Average Tenure
58
Average Age
  • The average tenure for the ABG Sundal Collier Holding board of directors is less than 3 years, this suggests a new board.
Board of Directors

Knut Brundtland

TITLE
Executive Chairman
COMPENSATION
NOK7M
AGE
58
TENURE
0.5 yrs

Jan Collier

TITLE
Deputy Chairman
COMPENSATION
NOK210K
AGE
68

Adele Norman Bugge

TITLE
Independent Director
COMPENSATION
NOK285K
TENURE
2.6 yrs

Arild Engh

TITLE
Director
COMPENSATION
NOK200K
AGE
56

Martina Holmström

TITLE
Director
TENURE
0.6 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)
X
Management checks
We assess ABG Sundal Collier Holding'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. ABG Sundal Collier Holding 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

Do You Like ABG Sundal Collier Holding ASA (OB:ASC) At This P/E Ratio?

See our latest analysis for ABG Sundal Collier Holding How Do I Calculate A Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for ABG Sundal Collier Holding: P/E of 10.33 = NOK3.23 ÷ NOK0.31 (Based on the trailing twelve months to June 2019.) Is A High Price-to-Earnings Ratio Good? … ABG Sundal Collier Holding's earnings per share fell by 35% in the last twelve months.

Simply Wall St -

Do Insiders Own Shares In ABG Sundal Collier Holding ASA (OB:ASC)?

View our latest analysis for ABG Sundal Collier Holding OB:ASC Ownership Summary, July 17th 2019 What Does The Institutional Ownership Tell Us About ABG Sundal Collier Holding? … As you can see, institutional investors own 41% of ABG Sundal Collier Holding. … Insider Ownership Of ABG Sundal Collier Holding The definition of company insiders can be subjective, and does vary between jurisdictions.

Simply Wall St -

Is ABG Sundal Collier Holding ASA's (OB:ASC) 9.1% Dividend Sustainable?

Today we'll take a closer look at ABG Sundal Collier Holding ASA (OB:ASC) from a dividend investor's perspective. … In this case, ABG Sundal Collier Holding likely looks attractive to dividend investors, given its 9.1% dividend yield and nine-year payment history. … OB:ASC Historical Dividend Yield, April 25th 2019

Simply Wall St -

Read This Before Selling ABG Sundal Collier Holding ASA (OB:ASC) Shares

The Last 12 Months Of Insider Transactions At ABG Sundal Collier Holding. … In the last twelve months, the biggest single purchase by an insider was when Head of Investment Banking Are Andersen bought øre490k worth of shares at a price of øre6.03 per share. … As a general rule, we feel more positive about a stock when an insider has bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price

Simply Wall St -

What Type Of Shareholder Owns ABG Sundal Collier Holding ASA's (OB:ASC)?

The big shareholder groups in ABG Sundal Collier Holding ASA (OB:ASC) have power over the company. … ABG Sundal Collier Holding is not a large company by global standards. … See our latest analysis for ABG Sundal Collier Holding

Simply Wall St -

Does ABG Sundal Collier Holding ASA's (OB:ASC) CEO Pay Compare Well With Peers?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … View our latest analysis for ABG Sundal Collier Holding … How Does Knut Brundtland's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Do You Like ABG Sundal Collier Holding ASA (OB:ASC) At This P/E Ratio?

We'll look at ABG Sundal Collier Holding ASA's (OB:ASC) P/E ratio and reflect on what it tells us about the company's share price. … Based on the last twelve months, ABG Sundal Collier Holding's P/E ratio is 11.07. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Did ABG Sundal Collier Holding ASA (OB:ASC) Insiders Sell Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in ABG Sundal Collier Holding ASA (OB:ASC). … ABG Sundal Collier Holding Insider Transactions Over The Last Year. … Over the last year we saw more insider selling of ABG Sundal Collier Holding shares, than buying.

Simply Wall St -

Does ABG Sundal Collier Holding ASA's (OB:ASC) CEO Pay Reflect Performance?

Knut Brundtland has been the CEO of ABG Sundal Collier Holding ASA (OB:ASC) since 2010. … Our data indicates that ABG Sundal Collier Holding ASA is worth øre2.5b, and total annual CEO compensation is øre9m. … Thus we can conclude that Knut Brundtland receives more in total compensation than the median of a group of companies in the same market, and of similar size to ABG Sundal Collier Holding ASA

Simply Wall St -

Why ABG Sundal Collier Holding ASA (OB:ASC) Should Be Your Next Investment

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on ABG Sundal Collier Holding ASA (OB:ASC) due to its excellent fundamentals in more than one area.

Simply Wall St -

Company Info

Description

ABG Sundal Collier Holding ASA, together with its subsidiaries, provides investment banking, stock broking, and corporate advisory services in Norway, Sweden, Denmark, and internationally. It operates in two segments, Markets and Investment Banking. The Markets segment offers financial services, such as brokerage, trading, and execution of equities, convertible bonds, bonds, derivatives, structured products, and FX. The Investment Banking segment provides corporate advisory services, including ECM, DCM, mergers and acquisitions, and financial restructuring. The company also provides equity research, credit research, and corporate and strategic access services. ABG Sundal Collier Holding ASA was founded in 1984 and is headquartered in Oslo, Norway.

Details
Name: ABG Sundal Collier Holding ASA
ASC
Exchange: OB
Founded: 1984
NOK1,585,800,808
458,323,933
Website: http://www.abgsc.com
Address: ABG Sundal Collier Holding ASA
Munkedamsveien 45 East,
7th floor,
Oslo,
Oslo, 0250,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB ASC Common Shares Oslo Bors NO NOK 23. Oct 2001
OTCPK ABGS.F Common Shares Pink Sheets LLC US USD 23. Oct 2001
LSE 0IZM Common Shares London Stock Exchange GB NOK 23. Oct 2001
BATS-CHIXE ASCO Common Shares BATS 'Chi-X Europe' GB NOK 23. Oct 2001
Number of employees
Current staff
Staff numbers
270
ABG Sundal Collier Holding employees.
Industry
Investment Banking and Brokerage
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/19 20:35
End of day share price update: 2019/11/19 00:00
Last estimates confirmation: 2019/02/13
Last earnings filing: 2019/10/16
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


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.