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Gyldendal

OB:GYL
Snowflake Description

Flawless balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GYL
OB
NOK900M
Market Cap
  1. Home
  2. NO
  3. Retail
Company description

Gyldendal ASA, through its subsidiaries publishes and sells books in Norway. The last earnings update was 16 days ago. More info.


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GYL Share Price and Events
7 Day Returns
-4.9%
OB:GYL
-1.8%
Europe Specialty Retail
2.6%
NO Market
1 Year Returns
4.3%
OB:GYL
5.7%
Europe Specialty Retail
-9.1%
NO Market
GYL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Gyldendal (GYL) -4.9% 2.1% 2.1% 4.3% 56% 86.2%
Europe Specialty Retail -1.8% 7% 9.7% 5.7% -18.7% -10.5%
NO Market 2.6% 8% 2.6% -9.1% 31.3% 13.2%
1 Year Return vs Industry and Market
  • GYL underperformed the Specialty Retail industry which returned 5.7% over the past year.
  • GYL outperformed the Market in Norway which returned -9.1% over the past year.
Price Volatility
GYL
Industry
5yr Volatility vs Market
Related Companies

GYL Value

 Is Gyldendal 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 Gyldendal 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 Gyldendal.

OB:GYL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 8.6%
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:GYL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NO Govt Bond Rate 1.8%
Equity Risk Premium S&P Global 6%
Specialty Retail Unlevered Beta Simply Wall St/ S&P Global 0.85
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.854 (1 + (1- 23%) (55.34%))
1.146
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.15
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.76% + (1.146 * 5.96%)
8.59%

Discounted Cash Flow Calculation for OB:GYL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Gyldendal 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.

OB:GYL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (NOK, Millions) Source Present Value
Discounted (@ 8.59%)
2020 299.27 Est @ 67.21% 275.60
2021 441.66 Est @ 47.58% 374.54
2022 591.08 Est @ 33.83% 461.60
2023 734.18 Est @ 24.21% 528.00
2024 862.48 Est @ 17.48% 571.19
2025 972.54 Est @ 12.76% 593.13
2026 1,064.54 Est @ 9.46% 597.88
2027 1,140.66 Est @ 7.15% 589.95
2028 1,203.78 Est @ 5.53% 573.34
2029 1,256.76 Est @ 4.4% 551.22
Present value of next 10 years cash flows NOK5,116.00
OB:GYL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NOK1,256.76 × (1 + 1.76%) ÷ (8.59% – 1.76%)
NOK18,722.30
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NOK18,722.30 ÷ (1 + 8.59%)10
NOK8,211.64
OB:GYL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NOK5,116.00 + NOK8,211.64
NOK13,327.64
Equity Value per Share
(NOK)
= Total value / Shares Outstanding
= NOK13,327.64 / 2.31
NOK5776.72
OB:GYL Discount to Share Price
Calculation Result
Value per share (NOK) From above. NOK5,776.72
Current discount Discount to share price of NOK390.00
= -1 x (NOK390.00 - NOK5,776.72) / NOK5,776.72
93.2%

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

Current Discount
Amount off the current price Gyldendal is available for.
Intrinsic value
>50%
Share price is NOK390 vs Future cash flow value of NOK5776.72
Current Discount Checks
For Gyldendal to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Gyldendal's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Gyldendal'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 Gyldendal's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Gyldendal's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:GYL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in NOK NOK22.20
OB:GYL Share Price ** OB (2019-09-13) in NOK NOK390
Europe Specialty Retail Industry PE Ratio Median Figure of 79 Publicly-Listed Specialty Retail Companies 12.85x
Norway Market PE Ratio Median Figure of 149 Publicly-Listed Companies 13.32x

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

** Primary Listing of Gyldendal.

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

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

= 390 ÷ 22.20

17.57x

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

  • Gyldendal is overvalued based on earnings compared to the Europe Specialty Retail industry average.
  • Gyldendal is overvalued based on earnings compared to the Norway market.
Price based on expected Growth
Does Gyldendal's expected growth come at a high price?
Raw Data
OB:GYL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.57x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
10.9%per year
Europe Specialty Retail Industry PEG Ratio Median Figure of 55 Publicly-Listed Specialty Retail Companies 1.18x
Norway Market PEG Ratio Median Figure of 110 Publicly-Listed Companies 0.72x

*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 Gyldendal, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Gyldendal's assets?
Raw Data
OB:GYL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in NOK NOK302.20
OB:GYL Share Price * OB (2019-09-13) in NOK NOK390
Europe Specialty Retail Industry PB Ratio Median Figure of 116 Publicly-Listed Specialty Retail Companies 1.18x
Norway Market PB Ratio Median Figure of 238 Publicly-Listed Companies 1.13x
OB:GYL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 390 ÷ 302.20

1.29x

* Primary Listing of Gyldendal.

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

  • Gyldendal is overvalued based on assets compared to the Europe Specialty Retail industry average.
X
Value checks
We assess Gyldendal'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. Gyldendal has a total score of 2/6, 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.

GYL Future Performance

 How is Gyldendal expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Gyldendal, future earnings growth has been estimated based on fundamentals.
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
10.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Gyldendal expected to grow at an attractive rate?
  • Gyldendal's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
  • Gyldendal's earnings growth is positive but not above the Norway market average.
  • Unable to compare Gyldendal's revenue growth to the Norway market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
OB:GYL Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:GYL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 10.9%
Europe Specialty Retail Industry Earnings Growth Rate Market Cap Weighted Average 9.6%
Europe Specialty Retail Industry Revenue Growth Rate Market Cap Weighted Average 4.8%
Norway Market Earnings Growth Rate Market Cap Weighted Average 15.1%
Norway Market Revenue Growth Rate Market Cap Weighted Average 4%

*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:GYL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months 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:GYL Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-06-30 1,997 252 51
2019-03-31 1,981 191 47
2018-12-31 1,965 129 44
2018-09-30 1,935 48
2018-06-30 1,904 53 52
2018-03-31 1,876 91 61
2017-12-31 1,848 130 70
2017-09-30 1,836 70
2017-06-30 1,773 99 62
2017-03-31 1,792 110 70
2016-12-31 1,815 118 70
2016-09-30 1,815 115 55

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Gyldendal's earnings are expected to grow by 10.9% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Gyldendal 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:GYL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

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

OB:GYL Past Financials Data
Date (Data in NOK Millions) EPS *
2019-06-30 22.20
2019-03-31 20.53
2018-12-31 18.86
2018-09-30 21.06
2018-06-30 23.01
2018-03-31 26.71
2017-12-31 30.36
2017-09-30 30.35
2017-06-30 26.67
2017-03-31 30.21
2016-12-31 30.31
2016-09-30 23.80

*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 Gyldendal will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Gyldendal'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.
Gyldendal has a total score of 1/6, 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.

GYL Past Performance

  How has Gyldendal 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 Gyldendal'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.
  • Gyldendal's year on year earnings growth rate has been positive over the past 5 years.
  • Gyldendal's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Gyldendal's 1-year earnings growth is negative, it can't be compared to the Europe Specialty Retail industry average.
Earnings and Revenue History
Gyldendal'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 Gyldendal Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:GYL Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 1,997.14 51.22 532.84
2019-03-31 1,981.14 47.36 524.49
2018-12-31 1,965.15 43.51 516.14
2018-09-30 1,934.79 47.90 737.72
2018-06-30 1,904.32 52.16 716.87
2018-03-31 1,876.26 61.10 595.65
2017-12-31 1,848.20 70.03 474.44
2017-09-30 1,836.00 69.53 692.61
2017-06-30 1,772.60 61.91 455.40
2017-03-31 1,791.80 69.91 455.40
2016-12-31 1,814.60 69.91 455.40
2016-09-30 1,814.55 54.66 447.72
2016-06-30 1,812.35 52.46 447.72
2016-03-31 1,813.65 55.06 447.72
2015-12-31 1,812.55 60.76 447.72
2015-09-30 1,788.78 59.07 431.80
2015-06-30 1,750.48 41.77 431.80
2015-03-31 1,707.38 18.97 431.80
2014-12-31 1,677.28 9.87 431.80
2014-09-30 1,670.59 16.81 427.85
2014-06-30 1,634.29 9.81 427.85
2014-03-31 1,644.09 24.71 427.85
2013-12-31 1,638.19 30.51 427.85
2013-09-30 1,690.51 13.73 476.48
2013-06-30 1,767.21 16.83 476.48
2013-03-31 1,795.21 20.13 476.48
2012-12-31 1,871.91 34.23 476.48
2012-09-30 1,810.11 24.29 434.61

*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.
  • Gyldendal has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Gyldendal used its assets less efficiently than the Europe Specialty Retail industry average last year based on Return on Assets.
  • Gyldendal's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Gyldendal'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.
Gyldendal has a total score of 1/6, 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.

GYL Health

 How is Gyldendal'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 Gyldendal's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Gyldendal is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Gyldendal's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Gyldendal'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.
  • Gyldendal has no debt, it does not need to be covered by short term assets.
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 Gyldendal Company Filings, last reported 2 months ago.

OB:GYL Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 697.22 0.00 39.84
2019-03-31 697.22 0.00 39.84
2018-12-31 798.05 0.00 319.77
2018-09-30 798.05 0.00 319.77
2018-06-30 654.00 106.00 32.00
2018-03-31 654.00 106.00 32.00
2017-12-31 757.39 115.00 354.29
2017-09-30 757.39 115.00 354.29
2017-06-30 617.00 120.00 121.00
2017-03-31 617.00 120.00 121.00
2016-12-31 704.55 125.00 368.96
2016-09-30 636.00 125.00 49.00
2016-06-30 570.00 130.00 87.00
2016-03-31 618.00 130.00 189.00
2015-12-31 653.69 185.00 376.48
2015-09-30 588.00 185.00 25.00
2015-06-30 529.00 190.00 25.00
2015-03-31 560.00 195.00 79.00
2014-12-31 593.33 195.00 209.86
2014-09-30 562.00 200.00 32.00
2014-06-30 519.00 200.00 35.00
2014-03-31 586.00 145.00 33.00
2013-12-31 625.64 145.00 100.30
2013-09-30 536.60 0.00 282.10
2013-06-30 502.40 0.00 121.30
2013-03-31 556.30 0.00 264.80
2012-12-31 586.30 155.00 345.11
2012-09-30 554.60 0.00 396.10
  • Gyldendal has no debt.
  • Gyldendal has no debt compared to 5 years ago when it was 38.5%.
  • Gyldendal has no debt, it does not need to be covered by operating cash flow.
  • Gyldendal has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Gyldendal'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. Gyldendal has a total score of 6/6, 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.

GYL Dividends

 What is Gyldendal'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
1.79%
Current annual income from Gyldendal dividends.
If you bought NOK2,000 of Gyldendal shares you are expected to receive NOK36 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?
  • Gyldendal's pays a lower dividend yield than the bottom 25% of dividend payers in Norway (2.49%).
  • Gyldendal's dividend is below the markets top 25% of dividend payers in Norway (6.47%).
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:GYL 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 Specialty Retail Industry Average Dividend Yield Market Cap Weighted Average of 63 Stocks 3.5%
Norway Market Average Dividend Yield Market Cap Weighted Average of 115 Stocks 4.5%
Norway Minimum Threshold Dividend Yield 10th Percentile 1.5%
Norway Bottom 25% Dividend Yield 25th Percentile 2.5%
Norway Top 25% Dividend Yield 75th Percentile 6.5%

Industry and Market average data is calculated daily.

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

OB:GYL Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-03-07 7.000 1.785
2018-04-18 7.000 1.859
2017-04-05 7.000 2.282
2016-04-08 7.000 2.739
2016-02-12 7.000 3.003
2015-04-09 4.000 1.752
2014-04-22 7.000 3.350
2013-04-09 7.000 3.383
2013-02-15 7.000 3.315
2012-04-30 3.500 1.831
2011-04-29 7.000 3.285
2011-02-17 7.000 2.631
2010-08-27 0.000 0.000
2010-05-28 0.000 0.000
2010-04-28 7.000 2.473
2009-11-20 0.000 0.000
2009-10-08 0.000 0.000
2009-05-28 0.000 0.000
2009-05-06 0.000 0.000
2009-02-16 0.000 0.000

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

  • Gyldendal has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Gyldendal has only been paying a dividend for 9 years, and since then there has been no growth.
Current Payout to shareholders
What portion of Gyldendal's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.2x 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 Gyldendal's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - 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 Gyldendal afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Gyldendal 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.

GYL Management

 What is the CEO of Gyldendal'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
John Thuv
COMPENSATION NOK4,277,000
AGE 49
CEO Bio

Mr. John Tørres Thuv has been Chief Executive Officer of ARK Bokhandel AS since 2007. Mr. Thuv serves as the Chief Executive Officer and Member of The Corporate Management of Gyldendal ASA. He served as Chain and Chief Operating Officer of ARK Bokhandel AS since 2001. He was Regional Manager in Narvesen ASA. He holds a Business degree.

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

John Thuv

TITLE
CEO & Member of the Corporate Management
COMPENSATION
NOK4M
AGE
49

Silje Gabrielsen

TITLE
Executive Vice President of Finance
COMPENSATION
NOK2M
AGE
35
TENURE
2 yrs

Arne Magnus

TITLE
Executive VP & Member of the Corporate Management
COMPENSATION
NOK3M
AGE
60

Linda Andresen

TITLE
Member of the Corporate Management
COMPENSATION
NOK3M
AGE
45

Erik Myhre

TITLE
Executive Vice President of Business Development
AGE
45
Board of Directors Tenure

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

5.7
Average Tenure
51
Average Age
  • The tenure for the Gyldendal board of directors is about average.
Board of Directors

Trine Must

TITLE
Chairman of the Board
AGE
48
TENURE
3.7 yrs

Stig Sivertsen

TITLE
Director
AGE
60
TENURE
12.7 yrs

Siri Teigum

TITLE
Director
AGE
58
TENURE
12.7 yrs

Ingar Kolloen

TITLE
Director
AGE
68
TENURE
8.7 yrs

Marit Näumann

TITLE
Director
AGE
56
TENURE
2.7 yrs

Arild Nysæther

TITLE
Director
AGE
48
TENURE
6.7 yrs

Trude Sleire

TITLE
Director
AGE
46
TENURE
4.7 yrs

Klaus Karlson

TITLE
Director
AGE
51
TENURE
2.7 yrs

Eilert Hanoa

TITLE
Director
AGE
49
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 Gyldendal'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. Gyldendal 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.

GYL News

Simply Wall St News

Should You Be Worried About Gyldendal ASA's (OB:GYL) 5.5% Return On Equity?

One way to conceptualize this, is that for each NOK1 of shareholders' equity it has, the company made NOK0.055 in profit. … The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Gyldendal: 5.5% = kr44m ÷ kr798m (Based on the trailing twelve months to December 2018.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Companies that can achieve high returns on equity without too much debt are generally of good quality.

Simply Wall St -

The Gyldendal (OB:GYL) Share Price Is Up 92% And Shareholders Are Holding On

To wit, the Gyldendal share price has climbed 92% in five years, easily topping the market return of 11% (ignoring dividends). … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … Before deciding if you like the current share price, check how Gyldendal scores on these 3 valuation metrics.

Simply Wall St -

How Do Gyldendal ASA’s (OB:GYL) Returns On Capital Compare To Peers?

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Gyldendal: 0.083 = øre75m ÷ (øre1.5b - øre551m) (Based on the trailing twelve months to December 2018.) So, Gyldendal has an ROCE of 8.3%. … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE. … Gyldendal's middling level of current liabilities have the effect of boosting its ROCE a bit.

Simply Wall St -

Estimating The Intrinsic Value Of Gyldendal ASA (OB:GYL)

Generally we assume that a dollar today is more valuable than a dollar in the future, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (NOK, Millions) NOK62.18 NOK60.75 NOK60.10 NOK59.97 NOK60.19 NOK60.66 NOK61.32 NOK62.10 NOK62.99 NOK63.95 Growth Rate Estimate Source Est @ -4.03% Est @ -2.29% Est @ -1.08% Est @ -0.23% Est @ 0.37% Est @ 0.79% Est @ 1.08% Est @ 1.28% Est @ 1.43% Est @ 1.53% Present Value (NOK, Millions) Discounted @ 7.17% NOK58.02 NOK52.90 NOK48.83 NOK45.46 NOK42.58 NOK40.04 NOK37.77 NOK35.69 NOK33.78 NOK32.00 Present Value of 10-year Cash Flow (PVCF)= NOK427.07m "Est" = FCF growth rate estimated by Simply Wall St The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. … We discount the terminal cash flows to today's value at a cost of equity of 7.2%. … OB:GYL Intrinsic value, June 11th 2019 The assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

Is Gyldendal ASA's (OB:GYL) High P/E Ratio A Problem For Investors?

The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Gyldendal: P/E of 21.63 = NOK408 ÷ NOK18.86 (Based on the year to December 2018.) Is A High P/E Ratio Good? … A higher P/E ratio means that investors are paying a higher price for each NOK1 of company earnings. … In theory, a company can lower its future P/E ratio by using cash or debt to invest in growth.

Simply Wall St -

Should You Worry About Gyldendal ASA's (OB:GYL) CEO Pay Cheque?

The CEO of Gyldendal ASA (OB:GYL) is John Thuv. … This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does John Thuv's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Read This Before Judging Gyldendal ASA's (OB:GYL) ROE

This article is for those who would like to learn about Return On Equity (ROE). … Another way to think of that is that for every NOK1 worth of equity in the company, it was able to earn NOK0.055. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Know This Before Buying Gyldendal ASA (OB:GYL) For Its Dividend

A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. … Does Gyldendal tick all the boxes of a great dividend stock? … 5 questions I ask before picking a dividend stock

Simply Wall St -

Should Gyldendal (OB:GYL) Be Disappointed With Their 74% Profit?

To wit, the Gyldendal share price has climbed 74% in five years, easily topping the market return of 29% (ignoring dividends). … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … Over half a decade, Gyldendal managed to grow its earnings per share at 7.8% a year.

Simply Wall St -

Don't Sell Gyldendal ASA (OB:GYL) Before You Read This

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll look at Gyldendal ASA's (OB:GYL) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

GYL Company Info

Description

Gyldendal ASA, through its subsidiaries publishes and sells books in Norway. It also operates 142 bookstores; and ark.no, an online bookstore. In addition, it publishes dictionaries, and encyclopedias and other reference books in book and digital forms. The company was founded in 1925 and is based in Oslo, Norway.

Details
Name: Gyldendal ASA
GYL
Exchange: OB
Founded: 1925
NOK899,781,090
2,307,131
Website: http://www.gyldendalasa.no
Address: Gyldendal ASA
Sehestedsgate 4,
Oslo,
Oslo, 0164,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB GYL Ordinary Shares Oslo Bors NO NOK 02. Jan 1992
BATS-CHIXE GYLO Ordinary Shares BATS 'Chi-X Europe' GB NOK 02. Jan 1992
Number of employees
Current staff
Staff numbers
0
Gyldendal employees.
Industry
Specialty Stores
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/14 20:34
End of day share price update: 2019/09/13 00:00
Last earnings filing: 2019/08/29
Last earnings reported: 2019/06/30
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.