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KD financna druzba d. d

LJSE:SKDR
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SKDR
LJSE
€103M
Market Cap
  1. Home
  2. SI
  3. Diversified Financials
Company description

KD, financna druzba, dd is based in Ljubljana, Slovenia. The last earnings update was 28 days ago. More info.


Add to Portfolio Compare Print
SKDR Share Price and Events
7 Day Returns
-1.6%
LJSE:SKDR
-4%
Europe Capital Markets
-1%
SI Market
1 Year Returns
-6.3%
LJSE:SKDR
-18.7%
Europe Capital Markets
-17.9%
SI Market
SKDR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
KD financna druzba d. d (SKDR) -1.6% -4.8% -3.2% -6.3% 650% 900%
Europe Capital Markets -4% -18.6% -24.5% -18.7% -25.5% -44.5%
SI Market -1% -19.7% -23.3% -17.9% -7.6% -16.9%
1 Year Return vs Industry and Market
  • SKDR outperformed the Capital Markets industry which returned -18.7% over the past year.
  • SKDR outperformed the Market in Slovenia which returned -17.9% over the past year.
Price Volatility
SKDR
Industry
5yr Volatility vs Market

Value

 Is KD financna druzba d. d 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
  • It is not possible to calculate the future cash flow value for KD financna druzba d. d. This is due to cash flow or dividend data being unavailable. The share price is €600.
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 KD financna druzba d. d's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are KD financna druzba d. d's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LJSE:SKDR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €599.95
LJSE:SKDR Share Price ** LJSE (2020-03-30) in EUR €600
Europe Capital Markets Industry PE Ratio Median Figure of 140 Publicly-Listed Capital Markets Companies 17.03x
Slovenia Market PE Ratio Median Figure of 20 Publicly-Listed Companies 5.99x

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

** Primary Listing of KD financna druzba d. d.

LJSE:SKDR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LJSE:SKDR Share Price ÷ EPS (both in EUR)

= 600 ÷ 599.95

1x

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

  • KD financna druzba d. d is good value based on earnings compared to the Europe Capital Markets industry average.
  • KD financna druzba d. d is good value based on earnings compared to the Slovenia market.
Price based on expected Growth
Does KD financna druzba d. d's expected growth come at a high price?
Raw Data
LJSE:SKDR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 1x
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 53 Publicly-Listed Capital Markets Companies 0.96x

*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 KD financna druzba d. d, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on KD financna druzba d. d's assets?
Raw Data
LJSE:SKDR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €816.09
LJSE:SKDR Share Price * LJSE (2020-03-30) in EUR €600
Europe Capital Markets Industry PB Ratio Median Figure of 238 Publicly-Listed Capital Markets Companies 1.2x
Slovenia Market PB Ratio Median Figure of 24 Publicly-Listed Companies 0.49x
LJSE:SKDR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LJSE:SKDR Share Price ÷ Book Value per Share (both in EUR)

= 600 ÷ 816.09

0.74x

* Primary Listing of KD financna druzba d. d.

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

  • KD financna druzba d. d is good value based on assets compared to the Europe Capital Markets industry average.
X
Value checks
We assess KD financna druzba d. d'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. KD financna druzba d. d has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

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

Future Performance

 How is KD financna druzba d. d 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 KD financna druzba d. d 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
15.8%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is KD financna druzba d. d expected to grow at an attractive rate?
  • Unable to compare KD financna druzba d. d's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare KD financna druzba d. d's earnings growth to the market average as no estimate data is available.
  • Unable to compare KD financna druzba d. d's revenue growth to the market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
LJSE:SKDR Future Growth Rates Data Sources
Data Point Source Value (per year)
Europe Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 15.8%
Europe Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 2%

*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
LJSE:SKDR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LJSE:SKDR Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 148 -85 103
2019-09-30 -82 94
2019-06-30 163 -36 111
2019-03-31 15 44
2018-12-31 5 7 -16
2018-09-30 -13 -8
2018-06-30 -161 2 -14
2018-03-31 -17 -8
2017-12-31 4 14 -9

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if KD financna druzba d. d is high growth as no earnings estimate data is available.
  • Unable to determine if KD financna druzba d. d 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
LJSE:SKDR 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 0 Analyst Estimates (S&P Global) See Below

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

LJSE:SKDR Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 599.95
2019-09-30 550.11
2019-06-30 647.03
2019-03-31 255.30
2018-12-31 -91.34
2018-09-30
2018-06-30 -83.08
2018-03-31
2017-12-31 -53.72

*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 KD financna druzba d. d will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether KD financna druzba d. d is trading at KD financna druzba d. d'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. KD financna druzba d. d'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. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess KD financna druzba d. d'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.
KD financna druzba d. d 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 KD financna druzba d. d 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 KD financna druzba d. d'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.
  • Insufficient data to establish if KD financna druzba d. d's year on year earnings growth rate was positive over the past 5 years.
  • KD financna druzba d. d has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • KD financna druzba d. d has become profitable in the last year making it difficult to compare the Europe Capital Markets industry average.
Earnings and Revenue History
KD financna druzba d. d'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 KD financna druzba d. d Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LJSE:SKDR Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 148.15 102.84 3.39
2019-09-30 -82.01 94.40 -55.67
2019-06-30 163.01 111.03 3.39
2019-03-31 15.12 43.81 -15.49
2018-12-31 5.43 -15.67 3.18
2018-09-30 -12.87 -8.43 2.82
2018-06-30 -161.01 -14.26 -36.27
2018-03-31 -16.69 -7.76 3.44
2017-12-31 3.60 -9.22 3.54

*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.
  • KD financna druzba d. d made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%).
  • KD financna druzba d. d used its assets more efficiently than the Europe Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if KD financna druzba d. d 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 KD financna druzba d. d'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.
KD financna druzba d. d 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 KD financna druzba d. d'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 KD financna druzba d. d's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • KD financna druzba d. d is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • KD financna druzba d. d's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of KD financna druzba d. d'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 16.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

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

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

All data from KD financna druzba d. d Company Filings, last reported 3 months ago.

LJSE:SKDR Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 161.03 8.50 92.18
2019-09-30 161.03 8.50 92.18
2019-06-30 194.09 10.21 136.62
2019-03-31 194.09 10.21 136.62
2018-12-31 72.42 47.31 3.86
2018-09-30 84.28 345.71 32.76
2018-06-30 81.59 99.14 34.78
2018-03-31 85.44 340.24 45.69
2017-12-31 82.67 100.16 23.33
  • KD financna druzba d. d's level of debt (5.3%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if KD financna druzba d. d's debt level has increased without past 5-year debt data.
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 77.8x coverage).
X
Financial health checks
We assess KD financna druzba d. d'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. KD financna druzba d. d 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 KD financna druzba d. d's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from KD financna druzba d. d dividends.
If you bought €2,000 of KD financna druzba d. d shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate KD financna druzba d. d's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate KD financna druzba d. d's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LJSE:SKDR 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 103 Stocks 4.6%
Slovenia Market Average Dividend Yield Market Cap Weighted Average of 14 Stocks 9.4%
Slovenia Minimum Threshold Dividend Yield 10th Percentile 2.4%
Slovenia Bottom 25% Dividend Yield 25th Percentile 4.9%
Slovenia Top 25% Dividend Yield 75th Percentile 10.5%

Industry and Market average data is calculated daily.

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

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

  • Unable to perform a dividend volatility check as KD financna druzba d. d has not reported any payouts.
  • Unable to verify if KD financna druzba d. d's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of KD financna druzba d. d's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as KD financna druzba d. d has not reported any payouts.
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 KD financna druzba d. d's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 2.4%) - 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 KD financna druzba d. d afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. KD financna druzba d. d has a total score of 0/6, 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 KD financna druzba d. d'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
Matija Gantar
AGE 29
CEO Bio

Mr. Matija Gantar, M.sc. has been the President and Member of Management Board at KD Banka d.d. since April 20, 2009 and serves as its Chief Executive Officer. He is Managing Director of the MGH Investments AG Switzerland. Mr. Gantar serves as the Chief Executive Officer and Member of the Management Board at KD, financna druzba, d. d. Mr. Gantar served as the Chief Executive Officer of KD Group, financna druzba, d. d., and served as its President of Management Board since March 6, 2001. He has been Deputy Chairman of the Board of Directors at KD Group, financna družba, d.d. since April 2018. He served as Member of Management Board at KD Group, financna druzba, d. d. He served as the President of The Board of Directors at KD Group, financna druzba, d. d. since November 17, 2013 and serves as its Director. He served as a Supervisory Board Member of MERKUR - trgovina in storitve, d. d. from December 2002 to December 2006. During his studies he gained his experiences within the practice at the Audit Department of KPMG Slovenia and as an Assistant Portfolio Manager at KD Skladi d.o.o. Ljubljana. After completing his studies he worked as an analyst in the Joh. Berenberg Gossler & Co investment bank in London. He holds a Bachelor of Economics. After graduating from Ljubljana's Faculty of Economics, he enrolled at the Imperial College London Business School where he passed his master's degree in Risk Management & Financial Engineering.

CEO Compensation
  • Insufficient data for Matija to compare compensation growth.
  • Insufficient data for Matija to establish whether their remuneration is reasonable compared to companies of similar size in Slovenia.
Management Team

Milan Kneževic

TITLE
Chairman of the Management Board

Matija Gantar

TITLE
CEO & Member of the Management Board
AGE
29

Tomaž Butina

TITLE
Deputy Chairman of Management Board

Katarina Istenic

TITLE
Member of the Management Board

Aleksander Sekavcnik

TITLE
Member of Management Board
Board of Directors

Milan Kneževic

TITLE
Chairman of the Management Board
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 (€)
X
Management checks
We assess KD financna druzba d. d'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. KD financna druzba d. d has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

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

News

Simply Wall St News

Company Info

Description

KD, financna druzba, dd is based in Ljubljana, Slovenia.

Details
Name: KD, financna druzba, d. d.
SKDR
Exchange: LJSE
Founded:
€102,960,000
171,600
Website: http://www.kd-fd.si
Address: KD, financna druzba, d. d.
Celovska cesta 206,
Ljubljana,
1000,
Slovenia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LJSE SKDR Ordinary Shares Ljubljana Stock Exchange SI EUR 02. Nov 2001
LSE 0M5A Ordinary Shares London Stock Exchange GB EUR 02. Nov 2001
Number of employees
Current staff
Staff numbers
0
KD financna druzba d. d employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/04 19:33
End of day share price update: 2020/03/30 00:00
Last earnings filing: 2020/03/07
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.