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Dividendenzahlungen |
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| Titel | Ex-Datum | Zahldatum | Bruttobetrag |
SMA Solar Technology AG |
29.05.24 |
0.5000 € |
|
SMA Solar Technology AG |
04.06.21 |
0.3000 € |
|
SMA Solar Technology AG |
02.06.21 |
0.3000 € |
|
SMA Solar Technology AG |
25.05.18 |
0.3500 € |
|
SMA Solar Technology AG |
26.05.17 |
0.2600 € |
|
SMA Solar Technology AG |
24.05.17 |
0.2600 € |
|
SMA Solar Technology AG |
01.06.16 |
0.1400 € |
|
SMA Solar Technology AG |
24.05.13 |
0.6000 € |
|
SMA Solar Technology AG |
23.05.12 |
1.3000 € |
|
SMA Solar Technology AG |
27.05.11 |
3.0000 € |
|
SMA Solar Technology AG |
28.05.10 |
1.3000 € |
|
SMA Solar Technology AG |
11.06.09 |
1.0000 € |
|
Nachrichten |
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| Datum / Uhrzeit | Titel | Bewertung |
| 30.03.25 06:31:42 | €18.00 - That's What Analysts Think SMA Solar Technology AG (ETR:S92) Is Worth After These Results |  |
| It's been a mediocre week for SMA Solar Technology AG (ETR:S92) shareholders, with the stock dropping 16% to €17.70 in the week since its latest yearly results. The results don't look great, especially considering that statutory losses grew 39% to€3.39 per share. Revenues of €1.5b did beat expectations by 3.4%, but it looks like a bit of a cold comfort. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.XTRA:S92 Earnings and Revenue Growth March 30th 2025 Taking into account the latest results, SMA Solar Technology's five analysts currently expect revenues in 2025 to be €1.53b, approximately in line with the last 12 months. Earnings are expected to improve, with SMA Solar Technology forecast to report a statutory profit of €1.36 per share. In the lead-up to this report, the analysts had been modelling revenues of €1.53b and earnings per share (EPS) of €1.36 in 2025. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results. Check out our latest analysis for SMA Solar Technology With the analysts reconfirming their revenue and earnings forecasts, it's surprising to see that the price target rose 9.8% to €18.00. It looks as though they previously had some doubts over whether the business would live up to their expectations. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. Currently, the most bullish analyst values SMA Solar Technology at €22.00 per share, while the most bearish prices it at €15.00. There are definitely some different views on the stock, but the range of estimates is not wide enough as to imply that the situation is unforecastable, in our view. These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the SMA Solar Technology's past performance and to peers in the same industry. We would highlight that SMA Solar Technology's revenue growth is expected to slow, with the forecast 0.3% annualised growth rate until the end of 2025 being well below the historical 15% p.a. growth over the last five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 8.1% per year. Factoring in the forecast slowdown in growth, it seems obvious that SMA Solar Technology is also expected to grow slower than other industry participants. Story Continues The Bottom Line The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. On the plus side, there were no major changes to revenue estimates; although forecasts imply they will perform worse than the wider industry. We note an upgrade to the price target, suggesting that the analysts believes the intrinsic value of the business is likely to improve over time. With that in mind, we wouldn't be too quick to come to a conclusion on SMA Solar Technology. Long-term earnings power is much more important than next year's profits. At Simply Wall St, we have a full range of analyst estimates for SMA Solar Technology going out to 2027, and you can see them free on our platform here.. And what about risks? Every company has them, and we've spotted 2 warning signs for SMA Solar Technology you should know about. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View Comments |
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| 29.03.25 06:27:33 | SMA Solar Technology Full Year 2024 Earnings: Revenues Beat Expectations, EPS Lags | |
| SMA Solar Technology (ETR:S92) Full Year 2024 Results Key Financial Results Revenue: €1.53b (down 20% from FY 2023). Net loss: €117.7m (down by 152% from €225.7m profit in FY 2023). €3.39 loss per share (down from €6.50 profit in FY 2023). Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit.XTRA:S92 Earnings and Revenue Growth March 29th 2025 All figures shown in the chart above are for the trailing 12 month (TTM) period SMA Solar Technology Revenues Beat Expectations, EPS Falls Short Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) missed analyst estimates by 39%. Looking ahead, revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Semiconductor industry in Germany. Performance of the German Semiconductor industry. The company's shares are down 16% from a week ago. Risk Analysis Before you take the next step you should know about the 2 warning signs for SMA Solar Technology (1 doesn't sit too well with us!) that we have uncovered. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View Comments |
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| 14.03.25 04:27:09 | SMA Solar Technology AG (ETR:S92) Shares Could Be 25% Below Their Intrinsic Value Estimate |  |
| Key Insights Using the 2 Stage Free Cash Flow to Equity, SMA Solar Technology fair value estimate is €27.89 SMA Solar Technology is estimated to be 25% undervalued based on current share price of €20.84 Our fair value estimate is 55% higher than SMA Solar Technology's analyst price target of €18.00 Today we will run through one way of estimating the intrinsic value of SMA Solar Technology AG (ETR:S92) by taking the expected future cash flows and discounting them to today's value. We will take advantage of the Discounted Cash Flow (DCF) model for this purpose. Models like these may appear beyond the comprehension of a lay person, but they're fairly easy to follow. We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model. View our latest analysis for SMA Solar Technology Crunching The Numbers We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. To begin with, we have to get estimates of the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) estimate 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Levered FCF (€, Millions) €115.3m €91.4m €78.0m €70.3m €65.7m €62.9m €61.2m €60.2m €59.8m €59.7m Growth Rate Estimate Source Analyst x1 Analyst x3 Est @ -14.59% Est @ -9.89% Est @ -6.59% Est @ -4.29% Est @ -2.68% Est @ -1.55% Est @ -0.75% Est @ -0.20% Present Value (€, Millions) Discounted @ 7.6% €107 €79.0 €62.7 €52.5 €45.6 €40.6 €36.7 €33.6 €31.0 €28.8 ("Est" = FCF growth rate estimated by Simply Wall St) Present Value of 10-year Cash Flow (PVCF) = €518m Story Continues The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (1.1%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 7.6%. Terminal Value (TV)= FCF2034 × (1 + g) ÷ (r – g) = €60m× (1 + 1.1%) ÷ (7.6%– 1.1%) = €932m Present Value of Terminal Value (PVTV)= TV / (1 + r)10= €932m÷ ( 1 + 7.6%)10= €450m The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is €968m. To get the intrinsic value per share, we divide this by the total number of shares outstanding. Relative to the current share price of €20.8, the company appears a touch undervalued at a 25% discount to where the stock price trades currently. Valuations are imprecise instruments though, rather like a telescope - move a few degrees and end up in a different galaxy. Do keep this in mind.XTRA:S92 Discounted Cash Flow March 14th 2025 Important Assumptions The calculation above is very dependent on two assumptions. The first is the discount rate and the other is the cash flows. Part of investing is coming up with your own evaluation of a company's future performance, so try the calculation yourself and check your own assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at SMA Solar Technology as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.6%, which is based on a levered beta of 1.494. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. SWOT Analysis for SMA Solar Technology Strength Debt is well covered by earnings. Weakness Earnings declined over the past year. Dividend is low compared to the top 25% of dividend payers in the Semiconductor market. Opportunity Annual earnings are forecast to grow faster than the German market. Good value based on P/E ratio and estimated fair value. Threat Debt is not well covered by operating cash flow. Paying a dividend but company has no free cash flows. Annual revenue is forecast to grow slower than the German market. Moving On: Whilst important, the DCF calculation is only one of many factors that you need to assess for a company. It's not possible to obtain a foolproof valuation with a DCF model. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. Can we work out why the company is trading at a discount to intrinsic value? For SMA Solar Technology, there are three fundamental items you should further research: Risks: As an example, we've found 4 warning signs for SMA Solar Technology (2 shouldn't be ignored!) that you need to consider before investing here. Future Earnings: How does S92's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart. Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing! PS. Simply Wall St updates its DCF calculation for every German stock every day, so if you want to find the intrinsic value of any other stock just search here. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View Comments |
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| 26.02.25 11:57:01 | Investors one-year losses continue as SMA Solar Technology (ETR:S92) dips a further 11% this week, earnings continue to decline | |
| While not a mind-blowing move, it is good to see that the SMA Solar Technology AG (ETR:S92) share price has gained 11% in the last three months. But that hardly compensates for the shocking decline over the last twelve months. During that time the share price has plummeted like a stone, down 71%. It's not uncommon to see a bounce after a drop like that. The real question is whether the company can turn around its fortunes. If the past week is anything to go by, investor sentiment for SMA Solar Technology isn't positive, so let's see if there's a mismatch between fundamentals and the share price. See our latest analysis for SMA Solar Technology In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. 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). Unfortunately SMA Solar Technology reported an EPS drop of 64% for the last year. This proportional reduction in earnings per share isn't far from the 71% decrease in the share price. Given the lower EPS we might have expected investors to lose confidence in the stock, but that doesn't seemed to have happened. Instead, the change in the share price seems to reduction in earnings per share, alone. The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).XTRA:S92 Earnings Per Share Growth February 26th 2025 It is of course excellent to see how SMA Solar Technology has grown profits over the years, but the future is more important for shareholders. If you are thinking of buying or selling SMA Solar Technology stock, you should check out this FREEdetailed report on its balance sheet. A Different Perspective While the broader market gained around 18% in the last year, SMA Solar Technology shareholders lost 70% (even including dividends). Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Unfortunately, last year's performance may indicate unresolved challenges, given that it was worse than the annualised loss of 9% over the last half decade. We realise that Baron Rothschild has said investors should "buy when there is blood on the streets", but we caution that investors should first be sure they are buying a high quality business. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Consider for instance, the ever-present spectre of investment risk. We've identified 4 warning signs with SMA Solar Technology (at least 1 which shouldn't be ignored) , and understanding them should be part of your investment process. Story Continues For those who like to find winning investments this freelist of undervalued companies with recent insider purchasing, could be just the ticket. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on German exchanges. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View Comments |
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| 31.12.24 11:57:11 | We Like These Underlying Return On Capital Trends At SMA Solar Technology (ETR:S92) | |
| There are a few key trends to look for if we want to identify the next multi-bagger. In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Speaking of which, we noticed some great changes in SMA Solar Technology's (ETR:S92) returns on capital, so let's have a look. Understanding Return On Capital Employed (ROCE) If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. To calculate this metric for SMA Solar Technology, this is the formula: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.12 = €120m ÷ (€1.7b - €706m) (Based on the trailing twelve months to September 2024). So, SMA Solar Technology has an ROCE of 12%. That's a relatively normal return on capital, and it's around the 13% generated by the Semiconductor industry. View our latest analysis for SMA Solar Technology XTRA:S92 Return on Capital Employed December 31st 2024 Above you can see how the current ROCE for SMA Solar Technology compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our freeanalyst report for SMA Solar Technology . What The Trend Of ROCE Can Tell Us The fact that SMA Solar Technology is now generating some pre-tax profits from its prior investments is very encouraging. About five years ago the company was generating losses but things have turned around because it's now earning 12% on its capital. And unsurprisingly, like most companies trying to break into the black, SMA Solar Technology is utilizing 46% more capital than it was five years ago. We like this trend, because it tells us the company has profitable reinvestment opportunities available to it, and if it continues going forward that can lead to a multi-bagger performance. On a side note, SMA Solar Technology's current liabilities are still rather high at 42% of total assets. This can bring about some risks because the company is basically operating with a rather large reliance on its suppliers or other sorts of short-term creditors. While it's not necessarily a bad thing, it can be beneficial if this ratio is lower. What We Can Learn From SMA Solar Technology's ROCE Overall, SMA Solar Technology gets a big tick from us thanks in most part to the fact that it is now profitable and is reinvesting in its business. Astute investors may have an opportunity here because the stock has declined 61% in the last five years. So researching this company further and determining whether or not these trends will continue seems justified. Story Continues On a final note, we found 4 warning signs for SMA Solar Technology (1 is significant) you should be aware of. While SMA Solar Technology may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this freelist here. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View Comments |
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| 05.12.24 06:06:56 | What Does SMA Solar Technology AG's (ETR:S92) Share Price Indicate? | |
| SMA Solar Technology AG (ETR:S92), is not the largest company out there, but it saw a decent share price growth of 17% on the XTRA over the last few months. Shareholders may appreciate the recent price jump, but the company still has a way to go before reaching its yearly highs again. As a stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock. However, what if the stock is still a bargain? Let’s take a look at SMA Solar Technology’s outlook and value based on the most recent financial data to see if the opportunity still exists. View our latest analysis for SMA Solar Technology What Is SMA Solar Technology Worth? Good news, investors! SMA Solar Technology is still a bargain right now according to our price multiple model, which compares the company's price-to-earnings ratio to the industry average. In this instance, we’ve used the price-to-earnings (PE) ratio given that there is not enough information to reliably forecast the stock’s cash flows. we find that SMA Solar Technology’s ratio of 5.81x is below its peer average of 13.2x, which indicates the stock is trading at a lower price compared to the Semiconductor industry. What’s more interesting is that, SMA Solar Technology’s share price is quite volatile, which gives us more chances to buy since the share price could sink lower (or rise higher) in the future. This is based on its high beta, which is a good indicator for how much the stock moves relative to the rest of the market. What does the future of SMA Solar Technology look like?XTRA:S92 Earnings and Revenue Growth December 5th 2024 Investors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. Though in the case of SMA Solar Technology, it is expected to deliver a highly negative earnings growth in the next few years, which doesn’t help build up its investment thesis. It appears that risk of future uncertainty is high, at least in the near term. What This Means For You Are you a shareholder? Although S92 is currently trading below the industry PE ratio, the negative profit outlook does bring on some uncertainty, which equates to higher risk. We recommend you think about whether you want to increase your portfolio exposure to S92, or whether diversifying into another stock may be a better move for your total risk and return. Are you a potential investor? If you’ve been keeping tabs on S92 for some time, but hesitant on making the leap, we recommend you research further into the stock. Given its current price multiple, now is a great time to make a decision. But keep in mind the risks that come with negative growth prospects in the future. Story Continues With this in mind, we wouldn't consider investing in a stock unless we had a thorough understanding of the risks. To help with this, we've discovered 4 warning signs (1 is a bit concerning!) that you ought to be aware of before buying any shares in SMA Solar Technology. If you are no longer interested in SMA Solar Technology, you can use our free platform to see our list of over 50 other stocks with a high growth potential. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View Comments |
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| 14.11.24 11:53:50 | SMA Solar Technology AG's (ETR:S92) top owners are retail investors with 57% stake, while 23% is held by institutions | |
| Key Insights Significant control over SMA Solar Technology by retail investors implies that the general public has more power to influence management and governance-related decisions The top 25 shareholders own 45% of the company Institutions own 23% of SMA Solar Technology A look at the shareholders of SMA Solar Technology AG (ETR:S92) can tell us which group is most powerful. We can see that retail investors own the lion's share in the company with 57% ownership. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). Institutions, on the other hand, account for 23% of the company's stockholders. Generally speaking, as a company grows, institutions will increase their ownership. Conversely, insiders often decrease their ownership over time. Let's delve deeper into each type of owner of SMA Solar Technology, beginning with the chart below. Check out our latest analysis for SMA Solar Technology XTRA:S92 Ownership Breakdown November 14th 2024 What Does The Institutional Ownership Tell Us About SMA Solar Technology? Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices. SMA Solar Technology already has institutions on the share registry. Indeed, they own a respectable stake in the company. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of SMA Solar Technology, (below). Of course, keep in mind that there are other factors to consider, too.XTRA:S92 Earnings and Revenue Growth November 14th 2024 Hedge funds don't have many shares in SMA Solar Technology. Our data shows that Danfoss A/S is the largest shareholder with 20% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 4.9% and 4.3%, of the shares outstanding, respectively. On studying our ownership data, we found that 25 of the top shareholders collectively own less than 50% of the share register, implying that no single individual has a majority interest. While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too. Story Continues Insider Ownership Of SMA Solar Technology The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. We note our data does not show any board members holding shares, personally. It is unusual not to have at least some personal holdings by board members, so our data might be flawed. A good next step would be to check how much the CEO is paid. General Public Ownership The general public -- including retail investors -- own 57% of SMA Solar Technology. This level of ownership gives investors from the wider public some power to sway key policy decisions such as board composition, executive compensation, and the dividend payout ratio. Private Company Ownership It seems that Private Companies own 20%, of the SMA Solar Technology stock. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company. Next Steps: I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. Consider for instance, the ever-present spectre of investment risk. We've identified 4 warning signs with SMA Solar Technology (at least 2 which are significant) , and understanding them should be part of your investment process. Ultimately the future is most important. You can access this freereport on analyst forecasts for the company. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View Comments |
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| 19.09.24 09:21:46 | The past year for SMA Solar Technology (ETR:S92) investors has not been profitable | |
| Taking the occasional loss comes part and parcel with investing on the stock market. And unfortunately for SMA Solar Technology AG (ETR:S92) shareholders, the stock is a lot lower today than it was a year ago. To wit the share price is down 70% in that time. Even if you look out three years, the returns are still disappointing, with the share price down49% in that time. Shareholders have had an even rougher run lately, with the share price down 35% in the last 90 days. With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies. View our latest analysis for SMA Solar Technology While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. 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. Unhappily, SMA Solar Technology had to report a 2.1% decline in EPS over the last year. The share price decline of 70% is actually more than the EPS drop. So it seems the market was too confident about the business, a year ago. The P/E ratio of 3.98 also points to the negative market sentiment. The image below shows how EPS has tracked over time (if you click on the image you can see greater detail). earnings-per-share-growth We know that SMA Solar Technology has improved its bottom line over the last three years, but what does the future have in store? If you are thinking of buying or selling SMA Solar Technology stock, you should check out this FREEdetailed report on its balance sheet. A Different Perspective SMA Solar Technology shareholders are down 70% for the year (even including dividends), but the market itself is up 9.0%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 5% per year over five years. We realise that Baron Rothschild has said investors should "buy when there is blood on the streets", but we caution that investors should first be sure they are buying a high quality business. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. For example, we've discovered 3 warning signs for SMA Solar Technology (2 make us uncomfortable!) that you should be aware of before investing here. Story continues Of course SMA Solar Technology may not be the best stock to buy. So you may wish to see this freecollection of growth stocks. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on German exchanges. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View comments |
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| 02.09.24 09:57:38 | Could The Market Be Wrong About SMA Solar Technology AG (ETR:S92) Given Its Attractive Financial Prospects? | |
| It is hard to get excited after looking at SMA Solar Technology's (ETR:S92) recent performance, when its stock has declined 55% over the past three months. But if you pay close attention, you might gather that its strong financials could mean that the stock could potentially see an increase in value in the long-term, given how markets usually reward companies with good financial health. Specifically, we decided to study SMA Solar Technology's ROE in this article. Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In short, ROE shows the profit each dollar generates with respect to its shareholder investments. Check out our latest analysis for SMA Solar Technology How To Calculate Return On Equity? Return on equity can be calculated by using the formula: Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity So, based on the above formula, the ROE for SMA Solar Technology is: 23% = €166m ÷ €715m (Based on the trailing twelve months to June 2024). The 'return' is the income the business earned over the last year. Another way to think of that is that for every €1 worth of equity, the company was able to earn €0.23 in profit. Why Is ROE Important For Earnings Growth? We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don’t share these attributes. A Side By Side comparison of SMA Solar Technology's Earnings Growth And 23% ROE First thing first, we like that SMA Solar Technology has an impressive ROE. Secondly, even when compared to the industry average of 14% the company's ROE is quite impressive. Under the circumstances, SMA Solar Technology's considerable five year net income growth of 70% was to be expected. As a next step, we compared SMA Solar Technology's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 38%. past-earnings-growth Earnings growth is an important metric to consider when valuing a stock. It’s important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if SMA Solar Technology is trading on a high P/E or a low P/E, relative to its industry. Story continues Is SMA Solar Technology Efficiently Re-investing Its Profits? SMA Solar Technology's three-year median payout ratio to shareholders is 6.3%, which is quite low. This implies that the company is retaining 94% of its profits. So it looks like SMA Solar Technology is reinvesting profits heavily to grow its business, which shows in its earnings growth. Additionally, SMA Solar Technology has paid dividends over a period of eight years which means that the company is pretty serious about sharing its profits with shareholders. Looking at the current analyst consensus data, we can see that the company's future payout ratio is expected to rise to 13% over the next three years. Accordingly, the expected increase in the payout ratio explains the expected decline in the company's ROE to 13%, over the same period. Conclusion On the whole, we feel that SMA Solar Technology's performance has been quite good. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. With that said, on studying the latest analyst forecasts, we found that while the company has seen growth in its past earnings, analysts expect its future earnings to shrink. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View comments |
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| 16.08.24 04:46:27 | SMA Solar Technology's (ETR:S92) Anemic Earnings Might Be Worse Than You Think | |
| Investors were disappointed by SMA Solar Technology AG's (ETR:S92 ) latest earnings release. We did some further digging and think they have a few more reasons to be concerned beyond the statutory profit. Check out our latest analysis for SMA Solar Technology earnings-and-revenue-history Examining Cashflow Against SMA Solar Technology's Earnings Many investors haven't heard of the accrual ratio from cashflow, but it is actually a useful measure of how well a company's profit is backed up by free cash flow (FCF) during a given period. In plain english, this ratio subtracts FCF from net profit, and divides that number by the company's average operating assets over that period. The ratio shows us how much a company's profit exceeds its FCF. That means a negative accrual ratio is a good thing, because it shows that the company is bringing in more free cash flow than its profit would suggest. While having an accrual ratio above zero is of little concern, we do think it's worth noting when a company has a relatively high accrual ratio. Notably, there is some academic evidence that suggests that a high accrual ratio is a bad sign for near-term profits, generally speaking. For the year to June 2024, SMA Solar Technology had an accrual ratio of 0.87. Statistically speaking, that's a real negative for future earnings. And indeed, during the period the company didn't produce any free cash flow whatsoever. Over the last year it actually had negative free cash flow of €245m, in contrast to the aforementioned profit of €166.3m. It's worth noting that SMA Solar Technology generated positive FCF of €90m a year ago, so at least they've done it in the past. That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates. Our Take On SMA Solar Technology's Profit Performance As we have made quite clear, we're a bit worried that SMA Solar Technology didn't back up the last year's profit with free cashflow. As a result, we think it may well be the case that SMA Solar Technology's underlying earnings power is lower than its statutory profit. In further bad news, its earnings per share decreased in the last year. At the end of the day, it's essential to consider more than just the factors above, if you want to understand the company properly. With this in mind, we wouldn't consider investing in a stock unless we had a thorough understanding of the risks. For example, we've found that SMA Solar Technology has 3 warning signs (2 are potentially serious!) that deserve your attention before going any further with your analysis. Story continues This note has only looked at a single factor that sheds light on the nature of SMA Solar Technology's profit. But there are plenty of other ways to inform your opinion of a company. Some people consider a high return on equity to be a good sign of a quality business. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks with high insider ownership. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View comments |
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