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STRATEC SE (SBS.DE) Stock Fundamental Analysis

FRA:SBS - Deutsche Boerse Ag - DE000STRA555 - Common Stock - Currency: EUR

25.2  +0.25 (+1%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to SBS. SBS was compared to 54 industry peers in the Health Care Equipment & Supplies industry. SBS has an average financial health and profitability rating. SBS has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

SBS had positive earnings in the past year.
In the past year SBS had a positive cash flow from operations.
SBS had positive earnings in each of the past 5 years.
In the past 5 years SBS always reported a positive cash flow from operatings.
SBS.DE Yearly Net Income VS EBIT VS OCF VS FCFSBS.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20M 40M 60M

1.2 Ratios

SBS has a Return On Assets (2.22%) which is in line with its industry peers.
Looking at the Return On Equity, with a value of 4.40%, SBS is in line with its industry, outperforming 50.00% of the companies in the same industry.
With a Return On Invested Capital value of 3.90%, SBS perfoms like the industry average, outperforming 51.85% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for SBS is in line with the industry average of 8.28%.
The last Return On Invested Capital (3.90%) for SBS is well below the 3 year average (8.60%), which needs to be investigated, but indicates that SBS had better years and this may not be a problem.
Industry RankSector Rank
ROA 2.22%
ROE 4.4%
ROIC 3.9%
ROA(3y)7%
ROA(5y)6.68%
ROE(3y)12.67%
ROE(5y)12.33%
ROIC(3y)8.6%
ROIC(5y)7.92%
SBS.DE Yearly ROA, ROE, ROICSBS.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 5 10 15

1.3 Margins

Looking at the Profit Margin, with a value of 4.00%, SBS is in line with its industry, outperforming 57.41% of the companies in the same industry.
SBS's Profit Margin has been stable in the last couple of years.
With a Operating Margin value of 7.60%, SBS perfoms like the industry average, outperforming 57.41% of the companies in the same industry.
In the last couple of years the Operating Margin of SBS has grown nicely.
With a Gross Margin value of 27.04%, SBS is not doing good in the industry: 81.48% of the companies in the same industry are doing better.
SBS's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 7.6%
PM (TTM) 4%
GM 27.04%
OM growth 3Y-11.39%
OM growth 5Y5.51%
PM growth 3Y-20.86%
PM growth 5Y0.88%
GM growth 3Y-3.54%
GM growth 5Y-0.73%
SBS.DE Yearly Profit, Operating, Gross MarginsSBS.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 10 20 30

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5

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), SBS is creating some value.
The number of shares outstanding for SBS remains at a similar level compared to 1 year ago.
Compared to 5 years ago, SBS has more shares outstanding
The debt/assets ratio for SBS is higher compared to a year ago.
SBS.DE Yearly Shares OutstandingSBS.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2M 4M 6M 8M 10M
SBS.DE Yearly Total Debt VS Total AssetsSBS.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M

2.2 Solvency

SBS has an Altman-Z score of 2.45. This is not the best score and indicates that SBS is in the grey zone with still only limited risk for bankruptcy at the moment.
SBS has a Altman-Z score of 2.45. This is in the better half of the industry: SBS outperforms 62.96% of its industry peers.
SBS has a debt to FCF ratio of 8.30. This is a slightly negative value and a sign of low solvency as SBS would need 8.30 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 8.30, SBS is in the better half of the industry, outperforming 61.11% of the companies in the same industry.
SBS has a Debt/Equity ratio of 0.41. This is a healthy value indicating a solid balance between debt and equity.
SBS has a Debt to Equity ratio (0.41) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.41
Debt/FCF 8.3
Altman-Z 2.45
ROIC/WACC0.67
WACC5.86%
SBS.DE Yearly LT Debt VS Equity VS FCFSBS.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50M 100M 150M 200M

2.3 Liquidity

A Current Ratio of 2.52 indicates that SBS has no problem at all paying its short term obligations.
SBS has a better Current ratio (2.52) than 74.07% of its industry peers.
A Quick Ratio of 0.93 indicates that SBS may have some problems paying its short term obligations.
SBS has a Quick ratio (0.93) which is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 2.52
Quick Ratio 0.93
SBS.DE Yearly Current Assets VS Current LiabilitesSBS.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M

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3

3. Growth

3.1 Past

The earnings per share for SBS have decreased strongly by -16.73% in the last year.
The Earnings Per Share has been growing slightly by 7.75% on average over the past years.
The Revenue has decreased by -1.62% in the past year.
Measured over the past years, SBS shows a small growth in Revenue. The Revenue has been growing by 6.88% on average per year.
EPS 1Y (TTM)-16.73%
EPS 3Y-19.63%
EPS 5Y7.75%
EPS Q2Q%-47.62%
Revenue 1Y (TTM)-1.62%
Revenue growth 3Y1.55%
Revenue growth 5Y6.88%
Sales Q2Q%-8.69%

3.2 Future

Based on estimates for the next years, SBS will show a quite strong growth in Earnings Per Share. The EPS will grow by 15.73% on average per year.
SBS is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.82% yearly.
EPS Next Y-11.17%
EPS Next 2Y9.41%
EPS Next 3Y14.79%
EPS Next 5Y15.73%
Revenue Next Year-4.72%
Revenue Next 2Y0.53%
Revenue Next 3Y2.87%
Revenue Next 5Y3.82%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
SBS.DE Yearly Revenue VS EstimatesSBS.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 100M 200M 300M 400M
SBS.DE Yearly EPS VS EstimatesSBS.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 1 2 3 4

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5

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 30.73, the valuation of SBS can be described as expensive.
Compared to the rest of the industry, the Price/Earnings ratio of SBS indicates a somewhat cheap valuation: SBS is cheaper than 70.37% of the companies listed in the same industry.
SBS is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 28.80, which is the current average of the S&P500 Index.
SBS is valuated correctly with a Price/Forward Earnings ratio of 13.82.
79.63% of the companies in the same industry are more expensive than SBS, based on the Price/Forward Earnings ratio.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.91, SBS is valued a bit cheaper.
Industry RankSector Rank
PE 30.73
Fwd PE 13.82
SBS.DE Price Earnings VS Forward Price EarningsSBS.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of SBS indicates a rather cheap valuation: SBS is cheaper than 88.89% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, SBS is valued cheaply inside the industry as 90.74% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 16.68
EV/EBITDA 10.93
SBS.DE Per share dataSBS.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

4.3 Compensation for Growth

SBS's earnings are expected to grow with 14.79% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)3.97
EPS Next 2Y9.41%
EPS Next 3Y14.79%

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5

5. Dividend

5.1 Amount

SBS has a Yearly Dividend Yield of 2.00%. Purely for dividend investing, there may be better candidates out there.
SBS's Dividend Yield is rather good when compared to the industry average which is at 2.15. SBS pays more dividend than 87.04% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.39, SBS has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2%

5.2 History

The dividend of SBS has a limited annual growth rate of 3.97%.
Dividend Growth(5Y)3.97%
Div Incr Years4
Div Non Decr Years5
SBS.DE Yearly Dividends per shareSBS.DE Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 0.2 0.4 0.6 0.8

5.3 Sustainability

SBS pays out 66.78% of its income as dividend. This is not a sustainable payout ratio.
SBS's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP66.78%
EPS Next 2Y9.41%
EPS Next 3Y14.79%
SBS.DE Yearly Income VS Free CF VS DividendSBS.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10M 20M 30M 40M
SBS.DE Dividend Payout.SBS.DE Dividend Payout, showing the Payout Ratio.SBS.DE Dividend Payout.PayoutRetained Earnings

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STRATEC SE

FRA:SBS (3/28/2025, 1:03:24 PM)

25.2

+0.25 (+1%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)10-25 2024-10-25/bmo
Earnings (Next)N/A N/A
Inst Owners40.85%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap306.43M
Analysts75
Price Target39.67 (57.42%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2%
Yearly Dividend0.97
Dividend Growth(5Y)3.97%
DP66.78%
Div Incr Years4
Div Non Decr Years5
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-18.83%
Min EPS beat(2)-42.68%
Max EPS beat(2)5.01%
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-7.13%
Min Revenue beat(2)-12.12%
Max Revenue beat(2)-2.13%
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)-5.15%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-9.23%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.22%
Valuation
Industry RankSector Rank
PE 30.73
Fwd PE 13.82
P/S 1.22
P/FCF 16.68
P/OCF 8.97
P/B 1.35
P/tB 2.68
EV/EBITDA 10.93
EPS(TTM)0.82
EY3.25%
EPS(NY)1.82
Fwd EY7.24%
FCF(TTM)1.51
FCFY5.99%
OCF(TTM)2.81
OCFY11.14%
SpS20.6
BVpS18.73
TBVpS9.39
PEG (NY)N/A
PEG (5Y)3.97
Profitability
Industry RankSector Rank
ROA 2.22%
ROE 4.4%
ROCE 5.33%
ROIC 3.9%
ROICexc 4.33%
ROICexgc 6.68%
OM 7.6%
PM (TTM) 4%
GM 27.04%
FCFM 7.33%
ROA(3y)7%
ROA(5y)6.68%
ROE(3y)12.67%
ROE(5y)12.33%
ROIC(3y)8.6%
ROIC(5y)7.92%
ROICexc(3y)10.6%
ROICexc(5y)9.83%
ROICexgc(3y)16.34%
ROICexgc(5y)15.62%
ROCE(3y)11.75%
ROCE(5y)10.81%
ROICexcg growth 3Y-24.46%
ROICexcg growth 5Y-1.35%
ROICexc growth 3Y-21.81%
ROICexc growth 5Y2.9%
OM growth 3Y-11.39%
OM growth 5Y5.51%
PM growth 3Y-20.86%
PM growth 5Y0.88%
GM growth 3Y-3.54%
GM growth 5Y-0.73%
F-Score6
Asset Turnover0.56
Health
Industry RankSector Rank
Debt/Equity 0.41
Debt/FCF 8.3
Debt/EBITDA 2.44
Cap/Depr 81.9%
Cap/Sales 6.3%
Interest Coverage 3.07
Cash Conversion 89.14%
Profit Quality 183.45%
Current Ratio 2.52
Quick Ratio 0.93
Altman-Z 2.45
F-Score6
WACC5.86%
ROIC/WACC0.67
Cap/Depr(3y)107.22%
Cap/Depr(5y)115.62%
Cap/Sales(3y)6.87%
Cap/Sales(5y)8.68%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-16.73%
EPS 3Y-19.63%
EPS 5Y7.75%
EPS Q2Q%-47.62%
EPS Next Y-11.17%
EPS Next 2Y9.41%
EPS Next 3Y14.79%
EPS Next 5Y15.73%
Revenue 1Y (TTM)-1.62%
Revenue growth 3Y1.55%
Revenue growth 5Y6.88%
Sales Q2Q%-8.69%
Revenue Next Year-4.72%
Revenue Next 2Y0.53%
Revenue Next 3Y2.87%
Revenue Next 5Y3.82%
EBIT growth 1Y0.25%
EBIT growth 3Y-10.02%
EBIT growth 5Y12.77%
EBIT Next Year55.26%
EBIT Next 3Y30.93%
EBIT Next 5Y22.63%
FCF growth 1Y0.57%
FCF growth 3Y-31.66%
FCF growth 5YN/A
OCF growth 1Y-3.09%
OCF growth 3Y-15.19%
OCF growth 5Y10.2%