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DOCCHECK AG (AJ91.DE) Stock Fundamental Analysis

FRA:AJ91 - Deutsche Boerse Ag - DE000A1A6WE6 - Common Stock - Currency: EUR

10.1  -0.1 (-0.98%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to AJ91. AJ91 was compared to 12 industry peers in the Health Care Technology industry. AJ91 is in great health and has no worries on liquidiy or solvency at all, but the profibility rating is only average. AJ91 has a valuation in line with the averages, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

AJ91 had positive earnings in the past year.
AJ91 had a positive operating cash flow in the past year.
In the past 5 years AJ91 has always been profitable.
AJ91 had a positive operating cash flow in each of the past 5 years.
AJ91.DE Yearly Net Income VS EBIT VS OCF VS FCFAJ91.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 5M 10M 15M

1.2 Ratios

Looking at the Return On Assets, with a value of 4.38%, AJ91 is in line with its industry, outperforming 58.33% of the companies in the same industry.
AJ91 has a Return On Equity of 6.65%. This is comparable to the rest of the industry: AJ91 outperforms 58.33% of its industry peers.
With a decent Return On Invested Capital value of 5.26%, AJ91 is doing good in the industry, outperforming 66.67% of the companies in the same industry.
AJ91 had an Average Return On Invested Capital over the past 3 years of 13.43%. This is significantly above the industry average of 7.83%.
The 3 year average ROIC (13.43%) for AJ91 is well above the current ROIC(5.26%). The reason for the recent decline needs to be investigated.
Industry RankSector Rank
ROA 4.38%
ROE 6.65%
ROIC 5.26%
ROA(3y)11.53%
ROA(5y)12.99%
ROE(3y)17.63%
ROE(5y)19.38%
ROIC(3y)13.43%
ROIC(5y)15.32%
AJ91.DE Yearly ROA, ROE, ROICAJ91.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 10 20 30

1.3 Margins

AJ91 has a Profit Margin of 4.73%. This is comparable to the rest of the industry: AJ91 outperforms 58.33% of its industry peers.
In the last couple of years the Profit Margin of AJ91 has declined.
AJ91 has a Operating Margin of 7.42%. This is comparable to the rest of the industry: AJ91 outperforms 58.33% of its industry peers.
In the last couple of years the Operating Margin of AJ91 has declined.
AJ91's Gross Margin of 79.98% is fine compared to the rest of the industry. AJ91 outperforms 66.67% of its industry peers.
In the last couple of years the Gross Margin of AJ91 has remained more or less at the same level.
Industry RankSector Rank
OM 7.42%
PM (TTM) 4.73%
GM 79.98%
OM growth 3Y-31.98%
OM growth 5Y-12.53%
PM growth 3Y-33.68%
PM growth 5Y-11.9%
GM growth 3Y8.18%
GM growth 5Y0.31%
AJ91.DE Yearly Profit, Operating, Gross MarginsAJ91.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 20 40 60 80

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8

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so AJ91 is creating value.
AJ91 has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, AJ91 has more shares outstanding
Compared to 1 year ago, AJ91 has a worse debt to assets ratio.
AJ91.DE Yearly Shares OutstandingAJ91.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 1M 2M 3M 4M 5M
AJ91.DE Yearly Total Debt VS Total AssetsAJ91.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M

2.2 Solvency

AJ91 has an Altman-Z score of 4.02. This indicates that AJ91 is financially healthy and has little risk of bankruptcy at the moment.
With an excellent Altman-Z score value of 4.02, AJ91 belongs to the best of the industry, outperforming 83.33% of the companies in the same industry.
There is no outstanding debt for AJ91. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF 0
Altman-Z 4.02
ROIC/WACC0.76
WACC6.9%
AJ91.DE Yearly LT Debt VS Equity VS FCFAJ91.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10M 20M 30M

2.3 Liquidity

A Current Ratio of 2.57 indicates that AJ91 has no problem at all paying its short term obligations.
With an excellent Current ratio value of 2.57, AJ91 belongs to the best of the industry, outperforming 83.33% of the companies in the same industry.
A Quick Ratio of 2.34 indicates that AJ91 has no problem at all paying its short term obligations.
Looking at the Quick ratio, with a value of 2.34, AJ91 belongs to the top of the industry, outperforming 83.33% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.57
Quick Ratio 2.34
AJ91.DE Yearly Current Assets VS Current LiabilitesAJ91.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M

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1

3. Growth

3.1 Past

The earnings per share for AJ91 have decreased strongly by -58.59% in the last year.
AJ91 shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -0.08% yearly.
The Revenue for AJ91 has decreased by -10.26% in the past year. This is quite bad
Measured over the past years, AJ91 shows a quite strong growth in Revenue. The Revenue has been growing by 13.52% on average per year.
EPS 1Y (TTM)-58.59%
EPS 3Y-37.32%
EPS 5Y-0.08%
EPS Q2Q%10.24%
Revenue 1Y (TTM)-10.26%
Revenue growth 3Y-5.4%
Revenue growth 5Y13.52%
Sales Q2Q%-6.79%

3.2 Future

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
AJ91.DE Yearly Revenue VS EstimatesAJ91.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M
AJ91.DE Yearly EPS VS EstimatesAJ91.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

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4

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 21.04, the valuation of AJ91 can be described as rather expensive.
AJ91's Price/Earnings ratio is a bit cheaper when compared to the industry. AJ91 is cheaper than 75.00% of the companies in the same industry.
AJ91's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 29.35.
Industry RankSector Rank
PE 21.04
Fwd PE N/A
AJ91.DE Price Earnings VS Forward Price EarningsAJ91.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 0 0 0 0

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of AJ91 indicates a rather cheap valuation: AJ91 is cheaper than 100.00% of the companies listed in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of AJ91 indicates a rather cheap valuation: AJ91 is cheaper than 100.00% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 6.45
EV/EBITDA 3.03
AJ91.DE Per share dataAJ91.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

AJ91 has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A

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6

5. Dividend

5.1 Amount

AJ91 has a Yearly Dividend Yield of 4.95%, which is a nice return.
AJ91's Dividend Yield is rather good when compared to the industry average which is at 3.21. AJ91 pays more dividend than 91.67% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.33, AJ91 pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.95%

5.2 History

The dividend of AJ91 is nicely growing with an annual growth rate of 13.35%!
Dividend Growth(5Y)13.35%
Div Incr Years0
Div Non Decr Years0
AJ91.DE Yearly Dividends per shareAJ91.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

103.98% of the earnings are spent on dividend by AJ91. This is not a sustainable payout ratio.
The Dividend Rate of AJ91 has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP103.98%
EPS Next 2YN/A
EPS Next 3YN/A
AJ91.DE Yearly Income VS Free CF VS DividendAJ91.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2M 4M 6M 8M 10M
AJ91.DE Dividend Payout.AJ91.DE Dividend Payout, showing the Payout Ratio.AJ91.DE Dividend Payout.PayoutRetained Earnings

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DOCCHECK AG

FRA:AJ91 (3/6/2025, 7:00:00 PM)

10.1

-0.1 (-0.98%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Technology
Earnings (Last)09-20 2024-09-20
Earnings (Next)N/A N/A
Inst Owners8.86%
Inst Owner ChangeN/A
Ins Owners71.92%
Ins Owner ChangeN/A
Market Cap51.21M
AnalystsN/A
Price TargetN/A
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.95%
Yearly Dividend0.75
Dividend Growth(5Y)13.35%
DP103.98%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
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)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
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)N/A
PT rev (3m)N/A
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 21.04
Fwd PE N/A
P/S 0.99
P/FCF 6.45
P/OCF 5.54
P/B 1.4
P/tB 1.4
EV/EBITDA 3.03
EPS(TTM)0.48
EY4.75%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)1.57
FCFY15.51%
OCF(TTM)1.82
OCFY18.04%
SpS10.18
BVpS7.23
TBVpS7.21
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 4.38%
ROE 6.65%
ROCE 9.09%
ROIC 5.26%
ROICexc 10.27%
ROICexgc 10.32%
OM 7.42%
PM (TTM) 4.73%
GM 79.98%
FCFM 15.38%
ROA(3y)11.53%
ROA(5y)12.99%
ROE(3y)17.63%
ROE(5y)19.38%
ROIC(3y)13.43%
ROIC(5y)15.32%
ROICexc(3y)24.61%
ROICexc(5y)32.31%
ROICexgc(3y)25.2%
ROICexgc(5y)34.1%
ROCE(3y)23.19%
ROCE(5y)26.45%
ROICexcg growth 3Y-50.74%
ROICexcg growth 5Y-17.09%
ROICexc growth 3Y-49.55%
ROICexc growth 5Y-16.39%
OM growth 3Y-31.98%
OM growth 5Y-12.53%
PM growth 3Y-33.68%
PM growth 5Y-11.9%
GM growth 3Y8.18%
GM growth 5Y0.31%
F-Score5
Asset Turnover0.93
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF 0
Debt/EBITDA 0
Cap/Depr 27.51%
Cap/Sales 2.51%
Interest Coverage 250
Cash Conversion 108.14%
Profit Quality 325.54%
Current Ratio 2.57
Quick Ratio 2.34
Altman-Z 4.02
F-Score5
WACC6.9%
ROIC/WACC0.76
Cap/Depr(3y)141.51%
Cap/Depr(5y)134.78%
Cap/Sales(3y)6.27%
Cap/Sales(5y)5.5%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-58.59%
EPS 3Y-37.32%
EPS 5Y-0.08%
EPS Q2Q%10.24%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-10.26%
Revenue growth 3Y-5.4%
Revenue growth 5Y13.52%
Sales Q2Q%-6.79%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-52.95%
EBIT growth 3Y-35.65%
EBIT growth 5Y-0.7%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y359.94%
FCF growth 3Y-11.57%
FCF growth 5Y34.65%
OCF growth 1Y106.36%
OCF growth 3Y-13.35%
OCF growth 5Y12.23%