CENIT AG (CSH.DE) Stock Fundamental Analysis
FRA:CSH - Deutsche Boerse Ag - DE0005407100 - Common Stock - Currency: EUR
We assign a fundamental rating of 4 out of 10 to CSH. CSH was compared to 101 industry peers in the Software industry. While CSH is still in line with the averages on profitability rating, there are concerns on its financial health. CSH has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
CSH had positive earnings in the past year.
CSH had a positive operating cash flow in the past year.
Each year in the past 5 years CSH has been profitable.
Each year in the past 5 years CSH had a positive operating cash flow.
1.2 Ratios
CSH has a Return On Assets of 1.97%. This is comparable to the rest of the industry: CSH outperforms 50.51% of its industry peers.
Looking at the Return On Equity, with a value of 7.12%, CSH is in line with its industry, outperforming 57.58% of the companies in the same industry.
CSH's Return On Invested Capital of 6.17% is fine compared to the rest of the industry. CSH outperforms 62.63% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for CSH is below the industry average of 11.53%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.97% | ||
| ROE | 7.12% | ||
| ROIC | 6.17% |
ROA(3y)4.15%
ROA(5y)4.58%
ROE(3y)11.73%
ROE(5y)11.59%
ROIC(3y)6.72%
ROIC(5y)7.56%
1.3 Margins
CSH has a Profit Margin of 1.49%. This is comparable to the rest of the industry: CSH outperforms 46.46% of its industry peers.
CSH's Profit Margin has declined in the last couple of years.
The Operating Margin of CSH (4.23%) is comparable to the rest of the industry.
In the last couple of years the Operating Margin of CSH has declined.
Looking at the Gross Margin, with a value of 58.35%, CSH is doing worse than 60.61% of the companies in the same industry.
In the last couple of years the Gross Margin of CSH has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 4.23% | ||
| PM (TTM) | 1.49% | ||
| GM | 58.35% |
OM growth 3Y17.18%
OM growth 5Y-4.32%
PM growth 3Y15.63%
PM growth 5Y-7%
GM growth 3Y6.12%
GM growth 5Y2.94%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so CSH is destroying value.
Compared to 1 year ago, CSH has about the same amount of shares outstanding.
The number of shares outstanding for CSH remains at a similar level compared to 5 years ago.
The debt/assets ratio for CSH is higher compared to a year ago.
2.2 Solvency
An Altman-Z score of 2.29 indicates that CSH is not a great score, but indicates only limited risk for bankruptcy at the moment.
With a Altman-Z score value of 2.29, CSH perfoms like the industry average, outperforming 48.48% of the companies in the same industry.
The Debt to FCF ratio of CSH is 8.27, which is on the high side as it means it would take CSH, 8.27 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 8.27, CSH is in line with its industry, outperforming 51.52% of the companies in the same industry.
CSH has a Debt/Equity ratio of 0.93. This is a neutral value indicating CSH is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.93, CSH is doing worse than 78.79% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.93 | ||
| Debt/FCF | 8.27 | ||
| Altman-Z | 2.29 |
ROIC/WACC0.86
WACC7.16%
2.3 Liquidity
A Current Ratio of 1.26 indicates that CSH should not have too much problems paying its short term obligations.
CSH has a Current ratio (1.26) which is in line with its industry peers.
A Quick Ratio of 1.26 indicates that CSH should not have too much problems paying its short term obligations.
CSH has a Quick ratio (1.26) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.26 | ||
| Quick Ratio | 1.26 |
3. Growth
3.1 Past
The earnings per share for CSH have decreased strongly by -58.89% in the last year.
The Earnings Per Share has been decreasing by -5.72% on average over the past years.
The Revenue has grown by 12.95% in the past year. This is quite good.
The Revenue has been growing slightly by 1.68% on average over the past years.
EPS 1Y (TTM)-58.89%
EPS 3Y24.11%
EPS 5Y-5.72%
EPS Q2Q%-2.97%
Revenue 1Y (TTM)12.95%
Revenue growth 3Y7.85%
Revenue growth 5Y1.68%
Sales Q2Q%13.62%
3.2 Future
Based on estimates for the next years, CSH will show a quite strong growth in Earnings Per Share. The EPS will grow by 15.53% on average per year.
The Revenue is expected to grow by 6.74% on average over the next years.
EPS Next Y-33.45%
EPS Next 2Y9.24%
EPS Next 3Y15.53%
EPS Next 5YN/A
Revenue Next Year12.92%
Revenue Next 2Y10.86%
Revenue Next 3Y8.92%
Revenue Next 5Y6.74%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 23.47, the valuation of CSH can be described as rather expensive.
82.83% of the companies in the same industry are more expensive than CSH, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of CSH to the average of the S&P500 Index (29.35), we can say CSH is valued slightly cheaper.
The Price/Forward Earnings ratio is 11.78, which indicates a very decent valuation of CSH.
Based on the Price/Forward Earnings ratio, CSH is valued cheaper than 91.92% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.10, CSH is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.47 | ||
| Fwd PE | 11.78 |
4.2 Price Multiples
CSH's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. CSH is cheaper than 90.91% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, CSH is valued cheaper than 85.86% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 13.24 | ||
| EV/EBITDA | 5.92 |
4.3 Compensation for Growth
CSH's earnings are expected to grow with 15.53% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y9.24%
EPS Next 3Y15.53%
5. Dividend
5.1 Amount
CSH has a yearly dividend return of 0.49%, which is pretty low.
Compared to an average industry Dividend Yield of 2.92, CSH pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.33, CSH's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.49% |
5.2 History
The dividend of CSH decreases each year by -12.94%.
Dividend Growth(5Y)-12.94%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
CSH pays out 11.06% of its income as dividend. This is a sustainable payout ratio.
DP11.06%
EPS Next 2Y9.24%
EPS Next 3Y15.53%
FRA:CSH (3/7/2025, 7:00:00 PM)
8.45
+0.25 (+3.05%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)
Earnings (Next)
Inst Owners51.82%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap70.73M
Analysts88
Price Target16.95 (100.59%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.49% |
Yearly Dividend0.5
Dividend Growth(5Y)-12.94%
DP11.06%
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)-9.53%
PT rev (3m)-11.8%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-22.35%
EPS NY rev (3m)-43.43%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.75%
Revenue NY rev (3m)-1.58%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.47 | ||
| Fwd PE | 11.78 | ||
| P/S | 0.35 | ||
| P/FCF | 13.24 | ||
| P/OCF | 10.5 | ||
| P/B | 1.66 | ||
| P/tB | N/A | ||
| EV/EBITDA | 5.92 |
EPS(TTM)0.36
EY4.26%
EPS(NY)0.72
Fwd EY8.49%
FCF(TTM)0.64
FCFY7.55%
OCF(TTM)0.8
OCFY9.52%
SpS24.24
BVpS5.09
TBVpS-2.79
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.97% | ||
| ROE | 7.12% | ||
| ROCE | 8.55% | ||
| ROIC | 6.17% | ||
| ROICexc | 7.02% | ||
| ROICexgc | 27.8% | ||
| OM | 4.23% | ||
| PM (TTM) | 1.49% | ||
| GM | 58.35% | ||
| FCFM | 2.63% |
ROA(3y)4.15%
ROA(5y)4.58%
ROE(3y)11.73%
ROE(5y)11.59%
ROIC(3y)6.72%
ROIC(5y)7.56%
ROICexc(3y)10.72%
ROICexc(5y)12.22%
ROICexgc(3y)23.18%
ROICexgc(5y)22.97%
ROCE(3y)10.3%
ROCE(5y)11.08%
ROICexcg growth 3Y9.65%
ROICexcg growth 5Y-18.29%
ROICexc growth 3Y-8.45%
ROICexc growth 5Y-22.02%
OM growth 3Y17.18%
OM growth 5Y-4.32%
PM growth 3Y15.63%
PM growth 5Y-7%
GM growth 3Y6.12%
GM growth 5Y2.94%
F-Score6
Asset Turnover1.32
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.93 | ||
| Debt/FCF | 8.27 | ||
| Debt/EBITDA | 2.28 | ||
| Cap/Depr | 15.89% | ||
| Cap/Sales | 0.69% | ||
| Interest Coverage | 3.62 | ||
| Cash Conversion | 38.82% | ||
| Profit Quality | 176.34% | ||
| Current Ratio | 1.26 | ||
| Quick Ratio | 1.26 | ||
| Altman-Z | 2.29 |
F-Score6
WACC7.16%
ROIC/WACC0.86
Cap/Depr(3y)18.39%
Cap/Depr(5y)22.02%
Cap/Sales(3y)0.66%
Cap/Sales(5y)0.8%
Profit Quality(3y)142.82%
Profit Quality(5y)211.42%
High Growth Momentum
Growth
EPS 1Y (TTM)-58.89%
EPS 3Y24.11%
EPS 5Y-5.72%
EPS Q2Q%-2.97%
EPS Next Y-33.45%
EPS Next 2Y9.24%
EPS Next 3Y15.53%
EPS Next 5YN/A
Revenue 1Y (TTM)12.95%
Revenue growth 3Y7.85%
Revenue growth 5Y1.68%
Sales Q2Q%13.62%
Revenue Next Year12.92%
Revenue Next 2Y10.86%
Revenue Next 3Y8.92%
Revenue Next 5Y6.74%
EBIT growth 1Y3.18%
EBIT growth 3Y26.38%
EBIT growth 5Y-2.72%
EBIT Next Year132.69%
EBIT Next 3Y50.07%
EBIT Next 5Y28.58%
FCF growth 1Y-49.28%
FCF growth 3Y-29.93%
FCF growth 5Y-13.15%
OCF growth 1Y-39.7%
OCF growth 3Y-24.28%
OCF growth 5Y-11.13%