
HORNBACH Holding AG & Co. KGaA (HBBHF)
ValueMarkers Composite Index
81% below intrinsic value ($412)
HORNBACH Holding AG & Co. KGaA (HBBHF) — VMCI valuation read
HORNBACH Holding AG & Co. KGaA sits at VMCI 61/100, with the Consumer Cyclical sector median at 50. That 11-point spread is the first thing to note on HBBHF: it tells the reader the composite is favorable before any single ratio is examined, and the mid-cap tier sets the comparison set.
Form 4 disclosures on HBBHF are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.
**Investor frame.** The Value read on HBBHF: HBBHF trades at 16.0x earnings, 11% below the Consumer Cyclical median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 12.0% sits 2.0pp above the Consumer Cyclical median (10.0%). The Risk read: net debt to EBITDA of -0.3x leaves covenant headroom, anchoring the bear scenario on a measurable balance-sheet metric.
HBBHF rose 3.0% over the trailing 7 days, with a -1.2% read on a 30-day basis.
HORNBACH Holding AG & Co. KGaA, through its subsidiaries, develops and operates do-it-yourself (DIY) megastores with garden centers in Germany and other European countries. Its stationary stores offer approximately 50,000 articles in various divisions, including hardware/electrical, paint/wallpaper/flooring, construction materials/timber/prefabricated components, sanitary/tiles, and garden hardware/plants. The company also provides a range of construction materials and tools stocked and supply services, as well as professional advice for various product ranges and lines of trade, including shell construction and roofing; interior fittings and facades; and civil engineering, and garden and landscape construction materials for construction, conversion, or refurbishment projects. In addition, it develops and rents retail real estate properties. As of February 28, 2022, the company operated 165 DIY megastores and garden centers, including 98 stores in Germany; and 14 stores in Austria, 16 stores in the Netherlands, 1 store in Luxembourg, 10 stores in the Czech Republic, 8 stores in Switzerland, 8 stores in Sweden, 4 stores in Slovakia, and 8 stores in Romania, as well as 36 builders' merchant outlets in south-western Germany, and two specialist stores in France. It also operates HORNBACH online stores. The company was founded in 1877 and is based in Bornheim, Germany.
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