View Future GrowthErcros 過去の業績過去 基準チェック /06Ercrosの収益は年間平均-53.7%の割合で減少していますが、 Chemicals業界の収益は年間 増加しています。収益は年間0.4% 5.3%割合で 減少しています。主要情報-53.75%収益成長率-59.50%EPS成長率Chemicals 業界の成長13.08%収益成長率-5.35%株主資本利益率-20.12%ネット・マージン-9.17%前回の決算情報31 Mar 2026最近の業績更新Reported Earnings • May 19First quarter 2026 earnings releasedFirst quarter 2026 results: €0.15 loss per share. Revenue: €154.3m (down 14% from 1Q 2025). Net loss: €13.6m (loss widened 12% from 1Q 2025). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Chemicals industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance.お知らせ • Jan 29Ercros, S.A. to Report Fiscal Year 2025 Results on Feb 27, 2026Ercros, S.A. announced that they will report fiscal year 2025 results on Feb 27, 2026Reported Earnings • Nov 12Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: €161.5m (up 4.3% from 3Q 2024). Net loss: €12.0m (loss widened 30% from 3Q 2024). Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Chemicals industry in Europe.お知らせ • Oct 12Ercros, S.A. to Report Q3, 2025 Results on Nov 11, 2025Ercros, S.A. announced that they will report Q3, 2025 results on Nov 11, 2025Reported Earnings • Jul 30Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: €180.0m (up 1.4% from 2Q 2024). Net loss: €17.1m (loss widened €15.5m from 2Q 2024). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Chemicals industry in Europe.Reported Earnings • May 15First quarter 2025 earnings releasedFirst quarter 2025 results: €0.13 loss per share. Revenue: €184.5m (up 1.0% from 1Q 2024). Net loss: €12.2m (down 499% from profit in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance.すべての更新を表示Recent updatesお知らせ • May 28Ercros, S.A., Annual General Meeting, Jun 30, 2026Ercros, S.A., Annual General Meeting, Jun 30, 2026. Location: avenida diagonal 191, barcelona., SpainBoard Change • May 19Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Carme Moragues Josa was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • May 19First quarter 2026 earnings releasedFirst quarter 2026 results: €0.15 loss per share. Revenue: €154.3m (down 14% from 1Q 2025). Net loss: €13.6m (loss widened 12% from 1Q 2025). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Chemicals industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance.お知らせ • Jan 29Ercros, S.A. to Report Fiscal Year 2025 Results on Feb 27, 2026Ercros, S.A. announced that they will report fiscal year 2025 results on Feb 27, 2026Reported Earnings • Nov 12Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: €161.5m (up 4.3% from 3Q 2024). Net loss: €12.0m (loss widened 30% from 3Q 2024). Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Chemicals industry in Europe.Board Change • Nov 11Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 5 highly experienced directors. Proprietary Director Joan Galofre was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.お知らせ • Oct 12Ercros, S.A. to Report Q3, 2025 Results on Nov 11, 2025Ercros, S.A. announced that they will report Q3, 2025 results on Nov 11, 2025お知らせ • Aug 12Esseco Industrial S.P.A. cancelled the acquisition of Ercros, S.A. (BME:ECR).Esseco Industrial S.P.A. made an offer to acquire Ercros, S.A. (BME:ECR) for approximately €350 million on June 19, 2024. A cash consideration valued at €3.84 per share will be paid by Esseco Industrial S.P.A. Under the terms, the compensation will be in cash and amounts to a maximum total of €351.1 million. Esseco will promote talent retention and maintain Ercros' headquarters in Barcelona. The offer price has been calculated on the basis that if the target company makes any distribution of dividends, the offer price would be reduced by an amount equivalent to the gross amount per share of such distribution. The offer is addressed to the entire share capital of Ercros and is subject to a minimum acceptance condition of 75% as well as to the customary administrative and governmental authorisations for this type of transactions, which will be described in detail in the prospectus that will be made available to shareholders upon completion of its processing by the Comisión Nacional del Mercado de Valores. As of June 28, 2024, the general meeting has approved all the resolution proposals presented by the board of directors of Ercros. The management body of the Bidder approved by unanimity of all its directors on 19 June 2024 launching the Offer, subject to obtaining the necessary financing commitments to ensure the Offeror’s full payment of the cash consideration. As of July 11, 2024, In relation to the takeover bid presented by Bondalti for the capital of Ercros, the Portuguese company states that, as a result of the dividend charged to the 2023 profit of gross €0.096 per share that Ercros paid to its shareholders on July 10, 2024, Bidder has adjusted the Offer price, has deducted this amount from the takeover price and, after rounding the resulting figure, the price becomes €3.745 per share. The National Markets Commission (CNMC) has begun phase two of its analysis of Esseco's takeover bid for Ercros. The company has notified the National Securities Market Commission (CNMV), the stock market supervisor, of this step and has recalled that the CNMC's lack of opposition to the operation is one of the conditions to which the "effectiveness" of the offer is subject. The board of directors and the management team of Ercros will continue to manage the Company's business diligently in the ordinary course of its activity, ensuring the corporate interest and with full respect for the obligations established by the applicable regulations, for which it has the advice from Evercore Partners International LLP, as financial advisor, and from Uría Menéndez Abogados, S.L.P., as legal advisor. Esseco has been advised by J.P. Morgan as financial advisor and Gianni & Origoni as well as Javier Carvajal, Javier Gómez and Teresa Méndez of Pérez-Llorca Abogados, S.L.P. as legal counsels. Esseco Industrial S.P.A. cancelled the acquisition of Ercros, S.A. (BME:ECR) on August 11, 2025.New Risk • Aug 11New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Spanish stocks, typically moving 5.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (7.5% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.0% average weekly change).Reported Earnings • Jul 30Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: €180.0m (up 1.4% from 2Q 2024). Net loss: €17.1m (loss widened €15.5m from 2Q 2024). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Chemicals industry in Europe.Reported Earnings • May 15First quarter 2025 earnings releasedFirst quarter 2025 results: €0.13 loss per share. Revenue: €184.5m (up 1.0% from 1Q 2024). Net loss: €12.2m (down 499% from profit in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance.お知らせ • May 14Ercros, S.A., Annual General Meeting, Jun 26, 2025Ercros, S.A., Annual General Meeting, Jun 26, 2025. Location: avenida diagonal 514, planta 6., barcelona Spainお知らせ • Apr 16Ercros, S.A. to Report Q1, 2025 Results on May 13, 2025Ercros, S.A. announced that they will report Q1, 2025 results on May 13, 2025お知らせ • Mar 05Ercros, S.A. to Report Fiscal Year 2024 Final Results on Mar 31, 2025Ercros, S.A. announced that they will report fiscal year 2024 final results at 5:30 PM, Romance Standard Time on Mar 31, 2025Reported Earnings • Feb 27Full year 2024 earnings releasedFull year 2024 results: Revenue: €699.0m (down 3.8% from FY 2023). Net loss: €11.7m (down 141% from profit in FY 2023).Buy Or Sell Opportunity • Feb 12Now 21% overvaluedOver the last 90 days, the stock has fallen 8.2% to €3.25. The fair value is estimated to be €2.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only.お知らせ • Jan 28Ercros, S.A. to Report Second Half, 2024 Results on Feb 25, 2025Ercros, S.A. announced that they will report second half, 2024 results on Feb 25, 2025Reported Earnings • Nov 08Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: €173.5m (up 12% from 3Q 2023). Net loss: €9.20m (loss narrowed 15% from 3Q 2023). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Chemicals industry in Europe.Major Estimate Revision • Aug 06Consensus EPS estimates fall by 14%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €784.4m to €767.9m. EPS estimate also fell from €0.175 per share to €0.15 per share. Net income forecast to grow 45% next year vs 29% growth forecast for Chemicals industry in Spain. Consensus price target of €4.55 unchanged from last update. Share price was steady at €3.82 over the past week.Reported Earnings • Aug 01Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: €188.4m (down 11% from 2Q 2023). Net loss: €1.66m (down 143% from profit in 2Q 2023). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Chemicals industry in Europe. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.Upcoming Dividend • Jul 01Upcoming dividend of €0.078 per shareEligible shareholders must have bought the stock before 08 July 2024. Payment date: 10 July 2024. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Spanish dividend payers (5.5%). Lower than average of industry peers (2.8%).Reported Earnings • May 02First quarter 2024 earnings releasedFirst quarter 2024 results: EPS: €0.033. Revenue: €188.7m (down 14% from 1Q 2023). Net income: €3.05m (down 78% from 1Q 2023). Profit margin: 1.6% (down from 6.4% in 1Q 2023). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Chemicals industry in Europe.Major Estimate Revision • May 01Consensus EPS estimates fall by 33%, revenue upgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from €771.9m to €784.4m. EPS estimate fell from €0.26 to €0.175 per share. Net income forecast to shrink 37% next year vs 28% growth forecast for Chemicals industry in Spain . Consensus price target up from €4.40 to €4.55. Share price was steady at €3.52 over the past week.Buy Or Sell Opportunity • Mar 06Now 25% overvalued after recent price riseOver the last 90 days, the stock has risen 40% to €3.42. The fair value is estimated to be €2.73, however this is not to be taken as a sell recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 4.8% per annum. Earnings are also forecast to grow by 7.6% per annum over the same time period.お知らせ • Mar 05Bondalti Ibérica launched a public takeover offer to acquire Ercros, S.A. (BME:ECR) for €340 million .Bondalti Ibérica launched a public takeover offer to acquire Ercros, S.A. (BME:ECR) for €340 million on March 5, 2024. Offer price is €3.6 per share. The transaction is still conditional on the acceptance of more than 75% of the capital and the obtaining of all relevant regulatory and governmental approvals.分析記事 • Mar 02Estimating The Intrinsic Value Of Ercros, S.A. (BME:ECR)Key Insights The projected fair value for Ercros is €2.74 based on 2 Stage Free Cash Flow to Equity Ercros' €2.57 share...Reported Earnings • Mar 01Full year 2023 earnings: Revenues miss analyst expectationsFull year 2023 results: Revenue: €757.6m (down 26% from FY 2022). Net income: €28.8m (down 59% from FY 2022). Profit margin: 3.8% (down from 6.9% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.2%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Europe.New Risk • Feb 27New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Spanish stocks, typically moving 4.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (4.3% average weekly change). Profit margins are more than 30% lower than last year (2.6% net profit margin).分析記事 • Dec 20At €2.75, Is It Time To Put Ercros, S.A. (BME:ECR) On Your Watch List?While Ercros, S.A. ( BME:ECR ) might not be the most widely known stock at the moment, it saw a double-digit share...お知らせ • Dec 01+ 2 more updatesErcros, S.A. to Report Q3, 2024 Results on Nov 15, 2024Ercros, S.A. announced that they will report Q3, 2024 results on Nov 15, 2024Major Estimate Revision • Nov 12Consensus EPS estimates fall by 32%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €804.7m to €774.5m. EPS estimate also fell from €0.365 per share to €0.25 per share. Net income forecast to shrink 43% next year vs 6.4% growth forecast for Chemicals industry in Spain . Consensus price target of €4.40 unchanged from last update. Share price fell 14% to €2.52 over the past week.分析記事 • Nov 10Here's Why Ercros (BME:ECR) Has A Meaningful Debt BurdenDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...New Risk • Nov 08New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.8% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.2% net profit margin).お知らせ • Oct 18Ercros, S.A. to Report Q3, 2023 Results on Nov 08, 2023Ercros, S.A. announced that they will report Q3, 2023 results on Nov 08, 2023New Risk • Jul 28New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.2% Last year net profit margin: 8.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.2% net profit margin).Reported Earnings • Jul 27Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: €222.4m (down 22% from 2Q 2022). Net income: €3.81m (down 87% from 2Q 2022). Profit margin: 1.7% (down from 10% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 1.4% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Europe are expected to grow by 2.5%. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth.Board Change • Jul 02Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Proprietary Director Joan Galofre was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.New Risk • Jun 29New major risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Spanish stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.8% average weekly change).お知らせ • Jun 23+ 1 more updateErcros, S.A. to Report First Half, 2023 Results on Aug 31, 2023Ercros, S.A. announced that they will report first half, 2023 results on Aug 31, 2023Upcoming Dividend • Jun 19Upcoming dividend of €0.12 per share at 4.8% yieldEligible shareholders must have bought the stock before 26 June 2023. Payment date: 28 June 2023. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Spanish dividend payers (5.8%). Higher than average of industry peers (4.0%).お知らせ • May 04Ercros, S.A., Annual General Meeting, Jun 15, 2023Ercros, S.A., Annual General Meeting, Jun 15, 2023, at 12:00 Central European Standard Time. Location: Uría Menéndez Auditorium, Avenida Diagonal 514, 6th floor Barcelona Spain Agenda: To consider financial statements and directors' report; to consider statement of non-financial information of the Company and its consolidated Group for the year ended 31 December 2022; to consider Re-election of Ernst & Young, S.L. as the auditor.Buying Opportunity • May 03Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 3.4%. The fair value is estimated to be €4.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 48%. For the next 3 years, revenue is forecast to decline by 5.4% per annum. Earnings is also forecast to decline by 12% per annum over the same time period.分析記事 • Apr 26Here's Why Ercros (BME:ECR) Can Manage Its Debt ResponsiblySome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Reported Earnings • Feb 24Full year 2022 earnings released: EPS: €0.64 (vs €0.43 in FY 2021)Full year 2022 results: EPS: €0.64 (up from €0.43 in FY 2021). Revenue: €1.02b (up 28% from FY 2021). Net income: €70.6m (up 63% from FY 2021). Profit margin: 6.9% (up from 5.4% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 8.9% p.a. on average during the next 2 years, while revenues in the Chemicals industry in Europe are expected to grow by 2.4%. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth.お知らせ • Jan 30Ercros, S.A. to Report Fiscal Year 2022 Results on Feb 28, 2023Ercros, S.A. announced that they will report fiscal year 2022 results on Feb 28, 2023Buying Opportunity • Nov 10Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 3.7%. The fair value is estimated to be €4.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 36%. Revenue is forecast to decline by 13% in 2 years. Earnings is forecast to decline by 40% in the next 2 years.Reported Earnings • Jul 30Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: €297.7m (up 50% from 2Q 2021). Net income: €29.1m (up 152% from 2Q 2021). Profit margin: 9.8% (up from 5.8% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 3.5% compared to a 16% growth forecast for the industry in Spain.Upcoming Dividend • Jun 13Upcoming dividend of €0.069 per shareEligible shareholders must have bought the stock before 20 June 2022. Payment date: 22 June 2022. Trailing yield: 2.5%. Lower than top quartile of Spanish dividend payers (5.7%). Lower than average of industry peers (3.6%).Buying Opportunity • May 12Now 23% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be €4.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 6.1%. Revenue is forecast to decline by 7.7% in 2 years. Earnings is forecast to decline by 13% in the next 2 years.分析記事 • Mar 07Ercros (BME:ECR) Will Be Hoping To Turn Its Returns On Capital AroundIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...Buying Opportunity • Mar 03Now 23% undervaluedOver the last 90 days, the stock is up 9.0%. The fair value is estimated to be €4.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 6.1% per annum over the last 3 years.分析記事 • Jan 25Why Ercros, S.A. (BME:ECR) Could Be Worth WatchingErcros, S.A. ( BME:ECR ), might not be a large cap stock, but it saw significant share price movement during recent...Reported Earnings • Nov 14Third quarter 2021 earnings releasedThe company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €210.9m (up 56% from 3Q 2020). Net income: €5.90m (up €5.70m from 3Q 2020). Profit margin: 2.8% (up from 0.1% in 3Q 2020). The increase in margin was driven by higher revenue.分析記事 • Sep 07Should You Investigate Ercros, S.A. (BME:ECR) At €3.71?Ercros, S.A. ( BME:ECR ), is not the largest company out there, but it saw a significant share price rise of over 20...分析記事 • Jun 09A Look At The Fair Value Of Ercros, S.A. (BME:ECR)Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Ercros, S.A. ( BME:ECR...分析記事 • May 23Here's Why Ercros (BME:ECR) Has A Meaningful Debt BurdenSome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Valuation Update With 7 Day Price Move • May 11Investor sentiment improved over the past weekAfter last week's 19% share price gain to €3.14, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 21x in the Chemicals industry in Europe. Total loss to shareholders of 28% over the past three years.分析記事 • May 05Should Ercros, S.A. (BME:ECR) Be Part Of Your Dividend Portfolio?Today we'll take a closer look at Ercros, S.A. ( BME:ECR ) from a dividend investor's perspective. Owning a strong...分析記事 • Mar 12Should You Think About Buying Ercros, S.A. (BME:ECR) Now?Ercros, S.A. ( BME:ECR ), might not be a large cap stock, but it saw a decent share price growth in the teens level on...Reported Earnings • Mar 01Full year 2020 earnings released: EPS €0.061 (vs €0.29 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €585.3m (down 13% from FY 2019). Net income: €6.26m (down 80% from FY 2019). Profit margin: 1.1% (down from 4.6% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.Analyst Estimate Surprise Post Earnings • Mar 01Revenue beats expectations, earnings disappointRevenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates by 39%. Over the next year, revenue is forecast to grow 5.8%, compared to a 4.6% growth forecast for the Chemicals industry in Spain.分析記事 • Feb 22Is Ercros (BME:ECR) A Future Multi-bagger?Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Is New 90 Day High Low • Feb 16New 90-day high: €2.48The company is up 18% from its price of €2.11 on 18 November 2020. The Spanish market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 8.0% over the same period.分析記事 • Feb 05Here's Why Ercros (BME:ECR) Has A Meaningful Debt BurdenSome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...分析記事 • Jan 20Read This Before Buying Ercros, S.A. (BME:ECR) For Its DividendIs Ercros, S.A. ( BME:ECR ) a good dividend stock? How can we tell? Dividend paying companies with growing earnings can...Is New 90 Day High Low • Jan 06New 90-day high: €2.44The company is up 27% from its price of €1.92 on 08 October 2020. The Spanish market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 5.0% over the same period.分析記事 • Jan 05Is Ercros, S.A.'s (BME:ECR) Recent Stock Performance Influenced By Its Fundamentals In Any Way?Ercros (BME:ECR) has had a great run on the share market with its stock up by a significant 20% over the last three...分析記事 • Dec 18Calculating The Intrinsic Value Of Ercros, S.A. (BME:ECR)In this article we are going to estimate the intrinsic value of Ercros, S.A. ( BME:ECR ) by projecting its future cash...分析記事 • Nov 29Shareholders Of Ercros (BME:ECR) Must Be Happy With Their 257% Total ReturnWhen you buy a stock there is always a possibility that it could drop 100%. But when you pick a company that is really...Valuation Update With 7 Day Price Move • Nov 26Market bids up stock over the past weekAfter last week's 18% share price gain to €2.41, the stock is trading at a trailing P/E ratio of 10.1x, up from the previous P/E ratio of 8.6x. This compares to an average P/E of 21x in the Chemicals industry in Europe. Total returns to shareholders over the past three years were flat.Is New 90 Day High Low • Nov 24New 90-day high: €2.18The company is up 6.0% from its price of €2.05 on 25 August 2020. The Spanish market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Chemicals industry, which is up 4.0% over the same period.Valuation Update With 7 Day Price Move • Nov 11Market bids up stock over the past weekAfter last week's 15% share price gain to €2.02, the stock is trading at a trailing P/E ratio of 8.5x, up from the previous P/E ratio of 7.4x. This compares to an average P/E of 20x in the Chemicals industry in Europe. Total return to shareholders over the past three years is a loss of 19%.収支内訳Ercros の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史BME:ECR 収益、費用、利益 ( )EUR Millions日付収益収益G+A経費研究開発費31 Mar 26600-55152031 Dec 25629-54153030 Sep 25645-45151030 Jun 25655-42151031 Mar 25664-27150031 Dec 24668-12149030 Sep 2465714146030 Jun 2465712140031 Mar 2469118142031 Dec 2372629139030 Sep 2381521142030 Jun 2390938146031 Mar 2398066147031 Dec 221,02671145030 Sep 221,03368148030 Jun 2296279136031 Mar 2289352136031 Dec 2179049131030 Sep 217142891030 Jun 2165222146031 Mar 215901489031 Dec 205716124030 Sep 205731888030 Jun 206032590031 Mar 206452888031 Dec 196713189030 Sep 196822694030 Jun 196812786031 Mar 196793991031 Dec 186724583030 Sep 186804788030 Jun 186764985031 Mar 186824593031 Dec 176814592030 Sep 176635295030 Jun 176444998031 Mar 176264691031 Dec 166034591030 Sep 166082981030 Jun 166132187031 Mar 166201581031 Dec 15618787030 Sep 15609-379030 Jun 15612-3800質の高い収益: ECRは現在利益が出ていません。利益率の向上: ECRは現在利益が出ていません。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: ECRは利益が出ておらず、過去 5 年間で損失は年間53.7%の割合で増加しています。成長の加速: ECRの過去 1 年間の収益成長を 5 年間の平均と比較することはできません。現在は利益が出ていないためです。収益対業界: ECRは利益が出ていないため、過去 1 年間の収益成長をChemicals業界 ( 2.8% ) と比較することは困難です。株主資本利益率高いROE: ECRは現在利益が出ていないため、自己資本利益率 ( -20.12% ) はマイナスです。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YMaterials 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/06/14 16:40終値2026/06/12 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Ercros, S.A. 1 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。3 アナリスト機関Bruno BessaCaixa Banco BPIAlfredo Echevarria OteguiLighthouse-IEAF Servicios de AnalisisPablo RiveraLighthouse-IEAF Servicios de Analisis
Reported Earnings • May 19First quarter 2026 earnings releasedFirst quarter 2026 results: €0.15 loss per share. Revenue: €154.3m (down 14% from 1Q 2025). Net loss: €13.6m (loss widened 12% from 1Q 2025). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Chemicals industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance.
お知らせ • Jan 29Ercros, S.A. to Report Fiscal Year 2025 Results on Feb 27, 2026Ercros, S.A. announced that they will report fiscal year 2025 results on Feb 27, 2026
Reported Earnings • Nov 12Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: €161.5m (up 4.3% from 3Q 2024). Net loss: €12.0m (loss widened 30% from 3Q 2024). Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Chemicals industry in Europe.
お知らせ • Oct 12Ercros, S.A. to Report Q3, 2025 Results on Nov 11, 2025Ercros, S.A. announced that they will report Q3, 2025 results on Nov 11, 2025
Reported Earnings • Jul 30Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: €180.0m (up 1.4% from 2Q 2024). Net loss: €17.1m (loss widened €15.5m from 2Q 2024). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Chemicals industry in Europe.
Reported Earnings • May 15First quarter 2025 earnings releasedFirst quarter 2025 results: €0.13 loss per share. Revenue: €184.5m (up 1.0% from 1Q 2024). Net loss: €12.2m (down 499% from profit in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance.
お知らせ • May 28Ercros, S.A., Annual General Meeting, Jun 30, 2026Ercros, S.A., Annual General Meeting, Jun 30, 2026. Location: avenida diagonal 191, barcelona., Spain
Board Change • May 19Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Carme Moragues Josa was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • May 19First quarter 2026 earnings releasedFirst quarter 2026 results: €0.15 loss per share. Revenue: €154.3m (down 14% from 1Q 2025). Net loss: €13.6m (loss widened 12% from 1Q 2025). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Chemicals industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance.
お知らせ • Jan 29Ercros, S.A. to Report Fiscal Year 2025 Results on Feb 27, 2026Ercros, S.A. announced that they will report fiscal year 2025 results on Feb 27, 2026
Reported Earnings • Nov 12Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: €161.5m (up 4.3% from 3Q 2024). Net loss: €12.0m (loss widened 30% from 3Q 2024). Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Chemicals industry in Europe.
Board Change • Nov 11Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 5 highly experienced directors. Proprietary Director Joan Galofre was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
お知らせ • Oct 12Ercros, S.A. to Report Q3, 2025 Results on Nov 11, 2025Ercros, S.A. announced that they will report Q3, 2025 results on Nov 11, 2025
お知らせ • Aug 12Esseco Industrial S.P.A. cancelled the acquisition of Ercros, S.A. (BME:ECR).Esseco Industrial S.P.A. made an offer to acquire Ercros, S.A. (BME:ECR) for approximately €350 million on June 19, 2024. A cash consideration valued at €3.84 per share will be paid by Esseco Industrial S.P.A. Under the terms, the compensation will be in cash and amounts to a maximum total of €351.1 million. Esseco will promote talent retention and maintain Ercros' headquarters in Barcelona. The offer price has been calculated on the basis that if the target company makes any distribution of dividends, the offer price would be reduced by an amount equivalent to the gross amount per share of such distribution. The offer is addressed to the entire share capital of Ercros and is subject to a minimum acceptance condition of 75% as well as to the customary administrative and governmental authorisations for this type of transactions, which will be described in detail in the prospectus that will be made available to shareholders upon completion of its processing by the Comisión Nacional del Mercado de Valores. As of June 28, 2024, the general meeting has approved all the resolution proposals presented by the board of directors of Ercros. The management body of the Bidder approved by unanimity of all its directors on 19 June 2024 launching the Offer, subject to obtaining the necessary financing commitments to ensure the Offeror’s full payment of the cash consideration. As of July 11, 2024, In relation to the takeover bid presented by Bondalti for the capital of Ercros, the Portuguese company states that, as a result of the dividend charged to the 2023 profit of gross €0.096 per share that Ercros paid to its shareholders on July 10, 2024, Bidder has adjusted the Offer price, has deducted this amount from the takeover price and, after rounding the resulting figure, the price becomes €3.745 per share. The National Markets Commission (CNMC) has begun phase two of its analysis of Esseco's takeover bid for Ercros. The company has notified the National Securities Market Commission (CNMV), the stock market supervisor, of this step and has recalled that the CNMC's lack of opposition to the operation is one of the conditions to which the "effectiveness" of the offer is subject. The board of directors and the management team of Ercros will continue to manage the Company's business diligently in the ordinary course of its activity, ensuring the corporate interest and with full respect for the obligations established by the applicable regulations, for which it has the advice from Evercore Partners International LLP, as financial advisor, and from Uría Menéndez Abogados, S.L.P., as legal advisor. Esseco has been advised by J.P. Morgan as financial advisor and Gianni & Origoni as well as Javier Carvajal, Javier Gómez and Teresa Méndez of Pérez-Llorca Abogados, S.L.P. as legal counsels. Esseco Industrial S.P.A. cancelled the acquisition of Ercros, S.A. (BME:ECR) on August 11, 2025.
New Risk • Aug 11New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Spanish stocks, typically moving 5.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (7.5% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.0% average weekly change).
Reported Earnings • Jul 30Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: €180.0m (up 1.4% from 2Q 2024). Net loss: €17.1m (loss widened €15.5m from 2Q 2024). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Chemicals industry in Europe.
Reported Earnings • May 15First quarter 2025 earnings releasedFirst quarter 2025 results: €0.13 loss per share. Revenue: €184.5m (up 1.0% from 1Q 2024). Net loss: €12.2m (down 499% from profit in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance.
お知らせ • May 14Ercros, S.A., Annual General Meeting, Jun 26, 2025Ercros, S.A., Annual General Meeting, Jun 26, 2025. Location: avenida diagonal 514, planta 6., barcelona Spain
お知らせ • Apr 16Ercros, S.A. to Report Q1, 2025 Results on May 13, 2025Ercros, S.A. announced that they will report Q1, 2025 results on May 13, 2025
お知らせ • Mar 05Ercros, S.A. to Report Fiscal Year 2024 Final Results on Mar 31, 2025Ercros, S.A. announced that they will report fiscal year 2024 final results at 5:30 PM, Romance Standard Time on Mar 31, 2025
Reported Earnings • Feb 27Full year 2024 earnings releasedFull year 2024 results: Revenue: €699.0m (down 3.8% from FY 2023). Net loss: €11.7m (down 141% from profit in FY 2023).
Buy Or Sell Opportunity • Feb 12Now 21% overvaluedOver the last 90 days, the stock has fallen 8.2% to €3.25. The fair value is estimated to be €2.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only.
お知らせ • Jan 28Ercros, S.A. to Report Second Half, 2024 Results on Feb 25, 2025Ercros, S.A. announced that they will report second half, 2024 results on Feb 25, 2025
Reported Earnings • Nov 08Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: €173.5m (up 12% from 3Q 2023). Net loss: €9.20m (loss narrowed 15% from 3Q 2023). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Chemicals industry in Europe.
Major Estimate Revision • Aug 06Consensus EPS estimates fall by 14%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €784.4m to €767.9m. EPS estimate also fell from €0.175 per share to €0.15 per share. Net income forecast to grow 45% next year vs 29% growth forecast for Chemicals industry in Spain. Consensus price target of €4.55 unchanged from last update. Share price was steady at €3.82 over the past week.
Reported Earnings • Aug 01Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: €188.4m (down 11% from 2Q 2023). Net loss: €1.66m (down 143% from profit in 2Q 2023). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Chemicals industry in Europe. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.
Upcoming Dividend • Jul 01Upcoming dividend of €0.078 per shareEligible shareholders must have bought the stock before 08 July 2024. Payment date: 10 July 2024. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Spanish dividend payers (5.5%). Lower than average of industry peers (2.8%).
Reported Earnings • May 02First quarter 2024 earnings releasedFirst quarter 2024 results: EPS: €0.033. Revenue: €188.7m (down 14% from 1Q 2023). Net income: €3.05m (down 78% from 1Q 2023). Profit margin: 1.6% (down from 6.4% in 1Q 2023). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Chemicals industry in Europe.
Major Estimate Revision • May 01Consensus EPS estimates fall by 33%, revenue upgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from €771.9m to €784.4m. EPS estimate fell from €0.26 to €0.175 per share. Net income forecast to shrink 37% next year vs 28% growth forecast for Chemicals industry in Spain . Consensus price target up from €4.40 to €4.55. Share price was steady at €3.52 over the past week.
Buy Or Sell Opportunity • Mar 06Now 25% overvalued after recent price riseOver the last 90 days, the stock has risen 40% to €3.42. The fair value is estimated to be €2.73, however this is not to be taken as a sell recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 4.8% per annum. Earnings are also forecast to grow by 7.6% per annum over the same time period.
お知らせ • Mar 05Bondalti Ibérica launched a public takeover offer to acquire Ercros, S.A. (BME:ECR) for €340 million .Bondalti Ibérica launched a public takeover offer to acquire Ercros, S.A. (BME:ECR) for €340 million on March 5, 2024. Offer price is €3.6 per share. The transaction is still conditional on the acceptance of more than 75% of the capital and the obtaining of all relevant regulatory and governmental approvals.
分析記事 • Mar 02Estimating The Intrinsic Value Of Ercros, S.A. (BME:ECR)Key Insights The projected fair value for Ercros is €2.74 based on 2 Stage Free Cash Flow to Equity Ercros' €2.57 share...
Reported Earnings • Mar 01Full year 2023 earnings: Revenues miss analyst expectationsFull year 2023 results: Revenue: €757.6m (down 26% from FY 2022). Net income: €28.8m (down 59% from FY 2022). Profit margin: 3.8% (down from 6.9% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.2%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Europe.
New Risk • Feb 27New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Spanish stocks, typically moving 4.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (4.3% average weekly change). Profit margins are more than 30% lower than last year (2.6% net profit margin).
分析記事 • Dec 20At €2.75, Is It Time To Put Ercros, S.A. (BME:ECR) On Your Watch List?While Ercros, S.A. ( BME:ECR ) might not be the most widely known stock at the moment, it saw a double-digit share...
お知らせ • Dec 01+ 2 more updatesErcros, S.A. to Report Q3, 2024 Results on Nov 15, 2024Ercros, S.A. announced that they will report Q3, 2024 results on Nov 15, 2024
Major Estimate Revision • Nov 12Consensus EPS estimates fall by 32%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €804.7m to €774.5m. EPS estimate also fell from €0.365 per share to €0.25 per share. Net income forecast to shrink 43% next year vs 6.4% growth forecast for Chemicals industry in Spain . Consensus price target of €4.40 unchanged from last update. Share price fell 14% to €2.52 over the past week.
分析記事 • Nov 10Here's Why Ercros (BME:ECR) Has A Meaningful Debt BurdenDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
New Risk • Nov 08New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.8% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.2% net profit margin).
お知らせ • Oct 18Ercros, S.A. to Report Q3, 2023 Results on Nov 08, 2023Ercros, S.A. announced that they will report Q3, 2023 results on Nov 08, 2023
New Risk • Jul 28New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.2% Last year net profit margin: 8.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.2% net profit margin).
Reported Earnings • Jul 27Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: €222.4m (down 22% from 2Q 2022). Net income: €3.81m (down 87% from 2Q 2022). Profit margin: 1.7% (down from 10% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 1.4% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Europe are expected to grow by 2.5%. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth.
Board Change • Jul 02Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Proprietary Director Joan Galofre was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
New Risk • Jun 29New major risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Spanish stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.8% average weekly change).
お知らせ • Jun 23+ 1 more updateErcros, S.A. to Report First Half, 2023 Results on Aug 31, 2023Ercros, S.A. announced that they will report first half, 2023 results on Aug 31, 2023
Upcoming Dividend • Jun 19Upcoming dividend of €0.12 per share at 4.8% yieldEligible shareholders must have bought the stock before 26 June 2023. Payment date: 28 June 2023. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Spanish dividend payers (5.8%). Higher than average of industry peers (4.0%).
お知らせ • May 04Ercros, S.A., Annual General Meeting, Jun 15, 2023Ercros, S.A., Annual General Meeting, Jun 15, 2023, at 12:00 Central European Standard Time. Location: Uría Menéndez Auditorium, Avenida Diagonal 514, 6th floor Barcelona Spain Agenda: To consider financial statements and directors' report; to consider statement of non-financial information of the Company and its consolidated Group for the year ended 31 December 2022; to consider Re-election of Ernst & Young, S.L. as the auditor.
Buying Opportunity • May 03Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 3.4%. The fair value is estimated to be €4.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 48%. For the next 3 years, revenue is forecast to decline by 5.4% per annum. Earnings is also forecast to decline by 12% per annum over the same time period.
分析記事 • Apr 26Here's Why Ercros (BME:ECR) Can Manage Its Debt ResponsiblySome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Reported Earnings • Feb 24Full year 2022 earnings released: EPS: €0.64 (vs €0.43 in FY 2021)Full year 2022 results: EPS: €0.64 (up from €0.43 in FY 2021). Revenue: €1.02b (up 28% from FY 2021). Net income: €70.6m (up 63% from FY 2021). Profit margin: 6.9% (up from 5.4% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 8.9% p.a. on average during the next 2 years, while revenues in the Chemicals industry in Europe are expected to grow by 2.4%. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth.
お知らせ • Jan 30Ercros, S.A. to Report Fiscal Year 2022 Results on Feb 28, 2023Ercros, S.A. announced that they will report fiscal year 2022 results on Feb 28, 2023
Buying Opportunity • Nov 10Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 3.7%. The fair value is estimated to be €4.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 36%. Revenue is forecast to decline by 13% in 2 years. Earnings is forecast to decline by 40% in the next 2 years.
Reported Earnings • Jul 30Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: €297.7m (up 50% from 2Q 2021). Net income: €29.1m (up 152% from 2Q 2021). Profit margin: 9.8% (up from 5.8% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 3.5% compared to a 16% growth forecast for the industry in Spain.
Upcoming Dividend • Jun 13Upcoming dividend of €0.069 per shareEligible shareholders must have bought the stock before 20 June 2022. Payment date: 22 June 2022. Trailing yield: 2.5%. Lower than top quartile of Spanish dividend payers (5.7%). Lower than average of industry peers (3.6%).
Buying Opportunity • May 12Now 23% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be €4.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 6.1%. Revenue is forecast to decline by 7.7% in 2 years. Earnings is forecast to decline by 13% in the next 2 years.
分析記事 • Mar 07Ercros (BME:ECR) Will Be Hoping To Turn Its Returns On Capital AroundIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
Buying Opportunity • Mar 03Now 23% undervaluedOver the last 90 days, the stock is up 9.0%. The fair value is estimated to be €4.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 6.1% per annum over the last 3 years.
分析記事 • Jan 25Why Ercros, S.A. (BME:ECR) Could Be Worth WatchingErcros, S.A. ( BME:ECR ), might not be a large cap stock, but it saw significant share price movement during recent...
Reported Earnings • Nov 14Third quarter 2021 earnings releasedThe company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €210.9m (up 56% from 3Q 2020). Net income: €5.90m (up €5.70m from 3Q 2020). Profit margin: 2.8% (up from 0.1% in 3Q 2020). The increase in margin was driven by higher revenue.
分析記事 • Sep 07Should You Investigate Ercros, S.A. (BME:ECR) At €3.71?Ercros, S.A. ( BME:ECR ), is not the largest company out there, but it saw a significant share price rise of over 20...
分析記事 • Jun 09A Look At The Fair Value Of Ercros, S.A. (BME:ECR)Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Ercros, S.A. ( BME:ECR...
分析記事 • May 23Here's Why Ercros (BME:ECR) Has A Meaningful Debt BurdenSome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Valuation Update With 7 Day Price Move • May 11Investor sentiment improved over the past weekAfter last week's 19% share price gain to €3.14, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 21x in the Chemicals industry in Europe. Total loss to shareholders of 28% over the past three years.
分析記事 • May 05Should Ercros, S.A. (BME:ECR) Be Part Of Your Dividend Portfolio?Today we'll take a closer look at Ercros, S.A. ( BME:ECR ) from a dividend investor's perspective. Owning a strong...
分析記事 • Mar 12Should You Think About Buying Ercros, S.A. (BME:ECR) Now?Ercros, S.A. ( BME:ECR ), might not be a large cap stock, but it saw a decent share price growth in the teens level on...
Reported Earnings • Mar 01Full year 2020 earnings released: EPS €0.061 (vs €0.29 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €585.3m (down 13% from FY 2019). Net income: €6.26m (down 80% from FY 2019). Profit margin: 1.1% (down from 4.6% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.
Analyst Estimate Surprise Post Earnings • Mar 01Revenue beats expectations, earnings disappointRevenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates by 39%. Over the next year, revenue is forecast to grow 5.8%, compared to a 4.6% growth forecast for the Chemicals industry in Spain.
分析記事 • Feb 22Is Ercros (BME:ECR) A Future Multi-bagger?Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Is New 90 Day High Low • Feb 16New 90-day high: €2.48The company is up 18% from its price of €2.11 on 18 November 2020. The Spanish market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 8.0% over the same period.
分析記事 • Feb 05Here's Why Ercros (BME:ECR) Has A Meaningful Debt BurdenSome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
分析記事 • Jan 20Read This Before Buying Ercros, S.A. (BME:ECR) For Its DividendIs Ercros, S.A. ( BME:ECR ) a good dividend stock? How can we tell? Dividend paying companies with growing earnings can...
Is New 90 Day High Low • Jan 06New 90-day high: €2.44The company is up 27% from its price of €1.92 on 08 October 2020. The Spanish market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 5.0% over the same period.
分析記事 • Jan 05Is Ercros, S.A.'s (BME:ECR) Recent Stock Performance Influenced By Its Fundamentals In Any Way?Ercros (BME:ECR) has had a great run on the share market with its stock up by a significant 20% over the last three...
分析記事 • Dec 18Calculating The Intrinsic Value Of Ercros, S.A. (BME:ECR)In this article we are going to estimate the intrinsic value of Ercros, S.A. ( BME:ECR ) by projecting its future cash...
分析記事 • Nov 29Shareholders Of Ercros (BME:ECR) Must Be Happy With Their 257% Total ReturnWhen you buy a stock there is always a possibility that it could drop 100%. But when you pick a company that is really...
Valuation Update With 7 Day Price Move • Nov 26Market bids up stock over the past weekAfter last week's 18% share price gain to €2.41, the stock is trading at a trailing P/E ratio of 10.1x, up from the previous P/E ratio of 8.6x. This compares to an average P/E of 21x in the Chemicals industry in Europe. Total returns to shareholders over the past three years were flat.
Is New 90 Day High Low • Nov 24New 90-day high: €2.18The company is up 6.0% from its price of €2.05 on 25 August 2020. The Spanish market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Chemicals industry, which is up 4.0% over the same period.
Valuation Update With 7 Day Price Move • Nov 11Market bids up stock over the past weekAfter last week's 15% share price gain to €2.02, the stock is trading at a trailing P/E ratio of 8.5x, up from the previous P/E ratio of 7.4x. This compares to an average P/E of 20x in the Chemicals industry in Europe. Total return to shareholders over the past three years is a loss of 19%.