View ValuationMotor Oil (Hellas) Corinth Refineries 향후 성장Future 기준 점검 0/6Motor Oil (Hellas) Corinth Refineries 의 수익과 수익은 각각 연간 2.3% 및 25.2% 감소할 것으로 예상됩니다. EPS는 연간 21.3% 만큼 쇠퇴할 것으로 예상됩니다. 자기자본이익률은 3년 후 12.8% 로 예상됩니다.핵심 정보-25.2%이익 성장률-21.26%EPS 성장률Oil and Gas 이익 성장6.7%매출 성장률-2.3%향후 자기자본이익률12.79%애널리스트 커버리지Good마지막 업데이트22 Jun 2026최근 향후 성장 업데이트Major Estimate Revision • Apr 07Consensus revenue estimates increase by 23%The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from €11.7b to €14.5b. EPS estimate unchanged from €4.89 at last update. Oil and Gas industry in Greece expected to see average net income growth of 35% next year. Consensus price target broadly unchanged at €36.15. Share price rose 2.1% to €38.90 over the past week.Major Estimate Revision • Mar 31Consensus revenue estimates increase by 23%The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from €11.7b to €14.5b. EPS estimate unchanged from €4.89 at last update. Oil and Gas industry in Greece expected to see average net income growth of 34% next year. Consensus price target broadly unchanged at €36.15. Share price was steady at €38.10 over the past week.Price Target Changed • Jan 28Price target increased by 8.6% to €33.59Up from €30.91, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of €33.82. Stock is up 58% over the past year. The company is forecast to post earnings per share of €6.25 for next year compared to €2.62 last year.Price Target Changed • Jan 20Price target increased by 7.6% to €32.98Up from €30.66, the current price target is an average from 8 analysts. New target price is 10% above last closing price of €29.90. Stock is up 39% over the past year. The company is forecast to post earnings per share of €6.25 for next year compared to €2.62 last year.분석 기사 • Aug 31Analysts Are Upgrading Motor Oil (Hellas) Corinth Refineries S.A. (ATH:MOH) After Its Latest ResultsShareholders might have noticed that Motor Oil (Hellas) Corinth Refineries S.A. ( ATH:MOH ) filed its second-quarter...Major Estimate Revision • May 29Consensus revenue estimates decrease by 11%The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from €10.9b to €9.74b. EPS estimate unchanged from €2.75 per share at last update. Oil and Gas industry in Greece expected to see average net income growth of 3.0% next year. Consensus price target of €25.06 unchanged from last update. Share price was steady at €23.48 over the past week.모든 업데이트 보기Recent updatesDeclared Dividend • Jun 19Dividend of €1.43 announcedShareholders will receive a dividend of €1.43. Ex-date: 26th June 2026 Payment date: 3rd July 2026 Dividend yield will be 4.7%, which is lower than the industry average of 6.4%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 51% over the next 3 years. However, it would need to fall by 76% to increase the payout ratio to a potentially unsustainable range.분석 기사 • Jun 04There May Be Underlying Issues With The Quality Of Motor Oil (Hellas) Corinth Refineries' (ATH:MOH) EarningsDespite posting some strong earnings, the market for Motor Oil (Hellas) Corinth Refineries S.A.'s ( ATH:MOH ) stock...Reported Earnings • May 28First quarter 2026 earnings released: EPS: €3.07 (vs €0.78 in 1Q 2025)First quarter 2026 results: EPS: €3.07 (up from €0.78 in 1Q 2025). Revenue: €3.36b (up 25% from 1Q 2025). Net income: €332.2m (up 293% from 1Q 2025). Profit margin: 9.9% (up from 3.2% in 1Q 2025). Revenue is expected to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Europe are expected to grow by 1.5%. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings.공시 • May 16Motor Oil (Hellas) Corinth Refineries S.A. to Report Q1, 2026 Results on May 27, 2026Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report Q1, 2026 results After-Market on May 27, 2026Major Estimate Revision • Apr 07Consensus revenue estimates increase by 23%The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from €11.7b to €14.5b. EPS estimate unchanged from €4.89 at last update. Oil and Gas industry in Greece expected to see average net income growth of 35% next year. Consensus price target broadly unchanged at €36.15. Share price rose 2.1% to €38.90 over the past week.Major Estimate Revision • Mar 31Consensus revenue estimates increase by 23%The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from €11.7b to €14.5b. EPS estimate unchanged from €4.89 at last update. Oil and Gas industry in Greece expected to see average net income growth of 34% next year. Consensus price target broadly unchanged at €36.15. Share price was steady at €38.10 over the past week.New Risk • Mar 27New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 60% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 15% 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. Large one-off items impacting financial results.Reported Earnings • Mar 26Full year 2025 earnings: EPS misses analyst expectationsFull year 2025 results: EPS: €5.98 (up from €2.62 in FY 2024). Revenue: €11.5b (down 5.8% from FY 2024). Net income: €647.5m (up 129% from FY 2024). Profit margin: 5.6% (up from 2.3% in FY 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.5%. Revenue is forecast to stay flat during the next 3 years compared to a 1.8% growth forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings.공시 • Mar 06+ 1 more updateMotor Oil (Hellas) Corinth Refineries S.A. to Report First Half, 2026 Results on Aug 26, 2026Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report first half, 2026 results on Aug 26, 2026분석 기사 • Feb 05Motor Oil (Hellas) Corinth Refineries (ATH:MOH) Is Looking To Continue Growing Its Returns On CapitalIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...Price Target Changed • Jan 28Price target increased by 8.6% to €33.59Up from €30.91, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of €33.82. Stock is up 58% over the past year. The company is forecast to post earnings per share of €6.25 for next year compared to €2.62 last year.분석 기사 • Jan 21We Think Motor Oil (Hellas) Corinth Refineries (ATH:MOH) Is Taking Some Risk With Its DebtWarren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...Price Target Changed • Jan 20Price target increased by 7.6% to €32.98Up from €30.66, the current price target is an average from 8 analysts. New target price is 10% above last closing price of €29.90. Stock is up 39% over the past year. The company is forecast to post earnings per share of €6.25 for next year compared to €2.62 last year.분석 기사 • Jan 05There Is A Reason Motor Oil (Hellas) Corinth Refineries S.A.'s (ATH:MOH) Price Is UndemandingMotor Oil (Hellas) Corinth Refineries S.A.'s ( ATH:MOH ) price-to-earnings (or "P/E") ratio of 6.6x might make it look...Buy Or Sell Opportunity • Dec 16Now 20% undervaluedOver the last 90 days, the stock has risen 17% to €30.18. The fair value is estimated to be €37.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 43%. For the next 3 years, revenue is forecast to decline by 0.9% per annum. Earnings are also forecast to decline by 3.2% per annum over the same time period.분석 기사 • Dec 02We Think You Should Be Aware Of Some Concerning Factors In Motor Oil (Hellas) Corinth Refineries' (ATH:MOH) EarningsThe recent earnings posted by Motor Oil (Hellas) Corinth Refineries S.A. ( ATH:MOH ) were solid, but the stock didn't...New Risk • Nov 26New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 3.2% 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 3.2% per year for the foreseeable future. Minor Risks High level of debt (51% net debt to equity). Dividend is not well covered by cash flows (120% cash payout ratio). Large one-off items impacting financial results.Declared Dividend • Nov 05First half dividend of €0.35 announcedShareholders will receive a dividend of €0.35. Ex-date: 23rd December 2025 Payment date: 5th January 2026 Dividend yield will be 5.6%, which is lower than the industry average of 6.4%. Sustainability & Growth Dividend is not covered by earnings (139% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 54% to bring the payout ratio under control. EPS is expected to grow by 90% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.공시 • Nov 04Motor Oil (Hellas) Corinth Refineries S.A. to Report Nine Months, 2025 Results on Nov 19, 2025Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report nine months, 2025 results on Nov 19, 2025분석 기사 • Oct 17An Intrinsic Calculation For Motor Oil (Hellas) Corinth Refineries S.A. (ATH:MOH) Suggests It's 20% UndervaluedKey Insights Using the 2 Stage Free Cash Flow to Equity, Motor Oil (Hellas) Corinth Refineries fair value estimate is...Buy Or Sell Opportunity • Oct 16Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 5.3% to €24.50. The fair value is estimated to be €30.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 42%. For the next 3 years, revenue is forecast to decline by 0.8% per annum. Earnings are forecast to grow by 9.5% per annum over the same time period.분석 기사 • Oct 02We Think Motor Oil (Hellas) Corinth Refineries (ATH:MOH) Is Taking Some Risk With Its DebtDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...분석 기사 • Sep 15Motor Oil (Hellas) Corinth Refineries S.A.'s (ATH:MOH) Shares Lagging The Industry But So Is The BusinessYou may think that with a price-to-sales (or "P/S") ratio of 0.2x Motor Oil (Hellas) Corinth Refineries S.A. ( ATH:MOH...분석 기사 • Aug 31Analysts Are Upgrading Motor Oil (Hellas) Corinth Refineries S.A. (ATH:MOH) After Its Latest ResultsShareholders might have noticed that Motor Oil (Hellas) Corinth Refineries S.A. ( ATH:MOH ) filed its second-quarter...Reported Earnings • Aug 31Second quarter 2025 earnings released: EPS: €0.72 (vs €1.56 in 2Q 2024)Second quarter 2025 results: EPS: €0.72 (down from €1.56 in 2Q 2024). Revenue: €2.59b (down 21% from 2Q 2024). Net income: €77.5m (down 54% from 2Q 2024). Profit margin: 3.0% (down from 5.2% in 2Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 11% growth forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.New Risk • Aug 29New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 16% 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 Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings are forecast to decline by an average of 16% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (283% cash payout ratio). Profit margins are more than 30% lower than last year (1.5% net profit margin).분석 기사 • Aug 14Motor Oil (Hellas) Corinth Refineries' (ATH:MOH) Returns On Capital Are Heading HigherATSE:MOH 1 Year Share Price vs Fair Value Explore Motor Oil (Hellas) Corinth Refineries's Fair Values from the...Declared Dividend • Jun 20Dividend of €1.10 announcedShareholders will receive a dividend of €1.10. Ex-date: 25th June 2025 Payment date: 2nd July 2025 Dividend yield will be 5.8%, which is lower than the industry average of 6.4%. Sustainability & Growth Dividend is covered by earnings (86% earnings payout ratio) but not covered by cash flows (283% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next year, which should provide support to the dividend and adequate earnings cover.Reported Earnings • May 29First quarter 2025 earnings released: EPS: €0.78 (vs €1.76 in 1Q 2024)First quarter 2025 results: EPS: €0.78 (down from €1.76 in 1Q 2024). Revenue: €2.68b (down 10% from 1Q 2024). Net income: €84.6m (down 56% from 1Q 2024). Profit margin: 3.2% (down from 6.4% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to decline by 1.7% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.Major Estimate Revision • May 29Consensus revenue estimates decrease by 11%The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from €10.9b to €9.74b. EPS estimate unchanged from €2.75 per share at last update. Oil and Gas industry in Greece expected to see average net income growth of 3.0% next year. Consensus price target of €25.06 unchanged from last update. Share price was steady at €23.48 over the past week.공시 • May 16Motor Oil (Hellas) Corinth Refineries S.A. to Report Q1, 2025 Results on May 26, 2025Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report Q1, 2025 results After-Market on May 26, 2025Reported Earnings • Apr 04Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2024 results: EPS: €2.62 (down from €7.43 in FY 2023). Revenue: €12.2b (down 8.5% from FY 2023). Net income: €283.4m (down 65% from FY 2023). Profit margin: 2.3% (down from 6.1% in FY 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to decline by 1.8% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings.공시 • Mar 20+ 1 more updateMotor Oil (Hellas) Corinth Refineries S.A. to Report First Half, 2025 Results on Aug 27, 2025Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report first half, 2025 results on Aug 27, 2025공시 • Mar 15Motor Oil (Hellas) Corinth Refineries S.A., Annual General Meeting, Jun 18, 2025Motor Oil (Hellas) Corinth Refineries S.A., Annual General Meeting, Jun 18, 2025.Upcoming Dividend • Dec 16Upcoming dividend of €0.30 per shareEligible shareholders must have bought the stock before 23 December 2024. Payment date: 03 January 2025. Payout ratio is a comfortable 60% but the company is not cash flow positive. Trailing yield: 8.3%. Within top quartile of Greek dividend payers (5.9%). Higher than average of industry peers (7.3%).Major Estimate Revision • Dec 03Consensus EPS estimates fall by 20%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €12.3b to €12.1b. EPS estimate also fell from €3.88 per share to €3.12 per share. Net income forecast to grow 9.2% next year vs 16% growth forecast for Oil and Gas industry in Greece. Consensus price target broadly unchanged at €26.94. Share price rose 3.2% to €19.99 over the past week.New Risk • Nov 21New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings are forecast to decline by an average of 11% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (2.4% net profit margin).Reported Earnings • Nov 21Third quarter 2024 earnings released: €1.29 loss per share (vs €4.06 profit in 3Q 2023)Third quarter 2024 results: €1.29 loss per share (down from €4.06 profit in 3Q 2023). Revenue: €3.13b (down 23% from 3Q 2023). Net loss: €138.7m (down 132% from profit in 3Q 2023). Revenue is expected to fall by 3.2% p.a. on average during the next 3 years compared to a 1.1% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.공시 • Nov 07Motor Oil (Hellas) Corinth Refineries S.A. to Report Nine Months, 2024 Results on Nov 20, 2024Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report nine months, 2024 results on Nov 20, 2024Declared Dividend • Nov 01First half dividend of €0.30 announcedShareholders will receive a dividend of €0.30. Ex-date: 23rd December 2024 Payment date: 3rd January 2025 Dividend yield will be 8.8%, which is higher than the industry average of 6.4%. Sustainability & Growth Dividend is covered by both earnings (17% earnings payout ratio) and cash flows (64% cash payout ratio). The dividend has increased by an average of 25% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 81% over the next 3 years. A fall of 81% would increase the payout ratio to a potentially unsustainable range, which means the dividend may be at risk.Major Estimate Revision • Oct 16Consensus EPS estimates fall by 20%, revenue upgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from €12.5b to €12.7b. EPS estimate fell from €4.83 to €3.88 per share. Net income forecast to shrink 59% next year vs 19% growth forecast for Oil and Gas industry in Greece . Consensus price target down from €28.81 to €27.83. Share price was steady at €20.56 over the past week.Reported Earnings • Aug 29Second quarter 2024 earnings released: EPS: €1.56 (vs €0.36 in 2Q 2023)Second quarter 2024 results: EPS: €1.56 (up from €0.36 in 2Q 2023). Revenue: €3.26b (up 24% from 2Q 2023). Net income: €168.3m (up 332% from 2Q 2023). Profit margin: 5.2% (up from 1.5% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is expected to fall by 4.5% p.a. on average during the next 3 years compared to a 1.0% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth.Major Estimate Revision • Aug 25Consensus EPS estimates fall by 44%, revenue upgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from €12.0b to €12.2b. EPS estimate fell from €5.23 to €2.92 per share. Net income forecast to shrink 55% next year vs 14% growth forecast for Oil and Gas industry in Greece . Consensus price target broadly unchanged at €28.81. Share price was steady at €21.14 over the past week.공시 • Aug 14Motor Oil (Hellas) Corinth Refineries S.A. to Report First Half, 2024 Results on Aug 28, 2024Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report first half, 2024 results on Aug 28, 2024New Risk • Aug 05New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Greek stocks, typically moving 4.7% 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 Risks Debt is not well covered by operating cash flow (8.9% operating cash flow to total debt). Earnings are forecast to decline by an average of 30% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (4.7% average weekly change).Declared Dividend • Jun 21Dividend of €1.43 announcedShareholders will receive a dividend of €1.43. Ex-date: 26th June 2024 Payment date: 3rd July 2024 Dividend yield will be 7.4%, which is higher than the industry average of 6.4%. Sustainability & Growth Dividend is covered by earnings (26% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 25% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 58% over the next 3 years. However, it would need to fall by 71% to increase the payout ratio to a potentially unsustainable range.Reported Earnings • May 29First quarter 2024 earnings released: EPS: €1.76 (vs €2.19 in 1Q 2023)First quarter 2024 results: EPS: €1.76 (down from €2.19 in 1Q 2023). Revenue: €2.98b (down 9.9% from 1Q 2023). Net income: €190.7m (down 20% from 1Q 2023). Profit margin: 6.4% (down from 7.2% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is expected to fall by 2.3% p.a. on average during the next 3 years compared to a 1.4% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.공시 • May 16Motor Oil (Hellas) Corinth Refineries S.A. to Report Q1, 2024 Results on May 28, 2024Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report Q1, 2024 results on May 28, 2024Reported Earnings • Apr 05Full year 2023 earnings: EPS and revenues miss analyst expectationsFull year 2023 results: EPS: €7.43 (down from €8.82 in FY 2022). Revenue: €13.3b (down 20% from FY 2022). Net income: €805.7m (down 17% from FY 2022). Profit margin: 6.1% (up from 5.8% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is expected to fall by 2.8% p.a. on average during the next 3 years compared to a 1.8% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth.공시 • Apr 01Motor Oil (Hellas) Corinth Refineries S.A. to Report Fiscal Year 2023 Results on Apr 03, 2024Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report fiscal year 2023 results on Apr 03, 2024공시 • Jan 01Motor Oil (Hellas) Corinth Refineries S.A., Annual General Meeting, Jan 24, 2024Motor Oil (Hellas) Corinth Refineries S.A., Annual General Meeting, Jan 24, 2024, at 10:00 E. Europe Standard Time. Location: NJV Athens Plaza Hotel 2 Vassileos Georgiou A Street, Zip Code 105 64, Syntagma Square Athens GreeceMajor Estimate Revision • Dec 21Consensus EPS estimates increase by 12%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €7.09 to €7.96. Revenue forecast steady at €13.9b. Net income forecast to shrink 12% next year vs 15% growth forecast for Oil and Gas industry in Greece . Consensus price target up from €26.64 to €27.84. Share price fell 3.0% to €24.26 over the past week.Price Target Changed • Dec 20Price target increased by 7.8% to €27.84Up from €25.83, the current price target is an average from 7 analysts. New target price is 15% above last closing price of €24.28. Stock is up 12% over the past year. The company is forecast to post earnings per share of €7.96 for next year compared to €8.82 last year.Upcoming Dividend • Dec 11Upcoming dividend of €0.40 per share at 6.5% yieldEligible shareholders must have bought the stock before 18 December 2023. Payment date: 22 December 2023. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 6.5%. Within top quartile of Greek dividend payers (4.6%). Lower than average of industry peers (9.0%).Major Estimate Revision • Nov 28Consensus revenue estimates increase by 12%The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from €12.3b to €13.7b. EPS estimate unchanged from €5.86 at last update. Oil and Gas industry in Greece expected to see average net income growth of 15% next year. Consensus price target of €26.41 unchanged from last update. Share price rose 11% to €24.76 over the past week.Reported Earnings • Nov 23Third quarter 2023 earnings released: EPS: €4.06 (vs €2.92 in 3Q 2022)Third quarter 2023 results: EPS: €4.06 (up from €2.92 in 3Q 2022). Revenue: €4.04b (down 15% from 3Q 2022). Net income: €440.9m (up 37% from 3Q 2022). Profit margin: 11% (up from 6.7% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is expected to fall by 6.2% p.a. on average during the next 3 years compared to a 3.3% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth.공시 • Nov 08Motor Oil (Hellas) Corinth Refineries S.A. to Report Nine Months, 2023 Results on Nov 21, 2023Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report nine months, 2023 results on Nov 21, 2023New Risk • Aug 30New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.8% Last year net profit margin: 5.5% 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: Major Risk Earnings are forecast to decline by an average of 24% per year for the foreseeable future. Minor Risks High level of debt (59% net debt to equity). 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 (3.8% net profit margin).공시 • Aug 19Motor Oil (Hellas) Corinth Refineries S.A. to Report First Half, 2023 Results on Aug 29, 2023Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report first half, 2023 results on Aug 29, 2023Upcoming Dividend • Jun 19Upcoming dividend of €1.20 per share at 6.5% yieldEligible shareholders must have bought the stock before 26 June 2023. Payment date: 03 July 2023. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 6.5%. Within top quartile of Greek dividend payers (4.8%). Lower than average of industry peers (9.0%).Major Estimate Revision • Jun 06Consensus revenue estimates decrease by 13%The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from €15.2b to €13.3b. EPS estimate unchanged from €3.76 per share at last update. Oil and Gas industry in Greece expected to see average net income decline 8.8% next year. Consensus price target down from €26.67 to €25.71. Share price fell 2.0% to €23.10 over the past week.공시 • Jun 01Motor Oil (Hellas) Corinth Refineries S.A., Annual General Meeting, Jun 07, 2023Motor Oil (Hellas) Corinth Refineries S.A., Annual General Meeting, Jun 07, 2023, at 07:00 Coordinated Universal Time. Location: NJV Athens Plaza Hotel, 2 Vassileos Georgiou A Street, Zip Code 105 64, Syntagma Square, Athens Athens GreeceReported Earnings • May 31First quarter 2023 earnings released: EPS: €2.19 (vs €1.79 in 1Q 2022)First quarter 2023 results: EPS: €2.19 (up from €1.79 in 1Q 2022). Revenue: €3.31b (up 1.5% from 1Q 2022). Net income: €237.4m (up 20% from 1Q 2022). Profit margin: 7.2% (up from 6.1% in 1Q 2022). Revenue is expected to fall by 4.3% p.a. on average during the next 3 years compared to a 5.0% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.Price Target Changed • Feb 02Price target increased by 7.2% to €26.37Up from €24.60, the current price target is an average from 6 analysts. New target price is 18% above last closing price of €22.40. Stock is up 56% over the past year. The company is forecast to post earnings per share of €8.41 for next year compared to €1.83 last year.Buying Opportunity • Jan 25Now 20% undervaluedOver the last 90 days, the stock is up 29%. The fair value is estimated to be €27.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 87%. Revenue is forecast to grow by 0.3% in 2 years. Earnings is forecast to decline by 54% in the next 2 years.이익 및 매출 성장 예측ATSE:MOH - 애널리스트 향후 추정치 및 과거 재무 데이터 (EUR Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/202812,199399317680612/31/202712,350500302706712/31/202613,76173730079943/31/202612,1628958651,439N/A12/31/202511,482648220800N/A9/30/202511,295514127659N/A6/30/202511,21686-244151N/A3/31/202511,88817754398N/A12/31/202412,18828319334N/A9/30/202412,717309-375-76N/A6/30/202413,627888304602N/A3/31/202412,988759-59236N/A12/31/202313,317806496814N/A9/30/202313,9336781,4071,715N/A6/30/202314,6595599701,270N/A3/31/202316,6801,0081,4061,692N/A12/31/202216,6319688721,129N/A9/30/202215,7891,004271522N/A6/30/202214,010767262535N/A3/31/202211,638334-26043N/A12/31/202110,267202-49273N/A9/30/20218,792196-58274N/A6/30/20217,443159-104202N/A3/31/20216,3584922316N/A12/31/20206,120-112-413-132N/A9/30/20206,794-82-321-76N/A6/30/20207,633-71-20722N/A3/31/20208,81725-13941N/A12/31/20199,373228N/A480N/A9/30/20199,633204N/A367N/A6/30/20199,672257N/A292N/A3/31/20199,679323N/A341N/A12/31/20189,520257N/A326N/A9/30/20189,043347N/A257N/A6/30/20188,520337N/A330N/A3/31/20188,048266N/A246N/A12/31/20177,843315N/A301N/A9/30/20177,619333N/A377N/A6/30/20177,444307N/A445N/A3/31/20176,911340N/A313N/A12/31/20166,357298N/A466N/A9/30/20166,161223N/A428N/A6/30/20166,059181N/A371N/A3/31/20166,723212N/A473N/A12/31/20157,060205N/A281N/A9/30/20157,45291N/A280N/A6/30/20158,17974N/A185N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: MOH 의 수익은 향후 3년간 감소할 것으로 예상됩니다(연간 -25.2%).수익 vs 시장: MOH 의 수익은 향후 3년간 감소할 것으로 예상됩니다(연간 -25.2%).고성장 수익: MOH 의 수익은 향후 3년간 감소할 것으로 예상됩니다.수익 대 시장: MOH 의 수익은 향후 3년간 감소할 것으로 예상됩니다(연간 -2.3%).고성장 매출: MOH 의 수익은 향후 3년 동안 감소할 것으로 예상됩니다(연간 -2.3%).주당순이익 성장 예측향후 자기자본이익률미래 ROE: MOH의 자본 수익률은 3년 후 12.8%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YEnergy 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/06/25 12:11종가2026/06/25 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 세부 정보는 당사의 Github 페이지에서 확인하실 수 있으며, 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Motor Oil (Hellas) Corinth Refineries S.A.는 22명의 분석가가 다루고 있습니다. 이 중 7명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Constantinos ZouzoulasAxia Ventures Group LtdLydia RainforthBarclaysYuriy KukhtanychBerenberg19명의 분석가 더 보기
Major Estimate Revision • Apr 07Consensus revenue estimates increase by 23%The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from €11.7b to €14.5b. EPS estimate unchanged from €4.89 at last update. Oil and Gas industry in Greece expected to see average net income growth of 35% next year. Consensus price target broadly unchanged at €36.15. Share price rose 2.1% to €38.90 over the past week.
Major Estimate Revision • Mar 31Consensus revenue estimates increase by 23%The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from €11.7b to €14.5b. EPS estimate unchanged from €4.89 at last update. Oil and Gas industry in Greece expected to see average net income growth of 34% next year. Consensus price target broadly unchanged at €36.15. Share price was steady at €38.10 over the past week.
Price Target Changed • Jan 28Price target increased by 8.6% to €33.59Up from €30.91, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of €33.82. Stock is up 58% over the past year. The company is forecast to post earnings per share of €6.25 for next year compared to €2.62 last year.
Price Target Changed • Jan 20Price target increased by 7.6% to €32.98Up from €30.66, the current price target is an average from 8 analysts. New target price is 10% above last closing price of €29.90. Stock is up 39% over the past year. The company is forecast to post earnings per share of €6.25 for next year compared to €2.62 last year.
분석 기사 • Aug 31Analysts Are Upgrading Motor Oil (Hellas) Corinth Refineries S.A. (ATH:MOH) After Its Latest ResultsShareholders might have noticed that Motor Oil (Hellas) Corinth Refineries S.A. ( ATH:MOH ) filed its second-quarter...
Major Estimate Revision • May 29Consensus revenue estimates decrease by 11%The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from €10.9b to €9.74b. EPS estimate unchanged from €2.75 per share at last update. Oil and Gas industry in Greece expected to see average net income growth of 3.0% next year. Consensus price target of €25.06 unchanged from last update. Share price was steady at €23.48 over the past week.
Declared Dividend • Jun 19Dividend of €1.43 announcedShareholders will receive a dividend of €1.43. Ex-date: 26th June 2026 Payment date: 3rd July 2026 Dividend yield will be 4.7%, which is lower than the industry average of 6.4%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 51% over the next 3 years. However, it would need to fall by 76% to increase the payout ratio to a potentially unsustainable range.
분석 기사 • Jun 04There May Be Underlying Issues With The Quality Of Motor Oil (Hellas) Corinth Refineries' (ATH:MOH) EarningsDespite posting some strong earnings, the market for Motor Oil (Hellas) Corinth Refineries S.A.'s ( ATH:MOH ) stock...
Reported Earnings • May 28First quarter 2026 earnings released: EPS: €3.07 (vs €0.78 in 1Q 2025)First quarter 2026 results: EPS: €3.07 (up from €0.78 in 1Q 2025). Revenue: €3.36b (up 25% from 1Q 2025). Net income: €332.2m (up 293% from 1Q 2025). Profit margin: 9.9% (up from 3.2% in 1Q 2025). Revenue is expected to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Europe are expected to grow by 1.5%. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings.
공시 • May 16Motor Oil (Hellas) Corinth Refineries S.A. to Report Q1, 2026 Results on May 27, 2026Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report Q1, 2026 results After-Market on May 27, 2026
Major Estimate Revision • Apr 07Consensus revenue estimates increase by 23%The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from €11.7b to €14.5b. EPS estimate unchanged from €4.89 at last update. Oil and Gas industry in Greece expected to see average net income growth of 35% next year. Consensus price target broadly unchanged at €36.15. Share price rose 2.1% to €38.90 over the past week.
Major Estimate Revision • Mar 31Consensus revenue estimates increase by 23%The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from €11.7b to €14.5b. EPS estimate unchanged from €4.89 at last update. Oil and Gas industry in Greece expected to see average net income growth of 34% next year. Consensus price target broadly unchanged at €36.15. Share price was steady at €38.10 over the past week.
New Risk • Mar 27New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 60% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 15% 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. Large one-off items impacting financial results.
Reported Earnings • Mar 26Full year 2025 earnings: EPS misses analyst expectationsFull year 2025 results: EPS: €5.98 (up from €2.62 in FY 2024). Revenue: €11.5b (down 5.8% from FY 2024). Net income: €647.5m (up 129% from FY 2024). Profit margin: 5.6% (up from 2.3% in FY 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.5%. Revenue is forecast to stay flat during the next 3 years compared to a 1.8% growth forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings.
공시 • Mar 06+ 1 more updateMotor Oil (Hellas) Corinth Refineries S.A. to Report First Half, 2026 Results on Aug 26, 2026Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report first half, 2026 results on Aug 26, 2026
분석 기사 • Feb 05Motor Oil (Hellas) Corinth Refineries (ATH:MOH) Is Looking To Continue Growing Its Returns On CapitalIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
Price Target Changed • Jan 28Price target increased by 8.6% to €33.59Up from €30.91, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of €33.82. Stock is up 58% over the past year. The company is forecast to post earnings per share of €6.25 for next year compared to €2.62 last year.
분석 기사 • Jan 21We Think Motor Oil (Hellas) Corinth Refineries (ATH:MOH) Is Taking Some Risk With Its DebtWarren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
Price Target Changed • Jan 20Price target increased by 7.6% to €32.98Up from €30.66, the current price target is an average from 8 analysts. New target price is 10% above last closing price of €29.90. Stock is up 39% over the past year. The company is forecast to post earnings per share of €6.25 for next year compared to €2.62 last year.
분석 기사 • Jan 05There Is A Reason Motor Oil (Hellas) Corinth Refineries S.A.'s (ATH:MOH) Price Is UndemandingMotor Oil (Hellas) Corinth Refineries S.A.'s ( ATH:MOH ) price-to-earnings (or "P/E") ratio of 6.6x might make it look...
Buy Or Sell Opportunity • Dec 16Now 20% undervaluedOver the last 90 days, the stock has risen 17% to €30.18. The fair value is estimated to be €37.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 43%. For the next 3 years, revenue is forecast to decline by 0.9% per annum. Earnings are also forecast to decline by 3.2% per annum over the same time period.
분석 기사 • Dec 02We Think You Should Be Aware Of Some Concerning Factors In Motor Oil (Hellas) Corinth Refineries' (ATH:MOH) EarningsThe recent earnings posted by Motor Oil (Hellas) Corinth Refineries S.A. ( ATH:MOH ) were solid, but the stock didn't...
New Risk • Nov 26New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 3.2% 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 3.2% per year for the foreseeable future. Minor Risks High level of debt (51% net debt to equity). Dividend is not well covered by cash flows (120% cash payout ratio). Large one-off items impacting financial results.
Declared Dividend • Nov 05First half dividend of €0.35 announcedShareholders will receive a dividend of €0.35. Ex-date: 23rd December 2025 Payment date: 5th January 2026 Dividend yield will be 5.6%, which is lower than the industry average of 6.4%. Sustainability & Growth Dividend is not covered by earnings (139% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 54% to bring the payout ratio under control. EPS is expected to grow by 90% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.
공시 • Nov 04Motor Oil (Hellas) Corinth Refineries S.A. to Report Nine Months, 2025 Results on Nov 19, 2025Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report nine months, 2025 results on Nov 19, 2025
분석 기사 • Oct 17An Intrinsic Calculation For Motor Oil (Hellas) Corinth Refineries S.A. (ATH:MOH) Suggests It's 20% UndervaluedKey Insights Using the 2 Stage Free Cash Flow to Equity, Motor Oil (Hellas) Corinth Refineries fair value estimate is...
Buy Or Sell Opportunity • Oct 16Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 5.3% to €24.50. The fair value is estimated to be €30.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 42%. For the next 3 years, revenue is forecast to decline by 0.8% per annum. Earnings are forecast to grow by 9.5% per annum over the same time period.
분석 기사 • Oct 02We Think Motor Oil (Hellas) Corinth Refineries (ATH:MOH) Is Taking Some Risk With Its DebtDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
분석 기사 • Sep 15Motor Oil (Hellas) Corinth Refineries S.A.'s (ATH:MOH) Shares Lagging The Industry But So Is The BusinessYou may think that with a price-to-sales (or "P/S") ratio of 0.2x Motor Oil (Hellas) Corinth Refineries S.A. ( ATH:MOH...
분석 기사 • Aug 31Analysts Are Upgrading Motor Oil (Hellas) Corinth Refineries S.A. (ATH:MOH) After Its Latest ResultsShareholders might have noticed that Motor Oil (Hellas) Corinth Refineries S.A. ( ATH:MOH ) filed its second-quarter...
Reported Earnings • Aug 31Second quarter 2025 earnings released: EPS: €0.72 (vs €1.56 in 2Q 2024)Second quarter 2025 results: EPS: €0.72 (down from €1.56 in 2Q 2024). Revenue: €2.59b (down 21% from 2Q 2024). Net income: €77.5m (down 54% from 2Q 2024). Profit margin: 3.0% (down from 5.2% in 2Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 11% growth forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.
New Risk • Aug 29New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 16% 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 Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings are forecast to decline by an average of 16% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (283% cash payout ratio). Profit margins are more than 30% lower than last year (1.5% net profit margin).
분석 기사 • Aug 14Motor Oil (Hellas) Corinth Refineries' (ATH:MOH) Returns On Capital Are Heading HigherATSE:MOH 1 Year Share Price vs Fair Value Explore Motor Oil (Hellas) Corinth Refineries's Fair Values from the...
Declared Dividend • Jun 20Dividend of €1.10 announcedShareholders will receive a dividend of €1.10. Ex-date: 25th June 2025 Payment date: 2nd July 2025 Dividend yield will be 5.8%, which is lower than the industry average of 6.4%. Sustainability & Growth Dividend is covered by earnings (86% earnings payout ratio) but not covered by cash flows (283% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next year, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • May 29First quarter 2025 earnings released: EPS: €0.78 (vs €1.76 in 1Q 2024)First quarter 2025 results: EPS: €0.78 (down from €1.76 in 1Q 2024). Revenue: €2.68b (down 10% from 1Q 2024). Net income: €84.6m (down 56% from 1Q 2024). Profit margin: 3.2% (down from 6.4% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to decline by 1.7% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.
Major Estimate Revision • May 29Consensus revenue estimates decrease by 11%The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from €10.9b to €9.74b. EPS estimate unchanged from €2.75 per share at last update. Oil and Gas industry in Greece expected to see average net income growth of 3.0% next year. Consensus price target of €25.06 unchanged from last update. Share price was steady at €23.48 over the past week.
공시 • May 16Motor Oil (Hellas) Corinth Refineries S.A. to Report Q1, 2025 Results on May 26, 2025Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report Q1, 2025 results After-Market on May 26, 2025
Reported Earnings • Apr 04Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2024 results: EPS: €2.62 (down from €7.43 in FY 2023). Revenue: €12.2b (down 8.5% from FY 2023). Net income: €283.4m (down 65% from FY 2023). Profit margin: 2.3% (down from 6.1% in FY 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to decline by 1.8% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings.
공시 • Mar 20+ 1 more updateMotor Oil (Hellas) Corinth Refineries S.A. to Report First Half, 2025 Results on Aug 27, 2025Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report first half, 2025 results on Aug 27, 2025
공시 • Mar 15Motor Oil (Hellas) Corinth Refineries S.A., Annual General Meeting, Jun 18, 2025Motor Oil (Hellas) Corinth Refineries S.A., Annual General Meeting, Jun 18, 2025.
Upcoming Dividend • Dec 16Upcoming dividend of €0.30 per shareEligible shareholders must have bought the stock before 23 December 2024. Payment date: 03 January 2025. Payout ratio is a comfortable 60% but the company is not cash flow positive. Trailing yield: 8.3%. Within top quartile of Greek dividend payers (5.9%). Higher than average of industry peers (7.3%).
Major Estimate Revision • Dec 03Consensus EPS estimates fall by 20%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €12.3b to €12.1b. EPS estimate also fell from €3.88 per share to €3.12 per share. Net income forecast to grow 9.2% next year vs 16% growth forecast for Oil and Gas industry in Greece. Consensus price target broadly unchanged at €26.94. Share price rose 3.2% to €19.99 over the past week.
New Risk • Nov 21New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings are forecast to decline by an average of 11% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (2.4% net profit margin).
Reported Earnings • Nov 21Third quarter 2024 earnings released: €1.29 loss per share (vs €4.06 profit in 3Q 2023)Third quarter 2024 results: €1.29 loss per share (down from €4.06 profit in 3Q 2023). Revenue: €3.13b (down 23% from 3Q 2023). Net loss: €138.7m (down 132% from profit in 3Q 2023). Revenue is expected to fall by 3.2% p.a. on average during the next 3 years compared to a 1.1% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
공시 • Nov 07Motor Oil (Hellas) Corinth Refineries S.A. to Report Nine Months, 2024 Results on Nov 20, 2024Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report nine months, 2024 results on Nov 20, 2024
Declared Dividend • Nov 01First half dividend of €0.30 announcedShareholders will receive a dividend of €0.30. Ex-date: 23rd December 2024 Payment date: 3rd January 2025 Dividend yield will be 8.8%, which is higher than the industry average of 6.4%. Sustainability & Growth Dividend is covered by both earnings (17% earnings payout ratio) and cash flows (64% cash payout ratio). The dividend has increased by an average of 25% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 81% over the next 3 years. A fall of 81% would increase the payout ratio to a potentially unsustainable range, which means the dividend may be at risk.
Major Estimate Revision • Oct 16Consensus EPS estimates fall by 20%, revenue upgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from €12.5b to €12.7b. EPS estimate fell from €4.83 to €3.88 per share. Net income forecast to shrink 59% next year vs 19% growth forecast for Oil and Gas industry in Greece . Consensus price target down from €28.81 to €27.83. Share price was steady at €20.56 over the past week.
Reported Earnings • Aug 29Second quarter 2024 earnings released: EPS: €1.56 (vs €0.36 in 2Q 2023)Second quarter 2024 results: EPS: €1.56 (up from €0.36 in 2Q 2023). Revenue: €3.26b (up 24% from 2Q 2023). Net income: €168.3m (up 332% from 2Q 2023). Profit margin: 5.2% (up from 1.5% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is expected to fall by 4.5% p.a. on average during the next 3 years compared to a 1.0% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth.
Major Estimate Revision • Aug 25Consensus EPS estimates fall by 44%, revenue upgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from €12.0b to €12.2b. EPS estimate fell from €5.23 to €2.92 per share. Net income forecast to shrink 55% next year vs 14% growth forecast for Oil and Gas industry in Greece . Consensus price target broadly unchanged at €28.81. Share price was steady at €21.14 over the past week.
공시 • Aug 14Motor Oil (Hellas) Corinth Refineries S.A. to Report First Half, 2024 Results on Aug 28, 2024Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report first half, 2024 results on Aug 28, 2024
New Risk • Aug 05New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Greek stocks, typically moving 4.7% 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 Risks Debt is not well covered by operating cash flow (8.9% operating cash flow to total debt). Earnings are forecast to decline by an average of 30% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (4.7% average weekly change).
Declared Dividend • Jun 21Dividend of €1.43 announcedShareholders will receive a dividend of €1.43. Ex-date: 26th June 2024 Payment date: 3rd July 2024 Dividend yield will be 7.4%, which is higher than the industry average of 6.4%. Sustainability & Growth Dividend is covered by earnings (26% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 25% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 58% over the next 3 years. However, it would need to fall by 71% to increase the payout ratio to a potentially unsustainable range.
Reported Earnings • May 29First quarter 2024 earnings released: EPS: €1.76 (vs €2.19 in 1Q 2023)First quarter 2024 results: EPS: €1.76 (down from €2.19 in 1Q 2023). Revenue: €2.98b (down 9.9% from 1Q 2023). Net income: €190.7m (down 20% from 1Q 2023). Profit margin: 6.4% (down from 7.2% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is expected to fall by 2.3% p.a. on average during the next 3 years compared to a 1.4% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.
공시 • May 16Motor Oil (Hellas) Corinth Refineries S.A. to Report Q1, 2024 Results on May 28, 2024Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report Q1, 2024 results on May 28, 2024
Reported Earnings • Apr 05Full year 2023 earnings: EPS and revenues miss analyst expectationsFull year 2023 results: EPS: €7.43 (down from €8.82 in FY 2022). Revenue: €13.3b (down 20% from FY 2022). Net income: €805.7m (down 17% from FY 2022). Profit margin: 6.1% (up from 5.8% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is expected to fall by 2.8% p.a. on average during the next 3 years compared to a 1.8% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth.
공시 • Apr 01Motor Oil (Hellas) Corinth Refineries S.A. to Report Fiscal Year 2023 Results on Apr 03, 2024Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report fiscal year 2023 results on Apr 03, 2024
공시 • Jan 01Motor Oil (Hellas) Corinth Refineries S.A., Annual General Meeting, Jan 24, 2024Motor Oil (Hellas) Corinth Refineries S.A., Annual General Meeting, Jan 24, 2024, at 10:00 E. Europe Standard Time. Location: NJV Athens Plaza Hotel 2 Vassileos Georgiou A Street, Zip Code 105 64, Syntagma Square Athens Greece
Major Estimate Revision • Dec 21Consensus EPS estimates increase by 12%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €7.09 to €7.96. Revenue forecast steady at €13.9b. Net income forecast to shrink 12% next year vs 15% growth forecast for Oil and Gas industry in Greece . Consensus price target up from €26.64 to €27.84. Share price fell 3.0% to €24.26 over the past week.
Price Target Changed • Dec 20Price target increased by 7.8% to €27.84Up from €25.83, the current price target is an average from 7 analysts. New target price is 15% above last closing price of €24.28. Stock is up 12% over the past year. The company is forecast to post earnings per share of €7.96 for next year compared to €8.82 last year.
Upcoming Dividend • Dec 11Upcoming dividend of €0.40 per share at 6.5% yieldEligible shareholders must have bought the stock before 18 December 2023. Payment date: 22 December 2023. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 6.5%. Within top quartile of Greek dividend payers (4.6%). Lower than average of industry peers (9.0%).
Major Estimate Revision • Nov 28Consensus revenue estimates increase by 12%The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from €12.3b to €13.7b. EPS estimate unchanged from €5.86 at last update. Oil and Gas industry in Greece expected to see average net income growth of 15% next year. Consensus price target of €26.41 unchanged from last update. Share price rose 11% to €24.76 over the past week.
Reported Earnings • Nov 23Third quarter 2023 earnings released: EPS: €4.06 (vs €2.92 in 3Q 2022)Third quarter 2023 results: EPS: €4.06 (up from €2.92 in 3Q 2022). Revenue: €4.04b (down 15% from 3Q 2022). Net income: €440.9m (up 37% from 3Q 2022). Profit margin: 11% (up from 6.7% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is expected to fall by 6.2% p.a. on average during the next 3 years compared to a 3.3% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth.
공시 • Nov 08Motor Oil (Hellas) Corinth Refineries S.A. to Report Nine Months, 2023 Results on Nov 21, 2023Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report nine months, 2023 results on Nov 21, 2023
New Risk • Aug 30New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.8% Last year net profit margin: 5.5% 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: Major Risk Earnings are forecast to decline by an average of 24% per year for the foreseeable future. Minor Risks High level of debt (59% net debt to equity). 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 (3.8% net profit margin).
공시 • Aug 19Motor Oil (Hellas) Corinth Refineries S.A. to Report First Half, 2023 Results on Aug 29, 2023Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report first half, 2023 results on Aug 29, 2023
Upcoming Dividend • Jun 19Upcoming dividend of €1.20 per share at 6.5% yieldEligible shareholders must have bought the stock before 26 June 2023. Payment date: 03 July 2023. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 6.5%. Within top quartile of Greek dividend payers (4.8%). Lower than average of industry peers (9.0%).
Major Estimate Revision • Jun 06Consensus revenue estimates decrease by 13%The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from €15.2b to €13.3b. EPS estimate unchanged from €3.76 per share at last update. Oil and Gas industry in Greece expected to see average net income decline 8.8% next year. Consensus price target down from €26.67 to €25.71. Share price fell 2.0% to €23.10 over the past week.
공시 • Jun 01Motor Oil (Hellas) Corinth Refineries S.A., Annual General Meeting, Jun 07, 2023Motor Oil (Hellas) Corinth Refineries S.A., Annual General Meeting, Jun 07, 2023, at 07:00 Coordinated Universal Time. Location: NJV Athens Plaza Hotel, 2 Vassileos Georgiou A Street, Zip Code 105 64, Syntagma Square, Athens Athens Greece
Reported Earnings • May 31First quarter 2023 earnings released: EPS: €2.19 (vs €1.79 in 1Q 2022)First quarter 2023 results: EPS: €2.19 (up from €1.79 in 1Q 2022). Revenue: €3.31b (up 1.5% from 1Q 2022). Net income: €237.4m (up 20% from 1Q 2022). Profit margin: 7.2% (up from 6.1% in 1Q 2022). Revenue is expected to fall by 4.3% p.a. on average during the next 3 years compared to a 5.0% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.
Price Target Changed • Feb 02Price target increased by 7.2% to €26.37Up from €24.60, the current price target is an average from 6 analysts. New target price is 18% above last closing price of €22.40. Stock is up 56% over the past year. The company is forecast to post earnings per share of €8.41 for next year compared to €1.83 last year.
Buying Opportunity • Jan 25Now 20% undervaluedOver the last 90 days, the stock is up 29%. The fair value is estimated to be €27.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 87%. Revenue is forecast to grow by 0.3% in 2 years. Earnings is forecast to decline by 54% in the next 2 years.