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Nokian Renkaat Oyj

WBAG:NRE1
Snowflake Description

Flawless balance sheet with solid track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NRE1
WBAG
€4B
Market Cap
  1. Home
  2. AT
  3. Automobiles
Company description

Nokian Renkaat Oyj develops and manufactures tires in Finland, Sweden, Norway, Russia, the rest of Europe, North America, and internationally. The last earnings update was 48 days ago. More info.


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NRE1 Share Price and Events
7 Day Returns
0.7%
WBAG:NRE1
4.2%
Europe Auto Components
0.9%
AT Market
1 Year Returns
-
WBAG:NRE1
-28%
Europe Auto Components
-4.7%
AT Market
NRE1 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Nokian Renkaat Oyj (NRE1) 0.7% 5.2% - - - -
Europe Auto Components 4.2% 3.9% 0.1% -28% -5.2% -4.5%
AT Market 0.9% 0% -1.7% -4.7% 49.8% 20%
1 Year Return vs Industry and Market
  • No trading data on NRE1.
  • No trading data on NRE1.
Price Volatility
NRE1
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Nokian Renkaat Oyj undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Nokian Renkaat Oyj to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Nokian Renkaat Oyj.

WBAG:NRE1 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 19 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.2%
Perpetual Growth Rate 10-Year AT Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for WBAG:NRE1
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6.5%
Auto Components Unlevered Beta Simply Wall St/ S&P Global 1.21
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.206 (1 + (1- 20%) (7.16%))
1.184
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.18
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (1.184 * 6.51%)
8.22%

Discounted Cash Flow Calculation for WBAG:NRE1 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Nokian Renkaat Oyj is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

WBAG:NRE1 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 8.22%)
2019 107.72 Analyst x10 99.54
2020 136.64 Analyst x11 116.67
2021 215.75 Analyst x8 170.24
2022 291.00 Analyst x1 212.18
2023 301.00 Analyst x1 202.80
2024 308.58 Est @ 2.52% 192.12
2025 314.50 Est @ 1.92% 180.93
2026 319.20 Est @ 1.49% 169.69
2027 323.03 Est @ 1.2% 158.69
2028 326.23 Est @ 0.99% 148.09
Present value of next 10 years cash flows €1,650.95
WBAG:NRE1 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €326.23 × (1 + 0.51%) ÷ (8.22% – 0.51%)
€4,253.95
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €4,253.95 ÷ (1 + 8.22%)10
€1,931.06
WBAG:NRE1 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €1,650.95 + €1,931.06
€3,582.01
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €3,582.01 / 137.88
€25.98
WBAG:NRE1 Discount to Share Price
Calculation Result
Value per share (EUR) From above. €26.06
Current discount Discount to share price of €27.07
= -1 x (€27.07 - €26.06) / €26.06
-3.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Nokian Renkaat Oyj is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Nokian Renkaat Oyj's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Nokian Renkaat Oyj's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:NRE1 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €3.22
HLSE:TYRES Share Price ** HLSE (2019-06-25) in EUR €26.99
Europe Auto Components Industry PE Ratio Median Figure of 42 Publicly-Listed Auto Components Companies 11.88x
Austria Market PE Ratio Median Figure of 54 Publicly-Listed Companies 14.61x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Nokian Renkaat Oyj.

WBAG:NRE1 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= HLSE:TYRES Share Price ÷ EPS (both in EUR)

= 26.99 ÷ 3.22

8.37x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Nokian Renkaat Oyj is good value based on earnings compared to the Europe Auto Components industry average.
  • Nokian Renkaat Oyj is good value based on earnings compared to the Austria market.
Price based on expected Growth
Does Nokian Renkaat Oyj's expected growth come at a high price?
Raw Data
WBAG:NRE1 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.37x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts
-12.2%per year
Europe Auto Components Industry PEG Ratio Median Figure of 33 Publicly-Listed Auto Components Companies 0.73x
Austria Market PEG Ratio Median Figure of 33 Publicly-Listed Companies 1.25x

*Line of best fit is calculated by linear regression .

WBAG:NRE1 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.37x ÷ -12.2%

-0.69x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Nokian Renkaat Oyj earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Nokian Renkaat Oyj's assets?
Raw Data
WBAG:NRE1 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €12.62
HLSE:TYRES Share Price * HLSE (2019-06-25) in EUR €26.99
Europe Auto Components Industry PB Ratio Median Figure of 47 Publicly-Listed Auto Components Companies 1.33x
Austria Market PB Ratio Median Figure of 62 Publicly-Listed Companies 1.16x
WBAG:NRE1 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= HLSE:TYRES Share Price ÷ Book Value per Share (both in EUR)

= 26.99 ÷ 12.62

2.14x

* Primary Listing of Nokian Renkaat Oyj.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Nokian Renkaat Oyj is overvalued based on assets compared to the Europe Auto Components industry average.
X
Value checks
We assess Nokian Renkaat Oyj's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Auto Components industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Auto Components industry average (and greater than 0)? (1 check)
  5. Nokian Renkaat Oyj has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Nokian Renkaat Oyj expected to perform in the next 1 to 3 years based on estimates from 19 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-12.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Nokian Renkaat Oyj expected to grow at an attractive rate?
  • Nokian Renkaat Oyj's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Nokian Renkaat Oyj's earnings are expected to decrease over the next 1-3 years, this is below the Austria market average.
  • Nokian Renkaat Oyj's revenue growth is expected to exceed the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:NRE1 Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:NRE1 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts -12.2%
WBAG:NRE1 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 19 Analysts 5.7%
Europe Auto Components Industry Earnings Growth Rate Market Cap Weighted Average 9.4%
Europe Auto Components Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
Austria Market Earnings Growth Rate Market Cap Weighted Average 8.8%
Austria Market Revenue Growth Rate Market Cap Weighted Average 3.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
WBAG:NRE1 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WBAG:NRE1 Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 448
2022-12-31 1,956 438 328 2
2021-12-31 1,844 411 312 15
2020-12-31 1,742 369 287 19
2019-12-31 1,644 419 400 19
WBAG:NRE1 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 1,603 486 443
2018-12-31 1,596 537 295
2018-09-30 1,613 445 294
2018-06-30 1,619 431 239
2018-03-31 1,583 256 223
2017-12-31 1,573 234 221
2017-09-30 1,543 323 218
2017-06-30 1,497 358 267
2017-03-31 1,441 386 257
2016-12-31 1,391 364 252
2016-09-30 1,353 306 144
2016-06-30 1,347 249 142

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Nokian Renkaat Oyj's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Nokian Renkaat Oyj's revenue is expected to grow by 5.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
WBAG:NRE1 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below

All data from Nokian Renkaat Oyj Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:NRE1 Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 2.38 2.38 2.38 1.00
2021-12-31 2.24 2.36 1.94 11.00
2020-12-31 2.09 2.32 1.93 16.00
2019-12-31 2.76 3.23 1.78 15.00
WBAG:NRE1 Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 3.22
2018-12-31 2.15
2018-09-30 2.14
2018-06-30 1.74
2018-03-31 1.63
2017-12-31 1.62
2017-09-30 1.60
2017-06-30 1.97
2017-03-31 1.90
2016-12-31 1.87
2016-09-30 1.07
2016-06-30 1.06

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Nokian Renkaat Oyj is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Nokian Renkaat Oyj's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Nokian Renkaat Oyj has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Nokian Renkaat Oyj performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Nokian Renkaat Oyj's growth in the last year to its industry (Auto Components).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Nokian Renkaat Oyj's year on year earnings growth rate has been positive over the past 5 years.
  • Nokian Renkaat Oyj's 1-year earnings growth exceeds its 5-year average (99% vs 11%)
  • Nokian Renkaat Oyj's earnings growth has exceeded the Europe Auto Components industry average in the past year (99% vs -3.3%).
Earnings and Revenue History
Nokian Renkaat Oyj's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Nokian Renkaat Oyj Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:NRE1 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,603.30 443.20 330.60
2018-12-31 1,595.60 295.20 332.40
2018-09-30 1,612.50 294.00 336.40
2018-06-30 1,618.80 239.10 342.20
2018-03-31 1,582.60 222.70 343.00
2017-12-31 1,572.50 221.40 345.60
2017-09-30 1,542.70 217.90 346.70
2017-06-30 1,496.80 267.00 338.60
2017-03-31 1,441.30 257.20 328.90
2016-12-31 1,391.20 251.80 313.40
2016-09-30 1,352.70 143.80 300.80
2016-06-30 1,346.60 142.10 298.30
2016-03-31 1,354.60 145.30 294.40
2015-12-31 1,360.10 240.70 291.50
2015-09-30 1,317.80 307.60 288.00
2015-06-30 1,334.40 303.40 284.20
2015-03-31 1,358.50 304.90 280.30
2014-12-31 1,389.10 208.40 281.00
2014-09-30 1,421.10 121.70 280.70
2014-06-30 1,450.30 139.20 281.60
2014-03-31 1,499.80 158.90 285.70
2013-12-31 1,521.00 183.70 285.70
2013-09-30 1,555.50 308.70 285.30
2013-06-30 1,566.60 297.30 283.00
2013-03-31 1,561.20 306.90 277.90
2012-12-31 1,612.40 330.90 273.20
2012-09-30 1,648.50 336.80 265.00
2012-06-30 1,626.80 355.20 257.20

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Nokian Renkaat Oyj has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Nokian Renkaat Oyj used its assets more efficiently than the Europe Auto Components industry average last year based on Return on Assets.
  • Nokian Renkaat Oyj's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Nokian Renkaat Oyj's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Auto Components industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Nokian Renkaat Oyj has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Nokian Renkaat Oyj's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Nokian Renkaat Oyj's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Nokian Renkaat Oyj is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Nokian Renkaat Oyj's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Nokian Renkaat Oyj's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Nokian Renkaat Oyj Company Filings, last reported 2 months ago.

WBAG:NRE1 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,740.10 266.60 321.40
2018-12-31 1,486.10 132.30 448.10
2018-09-30 1,413.60 133.40 107.60
2018-06-30 1,377.40 134.40 234.00
2018-03-31 1,505.90 135.00 309.00
2017-12-31 1,468.40 135.20 343.80
2017-09-30 1,376.30 210.60 94.10
2017-06-30 1,384.90 136.40 172.30
2017-03-31 1,546.80 226.80 480.20
2016-12-31 1,458.40 225.80 516.80
2016-09-30 1,307.30 224.20 103.20
2016-06-30 1,201.30 223.90 144.30
2016-03-31 1,319.50 221.60 333.50
2015-12-31 1,241.60 219.60 430.40
2015-09-30 1,301.40 250.60 68.00
2015-06-30 1,316.70 285.70 204.60
2015-03-31 1,413.00 285.70 398.30
2014-12-31 1,208.50 274.20 465.60
2014-09-30 1,309.00 415.30 53.00
2014-06-30 1,280.00 297.70 67.80
2014-03-31 1,381.70 367.80 385.40
2013-12-31 1,392.70 366.50 438.30
2013-09-30 1,443.60 502.90 85.70
2013-06-30 1,373.80 422.20 115.10
2013-03-31 1,516.40 366.40 320.10
2012-12-31 1,437.10 362.30 430.30
2012-09-30 1,349.40 543.50 63.00
2012-06-30 1,272.30 530.60 201.40
  • Nokian Renkaat Oyj's level of debt (15.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (26.6% vs 15.3% today).
  • Debt is well covered by operating cash flow (182.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 126.4x coverage).
X
Financial health checks
We assess Nokian Renkaat Oyj's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Nokian Renkaat Oyj has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Nokian Renkaat Oyj's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.85%
Current annual income from Nokian Renkaat Oyj dividends. Estimated to be 6.13% next year.
If you bought €2,000 of Nokian Renkaat Oyj shares you are expected to receive €117 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Nokian Renkaat Oyj's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.43%).
  • Nokian Renkaat Oyj's dividend is above the markets top 25% of dividend payers in Austria (4.53%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
WBAG:NRE1 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below
Europe Auto Components Industry Average Dividend Yield Market Cap Weighted Average of 34 Stocks 3.6%
Austria Market Average Dividend Yield Market Cap Weighted Average of 51 Stocks 3.6%
Austria Minimum Threshold Dividend Yield 10th Percentile 1%
Austria Bottom 25% Dividend Yield 25th Percentile 1.4%
Austria Top 25% Dividend Yield 75th Percentile 4.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

WBAG:NRE1 Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 1.67 2.00
2021-12-31 1.68 15.00
2020-12-31 1.61 19.00
2019-12-31 1.68 19.00
WBAG:NRE1 Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-05 1.580 5.450
2018-02-02 1.560 4.759
2017-02-02 1.530 4.086
2016-02-08 1.500 4.623
2015-02-05 1.450 4.998
2014-02-07 1.450 5.606
2013-02-06 1.450 4.215
2012-08-08 1.200 3.778
2012-03-19 1.200 3.709
2012-02-08 1.200 3.506
2011-02-09 0.650 2.333
2010-02-11 0.400 1.810

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Nokian Renkaat Oyj has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Nokian Renkaat Oyj only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Nokian Renkaat Oyj's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.4x coverage).
X
Income/ dividend checks
We assess Nokian Renkaat Oyj's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Nokian Renkaat Oyj afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Nokian Renkaat Oyj has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Nokian Renkaat Oyj's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Hille Korhonen
COMPENSATION €0
AGE 57
TENURE AS CEO 2 years
CEO Bio

Ms. Hille Korhonen, Lic. Tech., has been the Chief Executive Officer and President of Nokian Renkaat Oyj since June 1, 2017. Ms. Korhonen served as the Chief Executive Officer and President of Alko Inc., until June 6, 2017. Ms. Korhonen has been a Group Director of Logistics & Sourcing at Iittala Group Oy AB (now known as Fiskars Home Oy Ab) since 2003. She served as the Vice President of Operations at Fiskars Brands, Inc., since 2008. She served as a Vice President of Operations at Lassila & Tikanoja Oyj. She served as a Director of Operations of Iittala Group Oy Ab (formerly, Iittala Ltd.) since 2003. She served as a Vice President of Operations at Fiskars OYj from March 2008 to November 30, 2012 and served as its Member of the Executive Board until October 2012. Ms. Korhonen served as Executive positions within worldwide delivery chain strategies and processes in Nokia Corporation from 2000 to 2003, Nokia Networks from 1998 to 2000 and Nokia Mobile Phones from 1996 to 1997, positions in developing logistics and marketing at Outokumpu Copper from 1993 to 1996. She has been a Director of Ilmarinen Mutual Pension Insurance Company since January 01, 2015. She serves as a Director of Iittala Group Oy Ab and Mint of Finland Ltd. She served as an Independent Director of Nokian Renkaat Oyj (formerly, Nokian Tyres Oyj) since April 2006 until April 10, 2017. She served as a Director of Alko Inc. until August 28, 2015. She served as a Director of Lassila & Tikanoja Oyj since 2009 until March 18, 2015. She served as a Director of Mint of Finland Ltd. (a/k/a Rahapaja Oy). She is a Member of the Economic Policy Committee at the Central Chamber of Commerce. She holds Licentiate of Science (Technology).

CEO Compensation
  • Hille's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Hille's remuneration is lower than average for companies of similar size in Austria.
Management Team Tenure

Average tenure and age of the Nokian Renkaat Oyj management team in years:

1.1
Average Tenure
52
Average Age
  • The average tenure for the Nokian Renkaat Oyj management team is less than 2 years, this suggests a new team.
Management Team

Hille Korhonen

TITLE
President & CEO
AGE
57
TENURE
2 yrs

Teemu Kangas-Kärki

TITLE
Chief Financial Officer
AGE
52
TENURE
0.9 yrs

Peter Chia

TITLE
Plant Manager & Operations Director
TENURE
0.7 yrs

Jukka Kasi

TITLE
Vice President of Products & Technologies
AGE
52
TENURE
0.7 yrs

Mike Shimazaki

TITLE
Director of Administration & Sales
COMPENSATION
€5K
AGE
60

Päivi Antola

TITLE
Senior Vice President of Investor Relations & Corporate Communications
AGE
47
TENURE
1.1 yrs

Susanna Tusa

TITLE
VP of Legal & Compliance and Secretary
AGE
46

Antti-Jussi Tähtinen

TITLE
Vice President of Marketing
AGE
53

Andrei Pantioukhov

TITLE
Executive VP and GM of Russia & Asia Business Area
AGE
46
TENURE
10.4 yrs

Tytti Bergman

TITLE
Senior Vice President of People & Culture
AGE
49
TENURE
1.2 yrs
Board of Directors Tenure

Average tenure and age of the Nokian Renkaat Oyj board of directors in years:

3.2
Average Tenure
61.5
Average Age
  • The tenure for the Nokian Renkaat Oyj board of directors is about average.
Board of Directors

Petteri Walldén

TITLE
Chairman of the Board
COMPENSATION
€102K
AGE
70
TENURE
13.2 yrs

Kari Alpo Jordan

TITLE
Deputy Chairman
COMPENSATION
€76K
AGE
62
TENURE
1.2 yrs

Raimo Lind

TITLE
Director
COMPENSATION
€79K
AGE
65
TENURE
5.2 yrs

Inka Mero

TITLE
Independent Director
COMPENSATION
€54K
AGE
42
TENURE
5.2 yrs

Heikki Allonen

TITLE
Independent Director
COMPENSATION
€54K
AGE
64
TENURE
3.2 yrs

Veronica Lindholm

TITLE
Independent Director
COMPENSATION
€57K
AGE
48
TENURE
3.2 yrs

George Rietbergen

TITLE
Independent Director
COMPENSATION
€53K
AGE
54
TENURE
2.2 yrs

Pekka Vauramo

TITLE
Director
COMPENSATION
€52K
AGE
61
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Nokian Renkaat Oyj's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Nokian Renkaat Oyj has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Nokian Renkaat Oyj develops and manufactures tires in Finland, Sweden, Norway, Russia, the rest of Europe, North America, and internationally. It operates through Passenger Car Tyres, Heavy Tyres, and Vianor segments. The Passenger Car Tyres segment develops and produces summer and winter tires for cars and vans. The Heavy Tyres segment offers tires for forestry machinery; and special tires for agricultural machinery, tractors, and industrial machinery, as well as retreading services and truck tires. The Vianor Tyre segment sells car and van tires, as well as truck tires under the Nokian brand, as well as other leading tire brands; and other automotive products and services. The company offers its products through its owned and partnered stores, authorized dealer partners, N-Tyre retailers, and other tire and vehicle retailers, as well as online stores. As of December 31, 2018, it operated 1,318 Vianor service centers; 2,162 Nokian tires authorized dealer stores; and 127 N-Tyre stores. Nokian Renkaat Oyj operates 3,500 stores. The company was founded in 1898 and is headquartered in Nokia, Finland.

Details
Name: Nokian Renkaat Oyj
NRE1
Exchange: WBAG
Founded: 1898
€3,721,495,826
137,884,247
Website: http://www.nokiantyres.com
Address: Nokian Renkaat Oyj
Pirkkalaistie 7,
PO Box 20,
Nokia,
Pirkanmaa, 37101,
Finland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
HLSE TYRES Ordinary Shares OMX Nordic Exchange Helsinki FI EUR 06. Jun 1995
OTCPK NKRK.F Ordinary Shares Pink Sheets LLC US USD 06. Jun 1995
DB NRE Ordinary Shares Deutsche Boerse AG DE EUR 06. Jun 1995
LSE 0FFY Ordinary Shares London Stock Exchange GB EUR 06. Jun 1995
WBAG NRE1 Ordinary Shares Wiener Boerse AG AT EUR 06. Jun 1995
OTCPK NKRK.Y UNSPONSORD ADR Pink Sheets LLC US USD 27. Sep 2011
Number of employees
Current staff
Staff numbers
4,968
Nokian Renkaat Oyj employees.
Industry
Tires and Rubber
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/25 21:56
End of day share price update: 2019/06/25 00:00
Last estimates confirmation: 2019/06/21
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.