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Evonik Industries

WBAG:EVK
Snowflake Description

Good value with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
EVK
WBAG
€13B
Market Cap
  1. Home
  2. AT
  3. Materials
Company description

Evonik Industries AG engages in the specialty chemicals business worldwide. The last earnings update was 48 days ago. More info.


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EVK Share Price and Events
7 Day Returns
3%
WBAG:EVK
2.9%
Europe Chemicals
3.4%
AT Market
1 Year Returns
-8.7%
WBAG:EVK
-1.6%
Europe Chemicals
-2%
AT Market
EVK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Evonik Industries (EVK) 3% 8% 14.2% -8.7% - -
Europe Chemicals 2.9% 4.4% 11.7% -1.6% 21.6% 27.3%
AT Market 3.4% 6% 10.1% -2% 43.4% 29.5%
1 Year Return vs Industry and Market
  • EVK underperformed the Chemicals industry which returned -1.6% over the past year.
  • EVK underperformed the Market in Austria which returned -2% over the past year.
Price Volatility
EVK
Industry
5yr Volatility vs Market

Value

 Is Evonik Industries 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 Evonik Industries 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 Evonik Industries.

WBAG:EVK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7%
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:EVK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6%
Chemicals Unlevered Beta Simply Wall St/ S&P Global 0.93
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.931 (1 + (1- 30%) (30.93%))
1.089
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.09
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (1.089 * 5.96%)
7%

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

The calculations below outline how an intrinsic value for Evonik Industries 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:EVK DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 7%)
2019 863.71 Analyst x7 807.19
2020 694.68 Analyst x8 606.74
2021 879.65 Analyst x7 718.03
2022 1,068.95 Analyst x4 815.46
2023 1,194.43 Analyst x3 851.56
2024 1,289.03 Est @ 7.92% 858.87
2025 1,362.47 Est @ 5.7% 848.40
2026 1,418.88 Est @ 4.14% 825.72
2027 1,462.18 Est @ 3.05% 795.24
2028 1,495.65 Est @ 2.29% 760.22
Present value of next 10 years cash flows €7,887.45
WBAG:EVK DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €1,495.65 × (1 + 0.51%) ÷ (7% – 0.51%)
€23,158.38
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €23,158.38 ÷ (1 + 7%)10
€11,771.12
WBAG:EVK Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €7,887.45 + €11,771.12
€19,658.57
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €19,658.57 / 465.69
€42.21
WBAG:EVK Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in WBAG:EVK represents 1.00073x of DB:EVK
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00073x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 42.21 x 1.00073
€42.24
Value per share (EUR) From above. €42.24
Current discount Discount to share price of €27.27
= -1 x (€27.27 - €42.24) / €42.24
35.4%

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

Current Discount
Amount off the current price Evonik Industries is available for.
Intrinsic value
35%
Share price is €27.27 vs Future cash flow value of €42.24
Current Discount Checks
For Evonik Industries to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Evonik Industries's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Evonik Industries's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 Evonik Industries's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Evonik Industries's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:EVK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €2.00
DB:EVK Share Price ** DB (2019-04-18) in EUR €27.25
Europe Chemicals Industry PE Ratio Median Figure of 93 Publicly-Listed Chemicals Companies 18.75x
Austria Market PE Ratio Median Figure of 51 Publicly-Listed Companies 14.73x

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

** Primary Listing of Evonik Industries.

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

= DB:EVK Share Price ÷ EPS (both in EUR)

= 27.25 ÷ 2.00

13.65x

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

  • Evonik Industries is good value based on earnings compared to the Europe Chemicals industry average.
  • Evonik Industries is good value based on earnings compared to the Austria market.
Price based on expected Growth
Does Evonik Industries's expected growth come at a high price?
Raw Data
WBAG:EVK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.65x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
0.3%per year
Europe Chemicals Industry PEG Ratio Median Figure of 62 Publicly-Listed Chemicals Companies 1.89x
Austria Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 1.34x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.65x ÷ 0.3%

44.84x

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

  • Evonik Industries is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Evonik Industries's assets?
Raw Data
WBAG:EVK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €16.59
DB:EVK Share Price * DB (2019-04-18) in EUR €27.25
Europe Chemicals Industry PB Ratio Median Figure of 138 Publicly-Listed Chemicals Companies 1.85x
Austria Market PB Ratio Median Figure of 59 Publicly-Listed Companies 1.27x
WBAG:EVK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= DB:EVK Share Price ÷ Book Value per Share (both in EUR)

= 27.25 ÷ 16.59

1.64x

* Primary Listing of Evonik Industries.

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

  • Evonik Industries is good value based on assets compared to the Europe Chemicals industry average.
X
Value checks
We assess Evonik Industries'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 Chemicals 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 Chemicals industry average (and greater than 0)? (1 check)
  5. Evonik Industries has a total score of 4/6, 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 Evonik Industries expected to perform in the next 1 to 3 years based on estimates from 14 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
0.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Evonik Industries expected to grow at an attractive rate?
  • Evonik Industries's earnings growth is positive but not above the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Evonik Industries's earnings growth is positive but not above the Austria market average.
  • Evonik Industries's revenue growth is positive but not above the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:EVK Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:EVK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 0.3%
WBAG:EVK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 1.4%
Europe Chemicals Industry Earnings Growth Rate Market Cap Weighted Average 10%
Europe Chemicals Industry Revenue Growth Rate Market Cap Weighted Average 3.5%
Austria Market Earnings Growth Rate Market Cap Weighted Average 9%
Austria Market Revenue Growth Rate Market Cap Weighted Average 2.7%

*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:EVK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WBAG:EVK Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 16,286 2,118 976 5
2022-12-31 15,600 2,019 931 6
2021-12-31 14,616 1,815 938 13
2020-12-31 13,930 1,643 832 14
2019-12-31 13,377 1,824 801 14
WBAG:EVK Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 15,024 1,704 930
2018-09-30 14,952 1,664 1,039
2018-06-30 14,713 1,849 939
2018-03-31 14,461 1,551 860
2017-12-31 14,383 1,551 713
2017-09-30 14,015 1,667 723
2017-06-30 13,623 1,449 718
2017-03-31 13,262 1,708 656
2016-12-31 12,732 1,769 748
2016-09-30 12,725 1,774 758
2016-06-30 12,926 1,982 725
2016-03-31 13,188 1,863 981

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Evonik Industries's earnings are expected to grow by 0.3% yearly, however this is not considered high growth (20% yearly).
  • Evonik Industries's revenue is expected to grow by 1.4% 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:EVK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from Evonik Industries Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:EVK Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 2.09 2.09 2.09 1.00
2022-12-31 2.00 2.00 2.00 1.00
2021-12-31 2.03 2.22 1.79 9.00
2020-12-31 1.79 1.96 1.61 11.00
2019-12-31 2.21 4.53 1.43 11.00
WBAG:EVK Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 2.00
2018-09-30 2.23
2018-06-30 2.02
2018-03-31 1.84
2017-12-31 1.53
2017-09-30 1.55
2017-06-30 1.54
2017-03-31 1.41
2016-12-31 1.61
2016-09-30 1.63
2016-06-30 1.55
2016-03-31 2.11

*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.
  • Evonik Industries is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Evonik Industries'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.
Evonik Industries has a total score of 0/6, 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 Evonik Industries 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 Evonik Industries's growth in the last year to its industry (Chemicals).
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.
  • Evonik Industries's year on year earnings growth rate has been positive over the past 5 years.
  • Evonik Industries's 1-year earnings growth exceeds its 5-year average (30.4% vs 8.5%)
  • Evonik Industries's earnings growth has exceeded the Europe Chemicals industry average in the past year (30.4% vs 2.7%).
Earnings and Revenue History
Evonik Industries'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 Evonik Industries Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:EVK Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 15,024.00 930.00 2,408.00 459.00
2018-09-30 14,952.00 1,039.00 2,441.00 444.00
2018-06-30 14,713.00 939.00 2,432.00 449.00
2018-03-31 14,461.00 860.00 2,430.00 454.00
2017-12-31 14,383.00 713.00 2,409.00 476.00
2017-09-30 14,015.00 723.00 2,365.00 462.00
2017-06-30 13,623.00 718.00 2,321.00 455.00
2017-03-31 13,262.00 656.00 2,273.00 445.00
2016-12-31 12,732.00 748.00 2,201.00 438.00
2016-09-30 12,725.00 758.00 2,180.00 448.00
2016-06-30 12,926.00 725.00 2,154.00 441.00
2016-03-31 13,188.00 981.00 2,150.00 436.00
2015-12-31 13,507.00 1,008.00 2,140.00 434.00
2015-09-30 13,535.00 1,027.00 2,176.00 416.00
2015-06-30 13,413.00 1,004.00 2,131.00 416.00
2015-03-31 13,141.00 695.00 2,045.00 416.00
2014-12-31 12,917.00 577.00 2,010.00 413.00
2014-09-30 12,780.00 471.00 2,021.00 411.00
2014-06-30 12,735.00 444.00 2,026.00 408.00
2014-03-31 12,697.00 489.00 2,060.00 400.00
2013-12-31 12,708.00 626.00 2,064.00 394.00
2013-09-30 12,798.00 837.00 2,097.00 396.00
2013-06-30 12,959.00 1,040.00 2,104.00 391.00
2013-03-31 13,170.00 1,137.00 2,100.00 382.00
2012-12-31 13,365.00 1,100.00 2,088.00 382.00
2012-09-30 13,516.00 991.00 2,104.00 369.00
2012-06-30 13,790.00 988.00 2,076.00 360.00

*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.
  • Evonik Industries has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Evonik Industries used its assets less efficiently than the Europe Chemicals industry average last year based on Return on Assets.
  • Evonik Industries's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Evonik Industries'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 Chemicals 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.
Evonik Industries has a total score of 3/6, 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 Evonik Industries'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 Evonik Industries's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Evonik Industries is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Evonik Industries's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Evonik Industries'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 1.4x 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 Evonik Industries Company Filings, last reported 3 months ago.

WBAG:EVK Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 7,825.00 3,913.00 1,012.00
2018-09-30 7,886.00 3,929.00 883.00
2018-06-30 7,161.00 4,044.00 708.00
2018-03-31 7,319.00 4,139.00 1,300.00
2017-12-31 7,519.00 4,045.00 1,059.00
2017-09-30 7,466.00 4,016.00 998.00
2017-06-30 7,305.00 3,631.00 644.00
2017-03-31 7,786.00 3,592.00 1,364.00
2016-12-31 7,750.00 3,547.00 4,668.00
2016-09-30 6,581.00 3,533.00 4,487.00
2016-06-30 6,319.00 1,581.00 2,348.00
2016-03-31 7,628.00 1,558.00 2,829.00
2015-12-31 7,576.00 1,555.00 2,654.00
2015-09-30 7,181.00 1,682.00 2,730.00
2015-06-30 7,273.00 1,697.00 2,213.00
2015-03-31 6,426.00 1,717.00 2,383.00
2014-12-31 6,522.00 929.00 1,332.00
2014-09-30 6,188.00 1,718.00 2,182.00
2014-06-30 6,311.00 1,685.00 1,597.00
2014-03-31 6,525.00 1,647.00 2,326.00
2013-12-31 6,836.00 1,607.00 2,176.00
2013-09-30 6,746.00 2,795.00 3,520.00
2013-06-30 5,420.00 2,764.00 1,672.00
2013-03-31 5,363.00 2,258.00 1,219.00
2012-12-31 5,469.00 2,852.00 1,691.00
2012-09-30 6,573.00 3,147.00 2,262.00
2012-06-30 6,210.00 3,198.00 1,756.00
  • Evonik Industries's level of debt (50%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (23.5% vs 50% today).
  • Debt is well covered by operating cash flow (43.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 10.3x coverage).
X
Financial health checks
We assess Evonik Industries'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. Evonik Industries has a total score of 3/6, 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 Evonik Industries'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
4.22%
Current annual income from Evonik Industries dividends. Estimated to be 4.4% next year.
If you bought €2,000 of Evonik Industries shares you are expected to receive €84 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?
  • Evonik Industries's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.44%).
  • Evonik Industries's dividend is below the markets top 25% of dividend payers in Austria (4.62%).
Upcoming dividend payment

Purchase Evonik Industries before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:EVK 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 14 Analyst Estimates (S&P Global) See Below
Europe Chemicals Industry Average Dividend Yield Market Cap Weighted Average of 78 Stocks 3%
Austria Market Average Dividend Yield Market Cap Weighted Average of 49 Stocks 3.4%
Austria Minimum Threshold Dividend Yield 10th Percentile 1.1%
Austria Bottom 25% Dividend Yield 25th Percentile 1.4%
Austria Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

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

WBAG:EVK Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.45 1.00
2022-12-31 1.35 1.00
2021-12-31 1.22 18.00
2020-12-31 1.19 22.00
2019-12-31 1.16 22.00
WBAG:EVK Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-01 1.150 4.504
2018-04-10 1.150 4.151
2017-03-02 1.150 3.839
2016-03-03 1.150 4.109
2015-03-04 1.000 3.136
2015-03-03 1.000 3.267
2014-03-07 1.000 3.631
2013-04-25 0.920 3.262

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

  • Whilst dividend payments have been stable, Evonik Industries has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Evonik Industries only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Evonik Industries's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
X
Income/ dividend checks
We assess Evonik Industries's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - 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 Evonik Industries afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Evonik Industries has a total score of 3/6, 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 Evonik Industries'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
Christian Kullmann
COMPENSATION €4,270,000
AGE 49
TENURE AS CEO 1.9 years
CEO Bio

Mr. Christian Kullmann has been Chairman of Executive Board ance Chief Executive Officer of Evonik Industries AG since May 23, 2017. Mr. Kullmann served as Deputy Chairman of Executive Board at Evonik Industries AG from May 6, 2016 to May 23, 2017 and its Member of Executive Board from July 1, 2014 to May 23, 2017. He serves as an Executive Vice President of Evonik. He has been a Member of Supervisory Board at Borussia Dortmund GmbH & Co. Kommanditgesellschaft auf Aktien since May 23, 2007. He served as Chief Strategic Officer at Evonik Industries AG since July 1, 2014 until May 12, 2016.

CEO Compensation
  • Christian's compensation has increased by more than 20% in the past year.
  • Insufficient data for Christian to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

Average tenure and age of the Evonik Industries management team in years:

4.2
Average Tenure
52.5
Average Age
  • The tenure for the Evonik Industries management team is about average.
Management Team

Christian Kullmann

TITLE
CEO & Chairman of the Executive Board
COMPENSATION
€4M
AGE
49
TENURE
1.9 yrs

Harald Schwager

TITLE
Deputy Chairman of the Executive Board
COMPENSATION
€4M
AGE
58
TENURE
1.6 yrs

Ute Wolf

TITLE
CFO & Member of Executive Board
COMPENSATION
€2M
AGE
50
TENURE
5.5 yrs

Thomas Wessel

TITLE
Chief Human Resource Officer
COMPENSATION
€3M
AGE
55
TENURE
7.6 yrs

Wilfried Ostendorf

TITLE
Head of Production and Technology

Tim Lange

TITLE
Head of Investor Relations

Thomas Mahlstedt

TITLE
Vice President M&A

Christian Schmid

TITLE
Head of Corporate Communications
AGE
47
TENURE
2.9 yrs

Matthias Creutz

TITLE
Head of Supply Chain Management & Production and Head of Controlling Resource Efficiency
TENURE
9.9 yrs

Gerard Berote

TITLE
Managing Director of Operations In Taiwan
AGE
63
Board of Directors Tenure

Average tenure and age of the Evonik Industries board of directors in years:

5.5
Average Tenure
65
Average Age
  • The tenure for the Evonik Industries board of directors is about average.
Board of Directors

Bernd Tönjes

TITLE
Chairman of the Supervisory Board
COMPENSATION
€265K
AGE
63
TENURE
0.9 yrs

Edeltraud Glänzer

TITLE
Deputy Chairwoman of Supervisory Board
COMPENSATION
€275K
AGE
63
TENURE
2.9 yrs

Werner Müller

TITLE
Honorary Chairman of Supervisory Board
COMPENSATION
€161K
AGE
72
TENURE
0.9 yrs

Siegfried Luther

TITLE
Member of Supervisory Board
COMPENSATION
€200K
AGE
74
TENURE
11.3 yrs

Michael Rudiger

TITLE
Member of Supervisory Board
COMPENSATION
€169K
AGE
54
TENURE
6.1 yrs

Karin Erhard

TITLE
Member of Supervisory Board
COMPENSATION
€169K
AGE
57
TENURE
6.4 yrs

Ulrich Weber

TITLE
Member of Supervisory Board
COMPENSATION
€155K
AGE
68
TENURE
2.9 yrs

Volker Trautz

TITLE
Member of Supervisory Board
COMPENSATION
€170K
AGE
73
TENURE
11.3 yrs

Barbara Grunewald

TITLE
Member of Supervisory Board
COMPENSATION
€160K
AGE
67
TENURE
6.1 yrs

Frank Löllgen

TITLE
Member of Supervisory Board
COMPENSATION
€164K
AGE
57
TENURE
4.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Evonik Industries'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. Evonik Industries 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

Evonik Industries AG engages in the specialty chemicals business worldwide. It operates through Nutrition & Care, Resource Efficiency, Performance Materials, and Services segments. The Nutrition & Care segment offers specialty chemicals, including amphoteric surfactants, ceramides, phytosphingosines, oleochemicals, quaternary derivatives, polyurethane additives, organically modified silicones, superabsorbents, amino acids and amino acid derivatives, synthesis products, pharmaceutical polymers, and DL-methionine for use in consumer goods, and animal nutrition and healthcare products. The Resource Efficiency segment provides high-performance materials and specialty additives, such as hydrogen peroxide, activated nickel catalysts, precious metal powder catalysts, oil and fat hydrogenation catalysts, amorphous polyalphaolefins, polybutadienes, polyester resins, thermoplastic and reactive methacrylate resins, organically modified silicones, isophorone chemistry, PEEK, polyamide 12, oil additives, organosilanes, chlorosilanes, fumed silicas, fumed metal oxides, precipitated silicas, and matting agents for the automotive, paints, coatings, adhesives, construction, and various other sectors. The Performance Materials segment produces polymer materials and intermediates, including butene-1, DINP, isononanol, cyanuric chloride, alkoxides, TAA and TAA derivatives, and methacrylate monomers and polymers for rubber, plastics, and agriculture industries. The Services segment provides site management, utilities and waste management, technical, process technology, engineering, and logistics services. The company is headquartered in Essen, Germany. Evonik Industries AG is a subsidiary of RAG-Stiftung.

Details
Name: Evonik Industries AG
EVK
Exchange: WBAG
Founded:
€12,652,835,202
465,691,395
Website: http://www.evonik.com
Address: Evonik Industries AG
Rellinghauser Strasse 1-11,
Essen,
North Rhine-Westphalia, 45128,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
DB EVK Ordinary Registered Shares Deutsche Boerse AG DE EUR 25. Apr 2013
OTCPK EVKI.F Ordinary Registered Shares Pink Sheets LLC US USD 25. Apr 2013
XTRA EVK Ordinary Registered Shares XETRA Trading Platform DE EUR 25. Apr 2013
LSE 0QDS Ordinary Registered Shares London Stock Exchange GB EUR 25. Apr 2013
SWX EVK Ordinary Registered Shares SIX Swiss Exchange CH CHF 25. Apr 2013
BIT EVK Ordinary Registered Shares Borsa Italiana IT EUR 25. Apr 2013
WBAG EVK Ordinary Registered Shares Wiener Boerse AG AT EUR 25. Apr 2013
BATS-CHIXE EVKD Ordinary Registered Shares BATS 'Chi-X Europe' GB EUR 25. Apr 2013
Number of employees
Current staff
Staff numbers
36,043
Evonik Industries employees.
Industry
Specialty Chemicals
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 22:09
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/18
Last earnings filing: 2019/03/01
Last earnings reported: 2018/12/31
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.