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Solvay

WBAG:SOLB
Snowflake Description

Excellent balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SOLB
WBAG
€11B
Market Cap
  1. Home
  2. AT
  3. Materials
Company description

Solvay SA operates as an advanced materials and specialty chemicals worldwide. The last earnings update was 15 days ago. More info.


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SOLB Share Price and Events
7 Day Returns
4.5%
WBAG:SOLB
2.9%
Europe Chemicals
3.4%
AT Market
1 Year Returns
-4.7%
WBAG:SOLB
-1.6%
Europe Chemicals
-2%
AT Market
SOLB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Solvay (SOLB) 4.5% 7.3% 14.6% -4.7% - -
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
  • SOLB underperformed the Chemicals industry which returned -1.6% over the past year.
  • SOLB underperformed the Market in Austria which returned -2% over the past year.
Price Volatility
SOLB
Industry
5yr Volatility vs Market

SOLB Value

 Is Solvay 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 Solvay 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 Solvay.

WBAG:SOLB 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 8%
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:SOLB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6.8%
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- 29%) (33.5%))
1.102
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (1.102 * 6.8%)
8.01%

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

The calculations below outline how an intrinsic value for Solvay 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:SOLB DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 8.01%)
2019 794.94 Analyst x8 736.01
2020 836.89 Analyst x10 717.41
2021 836.13 Analyst x6 663.62
2022 836.88 Est @ 0.09% 614.98
2023 838.69 Est @ 0.22% 570.61
2024 841.24 Est @ 0.3% 529.92
2025 844.32 Est @ 0.37% 492.43
2026 847.77 Est @ 0.41% 457.79
2027 851.49 Est @ 0.44% 425.71
2028 855.42 Est @ 0.46% 395.97
Present value of next 10 years cash flows €5,604.45
WBAG:SOLB DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €855.42 × (1 + 0.51%) ÷ (8.01% – 0.51%)
€11,468.43
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €11,468.43 ÷ (1 + 8.01%)10
€5,308.70
WBAG:SOLB Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €5,604.45 + €5,308.70
€10,913.15
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €10,913.15 / 103.15
€105.8
WBAG:SOLB Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in WBAG:SOLB represents 0.99546x of ENXTBR:SOLB
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99546x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 105.80 x 0.99546
€105.31
Value per share (EUR) From above. €105.31
Current discount Discount to share price of €109.75
= -1 x (€109.75 - €105.31) / €105.31
-4.2%

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

  • The current share price of Solvay 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 Solvay's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Solvay's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:SOLB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €6.36
ENXTBR:SOLB Share Price ** ENXTBR (2019-04-18) in EUR €110.25
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 Solvay.

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

= ENXTBR:SOLB Share Price ÷ EPS (both in EUR)

= 110.25 ÷ 6.36

17.33x

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

  • Solvay is good value based on earnings compared to the Europe Chemicals industry average.
  • Solvay is overvalued based on earnings compared to the Austria market.
Price based on expected Growth
Does Solvay's expected growth come at a high price?
Raw Data
WBAG:SOLB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.33x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
11.9%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:SOLB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.33x ÷ 11.9%

1.45x

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

  • Solvay is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Solvay's assets?
Raw Data
WBAG:SOLB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €101.87
ENXTBR:SOLB Share Price * ENXTBR (2019-04-18) in EUR €110.25
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:SOLB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTBR:SOLB Share Price ÷ Book Value per Share (both in EUR)

= 110.25 ÷ 101.87

1.08x

* Primary Listing of Solvay.

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

  • Solvay is good value based on assets compared to the Europe Chemicals industry average.
X
Value checks
We assess Solvay'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. Solvay 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.

SOLB Future Performance

 How is Solvay 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
11.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Solvay expected to grow at an attractive rate?
  • Solvay's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Solvay's earnings growth is expected to exceed the Austria market average.
  • Solvay's revenue growth is positive but not above the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:SOLB Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:SOLB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 11.9%
WBAG:SOLB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 0.5%
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:SOLB 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:SOLB Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 11,673 2
2022-12-31 11,325 2
2021-12-31 11,210 1,781 977 6
2020-12-31 10,931 1,649 847 11
2019-12-31 10,597 1,642 820 12
WBAG:SOLB Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 11,299 1,720 657
2018-09-30 11,094 1,596 761
2018-06-30 10,894 1,637 734
2018-03-31 10,860 1,663 730
2017-12-31 10,984 1,590 820
2017-09-30 10,851 1,602 771
2017-06-30 10,694 1,718 765
2017-03-31 10,057 1,800 717
2016-12-31 10,044 1,788 539
2016-09-30 9,168 1,694 317
2016-06-30 9,512 1,572 248
2016-03-31 10,146 1,626 220

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Solvay's earnings are expected to grow by 11.9% yearly, however this is not considered high growth (20% yearly).
  • Solvay's revenue is expected to grow by 0.5% 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:SOLB 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 Solvay Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:SOLB Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 9.39 12.60 7.05 9.00
2020-12-31 8.38 9.81 7.24 10.00
2019-12-31 7.88 8.87 6.91 11.00
WBAG:SOLB Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 6.36
2018-09-30 7.36
2018-06-30 7.10
2018-03-31 7.06
2017-12-31 7.93
2017-09-30 7.45
2017-06-30 7.40
2017-03-31 6.89
2016-12-31 5.22
2016-09-30 3.21
2016-06-30 2.65
2016-03-31 2.50

*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.
  • Solvay is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Solvay'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.
Solvay has a total score of 2/6, 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.

SOLB Past Performance

  How has Solvay 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 Solvay'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.
  • Solvay has delivered over 20% year on year earnings growth in the past 5 years.
  • Solvay's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Solvay's 1-year earnings growth is negative, it can't be compared to the Europe Chemicals industry average.
Earnings and Revenue History
Solvay'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 Solvay Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:SOLB 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 11,299.00 657.00 1,379.00 297.00
2018-09-30 11,094.00 761.00 1,396.00 298.00
2018-06-30 10,894.00 734.00 1,395.00 288.00
2018-03-31 10,860.00 730.00 1,411.00 288.00
2017-12-31 10,984.00 820.00 1,437.00 290.00
2017-09-30 10,851.00 771.00 1,416.00 283.00
2017-06-30 10,694.00 765.00 1,409.00 285.00
2017-03-31 10,057.00 717.00 1,359.00 279.00
2016-12-31 10,044.00 539.00 1,363.00 284.00
2016-09-30 9,168.00 317.00 1,320.00 277.00
2016-06-30 9,512.00 248.00 1,315.00 276.00
2016-03-31 10,146.00 220.00 1,337.00 281.00
2015-12-31 10,083.00 355.00 1,296.00 271.00
2015-09-30 11,068.00 325.00 1,321.00 270.00
2015-06-30 10,929.00 311.00 1,297.00 265.00
2015-03-31 10,793.00 376.00 1,254.00 257.00
2014-12-31 10,629.00 326.00 1,225.00 247.00
2014-09-30 10,425.00 317.00 1,193.00 238.00
2014-06-30 10,222.00 298.00 1,182.00 237.00
2014-03-31 10,086.00 182.00 1,166.00 240.00
2013-12-31 10,150.00 164.00 1,189.00 238.00
2013-09-30 10,331.00 348.00 1,175.00 243.00
2013-06-30 10,598.00 395.00 1,140.00 244.00
2013-03-31 10,376.00 557.00 1,114.00 239.00
2012-12-31 10,910.00 562.00 1,076.00 247.00
2012-09-30 10,783.00 366.00 1,057.00 245.00
2012-06-30 9,663.00 313.00 925.00 214.00

*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.
  • Solvay has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Solvay used its assets less efficiently than the Europe Chemicals industry average last year based on Return on Assets.
  • Solvay has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Solvay'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.
Solvay has a total score of 2/6, 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.

SOLB Health

 How is Solvay'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 Solvay's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Solvay is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Solvay's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Solvay'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 1.7x 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 Solvay Company Filings, last reported 3 months ago.

WBAG:SOLB Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 10,625.00 3,810.00 1,365.00
2018-09-30 10,442.00 4,700.00 1,218.00
2018-06-30 10,027.00 4,629.00 1,036.00
2018-03-31 9,720.00 4,188.00 990.00
2017-12-31 9,752.00 4,226.00 1,230.00
2017-09-30 9,840.00 5,194.00 1,358.00
2017-06-30 9,838.00 5,332.00 1,156.00
2017-03-31 10,185.00 5,361.00 1,094.00
2016-12-31 9,956.00 5,425.00 1,246.00
2016-09-30 9,198.00 5,481.00 1,060.00
2016-06-30 9,209.00 6,016.00 1,080.00
2016-03-31 9,271.00 6,272.00 1,555.00
2015-12-31 9,668.00 6,520.00 2,182.00
2015-09-30 7,228.00 2,694.00 1,221.00
2015-06-30 7,336.00 2,647.00 1,039.00
2015-03-31 7,503.00 2,699.00 1,282.00
2014-12-31 6,778.00 2,339.00 1,612.00
2014-09-30 7,025.00 2,592.00 928.00
2014-06-30 6,884.00 2,768.00 1,124.00
2014-03-31 7,455.00 3,133.00 1,673.00
2013-12-31 7,453.00 3,584.00 2,495.00
2013-09-30 6,588.00 3,557.00 1,207.00
2013-06-30 6,568.00 3,620.00 1,204.00
2013-03-31 6,794.00 3,716.00 2,403.00
2012-12-31 6,573.00 3,652.00 2,526.00
2012-09-30 6,749.00 4,007.00 2,477.00
2012-06-30 6,667.00 3,967.00 2,152.00
  • Solvay's level of debt (35.9%) 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 (48% vs 35.9% today).
  • Debt is well covered by operating cash flow (45.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 10.8x coverage).
X
Financial health checks
We assess Solvay'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. Solvay has a total score of 5/6, 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.

SOLB Dividends

 What is Solvay'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
3.4%
Current annual income from Solvay dividends. Estimated to be 3.6% next year.
If you bought €2,000 of Solvay shares you are expected to receive €68 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?
  • Solvay's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.44%).
  • Solvay's dividend is below the markets top 25% of dividend payers in Austria (4.62%).
Upcoming dividend payment

Purchase Solvay 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:SOLB 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:SOLB Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 4.19 14.00
2020-12-31 3.95 18.00
2019-12-31 3.82 19.00
WBAG:SOLB Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-27 3.750 3.713
2018-11-08 3.660 3.883
2018-05-08 3.600 3.237
2017-11-08 3.510 3.031
2017-05-09 3.450 2.812
2016-05-10 3.300 3.264
2015-02-26 3.400 3.306
2014-05-14 3.200 2.742
2013-03-26 3.200 2.917
2013-02-15 3.200 2.897
2013-02-14 3.200 2.801
2012-12-17 4.530 4.028
2012-10-25 2.400 2.440
2012-02-16 3.067 3.535
2011-10-27 2.300 3.337
2011-02-17 3.067 3.463
2010-02-18 2.933 3.905
2010-02-17 2.933 4.017
2009-10-29 2.200 3.046
2009-04-20 2.933 4.408

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Solvay'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 well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess Solvay'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 Solvay afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Solvay 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.

SOLB Management

 What is the CEO of Solvay'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
Ilham Kadri
AGE 49
TENURE AS CEO 0.1 years
CEO Bio

Dr. Ilham Kadri has been Chief Executive Officer and Director at Solvay SA since March 1, 2019. Dr. Kadri was an Executive Officer of Solvay SA since January 1, 2019 until March 1, 2019. Dr. Kadri served as the Chief Executive Officer and President of Diversey, Inc. since September 2017 until December 31, 2018. Dr. Kadri served as Senior Vice President and President of Diversey Care Business at Sealed Air Corporation since 2013 until September 6, 2017 and also served as its President of The Institutional and Laundry Business Unit since January 1, 2013 and Vice President since 2013 until 2017. She joined Sealed Air in January 2013. Dr. Kadri was with Dow Chemical Company since 2007 until 2012, where she was the General Manager of the Dow Advanced Materials Division, and the commercial director for Dow Water & Process Solutions, following its acquisition of Rohm and Haas, where she served as a Marketing Director for the Construction, Coatings and Industrial Division. Dr. Kadri started her career with Royal Dutch Shell PLC in the Netherlands and has held positions of increasing financial and global responsibility with public and private companies. In her 20 years of experience, she has held a variety of global roles in business leadership, strategic planning, sales, marketing, product management, mergers and acquisitions and R&D, in public and private companies such as Shell-Basell, UCB-Cytec, Huntsman and Rohm Haas-Dow. She served as the General Manager of the Dow Advanced Materials Division for the Middle East & Africa and Region's Commercial Director for Dow Water & Process Solutions, Inc. from January 2010 to December 2012. She has been a Director at A. O. Smith Corporation since December 12, 2016. She is committed to mentoring young women and promoting female leadership in the science, engineering and business fields. She is an Advisory Board member at Catalyst, the leading non-profit organization dedicated to diversity and inclusion. She is the founder and first Chairwoman of The ISSA Hygieia™ Network. She has been recognized and awarded throughout her career for her commitment to mentoring young women and fighting female illiteracy. Dr. Kadri is a Chemical Engineer and has a Master's Degree in Physics and Chemistry and a Doctorate in Reactive Extrusion from the University of Strasbourg, France.

CEO Compensation
  • Insufficient data for Ilham to compare compensation growth.
  • Insufficient data for Ilham to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

Average tenure and age of the Solvay management team in years:

2.3
Average Tenure
54
Average Age
  • The tenure for the Solvay management team is about average.
Management Team

Karim Hajjar

TITLE
CFO & Member of the Executive Committee
AGE
55
TENURE
5.5 yrs

Vincent Paul Jean De Cuyper

TITLE
Member of Executive Committee
AGE
57
TENURE
13.3 yrs

Pascal Juéry

TITLE
President of Solvay Essential Chemicals & Member of the Executive Committee
AGE
53
TENURE
5.3 yrs

Ilham Kadri

TITLE
Chairman of the Executive Committee
AGE
49
TENURE
0.1 yrs

Cécile de Marsac

TITLE
Group GM of Human Resources & Member of the Executive Committee
AGE
55
TENURE
1.3 yrs

Augusto Di Donfrancesco

TITLE
President of Specialty Polymers & Member of the Executive Committee
AGE
59
TENURE
1.2 yrs

Hua Du

TITLE
President of the GBU Special Chem & Member of the Executive Committee
AGE
49
TENURE
1.2 yrs

Geoffroy Raskin

TITLE
Head of Investor Relations

Quitterie De Pelleport

TITLE
Head of Legal & Compliance and Group General Counsel
AGE
41
TENURE
2.3 yrs

Canet-Teil Cecile

TITLE
Group General Manager of Communications
TENURE
3.2 yrs
Board of Directors Tenure

Average tenure and age of the Solvay board of directors in years:

9.3
Average Tenure
61.5
Average Age
  • The tenure for the Solvay board of directors is about average.
Board of Directors

Nicolas Boël

TITLE
Chairman
COMPENSATION
€313K
AGE
56
TENURE
6.9 yrs

Ilham Kadri

TITLE
Chairman of the Executive Committee
AGE
49
TENURE
0.1 yrs

Yves-Thibault de Silguy

TITLE
Independent Director
AGE
70
TENURE
9.3 yrs

Rosemary Thorne

TITLE
Independent Director
AGE
66
TENURE
4.9 yrs

Bernard de Laguiche

TITLE
Non-Executive Director
AGE
59
TENURE
13.3 yrs

Jean-Marie Solvay de la Hulpe

TITLE
Non-Independent Director
AGE
62
TENURE
28.3 yrs

Charles Casimir-Lambert

TITLE
Independent Director
AGE
51
TENURE
11.9 yrs

Hervé d'Eeckenbrugge

TITLE
Independent Director
AGE
61
TENURE
10.3 yrs

Evelyn du Monceau

TITLE
Independent Director
AGE
68
TENURE
9.3 yrs

Françoise de Viron

TITLE
Independent Director
AGE
63
TENURE
5.8 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 Solvay'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. Solvay 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.

SOLB News

Simply Wall St News

SOLB Company Info

Description

Solvay SA operates as an advanced materials and specialty chemicals worldwide. It operates through for segments: Advanced Materials, Advanced Formulations, Performance Chemicals, and Corporate & Business Services. The Advanced Materials segment offers specialty polymers, including aromatic polymers, high barrier polymers, and fluoropolymers for the electronics, automotive, aircraft, and healthcare industries; and composite materials for civil and military aircraft manufacturers, as well as various industrial markets. It also provides special chemicals, such as fluor and rare-earth formulations for automotive, semi-conductor, and lighting applications; and dispersible silica used primarily in various tires. The Advanced Formulations segments develops and produces formulations that alter the properties of liquids for the oil and gas industry; and offers specialty solutions for various industrial applications, and the agricultural and coatings markets. It also provides specialty mining reagents, phosphine-based chemistry, and solutions for stabilization of polymers; and produces vanillin for the flavors and fragrances industries, as well as synthetic intermediates used in pharmaceuticals, agrochemicals, and electronics. The Performance Chemicals segment produces and sells soda ash and sodium bicarbonate primarily to the flat and container glass industries, as well as for use in detergents, agro, and food industries; hydrogen peroxide for use primarily in the paper industry to bleach pulp, as well as chemicals, food, textiles, and environment; and glycerin-based solvent solutions and specialty phenols for use in the production of synthetic resins employed in foundries, construction, and abrasives. The Corporate & Business Service segment sells self-generated secondary energy to third parties, as well as provides energy and business services. The company was founded in 1863 and is headquartered in Brussels, Belgium.

Details
Name: Solvay SA
SOLB
Exchange: WBAG
Founded: 1863
€11,372,690,463
103,153,655
Website: http://www.solvay.com
Address: Solvay SA
Rue de Ransbeek, 310,
Brussels,
Brussels, 1120,
Belgium
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTBR SOLB Ordinary Shares Euronext Brussels BE EUR 02. Jan 1992
OTCPK SVYS.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB SOL Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0NZR Ordinary Shares London Stock Exchange GB EUR 02. Jan 1992
WBAG SOLB Ordinary Shares Wiener Boerse AG AT EUR 02. Jan 1992
BATS-CHIXE SOLBB Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
OTCPK SOLV.Y SPONSORED ADR Pink Sheets LLC US USD 24. Aug 2010
Number of employees
Current staff
Staff numbers
24,197
Solvay employees.
Industry
Diversified Chemicals
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 22:36
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/18
Last earnings filing: 2019/04/03
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.