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Aliaxis

ENXTBR:094124352
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
094124352
ENXTBR
€1B
Market Cap
  1. Home
  2. BE
  3. Capital Goods
Company description

Aliaxis SA, together with its subsidiaries, manufactures and sells plastic pipe systems and related building and sanitary products for use in residential and commercial construction and renovation, and industrial and public utility applications. The last earnings update was 113 days ago. More info.


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094124352 Share Price and Events
7 Day Returns
0%
ENXTBR:094124352
1.4%
Europe Building
2.7%
BE Market
1 Year Returns
-5%
ENXTBR:094124352
5.8%
Europe Building
-5.8%
BE Market
094124352 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Aliaxis (094124352) 0% 0% 0% -5% -9.4% -
Europe Building 1.4% 1.6% 1.8% 5.8% 18.6% 46.6%
BE Market 2.7% 3.6% -0.9% -5.8% -10.7% 8.8%
1 Year Return vs Industry and Market
  • 094124352 underperformed the Building industry which returned 5.8% over the past year.
  • 094124352 matched the Belgium Market (-5.8%) over the past year.
Price Volatility
094124352
Industry
5yr Volatility vs Market
Related Companies

094124352 Value

 Is Aliaxis 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 Aliaxis 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 Aliaxis.

ENXTBR:094124352 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 11%
Perpetual Growth Rate 10-Year BE Government Bond Rate 0.8%

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 ENXTBR:094124352
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year BE Govt Bond Rate 0.8%
Equity Risk Premium S&P Global 6.8%
Building Unlevered Beta Simply Wall St/ S&P Global 1.13
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.131 (1 + (1- 29%) (78.12%))
1.508
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.51
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.77% + (1.508 * 6.8%)
11.02%

Discounted Cash Flow Calculation for ENXTBR:094124352 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Aliaxis 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.

ENXTBR:094124352 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 11.02%)
2020 147.82 Est @ -1.67% 133.14
2021 146.43 Est @ -0.94% 118.79
2022 145.80 Est @ -0.43% 106.54
2023 145.70 Est @ -0.07% 95.90
2024 145.97 Est @ 0.18% 86.54
2025 146.50 Est @ 0.36% 78.22
2026 147.20 Est @ 0.48% 70.80
2027 148.04 Est @ 0.57% 64.13
2028 148.97 Est @ 0.63% 58.13
2029 149.97 Est @ 0.67% 52.71
Present value of next 10 years cash flows €864.90
ENXTBR:094124352 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €149.97 × (1 + 0.77%) ÷ (11.02% – 0.77%)
€1,473.96
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,473.96 ÷ (1 + 11.02%)10
€518.02
ENXTBR:094124352 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €864.90 + €518.02
€1,382.92
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,382.92 / 78.74
€17.56
ENXTBR:094124352 Discount to Share Price
Calculation Result
Value per share (EUR) From above. €17.56
Current discount Discount to share price of €19.00
= -1 x (€19.00 - €17.56) / €17.56
-8.2%

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

  • The current share price of Aliaxis 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 Aliaxis's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Aliaxis's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTBR:094124352 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €1.74
ENXTBR:094124352 Share Price ** ENXTBR (2019-07-16) in EUR €19
Europe Building Industry PE Ratio Median Figure of 64 Publicly-Listed Building Companies 15.78x
Belgium Market PE Ratio Median Figure of 87 Publicly-Listed Companies 14.99x

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

** Primary Listing of Aliaxis.

ENXTBR:094124352 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTBR:094124352 Share Price ÷ EPS (both in EUR)

= 19 ÷ 1.74

10.91x

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

  • Aliaxis is good value based on earnings compared to the Europe Building industry average.
  • Aliaxis is good value based on earnings compared to the Belgium market.
Price based on expected Growth
Does Aliaxis's expected growth come at a high price?
Raw Data
ENXTBR:094124352 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.91x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
8.1%per year
Europe Building Industry PEG Ratio Median Figure of 34 Publicly-Listed Building Companies 1.5x
Belgium Market PEG Ratio Median Figure of 40 Publicly-Listed Companies 1.83x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Aliaxis, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Aliaxis's assets?
Raw Data
ENXTBR:094124352 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €15.89
ENXTBR:094124352 Share Price * ENXTBR (2019-07-16) in EUR €19
Europe Building Industry PB Ratio Median Figure of 78 Publicly-Listed Building Companies 1.49x
Belgium Market PB Ratio Median Figure of 119 Publicly-Listed Companies 1.55x
ENXTBR:094124352 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTBR:094124352 Share Price ÷ Book Value per Share (both in EUR)

= 19 ÷ 15.89

1.2x

* Primary Listing of Aliaxis.

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

  • Aliaxis is good value based on assets compared to the Europe Building industry average.
X
Value checks
We assess Aliaxis'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 Building 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 Building industry average (and greater than 0)? (1 check)
  5. Aliaxis has a total score of 3/6, 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.

094124352 Future Performance

 How is Aliaxis expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Aliaxis, future earnings growth has been estimated based on fundamentals.
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
8.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Aliaxis expected to grow at an attractive rate?
  • Aliaxis's earnings growth is expected to exceed the low risk savings rate of 0.8%.
Growth vs Market Checks
  • Aliaxis's earnings growth is expected to exceed the Belgium market average.
  • Unable to compare Aliaxis's revenue growth to the Belgium market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ENXTBR:094124352 Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTBR:094124352 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 8.1%
Europe Building Industry Earnings Growth Rate Market Cap Weighted Average 11.8%
Europe Building Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
Belgium Market Earnings Growth Rate Market Cap Weighted Average 8%
Belgium Market Revenue Growth Rate Market Cap Weighted Average 3.8%

*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
ENXTBR:094124352 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTBR:094124352 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 3,095 253 137
2018-09-30 3,081 138
2018-06-30 3,068 139
2018-03-31 3,081 141
2017-12-31 3,095 247 143
2017-09-30 3,067 130
2017-06-30 3,040 117
2017-03-31 2,995 109
2016-12-31 2,949 256 101
2016-09-30 2,978 127
2016-06-30 3,007 152
2016-03-31 3,027 156

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Aliaxis's earnings are expected to grow by 8.1% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Aliaxis is high growth as no revenue estimate data is available.
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
ENXTBR:094124352 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Aliaxis Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTBR:094124352 Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 1.74
2018-09-30 1.75
2018-06-30 1.77
2018-03-31 1.79
2017-12-31 1.82
2017-09-30 1.64
2017-06-30 1.47
2017-03-31 1.37
2016-12-31 1.26
2016-09-30 1.58
2016-06-30 1.90
2016-03-31 1.95

*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.
  • Unable to establish if Aliaxis will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Aliaxis'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.
Aliaxis 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.

094124352 Past Performance

  How has Aliaxis 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 Aliaxis's growth in the last year to its industry (Building).
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.
  • Aliaxis's year on year earnings growth rate has been positive over the past 5 years.
  • Aliaxis's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Aliaxis's 1-year earnings growth is negative, it can't be compared to the Europe Building industry average.
Earnings and Revenue History
Aliaxis'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 Aliaxis Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTBR:094124352 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 3,095.01 137.10 497.84 23.61
2018-09-30 3,081.29 138.06 493.20 23.22
2018-06-30 3,067.58 139.02 488.55 22.84
2018-03-31 3,081.13 141.12 488.55 22.84
2017-12-31 3,094.68 143.22 488.55 22.84
2017-09-30 3,067.49 129.93 484.72 24.87
2017-06-30 3,040.30 116.64 480.89 26.90
2017-03-31 2,994.85 108.94 480.89 26.90
2016-12-31 2,949.40 101.24 480.89 26.90
2016-09-30 2,978.21 126.63 473.73 26.27
2016-06-30 3,007.03 152.01 466.58 25.64
2016-03-31 3,026.78 155.96 466.58 25.64
2015-12-31 3,046.53 159.91 466.58 25.64
2015-09-30 3,009.53 141.10 445.63 24.15
2015-06-30 2,973.34 122.89 424.68 22.67
2015-03-31 2,833.49 111.74 424.68 22.67
2014-12-31 2,693.64 100.59 424.68 22.67
2014-09-30 2,593.22 102.08 417.65 23.01
2014-06-30 2,492.39 103.28 417.16 24.27
2014-03-31 2,499.89 105.78 417.16 24.27
2013-12-31 2,507.39 108.28 410.63 23.36
2013-09-30 2,477.19 115.40 407.97 23.71
2013-06-30 2,446.99 123.52 404.69 24.03
2013-03-31 2,411.99 120.52 404.69 24.03
2012-12-31 2,376.99 116.52 405.32 24.06
2012-09-30 2,347.23 98.34 398.75 22.69

*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.
  • Aliaxis has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Aliaxis used its assets less efficiently than the Europe Building industry average last year based on Return on Assets.
  • Aliaxis has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Aliaxis'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 Building 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.
Aliaxis 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.

094124352 Health

 How is Aliaxis'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 Aliaxis's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Aliaxis is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Aliaxis's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Aliaxis'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 1.2x 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 Aliaxis Company Filings, last reported 6 months ago.

ENXTBR:094124352 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,258.17 1,165.34 386.56
2018-09-30 1,258.17 1,165.34 386.56
2018-06-30 1,704.00 396.00
2018-03-31 1,704.00 396.00
2017-12-31 1,624.15 670.84 317.36
2017-09-30 1,624.15 670.84 317.36
2017-06-30 1,649.00 548.00
2017-03-31 1,649.00 548.00
2016-12-31 1,622.52 728.60 269.25
2016-09-30 1,622.52 728.60 269.25
2016-06-30 1,638.00 548.00
2016-03-31 1,638.00 548.00
2015-12-31 1,573.37 702.34 185.36
2015-09-30 1,573.37 702.34 185.36
2015-06-30 1,580.00 703.00
2015-03-31 1,580.00 703.00
2014-12-31 1,439.25 744.71 110.21
2014-09-30 1,439.25 744.71 110.21
2014-06-30 1,382.00 471.00
2014-03-31 1,382.00 471.00
2013-12-31 1,317.26 444.32 75.04
2013-09-30 1,317.26 444.32 75.04
2013-06-30 1,345.00 507.00
2013-03-31 1,345.00 507.00
2012-12-31 1,377.61 400.00 102.07
2012-09-30 1,410.65 410.71 102.07
  • Aliaxis's level of debt (92.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (34.1% vs 92.9% today).
  • Debt is well covered by operating cash flow (21.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 14.2x coverage).
X
Financial health checks
We assess Aliaxis'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. Aliaxis has a total score of 4/6, 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.

094124352 Dividends

 What is Aliaxis'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
3.09%
Current annual income from Aliaxis dividends.
If you bought €2,000 of Aliaxis shares you are expected to receive €62 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?
  • Aliaxis's pays a higher dividend yield than the bottom 25% of dividend payers in Belgium (2.34%).
  • Aliaxis's dividend is below the markets top 25% of dividend payers in Belgium (4.63%).
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
ENXTBR:094124352 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 0 Analyst Estimates (S&P Global) See Below
Europe Building Industry Average Dividend Yield Market Cap Weighted Average of 53 Stocks 2.3%
Belgium Market Average Dividend Yield Market Cap Weighted Average of 77 Stocks 3.5%
Belgium Minimum Threshold Dividend Yield 10th Percentile 1.2%
Belgium Bottom 25% Dividend Yield 25th Percentile 2.3%
Belgium 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.

ENXTBR:094124352 Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-04-02 0.587 3.033
2018-03-27 0.534 2.700
2017-04-11 0.485 2.326
2017-03-28 0.485 2.261
2016-04-05 0.440 2.134
2016-03-29 0.440 2.378

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

  • Whilst dividend payments have been stable, Aliaxis has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Aliaxis only paid a dividend in the past 3 years.
Current Payout to shareholders
What portion of Aliaxis's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Aliaxis's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - 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 Aliaxis afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Aliaxis has a total score of 2/6, see the detailed checks below.


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

094124352 Management

 What is the CEO of Aliaxis'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
Laurent Lenoir
AGE 53
TENURE AS CEO 4.1 years
CEO Bio

Mr. Laurent Lenoir has been the Chief Executive Officer of Aliaxis S.A./N.V. since June 1, 2015. Mr. Lenoir served as the Chief Executive Officer of Taminco BVBA since January 1, 2010 and Taminco Corporation since January 1, 2010. From 2007 to December 31, 2009, he served as Group Vice-President of Methylamines & Derivatives and Regional President of Asia at Taminco BVBA. He started his career with Taminco in 1991 as Technical & Sales Manager Agrochemicals before holding various positions in Belgium within the Crop Protection business unit. Since 2000, he served as Business Manager of Methylamines & Derivatives Asia.He has been Director at Aliaxis SA since May 27,2015. Following the spin off of Taminco from UCB in 2003, he served as Director of Asia & Global and Director of Feed Additives and served as an Integration Officer relating to the Air Products acquisition in Allentown, Pennsylvania, United States from 2006 to 2007. He has been a Director of Taminco Corporation since February 2012. He serves as a Director of Taminco BVBA. Mr. Lenoir graduated in France with a degree in Life Sciences Engineering from École Nationale Supérieure d'Agronomie de Montpellier.

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

Laurent Lenoir

TITLE
CEO & Director
AGE
53
TENURE
4.1 yrs

Koen Sticker

TITLE
Chief Financial Officer

Juha Raïsänen

TITLE
Chief Operations & Supply Chain Officer

Patricia De Lanlay

TITLE
Chief Information Officer

Manuel Monard

TITLE
Chief Legal & Insurance Officer

Ursula Saint-Léger

TITLE
Chief HR & Communications Officer
AGE
55

Lars Boetje

TITLE
Chief Strategy

Tom Van Gyseghem

TITLE
Chief Growth Officer

André Jordens

TITLE
Head of Global Strategic Procurement

Howard Oakes

TITLE
Global Head of Health & Safety
Board of Directors Tenure

Average tenure of the Aliaxis board of directors in years:

5.2
Average Tenure
  • The tenure for the Aliaxis board of directors is about average.
Board of Directors

Olivier van der Rest

TITLE
Chairman
TENURE
9.2 yrs

Laurent Lenoir

TITLE
CEO & Director
AGE
53
TENURE
4.2 yrs

Jean-Louis Piérard

TITLE
Honorary Chairman

Kieran Murphy

TITLE
Director
AGE
60
TENURE
16.1 yrs

Olivier Hamoir

TITLE
Director

Andréa Hatschek

TITLE
Director
TENURE
16.1 yrs

Hélène van Zeebroeck

TITLE
Director

George Esquivel

TITLE
Director
TENURE
5.2 yrs

Marc de Brauwere

TITLE
Director
TENURE
4.2 yrs

Amaury de Bigard

TITLE
Director
TENURE
4.2 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 Aliaxis'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. Aliaxis 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.

094124352 News

Simply Wall St News

Does Aliaxis SA's (EBR:094124352) -4.3% Earnings Drop Reflect A Longer Term Trend?

Investors with a long-term horizong may find it valuable to assess Aliaxis SA's (EBR:094124352) earnings trend over time and against its industry benchmark as opposed to simply looking at a sincle earnings announcement at one point in time. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 5.0%, indicating the rate at which 094124352 is growing has slowed down. … I suggest you continue to research Aliaxis to get a better picture of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for 094124352’s future growth?

Simply Wall St -

A Look At The Intrinsic Value Of Aliaxis SA (EBR:094124352)

Using the most recent financial data, we'll take a look at whether the stock is fairly priced by estimating the company's future cash flows and discounting them to their present value. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we need to discount the sum of these future cash flows to arrive at a present value estimate: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (€, Millions) €147.82 €146.43 €145.80 €145.70 €145.97 €146.50 €147.20 €148.04 €148.97 €149.97 Growth Rate Estimate Source Est @ -1.67% Est @ -0.94% Est @ -0.43% Est @ -0.07% Est @ 0.18% Est @ 0.36% Est @ 0.48% Est @ 0.57% Est @ 0.63% Est @ 0.67% Present Value (€, Millions) Discounted @ 10.89% €133.30 €119.09 €106.94 €96.37 €87.07 €78.80 €71.41 €64.77 €58.78 €53.36 Present Value of 10-year Cash Flow (PVCF)= €869.89m "Est" = FCF growth rate estimated by Simply Wall St We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = €150m × (1 + 0.8%) ÷ (10.9% – 0.8%) = €1.5b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = €€1.5b ÷ ( 1 + 10.9%)10 = €531.52m The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is €1.40b.

Simply Wall St -

Did You Manage To Avoid Aliaxis's (EBR:094124352) 13% Share Price Drop?

Unfortunately the Aliaxis SA (EBR:094124352) share price slid 13% over twelve months. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … We've already covered Aliaxis's share price action, but we should also mention its total shareholder return (TSR).

Simply Wall St -

Here's What You Should Know About Aliaxis SA's (EBR:094124352) 2.9% Dividend Yield

Today we'll take a closer look at Aliaxis SA (EBR:094124352) from a dividend investor's perspective. Owning a strong business and reinvesting the dividends is widely seen as an attractive way of growing your wealth. Yet sometimes, investors buy a popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. With only a three-year payment history, and a 2.9% yield, investors probably think Aliaxis is not much of a dividend stock. While it may not look like much, if earnings are growing it could become quite interesting. Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1. … Conclusion To summarise, shareholders should always check that Aliaxis's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend. … Overall we think Aliaxis is an interesting dividend stock, although it could be better.

Simply Wall St -

Is Aliaxis SA's (EBR:094124352) P/E Ratio Really That Good?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … That is equivalent to an earnings yield of about 9.2%. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Where Aliaxis SA's (EBR:094124352) Earnings Growth Stands Against Its Industry

Today I will assess 094124352's recent performance announced on 31 December 2018 and evaluate these figures to its longer term trend and industry movements. … How Did 094124352's Recent Performance Stack Up Against Its Past. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 5.0%, indicating the rate at which 094124352 is growing has slowed down

Simply Wall St -

A Close Look At Aliaxis SA’s (EBR:094124352) 17% ROCE

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Understanding Return On Capital Employed (ROCE). … ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business.

Simply Wall St -

Is Aliaxis SA (EBR:094124352) A Good Dividend Stock?

A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. … In the last few years Aliaxis SA (EBR:094124352) has paid a dividend to shareholders. … Let's dig deeper into whether Aliaxis should have a place in your portfolio.

Simply Wall St -

Do You Know What Aliaxis SA's (EBR:094124352) P/E Ratio Means?

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … Aliaxis has a price to earnings ratio of 10.69, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

094124352 Company Info

Description

Aliaxis SA, together with its subsidiaries, manufactures and sells plastic pipe systems and related building and sanitary products for use in residential and commercial construction and renovation, and industrial and public utility applications. The company offers water transmission pipes and piping systems for underground water transmission, distribution networks, irrigation solutions, etc.; and sanitary solutions primarily for hot and cold water systems, waste traps and outlets, showers, and floor drainage systems. It also provides heavy-duty channel drains, infiltration, and attenuation units, as well as other storm water management systems for the collection, transport, and management of wastewater and rainwater; and surface drainage channels, pipes, fittings, and manholes; and fascia and soffits for residential buildings and siphonic roof drainage solutions. In addition, the company offers polyethylene fittings, pipes, valves, and connectors for inert gas handling and natural gas distribution, and flue gas venting; and management systems that protect buried, encased, concealed, or exposed power and data wiring, as well as conduits for electrical and telecommunication networks. Further, it provides industrial pipes, valves, and fittings to handle acids and bases in their environments; and piping and pressure systems for handling fluids and compressed air distribution. The company operates in the Americas, the Asia-Pacific, Europe, the Middle-East, and Africa. Aliaxis SA was founded in 1980 and is headquartered in Brussels, Belgium.

Details
Name: Aliaxis SA
094124352
Exchange: ENXTBR
Founded: 1980
€1,496,058,119
78,739,901
Website: http://www.aliaxis.com
Address: Aliaxis SA
Avenue Arnaud Fraiteur, 15/23,
Brussels,
Brussels, 1050,
Belgium
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTBR 094124352 Ordinary Shares Euronext Brussels BE EUR 25. Jun 2015
Number of employees
Current staff
Staff numbers
16,100
Aliaxis employees.
Industry
Building Products
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/20 20:35
End of day share price update: 2019/07/16 00:00
Last earnings filing: 2019/03/29
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.