ENXTBR:094124352

Stock Analysis Report

Executive Summary

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.

Rewards

Trading at 26.9% below its fair value

Earnings grew by 17.8% over the past year

Risk Analysis

Has a high level of debt

Unstable dividend track record



Snowflake Analysis

Undervalued with solid track record.

Share Price & News

How has Aliaxis's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 094124352 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-4.7%

94124352

1.3%

BE Building

0.6%

BE Market


1 Year Return

-14.7%

94124352

31.6%

BE Building

14.6%

BE Market

Return vs Industry: 094124352 underperformed the Belgian Building industry which returned 31.6% over the past year.

Return vs Market: 094124352 underperformed the Belgian Market which returned 14.6% over the past year.


Shareholder returns

94124352IndustryMarket
7 Day-4.7%1.3%0.6%
30 Day-4.7%2.9%0.2%
90 Day-10.0%10.6%-3.5%
1 Year-12.9%-14.7%34.9%31.6%16.9%14.6%
3 Year-18.5%-22.9%30.5%21.5%0.02%-6.6%
5 Yearn/a82.3%60.9%21.0%6.8%

Price Volatility Vs. Market

How volatile is Aliaxis's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Aliaxis undervalued compared to its fair value and its price relative to the market?

26.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 094124352 (€16.2) is trading below our estimate of fair value (€22.17)

Significantly Below Fair Value: 094124352 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 094124352 is good value based on its PE Ratio (7.8x) compared to the Building industry average (19.2x).

PE vs Market: 094124352 is good value based on its PE Ratio (7.8x) compared to the Belgian market (16.8x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 094124352's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 094124352 is good value based on its PB Ratio (0.9x) compared to the XE Building industry average (1.8x).


Next Steps

Future Growth

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

9.6%

Forecasted Capital Goods industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Aliaxis has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Aliaxis performed over the past 5 years?

5.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 094124352 has high quality earnings.

Growing Profit Margin: 094124352's current net profit margins (5.3%) are higher than last year (4.5%).


Past Earnings Growth Analysis

Earnings Trend: 094124352's earnings have grown by 5.5% per year over the past 5 years.

Accelerating Growth: 094124352's earnings growth over the past year (17.8%) exceeds its 5-year average (5.5% per year).

Earnings vs Industry: 094124352 earnings growth over the past year (17.8%) exceeded the Building industry 6.1%.


Return on Equity

High ROE: 094124352's Return on Equity (11.6%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Aliaxis's financial position?


Financial Position Analysis

Short Term Liabilities: 094124352's short term assets (€624.0M) exceed its short term liabilities (€569.9M).

Long Term Liabilities: 094124352's short term assets (€624.0M) exceed its long term liabilities (€508.9M).


Debt to Equity History and Analysis

Debt Level: 094124352's debt to equity ratio (60.3%) is considered high.

Reducing Debt: 094124352's debt to equity ratio has increased from 34% to 60.3% over the past 5 years.

Debt Coverage: 094124352's debt is well covered by operating cash flow (29.7%).

Interest Coverage: 094124352's interest payments on its debt are well covered by EBIT (27x coverage).


Balance Sheet

Inventory Level: 094124352 has a high level of physical assets or inventory.

Debt Coverage by Assets: 094124352's debt is not covered by short term assets (assets are 0.7x debt).


Next Steps

Dividend

What is Aliaxis's current dividend yield, its reliability and sustainability?

3.62%

Current Dividend Yield


Dividend Yield vs Market

company3.6%marketbottom25%2.1%markettop25%4.5%industryaverage2.1%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: 094124352's dividend (3.62%) is higher than the bottom 25% of dividend payers in the Belgian market (2.12%).

High Dividend: 094124352's dividend (3.62%) is low compared to the top 25% of dividend payers in the Belgian market (4.49%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, 094124352 has been paying a dividend for less than 10 years.

Growing Dividend: 094124352's dividend payments have increased, but the company has only paid a dividend for 4 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (28.2%), 094124352's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

5.6yrs

Average board tenure


CEO

Laurent Lenoir (53yo)

4.5yrs

Tenure

0

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 Corporati ...


Board Age and Tenure

5.6yrs

Average Tenure

Experienced Board: 094124352's board of directors are considered experienced (5.6 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Ursula Saint-Léger (55yo)

    Chief HR & Communications Officer

    • Tenure: 0yrs
  • Laurent Lenoir (53yo)

    CEO & Director

    • Tenure: 4.5yrs
  • Koen Sticker

    Chief Financial Officer

    • Tenure: 0yrs
  • Lars Boetje

    Chief Strategy

    • Tenure: 0yrs
  • Tom Van Gyseghem

    Chief Growth Officer

    • Tenure: 0yrs
  • Manuel Monard

    Chief Legal & Insurance Officer

    • Tenure: 0yrs
  • Patricia De Lanlay

    Chief Information Officer

    • Tenure: 0yrs
  • André Jordens

    Head of Global Strategic Procurement

    • Tenure: 0yrs
  • Juha Raïsänen

    Chief Operations & Supply Chain Officer

    • Tenure: 0yrs
  • Howard Oakes

    Global Head of Health & Safety

    • Tenure: 0yrs

Board Members

  • Kieran Murphy (60yo)

    Director

    • Tenure: 16.5yrs
  • Jean-Louis Piérard

    Honorary Chairman

    • Tenure: 0yrs
  • Andréa Hatschek

    Director

    • Tenure: 16.5yrs
  • Olivier van der Rest

    Chairman

    • Tenure: 9.6yrs
  • Marc de Brauwere

    Director

    • Tenure: 4.6yrs
  • Laurent Lenoir (53yo)

    CEO & Director

    • Tenure: 4.5yrs
  • Hélène van Zeebroeck

    Director

    • Tenure: 0yrs
  • Amaury de Bigard

    Director

    • Tenure: 4.6yrs
  • George Esquivel

    Director

    • Tenure: 5.6yrs
  • Olivier Hamoir

    Director

    • Tenure: 0yrs

Company Information

Aliaxis SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Aliaxis SA
  • Ticker: 94124352
  • Exchange: ENXTBR
  • Founded: 1980
  • Industry: Building Products
  • Sector: Capital Goods
  • Market Cap: €1.276b
  • Shares outstanding: 78.74m
  • Website: https://www.aliaxis.com

Number of Employees


Location

  • Aliaxis SA
  • Avenue Arnaud Fraiteur, 15/23
  • Brussels
  • Brussels
  • 1050
  • Belgium

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
94124352ENXTBR (Euronext Brussels)YesOrdinary SharesBEEURJun 2015

Biography

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 ind ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/09 20:33
End of Day Share Price2019/12/03 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.