ENXTBR:FLUX

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Fluxys Belgium SA engages in the transmission and storage of natural gas in Belgium. More Details


Snowflake Analysis

Solid track record with imperfect balance sheet.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

2.4%

FLUX

-0.9%

BE Oil and Gas

-4.4%

BE Market


1 Year Return

4.6%

FLUX

-45.9%

BE Oil and Gas

-23.2%

BE Market

Return vs Industry: FLUX exceeded the Belgian Oil and Gas industry which returned -36.8% over the past year.

Return vs Market: FLUX exceeded the Belgian Market which returned -19.7% over the past year.


Shareholder returns

FLUXIndustryMarket
7 Day2.4%-0.9%-4.4%
30 Day4.9%-2.6%-5.7%
90 Day7.2%-17.1%-6.3%
1 Year8.0%4.6%-42.7%-45.9%-22.0%-23.2%
3 Year22.0%10.8%-28.4%-39.1%-31.3%-35.4%
5 Year36.6%16.5%-9.5%-30.8%-24.7%-32.4%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

15.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FLUX (€29.7) is trading below our estimate of fair value (€35.15)

Significantly Below Fair Value: FLUX is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: FLUX is poor value based on its PE Ratio (28x) compared to the XE Oil and Gas industry average (10.5x).

PE vs Market: FLUX is poor value based on its PE Ratio (28x) compared to the Belgian market (15.5x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: FLUX is overvalued based on its PB Ratio (3.5x) compared to the XE Oil and Gas industry average (0.6x).


Next Steps

Future Growth

How is Fluxys Belgium forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-15.2%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if FLUX's forecast earnings growth is above the savings rate (1.6%).

Earnings vs Market: Insufficient data to determine if FLUX's earnings are forecast to grow faster than the Belgian market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: FLUX's revenue is expected to decline over the next 3 years (-15.2% per year).

High Growth Revenue: FLUX's revenue is forecast to decline over the next 3 years (-15.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if FLUX's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Fluxys Belgium performed over the past 5 years?

4.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FLUX has high quality earnings.

Growing Profit Margin: FLUX's current net profit margins (12.2%) are higher than last year (10.1%).


Past Earnings Growth Analysis

Earnings Trend: FLUX's earnings have grown by 4.7% per year over the past 5 years.

Accelerating Growth: FLUX's earnings growth over the past year (21.2%) exceeds its 5-year average (4.7% per year).

Earnings vs Industry: FLUX earnings growth over the past year (21.2%) exceeded the Oil and Gas industry -20.7%.


Return on Equity

High ROE: FLUX's Return on Equity (12.5%) is considered low.


Next Steps

Financial Health

How is Fluxys Belgium's financial position?


Financial Position Analysis

Short Term Liabilities: FLUX's short term assets (€506.6M) exceed its short term liabilities (€193.4M).

Long Term Liabilities: FLUX's short term assets (€506.6M) do not cover its long term liabilities (€2.0B).


Debt to Equity History and Analysis

Debt Level: FLUX's debt to equity ratio (302.7%) is considered high.

Reducing Debt: FLUX's debt to equity ratio has increased from 278.5% to 302.7% over the past 5 years.

Debt Coverage: FLUX's debt is not well covered by operating cash flow (15.7%).

Interest Coverage: FLUX's interest payments on its debt are well covered by EBIT (3.8x coverage).


Balance Sheet


Next Steps

Dividend

What is Fluxys Belgium current dividend yield, its reliability and sustainability?

4.38%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FLUX's dividend (4.38%) is higher than the bottom 25% of dividend payers in the Belgian market (2.08%).

High Dividend: FLUX's dividend (4.38%) is low compared to the top 25% of dividend payers in the Belgian market (5.65%).


Stability and Growth of Payments

Stable Dividend: FLUX's dividend payments have been volatile in the past 10 years.

Growing Dividend: FLUX's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (122.4%), FLUX's dividend payments are not 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

How experienced are the management team and are they aligned to shareholders interests?

4.7yrs

Average management tenure


CEO

Pascal De Buck

5.75yrs

Tenure

€516,941

Compensation

Mr. Pascal De Buck serves as Deputy Chief Executive Officer and Director of Business Development & Strategy at Fluxys NV (formerly known as Fluxys SA). Mr. De Buck has been the Chairman of the Executive Bo ...


CEO Compensation Analysis

Compensation vs Market: Pascal's total compensation ($USD610.82K) is about average for companies of similar size in the Belgian market ($USD811.29K).

Compensation vs Earnings: Pascal's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Pascal De Buck
Chairman of Executive Board5.75yrs€516.94kno data
Christian Leclercq
CFO & Member of the Executive Board0.75yrno datano data
Peter K. Verhaeghe
CTO & Member of Executive Boardno datano datano data
Arno Büx
Chief Commercial Officer & Member of the Executive Board4.67yrsno datano data
Nicolas Daubies
Company Secretary & Group General Counselno datano datano data
Anne Schueren
Director of Human Resourcesno datano datano data

4.7yrs

Average Tenure

Experienced Management: FLUX's management team is considered experienced (4.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Luc Hujoel
Director11.42yrs€24.64kno data
Daniël Termont
Chairmanno data€28.99kno data
Claude Grégoire
Vice-Chairman of the Boardno data€23.89kno data
Josly Piette
Director11.33yrs€17.04kno data
Walter Nonneman
Independent Director11.42yrs€25.14kno data
Luc Zabeau
Director11.33yrs€17.79kno data
Renaud Moens
Director6.08yrs€18.29kno data
François Fontaine
Advisory Director (Government Representative)11.67yrs€18.54kno data
Ludo Kelchtermans
Director8.33yrs€18.04kno data
Valentine Delwart
Independent Director7.42yrs€29.74kno data
Sandra Wauters
Independent Director7.42yrs€24.89kno data
Sabine Colson
Independent Director2yrs€24.14kno data

9.8yrs

Average Tenure

70.5yo

Average Age

Experienced Board: FLUX's board of directors are considered experienced (9.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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.


Top Shareholders

Company Information

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


Key Information


Number of Employees


Location

  • Fluxys Belgium SA
  • Avenue des Arts 31
  • Brussels
  • Brussels
  • 1040
  • Belgium

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FLUXENXTBR (Euronext Brussels)YesBearer SharesBEEURDec 2001
0Q7ULSE (London Stock Exchange)YesBearer SharesGBEURDec 2001
FLUXBBATS-CHIXE (BATS 'Chi-X Europe')YesBearer SharesGBEURDec 2001

Biography

Fluxys Belgium SA engages in the transmission and storage of natural gas in Belgium. The company sells capacity to its customers to transport natural gas for distribution system operators, power plants, an ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/11 21:10
End of Day Share Price2020/10/09 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.