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REC

Recticel ENXTBR:REC Stock Report

Last Price

€17.82

Market Cap

€993.1m

7D

-0.2%

1Y

21.6%

Updated

22 May, 2022

Data

Company Financials +
REC fundamental analysis
Snowflake Score
Valuation0/6
Future Growth0/6
Past Performance3/6
Financial Health5/6
Dividends3/6

REC Stock Overview

Recticel SA/NV manufactures and markets polyurethane foams for the flexible foams, bedding, insulation, and other applications.

Recticel Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Recticel
Historical stock prices
Current Share Price€17.82
52 Week High€22.60
52 Week Low€13.52
Beta1.6
1 Month Change-16.73%
3 Month Change3.01%
1 Year Change21.56%
3 Year Change123.03%
5 Year Change145.25%
Change since IPO139.89%

Recent News & Updates

Shareholder Returns

RECBE ChemicalsBE Market
7D-0.2%-0.9%-1.5%
1Y21.6%-17.1%-4.5%

Return vs Industry: REC exceeded the Belgian Chemicals industry which returned -17.1% over the past year.

Return vs Market: REC exceeded the Belgian Market which returned -4.5% over the past year.

Price Volatility

Is REC's price volatile compared to industry and market?
REC volatility
REC Average Weekly Movement6.3%
Chemicals Industry Average Movement5.7%
Market Average Movement5.1%
10% most volatile stocks in BE Market7.8%
10% least volatile stocks in BE Market3.2%

Stable Share Price: REC is more volatile than 75% of Belgian stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: REC's weekly volatility (6%) has been stable over the past year, but is still higher than 75% of Belgian stocks.

About the Company

FoundedEmployeesCEOWebsite
18964,866Olivier Chapellehttps://www.recticel.com

Recticel SA/NV manufactures and markets polyurethane foams for the flexible foams, bedding, insulation, and other applications. The company’s Engineered Foam business line provides solutions for various areas, such as silencing, sealing, filtering, carrying, protecting, supporting, and comforting. It also provides comfort foams, which primarily comprise bulk commodities for upholstered furniture and mattresses; and technical foams, which are used in a range of applications, such as sealing and silencing in passenger cars and industrial equipment, sponges, scouring pads, filters, paint rollers, and packaging.

Recticel Fundamentals Summary

How do Recticel's earnings and revenue compare to its market cap?
REC fundamental statistics
Market Cap€993.09m
Earnings (TTM)€48.65m
Revenue (TTM)€1.03b

20.4x

P/E Ratio

1.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
REC income statement (TTM)
Revenue€1.03b
Cost of Revenue€845.41m
Gross Profit€187.39m
Other Expenses€138.74m
Earnings€48.65m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

Aug 26, 2022

Earnings per share (EPS)0.87
Gross Margin18.14%
Net Profit Margin4.71%
Debt/Equity Ratio55.5%

How did REC perform over the long term?

See historical performance and comparison

Dividends

1.6%

Current Dividend Yield

33%

Payout Ratio

Valuation

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

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


20.41x

Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: REC (€17.82) is trading above our estimate of fair value (€10.27)

Significantly Below Fair Value: REC is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: REC is poor value based on its PE Ratio (20.4x) compared to the Belgian Chemicals industry average (7.6x).

PE vs Market: REC is poor value based on its PE Ratio (20.4x) compared to the Belgian market (11.8x).


Price to Earnings Growth Ratio

PEG Ratio: REC's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: REC is overvalued based on its PB Ratio (2.5x) compared to the BE Chemicals industry average (2.3x).


Future Growth

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

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-22.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: REC's earnings are forecast to decline over the next 3 years (-22.9% per year).

Earnings vs Market: REC's earnings are forecast to decline over the next 3 years (-22.9% per year).

High Growth Earnings: REC's earnings are forecast to decline over the next 3 years.

Revenue vs Market: REC's revenue is expected to decline over the next 3 years (-17.6% per year).

High Growth Revenue: REC's revenue is forecast to decline over the next 3 years (-17.6% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: REC's Return on Equity is forecast to be low in 3 years time (8%).


Past Performance

How has Recticel performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


1.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: REC has high quality earnings.

Growing Profit Margin: REC became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: REC's earnings have grown by 1.3% per year over the past 5 years.

Accelerating Growth: REC has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: REC has become profitable in the last year, making it difficult to compare its past year earnings growth to the Chemicals industry (53.1%).


Return on Equity

High ROE: REC's Return on Equity (12.6%) is considered low.


Financial Health

How is Recticel's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: REC's short term assets (€534.9M) exceed its short term liabilities (€358.5M).

Long Term Liabilities: REC's short term assets (€534.9M) exceed its long term liabilities (€305.9M).


Debt to Equity History and Analysis

Debt Level: REC's net debt to equity ratio (25.2%) is considered satisfactory.

Reducing Debt: REC's debt to equity ratio has increased from 53.8% to 55.5% over the past 5 years.

Debt Coverage: REC's debt is well covered by operating cash flow (51.9%).

Interest Coverage: REC's interest payments on its debt are well covered by EBIT (7.3x coverage).


Balance Sheet


Dividend

What is Recticel current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


1.63%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: REC's dividend (1.63%) isn’t notable compared to the bottom 25% of dividend payers in the Belgian market (1.77%).

High Dividend: REC's dividend (1.63%) is low compared to the top 25% of dividend payers in the Belgian market (5.82%).


Stability and Growth of Payments

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

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


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (33.1%), REC's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (16.3%), REC's dividend payments are well covered by cash flows.


Discover strong dividend paying companies

Management

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

9.3yrs

Average management tenure


CEO

Olivier Chapelle (57 yo)

12.42yrs

Tenure

€1,544,915

Compensation

Mr. Olivier Chapelle, BVBA is a Group General Manager of Bedding at Recticel SA since January 20, 2017 and its Chief Executive Officer since December 2009 and serves as its MD and Director since 2009. He w...


CEO Compensation Analysis

Compensation vs Market: Olivier's total compensation ($USD1.63M) is above average for companies of similar size in the Belgian market ($USD806.25K).

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


Leadership Team

Experienced Management: REC's management team is seasoned and experienced (9.3 years average tenure).


Board Members

Experienced Board: REC's board of directors are considered experienced (7 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

Recticel SA/NV's employee growth, exchange listings and data sources


Key Information

  • Name: Recticel SA/NV
  • Ticker: REC
  • Exchange: ENXTBR
  • Founded: 1896
  • Industry: Commodity Chemicals
  • Sector: Materials
  • Implied Market Cap: €993.093m
  • Shares outstanding: 55.73m
  • Website: https://www.recticel.com

Number of Employees


Location

  • Recticel SA/NV
  • Bourgetlaan 42 Avenue du Bourget
  • Brussels
  • Brussels
  • 1130
  • Belgium

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/22 00:00
End of Day Share Price2022/05/20 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


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.