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TESB

Tessenderlo Group ENXTBR:TESB Stock Report

Last Price

€32.00

Market Cap

€1.4b

7D

2.1%

1Y

-8.2%

Updated

28 May, 2022

Data

Company Financials +
TESB fundamental analysis
Snowflake Score
Valuation5/6
Future Growth1/6
Past Performance5/6
Financial Health6/6
Dividends0/6

TESB Stock Overview

Tessenderlo Group NV, together with its subsidiaries, engages in the agriculture, valorizing bio-residuals, energy, and industrial solution businesses worldwide.

Tessenderlo Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Tessenderlo Group
Historical stock prices
Current Share Price€32.00
52 Week High€37.45
52 Week Low€30.15
Beta0.57
1 Month Change-3.76%
3 Month Change-2.14%
1 Year Change-8.18%
3 Year Change9.97%
5 Year Change-17.28%
Change since IPO164.68%

Recent News & Updates

Mar 28
These 4 Measures Indicate That Tessenderlo Group (EBR:TESB) Is Using Debt Safely

These 4 Measures Indicate That Tessenderlo Group (EBR:TESB) Is Using Debt Safely

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Dec 15
Tessenderlo Group (EBR:TESB) Has A Pretty Healthy Balance Sheet

Tessenderlo Group (EBR:TESB) Has A Pretty Healthy Balance Sheet

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Sep 02
Here's Why Tessenderlo Group (EBR:TESB) Can Manage Its Debt Responsibly

Here's Why Tessenderlo Group (EBR:TESB) Can Manage Its Debt Responsibly

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...

Aug 12
Are Investors Undervaluing Tessenderlo Group NV (EBR:TESB) By 37%?

Are Investors Undervaluing Tessenderlo Group NV (EBR:TESB) By 37%?

How far off is Tessenderlo Group NV ( EBR:TESB ) from its intrinsic value? Using the most recent financial data, we'll...

May 24
Does Tessenderlo Group (EBR:TESB) Have A Healthy Balance Sheet?

Does Tessenderlo Group (EBR:TESB) Have A Healthy Balance Sheet?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

Shareholder Returns

TESBBE ChemicalsBE Market
7D2.1%3.0%1.0%
1Y-8.2%-14.8%-4.1%

Return vs Industry: TESB exceeded the Belgian Chemicals industry which returned -14.8% over the past year.

Return vs Market: TESB underperformed the Belgian Market which returned -4.1% over the past year.

Price Volatility

Is TESB's price volatile compared to industry and market?
TESB volatility
TESB Average Weekly Movement4.0%
Chemicals Industry Average Movement4.9%
Market Average Movement4.8%
10% most volatile stocks in BE Market7.7%
10% least volatile stocks in BE Market2.8%

Stable Share Price: TESB is not significantly more volatile than the rest of Belgian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: TESB's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19194,838Luc Tackhttps://www.tessenderlo.com

Tessenderlo Group NV, together with its subsidiaries, engages in the agriculture, valorizing bio-residuals, energy, and industrial solution businesses worldwide. It operates through four segments: Agro, Bio-Valorization, Industrial Solutions, and T-Power. The Agro segment engages in the production, marketing, and trading of crop nutrients, including liquid crop and potassium sulfate fertilizers, as well as crop protection products.

Tessenderlo Group Fundamentals Summary

How do Tessenderlo Group's earnings and revenue compare to its market cap?
TESB fundamental statistics
Market Cap€1.38b
Earnings (TTM)€187.80m
Revenue (TTM)€2.08b

7.4x

P/E Ratio

0.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TESB income statement (TTM)
Revenue€2.08b
Cost of Revenue€1.53b
Gross Profit€547.00m
Other Expenses€359.20m
Earnings€187.80m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

Aug 25, 2022

Earnings per share (EPS)4.35
Gross Margin26.28%
Net Profit Margin9.02%
Debt/Equity Ratio32.2%

How did TESB perform over the long term?

See historical performance and comparison

Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: TESB (€32) is trading below our estimate of fair value (€71.43)

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


Price To Earnings Ratio

PE vs Industry: TESB is good value based on its Price-To-Earnings Ratio (7.4x) compared to the Belgian Chemicals industry average (7.7x).

PE vs Market: TESB is good value based on its Price-To-Earnings Ratio (7.4x) compared to the Belgian market (11.4x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: TESB is good value based on its Price-To-Book Ratio (1.2x) compared to the BE Chemicals industry average (2.3x).


Future Growth

How is Tessenderlo Group forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-1.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TESB's earnings are forecast to decline over the next 3 years (-1.6% per year).

Earnings vs Market: TESB's earnings are forecast to decline over the next 3 years (-1.6% per year).

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

Revenue vs Market: TESB's revenue (2.8% per year) is forecast to grow faster than the Belgian market (0.9% per year).

High Growth Revenue: TESB's revenue (2.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TESB's Return on Equity is forecast to be low in 3 years time (11.4%).


Past Performance

How has Tessenderlo Group performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


18.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: TESB has high quality earnings.

Growing Profit Margin: TESB's current net profit margins (9%) are higher than last year (5.7%).


Past Earnings Growth Analysis

Earnings Trend: TESB's earnings have grown by 18.3% per year over the past 5 years.

Accelerating Growth: TESB's earnings growth over the past year (89.5%) exceeds its 5-year average (18.3% per year).

Earnings vs Industry: TESB earnings growth over the past year (89.5%) exceeded the Chemicals industry 58.3%.


Return on Equity

High ROE: TESB's Return on Equity (16.6%) is considered low.


Financial Health

How is Tessenderlo Group's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: TESB's short term assets (€1.1B) exceed its short term liabilities (€597.8M).

Long Term Liabilities: TESB's short term assets (€1.1B) exceed its long term liabilities (€477.9M).


Debt to Equity History and Analysis

Debt Level: TESB's net debt to equity ratio (3%) is considered satisfactory.

Reducing Debt: TESB's debt to equity ratio has reduced from 42.2% to 32.2% over the past 5 years.

Debt Coverage: TESB's debt is well covered by operating cash flow (68.1%).

Interest Coverage: TESB earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is Tessenderlo Group current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate TESB's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate TESB's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TESB's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TESB's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: TESB is not paying a notable dividend for the Belgian market.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as TESB has not reported any payouts.


Discover strong dividend paying companies

Management

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

6.7yrs

Average board tenure


CEO

Luc Tack (60 yo)

8.42yrs

Tenure

€36,500

Compensation

Mr. Luc Tack has been Chief Executive Officer of Tessenderlo Group NV (formerly known as Tessenderlo Chemie NV) since December 18, 2013 and its Executive Director since November 13, 2013. Mr. Tack has been...


CEO Compensation Analysis

Compensation vs Market: Luc's total compensation ($USD39.10K) is below average for companies of similar size in the Belgian market ($USD590.75K).

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


Board Members

Experienced Board: TESB's board of directors are considered experienced (6.7 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

Tessenderlo Group NV's employee growth, exchange listings and data sources


Key Information

  • Name: Tessenderlo Group NV
  • Ticker: TESB
  • Exchange: ENXTBR
  • Founded: 1919
  • Industry: Diversified Chemicals
  • Sector: Materials
  • Implied Market Cap: €1.381b
  • Shares outstanding: 43.15m
  • Website: https://www.tessenderlo.com

Number of Employees


Location

  • Tessenderlo Group NV
  • Troonstraat 130 rue du TrOne
  • Brussels
  • Brussels
  • 1050
  • Belgium

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/28 00:00
End of Day Share Price2022/05/27 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.