Stock Analysis Report

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Executive Summary

Umicore SA operates as a materials technology and recycling company worldwide.

Snowflake Analysis

Mediocre balance sheet second-rate dividend payer.

Similar Companies

Share Price & News

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

Latest Share Price and Events

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

Market Performance

7 Day Return




BE Chemicals


BE Market

1 Year Return




BE Chemicals


BE Market

Return vs Industry: UMI exceeded the Belgian Chemicals industry which returned 8.1% over the past year.

Return vs Market: UMI exceeded the Belgian Market which returned -19.2% over the past year.

Shareholder returns

7 Day3.4%5.7%3.1%
30 Day-8.3%-4.4%-0.4%
90 Day7.4%8.1%13.7%
1 Year49.4%47.9%10.8%8.1%-17.9%-19.2%
3 Year26.9%22.4%-12.7%-18.2%-24.7%-29.3%
5 Year139.0%121.7%22.0%4.0%-16.1%-25.1%

Price Volatility Vs. Market

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

Simply Wall St News


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


Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: UMI (€39.29) is trading above our estimate of fair value (€12.17)

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

Price To Earnings Ratio

PE vs Industry: UMI is poor value based on its PE Ratio (41x) compared to the BE Chemicals industry average (38.5x).

PE vs Market: UMI is poor value based on its PE Ratio (41x) compared to the Belgian market (14.1x).

Price to Earnings Growth Ratio

PEG Ratio: UMI is poor value based on its PEG Ratio (1.7x)

Price to Book Ratio

PB vs Industry: UMI is overvalued based on its PB Ratio (3.6x) compared to the BE Chemicals industry average (1.4x).

Next Steps

Future Growth

How is Umicore forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: UMI's forecast earnings growth (24.4% per year) is above the savings rate (1.6%).

Earnings vs Market: UMI's earnings (24.4% per year) are forecast to grow slower than the Belgian market (26.4% per year).

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

Revenue vs Market: UMI's revenue (0.5% per year) is forecast to grow slower than the Belgian market (5.4% per year).

High Growth Revenue: UMI's revenue (0.5% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: UMI's Return on Equity is forecast to be low in 3 years time (13.2%).

Next Steps

Past Performance

How has Umicore performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: UMI has high quality earnings.

Growing Profit Margin: UMI's current net profit margins (1.2%) are lower than last year (2%).

Past Earnings Growth Analysis

Earnings Trend: UMI's earnings have grown by 13.5% per year over the past 5 years.

Accelerating Growth: UMI's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: UMI had negative earnings growth (-24.3%) over the past year, making it difficult to compare to the Chemicals industry average (-14.2%).

Return on Equity

High ROE: UMI's Return on Equity (9%) is considered low.

Next Steps

Financial Health

How is Umicore's financial position?

Financial Position Analysis

Short Term Liabilities: UMI's short term assets (€5.0B) exceed its short term liabilities (€2.9B).

Long Term Liabilities: UMI's short term assets (€5.0B) exceed its long term liabilities (€2.3B).

Debt to Equity History and Analysis

Debt Level: UMI's debt to equity ratio (92.8%) is considered high.

Reducing Debt: UMI's debt to equity ratio has increased from 23% to 92.8% over the past 5 years.

Debt Coverage: UMI's debt is not well covered by operating cash flow (19.5%).

Interest Coverage: UMI's interest payments on its debt are well covered by EBIT (9.4x coverage).

Balance Sheet

Next Steps


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


Current Dividend Yield

Upcoming Dividend Payment

Dividend Yield vs Market

Notable Dividend: UMI's dividend (1.27%) isn’t notable compared to the bottom 25% of dividend payers in the Belgian market (2.51%).

High Dividend: UMI's dividend (1.27%) is low compared to the top 25% of dividend payers in the Belgian market (5.3%).

Stability and Growth of Payments

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

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

Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (26.1%), UMI's dividend payments are well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: UMI's dividends in 3 years are forecast to be well covered by earnings (36.1% payout ratio).

Next Steps


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


Average management tenure


Marc Grynberg (55 yo)





Mr. Marc Grynberg has been the Chief Executive Officer of Umicore S.A. since November 2008 and had been its Executive Director since November 19, 2008 until May 2020. Mr. Grynberg serves as Chief Executive ...

CEO Compensation Analysis

Compensation vs Market: Marc's total compensation ($USD2.83M) is about average for companies of similar size in the Belgian market ($USD2.37M).

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

Leadership Team

Marc Grynberg
Chief Executive Officer11.75yrs€2.39m0.38%
€ 35.9m
Filip Platteeuw
Chief Financial Officer7.75yrsno data0.019%
€ 1.8m
Ann Steegen
Chief Technology Officer1.83yrsno data0.00077%
€ 72.8k
Géraldine Nolens
Executive VP of Legal5.58yrsno data0.011%
€ 1.1m
Stephan Csoma
Executive Vice President of Recycling15.58yrsno data0.0092%
€ 872.3k
Denis Goffaux
Executive Vice-President of Energy & Surface Technologies2.33yrsno data0.032%
€ 3.0m
Ralph Kiessling
Executive Vice-President of Catalysis1.5yrsno data0.00042%
€ 39.7k
Evelien Goovaerts
Head of Investor Relationsno datano datano data
Tim Weekes
Director of Group Communicationsno datano datano data
Ignace de Ruijter
Senior Vice-President of Human Resourcesno datano datano data
Jan Vliegen
Senior Vice President of Strategic Developments Energy & Surface Technologyno datano datano data
Pierre Van de Bruaene
Senior Vice President of Environment Health & Safetyno datano datano data


Average Tenure


Average Age

Experienced Management: UMI's management team is seasoned and experienced (5.6 years average tenure).

Board Members

Koenraad Debackere
Independent Non-Executive Director2.33yrs€99.93k0.00070%
€ 66.2k
Eric Meurice
Independent Non-Executive Director5.33yrs€77.93k0.0019%
€ 183.3k
Thomas Leysen
Chairman of the Board11.75yrs€165.24k0.38%
€ 36.1m
Françoise Chombar
Independent Non-Executive Director4.33yrs€79.93k0.0015%
€ 144.6k
Karel Vinck
Honorary Chairmanno data€138.00kno data
Ines Kolmsee
Independent Non-Executive Director9.33yrs€127.93k0.0032%
€ 298.6k
Marc Van Sande
Board Advisorno datano datano data
Mark Garrett
Independent Non-Executive Director5.33yrs€86.93k0.0056%
€ 526.4k
Laurent Raets
Director1.33yrs€62.02kno data
Liat Ben-Zur
Independent Non-Executive Director3.33yrs€77.93k0.0011%
€ 105.8k
Mario Armero Montes
Director0.33yrno datano data


Average Tenure


Average Age

Experienced Board: UMI's board of directors are considered experienced (4.3 years average tenure).


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

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

Key Information

  • Name: Umicore SA
  • Ticker: UMI
  • Exchange: ENXTBR
  • Founded: 1906
  • Industry: Specialty Chemicals
  • Sector: Materials
  • Market Cap: €9.451b
  • Shares outstanding: 240.53m
  • Website: https://www.umicore.com

Number of Employees


  • Umicore SA
  • Rue du Marais 31 Broekstraat
  • Brussels
  • Brussels
  • 1000
  • Belgium


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
UMIC.FOTCPK (Pink Sheets LLC)YesBearer SharesUSUSDJan 1992
NVJPDB (Deutsche Boerse AG)YesBearer SharesDEEURJan 1992
UMIENXTBR (Euronext Brussels)YesBearer SharesBEEURJan 1992
0RUYLSE (London Stock Exchange)YesBearer SharesGBEURJan 1992
UMIBBATS-CHIXE (BATS 'Chi-X Europe')YesBearer SharesGBEURJan 1992
UMIWBAG (Wiener Boerse AG)YesBearer SharesATEURJan 1992
UMI NBMV (Bolsa Mexicana de Valores)YesBearer SharesMXMXNJan 1992
NVJPETLX (Eurotlx)YesBearer SharesITEURJan 1992


Umicore SA operates as a materials technology and recycling company worldwide. The company operates through Catalysis, Energy & Surface Technologies, and Recycling segments. The Catalysis segment produces ...

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/14 10:05
End of Day Share Price2020/08/13 00:00
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.