TSX:BOS

Stock Analysis Report

AirBoss of America

Executive Summary

AirBoss of America Corp., through its subsidiaries, develops, manufactures, and sells rubber-based products to the resource, military, automotive, and industrial markets primarily in Canada and the United States.

Snowflake

Excellent balance sheet, good value and pays a dividend.


Similar Companies

Share Price & News

How has AirBoss of America's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

2.4%

BOS

-4.8%

CA Chemicals

0.2%

CA Market


1 Year Return

-7.2%

BOS

-12.0%

CA Chemicals

8.3%

CA Market

Return vs Industry: BOS exceeded the Canadian Chemicals industry which returned -12% over the past year.

Return vs Market: BOS underperformed the Canadian Market which returned 8.3% over the past year.


Shareholder returns

BOSIndustryMarket
7 Day2.4%-4.8%0.2%
30 Day2.3%-1.7%3.0%
90 Day-6.7%-1.0%5.0%
1 Year-3.9%-7.2%-9.0%-12.0%11.9%8.3%
3 Year-18.0%-24.2%-9.8%-14.9%16.8%6.3%
5 Year-17.3%-25.9%-13.9%-22.9%29.5%10.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is AirBoss of America undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BOS (CA$7.66) is trading below our estimate of fair value (CA$16.16)

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


Price To Earnings Ratio

PE vs Industry: BOS is poor value based on its PE Ratio (14.8x) compared to the Chemicals industry average (14.8x).

PE vs Market: BOS is poor value based on its PE Ratio (14.8x) compared to the Canadian market (14.5x).


Price to Earnings Growth Ratio

PEG Ratio: BOS is good value based on its PEG Ratio (0.4x)


Price to Book Ratio

PB vs Industry: BOS is good value based on its PB Ratio (1.1x) compared to the CA Chemicals industry average (1.1x).


Next Steps

Future Growth

How is AirBoss of America forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

33.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BOS's forecast earnings growth (33% per year) is above the savings rate (1.9%).

Earnings vs Market: BOS's earnings (33% per year) are forecast to grow faster than the Canadian market (10.1% per year).

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

Revenue vs Market: BOS's revenue (3.8% per year) is forecast to grow slower than the Canadian market (4.8% per year).

High Growth Revenue: BOS's revenue (3.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BOS's Return on Equity is forecast to be low in 3 years time (12.8%).


Next Steps

Past Performance

How has AirBoss of America performed over the past 5 years?

-7.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BOS has high quality earnings.

Growing Profit Margin: BOS's current net profit margins (2.9%) are lower than last year (3.5%).


Past Earnings Growth Analysis

Earnings Trend: BOS's earnings have declined by -7.6% per year over the past 5 years.

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

Earnings vs Industry: BOS had negative earnings growth (-17.2%) over the past year, making it difficult to compare to the Chemicals industry average (-20.3%).


Return on Equity

High ROE: BOS's Return on Equity (7.3%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is AirBoss of America's financial position?


Financial Position Analysis

Short Term Liabilities: BOS's short term assets ($117.9M) exceeds its short term liabilities ($48.0M)

Long Term Liabilities: BOS's short term assets ($117.9M) exceeds its long term liabilities (67.2M)


Debt to Equity History and Analysis

Debt Level: BOS's debt to equity ratio (48.6%) is considered high.

Reducing Debt: BOS's debt to equity ratio has reduced from 59.9% to 48.6% over the past 5 years.

Debt Coverage: BOS's debt is well covered by operating cash flow (42.6%).

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


Balance Sheet

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

Debt Coverage by Assets: BOS's debt is covered by short term assets (assets are 1.9x debt).


Next Steps

Dividend

What is AirBoss of America's current dividend yield, its reliability and sustainability?

3.65%

Current Dividend Yield


Upcoming Dividend Payment

Purchase AirBoss of America before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company3.6%marketbottom25%2.0%markettop25%5.7%industryaverage2.2%forecastin3Years3.9%

Current dividend yield vs market & industry

Notable Dividend: BOS's dividend (3.65%) is higher than the bottom 25% of dividend payers in the Canadian market (1.96%).

High Dividend: BOS's dividend (3.65%) is low compared to the top 25% of dividend payers in the Canadian market (5.73%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (51.8%), BOS's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BOS's dividends in 3 years are forecast to be well covered by earnings (30.8% payout ratio).


Next Steps

Management

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

3.0yrs

Average management tenure


CEO

Gren Schoch 0

0yrs

Tenure

US$512,494

Compensation

Mr. Peter Grenville Schoch, also known as Gren, serves as Chief Executive Officer of AirBoss of America Corp. Mr. Grenville worked for ScAmerica Corp. since November 2013. Mr. Schoch has been the Chairman  ...


CEO Compensation Analysis

Compensation vs Market: Gren's total compensation ($USD512.49K) is above average for companies of similar size in the Canadian market ($USD135.52K).

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


Management Age and Tenure

3.0yrs

Average Tenure

Experienced Management: BOS's management team is considered experienced (3 years average tenure).


Board Age and Tenure

13.5yrs

Average Tenure

Experienced Board: BOS's board of directors are seasoned and experienced ( 13.5 years average tenure).


Insider Trading

Insider Buying: BOS insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellUS$159,60419 Nov 19
Lisa Swartzman
EntityIndividual
Shares21,500
Max PriceUS$7.50
SellUS$72,01315 Nov 19
Lisa Swartzman
EntityIndividual
Shares9,500
Max PriceUS$7.59
BuyUS$1,495,00024 Oct 19
James Flatt
EntityIndividual
Shares200,000
Max PriceUS$7.48
BuyUS$19,15530 Sep 19
Peter Schoch
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares2,500
Max PriceUS$7.73
BuyUS$26,75210 Sep 19
Peter Schoch
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares3,500
Max PriceUS$7.70
BuyUS$19,25004 Sep 19
Peter Schoch
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares2,500
Max PriceUS$7.70
BuyUS$5,21022 Aug 19
Slawomir Figel
EntityIndividual
Shares629
Max PriceUS$8.28
BuyUS$7,27222 Aug 19
Chris Bitsakakis
EntityIndividual
Role
President
COO & President
Shares878
Max PriceUS$8.28
BuyUS$7,27222 Aug 19
Andrea Weinkove
EntityIndividual
Shares878
Max PriceUS$8.28
BuyUS$40,79302 Jul 19
Peter Schoch
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares5,000
Max PriceUS$8.16
BuyUS$293,66002 Jul 19
Slawomir Figel
EntityIndividual
Shares35,000
Max PriceUS$8.39
BuyUS$92,29302 Jul 19
Chris Bitsakakis
EntityIndividual
Role
President
COO & President
Shares11,000
Max PriceUS$8.39
BuyUS$92,29302 Jul 19
Andrea Weinkove
EntityIndividual
Shares11,000
Max PriceUS$8.39
SellUS$31,75716 May 19
Mary Matthews
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares3,100
Max PriceUS$10.30

Ownership Breakdown

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


Management Team

  • Daniel Gagnon

    Chief Financial Officer

    • Tenure: 3.4yrs
    • Compensation: US$320.32k
  • Gren Schoch

    Chairman & CEO

    • Tenure: 0yrs
    • Compensation: US$512.49k
  • Bradley Berghouse

    President of AirBoss Flexible Products Co

    • Tenure: 3yrs
  • Chris Bitsakakis

    COO & President

    • Tenure: 0.4yrs
    • Compensation: US$578.84k
  • Chris Figel

    VP & Secretary

    • Tenure: 0yrs

Board Members

  • Anita Antenucci

    Director

    • Tenure: 0.3yrs
  • Bob Hagerman

    Independent Director

    • Tenure: 30.1yrs
    • Compensation: US$55.57k
  • Robert McLeish

    Lead Director

    • Tenure: 3.7yrs
    • Compensation: US$71.39k
  • Brian Robbins (72yo)

    Independent Director

    • Tenure: 22.4yrs
    • Compensation: US$63.67k
  • Gren Schoch

    Chairman & CEO

    • Tenure: 0yrs
    • Compensation: US$512.49k
  • David Campbell

    Member of Advisory Board

    • Tenure: 0yrs
    • Compensation: US$28.00k
  • Mary Matthews

    Independent Director

    • Tenure: 13.5yrs
    • Compensation: US$59.81k
  • Alan James Watson

    Independent Director

    • Tenure: 12.2yrs
    • Compensation: US$55.57k

Company Information

AirBoss of America Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: AirBoss of America Corp.
  • Ticker: BOS
  • Exchange: TSX
  • Founded:
  • Industry: Commodity Chemicals
  • Sector: Materials
  • Market Cap: CA$173.338m
  • Shares outstanding: 23.39m
  • Website: https://www.airbossofamerica.com

Number of Employees


Location

  • AirBoss of America Corp.
  • 16441 Yonge Street
  • Newmarket
  • Ontario
  • L3X 2G8
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BOSTSX (The Toronto Stock Exchange)YesCommon SharesCACADNov 1989
ABSS.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDNov 1989
2S1DB (Deutsche Boerse AG)YesCommon SharesDEEURNov 1989

Biography

AirBoss of America Corp., through its subsidiaries, develops, manufactures, and sells rubber-based products to the resource, military, automotive, and industrial markets primarily in Canada and the United  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/21 23:31
End of Day Share Price2019/11/21 00:00
Earnings2019/09/30
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.