SWX:GIVN

Stock Analysis Report

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Executive Summary

Givaudan SA, together with its subsidiaries, manufactures and sells fragrance and flavor products to the food, beverage, consumer goods, and fragrance and cosmetics industries worldwide. More Details


Snowflake Analysis

Solid track record average dividend payer.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: GIVN is less volatile than 75% of Swiss stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: GIVN's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

-2.8%

GIVN

-2.0%

CH Chemicals

-1.1%

CH Market


1 Year Return

21.5%

GIVN

24.7%

CH Chemicals

-1.1%

CH Market

Return vs Industry: GIVN underperformed the Swiss Chemicals industry which returned 24.8% over the past year.

Return vs Market: GIVN exceeded the Swiss Market which returned -1.3% over the past year.


Shareholder returns

GIVNIndustryMarket
7 Day-2.8%-2.0%-1.1%
30 Day-9.8%-4.9%0.6%
90 Day-6.8%0.05%2.1%
1 Year24.1%21.5%28.6%24.7%2.4%-1.1%
3 Year68.8%57.0%44.7%30.9%17.9%3.2%
5 Year129.3%100.9%117.2%85.8%42.4%18.7%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

44.41x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: GIVN (CHF3541) is trading above our estimate of fair value (CHF2064.47)

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


Price To Earnings Ratio

PE vs Industry: GIVN is poor value based on its PE Ratio (44.4x) compared to the CH Chemicals industry average (43.2x).

PE vs Market: GIVN is poor value based on its PE Ratio (44.4x) compared to the Swiss market (22.8x).


Price to Earnings Growth Ratio

PEG Ratio: GIVN is poor value based on its PEG Ratio (4.6x)


Price to Book Ratio

PB vs Industry: GIVN is overvalued based on its PB Ratio (10.4x) compared to the CH Chemicals industry average (7.6x).


Next Steps

Future Growth

How is Givaudan forecast to perform in the next 1 to 3 years based on estimates from 22 analysts?

9.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GIVN's forecast earnings growth (9.8% per year) is above the savings rate (-0.2%).

Earnings vs Market: GIVN's earnings (9.8% per year) are forecast to grow slower than the Swiss market (13.4% per year).

High Growth Earnings: GIVN's earnings are forecast to grow, but not significantly.

Revenue vs Market: GIVN's revenue (3.9% per year) is forecast to grow slower than the Swiss market (4.8% per year).

High Growth Revenue: GIVN's revenue (3.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: GIVN's Return on Equity is forecast to be high in 3 years time (23.6%)


Next Steps

Past Performance

How has Givaudan performed over the past 5 years?

2.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: GIVN has high quality earnings.

Growing Profit Margin: GIVN's current net profit margins (11.6%) are higher than last year (11.3%).


Past Earnings Growth Analysis

Earnings Trend: GIVN's earnings have grown by 2.9% per year over the past 5 years.

Accelerating Growth: GIVN's earnings growth over the past year (9.3%) exceeds its 5-year average (2.9% per year).

Earnings vs Industry: GIVN earnings growth over the past year (9.3%) exceeded the Chemicals industry 0.8%.


Return on Equity

High ROE: Whilst GIVN's Return on Equity (23.24%) is high, this metric is skewed due to their high level of debt.


Next Steps

Financial Health

How is Givaudan's financial position?


Financial Position Analysis

Short Term Liabilities: GIVN's short term assets (CHF3.5B) exceed its short term liabilities (CHF2.4B).

Long Term Liabilities: GIVN's short term assets (CHF3.5B) do not cover its long term liabilities (CHF5.4B).


Debt to Equity History and Analysis

Debt Level: GIVN's debt to equity ratio (146.8%) is considered high.

Reducing Debt: GIVN's debt to equity ratio has increased from 41.7% to 146.8% over the past 5 years.

Debt Coverage: GIVN's debt is well covered by operating cash flow (26.4%).

Interest Coverage: GIVN's interest payments on its debt are well covered by EBIT (14.4x coverage).


Balance Sheet


Next Steps

Dividend

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

1.75%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: GIVN's dividend (1.75%) isn’t notable compared to the bottom 25% of dividend payers in the Swiss market (1.94%).

High Dividend: GIVN's dividend (1.75%) is low compared to the top 25% of dividend payers in the Swiss market (3.77%).


Stability and Growth of Payments

Stable Dividend: GIVN's dividends per share have been stable in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (77.8%), GIVN's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: GIVN's dividends in 3 years are forecast to be covered by earnings (66.4% payout ratio).


Next Steps

Management

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

5.3yrs

Average management tenure


CEO

Gilles Andrier (59 yo)

15.75yrs

Tenure

CHF6,297,549

Compensation

Mr. Gilles Andrier has been the Chief Executive Officer of Givaudan SA since March 2005. Mr. Andrier served as the Head of global Fine Fragrance business of Givaudan AG since 2003. Mr. Andrier joined Givau...


CEO Compensation Analysis

Compensation vs Market: Gilles's total compensation ($USD7.07M) is about average for companies of similar size in the Swiss market ($USD6.06M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Gilles Andrier
Chief Executive Officer15.75yrsCHF6.30m0.034%
CHF 11.0m
Tom Hallam
Chief Financial Officer3.92yrsno data0.0036%
CHF 1.2m
Peter Wullschleger
Head of Media and Investor Relationsno datano datano data
Simon Halle-Smith
Head of Global Human Resources & EHS5.33yrsno data0.0049%
CHF 1.6m
Laurent Pieren
Head of Corporate Internal Audit12.67yrsno datano data
Maurizio Volpi
President of Fragrance & Beauty5.92yrsno data0.0069%
CHF 2.3m
Willem Mutsaerts
Head of Global Procurement & Sustainability5.33yrsno data0.0038%
CHF 1.2m
Anne Tayac
Head of Givaudan Business Solutions4.33yrsno data0.0014%
CHF 442.4k
Fabien Jaunault
Head of Global Information Management & Technology4.42yrsno datano data
Louie D'Amico
President of Taste & Wellbeing2.67yrsno data0.0030%
CHF 976.6k
Hallvard Bremnes
Head of Sustainabilityno datano datano data
Sandra Girgis
Head of Environmental Sustainabilityno datano datano data

5.3yrs

Average Tenure

54.5yo

Average Age

Experienced Management: GIVN's management team is seasoned and experienced (5.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Lilian Biner
Independent Director9.92yrsCHF269.25k0.0073%
CHF 2.4m
Werner Bauer
Independent Vice Chairman3.42yrsCHF309.25k0.014%
CHF 4.5m
Michael Carlos
Non-Executive Director5.92yrsCHF309.25k0.012%
CHF 3.9m
Calvin Grieder
Independent Chairman3.75yrsCHF1.04m0.0032%
CHF 1.0m
Victor Balli
Independent Non-Executive Director4.92yrsCHF294.25k0.00092%
CHF 301.5k
Thomas Rufer
Independent Non-Executive Director11.92yrsCHF299.25k0.0096%
CHF 3.1m
Sophie Gasperment
Non-Executive Director0.25yrno datano data
Ingrid Deltenre
Independent Non-Executive Director5.92yrsCHF294.25k0.0022%
CHF 717.7k

5.4yrs

Average Tenure

64yo

Average Age

Experienced Board: GIVN's board of directors are considered experienced (5.4 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

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


Key Information

  • Name: Givaudan SA
  • Ticker: GIVN
  • Exchange: SWX
  • Founded: 1796
  • Industry: Specialty Chemicals
  • Sector: Materials
  • Market Cap: CHF32.772b
  • Shares outstanding: 9.23m
  • Website: https://www.givaudan.com

Number of Employees


Location

  • Givaudan SA
  • Chemin de la Parfumerie 5
  • Vernier
  • Geneva
  • 1214
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GVDB.FOTCPK (Pink Sheets LLC)YesRegistered SharesUSUSDJun 2000
GIVNSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFJun 2000
GINDB (Deutsche Boerse AG)YesRegistered SharesDEEURJun 2000
0QPSLSE (London Stock Exchange)YesRegistered SharesGBCHFJun 2000
GIVN NBMV (Bolsa Mexicana de Valores)YesRegistered SharesMXMXNJun 2000
GVDN.YOTCPK (Pink Sheets LLC)ADR EACH 50 REPR 1 ORDUSUSDJun 2008
GIN1DB (Deutsche Boerse AG)ADR EACH 50 REPR 1 ORDDEEURJun 2008

Biography

Givaudan SA, together with its subsidiaries, manufactures and sells fragrance and flavor products to the food, beverage, consumer goods, and fragrance and cosmetics industries worldwide. The company operat...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/04 18:09
End of Day Share Price2020/12/04 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.