DB:CAD

Stock Analysis Report

Executive Summary

CIE Automotive, S.A. designs, manufactures, and sells automotive components and sub-assemblies worldwide.

Snowflake

Fundamentals

Moderate growth potential second-rate dividend payer.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-2.5%

CAD

2.3%

DE Auto Components

1.4%

DE Market


1 Year Return

-4.4%

CAD

-11.1%

DE Auto Components

3.7%

DE Market

Return vs Industry: CAD exceeded the German Auto Components industry which returned -11.1% over the past year.

Return vs Market: CAD underperformed the German Market which returned 3.7% over the past year.


Shareholder returns

CADIndustryMarket
7 Day-2.5%2.3%1.4%
30 Day-8.0%-2.7%1.3%
90 Day-4.5%1.2%3.4%
1 Year-2.2%-4.4%-7.3%-11.1%7.0%3.7%
3 Year27.3%21.0%-24.5%-30.8%18.5%8.3%
5 Year127.3%109.6%-17.1%-25.6%42.2%22.9%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

13.12x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: CAD (€21.46) is trading above our estimate of fair value (€16.94)

Significantly Undervalued: CAD is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: CAD is poor value based on its PE Ratio (13.1x) compared to the Auto Components industry average (13.1x).

PE vs Market: CAD is good value based on its PE Ratio (13.1x) compared to the German market (19.3x).


Price to Earnings Growth Ratio

Low PEG Ratio: CAD is poor value based on its PEG Ratio (1.3x)


Price to Book Ratio

PB vs Industry: CAD is overvalued based on its PB Ratio (3.6x) compared to the DE Auto Components industry average (1.2x).


Next Steps

Future Growth

How is CIE Automotive forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

10.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CAD's forecast earnings growth (10.2% per year) is above the savings rate (0.2%).

Earnings vs Market: CAD's earnings (10.2% per year) are forecast to grow slower than the German market (12.7% per year).

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

Revenue vs Market: CAD's revenue (6.7% per year) is forecast to grow faster than the German market (5% per year).

High Growth Revenue: CAD's revenue (6.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: CAD's Return on Equity is forecast to be high in 3 years time (22.7%)


Next Steps

Past Performance

How has CIE Automotive performed over the past 5 years?

19.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CAD's earnings have grown by 19.5% per year over the past 5 years.

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

Earnings vs Industry: CAD had negative earnings growth (-0.01%) over the past year, making it difficult to compare to the Auto Components industry average (-6.3%).


Return on Equity

High ROE: Whilst CAD's Return on Equity (20.94%) is high, this metric is skewed due to their high level of debt.


Return on Assets

ROA vs Industry: CAD has a higher Return on Assets than the Auto Components industry average last year.


Return on Capital Employed

ROCE Improving: CAD's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is CIE Automotive's financial position?


Financial Position Analysis

Short Term Liabilities: CAD's short term assets (€1.5B) do not cover its short term liabilities (€2.0B)

Long Term Liabilities: CAD's short term assets (1.5B) do not cover its long term liabilities (1.9B)


Debt to Equity History and Analysis

Debt Level: CAD's debt to equity ratio (185.8%) is considered high

Reducing Debt: CAD's debt to equity ratio has increased from 133.3% to 185.8% over the past 5 years.

Debt Coverage: CAD's debt is well covered by operating cash flow (20.6%).

Interest Coverage: CAD's interest payments on its debt are well covered by EBIT (8.2x coverage).


Balance Sheet

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

Debt Coverage by Assets: CAD's debt is not covered by short term assets (assets are 0.7x debt).


Next Steps

Dividend

What is CIE Automotive's current dividend yield, its reliability and sustainability?

2.88%

Current Dividend Yield


Dividend Yield vs Market

company2.9%marketbottom25%1.5%markettop25%3.8%industryaverage4.1%forecastin3Years3.4%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: CAD's dividend (2.88%) is higher than the bottom 25% of dividend payers in the German market (1.47%).

High Dividend: CAD's dividend (2.88%) is low compared to the top 25% of dividend payers in the German market (3.83%).

Stable Dividend: Whilst dividend payments have been stable, CAD has been paying a dividend for less than 10 years.

Growing Dividend: CAD's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (18.9%), CAD's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CAD's dividends in 3 years are forecast to be well covered by earnings (27.6% payout ratio).


Next Steps

Management

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

10.8yrs

Average board tenure


CEO

Jesus Maria Herrera Barandiaran (52yo)

6.8yrs

Tenure

€1,141,000

Compensation

Mr. Jesus Maria Herrera Barandiaran has been the Chief Executive Officer of Cie Automotive, S.A. since January 21, 2013. Mr. Herrera Barandiaran has been an Executive Director of Cie Automotive, S.A. since ...


CEO Compensation Analysis

Compensation vs. Market: Jesus Maria's total compensation ($USD0.00) is too low to compare against companies of similar size in the German market ($USD2.80M).

Compensation vs Earnings: Jesus Maria's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Board Age and Tenure

10.8yrs

Average Tenure

55yo

Average Age

Experienced Board: CAD's board of directors are seasoned and experienced ( 10.8 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Buy€2,360,98828 Nov 18
Elidoza Promoción de Empresas, S.L.
EntityCompany
Shares102,741
Max Price€22.98
Buy€5,055,87222 Nov 18
Elidoza Promoción de Empresas, S.L.
EntityCompany
Shares226,864
Max Price€22.49

Ownership Breakdown


Management Team

  • Jesus Maria Herrera Barandiaran (52yo)

    CEO & Executive Director

    • Tenure: 6.8yrs
    • Compensation: €1.14m
  • Susana Molinuevo Apellániz (49yo)

    Director of Internal Auditing

    • Tenure: 0yrs
  • Jesus Esmoris (55yo)

    Managing Director of Business Development & Products

    • Tenure: 0yrs
  • Fermín del Río Sanz de Acedo (64yo)

    Executive Director

    • Tenure: 13.8yrs
    • Compensation: €2.14m
  • Juan María Riberas Mera (55yo)

    Proprietary Director

    • Tenure: 9yrs
  • Santiago Zabaleta Areta (71yo)

    Managing Director of Steel

    • Tenure: 0yrs
  • Mikel Felix Barandiarán Landín (57yo)

    General Director of IT Services & Solutions and CEO of Global Dominion Access

    • Tenure: 0yrs
  • Javier Álvarez

    Human Resources Officer

    • Tenure: 0yrs
  • Lorea Aristizábal Abásolo

    Director of Corporate Development & Investor Relationship

    • Tenure: 0yrs
  • Irache Pardo Villanueva

    Director of Finance & Treasury and Head of Purchasing

    • Tenure: 0yrs

Board Members

  • Francisco José Riberas de Mera (55yo)

    Proprietary Director

    • Tenure: 9yrs
  • Jesus Maria Herrera Barandiaran (52yo)

    CEO & Executive Director

    • Tenure: 6.8yrs
    • Compensation: €1.14m
  • Antón Pradera Jáuregui (64yo)

    Proprietary Chairman

    • Tenure: 17.8yrs
    • Compensation: €2.21m
  • Jacobo Llanza Figueroa

    Proprietary Director

    • Tenure: 14.4yrs
  • Goizalde Egaña Garitagoitia (55yo)

    Vice Chairwoman

    • Tenure: 0yrs
  • María Teresa Salegui Arbizu

    Proprietary Director

    • Tenure: 12.5yrs
  • Fermín del Río Sanz de Acedo (64yo)

    Executive Director

    • Tenure: 13.8yrs
    • Compensation: €2.14m
  • Juan María Riberas Mera (55yo)

    Proprietary Director

    • Tenure: 9yrs
  • M. Carlos Solchaga Catalán (75yo)

    Lead Independent Director

    • Tenure: 0yrs
    • Compensation: €120.00k
  • Ángel Manuel Ochoa Crespo

    Independent Director

    • Tenure: 9yrs
    • Compensation: €80.00k

Company Information

CIE Automotive, S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: CIE Automotive, S.A.
  • Ticker: CAD
  • Exchange: DB
  • Founded: 1996
  • Industry: Auto Parts and Equipment
  • Sector: Automobiles
  • Market Cap: €2.776b
  • Shares outstanding: 129.00m
  • Website: https://www.cieautomotive.com

Number of Employees


Location

  • CIE Automotive, S.A.
  • Alameda Mazarredo 69, 8º
  • Bilbao
  • Basque Country
  • 48009
  • Spain

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CIEBME (Bolsas y Mercados Espanoles)YesOrdinary SharesESEURJan 1992
0DZCLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
CADDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
CIEEBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992
CIEA NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNJan 1992

Biography

CIE Automotive, S.A. designs, manufactures, and sells automotive components and sub-assemblies worldwide. It offers roof systems, including opening roof, shading, and glazing systems; BIW, chassis, and ste ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 21:02
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
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.