DB:A3B

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Executive Summary

ACCO Brands Corporation designs, manufactures, and markets consumer and business products. More Details


Snowflake Analysis

Undervalued with reasonable growth potential.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: A3B is more volatile than 75% of German stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: A3B's weekly volatility (8%) has been stable over the past year, but is still higher than 75% of German stocks.


Market Performance


7 Day Return

4.7%

A3B

2.9%

DE Commercial Services

0.7%

DE Market


1 Year Return

-17.7%

A3B

-2.9%

DE Commercial Services

0.6%

DE Market

Return vs Industry: A3B underperformed the German Commercial Services industry which returned -2.9% over the past year.

Return vs Market: A3B underperformed the German Market which returned 0.6% over the past year.


Shareholder returns

A3BIndustryMarket
7 Day4.7%2.9%0.7%
30 Day29.8%13.9%7.8%
90 Day22.7%14.0%1.7%
1 Year-14.1%-17.7%-1.0%-2.9%3.9%0.6%
3 Year-34.3%-40.1%1.7%-6.0%4.0%-5.0%
5 Year1.9%-7.1%-7.3%-18.3%21.4%4.2%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is ACCO Brands 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: A3B (€6.75) is trading below our estimate of fair value (€22.89)

Significantly Below Fair Value: A3B is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: A3B is good value based on its PE Ratio (10.2x) compared to the XE Commercial Services industry average (18.8x).

PE vs Market: A3B is good value based on its PE Ratio (10.2x) compared to the German market (23.2x).


Price to Earnings Growth Ratio

PEG Ratio: A3B is good value based on its PEG Ratio (0.3x)


Price to Book Ratio

PB vs Industry: A3B's PB Ratio (1.1x) is in line with the DE Commercial Services industry average.


Next Steps

Future Growth

How is ACCO Brands forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

35.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: A3B's forecast earnings growth (35.5% per year) is above the savings rate (0.2%).

Earnings vs Market: A3B's earnings (35.5% per year) are forecast to grow faster than the German market (27.3% per year).

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

Revenue vs Market: A3B's revenue (8.2% per year) is forecast to grow faster than the German market (5.8% per year).

High Growth Revenue: A3B's revenue (8.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: A3B's Return on Equity is forecast to be low in 3 years time (12.5%).


Next Steps

Past Performance

How has ACCO Brands performed over the past 5 years?

-0.02%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: A3B has high quality earnings.

Growing Profit Margin: A3B's current net profit margins (4.4%) are lower than last year (5.1%).


Past Earnings Growth Analysis

Earnings Trend: A3B's earnings have declined by 0.02% per year over the past 5 years.

Accelerating Growth: A3B's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: A3B had negative earnings growth (-23.1%) over the past year, making it difficult to compare to the Commercial Services industry average (-7.3%).


Return on Equity

High ROE: A3B's Return on Equity (10.4%) is considered low.


Next Steps

Financial Health

How is ACCO Brands's financial position?


Financial Position Analysis

Short Term Liabilities: A3B's short term assets ($765.0M) exceed its short term liabilities ($470.3M).

Long Term Liabilities: A3B's short term assets ($765.0M) do not cover its long term liabilities ($1.5B).


Debt to Equity History and Analysis

Debt Level: A3B's debt to equity ratio (125.8%) is considered high.

Reducing Debt: A3B's debt to equity ratio has reduced from 146.7% to 125.8% over the past 5 years.

Debt Coverage: A3B's debt is not well covered by operating cash flow (16.5%).

Interest Coverage: A3B's interest payments on its debt are well covered by EBIT (4.3x coverage).


Balance Sheet


Next Steps

Dividend

What is ACCO Brands's current dividend yield, its reliability and sustainability?

3.21%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: A3B's dividend (3.21%) is higher than the bottom 25% of dividend payers in the German market (1.13%).

High Dividend: A3B's dividend (3.21%) is low compared to the top 25% of dividend payers in the German market (3.64%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, A3B has been paying a dividend for less than 10 years.

Growing Dividend: A3B's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (32.8%), A3B's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

7.5yrs

Average management tenure


CEO

Boris Elisman (57 yo)

7.67yrs

Tenure

US$4,587,097

Compensation

Mr. Boris Y. Elisman has been the President of ACCO Brands Corporation since December 2010 and has been its Chief Executive Officer since March 31, 2013. Mr. Elisman served as the President of Kensington T...


CEO Compensation Analysis

Compensation vs Market: Boris's total compensation ($USD4.59M) is above average for companies of similar size in the German market ($USD1.28M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Boris Elisman
Chairman7.67yrsUS$4.59m1.17%
$ 7.5m
Neal Fenwick
Executive VP & CFO15.83yrsUS$2.61m0.67%
$ 4.3m
Pamela Schneider
Senior VP8.58yrsUS$1.11m0.16%
$ 1.0m
Thomas Tedford
Executive VP & President of ACCO Brands North America9.83yrsUS$1.61m0.28%
$ 1.8m
Cezary Monko
Executive VP & President3.67yrsUS$2.00m0.033%
$ 213.6k
Gregory McCormack
Senior Vice President of Global Products & Operations2.83yrsno data0.12%
$ 753.1k
James Dudek
Senior VP0.67yrno datano data
Stephen Byers
Senior VP & Chief Information Officer1.83yrsno datano data
Jennifer Rice
Vice President of Investor Relationsno datano datano data
Richard Nelson
Vice President of Corporate Communicationsno datano datano data
Mark Anderson
Senior Vice President of Corporate Development13.08yrsno data0.10%
$ 664.5k
Ralph Hargrow
Senior VP & Global Chief People Officer7.25yrsno data0.15%
$ 944.9k

7.5yrs

Average Tenure

57.5yo

Average Age

Experienced Management: A3B's management team is seasoned and experienced (7.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Boris Elisman
Chairman7.67yrsUS$4.59m1.17%
$ 7.5m
E. Rajkowski
Independent Director8.5yrsUS$210.00k0.062%
$ 396.2k
Thomas Kroeger
Independent Director10.92yrsUS$205.85k0.042%
$ 272.5k
Robert Keller
Independent Director15.25yrsUS$196.00k0.27%
$ 1.8m
Kathleen Dvorak
Independent Director10.5yrsUS$215.00k0.020%
$ 125.8k
Pradeep Jotwani
Independent Director6.83yrsUS$213.50k0%
$ 0
James Buzzard
Lead Independent Director3.5yrsUS$220.00k0.083%
$ 534.4k
Hans Norkus
Independent Director11.5yrsUS$207.00k0.12%
$ 761.9k
Ronald Lombardi
Independent Director2.67yrsUS$200.00k0.053%
$ 340.6k
Graciela Monteagudo
Independent Director4.25yrsUS$201.90k0%
$ 0

7.7yrs

Average Tenure

64yo

Average Age

Experienced Board: A3B's board of directors are considered experienced (7.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: A3B insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

ACCO Brands Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: ACCO Brands Corporation
  • Ticker: A3B
  • Exchange: DB
  • Founded: 1893
  • Industry: Office Services and Supplies
  • Sector: Commercial Services
  • Market Cap: US$766.369m
  • Listing Market Cap: US$643.674m
  • Shares outstanding: 94.50m
  • Website: https://www.accobrands.com

Number of Employees


Location

  • ACCO Brands Corporation
  • Four Corporate Drive
  • Lake Zurich
  • Illinois
  • 60047
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ACCONYSE (New York Stock Exchange)YesCommon StockUSUSDAug 2005
A3BDB (Deutsche Boerse AG)YesCommon StockDEEURAug 2005

Biography

ACCO Brands Corporation designs, manufactures, and markets consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. Th...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/26 19:45
End of Day Share Price2020/11/25 00:00
Earnings2020/09/30
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.