Nabaltec (XTRA:NTG) - Share price, News & Analysis

NTG fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	3/6
Past Performance	2/6
Financial Health	6/6
Dividends	2/6

NTG Stock Overview

Nabaltec AG develops, manufactures, and distributes specialized products based on mineral raw materials in Germany, rest of Europe, the United States, and internationally.

Rewards

Trading at 52.3% below our estimate of its fair value

Earnings are forecast to grow 12.75% per year

Became profitable this year

Risk Analysis

No risks detected for NTG from our risk checks.

Nabaltec Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Nabaltec
Historical stock prices
Current Share Price	€29.20
52 Week High	€39.60
52 Week Low	€26.20
Beta	1.14
1 Month Change	-1.68%
3 Month Change	-20.22%
1 Year Change	-9.60%
3 Year Change	-14.12%
5 Year Change	70.26%
Change since IPO	73.81%

Recent News & Updates

Feb 20

Nabaltec's (ETR:NTG) Returns On Capital Are Heading Higher

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...

Shareholder Returns

	NTG	DE Chemicals	DE Market
7D	-3.9%	-1.9%	-2.0%
1Y	-9.6%	-18.1%	-11.8%

Return vs Industry: NTG exceeded the German Chemicals industry which returned -18.1% over the past year.

Return vs Market: NTG exceeded the German Market which returned -11.8% over the past year.

Price Volatility

Is NTG's price volatile compared to industry and market?
NTG volatility
NTG Average Weekly Movement	6.5%
Chemicals Industry Average Movement	6.5%
Market Average Movement	6.4%
10% most volatile stocks in DE Market	10.7%
10% least volatile stocks in DE Market	3.6%

Stable Share Price: NTG is not significantly more volatile than the rest of German stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: NTG's weekly volatility (7%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1994	481	Johannes Heckmann	https://www.nabaltec.de

Nabaltec AG develops, manufactures, and distributes specialized products based on mineral raw materials in Germany, rest of Europe, the United States, and internationally. It operates in two segments, Functional Fillers and Specialty Alumina. The Functional Fillers segment manufactures and distributes non-halogenated flame-retardant fillers for the plastics and cable industry, as well as additives.

Nabaltec Fundamentals Summary

How do Nabaltec's earnings and revenue compare to its market cap?
NTG fundamental statistics
Market Cap	€256.96m
Earnings (TTM)	€16.26m
Revenue (TTM)	€187.82m

15.8x

P/E Ratio

1.4x

P/S Ratio

Is NTG overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
NTG income statement (TTM)
Revenue	€187.82m
Cost of Revenue	€87.14m
Gross Profit	€100.68m
Other Expenses	€84.42m
Earnings	€16.26m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

May 31, 2022

Earnings per share (EPS)	1.85
Gross Margin	53.61%
Net Profit Margin	8.66%
Debt/Equity Ratio	61.7%

How did NTG perform over the long term?

See historical performance and comparison

Dividends

0.9%

Current Dividend Yield

14%

Payout Ratio

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: NTG (€29.2) is trading below our estimate of fair value (€61.16)

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

Price To Earnings Ratio

PE vs Industry: NTG is poor value based on its PE Ratio (15.8x) compared to the German Chemicals industry average (8.9x).

PE vs Market: NTG is good value based on its PE Ratio (15.8x) compared to the German market (17.5x).

Price to Earnings Growth Ratio

PEG Ratio: NTG is poor value based on its PEG Ratio (1.2x)

Price to Book Ratio

PB vs Industry: NTG is overvalued based on its PB Ratio (2.7x) compared to the DE Chemicals industry average (1.9x).

Future Growth

How is Nabaltec forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

12.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: NTG's forecast earnings growth (12.7% per year) is above the savings rate (-0.05%).

Earnings vs Market: NTG's earnings (12.7% per year) are forecast to grow faster than the German market (7.8% per year).

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

Revenue vs Market: NTG's revenue (10% per year) is forecast to grow faster than the German market (5.3% per year).

High Growth Revenue: NTG's revenue (10% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: NTG's Return on Equity is forecast to be low in 3 years time (17.9%).

Past Performance

How has Nabaltec performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-32.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: NTG has high quality earnings.

Growing Profit Margin: NTG became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: NTG's earnings have declined by 32.5% per year over the past 5 years.

Accelerating Growth: NTG has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: NTG has become profitable in the last year, making it difficult to compare its past year earnings growth to the Chemicals industry (59.2%).

Return on Equity

High ROE: NTG's Return on Equity (16.9%) is considered low.

Financial Health

How is Nabaltec's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: NTG's short term assets (€98.2M) exceed its short term liabilities (€79.6M).

Long Term Liabilities: NTG's short term assets (€98.2M) exceed its long term liabilities (€44.6M).

Debt to Equity History and Analysis

Debt Level: NTG's net debt to equity ratio (7.6%) is considered satisfactory.

Reducing Debt: NTG's debt to equity ratio has reduced from 147.8% to 61.7% over the past 5 years.

Debt Coverage: NTG's debt is well covered by operating cash flow (55.7%).

Interest Coverage: NTG's interest payments on its debt are well covered by EBIT (7.2x coverage).

Balance Sheet

Dividend

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

Dividend Score

2/6

Dividend Score 2/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

0.86%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: NTG's dividend (0.86%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.38%).

High Dividend: NTG's dividend (0.86%) is low compared to the top 25% of dividend payers in the German market (4.25%).

Stability and Growth of Payments

Stable Dividend: NTG has been paying a dividend for less than 10 years and during this time payments have been volatile.

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

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (13.5%), NTG's dividend payments are thoroughly covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (8.3%), NTG's dividend payments are thoroughly covered by cash flows.

Next Steps

Explore strong dividend paying companies in the Materials industry.

Management

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

5.3yrs

Average management tenure

CEO

Johannes Heckmann (56 yo)

15.67yrs

Tenure

Mr. Johannes Heckmann has been Chairman of Management Board and Chief Executive Officer at Nabaltec AG since January 01, 2017 and has been its Member of Management Board since September 2006. Mr. Heckmann...

Leadership Team

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

Board Members

Experienced Board: NTG's board of directors are seasoned and experienced ( 15.7 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.

Data	Last Updated (UTC time)
Company Analysis	2022/05/13 00:00
End of Day Share Price	2022/05/13 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31