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Chr. Hansen Holding

CPSE:CHR
Snowflake Description

Solid track record with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CHR
CPSE
DKK78B
Market Cap
  1. Home
  2. DK
  3. Materials
Company description

Chr. Hansen Holding A/S, a bioscience company, develops and sells natural solutions for food, nutritional, pharmaceutical, and agricultural industries in Europe, the Middle East, Africa, North America, Latin America, and the Asia-Pacific. The last earnings update was 28 days ago. More info.


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  • Chr. Hansen Holding has significant price volatility in the past 3 months.
CHR Share Price and Events
7 Day Returns
2.4%
CPSE:CHR
-0.3%
Europe Chemicals
0%
DK Market
1 Year Returns
-10.2%
CPSE:CHR
-8.3%
Europe Chemicals
1.2%
DK Market
CHR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Chr. Hansen Holding (CHR) 2.4% -18.6% -8.6% -10.2% 43.2% 157.2%
Europe Chemicals -0.3% -1.7% -5.4% -8.3% 15.3% 19.3%
DK Market 0% -1.1% 1% 1.2% 12.1% 39.8%
1 Year Return vs Industry and Market
  • CHR underperformed the Chemicals industry which returned -8.3% over the past year.
  • CHR underperformed the Market in Denmark which returned 1.2% over the past year.
Price Volatility
CHR
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Chr. Hansen Holding undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Chr. Hansen Holding to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Chr. Hansen Holding.

CPSE:CHR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.9%
Perpetual Growth Rate 10-Year DK Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for CPSE:CHR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DK Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Chemicals Unlevered Beta Simply Wall St/ S&P Global 0.89
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.886 (1 + (1- 22%) (7.74%))
0.96
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.96
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.21% + (0.96 * 5.96%)
5.93%

Discounted Cash Flow Calculation for CPSE:CHR using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Chr. Hansen Holding is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

CPSE:CHR DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 5.93%)
2020 213.32 Analyst x9 201.37
2021 235.99 Analyst x8 210.29
2022 237.80 Analyst x1 200.04
2023 239.23 Est @ 0.6% 189.97
2024 240.38 Est @ 0.48% 180.19
2025 241.35 Est @ 0.4% 170.79
2026 242.19 Est @ 0.35% 161.78
2027 242.93 Est @ 0.31% 153.18
2028 243.60 Est @ 0.28% 145.01
2029 244.24 Est @ 0.26% 137.24
Present value of next 10 years cash flows €1,749.85
CPSE:CHR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €244.24 × (1 + 0.21%) ÷ (5.93% – 0.21%)
€4,278.76
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €4,278.76 ÷ (1 + 5.93%)10
€2,404.26
CPSE:CHR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €1,749.85 + €2,404.26
€4,154.11
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €4,154.11 / 131.65
€31.55
CPSE:CHR Discount to Share Price
Calculation Result
Exchange Rate EUR/DKK
(Reporting currency to currency of CPSE:CHR)
7.465
Value per Share
(DKK)
= Value per Share in EUR x Exchange Rate (EUR/DKK)
= €31.55 x 7.465
DKK235.56
Value per share (DKK) From above. DKK235.56
Current discount Discount to share price of DKK600.40
= -1 x (DKK600.40 - DKK235.56) / DKK235.56
-154.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Chr. Hansen Holding is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Chr. Hansen Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Chr. Hansen Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
CPSE:CHR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-05-31) in EUR €1.86
CPSE:CHR Share Price ** CPSE (2019-07-23) in DKK DKK600.4
CPSE:CHR Share Price converted to EUR reporting currency Exchange rate (DKK/ EUR) 0.134 €80.42
Europe Chemicals Industry PE Ratio Median Figure of 90 Publicly-Listed Chemicals Companies 16.93x
Denmark Market PE Ratio Median Figure of 99 Publicly-Listed Companies 17.93x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Chr. Hansen Holding.

CPSE:CHR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= CPSE:CHR Share Price ÷ EPS (both in EUR)

= 80.42 ÷ 1.86

43.16x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Chr. Hansen Holding is overvalued based on earnings compared to the Europe Chemicals industry average.
  • Chr. Hansen Holding is overvalued based on earnings compared to the Denmark market.
Price based on expected Growth
Does Chr. Hansen Holding's expected growth come at a high price?
Raw Data
CPSE:CHR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 43.16x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
10.1%per year
Europe Chemicals Industry PEG Ratio Median Figure of 60 Publicly-Listed Chemicals Companies 1.78x
Denmark Market PEG Ratio Median Figure of 43 Publicly-Listed Companies 1.74x

*Line of best fit is calculated by linear regression .

CPSE:CHR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 43.16x ÷ 10.1%

4.26x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Chr. Hansen Holding is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Chr. Hansen Holding's assets?
Raw Data
CPSE:CHR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-05-31) in EUR €6.29
CPSE:CHR Share Price * CPSE (2019-07-23) in DKK DKK600.4
CPSE:CHR Share Price converted to EUR reporting currency Exchange rate (DKK/ EUR) 0.134 €80.42
Europe Chemicals Industry PB Ratio Median Figure of 142 Publicly-Listed Chemicals Companies 1.72x
Denmark Market PB Ratio Median Figure of 135 Publicly-Listed Companies 1.54x
CPSE:CHR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= CPSE:CHR Share Price ÷ Book Value per Share (both in EUR)

= 80.42 ÷ 6.29

12.78x

* Primary Listing of Chr. Hansen Holding.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Chr. Hansen Holding is overvalued based on assets compared to the Europe Chemicals industry average.
X
Value checks
We assess Chr. Hansen Holding's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Chemicals industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Chemicals industry average (and greater than 0)? (1 check)
  5. Chr. Hansen Holding has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Chr. Hansen Holding expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
10.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Chr. Hansen Holding expected to grow at an attractive rate?
  • Chr. Hansen Holding's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Chr. Hansen Holding's earnings growth is positive but not above the Denmark market average.
  • Chr. Hansen Holding's revenue growth is expected to exceed the Denmark market average.
Annual Growth Rates Comparison
Raw Data
CPSE:CHR Future Growth Rates Data Sources
Data Point Source Value (per year)
CPSE:CHR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 10.1%
CPSE:CHR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 7.4%
Europe Chemicals Industry Earnings Growth Rate Market Cap Weighted Average 9%
Europe Chemicals Industry Revenue Growth Rate Market Cap Weighted Average 3.5%
Denmark Market Earnings Growth Rate Market Cap Weighted Average 10.8%
Denmark Market Revenue Growth Rate Market Cap Weighted Average 6.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
CPSE:CHR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
CPSE:CHR Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-08-31 1,571 387 2
2022-08-31 1,459 342 4
2021-08-31 1,366 374 313 10
2020-08-31 1,262 343 283 12
2019-08-31 1,170 315 253 12
CPSE:CHR Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-05-31 1,152 306 246
2019-02-28 1,132 313 240
2018-11-30 1,112 295 233
2018-08-31 1,097 302 228
2018-05-31 1,084 271 226
2018-02-28 1,080 270 224
2017-11-30 1,075 286 224
2017-08-31 1,063 284 224
2017-05-31 1,035 290 212
2017-02-28 1,007 260 205
2016-11-30 976 246 192
2016-08-31 949 245 184

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Chr. Hansen Holding's earnings are expected to grow by 10.1% yearly, however this is not considered high growth (20% yearly).
  • Chr. Hansen Holding's revenue is expected to grow by 7.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
CPSE:CHR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from Chr. Hansen Holding Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CPSE:CHR Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-08-31
2022-08-31 2.53 2.53 2.53 1.00
2021-08-31 2.37 2.53 2.32 10.00
2020-08-31 2.15 2.19 2.11 12.00
2019-08-31 1.92 1.96 1.90 12.00
CPSE:CHR Past Financials Data
Date (Data in EUR Millions) EPS *
2019-05-31 1.86
2019-02-28 1.82
2018-11-30 1.77
2018-08-31 1.73
2018-05-31 1.71
2018-02-28 1.70
2017-11-30 1.69
2017-08-31 1.70
2017-05-31 1.62
2017-02-28 1.56
2016-11-30 1.47
2016-08-31 1.41

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Chr. Hansen Holding is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Chr. Hansen Holding's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Chr. Hansen Holding has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Chr. Hansen Holding performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Chr. Hansen Holding's growth in the last year to its industry (Chemicals).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Chr. Hansen Holding's year on year earnings growth rate has been positive over the past 5 years.
  • Chr. Hansen Holding's 1-year earnings growth is less than its 5-year average (8.6% vs 12.5%)
  • Chr. Hansen Holding's earnings growth has exceeded the Europe Chemicals industry average in the past year (8.6% vs 2.3%).
Earnings and Revenue History
Chr. Hansen Holding's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Chr. Hansen Holding Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CPSE:CHR Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-05-31 1,151.70 245.70 228.10 76.60
2019-02-28 1,132.40 239.70 222.80 75.40
2018-11-30 1,112.30 232.80 217.60 73.70
2018-08-31 1,097.40 228.20 209.70 73.40
2018-05-31 1,083.90 226.30 207.60 74.40
2018-02-28 1,079.60 223.70 205.90 72.70
2017-11-30 1,075.30 223.50 206.20 71.80
2017-08-31 1,062.50 224.00 205.10 69.80
2017-05-31 1,035.30 211.70 199.20 66.50
2017-02-28 1,006.70 205.40 193.30 65.10
2016-11-30 976.20 191.90 183.30 62.80
2016-08-31 948.90 183.80 178.60 59.70
2016-05-31 926.70 179.40 174.60 56.90
2016-02-29 905.00 173.50 169.50 54.40
2015-11-30 884.90 171.60 167.60 52.70
2015-08-31 858.60 162.50 163.00 51.00
2015-05-31 830.30 149.50 158.10 49.30
2015-02-28 800.30 141.30 152.20 46.30
2014-11-30 773.00 132.80 150.20 45.10
2014-08-31 756.20 132.20 146.60 43.20
2014-05-31 744.80 144.60 148.20 41.50
2014-02-28 738.30 142.00 149.90 39.80
2013-11-30 731.20 135.20 151.10 36.80
2013-08-31 738.40 137.80 151.90 34.80
2013-05-31 729.50 125.60 166.30 20.10
2013-02-28 719.10 125.30 158.30 24.30
2012-11-30 709.60 135.10 148.90 27.00
2012-08-31 698.70 129.30 141.20 30.90

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Chr. Hansen Holding has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Chr. Hansen Holding used its assets more efficiently than the Europe Chemicals industry average last year based on Return on Assets.
  • Chr. Hansen Holding has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Chr. Hansen Holding's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Chemicals industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Chr. Hansen Holding has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Chr. Hansen Holding's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Chr. Hansen Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Chr. Hansen Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Chr. Hansen Holding's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Chr. Hansen Holding's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Chr. Hansen Holding Company Filings, last reported 1 month ago.

CPSE:CHR Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-05-31 837.00 808.30 68.30
2019-02-28 772.50 839.20 54.20
2018-11-30 713.10 763.00 48.90
2018-08-31 771.60 727.80 69.10
2018-05-31 809.50 729.90 57.30
2018-02-28 747.90 777.40 44.70
2017-11-30 702.90 699.30 52.80
2017-08-31 768.50 701.40 73.00
2017-05-31 798.70 691.20 62.20
2017-02-28 762.00 751.70 60.60
2016-11-30 696.70 706.70 61.50
2016-08-31 730.30 667.70 119.80
2016-05-31 667.20 724.60 58.70
2016-02-29 606.30 763.80 49.20
2015-11-30 563.80 568.10 55.40
2015-08-31 600.80 564.00 76.40
2015-05-31 694.20 509.00 71.40
2015-02-28 655.70 530.40 53.00
2014-11-30 625.40 481.80 49.80
2014-08-31 656.80 461.10 57.60
2014-05-31 641.30 485.40 46.90
2014-02-28 629.60 500.10 54.50
2013-11-30 621.20 425.00 69.90
2013-08-31 680.70 433.00 77.50
2013-05-31 653.50 467.50 60.20
2013-02-28 626.30 481.70 35.60
2012-11-30 609.60 459.60 39.30
2012-08-31 660.60 431.80 60.50
  • Chr. Hansen Holding's level of debt (96.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (75.6% vs 96.6% today).
  • Debt is well covered by operating cash flow (37.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 48.1x coverage).
X
Financial health checks
We assess Chr. Hansen Holding's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Chr. Hansen Holding has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Chr. Hansen Holding's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.07%
Current annual income from Chr. Hansen Holding dividends. Estimated to be 1.82% next year.
If you bought DKK2,000 of Chr. Hansen Holding shares you are expected to receive DKK41 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Chr. Hansen Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Denmark (1.58%).
  • Chr. Hansen Holding's dividend is below the markets top 25% of dividend payers in Denmark (4.58%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
CPSE:CHR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
Europe Chemicals Industry Average Dividend Yield Market Cap Weighted Average of 76 Stocks 3.1%
Denmark Market Average Dividend Yield Market Cap Weighted Average of 76 Stocks 2.2%
Denmark Minimum Threshold Dividend Yield 10th Percentile 0.9%
Denmark Bottom 25% Dividend Yield 25th Percentile 1.6%
Denmark Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

CPSE:CHR Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-08-31
2022-08-31 1.29 2.00
2021-08-31 1.56 10.00
2020-08-31 1.44 12.00
2019-08-31 1.45 12.00
CPSE:CHR Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-11-29 1.661 1.905
2018-10-15 1.670 1.933
2018-06-28 1.644 1.910
2017-11-28 0.849 1.139
2017-10-25 0.850 1.120
2017-10-24 0.850 1.175
2016-11-29 0.703 1.141
2016-10-26 0.700 1.341
2015-11-26 1.259 2.272
2015-10-21 1.260 2.236
2015-07-01 1.760 3.666
2014-10-23 0.510 1.312
2014-10-22 0.510 1.669
2013-10-23 0.420 1.420
2012-10-31 0.390 1.494
2011-11-03 0.480 2.407
2011-08-31 0.480 3.104
2010-11-02 0.086 0.547

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Chr. Hansen Holding has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Chr. Hansen Holding only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Chr. Hansen Holding's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
X
Income/ dividend checks
We assess Chr. Hansen Holding's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Chr. Hansen Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Chr. Hansen Holding has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Chr. Hansen Holding's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Mauricio Graber
COMPENSATION €1,260,000
AGE 56
TENURE AS CEO 1.1 years
CEO Bio

Mr. Mauricio Graber has been Chief Executive Officer, President and Member of Executive Board of Chr. Hansen Holding A/S since joining it on June 1, 2018. Mr. Graber served as the President of Flavour Division at Givaudan AG from July 2006 to April 2018. Mr. Graber served with Givaudan for 23 years. His professional career started in 1989 with The Nutrasweet Company in the USA as Business Development Manager. After two years in the role, he returned to Mexico in 1991 to become Regional Head of North Latin America. In 1995, he joined Tastemaker as Regional President of Latin America. Over the past 10 years he has led Givaudan Flavours to strengthen its global industry leadership position. He has built a customer centric culture, accelerated commercialization of innovation, invested in developing markets, driven productivity programs, and delivered both organic growth and successful integration of strategic acquisitions. In addition, he has developed internal talents and built a strong organization. Mr. Graber has a BSc in Electronic Engineering from Universidad Autonoma Metroplitana and a Masters in Management/Master of Business Administration from the JL Kellogg Graduate School of Management, Northwestern University, US.

CEO Compensation
  • Insufficient data for Mauricio to compare compensation growth.
  • Mauricio's remuneration is lower than average for companies of similar size in Denmark.
Management Team Tenure

Average tenure and age of the Chr. Hansen Holding management team in years:

2.8
Average Tenure
50.5
Average Age
  • The tenure for the Chr. Hansen Holding management team is about average.
Management Team

Mauricio Graber

TITLE
CEO, President & Member of Executive Board
COMPENSATION
€1M
AGE
56
TENURE
1.1 yrs

Søren Lonning

TITLE
CFO, Executive VP & Member of Executive Board
COMPENSATION
€740K
AGE
42
TENURE
3.9 yrs

Thomas Schäfer

TITLE
Executive VP
COMPENSATION
€358K
AGE
56
TENURE
1.7 yrs

Torsten Steenholt

TITLE
Executive Vice President of Global Operations
AGE
50
TENURE
2.5 yrs

Martin Riise

TITLE
Head of Investor Relations

Winnie Bügel

TITLE
Corporate Vice President of Compliance
AGE
54
TENURE
3.1 yrs

Camilla Lercke

TITLE
Head of Media Relations

Alice Larsen

TITLE
Corporate Vice President of Global Human Resources
AGE
51
TENURE
3 yrs

Jacob Paulsen

TITLE
Executive Vice President of Food Cultures & Enzymes
AGE
43
TENURE
2.8 yrs

Christian Barker

TITLE
Executive Vice President of Health & Nutrition
AGE
49
Board of Directors Tenure

Average tenure and age of the Chr. Hansen Holding board of directors in years:

1.7
Average Tenure
59
Average Age
  • The average tenure for the Chr. Hansen Holding board of directors is less than 3 years, this suggests a new board.
Board of Directors

Dominique J. Reiniche

TITLE
Chairman of the Board
COMPENSATION
€160K
AGE
64
TENURE
0.7 yrs

Jesper Brandgaard

TITLE
Vice Chairman
COMPENSATION
€60K
AGE
56

Mark Wilson

TITLE
Independent Director
COMPENSATION
€130K
AGE
67
TENURE
8.8 yrs

Luis Rocamora

TITLE
Independent Director
COMPENSATION
€90K
AGE
67
TENURE
2.7 yrs

Per Poulsen

TITLE
Employee Representative Director
COMPENSATION
€60K
AGE
53
TENURE
5.7 yrs

Kristian Villumsen

TITLE
Independent Director
COMPENSATION
€90K
AGE
49
TENURE
4.7 yrs

Lisbeth Grubov

TITLE
Employee Representative Director
COMPENSATION
€40K
AGE
64
TENURE
1.7 yrs

Charlotte Hemmingsen

TITLE
Employee Representative Director
COMPENSATION
€40K
AGE
55
TENURE
1.7 yrs

Heidi Kleinbach-Sauter

TITLE
Director
COMPENSATION
€60K
AGE
62
TENURE
1.7 yrs

Kim Soerensen

TITLE
Employee Representative Director
COMPENSATION
€40K
AGE
56
TENURE
1.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (DKK) Value (DKK)
X
Management checks
We assess Chr. Hansen Holding's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Chr. Hansen Holding has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Does Chr. Hansen Holding A/S's (CPH:CHR) 8.6% Earnings Growth Reflect The Long-Term Trend?

Hansen Holding A/S's (CPH:CHR) most recent earnings announcement (31 May 2019), I found it useful to look back at how the company has performed in the past and compare this against the latest numbers. … Hansen Holding has a good historical track record with positive growth and profitability, there's no certainty that this will extrapolate into the future. … Hansen Holding to get a better picture of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for CHR’s future growth?

Simply Wall St -

Is Chr. Hansen Holding A/S's (CPH:CHR) 29% ROE Better Than Average?

Hansen Holding How Do You Calculate Return On Equity? … Hansen Holding: 29% = €246m ÷ €837m (Based on the trailing twelve months to May 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Hansen Holding's Debt And Its 29% Return On Equity Chr.

Simply Wall St -

We Think Chr. Hansen Holding (CPH:CHR) Can Stay On Top Of Its Debt

Hansen Holding A/S (CPH:CHR) does carry debt. … Hansen Holding does have net debt, we think it is worthwhile for shareholders to keep an eye on the balance sheet, over time. … Hansen Holding recorded free cash flow worth 57% of its EBIT, which is around normal, given free cash flow excludes interest and tax.

Simply Wall St -

Here's Why Chr. Hansen Holding (CPH:CHR) Can Manage Its Debt Responsibly

Hansen Holding does have net debt, we think it is worthwhile for shareholders to keep an eye on the balance sheet, over time. … Hansen Holding can strengthen its balance sheet over time. … Hansen Holding recorded free cash flow worth 57% of its EBIT, which is around normal, given free cash flow excludes interest and tax.

Simply Wall St -

Announcing: Chr. Hansen Holding (CPH:CHR) Stock Increased An Energizing 228% In The Last Five Years

Hansen Holding managed to grow its earnings per share at 11% a year. … This EPS growth is slower than the share price growth of 27% per year, over the same period. … Hansen Holding shareholders have received a total shareholder return of 23% over the last year.

Simply Wall St -

Does Chr. Hansen Holding A/S (CPH:CHR) Have A Place In Your Dividend Portfolio?

CPSE:CHR Historical Dividend Yield, June 10th 2019 Payout ratios Companies (usually) pay dividends out of their earnings. If a company is paying more than it earns, the dividend might have to be cut. As a result, we should always investigate whether a company can afford its dividend, measured as a percentage of a company's net income after tax. Chr. Hansen Holding paid out 48% of its profit as dividends, over the trailing twelve month period. This is medium payout level that leaves enough capital in the business to fund opportunities that might arise, while also rewarding shareholders. Plus, there is room to increase the payout ratio over time. In addition to comparing dividends against profits, we should inspect whether the company generated enough cash to pay its dividend. Chr. Hansen Holding paid out 59% of its free cash flow last year, which is acceptable, but is starting to limit the amount of earnings that can be reinvested into the business. It's positive to see that Chr. Hansen Holding's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut. Is Chr. Hansen Holding's Balance Sheet Risky? As Chr. Hansen Holding has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Chr. Hansen Holding has grown its earnings per share at 12% per annum over the past five years. A company paying out less than a quarter of its earnings as dividends, and growing earnings at more than 10% per annum, looks to be right in the cusp of its growth phase. At the right price, we might be interested. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. … Earnings growth generally bodes well for the future value of company dividend payments.

Simply Wall St -

What does Chr. Hansen Holding A/S's (CPH:CHR) Balance Sheet Tell Us About Its Future?

With this increase in debt, CHR's cash and short-term investments stands at €54m , ready to be used for running the business. … On top of this, CHR has generated cash from operations of €313m in the last twelve months, leading to an operating cash to total debt ratio of 37%, meaning that CHR’s current level of operating cash is high enough to cover debt. … Next Steps: CHR’s high cash coverage means that, although its debt levels are high, the company is able to utilise its borrowings efficiently in order to generate cash flow.

Simply Wall St -

Is Chr. Hansen Holding A/S's (CPH:CHR) Future Growth Already Accounted For In Today's Price?

Hansen Holding is trading at price-to-earnings (PE) ratio of 52.5x, this tells us the stock is overvalued compared to the DK market average ratio of 16.24x , and overvalued based on current earnings compared to the Chemicals industry average of 18.63x. … CPSE:CHR Price Estimation Relative to Market, May 20th 2019 We understand CHR seems to be overvalued based on its current earnings, compared to its industry peers. … Hansen Holding appears overvalued , based on its fundamentals.

Simply Wall St -

Do Institutions Own Chr. Hansen Holding A/S (CPH:CHR) Shares?

Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … We also tend to see lower insider ownership in companies that were previously publicly owned. … Hansen Holding CPSE:CHR Ownership Summary, May 10th 2019 What Does The Institutional Ownership Tell Us About Chr.

Simply Wall St -

What Should We Expect From Chr. Hansen Holding A/S's (CPH:CHR) Earnings Over The Next Year?

Help shape the future of investing tools and you could win a $250 gift card! … Hansen Holding A/S (CPH:CHR) released its earnings update. … with earnings expected to grow by 15% in the upcoming year

Simply Wall St -

Company Info

Description

Chr. Hansen Holding A/S, a bioscience company, develops and sells natural solutions for food, nutritional, pharmaceutical, and agricultural industries in Europe, the Middle East, Africa, North America, Latin America, and the Asia-Pacific. The company operates in three segments: Food Cultures & Enzymes, Health & Nutrition, and Natural Colors. The Food Cultures & Enzymes segment produces and sells various cultures, enzymes, and probiotic products that determine the taste, flavor, texture, shelf life, nutritional value, and health benefits of various consumer products in the food industry, primarily in the dairy industry. The Health & Nutrition segment produces and sells products for the dietary supplement, over-the-counter pharmaceutical, infant formula, animal feed, and plant protection industries. The Natural Colors segment supplies natural color solutions to the food and beverage industry, including beverage, confectionery, ice cream, dairy, fruit preparation, and prepared food industries. Chr. Hansen Holding A/S was founded in 1874 and is headquartered in Hørsholm, Denmark.

Details
Name: Chr. Hansen Holding A/S
CHR
Exchange: CPSE
Founded: 1874
DKK77,939,533,856
131,654,618
Website: http://www.chr-hansen.com
Address: Chr. Hansen Holding A/S
Bøge Allé 10-12,
Hørsholm,
Capital Region of Denmark, 2970,
Denmark
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
CPSE CHR Share Capital OMX Nordic Exchange Copenhagen DK DKK 03. Jun 2010
OTCPK CRTS.F Share Capital Pink Sheets LLC US USD 03. Jun 2010
DB 51C Share Capital Deutsche Boerse AG DE EUR 03. Jun 2010
LSE 0MR6 Share Capital London Stock Exchange GB DKK 03. Jun 2010
BATS-CHIXE CHRC Share Capital BATS 'Chi-X Europe' GB DKK 03. Jun 2010
OTCPK CHYH.Y SPONSORED ADS Pink Sheets LLC US USD 18. May 2012
Number of employees
Current staff
Staff numbers
3,304
Chr. Hansen Holding employees.
Industry
Specialty Chemicals
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/24 00:10
End of day share price update: 2019/07/23 00:00
Last estimates confirmation: 2019/07/16
Last earnings filing: 2019/06/26
Last earnings reported: 2019/05/31
Last annual earnings reported: 2018/08/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.