BME:CIE

Stock Analysis Report

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Executive Summary

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


Snowflake Analysis

Solid track record with adequate balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: CIE's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

17.4%

CIE

10.3%

ES Auto Components

4.9%

ES Market


1 Year Return

-25.1%

CIE

-17.6%

ES Auto Components

-20.4%

ES Market

Return vs Industry: CIE underperformed the Spanish Auto Components industry which returned -23.4% over the past year.

Return vs Market: CIE underperformed the Spanish Market which returned -22.5% over the past year.


Shareholder returns

CIEIndustryMarket
7 Day17.4%10.3%4.9%
30 Day18.3%15.2%5.0%
90 Day-7.0%-9.6%-20.1%
1 Year-23.3%-25.1%-16.1%-17.6%-18.0%-20.4%
3 Year-16.6%-21.0%-39.8%-44.0%-25.9%-32.8%
5 Year25.8%15.3%-30.6%-37.7%-20.1%-32.9%

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

Valuation

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

7.64x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CIE (€15.89) is trading above our estimate of fair value (€11.17)

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


Price To Earnings Ratio

PE vs Industry: CIE is good value based on its PE Ratio (7.1x) compared to the Auto Components industry average (9.9x).

PE vs Market: CIE is good value based on its PE Ratio (7.1x) compared to the Spanish market (14.8x).


Price to Earnings Growth Ratio

PEG Ratio: CIE is good value based on its PEG Ratio (0.5x)


Price to Book Ratio

PB vs Industry: CIE is overvalued based on its PB Ratio (1.7x) compared to the XE Auto Components industry average (0.9x).


Next Steps

Future Growth

How is CIE Automotive forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

13.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CIE's forecast earnings growth (13% per year) is above the savings rate (1.3%).

Earnings vs Market: CIE's earnings (13% per year) are forecast to grow slower than the Spanish market (17.7% per year).

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

Revenue vs Market: CIE's revenue (7.5% per year) is forecast to grow faster than the Spanish market (5% per year).

High Growth Revenue: CIE's revenue (7.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CIE's Return on Equity is forecast to be low in 3 years time (19.8%).


Next Steps

Past Performance

How has CIE Automotive performed over the past 5 years?

16.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CIE has high quality earnings.

Growing Profit Margin: CIE's current net profit margins (8.3%) are higher than last year (6.4%).


Past Earnings Growth Analysis

Earnings Trend: CIE's earnings have grown by 16.7% per year over the past 5 years.

Accelerating Growth: CIE's earnings growth over the past year (45.6%) exceeds its 5-year average (16.7% per year).

Earnings vs Industry: CIE earnings growth over the past year (45.6%) exceeded the Auto Components industry -15.3%.


Return on Equity

High ROE: Whilst CIE's Return on Equity (25.86%) is high, this metric is skewed due to their high level of debt.


Next Steps

Financial Health

How is CIE Automotive's financial position?


Financial Position Analysis

Short Term Liabilities: CIE's short term assets (€1.4B) exceed its short term liabilities (€165.8M).

Long Term Liabilities: CIE's short term assets (€1.4B) do not cover its long term liabilities (€2.1B).


Debt to Equity History and Analysis

Debt Level: CIE's debt to equity ratio (130.5%) is considered high.

Reducing Debt: CIE's debt to equity ratio has reduced from 133.4% to 130.5% over the past 5 years.

Debt Coverage: CIE's debt is well covered by operating cash flow (36.2%).

Interest Coverage: CIE's interest payments on its debt are well covered by EBIT (12.1x coverage).


Balance Sheet


Next Steps

Dividend

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

4.36%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: CIE's dividend (4.66%) is higher than the bottom 25% of dividend payers in the Spanish market (2.73%).

High Dividend: CIE's dividend (4.66%) is low compared to the top 25% of dividend payers in the Spanish market (7.87%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (30.6%), CIE's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CIE's dividends in 3 years are forecast to be well covered by earnings (29.3% payout ratio).


Next Steps

Management

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

11.3yrs

Average board tenure


CEO

Jesus Maria Herrera Barandiaran (52yo)

7.33yrs

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 ($USD0.00) is below average for companies of similar size in the Spanish market ($USD1.09M).

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


Board Members

NamePositionTenureCompensationOwnership
Jesus Maria Herrera Barandiaran
CEO & Executive Director7.33yrs€1.14m1.35% 29.6m
Fermín del Río Sanz de Acedo
Executive Director14.42yrs€2.14m0.020% 438.1k
Francisco José Riberas de Mera
Proprietary Director9.58yrsno datano data
Antonio María Pradera Jáuregui
Proprietary Chairman18.33yrs€2.21mno data
Jacobo Llanza Figueroa
Proprietary Director15yrsno datano data
Goizalde Egaña Garitagoitia
Vice Chairwomanno datano datano data
María Teresa Salegui Arbizu
Proprietary Director13.08yrsno datano data
Juan María Riberas Mera
Proprietary Director9.58yrsno datano data
M. Carlos Solchaga Catalán
Lead Independent Directorno data€120.00kno data
Ángel Manuel Ochoa Crespo
Independent Director9.58yrs€80.00kno data

11.3yrs

Average Tenure

55yo

Average Age

Experienced Board: CIE's board of directors are seasoned and experienced ( 11.3 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

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


Key Information

  • Name: CIE Automotive, S.A.
  • Ticker: CIE
  • Exchange: BME
  • Founded: 1996
  • Industry: Auto Parts and Equipment
  • Sector: Automobiles
  • Market Cap: €2.190b
  • 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
CUOT.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 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 steering products, such as body in white, hubs, outer rings and spindles, steering column brackets, EPS main housings and components, steering nuts, airbag frames, steering housings, brake boosters, steering column tubes, rear axles, and seat structures; and exterior/interior trim products comprising arm rests, storage compartments, central consoles, ashtrays, glove compartments, in mold decorations, trim parts, emblems, rear-view mirrors, crossbeams, and front covers. The company also provides axle beams and spindles, brake camshafts, axle shafts, rear axle assemblies, pistons, levers, air suspension brackets, spindles, stabilizer bars, and sector shafts; and engine products, including crankshafts, crankshaft caps, diesel and gasoline common rails, ladder frames, camshaft covers and bearings, camshaft bearings housings, valve guides, brackets, exhaust air duct tubes, air tanks, and oil pans. In addition, it offers transmission and gearbox products, such as mechanical and gearbox housings, clutch and transmission housings, pistons, gearbox components and oil pans, differential cases, planetary carriers, flanges, axle shafts, CVT and hybrid components, crowns, and forging parts for CV-joints. Further, the company is involved in the services and installations, waste management and recovery, scrap, real estate, electricity production and sale, agro-biotechnology, fatty oils marketing, and biofuel production and sale businesses. It offers its products to original equipment manufacturers and TIER-1 suppliers. CIE Automotive, S.A. was founded in 1996 and is headquartered in Bilbao, Spain. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/28 21:54
End of Day Share Price2020/05/28 00:00
Earnings2020/03/31
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.