Ercros, S.A. manufactures and sells basic chemicals, intermediate chemicals, and pharmaceuticals in Spain. More Details
Excellent balance sheet and fair value.
Share Price & News
How has Ercros's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: ECR has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: ECR underperformed the Spanish Chemicals industry which returned 0.4% over the past year.
Return vs Market: ECR exceeded the Spanish Market which returned -26.2% over the past year.
Price Volatility Vs. Market
How volatile is Ercros's share price compared to the market and industry in the last 5 years?
Simply Wall St News
5 hours ago | Simply Wall StHow Much Of Ercros, S.A. (BME:ECR) Do Insiders Own?
1 week ago | Simply Wall StIs Ercros (BME:ECR) Using Too Much Debt?
3 weeks ago | Simply Wall StIs It Time To Consider Buying Ercros, S.A. (BME:ECR)?
Is Ercros undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: ECR (€1.75) is trading above our estimate of fair value (€1.31)
Significantly Below Fair Value: ECR is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: ECR is good value based on its PE Ratio (7.3x) compared to the XE Chemicals industry average (18.3x).
PE vs Market: ECR is good value based on its PE Ratio (7.3x) compared to the Spanish market (18.4x).
Price to Earnings Growth Ratio
PEG Ratio: ECR is poor value based on its PEG Ratio (1.3x)
Price to Book Ratio
PB vs Industry: ECR is good value based on its PB Ratio (0.6x) compared to the XE Chemicals industry average (1.6x).
How is Ercros forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ECR's forecast earnings growth (5.4% per year) is above the savings rate (1.3%).
Earnings vs Market: ECR's earnings (5.4% per year) are forecast to grow slower than the Spanish market (31.2% per year).
High Growth Earnings: ECR's earnings are forecast to grow, but not significantly.
Revenue vs Market: ECR's revenue (5.3% per year) is forecast to grow slower than the Spanish market (6.5% per year).
High Growth Revenue: ECR's revenue (5.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: ECR's Return on Equity is forecast to be low in 3 years time (6.2%).
How has Ercros performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ECR has a large one-off loss of €10.9M impacting its June 30 2020 financial results.
Growing Profit Margin: ECR's current net profit margins (4.1%) are higher than last year (4%).
Past Earnings Growth Analysis
Earnings Trend: ECR has become profitable over the past 5 years, growing earnings by 14.7% per year.
Accelerating Growth: ECR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: ECR had negative earnings growth (-7.6%) over the past year, making it difficult to compare to the Chemicals industry average (-9.8%).
Return on Equity
High ROE: ECR's Return on Equity (8.8%) is considered low.
How is Ercros's financial position?
Financial Position Analysis
Short Term Liabilities: ECR's short term assets (€188.9M) exceed its short term liabilities (€163.9M).
Long Term Liabilities: ECR's short term assets (€188.9M) exceed its long term liabilities (€149.9M).
Debt to Equity History and Analysis
Debt Level: ECR's debt to equity ratio (46.5%) is considered high.
Reducing Debt: ECR's debt to equity ratio has reduced from 89.7% to 46.5% over the past 5 years.
Debt Coverage: ECR's debt is well covered by operating cash flow (52.5%).
Interest Coverage: ECR's interest payments on its debt are well covered by EBIT (3.7x coverage).
What is Ercros's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: ECR's dividend (2.86%) is higher than the bottom 25% of dividend payers in the Spanish market (2.46%).
High Dividend: ECR's dividend (2.86%) is low compared to the top 25% of dividend payers in the Spanish market (7.17%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, ECR has been paying a dividend for less than 10 years.
Growing Dividend: ECR's dividend payments have increased, but the company has only paid a dividend for 4 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (21%), ECR's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of ECR's dividend in 3 years as they are not forecast to pay a notable one for the Spanish market.
How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Antonio Zabalza Marti (74 yo)
Mr. Antonio Zabalza Martí has been the Chairman of the Board and Chief Executive Officer of Ercros, S.A. since 1996. Mr. Martí has acted as a consultant for the World Bank, the International Monetary Fund ...
CEO Compensation Analysis
Compensation vs Market: Antonio's total compensation ($USD661.09K) is about average for companies of similar size in the Spanish market ($USD558.33K).
Compensation vs Earnings: Antonio's compensation has been consistent with company performance over the past year.
|Chairman & CEO||no data||€562.32k||0.088% |
|External Director||24.75yrs||€43.91k||0.000090% |
|External Director||4.33yrs||€43.91k||no data|
|Director||no data||no data||4.82% |
|Independent Director||4.33yrs||€43.91k||no data|
|Independent Director||3.58yrs||€43.91k||no data|
Experienced Board: ECR's board of directors are considered experienced (4.3 years average tenure).
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.
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 8.7%.
Ercros, S.A.'s company bio, employee growth, exchange listings and data sources
- Name: Ercros, S.A.
- Ticker: ECR
- Exchange: BME
- Founded: 1817
- Industry: Commodity Chemicals
- Sector: Materials
- Market Cap: €199.201m
- Shares outstanding: 114.09m
- Website: https://www.ercros.es
Number of Employees
- Ercros, S.A.
- Av. Diagonal, 593-595
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|ECR||BME (Bolsas y Mercados Espanoles)||Yes||Ordinary Shares||ES||EUR||Jan 1992|
|CRS1||DB (Deutsche Boerse AG)||Yes||Ordinary Shares||DE||EUR||Jan 1992|
|0M0E||LSE (London Stock Exchange)||Yes||Ordinary Shares||GB||EUR||Jan 1992|
|ECRE||BATS-CHIXE (BATS 'Chi-X Europe')||Yes||Ordinary Shares||GB||EUR||Jan 1992|
Ercros, S.A. manufactures and sells basic chemicals, intermediate chemicals, and pharmaceuticals in Spain. It operates through three divisions: Chlorine Derivatives, Intermediate Chemicals, and Pharmaceuti ...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/10/29 21:59|
|End of Day Share Price||2020/10/29 00:00|
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.