BME:TUB

Stock Analysis Report

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Executive Summary

Tubacex, S.A., together with its subsidiaries, manufactures and sells stainless steel and high-nickel alloy tubes and pipes worldwide. More Details


Snowflake Analysis

Reasonable growth potential with imperfect balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: TUB has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-8.4%

TUB

2.1%

ES Metals and Mining

0.6%

ES Market


1 Year Return

-58.4%

TUB

-17.5%

ES Metals and Mining

-22.3%

ES Market

Return vs Industry: TUB underperformed the Spanish Metals and Mining industry which returned -17.5% over the past year.

Return vs Market: TUB underperformed the Spanish Market which returned -22.3% over the past year.


Shareholder returns

TUBIndustryMarket
7 Day-8.4%2.1%0.6%
30 Day6.5%8.3%3.5%
90 Day-6.7%2.5%-3.2%
1 Year-58.4%-58.4%-17.5%-17.5%-20.0%-22.3%
3 Year-61.3%-61.9%10.8%-3.8%-19.7%-26.9%
5 Year-42.0%-43.3%112.4%68.5%-16.1%-28.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

0.52x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: TUB (€1.11) is trading above our estimate of fair value (€0.42)

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


Price To Earnings Ratio

PE vs Industry: TUB is unprofitable, so we can't compare its PE Ratio to the XE Metals and Mining industry average.

PE vs Market: TUB is unprofitable, so we can't compare its PE Ratio to the Spanish market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate TUB's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: TUB's PB Ratio (0.5x) is in line with the ES Metals and Mining industry average.


Next Steps

Future Growth

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

81.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TUB is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.3%).

Earnings vs Market: TUB is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: TUB's is expected to become profitable in the next 3 years.

Revenue vs Market: TUB's revenue (13.3% per year) is forecast to grow faster than the Spanish market (6.5% per year).

High Growth Revenue: TUB's revenue (13.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TUB's Return on Equity is forecast to be low in 3 years time (8.7%).


Next Steps

Past Performance

How has Tubacex performed over the past 5 years?

-4.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TUB is currently unprofitable.

Growing Profit Margin: TUB is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: TUB is unprofitable, and losses have increased over the past 5 years at a rate of 4.4% per year.

Accelerating Growth: Unable to compare TUB's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: TUB is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (-21.3%).


Return on Equity

High ROE: TUB has a negative Return on Equity (-0.21%), as it is currently unprofitable.


Next Steps

Financial Health

How is Tubacex's financial position?


Financial Position Analysis

Short Term Liabilities: TUB's short term assets (€554.6M) exceed its short term liabilities (€430.1M).

Long Term Liabilities: TUB's short term assets (€554.6M) exceed its long term liabilities (€291.1M).


Debt to Equity History and Analysis

Debt Level: TUB's debt to equity ratio (141%) is considered high.

Reducing Debt: TUB's debt to equity ratio has increased from 102.6% to 141% over the past 5 years.

Debt Coverage: TUB's debt is not well covered by operating cash flow (3.5%).

Interest Coverage: Insufficient data to determine if TUB's interest payments on its debt are well covered by EBIT.


Balance Sheet


Next Steps

Dividend

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

1.44%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate TUB's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate TUB's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TUB's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TUB's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: TUB is not paying a notable dividend for the Spanish market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TUB's dividend in 3 years as they are not forecast to pay a notable one for the Spanish market.


Next Steps

Management

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

2.5yrs

Average board tenure


CEO

Jesus Esmoris (56 yo)

7.75yrs

Tenure

€442,000

Compensation

Mr. Jesus Esmoris Esmoris has been the Chief Executive Officer of Tubacex, S.A. since January 28, 2013. Mr. Esmorís serves as the Managing Director of Business Development & Products at Cie Automotive, S.A ...


CEO Compensation Analysis

Compensation vs Market: Jesus's total compensation ($USD0.00) is below average for companies of similar size in the Spanish market ($USD546.41K).

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


Board Members

NamePositionTenureCompensationOwnership
Jesus Esmoris
CEO & Executive Director7.75yrs€442.00k0.40%
€ 559.9k
Antonio González Adalid García-Zozaya
Independent Vice President of the Board1.75yrs€74.00k0.12%
€ 166.2k
Álvaro Videgain Muro
President of the Board27.75yrs€164.00k0.15%
€ 206.3k
Jorge Sendagorta Gomendio
Independent Director2.42yrsno datano data
Manuel Munaiz
Independent Director5.58yrs€59.00kno data
Antonio María Pradera Jáuregui
Independent Director5.42yrs€44.00kno data
Nuria López De Guereñu Ansola
Independent Director5.42yrs€42.00k0.00040%
€ 559.2
Isabel Paños
Proprietary Director2.67yrsno datano data
Ivan Uliarte
Independent Director2.42yrsno data0.11%
€ 158.3k
Gema Mangdo
Proprietary Director1.42yrsno datano data
Rosa Garcia
Independent Director1.42yrsno data0.00032%
€ 447.4
Francisco Javier Garcia Sanz
Independent Director1.42yrsno datano data

2.5yrs

Average Tenure

66yo

Average Age

Experienced Board: TUB's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.


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.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

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


Key Information

  • Name: Tubacex, S.A.
  • Ticker: TUB
  • Exchange: BME
  • Founded: 1963
  • Industry: Steel
  • Sector: Materials
  • Market Cap: €139.805m
  • Shares outstanding: 126.18m
  • Website: https://www.tubacex.com

Number of Employees


Location

  • Tubacex, S.A.
  • Tres Cruces 8
  • Llodio
  • Basque Country
  • 1400
  • Spain

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TUBBME (Bolsas y Mercados Espanoles)YesOrdinary SharesESEURJan 1992
TCXDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
0KD1LSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
TUBEBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992
TUB NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNJan 1992

Biography

Tubacex, S.A., together with its subsidiaries, manufactures and sells stainless steel and high-nickel alloy tubes and pipes worldwide. The company offers hot and cold finished stainless steel pipes, welded ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/25 20:35
End of Day Share Price2020/10/23 00:00
Earnings2020/06/30
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.