Naturhouse Health (BME:NTH) - Share price, News & Analysis

Q: What is the Fair Price of NTH when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

NTH (€1.8) is trading below our estimate of [[fair value]] (€3.67)

NTH fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	1/6
Past Performance	4/6
Financial Health	5/6
Dividends	4/6

NTH Stock Overview

Naturhouse Health, S.A. operates in the nutrition and weight management industry in Spain, Italy, France, Poland, and internationally.

Rewards

Trading at 51% below our estimate of its fair value

Revenue is forecast to grow 5.18% per year

Earnings grew by 94.5% over the past year

Risk Analysis

Earnings have declined by 15.2% per year over past 5 years

High level of non-cash earnings

Unstable dividend track record

Naturhouse Health Competitors

MOG Holdings

SEHK:1942

HK$855.0m

Abdullah Saad Mohammed Abo Moati for Bookstores

SASE:4191

ر.س608.0m

Formosa Optical TechnologyLtd

TPEX:5312

NT$3.8b

HIMARAYALtd

TSE:7514

JP¥12.1b

Price History & Performance

Summary of all time highs, changes and price drops for Naturhouse Health
Historical stock prices
Current Share Price	€1.80
52 Week High	€2.14
52 Week Low	€1.61
Beta	1.47
1 Month Change	0.56%
3 Month Change	-4.51%
1 Year Change	7.78%
3 Year Change	-14.89%
5 Year Change	-58.21%
Change since IPO	-63.93%

Recent News & Updates

Sep 22

What Does Naturhouse Health, S.A.'s (BME:NTH) Share Price Indicate?

While Naturhouse Health, S.A. ( BME:NTH ) might not be the most widely known stock at the moment, it saw a double-digit...

Shareholder Returns

	NTH	ES Specialty Retail	ES Market
7D	3.2%	0.6%	0.6%
1Y	7.8%	-29.9%	-8.1%

Return vs Industry: NTH exceeded the Spanish Specialty Retail industry which returned -29.6% over the past year.

Return vs Market: NTH exceeded the Spanish Market which returned -7.6% over the past year.

Price Volatility

Is NTH's price volatile compared to industry and market?
NTH volatility
NTH Average Weekly Movement	2.7%
Specialty Retail Industry Average Movement	5.9%
Market Average Movement	3.7%
10% most volatile stocks in ES Market	6.8%
10% least volatile stocks in ES Market	1.3%

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

Volatility Over Time: NTH's weekly volatility (3%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1991	263	Felix Revuelta Fernandez	https://www.naturhouse.com

Naturhouse Health, S.A. operates in the nutrition and weight management industry in Spain, Italy, France, Poland, and internationally. The company sells food supplements that are made from natural extracts to facilitate the consumption of various nutrients; and foods and drinks, such as diet products for breakfast, snacks, and meal substitutes. It also offers cosmetics and body care products, including beauty products related to skincare during the slimming process comprising cellulite, firming products, etc.; and anti-ageing products.

Naturhouse Health Fundamentals Summary

How do Naturhouse Health's earnings and revenue compare to its market cap?
NTH fundamental statistics
Market Cap	€107.91m
Earnings (TTM)	€18.24m
Revenue (TTM)	€57.59m

5.9x

P/E Ratio

1.9x

P/S Ratio

Is NTH overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
NTH income statement (TTM)
Revenue	€57.59m
Cost of Revenue	€16.34m
Gross Profit	€41.26m
Other Expenses	€23.02m
Earnings	€18.24m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	0.30
Gross Margin	71.64%
Net Profit Margin	31.67%
Debt/Equity Ratio	12.1%

How did NTH perform over the long term?

See historical performance and comparison

Dividends

11.1%

Current Dividend Yield

67%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is NTH undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NTH?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for NTH. This is calculated by dividing NTH's market cap by their current preferred multiple.
What is NTH's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	€107.91m

NTH key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	1.5x
Enterprise Value/EBITDA	4.2x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does NTH's PE Ratio compare to its peers?

NTH PE Ratio vs Peers

The above table shows the PE ratio for NTH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	29.1x
1942 MOG Holdings	54.8x	n/a	HK$855.0m
4191 Abdullah Saad Mohammed Abo Moati for Bookstores	39.9x	n/a	ر.س608.0m
5312 Formosa Optical TechnologyLtd	13.7x	n/a	NT$3.8b
7514 HIMARAYALtd	8.2x	n/a	JP¥12.1b
NTH Naturhouse Health	5.9x	n/a	€107.9m

Forward PE

Price-To-Earnings vs Peers: NTH is good value based on its Price-To-Earnings Ratio (5.9x) compared to the peer average (29.1x).

Price to Earnings Ratio vs Industry

How does NTH's PE Ratio compare vs other companies in the European Specialty Retail Industry?

Price-To-Earnings vs Industry: NTH is good value based on its Price-To-Earnings Ratio (5.9x) compared to the European Specialty Retail industry average (11x)

Price to Earnings Ratio vs Fair Ratio

What is NTH's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NTH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	5.9x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate NTH's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of NTH when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NTH (€1.8) is trading below our estimate of fair value (€3.67)

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

Price to Earnings Growth Ratio

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

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Future Growth

How is Naturhouse Health forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

1/6

Future Growth Score 1/6

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

5.2%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if NTH's forecast earnings growth is above the savings rate (0.9%).

Earnings vs Market: Insufficient data to determine if NTH's earnings are forecast to grow faster than the Spanish market

High Growth Earnings: Insufficient data to determine if NTH's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: NTH's revenue (5.2% per year) is forecast to grow faster than the Spanish market (4.4% per year).

High Growth Revenue: NTH's revenue (5.2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if NTH's Return on Equity is forecast to be high in 3 years time

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Past Performance

How has Naturhouse Health performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

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

-15.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: NTH has a high level of non-cash earnings.

Growing Profit Margin: NTH's current net profit margins (31.7%) are higher than last year (17%).

Past Earnings Growth Analysis

Earnings Trend: NTH's earnings have declined by 15.2% per year over the past 5 years.

Accelerating Growth: NTH's earnings growth over the past year (94.5%) exceeds its 5-year average (-15.2% per year).

Earnings vs Industry: NTH earnings growth over the past year (94.5%) exceeded the Specialty Retail industry 45.9%.

Return on Equity

High ROE: NTH's Return on Equity (50.6%) is considered outstanding.

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Financial Health

How is Naturhouse Health's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

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

Financial Position Analysis

Short Term Liabilities: NTH's short term assets (€37.3M) exceed its short term liabilities (€8.1M).

Long Term Liabilities: NTH's short term assets (€37.3M) exceed its long term liabilities (€4.9M).

Debt to Equity History and Analysis

Debt Level: NTH has more cash than its total debt.

Reducing Debt: NTH's debt to equity ratio has increased from 11.9% to 12.1% over the past 5 years.

Debt Coverage: NTH's debt is well covered by operating cash flow (370.3%).

Interest Coverage: NTH earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

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Dividend

What is Naturhouse Health current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

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

11.11%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: NTH's dividend (11.11%) is higher than the bottom 25% of dividend payers in the Spanish market (2.02%).

High Dividend: NTH's dividend (11.11%) is in the top 25% of dividend payers in the Spanish market (5.85%)

Stability and Growth of Payments

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

Growing Dividend: NTH's dividend payments have increased, but the company has only paid a dividend for 7 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (66.6%), NTH's dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (74.4%), NTH's dividend payments are covered by cash flows.

Discover strong dividend paying companies

Management

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

7.7yrs

Average board tenure

CEO

Felix Revuelta Fernandez

no data

Tenure

€1,337,000

Compensation

Mr. Felix Revuelta Fernandez serves as President of Spanish Kiluva group, the holding company for Naturhouse. Mr. Revuelta Fernandez serves as Chairman and Chief Executive Officer at Kiluva, S.A. He serves...

CEO Compensation Analysis

Compensation vs Market: Insufficient data to establish whether Felix's total compensation is reasonable compared to companies of similar size in the Spanish market.

Compensation vs Earnings: Insufficient data to compare Felix's compensation with company performance.

Board Members

Experienced Board: NTH's board of directors are considered experienced (7.7 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	2022/06/29 00:00
End of Day Share Price	2022/06/29 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31