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Tikkurila Oyj

HLSE:TIK1V
Snowflake Description

Adequate balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TIK1V
HLSE
€646M
Market Cap
  1. Home
  2. FI
  3. Materials
Company description

Tikkurila Oyj, a paint company, produces and sells a range of decorative paints for surface protection and decoration to consumers and professionals in Sweden, Russia, Finland, Poland, the Baltic countries, and internationally. The last earnings update was 117 days ago. More info.


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TIK1V Share Price and Events
7 Day Returns
-1.6%
HLSE:TIK1V
-0.2%
Europe Chemicals
-0.3%
FI Market
1 Year Returns
-4.4%
HLSE:TIK1V
-8.9%
Europe Chemicals
-4%
FI Market
TIK1V Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tikkurila Oyj (TIK1V) -1.6% -2.4% -3.7% -4.4% -14.4% -27.6%
Europe Chemicals -0.2% -2.1% -5.8% -8.9% 15.1% 18.7%
FI Market -0.3% -0.3% -3.6% -4% 14.5% 24.8%
1 Year Return vs Industry and Market
  • TIK1V outperformed the Chemicals industry which returned -8.9% over the past year.
  • TIK1V matched the Finland Market (-4%) over the past year.
Price Volatility
TIK1V
Industry
5yr Volatility vs Market

TIK1V Value

 Is Tikkurila Oyj 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 Tikkurila Oyj 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 Tikkurila Oyj.

HLSE:TIK1V Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.1%
Perpetual Growth Rate 10-Year FI Government Bond Rate 0.5%

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 HLSE:TIK1V
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FI Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6.5%
Chemicals Unlevered Beta Simply Wall St/ S&P Global 0.89
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.888 (1 + (1- 20%) (18.74%))
1.014
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.01
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.54% + (1.014 * 6.51%)
7.14%

Discounted Cash Flow Calculation for HLSE:TIK1V using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Tikkurila Oyj 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.

HLSE:TIK1V DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 7.14%)
2020 42.27 Analyst x3 39.45
2021 39.23 Analyst x3 34.18
2022 42.00 Analyst x2 34.15
2023 43.80 Analyst x1 33.24
2024 44.41 Est @ 1.4% 31.45
2025 44.92 Est @ 1.14% 29.69
2026 45.35 Est @ 0.96% 27.98
2027 45.73 Est @ 0.83% 26.33
2028 46.07 Est @ 0.75% 24.76
2029 46.38 Est @ 0.68% 23.27
Present value of next 10 years cash flows €304.49
HLSE:TIK1V DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €46.38 × (1 + 0.54%) ÷ (7.14% – 0.54%)
€706.25
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €706.25 ÷ (1 + 7.14%)10
€354.26
HLSE:TIK1V Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €304.49 + €354.26
€658.75
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €658.75 / 44.11
€14.94
HLSE:TIK1V Discount to Share Price
Calculation Result
Value per share (EUR) From above. €14.94
Current discount Discount to share price of €14.64
= -1 x (€14.64 - €14.94) / €14.94
2%

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

Current Discount
Amount off the current price Tikkurila Oyj is available for.
Intrinsic value
2%
Share price is €14.64 vs Future cash flow value of €14.94
Current Discount Checks
For Tikkurila Oyj to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Tikkurila Oyj's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Tikkurila Oyj's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 Tikkurila Oyj's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tikkurila Oyj's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
HLSE:TIK1V PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.33
HLSE:TIK1V Share Price ** HLSE (2019-07-19) in EUR €14.64
Europe Chemicals Industry PE Ratio Median Figure of 90 Publicly-Listed Chemicals Companies 16.97x
Finland Market PE Ratio Median Figure of 108 Publicly-Listed Companies 20.07x

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

** Primary Listing of Tikkurila Oyj.

HLSE:TIK1V PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= HLSE:TIK1V Share Price ÷ EPS (both in EUR)

= 14.64 ÷ 0.33

44.28x

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

  • Tikkurila Oyj is overvalued based on earnings compared to the Europe Chemicals industry average.
  • Tikkurila Oyj is overvalued based on earnings compared to the Finland market.
Price based on expected Growth
Does Tikkurila Oyj's expected growth come at a high price?
Raw Data
HLSE:TIK1V PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 44.28x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
17.3%per year
Europe Chemicals Industry PEG Ratio Median Figure of 60 Publicly-Listed Chemicals Companies 1.77x
Finland Market PEG Ratio Median Figure of 93 Publicly-Listed Companies 1.77x

*Line of best fit is calculated by linear regression .

HLSE:TIK1V PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 44.28x ÷ 17.3%

2.56x

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

  • Tikkurila Oyj is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Tikkurila Oyj's assets?
Raw Data
HLSE:TIK1V PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €3.40
HLSE:TIK1V Share Price * HLSE (2019-07-19) in EUR €14.64
Europe Chemicals Industry PB Ratio Median Figure of 142 Publicly-Listed Chemicals Companies 1.73x
Finland Market PB Ratio Median Figure of 142 Publicly-Listed Companies 1.95x
HLSE:TIK1V PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= HLSE:TIK1V Share Price ÷ Book Value per Share (both in EUR)

= 14.64 ÷ 3.40

4.3x

* Primary Listing of Tikkurila Oyj.

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

  • Tikkurila Oyj is overvalued based on assets compared to the Europe Chemicals industry average.
X
Value checks
We assess Tikkurila Oyj'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. Tikkurila Oyj 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.

TIK1V Future Performance

 How is Tikkurila Oyj expected to perform in the next 1 to 3 years based on estimates from 4 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
17.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tikkurila Oyj expected to grow at an attractive rate?
  • Tikkurila Oyj's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Tikkurila Oyj's earnings growth is expected to exceed the Finland market average.
  • Tikkurila Oyj's revenue growth is positive but not above the Finland market average.
Annual Growth Rates Comparison
Raw Data
HLSE:TIK1V Future Growth Rates Data Sources
Data Point Source Value (per year)
HLSE:TIK1V Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 17.3%
HLSE:TIK1V Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 2%
Europe Chemicals Industry Earnings Growth Rate Market Cap Weighted Average 9%
Europe Chemicals Industry Revenue Growth Rate Market Cap Weighted Average 3.6%
Finland Market Earnings Growth Rate Market Cap Weighted Average 13.9%
Finland Market Revenue Growth Rate Market Cap Weighted Average 2%

*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
HLSE:TIK1V Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
HLSE:TIK1V Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 630 63 1
2022-12-31 605 63 42 3
2021-12-31 597 61 42 3
2020-12-31 584 61 39 3
2019-12-31 573 58 35 4
HLSE:TIK1V Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 562 48 15
2018-09-30 565 39 10
2018-06-30 567 31 6
2018-03-31 575 25 8
2017-12-31 583 18 11
2017-09-30 583 26 20
2017-06-30 583 34 29
2017-03-31 578 38 37
2016-12-31 573 43 44
2016-09-30 546 1 28
2016-06-30 582 15 39
2016-03-31 607 34 45

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Tikkurila Oyj's earnings are expected to grow by 17.3% yearly, however this is not considered high growth (20% yearly).
  • Tikkurila Oyj's revenue is expected to grow by 2% 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
HLSE:TIK1V Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Tikkurila Oyj Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

HLSE:TIK1V Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 0.96 0.98 0.94 2.00
2021-12-31 0.95 1.01 0.90 3.00
2020-12-31 0.89 0.91 0.86 3.00
2019-12-31 0.81 0.86 0.78 4.00
HLSE:TIK1V Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.33
2018-09-30 0.23
2018-06-30 0.13
2018-03-31 0.19
2017-12-31 0.24
2017-09-30 0.45
2017-06-30 0.65
2017-03-31 0.83
2016-12-31 1.01
2016-09-30 0.64
2016-06-30 0.89
2016-03-31 1.02

*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.
  • Tikkurila Oyj is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Tikkurila Oyj'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.
Tikkurila Oyj 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.

TIK1V Past Performance

  How has Tikkurila Oyj 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 Tikkurila Oyj'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.
  • Tikkurila Oyj's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Tikkurila Oyj's 1-year earnings growth exceeds its 5-year average (36.9% vs -28.4%)
  • Tikkurila Oyj's earnings growth has exceeded the Europe Chemicals industry average in the past year (36.9% vs 2.3%).
Earnings and Revenue History
Tikkurila Oyj'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 Tikkurila Oyj Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

HLSE:TIK1V Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 562.43 14.58 108.81
2018-09-30 564.70 10.22 114.99
2018-06-30 566.97 5.85 121.67
2018-03-31 575.17 8.25 121.67
2017-12-31 583.37 10.65 121.18
2017-09-30 583.35 19.66 119.30
2017-06-30 583.33 28.67 117.42
2017-03-31 578.13 36.57 117.42
2016-12-31 572.93 44.47 117.42
2016-09-30 545.75 28.28 176.47
2016-06-30 582.18 39.09 117.76
2016-03-31 606.78 45.14 117.76
2015-12-31 585.08 41.49 117.76
2015-09-30 586.03 44.17 118.38
2015-06-30 597.63 52.37 118.38
2015-03-31 611.03 54.27 118.38
2014-12-31 619.33 48.27 118.38
2014-09-30 630.66 51.66 121.22
2014-06-30 640.65 51.80 121.22
2014-03-31 656.04 50.77 121.22
2013-12-31 652.96 50.07 121.22
2013-09-30 657.78 50.38 124.77
2013-06-30 659.48 48.57 124.77
2013-03-31 660.25 47.72 124.77
2012-12-31 670.44 40.67 124.77
2012-09-30 668.08 40.16 128.66

*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.
  • Tikkurila Oyj has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Tikkurila Oyj used its assets less efficiently than the Europe Chemicals industry average last year based on Return on Assets.
  • Tikkurila Oyj's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Tikkurila Oyj'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.
Tikkurila Oyj has a total score of 2/6, 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.

TIK1V Health

 How is Tikkurila Oyj'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 Tikkurila Oyj's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tikkurila Oyj is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Tikkurila Oyj's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Tikkurila Oyj'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 covered by short term assets, assets are 1.8x 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 Tikkurila Oyj Company Filings, last reported 6 months ago.

HLSE:TIK1V Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 150.13 120.82 35.49
2018-09-30 150.13 120.82 35.49
2018-06-30 150.40 190.50 33.30
2018-03-31 179.52 107.05 16.96
2017-12-31 179.52 106.68 16.96
2017-09-30 179.52 106.68 16.96
2017-06-30 188.60 185.20 28.00
2017-03-31 208.59 77.20 18.53
2016-12-31 208.59 76.76 18.53
2016-09-30 208.59 76.76 18.53
2016-06-30 192.40 171.00 35.90
2016-03-31 194.97 62.99 16.79
2015-12-31 194.97 62.33 16.79
2015-09-30 208.30 99.20 52.40
2015-06-30 198.10 126.60 24.80
2015-03-31 174.60 76.20 18.90
2014-12-31 192.66 72.17 25.78
2014-09-30 217.64 92.90 46.82
2014-06-30 199.83 115.96 18.99
2014-03-31 175.74 78.86 25.04
2013-12-31 208.08 76.63 29.17
2013-09-30 214.25 87.92 27.84
2013-06-30 190.28 145.74 20.18
2013-03-31 206.65 106.53 12.50
2012-12-31 198.91 95.17 15.74
2012-09-30 211.53 106.28 17.21
  • Tikkurila Oyj's level of debt (80.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (37.5% vs 80.6% today).
  • Debt is well covered by operating cash flow (39.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 89.1x coverage).
X
Financial health checks
We assess Tikkurila Oyj'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. Tikkurila Oyj has a total score of 4/6, 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.

TIK1V Dividends

 What is Tikkurila Oyj'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
2.25%
Current annual income from Tikkurila Oyj dividends. Estimated to be 4.41% next year.
If you bought €2,000 of Tikkurila Oyj shares you are expected to receive €45 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?
  • Tikkurila Oyj's pays a higher dividend yield than the bottom 25% of dividend payers in Finland (2.25%).
  • Tikkurila Oyj's dividend is below the markets top 25% of dividend payers in Finland (5.21%).
Upcoming dividend payment

Purchase Tikkurila Oyj before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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
HLSE:TIK1V 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 4 Analyst Estimates (S&P Global) See Below
Europe Chemicals Industry Average Dividend Yield Market Cap Weighted Average of 76 Stocks 3.1%
Finland Market Average Dividend Yield Market Cap Weighted Average of 100 Stocks 4.4%
Finland Minimum Threshold Dividend Yield 10th Percentile 1.5%
Finland Bottom 25% Dividend Yield 25th Percentile 2.3%
Finland Top 25% Dividend Yield 75th Percentile 5.2%

Industry and Market average data is calculated daily.

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

HLSE:TIK1V Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 0.70 1.00
2021-12-31 0.75 3.00
2020-12-31 0.67 3.00
2019-12-31 0.54 4.00
HLSE:TIK1V Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-12 0.330 2.266
2018-02-13 0.800 5.635
2017-02-09 0.800 4.579
2016-02-09 0.800 4.715
2016-02-08 0.800 5.187
2015-03-03 0.800 4.802
2015-02-10 0.800 4.645
2014-02-10 0.800 4.603
2013-02-15 0.760 4.277
2012-08-02 0.730 5.000
2012-02-16 0.730 5.090
2011-02-11 0.700 4.737
2011-02-10 0.700 4.370

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

  • Tikkurila Oyj has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Tikkurila Oyj has only been paying a dividend for 8 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Tikkurila Oyj's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.3x coverage).
X
Income/ dividend checks
We assess Tikkurila Oyj's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - 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 Tikkurila Oyj afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tikkurila Oyj has a total score of 2/6, see the detailed checks below.


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

TIK1V Management

 What is the CEO of Tikkurila Oyj'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
Elisa Markula
COMPENSATION €557,540
AGE 53
TENURE AS CEO 1.3 years
CEO Bio

Ms. Elisa Markula has serves as President and Chief Executive Officer at Tikkurila Oyj since April 12, 2018. She serves as Senior Vice President and Managing Director of Coffee at Paulig Oy since 2010. Ms. Markula served as the Head of Coffee Division at Paulig Oy/ Managing Director at Oy Gustav Paulig Ab since 2009. Ms. Markula has been with Paulig Group Since 2009. She is also a member of the Paulig Group Management Team. She has versatile experience in consumer business and branded goods. Prior to Paulig, she has worked at Lego, Snellman, SCA and Fazer, among others. She served as Senior Vice President at Oy Suomen LEGO Ab from 2006 to 2009. She served as Sales Director at Oy Snellman Ab from 2003 to 2006. She served as Key Account Manager and Trade Marketing Manager at Oy SCA Hygiene Products Ab from 2000 to 2003. She served as Product Manager, Feminine Consumer Products at Oy SCA Hygiene Products Ab from 1998 to 2000 and served as its Brand Manager from 1998 to 1999. She served as Area Marketing Manager at Oy Fazer Chocolates Ab from 1993 to 1998. She has been President of European Coffee Federation since 2016. She has been a Director of Olvi Oyj since April 16, 2015. She serves as a Member of the Board at Mainostajien liitto since 2014. Ms. Markkula holds M Sc in Economics (International Marketing) from Turku School of Economics and Business Administration.

CEO Compensation
  • Insufficient data for Elisa to compare compensation growth.
  • Elisa's remuneration is about average for companies of similar size in Finland.
Management Team Tenure

Average tenure and age of the Tikkurila Oyj management team in years:

1.1
Average Tenure
45.5
Average Age
  • The average tenure for the Tikkurila Oyj management team is less than 2 years, this suggests a new team.
Management Team

Elisa Markula

TITLE
President & CEO
COMPENSATION
€558K
AGE
53
TENURE
1.3 yrs

Markus Melkko

TITLE
CFO, Controller & Member of Management Board
AGE
43
TENURE
0.3 yrs

Meri Vainikka

TITLE
Senior VP of Offering & Member of Management Board
AGE
48
TENURE
2.2 yrs

Melisa Bärholm

TITLE
Senior VP of Human Resources & Member of Management Board
AGE
52
TENURE
2.2 yrs

Fredrik Linde

TITLE
Senior VP of Operations & Member of Management Board
AGE
48
TENURE
1.1 yrs

Oskari Vidman

TITLE
Senior VP of Sales & Member of Management Board
AGE
43
TENURE
0.5 yrs

Tapio Pesola

TITLE
Director of IR & Communications
AGE
38
TENURE
0.2 yrs

Sanna Lehti

TITLE
General Counsel

Aleksander Truszczynski

TITLE
Head of Business Unit - Poland
TENURE
5.4 yrs

Anders Rotkirch

TITLE
Senior Vice President of Transformation & ICT
AGE
39
TENURE
0.5 yrs
Board of Directors Tenure

Average tenure and age of the Tikkurila Oyj board of directors in years:

4.8
Average Tenure
58
Average Age
  • The tenure for the Tikkurila Oyj board of directors is about average.
Board of Directors

Jari Paasikivi

TITLE
Chairman
AGE
65
TENURE
9.5 yrs

Petteri Walldén

TITLE
Vice Chairman of the Board
AGE
71
TENURE
9.5 yrs

Heikki Westerlund

TITLE
Independent Director
AGE
53
TENURE
1.3 yrs

Riitta Mynttinen

TITLE
Independent Director
AGE
59
TENURE
8.3 yrs

Catherine Sahlgren

TITLE
Independent Director
AGE
57
TENURE
1.3 yrs

Lars Lindfors

TITLE
Director
AGE
55
TENURE
0.3 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 (€) Value (€)
X
Management checks
We assess Tikkurila Oyj'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. Tikkurila Oyj 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.

TIK1V News

Simply Wall St News

Does Tikkurila Oyj's (HEL:TIK1V) Recent Track Record Look Strong?

Today I will examine Tikkurila Oyj's (HEL:TIK1V) latest earnings update (31 December 2018) and compare these figures against its performance over the past couple of years, in addition to how the rest of TIK1V's industry performed. … See our latest analysis for Tikkurila Oyj Did TIK1V beat its long-term earnings growth trend and its industry? … I recommend you continue to research Tikkurila Oyj to get a more holistic view of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for TIK1V’s future growth?

Simply Wall St -

Are Dividend Investors Making A Mistake With Tikkurila Oyj (HEL:TIK1V)?

Is Tikkurila Oyj (HEL:TIK1V) a good dividend stock? How would you know? Dividend paying companies with growing earnings can be highly rewarding in the long term. If you are hoping to live on your dividends, it's important to be more stringent with your investments than the average punter. Regular readers know we like to apply the same approach to each dividend stock, and we hope you'll find our analysis useful. With a 2.2% yield and a eight-year payment history, investors probably think Tikkurila Oyj looks like a reliable dividend stock. While the yield may not look too great, the relatively long payment history is interesting. Some simple analysis can offer a lot of insights when buying a company for its dividend, and we'll go through this below. Click the interactive chart for our full dividend analysis HLSE:TIK1V Historical Dividend Yield, June 17th 2019 Payout ratios Dividends are typically paid from company earnings. If a company pays more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. 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. Tikkurila Oyj paid out 100% of its profit as dividends, over the trailing twelve month period. Its payout ratio is quite high, and the dividend is not well covered by earnings. If earnings are growing or the company has a large cash balance, this might be sustainable - still, we think it is a concern. We also measure dividends paid against a company's levered free cash flow, to see if enough cash was generated to cover the dividend. With a cash payout ratio of 100%, Tikkurila Oyj's dividend payments are poorly covered by cash flow. Cash is slightly more important than profit from a dividend perspective, but given Tikkurila Oyj's payouts were not well covered by either earnings or cash flow, we would definitely be concerned about the sustainability of this dividend. Is Tikkurila Oyj's Balance Sheet Risky? As Tikkurila Oyj's dividend was not well covered by earnings, we need to check its balance sheet for signs of financial distress. 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. … It's good to see that Tikkurila Oyj has been paying a dividend for a number of years. … Given that earnings are not growing, the dividend does not look nearly so attractive.

Simply Wall St -

What Is Tikkurila Oyj's (HEL:TIK1V) Share Price Doing?

It’s trading around 4.8% below my intrinsic value, which means if you buy Tikkurila Oyj today, you’d be paying a fair price for it. … TIK1V’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value. … Will you have enough confidence to invest in the company should the price drop below its fair value?

Simply Wall St -

Should You Like Tikkurila Oyj’s (HEL:TIK1V) High Return On Capital Employed?

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Tikkurila Oyj: 0.14 = €31m ÷ (€400m - €169m) (Based on the trailing twelve months to December 2018.) So, Tikkurila Oyj has an ROCE of 14%. … Due to the way the ROCE equation works, having large bills due in the near term can make it look as though a company has less capital employed, and thus a higher ROCE than usual. … The Bottom Line On Tikkurila Oyj's ROCE Tikkurila Oyj's ROCE does look good, but the level of current liabilities also contribute to that.

Simply Wall St -

Could The Tikkurila Oyj (HEL:TIK1V) Ownership Structure Tell Us Something Useful?

Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … We also tend to see lower insider ownership in companies that were previously publicly owned. … Tikkurila Oyj is not a large company by global standards.

Simply Wall St -

Don't Sell Tikkurila Oyj (HEL:TIK1V) Before You Read This

We'll show how you can use Tikkurila Oyj's (HEL:TIK1V) P/E ratio to inform your assessment of the investment opportunity. … Looking at earnings over the last twelve months, Tikkurila Oyj has a P/E ratio of 45.18. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Is Tikkurila Oyj's (HEL:TIK1V) Balance Sheet Strong Enough To Weather A Storm?

However, an important fact which most ignore is: how financially healthy is the business? … Assessing first and foremost the financial health is. … We'll look at some basic checks that can form a snapshot the company’s financial strength.

Simply Wall St -

Did Tikkurila Oyj's (HEL:TIK1V) Recent Earnings Growth Beat The Trend?

When Tikkurila Oyj (HEL:TIK1V) released its most recent earnings update (31 December 2018), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … TIK1V's trailing twelve-month earnings (from 31 December 2018) of €15m has. … Furthermore, this one-year growth rate has exceeded its 5-year annual growth average of -28%, indicating the rate at which TIK1V is growing has accelerated

Simply Wall St -

Tikkurila Oyj's (HEL:TIK1V) Most Important Factor To Consider

I’ve analysed below, the health and outlook of Tikkurila Oyj’s cash flow, which will help you understand the stock from a cash standpoint. … Tikkurila Oyj generates cash through its day-to-day business, which needs to be reinvested into the company in order for it to continue operating. … The two ways to assess whether Tikkurila Oyj’s FCF is sufficient, is to compare the FCF yield to the market index yield, as well as determine whether the top-line operating cash flows will continue to grow

Simply Wall St -

How Does Tikkurila Oyj (HEL:TIK1V) Affect Your Portfolio Volatility?

Volatility is considered to be a measure of risk in modern finance theory. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

TIK1V Company Info

Description

Tikkurila Oyj, a paint company, produces and sells a range of decorative paints for surface protection and decoration to consumers and professionals in Sweden, Russia, Finland, Poland, the Baltic countries, and internationally. It provides interior paints, lacquers, and other products; and exterior products for wood, masonry, and metal surfaces, as well as offers services related to painting. The company produces paints and coatings for the metal and wood industries. It markets its products under the Tikkurila, Beckers, Alcro, Teks, Vivacolor, Jedynka, Finncolor, Polifarb Debica, and Pigrol brands. The company sells decorative paints primarily to home improvement stores, paint store chains, and independent paint retailers; and industrial coatings directly to customers or through the retailer network. The company was founded in 1862 and is headquartered in Vantaa, Finland.

Details
Name: Tikkurila Oyj
TIK1V
Exchange: HLSE
Founded: 1862
€645,708,780
44,105,791
Website: http://www.tikkurilagroup.com
Address: Tikkurila Oyj
Heidehofintie 2,
PO Box 53,
Vantaa,
Uusimaa, 01300,
Finland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
HLSE TIK1V Registered Shares OMX Nordic Exchange Helsinki FI EUR 26. Mar 2010
DB 7TO Registered Shares Deutsche Boerse AG DE EUR 26. Mar 2010
LSE 0MFI Registered Shares London Stock Exchange GB EUR 26. Mar 2010
BATS-CHIXE TIK1VH Registered Shares BATS 'Chi-X Europe' GB EUR 26. Mar 2010
Number of employees
Current staff
Staff numbers
2,717
Tikkurila Oyj employees.
Industry
Commodity Chemicals
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/21 23:06
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/06/05
Last earnings filing: 2019/03/26
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.