ENXTPA:NK

Stock Analysis Report

Executive Summary

Imerys S.A. provides mineral-based specialties various industries worldwide.

Snowflake

Fundamentals

Established dividend payer and slightly overvalued.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0.8%

NK

1.4%

FR Basic Materials

-0.4%

FR Market


1 Year Return

-35.5%

NK

13.0%

FR Basic Materials

9.5%

FR Market

Return vs Industry: NK underperformed the French Basic Materials industry which returned 13% over the past year.

Return vs Market: NK underperformed the French Market which returned 9.5% over the past year.


Shareholder returns

NKIndustryMarket
7 Day0.8%1.4%-0.4%
30 Day-7.6%-1.6%-0.6%
90 Day-16.9%0.04%0.04%
1 Year-32.0%-35.5%16.5%13.0%13.3%9.5%
3 Year-40.9%-46.8%2.0%-6.3%42.5%28.7%
5 Year-24.5%-35.6%28.7%12.3%71.0%45.0%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

31.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: NK (€35.8) is trading below our estimate of fair value (€51.86)

Significantly Undervalued: NK is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: NK is unprofitable, so we can't compare its PE Ratio to the Basic Materials industry average.

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


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: NK is good value based on its PB Ratio (0.9x) compared to the XE Basic Materials industry average (1x).


Next Steps

Future Growth

How is Imerys forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

37.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NK is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: NK is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: NK is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: NK's revenue (1.5% per year) is forecast to grow slower than the French market (4.5% per year).

High Growth Revenue: NK's revenue (1.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: NK's Return on Equity is forecast to be low in 3 years time (10.7%).


Next Steps

Past Performance

How has Imerys performed over the past 5 years?

-28.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: NK is unprofitable, and losses have increased over the past 5 years at a rate of -28.1% per year.

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

Earnings vs Industry: NK is unprofitable, making it difficult to compare its past year earnings growth to the Basic Materials industry (15.1%).


Return on Equity

High ROE: NK has a negative Return on Equity (-9.56%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: NK is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: NK is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Imerys's financial position?


Financial Position Analysis

Short Term Liabilities: NK's short term assets (€2.5B) exceeds its short term liabilities (€1.4B)

Long Term Liabilities: NK's short term assets (2.5B) do not cover its long term liabilities (3.0B)


Debt to Equity History and Analysis

Debt Level: NK's debt to equity ratio (68.4%) is considered high

Reducing Debt: NK's debt to equity ratio has increased from 54.2% to 68.4% over the past 5 years.

Debt Coverage: NK's debt is well covered by operating cash flow (21.9%).

Interest Coverage: NK is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet

Inventory Level: NK has a high level of physical assets or inventory.

Debt Coverage by Assets: NK's debt is covered by short term assets (assets are 1.157470x debt).


Next Steps

Dividend

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

6.01%

Current Dividend Yield


Dividend Yield vs Market

company6.0%marketbottom25%1.6%markettop25%4.7%industryaverage3.1%forecastin3Years6.4%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: NK's dividend (6.01%) is higher than the bottom 25% of dividend payers in the French market (1.56%).

High Dividend: NK's dividend (6.01%) is in the top 25% of dividend payers in the French market (4.72%)

Stable Dividend: NK's dividends per share have been stable in the past 10 years.

Growing Dividend: NK's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: NK is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: NK's dividends in 3 years are forecast to be covered by earnings (52.2% payout ratio).


Next Steps

Management

What is the CEO of Imerys's salary, the management and board of directors tenure and is there insider trading?

2.1yrs

Average management tenure


CEO

Conrad Keijzer (51yo)

1.4yrs

Tenure

€3,238,839

Compensation

Mr. Conrad Keijzer serves as CEO & Director of IMERYS since May 04, 2018. He was Deputy Chief Executive Officer at IMERYS from March 8, 2018 until May 04, 2018. Mr. Keijzer served as a Member of the Manage ...


CEO Compensation Analysis

Compensation vs. Market: Conrad has recently become CEO, making it difficult to compare their total compensation against companies of similar size in the French market.

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


Management Age and Tenure

2.1yrs

Average Tenure

53.5yo

Average Age

Experienced Management: NK's management team is considered experienced (2.1 years average tenure).


Board Age and Tenure

5.0yrs

Average Tenure

62.5yo

Average Age

Experienced Board: NK's board of directors are considered experienced (5 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Olivier Pirotte (53yo)

    Chief Financial Officer

    • Tenure: 4.3yrs
  • Thierry Materne

    Global Chief Innovation Officer

    • Tenure: 3.3yrs
  • Vincent Lecerf (55yo)

    Chief Human Resources Officer

    • Tenure: 2.8yrs
  • Olivier Hautin (54yo)

    Chief Strategy Officer

    • Tenure: 0.9yrs
  • Vincent Gouley

    Head of Financial Communication

    • Tenure: 5yrs
  • Conrad Keijzer (51yo)

    CEO & Director

    • Tenure: 1.4yrs
    • Compensation: €3.24m
  • Jean-François Claver

    Chief Industrial Officer

    • Tenure: 3yrs
  • Philippe Bourg

    Senior Vice President of Refractory Abrasives & Construction

    • Tenure: 0.9yrs
  • Michel Cornelissen

    Senior Vice President of High Temperature Solutions

    • Tenure: 0.9yrs
  • Frédérique Berthier-Raymond

    Group General Counsel

    • Tenure: 0.9yrs

Board Members

  • Aldo Cardoso (63yo)

    Independent Director

    • Tenure: 14.4yrs
    • Compensation: €112.83k
  • Patrick Kron (66yo)

    Chairman of the Board

    • Tenure: 0.3yrs
    • Compensation: €10.50k
  • Ian Gallienne (48yo)

    Director

    • Tenure: 9.5yrs
    • Compensation: €102.28k
  • Ulysses Paris Kyriacopoulos (67yo)

    Director

    • Tenure: 4.5yrs
    • Compensation: €53.50k
  • Marie-Françoise Walbaum (69yo)

    Independent Director

    • Tenure: 6.5yrs
    • Compensation: €91.50k
  • Paul Desmarais (37yo)

    Vice Chairman

    • Tenure: 3.4yrs
    • Compensation: €122.19k
  • Conrad Keijzer (51yo)

    CEO & Director

    • Tenure: 1.4yrs
    • Compensation: €3.24m
  • Marion Guillou (65yo)

    Independent Director

    • Tenure: 7.1yrs
    • Compensation: €53.50k
  • Éliane Augelet-Petit (62yo)

    Employee Representative Director

    • Tenure: 5yrs
    • Compensation: €53.00k
  • Eric d'Ortona (56yo)

    Employee Representative Director

    • Tenure: 5yrs
    • Compensation: €36.00k

Company Information

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


Key Information

  • Name: Imerys S.A.
  • Ticker: NK
  • Exchange: ENXTPA
  • Founded: 1880
  • Industry: Construction Materials
  • Sector: Materials
  • Market Cap: €2.837b
  • Shares outstanding: 79.25m
  • Website: https://www.imerys.com

Number of Employees


Location

  • Imerys S.A.
  • 43 Quai de Grenelle
  • Paris
  • Ile-de-France
  • 75015
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IMYS.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1980
NKENXTPA (Euronext Paris)YesOrdinary SharesFREURJan 1980
IY4DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1980
0NPXLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1980
NKPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1980

Biography

Imerys S.A. provides mineral-based specialties various industries worldwide. The company operates through Energy Solutions & Specialties, Filtration & Performance Additives, Ceramic Materials, and High Res ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 20:31
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.