ENXTPA:PSB

Stock Analysis Report

Executive Summary

PSB Industries manufactures and sells packaging and specialty chemical products in France and internationally.

Rewards

PE ratio (9.6x) is below the French market (13.2x)

Earnings are forecast to grow 15.99% per year

Earnings grew by 1412.3% over the past year

Risk Analysis

Dividend of 31.25% is not well covered by earnings

Highly volatile share price over past 3 months

Latest financial reports are more than 6 months old

Does not have a meaningful market cap (€58M)



Snowflake Analysis

Flawless balance sheet, good value and pays a dividend.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: PSB's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-6.1%

PSB

0.2%

FR Packaging

10.6%

FR Market


1 Year Return

-52.0%

PSB

-25.3%

FR Packaging

-18.9%

FR Market

Return vs Industry: PSB underperformed the French Packaging industry which returned -22.9% over the past year.

Return vs Market: PSB underperformed the French Market which returned -17.6% over the past year.


Shareholder returns

PSBIndustryMarket
7 Day-6.1%0.2%10.6%
30 Day-9.4%-23.1%-17.6%
90 Day-25.2%-25.1%-25.6%
1 Year-43.8%-52.0%-23.7%-25.3%-16.1%-18.9%
3 Year-42.0%-70.7%-19.4%-26.2%0.2%-9.2%
5 Year-30.6%-67.2%25.4%9.6%11.2%-6.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

9.2x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PSB (€16) is trading above our estimate of fair value (€13.89)

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


Price To Earnings Ratio

PE vs Industry: PSB is good value based on its PE Ratio (9.6x) compared to the Packaging industry average (9.6x).

PE vs Market: PSB is good value based on its PE Ratio (9.6x) compared to the French market (13.2x).


Price to Earnings Growth Ratio

PEG Ratio: PSB is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: PSB is good value based on its PB Ratio (0.4x) compared to the FR Packaging industry average (0.6x).


Next Steps

Future Growth

How is PSB Industries forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

16.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PSB's forecast earnings growth (16% per year) is above the savings rate (-0.1%).

Earnings vs Market: PSB's earnings (16% per year) are forecast to grow faster than the French market (12.6% per year).

High Growth Earnings: PSB's earnings are forecast to grow, but not significantly.

Revenue vs Market: PSB's revenue (28.8% per year) is forecast to grow faster than the French market (3.7% per year).

High Growth Revenue: PSB's revenue (28.8% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PSB's Return on Equity is forecast to be low in 3 years time (4.2%).


Next Steps

Past Performance

How has PSB Industries performed over the past 5 years?

-26.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PSB has high quality earnings.

Growing Profit Margin: PSB's current net profit margins (2.3%) are higher than last year (0.2%).


Past Earnings Growth Analysis

Earnings Trend: PSB's earnings have declined by -26.6% per year over the past 5 years.

Accelerating Growth: PSB's earnings growth over the past year (1412.3%) exceeds its 5-year average (-26.6% per year).

Earnings vs Industry: PSB earnings growth over the past year (1412.3%) exceeded the Packaging industry 15%.


Return on Equity

High ROE: PSB's Return on Equity (4.3%) is considered low.


Next Steps

Financial Health

How is PSB Industries's financial position?


Financial Position Analysis

Short Term Liabilities: PSB's short term assets (€142.7M) exceed its short term liabilities (€74.1M).

Long Term Liabilities: PSB's short term assets (€142.7M) exceed its long term liabilities (€44.3M).


Debt to Equity History and Analysis

Debt Level: PSB's debt to equity ratio (27.8%) is considered satisfactory.

Reducing Debt: PSB's debt to equity ratio has reduced from 69.1% to 27.8% over the past 5 years.

Debt Coverage: PSB's debt is well covered by operating cash flow (48.3%).

Interest Coverage: PSB's interest payments on its debt are well covered by EBIT (7.8x coverage).


Balance Sheet

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

Debt Coverage by Assets: PSB's debt is covered by short term assets (assets are 3.5x debt).


Next Steps

Dividend

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

32.47%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PSB's dividend (31.25%) is higher than the bottom 25% of dividend payers in the French market (2.03%).

High Dividend: PSB's dividend (31.25%) is in the top 25% of dividend payers in the French market (6.33%)


Stability and Growth of Payments

Stable Dividend: PSB's dividend payments have been volatile in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (298.8%), PSB's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PSB's dividends in 3 years are forecast to be covered by earnings (52.3% payout ratio).


Next Steps

Management

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

2.2yrs

Average management tenure


CEO

François-Xavier Entremont (47yo)

no data

Tenure

€239,561

Compensation

Mr. François-Xavier Entremont serves as Chairman of the Board at Baikowski SAS. He serves as the Chief Executive Officer and Chairman of SAGIR. Mr. Entremont is a Joint Managing Partner of MB Investissemen ...


CEO Compensation Analysis

Compensation vs Market: François-Xavier's total compensation ($USD264.30K) is about average for companies of similar size in the French market ($USD320.80K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Olivier Salaun
Chairman and Interim President of Luxury & Beauty Business Unit - Texenno data€15.25kno data
François-Xavier Entremont
Presidentno data€239.56k0.53% 298.8k
Edouard Ravinet
Financial Director1.25yrsno datano data
Fabien Blanchet
Group HR Director2.17yrsno datano data
Rémi Weidenmann
Executive Director2.17yrsno datano data
Thierry Twembeke
Managing Director of the Healthcare & Industry Business Unit - PLASTIBELL2.17yrsno datano data
Ludovic Anceau
Managing Director of the Luxury & Beauty Business Unit (TEXEN)no datano datano data

2.2yrs

Average Tenure

47yo

Average Age

Experienced Management: PSB's management team is considered experienced (2.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Olivier Salaun
Chairman and Interim President of Luxury & Beauty Business Unit - Texenno data€15.25kno data
François-Xavier Entremont
Presidentno data€239.56k0.53% 298.8k
Rémi Weidenmann
Executive Director2.17yrsno datano data
Jacques Entremont
Non-Voting Director5.17yrsno data1.22% 684.7k
Roger Rosnoblet
Non-Voting Director5.17yrs€5.00kno data
Cyril de Mont-Marin
Directorno data€14.00kno data
Stéphane Rosnoblet
Director10.17yrs€17.00kno data
Jean Guittard
Director3yrs€22.75kno data
Gérard Séguret
Directorno data€26.50kno data
Claire Fosse
Directorno data€20.50kno data

5.2yrs

Average Tenure

52.5yo

Average Age

Experienced Board: PSB's board of directors are considered experienced (5.2 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.


Top Shareholders

Company Information

PSB Industries's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: PSB Industries
  • Ticker: PSB
  • Exchange: ENXTPA
  • Founded: 1904
  • Industry: Metal and Glass Containers
  • Sector: Materials
  • Market Cap: €56.233m
  • Shares outstanding: 3.65m
  • Website: https://www.psbindus.com

Number of Employees


Location

  • PSB Industries
  • Route de la bouvarde
  • Park Nord Immeuble Les Pléiades n°21
  • Metz-Tessy
  • Rhône-Alpes
  • 74370
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PSBENXTPA (Euronext Paris)YesOrdinary SharesFREURJan 1992
PSBPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992
0IIALSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992

Biography

PSB Industries manufactures and sells packaging and specialty chemical products in France and internationally. The company develops, industrializes, and produces plastic packaging products, including caps and closures, mascaras, lip glosses, jars, compacts, high-end surface treatments, etc. for the beauty and spirit markets; and provides plastic packaging solutions to the food and retail markets, such as food trays, blister packs, thermoformed packaging, and clamshells. It also offers plastic packages as primary and secondary parts comprising technical parts, bioabsorbable screws, catheters, orthopedic joints, closures, blister packs, trays, wedging materials, etc. for the healthcare and hygiene markets; and produces ultra-pure alumina powders and formulations, as well as other fine oxides and composites, such as spinel, ZTA, YAG, and ceria for technical ceramics, precision polishing, crystals, and additives/coatings applications. PSB Industries was founded in 1904 and is headquartered in Metz-Tessy, France. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/31 23:05
End of Day Share Price2020/03/31 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.