LSE:TIFS

Stock Analysis Report

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Executive Summary

TI Fluid Systems plc manufactures and supplies automotive fluid storage, carrying, distribution, and thermal management products to support various propulsion systems worldwide.


Snowflake Analysis

Proven track record and fair value.


Similar Companies

Share Price & News

How has TI Fluid Systems's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

-0.8%

TIFS

-0.6%

GB Auto Components

-1.5%

GB Market


1 Year Return

-4.2%

TIFS

-14.4%

GB Auto Components

-14.9%

GB Market

Return vs Industry: TIFS exceeded the UK Auto Components industry which returned -14.7% over the past year.

Return vs Market: TIFS exceeded the UK Market which returned -15.5% over the past year.


Shareholder returns

TIFSIndustryMarket
7 Day-0.8%-0.6%-1.5%
30 Day7.6%4.8%0.9%
90 Day4.6%9.0%7.5%
1 Year-2.5%-4.2%-13.4%-14.4%-10.9%-14.9%
3 Yearn/a97.2%95.6%-4.0%-15.8%
5 Yearn/a-34.0%-40.8%13.6%-11.8%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is TI Fluid Systems undervalued compared to its fair value and its price relative to the market?

7.51x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: TIFS (£1.83) is trading above our estimate of fair value (£1.46)

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


Price To Earnings Ratio

PE vs Industry: TIFS is good value based on its PE Ratio (7.5x) compared to the XE Auto Components industry average (10.2x).

PE vs Market: TIFS is good value based on its PE Ratio (7.5x) compared to the UK market (15.2x).


Price to Earnings Growth Ratio

PEG Ratio: TIFS's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: TIFS is good value based on its PB Ratio (0.9x) compared to the GB Auto Components industry average (3.3x).


Next Steps

Future Growth

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

-19.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TIFS's earnings are forecast to decline over the next 3 years (-19% per year).

Earnings vs Market: TIFS's earnings are forecast to decline over the next 3 years (-19% per year).

High Growth Earnings: TIFS's earnings are forecast to decline over the next 3 years.

Revenue vs Market: TIFS's revenue (1.2% per year) is forecast to grow slower than the UK market (3.3% per year).

High Growth Revenue: TIFS's revenue (1.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TIFS's Return on Equity is forecast to be low in 3 years time (10.9%).


Next Steps

Past Performance

How has TI Fluid Systems performed over the past 5 years?

38.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TIFS has high quality earnings.

Growing Profit Margin: TIFS's current net profit margins (4.2%) are higher than last year (4%).


Past Earnings Growth Analysis

Earnings Trend: TIFS's earnings have grown significantly by 38.7% per year over the past 5 years.

Accelerating Growth: TIFS's earnings growth over the past year (2.8%) is below its 5-year average (38.7% per year).

Earnings vs Industry: TIFS earnings growth over the past year (2.8%) exceeded the Auto Components industry -21.2%.


Return on Equity

High ROE: TIFS's Return on Equity (12.2%) is considered low.


Next Steps

Financial Health

How is TI Fluid Systems's financial position?


Financial Position Analysis

Short Term Liabilities: TIFS's short term assets (€1.4B) exceed its short term liabilities (€735.7M).

Long Term Liabilities: TIFS's short term assets (€1.4B) do not cover its long term liabilities (€1.6B).


Debt to Equity History and Analysis

Debt Level: TIFS's debt to equity ratio (96.9%) is considered high.

Reducing Debt: Insufficient data to determine if TIFS's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: TIFS's debt is well covered by operating cash flow (29%).

Interest Coverage: TIFS's interest payments on its debt are well covered by EBIT (4.1x coverage).


Balance Sheet


Next Steps

Dividend

What is TI Fluid Systems's current dividend yield, its reliability and sustainability?

3.83%

Forecast Dividend Yield


Dividend Yield vs Market

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

High Dividend: Unable to evaluate TIFS'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 TIFS's dividends per share have been stable in the past.

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


Current Payout to Shareholders

Dividend Coverage: TIFS is not paying a notable dividend for the UK market.


Future Payout to Shareholders

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


Next Steps

Management

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

6.3yrs

Average management tenure


CEO

Bill Kozyra (63yo)

12.08yrs

Tenure

€2,778,000

Compensation

Mr. William L. Kozyra, also known as Bill, has been the Chief Executive Officer and President at TI Fluid Systems Ltd since June 2008 and serves as its Executive Director. Mr. Kozyra has been the Chairman  ...


CEO Compensation Analysis

Compensation vs Market: Bill's total compensation ($USD3.14M) is above average for companies of similar size in the UK market ($USD1.73M).

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


Leadership Team

NamePositionTenureCompensationOwnership
William Kozyra
CEO, President & Executive Director12.08yrs€2.78mno data
Ronald Hundzinski
CFO & Executive Director0.50yrno datano data
Alastair Deane
Chief Technology Officerno datano datano data
David Royce
Investor Relations Directorno datano datano data
Matthew Paroly
Chief Legal Officer & Company Secretary6yrsno datano data
Domenico Milicia
Chief Human Resources & Communications Officerno datano datano data
Hans Dieltjens
Executive Vice President of Fuel Tank & Delivery Systems6.5yrsno data0.30% 2.9m
Stefan Rau
Executive Vice President of Fluid Carrying Systemsno datano datano data

6.3yrs

Average Tenure

58yo

Average Age

Experienced Management: TIFS's management team is seasoned and experienced (6.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
William Kozyra
CEO, President & Executive Director12.08yrs€2.78mno data
Ronald Hundzinski
CFO & Executive Director0.50yrno datano data
Manfred Heinrich Wennemer
Independent Non-Executive Chairman2.75yrs€351.00k0.036% 339.2k
Jeffrey Vanneste
Independent Non-Executive Director2.75yrs€110.00k0.011% 107.0k
John Smith
Independent Non-Executive Director2.75yrs€110.00k0.011% 107.0k
Elaine Sarsynski
Independent Non-Executive Director1.92yrs€110.00kno data
Susan Levine
Non-Executive Director0.58yrno datano data
Timothy Cobbold
Senior Independent Director0.67yr€21.00kno data
Stephen Thomas
Non-Executive Director5yrsno datano data
Andrea Dunstan
Independent Non-Executive Director1.33yrs€90.00kno data

2.3yrs

Average Tenure

61yo

Average Age

Experienced Board: TIFS's board of directors are not considered experienced ( 2.3 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

TI Fluid Systems plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: TI Fluid Systems plc
  • Ticker: TIFS
  • Exchange: LSE
  • Founded: 1922
  • Industry: Auto Parts and Equipment
  • Sector: Automobiles
  • Market Cap: UK£952.093m
  • Shares outstanding: 520.27m
  • Website: https://tifluidsystems.com

Number of Employees


Location

  • TI Fluid Systems plc
  • 4650 Kingsgate
  • Oxford Business Park South
  • Oxford
  • Oxfordshire
  • OX4 2SU
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TIFSLSE (London Stock Exchange)YesClass A Ordinary SharesGBGBPOct 2017
TIFSLBATS-CHIXE (BATS 'Chi-X Europe')YesClass A Ordinary SharesGBGBPOct 2017
TI1BST (Boerse-Stuttgart)YesClass A Ordinary SharesDEEUROct 2017

Biography

TI Fluid Systems plc manufactures and supplies automotive fluid storage, carrying, distribution, and thermal management products to support various propulsion systems worldwide. It operates through two segments, Fluid Carrying Systems (FCS) and Fuel Tank and Delivery Systems (FTDS). The FCS segment offers brake and fuel lines and bundles, such as double-wall and single-wall steel fluid carrying lines, and bundles for brake and fuel systems; multi-layer plastic lines for vapor, thermal management, and exhaust treatment; sensor-integrated connectors for installation and system assembly; and heated plastic lines for selective catalyst reduction urea fluids. This segment also provides thermal products, including thermal management technology for hybrid-electric vehicle battery packs; climate control tube and hose assemblies; coaxial or tube-in-tube assemblies; accumulators and receiver dryers; and heater and radiator hoses, as well as powertrain products comprising gasoline direct injection lines and rails, high-pressure diesel lines, and turbocharger cooling lines. The FTDS segment offers fuel tank products, such as plastic fuel tanks for gasoline, diesel, and flex fuel vehicles; partial zero emissions vehicle fuel tanks; pressurized fuel tank systems for hybrid vehicles; low emission vehicle fuel tanks; delivery and return components; and plastic fuel filler tubes. This segment also provides pump and module products, such as brushed and brushless pumps, modules, electronics controls, additive dosing systems, and sensors; and aftermarket products. The company serves automotive original equipment manufacturers. TI Fluid Systems plc was founded in 1922 and is headquartered in Oxford, the United Kingdom. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/13 20:54
End of Day Share Price2020/07/13 00:00
Earnings2019/12/31
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.