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FXPO

Ferrexpo LSE:FXPO Stock Report

Last Price

UK£1.19

Market Cap

UK£720.9m

7D

-11.9%

1Y

-63.7%

Updated

29 Sep, 2022

Data

Company Financials +
FXPO fundamental analysis
Snowflake Score
Valuation5/6
Future Growth2/6
Past Performance1/6
Financial Health6/6
Dividends5/6

FXPO Stock Overview

Ferrexpo plc, together with its subsidiaries, mines for, develops, processes, produces, markets, exports, and sells iron ore pellets to the metallurgical industry.

Ferrexpo Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Ferrexpo
Historical stock prices
Current Share PriceUK£1.19
52 Week HighUK£3.31
52 Week LowUK£1.06
Beta1.34
1 Month Change-20.75%
3 Month Change-9.73%
1 Year Change-63.69%
3 Year Change-23.53%
5 Year Change-60.28%
Change since IPO-21.06%

Recent News & Updates

Shareholder Returns

FXPOGB Metals and MiningGB Market
7D-11.9%-0.2%-3.5%
1Y-63.7%-6.8%-14.9%

Return vs Industry: FXPO underperformed the UK Metals and Mining industry which returned -6.8% over the past year.

Return vs Market: FXPO underperformed the UK Market which returned -14.9% over the past year.

Price Volatility

Is FXPO's price volatile compared to industry and market?
FXPO volatility
FXPO Average Weekly Movement10.4%
Metals and Mining Industry Average Movement7.9%
Market Average Movement5.3%
10% most volatile stocks in GB Market10.7%
10% least volatile stocks in GB Market2.7%

Stable Share Price: FXPO is more volatile than 75% of UK stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: FXPO's weekly volatility (10%) has been stable over the past year, but is still higher than 75% of UK stocks.

About the Company

FoundedEmployeesCEOWebsite
200510,000Jim Northhttps://www.ferrexpo.com

Ferrexpo plc, together with its subsidiaries, mines for, develops, processes, produces, markets, exports, and sells iron ore pellets to the metallurgical industry. It operates two mines and a processing plant near Kremenchug in Ukraine; a port in Odessa; a fleet of vessels operating on the Rhine and Danube waterways; and an ocean-going vessel, which provides top-off services. The company also offers finance, management, procurement, transportation, marketing, shipping, barging, and port services.

Ferrexpo Fundamentals Summary

How do Ferrexpo's earnings and revenue compare to its market cap?
FXPO fundamental statistics
Market CapUK£720.95m
Earnings (TTM)UK£264.55m
Revenue (TTM)UK£1.91b

2.6x

P/E Ratio

0.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FXPO income statement (TTM)
RevenueUS$2.10b
Cost of RevenueUS$812.00m
Gross ProfitUS$1.29b
Other ExpensesUS$997.81m
EarningsUS$291.64m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.50
Gross Margin61.36%
Net Profit Margin13.88%
Debt/Equity Ratio0%

How did FXPO perform over the long term?

See historical performance and comparison

Dividends

15.1%

Current Dividend Yield

40%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

FXPO 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/Revenue0.3x
Enterprise Value/EBITDA0.9x
PEG Ratio0.3x

Price to Earnings Ratio vs Peers

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

FXPO PE Ratio vs Peers
The above table shows the PE ratio for FXPO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average8.4x
HILS Hill & Smith Holdings
14.9x7.7%UK£731.7m
APF Anglo Pacific Group
3.5x-59.5%UK£399.6m
NLMK Novolipetsk Steel
0.8xn/aUS$4.1b
CGS Castings
14.6x12.7%UK£125.0m
FXPO Ferrexpo
2.7x9.2%UK£720.9m

Price-To-Earnings vs Peers: FXPO is good value based on its Price-To-Earnings Ratio (2.6x) compared to the peer average (8.4x).


Price to Earnings Ratio vs Industry

How does FXPO's PE Ratio compare vs other companies in the GB Metals and Mining Industry?

Price-To-Earnings vs Industry: FXPO is good value based on its Price-To-Earnings Ratio (2.6x) compared to the UK Metals and Mining industry average (4.8x)


Price to Earnings Ratio vs Fair Ratio

What is FXPO'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.

FXPO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio2.6x
Fair PE Ratio12.2x

Price-To-Earnings vs Fair Ratio: FXPO is good value based on its Price-To-Earnings Ratio (2.6x) compared to the estimated Fair Price-To-Earnings Ratio (12.2x).


Share Price vs Fair Value

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

Below Fair Value: FXPO (£1.19) is trading below our estimate of fair value (£6.19)

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


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

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

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


9.2%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FXPO's forecast earnings growth (9.2% per year) is above the savings rate (0.9%).

Earnings vs Market: FXPO's earnings (9.2% per year) are forecast to grow faster than the UK market (8.9% per year).

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

Revenue vs Market: FXPO's revenue (2.3% per year) is forecast to grow slower than the UK market (4.5% per year).

High Growth Revenue: FXPO's revenue (2.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FXPO's Return on Equity is forecast to be low in 3 years time (14%).


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Past Performance

How has Ferrexpo performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


18.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FXPO has a large one-off loss of $254.5M impacting its June 30 2022 financial results.

Growing Profit Margin: FXPO's current net profit margins (13.9%) are lower than last year (46%).


Past Earnings Growth Analysis

Earnings Trend: FXPO's earnings have grown by 18.4% per year over the past 5 years.

Accelerating Growth: FXPO's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: FXPO had negative earnings growth (-72.1%) over the past year, making it difficult to compare to the Metals and Mining industry average (-7.4%).


Return on Equity

High ROE: FXPO's Return on Equity (17.9%) is considered low.


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Financial Health

How is Ferrexpo's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: FXPO's short term assets ($734.4M) exceed its short term liabilities ($174.0M).

Long Term Liabilities: FXPO's short term assets ($734.4M) exceed its long term liabilities ($18.8M).


Debt to Equity History and Analysis

Debt Level: FXPO is debt free.

Reducing Debt: FXPO has no debt compared to 5 years ago when its debt to equity ratio was 105.8%.

Debt Coverage: FXPO has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: FXPO has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Ferrexpo current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


15.12%

Current Dividend Yield

Dividend Yield vs Market

Ferrexpo Dividend Yield vs Market
How does Ferrexpo dividend yield compare to the market?
SegmentDividend Yield
Company (Ferrexpo)15.1%
Market Bottom 25% (GB)2.1%
Market Top 25% (GB)6.1%
Industry Average (Metals and Mining)10.5%
Analyst forecast in 3 Years (Ferrexpo)17.8%

Notable Dividend: FXPO's dividend (15.12%) is higher than the bottom 25% of dividend payers in the UK market (2.12%).

High Dividend: FXPO's dividend (15.12%) is in the top 25% of dividend payers in the UK market (6.08%)


Stability and Growth of Payments

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

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


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (39.9%), FXPO's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (33.7%), FXPO's dividend payments are well covered by cash flows.


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Management

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

7.8yrs

Average management tenure


CEO

Jim North

2.17yrs

Tenure

US$2,473,464

Compensation

Mr. James North, also known as Jim, serves as Executive Director at Ferrexpo Plc since July 5, 2020. He serves as the Group Chief Operating Officer of Ferrexpo Plc since November 1, 2014 and serves as its...


CEO Compensation Analysis

Jim North's Compensation vs Ferrexpo Earnings
How has Jim North's remuneration changed compared to Ferrexpo's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

US$292m

Mar 31 2022n/an/a

US$581m

Dec 31 2021US$2mUS$959k

US$871m

Sep 30 2021n/an/a

US$959m

Jun 30 2021n/an/a

US$1b

Mar 31 2021n/an/a

US$841m

Dec 31 2020US$2mUS$567k

US$635m

Compensation vs Market: Jim's total compensation ($USD2.47M) is above average for companies of similar size in the UK market ($USD1.39M).

Compensation vs Earnings: Jim's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

Experienced Management: FXPO's management team is seasoned and experienced (7.8 years average tenure).


Board Members

Experienced Board: FXPO's board of directors are considered experienced (3.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: FXPO insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

LSE:FXPO Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
05 Jul 22BuyUK£14,587James NorthIndividual11,178UK£1.31
05 Jul 22BuyUK£3,828Greg NortjeIndividual2,933UK£1.31
28 Jun 22BuyUK£28,792James NorthIndividual20,007UK£1.44
28 Jun 22BuyUK£7,552Greg NortjeIndividual5,248UK£1.44
28 Jan 22BuyUK£10,809James NorthIndividual4,355UK£2.48
28 Jan 22BuyUK£3,040Greg NortjeIndividual1,225UK£2.48

Ownership Breakdown

What is the ownership structure of FXPO?
Owner TypeNumber of SharesOwnership Percentage
Public Companies00%
Private Companies338,5630.06%
State or Government1,944,9580.3%
Employee Share Scheme1,958,5270.3%
General Public17,481,7683.0%
Institutions268,861,22745.7%
Individual Insiders297,461,72950.6%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 85.57% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
50.35%
Kostyantin Zhevago
296,077,944$351.7m0%no data
6%
BlackRock, Inc.
35,301,072$41.9m90.63%no data
5.78%
Schroder Investment Management Limited
34,008,362$40.4m5.84%0.04%
2.89%
Acadian Asset Management LLC
16,984,376$20.2m4.41%0.09%
2.18%
The Vanguard Group, Inc.
12,818,524$15.2m-3.98%no data
1.81%
Grantham Mayo Van Otterloo & Co. LLC
10,658,228$12.7m-1.22%0.05%
1.53%
Dimensional Fund Advisors LP
9,025,995$10.7m-3.98%no data
1.48%
Norges Bank Investment Management
8,703,220$10.3m35.84%no data
1.42%
BNY Mellon Asset Management
8,378,719$10.0m3.22%no data
1.38%
HSBC Global Asset Management (UK) Limited
8,112,676$9.6m62.15%0.01%
1.25%
Vr Advisory Services Ltd.
7,357,842$8.7m0%3.71%
1.13%
BNP Paribas, Private & Investment Banking Investments
6,619,391$7.9m290.48%0.06%
1.08%
WisdomTree Asset Management, Inc.
6,329,257$7.5m2.11%0.07%
0.88%
LLB Asset Management AG
5,186,000$6.2m11.01%0.34%
0.85%
Legal & General Investment Management Limited
5,014,385$6.0m0.97%no data
0.82%
Mirae Asset Global Investments Co., Ltd
4,850,566$5.8m0%0.01%
0.74%
Quantex AG
4,365,272$5.2m0%0.71%
0.71%
SEI Investments Company
4,179,299$5.0m-2.06%0.01%
0.55%
UBS Asset Management
3,241,711$3.9m-3.8%no data
0.53%
Barclays Bank PLC, Securities Investments
3,091,223$3.7m93.75%0.01%
0.49%
azValor Asset Management SGIIC, S.A.U.
2,891,195$3.4m0%0.23%
0.49%
State Street Global Advisors, Inc.
2,890,647$3.4m36.51%no data
0.41%
AXA Investment Managers S.A.
2,409,353$2.9m0%0.01%
0.41%
LSV Asset Management
2,388,236$2.8m-3.61%0.01%
0.39%
M&G Investment Management Limited
2,295,617$2.7m-89.96%0.01%

Company Information

Ferrexpo plc's employee growth, exchange listings and data sources


Key Information

  • Name: Ferrexpo plc
  • Ticker: FXPO
  • Exchange: LSE
  • Founded: 2005
  • Industry: Steel
  • Sector: Materials
  • Implied Market Cap: UK£720.945m
  • Shares outstanding: 588.05m
  • Website: https://www.ferrexpo.com

Number of Employees


Location

  • Ferrexpo plc
  • Bahnhofstrasse 13
  • Baar
  • Zug
  • 6340
  • Switzerland


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FXPOLSE (London Stock Exchange)YesOrdinary SharesGBGBPJun 2007
FEXDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJun 2007
FEEX.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJun 2007
FXPOLBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBGBPJun 2007
FEEX.YOTCPK (Pink Sheets LLC)UNPSPON ADR EA REPR 4 ORD GBP0.00USUSDJun 2013

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/29 00:00
End of Day Share Price2022/09/29 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.