ICSE:MAREL

Stock Analysis Report

Executive Summary

Marel hf. develops, manufactures, sells, and distributes equipment, systems, and services for poultry, fish, and meat industries.

Snowflake

Fundamentals

Excellent balance sheet with proven track record.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0.5%

MAREL

3.6%

IS Machinery

-1.2%

IS Market


1 Year Return

42.9%

MAREL

-2.4%

IS Machinery

11.3%

IS Market


Shareholder returns

MARELIndustryMarket
7 Day0.5%3.6%-1.2%
30 Day-3.2%-3.4%-3.0%
90 Day-9.6%0.4%-9.4%
1 Year45.1%42.9%0.8%-2.4%14.2%11.3%
3 Year129.8%121.4%21.1%8.8%22.2%15.6%
5 Year454.4%426.9%58.1%33.9%106.2%80.3%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

20.37x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: MAREL (ISK548) is trading above our estimate of fair value (ISK468.02)

Significantly Undervalued: MAREL is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: MAREL is poor value based on its PE Ratio (20.4x) compared to the Machinery industry average (15.7x).

PE vs Market: MAREL is poor value based on its PE Ratio (20.4x) compared to the IS market (11.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: MAREL is poor value based on its PEG Ratio (2.3x)


Price to Book Ratio

PB vs Industry: MAREL is overvalued based on its PB Ratio (3.3x) compared to the XE Machinery industry average (1.5x).


Next Steps

Future Growth

How is Marel hf forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

8.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MAREL's forecast earnings growth (8.9% per year) is above the savings rate (2.7%).

Earnings vs Market: MAREL's earnings (8.9% per year) are forecast to grow faster than the IS market (8.6% per year).

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

Revenue vs Market: MAREL's revenue (6% per year) is forecast to grow faster than the IS market (4.3% per year).

High Growth Revenue: MAREL's revenue (6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Information is not available.


Next Steps

Past Performance

How has Marel hf performed over the past 5 years?

34.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: MAREL's earnings have grown significantly by 34% per year over the past 5 years.

Accelerating Growth: MAREL's earnings growth over the past year (14.4%) is below its 5-year average (34% per year).

Earnings vs Industry: MAREL earnings growth over the past year (14.4%) exceeded the Machinery industry 4.3%.


Return on Equity

High ROE: MAREL's Return on Equity (14.4%) is considered low.


Return on Assets

ROA vs Industry: MAREL has a higher Return on Assets than the Machinery industry average last year.


Return on Capital Employed

ROCE Improving: MAREL has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Marel hf's financial position?


Financial Position Analysis

Short Term Liabilities: MAREL's short term assets (€705.4M) exceeds its short term liabilities (€492.5M)

Long Term Liabilities: MAREL's short term assets (705.4M) exceeds its long term liabilities (440.9M)


Debt to Equity History and Analysis

Debt Level: MAREL's debt to equity ratio (40.3%) is considered high

Reducing Debt: MAREL's debt to equity ratio has reduced from 54.4% to 40.3% over the past 5 years.

Debt Coverage: MAREL's debt is well covered by operating cash flow (35.7%).

Interest Coverage: MAREL's interest payments on its debt are well covered by EBIT (20.4x coverage).


Balance Sheet

Information is not available.

Information is not available.


Next Steps

Dividend

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

1.41%

Current Dividend Yield


Dividend Yield vs Market

company1.4%marketbottom25%2.1%markettop25%3.4%industryaverage3.0%forecastin3Years1.4%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: MAREL's dividend (1.41%) isn’t notable compared to the bottom 25% of dividend payers in the IS market (2.07%).

High Dividend: MAREL's dividend (1.41%) is low compared to the top 25% of dividend payers in the IS market (3.37%).

Stable Dividend: MAREL is not paying a notable dividend for the IS market, therefore no need to check if payments are stable.

Growing Dividend: MAREL is not paying a notable dividend for the IS market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: MAREL is not paying a notable dividend for the IS market.


Future Payout to Shareholders

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


Next Steps

Management

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

5.4yrs

Average management tenure


CEO

Arni Thordarson (50yo)

5.9yrs

Tenure

€447,000

Compensation

Mr. Arni Oddur Thordarson has been the Chief Executive Officer of Marel hf since October 31, 2013. Mr. Thordarson is the Founder of LME eignarhaldsfélag ehf. He has over 15 years of extensive experience on ...


CEO Compensation Analysis

Information is not available.

Compensation vs Earnings: Arni's compensation has increased by more than 20% in the past year.


Management Age and Tenure

5.4yrs

Average Tenure

46.5yo

Average Age

Experienced Management: MAREL's management team is seasoned and experienced (5.4 years average tenure).


Board Age and Tenure

5.9yrs

Average Tenure

63yo

Average Age

Experienced Board: MAREL's board of directors are considered experienced (5.9 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

  • Linda Jonsdottir (41yo)

    Chief Financial Officer

    • Tenure: 5yrs
    • Compensation: €46.00k
  • Arni Thordarson (50yo)

    Chief Executive Officer

    • Tenure: 5.9yrs
    • Compensation: €447.00k
  • Einar Einarsson (51yo)

    Executive Vice President of Global Markets

    • Tenure: 1.3yrs
  • David Oddsson (44yo)

    Executive Vice President of Human Resources

    • Tenure: 6.8yrs
  • David Wilson (47yo)

    Managing Director (EVP) of Meat

    • Tenure: 8yrs
    • Compensation: €232.00k
  • Howard Sims

    Managing Director of the Grimsby Plant

    • Tenure: 0yrs
  • Rob Smith

    Head of Operations

    • Tenure: 0yrs
  • Sigurður Ólason (46yo)

    Managing Director of Fish and Executive Vice President of Fish

    • Tenure: 5.4yrs
    • Compensation: €127.00k
  • Audbjorg Olafsdottir

    Corporate Director of Investor Relations & Communications

    • Tenure: 5yrs
  • Arni Sigurdsson

    Executive Vice President of Strategy & Development

    • Tenure: 0yrs

Board Members

  • Helgi Magnusson (70yo)

    Director

    • Tenure: 14.8yrs
    • Compensation: €32.00k
  • Ann Savage (63yo)

    Director

    • Tenure: 6.6yrs
    • Compensation: €32.00k
  • Magnús Ólason

    Director of Marel UK

    • Tenure: 0yrs
  • Diego Lages

    Director of Marel Spain

    • Tenure: 0yrs
  • Thorkild Christensen

    Managing Director of Carnitech A/S and Director of Carnitech A/S

    • Tenure: 0yrs
    • Compensation: €201.00k
  • Ásthildur Otharsdóttir (51yo)

    Chairman of the Board

    • Tenure: 5.9yrs
    • Compensation: €97.00k
  • Margret Jonsdottir (65yo)

    Director

    • Tenure: 13.8yrs
    • Compensation: €32.00k
  • Arnar Másson (48yo)

    Vice Chairman

    • Tenure: 5.9yrs
    • Compensation: €65.00k
  • Astvaldur Johannesson

    Director

    • Tenure: 5.6yrs
    • Compensation: €27.00k
  • Olafur Gudmundsson

    Director

    • Tenure: 5.6yrs
    • Compensation: €27.00k

Company Information

Marel hf.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Marel hf.
  • Ticker: MAREL
  • Exchange: ICSE
  • Founded: 1977
  • Industry: Industrial Machinery
  • Sector: Capital Goods
  • Market Cap: ISK417.935b
  • Shares outstanding: 759.88m
  • Website: https://marel.com

Number of Employees


Location

  • Marel hf.
  • Austurhraun 9
  • Garðabær
  • 210
  • Iceland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MARELICSE (OMX Nordic Exchange Iceland)YesOrdinary SharesISISKNov 1995
0MDBLSE (London Stock Exchange)YesOrdinary SharesGBISKNov 1995
MARELENXTAM (Euronext Amsterdam)YesOrdinary SharesNLEURNov 1995
MARELABATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURNov 1995
MAREL NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNNov 1995

Biography

Marel hf. develops, manufactures, sells, and distributes equipment, systems, and services for poultry, fish, and meat industries. The company’s Poultry Processing segment offers integrated systems for proc ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/16 19:30
End of Day Share Price2019/10/15 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.