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KEND

Kendrion ENXTAM:KENDR Stock Report

Last Price

€15.32

Market Cap

€230.1m

7D

1.5%

1Y

-30.7%

Updated

13 Aug, 2022

Data

Company Financials +
KENDR fundamental analysis
Snowflake Score
Valuation3/6
Future Growth3/6
Past Performance3/6
Financial Health3/6
Dividends3/6

KENDR Stock Overview

Kendrion N.V. develops, manufactures, and markets electromagnetic systems and components for industrial and automotive applications in Germany, rest of Europe, the Americas, Asia, and internationally.

Kendrion Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Kendrion
Historical stock prices
Current Share Price€15.32
52 Week High€25.45
52 Week Low€14.28
Beta1.33
1 Month Change3.51%
3 Month Change-9.67%
1 Year Change-30.68%
3 Year Change-5.55%
5 Year Change-59.01%
Change since IPO-99.88%

Recent News & Updates

Shareholder Returns

KENDRNL Auto ComponentsNL Market
7D1.5%1.5%0.8%
1Y-30.7%-30.2%-14.8%

Return vs Industry: KENDR matched the Dutch Auto Components industry which returned -30.2% over the past year.

Return vs Market: KENDR underperformed the Dutch Market which returned -14.8% over the past year.

Price Volatility

Is KENDR's price volatile compared to industry and market?
KENDR volatility
KENDR Average Weekly Movement5.9%
Auto Components Industry Average Movement5.8%
Market Average Movement5.0%
10% most volatile stocks in NL Market8.1%
10% least volatile stocks in NL Market3.0%

Stable Share Price: KENDR is not significantly more volatile than the rest of Dutch stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: KENDR's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
18592,543Joep van Beurdenhttps://www.kendrion.com

Kendrion N.V. develops, manufactures, and markets electromagnetic systems and components for industrial and automotive applications in Germany, rest of Europe, the Americas, Asia, and internationally. The company operates in two segments, Industrial and Automotive. It offers switching, linear, locking, holding, door, oscillating, elevator brake, rotary, and custom solenoids; and industrial control systems to optimize automatic processes.

Kendrion Fundamentals Summary

How do Kendrion's earnings and revenue compare to its market cap?
KENDR fundamental statistics
Market Cap€230.12m
Earnings (TTM)€13.60m
Revenue (TTM)€479.30m

16.9x

P/E Ratio

0.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
KENDR income statement (TTM)
Revenue€479.30m
Cost of Revenue€256.10m
Gross Profit€223.20m
Other Expenses€209.60m
Earnings€13.60m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 24, 2022

Earnings per share (EPS)0.91
Gross Margin46.57%
Net Profit Margin2.84%
Debt/Equity Ratio65.5%

How did KENDR perform over the long term?

See historical performance and comparison

Dividends

4.5%

Current Dividend Yield

75%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • 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 KENDR?

Other financial metrics that can be useful for relative valuation.

KENDR 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/Revenue0.8x
Enterprise Value/EBITDA7.4x
PEG Ratio0.6x

Price to Earnings Ratio vs Peers

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

KENDR PE Ratio vs Peers
The above table shows the PE ratio for KENDR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average19.9x
532768 Fiem Industries
17.4xn/a₹19.6b
A010690 HWASHINLtd
7.8xn/a₩335.8b
SHRIPISTON Shriram Pistons & Rings
10xn/a₹19.0b
540293 Pricol
27xn/a₹18.8b
KENDR Kendrion
16.9x27.9%€230.1m

Price-To-Earnings vs Peers: KENDR is good value based on its Price-To-Earnings Ratio (16.9x) compared to the peer average (19.9x).


Price to Earnings Ratio vs Industry

How does KENDR's PE Ratio compare vs other companies in the European Auto Components Industry?

Price-To-Earnings vs Industry: KENDR is expensive based on its Price-To-Earnings Ratio (16.9x) compared to the European Auto Components industry average (13.3x)


Price to Earnings Ratio vs Fair Ratio

What is KENDR'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.

KENDR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.9x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate KENDR's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

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

Below Fair Value: KENDR (€15.32) is trading below our estimate of fair value (€28.18)

Significantly Below Fair Value: KENDR 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 there are not enough analysts covering the stock to determine statistical confidence in agreement.


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Future Growth

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

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


27.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KENDR's forecast earnings growth (27.9% per year) is above the savings rate (0.1%).

Earnings vs Market: KENDR's earnings (27.9% per year) are forecast to grow faster than the Dutch market (4.5% per year).

High Growth Earnings: KENDR's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: KENDR's revenue (5.7% per year) is forecast to grow slower than the Dutch market (7% per year).

High Growth Revenue: KENDR's revenue (5.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: KENDR's Return on Equity is forecast to be low in 3 years time (9.7%).


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Past Performance

How has Kendrion performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-18.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: KENDR has a large one-off loss of €5.2M impacting its March 31 2022 financial results.

Growing Profit Margin: KENDR's current net profit margins (2.8%) are higher than last year (1.8%).


Past Earnings Growth Analysis

Earnings Trend: KENDR's earnings have declined by 18.8% per year over the past 5 years.

Accelerating Growth: KENDR's earnings growth over the past year (88.9%) exceeds its 5-year average (-18.8% per year).

Earnings vs Industry: KENDR earnings growth over the past year (88.9%) exceeded the Auto Components industry -2.6%.


Return on Equity

High ROE: KENDR's Return on Equity (5.9%) is considered low.


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Financial Health

How is Kendrion's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: KENDR's short term assets (€181.7M) exceed its short term liabilities (€105.3M).

Long Term Liabilities: KENDR's short term assets (€181.7M) exceed its long term liabilities (€172.7M).


Debt to Equity History and Analysis

Debt Level: KENDR's net debt to equity ratio (59.5%) is considered high.

Reducing Debt: KENDR's debt to equity ratio has increased from 39.2% to 65.5% over the past 5 years.

Debt Coverage: KENDR's debt is not well covered by operating cash flow (18.4%).

Interest Coverage: KENDR's interest payments on its debt are well covered by EBIT (7.2x coverage).


Balance Sheet


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Dividend

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

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


4.50%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: KENDR's dividend (4.5%) is higher than the bottom 25% of dividend payers in the Dutch market (2.17%).

High Dividend: KENDR's dividend (4.5%) is low compared to the top 25% of dividend payers in the Dutch market (5.93%).


Stability and Growth of Payments

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

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


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (74.9%), KENDR's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: KENDR is paying a dividend but the company has no free cash flows.


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Management

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

4.0yrs

Average board tenure


CEO

Joep van Beurden (62 yo)

6.67yrs

Tenure

€1,260,300

Compensation

Mr. Jozef Aloysius Johannes van Beurden, also known as Joep, has been Chief Executive Officer and Member of Executive Board at Kendrion NV since December 1, 2015. Mr. van Beurden served as the Chief Execut...


CEO Compensation Analysis

Compensation vs Market: Joep's total compensation ($USD1.29M) is above average for companies of similar size in the Dutch market ($USD828.46K).

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


Board Members

Experienced Board: KENDR's board of directors are considered experienced (4 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

Kendrion N.V.'s employee growth, exchange listings and data sources


Key Information

  • Name: Kendrion N.V.
  • Ticker: KENDR
  • Exchange: ENXTAM
  • Founded: 1859
  • Industry: Auto Parts and Equipment
  • Sector: Automobiles
  • Implied Market Cap: €230.121m
  • Shares outstanding: 15.02m
  • Website: https://www.kendrion.com

Number of Employees


Location

  • Kendrion N.V.
  • Vesta Building
  • 5th floor
  • Amsterdam
  • Noord-Holland
  • 1101 CN
  • Netherlands

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/13 00:00
End of Day Share Price2022/08/12 00:00
Earnings2022/03/31
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.