Brunel International (ENXTAM:BRNL) - Share price, News & Analysis

BRNL fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	3/6
Past Performance	4/6
Financial Health	6/6
Dividends	2/6

BRNL Stock Overview

Brunel International N.V. provides secondment, project management, recruitment, and consultancy services worldwide.

Rewards

Trading at 74.7% below our estimate of its fair value

Earnings are forecast to grow 18.39% per year

Earnings have grown 23.5% per year over the past 5 years

Risk Analysis

Dividend of 4.29% is not well covered by earnings

Brunel International Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Brunel International
Historical stock prices
Current Share Price	€10.50
52 Week High	€12.82
52 Week Low	€9.07
Beta	1.38
1 Month Change	1.16%
3 Month Change	-4.20%
1 Year Change	-5.41%
3 Year Change	-18.48%
5 Year Change	-14.29%
Change since IPO	4.38%

Recent News & Updates

Jun 17

What Is Brunel International N.V.'s (AMS:BRNL) Share Price Doing?

Brunel International N.V. ( AMS:BRNL ), is not the largest company out there, but it received a lot of attention from a...

Apr 28

Brunel International (AMS:BRNL) Has Announced That It Will Be Increasing Its Dividend To €0.45

Brunel International N.V. ( AMS:BRNL ) has announced that it will be increasing its dividend on the 15th of June to...

Apr 09

Brunel International (AMS:BRNL) Is Increasing Its Dividend To €0.45

The board of Brunel International N.V. ( AMS:BRNL ) has announced that it will be increasing its dividend on the 15th...

Shareholder Returns

	BRNL	NL Professional Services	NL Market
7D	4.2%	3.5%	4.3%
1Y	-5.4%	-4.1%	-21.3%

Return vs Industry: BRNL underperformed the Dutch Professional Services industry which returned -4.1% over the past year.

Return vs Market: BRNL exceeded the Dutch Market which returned -21.3% over the past year.

Price Volatility

Is BRNL's price volatile compared to industry and market?
BRNL volatility
BRNL Average Weekly Movement	4.0%
Professional Services Industry Average Movement	3.9%
Market Average Movement	5.1%
10% most volatile stocks in NL Market	7.9%
10% least volatile stocks in NL Market	3.0%

Stable Share Price: BRNL is less volatile than 75% of Dutch stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: BRNL's weekly volatility (4%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1975	10,836	Jilko Andringa	https://www.brunelinternational.net

Brunel International N.V. provides secondment, project management, recruitment, and consultancy services worldwide. It offers logistics services, such as food, accommodation, and transport; global mobility; and new location startup; and recruitment services, including career industry training, contracting and secondment; maintenance training; offshore and permanent recruitment; staff secondment; talent acquisition and campus recruitment; and technical training for staff and consultants. The company provides technical services comprising health, safety, environment; commissioning; project management support; work statement; and third-party inspection services.

Brunel International Fundamentals Summary

How do Brunel International's earnings and revenue compare to its market cap?
BRNL fundamental statistics
Market Cap	€529.21m
Earnings (TTM)	€31.00m
Revenue (TTM)	€899.67m

17.1x

P/E Ratio

0.6x

P/S Ratio

Is BRNL overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
BRNL income statement (TTM)
Revenue	€899.67m
Cost of Revenue	€690.88m
Gross Profit	€208.78m
Other Expenses	€177.79m
Earnings	€31.00m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

Jul 29, 2022

Earnings per share (EPS)	0.62
Gross Margin	23.21%
Net Profit Margin	3.45%
Debt/Equity Ratio	0%

How did BRNL perform over the long term?

See historical performance and comparison

Dividends

4.3%

Current Dividend Yield

73%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is BRNL 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
PEG Ratio

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for BRNL. This is calculated by dividing BRNL's market cap by their current preferred multiple.
What is BRNL's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	€529.21m

BRNL 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/Revenue	0.5x
Enterprise Value/EBITDA	10x
PEG Ratio	0.9x

Price to Earnings Ratio vs Peers

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

BRNL PE Ratio vs Peers

The above table shows the PE ratio for BRNL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	19.1x

Forward PE

Price-To-Earnings vs Peers: BRNL is good value based on its Price-To-Earnings Ratio (17.1x) compared to the peer average (19.1x).

Price to Earnings Ratio vs Industry

How does BRNL's PE Ratio compare vs other companies in the Professional Services Industry?

Price-To-Earnings vs Industry: BRNL is expensive based on its Price-To-Earnings Ratio (17.1x) compared to the Dutch Professional Services industry average (17.1x)

Price to Earnings Ratio vs Fair Ratio

What is BRNL'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.

BRNL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	17.1x
Fair PE Ratio	19.2x

Price-To-Earnings vs Fair Ratio: BRNL is good value based on its Price-To-Earnings Ratio (17.1x) compared to the estimated Fair Price-To-Earnings Ratio (19.2x).

Share Price vs Fair Value

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

Below Fair Value: BRNL (€10.5) is trading below our estimate of fair value (€41.47)

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

Price to Earnings Growth Ratio

PEG Ratio: BRNL is good value based on its PEG Ratio (0.9x)

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Future Growth

How is Brunel International 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

18.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: BRNL's forecast earnings growth (18.4% per year) is above the savings rate (0.09%).

Earnings vs Market: BRNL's earnings (18.4% per year) are forecast to grow faster than the Dutch market (-0.9% per year).

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

Revenue vs Market: BRNL's revenue (12.2% per year) is forecast to grow faster than the Dutch market (8.1% per year).

High Growth Revenue: BRNL's revenue (12.2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: BRNL's Return on Equity is forecast to be low in 3 years time (15.9%).

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Past Performance

How has Brunel International performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

23.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BRNL has high quality earnings.

Growing Profit Margin: BRNL's current net profit margins (3.4%) are higher than last year (1.7%).

Past Earnings Growth Analysis

Earnings Trend: BRNL's earnings have grown significantly by 23.5% per year over the past 5 years.

Accelerating Growth: BRNL's earnings growth over the past year (98.8%) exceeds its 5-year average (23.5% per year).

Earnings vs Industry: BRNL earnings growth over the past year (98.8%) underperformed the Professional Services industry 98.8%.

Return on Equity

High ROE: BRNL's Return on Equity (10.9%) is considered low.

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Financial Health

How is Brunel International'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: BRNL's short term assets (€365.1M) exceed its short term liabilities (€151.9M).

Long Term Liabilities: BRNL's short term assets (€365.1M) exceed its long term liabilities (€47.9M).

Debt to Equity History and Analysis

Debt Level: BRNL is debt free.

Reducing Debt: BRNL has not had any debt for past 5 years.

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

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

Balance Sheet

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Dividend

What is Brunel International 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
Future Dividend Coverage

4.29%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: BRNL's dividend (4.29%) is higher than the bottom 25% of dividend payers in the Dutch market (2.27%).

High Dividend: BRNL's dividend (4.29%) is low compared to the top 25% of dividend payers in the Dutch market (6.38%).

Stability and Growth of Payments

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

Growing Dividend: BRNL's dividend payments have not increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (73.3%), BRNL's dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (222.9%), BRNL's dividend payments are not well covered by cash flows.

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Management

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

6.3yrs

Average management tenure

CEO

Jilko Andringa (55 yo)

4.5yrs

Tenure

€1,038,000

Compensation

Dr. Jilko T. Andringa serves as the Chief Executive Officer at Brunel International N.V., since December 7, 2017. He was the President of Northern Europe at ManpowerGroup Inc. since December 31, 2015. Dr....

CEO Compensation Analysis

Compensation vs Market: Jilko's total compensation ($USD1.09M) is about average for companies of similar size in the Dutch market ($USD1.09M).

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

Leadership Team

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

Board Members

Experienced Board: BRNL's board of directors are considered experienced (3.1 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.

Data	Last Updated (UTC time)
Company Analysis	2022/06/25 00:00
End of Day Share Price	2022/06/24 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31