ENXTAM:ACOMO

Stock Analysis Report

Executive Summary

Amsterdam Commodities N.V., together with its subsidiaries, engages in sourcing, processing, trading, packaging, and distributing natural food products and ingredients for the food and beverage industry worldwide.

Rewards

Trading at 34.2% below its fair value

Earnings grew by 2.5% over the past year

Pays a high and reliable dividend of 4.91%

Risk Analysis

Earnings have declined by -0.55% per year over past 5 years

Has a high level of debt



Snowflake Analysis

Excellent balance sheet established dividend payer.

Share Price & News

How has Amsterdam Commodities's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ACOMO has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

ACOMO

1.0%

NL Consumer Retailing

0.5%

NL Market


1 Year Return

21.4%

ACOMO

7.9%

NL Consumer Retailing

14.5%

NL Market

Return vs Industry: ACOMO exceeded the Dutch Consumer Retailing industry which returned 7.9% over the past year.

Return vs Market: ACOMO exceeded the Dutch Market which returned 14.5% over the past year.


Shareholder returns

ACOMOIndustryMarket
7 Day0%1.0%0.5%
30 Day3.0%-2.1%-0.4%
90 Day9.3%0.3%4.2%
1 Year27.8%21.4%12.2%7.9%19.7%14.5%
3 Year18.3%2.3%2.5%-7.2%41.2%25.1%
5 Year40.8%11.5%28.4%8.7%73.9%39.2%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Amsterdam Commodities undervalued compared to its fair value and its price relative to the market?

34.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ACOMO (€20.35) is trading below our estimate of fair value (€30.95)

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


Price To Earnings Ratio

PE vs Industry: ACOMO is good value based on its PE Ratio (16x) compared to the Consumer Retailing industry average (20.3x).

PE vs Market: ACOMO is good value based on its PE Ratio (16x) compared to the Dutch market (20.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate ACOMO's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: ACOMO is overvalued based on its PB Ratio (2.6x) compared to the XE Consumer Retailing industry average (1.6x).


Next Steps

Future Growth

How is Amsterdam Commodities forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-0.7%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if ACOMO's forecast earnings growth is above the savings rate (-0.2%).

Earnings vs Market: Insufficient data to determine if ACOMO's earnings are forecast to grow faster than the Dutch market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ACOMO's revenue is expected to decline over the next 3 years (-0.7% per year).

High Growth Revenue: ACOMO's revenue is forecast to decline over the next 3 years (-0.7% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

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


Next Steps

Past Performance

How has Amsterdam Commodities performed over the past 5 years?

-0.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ACOMO has high quality earnings.

Growing Profit Margin: ACOMO's current net profit margins (4.4%) are lower than last year (4.4%).


Past Earnings Growth Analysis

Earnings Trend: ACOMO's earnings have declined by -0.5% per year over the past 5 years.

Accelerating Growth: ACOMO's earnings growth over the past year (2.5%) exceeds its 5-year average (-0.5% per year).

Earnings vs Industry: ACOMO earnings growth over the past year (2.5%) exceeded the Consumer Retailing industry 2.1%.


Return on Equity

High ROE: ACOMO's Return on Equity (16.1%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Amsterdam Commodities's financial position?


Financial Position Analysis

Short Term Liabilities: ACOMO's short term assets (€238.5M) exceed its short term liabilities (€144.6M).

Long Term Liabilities: ACOMO's short term assets (€238.5M) exceed its long term liabilities (€23.2M).


Debt to Equity History and Analysis

Debt Level: ACOMO's debt to equity ratio (50.6%) is considered high.

Reducing Debt: ACOMO's debt to equity ratio has reduced from 75.7% to 50.6% over the past 5 years.

Debt Coverage: ACOMO's debt is well covered by operating cash flow (48.5%).

Interest Coverage: ACOMO's interest payments on its debt are well covered by EBIT (9.7x coverage).


Balance Sheet

Inventory Level: ACOMO has a high level of physical assets or inventory.

Debt Coverage by Assets: ACOMO's debt is covered by short term assets (assets are 2.4x debt).


Next Steps

Dividend

What is Amsterdam Commodities's current dividend yield, its reliability and sustainability?

4.91%

Current Dividend Yield


Dividend Yield vs Market

company4.9%marketbottom25%2.2%markettop25%5.6%industryaverage3.5%forecastin3Years5.2%

Current dividend yield vs market & industry

Notable Dividend: ACOMO's dividend (4.91%) is higher than the bottom 25% of dividend payers in the Dutch market (2.19%).

High Dividend: ACOMO's dividend (4.91%) is low compared to the top 25% of dividend payers in the Dutch market (5.65%).


Stability and Growth of Payments

Stable Dividend: ACOMO's dividends per share have been stable in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (78.6%), ACOMO's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ACOMO's dividends in 3 years are forecast to be covered by earnings (89.4% payout ratio).


Next Steps

Management

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

2.7yrs

Average board tenure


CEO

Allard Goldschmeding (55yo)

0yrs

Tenure

€710,000

Compensation

Mr. Allard W. Goldschmeding has been Chief Financial Officer of Amsterdam Commodities N.V. since December 1, 2015 and has been its Group Managing Director and Director since April 2017. Mr. Goldschmeding s ...


CEO Compensation Analysis

Compensation vs Market: Allard's total compensation ($USD786.09K) is about average for companies of similar size in the Dutch market ($USD903.75K).

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


Board Age and Tenure

2.7yrs

Average Tenure

56yo

Average Age

Experienced Board: ACOMO's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.


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

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


Management Team

  • Anton van Eck

    Managing Director of Red River-Van Eck

    • Tenure: 0yrs
  • Bob Majkrzak

    CEO & President of Red River Commodities Inc

    • Tenure: 0yrs
  • Allard Goldschmeding (55yo)

    CFO, Group MD & Executive Director

    • Tenure: 0yrs
    • Compensation: €710.00k
  • Philippe H. E. Snick

    Managing Director of Snick Euroingredients

    • Tenure: 10.9yrs
  • Henk Moerman

    Managing Director of Catz International

    • Tenure: 0yrs
  • Jaap Klijn

    Managing Director of King Nuts & Raaphorst

    • Tenure: 0yrs
  • Lars Reinecke

    Managing Director of Sigco Warenhandel

    • Tenure: 0yrs
  • Bruce Wiebie

    President & CEO of Red River Global Ingredients

    • Tenure: 0yrs
  • Richard J. Strijbis

    Managing Director of Tovano B.V.

    • Tenure: 0yrs
  • Tinus den Boon

    Managing Director of Delinuts B.V

    • Tenure: 0yrs

Board Members

  • Bernard Stuivinga (63yo)

    Non-Executive Chairman

    • Tenure: 2.7yrs
  • Yoav Gottesmann (67yo)

    Non-Executive Director

    • Tenure: 2.7yrs
  • Machtelt Groothuis (49yo)

    Non-Executive Director

    • Tenure: 2.7yrs
  • Jan G. H. Niessen (56yo)

    Non-Executive Director

    • Tenure: 2.7yrs
  • Allard Goldschmeding (55yo)

    CFO, Group MD & Executive Director

    • Tenure: 0yrs
    • Compensation: €710.00k

Company Information

Amsterdam Commodities N.V.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Amsterdam Commodities N.V.
  • Ticker: ACOMO
  • Exchange: ENXTAM
  • Founded: 1856
  • Industry: Food Distributors
  • Sector: Consumer Retailing
  • Market Cap: €501.659m
  • Shares outstanding: 24.65m
  • Website: https://www.acomo.nl

Number of Employees


Location

  • Amsterdam Commodities N.V.
  • WTC
  • 21st Floor
  • Rotterdam
  • Zuid-Holland
  • 3011 AA
  • Netherlands

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ACNF.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
ACOMOENXTAM (Euronext Amsterdam)YesOrdinary SharesNLEURJan 1992
0DLILSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
ACOMOABATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992
8ACBST (Boerse-Stuttgart)YesOrdinary SharesDEEURJan 1992
8ACDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992

Biography

Amsterdam Commodities N.V., together with its subsidiaries, engages in sourcing, processing, trading, packaging, and distributing natural food products and ingredients for the food and beverage industry wo ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/09 20:39
End of Day Share Price2019/12/09 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.