CRBN

CorbionENXTAM:CRBN Stock Report

Market Cap

€2.6b

7D

1.9%

1Y

20.0%

Updated

21 Sep, 2021

Data

Company Financials +
CRBN fundamental analysis
Snowflake Score
Valuation0/6
Future Growth1/6
Past Performance4/6
Financial Health4/6
Dividends2/6

CRBN Overview

Corbion N.V. provides lactic acid and lactic acid derivatives, emulsifiers, functional enzyme blends, minerals, vitamins, and algae ingredients worldwide.

Corbion Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Corbion
Historical stock prices
Current Share Price€44.40
52 Week High€36.70
52 Week Low€53.90
Beta0.77
1 Month Change-4.39%
3 Month Change-1.81%
1 Year Change20.00%
3 Year Change58.12%
5 Year Change85.23%
Change since IPO69.66%

Recent News & Updates

Sep 21
We Think Corbion (AMS:CRBN) Is Taking Some Risk With Its Debt

We Think Corbion (AMS:CRBN) Is Taking Some Risk With Its Debt

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

Sep 01
Corbion (AMS:CRBN) Could Be Struggling To Allocate Capital

Corbion (AMS:CRBN) Could Be Struggling To Allocate Capital

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...

Aug 17
I Ran A Stock Scan For Earnings Growth And Corbion (AMS:CRBN) Passed With Ease

I Ran A Stock Scan For Earnings Growth And Corbion (AMS:CRBN) Passed With Ease

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...

Shareholder Returns

CRBNNL ChemicalsNL Market
7D1.9%-0.2%-1.3%
1Y20.0%32.0%37.7%

Return vs Industry: CRBN underperformed the Dutch Chemicals industry which returned 33.3% over the past year.

Return vs Market: CRBN underperformed the Dutch Market which returned 39% over the past year.

Price Volatility

Is CRBN's price volatile compared to industry and market?
CRBN volatility
CRBN Beta0.77
Industry Beta0.76
Market Beta1

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

Volatility Over Time: CRBN's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19192,352Olivier Rigaudhttps://www.corbion.com

Corbion N.V. provides lactic acid and lactic acid derivatives, emulsifiers, functional enzyme blends, minerals, vitamins, and algae ingredients worldwide. The company offers ingredient solutions made from renewable resources for the food, home and personal care, animal nutrition, pharmaceutical, medical device, and bioplastics markets. It markets its products through a network of sales offices and distributors.

Valuation

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

22.58x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CRBN (€44.4) is trading above our estimate of fair value (€29.81)

Significantly Below Fair Value: CRBN is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: CRBN is poor value based on its PE Ratio (22.6x) compared to the Dutch Chemicals industry average (21.6x).

PE vs Market: CRBN is poor value based on its PE Ratio (22.6x) compared to the Dutch market (21.8x).


Price to Earnings Growth Ratio

PEG Ratio: CRBN is poor value based on its PEG Ratio (4.5x)


Price to Book Ratio

PB vs Industry: CRBN is overvalued based on its PB Ratio (4.7x) compared to the NL Chemicals industry average (3.4x).


Future Growth

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

5.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CRBN's forecast earnings growth (5.1% per year) is above the savings rate (0.1%).

Earnings vs Market: CRBN's earnings (5.1% per year) are forecast to grow slower than the Dutch market (12.2% per year).

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

Revenue vs Market: CRBN's revenue (6.4% per year) is forecast to grow slower than the Dutch market (9.2% per year).

High Growth Revenue: CRBN's revenue (6.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CRBN's Return on Equity is forecast to be low in 3 years time (14.4%).


Past Performance

How has Corbion performed over the past 5 years?

-12.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CRBN has a large one-off gain of €35.1M impacting its June 30 2021 financial results.

Growing Profit Margin: CRBN's current net profit margins (11.5%) are higher than last year (2.4%).


Past Earnings Growth Analysis

Earnings Trend: CRBN's earnings have declined by 12% per year over the past 5 years.

Accelerating Growth: CRBN's earnings growth over the past year (377%) exceeds its 5-year average (-12% per year).

Earnings vs Industry: CRBN earnings growth over the past year (377%) exceeded the Chemicals industry 67.1%.


Return on Equity

High ROE: CRBN's Return on Equity (20.6%) is considered high.


Financial Health

How is Corbion's financial position?


Financial Position Analysis

Short Term Liabilities: CRBN's short term assets (€420.5M) exceed its short term liabilities (€273.1M).

Long Term Liabilities: CRBN's short term assets (€420.5M) exceed its long term liabilities (€333.1M).


Debt to Equity History and Analysis

Debt Level: CRBN's debt to equity ratio (58.4%) is considered high.

Reducing Debt: CRBN's debt to equity ratio has increased from 31.3% to 58.4% over the past 5 years.

Debt Coverage: CRBN's debt is well covered by operating cash flow (29.4%).

Interest Coverage: CRBN's interest payments on its debt are well covered by EBIT (35.7x coverage).


Balance Sheet


Dividend

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

1.26%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CRBN's dividend (1.26%) isn’t notable compared to the bottom 25% of dividend payers in the Dutch market (1.42%).

High Dividend: CRBN's dividend (1.26%) is low compared to the top 25% of dividend payers in the Dutch market (4.67%).


Stability and Growth of Payments

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

Growing Dividend: CRBN's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (28.5%), CRBN's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CRBN's dividends in 3 years are forecast to be well covered by earnings (38.3% payout ratio).


Next Steps

Management

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

6.7yrs

Average management tenure


CEO

Olivier Rigaud (57 yo)

2.08yrs

Tenure

€1,251,000

Compensation

Mr. Olivier Rigaud serves as Chief Executive Officer and Chairman of the Management Board at Corbion N.V. since August 8, 2019. Mr. Rigaud served as Chief Executive Officer of Naturex S.A. since October 1,...


CEO Compensation Analysis

Compensation vs Market: Olivier's total compensation ($USD1.47M) is below average for companies of similar size in the Dutch market ($USD2.27M).

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


Leadership Team

Experienced Management: CRBN's management team is seasoned and experienced (6.7 years average tenure).


Board Members

Experienced Board: CRBN's board of directors are considered experienced (6.3 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

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


Key Information

  • Name: Corbion N.V.
  • Ticker: CRBN
  • Exchange: ENXTAM
  • Founded: 1919
  • Industry: Specialty Chemicals
  • Sector: Materials
  • Market Cap: €2.617b
  • Shares outstanding: 58.95m
  • Website: https://www.corbion.com

Number of Employees


Location

  • Corbion N.V.
  • Piet Heinkade 127
  • Amsterdam
  • Noord-Holland
  • 1019 GM
  • Netherlands

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/21 22:31
End of Day Share Price2021/09/21 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.