Corbion
Market Cap
€2.8b
Last Updated
2021/03/01 20:24 UTC
Data Sources
Company Financials +
Executive Summary
Corbion N.V. provides lactic acid and lactic acid derivatives, emulsifiers, functional enzyme blends, minerals, vitamins, and algae ingredients worldwide. More Details
Rewards
Risk Analysis
Snowflake Analysis
Adequate balance sheet and slightly overvalued.
Similar Companies
Share Price & News
How has Corbion's share price performed over time and what events caused price changes?
Latest Share Price and Events
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.
Market Performance
7 Day Return
-2.7%
CRBN
-2.9%
NL Chemicals
-4.3%
NL Market
1 Year Return
45.3%
CRBN
27.2%
NL Chemicals
22.5%
NL Market
Return vs Industry: CRBN exceeded the Dutch Chemicals industry which returned 27.2% over the past year.
Return vs Market: CRBN exceeded the Dutch Market which returned 22.5% over the past year.
Shareholder returns
| CRBN | Industry | Market | |
|---|---|---|---|
| 7 Day | -2.7% | -2.9% | -4.3% |
| 30 Day | -0.3% | -1.8% | 4.1% |
| 90 Day | 9.4% | 0.3% | 10.4% |
| 1 Year | 47.9%45.3% | 29.9%27.2% | 24.8%22.5% |
| 3 Year | 98.1%86.9% | 49.2%30.0% | 21.1%9.0% |
| 5 Year | 178.7%143.6% | 130.6%87.6% | 60.6%31.0% |
Long-Term Price Volatility Vs. Market
How volatile is Corbion's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall St
Here's What Corbion N.V.'s (AMS:CRBN) Shareholder Ownership Structure Looks Like1 month ago | Simply Wall St
Corbion N.V.'s (AMS:CRBN) Financial Prospects Don't Look Very Positive: Could It Mean A Stock Price Drop In The Future?2 months ago | Simply Wall St
Did You Participate In Any Of Corbion's (AMS:CRBN) Fantastic 141% Return ?Valuation
Is Corbion undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: CRBN (€47.1) is trading below our estimate of fair value (€122.05)
Significantly Below Fair Value: CRBN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: CRBN is poor value based on its PE Ratio (114.1x) compared to the NL Chemicals industry average (25.7x).
PE vs Market: CRBN is poor value based on its PE Ratio (114.1x) compared to the Dutch market (26x).
Price to Earnings Growth Ratio
PEG Ratio: CRBN is poor value based on its PEG Ratio (5.7x)
Price to Book Ratio
PB vs Industry: CRBN is overvalued based on its PB Ratio (5.7x) compared to the NL Chemicals industry average (3x).
Next Steps
Future Growth
How is Corbion forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
20.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CRBN's forecast earnings growth (20.1% per year) is above the savings rate (0.2%).
Earnings vs Market: CRBN's earnings (20.1% per year) are forecast to grow slower than the Dutch market (26.7% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: CRBN's revenue (2.4% per year) is forecast to grow slower than the Dutch market (10.4% per year).
High Growth Revenue: CRBN's revenue (2.4% 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 (11.8%).
Next Steps
Past Performance
How has Corbion performed over the past 5 years?
-14.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CRBN has a large one-off loss of €38.4M impacting its June 30 2020 financial results.
Growing Profit Margin: CRBN's current net profit margins (2.4%) are lower than last year (5.2%).
Past Earnings Growth Analysis
Earnings Trend: CRBN's earnings have declined by 14.3% per year over the past 5 years.
Accelerating Growth: CRBN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: CRBN had negative earnings growth (-49.6%) over the past year, making it difficult to compare to the Chemicals industry average (-29.3%).
Return on Equity
High ROE: CRBN's Return on Equity (5%) is considered low.
Next Steps
Financial Health
How is Corbion's financial position?
Financial Position Analysis
Short Term Liabilities: CRBN's short term assets (€403.0M) exceed its short term liabilities (€400.2M).
Long Term Liabilities: CRBN's short term assets (€403.0M) exceed its long term liabilities (€209.9M).
Debt to Equity History and Analysis
Debt Level: CRBN's debt to equity ratio (67.8%) is considered high.
Reducing Debt: CRBN's debt to equity ratio has increased from 24.8% to 67.8% over the past 5 years.
Debt Coverage: CRBN's debt is well covered by operating cash flow (32.2%).
Interest Coverage: CRBN's interest payments on its debt are well covered by EBIT (7x coverage).
Balance Sheet
Next Steps
Dividend
What is Corbion current dividend yield, its reliability and sustainability?
1.17%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: CRBN's dividend (1.19%) isn’t notable compared to the bottom 25% of dividend payers in the Dutch market (1.89%).
High Dividend: CRBN's dividend (1.19%) is low compared to the top 25% of dividend payers in the Dutch market (4.27%).
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 high payout ratio (135.6%), CRBN's dividend payments are not 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 (42.9% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.0yrs
Average management tenure
CEO
Olivier Rigaud (56 yo)
1.5yrs
Tenure
€831,000
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 ($USD1.01M) is below average for companies of similar size in the Dutch market ($USD2.28M).
Compensation vs Earnings: Insufficient data to compare Olivier's compensation with company performance.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Chairman of the Management Board | 1.5yrs | €831.00k | no data | |
| CFO & Member of Management Board | 6.75yrs | €991.00k | 0.12% € 3.3m | |
| COO & Executive VP of Operations | 3.83yrs | no data | no data | |
| President of Algae Ingredients & Member of Management Board | 0.83yr | no data | no data | |
| President of Lactic Acid & Specialties and Member of Management Board | 0.83yr | no data | no data | |
| CTO and Chief Science & Sustainability Officer | 4.25yrs | no data | no data | |
| Director of Investor Relations | no data | no data | no data | |
| Director of Corporate Communications | no data | no data | no data | |
| Executive Vice President of Innovation Platforms | no data | no data | no data | |
| President of Sustainable Food Solutions & Executive VP of Ingredient Solution | 6.08yrs | no data | no data | |
| Company Secretary | 8.08yrs | no data | no data |
4.0yrs
Average Tenure
56yo
Average Age
Experienced Management: CRBN's management team is considered experienced (4 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Member of Supervisory Board | 6.75yrs | €73.00k | no data | |
| Vice Chairman of the Supervisory Board | 5.75yrs | €76.00k | no data | |
| Chairman of Supervisory Board | 5.75yrs | €93.00k | no data | |
| Member of the Supervisory Board | 9.75yrs | €65.00k | no data | |
| Member of the Supervisory Board | 0.67yr | no data | no data | |
| Member of Supervisory Board | 5.75yrs | €60.00k | no data |
5.8yrs
Average Tenure
66yo
Average Age
Experienced Board: CRBN's board of directors are considered experienced (5.8 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 company bio, 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: €2.820b
- Shares outstanding: 58.82m
- Website: https://www.corbion.com
Number of Employees
Location
- Corbion N.V.
- Piet Heinkade 127
- Amsterdam
- Noord-Holland
- 1019 GM
- Netherlands
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| CSUA | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Mar 1993 |
| CRBN | ENXTAM (Euronext Amsterdam) | Yes | Ordinary Shares | NL | EUR | Mar 1993 |
| CSNV.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Mar 1993 |
| 0QHL | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | EUR | Mar 1993 |
| CRBNA | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | EUR | Mar 1993 |
| CSNV.Y | OTCPK (Pink Sheets LLC) | ADR | US | USD | Dec 2008 |
Biography
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 ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/03/01 20:24 |
| End of Day Share Price | 2021/03/01 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2019/12/31 |
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.