ENXTLS:COR

Stock Analysis Report

Corticeira Amorim S.G.P.S

Executive Summary

Corticeira Amorim, S.G.P.S., S.A. manufactures and sells cork and cork related products worldwide.

Snowflake

Fundamentals

Flawless balance sheet with moderate growth potential.

Share Price & News

How has Corticeira Amorim S.G.P.S's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

3.3%

COR

2.0%

PT Packaging

1.4%

PT Market


1 Year Return

-5.6%

COR

3.6%

PT Packaging

4.0%

PT Market

Return vs Industry: COR underperformed the Portuguese Packaging industry which returned 3.6% over the past year.

Return vs Market: COR underperformed the Portuguese Market which returned 4% over the past year.


Share holder returns

CORIndustryMarket
7 Day3.3%2.0%1.4%
30 Day-3.2%-1.2%-0.6%
90 Day-1.0%0.2%-1.0%
1 Year-3.0%-5.6%7.0%3.6%8.4%4.0%
3 Year16.5%7.7%22.7%10.1%25.3%-11.1%
5 Year315.5%237.9%99.9%66.0%16.5%-54.4%

Price Volatility Vs. Market

How volatile is Corticeira Amorim S.G.P.S's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Corticeira Amorim S.G.P.S undervalued based on future cash flows and its price relative to the stock market?

17.03x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Undervalued: COR (€9.8) is trading above our estimate of fair value (€9.56)

Significantly Undervalued: COR is trading above our estimate of fair value.


Price Based on Earnings

PE vs Industry: COR is poor value based on its PE Ratio (17x) compared to the Packaging industry average (15.1x).

PE vs Market: COR is poor value based on its PE Ratio (17x) compared to the Portuguese market (15.5x).


Price Based on Expected Growth

Low PEG Ratio: COR is poor value based on its PEG Ratio (1.3x)


Price Based on Value of Assets

PB vs Industry: COR is overvalued based on its PB Ratio (2.7x) compared to the XE Packaging industry average (1.6x).


Next Steps

Future Growth

How is Corticeira Amorim S.G.P.S expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

13.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Earnings vs Savings Rate: COR's forecast earnings growth (13% per year) is above the savings rate (1.8%).

Earnings vs Market: COR's earnings (13% per year) are forecast to grow faster than the Portuguese market (7.9% per year).

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

Revenue vs Market: COR's revenue (4.4% per year) is forecast to grow faster than the Portuguese market (3.2% per year).

High Growth Revenue: COR's revenue (4.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Estimates


Future Return on Equity

High Future ROE: COR's Return on Equity is forecast to be low in 3 years time (17%).


Next Steps

Past Performance

How has Corticeira Amorim S.G.P.S performed over the past 5 years?

15.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: COR's earnings have grown by 15.8% per year over the past 5 years.

Accelerating Growth: COR's earnings growth over the past year (0.06%) is below its 5-year average (15.8% per year).

Earnings vs Industry: COR earnings growth over the past year (0.06%) underperformed the Packaging industry 4%.


Return on Equity

High ROE: COR's Return on Equity (15.6%) is considered low.


Return on Assets

ROA vs Industry: COR has a higher Return on Assets than the Packaging industry average last year.


Return on Capital Employed

ROCE Improving: COR's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Corticeira Amorim S.G.P.S's financial position?


Financial Position Analysis

Short Term Liabilities: COR's short term assets (€688.8M) exceeds its short term liabilities (€364.2M)

Long Term Liabilities: COR's short term assets (688.8M) exceeds its long term liabilities (136.8M)


Debt to Equity History and Analysis

Debt Level: COR's debt to equity ratio (32.4%) is considered satisfactory

Reducing Debt: COR's debt to equity ratio has reduced from 38% to 32.4% over the past 5 years.

Debt Coverage: COR's debt is well covered by operating cash flow (31.3%).

Interest Coverage: COR's interest payments on its debt are well covered by EBIT (37.8x coverage).


Balance Sheet

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

Debt Coverage by Assets: COR's debt is covered by short term assets (assets are 4.119480x debt).


Next Steps

Dividend

What is Corticeira Amorim S.G.P.S's current dividend yield, its reliability and sustainability?

2.96%

Expected Dividend Yield


Dividend Yield vs Market

company2.8%marketbottom25%3.0%markettop25%6.7%industryaverage2.8%forecastin3Years3.0%

Current dividend yield vs market & industry


Dividend Yield and Payments Analysis

Notable Dividend: COR's dividend (2.76%) isn’t notable compared to the bottom 25% of dividend payers in the Portuguese market (3.04%).

High Dividend: COR's dividend (2.76%) is low compared to the top 25% of dividend payers in the Portuguese market (6.74%).

Stable Dividend: COR has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: COR's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (32.2%), COR's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: COR's dividends in 3 years are forecast to be well covered by earnings (37.4% payout ratio).


Next Steps

Management

What is the CEO of Corticeira Amorim S.G.P.S's salary, the management and board of directors tenure and is there insider trading?

7.3yrs

Average board tenure


CEO

Antonio de Amorim (51yo)

18.6yrs

Tenure

€349,839

Compensation

Mr. Antonio Rios De Amorim has been Executive Chairman and Chief Executive Officer of Corticeira Amorim SGPS SA since March 31, 2001 and serves as its Director since March 29, 1990. Mr. De Amorim serves as ...


CEO Compensation Analysis

Compensation vs. Market: Antonio's total compensation ($USD0.00) is too low to compare against companies of similar size in the Portuguese market ($USD690.21K).

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


Board Age and Tenure

7.3yrs

Average Tenure

50.5yo

Average Age

Experienced Board: COR's board of directors are considered experienced (7.3 years average tenure).


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


Management Team

  • Antonio de Amorim (51yo)

    Chairman & CEO

    • Tenure: 18.6yrs
    • Compensation: €349.84k
  • Joaquim de Amorim (82yo)

    Adviser to the Board of Directors

    • Tenure: 7.3yrs
  • Pedro Magalhães

    Secretary

    • Tenure: 0yrs
  • Pedro Nuno Duarte

    Alternate Secretary

    • Tenure: 0yrs
  • Nuno Felipe Vilela de Oliveira (48yo)

    Vice-Chairman

    • Tenure: 0yrs
    • Compensation: €224.84k
  • Fernando de Araújo dos Santos Almeida (57yo)

    Executive Director

    • Tenure: 10.3yrs
    • Compensation: €201.12k

Board Members

  • Antonio de Amorim (51yo)

    Chairman & CEO

    • Tenure: 18.6yrs
    • Compensation: €349.84k
  • Nuno Felipe Vilela de Oliveira (48yo)

    Vice-Chairman

    • Tenure: 0yrs
    • Compensation: €224.84k
  • Luisa Alexandra Amorim (45yo)

    Non-Executive Director

    • Tenure: 16.6yrs
    • Compensation: €63.00k
  • Fernando de Araújo dos Santos Almeida (57yo)

    Executive Director

    • Tenure: 10.3yrs
    • Compensation: €201.12k
  • Cristina de Amorim Baptista (50yo)

    Non-Executive Director

    • Tenure: 7.3yrs
    • Compensation: €144.27k
  • Juan Vinas (78yo)

    Non-Executive Director

    • Tenure: 7.3yrs
  • Manuel Fernandes

    Chairman of Supervisory Board

    • Tenure: 0yrs
  • Ana de Sousa e Silva

    Member of Supervisory Board

    • Tenure: 0yrs
  • Eugenio Luis Lopes Ferreira

    Member of Supervisory Board

    • Tenure: 5.6yrs
  • Marta Parreira Coelho Ribeiro

    Substitute Member of Supervisory Board

    • Tenure: 0.3yrs

Company Information

Corticeira Amorim, S.G.P.S., S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Corticeira Amorim, S.G.P.S., S.A.
  • Ticker: COR
  • Exchange: ENXTLS
  • Founded: 1870
  • Industry: Metal and Glass Containers
  • Sector: Materials
  • Market Cap: €1.303b
  • Shares outstanding: 133.00m
  • Website: https://www.corticeiraamorim.com

Number of Employees


Location

  • Corticeira Amorim, S.G.P.S., S.A.
  • Edifício Amorim I
  • Rua de Meladas, Nº 380
  • Mozelos
  • 4536-902
  • Portugal

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CORENXTLS (Euronext Lisbon)YesOrdinary SharesPTEURJan 1992
0O7JLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
CORUBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992
AS4DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992

Biography

Corticeira Amorim, S.G.P.S., S.A. manufactures and sells cork and cork related products worldwide. The company operates in five business units: Raw Materials, Cork Stoppers, Floor and Wall Coverings, Compo ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/13 20:50
End of Day Share Price2019/10/11 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.

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