ENXTLS:COR

Stock Analysis Report

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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. More Details


Snowflake Analysis

Excellent balance sheet average dividend payer.

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

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


Market Performance


7 Day Return

-4.0%

COR

3.1%

PT Packaging

-1.7%

PT Market


1 Year Return

6.5%

COR

16.6%

PT Packaging

-9.4%

PT Market

Return vs Industry: COR underperformed the Portuguese Packaging industry which returned 15.6% over the past year.

Return vs Market: COR exceeded the Portuguese Market which returned -8.6% over the past year.


Shareholder returns

CORIndustryMarket
7 Day-4.0%3.1%-1.7%
30 Day4.6%4.6%-5.4%
90 Day2.4%9.0%-5.8%
1 Year9.4%6.5%19.6%16.6%-6.0%-9.4%
3 Year-6.8%-13.8%13.3%2.5%-1.4%-12.3%
5 Year165.8%123.1%55.1%32.9%4.3%4.3%

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 compared to its fair value and its price relative to the market?

20.16x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: COR (€10.44) is trading above our estimate of fair value (€10.04)

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


Price To Earnings Ratio

PE vs Industry: COR is poor value based on its PE Ratio (20.2x) compared to the XE Packaging industry average (14.6x).

PE vs Market: COR is poor value based on its PE Ratio (20.2x) compared to the Portuguese market (14.9x).


Price to Earnings Growth Ratio

PEG Ratio: COR is poor value based on its PEG Ratio (1.4x)


Price to Book Ratio

PB vs Industry: COR is overvalued based on its PB Ratio (2.7x) compared to the XE Packaging industry average (1.8x).


Next Steps

Future Growth

How is Corticeira Amorim S.G.P.S forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

14.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: COR's forecast earnings growth (14.8% per year) is above the savings rate (2.1%).

Earnings vs Market: COR's earnings (14.8% per year) are forecast to grow slower than the Portuguese market (15.5% per year).

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

Revenue vs Market: COR's revenue (4.3% per year) is forecast to grow slower than the Portuguese market (5% per year).

High Growth Revenue: COR's revenue (4.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: COR's Return on Equity is forecast to be low in 3 years time (15.4%).


Next Steps

Past Performance

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

4.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: COR has high quality earnings.

Growing Profit Margin: COR's current net profit margins (9.1%) are lower than last year (9.9%).


Past Earnings Growth Analysis

Earnings Trend: COR's earnings have grown by 4.1% per year over the past 5 years.

Accelerating Growth: COR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: COR had negative earnings growth (-10%) over the past year, making it difficult to compare to the Packaging industry average (19.5%).


Return on Equity

High ROE: COR's Return on Equity (13.3%) is considered low.


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 (€704.3M) exceed its short term liabilities (€384.6M).

Long Term Liabilities: COR's short term assets (€704.3M) exceed its long term liabilities (€131.3M).


Debt to Equity History and Analysis

Debt Level: COR's debt to equity ratio (34.5%) is considered satisfactory.

Reducing Debt: COR's debt to equity ratio has increased from 30.6% to 34.5% over the past 5 years.

Debt Coverage: COR's debt is well covered by operating cash flow (61.5%).

Interest Coverage: COR's interest payments on its debt are well covered by EBIT (57.9x coverage).


Balance Sheet


Next Steps

Dividend

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

2.59%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: COR's dividend (2.59%) is higher than the bottom 25% of dividend payers in the Portuguese market (2.57%).

High Dividend: COR's dividend (2.59%) is low compared to the top 25% of dividend payers in the Portuguese market (7.85%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (35.7%), 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 (39.6% payout ratio).


Next Steps

Management

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

8.2yrs

Average board tenure


CEO

António de Amorim (52 yo)

19.5yrs

Tenure

€359,675

Compensation

Mr. António 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: António's total compensation ($USD422.25K) is below average for companies of similar size in the Portuguese market ($USD1.02M).

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


Board Members

NamePositionTenureCompensationOwnership
António de Amorim
Chairman & CEO19.5yrs€359.68kno data
Nuno Filipe Vilela de Oliveira
Vice-Chairmanno data€229.68kno data
Fernando de Araújo dos Santos Almeida
Executive Director11.17yrs€211.04kno data
Luisa Alexandra Amorim
Non-Executive Director17.5yrs€63.00kno data
Cristina de Amorim Baptista
Non-Executive Director8.17yrs€144.27kno data
Juan Vinas
Non-Executive Director8.17yrsno datano data
Manuel Fernandes
Chairman of Supervisory Boardno data€12.00kno data
Eugenio Luis Lopes Ferreira
Member of Supervisory Board6.5yrs€9.60kno data
Marta Parreira Coelho Ribeiro
Member of Supervisory Board1.42yrs€7.20kno data

8.2yrs

Average Tenure

52yo

Average Age

Experienced Board: COR's board of directors are considered experienced (8.2 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

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: €1.389b
  • 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
  • Norte
  • 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 through Raw Materials, Cork Stoppers, Floor and Wall Coverings, Composite Cork, and I ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/29 21:04
End of Day Share Price2020/09/29 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.