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Acron

MISX:AKRN
Snowflake Description

Reasonable growth potential average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AKRN
MISX
RUB185B
Market Cap
  1. Home
  2. RU
  3. Materials
Company description

Public Joint Stock Company Acron, together with its subsidiaries, manufactures, distributes, and sells chemical fertilizers and related mineral by-products in Russia, European Union, the Commonwealth of Independent States, the United States, Canada, Latin America, the People’s Republic of China, rest of Asia, and other regions. The last earnings update was 111 days ago. More info.


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AKRN Share Price and Events
7 Day Returns
-0.3%
MISX:AKRN
-1%
RU Chemicals
-3%
RU Market
1 Year Returns
10.7%
MISX:AKRN
9.3%
RU Chemicals
1.3%
RU Market
AKRN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Acron (AKRN) -0.3% -2.1% 5.8% 10.7% 24.8% 345.3%
RU Chemicals -1% 3.4% 5.8% 9.3% 6.8% 100%
RU Market -3% -0.6% 5.9% 1.3% 30.8% 92.1%
1 Year Return vs Industry and Market
  • AKRN outperformed the Chemicals industry which returned 9.3% over the past year.
  • AKRN outperformed the Market in Russian Federation which returned 1.3% over the past year.
Price Volatility
AKRN
Industry
5yr Volatility vs Market

Value

 Is Acron undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Acron to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Acron.

MISX:AKRN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 20%
Perpetual Growth Rate 10-Year RU Government Bond Rate 8.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for MISX:AKRN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year RU Govt Bond Rate 8.4%
Equity Risk Premium S&P Global 9.4%
Chemicals Unlevered Beta Simply Wall St/ S&P Global 0.97
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.975 (1 + (1- 20%) (47.35%))
1.23
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.23
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 8.44% + (1.23 * 9.43%)
20.04%

Discounted Cash Flow Calculation for MISX:AKRN using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Acron is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

MISX:AKRN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (RUB, Millions) Source Present Value
Discounted (@ 20.04%)
2019 19,462.15 Analyst x2 16,212.67
2020 19,702.20 Analyst x2 13,672.32
2021 20,369.77 Est @ 3.39% 11,775.45
2022 21,368.66 Est @ 4.9% 10,290.40
2023 22,643.23 Est @ 5.96% 9,083.58
2024 24,161.97 Est @ 6.71% 8,074.49
2025 25,908.18 Est @ 7.23% 7,212.46
2026 27,874.86 Est @ 7.59% 6,464.32
2027 30,061.83 Est @ 7.85% 5,807.50
2028 32,473.98 Est @ 8.02% 5,226.05
Present value of next 10 years cash flows RUB93,819.24
MISX:AKRN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= RUB32,473.98 × (1 + 8.44%) ÷ (20.04% – 8.44%)
RUB303,501.67
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= RUB303,501.67 ÷ (1 + 20.04%)10
RUB48,842.60
MISX:AKRN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= RUB93,819.24 + RUB48,842.60
RUB142,661.84
Equity Value per Share
(RUB)
= Total value / Shares Outstanding
= RUB142,661.84 / 39.30
RUB3629.8
MISX:AKRN Discount to Share Price
Calculation Result
Value per share (RUB) From above. RUB3,629.80
Current discount Discount to share price of RUB4,698.00
= -1 x (RUB4,698.00 - RUB3,629.80) / RUB3,629.80
-29.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Acron is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Acron's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Acron's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
MISX:AKRN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in RUB RUB275.09
MISX:AKRN Share Price ** MISX (2019-03-19) in RUB RUB4698
Russian Federation Chemicals Industry PE Ratio Median Figure of 6 Publicly-Listed Chemicals Companies 13.19x
Russian Federation Market PE Ratio Median Figure of 128 Publicly-Listed Companies 7.24x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Acron.

MISX:AKRN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= MISX:AKRN Share Price ÷ EPS (both in RUB)

= 4698 ÷ 275.09

17.08x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Acron is overvalued based on earnings compared to the RU Chemicals industry average.
  • Acron is overvalued based on earnings compared to the Russian Federation market.
Price based on expected Growth
Does Acron's expected growth come at a high price?
Raw Data
MISX:AKRN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.08x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
18%per year
Europe Chemicals Industry PEG Ratio Median Figure of 62 Publicly-Listed Chemicals Companies 2.06x
Russian Federation Market PEG Ratio Median Figure of 31 Publicly-Listed Companies 0.58x

*Line of best fit is calculated by linear regression .

MISX:AKRN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.08x ÷ 18%

0.95x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Acron is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Acron's assets?
Raw Data
MISX:AKRN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in RUB RUB1,351.63
MISX:AKRN Share Price * MISX (2019-03-19) in RUB RUB4698
Russian Federation Chemicals Industry PB Ratio Median Figure of 8 Publicly-Listed Chemicals Companies 2.56x
Russian Federation Market PB Ratio Median Figure of 150 Publicly-Listed Companies 0.83x
MISX:AKRN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= MISX:AKRN Share Price ÷ Book Value per Share (both in RUB)

= 4698 ÷ 1,351.63

3.48x

* Primary Listing of Acron.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Acron is overvalued based on assets compared to the RU Chemicals industry average.
X
Value checks
We assess Acron's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Chemicals industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Chemicals industry average (and greater than 0)? (1 check)
  5. Acron has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Acron expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
18%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Acron expected to grow at an attractive rate?
  • Acron's earnings growth is expected to exceed the low risk savings rate of 8.4%.
Growth vs Market Checks
  • Acron's earnings growth is expected to exceed the Russian Federation market average.
  • Acron's revenue growth is expected to exceed the Russian Federation market average.
Annual Growth Rates Comparison
Raw Data
MISX:AKRN Future Growth Rates Data Sources
Data Point Source Value (per year)
MISX:AKRN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 18%
MISX:AKRN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 6.4%
Russian Federation Chemicals Industry Earnings Growth Rate Market Cap Weighted Average 12.6%
Europe Chemicals Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
Russian Federation Market Earnings Growth Rate Market Cap Weighted Average 3.1%
Russian Federation Market Revenue Growth Rate Market Cap Weighted Average 4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
MISX:AKRN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in RUB Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
MISX:AKRN Future Estimates Data
Date (Data in RUB Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 138,370 24,744 1
2021-12-31 133,214 23,000 1
2020-12-31 122,716 37,292 19,238 4
2019-12-31 113,624 35,947 15,742 5
2018-12-31 111,908 29,445 13,441 2
MISX:AKRN Past Financials Data
Date (Data in RUB Millions) Revenue Cash Flow Net Income *
2018-09-30 102,832 21,071 10,825
2018-06-30 96,866 19,454 14,951
2018-03-31 94,319 20,055 16,715
2017-12-31 94,342 16,634 13,432
2017-09-30 91,863 20,922 13,644
2017-06-30 89,383 20,960 7,434
2017-03-31 88,417 15,455 14,980
2016-12-31 89,359 18,102 27,778
2016-09-30 90,089 23,973 25,941
2016-06-30 94,012 29,293 25,556
2016-03-31 89,381 30,576 23,412
2015-12-31 92,019 36,531 15,908

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Acron's earnings are expected to grow by 18% yearly, however this is not considered high growth (20% yearly).
  • Acron's revenue is expected to grow by 6.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
MISX:AKRN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Acron Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MISX:AKRN Future Estimates Data
Date (Data in RUB Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31
2019-12-31
2018-12-31
MISX:AKRN Past Financials Data
Date (Data in RUB Millions) EPS *
2018-09-30 275.09
2018-06-30 379.73
2018-03-31 423.60
2017-12-31 339.43
2017-09-30 343.63
2017-06-30 186.68
2017-03-31 376.01
2016-12-31 696.93
2016-09-30 648.25
2016-06-30 640.62
2016-03-31 585.34
2015-12-31 396.24

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Acron is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Acron's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Russian Federation market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Acron has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Acron performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Acron's growth in the last year to its industry (Chemicals).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Acron's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Acron's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Acron's 1-year earnings growth is negative, it can't be compared to the RU Chemicals industry average.
Earnings and Revenue History
Acron's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Acron Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MISX:AKRN Past Revenue, Cash Flow and Net Income Data
Date (Data in RUB Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 102,832.00 10,825.00 23,087.00
2018-06-30 96,866.00 14,951.00 21,596.00
2018-03-31 94,319.00 16,715.00 20,365.00
2017-12-31 94,342.00 13,432.00 20,438.00
2017-09-30 91,863.00 13,644.00 19,466.00
2017-06-30 89,383.00 7,434.00 20,034.00
2017-03-31 88,417.00 14,980.00 19,482.00
2016-12-31 89,359.00 27,778.00 19,263.00
2016-09-30 90,089.00 25,941.00 19,050.00
2016-06-30 94,012.00 25,556.00 17,690.00
2016-03-31 89,381.00 23,412.00 16,864.00
2015-12-31 92,019.00 15,908.00 16,479.00
2015-09-30 90,670.00 9,472.00 16,835.00
2015-06-30 83,757.00 10,604.00 16,434.00
2015-03-31 84,933.00 10,326.00 16,295.00
2014-12-31 74,631.00 4,381.00 14,806.00
2014-09-30 68,883.00 13,555.00 13,042.00
2014-06-30 69,399.00 13,729.00 12,932.00
2014-03-31 68,694.00 10,967.00 12,467.00
2013-12-31 67,904.00 12,225.00 12,396.00
2013-09-30 69,340.00 10,281.00 11,977.00
2013-06-30 70,091.00 12,646.00 12,388.00
2013-03-31 69,251.00 11,444.00 12,011.00
2012-12-31 71,112.00 14,195.00 11,758.00
2012-09-30 72,680.00 20,877.00 13,023.00
2012-06-30 70,825.00 19,176.00 11,539.00
2012-03-31 69,987.00 19,757.00 11,251.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Acron has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Acron used its assets less efficiently than the RU Chemicals industry average last year based on Return on Assets.
  • Acron's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Acron's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Chemicals industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Acron has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Acron's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Acron's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Acron is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Acron's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Acron's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Acron Company Filings, last reported 5 months ago.

MISX:AKRN Past Debt and Equity Data
Date (Data in RUB Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 73,635.00 87,465.00 13,352.00
2018-06-30 72,828.00 90,971.00 19,833.00
2018-03-31 86,328.00 73,798.00 11,045.00
2017-12-31 90,956.00 74,544.00 14,302.00
2017-09-30 90,300.00 71,082.00 19,001.00
2017-06-30 87,110.00 68,330.00 14,269.00
2017-03-31 89,929.00 65,697.00 14,302.00
2016-12-31 87,722.00 79,151.00 27,168.00
2016-09-30 87,288.00 80,605.00 21,514.00
2016-06-30 94,392.00 84,754.00 23,367.00
2016-03-31 117,063.00 82,849.00 38,016.00
2015-12-31 109,798.00 83,744.00 35,229.00
2015-09-30 105,458.00 95,318.00 43,354.00
2015-06-30 96,954.00 84,198.00 36,515.00
2015-03-31 99,057.00 90,204.00 42,321.00
2014-12-31 93,773.00 81,311.00 28,502.00
2014-09-30 87,977.00 63,497.00 22,362.00
2014-06-30 86,255.00 58,583.00 24,645.00
2014-03-31 88,249.00 54,137.00 27,447.00
2013-12-31 79,477.00 50,796.00 21,983.00
2013-09-30 82,551.00 57,405.00 33,689.00
2013-06-30 82,814.00 60,764.00 43,656.00
2013-03-31 80,035.00 63,168.00 46,249.00
2012-12-31 79,120.00 62,477.00 48,170.00
2012-09-30 66,375.00 62,541.00 18,445.00
2012-06-30 60,545.00 76,136.00 38,038.00
2012-03-31 57,136.00 53,015.00 20,530.00
  • Acron's level of debt (118.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (69.5% vs 118.8% today).
  • Debt is well covered by operating cash flow (24.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 20.8x coverage).
X
Financial health checks
We assess Acron's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Acron has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
11.32%
Current annual income from Acron dividends. Estimated to be 6.86% next year.
If you bought RUB2,000 of Acron shares you are expected to receive RUB226 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Acron's pays a higher dividend yield than the bottom 25% of dividend payers in Russian Federation (3.01%).
  • Acron's dividend is above the markets top 25% of dividend payers in Russian Federation (8.79%).
Upcoming dividend payment

Purchase Acron on or before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
MISX:AKRN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
Russian Federation Chemicals Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 5.9%
Russian Federation Market Average Dividend Yield Market Cap Weighted Average of 72 Stocks 6.2%
Russian Federation Minimum Threshold Dividend Yield 10th Percentile 1.5%
Russian Federation Bottom 25% Dividend Yield 25th Percentile 3%
Russian Federation Top 25% Dividend Yield 75th Percentile 8.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

MISX:AKRN Future Dividends Estimate Data
Date (Data in RUB) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 327.70 1.00
2021-12-31 321.99 1.00
2020-12-31 323.96 3.00
2019-12-31 318.44 3.00
2018-12-31 337.86 1.00
MISX:AKRN Past Annualized Dividends Data
Date (Data in RUB) Dividend per share (annual) Avg. Yield (%)
2018-05-08 532.000 11.714
2018-01-16 442.000 10.508
2017-05-30 250.000 7.170
2017-04-14 310.000 9.556
2017-01-09 310.000 9.156
2016-08-18 310.000 9.084
2016-05-04 180.000 5.109
2016-04-25 180.000 4.981
2015-06-02 139.000 4.565
2015-04-20 139.000 6.149
2014-04-16 152.000 10.357
2013-04-16 110.000 10.060
2013-01-14 92.000 6.564
2012-06-27 175.000 13.069
2012-04-18 175.000 15.000
2012-02-29 175.000 13.511
2011-11-22 258.000 18.757
2011-05-26 40.000 3.125
2010-04-28 25.000 2.524
2010-01-22 80.000 7.636

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Acron has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Acron only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Acron's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Acron's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Acron afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Acron has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Vladimir Kunitsky
AGE 70
TENURE AS CEO 8.2 years
CEO Bio

Mr. Vladimir Ya. Kunitsky has been the Chairman of the Managing Board and Chief Executive Officer of Public Joint Stock Company Acron since 2011 and has been its Member of the Managing Board since 2005. Mr. Kunitsky serves as the President at Public Joint Stock Company Acron. He served as Director General at Public Joint Stock Company Acron since July 28, 2011. He served as Director General since July 28, 2011. Mr. Kunitsky served as a Senior Vice President of Joint Stock Company Acron since 2006. He serves as the President and Member of the Management Board of Joint Stock Company Dorogobuz. He serves as the Deputy Chairman and Member of the Managing Board of Joint Stock Company Acron. He has been associated with Joint Stock Company Acron for over 25 years. He served as Chief Executive Officer of CJSC North-Western Phosphorous Company until June 18, 2013. From 1983 to 2006, he served as a Member of the Board of Administration, Vice President of sale and Vice President of Purchases for Joint Stock Company Acron. Mr. Kunitsky began his career in the chemical industry at the KrasnoUralsk Copper Smelting Plant, where he served from 1971 to 1983. He served as Deputy Chairman of Joint Stock Company Acron. He served as a Director of Joint Stock Company Acron. He was named Honoured Chemist of the Russian Federation and received the Merit in Labour Medal. In 1971, Mr. Kunitsky graduated from the Gorky Urals State University with a Degree in Chemistry.

CEO Compensation
  • Insufficient data for Vladimir to compare compensation growth.
  • Insufficient data for Vladimir to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

Average tenure and age of the Acron management team in years:

6.7
Average Tenure
49
Average Age
  • The average tenure for the Acron management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Alexander Popov

TITLE
Chairman & Senior VP
AGE
49
TENURE
12.2 yrs

Vladimir Kunitsky

TITLE
Chairman of the Management Board & CEO
AGE
70
TENURE
8.2 yrs

Vladimir Gavrikov

TITLE
Deputy Chairman of the Board & Executive Director
AGE
58

Dmitry Balandin

TITLE
VP of Finance & Member of the Managing Board
AGE
38
TENURE
0.3 yrs

Alexei Milenkov

TITLE
Finance Director & Member of the Managing Board
AGE
45
TENURE
8.9 yrs

Dmitry Khabrat

TITLE
VP of Overseas & Member of the Managing Board
AGE
48
TENURE
6.7 yrs

Irina Raber

TITLE
VP of Human Resources & Special Projects and Member of the Managing Board
AGE
69
TENURE
4.5 yrs

Alexander Lebedev

TITLE
VP of Domestic Business & Member of the Managing Board
TENURE
0.3 yrs

Ilya Popov

TITLE
Head of Investor Relations

Irina Klassen

TITLE
Head of the Protocol Unit
Board of Directors Tenure

Average tenure and age of the Acron board of directors in years:

3.7
Average Tenure
58
Average Age
  • The tenure for the Acron board of directors is about average.
Board of Directors

Alexander Popov

TITLE
Chairman & Senior VP
AGE
49
TENURE
3.7 yrs

Vladimir Gavrikov

TITLE
Deputy Chairman of the Board & Executive Director
AGE
58
TENURE
3.7 yrs

Alexander Dynkin

TITLE
CEO Advisor & Director
AGE
70
TENURE
11.2 yrs

Georgy Golukhov

TITLE
CEO Advisor & Director
AGE
58
TENURE
2.8 yrs

Nikolai Arutyunov

TITLE
Senior Independent Director
AGE
54
TENURE
2.8 yrs

Yuriy Malyshev

TITLE
Independent Director
AGE
79
TENURE
3.8 yrs

Vladimir Sister

TITLE
Independent Director
AGE
73
TENURE
3.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (RUB) Value (RUB)
X
Management checks
We assess Acron's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Acron has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

What Should You Know About Public Joint Stock Company Acron's (MCX:AKRN) Return On Capital?

and want a simplistic look at the return on Public Joint Stock Company Acron (MCX:AKRN) stock. … Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided.

Simply Wall St -

Is Public Joint Stock Company Acron's (MCX:AKRN) 22% ROE Strong Compared To Its Industry?

By way of learning-by-doing, we'll look at ROE to gain a better understanding Public Joint Stock Company Acron (MCX:AKRN). … One way to conceptualize this, is that for each RUB1 of shareholders' equity it has, the company made RUB0.22 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Has Public Joint Stock Company Acron's (MCX:AKRN) Earnings Momentum Changed Recently?

Examining Public Joint Stock Company Acron's (MCX:AKRN) past track record of performance is a useful exercise for investors. … Below, I will assess AKRN's latest performance announced on 31 March 2018 and weight these figures against its longer term trend and industry movements. … How AKRN fared against its long-term earnings performance and its industry

Simply Wall St -

Public Joint Stock Company Acron (MCX:AKRN)'s Return on Capital

Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … Therefore, looking at how efficiently Acron is able to use capital to create earnings will help us understand your potential return.

Simply Wall St -

Did Public Joint Stock Company Acron (MCX:AKRN) Create Value For Shareholders?

and want to begin learning the link between company’s fundamentals and stock market performance. … With an ROE of 19.50%, Public Joint Stock Company Acron (MCX:AKRN) returned in-line to its own industry which delivered 19.46% over the past year. … Sustainability can be gauged by a company’s financial leverage – the more debt it has, the higher ROE is pumped up in the short term, at the expense of long term interest payment burden.

Simply Wall St -

Should You Sell Public Joint Stock Company Acron (MCX:AKRN) At This PE Ratio?

Yes, this sober multiple may convince you to look elsewhere, but there are many company-specific elements which are not captured in such a static ratio – such as its growth outlook and debt obligations … This article will cover some key aspects we should consider in order to determine the best multiple to be used for

Simply Wall St -

Is Public Joint Stock Company Acron (MISX:AKRN) Potentially Underrated?

Public Joint Stock Company Acron (MISX:AKRN) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … In the case of AKRN, it

Simply Wall St -

Future Outlook Of The Basic Materials Industry And Public Joint Stock Company Acron (MCX:AKRN)

Acron lags the pack with its negative growth rate of -51.30% over the past year, which indicates the company will be growing at a slower pace than its chemicals peers. … In terms of returns, Acron generated 15.68% in the past year, which is 9.57% below the chemicals sector. … Next Steps: Acron has been a chemicals industry laggard in the past year.

Simply Wall St -

Public Joint Stock Company Acron (MCX:AKRN): Immense Growth Potential?

Below is my commentary, albeit very simple and high-level, on how market analysts perceive Acron's earnings growth trajectory over the next couple of years and whether the future looks brighter. … See our latest analysis for Acron Market analysts' prospects for the coming year seems rather muted, with earnings climbing by a single digit 0.41%. … The growth outlook in the following year seems much more optimistic with rates generating double digit 17.60% compared to today’s earnings, and finally hitting RUРУБ19.29B by 2021.

Simply Wall St -

Is Public Joint Stock Company Acron (MCX:AKRN) A Financially Sound Company?

AKRN has shrunken its total debt levels in the last twelve months, from RUРУБ79.15B to RUРУБ74.54B , which is made up of current and long term debt. … Moreover, AKRN has produced RUРУБ16.63B in operating cash flow during the same period of time, resulting in an operating cash to total debt ratio of 22.31%, meaning that AKRN’s current level of operating cash is high enough to cover debt. … Next Steps: AKRN’s debt and cash flow levels indicate room for improvement.

Simply Wall St -

Company Info

Description

Public Joint Stock Company Acron, together with its subsidiaries, manufactures, distributes, and sells chemical fertilizers and related mineral by-products in Russia, European Union, the Commonwealth of Independent States, the United States, Canada, Latin America, the People’s Republic of China, rest of Asia, and other regions. It offers mineral fertilizers, including ammonia, nitrogen, and complex fertilizers; organic compounds comprising methanol, formalin, and UFRs; and non-organic compounds, such as low and high density ammonium nitrate, calcium carbonate, liquid carbon dioxide, argon, and hydrochloric acid. The company also develops apatite-nepheline; and potassium-magnesium salt deposit at Talitsky area in Russia. In addition, it provides cargo transportation services through approximately 1,700 railcars and tanks, as well as leases rolling stock; and owns port terminals in the Baltic Sea. Further, the company engages in the wholesale of fertilizers and other chemicals produced by independent producers. Public Joint Stock Company Acron sells its products through retailers under the YSF name, as well as directly to end users. The company was formerly known as Joint Stock Company Acron and changed its name to Public Joint Stock Company Acron in June 2016. The company was incorporated in 1992 and is headquartered in Moscow, Russia. Public Joint Stock Company Acron is a subsidiary of Redbrick Investments S.a.r.l.

Details
Name: Public Joint Stock Company Acron
AKRN
Exchange: MISX
Founded: 1992
RUB184,724,053,000
39,302,990
Website: http://www.akron.ru
Address: Public Joint Stock Company Acron
World Trade Centre,
12, Krasnopresnenskaya Naberezhnaya,
Moscow,
123610,
Russia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
MISX AKRN Ordinary Shares Micex - Rts RU RUB 11. Jan 1996
LSE AKRN GDR EACH REPR 0.1 SH 'REGS' London Stock Exchange GB USD 08. Aug 2008
BATS-CHIXE AKRNL GDR EACH REPR 0.1 SH 'REGS' BATS 'Chi-X Europe' GB USD 08. Aug 2008
Number of employees
Current staff
Staff numbers
0
Acron employees.
Industry
Fertilizers and Agricultural Chemicals
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/19 21:18
End of day share price update: 2019/03/19 00:00
Last estimates confirmation: 2019/03/18
Last earnings filing: 2018/11/28
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.