Executive Summary
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.
Rewards
Risk Analysis
Snowflake Analysis
High growth potential second-rate dividend payer.
Similar Companies
Share Price & News
How has Acron's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: AKRN has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
2.2%
AKRN
1.6%
RU Chemicals
2.5%
RU Market
1 Year Return
32.7%
AKRN
20.9%
RU Chemicals
1.3%
RU Market
Return vs Industry: AKRN exceeded the Russian Chemicals industry which returned 20.8% over the past year.
Return vs Market: AKRN exceeded the Russian Market which returned 1.5% over the past year.
Shareholder returns
| AKRN | Industry | Market | |
|---|---|---|---|
| 7 Day | 2.2% | 1.6% | 2.5% |
| 30 Day | 4.4% | 0.2% | 4.0% |
| 90 Day | 23.3% | 8.5% | -3.3% |
| 1 Year | 43.2%32.7% | 26.6%20.9% | 8.1%1.3% |
| 3 Year | 167.5%102.3% | 60.5%37.2% | 61.2%35.2% |
| 5 Year | 295.5%173.1% | 104.4%62.7% | 117.7%69.8% |
Price Volatility Vs. Market
How volatile is Acron's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Has Public Joint Stock Company Acron (MCX:AKRN) Been Employing Capital Shrewdly?1 month ago | Simply Wall St
Public Joint Stock Company Acron (MCX:AKRN) Delivered A Better ROE Than Its Industry1 month ago | Simply Wall St
Interested In Public Joint Stock Company Acron's (MCX:AKRN) Upcoming ₽157 Dividend? You Have 2 Days LeftValuation
Is Acron undervalued compared to its fair value and its price relative to the market?
43.96x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: AKRN (RUB6090) is trading above our estimate of fair value (RUB2669.84)
Significantly Below Fair Value: AKRN is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: AKRN is poor value based on its PE Ratio (44x) compared to the Chemicals industry average (8.4x).
PE vs Market: AKRN is poor value based on its PE Ratio (44x) compared to the Russian market (8.7x).
Price to Earnings Growth Ratio
PEG Ratio: AKRN is poor value based on its PEG Ratio (2.1x)
Price to Book Ratio
PB vs Industry: AKRN is overvalued based on its PB Ratio (5.1x) compared to the RU Chemicals industry average (1.2x).
Next Steps
Future Growth
How is Acron forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
21.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: AKRN's forecast earnings growth (21% per year) is above the savings rate (8.3%).
Earnings vs Market: AKRN's earnings (21% per year) are forecast to grow faster than the Russian market (10.7% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: AKRN's revenue (7.1% per year) is forecast to grow faster than the Russian market (5.7% per year).
High Growth Revenue: AKRN's revenue (7.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: AKRN's Return on Equity is forecast to be high in 3 years time (28.5%)
Next Steps
Past Performance
How has Acron performed over the past 5 years?
3.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: AKRN has high quality earnings.
Growing Profit Margin: AKRN's current net profit margins (4.7%) are lower than last year (14.7%).
Past Earnings Growth Analysis
Earnings Trend: AKRN's earnings have grown by 3.1% per year over the past 5 years.
Accelerating Growth: AKRN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: AKRN had negative earnings growth (-67.9%) over the past year, making it difficult to compare to the Chemicals industry average (-53.2%).
Return on Equity
High ROE: AKRN's Return on Equity (8.8%) is considered low.
Next Steps
Financial Health
How is Acron's financial position?
Financial Position Analysis
Short Term Liabilities: AKRN's short term assets (RUB56.1B) exceed its short term liabilities (RUB31.2B).
Long Term Liabilities: AKRN's short term assets (RUB56.1B) do not cover its long term liabilities (RUB117.8B).
Debt to Equity History and Analysis
Debt Level: AKRN's debt to equity ratio (180.8%) is considered high.
Reducing Debt: AKRN's debt to equity ratio has increased from 90.7% to 180.8% over the past 5 years.
Debt Coverage: AKRN's debt is not well covered by operating cash flow (18%).
Interest Coverage: AKRN's interest payments on its debt are well covered by EBIT (16.9x coverage).
Balance Sheet
Next Steps
Dividend
What is Acron's current dividend yield, its reliability and sustainability?
8.75%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: AKRN's dividend (8.75%) is higher than the bottom 25% of dividend payers in the Russian market (3.65%).
High Dividend: AKRN's dividend (8.75%) is low compared to the top 25% of dividend payers in the Russian market (9.26%).
Stability and Growth of Payments
Stable Dividend: AKRN's dividend payments have been volatile in the past 10 years.
Growing Dividend: AKRN's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (384.8%), AKRN's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: AKRN's dividends in 3 years are forecast to be covered by earnings (58.4% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
7.8yrs
Average management tenure
CEO
Vladimir Kunitsky (71yo)
9.33yrs
Tenure
Mr. Vladimir Yakovlevich Kunitsky has been the Chairman of the Managing Board and Chief Executive Officer of Public PJSC Acron (formerly known as Joint Stock Company Acron) since 2011 and has been its Memb ...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & Senior VP | 4.83yrs | no data | 0.053% RUB120.9m | |
| Chairman of the Management Board & CEO | 9.33yrs | no data | 0.046% RUB106.1m | |
| Deputy Chairman of the Board | 4.83yrs | no data | no data | |
| VP of Finance & Economics and Member of the Managing Board | 1.42yrs | no data | no data | |
| Finance Director & Member of the Managing Board | 10.08yrs | no data | 0.0022% RUB4.9m | |
| Vice President of Foreign Economic Affairs & Member of the Managing Board | 7.83yrs | no data | no data | |
| VP of Human Resources & Special Projects and Member of the Managing Board | 6.33yrs | no data | no data | |
| VP of Domestic Business & Agricultural Projects and Member of the Managing Board | 1.42yrs | no data | no data | |
| Chief Accountant | no data | no data | no data | |
| Head of Investor Relations | no data | no data | no data |
7.8yrs
Average Tenure
49.5yo
Average Age
Experienced Management: AKRN's management team is seasoned and experienced (7.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & Senior VP | 4.83yrs | no data | 0.053% RUB120.9m | |
| Deputy Chairman of the Board | 4.83yrs | no data | no data | |
| CEO Advisor & Director | 12.33yrs | no data | no data | |
| CEO Advisor & Director | 4yrs | no data | no data | |
| Senior Independent Director | 4yrs | no data | no data | |
| Independent Director | 5yrs | no data | no data | |
| Independent Director | 5yrs | no data | no data |
4.8yrs
Average Tenure
59yo
Average Age
Experienced Board: AKRN's board of directors are considered experienced (4.8 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
Public Joint Stock Company Acron's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Public Joint Stock Company Acron
- Ticker: AKRN
- Exchange: MISX
- Founded: 1992
- Industry: Fertilizers and Agricultural Chemicals
- Sector: Materials
- Market Cap: ₽229.985b
- Shares outstanding: 37.76m
- Website: https://www.acron.ru
Location
- Public Joint Stock Company Acron
- World Trade Centre
- 12 Krasnopresnenskaya Naberezhnaya
- Moscow
- 123610
- Russia
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| AKRN | MISX (Micex - Rts) | Yes | Ordinary Shares | RU | RUB | Jan 1996 |
| AKRN | LSE (London Stock Exchange) | GDR 10 GDRS REP 1 ORD 'REG S' | GB | USD | Aug 2008 | |
| AKRNL | BATS-CHIXE (BATS 'Chi-X Europe') | GDR 10 GDRS REP 1 ORD 'REG S' | GB | USD | Aug 2008 |
Biography
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 complex and nitrogen fertilizers; organic compounds comprising methanol, formalin, urea-formaldehyde resins, melamine-urea-formaldehyde resins, and dipping resins; and non-organic compounds, such as low and high density ammonium nitrate, conversion calcium carbonate, liquid carbon dioxide, and urea for diesel exhaust fluid production. The company also provides rare earth elements (REE) from apatite concentrate process flows consisting of cerium, lanthanum, neodymium, and didymium, as well as concentrates of light, medium, and heavy REE; and apatite concentrate and ammonia. 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.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/05/28 22:35 |
| End of Day Share Price | 2020/05/28 00:00 |
| Earnings | 2020/03/31 |
| 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.