Acron
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
1 Year Returns
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.
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Acron.
| 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.
| 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.
| 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 | ||
| 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 |
| 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 |
| 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.
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?
| 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.
| 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?
| 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 .
| 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?
| 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 |
| 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.
Value checks
We assess Acron's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Chemicals industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Chemicals industry average (and greater than 0)? (1 check) 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!
Earnings growth vs Low Risk Savings
- 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
| 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
| 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 |
| 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 |
| 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.
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.
| 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 |
| 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.
Future performance checks
We assess Acron's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Russian Federation market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
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
Past Earnings growth analysis
- 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
All data from Acron Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| 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).
Past performance checks
We assess Acron's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Chemicals industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
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.
- 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
Assets
Liabilities and shares
- 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.
All data from Acron Company Filings, last reported 5 months ago.
| 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).
Financial health checks
We assess Acron's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Acron has a total score of 3/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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
If you bought
RUB2,000 of
Acron
shares you are expected to receive
RUB226
in your first year as a dividend.
Dividend Amount
- 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.
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.
| 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.
| 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 |
| 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).
- Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
Income/ dividend checks
We assess Acron's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.5%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) 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
CEO
| 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:
- 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
Chairman & Senior VP
49
12.2 yrs
Vladimir Kunitsky
Chairman of the Management Board & CEO
70
8.2 yrs
Vladimir Gavrikov
Deputy Chairman of the Board & Executive Director
58
Dmitry Balandin
VP of Finance & Member of the Managing Board
38
0.3 yrs
Alexei Milenkov
Finance Director & Member of the Managing Board
45
8.9 yrs
Dmitry Khabrat
VP of Overseas & Member of the Managing Board
48
6.7 yrs
Irina Raber
VP of Human Resources & Special Projects and Member of the Managing Board
69
4.5 yrs
Alexander Lebedev
VP of Domestic Business & Member of the Managing Board
0.3 yrs
Ilya Popov
Head of Investor Relations
Irina Klassen
Head of the Protocol Unit
Board of Directors Tenure
Average tenure and age of the Acron board of directors in years:
- The tenure for the Acron board of directors is about average.
Board of Directors
Alexander Popov
Chairman & Senior VP
49
3.7 yrs
Vladimir Gavrikov
Deputy Chairman of the Board & Executive Director
58
3.7 yrs
Alexander Dynkin
CEO Advisor & Director
70
11.2 yrs
Georgy Golukhov
CEO Advisor & Director
58
2.8 yrs
Nikolai Arutyunov
Senior Independent Director
54
2.8 yrs
Yuriy Malyshev
Independent Director
79
3.8 yrs
Vladimir Sister
Independent Director
73
3.8 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (RUB) | Value (RUB) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Acron's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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 - – Full articleIs 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 - – Full articleHas 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 - – Full articlePublic 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 - – Full articleDid 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 - – Full articleShould 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 - – Full articleIs 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 - – Full articleFuture 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 - – Full articlePublic 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 - – Full articleIs 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 - – Full articleCompany 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
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.
