AAK AB (publ.)
AAK AB (publ.) develops and sells vegetable oils and fats in Sweden and internationally. The last earnings update was 6 days ago. More info.
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- AAK AB (publ.) has significant price volatility in the past 3 months.
AAK Share Price and Events
7 Day Returns
1 Year Returns
AAK Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| AAK AB (publ.) (AAK) | 4.7% | 9.6% | 30.6% | 38.8% | 82.5% | 193% |
| SE Food | 4.1% | 7% | 30.1% | 29.7% | 52.4% | 110.8% |
| SE Market | -1.1% | -0.4% | -0.3% | 4.3% | 14% | 19.7% |
1 Year Return vs Industry and Market
- AAK outperformed the Food industry which returned 29.7% over the past year.
- AAK outperformed the Market in Sweden which returned 4.3% over the past year.
Value
Is AAK AB (publ.) 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
AAK AB (publ.)
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 AAK AB (publ.).
| 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 | 5.2% |
| Perpetual Growth Rate | 10-Year SE Government Bond Rate | 0.4% |
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 SE Govt Bond Rate | 0.4% |
| Equity Risk Premium | S&P Global | 6% |
| Food Unlevered Beta | Simply Wall St/ S&P Global | 0.56 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.565 (1 + (1- 22%) (8.83%)) |
0.734 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.8 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.43% + (0.8 * 5.96%) |
5.2% |
Discounted Cash Flow Calculation for OM:AAK using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for AAK AB (publ.) 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 (SEK, Millions) | Source |
Present Value Discounted (@ 5.2%) |
|
|---|---|---|---|
| 2020 | 1,164.40 | Analyst x5 | 1,106.82 |
| 2021 | 1,489.60 | Analyst x5 | 1,345.92 |
| 2022 | 1,685.01 | Est @ 13.12% | 1,447.20 |
| 2023 | 1,841.94 | Est @ 9.31% | 1,503.75 |
| 2024 | 1,964.42 | Est @ 6.65% | 1,524.43 |
| 2025 | 2,058.41 | Est @ 4.78% | 1,518.38 |
| 2026 | 2,130.04 | Est @ 3.48% | 1,493.52 |
| 2027 | 2,184.70 | Est @ 2.57% | 1,456.10 |
| 2028 | 2,226.79 | Est @ 1.93% | 1,410.76 |
| 2029 | 2,259.72 | Est @ 1.48% | 1,360.83 |
| Present value of next 10 years cash flows | SEK14,167.70 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2029
× (1 + g) ÷ (Discount Rate – g)
= SEK2,259.72 × (1 + 0.43%) ÷ (5.2% – 0.43%) |
SEK47,599.35 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= SEK47,599.35 ÷ (1 + 5.2%)10 |
SEK28,664.78 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= SEK14,167.70 + SEK28,664.78 |
SEK42,832.48 |
| Equity Value per Share (SEK) |
= Total value / Shares Outstanding
= SEK42,832.48 / 253.73 |
SEK168.81 |
| Calculation | Result | |
|---|---|---|
| Value per share (SEK) | From above. | SEK168.81 |
| Current discount | Discount to share price of
SEK193.40
= -1 x (SEK193.40 - SEK168.81) / SEK168.81 |
-14.6% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of AAK AB (publ.) 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 AAK AB (publ.)'s earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
AAK AB (publ.)'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 (2019-06-30) in SEK | SEK5.55 |
| OM:AAK Share Price ** | OM (2019-07-22) in SEK | SEK193.4 |
| Europe Food Industry PE Ratio | Median Figure of 118 Publicly-Listed Food Companies | 17.28x |
| Sweden Market PE Ratio | Median Figure of 324 Publicly-Listed Companies | 16.16x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of AAK AB (publ.).
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = OM:AAK Share Price ÷ EPS (both in SEK) = 193.4 ÷ 5.55 |
34.83x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- AAK AB (publ.) is overvalued based on earnings compared to the Europe Food industry average.
- AAK AB (publ.) is overvalued based on earnings compared to the Sweden market.
Price based on expected Growth
Does
AAK AB (publ.)'s expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 34.83x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts |
10.8%per year |
| Europe Food Industry PEG Ratio | Median Figure of 67 Publicly-Listed Food Companies | 1.68x |
| Sweden Market PEG Ratio | Median Figure of 234 Publicly-Listed Companies | 1.23x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 34.83x ÷ 10.8% |
3.23x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- AAK AB (publ.) is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
AAK AB (publ.)'s
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-06-30) in SEK | SEK37.57 |
| OM:AAK Share Price * | OM (2019-07-22) in SEK | SEK193.4 |
| Sweden Food Industry PB Ratio | Median Figure of 7 Publicly-Listed Food Companies | 2.47x |
| Sweden Market PB Ratio | Median Figure of 575 Publicly-Listed Companies | 2.57x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = OM:AAK Share Price ÷ Book Value per Share (both in SEK) = 193.4 ÷ 37.57 |
5.15x |
* Primary Listing of AAK AB (publ.).
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- AAK AB (publ.) is overvalued based on assets compared to the SE Food industry average.
Value checks
We assess AAK AB (publ.)'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 Food 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 Food industry average (and greater than 0)? (1 check) AAK AB (publ.) has a total score of 0/6, 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
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
- AAK AB (publ.)'s earnings growth is expected to exceed the low risk savings rate of 0.4%.
Growth vs Market Checks
- AAK AB (publ.)'s earnings growth is expected to exceed the Sweden market average.
- AAK AB (publ.)'s revenue growth is expected to exceed the Sweden market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| OM:AAK Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts | 10.8% |
| OM:AAK Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts | 5.8% |
| Sweden Food Industry Earnings Growth Rate | Market Cap Weighted Average | 10.6% |
| Europe Food Industry Revenue Growth Rate | Market Cap Weighted Average | 3.9% |
| Sweden Market Earnings Growth Rate | Market Cap Weighted Average | 8.1% |
| Sweden Market Revenue Growth Rate | Market Cap Weighted Average | 4.7% |
*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 (3 weeks ago) | See Below |
| Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
| Date (Data in SEK Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 32,048 | 2,172 | 1,848 | 5 |
| 2020-12-31 | 30,231 | 2,010 | 1,674 | 5 |
| 2019-12-31 | 28,484 | 1,977 | 1,502 | 5 |
| Date (Data in SEK Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-06-30 | 28,003 | 1,892 | 1,409 |
| 2019-03-31 | 27,986 | 1,880 | 1,351 |
| 2018-12-31 | 27,592 | 1,090 | 1,322 |
| 2018-09-30 | 27,194 | 1,368 | 1,322 |
| 2018-06-30 | 26,713 | 1,336 | 1,273 |
| 2018-03-31 | 26,396 | 1,111 | 1,234 |
| 2017-12-31 | 26,436 | 1,099 | 1,194 |
| 2017-09-30 | 26,168 | 1,099 | 1,126 |
| 2017-06-30 | 25,293 | 472 | 1,074 |
| 2017-03-31 | 23,771 | 821 | 1,042 |
| 2016-12-31 | 22,057 | 1,213 | 1,003 |
| 2016-09-30 | 20,997 | 1,030 | 958 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 weeks ago) | See Below |
| Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
All data from AAK AB (publ.) Company Filings, last reported 3 weeks ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in SEK Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 7.28 | 7.79 | 6.98 | 5.00 |
| 2020-12-31 | 6.60 | 6.90 | 6.35 | 5.00 |
| 2019-12-31 | 5.92 | 6.05 | 5.73 | 5.00 |
| Date (Data in SEK Millions) | EPS * |
|---|---|
| 2019-06-30 | 5.55 |
| 2019-03-31 | 5.32 |
| 2018-12-31 | 5.21 |
| 2018-09-30 | 5.21 |
| 2018-06-30 | 5.02 |
| 2018-03-31 | 4.86 |
| 2017-12-31 | 4.71 |
| 2017-09-30 | 4.44 |
| 2017-06-30 | 4.24 |
| 2017-03-31 | 4.11 |
| 2016-12-31 | 3.95 |
| 2016-09-30 | 3.78 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess AAK AB (publ.)'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 Sweden 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)
AAK AB (publ.) has a total score of 3/6, 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 AAK AB (publ.) 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
- AAK AB (publ.)'s year on year earnings growth rate has been positive over the past 5 years.
- AAK AB (publ.)'s 1-year earnings growth is less than its 5-year average (10.7% vs 10.9%)
- AAK AB (publ.)'s earnings growth has exceeded the Europe Food industry average in the past year (10.7% vs 3.3%).
Earnings and Revenue History
All data from AAK AB (publ.) Company Filings, last reported 3 weeks ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in SEK Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-06-30 | 28,003.00 | 1,409.00 | 4,828.00 | |
| 2019-03-31 | 27,986.00 | 1,351.00 | 4,703.00 | |
| 2018-12-31 | 27,592.00 | 1,322.00 | 4,535.00 | |
| 2018-09-30 | 27,194.00 | 1,322.00 | 4,374.00 | |
| 2018-06-30 | 26,713.00 | 1,273.00 | 4,250.00 | |
| 2018-03-31 | 26,396.00 | 1,234.00 | 4,142.00 | |
| 2017-12-31 | 26,436.00 | 1,194.00 | 4,070.00 | |
| 2017-09-30 | 26,168.00 | 1,126.00 | 4,082.00 | |
| 2017-06-30 | 25,293.00 | 1,074.00 | 3,954.00 | |
| 2017-03-31 | 23,771.00 | 1,042.00 | 3,817.00 | |
| 2016-12-31 | 22,057.00 | 1,003.00 | 3,699.00 | |
| 2016-09-30 | 20,997.00 | 958.00 | 3,588.00 | |
| 2016-06-30 | 20,377.00 | 959.00 | 3,550.00 | |
| 2016-03-31 | 20,241.00 | 954.00 | 3,483.00 | |
| 2015-12-31 | 20,114.00 | 933.00 | 3,423.00 | |
| 2015-09-30 | 19,704.00 | 992.00 | 3,305.00 | |
| 2015-06-30 | 19,361.00 | 961.00 | 3,197.00 | |
| 2015-03-31 | 18,521.00 | 906.00 | 3,061.00 | |
| 2014-12-31 | 17,814.00 | 879.00 | 2,927.00 | |
| 2014-09-30 | 17,244.00 | 808.00 | 2,775.00 | |
| 2014-06-30 | 16,735.00 | 783.00 | 2,640.00 | |
| 2014-03-31 | 16,655.00 | 764.00 | 2,548.00 | |
| 2013-12-31 | 16,537.00 | 732.00 | 2,454.00 | |
| 2013-09-30 | 16,456.00 | 711.00 | 2,389.00 | |
| 2013-06-30 | 16,527.00 | 680.00 | 2,354.00 | |
| 2013-03-31 | 16,700.00 | 655.00 | 2,321.00 | |
| 2012-12-31 | 16,911.00 | 640.00 | 2,292.00 | |
| 2012-09-30 | 17,189.00 | 632.00 | 2,255.00 |
*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.
- AAK AB (publ.) has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- AAK AB (publ.) used its assets more efficiently than the Europe Food industry average last year based on Return on Assets.
- AAK AB (publ.)'s use of capital has not improved over the past 3 years (Return on Capital Employed).
Past performance checks
We assess AAK AB (publ.)'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 Food 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)
AAK AB (publ.) has a total score of 3/6, 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 AAK AB (publ.)'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 AAK AB (publ.)'s finances.
The net worth of a company is the difference between its assets and liabilities.
- AAK AB (publ.) is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- AAK AB (publ.)'s cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 3.1x 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 AAK AB (publ.) Company Filings, last reported 3 weeks ago.
| Date (Data in SEK Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-06-30 | 9,616.00 | 3,578.00 | 744.00 |
| 2019-03-31 | 9,765.00 | 3,297.00 | 814.00 |
| 2018-12-31 | 8,996.00 | 3,219.00 | 737.00 |
| 2018-09-30 | 8,821.00 | 3,455.00 | 723.00 |
| 2018-06-30 | 8,633.00 | 4,221.00 | 872.00 |
| 2018-03-31 | 8,461.00 | 3,761.00 | 669.00 |
| 2017-12-31 | 7,734.00 | 2,987.00 | 480.00 |
| 2017-09-30 | 7,406.00 | 3,661.00 | 545.00 |
| 2017-06-30 | 7,333.00 | 4,062.00 | 639.00 |
| 2017-03-31 | 7,830.00 | 3,633.00 | 581.00 |
| 2016-12-31 | 7,576.00 | 3,075.00 | 586.00 |
| 2016-09-30 | 7,087.00 | 3,459.00 | 403.00 |
| 2016-06-30 | 6,765.00 | 2,680.00 | 485.00 |
| 2016-03-31 | 6,663.00 | 2,565.00 | 414.00 |
| 2015-12-31 | 6,650.00 | 2,461.00 | 462.00 |
| 2015-09-30 | 6,422.00 | 2,783.00 | 391.00 |
| 2015-06-30 | 6,220.00 | 2,897.00 | 377.00 |
| 2015-03-31 | 6,397.00 | 2,915.00 | 342.00 |
| 2014-12-31 | 5,800.00 | 2,678.00 | 266.00 |
| 2014-09-30 | 5,268.00 | 3,701.00 | 429.00 |
| 2014-06-30 | 4,811.00 | 3,149.00 | 277.00 |
| 2014-03-31 | 4,659.00 | 2,838.00 | 222.00 |
| 2013-12-31 | 4,364.00 | 2,420.00 | 231.00 |
| 2013-09-30 | 4,051.00 | 2,930.00 | 244.00 |
| 2013-06-30 | 3,996.00 | 2,917.00 | 254.00 |
| 2013-03-31 | 3,947.00 | 3,077.00 | 282.00 |
| 2012-12-31 | 3,836.00 | 2,910.00 | 330.00 |
| 2012-09-30 | 3,717.00 | 3,449.00 | 294.00 |
- AAK AB (publ.)'s level of debt (37.2%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (65.5% vs 37.2% today).
- Debt is well covered by operating cash flow (52.9%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 15.7x coverage).
Financial health checks
We assess AAK AB (publ.)'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) AAK AB (publ.) has a total score of 6/6, 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 AAK AB (publ.)'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
SEK2,000 of
AAK AB (publ.)
shares you are expected to receive
SEK19
in your first year as a dividend.
Dividend Amount
- AAK AB (publ.)'s pays a lower dividend yield than the bottom 25% of dividend payers in Sweden (1.91%).
- AAK AB (publ.)'s dividend is below the markets top 25% of dividend payers in Sweden (4.36%).
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 |
| Europe Food Industry Average Dividend Yield | Market Cap Weighted Average of 94 Stocks | 2.4% |
| Sweden Market Average Dividend Yield | Market Cap Weighted Average of 244 Stocks | 3.5% |
| Sweden Minimum Threshold Dividend Yield | 10th Percentile | 1.2% |
| Sweden Bottom 25% Dividend Yield | 25th Percentile | 1.9% |
| Sweden Top 25% Dividend Yield | 75th Percentile | 4.4% |
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 SEK) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | 2.53 | 5.00 |
| 2020-12-31 | 2.27 | 5.00 |
| 2019-12-31 | 2.04 | 5.00 |
| Date (Data in SEK) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-08 | 1.850 | 1.206 |
| 2018-04-24 | 1.625 | 1.187 |
| 2017-04-10 | 1.458 | 1.323 |
| 2016-02-03 | 1.292 | 1.288 |
| 2015-03-27 | 1.125 | 1.209 |
| 2014-02-05 | 1.000 | 1.430 |
| 2013-05-03 | 0.875 | 1.406 |
| 2012-02-09 | 0.792 | 1.900 |
| 2011-05-17 | 0.750 | 2.526 |
| 2010-04-16 | 0.708 | 2.547 |
| 2009-05-19 | 0.667 | 2.927 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- AAK AB (publ.) is not paying a notable dividend for Sweden, therefore no need to check if the payments are stable.
- AAK AB (publ.) is not paying a notable dividend for Sweden, therefore no need to check if the payments are increasing.
Income/ dividend checks
We assess AAK AB (publ.)'s dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.2%) - 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 AAK AB (publ.) afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) AAK AB (publ.) has a total score of 1/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | SEK13,599,098 |
| AGE | 46 |
| TENURE AS CEO | 1.2 years |
CEO Bio
Mr. Johan Westman has been the President and Chief Executive Officer of AAK AB (publ.) since May 2, 2018. Mr. Westman served as Managing Director of Blanklight and Senior Vice President of Europe at Shiloh Industries Inc. until March 2018 and served as its Vice President of Europe since July 2014. He served as the Chief Executive Officer and President at Finnveden Metal Structures AB (FMS), FinnvedenBulten AB (publ) and Finnveden AB from 2008 to June 30, 2014. He has been Director of Absolent Group AB (publ) since 2017. Mr. Westman joined FinnvedenBulten in 2006 as Vice President of Business Development after eight years of management consulting with Arthur D. Little. He holds a Master of Science in Industrial Engineering and Management from the Chalmers University of Technology and has studied Finance at the University of Gothenburg.
CEO Compensation
- Insufficient data for Johan to compare compensation growth.
- Johan's remuneration is about average for companies of similar size in Sweden.
Management Team Tenure
Average tenure and age of the AAK AB (publ.) management team in years:
- The tenure for the AAK AB (publ.) management team is about average.
Management Team
Johan Westman
President & CEO
SEK14M
46
1.2 yrs
Fredrik Nilsson
CFO, Head of Corporate Communications
SEK2M
42
5.5 yrs
David Smith
President Global Operations & VP
59
Karsten Nielsen
CTO & VP
56
8.5 yrs
Anne Olesen
Chief Marketing Officer & VP of Corporate Social Responsibility
55
Renald Mackintosh
Chairman Special Nutrition & Personal Care and VP
68
3.9 yrs
Torben Lange
President of Asia
56
Mikael Ekdahl
Secretary of the Board
SEK900K
68
1.2 yrs
Octavio de León
VP & President of North Latin America
52
Gerardo Garza de Hereida
VP & President AAK South Latin America
58
4.8 yrs
Board of Directors Tenure
Average tenure and age of the AAK AB (publ.) board of directors in years:
- The average tenure for the AAK AB (publ.) board of directors is less than 3 years, this suggests a new board.
Board of Directors
Georg Brunstam
Chairman of the Board
SEK950K
62
1.2 yrs
Märta Andreen
Director
SEK550K
35
6.2 yrs
Gun Nilsson
Director
SEK625K
64
2.2 yrs
Lillie Valeur
Director
SEK500K
49
6.2 yrs
Marianne Kirkegaard
Director
SEK375K
51
4.2 yrs
Bengt Baron
Director
SEK375K
57
2.2 yrs
Patrik Andersson
Director
56
0.2 yrs
Annica Edvardsson
Deputy Director
2.2 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (SEK) | Value (SEK) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 12. Mar 19 | Sell | Melker Schorling Tjanste AB | Company | 07. Mar 19 | 12. Mar 19 | -1,805,282 | SEK134.29 | SEK-240,234,959 | ||
| 27. Aug 18 | Sell | Karsten Nielsen | Individual | 23. Aug 18 | 23. Aug 18 | -41,000 | SEK148.14 | SEK-6,073,867 | ||
| 24. Aug 18 | Sell | Karsten Nielsen | Individual | 23. Aug 18 | 23. Aug 18 | -32,000 | SEK148.32 | SEK-4,740,950 | ||
Management checks
We assess AAK AB (publ.)'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) AAK AB (publ.) 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
Should AAK AB (publ.) (STO:AAK) Be Disappointed With Their 88% Profit?
For example, long term AAK AB (publ.) (STO:AAK) shareholders have enjoyed a 88% share price rise over the last half decade, well in excess of the market return of around 20% (not including dividends). … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … During five years of share price growth, AAK AB (publ.) achieved compound earnings per share (EPS) growth of 12% per year.
Simply Wall St - – Full articleWhat Can We Make Of AAK AB (publ.)’s (STO:AAK) High Return On Capital?
To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Return On Capital Employed (ROCE): What is it? … How Do You Calculate Return On Capital Employed
Simply Wall St - – Full articleDid AAK AB (publ)'s (STO:AAK) Recent Earnings Growth Beat The Trend?
Understanding how AAK AB (publ) (STO:AAK) is performing as a company requires looking at more than just a years' earnings. … Today I will run you through a basic sense check to gain perspective on how AAK AB (publ.) is doing by comparing its latest earnings with its long-term trend as well as the performance of its food industry peers. … See our latest analysis for AAK AB (publ.)?
Simply Wall St - – Full articleAAK AB (publ) (STO:AAK): Assessing Capital Returns
This share represents a portion of capital used by the company to operate the business, and it is important the company is able to use the capital base efficiently to create adequate cash flows for you as an investor. … 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. … Thus, to understand how your money can grow by investing in AAK AB (publ.), you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)
Simply Wall St - – Full articleAAK AB (publ) (STO:AAK): Has Recent Earnings Growth Beaten Long-Term Trend?
After looking at AAK AB (publ)'s (STO:AAK) latest earnings announcement (31 March 2018), I found it useful to revisit the company's performance in the past couple of years and assess this against the most recent figures. … How AAK fared against its long-term earnings performance and its industry … AAK's trailing twelve-month earnings (from 31 March 2018) of kr1.23b has
Simply Wall St - – Full articleDoes AAK AB (publ)'s (STO:AAK) PE Ratio Signal A Selling Opportunity?
AAK's current PE is a sizable 29.25x based on past earnings,. … This is because there are many company-specific factors like future prospects and capital structure, which are unaccounted for … To resolve this problem, I’ll identify some important factors to consider when judging the relative valuation of
Simply Wall St - – Full articleIs AAK AB (publ)'s (STO:AAK) PE Ratio A Signal To Sell For Investors?
The content of this article will benefit those of you who are starting to educate yourself about investing in the stock market. … and want to better understand how you can grow your money by investing in AAK AB (publ) (STO:AAK). … While this makes AAK appear like a stock to avoid or sell if you own it, you might change your mind after I explain the assumptions behind the P/E ratio
Simply Wall St - – Full articleWhy AAK AB (publ) (OM:AAK) Is Truly A Standout Investment
AAK AB (publ) (OM:AAK) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … In the case of AAK, it.
Simply Wall St - – Full articleInterested In AAK AB (publ) (STO:AAK)? Here's What Its Recent Performance Looks Like
View our latest analysis for AAK AB (publ.) Commentary On AAK's Past Performance I like to use data from the most recent 12 months, which either annualizes the most recent 6-month earnings update, or in some cases, the most recent annual report is already the latest available financial data. … Given that these figures are fairly short-term, I have estimated an annualized five-year figure for AAK's earnings, which stands at KR851.89M This means that, on average, AAK AB (publ.) has been able to consistently raise its profits over the past couple of years as well. … Inspecting growth from a sector-level, the SE food industry has been growing its average earnings by double-digit 12.74% in the past twelve months, and 13.87% over the past half a decade.
Simply Wall St - – Full articleWith An ROE Of 14.82%, Has AAK AB (publ)'s (STO:AAK) Management Done Well?
View our latest analysis for AAK AB (publ.) Peeling the layers of ROE – trisecting a company’s profitability Return on Equity (ROE) is a measure of AAK AB (publ.)’s profit relative to its shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity Returns are usually compared to costs to measure the efficiency of capital. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity OM:AAK Last Perf May 27th 18 Basically, profit margin measures how much of revenue trickles down into earnings which illustrates how efficient the business is with its cost management.
Simply Wall St - – Full articleCompany Info
Description
AAK AB (publ.) develops and sells vegetable oils and fats in Sweden and internationally. It offers food ingredients for the bakery, dairy, special nutrition, and foodservice industries; chocolate and confectionery fats, including cocoa butter alternatives under the TROPICAO, ILLEXAO, AKOPOL, CEBES, SILKO, CHOCOFILL, and DELIAIR brands; speciality fats for confectionery filling; and functional emollients for the personal care industry. The company also provides fatty acids and glycerine for various applications, as well as proteins and fats for animal feeds. AAK AB (publ.) is headquartered in Malmö, Sweden.
Details
| Name: | AAK AB (publ.) |
| AAK | |
| Exchange: | OM |
| Founded: | |
| SEK49,071,562,635 | |
| 253,730,934 | |
| Website: | http://www.aak.com |
| Address: |
AAK AB (publ.) Skrivaregatan 9, Malmö, Skåne County, 215 32, Sweden |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| OM | AAK | Ordinary Shares | OMX Nordic Exchange Stockholm | SE | SEK | 29. Sep 2005 | |
| OTCPK | ARHU.F | Ordinary Shares | Pink Sheets LLC | US | USD | 29. Sep 2005 | |
| DB | 6AA0 | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 29. Sep 2005 | |
| LSE | 0A0J | Ordinary Shares | London Stock Exchange | GB | SEK | 29. Sep 2005 | |
| BATS-CHIXE | AAKS | Ordinary Shares | BATS 'Chi-X Europe' | GB | SEK | 29. Sep 2005 |
Number of employees
Current staff
Industry
| Packaged Foods and Meats | |
| Food, Beverage & Tobacco |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/07/22 20:52 |
| End of day share price update: | 2019/07/22 00:00 |
| Last estimates confirmation: | 2019/07/17 |
| Last earnings filing: | 2019/07/16 |
| Last earnings reported: | 2019/06/30 |
| Last annual earnings reported: | 2018/12/31 |
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.
