Boliden
Boliden AB (publ), a metals company, explores for, mines, smelts, and recycles metals. The last earnings update was 44 days ago. More info.
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- Boliden has significant price volatility in the past 3 months.
BOL Share Price and Events
7 Day Returns
1 Year Returns
BOL Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Boliden (BOL) | 1.4% | -3.6% | -9.1% | -26.1% | 47.4% | 133.5% |
| SE Metals and Mining | 2.1% | -3.7% | -7.3% | -27.3% | 49.8% | 0.8% |
| SE Market | 1.7% | 0.4% | 2% | 4% | 20.2% | 19.1% |
1 Year Return vs Industry and Market
- BOL outperformed the Metals and Mining industry which returned -27.3% over the past year.
- BOL underperformed the Market in Sweden which returned 4% over the past year.
BOL Value
Is Boliden 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
Boliden
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 Boliden.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 13 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 6.7% |
| 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% |
| Metals and Mining Unlevered Beta | Simply Wall St/ S&P Global | 1.03 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.025 (1 + (1- 22%) (5.82%)) |
1.048 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.05 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.43% + (1.048 * 5.96%) |
6.68% |
Discounted Cash Flow Calculation for OM:BOL using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Boliden 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 (@ 6.68%) |
|
|---|---|---|---|
| 2019 | 3,503.17 | Analyst x6 | 3,283.75 |
| 2020 | 5,069.57 | Analyst x7 | 4,454.42 |
| 2021 | 5,414.20 | Analyst x5 | 4,459.27 |
| 2022 | 5,482.67 | Analyst x3 | 4,232.83 |
| 2023 | 5,538.07 | Est @ 1.01% | 4,007.81 |
| 2024 | 5,584.46 | Est @ 0.84% | 3,788.26 |
| 2025 | 5,624.48 | Est @ 0.72% | 3,576.44 |
| 2026 | 5,660.02 | Est @ 0.63% | 3,373.62 |
| 2027 | 5,692.44 | Est @ 0.57% | 3,180.43 |
| 2028 | 5,722.67 | Est @ 0.53% | 2,997.07 |
| Present value of next 10 years cash flows | SEK37,353.91 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= SEK5,722.67 × (1 + 0.43%) ÷ (6.68% – 0.43%) |
SEK91,997.64 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= SEK91,997.64 ÷ (1 + 6.68%)10 |
SEK48,180.86 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= SEK37,353.91 + SEK48,180.86 |
SEK85,534.77 |
| Equity Value per Share (SEK) |
= Total value / Shares Outstanding
= SEK85,534.77 / 273.51 |
SEK312.73 |
| Calculation | Result | |
|---|---|---|
| Value per share (SEK) | From above. | SEK312.73 |
| Current discount | Discount to share price of
SEK225.45
= -1 x (SEK225.45 - SEK312.73) / SEK312.73 |
27.9% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Boliden's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Boliden's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 Boliden's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Boliden'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 (2019-03-31) in SEK | SEK25.88 |
| OM:BOL Share Price ** | OM (2019-06-14) in SEK | SEK225.45 |
| Sweden Metals and Mining Industry PE Ratio | Median Figure of 5 Publicly-Listed Metals and Mining Companies | 10.03x |
| Sweden Market PE Ratio | Median Figure of 325 Publicly-Listed Companies | 16.73x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Boliden.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = OM:BOL Share Price ÷ EPS (both in SEK) = 225.45 ÷ 25.88 |
8.71x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Boliden is good value based on earnings compared to the SE Metals and Mining industry average.
- Boliden is good value based on earnings compared to the Sweden market.
Price based on expected Growth
Does
Boliden's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 8.71x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts |
-6.8%per year |
| Europe Metals and Mining Industry PEG Ratio | Median Figure of 63 Publicly-Listed Metals and Mining Companies | 0.65x |
| Sweden Market PEG Ratio | Median Figure of 234 Publicly-Listed Companies | 1.38x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 8.71x ÷ -6.8% |
-1.28x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Boliden earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Boliden's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in SEK | SEK150.53 |
| OM:BOL Share Price * | OM (2019-06-14) in SEK | SEK225.45 |
| Sweden Metals and Mining Industry PB Ratio | Median Figure of 11 Publicly-Listed Metals and Mining Companies | 1.5x |
| Sweden Market PB Ratio | Median Figure of 568 Publicly-Listed Companies | 2.49x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = OM:BOL Share Price ÷ Book Value per Share (both in SEK) = 225.45 ÷ 150.53 |
1.5x |
* Primary Listing of Boliden.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Boliden is good value based on assets compared to the SE Metals and Mining industry average.
Value checks
We assess Boliden'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 Metals and Mining 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 Metals and Mining industry average (and greater than 0)? (1 check) Boliden has a total score of 4/6, 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.
BOL Future Performance
How is Boliden expected to perform in the next 1 to 3 years based on estimates from 13 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
- Boliden's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.4%.
Growth vs Market Checks
- Boliden's earnings are expected to decrease over the next 1-3 years, this is below the Sweden market average.
- Boliden's revenues are expected to decrease over the next 1-3 years, this is below the Sweden market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| OM:BOL Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts | -6.8% |
| OM:BOL Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts | -0.9% |
| Sweden Metals and Mining Industry Earnings Growth Rate | Market Cap Weighted Average | -2.9% |
| Sweden Metals and Mining Industry Revenue Growth Rate | Market Cap Weighted Average | -0.1% |
| Sweden Market Earnings Growth Rate | Market Cap Weighted Average | 8.5% |
| 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 (2 months ago) | See Below |
| Future Estimates | Average of up to 13 Analyst Estimates (S&P Global) | See Below |
| Date (Data in SEK Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-12-31 | 50,384 | 11,092 | 4,955 | 4 |
| 2021-12-31 | 53,876 | 11,204 | 5,888 | 12 |
| 2020-12-31 | 54,090 | 11,538 | 6,069 | 13 |
| 2019-12-31 | 53,675 | 11,293 | 6,468 | 12 |
| Date (Data in SEK Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 52,170 | 10,510 | 7,078 |
| 2018-12-31 | 52,454 | 11,768 | 7,198 |
| 2018-09-30 | 53,531 | 12,347 | 7,580 |
| 2018-06-30 | 52,649 | 13,022 | 7,773 |
| 2018-03-31 | 50,132 | 13,285 | 7,196 |
| 2017-12-31 | 49,531 | 12,737 | 6,854 |
| 2017-09-30 | 48,049 | 11,301 | 6,433 |
| 2017-06-30 | 46,154 | 9,419 | 6,091 |
| 2017-03-31 | 44,197 | 7,977 | 5,250 |
| 2016-12-31 | 40,316 | 6,995 | 4,237 |
| 2016-09-30 | 37,878 | 5,421 | 2,699 |
| 2016-06-30 | 37,909 | 6,181 | 2,210 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 13 Analyst Estimates (S&P Global) | See Below |
All data from Boliden Company Filings, last reported 2 months 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 |
|---|---|---|---|---|
| 2022-12-31 | 18.12 | 22.90 | 14.10 | 4.00 |
| 2021-12-31 | 22.04 | 27.71 | 13.70 | 11.00 |
| 2020-12-31 | 22.34 | 26.50 | 15.49 | 13.00 |
| 2019-12-31 | 23.52 | 27.70 | 18.85 | 13.00 |
| Date (Data in SEK Millions) | EPS * |
|---|---|
| 2019-03-31 | 25.88 |
| 2018-12-31 | 26.32 |
| 2018-09-30 | 27.71 |
| 2018-06-30 | 28.42 |
| 2018-03-31 | 26.31 |
| 2017-12-31 | 25.06 |
| 2017-09-30 | 23.52 |
| 2017-06-30 | 22.27 |
| 2017-03-31 | 19.19 |
| 2016-12-31 | 15.49 |
| 2016-09-30 | 9.87 |
| 2016-06-30 | 8.08 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Boliden'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 Sweden 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)
Boliden has a total score of 0/6, 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.
BOL Past Performance
How has Boliden 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
- Boliden has delivered over 20% year on year earnings growth in the past 5 years.
- Boliden's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Boliden's 1-year earnings growth is negative, it can't be compared to the SE Metals and Mining industry average.
Earnings and Revenue History
All data from Boliden Company Filings, last reported 2 months 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 |
|---|---|---|---|---|
| 2019-03-31 | 52,170.00 | 7,078.00 | 1,134.00 | 700.00 |
| 2018-12-31 | 52,454.00 | 7,198.00 | 1,105.00 | 705.00 |
| 2018-09-30 | 53,531.00 | 7,580.00 | 1,042.00 | 734.00 |
| 2018-06-30 | 52,649.00 | 7,773.00 | 969.00 | 705.00 |
| 2018-03-31 | 50,132.00 | 7,196.00 | 906.00 | 676.00 |
| 2017-12-31 | 49,531.00 | 6,854.00 | 887.00 | 659.00 |
| 2017-09-30 | 48,049.00 | 6,433.00 | 954.00 | 603.00 |
| 2017-06-30 | 46,154.00 | 6,091.00 | 1,013.00 | 580.00 |
| 2017-03-31 | 44,197.00 | 5,250.00 | 1,026.00 | 555.00 |
| 2016-12-31 | 40,316.00 | 4,237.00 | 1,020.00 | 530.00 |
| 2016-09-30 | 37,878.00 | 2,699.00 | 994.00 | 515.00 |
| 2016-06-30 | 37,909.00 | 2,210.00 | 968.00 | 514.00 |
| 2016-03-31 | 38,684.00 | 2,400.00 | 965.00 | 514.00 |
| 2015-12-31 | 40,242.00 | 2,640.00 | 962.00 | 496.00 |
| 2015-09-30 | 40,158.00 | 3,187.00 | 961.00 | 454.00 |
| 2015-06-30 | 39,681.00 | 3,154.00 | 943.00 | 426.00 |
| 2015-03-31 | 38,748.00 | 2,642.00 | 948.00 | 406.00 |
| 2014-12-31 | 36,891.00 | 1,898.00 | 915.00 | 395.00 |
| 2014-09-30 | 35,930.00 | 1,450.00 | 901.00 | 371.00 |
| 2014-06-30 | 35,113.00 | 1,333.00 | 934.00 | 373.00 |
| 2014-03-31 | 33,710.00 | 935.00 | 872.00 | 383.00 |
| 2013-12-31 | 34,409.00 | 1,291.00 | 912.00 | 405.00 |
| 2013-09-30 | 35,949.00 | 1,766.00 | 908.00 | 426.00 |
| 2013-06-30 | 36,602.00 | 2,096.00 | 900.00 | 432.00 |
| 2013-03-31 | 38,929.00 | 2,730.00 | 979.00 | 428.00 |
| 2012-12-31 | 40,001.00 | 3,339.00 | 935.00 | 429.00 |
| 2012-09-30 | 39,523.00 | 3,263.00 | 913.00 | 427.00 |
| 2012-06-30 | 40,953.00 | 3,273.00 | 928.00 | 422.00 |
*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.
- Boliden has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Boliden used its assets more efficiently than the SE Metals and Mining industry average last year based on Return on Assets.
- Boliden has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Boliden'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 Metals and Mining 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)
Boliden 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.
BOL Health
How is Boliden'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 Boliden's finances.
The net worth of a company is the difference between its assets and liabilities.
- Boliden is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Boliden'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 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 Boliden Company Filings, last reported 2 months ago.
| Date (Data in SEK Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 41,182.00 | 3,591.00 | 1,930.00 |
| 2018-12-31 | 39,011.00 | 3,363.00 | 2,272.00 |
| 2018-09-30 | 37,276.00 | 4,024.00 | 1,203.00 |
| 2018-06-30 | 36,186.00 | 5,059.00 | 1,398.00 |
| 2018-03-31 | 37,735.00 | 6,534.00 | 5,008.00 |
| 2017-12-31 | 35,053.00 | 5,342.00 | 2,510.00 |
| 2017-09-30 | 32,519.00 | 6,601.00 | 1,475.00 |
| 2017-06-30 | 31,128.00 | 8,574.00 | 1,706.00 |
| 2017-03-31 | 31,019.00 | 8,462.00 | 930.00 |
| 2016-12-31 | 29,394.00 | 10,101.00 | 1,503.00 |
| 2016-09-30 | 27,578.00 | 11,100.00 | 742.00 |
| 2016-06-30 | 26,181.00 | 11,397.00 | 972.00 |
| 2016-03-31 | 26,470.00 | 5,421.00 | 856.00 |
| 2015-12-31 | 25,807.00 | 5,677.00 | 923.00 |
| 2015-09-30 | 25,620.00 | 5,814.00 | 947.00 |
| 2015-06-30 | 24,997.00 | 6,448.00 | 689.00 |
| 2015-03-31 | 24,683.00 | 7,384.00 | 683.00 |
| 2014-12-31 | 23,975.00 | 7,683.00 | 865.00 |
| 2014-09-30 | 23,454.00 | 7,619.00 | 544.00 |
| 2014-06-30 | 22,879.00 | 9,088.00 | 1,284.00 |
| 2014-03-31 | 23,129.00 | 8,417.00 | 289.00 |
| 2013-12-31 | 23,075.00 | 8,307.00 | 611.00 |
| 2013-09-30 | 22,454.00 | 7,560.00 | 223.00 |
| 2013-06-30 | 22,023.00 | 7,904.00 | 79.00 |
| 2013-03-31 | 22,971.00 | 5,936.00 | 846.00 |
| 2012-12-31 | 22,354.00 | 5,981.00 | 1,011.00 |
| 2012-09-30 | 21,891.00 | 5,405.00 | 361.00 |
| 2012-06-30 | 21,414.00 | 5,820.00 | 355.00 |
- Boliden's level of debt (8.7%) 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 (36.4% vs 8.7% today).
- Debt is well covered by operating cash flow (292.7%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 73.9x coverage).
Financial health checks
We assess Boliden'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) Boliden 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.
BOL Dividends
What is Boliden'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
Boliden
shares you are expected to receive
SEK115
in your first year as a dividend.
Dividend Amount
- Boliden's pays a higher dividend yield than the bottom 25% of dividend payers in Sweden (1.83%).
- Boliden's dividend is above the markets top 25% of dividend payers in Sweden (4.35%).
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 13 Analyst Estimates (S&P Global) | See Below |
| Sweden Metals and Mining Industry Average Dividend Yield | Market Cap Weighted Average of 5 Stocks | 5.3% |
| Sweden Market Average Dividend Yield | Market Cap Weighted Average of 244 Stocks | 3.2% |
| Sweden Minimum Threshold Dividend Yield | 10th Percentile | 1.1% |
| Sweden Bottom 25% Dividend Yield | 25th Percentile | 1.8% |
| Sweden Top 25% Dividend Yield | 75th Percentile | 4.3% |
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 |
|---|---|---|
| 2022-12-31 | 12.13 | 3.00 |
| 2021-12-31 | 12.91 | 13.00 |
| 2020-12-31 | 12.36 | 14.00 |
| 2019-12-31 | 12.07 | 14.00 |
| Date (Data in SEK) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-03-27 | 13.000 | 5.192 |
| 2018-03-21 | 8.250 | 3.353 |
| 2017-03-20 | 5.250 | 1.958 |
| 2016-03-23 | 3.250 | 1.715 |
| 2015-05-05 | 2.250 | 1.545 |
| 2014-05-06 | 1.750 | 1.438 |
| 2013-05-03 | 4.000 | 4.196 |
| 2012-05-03 | 4.000 | 3.738 |
| 2011-05-03 | 5.000 | 5.022 |
| 2010-04-27 | 3.000 | 2.751 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Boliden 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 Boliden only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of
Boliden's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are well covered by earnings (3x coverage).
- Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
Income/ dividend checks
We assess Boliden's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.1%) - 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 Boliden afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Boliden 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.
BOL Management
CEO
| COMPENSATION | SEK8,444,000 |
| AGE | 53 |
| TENURE AS CEO | 1 years |
CEO Bio
Mr. Mikael Staffas, M.Sc. Engineering, MBA, serves as President and CEO of Boliden AB since June 01, 2018. He was the President of Boliden Mines at Boliden AB from November 2015 until June 01, 2018 and also served as its Director Business Area Mines. Mr. Staffas serves as the President of Boliden Mines at Boliden Tara Mines Ltd. He served as the Chief Financial Officer of Boliden AB since March 11, 2011 until April 8, 2016. He served as Business Area Manager for Boliden Mines since November 2015 until March 11, 2016. Mr. Staffas served as an Acting Director of Boliden Mines at Boliden AB since August 15, 2015. He served as a Member of Group Management of Södra Skogsägarna ekonomisk förening since March 1, 2005 and served as its Chief Financial Officer since 2005. He served as the Head of Control at Södra Skogsägarna ekonomisk förening since March 1, 2005. Mr. Staffas spent 14 years working in various positions within the management consultancy firm, McKinsey, the last five as a Partner. Along with his in-depth experience of financial control, risk management and strategy, he has also experience of working with raw materials and logistics - including within the metals industry - gained to a large extent at McKinsey. He has been Non-Executive Director of SJ AB since April 26, 2013. He serves as a Director of Sodra Vindkraft AB. He served as a Director of SunPine AB. Mr. Staffas graduated with a B.Sc. from the KTH Royal Institute of Technology. He also holds M.Sc., in Engineering and MBA.
CEO Compensation
- Insufficient data for Ms to compare compensation growth.
- Ms's remuneration is lower than average for companies of similar size in Sweden.
Management Team Tenure
Average tenure and age of the Boliden management team in years:
- The tenure for the Boliden management team is about average.
Management Team
Ms Staffas
President & CEO
SEK8M
53
1 yrs
Håkan Gabrielsson
Chief Financial Officer
51
3.2 yrs
Göran Kördel
Chief Information Officer
5.1 yrs
Olof Grenmark
Director Investor Relations
1.3 yrs
Klas Nilsson
Director of Group Communications
2.7 yrs
Lars-Göran Björkqvist
Head of New Business Area Zinc Smelting Operations
68
13.8 yrs
Bjorn Stenecker
Chief Procurement Officer
48
6.8 yrs
Åsa Jackson
Senior Vice President of Corporate Responsibility
54
0.4 yrs
Stefan Romedahl
President of Boliden Mines
51
1.4 yrs
Board of Directors Tenure
Average tenure and age of the Boliden board of directors in years:
- The tenure for the Boliden board of directors is about average.
Board of Directors
Anders Ullberg
Chairman of the Board
SEK2M
72
14.4 yrs
Pia Rudengren
Director
SEK740K
53
2.2 yrs
Marie Berglund
Director
SEK550K
60
16.4 yrs
Marie Holmberg
Employee Representative Director
55
11.4 yrs
Michael Löw
Director
SEK600K
67
9.2 yrs
Tom Erixon
Director
SEK640K
58
6.4 yrs
Kenneth Ståhl
Employee Representative Director
45
5.4 yrs
Elisabeth Nilsson
Director
SEK550K
65
4.4 yrs
Cathrin Öderyd
Employee Representative Director
43
1.4 yrs
Perttu Louhiluoto
Director
54
0.1 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by Boliden insiders in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (SEK) | Value (SEK) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 07. May 19 | Buy | Håkan Gabrielsson | Individual | 06. May 19 | 06. May 19 | 725 | SEK249.10 | SEK180,597 | ||
| 07. May 19 | Buy | Stefan Romedahl | Individual | 07. May 19 | 07. May 19 | 400 | SEK246.60 | SEK98,640 | ||
| 07. May 19 | Buy | Mikael Staffas | Individual | 06. May 19 | 06. May 19 | 2,300 | SEK248.20 | SEK570,860 | ||
| 05. May 19 | Buy | Kerstin Konradsson | Individual | 03. May 19 | 03. May 19 | 620 | SEK272.00 | SEK168,640 | ||
| 25. Oct 18 | Buy | Mikael Staffas | Individual | 25. Oct 18 | 25. Oct 18 | 3,000 | SEK193.86 | SEK581,580 | ||
Management checks
We assess Boliden'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) Boliden 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.
BOL News
Simply Wall St News
Do You Know What Boliden AB (publ)'s (STO:BOL) P/E Ratio Means?
Check out our latest analysis for Boliden How Do I Calculate Boliden's Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Boliden: P/E of 8.5 = SEK219.95 ÷ SEK25.88 (Based on the year to March 2019.) Is A High Price-to-Earnings Ratio Good? … The higher the P/E ratio, the higher the price tag of a business, relative to its trailing earnings.
Simply Wall St - – Full articleWith A Return On Equity Of 17%, Has Boliden AB (publ)'s (STO:BOL) Management Done Well?
The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Boliden: 17% = kr7.1b ÷ kr41b (Based on the trailing twelve months to March 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Conservative use of debt to boost returns is usually a good move for shareholders, though it does leave the company more exposed to interest rate rises. … If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
Simply Wall St - – Full articleHave Insiders Been Buying Boliden AB (STO:BOL) Shares?
As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.' Check out our latest analysis for Boliden The Last 12 Months Of Insider Transactions At Boliden In the last twelve months, the biggest single purchase by an insider was when Lennart Evrell bought kr598k worth of shares at a price of kr323 per share. … Insiders at Boliden Have Bought Stock Recently Over the last three months, we've seen significant insider buying at Boliden. … Insiders likely see value in Boliden shares, given these transactions (along with notable insider ownership of the company).
Simply Wall St - – Full articleCan You Imagine How Chuffed Boliden's (STO:BOL) Shareholders Feel About Its 205% Share Price Gain?
One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … This EPS growth is higher than the 25% average annual increase in the share price. … The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers)
Simply Wall St - – Full articleWhat Kind Of Shareholders Own Boliden AB (STO:BOL)?
Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … We also tend to see lower insider ownership in companies that were previously publicly owned. … Taking a look at our data on the ownership groups (below), it's seems that.
Simply Wall St - – Full articleHow To Take Advantage Of Boliden AB (STO:BOL) In A Bear Market
Boliden AB is a financially healthy and robust stock with a proven track record of outperformance. … We all know Boliden, and having this large-cap to cushion your portfolio during a volatile period in the stock market isn't a bad idea. … Today I will give a high-level overview of the stock, and why I believe it's still attractive.
Simply Wall St - – Full articleBoliden AB (STO:BOL): What Does The Future Look Like?
Looking at Boliden AB's (STO:BOL) recent earnings update on 31 December 2018, … with profits predicted to drop by -20% next year
Simply Wall St - – Full articleDid Boliden AB (STO:BOL) Insiders Buy Up More Shares?
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … So we'll take a look at whether insiders have been buying or selling shares in Boliden AB (STO:BOL). … But logic dictates you should pay some attention to whether insiders are buying or selling shares.
Simply Wall St - – Full articleIs Boliden AB (STO:BOL) As Strong As Its Balance Sheet Indicates?
Let’s take a look at BOL’s debt concentration and assess their financial liquidity to get an idea of their ability to fund strategic acquisitions and grow through cyclical pressures. … Don’t forget that this is a general and concentrated examination of Boliden's financial health, so you should conduct further analysis. … BOL’s Debt (And Cash Flows)
Simply Wall St - – Full articleWhat Do Investors Need To Know About Boliden AB's (STO:BOL) Earnings Trend?
Boliden AB's (STO:BOL) latest earnings update in December 2018a … suggested … company
Simply Wall St - – Full articleBOL Company Info
Description
Boliden AB (publ), a metals company, explores for, mines, smelts, and recycles metals. It operates in two segments, Business Area Mines and Business Area Smelters. The company mines for zinc, copper, lead, gold, silver, nickel, and tellurium deposits. It operates the Aitik, the Boliden Area, and Garpenberg mines in Sweden; Tara mine in Ireland; and Kylylahti and Kevitsa mines in Finland. The company also produces zinc and lead ingots, copper cathodes, and gold bars and silver granules; sulphuric acid, zinc clinker, sulphur dioxide, and palladium concentrates; copper, lead, nickel, and zinc concentrates; and by-products comprising copper sulphate, zinc clinker, iron sand, copper telluride, selenium, nickel matte, crude nickel sulphate, and platinum group metal concentrates. In addition, it recycles copper and precious metals from electronic scrap; lead from used lead-acid batteries; and metals from waste products. Further, Boliden AB (publ) extracts silver from zinc concentrates. The company sells its products principally to industrial customers, as well as to base metal dealers and international metal stocks, such as the London Metal Exchange in Sweden, other Nordic region countries, Germany, the United Kingdom, other European countries, North America, and internationally. Boliden AB (publ) was founded in 1924 and is headquartered in Stockholm, Sweden.
Details
| Name: | Boliden AB (publ) |
| BOL | |
| Exchange: | OM |
| Founded: | 1924 |
| SEK61,663,093,051 | |
| 273,511,169 | |
| Website: | http://www.boliden.com |
| Address: |
Boliden AB (publ) Klarabergsviadukten 90, PO Box 44, Stockholm, Stockholm County, 101 20, Sweden |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| OM | BOL | Ordinary Shares | OMX Nordic Exchange Stockholm | SE | SEK | 05. Feb 1998 | |
| DB | BWJQ | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 05. Feb 1998 | |
| LSE | 0YAL | Ordinary Shares | London Stock Exchange | GB | SEK | 05. Feb 1998 | |
| OTCPK | BDNN.Y | ADR | Pink Sheets LLC | US | USD | 22. Oct 2008 | |
| LSE | 0YAL | NPV | London Stock Exchange | GB | SEK | 16. May 2018 | |
| OM | BOL IL | NPV (RED SHS 18/06/2019) | OMX Nordic Exchange Stockholm | SE | SEK | 27. May 2019 | |
| BATS-CHIXE | BOLS | NPV | BATS 'Chi-X Europe' | GB | SEK | 16. May 2018 |
Number of employees
Current staff
Industry
| Diversified Metals and Mining | |
| Materials |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/06/16 21:05 |
| End of day share price update: | 2019/06/14 00:00 |
| Last estimates confirmation: | 2019/06/04 |
| Last earnings filing: | 2019/05/03 |
| Last earnings reported: | 2019/03/31 |
| 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.
