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Boliden

OM:BOL
Snowflake Description

Flawless balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BOL
OM
SEK63B
Market Cap
  1. Home
  2. SE
  3. Materials
Company description

Boliden AB (publ), a metals company, explores for, mines, smelts, and recycles metals. The last earnings update was 46 days ago. More info.


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BOL Share Price and Events
7 Day Returns
0.1%
OM:BOL
0.9%
SE Metals and Mining
0.7%
SE Market
1 Year Returns
-22.5%
OM:BOL
-27.5%
SE Metals and Mining
4.1%
SE Market
BOL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Boliden (BOL) 0.1% -0.9% -9.1% -22.5% 50.2% 137.4%
SE Metals and Mining 0.9% -2.4% -9% -27.5% 48.5% -0.1%
SE Market 0.7% 0.6% 0.9% 4.1% 16.8% 17.8%
1 Year Return vs Industry and Market
  • BOL outperformed the Metals and Mining industry which returned -27.5% over the past year.
  • BOL underperformed the Market in Sweden which returned 4.1% over the past year.
Price Volatility
BOL
Industry
5yr Volatility vs Market

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.
Raw Data

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

OM:BOL Discounted Cash Flow Data Sources
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.

Calculation of Discount Rate/ Cost of Equity for OM:BOL
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 1.02
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.024 (1 + (1- 22%) (5.67%))
1.046
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% + (1.046 * 5.96%)
6.67%

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.

OM:BOL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SEK, Millions) Source Present Value
Discounted (@ 6.67%)
2019 3,396.33 Analyst x6 3,183.97
2020 4,941.43 Analyst x7 4,342.80
2021 5,234.20 Analyst x5 4,312.47
2022 5,482.67 Analyst x3 4,234.73
2023 5,667.89 Est @ 3.38% 4,104.06
2024 5,809.31 Est @ 2.5% 3,943.44
2025 5,918.34 Est @ 1.88% 3,766.25
2026 6,003.80 Est @ 1.44% 3,581.74
2027 6,072.32 Est @ 1.14% 3,396.10
2028 6,128.74 Est @ 0.93% 3,213.33
Present value of next 10 years cash flows SEK38,078.87
OM:BOL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SEK6,128.74 × (1 + 0.43%) ÷ (6.67% – 0.43%)
SEK98,714.32
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SEK98,714.32 ÷ (1 + 6.67%)10
SEK51,756.45
OM:BOL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SEK38,078.87 + SEK51,756.45
SEK89,835.32
Equity Value per Share
(SEK)
= Total value / Shares Outstanding
= SEK89,835.32 / 273.51
SEK328.45
OM:BOL Discount to Share Price
Calculation Result
Value per share (SEK) From above. SEK328.45
Current discount Discount to share price of SEK231.70
= -1 x (SEK231.70 - SEK328.45) / SEK328.45
29.5%

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

Current Discount
Amount off the current price Boliden is available for.
Intrinsic value
29%
Share price is SEK231.7 vs Future cash flow value of SEK328.45
Current Discount Checks
For Boliden to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • 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?
Raw Data
OM:BOL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in SEK SEK25.88
OM:BOL Share Price ** OM (2019-06-18) in SEK SEK231.7
Sweden Metals and Mining Industry PE Ratio Median Figure of 5 Publicly-Listed Metals and Mining Companies 10.16x
Sweden Market PE Ratio Median Figure of 325 Publicly-Listed Companies 16.58x

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

** Primary Listing of Boliden.

OM:BOL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OM:BOL Share Price ÷ EPS (both in SEK)

= 231.7 ÷ 25.88

8.95x

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?
Raw Data
OM:BOL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.95x
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 64 Publicly-Listed Metals and Mining Companies 0.61x
Sweden Market PEG Ratio Median Figure of 233 Publicly-Listed Companies 1.36x

*Line of best fit is calculated by linear regression .

OM:BOL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.95x ÷ -6.8%

-1.32x

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?
Raw Data
OM:BOL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in SEK SEK150.53
OM:BOL Share Price * OM (2019-06-18) in SEK SEK231.7
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 2.5x
OM:BOL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OM:BOL Share Price ÷ Book Value per Share (both in SEK)

= 231.7 ÷ 150.53

1.54x

* Primary Listing of Boliden.

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

  • Boliden is overvalued based on assets compared to the SE Metals and Mining industry average.
X
Value checks
We assess Boliden's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Boliden has a total score of 3/6, 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!
Annual Growth Rate
-6.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Boliden expected to grow at an attractive rate?
  • 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
Raw Data
OM:BOL Future Growth Rates Data Sources
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 -3%
Sweden Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average -0.3%
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
Raw Data
OM:BOL Analysts Growth Expectations Data Sources
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 numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OM:BOL Future Estimates Data
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 53,530 11,054 5,813 12
2020-12-31 53,771 11,389 6,002 13
2019-12-31 53,511 11,186 6,408 12
OM:BOL Past Financials Data
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.

Super high growth metrics
High Growth Checks
  • Boliden's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Boliden's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OM:BOL 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.

OM:BOL Future Estimates Data
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 21.74 27.71 13.70 11.00
2020-12-31 22.09 24.69 15.49 13.00
2019-12-31 23.30 26.79 18.85 13.00
OM:BOL Past Financials Data
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.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Boliden is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Boliden's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Sweden market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Sweden market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
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
Below we compare Boliden's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • 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
Boliden's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Boliden Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:BOL Past Revenue, Cash Flow and Net Income Data
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).
X
Past performance checks
We assess Boliden's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
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.
Net Worth
  • 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
This treemap shows a more detailed breakdown of Boliden's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is 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.
Raw Data

All data from Boliden Company Filings, last reported 2 months ago.

OM:BOL Past Debt and Equity Data
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).
X
Financial health checks
We assess Boliden's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Boliden has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

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
Dividend payments
5.61%
Current annual income from Boliden dividends. Estimated to be 5.33% next year.
If you bought SEK2,000 of Boliden shares you are expected to receive SEK112 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • 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 (4.33%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OM:BOL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 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.

OM:BOL Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 12.13 3.00
2021-12-31 12.82 13.00
2020-12-31 12.28 14.00
2019-12-31 12.07 14.00
OM:BOL Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2019-03-27 13.000 5.211
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).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.6x coverage).
X
Income/ dividend checks
We assess Boliden's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Boliden afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. 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

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Ms Staffas
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:

2.7
Average Tenure
52
Average Age
  • The tenure for the Boliden management team is about average.
Management Team

Ms Staffas

TITLE
President & CEO
COMPENSATION
SEK8M
AGE
53
TENURE
1 yrs

Håkan Gabrielsson

TITLE
Chief Financial Officer
AGE
51
TENURE
3.2 yrs

Göran Kördel

TITLE
Chief Information Officer
TENURE
5.1 yrs

Olof Grenmark

TITLE
Director Investor Relations
TENURE
1.3 yrs

Klas Nilsson

TITLE
Director of Group Communications
TENURE
2.7 yrs

Lars-Göran Björkqvist

TITLE
Head of New Business Area Zinc Smelting Operations
AGE
68
TENURE
13.8 yrs

Bjorn Stenecker

TITLE
Chief Procurement Officer
AGE
48
TENURE
6.8 yrs

Åsa Jackson

TITLE
Senior Vice President of Corporate Responsibility
AGE
54
TENURE
0.4 yrs

Stefan Romedahl

TITLE
President of Boliden Mines
AGE
51
TENURE
1.4 yrs
Board of Directors Tenure

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

5.9
Average Tenure
56.5
Average Age
  • The tenure for the Boliden board of directors is about average.
Board of Directors

Anders Ullberg

TITLE
Chairman of the Board
COMPENSATION
SEK2M
AGE
72
TENURE
14.4 yrs

Pia Rudengren

TITLE
Director
COMPENSATION
SEK740K
AGE
53
TENURE
2.2 yrs

Marie Berglund

TITLE
Director
COMPENSATION
SEK550K
AGE
60
TENURE
16.4 yrs

Marie Holmberg

TITLE
Employee Representative Director
AGE
55
TENURE
11.4 yrs

Michael Löw

TITLE
Director
COMPENSATION
SEK600K
AGE
67
TENURE
9.2 yrs

Tom Erixon

TITLE
Director
COMPENSATION
SEK640K
AGE
58
TENURE
6.4 yrs

Kenneth Ståhl

TITLE
Employee Representative Director
AGE
45
TENURE
5.4 yrs

Elisabeth Nilsson

TITLE
Director
COMPENSATION
SEK550K
AGE
65
TENURE
4.4 yrs

Cathrin Öderyd

TITLE
Employee Representative Director
AGE
43
TENURE
1.4 yrs

Perttu Louhiluoto

TITLE
Director
AGE
54
TENURE
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
X
Management checks
We assess Boliden's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. 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 -

With 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 -

Have 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 -

Can 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 -

What 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 -

How 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 -

Boliden 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 -

Did 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 -

Is 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 -

What 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 -

BOL 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
SEK63,372,537,857
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
Staff numbers
5,917
Boliden employees.
Industry
Diversified Metals and Mining
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/18 21:02
End of day share price update: 2019/06/18 00:00
Last estimates confirmation: 2019/06/17
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.