OM:BOL

Stock Analysis Report

Executive Summary

Boliden AB (publ), a metals company, explores for, mines, smelts, and recycles metals.

Rewards

Trading at 12.4% below its fair value

Earnings are forecast to grow -0.065% per year

Risk Analysis

Earnings are forecast to decline by an average of -0.07% per year for the next 3 years

Unstable dividend track record



Snowflake Analysis

Flawless balance sheet established dividend payer.


Similar Companies

Share Price & News

How has Boliden's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BOL has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.2%

BOL

2.1%

SE Metals and Mining

1.0%

SE Market


1 Year Return

24.2%

BOL

16.0%

SE Metals and Mining

22.6%

SE Market

Return vs Industry: BOL exceeded the Swedish Metals and Mining industry which returned 16% over the past year.

Return vs Market: BOL exceeded the Swedish Market which returned 22.6% over the past year.


Shareholder returns

BOLIndustryMarket
7 Day1.2%2.1%1.0%
30 Day-5.0%0.7%1.6%
90 Day-1.1%1.8%6.6%
1 Year28.3%24.2%20.3%16.0%27.7%22.6%
3 Year7.8%-0.5%3.8%-4.3%34.9%14.1%
5 Year120.6%96.4%45.3%26.7%60.8%26.4%

Price Volatility Vs. Market

How volatile is Boliden's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Boliden undervalued compared to its fair value and its price relative to the market?

12.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BOL (SEK250.4) is trading below our estimate of fair value (SEK285.7)

Significantly Below Fair Value: BOL is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: BOL is good value based on its PE Ratio (10.9x) compared to the Metals and Mining industry average (10.9x).

PE vs Market: BOL is good value based on its PE Ratio (10.9x) compared to the Swedish market (18.9x).


Price to Earnings Growth Ratio

PEG Ratio: BOL's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: BOL is overvalued based on its PB Ratio (1.7x) compared to the SE Metals and Mining industry average (1.1x).


Next Steps

Future Growth

How is Boliden forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?

-0.07%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BOL's forecast earnings growth (-0.07% per year) is above the savings rate (-0.4%).

Earnings vs Market: BOL's earnings are forecast to decline over the next 3 years (-0.07% per year).

High Growth Earnings: BOL's earnings are forecast to decline over the next 3 years.

Revenue vs Market: BOL's revenue (3.4% per year) is forecast to grow slower than the Swedish market (4.4% per year).

High Growth Revenue: BOL's revenue (3.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BOL's Return on Equity is forecast to be low in 3 years time (13.2%).


Next Steps

Past Performance

How has Boliden performed over the past 5 years?

26.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BOL has high quality earnings.

Growing Profit Margin: BOL's current net profit margins (12.7%) are lower than last year (14.2%).


Past Earnings Growth Analysis

Earnings Trend: BOL's earnings have grown significantly by 26.6% per year over the past 5 years.

Accelerating Growth: BOL's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BOL had negative earnings growth (-17%) over the past year, making it difficult to compare to the Metals and Mining industry average (-11.4%).


Return on Equity

High ROE: BOL's Return on Equity (15.5%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Boliden's financial position?


Financial Position Analysis

Short Term Liabilities: BOL's short term assets (SEK17.2B) exceed its short term liabilities (SEK10.3B).

Long Term Liabilities: BOL's short term assets (SEK17.2B) exceed its long term liabilities (SEK12.5B).


Debt to Equity History and Analysis

Debt Level: BOL's debt to equity ratio (14.3%) is considered satisfactory.

Reducing Debt: BOL's debt to equity ratio has reduced from 32.5% to 14.3% over the past 5 years.

Debt Coverage: BOL's debt is well covered by operating cash flow (155.9%).

Interest Coverage: BOL's interest payments on its debt are well covered by EBIT (65.1x coverage).


Balance Sheet

Inventory Level: BOL has a high level of physical assets or inventory.

Debt Coverage by Assets: BOL's debt is covered by short term assets (assets are 3x debt).


Next Steps

Dividend

What is Boliden's current dividend yield, its reliability and sustainability?

5.19%

Current Dividend Yield


Dividend Yield vs Market

company5.2%marketbottom25%1.6%markettop25%4.6%industryaverage4.9%forecastin3Years5.0%

Current dividend yield vs market & industry

Notable Dividend: BOL's dividend (5.19%) is higher than the bottom 25% of dividend payers in the Swedish market (1.6%).

High Dividend: BOL's dividend (5.19%) is in the top 25% of dividend payers in the Swedish market (4.56%)


Stability and Growth of Payments

Stable Dividend: BOL's dividend payments have been volatile in the past 10 years.

Growing Dividend: BOL's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (38%), BOL's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BOL's dividends in 3 years are forecast to be covered by earnings (66.3% payout ratio).


Next Steps

Management

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

2.5yrs

Average management tenure


CEO

Ms Staffas (54yo)

1.5yrs

Tenure

kr8,444,000

Compensation

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 als ...


CEO Compensation Analysis

Compensation vs Market: Ms's total compensation ($USD898.00K) is below average for companies of similar size in the Swedish market ($USD1.84M).

Compensation vs Earnings: Insufficient data to compare Ms's compensation with company performance.


Management Age and Tenure

2.5yrs

Average Tenure

52yo

Average Age

Experienced Management: BOL's management team is considered experienced (2.5 years average tenure).


Board Age and Tenure

6.4yrs

Average Tenure

57.5yo

Average Age

Experienced Board: BOL's board of directors are considered experienced (6.4 years average tenure).


Insider Trading

Insider Buying: BOL insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Buykr209,56025 Nov 19
Elisabeth Nilsson
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares800
Max Pricekr261.95
Buykr630,78019 Jul 19
Mikael Staffas
EntityIndividual
Role
Chief Executive Officer
President & CEO
Shares3,000
Max Pricekr210.26
Buykr62,64019 Jul 19
Håkan Gabrielsson
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares300
Max Pricekr208.80
Buykr180,59707 May 19
Håkan Gabrielsson
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares725
Max Pricekr249.10
Buykr98,64007 May 19
Stefan Romedahl
EntityIndividual
Role
Unit President
President of Boliden Mines
Shares400
Max Pricekr246.60
Buykr570,86007 May 19
Mikael Staffas
EntityIndividual
Role
Chief Executive Officer
President & CEO
Shares2,300
Max Pricekr248.20
Buykr168,64005 May 19
Kerstin Konradsson
EntityIndividual
Shares620
Max Pricekr272.00

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Lars-Göran Björkqvist (69yo)

    Head of New Business Area Zinc Smelting Operations

    • Tenure: 14.3yrs
  • Ms Staffas (54yo)

    President & CEO

    • Tenure: 1.5yrs
    • Compensation: kr8.44m
  • Stefan Romedahl (52yo)

    President of Boliden Mines

    • Tenure: 1.9yrs
  • Olof Grenmark

    Director Investor Relations

    • Tenure: 1.8yrs
  • Håkan Gabrielsson (52yo)

    Chief Financial Officer

    • Tenure: 3.7yrs
  • Bjorn Stenecker (49yo)

    Chief Procurement Officer

    • Tenure: 7.3yrs
  • Göran Kördel

    Chief Information Officer

    • Tenure: 5.6yrs
  • Åsa Jackson (55yo)

    Senior Vice President of Corporate Responsibility

    • Tenure: 0.9yrs
  • Klas Nilsson

    Director of Group Communications

    • Tenure: 3.2yrs
  • Daniel Peltonen (48yo)

    President of Boliden Smelters

    • Tenure: 0.9yrs

Board Members

  • Pia Rudengren (54yo)

    Independent Director

    • Tenure: 2.7yrs
    • Compensation: kr740.00k
  • Tom Erixon (59yo)

    Independent Director

    • Tenure: 6.9yrs
    • Compensation: kr640.00k
  • Anders Ullberg (73yo)

    Chairman of the Board

    • Tenure: 14.9yrs
    • Compensation: kr1.79m
  • Marie Berglund (61yo)

    Independent Director

    • Tenure: 16.9yrs
    • Compensation: kr550.00k
  • Michael Löw (68yo)

    Independent Director

    • Tenure: 9.7yrs
    • Compensation: kr600.00k
  • Marie Holmberg (56yo)

    Employee Representative Director

    • Tenure: 11.9yrs
  • Perttu Louhiluoto (55yo)

    Director

    • Tenure: 0.6yrs
  • Elisabeth Nilsson (66yo)

    Independent Director

    • Tenure: 4.9yrs
    • Compensation: kr550.00k
  • Kenneth Ståhl (46yo)

    Employee Representative Director

    • Tenure: 5.9yrs
  • Cathrin Öderyd (44yo)

    Employee Representative Director

    • Tenure: 1.9yrs

Company Information

Boliden AB (publ)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Boliden AB (publ)
  • Ticker: BOL
  • Exchange: OM
  • Founded: 1924
  • Industry: Diversified Metals and Mining
  • Sector: Materials
  • Market Cap: kr68.487b
  • Shares outstanding: 273.51m
  • Website: https://www.boliden.com

Number of Employees


Location

  • Boliden AB (publ)
  • Klarabergsviadukten 90
  • PO Box 44
  • Stockholm
  • Stockholm County
  • 101 20
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BOLOM (OMX Nordic Exchange Stockholm)YesOrdinary SharesSESEKFeb 1998
BWJQDB (Deutsche Boerse AG)YesOrdinary SharesDEEURFeb 1998
0YALLSE (London Stock Exchange)YesOrdinary SharesGBSEKFeb 1998
BOLI.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDFeb 1998
BDNN.YOTCPK (Pink Sheets LLC)ADRUSUSDOct 2008
0YALLSE (London Stock Exchange)NPVGBSEKMay 2018
BOLSBATS-CHIXE (BATS 'Chi-X Europe')NPVGBSEKMay 2018

Biography

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, ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/15 21:08
End of Day Share Price2019/12/13 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.