Executive Summary
Gränges AB (publ) develops, produces, and distributes rolled aluminum products for brazed heat exchanger and niche applications in Europe, Asia, and the Americas. More Details
Rewards
Risk Analysis
Snowflake Analysis
High growth potential with adequate balance sheet.
Similar Companies
Share Price & News
How has Gränges's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: GRNG is not significantly more volatile than the rest of Swedish stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: GRNG's weekly volatility (5%) has been stable over the past year.
Market Performance
7 Day Return
-1.3%
GRNG
-4.4%
SE Metals and Mining
-0.4%
SE Market
1 Year Return
2.9%
GRNG
6.0%
SE Metals and Mining
13.3%
SE Market
Return vs Industry: GRNG underperformed the Swedish Metals and Mining industry which returned 10.5% over the past year.
Return vs Market: GRNG underperformed the Swedish Market which returned 15.4% over the past year.
Shareholder returns
| GRNG | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.3% | -4.4% | -0.4% |
| 30 Day | 4.2% | 5.0% | 4.0% |
| 90 Day | 10.5% | 12.0% | 7.8% |
| 1 Year | 16.1%2.9% | 9.7%6.0% | 16.4%13.3% |
| 3 Year | 45.1%21.6% | -2.8%-11.3% | 45.2%27.9% |
| 5 Year | 101.8%59.4% | 133.3%98.7% | 85.8%46.5% |
Long-Term Price Volatility Vs. Market
How volatile is Gränges's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
What Type Of Shareholders Own The Most Number of Gränges AB (publ) (STO:GRNG) Shares?3 weeks ago | Simply Wall St
Calculating The Fair Value Of Gränges AB (publ) (STO:GRNG)1 month ago | Simply Wall St
Did You Participate In Any Of Gränges' (STO:GRNG) Respectable 72% Return?Valuation
Is Gränges undervalued compared to its fair value and its price relative to the market?
25.45x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: GRNG (SEK102.4) is trading above our estimate of fair value (SEK86.57)
Significantly Below Fair Value: GRNG is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: GRNG is poor value based on its PE Ratio (25.4x) compared to the SE Metals and Mining industry average (23.8x).
PE vs Market: GRNG is poor value based on its PE Ratio (25.4x) compared to the Swedish market (23.8x).
Price to Earnings Growth Ratio
PEG Ratio: GRNG is good value based on its PEG Ratio (0.5x)
Price to Book Ratio
PB vs Industry: GRNG's PB Ratio (1.7x) is in line with the SE Metals and Mining industry average.
Next Steps
Future Growth
How is Gränges forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
53.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: GRNG's forecast earnings growth (53.7% per year) is above the savings rate (0.4%).
Earnings vs Market: GRNG's earnings (53.7% per year) are forecast to grow faster than the Swedish market (12% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: GRNG's revenue (28.6% per year) is forecast to grow faster than the Swedish market (3.4% per year).
High Growth Revenue: GRNG's revenue (28.6% per year) is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: GRNG's Return on Equity is forecast to be low in 3 years time (14%).
Next Steps
Past Performance
How has Gränges performed over the past 5 years?
5.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: GRNG has high quality earnings.
Growing Profit Margin: GRNG's current net profit margins (2.9%) are lower than last year (5.7%).
Past Earnings Growth Analysis
Earnings Trend: GRNG's earnings have grown by 5.1% per year over the past 5 years.
Accelerating Growth: GRNG's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: GRNG had negative earnings growth (-56.6%) over the past year, making it difficult to compare to the Metals and Mining industry average (-56.6%).
Return on Equity
High ROE: GRNG's Return on Equity (6.8%) is considered low.
Next Steps
Financial Health
How is Gränges's financial position?
Financial Position Analysis
Short Term Liabilities: GRNG's short term assets (SEK4.3B) exceed its short term liabilities (SEK2.8B).
Long Term Liabilities: GRNG's short term assets (SEK4.3B) exceed its long term liabilities (SEK2.9B).
Debt to Equity History and Analysis
Debt Level: GRNG's debt to equity ratio (71%) is considered high.
Reducing Debt: GRNG's debt to equity ratio has increased from 44.2% to 71% over the past 5 years.
Debt Coverage: GRNG's debt is well covered by operating cash flow (43.9%).
Interest Coverage: GRNG's interest payments on its debt are well covered by EBIT (5.7x coverage).
Balance Sheet
Next Steps
Dividend
What is Gränges's current dividend yield, its reliability and sustainability?
3.34%
Forecast Dividend Yield
Dividend Yield vs Market
Notable Dividend: Unable to evaluate GRNG's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate GRNG's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if GRNG's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if GRNG's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: GRNG is not paying a notable dividend for the Swedish market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of GRNG's dividend in 3 years as they are not forecast to pay a notable one for the Swedish market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
7.0yrs
Average management tenure
CEO
Johan Menckel (49 yo)
8yrs
Tenure
kr14,500,000
Compensation
Mr. Johan Menckel has been the Chief Executive Officer of Gränges AB (publ) (AKA Sapa AB) since 2013. Mr. Menckel served as Business Area President at SAPA Heat Transfer at Orkla ASA since February 1, 2012...
CEO Compensation Analysis
Compensation vs Market: Johan's total compensation ($USD1.73M) is above average for companies of similar size in the Swedish market ($USD983.36K).
Compensation vs Earnings: Johan's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chief Executive Officer | 8yrs | kr14.50m | 0.036% SEK 4.0m | |
| Deputy CEO & CFO | 8yrs | kr9.80m | 0.014% SEK 1.6m | |
| Chairman Emeritus and Director of Technology | 16.75yrs | no data | no data | |
| Senior Vice President of Technology & Innovation | 1yr | no data | 0.0063% SEK 704.3k | |
| Chief Information Officer | 6yrs | no data | no data | |
| Vice President of Group Treasury & Investor Relations | no data | no data | no data | |
| General Counsel | 7yrs | no data | 0.0047% SEK 528.0k | |
| Senior Vice President of Corporate Responsibility & Communication | 2yrs | no data | 0.0024% SEK 262.3k | |
| Executive Vice President of Business Development | 7.33yrs | no data | no data | |
| Senior Vice President of Human Resources | 3.92yrs | no data | 0.0021% SEK 231.1k | |
| Executive Vice President of Extrusion Europe Business Area | no data | no data | no data | |
| President of Asia | 8yrs | no data | no data |
7.0yrs
Average Tenure
53yo
Average Age
Experienced Management: GRNG's management team is seasoned and experienced (7 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman Emeritus and Director of Technology | 16.75yrs | no data | no data | |
| Employee Representative Director | 11yrs | kr40.00k | 0.00044% SEK 49.1k | |
| Chairman of the Board | 0.67yr | no data | no data | |
| Chairman of Orkla ASA | no data | no data | no data | |
| Independent Director | 6.58yrs | kr366.67k | 0.0011% SEK 123.9k | |
| Independent Director | 6.33yrs | kr331.67k | 0.0023% SEK 252.3k | |
| Independent Director | 5yrs | kr331.67k | no data | |
| Observer | no data | no data | no data | |
| Employee Representative Director | 7yrs | kr40.00k | 0.00022% SEK 24.6k | |
| Independent Director | 4.75yrs | kr353.33k | 0.0047% SEK 524.6k | |
| Independent Director | 4.75yrs | kr331.67k | no data | |
| Independent Director | 2.67yrs | kr386.67k | 0.0047% SEK 524.6k |
5.7yrs
Average Tenure
61yo
Average Age
Experienced Board: GRNG's board of directors are considered experienced (5.7 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: GRNG insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 40.8%.
Top Shareholders
Company Information
Gränges AB (publ)'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Gränges AB (publ)
- Ticker: GRNG
- Exchange: OM
- Founded: 1896
- Industry: Aluminum
- Sector: Materials
- Market Cap: kr11.162b
- Shares outstanding: 106.31m
- Website: https://www.granges.com
Number of Employees
Location
- Gränges AB (publ)
- Linnégatan 18
- Stockholm
- Stockholm County
- 114 47
- Sweden
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| GRNG | OM (OMX Nordic Exchange Stockholm) | Yes | Common Shares | SE | SEK | Oct 2014 |
| GRNGS | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Common Shares | GB | SEK | Oct 2014 |
| 9GR | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Oct 2014 |
| 0R9X | LSE (London Stock Exchange) | Yes | Common Shares | GB | SEK | Oct 2014 |
Biography
Gränges AB (publ) develops, produces, and distributes rolled aluminum products for brazed heat exchanger and niche applications in Europe, Asia, and the Americas. The company offers clad tubes, clad fins, ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/15 19:12 |
| End of Day Share Price | 2021/01/15 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.