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SSAB

OM:SSAB A
Snowflake Description

Flawless balance sheet, undervalued and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SSAB A
OM
SEK30B
Market Cap
  1. Home
  2. SE
  3. Materials
Company description

SSAB AB (publ) produces and sells steel products in Sweden. The last earnings update was 31 days ago. More info.


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SSAB A Share Price and Events
7 Day Returns
-2.1%
OM:SSAB A
-3.8%
SE Metals and Mining
-1.7%
SE Market
1 Year Returns
-35.6%
OM:SSAB A
-30.3%
SE Metals and Mining
-1%
SE Market
SSAB A Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
SSAB (SSAB A) -2.1% -13.6% -14.3% -35.6% 11.3% -51.2%
SE Metals and Mining -3.8% -19.3% -11.8% -30.3% 35.3% -0.7%
SE Market -1.7% -5% 0.2% -1% 10% 15%
1 Year Return vs Industry and Market
  • SSAB A underperformed the Metals and Mining industry which returned -30.3% over the past year.
  • SSAB A underperformed the Market in Sweden which returned -1% over the past year.
Price Volatility
SSAB A
Industry
5yr Volatility vs Market

SSAB A Value

 Is SSAB 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 SSAB 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 SSAB.

OM:SSAB A Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 16 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.2%
Perpetual Growth Rate 10-Year SE Government Bond Rate 0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OM:SSAB A
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))
= 1.021 (1 + (1- 22%) (54.5%))
1.305
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.31
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.43% + (1.305 * 5.96%)
8.21%

Discounted Cash Flow Calculation for OM:SSAB A using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for SSAB 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:SSAB A DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SEK, Millions) Source Present Value
Discounted (@ 8.21%)
2019 5,035.81 Analyst x9 4,653.60
2020 4,982.26 Analyst x9 4,254.66
2021 5,164.17 Analyst x6 4,075.30
2022 4,753.00 Analyst x1 3,466.14
2023 4,470.00 Analyst x1 3,012.35
2024 4,349.87 Est @ -2.69% 2,708.91
2025 4,273.71 Est @ -1.75% 2,459.47
2026 4,226.89 Est @ -1.1% 2,247.91
2027 4,199.99 Est @ -0.64% 2,064.07
2028 4,186.75 Est @ -0.32% 1,901.40
Present value of next 10 years cash flows SEK30,843.81
OM:SSAB A DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SEK4,186.75 × (1 + 0.43%) ÷ (8.21% – 0.43%)
SEK54,055.41
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SEK54,055.41 ÷ (1 + 8.21%)10
SEK24,549.09
OM:SSAB A Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SEK30,843.81 + SEK24,549.09
SEK55,392.91
Equity Value per Share
(SEK)
= Total value / Shares Outstanding
= SEK55,392.91 / 1,029.84
SEK53.79
OM:SSAB A Discount to Share Price
Calculation Result
Value per share (SEK) From above. SEK53.79
Current discount Discount to share price of SEK31.27
= -1 x (SEK31.27 - SEK53.79) / SEK53.79
41.9%

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

Current Discount
Amount off the current price SSAB is available for.
Intrinsic value
42%
Share price is SEK31.27 vs Future cash flow value of SEK53.79
Current Discount Checks
For SSAB to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • SSAB's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • SSAB's share price is below the future cash flow value, and 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 SSAB's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are SSAB's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OM:SSAB A PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in SEK SEK4.04
OM:SSAB A Share Price ** OM (2019-05-24) in SEK SEK31.27
Sweden Metals and Mining Industry PE Ratio Median Figure of 5 Publicly-Listed Metals and Mining Companies 9.83x
Sweden Market PE Ratio Median Figure of 323 Publicly-Listed Companies 16.62x

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

** Primary Listing of SSAB.

OM:SSAB A PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 31.27 ÷ 4.04

7.73x

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

  • SSAB is good value based on earnings compared to the SE Metals and Mining industry average.
  • SSAB is good value based on earnings compared to the Sweden market.
Price based on expected Growth
Does SSAB's expected growth come at a high price?
Raw Data
OM:SSAB A PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.73x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts
2.2%per year
Europe Metals and Mining Industry PEG Ratio Median Figure of 64 Publicly-Listed Metals and Mining Companies 0.68x
Sweden Market PEG Ratio Median Figure of 235 Publicly-Listed Companies 1.31x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.73x ÷ 2.2%

3.53x

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

  • SSAB is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on SSAB's assets?
Raw Data
OM:SSAB A PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in SEK SEK60.31
OM:SSAB A Share Price * OM (2019-05-24) in SEK SEK31.27
Sweden Metals and Mining Industry PB Ratio Median Figure of 11 Publicly-Listed Metals and Mining Companies 1.48x
Sweden Market PB Ratio Median Figure of 568 Publicly-Listed Companies 2.47x
OM:SSAB A PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 31.27 ÷ 60.31

0.52x

* Primary Listing of SSAB.

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

  • SSAB is good value based on assets compared to the SE Metals and Mining industry average.
X
Value checks
We assess SSAB'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. SSAB has a total score of 5/6, 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.

SSAB A Future Performance

 How is SSAB expected to perform in the next 1 to 3 years based on estimates from 16 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
2.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is SSAB expected to grow at an attractive rate?
  • SSAB's earnings growth is expected to exceed the low risk savings rate of 0.4%.
Growth vs Market Checks
  • SSAB's earnings growth is positive but not above the Sweden market average.
  • SSAB'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:SSAB A Future Growth Rates Data Sources
Data Point Source Value (per year)
OM:SSAB A Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts 2.2%
OM:SSAB A Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 16 Analysts -0.6%
Sweden Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average -2.4%
Sweden Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average -0.5%
Sweden Market Earnings Growth Rate Market Cap Weighted Average 8.7%
Sweden Market Revenue Growth Rate Market Cap Weighted Average 4.6%

*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:SSAB A Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below
All numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OM:SSAB A Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 7,295
2022-12-31 74,821 7,529 3,640 1
2021-12-31 76,987 7,695 4,167 11
2020-12-31 76,222 7,590 3,888 16
2019-12-31 77,632 7,549 3,841 15
OM:SSAB A Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2019-03-31 77,570 7,284 4,164
2018-12-31 74,941 6,750 3,549
2018-09-30 72,706 7,453 3,186
2018-06-30 69,857 6,981 2,887
2018-03-31 67,708 6,438 2,460
2017-12-31 66,059 6,650 2,295
2017-09-30 63,484 4,786 2,034
2017-06-30 60,773 3,934 2,044
2017-03-31 58,129 4,080 1,571
2016-12-31 55,354 3,297 937
2016-09-30 53,411 3,839 192
2016-06-30 53,528 3,269 -683

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • SSAB's earnings are expected to grow by 2.2% yearly, however this is not considered high growth (20% yearly).
  • SSAB'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:SSAB A Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below

All data from SSAB Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:SSAB A Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 3.53 3.53 3.53 1.00
2021-12-31 3.57 4.72 2.09 9.00
2020-12-31 3.48 4.60 2.04 15.00
2019-12-31 3.57 4.14 2.76 14.00
OM:SSAB A Past Financials Data
Date (Data in SEK Millions) EPS *
2019-03-31 4.04
2018-12-31 3.45
2018-09-30 3.09
2018-06-30 2.80
2018-03-31 2.39
2017-12-31 2.23
2017-09-30 2.20
2017-06-30 2.21
2017-03-31 1.82
2016-12-31 1.18
2016-09-30 0.31
2016-06-30 -1.24

*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.
  • SSAB is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess SSAB'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.
SSAB has a total score of 1/6, 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.

SSAB A Past Performance

  How has SSAB 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 SSAB'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.
  • SSAB has delivered over 20% year on year earnings growth in the past 5 years.
  • SSAB's 1-year earnings growth exceeds its 5-year average (69.3% vs 68%)
  • SSAB's earnings growth has exceeded the SE Metals and Mining industry average in the past year (69.3% vs 6.5%).
Earnings and Revenue History
SSAB'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 SSAB Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:SSAB A 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 77,570.00 4,164.00 4,852.00
2018-12-31 74,941.00 3,549.00 4,691.00
2018-09-30 72,706.00 3,186.00 4,429.00
2018-06-30 69,857.00 2,887.00 4,300.00
2018-03-31 67,708.00 2,460.00 4,224.00
2017-12-31 66,059.00 2,295.00 4,210.00
2017-09-30 63,484.00 2,034.00 4,178.00
2017-06-30 60,773.00 2,044.00 4,209.00
2017-03-31 58,129.00 1,571.00 4,163.00
2016-12-31 55,354.00 937.00 4,169.00
2016-09-30 53,411.00 192.00 4,263.00
2016-06-30 53,528.00 -683.00 4,319.00
2016-03-31 54,360.00 -926.00 4,464.00
2015-12-31 56,864.00 -508.00 4,636.00
2015-09-30 59,565.00 -1,147.00 4,788.00
2015-06-30 59,285.00 -1,031.00 4,766.00
2015-03-31 53,699.00 -1,065.00 4,289.00
2014-12-31 47,752.00 -1,399.00 3,728.00
2014-09-30 41,939.00 -351.00 3,155.00
2014-06-30 37,320.00 -702.00 2,762.00
2014-03-31 37,143.00 -979.00 2,665.00
2013-12-31 36,455.00 -1,066.00 2,658.00
2013-09-30 35,422.00 -1,028.00 2,747.00
2013-06-30 35,457.00 -1,027.00 2,835.00
2013-03-31 36,733.00 -403.00 2,977.00
2012-12-31 38,923.00 15.00 2,976.00
2012-09-30 41,467.00 166.00 2,840.00
2012-06-30 43,654.00 1,071.00 2,878.00

*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.
  • SSAB has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • SSAB used its assets less efficiently than the SE Metals and Mining industry average last year based on Return on Assets.
  • SSAB has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess SSAB'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.
SSAB has a total score of 4/6, 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.

SSAB A Health

 How is SSAB'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 SSAB's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • SSAB is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • SSAB's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of SSAB'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 2.3x 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 SSAB Company Filings, last reported 1 month ago.

OM:SSAB A Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 62,244.00 16,130.00 4,873.00
2018-12-31 59,515.00 13,216.00 2,598.00
2018-09-30 58,588.00 16,100.00 4,148.00
2018-06-30 58,254.00 16,100.00 2,134.00
2018-03-31 55,321.00 17,776.00 3,862.00
2017-12-31 53,294.00 18,064.00 4,249.00
2017-09-30 52,568.00 21,083.00 4,865.00
2017-06-30 52,693.00 21,837.00 3,687.00
2017-03-31 53,007.00 22,756.00 3,371.00
2016-12-31 52,940.00 23,248.00 3,879.00
2016-09-30 51,731.00 22,862.00 3,801.00
2016-06-30 50,357.00 23,564.00 4,554.00
2016-03-31 43,826.00 27,034.00 2,629.00
2015-12-31 44,441.00 27,111.00 2,711.00
2015-09-30 45,374.00 27,907.00 1,420.00
2015-06-30 45,288.00 28,589.00 2,275.00
2015-03-31 46,283.00 29,212.00 1,848.00
2014-12-31 43,879.00 29,667.00 3,014.00
2014-09-30 43,683.00 31,730.00 6,422.00
2014-06-30 28,173.00 24,467.00 7,465.00
2014-03-31 27,183.00 20,311.00 2,689.00
2013-12-31 27,149.00 18,690.00 2,124.00
2013-09-30 27,284.00 18,840.00 2,193.00
2013-06-30 28,820.00 19,324.00 2,046.00
2013-03-31 28,607.00 19,446.00 2,119.00
2012-12-31 28,769.00 19,424.00 3,004.00
2012-09-30 29,225.00 18,421.00 2,166.00
2012-06-30 31,165.00 19,467.00 1,900.00
  • SSAB's level of debt (25.9%) 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 (74.9% vs 25.9% today).
  • Debt is well covered by operating cash flow (45.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 13.6x coverage).
X
Financial health checks
We assess SSAB'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. SSAB 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.

SSAB A Dividends

 What is SSAB'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
4.8%
Current annual income from SSAB dividends. Estimated to be 5.2% next year.
If you bought SEK2,000 of SSAB shares you are expected to receive SEK96 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?
  • SSAB's pays a higher dividend yield than the bottom 25% of dividend payers in Sweden (1.82%).
  • SSAB's dividend is above the markets top 25% of dividend payers in Sweden (4.39%).
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:SSAB A 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 16 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 3.3%
Sweden Minimum Threshold Dividend Yield 10th Percentile 1.2%
Sweden Bottom 25% Dividend Yield 25th Percentile 1.8%
Sweden Top 25% Dividend Yield 75th Percentile 4.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OM:SSAB A Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.63 10.00
2020-12-31 1.62 16.00
2019-12-31 1.63 16.00
OM:SSAB A Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2019-04-08 1.500 4.385
2018-04-10 1.000 2.566
2014-10-27 0.000 0.000
2014-07-23 0.000 0.000
2014-04-25 0.000 0.000
2014-03-19 0.000 0.000
2014-02-07 0.000 0.000
2013-04-12 1.000 2.207
2012-07-26 2.000 3.890
2012-03-26 2.000 3.409
2011-04-12 2.000 2.893
2010-03-02 1.000 0.919
2010-02-10 1.000 0.843

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

  • SSAB 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 SSAB only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of SSAB's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.2x coverage).
X
Income/ dividend checks
We assess SSAB's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - 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 SSAB afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. SSAB 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.

SSAB A Management

 What is the CEO of SSAB'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
Martin Lindqvist
COMPENSATION SEK0
AGE 56
TENURE AS CEO 8.3 years
CEO Bio

Mr. Martin Lindqvist, B.Sc. (Economics) Eng, M.B.A, has been the Chief Executive Officer and President of SSAB AB since January 01, 2011. Mr. Lindqvist is employed at SSAB since 1998. He has been the Chief Financial Officer at Atrium Ljungberg AB (publ.) since March 23, 2016 and also serves as its Business Area Director. He served as a Group Vice President of Munters AB since March 1, 2009 and also served as its Chief Financial Officer from March 1, 2009 to October 2011. He is the Chief Financial Officer of SSAB AB. He served as the Head of Control & Finance at SSAB AB since 1998 and its Head of EMEA Business Area from October 2009 to January 1, 2011. He is Chief Controller of NCC. He served as a Business Area Manager for operations in Europe, the Middle East and Africa at SSAB. He served as the Head of Strip Products Division at SSAB AB from August 1, 2008 to October 2009. He is the Chairman of Swedish Steel Producers Association. He is a Director of Swedish Association of Industrial Employers. He served as the Chief Financial Officer of SSAB AB until July 31, 2008. He held Various positions within Tetra Pak Sweden and Italy, Trelleborg in Mexico and served as Group Controller of Mercuri Urval Group. He has been the Chairman of Rautaruukki Corporation since August 27, 2014. He has been a Director of Svenska Cellulosa Aktiebolaget SCA (publ) since June 15, 2017. He has been a Director of SSAB AB since April 12, 2011. He served as Director of Indutrade AB (publ) since April 27, 2011. Mr. Lindqvist holds a Bachelor of Science in Economics from University of Uppsala and an M.Sc in Business Administration from Mid Sweden University.

CEO Compensation
  • Insufficient data for Martin to compare compensation growth.
  • Martin's remuneration is lower than average for companies of similar size in Sweden.
Management Team Tenure

Average tenure and age of the SSAB management team in years:

4.6
Average Tenure
54
Average Age
  • The tenure for the SSAB management team is about average.
Management Team

Martin Lindqvist

TITLE
President
AGE
56
TENURE
8.3 yrs

Håkan Folin

TITLE
Executive VP & CFO
AGE
42
TENURE
6 yrs

Martin Pei

TITLE
Executive VP & CTO
AGE
55
TENURE
3.2 yrs

Per Hillström

TITLE
Head of Investor Relations
TENURE
2.4 yrs

Jonas Bergstrand

TITLE
Executive VP
AGE
53
TENURE
3.3 yrs

Viktoria Karsberg

TITLE
Head of Corporate Identity & Communications

Riikka Friman

TITLE
Head of Corporate Identity & Marketing

Maria Långberg

TITLE
Executive VP
AGE
48
TENURE
3.3 yrs

Steve Hansen

TITLE
VP & Chief Technical Officer of SSAB Americas
AGE
68
TENURE
10.9 yrs

Tim Wensits

TITLE
Chief Information Officer & VP of SSAB NAD
TENURE
10.9 yrs
Board of Directors Tenure

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

2.6
Average Tenure
56.5
Average Age
  • The average tenure for the SSAB board of directors is less than 3 years, this suggests a new board.
Board of Directors

Bengt Kjell

TITLE
Chairman
COMPENSATION
SEK2M
AGE
64
TENURE
4.1 yrs

Martin Lindqvist

TITLE
President
AGE
56
TENURE
8.1 yrs

Matti Lievonen

TITLE
Vice Chairman of the Board
COMPENSATION
SEK905K
AGE
60
TENURE
1.3 yrs

Marika Fredriksson

TITLE
Director
COMPENSATION
SEK785K
AGE
55
TENURE
3.1 yrs

Sture Bergvall

TITLE
Employee Representative Director
AGE
62
TENURE
0.3 yrs

Petra Einarsson

TITLE
Director
COMPENSATION
SEK680K
AGE
51
TENURE
4.7 yrs

Tomas Westman

TITLE
Employee Representative Director
AGE
63
TENURE
0.3 yrs

Tomas Karlsson

TITLE
Employee Representative Director
AGE
56
TENURE
4.3 yrs

Pasi Laine

TITLE
Director
COMPENSATION
SEK575K
AGE
55
TENURE
2.1 yrs

Mikael Henriksson

TITLE
Employee Representative Director
AGE
57
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (SEK) Value (SEK)
X
Management checks
We assess SSAB'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. SSAB 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.

SSAB A News

Simply Wall St News

Is There An Opportunity With SSAB AB (publ)'s (STO:SSAB A) 41% Undervaluation?

In this article we are going to estimate the intrinsic value of SSAB AB (publ) (STO:SSAB A) by taking the expected future cash flows and discounting them to their present value. … Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (SEK, Millions) SEK5.04k SEK4.98k SEK5.16k SEK4.75k SEK4.47k SEK4.35k SEK4.27k SEK4.23k SEK4.20k SEK4.19k Growth Rate Estimate Source Analyst x9 Analyst x9 Analyst x6 Analyst x1 Analyst x1 Est @ -2.69% Est @ -1.75% Est @ -1.1% Est @ -0.64% Est @ -0.32% Present Value (SEK, Millions) Discounted @ 8.31% SEK4.65k SEK4.25k SEK4.06k SEK3.45k SEK3.00k SEK2.69k SEK2.44k SEK2.23k SEK2.05k SEK1.88k Present Value of 10-year Cash Flow (PVCF)= SEK30.72b "Est" = FCF growth rate estimated by Simply Wall St After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … OM:SSAB A Intrinsic value, May 21st 2019 Important assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

Here's What SSAB AB (publ)'s (STO:SSAB A) P/E Ratio Is Telling Us

We'll look at SSAB AB (publ)'s (STO:SSAB A) P/E ratio and reflect on what it tells us about the company's share price. … Looking at earnings over the last twelve months, SSAB has a P/E ratio of 8.27. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

What You Must Know About SSAB AB (publ)'s (STO:SSAB A) Financial Health

Mid-caps stocks, like SSAB AB (publ) (STO:SSAB A) with a market capitalization of kr35b, aren’t the focus of most investors who prefer to direct their investments towards either large-cap or small-cap stocks. … SSAB A’s financial liquidity and debt position will be analysed in this article, to get an idea of whether the company can fund opportunities for strategic growth and maintain strength through economic downturns. … See our latest analysis for SSAB

Simply Wall St -

What To Know Before Buying SSAB AB (publ) (STO:SSAB A) For Its Dividend

Dividend paying stocks like SSAB AB (publ) (STO:SSAB A) tend to be popular with investors, and for good reason - some research shows that a significant amount of all stock market returns come from reinvested dividends. … Yet sometimes, investors buy a popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. … In this case, SSAB likely looks attractive to investors, given its 4.1% dividend yield and a payment history of over ten years.

Simply Wall St -

Why Fundamental Investors Might Love SSAB AB (publ) (STO:SSAB A)

SSAB AB (publ) (STO:SSAB A) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … In the case of SSAB A, it.

Simply Wall St -

The SSAB (STO:SSAB A) Share Price Is Down 29% So Some Shareholders Are Getting Worried

We also note that the stock has performed poorly over the last year, with the share price down 29%. … 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). … While it's not completely obvious why the share price is down, a closer look at the company's history might help explain it

Simply Wall St -

What Should You Know About The Future Of SSAB AB (publ)'s (STO:SSAB A)?

Help shape the future of investing tools and receive a $20 prize! … As SSAB AB (publ) (STO:SSAB A) released its earnings announcement on 31 December 2018, … analyst consensus outlook appear cautiously subdued,

Simply Wall St -

SSAB A Company Info

Description

SSAB AB (publ) produces and sells steel products in Sweden. It operates through five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor, and Ruukki Construction. The company offers wear steels for payload and service life; structural steel; pre-hardened tool steel; and protection plates, as well as quenched and tempered steels, and hot-rolled advanced high-strength steel products. It also provides hot-rolled plates, hot-rolled strips, cold-rolled strips, metal-coated strips, color-coated strips, tubes and sections, and infrastructure products. In addition, the company offers heavy plates and coils; engineering steel and long products comprising beams, merchant bars, and hollow sections; stainless steel and non-ferrous metals primarily comprising aluminum and copper; steel roofs, rainwater systems, and accessories for residential construction; and components that include sandwich panels, load-bearing sheets, and façade claddings for non-residential construction. Further, it offers frame solutions used in non-residential buildings; bridges; design and installation services; parts and kits and wear parts; and prefabrication, engineering and processing, and value added services. It also exports its products primarily in Europe. The company markets its steel products under the Strenx, Hardox, Docol, GreenCoat, Toolox, Armox, SSAB Boron, SSAB Domex, SSAB Form, SSAB Laser, SSAB Weathering and Cor-Ten, and SSAB Multisteel brands. It provides its products for customers in the heavy transport, construction building and infrastructure, automotive, industrial, construction machinery, energy, and material handling, as well as service centers. SSAB AB (publ) was founded in 1978 and is headquartered in Stockholm, Sweden.

Details
Name: SSAB AB (publ)
SSAB A
Exchange: OM
Founded: 1978
SEK29,597,859,762
1,029,835,326
Website: http://www.ssab.com
Address: SSAB AB (publ)
Klarabergsviadukten 70, D6,
PO Box 70,
Stockholm,
Stockholm County, 101 21,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM SSAB A Class A Shares OMX Nordic Exchange Stockholm SE SEK 07. Oct 1992
DB SKWA Class A Shares Deutsche Boerse AG DE EUR 07. Oct 1992
LSE 0KII Class A Shares London Stock Exchange GB SEK 07. Oct 1992
HLSE SSABAH Class A Shares OMX Nordic Exchange Helsinki FI EUR 07. Oct 1992
BATS-CHIXE SSABAH Class A Shares BATS 'Chi-X Europe' GB EUR 07. Oct 1992
BATS-CHIXE SSABAS Class A Shares BATS 'Chi-X Europe' GB SEK 07. Oct 1992
OTCPK SSAA.Y UNSPONSORED ADR Pink Sheets LLC US USD 24. Feb 2010
OM SSAB B Class B Shares OMX Nordic Exchange Stockholm SE SEK 19. Aug 1992
LSE 0MHZ Class B Shares London Stock Exchange GB SEK 19. Aug 1992
HLSE SSABBH Class B Shares OMX Nordic Exchange Helsinki FI EUR 19. Aug 1992
BATS-CHIXE SSABBH Class B Shares BATS 'Chi-X Europe' GB EUR 19. Aug 1992
BATS-CHIXE SSABBS Class B Shares BATS 'Chi-X Europe' GB SEK 19. Aug 1992
Number of employees
Current staff
Staff numbers
14,415
SSAB employees.
Industry
Steel
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/26 20:59
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/22
Last earnings filing: 2019/04/25
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.