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HAYN

Haynes International NasdaqGS:HAYN Stock Report

Last Price

US$41.83

Market Cap

US$516.1m

7D

8.2%

1Y

12.2%

Updated

06 Aug, 2022

Data

Company Financials +
HAYN fundamental analysis
Snowflake Score
Valuation3/6
Future Growth3/6
Past Performance2/6
Financial Health5/6
Dividends3/6

HAYN Stock Overview

Haynes International, Inc. develops, manufactures, markets, and distributes nickel and cobalt-based alloys in sheet, coil, and plate forms in the United States, Europe, Asia, and internationally.

Haynes International Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Haynes International
Historical stock prices
Current Share PriceUS$41.83
52 Week HighUS$49.76
52 Week LowUS$29.00
Beta1.4
1 Month Change33.73%
3 Month Change11.61%
1 Year Change12.24%
3 Year Change43.55%
5 Year Change40.75%
Change since IPO209.85%

Recent News & Updates

Aug 01
We Like These Underlying Return On Capital Trends At Haynes International (NASDAQ:HAYN)

We Like These Underlying Return On Capital Trends At Haynes International (NASDAQ:HAYN)

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...

Shareholder Returns

HAYNUS Metals and MiningUS Market
7D8.2%-0.8%1.0%
1Y12.2%-12.3%-12.8%

Return vs Industry: HAYN exceeded the US Metals and Mining industry which returned -12.3% over the past year.

Return vs Market: HAYN exceeded the US Market which returned -12.8% over the past year.

Price Volatility

Is HAYN's price volatile compared to industry and market?
HAYN volatility
HAYN Average Weekly Movement7.3%
Metals and Mining Industry Average Movement10.0%
Market Average Movement8.1%
10% most volatile stocks in US Market17.3%
10% least volatile stocks in US Market3.2%

Stable Share Price: HAYN is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: HAYN's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19121,092Michael Shorhttps://www.haynesintl.com

Haynes International, Inc. develops, manufactures, markets, and distributes nickel and cobalt-based alloys in sheet, coil, and plate forms in the United States, Europe, Asia, and internationally. The company offers high-temperature resistant alloys (HTA) and corrosion-resistant alloys (CRA). Its HTA products are used by manufacturers of equipment, including jet engines for the aerospace market; gas turbine engines for power generation; and industrial heating equipment.

Haynes International Fundamentals Summary

How do Haynes International's earnings and revenue compare to its market cap?
HAYN fundamental statistics
Market CapUS$516.15m
Earnings (TTM)US$30.98m
Revenue (TTM)US$441.93m

16.7x

P/E Ratio

1.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
HAYN income statement (TTM)
RevenueUS$441.93m
Cost of RevenueUS$350.82m
Gross ProfitUS$91.11m
Other ExpensesUS$60.13m
EarningsUS$30.98m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)2.51
Gross Margin20.62%
Net Profit Margin7.01%
Debt/Equity Ratio13.1%

How did HAYN perform over the long term?

See historical performance and comparison

Dividends

2.1%

Current Dividend Yield

35%

Payout Ratio

Does HAYN pay a reliable dividends?

See HAYN dividend history and benchmarks
When do you need to buy HAYN by to receive an upcoming dividend?
Haynes International dividend dates
Ex Dividend DateAug 31 2022
Dividend Pay DateSep 15 2022
Days until Ex dividend24 days
Days until Dividend pay date39 days

Does HAYN pay a reliable dividends?

See HAYN dividend history and benchmarks
We’ve recently updated our valuation analysis.

Valuation

Is HAYN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HAYN?

Other financial metrics that can be useful for relative valuation.

HAYN key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.3x
Enterprise Value/EBITDA8.8x
PEG Ratio0.8x

Price to Earnings Ratio vs Peers

How does HAYN's PE Ratio compare to its peers?

HAYN PE Ratio vs Peers
The above table shows the PE ratio for HAYN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average4.8x
SXC SunCoke Energy
6.8x-17.5%US$567.9m
METC Ramaco Resources
6.4x-33.6%US$493.6m
TMST TimkenSteel
3.5x-35.3%US$772.6m
ZEUS Olympic Steel
2.4x-31.3%US$342.0m
HAYN Haynes International
16.7x19.7%US$516.1m

Price-To-Earnings vs Peers: HAYN is expensive based on its Price-To-Earnings Ratio (16.7x) compared to the peer average (4.8x).


Price to Earnings Ratio vs Industry

How does HAYN's PE Ratio compare vs other companies in the US Metals and Mining Industry?

Price-To-Earnings vs Industry: HAYN is expensive based on its Price-To-Earnings Ratio (16.7x) compared to the US Metals and Mining industry average (8.8x)


Price to Earnings Ratio vs Fair Ratio

What is HAYN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HAYN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.7x
Fair PE Ratio17.1x

Price-To-Earnings vs Fair Ratio: HAYN is good value based on its Price-To-Earnings Ratio (16.7x) compared to the estimated Fair Price-To-Earnings Ratio (17.1x).


Share Price vs Fair Value

What is the Fair Price of HAYN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HAYN ($41.83) is trading below our estimate of fair value ($102.81)

Significantly Below Fair Value: HAYN is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.


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Future Growth

How is Haynes International forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


19.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HAYN's forecast earnings growth (19.7% per year) is above the savings rate (1.9%).

Earnings vs Market: HAYN's earnings (19.7% per year) are forecast to grow faster than the US market (12.8% per year).

High Growth Earnings: HAYN's earnings are forecast to grow, but not significantly.

Revenue vs Market: HAYN's revenue (9.7% per year) is forecast to grow faster than the US market (7.9% per year).

High Growth Revenue: HAYN's revenue (9.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: HAYN's Return on Equity is forecast to be low in 3 years time (12.3%).


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Past Performance

How has Haynes International performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


34.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: HAYN has a high level of non-cash earnings.

Growing Profit Margin: HAYN became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: HAYN has become profitable over the past 5 years, growing earnings by 34.7% per year.

Accelerating Growth: HAYN has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: HAYN has become profitable in the last year, making it difficult to compare its past year earnings growth to the Metals and Mining industry (65.6%).


Return on Equity

High ROE: HAYN's Return on Equity (8.8%) is considered low.


Discover strong past performing companies

Financial Health

How is Haynes International's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: HAYN's short term assets ($437.7M) exceed its short term liabilities ($138.6M).

Long Term Liabilities: HAYN's short term assets ($437.7M) exceed its long term liabilities ($121.8M).


Debt to Equity History and Analysis

Debt Level: HAYN's net debt to equity ratio (10.5%) is considered satisfactory.

Reducing Debt: HAYN had negative shareholder equity 5 years ago, but is now positive and has therefore improved.

Debt Coverage: HAYN's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: HAYN's interest payments on its debt are well covered by EBIT (24.2x coverage).


Balance Sheet


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Dividend

What is Haynes International current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


2.10%

Current Dividend Yield

Upcoming Dividend Payment

TodayAug 07 2022Ex Dividend DateAug 31 2022Dividend Pay DateSep 15 202215 days from Ex DividendBuy in the next 24 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: HAYN's dividend (2.1%) is higher than the bottom 25% of dividend payers in the US market (1.52%).

High Dividend: HAYN's dividend (2.1%) is low compared to the top 25% of dividend payers in the US market (4.09%).


Stability and Growth of Payments

Stable Dividend: HAYN's dividends per share have been stable in the past 10 years.

Growing Dividend: HAYN's dividend payments have not increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (35.2%), HAYN's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: HAYN is paying a dividend but the company has no free cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

9.7yrs

Average management tenure


CEO

Michael Shor (62 yo)

4.25yrs

Tenure

US$2,491,682

Compensation

Mr. Michael L. Shor has been Chief Executive Officer and President at Haynes International, Inc. since September 01, 2018. Mr. Shor served as Chairman of the Board at Haynes International, Inc. since Febru...


CEO Compensation Analysis

Compensation vs Market: Michael's total compensation ($USD2.49M) is about average for companies of similar size in the US market ($USD2.70M).

Compensation vs Earnings: Michael's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: HAYN's management team is seasoned and experienced (9.7 years average tenure).


Board Members

Experienced Board: HAYN's board of directors are seasoned and experienced ( 10 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

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


Top Shareholders

Company Information

Haynes International, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Haynes International, Inc.
  • Ticker: HAYN
  • Exchange: NasdaqGS
  • Founded: 1912
  • Industry: Steel
  • Sector: Materials
  • Implied Market Cap: US$516.146m
  • Shares outstanding: 12.34m
  • Website: https://www.haynesintl.com

Number of Employees


Location

  • Haynes International, Inc.
  • 1020 West Park Avenue
  • PO Box 9013
  • Kokomo
  • Indiana
  • 46904
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/06 00:00
End of Day Share Price2022/08/05 00:00
Earnings2022/06/30
Annual Earnings2021/09/30


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.