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, 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?
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.
The above table shows the n/a ratio for HAYN. This is calculated by dividing HAYN's market cap by their current
preferred multiple.
What is HAYN's n/a Ratio?
n/a Ratio
0x
n/a
n/a
Market Cap
US$516.15m
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.
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 Ratio
16.7x
Fair PE Ratio
17.1x
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.
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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
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.
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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
All financial data provided by Standard & Poor's Capital IQ.
Data
Last Updated (UTC time)
Company Analysis
2022/08/06 00:00
End of Day Share Price
2022/08/05 00:00
Earnings
2022/06/30
Annual Earnings
2021/09/30
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.