Haynes International
Market Cap
US$284.8m
Last Updated
2020/05/30 03:06 UTC
Data Sources
Company Financials +
Executive Summary
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.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -25.8% per year for the next 3 years
Snowflake Analysis
Flawless balance sheet with proven track record and pays a dividend.
Similar Companies
Share Price & News
How has Haynes International's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: HAYN has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
2.1%
HAYN
0.6%
US Metals and Mining
2.7%
US Market
1 Year Return
-21.6%
HAYN
9.4%
US Metals and Mining
9.1%
US Market
Return vs Industry: HAYN underperformed the US Metals and Mining industry which returned 9.4% over the past year.
Return vs Market: HAYN underperformed the US Market which returned 9.1% over the past year.
Shareholder returns
| HAYN | Industry | Market | |
|---|---|---|---|
| 7 Day | 2.1% | 0.6% | 2.7% |
| 30 Day | 3.3% | 4.1% | 4.5% |
| 90 Day | -9.8% | 8.9% | 2.3% |
| 1 Year | -19.1%-21.6% | 12.1%9.4% | 11.5%9.1% |
| 3 Year | -32.4%-37.7% | 5.7%-1.1% | 30.6%22.0% |
| 5 Year | -44.7%-51.4% | 20.7%10.5% | 57.2%39.5% |
Price Volatility Vs. Market
How volatile is Haynes International's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 months ago | Simply Wall St
Imagine Owning Haynes International (NASDAQ:HAYN) While The Price Tanked 51%3 months ago | Simply Wall St
Haynes International, Inc. (NASDAQ:HAYN) Looks Like A Good Stock, And It's Going Ex-Dividend Soon3 months ago | Simply Wall St
Earnings Report: Haynes International, Inc. Missed Revenue Estimates By 12%Valuation
Is Haynes International undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: HAYN ($22.83) is trading below our estimate of fair value ($65.35)
Significantly Below Fair Value: HAYN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: HAYN is poor value based on its PE Ratio (16.6x) compared to the Metals and Mining industry average (8.5x).
PE vs Market: HAYN is poor value based on its PE Ratio (16.6x) compared to the US market (15.9x).
Price to Earnings Growth Ratio
PEG Ratio: HAYN's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: HAYN is good value based on its PB Ratio (0.9x) compared to the US Metals and Mining industry average (1.3x).
Next Steps
Future Growth
How is Haynes International forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
-25.8%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: HAYN's earnings are forecast to decline over the next 3 years (-25.8% per year).
Earnings vs Market: HAYN's earnings are forecast to decline over the next 3 years (-25.8% per year).
High Growth Earnings: HAYN's earnings are forecast to decline over the next 3 years.
Revenue vs Market: HAYN's revenue is expected to decline over the next 3 years (-6.5% per year).
High Growth Revenue: HAYN's revenue is forecast to decline over the next 3 years (-6.5% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if HAYN's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Haynes International performed over the past 5 years?
-31.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: HAYN has high quality earnings.
Growing Profit Margin: HAYN's current net profit margins (3.6%) are higher than last year (0.6%).
Past Earnings Growth Analysis
Earnings Trend: HAYN's earnings have declined by -31.5% per year over the past 5 years.
Accelerating Growth: HAYN's earnings growth over the past year (532.3%) exceeds its 5-year average (-31.5% per year).
Earnings vs Industry: HAYN earnings growth over the past year (532.3%) exceeded the Metals and Mining industry -12.4%.
Return on Equity
High ROE: HAYN's Return on Equity (5.7%) is considered low.
Next Steps
Financial Health
How is Haynes International's financial position?
Financial Position Analysis
Short Term Liabilities: HAYN's short term assets ($403.5M) exceed its short term liabilities ($82.9M).
Long Term Liabilities: HAYN's short term assets ($403.5M) exceed its long term liabilities ($236.2M).
Debt to Equity History and Analysis
Debt Level: HAYN's debt to equity ratio (9.9%) 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 debt is well covered by operating cash flow (106%).
Interest Coverage: HAYN's interest payments on its debt are well covered by EBIT (25.5x coverage).
Balance Sheet
Next Steps
Dividend
What is Haynes International's current dividend yield, its reliability and sustainability?
3.85%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: HAYN's dividend (3.85%) is higher than the bottom 25% of dividend payers in the US market (1.69%).
High Dividend: HAYN's dividend (3.85%) is low compared to the top 25% of dividend payers in the US market (4.48%).
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 increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (64%), HAYN's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
8.1yrs
Average management tenure
CEO
Michael Shor (59yo)
2yrs
Tenure
US$2,419,118
Compensation
Mr. Michael L. Shor has been Chief Executive Officer and President at Haynes International, Inc. since September 1, 2018. Mr. Shor served as Chairman of the Board at Haynes International, Inc. since Februa ...
CEO Compensation Analysis
Compensation vs Market: Michael's total compensation ($USD2.42M) is above average for companies of similar size in the US market ($USD1.38M).
Compensation vs Earnings: Michael's compensation has increased by more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 2yrs | US$2.42m | 0.30% $851.9k | |
| VP of Finance | 7.42yrs | US$921.53k | 0.10% $294.4k | |
| Vice President of Operations | 1.67yrs | US$655.61k | 0.038% $109.2k | |
| Vice President of Marketing & Technology | 10.33yrs | US$912.98k | 0.087% $247.6k | |
| Vice President of Sales & Distribution | 10.33yrs | US$863.88k | 0.13% $370.5k | |
| Controller & Chief Accounting Officer | 7.42yrs | no data | 0.052% $149.2k | |
| VP & Chief Information Officer | 1.33yrs | no data | 0.017% $49.4k | |
| VP, General Counsel & Corporate Secretary | 8.75yrs | no data | 0.065% $186.4k | |
| Vice President of Corporate Affairs | 20.08yrs | no data | 0.11% $324.6k | |
| Vice President of Tube & Wire Products | 16.17yrs | US$601.73k | 0.13% $356.7k |
8.1yrs
Average Tenure
58yo
Average Age
Experienced Management: HAYN's management team is seasoned and experienced (8.1 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 2yrs | US$2.42m | 0.30% $851.9k | |
| Independent Chairman of the Board | 1.67yrs | US$204.48k | 0.20% $563.6k | |
| Independent Director | 15.75yrs | US$200.73k | 0.18% $516.5k | |
| Independent Director | 2.83yrs | US$193.80k | 0.083% $236.7k | |
| Independent Director | 0.33yr | no data | 0.021% $59.0k |
2.8yrs
Average Tenure
61yo
Average Age
Experienced Board: HAYN's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.
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.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Haynes International, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Haynes International, Inc.
- Ticker: HAYN
- Exchange: NasdaqGS
- Founded: 1912
- Industry: Steel
- Sector: Materials
- Market Cap: US$284.773m
- Shares outstanding: 12.47m
- 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
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| HAYN | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock Par Value 0.001 | US | USD | Sep 2004 |
| HYVN | DB (Deutsche Boerse AG) | Yes | Common Stock Par Value 0.001 | DE | EUR | Sep 2004 |
Biography
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 waste incineration; and industrial heating equipment. The company’s CRA products are used in various applications, including chemical processing, power plant emissions control, and hazardous waste treatment. Its products also have applications in flue-gas desulfurization, oil and gas, waste incineration, industrial heat treating, automotive, instrumentation, biopharmaceuticals, and solar and nuclear fuel industries. In addition, the company produces products as seamless and welded tubulars, as well as in slab, bar, billet, and wire forms. It sells its products primarily through direct sales organizations, and network of independent distributors and sales agents. Haynes International, Inc. was founded in 1912 and is headquartered in Kokomo, Indiana.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/05/30 03:06 |
| End of Day Share Price | 2020/05/29 00:00 |
| Earnings | 2020/03/31 |
| Annual Earnings | 2019/09/30 |
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.