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ATC

Atotech NYSE:ATC Stock Report

Last Price

US$22.71

Market Cap

US$4.4b

7D

0.5%

1Y

-2.1%

Updated

18 Aug, 2022

Data

Company Financials +

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ATC fundamental analysis
Snowflake Score
Valuation1/6
Future Growth4/6
Past Performance3/6
Financial Health2/6
Dividends0/6

ATC Stock Overview

Atotech Limited, a chemicals technology company, provides specialty electroplating and surface finishing solutions worldwide.

Atotech Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Atotech
Historical stock prices
Current Share PriceUS$22.71
52 Week HighUS$25.95
52 Week LowUS$18.06
Beta0
1 Month Change6.07%
3 Month Change16.05%
1 Year Change-2.07%
3 Year Changen/a
5 Year Changen/a
Change since IPO17.97%

Recent News & Updates

Aug 09

Atotech GAAP EPS of $0.12 misses by $0.02, revenue of $358.1M misses by $15.56M

Atotech press release (NYSE:ATC): Q2 GAAP EPS of $0.12 misses by $0.02. Revenue of $358.1M (-4.9% Y/Y) misses by $15.56M.

Jul 27

Atotech/MKS Instruments spread narrows on report China finalizing its review

The deal spread in MKS Instruments' (NASDAQ:MKSI) planned acquisition of Atotech (NYSE:ATC) narrowed on a report that China's antitrust regulator is finalizing its review of the deal. China's State Administration for Market Regulation is finalizing its review of the combination and approval could come any time, according to traders, who cited a report that's being circulated. The latest updates comes after a report from the same outfit earlier this month said the companies appear to have agreements with third parties in China and there appears to be a path to China approval. In early April the companies agreed to extend the walk date for the transaction to Sept. 30 to allow additional time for the regulatory approval by China. Potential antitrust approval for the ATC/MKSI deal comes after China late last month approved II-VI's purchase of Coherent. MKSI is set to report Q2 results on Wednesday with a conference call on Thursday morning.

Shareholder Returns

ATCUS ChemicalsUS Market
7D0.5%-1.2%-2.5%
1Y-2.1%-15.4%-23.2%

Return vs Industry: ATC exceeded the US Chemicals industry which returned -3.6% over the past year.

Return vs Market: ATC exceeded the US Market which returned -10.7% over the past year.

Price Volatility

Is ATC's price volatile compared to industry and market?
ATC volatility
ATC Average Weekly Movement3.5%
Chemicals Industry Average Movement6.4%
Market Average Movement6.8%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.8%

Stable Share Price: ATC is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: ATC's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
18514,000Geoff Wildhttps://www.atotech.com

Atotech Limited, a chemicals technology company, provides specialty electroplating and surface finishing solutions worldwide. The company operates through two segments, Electronics (EL) and General Metal Finishing (GMF). The EL segment manufactures and supplies chemistry, production equipment, software, and services to the electronics industry, which include printed circuit board manufacturers, package substrate makers, and semiconductor companies.

Atotech Fundamentals Summary

How do Atotech's earnings and revenue compare to its market cap?
ATC fundamental statistics
Market CapUS$4.42b
Earnings (TTM)US$120.80m
Revenue (TTM)US$1.49b

36.6x

P/E Ratio

3.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ATC income statement (TTM)
RevenueUS$1.49b
Cost of RevenueUS$739.40m
Gross ProfitUS$746.20m
Other ExpensesUS$625.40m
EarningsUS$120.80m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.62
Gross Margin50.23%
Net Profit Margin8.13%
Debt/Equity Ratio185.0%

How did ATC perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • 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 ATC?

Other financial metrics that can be useful for relative valuation.

ATC 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/Revenue3.8x
Enterprise Value/EBITDA16.5x
PEG Ratio1.4x

Price to Earnings Ratio vs Peers

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

ATC PE Ratio vs Peers
The above table shows the PE ratio for ATC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average35.9x
BCPC Balchem
35.9x10.4%US$3.9b
ESI Element Solutions
24.8x29.7%US$4.0b
LTHM Livent
50.8x17.5%US$5.5b
FUL H.B. Fuller
17.5x15.3%US$3.2b
ATC Atotech
36.6x25.6%US$4.4b

Price-To-Earnings vs Peers: ATC is expensive based on its Price-To-Earnings Ratio (36.6x) compared to the peer average (35.9x).


Price to Earnings Ratio vs Industry

How does ATC's PE Ratio compare vs other companies in the US Chemicals Industry?

Price-To-Earnings vs Industry: ATC is expensive based on its Price-To-Earnings Ratio (36.6x) compared to the US Chemicals industry average (15.5x)


Price to Earnings Ratio vs Fair Ratio

What is ATC'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.

ATC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio36.6x
Fair PE Ratio25.1x

Price-To-Earnings vs Fair Ratio: ATC is expensive based on its Price-To-Earnings Ratio (36.6x) compared to the estimated Fair Price-To-Earnings Ratio (25.1x).


Share Price vs Fair Value

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

Below Fair Value: ATC ($22.71) is trading below our estimate of fair value ($25.84)

Significantly Below Fair Value: ATC is trading below fair value, but not by a significant amount.


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 less than 20% higher than the current share price.


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Future Growth

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

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


25.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ATC's forecast earnings growth (25.6% per year) is above the savings rate (1.9%).

Earnings vs Market: ATC's earnings (25.6% per year) are forecast to grow faster than the US market (14.2% per year).

High Growth Earnings: ATC's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ATC's revenue (7.4% per year) is forecast to grow slower than the US market (7.7% per year).

High Growth Revenue: ATC's revenue (7.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ATC's Return on Equity is forecast to be high in 3 years time (24.3%)


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Past Performance

How has Atotech performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


26.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ATC has high quality earnings.

Growing Profit Margin: ATC became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: ATC has become profitable over the past 5 years, growing earnings by 26.6% per year.

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

Earnings vs Industry: ATC has become profitable in the last year, making it difficult to compare its past year earnings growth to the Chemicals industry (20.9%).


Return on Equity

High ROE: ATC's Return on Equity (14.6%) is considered low.


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Financial Health

How is Atotech's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: ATC's short term assets ($907.3M) exceed its short term liabilities ($478.4M).

Long Term Liabilities: ATC's short term assets ($907.3M) do not cover its long term liabilities ($2.0B).


Debt to Equity History and Analysis

Debt Level: ATC's net debt to equity ratio (142.1%) is considered high.

Reducing Debt: Insufficient data to determine if ATC's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: ATC's debt is not well covered by operating cash flow (14.6%).

Interest Coverage: ATC's interest payments on its debt are well covered by EBIT (7.3x coverage).


Balance Sheet


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Dividend

What is Atotech current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Atotech Dividend Yield vs Market
How does Atotech dividend yield compare to the market?
SegmentDividend Yield
Company (Atotech)n/a
Market Bottom 25% (US)1.7%
Market Top 25% (US)4.7%
Industry Average (Chemicals)2.4%
Analyst forecast in 3 Years (Atotech)0%

Notable Dividend: Unable to evaluate ATC's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate ATC'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 ATC's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ATC's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as ATC has not reported any payouts.


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Management

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

2.6yrs

Average board tenure


CEO

Geoff Wild (66 yo)

no data

Tenure

US$3,750,665

Compensation

Mr. Geoffrey Wild, also known as Geoff, serves as the President, Director and Chief Executive Officer at Atotech Limited since March 2017. He served as the Chief Executive Officer of AZ Electronic Material...


Board Members

Experienced Board: ATC's board of directors are not considered experienced ( 2.6 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.


Ownership Breakdown

What is the ownership structure of ATC?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders4,073,5802.1%
General Public7,270,0353.7%
Institutions29,707,16415.3%
VC/PE Firms153,672,70378.9%

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


Top Shareholders

Top 25 shareholders own 92.44% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
78.92%
The Carlyle Group Inc.
153,672,703$3.5b0%29.81%
1.74%
Versor Investments LP
3,382,679$76.8m-1.76%3.07%
1.27%
Magnetar Capital, LLC
2,471,299$56.1m-6.75%0.71%
1.21%
Millennium Management LLC
2,349,941$53.4m36.8%0.06%
0.98%
Geoffrey Wild
1,916,800$43.5m0%no data
0.8%
Westchester Capital Management, LLC
1,560,071$35.4m0%1.3%
0.74%
AllianceBernstein L.P.
1,441,436$32.7m135.77%0.01%
0.69%
Grantham Mayo Van Otterloo & Co. LLC
1,341,911$30.5m2085.02%0.1%
0.52%
Goldman Sachs Group, Investment Banking and Securities Investments
1,013,823$23.0m-11.56%0.01%
0.51%
Adage Capital Management, L.P.
992,170$22.5m67.63%0.05%
0.47%
AQR Arbitrage, LLC
906,293$20.6m-1.31%0.64%
0.45%
Peter Frauenknecht
871,273$19.8m0%no data
0.45%
Principal Global Investors, LLC
867,600$19.7m-2.68%0.01%
0.44%
Water Island Capital, LLC
853,462$19.4m-25.84%1.16%
0.36%
Woodline Partners LP
696,778$15.8m274.61%0.23%
0.36%
State of Wisconsin Investment Board
693,000$15.7m489.79%0.04%
0.32%
Renaissance Technologies LLC
629,400$14.3m21.69%0.02%
0.31%
Harald Ahnert
609,891$13.9m0%no data
0.31%
Gertjan van der Wal
609,891$13.9m0%no data
0.3%
TIG Advisors, LLC
588,228$13.4m49.55%0.59%
0.29%
Alpine Associates Advisors
556,635$12.6m-10.11%0.58%
0.28%
Balyasny Asset Management L.P.
538,103$12.2m0%0.05%
0.25%
Assenagon Asset Management S.A.
484,549$11.0m0%0.03%
0.25%
JPMorgan Chase & Co, Brokerage and Securities Investments
478,230$10.9m-39.96%0.01%
0.24%
UBS Asset Management
470,257$10.7m-1.87%no data

Company Information

Atotech Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Atotech Limited
  • Ticker: ATC
  • Exchange: NYSE
  • Founded: 1851
  • Industry: Specialty Chemicals
  • Sector: Materials
  • Implied Market Cap: US$4.422b
  • Shares outstanding: 194.72m
  • Website: https://www.atotech.com

Number of Employees


Location

  • Atotech Limited
  • Erasmusstrasse 20
  • Berlin
  • Berlin
  • 10553
  • Germany


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ATCNYSE (New York Stock Exchange)YesCommon SharesUSUSDFeb 2021

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/18 00:00
End of Day Share Price2022/08/16 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.