Loading...

Orion Engineered Carbons

NYSE:OEC
Snowflake Description

Solid track record average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
OEC
NYSE
$1B
Market Cap
  1. Home
  2. US
  3. Materials
Company description

Orion Engineered Carbons S.A., together with its subsidiaries, produces and sells carbon black products in Germany, the United States, South Korea, Brazil, China, South Africa, the rest of Europe, and internationally. The last earnings update was 47 days ago. More info.


Add to Portfolio Compare Print
  • Orion Engineered Carbons has significant price volatility in the past 3 months.
OEC Share Price and Events
7 Day Returns
-0.6%
NYSE:OEC
-0.3%
US Chemicals
-0.1%
US Market
1 Year Returns
-26.3%
NYSE:OEC
-5.8%
US Chemicals
7.6%
US Market
OEC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Orion Engineered Carbons (OEC) -0.6% 13.7% -19.1% -26.3% 48.4% -
US Chemicals -0.3% -1% 1.5% -5.8% 19% 15.8%
US Market -0.1% 3.7% 10.2% 7.6% 38.1% 46.4%
1 Year Return vs Industry and Market
  • OEC underperformed the Chemicals industry which returned -5.8% over the past year.
  • OEC underperformed the Market in United States of America which returned 7.6% over the past year.
Price Volatility
OEC
Industry
5yr Volatility vs Market
Related Companies

OEC Value

 Is Orion Engineered Carbons 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 Orion Engineered Carbons 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 Orion Engineered Carbons.

NYSE:OEC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

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 NYSE:OEC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Chemicals Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.924 (1 + (1- 26.01%) (54.24%))
1.197
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.197 * 5.96%)
9.87%

Discounted Cash Flow Calculation for NYSE:OEC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Orion Engineered Carbons 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.

NYSE:OEC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.87%)
2019 103.62 Analyst x2 94.32
2020 111.78 Analyst x2 92.60
2021 90.00 Analyst x1 67.86
2022 77.13 Est @ -14.3% 52.94
2023 70.04 Est @ -9.19% 43.75
2024 66.11 Est @ -5.61% 37.59
2025 64.05 Est @ -3.11% 33.15
2026 63.18 Est @ -1.36% 29.76
2027 63.10 Est @ -0.13% 27.05
2028 63.56 Est @ 0.73% 24.80
Present value of next 10 years cash flows $503.83
NYSE:OEC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $63.56 × (1 + 2.73%) ÷ (9.87% – 2.73%)
$914.86
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $914.86 ÷ (1 + 9.87%)10
$357.02
NYSE:OEC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $503.83 + $357.02
$860.85
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $860.85 / 60.04
$14.34
NYSE:OEC Discount to Share Price
Calculation Result
Value per share (USD) From above. $14.34
Current discount Discount to share price of $21.03
= -1 x ($21.03 - $14.34) / $14.34
-46.7%

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

  • The current share price of Orion Engineered Carbons is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Orion Engineered Carbons's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Orion Engineered Carbons's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:OEC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $2.04
NYSE:OEC Share Price ** NYSE (2019-04-23) in USD $21.03
United States of America Chemicals Industry PE Ratio Median Figure of 66 Publicly-Listed Chemicals Companies 18.74x
United States of America Market PE Ratio Median Figure of 3,080 Publicly-Listed Companies 18.03x

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

** Primary Listing of Orion Engineered Carbons.

NYSE:OEC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:OEC Share Price ÷ EPS (both in USD)

= 21.03 ÷ 2.04

10.33x

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

  • Orion Engineered Carbons is good value based on earnings compared to the US Chemicals industry average.
  • Orion Engineered Carbons is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Orion Engineered Carbons's expected growth come at a high price?
Raw Data
NYSE:OEC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.33x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
0.6%per year
United States of America Chemicals Industry PEG Ratio Median Figure of 46 Publicly-Listed Chemicals Companies 1.56x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.55x

*Line of best fit is calculated by linear regression .

NYSE:OEC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.33x ÷ 0.6%

17.16x

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

  • Orion Engineered Carbons is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Orion Engineered Carbons's assets?
Raw Data
NYSE:OEC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $2.67
NYSE:OEC Share Price * NYSE (2019-04-23) in USD $21.03
United States of America Chemicals Industry PB Ratio Median Figure of 91 Publicly-Listed Chemicals Companies 2.26x
United States of America Market PB Ratio Median Figure of 5,185 Publicly-Listed Companies 1.92x
NYSE:OEC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:OEC Share Price ÷ Book Value per Share (both in USD)

= 21.03 ÷ 2.67

7.88x

* Primary Listing of Orion Engineered Carbons.

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

  • Orion Engineered Carbons is overvalued based on assets compared to the US Chemicals industry average.
X
Value checks
We assess Orion Engineered Carbons'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 Chemicals 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 Chemicals industry average (and greater than 0)? (1 check)
  5. Orion Engineered Carbons has a total score of 2/6, 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.

OEC Future Performance

 How is Orion Engineered Carbons expected to perform in the next 1 to 3 years based on estimates from 6 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
0.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Orion Engineered Carbons expected to grow at an attractive rate?
  • Orion Engineered Carbons's earnings growth is positive but not above the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Orion Engineered Carbons's earnings growth is positive but not above the United States of America market average.
  • Orion Engineered Carbons's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:OEC Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:OEC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 0.6%
NYSE:OEC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 3.1%
United States of America Chemicals Industry Earnings Growth Rate Market Cap Weighted Average 12.3%
United States of America Chemicals Industry Revenue Growth Rate Market Cap Weighted Average 2.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.5%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*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
NYSE:OEC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:OEC Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,810 1
2022-12-31 1,767 1
2021-12-31 1,749 240 4
2020-12-31 1,705 225 123 6
2019-12-31 1,624 218 105 6
NYSE:OEC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,578 122 121
2018-09-30 1,571 144 128
2018-06-30 1,518 157 120
2018-03-31 1,533 196 90
2017-12-31 1,328 148 65
2017-09-30 1,315 170 72
2017-06-30 1,265 177 52
2017-03-31 1,162 167 50
2016-12-31 1,139 177 50
2016-09-30 1,140 236 31
2016-06-30 1,147 217 48
2016-03-31 1,216 227 47

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Orion Engineered Carbons's earnings are expected to grow by 0.6% yearly, however this is not considered high growth (20% yearly).
  • Orion Engineered Carbons's revenue is expected to grow by 3.1% yearly, however this is not considered high growth (20% yearly).
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
NYSE:OEC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Orion Engineered Carbons Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:OEC Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 2.04 2.05 2.03 2.00
2019-12-31 1.78 1.80 1.75 2.00
NYSE:OEC Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 2.04
2018-09-30 2.16
2018-06-30 2.01
2018-03-31 1.51
2017-12-31 1.09
2017-09-30 1.22
2017-06-30 0.88
2017-03-31 0.85
2016-12-31 0.83
2016-09-30 0.52
2016-06-30 0.81
2016-03-31 0.79

*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.
  • Orion Engineered Carbons is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Orion Engineered Carbons'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 United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America 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.
Orion Engineered Carbons 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.

OEC Past Performance

  How has Orion Engineered Carbons 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 Orion Engineered Carbons's growth in the last year to its industry (Chemicals).
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.
  • Orion Engineered Carbons has delivered over 20% year on year earnings growth in the past 5 years.
  • Orion Engineered Carbons's 1-year earnings growth exceeds its 5-year average (87% vs 60.1%)
  • Orion Engineered Carbons's earnings growth has exceeded the US Chemicals industry average in the past year (87% vs 23.1%).
Earnings and Revenue History
Orion Engineered Carbons'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 Orion Engineered Carbons Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:OEC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,578.20 121.31 231.92 20.32
2018-09-30 1,571.36 128.32 232.67 19.95
2018-06-30 1,518.09 119.64 227.57 19.81
2018-03-31 1,532.94 89.74 236.42 20.68
2017-12-31 1,328.30 64.86 207.49 18.16
2017-09-30 1,315.14 72.38 213.32 17.80
2017-06-30 1,265.15 52.10 211.05 17.16
2017-03-31 1,162.22 50.24 201.50 15.91
2016-12-31 1,139.29 49.51 204.16 16.07
2016-09-30 1,139.98 30.91 202.84 15.28
2016-06-30 1,147.38 48.19 195.90 13.77
2016-03-31 1,215.90 47.25 198.85 14.75
2015-12-31 1,207.47 46.56 186.47 14.56
2015-09-30 1,303.77 36.91 187.15 15.78
2015-06-30 1,358.28 -22.01 182.54 16.66
2015-03-31 1,373.30 -43.81 171.97 15.20
2014-12-31 1,595.83 -67.71 188.67 15.68
2014-09-30 1,657.63 -81.51 193.14 14.78
2014-06-30 1,806.65 -25.10 204.12 14.76
2014-03-31 1,831.17 -17.73 200.62 13.09
2013-12-31 1,844.83 -26.10 201.20 13.89
2012-12-31 1,842.61 -24.68 199.64 12.53

*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.
  • Whilst Orion Engineered Carbons made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.
  • Orion Engineered Carbons used its assets more efficiently than the US Chemicals industry average last year based on Return on Assets.
  • Orion Engineered Carbons has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Orion Engineered Carbons'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 Chemicals 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.
Orion Engineered Carbons has a total score of 5/6, 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.

OEC Health

 How is Orion Engineered Carbons'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 Orion Engineered Carbons's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Orion Engineered Carbons is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Orion Engineered Carbons's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Orion Engineered Carbons'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 not covered by short term assets, assets are 0.8x 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 Orion Engineered Carbons Company Filings, last reported 3 months ago.

NYSE:OEC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 158.90 684.77 69.59
2018-09-30 147.07 658.75 58.05
2018-06-30 130.81 664.44 76.34
2018-03-31 103.66 705.82 62.77
2017-12-31 95.31 687.17 76.17
2017-09-30 75.47 676.78 68.94
2017-06-30 72.28 659.87 58.98
2017-03-31 75.01 641.80 51.88
2016-12-31 55.82 652.44 81.26
2016-09-30 50.38 685.61 76.88
2016-06-30 59.50 696.79 76.19
2016-03-31 51.82 707.60 69.09
2015-12-31 53.96 711.47 74.25
2015-09-30 57.90 771.32 121.81
2015-06-30 70.72 771.43 126.79
2015-03-31 82.71 759.09 130.69
2014-12-31 66.89 815.87 86.40
2014-09-30 117.73 12.09 111.39
2014-06-30 -97.92 418.98 60.08
2014-03-31 -102.20 364.71 120.07
2013-12-31 -102.25 1,091.83 97.31
2012-12-31 4.26 1,059.26 99.06
  • Orion Engineered Carbons's level of debt (431%) compared to net worth is high (greater than 40%).
  • Orion Engineered Carbons had negative shareholder equity 5 years ago, it is now positive therefore their debt level has improved.
  • Debt is not well covered by operating cash flow (17.8%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7.6x coverage).
X
Financial health checks
We assess Orion Engineered Carbons'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. Orion Engineered Carbons has a total score of 3/6, 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.

OEC Dividends

 What is Orion Engineered Carbons'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
3.8%
Current annual income from Orion Engineered Carbons dividends. Estimated to be 4.12% next year.
If you bought $2,000 of Orion Engineered Carbons shares you are expected to receive $76 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?
  • Orion Engineered Carbons's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • Orion Engineered Carbons's dividend is above the markets top 25% of dividend payers in United States of America (3.64%).
Upcoming dividend payment

Purchase Orion Engineered Carbons before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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
NYSE:OEC 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 6 Analyst Estimates (S&P Global) See Below
United States of America Chemicals Industry Average Dividend Yield Market Cap Weighted Average of 55 Stocks 2.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

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

NYSE:OEC Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.93 3.00
2020-12-31 0.86 4.00
2019-12-31 0.83 4.00
NYSE:OEC Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-01 0.800 3.860
2018-09-27 0.800 3.031
2018-06-28 0.800 2.422
2018-03-01 0.800 2.806
2017-12-12 0.791 3.029
2017-06-29 0.764 3.565
2017-05-24 0.750 4.095
2017-03-02 0.709 3.703
2016-12-15 0.700 3.513
2016-09-12 0.701 3.918
2016-05-26 0.740 4.495
2016-02-25 0.730 5.402
2015-12-15 0.719 6.233
2015-09-10 0.709 5.417
2015-06-12 0.728 4.128
2015-05-07 0.729 3.724
2014-12-05 0.706 4.370
2014-11-13 0.825 5.042
2014-09-04 0.833 5.259

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

  • Whilst dividend payments have been stable, Orion Engineered Carbons has been paying a dividend for less than 10 years.
  • Orion Engineered Carbons has only been paying a dividend for 5 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Orion Engineered Carbons's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.8x coverage).
X
Income/ dividend checks
We assess Orion Engineered Carbons's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Orion Engineered Carbons afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Orion Engineered Carbons 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.

OEC Management

 What is the CEO of Orion Engineered Carbons'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
Corning Painter
AGE 56
TENURE AS CEO 0.5 years
CEO Bio

Mr. Corning F. Painter has been Chief Executive Officer and Director of Orion Engineered Carbons, S.A. since October 16, 2018. He served as an Executive Vice President of Industrial Gases at Air Products and Chemicals, Inc. since 2015 until 2018 and also served as its Interim President of Industrial Gases - Americas. Mr. Painter has been Chief Executive Officer of Orion Engineered Carbons Holdings GmbH since September 2018 and its Board Member since October, 2018. Mr. Painter served as Senior Vice President of Merchant Gases at Air Products Singapore Pte. Ltd. since October 2013 until October 2014. He had overall responsibility for developing and implementing strategy for Air Products global Merchant Gases business. He served as Senior Vice President and General Manager of Merchant Gases at Air Products and Chemicals, Inc. since 2014. He served as Senior Vice President of Supply Chain at Air Products & Chemicals Inc., since September 2012 until October 2013. He served as Senior Vice President of Corporate Strategy, Technology & Supply Chain at Air Products and Chemicals, Inc. from July 2011 to September 14, 2012. Mr. Painter served as vice president and general manager of Global Electronics at Air Products and Chemicals, Inc. from 2006 to July 2011. He served as General Manager of Korea operations and Taiwan Operations at Air Products and Chemicals, Inc. He served as Regional Vice President and General Manager for Asia Electronics divisions of Air Products Asia, Inc., a Subsidiary of Air Products and Chemicals, Inc. He was responsible for developing and implementing the global strategy for Air Products' Electronics business. He joined Air Products in 1984 as a participant in the company's Career Development Program and subsequently progressed through a variety of commercial and operating positions. In 1992 he joined the Electronics Division where he led its MEGASYS™ on-site services business and semiconductor business development department. In 1996, Mr. Painter relocated to Austin, Texas, where he managed the Mid-America electronics business and in 2000 he was appointed general manager of the European Electronics Division. He relocated to Asia in 2002 as the regional vice president for Air Products Asia Electronics. In 2004, he was appointed regional vice president, Asia Electronics. He served as Chairman of Air Products San Fu. He served as Director of INOX Air Products Private Limited until December 15, 2015. He is the Founder of a youth soccer club which provides expatriate and local children the opportunity to play together, compete and build relationships and skills. Mr. Painter received a B.S. Degree in Chemical Engineering from Carnegie Mellon University in 1984. He is a Certified Professional Engineer in Pennsylvania.

CEO Compensation
  • Insufficient data for Corning to compare compensation growth.
  • Insufficient data for Corning to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Orion Engineered Carbons management team in years:

6.3
Average Tenure
56
Average Age
  • The average tenure for the Orion Engineered Carbons management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Corning Painter

TITLE
CEO & Director
AGE
56
TENURE
0.5 yrs

Charles E. Herlinger

TITLE
Chief Financial Officer
AGE
62
TENURE
7.8 yrs

Jürgen Ahl

TITLE
Senior Vice President of Global Operations
TENURE
0.9 yrs

André Schulze Isfort

TITLE
Chief Accounting Officer and Head of Consolidation & Reporting
AGE
43

Christian Eggert

TITLE
Senior VP
AGE
44
TENURE
6.7 yrs

Jeff Malenky

TITLE
Senior Vice President of Global Human Resources
AGE
63
TENURE
7.8 yrs

Jack Clem

TITLE
Advisor & Director
AGE
64

Erik Thiry

TITLE
Senior Vice President of Business Line Rubber Carbon Black & Business Development
AGE
47
TENURE
3.6 yrs

Claudine Mollenkopf

TITLE
Senior Vice President of Business Line Specialty Carbon Black
AGE
51
TENURE
7.7 yrs

Lixing Min

TITLE
Senior VP & GM of Asia - Pacific Region
AGE
57
TENURE
6 yrs
Board of Directors Tenure

Average tenure and age of the Orion Engineered Carbons board of directors in years:

0.6
Average Tenure
65.5
Average Age
  • The average tenure for the Orion Engineered Carbons board of directors is less than 3 years, this suggests a new board.
Board of Directors

Dan Smith

TITLE
Chairman of the Board
AGE
72

Corning Painter

TITLE
CEO & Director
AGE
56
TENURE
0.5 yrs

Jack Clem

TITLE
Advisor & Director
AGE
64
TENURE
0.5 yrs

Paul Huck

TITLE
Director
AGE
68

Hans-Dietrich Winkhaus

TITLE
Director
AGE
81

Didier Miraton

TITLE
Director
AGE
59

Marc Jean Faber

TITLE
Director
AGE
59
TENURE
1.8 yrs

Kerry Galvin

TITLE
Director
AGE
67
TENURE
0.7 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 ($) Value ($)
X
Management checks
We assess Orion Engineered Carbons'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. Orion Engineered Carbons 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.

OEC News

Simply Wall St News

Should You Be Adding Orion Engineered Carbons (NYSE:OEC) To Your Watchlist Today?

If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in Orion Engineered Carbons (NYSE:OEC). … How Fast Is Orion Engineered Carbons Growing. … Orion Engineered Carbons maintained stable EBIT margins over the last year, all while growing revenue 19% to US$1.6b.

Simply Wall St -

Is Orion Engineered Carbons S.A.'s (NYSE:OEC) P/E Ratio Really That Good?

We'll show how you can use Orion Engineered Carbons S.A.'s (NYSE:OEC) P/E ratio to inform your assessment of the investment opportunity. … Orion Engineered Carbons has a price to earnings ratio of 9.58, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Should You Be Impressed By Orion Engineered Carbons S.A.'s (NYSE:OEC) ROE?

Our data shows Orion Engineered Carbons has a return on equity of 76% for the last year. … Another way to think of that is that for every $1 worth of equity in the company, it was able to earn $0.76. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Here's What Orion Engineered Carbons, S.A.'s (NYSE:OEC) ROCE Can Tell Us

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Understanding Return On Capital Employed (ROCE). … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Why Orion Engineered Carbons, S.A. (NYSE:OEC) Could Be Your Next Investment

Help shape the future of investing tools and you could win a $250 gift card! … Looking at the company as a whole, as a potential stock investment, I believe OEC has a lot to offer. … is a company with great financial health as well as a

Simply Wall St -

Before You Buy Orion Engineered Carbons, S.A. (NYSE:OEC), Consider Its Volatility

(NYSE:OEC), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

Is It Time To Consider Buying Orion Engineered Carbons, S.A. (NYSE:OEC)?

Orion Engineered Carbons, S.A. … With many analysts covering the stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Let’s take a look at Orion Engineered Carbons’s outlook and value based on the most recent financial data to see if the opportunity still exists

Simply Wall St -

4 Days Left Before Orion Engineered Carbons, S.A. (NYSE:OEC) Will Be Trading Ex-Dividend

Investors who want to cash in on Orion Engineered Carbons, S.A.'s (NYSE:OEC) upcoming dividend of US$0.20 per share have only 4 days left to buy the shares before its ex-dividend date, 17 December 2018, in time for dividends payable on the 28 December 2018. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I examine Orion Engineered Carbons's latest financial data to analyse its dividend characteristics. … How I analyze a dividend stock?

Simply Wall St -

Orion Engineered Carbons SA (NYSE:OEC): Assessing Capital Returns

and want a simplistic look at the return on Orion Engineered Carbons SA (NYSE:OEC) stock. … Buying Orion Engineered Carbons makes you a partial owner of the company. … To understand Orion Engineered Carbons’s capital returns we will look at a useful metric called return on capital employed.

Simply Wall St -

Should Orion Engineered Carbons SA (NYSE:OEC) Be Your Next Stock Pick?

In the case of Orion Engineered Carbons SA (NYSE:OEC), there's. … Below, I've touched on some key aspects you should know on a high level … For those interested in understanding where the figures come from and want to see the analysis,

Simply Wall St -

OEC Company Info

Description

Orion Engineered Carbons S.A., together with its subsidiaries, produces and sells carbon black products in Germany, the United States, South Korea, Brazil, China, South Africa, the rest of Europe, and internationally. It operates through two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; and various conductive carbon black grades for use in polymer and printing applications, as well as in silicon, non-woven textile, building material, battery electrodes metallurgical, agrochemical, and carbon brush applications. It also provides rubber carbon black products for applications in mechanical rubber goods under the PUREX brand, as well as in tires under the ECORAX brand name. The company was formerly known as Orion Engineered Carbons S.à r.l. and changed its name to Orion Engineered Carbons S.A. in July 2014. Orion Engineered Carbons S.A. was incorporated in 2011 and is headquartered in Senningerberg, Luxembourg.

Details
Name: Orion Engineered Carbons S.A.
OEC
Exchange: NYSE
Founded: 2011
$1,262,548,226
60,035,579
Website: http://www.orioncarbons.com
Address: Orion Engineered Carbons S.A.
6, Route de Trèves,
Senningerberg,
2633,
Luxembourg
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE OEC Ordinary Registered Shares New York Stock Exchange US USD 28. Jul 2014
DB 0OE Ordinary Registered Shares Deutsche Boerse AG DE EUR 28. Jul 2014
Number of employees
Current staff
Staff numbers
1,437
Orion Engineered Carbons employees.
Industry
Commodity Chemicals
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 00:46
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/23
Last earnings filing: 2019/03/08
Last earnings reported: 2018/12/31
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.