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Akzo Nobel

OTCPK:AKZO.Y
Snowflake Description

Excellent balance sheet second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AKZO.Y
OTCPK
€16B
Market Cap
  1. Home
  2. US
  3. Materials
Company description

Akzo Nobel N.V. operates as a paints and coatings company worldwide. The last earnings update was 26 days ago. More info.


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AKZO.Y Share Price and Events
7 Day Returns
3%
OTCPK:AKZO.Y
-0.6%
US Chemicals
-0.7%
US Market
1 Year Returns
-15.9%
OTCPK:AKZO.Y
-15.4%
US Chemicals
3%
US Market
AKZO.Y Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Akzo Nobel (AKZO.Y) 3% -5.1% -7.8% -15.9% 9.8% 0.8%
US Chemicals -0.6% -7.8% -8.9% -15.4% 16.9% 6.7%
US Market -0.7% -2% 2.4% 3% 39.2% 42%
1 Year Return vs Industry and Market
  • AKZO.Y underperformed the Market in United States of America which returned 3% over the past year.
Price Volatility
AKZO.Y
Industry
5yr Volatility vs Market

AKZO.Y Value

 Is Akzo Nobel 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 Akzo Nobel 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 Akzo Nobel.

OTCPK:AKZO.Y Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 19 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.6%
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 OTCPK:AKZO.Y
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 0.87
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.87 (1 + (1- 25%) (16.93%))
0.987
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.99
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.987 * 5.96%)
8.61%

Discounted Cash Flow Calculation for OTCPK:AKZO.Y using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Akzo Nobel 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.

OTCPK:AKZO.Y DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 8.61%)
2019 228.00 Analyst x2 209.92
2020 736.47 Analyst x10 624.31
2021 881.13 Analyst x8 687.71
2022 1,033.00 Analyst x1 742.31
2023 1,131.00 Analyst x1 748.29
2024 1,212.02 Est @ 7.16% 738.31
2025 1,282.72 Est @ 5.83% 719.42
2026 1,345.60 Est @ 4.9% 694.85
2027 1,402.80 Est @ 4.25% 666.95
2028 1,456.03 Est @ 3.79% 637.36
Present value of next 10 years cash flows €6,469.44
OTCPK:AKZO.Y DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €1,456.03 × (1 + 2.73%) ÷ (8.61% – 2.73%)
€25,429.34
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €25,429.34 ÷ (1 + 8.61%)10
€11,131.50
OTCPK:AKZO.Y Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €6,469.44 + €11,131.50
€17,600.94
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €17,600.94 / 214.21
€82.17
OTCPK:AKZO.Y Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:AKZO.Y represents 0.37162x of ENXTAM:AKZA
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.37162x
Value per Share
(Listing Adjusted, USD)
= Value per Share (EUR) x Listing Adjustment Factor
= € 82.17 x 0.37162
$30.54
Value per share (USD) From above. $30.54
Current discount Discount to share price of $28.44
= -1 x ($28.44 - $30.54) / $30.54
6.9%

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

Current Discount
Amount off the current price Akzo Nobel is available for.
Intrinsic value
7%
Share price is $28.44 vs Future cash flow value of $30.54
Current Discount Checks
For Akzo Nobel to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Akzo Nobel's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Akzo Nobel's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 Akzo Nobel's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Akzo Nobel's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:AKZO.Y PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €1.55
ENXTAM:AKZA Share Price ** ENXTAM (2019-05-17) in EUR €76.53
United States of America Chemicals Industry PE Ratio Median Figure of 67 Publicly-Listed Chemicals Companies 17.88x
United States of America Market PE Ratio Median Figure of 3,088 Publicly-Listed Companies 17.89x

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

** Primary Listing of Akzo Nobel.

OTCPK:AKZO.Y PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTAM:AKZA Share Price ÷ EPS (both in EUR)

= 76.53 ÷ 1.55

49.49x

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

  • Akzo Nobel is overvalued based on earnings compared to the US Chemicals industry average.
  • Akzo Nobel is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Akzo Nobel's expected growth come at a high price?
Raw Data
OTCPK:AKZO.Y PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 49.49x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts
18.5%per year
United States of America Chemicals Industry PEG Ratio Median Figure of 49 Publicly-Listed Chemicals Companies 1.33x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

OTCPK:AKZO.Y PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 49.49x ÷ 18.5%

2.68x

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

  • Akzo Nobel is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Akzo Nobel's assets?
Raw Data
OTCPK:AKZO.Y PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €38.46
ENXTAM:AKZA Share Price * ENXTAM (2019-05-17) in EUR €76.53
United States of America Chemicals Industry PB Ratio Median Figure of 93 Publicly-Listed Chemicals Companies 2.09x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
OTCPK:AKZO.Y PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTAM:AKZA Share Price ÷ Book Value per Share (both in EUR)

= 76.53 ÷ 38.46

1.99x

* Primary Listing of Akzo Nobel.

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

  • Akzo Nobel is good value based on assets compared to the US Chemicals industry average.
X
Value checks
We assess Akzo Nobel'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. Akzo Nobel has a total score of 1/6, 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.

AKZO.Y Future Performance

 How is Akzo Nobel expected to perform in the next 1 to 3 years based on estimates from 19 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
18.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Akzo Nobel expected to grow at an attractive rate?
  • Akzo Nobel's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Akzo Nobel's earnings growth is expected to exceed the United States of America market average.
  • Akzo Nobel's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:AKZO.Y Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:AKZO.Y Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts 18.5%
OTCPK:AKZO.Y Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 19 Analysts 3.5%
United States of America Chemicals Industry Earnings Growth Rate Market Cap Weighted Average 13.1%
United States of America Chemicals Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*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
OTCPK:AKZO.Y Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:AKZO.Y Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 11,015 1,432 1,201 3
2022-12-31 10,623 1,318 1,092 3
2021-12-31 10,064 1,176 852 17
2020-12-31 9,775 1,051 752 19
2019-12-31 9,502 547 589 17
OTCPK:AKZO.Y Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 9,265 245 354
2018-12-31 9,256 513 400
2018-09-30 9,231 652 393
2018-06-30 9,324 671 365
2018-03-31 9,411 882 426
2017-12-31 9,612 969 439
2017-09-30 6,022 772 107
2017-06-30 7,203 1,035 272
2017-03-31 8,381 1,261 417
2016-12-31 9,434 1,291 534
2016-09-30 14,300 1,477 1,032
2016-06-30 14,460 1,460 1,031

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Akzo Nobel's earnings are expected to grow by 18.5% yearly, however this is not considered high growth (20% yearly).
  • Akzo Nobel's revenue is expected to grow by 3.5% 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
OTCPK:AKZO.Y Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below

All data from Akzo Nobel Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:AKZO.Y Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 6.17 6.17 6.17 1.00
2022-12-31 5.61 5.61 5.61 1.00
2021-12-31 4.76 5.88 3.80 12.00
2020-12-31 4.02 4.92 3.25 14.00
2019-12-31 2.75 3.30 2.28 13.00
OTCPK:AKZO.Y Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 1.55
2018-12-31 1.77
2018-09-30 1.74
2018-06-30 1.62
2018-03-31 1.90
2017-12-31 1.96
2017-09-30 0.48
2017-06-30 1.22
2017-03-31 1.87
2016-12-31 2.39
2016-09-30 4.64
2016-06-30 4.65

*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.
  • Akzo Nobel is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Akzo Nobel'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.
Akzo Nobel has a total score of 2/6, 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.

AKZO.Y Past Performance

  How has Akzo Nobel 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 Akzo Nobel'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.
  • Akzo Nobel's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Akzo Nobel's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Akzo Nobel's 1-year earnings growth is negative, it can't be compared to the US Chemicals industry average.
Earnings and Revenue History
Akzo Nobel'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 Akzo Nobel Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:AKZO.Y Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 9,265.00 354.00 3,028.00 264.00
2018-12-31 9,256.00 400.00 3,044.00 264.00
2018-09-30 9,231.00 393.00 3,005.00 270.00
2018-06-30 9,324.00 365.00 3,068.00 270.00
2018-03-31 9,411.00 426.00 3,050.00 270.00
2017-12-31 9,612.00 439.00 3,107.00 270.00
2017-09-30 6,022.00 107.00 2,329.00 257.00
2017-06-30 7,203.00 272.00 2,603.00 257.00
2017-03-31 8,381.00 417.00 2,888.00 257.00
2016-12-31 9,434.00 534.00 3,138.00 257.00
2016-09-30 14,300.00 1,032.00 4,158.00 347.00
2016-06-30 14,460.00 1,031.00 4,194.00 347.00
2016-03-31 14,698.00 1,051.00 4,253.00 347.00
2015-12-31 14,859.00 973.00 4,279.00 347.00
2015-09-30 14,817.00 772.00 4,295.00 363.00
2015-06-30 14,743.00 691.00 4,313.00 363.00
2015-03-31 14,504.00 565.00 4,250.00 363.00
2014-12-31 14,296.00 528.00 4,203.00 363.00
2014-09-30 14,261.00 570.00 4,235.00 373.00
2014-06-30 14,353.00 521.00 4,264.00 373.00
2014-03-31 14,508.00 623.00 4,343.00 373.00
2013-12-31 14,590.00 593.00 4,375.00 373.00
2013-09-30 14,781.00 553.00 4,690.00 99.00
2013-06-30 14,969.00 -1,577.00 4,653.00 197.00
2013-03-31 15,148.00 -1,670.00 4,542.00 293.00
2012-12-31 15,390.00 -1,656.00 4,470.00 384.00
2012-09-30 14,411.00 -1,646.00 3,876.00 367.00
2012-06-30 14,496.00 478.00 3,926.00 356.00

*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.
  • Akzo Nobel has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Akzo Nobel used its assets less efficiently than the US Chemicals industry average last year based on Return on Assets.
  • Akzo Nobel's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Akzo Nobel'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.
Akzo Nobel has a total score of 0/6, 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.

AKZO.Y Health

 How is Akzo Nobel'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 Akzo Nobel's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Akzo Nobel is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Akzo Nobel's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Akzo Nobel'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 covered by short term assets, assets are 2.8x 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 Akzo Nobel Company Filings, last reported 1 month ago.

OTCPK:AKZO.Y Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 8,825.00 2,775.00 4,035.00
2018-12-31 12,038.00 2,398.00 8,259.00
2018-09-30 6,656.00 3,740.00 1,040.00
2018-06-30 6,535.00 3,846.00 958.00
2018-03-31 6,411.00 3,742.00 1,146.00
2017-12-31 6,307.00 3,273.00 1,322.00
2017-09-30 6,859.00 2,777.00 1,086.00
2017-06-30 6,771.00 2,952.00 1,042.00
2017-03-31 7,150.00 3,069.00 1,268.00
2016-12-31 7,034.00 2,731.00 1,479.00
2016-09-30 6,840.00 2,801.00 1,682.00
2016-06-30 7,314.00 2,910.00 1,331.00
2016-03-31 6,996.00 2,859.00 1,156.00
2015-12-31 6,980.00 2,591.00 1,365.00
2015-09-30 6,501.00 2,824.00 1,097.00
2015-06-30 6,381.00 3,146.00 1,008.00
2015-03-31 6,727.00 3,335.00 1,056.00
2014-12-31 6,267.00 3,338.00 1,732.00
2014-09-30 6,004.00 2,916.00 1,115.00
2014-06-30 5,496.00 3,158.00 1,030.00
2014-03-31 5,425.00 3,164.00 979.00
2013-12-31 6,021.00 3,627.00 2,098.00
2013-09-30 6,223.00 4,053.00 2,236.00
2013-06-30 6,621.00 4,112.00 1,915.00
2013-03-31 6,416.00 4,196.00 1,309.00
2012-12-31 6,228.00 4,050.00 1,752.00
2012-09-30 7,590.00 4,140.00 1,543.00
2012-06-30 9,995.00 4,156.00 1,313.00
  • Akzo Nobel's level of debt (31.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (58.3% vs 31.4% today).
  • Debt is not well covered by operating cash flow (8.8%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8x coverage).
X
Financial health checks
We assess Akzo Nobel'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. Akzo Nobel has a total score of 5/6, 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.

AKZO.Y Dividends

 What is Akzo Nobel'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
3.02%
Current annual income from Akzo Nobel dividends. Estimated to be 3.15% next year.
If you bought $2,000 of Akzo Nobel shares you are expected to receive $60 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?
  • Akzo Nobel's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Akzo Nobel's dividend is below the markets top 25% of dividend payers in United States of America (3.69%).
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
OTCPK:AKZO.Y 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 19 Analyst Estimates (S&P Global) See Below
United States of America Chemicals Industry Average Dividend Yield Market Cap Weighted Average of 54 Stocks 2.3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2000 Stocks 2.5%
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 3.7%

Industry and Market average data is calculated daily.

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

OTCPK:AKZO.Y Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 5.77 1.00
2022-12-31 5.24 1.00
2021-12-31 2.50 16.00
2020-12-31 2.27 17.00
2019-12-31 2.03 14.00
OTCPK:AKZO.Y Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-13 2.310 2.936
2018-04-26 2.813 3.345
2017-03-01 1.856 2.149
2017-02-15 1.856 2.611
2016-10-19 1.766 2.615
2016-04-20 1.744 2.589
2015-04-22 1.631 2.346
2014-10-21 1.631 2.384
2014-04-29 1.631 2.712
2013-10-21 1.631 2.596
2013-04-29 1.631 3.085
2012-04-23 1.631 3.280
2011-10-20 1.631 3.697
2011-02-17 1.575 3.335
2010-10-21 1.575 3.119
2010-04-28 1.519 3.085
2009-10-27 1.913 3.974

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Akzo Nobel's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.5x coverage).
X
Income/ dividend checks
We assess Akzo Nobel'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 Akzo Nobel afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Akzo Nobel has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AKZO.Y Management

 What is the CEO of Akzo Nobel'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
Thierry F. Vanlancker
COMPENSATION €3,256,476
AGE 54
TENURE AS CEO 1.8 years
CEO Bio

Mr. Thierry F. J. Vanlancker has been Chief Executive Officer and Chairman of the Board of Management at Akzo Nobel N.V. since July 19, 2017 and its Member of Board of Management since September 8, 2017. Mr. Vanlancker has been a Director of Sika AG since April 9, 2019. He served as the Head of Specialty Chemicals at Akzo Nobel N.V. from February 1, 2017 to July 19, 2017. He served as the President of Fluoroproducts at The Chemours Company from May 1, 2012 to June 2016. Mr. Vanlancker served as the President of Chemical Solutions at The Chemours Company. He served as the President of Chemicals & Fluoroproducts at DuPont do Brasil S.A. from May 1, 2012 to June 2015. He joined AkzoNobel in 2016 and has more than 28 years of experience in the chemicals industry. He served as Vice President of Performance Coatings EMEA Region at E. I. du Pont de Nemours and Company from December 2010 to May 1, 2012. Mr. Vanlancker was global business and market director for DuPont Fluorochemicals, has held a range of business leadership roles in sales, marketing and technical capacities since joining DuPont in 1988. His assignments include time in Germany, Belgium, Switzerland and the United States. He joined DuPont in 1988 in Belgium as sales representative for Packaging & Industrial Polymers (P&IP) for the Benelux countries and transferred in 1993 to Germany as market development consultant for P&IP Europe, Middle East & Africa (EMEA). In 1996, he transferred to Wilmington, Del., as global technical service manager for P&IP and was appointed global product manager Vamac® ethylene acrylic elastomers in 1998. He returned in 1999 to Belgium to be part of the Herberts Acquisition/Integration Team within the newly formed DuPont Performance Coatings business and in 2000 moved to Cologne, Germany to become the sales manager for all Refinish Brands EMEA. In 2004, he was appointed as Regional Director of Fluoroproducts EMEA based in Geneva, Switzerland. In 2006, he returned to Wilmington, Del., as global business and market director - Fluorochemicals. He was named vice president for DuPont Performance Coatings - EMEA in November 2010. Mr. Vanlancker graduated 1987 from Ghent State University, Belgium with a master’s degree in Chemical Engineering and studied Philosophy at same university. In 1999, he earned an Executive Finance Training Certificate from Wharton Business School in Philadelphia, PA.

CEO Compensation
  • Thierry F.'s compensation has increased by more than 20% in the past year.
  • Thierry F.'s remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Akzo Nobel management team in years:

1.6
Average Tenure
53
Average Age
  • The average tenure for the Akzo Nobel management team is less than 2 years, this suggests a new team.
Management Team

Thierry F. Vanlancker

TITLE
Chairman of the Board of Management & CEO
COMPENSATION
€3M
AGE
54
TENURE
1.8 yrs

Maarten de Vries

TITLE
CFO & Member of Management Board
COMPENSATION
€2M
AGE
56
TENURE
1.3 yrs

Ruud Joosten

TITLE
Chief Operating Officer
AGE
54

Lloyd Midwinter

TITLE
Director of Communications & Investor Relation

Isabelle Deschamps

TITLE
General Counsel
AGE
48
TENURE
0.8 yrs

Leslie McGibbon

TITLE
Global Head of Communications & Public Affairs and Corporate Director
TENURE
3.9 yrs

Maëlys Castella

TITLE
Chief Corporate Development Officer
COMPENSATION
€2M
AGE
52
TENURE
1.3 yrs

Marten Booisma

TITLE
Chief Human Resource Officer
AGE
52
TENURE
5.6 yrs

Olle Werner

TITLE
Senior Vice President of Human Resources

Jaap Kuiper

TITLE
Managing Director of Decorative Paints - Latin America Operations
Board of Directors Tenure

Average tenure and age of the Akzo Nobel board of directors in years:

1.5
Average Tenure
61
Average Age
  • The average tenure for the Akzo Nobel board of directors is less than 3 years, this suggests a new board.
Board of Directors

Nils Andersen

TITLE
Chairman of the Supervisory Board
COMPENSATION
€111K
AGE
60
TENURE
1.1 yrs

Byron Grote

TITLE
Deputy Chairman of the Supervisory Board
COMPENSATION
€136K
AGE
70
TENURE
2.6 yrs

Dick Sluimers

TITLE
Member of the Supervisory Board
COMPENSATION
€108K
AGE
65
TENURE
4.3 yrs

Ben Verwaayen

TITLE
Member of the Supervisory Board
COMPENSATION
€95K
AGE
66
TENURE
7 yrs

Pam Kirby

TITLE
Member of the Supervisory Board
COMPENSATION
€93K
AGE
65
TENURE
3.1 yrs

Sue Clark

TITLE
Member of Supervisory Board
COMPENSATION
€88K
AGE
54
TENURE
1.5 yrs

Patrick Thomas

TITLE
Member of Supervisory Board
COMPENSATION
€91K
AGE
61
TENURE
1.5 yrs

Michiel Jaski

TITLE
Member of Supervisory Board
COMPENSATION
€78K
AGE
59
TENURE
1.5 yrs

Jolanda Poots-Bijl

TITLE
Member of the Supervisory Board
AGE
49
TENURE
0.1 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 ($) Value ($)
26. Nov 18 Buy Byron Grote Individual 26. Nov 18 26. Nov 18 1,333 $30.85 $41,130
23. Nov 18 Buy Byron Grote Individual 23. Nov 18 23. Nov 18 1,333 $30.66 $40,875
21. Nov 18 Buy Byron Grote Individual 21. Nov 18 21. Nov 18 1,333 $30.75 $40,995
X
Management checks
We assess Akzo Nobel'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. Akzo Nobel 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.

AKZO.Y News

Simply Wall St News

AKZO.Y Company Info

Description

Akzo Nobel N.V. operates as a paints and coatings company worldwide. The company offers decorative paints, including paints, lacquers, and varnishes; a range of mixing machines and color concepts for the building and renovation industry; and specialty coatings for metal, wood, and other building materials primarily under the Dulux, Coral, Levis, and Flexa brands. It also provides performance coatings to protect and enhance ships, cars, aircraft, yachts, architectural components, consumer goods, and oil and gas facilities. The company was formerly known as Akzo NV and changed its name to Akzo Nobel N.V. in 1994. Akzo Nobel N.V. was founded in 1646 and is headquartered in Amsterdam, the Netherlands.

Details
Name: Akzo Nobel N.V.
AKZO.Y
Exchange: OTCPK
Founded: 1646
€18,295,941,259
214,205,715
Website: http://www.akzonobel.com
Address: Akzo Nobel N.V.
Christian Neefestraat 2,
PO Box 75730,
Amsterdam,
Noord-Holland, 1070 AS,
Netherlands
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTAM AKZA Common Shares Euronext Amsterdam NL EUR 22. Dec 1989
OTCPK AKZO.F Common Shares Pink Sheets LLC US USD 22. Dec 1989
DB AKU1 Common Shares Deutsche Boerse AG DE EUR 22. Dec 1989
LSE 0A00 Common Shares London Stock Exchange GB EUR 22. Dec 1989
SWX AKZ Common Shares SIX Swiss Exchange CH CHF 22. Dec 1989
WBAG AKZO Common Shares Wiener Boerse AG AT EUR 22. Dec 1989
BATS-CHIXE AKZAA Common Shares BATS 'Chi-X Europe' GB EUR 22. Dec 1989
OTCPK AKZO.Y SPONSRD ADS NEW Pink Sheets LLC US USD 08. May 1989
DB AKUP SPONSRD ADS NEW Deutsche Boerse AG DE EUR 08. May 1989
Number of employees
Current staff
Staff numbers
34,400
Akzo Nobel employees.
Industry
Specialty Chemicals
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 01:27
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/13
Last earnings filing: 2019/04/24
Last earnings reported: 2019/03/31
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.