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AVX

NYSE:AVX
Snowflake Description

Flawless balance sheet with proven track record and pays a dividend.

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

AVX Corporation, together with its subsidiaries, manufactures, supplies, and resells various electronic components, interconnect devices, sensing and control devices, and related products worldwide. The last earnings update was 45 days ago. More info.


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AVX Share Price and Events
7 Day Returns
-5%
NYSE:AVX
-2.7%
US Electronic
-1.1%
US Market
1 Year Returns
3.9%
NYSE:AVX
3.5%
US Electronic
6.4%
US Market
AVX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
AVX (AVX) -5% -7.3% 19.5% 3.9% 40.4% 33.8%
US Electronic -2.7% -2.6% 23.1% 3.5% 56.7% 56.4%
US Market -1.1% 0.3% 17.2% 6.4% 37.9% 42.1%
1 Year Return vs Industry and Market
  • AVX underperformed the Market in United States of America which returned 6.4% over the past year.
Price Volatility
AVX
Industry
5yr Volatility vs Market
Related Companies

Value

 Is AVX 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 AVX 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 AVX.

NYSE:AVX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 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:AVX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.07
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.065 (1 + (1- 21%) (0%))
1.044
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.04
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.044 * 5.96%)
8.95%

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

The calculations below outline how an intrinsic value for AVX 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:AVX DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.95%)
2019 115.21 Est @ -5.78% 105.74
2020 111.49 Est @ -3.23% 93.92
2021 109.88 Est @ -1.44% 84.97
2022 109.68 Est @ -0.19% 77.84
2023 110.43 Est @ 0.69% 71.93
2024 111.86 Est @ 1.3% 66.88
2025 113.80 Est @ 1.73% 62.45
2026 116.11 Est @ 2.03% 58.48
2027 118.71 Est @ 2.24% 54.88
2028 121.54 Est @ 2.39% 51.57
Present value of next 10 years cash flows $728.66
NYSE:AVX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $121.54 × (1 + 2.73%) ÷ (8.95% – 2.73%)
$2,007.09
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,007.09 ÷ (1 + 8.95%)10
$851.66
NYSE:AVX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $728.66 + $851.66
$1,580.32
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,580.32 / 168.80
$9.36
NYSE:AVX Discount to Share Price
Calculation Result
Value per share (USD) From above. $9.36
Current discount Discount to share price of $17.21
= -1 x ($17.21 - $9.36) / $9.36
-83.8%

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

  • The current share price of AVX 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 AVX's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are AVX's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:AVX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $1.39
NYSE:AVX Share Price ** NYSE (2019-03-22) in USD $17.21
United States of America Electronic Industry PE Ratio Median Figure of 92 Publicly-Listed Electronic Companies 19.06x
United States of America Market PE Ratio Median Figure of 3,062 Publicly-Listed Companies 17.16x

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

** Primary Listing of AVX.

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

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

= 17.21 ÷ 1.39

12.39x

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

  • AVX is good value based on earnings compared to the US Electronic industry average.
  • AVX is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does AVX's expected growth come at a high price?
Raw Data
NYSE:AVX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.39x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
2.6%per year
United States of America Electronic Industry PEG Ratio Median Figure of 60 Publicly-Listed Electronic Companies 1.5x
United States of America Market PEG Ratio Median Figure of 2,105 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.39x ÷ 2.6%

4.69x

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

  • AVX is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on AVX's assets?
Raw Data
NYSE:AVX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $13.85
NYSE:AVX Share Price * NYSE (2019-03-22) in USD $17.21
United States of America Electronic Industry PB Ratio Median Figure of 151 Publicly-Listed Electronic Companies 2.01x
United States of America Market PB Ratio Median Figure of 5,165 Publicly-Listed Companies 1.85x
NYSE:AVX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 17.21 ÷ 13.85

1.24x

* Primary Listing of AVX.

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

  • AVX is good value based on assets compared to the US Electronic industry average.
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Value checks
We assess AVX'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 Electronic 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 Electronic industry average (and greater than 0)? (1 check)
  5. AVX has a total score of 3/6, 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.

Future Performance

 How is AVX expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
2.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is AVX expected to grow at an attractive rate?
  • AVX's earnings growth is positive but not above the low risk savings rate of 2.7%.
Growth vs Market Checks
  • AVX's earnings growth is positive but not above the United States of America market average.
  • AVX's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:AVX Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:AVX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 2.6%
NYSE:AVX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 2%
United States of America Electronic Industry Earnings Growth Rate Market Cap Weighted Average 17%
United States of America Electronic Industry Revenue Growth Rate Market Cap Weighted Average 5.6%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.2%
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:AVX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:AVX Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-03-31 1,843 253 1
2019-03-31 1,802 268 1
NYSE:AVX Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,799 232 234
2018-09-30 1,789 206 67
2018-06-30 1,685 230 29
2018-03-31 1,562 195 5
2017-12-31 1,445 196 7
2017-09-30 1,354 219 136
2017-06-30 1,329 193 127
2017-03-31 1,313 195 126
2016-12-31 1,287 224 125
2016-09-30 1,233 221 94
2016-06-30 1,210 263 96
2016-03-31 1,196 166 102

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • AVX's earnings are expected to grow by 2.6% yearly, however this is not considered high growth (20% yearly).
  • AVX's revenue is expected to grow by 2% 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:AVX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from AVX Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:AVX Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-03-31 1.50 1.50 1.50 1.00
2019-03-31 1.58 1.58 1.58 1.00
NYSE:AVX Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 1.39
2018-09-30 0.40
2018-06-30 0.17
2018-03-31 0.03
2017-12-31 0.04
2017-09-30 0.81
2017-06-30 0.76
2017-03-31 0.75
2016-12-31 0.74
2016-09-30 0.56
2016-06-30 0.57
2016-03-31 0.61

*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.
  • Unable to establish if AVX will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess AVX'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.
AVX has a total score of 0/6, 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.

Past Performance

  How has AVX 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 AVX's growth in the last year to its industry (Electronic).
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.
  • AVX's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • AVX's 1-year earnings growth exceeds its 5-year average (3270.5% vs -13.8%)
  • AVX's earnings growth has exceeded the US Electronic industry average in the past year (3270.5% vs 64.8%).
Earnings and Revenue History
AVX'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 AVX Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:AVX 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 1,799.47 234.15 171.51
2018-09-30 1,788.87 66.64 157.78
2018-06-30 1,685.24 29.39 149.43
2018-03-31 1,562.47 4.91 140.53
2017-12-31 1,445.42 6.95 129.30
2017-09-30 1,354.42 135.68 120.98
2017-06-30 1,329.19 127.38 117.54
2017-03-31 1,312.66 125.79 121.20
2016-12-31 1,286.69 124.59 124.75
2016-09-30 1,232.94 94.45 127.51
2016-06-30 1,209.84 95.80 126.34
2016-03-31 1,195.53 101.54 119.77
2015-12-31 1,207.47 170.40 117.87
2015-09-30 1,242.11 203.98 114.94
2015-06-30 1,303.16 220.73 114.70
2015-03-31 1,353.23 225.87 115.82
2014-12-31 1,388.91 163.48 113.83
2014-09-30 1,413.44 155.96 117.73
2014-06-30 1,423.81 140.15 120.26
2014-03-31 1,442.60 127.04 119.67
2013-12-31 1,451.92 112.48 120.21
2013-09-30 1,445.59 100.91 117.20
2013-06-30 1,430.63 100.13 116.71
2013-03-31 1,414.40 -64.31 117.37
2012-12-31 1,417.05 -102.47 116.43
2012-09-30 1,418.04 -85.46 115.36
2012-06-30 1,461.99 -51.58 115.00
2012-03-31 1,545.25 152.81 116.41

*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.
  • AVX has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • AVX used its assets more efficiently than the US Electronic industry average last year based on Return on Assets.
  • AVX has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess AVX'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 Electronic 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.
AVX has a total score of 4/6, 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.

Health

 How is AVX'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 AVX's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • AVX is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • AVX's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of AVX'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.
  • AVX has no debt, it does not need to be covered by short term assets.
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 AVX Company Filings, last reported 2 months ago.

NYSE:AVX Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,336.97 0.00 853.75
2018-09-30 2,299.75 0.00 844.71
2018-06-30 2,240.72 0.00 846.15
2018-03-31 2,243.44 0.00 827.20
2017-12-31 2,180.49 0.00 1,005.39
2017-09-30 2,284.54 0.00 1,165.41
2017-06-30 2,252.69 0.00 1,132.82
2017-03-31 2,216.48 0.00 1,107.38
2016-12-31 2,189.74 0.00 1,105.54
2016-09-30 2,197.64 0.00 1,081.90
2016-06-30 2,185.90 0.00 1,058.26
2016-03-31 2,177.11 0.00 948.80
2015-12-31 2,142.83 0.00 915.39
2015-09-30 2,165.93 0.00 869.36
2015-06-30 2,154.73 0.00 820.10
2015-03-31 2,131.96 0.00 843.51
2014-12-31 2,082.96 0.00 840.70
2014-09-30 2,069.40 0.00 824.60
2014-06-30 2,068.25 0.00 819.95
2014-03-31 2,047.69 0.00 874.29
2013-12-31 2,018.68 0.00 915.18
2013-09-30 2,011.62 0.00 1,004.38
2013-06-30 1,987.60 0.00 1,042.44
2013-03-31 1,972.93 0.00 1,047.09
2012-12-31 1,986.58 0.00 1,032.96
2012-09-30 1,975.89 0.00 887.22
2012-06-30 1,951.81 0.00 836.97
2012-03-31 2,120.75 0.00 813.42
  • AVX has no debt.
  • AVX has not taken on any debt in the past 5 years.
  • AVX has no debt, it does not need to be covered by operating cash flow.
  • AVX has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess AVX'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. AVX has a total score of 6/6, 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.

Dividends

 What is AVX'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
2.67%
Current annual income from AVX dividends. Estimated to be 2.67% next year.
If you bought $2,000 of AVX shares you are expected to receive $53 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?
  • AVX's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).
  • AVX's dividend is below the markets top 25% of dividend payers in United States of America (3.72%).
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:AVX 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 1 Analyst Estimates (S&P Global) See Below
United States of America Electronic Industry Average Dividend Yield Market Cap Weighted Average of 38 Stocks 1.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2003 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.9%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
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.

NYSE:AVX Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-03-31 0.46 1.00
2019-03-31 0.46 1.00
NYSE:AVX Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-07 0.460 2.540
2018-10-18 0.460 2.842
2018-07-19 0.460 2.430
2018-05-24 0.460 2.822
2018-02-08 0.460 2.775
2017-10-20 0.460 2.551
2017-08-03 0.440 2.467
2017-05-25 0.440 2.619
2017-02-09 0.440 2.708
2016-10-20 0.440 2.873
2016-07-21 0.420 3.072
2016-05-13 0.420 3.078
2016-02-04 0.420 3.437
2015-10-22 0.420 3.397
2015-08-05 0.420 3.200
2015-05-15 0.420 3.075
2015-02-04 0.420 2.958
2014-10-22 0.420 3.054
2014-07-24 0.380 2.858
2014-05-16 0.380 2.875
2014-02-06 0.380 2.904
2013-10-24 0.350 2.591
2013-07-25 0.350 2.651
2013-05-09 0.350 2.885
2013-02-07 0.300 2.572
2012-11-07 0.300 2.827
2012-10-25 0.300 2.976
2012-08-09 0.300 3.007
2012-07-31 0.300 3.045
2012-05-24 0.300 2.829
2012-04-25 0.300 2.571
2012-02-08 0.300 2.277
2012-01-25 0.300 2.238
2011-10-26 0.300 2.315
2011-08-08 0.220 1.795
2011-05-20 0.220 1.499
2011-02-03 0.220 1.413
2010-10-26 0.180 1.194
2010-07-22 0.180 1.323
2010-05-06 0.180 1.330
2010-01-29 0.160 1.180
2009-10-23 0.160 1.305
2009-07-23 0.160 1.395
2009-05-19 0.160 1.606
2009-03-25 0.160 1.639

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of AVX's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess AVX's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 AVX afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. AVX 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.

Management

 What is the CEO of AVX'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
John Sarvis
COMPENSATION $1,109,820
AGE 68
TENURE AS CEO 3.9 years
CEO Bio

Mr. John Sarvis has been the Chief Executive Officer and President of AVX Corp. since April 1, 2015 and has been its Chairman of the Board since July 25, 2016. Mr. Sarvis joined AVX Corporation in 1973. Mr. Sarvis served as a Vice President of Ceramic Products at AVX Corp. from 2005 to March 31, 2015. He served as a Divisional Vice President of Ceramics Division at AVX Corp. from 1998 to 2005. Prior to 1998, he held various Marketing and Operational positions at AVX Corp. He has been a Director of Kyocera Corporation since 2016 and AVX Corp. since April 1, 2015.

CEO Compensation
  • John's compensation has been consistent with company performance over the past year.
  • John'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 AVX management team in years:

1.6
Average Tenure
64.5
Average Age
  • The average tenure for the AVX management team is less than 2 years, this suggests a new team.
Management Team

John Sarvis

TITLE
Chairman
COMPENSATION
$1M
AGE
68
TENURE
3.9 yrs

Evan Slavitt

TITLE
Senior VP
COMPENSATION
$815K
AGE
60
TENURE
2.7 yrs

Pete Venuto

TITLE
Senior Vice President of Corporate Development
COMPENSATION
$874K
AGE
65
TENURE
0.8 yrs

Mike Hufnagel

TITLE
Senior VP
AGE
64
TENURE
0.7 yrs

Jeff Schmersal

TITLE
Senior VP & COO
TENURE
0.8 yrs

John Lawing

TITLE
CTO & Senior VP
COMPENSATION
$735K
AGE
67
TENURE
4.9 yrs

Eric Pratt

TITLE
Senior Vice President of Marketing
TENURE
1.6 yrs

Alex Schenkel

TITLE
Senior Vice President of Sales

S. King

TITLE
Senior Vice President of Tantalum Products
AGE
56
TENURE
3.6 yrs

Steve Sturgeon

TITLE
Senior Vice President of Connector Products
TENURE
1.6 yrs
Board of Directors Tenure

Average tenure and age of the AVX board of directors in years:

2.7
Average Tenure
62
Average Age
  • The average tenure for the AVX board of directors is less than 3 years, this suggests a new board.
Board of Directors

John Sarvis

TITLE
Chairman
COMPENSATION
$1M
AGE
68
TENURE
2.7 yrs

Donald Christiansen

TITLE
Presiding Director
COMPENSATION
$130K
AGE
79
TENURE
11.2 yrs

Goro Yamaguchi

TITLE
Director
COMPENSATION
$63K
AGE
62
TENURE
5.7 yrs

David DeCenzo

TITLE
Independent Director
COMPENSATION
$130K
AGE
63
TENURE
11.7 yrs

Shoichi Aoki

TITLE
Director
COMPENSATION
$63K
AGE
59
TENURE
6.7 yrs

Koichi Kano

TITLE
Director
COMPENSATION
$63K
AGE
57
TENURE
2.7 yrs

Hideo Tanimoto

TITLE
Director
COMPENSATION
$52K
AGE
58
TENURE
1.6 yrs

Hiroshi Fure

TITLE
Director
COMPENSATION
$52K
AGE
58
TENURE
1.6 yrs

John Ballato

TITLE
Director
TENURE
0.1 yrs

Kazuo Inamori

TITLE
Director Emeritus
AGE
86
TENURE
2.7 yrs
Who owns this company?
Recent Insider Trading
  • AVX insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
28. Jan 19 Sell Peter Venuto Individual 24. Jan 19 24. Jan 19 -2,000 $17.70 $-35,200
28. Jan 19 Sell Peter Venuto Individual 24. Jan 19 24. Jan 19 -2,011 $17.11 $-34,408
07. Sep 18 Sell John Lawing Individual 05. Sep 18 05. Sep 18 -5,000 $20.23 $-101,169
27. Aug 18 Sell John Lawing Individual 23. Aug 18 23. Aug 18 -1,094 $20.22 $-22,121
07. Aug 18 Sell Peter Venuto Individual 27. Jul 18 31. Jul 18 -2,407 $20.50 $-48,250
06. Aug 18 Sell Joseph Stach Individual 03. Aug 18 03. Aug 18 -1,874 $20.73 $-38,848
06. Aug 18 Sell Koichi Kano Individual 06. Aug 18 06. Aug 18 -525 $20.53 $-10,778
06. Aug 18 Sell Donald Christiansen Individual 02. Aug 18 06. Aug 18 -1,874 $21.06 $-38,749
17. May 18 Sell Michael Hufnagel Individual 02. May 17 07. May 18 -3,078 $16.85 $-48,661
27. Jul 18 Sell David DeCenzo Individual 26. Jul 18 26. Jul 18 -687 $18.74 $-12,874
X
Management checks
We assess AVX'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. AVX 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.

News

Simply Wall St News

Should AVX Corporation (NYSE:AVX) Be Part Of Your Dividend Portfolio?

Dividends play a key role in compounding returns over time and can form a large part of our portfolio return. … Historically, AVX Corporation (NYSE:AVX) has paid dividends to shareholders, and these days it yields 2.6%. … Does AVX tick all the boxes of a great dividend stock?

Simply Wall St -

Is AVX Corporation (NYSE:AVX) Better Than Average At Deploying Capital?

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 metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business.

Simply Wall St -

Is AVX Corporation's (NYSE:AVX) CEO Pay Justified?

John Sarvis has been the CEO of AVX Corporation (NYSE:AVX) since 2015. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does John Sarvis's Compensation Compare With Similar Sized Companies?

Simply Wall St -

A Spotlight On AVX Corporation's (NYSE:AVX) Fundamentals

AVX Corporation (NYSE:AVX) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … In the case of AVX, it

Simply Wall St -

Did AVX Corporation (NYSE:AVX) Insiders Sell Shares?

So before you buy or sell AVX Corporation (NYSE:AVX), you may well want to know whether insiders have been buying or selling. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … Although we don't gain confidence from insider selling, we note that this large sale was at well above current price of US$16.20

Simply Wall St -

A Closer Look At AVX Corporation's (NYSE:AVX) Uninspiring ROE

This article is for those who would like to learn about Return On Equity (ROE). … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.029 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is AVX Corporation (NYSE:AVX) As Strong As Its Balance Sheet Indicates?

Small-caps and large-caps are wildly popular among investors; however, mid-cap stocks, such as AVX Corporation (NYSE:AVX) with a market-capitalization of US$2.7b, rarely draw their attention. … While they are less talked about as an investment category, mid-cap risk-adjusted returns have generally been better than more commonly focused stocks that fall into the small- or large-cap categories. … Today we will look at AVX’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth.

Simply Wall St -

Should You Worry About AVX Corporation's (NYSE:AVX) CEO Pay?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does John Sarvis's Compensation Compare With Similar Sized Companies. … Most shareholders would consider it a positive that John Sarvis takes less compensation than the CEOs of most similar size companies, leaving more for shareholders.

Simply Wall St -

4 Days Left Until AVX Corporation (NYSE:AVX) Trades Ex-Dividend,

Have you been keeping an eye on AVX Corporation's (NYSE:AVX) upcoming dividend of US$0.12 per share payable on the 16 November 2018? … Is this future income stream a compelling catalyst for dividend investors to think about the stock as an investment today? … 5 checks you should use to assess a dividend stock?

Simply Wall St -

Why We Think AVX Corporation (NYSE:AVX) Could Be Worth Looking At

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on AVX Corporation (NYSE:AVX) due to its excellent fundamentals in more than one area.

Simply Wall St -

Company Info

Description

AVX Corporation, together with its subsidiaries, manufactures, supplies, and resells various electronic components, interconnect devices, sensing and control devices, and related products worldwide. The company operates through three segments: Electronic Components; Interconnect, Sensing and Control Devices; and Kyocera Electronic Devices Resale. The Electronic Components segment primarily offers surface mount and leaded ceramic, film, and tantalum capacitors; RF thick and thin film components; ceramic and film power capacitors; super capacitors; EMI filters; thick and thin film packages of multiple integrated components; varistors; thermistors; inductors; resistive products; and passive and active electronic antennas. The Interconnect, Sensing and Control Devices segment manufactures and resells electronic connectors, interconnect systems, and sensing and control devices for use in various industries. The Kyocera Electronic Devices Resale segment distributes and sells ceramic capacitors, RF modules, frequency control devices, SAW devices, sensor products, actuators, acoustic devices, and connectors produced by Kyocera Corporation of Japan. The company serves various industries, such as telecommunications, information technology hardware, automotive electronics, medical devices and instrumentation, industrial instrumentation, transportation, energy harvesting, defense and aerospace electronic systems, and consumer electronics industries. It markets its products through its direct sales force and independent manufacturers’ representatives to multi-national original equipment manufacturers, independent electronic component distributors, and electronic manufacturing service providers. The company was founded in 1972 and is headquartered in Fountain Inn, South Carolina. AVX Corporation is a subsidiary of Kyocera Corporation.

Details
Name: AVX Corporation
AVX
Exchange: NYSE
Founded: 1972
$2,905,044,144
168,799,776
Website: http://www.avx.com
Address: AVX Corporation
One AVX Boulevard,
Fountain Inn,
South Carolina, 29644,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE AVX Common Stock New York Stock Exchange US USD 15. Aug 1995
DB AX6 Common Stock Deutsche Boerse AG DE EUR 15. Aug 1995
Number of employees
Current staff
Staff numbers
14,920
AVX employees.
Industry
Electronic Components
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/24 23:31
End of day share price update: 2019/03/22 00:00
Last estimates confirmation: 2019/01/24
Last earnings filing: 2019/02/07
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


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.