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AKZO NOBEL N.V. (AKZA.AS) Stock Fundamental Analysis

AMS:AKZA - Euronext Amsterdam - NL0013267909 - Common Stock - Currency: EUR

61.4  -0.22 (-0.36%)

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to AKZA. AKZA was compared to 61 industry peers in the Chemicals industry. There are concerns on the financial health of AKZA while its profitability can be described as average. AKZA has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

In the past year AKZA was profitable.
In the past year AKZA had a positive cash flow from operations.
AKZA had positive earnings in 4 of the past 5 years.
Of the past 5 years AKZA 4 years had a positive operating cash flow.
AKZA.AS Yearly Net Income VS EBIT VS OCF VS FCFAKZA.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2B 4B 6B

1.2 Ratios

AKZA has a Return On Assets of 3.66%. This is in the better half of the industry: AKZA outperforms 69.84% of its industry peers.
Looking at the Return On Equity, with a value of 12.28%, AKZA is in the better half of the industry, outperforming 79.37% of the companies in the same industry.
AKZA has a Return On Invested Capital of 6.65%. This is in the better half of the industry: AKZA outperforms 77.78% of its industry peers.
AKZA had an Average Return On Invested Capital over the past 3 years of 5.81%. This is in line with the industry average of 6.72%.
The 3 year average ROIC (5.81%) for AKZA is below the current ROIC(6.65%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 3.66%
ROE 12.28%
ROIC 6.65%
ROA(3y)3.8%
ROA(5y)4.07%
ROE(3y)11.21%
ROE(5y)10.62%
ROIC(3y)5.81%
ROIC(5y)5.75%
AKZA.AS Yearly ROA, ROE, ROICAKZA.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 10 20 30 40 50

1.3 Margins

AKZA's Profit Margin of 5.29% is fine compared to the rest of the industry. AKZA outperforms 71.43% of its industry peers.
In the last couple of years the Profit Margin of AKZA has declined.
AKZA's Operating Margin of 9.45% is fine compared to the rest of the industry. AKZA outperforms 76.19% of its industry peers.
In the last couple of years the Operating Margin of AKZA has grown nicely.
AKZA's Gross Margin of 40.82% is fine compared to the rest of the industry. AKZA outperforms 61.90% of its industry peers.
AKZA's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 9.45%
PM (TTM) 5.29%
GM 40.82%
OM growth 3Y-5.11%
OM growth 5Y8.09%
PM growth 3Y-17.53%
PM growth 5Y-43.52%
GM growth 3Y-3.65%
GM growth 5Y-1.33%
AKZA.AS Yearly Profit, Operating, Gross MarginsAKZA.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 20 40 60

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3

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so AKZA is still creating some value.
AKZA has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
AKZA.AS Yearly Shares OutstandingAKZA.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M
AKZA.AS Yearly Total Debt VS Total AssetsAKZA.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 5B 10B 15B

2.2 Solvency

An Altman-Z score of 2.06 indicates that AKZA is not a great score, but indicates only limited risk for bankruptcy at the moment.
AKZA has a Altman-Z score (2.06) which is in line with its industry peers.
AKZA has a debt to FCF ratio of 11.66. This is a negative value and a sign of low solvency as AKZA would need 11.66 years to pay back of all of its debts.
AKZA has a Debt to FCF ratio (11.66) which is comparable to the rest of the industry.
AKZA has a Debt/Equity ratio of 0.80. This is a neutral value indicating AKZA is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.80, AKZA is doing worse than 73.02% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.8
Debt/FCF 11.66
Altman-Z 2.06
ROIC/WACC1.19
WACC5.59%
AKZA.AS Yearly LT Debt VS Equity VS FCFAKZA.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2B 4B 6B 8B 10B

2.3 Liquidity

A Current Ratio of 1.21 indicates that AKZA should not have too much problems paying its short term obligations.
AKZA has a worse Current ratio (1.21) than 74.60% of its industry peers.
AKZA has a Quick Ratio of 1.21. This is a bad value and indicates that AKZA is not financially healthy enough and could expect problems in meeting its short term obligations.
AKZA has a worse Quick ratio (0.89) than 65.08% of its industry peers.
Industry RankSector Rank
Current Ratio 1.21
Quick Ratio 0.89
AKZA.AS Yearly Current Assets VS Current LiabilitesAKZA.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B 8B 10B

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3

3. Growth

3.1 Past

AKZA shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 26.71%, which is quite impressive.
AKZA shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 4.44% yearly.
EPS 1Y (TTM)26.71%
EPS 3Y-1.33%
EPS 5Y4.44%
EPS Q2Q%33.33%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%3.56%

3.2 Future

AKZA is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 7.71% yearly.
AKZA is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.23% yearly.
EPS Next Y15.87%
EPS Next 2Y13.78%
EPS Next 3Y10.97%
EPS Next 5Y7.71%
Revenue Next Year2.93%
Revenue Next 2Y2.84%
Revenue Next 3Y2.77%
Revenue Next 5Y3.23%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
AKZA.AS Yearly Revenue VS EstimatesAKZA.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 5B 10B 15B
AKZA.AS Yearly EPS VS EstimatesAKZA.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2 4 6

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6

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 15.78 indicates a correct valuation of AKZA.
84.13% of the companies in the same industry are more expensive than AKZA, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of AKZA to the average of the S&P500 Index (29.35), we can say AKZA is valued slightly cheaper.
With a Price/Forward Earnings ratio of 13.62, AKZA is valued correctly.
Based on the Price/Forward Earnings ratio, AKZA is valued a bit cheaper than 76.19% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.10. AKZA is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 15.78
Fwd PE 13.62
AKZA.AS Price Earnings VS Forward Price EarningsAKZA.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, AKZA is valued a bit cheaper than 65.08% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, AKZA is valued a bit cheaper than 71.43% of the companies in the same industry.
Industry RankSector Rank
P/FCF 19.56
EV/EBITDA 10.43
AKZA.AS Per share dataAKZA.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

AKZA's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of AKZA may justify a higher PE ratio.
PEG (NY)0.99
PEG (5Y)3.55
EPS Next 2Y13.78%
EPS Next 3Y10.97%

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3

5. Dividend

5.1 Amount

AKZA has a Yearly Dividend Yield of 3.21%. Purely for dividend investing, there may be better candidates out there.
AKZA's Dividend Yield is a higher than the industry average which is at 2.89.
AKZA's Dividend Yield is a higher than the S&P500 average which is at 2.33.
Industry RankSector Rank
Dividend Yield 3.21%

5.2 History

The dividend of AKZA decreases each year by -5.10%.
Dividend Growth(5Y)-5.1%
Div Incr Years0
Div Non Decr Years4
AKZA.AS Yearly Dividends per shareAKZA.AS Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6

5.3 Sustainability

65.12% of the earnings are spent on dividend by AKZA. This is not a sustainable payout ratio.
DP65.12%
EPS Next 2Y13.78%
EPS Next 3Y10.97%
AKZA.AS Yearly Income VS Free CF VS DividendAKZA.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2B 4B 6B
AKZA.AS Dividend Payout.AKZA.AS Dividend Payout, showing the Payout Ratio.AKZA.AS Dividend Payout.PayoutRetained Earnings

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AKZO NOBEL N.V.

AMS:AKZA (3/7/2025, 7:00:00 PM)

61.4

-0.22 (-0.36%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryChemicals
Earnings (Last)01-29 2025-01-29/bmo
Earnings (Next)04-23 2025-04-23
Inst Owners58.71%
Inst Owner ChangeN/A
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap10.49B
Analysts74.81
Price Target72.7 (18.4%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.21%
Yearly Dividend2.16
Dividend Growth(5Y)-5.1%
DP65.12%
Div Incr Years0
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-4.47%
Min EPS beat(2)-6.84%
Max EPS beat(2)-2.11%
EPS beat(4)1
Avg EPS beat(4)-4.82%
Min EPS beat(4)-37.45%
Max EPS beat(4)27.12%
EPS beat(8)2
Avg EPS beat(8)-11.92%
EPS beat(12)4
Avg EPS beat(12)-11.12%
EPS beat(16)6
Avg EPS beat(16)-6.35%
Revenue beat(2)0
Avg Revenue beat(2)-2.54%
Min Revenue beat(2)-4.61%
Max Revenue beat(2)-0.46%
Revenue beat(4)0
Avg Revenue beat(4)-1.41%
Min Revenue beat(4)-4.61%
Max Revenue beat(4)-0.19%
Revenue beat(8)2
Avg Revenue beat(8)-1.34%
Revenue beat(12)2
Avg Revenue beat(12)-1.55%
Revenue beat(16)3
Avg Revenue beat(16)-1.4%
PT rev (1m)-2.43%
PT rev (3m)-3.1%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-3.09%
EPS NY rev (1m)-0.03%
EPS NY rev (3m)-0.05%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.69%
Revenue NY rev (1m)-0.06%
Revenue NY rev (3m)-0.53%
Valuation
Industry RankSector Rank
PE 15.78
Fwd PE 13.62
P/S 0.99
P/FCF 19.56
P/OCF 12.45
P/B 2.29
P/tB 18.49
EV/EBITDA 10.43
EPS(TTM)3.89
EY6.34%
EPS(NY)4.51
Fwd EY7.34%
FCF(TTM)3.14
FCFY5.11%
OCF(TTM)4.93
OCFY8.03%
SpS62.19
BVpS26.8
TBVpS3.32
PEG (NY)0.99
PEG (5Y)3.55
Profitability
Industry RankSector Rank
ROA 3.66%
ROE 12.28%
ROCE 10.5%
ROIC 6.65%
ROICexc 8.61%
ROICexgc 18.86%
OM 9.45%
PM (TTM) 5.29%
GM 40.82%
FCFM 5.05%
ROA(3y)3.8%
ROA(5y)4.07%
ROE(3y)11.21%
ROE(5y)10.62%
ROIC(3y)5.81%
ROIC(5y)5.75%
ROICexc(3y)6.98%
ROICexc(5y)6.89%
ROICexgc(3y)12.89%
ROICexgc(5y)12.44%
ROCE(3y)10.64%
ROCE(5y)9.98%
ROICexcg growth 3Y7.31%
ROICexcg growth 5Y7.64%
ROICexc growth 3Y2.7%
ROICexc growth 5Y7.61%
OM growth 3Y-5.11%
OM growth 5Y8.09%
PM growth 3Y-17.53%
PM growth 5Y-43.52%
GM growth 3Y-3.65%
GM growth 5Y-1.33%
F-Score7
Asset Turnover0.69
Health
Industry RankSector Rank
Debt/Equity 0.8
Debt/FCF 11.66
Debt/EBITDA 2.67
Cap/Depr 82.7%
Cap/Sales 2.88%
Interest Coverage 5.55
Cash Conversion 61.28%
Profit Quality 95.37%
Current Ratio 1.21
Quick Ratio 0.89
Altman-Z 2.06
F-Score7
WACC5.59%
ROIC/WACC1.19
Cap/Depr(3y)80.5%
Cap/Depr(5y)74.48%
Cap/Sales(3y)2.79%
Cap/Sales(5y)2.74%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)26.71%
EPS 3Y-1.33%
EPS 5Y4.44%
EPS Q2Q%33.33%
EPS Next Y15.87%
EPS Next 2Y13.78%
EPS Next 3Y10.97%
EPS Next 5Y7.71%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%3.56%
Revenue Next Year2.93%
Revenue Next 2Y2.84%
Revenue Next 3Y2.77%
Revenue Next 5Y3.23%
EBIT growth 1Y9.37%
EBIT growth 3Y2.23%
EBIT growth 5Y11.21%
EBIT Next Year37.61%
EBIT Next 3Y16.79%
EBIT Next 5Y11.27%
FCF growth 1Y445.81%
FCF growth 3Y-4.55%
FCF growth 5Y18.76%
OCF growth 1Y501.43%
OCF growth 3Y-2.73%
OCF growth 5Y16.9%