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

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

54.7  +1.18 (+2.2%)

Fundamental Rating

4

Overall AKZA gets a fundamental rating of 4 out of 10. We evaluated AKZA against 60 industry peers in the Chemicals industry. AKZA has a medium profitability rating, but doesn't score so well on its financial health evaluation. AKZA is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

In the past year AKZA was profitable.
AKZA had a positive operating cash flow in the past year.
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

Looking at the Return On Assets, with a value of 3.66%, AKZA is in the better half of the industry, outperforming 64.91% of the companies in the same industry.
The Return On Equity of AKZA (12.28%) is better than 78.95% of its industry peers.
AKZA's Return On Invested Capital of 6.65% is fine compared to the rest of the industry. AKZA outperforms 73.68% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for AKZA is in line with the industry average of 6.58%.
The last Return On Invested Capital (6.65%) for AKZA is above the 3 year average (5.81%), which is a sign of increasing profitability.
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

With a decent Profit Margin value of 5.29%, AKZA is doing good in the industry, outperforming 70.18% of the companies in the same industry.
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 73.68% of its industry peers.
AKZA's Operating Margin has improved in the last couple of years.
AKZA's Gross Margin of 40.82% is in line compared to the rest of the industry. AKZA outperforms 59.65% 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

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), AKZA is 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 1.98 indicates that AKZA is not a great score, but indicates only limited risk for bankruptcy at the moment.
The Altman-Z score of AKZA (1.98) is comparable to the rest of the industry.
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.
Looking at the Debt to FCF ratio, with a value of 11.66, AKZA is in the better half of the industry, outperforming 61.40% of the companies in the same industry.
A Debt/Equity ratio of 0.80 indicates that AKZA is somewhat dependend on debt financing.
AKZA has a worse Debt to Equity ratio (0.80) than 77.19% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.8
Debt/FCF 11.66
Altman-Z 1.98
ROIC/WACC1.3
WACC5.1%
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

AKZA has a Current Ratio of 1.21. This is a normal value and indicates that AKZA is financially healthy and should not expect problems in meeting its short term obligations.
The Current ratio of AKZA (1.21) is worse than 85.96% of its industry peers.
A Quick Ratio of 0.89 indicates that AKZA may have some problems paying its short term obligations.
AKZA has a Quick ratio of 0.89. This is in the lower half of the industry: AKZA underperforms 73.68% 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 14.73%, which is quite good.
The Earnings Per Share has been growing slightly by 2.39% on average over the past years.
EPS 1Y (TTM)14.73%
EPS 3Y-4.55%
EPS 5Y2.39%
EPS Q2Q%-54.22%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%6.2%

3.2 Future

AKZA is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 9.87% yearly.
Based on estimates for the next years, AKZA will show a small growth in Revenue. The Revenue will grow by 3.21% on average per year.
EPS Next Y31.17%
EPS Next 2Y20.6%
EPS Next 3Y16.98%
EPS Next 5Y9.87%
Revenue Next Year2.57%
Revenue Next 2Y2.73%
Revenue Next 3Y4.21%
Revenue Next 5Y3.21%

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

With a Price/Earnings ratio of 15.54, AKZA is valued correctly.
Compared to the rest of the industry, the Price/Earnings ratio of AKZA indicates a somewhat cheap valuation: AKZA is cheaper than 75.44% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of AKZA to the average of the S&P500 Index (28.47), we can say AKZA is valued slightly cheaper.
The Price/Forward Earnings ratio is 11.84, which indicates a very decent valuation of AKZA.
Based on the Price/Forward Earnings ratio, AKZA is valued a bit cheaper than 77.19% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 92.74, AKZA is valued rather cheaply.
Industry RankSector Rank
PE 15.54
Fwd PE 11.84
AKZA.AS Price Earnings VS Forward Price EarningsAKZA.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

AKZA's Enterprise Value to EBITDA ratio is in line with the industry average.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of AKZA indicates a somewhat cheap valuation: AKZA is cheaper than 73.68% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 17.43
EV/EBITDA 9.45
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

The 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.
AKZA's earnings are expected to grow with 16.98% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.5
PEG (5Y)6.5
EPS Next 2Y20.6%
EPS Next 3Y16.98%

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4

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 3.51%, AKZA has a reasonable but not impressive dividend return.
AKZA's Dividend Yield is a higher than the industry average which is at 3.94.
AKZA's Dividend Yield is rather good when compared to the S&P500 average which is at 2.28.
Industry RankSector Rank
Dividend Yield 3.51%

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 2Y20.6%
EPS Next 3Y16.98%
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 (2/4/2025, 7:00:00 PM)

54.7

+1.18 (+2.2%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryChemicals
Earnings (Last)01-29 2025-01-29/bmo
Earnings (Next)N/A N/A
Inst Owners59.07%
Inst Owner ChangeN/A
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap9.34B
Analysts76.3
Price Target74.52 (36.23%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.51%
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)-0.6%
PT rev (3m)-0.38%
EPS NQ rev (1m)-3.64%
EPS NQ rev (3m)-8.72%
EPS NY rev (1m)-0.02%
EPS NY rev (3m)-0.02%
Revenue NQ rev (1m)-0.69%
Revenue NQ rev (3m)-0.96%
Revenue NY rev (1m)-0.47%
Revenue NY rev (3m)-0.47%
Valuation
Industry RankSector Rank
PE 15.54
Fwd PE 11.84
P/S 0.88
P/FCF 17.43
P/OCF 11.09
P/B 2.04
P/tB 16.48
EV/EBITDA 9.45
EPS(TTM)3.52
EY6.44%
EPS(NY)4.62
Fwd EY8.45%
FCF(TTM)3.14
FCFY5.74%
OCF(TTM)4.93
OCFY9.01%
SpS62.19
BVpS26.8
TBVpS3.32
PEG (NY)0.5
PEG (5Y)6.5
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 1.98
F-Score7
WACC5.1%
ROIC/WACC1.3
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)14.73%
EPS 3Y-4.55%
EPS 5Y2.39%
EPS Q2Q%-54.22%
EPS Next Y31.17%
EPS Next 2Y20.6%
EPS Next 3Y16.98%
EPS Next 5Y9.87%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%6.2%
Revenue Next Year2.57%
Revenue Next 2Y2.73%
Revenue Next 3Y4.21%
Revenue Next 5Y3.21%
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%