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Clariant

SWX:CLN
Snowflake Description

Adequate balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CLN
SWX
CHF5B
Market Cap
  1. Home
  2. CH
  3. Materials
Company description

Clariant AG, together with its subsidiaries, develops, manufactures, distributes, and sells specialty chemicals worldwide. The last earnings update was 22 days ago. More info.


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  • Clariant has significant price volatility in the past 3 months.
CLN Share Price and Events
7 Day Returns
3.9%
SWX:CLN
5.1%
CH Chemicals
10.7%
CH Market
1 Year Returns
-24%
SWX:CLN
9.7%
CH Chemicals
-5.9%
CH Market
CLN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Clariant (CLN) 3.9% -19.8% -24.7% -24% -13.7% -17.2%
CH Chemicals 5.1% -4.1% -8.9% 9.7% 25.4% 42.3%
CH Market 10.7% -7.3% -13.9% -5.9% 2.6% -1.1%
1 Year Return vs Industry and Market
  • CLN underperformed the Chemicals industry which returned 9.7% over the past year.
  • CLN underperformed the Market in Switzerland which returned -5.9% over the past year.
Price Volatility
CLN
Industry
5yr Volatility vs Market

Value

 Is Clariant 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 Clariant 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 Clariant.

SWX:CLN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.3%
Perpetual Growth Rate 10-Year CH Government Bond Rate -0.6%

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 SWX:CLN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CH Govt Bond Rate -0.6%
Equity Risk Premium S&P Global 5.4%
Chemicals Unlevered Beta Simply Wall St/ S&P Global 0.82
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.818 (1 + (1- 18%) (43.75%))
1.074
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.07
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.55% + (1.074 * 5.44%)
5.29%

Discounted Cash Flow Calculation for SWX:CLN using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Clariant 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.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

SWX:CLN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CHF, Millions) Source Present Value
Discounted (@ 5.29%)
2020 211.50 Analyst x4 200.87
2021 270.25 Analyst x4 243.76
2022 488.00 Analyst x1 418.03
2023 565.26 Est @ 15.83% 459.86
2024 626.98 Est @ 10.92% 484.42
2025 673.86 Est @ 7.48% 494.47
2026 708.02 Est @ 5.07% 493.41
2027 731.98 Est @ 3.38% 484.46
2028 748.11 Est @ 2.2% 470.23
2029 758.41 Est @ 1.38% 452.74
Present value of next 10 years cash flows CHF4,202.00
SWX:CLN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CHF758.41 × (1 + -0.55%) ÷ (5.29% – -0.55%)
CHF12,905.20
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CHF12,905.20 ÷ (1 + 5.29%)10
CHF7,703.87
SWX:CLN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CHF4,202.00 + CHF7,703.87
CHF11,905.87
Equity Value per Share
(CHF)
= Total value / Shares Outstanding
= CHF11,905.87 / 329.35
CHF36.15
SWX:CLN Discount to Share Price
Calculation Result
Value per share (CHF) From above. CHF36.15
Current discount Discount to share price of CHF16.27
= -1 x (CHF16.27 - CHF36.15) / CHF36.15
55%

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

Current Discount
Amount off the current price Clariant is available for.
Intrinsic value
>50%
Share price is CHF16.27 vs Future cash flow value of CHF36.15
Current Discount Checks
For Clariant to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Clariant's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Clariant's share price is below the future cash flow value, and 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 Clariant's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Clariant's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SWX:CLN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CHF CHF-0.19
SWX:CLN Share Price ** SWX (2020-03-31) in CHF CHF16.27
Switzerland Chemicals Industry PE Ratio Median Figure of 5 Publicly-Listed Chemicals Companies 27.4x
Switzerland Market PE Ratio Median Figure of 175 Publicly-Listed Companies 16.61x

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

** Primary Listing of Clariant.

SWX:CLN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SWX:CLN Share Price ÷ EPS (both in CHF)

= 16.27 ÷ -0.19

-86.47x

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

  • Clariant is loss making, we can't compare its value to the CH Chemicals industry average.
  • Clariant is loss making, we can't compare the value of its earnings to the Switzerland market.
Price based on expected Growth
Does Clariant's expected growth come at a high price?
Raw Data
SWX:CLN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -86.47x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
36.1%per year
Europe Chemicals Industry PEG Ratio Median Figure of 59 Publicly-Listed Chemicals Companies 1.13x
Switzerland Market PEG Ratio Median Figure of 125 Publicly-Listed Companies 1.69x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Clariant, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Clariant's assets?
Raw Data
SWX:CLN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CHF CHF7.61
SWX:CLN Share Price * SWX (2020-03-31) in CHF CHF16.27
Switzerland Chemicals Industry PB Ratio Median Figure of 7 Publicly-Listed Chemicals Companies 3.53x
Switzerland Market PB Ratio Median Figure of 216 Publicly-Listed Companies 1.33x
SWX:CLN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SWX:CLN Share Price ÷ Book Value per Share (both in CHF)

= 16.27 ÷ 7.61

2.14x

* Primary Listing of Clariant.

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

  • Clariant is good value based on assets compared to the CH Chemicals industry average.
X
Value checks
We assess Clariant'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. Clariant 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 Clariant expected to perform in the next 1 to 3 years based on estimates from 14 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
36.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Clariant expected to grow at an attractive rate?
  • Clariant's earnings growth is expected to exceed the low risk savings rate of -0.6%.
Growth vs Market Checks
  • Clariant's earnings growth is expected to exceed the Switzerland market average.
  • Clariant's revenue growth is expected to exceed the Switzerland market average.
Annual Growth Rates Comparison
Raw Data
SWX:CLN Future Growth Rates Data Sources
Data Point Source Value (per year)
SWX:CLN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 36.1%
SWX:CLN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 3.4%
Switzerland Chemicals Industry Earnings Growth Rate Market Cap Weighted Average 11.9%
Switzerland Chemicals Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
Switzerland Market Earnings Growth Rate Market Cap Weighted Average 8.7%
Switzerland Market Revenue Growth Rate Market Cap Weighted Average 2.3%

*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
SWX:CLN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SWX:CLN Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 5,310 3
2023-12-31 4,971 270 4
2022-12-31 4,693 597 314 8
2021-12-31 4,528 551 310 14
2020-12-31 4,337 497 279 14
2020-03-31
SWX:CLN Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2019-12-31 4,399 509 -62
2019-06-30 6,628 541 80
2019-03-31 6,626 536 209
2018-12-31 4,404 530 194
2018-09-30 4,937 223
2018-06-30 5,469 414 251
2018-03-31 5,923 421 264
2017-12-31 6,377 428 277
2017-09-30 6,229 491 276
2017-06-30 6,080 554 274
2017-03-31 5,964 600 264

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Clariant's earnings are expected to grow significantly at over 20% yearly.
  • Clariant's revenue is expected to grow by 3.4% 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
SWX:CLN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

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

SWX:CLN Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31 0.82 0.82 0.82 1.00
2022-12-31 0.89 1.20 0.52 5.00
2021-12-31 0.95 1.37 0.56 12.00
2020-12-31 0.78 1.05 0.48 9.00
2020-03-31
SWX:CLN Past Financials Data
Date (Data in CHF Millions) EPS *
2019-12-31 -0.19
2019-06-30 0.24
2019-03-31 0.63
2018-12-31 0.59
2018-09-30 0.68
2018-06-30 0.76
2018-03-31 0.80
2017-12-31 0.84
2017-09-30 0.84
2017-06-30 0.84
2017-03-31 0.81

*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.
  • Clariant is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Clariant'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 Switzerland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Switzerland 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.
Clariant has a total score of 4/6, 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 Clariant 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 Clariant'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.
  • Clariant does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Clariant's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Clariant's 1-year growth to the CH Chemicals industry average as it is not currently profitable.
Earnings and Revenue History
Clariant'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 Clariant Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:CLN Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 4,399.00 -62.00 1,027.00 175.00
2019-06-30 6,628.00 80.00 1,251.00 210.00
2019-03-31 6,625.50 208.50 1,246.50 209.00
2018-12-31 4,404.00 194.00 856.00 174.00
2018-09-30 4,936.50 222.50 921.50 182.00
2018-06-30 5,469.00 251.00 987.00 190.00
2018-03-31 5,923.00 264.00 1,072.00 196.50
2017-12-31 6,377.00 277.00 1,157.00 203.00
2017-09-30 6,228.50 275.50 1,129.50 201.00
2017-06-30 6,080.00 274.00 1,102.00 199.00
2017-03-31 5,963.50 263.50 1,093.00 199.00
2016-12-31 5,847.00 253.00 1,084.00 199.00
2016-09-30 5,899.00 211.00 1,082.50 208.00
2016-06-30 5,835.00 203.00 1,092.00 208.00
2016-03-31 5,791.50 194.50 1,062.50 206.50
2015-12-31 5,807.00 217.00 1,067.00 204.00
2015-09-30 5,867.00 275.00 1,064.00 199.00
2015-06-30 5,964.00 272.00 1,061.00 203.00
2015-03-31 6,089.00 299.00 1,076.00 208.00
2014-12-31 6,116.00 175.00 1,049.00 213.00
2014-09-30 6,093.00 177.00 1,058.00 212.00
2014-06-30 6,029.00 245.00 1,024.00 208.00
2014-03-31 6,042.00 231.00 1,039.00 203.00
2013-12-31 6,076.00 306.00 1,049.00 199.00
2013-09-30 6,022.00 309.00 1,023.00 197.00
2013-06-30 6,068.00 230.00 1,065.00 188.00

*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.
  • It is difficult to establish if Clariant has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Clariant used its assets less efficiently than the CH Chemicals industry average last year based on Return on Assets.
  • It is difficult to establish if Clariant improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Clariant'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.
Clariant 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.

Health

 How is Clariant'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 Clariant's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Clariant is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Clariant's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Clariant'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 1.9x 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 Clariant Company Filings, last reported 3 months ago.

SWX:CLN Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 2,677.00 2,072.00 942.00
2019-06-30 2,629.00 2,125.00 576.00
2019-03-31 2,629.00 2,125.00 576.00
2018-12-31 2,970.00 2,223.00 925.00
2018-09-30 2,970.00 2,223.00 925.00
2018-06-30 2,986.00 2,284.00 569.00
2018-03-31 2,986.00 2,284.00 569.00
2017-12-31 2,939.00 2,294.00 810.00
2017-09-30 2,939.00 2,294.00 810.00
2017-06-30 2,647.00 2,221.00 631.00
2017-03-31 2,647.00 2,221.00 631.00
2016-12-31 2,546.00 2,865.00 1,367.00
2016-09-30 2,546.00 2,865.00 1,367.00
2016-06-30 2,362.00 2,534.00 1,007.00
2016-03-31 2,362.00 2,534.00 1,007.00
2015-12-31 2,494.00 2,253.00 989.00
2015-09-30 2,497.00 2,506.00 1,108.00
2015-06-30 2,318.00 2,404.00 1,057.00
2015-03-31 2,331.00 2,113.00 940.00
2014-12-31 2,733.00 2,191.00 928.00
2014-09-30 2,663.00 2,400.00 792.00
2014-06-30 2,634.00 2,439.00 820.00
2014-03-31 2,597.00 2,414.00 852.00
2013-12-31 2,780.00 2,419.00 991.00
2013-09-30 2,738.00 2,490.00 799.00
2013-06-30 2,961.00 2,545.00 600.00
  • Clariant's level of debt (77.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (80.3% vs 77.4% today).
  • Debt is well covered by operating cash flow (24.6%, greater than 20% of total debt).
  • Clariant is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Clariant'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. Clariant has a total score of 4/6, 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 Clariant'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
3.38%
Current annual income from Clariant dividends. Estimated to be 4.74% next year.
If you bought CHF2,000 of Clariant shares you are expected to receive CHF68 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?
  • Clariant's pays a higher dividend yield than the bottom 25% of dividend payers in Switzerland (2.11%).
  • Clariant's dividend is below the markets top 25% of dividend payers in Switzerland (4.26%).
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
SWX:CLN 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 14 Analyst Estimates (S&P Global) See Below
Switzerland Chemicals Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 2.2%
Switzerland Market Average Dividend Yield Market Cap Weighted Average of 159 Stocks 3.3%
Switzerland Minimum Threshold Dividend Yield 10th Percentile 1.3%
Switzerland Bottom 25% Dividend Yield 25th Percentile 2.1%
Switzerland Top 25% Dividend Yield 75th Percentile 4.3%

Industry and Market average data is calculated daily.

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

SWX:CLN Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31 0.53 1.00
2022-12-31 0.57 7.00
2021-12-31 0.60 14.00
2020-12-31 1.22 9.00
2020-03-31
SWX:CLN Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2020-03-09 0.550 3.384
2019-04-01 0.550 2.732
2018-03-19 0.500 2.251
2017-02-27 0.450 1.977
2017-02-16 0.450 2.364
2016-03-21 0.400 2.332
2016-02-17 0.400 2.373
2015-08-12 0.400 2.274
2014-02-28 0.360 2.053
2013-03-27 0.330 2.195
2012-02-13 0.300 2.630
2010-02-16 0.000 0.000
2009-11-04 0.000 0.000
2009-07-30 0.000 0.000
2009-05-06 0.000 0.000

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

  • Whilst dividend payments have been stable, Clariant has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Clariant only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Clariant's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).
X
Income/ dividend checks
We assess Clariant's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 Clariant afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Clariant has a total score of 2/6, 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 Clariant'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.
  • Clariant has no CEO, or we have no data on them.
Management Team

Hariolf Kottmann

TITLE
Executive Chairman
COMPENSATION
CHF789K
AGE
64

Patrick Jany

TITLE
Chief Financial Officer
COMPENSATION
CHF2M
AGE
51
TENURE
14.2 yrs

Hans Bohnen

TITLE
Chief Operating Officer
TENURE
0.7 yrs

Martin Vollmer

TITLE
CTO and Head of Group Technology & Innovation

Maria Ivek

TITLE
Senior Investor Relations Officer

Alfred Muench

TITLE
Head of Legal Department
AGE
59

Kai Rolker

TITLE
Head of Corporate Communications

Vincent Gass

TITLE
Head of Global Marketing

Klementina Pejic

TITLE
Head of Group Human Resources

Renaud Spitz

TITLE
Country Head of Switzerland
Board of Directors Tenure

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

3.8
Average Tenure
60.5
Average Age
  • The tenure for the Clariant board of directors is about average.
Board of Directors

Hariolf Kottmann

TITLE
Executive Chairman
COMPENSATION
CHF789K
AGE
64
TENURE
1.4 yrs

Khaled Homza Nahas

TITLE
Independent Vice Chairman
COMPENSATION
CHF345K
AGE
70
TENURE
2.2 yrs

Eveline Saupper

TITLE
Independent Lead Director
COMPENSATION
CHF445K
AGE
61
TENURE
0.7 yrs

Peter Steiner

TITLE
Independent Non-Executive Director
COMPENSATION
CHF360K
AGE
60
TENURE
3.8 yrs

Carlo Soave

TITLE
Independent Non Executive Director
COMPENSATION
CHF337K
AGE
59
TENURE
11.8 yrs

Konstantin Winterstein

TITLE
Independent Non Executive Director
COMPENSATION
CHF290K
AGE
50
TENURE
9.2 yrs

Günter von Au

TITLE
Independent Non-Executive Director
COMPENSATION
CHF309K
AGE
68
TENURE
9.2 yrs

Susanne Wamsler

TITLE
Independent Non-Executive Director
COMPENSATION
CHF300K
AGE
58
TENURE
5 yrs

Claudia Dyckerhoff

TITLE
Independent Non-Executive Director
COMPENSATION
CHF299K
AGE
52
TENURE
3.8 yrs

Abdullah Alissa

TITLE
Independent Director
COMPENSATION
CHF296K
AGE
63
TENURE
1.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CHF) Value (CHF)
X
Management checks
We assess Clariant'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. Clariant 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

Does Clariant AG's (VTX:CLN) Past Performance Indicate A Stronger Future?

Investors with a long-term horizong may find it valuable to assess Clariant AG's (VTX:CLN) earnings trend over time and against its industry benchmark as opposed to simply looking at a sincle earnings announcement at one point in time. … CLN's trailing twelve-month earnings (from 30 June 2018) of CHF332m has … Furthermore, this one-year growth rate has exceeded its 5-year annual growth average of 3.1%, indicating the rate at which CLN is growing has accelerated

Simply Wall St -

Clariant AG (VTX:CLN)'s Return on Capital

and want to better understand how you can grow your money by investing in Clariant AG (VTX:CLN). … Thus, to understand how your money can grow by investing in Clariant, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE) … What is Return on Capital Employed (ROCE)?

Simply Wall St -

Why Clariant AG's (VTX:CLN) ROE Of 12.1% Does Not Tell The Whole Story

and want to learn about Return on Equity using a real-life example. … Clariant AG (VTX:CLN) performed in line with its specialty chemicals industry on the basis of its ROE – producing a return of 12.1% relative to the peer average of 14.4% over the past 12 months. … Breaking down Return on Equity

Simply Wall St -

Where Clariant AG (VTX:CLN) Stands In Terms Of Earnings Growth Against Its Industry

After looking at Clariant AG's (VTX:CLN) latest earnings announcement (31 December 2017), I found it useful to revisit the company's performance in the past couple of years and assess this against the most recent figures. … As a long-term investor I tend to focus on earnings trend, rather than a single number at one point in time. … CLN's trailing twelve-month earnings (from 31 December 2017) of CHF277.00m has

Simply Wall St -

Estimating The Intrinsic Value Of Clariant AG (VTX:CLN)

by taking the expected future cash flows and discounting them to their present value. … Discounted Cash Flows (DCF). … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

Simply Wall St -

Is Clariant AG (VTX:CLN) A Sell At Its Current PE Ratio?

and want to better understand how you can grow your money by investing in Clariant AG (VTX:CLN). … Clariant AG (VTX:CLN) trades with a trailing P/E of 28.4x, which is higher than the industry average of 26x. … While CLN might seem like a stock to avoid or sell if you own it, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions

Simply Wall St -

How Clariant AG (SWX:CLN) Can Add Value To Your Portfolio

I've been keeping an eye on Clariant AG (SWX:CLN) because I'm attracted to its fundamentals. … Looking at the company as a whole, as a potential stock investment, I believe CLN has a lot to offer. … that has been able to sustain great financial health over the past

Simply Wall St -

Clariant AG (SWX:CLN): What's The Analyst Consensus Outlook?

The latest earnings update Clariant AG (SWX:CLN) released in December 2017a … showed … company

Simply Wall St -

Have Investors Priced In Clariant AG's (VTX:CLN) Growth?

Clariant is available at price-to-earnings ratio of 28.55x, showing us it is overvalued based on current earnings compared to the chemicals industry average of 27.21x , and overvalued compared to the CH market average ratio of 22.3x. … SWX:CLN PE PEG Gauge May 16th 18 We understand CLN seems to be overvalued based on its current earnings, compared to its industry peers. … So, when we include the growth factor in our analysis, Clariant appears a bit overvalued , based on its fundamentals.

Simply Wall St -

What Is Driving Clariant AG's (VTX:CLN) Margins In The Years Ahead?

To help investors get a top level understanding, I will try to evaluate Clariant's margin behaviour to assist in analysing the revenue and cost anatomy behind the earnings expectations for the future and the impact it has on shareholder returns relative to the wider industry. … Margin Calculation for CLN Profit Margin = Net Income ÷ Revenue ∴ Profit Margin = 277.00 Million ÷ 6.38 Billion = 4.34% There has been an expansion in Clariant's margin over the past five years, due to average net income growth of 4.39% exceeding a 0.20% average growth in revenue, indicating that that the previous revenue growth has been acompanied by a growing portion translated in to earnings. … Understanding what could be driving Clariant's future earnings Margins are expected to further the previous expansion, with an expectation of 4.34% in annual revenue growth and 15.15% earnings growth expected annually.

Simply Wall St -

Company Info

Description

Clariant AG, together with its subsidiaries, develops, manufactures, distributes, and sells specialty chemicals worldwide. It operates in four segments: Care Chemicals, Catalysis, Natural Resources, and Plastics & Coatings. The company offers flame retardants, performance additives, and advanced surface solutions for use in plastics, coatings, inks, and other applications; and catalysts for the petrochemical and refining, synthesis gas, chemical, emissions control, specialty zeolites and zeolite-based, and custom catalyst markets. It also provides bentonite based specialty products for the oil purification, foundry additive, desiccant, oxygen absorber, humidity, sediment management, civil engineering, waste water treatment, clay specialties, paper and detergent additive, PVC stabilizer, BTX-catalyst, and kerosene and jet fuel purification industries. In addition, the company offers industrial and consumer specialty chemicals and application solutions for the automotive brake fluid and coolant, aircraft anti-itching and deicing fluid, construction chemical, agrochemical, gas treatment, heat transfer fluid, home care, industrial and institutional cleaning, industrial lubricant additive, special solvent, paint and coating, and personal care and cosmetic ingredient markets. Further, it provides masterbatches for the agriculture, consumer goods, healthcare packaging, healthcare polymer solutions, packaging, fibers, and transportation markets; oil, mining, and refinery services to the oil and mining industries; and organic pigments, pigment preparations, and dyes for coatings, printing, plastics, consumer products, non-impact printing, and other special applications. Additionally, the company offers biotech and bio-based chemicals; electronic materials; food ingredients; VitiSpheres encapsulated active ingredients; and 3D printing filaments. Clariant AG was founded in 1886 and is headquartered in Muttenz, Switzerland.

Details
Name: Clariant AG
CLN
Exchange: SWX
Founded: 1886
CHF5,231,763,414
329,352,434
Website: http://www.clariant.com
Address: Clariant AG
Rothausstrasse 61,
Muttenz,
Basel-Landschaft, 4132,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX CLN Ordinary Shares SIX Swiss Exchange CH CHF 30. Jun 1995
OTCPK CLZN.F Ordinary Shares Pink Sheets LLC US USD 30. Jun 1995
DB CLRN Ordinary Shares Deutsche Boerse AG DE EUR 30. Jun 1995
XTRA CLRN Ordinary Shares XETRA Trading Platform DE EUR 30. Jun 1995
LSE 0QJS Ordinary Shares London Stock Exchange GB CHF 30. Jun 1995
OTCPK CLZN.Y ADR EACH REPR 1 COM Pink Sheets LLC US USD 06. Oct 2008
DB CLRS ADR EACH REPR 1 COM Deutsche Boerse AG DE EUR 06. Oct 2008
Number of employees
Current staff
Staff numbers
11,941
Clariant employees.
Industry
Specialty Chemicals
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/31 20:58
End of day share price update: 2020/03/31 00:00
Last estimates confirmation: 2020/03/31
Last earnings filing: 2020/03/09
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.