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EMS-CHEMIE HOLDING

SWX:EMSN
Snowflake Description

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

The Snowflake is generated from 30 checks in 5 different areas, read more below.
EMSN
SWX
CHF14B
Market Cap
  1. Home
  2. CH
  3. Materials
Company description

EMS-CHEMIE HOLDING AG engages in the high performance polymers and specialty chemicals businesses worldwide. The last earnings update was 218 days ago. More info.


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EMSN Share Price and Events
7 Day Returns
3.8%
SWX:EMSN
5.1%
CH Chemicals
10.7%
CH Market
1 Year Returns
11.1%
SWX:EMSN
9.7%
CH Chemicals
-5.9%
CH Market
EMSN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
EMS-CHEMIE HOLDING (EMSN) 3.8% 8% -4.4% 11.1% 2.6% 49.8%
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
  • EMSN outperformed the Chemicals industry which returned 9.7% over the past year.
  • EMSN outperformed the Market in Switzerland which returned -5.9% over the past year.
Price Volatility
EMSN
Industry
5yr Volatility vs Market

Value

 Is EMS-CHEMIE HOLDING 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 EMS-CHEMIE HOLDING 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 EMS-CHEMIE HOLDING.

SWX:EMSN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 4.2%
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:EMSN
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%) (0.2%))
0.879
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.88
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.55% + (0.879 * 5.44%)
4.23%

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

The calculations below outline how an intrinsic value for EMS-CHEMIE HOLDING 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:EMSN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CHF, Millions) Source Present Value
Discounted (@ 4.23%)
2020 528.86 Analyst x3 507.40
2021 499.76 Analyst x4 460.02
2022 538.87 Analyst x2 475.89
2023 548.76 Analyst x1 464.95
2024 573.77 Analyst x1 466.41
2025 589.25 Est @ 2.7% 459.55
2026 599.41 Est @ 1.72% 448.50
2027 605.65 Est @ 1.04% 434.78
2028 609.07 Est @ 0.56% 419.49
2029 610.47 Est @ 0.23% 403.39
Present value of next 10 years cash flows CHF4,540.00
SWX:EMSN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CHF610.47 × (1 + -0.55%) ÷ (4.23% – -0.55%)
CHF12,700.49
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CHF12,700.49 ÷ (1 + 4.23%)10
CHF8,392.34
SWX:EMSN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CHF4,540.00 + CHF8,392.34
CHF12,932.34
Equity Value per Share
(CHF)
= Total value / Shares Outstanding
= CHF12,932.34 / 23.39
CHF552.92
SWX:EMSN Discount to Share Price
Calculation Result
Value per share (CHF) From above. CHF552.92
Current discount Discount to share price of CHF608.50
= -1 x (CHF608.50 - CHF552.92) / CHF552.92
-10.1%

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

  • The current share price of EMS-CHEMIE HOLDING 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 EMS-CHEMIE HOLDING's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are EMS-CHEMIE HOLDING's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SWX:EMSN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in CHF CHF22.52
SWX:EMSN Share Price ** SWX (2020-03-31) in CHF CHF608.5
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 EMS-CHEMIE HOLDING.

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

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

= 608.5 ÷ 22.52

27.03x

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

  • EMS-CHEMIE HOLDING is good value based on earnings compared to the CH Chemicals industry average.
  • EMS-CHEMIE HOLDING is overvalued based on earnings compared to the Switzerland market.
Price based on expected Growth
Does EMS-CHEMIE HOLDING's expected growth come at a high price?
Raw Data
SWX:EMSN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 27.03x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
2.6%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 .

SWX:EMSN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 27.03x ÷ 2.6%

10.25x

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

  • EMS-CHEMIE HOLDING is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on EMS-CHEMIE HOLDING's assets?
Raw Data
SWX:EMSN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in CHF CHF79.99
SWX:EMSN Share Price * SWX (2020-03-31) in CHF CHF608.5
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:EMSN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 608.5 ÷ 79.99

7.61x

* Primary Listing of EMS-CHEMIE HOLDING.

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

  • EMS-CHEMIE HOLDING is overvalued based on assets compared to the CH Chemicals industry average.
X
Value checks
We assess EMS-CHEMIE HOLDING'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. EMS-CHEMIE HOLDING has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

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

Future Performance

 How is EMS-CHEMIE HOLDING expected to perform in the next 1 to 3 years based on estimates from 7 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
2.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is EMS-CHEMIE HOLDING expected to grow at an attractive rate?
  • EMS-CHEMIE HOLDING's earnings growth is expected to exceed the low risk savings rate of -0.6%.
Growth vs Market Checks
  • EMS-CHEMIE HOLDING's earnings growth is positive but not above the Switzerland market average.
  • EMS-CHEMIE HOLDING's revenue growth is expected to exceed the Switzerland market average.
Annual Growth Rates Comparison
Raw Data
SWX:EMSN Future Growth Rates Data Sources
Data Point Source Value (per year)
SWX:EMSN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 2.6%
SWX:EMSN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 2.8%
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:EMSN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SWX:EMSN Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 2,558 670 1
2023-12-31 2,448 641 1
2022-12-31 2,351 628 569 3
2021-12-31 2,277 591 542 7
2020-12-31 2,141 584 522 6
2020-03-31
2019-12-31 2,173 611 517 7
SWX:EMSN Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2019-06-30 2,305 529 527
2019-03-31 2,327 514 523
2018-12-31 2,350 499 520
2018-09-30 2,330 509 517
2018-06-30 2,310 520 515
2018-03-31 2,243 481 498
2017-12-31 2,177 443 482
2017-09-30 2,126 446 471
2017-06-30 2,076 449 461
2017-03-31 2,044 468 455
2016-12-31 2,012 486 449
2016-09-30 1,987 467 428

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • EMS-CHEMIE HOLDING's earnings are expected to grow by 2.6% yearly, however this is not considered high growth (20% yearly).
  • EMS-CHEMIE HOLDING's revenue is expected to grow by 2.8% 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:EMSN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from EMS-CHEMIE HOLDING Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:EMSN Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 24.27 24.80 23.73 2.00
2021-12-31 23.15 24.30 21.59 5.00
2020-12-31 22.30 22.80 21.37 4.00
2020-03-31
2019-12-31 22.05 22.19 21.88 5.00
SWX:EMSN Past Financials Data
Date (Data in CHF Millions) EPS *
2019-06-30 22.52
2019-03-31 22.37
2018-12-31 22.22
2018-09-30 22.11
2018-06-30 22.00
2018-03-31 21.29
2017-12-31 20.59
2017-09-30 20.15
2017-06-30 19.70
2017-03-31 19.45
2016-12-31 19.19
2016-09-30 18.30

*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.
  • EMS-CHEMIE HOLDING is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess EMS-CHEMIE HOLDING'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.
EMS-CHEMIE HOLDING has a total score of 3/6, 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 EMS-CHEMIE HOLDING performed over the past 5 years?

  • EMS-CHEMIE HOLDING's last earnings update was 218 days ago.
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 EMS-CHEMIE HOLDING'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.
  • EMS-CHEMIE HOLDING's year on year earnings growth rate has been positive over the past 5 years.
  • EMS-CHEMIE HOLDING's 1-year earnings growth is less than its 5-year average (2.4% vs 10.3%)
  • EMS-CHEMIE HOLDING's earnings growth has not exceeded the CH Chemicals industry average in the past year (2.4% vs 10.1%).
Earnings and Revenue History
EMS-CHEMIE HOLDING'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 EMS-CHEMIE HOLDING Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:EMSN Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 2,304.58 526.62 253.70
2019-03-31 2,327.08 523.12 253.70
2018-12-31 2,349.58 519.62 253.70
2018-09-30 2,329.58 517.06 243.67
2018-06-30 2,309.57 514.51 233.64
2018-03-31 2,243.07 498.01 233.64
2017-12-31 2,176.57 481.51 233.64
2017-09-30 2,126.24 471.13 235.94
2017-06-30 2,075.90 460.76 238.24
2017-03-31 2,043.90 454.76 238.24
2016-12-31 2,011.90 448.76 238.24
2016-09-30 1,986.90 428.00 235.15
2016-06-30 1,961.90 407.25 232.06
2016-03-31 1,946.90 391.75 232.06
2015-12-31 1,931.90 376.25 232.06
2015-09-30 1,943.73 360.06 244.10
2015-06-30 1,955.55 343.87 256.13
2015-03-31 1,979.05 343.37 256.13
2014-12-31 2,002.55 342.87 256.13
2014-09-30 1,993.72 344.24 244.10
2014-06-30 1,984.88 345.62 232.07
2014-03-31 1,951.88 331.62 232.07
2013-12-31 1,918.88 317.62 232.07
2013-09-30 1,868.30 299.75 224.25
2013-06-30 1,817.71 281.89 216.42

*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.
  • EMS-CHEMIE HOLDING has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • EMS-CHEMIE HOLDING used its assets more efficiently than the CH Chemicals industry average last year based on Return on Assets.
  • EMS-CHEMIE HOLDING has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess EMS-CHEMIE HOLDING'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.
EMS-CHEMIE HOLDING 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 EMS-CHEMIE HOLDING'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 EMS-CHEMIE HOLDING's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • EMS-CHEMIE HOLDING is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • EMS-CHEMIE HOLDING's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of EMS-CHEMIE HOLDING'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 163.5x 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 EMS-CHEMIE HOLDING Company Filings, last reported 9 months ago.

SWX:EMSN Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 1,891.00 11.00 361.00
2019-03-31 1,891.00 11.00 361.00
2018-12-31 1,644.66 5.49 288.28
2018-09-30 1,644.66 5.49 288.28
2018-06-30 1,822.00 5.00 467.00
2018-03-31 1,822.00 5.00 467.00
2017-12-31 1,550.41 12.53 302.92
2017-09-30 1,550.41 12.53 302.92
2017-06-30 1,662.00 8.00 371.00
2017-03-31 1,662.00 8.00 371.00
2016-12-31 1,427.78 12.02 431.97
2016-09-30 1,427.78 12.02 431.97
2016-06-30 1,507.00 0.00 491.00
2016-03-31 1,507.00 0.00 491.00
2015-12-31 1,311.81 4.15 469.89
2015-09-30 1,311.81 4.15 469.89
2015-06-30 1,389.00 0.00 432.00
2015-03-31 1,389.00 0.00 432.00
2014-12-31 1,268.21 11.64 535.85
2014-09-30 1,268.21 11.64 535.85
2014-06-30 1,390.00 0.00 526.00
2014-03-31 1,390.00 0.00 526.00
2013-12-31 1,199.31 100.04 440.71
2013-09-30 1,199.31 100.04 440.71
2013-06-30 1,286.00 100.00 549.00
  • EMS-CHEMIE HOLDING's level of debt (0.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 0.6% today).
  • Debt is well covered by operating cash flow (4812%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 1406.9x coverage).
X
Financial health checks
We assess EMS-CHEMIE HOLDING'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. EMS-CHEMIE HOLDING has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

Dividends

 What is EMS-CHEMIE HOLDING'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
3.25%
Current annual income from EMS-CHEMIE HOLDING dividends. Estimated to be 3.56% next year.
If you bought CHF2,000 of EMS-CHEMIE HOLDING shares you are expected to receive CHF65 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?
  • EMS-CHEMIE HOLDING's pays a higher dividend yield than the bottom 25% of dividend payers in Switzerland (2.11%).
  • EMS-CHEMIE HOLDING'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:EMSN 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 7 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:EMSN Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 22.77 3.00
2021-12-31 21.93 6.00
2020-12-31 21.01 7.00
2020-03-31
2019-12-31 20.29 7.00
SWX:EMSN Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2019-03-27 19.750 3.242
2019-02-08 19.750 3.488
2018-08-27 18.500 3.441
2018-03-29 18.500 2.973
2018-02-09 18.500 3.018
2017-03-29 17.000 2.584
2017-02-10 17.000 2.950
2015-03-30 12.000 2.699
2015-02-06 12.000 2.925
2014-02-07 11.000 3.058
2013-03-27 7.500 2.482
2013-02-08 7.500 2.827
2012-03-30 7.000 3.598
2012-02-10 7.000 4.054
2011-07-18 6.500 4.087
2010-03-31 5.000 3.151
2010-02-12 5.000 3.664

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 EMS-CHEMIE HOLDING's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess EMS-CHEMIE HOLDING'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 EMS-CHEMIE HOLDING afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. EMS-CHEMIE HOLDING 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 EMS-CHEMIE HOLDING'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
Magdalena Martullo-Blocher
COMPENSATION CHF0
AGE 50
TENURE AS CEO 16.2 years
CEO Bio

Ms. Magdalena Martullo-Blocher has been the Chief Executive Officer of EMS-Chemie Holding AG since January 1, 2004 and serves as its Member of Executive Management. Ms. Martullo-Blocher has been a Vice Chairman of Ems-chemie Holding Ag since August 2002. She served as Deputy Chairman of Ems-chemie Holding Ag and has been its Director since August 18, 2001. She joined EMS Group in January 1, 2001.

CEO Compensation
  • Magdalena's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Magdalena's remuneration is lower than average for companies of similar size in Switzerland.
Management Team Tenure

Average tenure and age of the EMS-CHEMIE HOLDING management team in years:

3.4
Average Tenure
50
Average Age
  • The tenure for the EMS-CHEMIE HOLDING management team is about average.
Management Team

Magdalena Martullo-Blocher

TITLE
Vice-Chairman
AGE
50
TENURE
16.2 yrs

Stefan Baumgärtner

TITLE
CFO & Member of Executive Management
AGE
48
TENURE
2.4 yrs

Peter Germann

TITLE
Member of Executive Management
AGE
60
TENURE
3.4 yrs
Board of Directors Tenure

Average tenure and age of the EMS-CHEMIE HOLDING board of directors in years:

6.6
Average Tenure
60
Average Age
  • The tenure for the EMS-CHEMIE HOLDING board of directors is about average.
Board of Directors

Ulf Berg

TITLE
Non-Executive Chairman
AGE
69
TENURE
12.6 yrs

Magdalena Martullo-Blocher

TITLE
Vice-Chairman
AGE
50
TENURE
17.6 yrs

Joachim Streu

TITLE
Non-Executive Director
AGE
63
TENURE
6.6 yrs

Bernhard Merki

TITLE
Non-Executive Director
AGE
57
TENURE
5.6 yrs

Christoph Mäder

TITLE
Non-Executive Director
AGE
60
TENURE
1.6 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 EMS-CHEMIE HOLDING'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. EMS-CHEMIE HOLDING 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

Can You Imagine How EMS-CHEMIE HOLDING's (VTX:EMSN) Shareholders Feel About The 42% Share Price Increase?

For example, the EMS-CHEMIE HOLDING AG (VTX:EMSN) share price is up 42% in the last 5 years, clearly besting than the market return of around 12% (ignoring dividends). … We note that for EMS-CHEMIE HOLDING the TSR over the last 5 years was 64%, which is better than the share price return mentioned above. … A Different Perspective Investors in EMS-CHEMIE HOLDING had a tough year, with a total loss of 1.3% (including dividends), against a market gain of about 9.9%.

Simply Wall St -

Read This Before You Buy EMS-CHEMIE HOLDING AG (VTX:EMSN) Because Of Its P/E Ratio

The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for EMS-CHEMIE HOLDING: P/E of 26.04 = CHF578.5 ÷ CHF22.22 (Based on the year to December 2018.) Is A High P/E Ratio Good? … Since EMS-CHEMIE HOLDING holds net cash of CHF283m, it can spend on growth, justifying a higher P/E ratio than otherwise. … The Verdict On EMS-CHEMIE HOLDING's P/E Ratio EMS-CHEMIE HOLDING trades on a P/E ratio of 26, which is above its market average of 17.7.

Simply Wall St -

EMS-CHEMIE HOLDING AG (VTX:EMSN) Is Yielding 3.5% - But Is It A Buy?

Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see EMS-CHEMIE HOLDING has grown its earnings per share at 10% per annum over the past five years. … EMS-CHEMIE HOLDING's earnings per share have grown rapidly in recent years, although more than half of its profits are being paid out as dividends, which makes us wonder if the company has a limited number of reinvestment opportunities in its business. … EMS-CHEMIE HOLDING's is paying out more than half its income as dividends, but at least the dividend is covered by both reported earnings and cashflow.

Simply Wall St -

Should Income Investors Look At EMS-CHEMIE HOLDING AG (VTX:EMSN) Before Its Ex-Dividend?

Companies with consistently growing earnings per share generally make the best dividend stocks, as they usually find it easier to grow dividends per share. … The company paid out most of its earnings as dividends over the last year, even though business is booming and earnings per share are growing rapidly. … However, we'd also note that EMS-CHEMIE HOLDING is paying out more than half of its earnings and cash flow as profits, which could limit the dividend growth if earnings growth slows.

Simply Wall St -

What Should We Expect From EMS-CHEMIE HOLDING AG's (VTX:EMSN) Earnings In The Next Couple Of Years?

EMS-CHEMIE HOLDING AG's (VTX:EMSN) released its most recent earnings update in March 2019, which indicated that the company experienced a small tailwind, eventuating to a single-digit earnings growth of 7.9%. … Below is my commentary, albeit very simple and high-level, on how market analysts predict EMS-CHEMIE HOLDING's earnings growth outlook over the next few years and whether the future looks even brighter than the past. … See our latest analysis for EMS-CHEMIE HOLDING Analysts' expectations for the coming year seems rather muted, with earnings expanding by a single digit 0.7%.

Simply Wall St -

With 7.9% Earnings Growth, Did EMS-CHEMIE HOLDING AG (VTX:EMSN) Outperform The Industry?

Understanding how EMS-CHEMIE HOLDING AG (VTX:EMSN) is performing as a company requires looking at more than just a years' earnings. … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 11%, indicating the rate at which EMSN is growing has slowed down. … You should continue to research EMS-CHEMIE HOLDING to get a more holistic view of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for EMSN’s future growth?

Simply Wall St -

Are EMS-CHEMIE HOLDING AG’s (VTX:EMSN) High Returns Really That Great?

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for EMS-CHEMIE HOLDING: 0.35 = CHF622m ÷ (CHF2.2b - CHF365m) (Based on the trailing twelve months to December 2018.) Therefore, EMS-CHEMIE HOLDING has an ROCE of 35%. … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE. … The Bottom Line On EMS-CHEMIE HOLDING's ROCE With low current liabilities and a high ROCE, EMS-CHEMIE HOLDING could be worthy of further investigation.

Simply Wall St -

I Built A List Of Growing Companies And EMS-CHEMIE HOLDING (VTX:EMSN) Made The Cut

So if you're like me, you might be more interested in profitable, growing companies, like EMS-CHEMIE HOLDING (VTX:EMSN). … View our latest analysis for EMS-CHEMIE HOLDING EMS-CHEMIE HOLDING's Earnings Per Share Are Growing. … We would not expect to see insiders owning a large percentage of a CHF15b company like EMS-CHEMIE HOLDING.

Simply Wall St -

Is EMS-CHEMIE HOLDING AG (VTX:EMSN) Potentially Undervalued?

See our latest analysis for EMS-CHEMIE HOLDING Is EMS-CHEMIE HOLDING still cheap? … I find that EMS-CHEMIE HOLDING’s ratio of 27.89x is trading slightly below its industry peers’ ratio of 30.43x, which means if you buy EMS-CHEMIE HOLDING today, you’d be paying a fair price for it. … Furthermore, it seems like EMS-CHEMIE HOLDING’s share price is quite stable, which means there may be less chances to buy low in the future now that it’s fairly valued.

Simply Wall St -

Should You Buy EMS-CHEMIE HOLDING AG (VTX:EMSN) When Prices Drop?

High quality stocks such as EMS-CHEMIE HOLDING AG has fared well over time in a fickle stock market, which is why I want to bring it into light amongst all the chaos. … Next Steps: EMS-CHEMIE HOLDING makes for a robust long-term investment based on its scale, financial health and track record. … We aim to bring you long-term focused research analysis driven by fundamental data.

Simply Wall St -

Company Info

Description

EMS-CHEMIE HOLDING AG engages in the high performance polymers and specialty chemicals businesses worldwide. The company’s High Performance Polymers segment is involved in the manufacture and supply of high performance polyamides and polyamide materials; and supply of adhesives, sealants, and coatings, including application engineering systems. Its Specialty Chemicals segment develops, produces, and sells fibers, fusible adhesives, and adhesive yarns for technical and textile applications; adhesion promoters for the tire industry; powder coatings; and reactive diluents. This segment also manufactures ignitors for airbag gas generators. The company serves automotive, electro and electronic, industry and consumer goods, optic, and packaging markets. The company was founded in 1936 and is based in Domat/Ems, Switzerland. EMS-CHEMIE HOLDING AG is a subsidiary of EMESTA HOLDING AG.

Details
Name: EMS-CHEMIE HOLDING AG
EMSN
Exchange: SWX
Founded: 1936
CHF13,904,777,146
23,389,028
Website: http://www.ems-group.com
Address: EMS-CHEMIE HOLDING AG
Via Innovativa 1,
Domat/Ems,
Zurich, 7013,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX EMSN Registered Shares SIX Swiss Exchange CH CHF 29. Sep 1992
OTCPK EMSH.F Registered Shares Pink Sheets LLC US USD 29. Sep 1992
DB EMC1 Registered Shares Deutsche Boerse AG DE EUR 29. Sep 1992
LSE 0QM9 Registered Shares London Stock Exchange GB CHF 29. Sep 1992
Number of employees
Current staff
Staff numbers
2,855
EMS-CHEMIE HOLDING employees.
Industry
Specialty Chemicals
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/31 20:57
End of day share price update: 2020/03/31 00:00
Last estimates confirmation: 2020/03/19
Last earnings filing: 2019/08/26
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.