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Martinrea International

DB:03M
Snowflake Description

Very undervalued with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
03M
DB
CA$530M
Market Cap
  1. Home
  2. DE
  3. Automobiles
Company description

Martinrea International Inc. designs, develops, manufactures, and sells metal parts, assemblies and modules, fluid management systems, and aluminum products primarily to the automotive industry in North America, Europe, and internationally. The last earnings update was 33 days ago. More info.


Add to Portfolio Compare Print
  • Martinrea International has significant price volatility in the past 3 months.
03M Share Price and Events
7 Day Returns
12.4%
DB:03M
3.7%
DE Auto Components
2.1%
DE Market
1 Year Returns
-47.3%
DB:03M
-47.8%
DE Auto Components
-16.6%
DE Market
03M Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Martinrea International (03M) 12.4% -34.2% -52.2% -47.3% -30.9% -52.3%
DE Auto Components 3.7% -20.4% -41.1% -47.8% -63.5% -67.9%
DE Market 2.1% -12.6% -22.9% -16.6% -21.9% -27.8%
1 Year Return vs Industry and Market
  • 03M matched the Auto Components industry (-47.8%) over the past year.
  • 03M underperformed the Market in Germany which returned -16.6% over the past year.
Price Volatility
03M
Industry
5yr Volatility vs Market

Value

 Is Martinrea International 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 Martinrea International 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 Martinrea International.

DB:03M 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 10.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

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 DB:03M
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Auto Components Unlevered Beta Simply Wall St/ S&P Global 1.14
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.14 (1 + (1- 26.5%) (185.69%))
2.136
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (2 * 5.44%)
10.49%

Discounted Cash Flow Calculation for DB:03M using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Martinrea International 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.

DB:03M DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 10.49%)
2020 42.00 Analyst x2 38.01
2021 133.33 Analyst x3 109.22
2022 215.00 Analyst x1 159.39
2023 199.00 Analyst x1 133.52
2024 188.86 Est @ -5.1% 114.69
2025 181.90 Est @ -3.69% 99.97
2026 176.99 Est @ -2.7% 88.04
2027 173.44 Est @ -2% 78.09
2028 170.80 Est @ -1.52% 69.60
2029 168.79 Est @ -1.18% 62.25
Present value of next 10 years cash flows CA$952.00
DB:03M DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$168.79 × (1 + -0.39%) ÷ (10.49% – -0.39%)
CA$1,545.30
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$1,545.30 ÷ (1 + 10.49%)10
CA$569.88
DB:03M Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$952.00 + CA$569.88
CA$1,521.88
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$1,521.88 / 80.16
CA$18.98
DB:03M Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:03M represents 0.65988x of TSX:MRE
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.65988x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 18.98 x 0.65988
€12.53
Value per share (EUR) From above. €12.53
Current discount Discount to share price of €4.54
= -1 x (€4.54 - €12.53) / €12.53
63.8%

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

Current Discount
Amount off the current price Martinrea International is available for.
Intrinsic value
>50%
Share price is €4.54 vs Future cash flow value of €12.53
Current Discount Checks
For Martinrea International to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Martinrea International's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Martinrea International'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 Martinrea International's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Martinrea International's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:03M PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$2.20
TSX:MRE Share Price ** TSX (2020-04-07) in CAD CA$6.88
Germany Auto Components Industry PE Ratio Median Figure of 9 Publicly-Listed Auto Components Companies 12.05x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 16.83x

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

** Primary Listing of Martinrea International.

DB:03M PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:MRE Share Price ÷ EPS (both in CAD)

= 6.88 ÷ 2.20

3.13x

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

  • Martinrea International is good value based on earnings compared to the DE Auto Components industry average.
  • Martinrea International is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Martinrea International's expected growth come at a high price?
Raw Data
DB:03M PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 3.13x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
9.2%per year
Germany Auto Components Industry PEG Ratio Median Figure of 7 Publicly-Listed Auto Components Companies 0.53x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

DB:03M PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 3.13x ÷ 9.2%

0.34x

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

  • Martinrea International is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Martinrea International's assets?
Raw Data
DB:03M PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$15.18
TSX:MRE Share Price * TSX (2020-04-07) in CAD CA$6.88
Germany Auto Components Industry PB Ratio Median Figure of 13 Publicly-Listed Auto Components Companies 0.7x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.45x
DB:03M PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:MRE Share Price ÷ Book Value per Share (both in CAD)

= 6.88 ÷ 15.18

0.45x

* Primary Listing of Martinrea International.

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

  • Martinrea International is good value based on assets compared to the DE Auto Components industry average.
X
Value checks
We assess Martinrea International'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 Auto Components 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 Auto Components industry average (and greater than 0)? (1 check)
  5. Martinrea International has a total score of 6/6, 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 Martinrea International 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
9.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Martinrea International expected to grow at an attractive rate?
  • Martinrea International's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Martinrea International's earnings growth is positive but not above the Germany market average.
  • Martinrea International's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:03M Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:03M Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 9.2%
DB:03M Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 0.5%
Germany Auto Components Industry Earnings Growth Rate Market Cap Weighted Average 49.7%
Germany Auto Components Industry Revenue Growth Rate Market Cap Weighted Average 2.4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*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
DB:03M Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:03M Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 3,791 360 2
2021-12-31 3,940 360 225 6
2020-12-31 3,393 289 93 7
2020-04-07
DB:03M Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 3,864 402 181
2019-09-30 3,872 364 168
2019-06-30 3,749 335 158
2019-03-31 3,722 285 185
2018-12-31 3,663 297 186
2018-09-30 3,615 284 180
2018-06-30 3,603 275 180
2018-03-31 3,654 268 172
2017-12-31 3,690 303 160
2017-09-30 3,802 332 158
2017-06-30 3,878 350 151
2017-03-31 3,930 363 103

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Martinrea International's earnings are expected to grow by 9.2% yearly, however this is not considered high growth (20% yearly).
  • Martinrea International's revenue is expected to grow by 0.5% 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
DB:03M 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 7 Analyst Estimates (S&P Global) See Below

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

DB:03M Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31 2.84 3.18 2.49 2.00
2020-12-31 1.16 1.47 0.85 2.00
2020-04-07
DB:03M Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 2.20
2019-09-30 2.01
2019-06-30 1.86
2019-03-31 2.16
2018-12-31 2.15
2018-09-30 2.08
2018-06-30 2.08
2018-03-31 1.99
2017-12-31 1.84
2017-09-30 1.83
2017-06-30 1.74
2017-03-31 1.20

*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.
  • Martinrea International is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Martinrea International'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 Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany 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.
Martinrea International has a total score of 1/6, 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 Martinrea International 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 Martinrea International's growth in the last year to its industry (Auto Components).
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.
  • Martinrea International's year on year earnings growth rate has been positive over the past 5 years.
  • Martinrea International's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Martinrea International's 1-year earnings growth is negative, it can't be compared to the DE Auto Components industry average.
Earnings and Revenue History
Martinrea International'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 Martinrea International Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:03M Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 3,863.66 181.22 243.88 38.04
2019-09-30 3,872.23 167.88 238.59 35.35
2019-06-30 3,748.98 157.59 236.09 31.49
2019-03-31 3,722.16 185.19 236.83 29.17
2018-12-31 3,662.90 185.88 232.31 26.56
2018-09-30 3,615.39 180.43 226.48 25.98
2018-06-30 3,602.79 180.28 219.49 26.49
2018-03-31 3,653.85 171.90 213.51 26.47
2017-12-31 3,690.50 159.54 209.77 26.60
2017-09-30 3,802.26 157.93 205.21 27.24
2017-06-30 3,878.45 150.80 201.13 25.97
2017-03-31 3,929.51 103.41 199.25 25.44
2016-12-31 3,968.41 92.38 198.11 24.85
2016-09-30 4,013.31 89.36 201.17 22.59
2016-06-30 4,028.47 75.73 201.04 23.02
2016-03-31 3,988.69 109.18 198.99 22.40
2015-12-31 3,866.77 107.03 192.21 21.77
2015-09-30 3,775.24 91.22 197.29 21.20
2015-06-30 3,704.81 95.14 188.86 19.72
2015-03-31 3,651.68 85.03 185.44 19.31
2014-12-31 3,598.65 71.30 182.94 18.36
2014-09-30 3,513.49 7.96 177.93 20.03
2014-06-30 3,421.89 9.55 177.44 18.59
2014-03-31 3,317.25 13.75 171.03 17.29
2013-12-31 3,221.88 16.95 163.65 16.81
2013-09-30 3,068.86 60.04 148.56 14.61
2013-06-30 2,998.19 47.05 143.53 14.68

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Martinrea International is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Martinrea International's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Martinrea International'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 1.4x 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 Martinrea International Company Filings, last reported 3 months ago.

DB:03M Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,218.42 781.57 118.97
2019-09-30 1,201.42 793.25 101.41
2019-06-30 1,175.79 785.84 90.14
2019-03-31 1,176.55 809.55 76.45
2018-12-31 1,151.55 740.72 70.16
2018-09-30 1,102.24 700.58 83.69
2018-06-30 1,104.51 680.09 75.26
2018-03-31 1,052.53 677.54 81.40
2017-12-31 958.50 654.02 71.19
2017-09-30 908.33 658.37 52.47
2017-06-30 899.55 677.39 57.14
2017-03-31 865.56 690.58 56.05
2016-12-31 829.68 721.40 59.17
2016-09-30 785.42 728.96 47.57
2016-06-30 747.44 749.63 64.84
2016-03-31 760.40 745.41 22.38
2015-12-31 776.23 717.01 28.90
2015-09-30 729.82 720.62 7.90
2015-06-30 672.45 688.66 21.03
2015-03-31 633.98 733.49 20.67
2014-12-31 575.75 692.44 52.40
2014-09-30 558.20 683.65 25.29
2014-06-30 519.87 451.68 38.46
2014-03-31 574.48 507.01 43.19
2013-12-31 554.01 471.78 56.22
2013-09-30 612.24 441.25 16.63
2013-06-30 613.64 432.73 23.52
  • Martinrea International's level of debt (64.1%) 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 (120.2% vs 64.1% today).
  • Debt is well covered by operating cash flow (51.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7.4x coverage).
X
Financial health checks
We assess Martinrea International'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. Martinrea International 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 Martinrea International's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.91%
Current annual income from Martinrea International dividends. Estimated to be 3.2% next year.
If you bought €2,000 of Martinrea International shares you are expected to receive €58 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?
  • Martinrea International's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.67%).
  • Martinrea International's dividend is below the markets top 25% of dividend payers in Germany (4.71%).
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
DB:03M 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
Germany Auto Components Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 5.6%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.7%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

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

DB:03M Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 0.26 1.00
2023-12-31 0.24 1.00
2022-12-31 0.22 1.00
2021-12-31 0.20 1.00
2020-12-31 0.18 1.00
2020-04-07
DB:03M Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2020-03-05 0.200 2.690
2019-11-12 0.180 1.394
2019-08-06 0.180 1.692
2019-05-02 0.180 1.713
2018-11-08 0.180 1.512
2018-05-03 0.180 1.300
2018-03-01 0.120 0.777
2017-11-14 0.120 0.792
2017-05-01 0.120 1.071
2017-03-02 0.120 1.234
2016-11-03 0.120 1.474
2016-08-02 0.120 1.444
2016-05-03 0.120 1.387
2016-03-03 0.120 1.209
2015-11-05 0.120 1.218
2015-05-05 0.120 0.969
2015-03-19 0.120 0.955
2014-08-14 0.120 1.056
2014-05-15 0.120 0.957
2014-03-31 0.120 1.102
2013-11-07 0.120 1.323
2013-08-07 0.120 1.040
2013-05-02 0.120 1.155

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

  • Whilst dividend payments have been stable, Martinrea International has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Martinrea International only paid a dividend in the past 7 years.
Current Payout to shareholders
What portion of Martinrea International's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (12.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (9.8x coverage).
X
Income/ dividend checks
We assess Martinrea International's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Martinrea International afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Martinrea International has a total score of 3/6, 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 Martinrea International'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
Pat D'Eramo
COMPENSATION CA$4,317,022
AGE 56
TENURE AS CEO 5.4 years
CEO Bio

Mr. Frank Patrick D'Eramo also known as Pat, has been the Chief Executive Officer and President of Martinrea International Inc. since November 1, 2014. Mr. D'Eramo joined Martinrea on November 1, 2014. Mr. D'Eramo has a long and successful career in the automotive business, with extensive metalforming and parts manufacturing experience. Mr. D'Eramo served as President of Commercial Vehicle Driveline Technologies at Dana Holding Corporation since August 2012. Mr. D'Eramo served at Toyota Motor Manufacturing Kentucky Inc. from 2001 to 2009 and served as Vice President of Manufacturing since June 2006 and served several general manager roles. He was responsible for all vehicle manufacturing operations in Toyota's Georgetown, Kentucky assembly plant, Toyota's second largest facility globally, which earned JD Power quality awards for one of the best facilities for quality in the world. He served at Benteler Automotive as Chief Manufacturing Officer for Asia Pacific, North America and South America. He served as President of North America at Benteler Automotive and was responsible for manufacturing, engineering, purchasing, logistics, sales and business development. He served as President of North America Region at Dana Holding Corporation from March 2012 to August 2012 and was responsible for manufacturing, engineering, purchasing, logistics, sales and business development for operations in the U.S., Canada and Mexico. He spent 16 years with General Motors working in a variety of manufacturing positions, including Plant Manager in Oshawa, Ontario and General Manager of metal fabricating division in Oshawa. He served as Stamping Manager of New United Motor Manufacturing Inc. (NUMMI). Mr. D'Eramo began his automotive career at Saturn Corporation. He served as a General Manager of Body Operations at TMMK. He served as Vice President of manufacturing at Toyota Motor Corporation until December 2009. He joined Dana in March 2012. He has been a Director of Martinrea International Inc. since June 11, 2015. He serves as a Member of Strategy Board at Dana Holding Corporation. He has a Bachelor of Science degree in Mechanical Engineering from Michigan State University and a Master’S Degree in Manufacturing Management from Kettering University. Mr. D'Eramo completed the Toyota Executive Development Program through The Wharton School of the University of Pennsylvania.

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

Average tenure of the Martinrea International management team in years:

5.4
Average Tenure
  • The average tenure for the Martinrea International management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Rob Wildeboer

TITLE
Executive Chairman of the Board
COMPENSATION
CA$4M
AGE
59

Pat D'Eramo

TITLE
President
COMPENSATION
CA$4M
AGE
56
TENURE
5.4 yrs

Fred Di Tosto

TITLE
Chief Financial Officer
COMPENSATION
CA$2M
TENURE
9.1 yrs

Bruce Johnson

TITLE
Executive Vice President of Metallics
COMPENSATION
CA$2M

Alfredo Alonso

TITLE
Executive Vice President of Fluids
COMPENSATION
CA$2M
TENURE
2.3 yrs

Ganesh Iyer

TITLE
Chief Technology Officer

Kerri Pope

TITLE
General Counsel & Corporate Secretary

Deanna Lorincz

TITLE
Global Director of Communications & Marketing

Robert Fairchild

TITLE
Executive Vice President of Sales & Engineering

Armando Pagliari

TITLE
Executive Vice President of Human Resources
Board of Directors Tenure

Average tenure and age of the Martinrea International board of directors in years:

6
Average Tenure
60
Average Age
  • The tenure for the Martinrea International board of directors is about average.
Board of Directors

Rob Wildeboer

TITLE
Executive Chairman of the Board
COMPENSATION
CA$4M
AGE
59
TENURE
22.6 yrs

Pat D'Eramo

TITLE
President
COMPENSATION
CA$4M
AGE
56
TENURE
4.8 yrs

Terry Lyons

TITLE
Independent Director
COMPENSATION
CA$223K
AGE
69
TENURE
6.2 yrs

Roman Doroniuk

TITLE
Independent Director
COMPENSATION
CA$223K
AGE
61
TENURE
6.1 yrs

Sandra Pupatello

TITLE
Independent Director
COMPENSATION
CA$212K
AGE
56
TENURE
5.8 yrs

Fred Olson

TITLE
Lead Director
COMPENSATION
CA$312K
AGE
72

Scott Balfour

TITLE
Independent Director
COMPENSATION
CA$223K
AGE
55
TENURE
6.8 yrs

Dave Schoch

TITLE
Independent Director
COMPENSATION
CA$106K
AGE
68
TENURE
1.7 yrs

Molly Shoichet

TITLE
Independent Director
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Martinrea International individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
31. Mar 20 Buy Roman Doroniuk Individual 31. Mar 20 31. Mar 20 3,000 €4.41 €13,226
23. Mar 20 Buy Ganesh Iyer Individual 23. Mar 20 23. Mar 20 1,235 €3.79 €4,686
19. Mar 20 Buy Ganesh Iyer Individual 18. Mar 20 18. Mar 20 2,127 €4.34 €9,226
13. Mar 20 Buy Hany Morsy Individual 13. Mar 20 13. Mar 20 3,500 €5.87 €20,561
13. Mar 20 Buy Frank D'Eramo Individual 12. Mar 20 12. Mar 20 24,000 €5.50 €132,006
10. Mar 20 Buy Fred Di Tosto Individual 10. Mar 20 10. Mar 20 3,305 €6.90 €22,752
02. Jan 20 Buy Michael Leal Individual 24. Dec 19 24. Dec 19 6,905 €9.90 €68,329
23. Dec 19 Buy Peter Cirulis Individual 23. Dec 19 23. Dec 19 4,161 €7.50 €31,188
11. Dec 19 Sell Fred Olson Individual 11. Dec 19 11. Dec 19 -860 €8.67 €-7,455
23. Sep 19 Buy Ganesh Iyer Individual 17. Sep 19 17. Sep 19 2,200 €7.89 €17,352
09. Sep 19 Buy Lawrence Paine Individual 27. Aug 19 27. Aug 19 10,480 €6.48 €67,957
09. Sep 19 Buy Peter Cirulis Individual 05. Sep 19 05. Sep 19 3,725 €7.33 €27,300
29. Aug 19 Buy Alfredo Alonso Individual 28. Aug 19 28. Aug 19 5,386 €6.72 €36,148
14. Aug 19 Buy Frank D'Eramo Individual 14. Aug 19 14. Aug 19 5,940 €6.81 €40,378
12. Aug 19 Buy Megan Hunter Individual 09. Aug 19 09. Aug 19 9,960 €6.79 €67,466
08. Aug 19 Buy Fred Di Tosto Individual 08. Aug 19 08. Aug 19 3,725 €7.04 €26,136
27. Jun 19 Buy Peter Cirulis Individual 27. Jun 19 27. Jun 19 4,956 €7.08 €35,074
18. Jun 19 Buy Kerri Pope Individual 17. Jun 19 18. Jun 19 3,375 €6.87 €23,063
11. Jun 19 Buy Alfredo Alonso Individual 31. May 19 10. Jun 19 8,140 €6.55 €52,875
31. May 19 Buy Armando Pagliari Individual 31. May 19 31. May 19 10,000 €6.52 €64,993
29. May 19 Buy Robert Wildeboer Individual 29. May 19 29. May 19 10,000 €6.81 €67,932
X
Management checks
We assess Martinrea International'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. Martinrea International 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

Company Info

Description

Martinrea International Inc. designs, develops, manufactures, and sells metal parts, assemblies and modules, fluid management systems, and aluminum products primarily to the automotive industry in North America, Europe, and internationally. It offers engine blocks, transmissions, cases, housings, ladder frames, oil coolers, hoses, tube assemblies, oil fillers, tubes, indicators, oil pick-up screens and pipes, heater hose inlets and outlets, and electric motor housings; and front horizontal, rear suspension, and front vertical modules. It also provides mufflers, DPS lines, EGR tubes, air-injection tubes, and exhaust manifold tubes; fuel filler necks and pipes, capless refueling systems, fuel tank/sender assemblies, vapor assemblies and canister hoses, fuel line feed/return assembly systems, and fuel lines and hoses; and air-conditioning lines, and heater core inlet and outlet assemblies. In addition, it offers frame rail assemblies, surface stampings, structural BIW components, suspension arms and links, engine cradles, centre and rear crossmembers, suspension twist axles, roof assemblies, door intrusion beams, bumpers, radiator support assemblies, trailer hitches, dash and plenum assemblies, wheelhouse assemblies, roll-formed rockers and headers, appliqués, battery trays and housings, aluminum and steel shock towers, control arms, and knuckles, as well as belt, upper reveal, roof ditch, D-line, and other exterior decorative moldings. Further, it provides brake lines and assemblies, power steering lines and assemblies, power steering oil fillers, and tubes and indicators; and integral and fabricated subframes, exterior trims, bus frame assemblies, structural parts and fabrications, metallic tanks and reservoirs, and thermal management components. The company was formerly known as Royal Laser Tech Corporation and changed its name to Martinrea International Inc. in June 2002. Martinrea International Inc. was founded in 1987 and is headquartered in Vaughan, Canada.

Details
Name: Martinrea International Inc.
03M
Exchange: DB
Founded: 1987
CA$346,356,682
80,162,883
Website: http://www.martinrea.com
Address: Martinrea International Inc.
3210 Langstaff Road,
Vaughan,
Ontario, L4K 5B2,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX MRE Common Shares The Toronto Stock Exchange CA CAD 19. Sep 1997
OTCPK MRET.F Common Shares Pink Sheets LLC US USD 19. Sep 1997
DB 03M Common Shares Deutsche Boerse AG DE EUR 19. Sep 1997
Number of employees
Current staff
Staff numbers
17,000
Martinrea International employees.
Industry
Auto Parts and Equipment
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 22:27
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/03
Last earnings filing: 2020/03/05
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.