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Klöckner & Co

XTRA:KCO
Snowflake Description

Excellent balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KCO
XTRA
€577M
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

Klöckner & Co SE, through its subsidiaries, distributes steel and metal products. The last earnings update was 34 days ago. More info.


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KCO Share Price and Events
7 Day Returns
1%
XTRA:KCO
-1.5%
DE Trade Distributors
-0.9%
DE Market
1 Year Returns
-13.4%
XTRA:KCO
15.6%
DE Trade Distributors
11.1%
DE Market
KCO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Klöckner & Co (KCO) 1% 3.4% 4.2% -13.4% -53.1% -33.9%
DE Trade Distributors -1.5% 5.5% 5.9% 15.6% -6.8% 3.2%
DE Market -0.9% 0.4% 7.7% 11.1% 11.1% 16.9%
1 Year Return vs Industry and Market
  • KCO underperformed the Trade Distributors industry which returned 15.6% over the past year.
  • KCO underperformed the Market in Germany which returned 11.1% over the past year.
Price Volatility
KCO
Industry
5yr Volatility vs Market
Related Companies

KCO Value

 Is Klöckner & Co 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 Klöckner & Co 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 Klöckner & Co.

XTRA:KCO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8%
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 XTRA:KCO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Trade Distributors Unlevered Beta Simply Wall St/ S&P Global 0.94
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.936 (1 + (1- 30%) (131.44%))
1.534
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.53
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.534 * 5.44%)
7.96%

Discounted Cash Flow Calculation for XTRA:KCO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Klöckner & Co 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.

XTRA:KCO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 7.96%)
2020 77.15 Analyst x5 71.47
2021 76.23 Analyst x4 65.41
2022 75.56 Est @ -0.89% 60.05
2023 75.00 Est @ -0.74% 55.21
2024 74.52 Est @ -0.63% 50.82
2025 74.10 Est @ -0.56% 46.81
2026 73.72 Est @ -0.51% 43.14
2027 73.38 Est @ -0.47% 39.77
2028 73.05 Est @ -0.45% 36.67
2029 72.73 Est @ -0.43% 33.82
Present value of next 10 years cash flows €503.00
XTRA:KCO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €72.73 × (1 + -0.39%) ÷ (7.96% – -0.39%)
€867.88
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €867.88 ÷ (1 + 7.96%)10
€403.58
XTRA:KCO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €503.00 + €403.58
€906.58
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €906.58 / 99.75
€9.09
XTRA:KCO Discount to Share Price
Calculation Result
Value per share (EUR) From above. €9.09
Current discount Discount to share price of €5.86
= -1 x (€5.86 - €9.09) / €9.09
35.5%

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

Current Discount
Amount off the current price Klöckner & Co is available for.
Intrinsic value
36%
Share price is €5.86 vs Future cash flow value of €9.09
Current Discount Checks
For Klöckner & Co to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Klöckner & Co's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Klöckner & Co's share price is below the future cash flow value, but not 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 Klöckner & Co's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Klöckner & Co's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
XTRA:KCO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in EUR €-0.12
XTRA:KCO Share Price ** XTRA (2019-12-05) in EUR €5.86
Germany Trade Distributors Industry PE Ratio Median Figure of 7 Publicly-Listed Trade Distributors Companies 15.42x
Germany Market PE Ratio Median Figure of 404 Publicly-Listed Companies 20.32x

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

** Primary Listing of Klöckner & Co.

XTRA:KCO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= XTRA:KCO Share Price ÷ EPS (both in EUR)

= 5.86 ÷ -0.12

-47.61x

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

  • Klöckner & Co is loss making, we can't compare its value to the DE Trade Distributors industry average.
  • Klöckner & Co is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Klöckner & Co's expected growth come at a high price?
Raw Data
XTRA:KCO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -47.61x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
126.4%per year
Europe Trade Distributors Industry PEG Ratio Median Figure of 32 Publicly-Listed Trade Distributors Companies 1.58x
Germany Market PEG Ratio Median Figure of 261 Publicly-Listed Companies 1.42x

*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 Klöckner & Co, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Klöckner & Co's assets?
Raw Data
XTRA:KCO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in EUR €12.08
XTRA:KCO Share Price * XTRA (2019-12-05) in EUR €5.86
Germany Trade Distributors Industry PB Ratio Median Figure of 10 Publicly-Listed Trade Distributors Companies 1.35x
Germany Market PB Ratio Median Figure of 578 Publicly-Listed Companies 1.84x
XTRA:KCO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= XTRA:KCO Share Price ÷ Book Value per Share (both in EUR)

= 5.86 ÷ 12.08

0.49x

* Primary Listing of Klöckner & Co.

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

  • Klöckner & Co is good value based on assets compared to the DE Trade Distributors industry average.
X
Value checks
We assess Klöckner & Co'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 Trade Distributors 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 Trade Distributors industry average (and greater than 0)? (1 check)
  5. Klöckner & Co has a total score of 2/6, 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.

KCO Future Performance

 How is Klöckner & Co expected to perform in the next 1 to 3 years based on estimates from 9 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
126.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Klöckner & Co expected to grow at an attractive rate?
  • Klöckner & Co's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Klöckner & Co's earnings growth is expected to exceed the Germany market average.
  • Klöckner & Co's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
XTRA:KCO Future Growth Rates Data Sources
Data Point Source Value (per year)
XTRA:KCO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 126.4%
XTRA:KCO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 0.8%
Europe Trade Distributors Industry Earnings Growth Rate Market Cap Weighted Average 9.2%
Europe Trade Distributors Industry Revenue Growth Rate Market Cap Weighted Average 3.7%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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
XTRA:KCO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
XTRA:KCO Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 6,577 137 23 7
2020-12-31 6,514 125 10 9
2019-12-31 6,457 212 -28 8
2019-12-05
XTRA:KCO Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-09-30 6,570 214 -12
2019-06-30 6,758 126 32
2019-03-31 6,865 -26 37
2018-12-31 6,790 60 68
2018-09-30 6,656 -43 105
2018-06-30 6,467 4 96
2018-03-31 6,318 13 86
2017-12-31 6,292 79 101
2017-09-30 6,204 13 59
2017-06-30 6,069 -34 77
2017-03-31 5,946 -10 86
2016-12-31 5,730 73 37

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Klöckner & Co's earnings are expected to grow significantly at over 20% yearly.
  • Klöckner & Co's revenue is expected to grow by 0.8% 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
XTRA:KCO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from Klöckner & Co Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XTRA:KCO Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.22 0.28 0.16 6.00
2020-12-31 0.10 0.27 0.02 5.00
2019-12-31 -0.27 -0.24 -0.31 4.00
2019-12-05
XTRA:KCO Past Financials Data
Date (Data in EUR Millions) EPS *
2019-09-30 -0.12
2019-06-30 0.33
2019-03-31 0.37
2018-12-31 0.68
2018-09-30 1.05
2018-06-30 0.96
2018-03-31 0.87
2017-12-31 1.01
2017-09-30 0.59
2017-06-30 0.78
2017-03-31 0.87
2016-12-31 0.37

*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.
  • Klöckner & Co is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Klöckner & Co'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Klöckner & Co 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.

KCO Past Performance

  How has Klöckner & Co 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 Klöckner & Co's growth in the last year to its industry (Trade Distributors).
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.
  • Klöckner & Co does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Klöckner & Co's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Klöckner & Co's 1-year growth to the DE Trade Distributors industry average as it is not currently profitable.
Earnings and Revenue History
Klöckner & Co'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 Klöckner & Co Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XTRA:KCO Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 6,570.00 -12.21 687.50
2019-06-30 6,758.33 32.48 683.95
2019-03-31 6,865.34 36.90 690.13
2018-12-31 6,790.49 67.78 686.48
2018-09-30 6,655.76 104.88 695.13
2018-06-30 6,466.87 95.78 687.34
2018-03-31 6,317.81 86.37 692.83
2017-12-31 6,291.56 101.14 702.16
2017-09-30 6,204.38 58.79 708.61
2017-06-30 6,068.97 77.40 712.01
2017-03-31 5,946.12 86.29 720.45
2016-12-31 5,730.06 36.80 724.48
2016-09-30 5,788.60 -213.23 709.40
2016-06-30 5,955.94 -253.17 739.53
2016-03-31 6,131.99 -339.08 738.52
2015-12-31 6,443.63 -346.69 737.74
2015-09-30 6,565.09 -87.56 759.19
2015-06-30 6,642.45 -62.47 718.60
2015-03-31 6,629.37 2.98 701.02
2014-12-31 6,503.93 22.33 680.54
2014-09-30 6,381.83 -28.13 673.25
2014-06-30 6,307.15 -55.65 663.97
2014-03-31 6,324.90 -71.03 659.32
2013-12-31 6,377.61 -84.61 669.40
2013-09-30 6,555.09 -152.50 664.15
2013-06-30 6,801.73 -169.43 685.18
2013-03-31 7,067.53 -204.58 706.28
2012-12-31 7,388.02 -200.01 717.84

*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 Klöckner & Co has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Klöckner & Co used its assets less efficiently than the DE Trade Distributors industry average last year based on Return on Assets.
  • It is difficult to establish if Klöckner & Co 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 Klöckner & Co'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 Trade Distributors 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.
Klöckner & Co 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.

KCO Health

 How is Klöckner & Co'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 Klöckner & Co's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Klöckner & Co is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Klöckner & Co's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Klöckner & Co'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 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 Klöckner & Co Company Filings, last reported 2 months ago.

XTRA:KCO Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 1,224.61 757.84 192.36
2019-06-30 1,244.11 636.25 218.61
2019-03-31 1,258.82 866.91 107.81
2018-12-31 1,281.64 494.49 141.34
2018-09-30 1,319.73 624.82 60.06
2018-06-30 1,267.37 592.50 67.24
2018-03-31 1,231.74 550.11 82.57
2017-12-31 1,202.31 456.94 153.56
2017-09-30 1,187.90 603.84 174.80
2017-06-30 1,191.94 606.61 150.99
2017-03-31 1,183.11 631.83 162.60
2016-12-31 1,147.95 546.58 134.23
2016-09-30 1,077.48 613.25 182.15
2016-06-30 1,048.61 484.97 67.37
2016-03-31 1,030.15 546.01 168.32
2015-12-31 1,113.43 541.52 164.85
2015-09-30 1,375.79 811.75 304.50
2015-06-30 1,406.75 864.56 304.31
2015-03-31 1,454.57 920.69 281.24
2014-12-31 1,428.69 777.55 316.36
2014-09-30 1,463.11 929.06 380.52
2014-06-30 1,447.14 919.79 349.96
2014-03-31 1,441.72 923.82 527.29
2013-12-31 1,445.47 909.63 595.39
2013-09-30 1,512.03 1,009.05 559.10
2013-06-30 1,514.45 1,046.11 570.34
2013-03-31 1,506.61 1,134.67 662.77
2012-12-31 1,502.37 1,021.47 610.22
  • Klöckner & Co's level of debt (44.7%) 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 (63.4% vs 44.7% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Klöckner & Co has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Klöckner & Co has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -19.9% per year.
X
Financial health checks
We assess Klöckner & Co'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. Klöckner & Co 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.

KCO Dividends

 What is Klöckner & Co'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
5.12%
Current annual income from Klöckner & Co dividends. Estimated to be 3.33% next year.
If you bought €2,000 of Klöckner & Co shares you are expected to receive €102 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?
  • Klöckner & Co's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.42%).
  • Klöckner & Co's dividend is above the markets top 25% of dividend payers in Germany (3.66%).
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
XTRA:KCO 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 9 Analyst Estimates (S&P Global) See Below
Germany Trade Distributors Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 2.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 334 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

XTRA:KCO Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.18 7.00
2020-12-31 0.19 8.00
2019-12-31 0.22 6.00
2019-12-05
XTRA:KCO Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-12 0.300 5.522
2018-05-14 0.300 3.753
2017-03-01 0.200 1.977
2016-11-21 0.000 0.000
2016-11-03 0.000 0.000
2016-08-04 0.000 0.000
2016-02-24 0.000 0.000
2015-03-27 0.200 2.461
2013-03-06 0.000 0.000
2012-11-19 0.000 0.000
2012-11-07 0.000 0.000
2012-08-16 0.000 0.000
2012-08-08 0.000 0.000
2012-05-09 0.000 0.000
2012-04-10 0.000 0.000
2011-03-08 0.300 2.328
2009-10-30 0.000 0.000
2009-07-30 0.000 0.000
2009-04-30 0.000 0.000
2009-03-02 0.000 0.000

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

  • Klöckner & Co has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Klöckner & Co has only been paying a dividend for 9 years, and since then there has been no growth.
Current Payout to shareholders
What portion of Klöckner & Co'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 not well covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess Klöckner & Co'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 Klöckner & Co afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Klöckner & Co 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.

KCO Management

 What is the CEO of Klöckner & Co'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
Gisbert Rühl
COMPENSATION €3,068,000
AGE 60
TENURE AS CEO 10.1 years
CEO Bio

Mr. Gisbert Rühl serves as the Chairman of Management Board and Chief Executive Officer at Klöckner & Co SE since May 2019 and its Member of of Management Board since July 2005 also served as Chief Executive Officer of Europe since August 1, 2019 until 2019. He served as Chief Financial Officer at Klöckner & Co SE since May 2019 until July 31, 2019 and also served as the Chairman of Management Board and Chief Executive Officer since November 1, 2009 until May 2019. Mr. Rühl has been a Member of Management Board of Klöckner & Co SE since June 2005. He served as the Chief Financial Officer at Klöckner & Co SE from June 2005 to December 2012. He is responsible for the other Participations and for Accounts/Finance, Controlling/M&A/Corporate Development, Taxes, Corporate IT and Investor Relations. He was previously a Partner at Roland Berger Strategy Consultants GmbH. He was employed with Klöckner Investment S.C.A., Luxemburg/ Luxemburg, Klöckner Metalsnab AD, Sofia/Bulgaria since December 17, 2007, Namasco Limited, Toronto/ Canada and ODS B.V., Rotterdam/Netherlands. He has been Chairman of the Supervisory Board of Walter Services Holding GmbH since November 29, 2007. He serves as the Chairman of Klöckner & Co Financial Services B.V., Rotterdam/Netherlands and Debrunner Koenig Holding AG, Deputy Chairman of Comercial de L aminados, Madrid/ Spain, Klöckner Distribution Industrielle S.A., Aubervilliers/France and Klöckner Ibérica S.L., Madrid/Spain. He is Chairman of the Board of Directors at Klöckner USA Holding Inc., Klöckner Namasco Holding Corporation and Wilmington/USA. Mr. Rühl serves as a Member of the Board of Directors of Klöckner Namasco Holding Corporation. He serves as a Member of Supervisory Board at RWE Power AG. He serves as a Member of the Supervisory Board of Klöckner Stahl- und Metallhandel GmbH, Duisburg and DAL Deutsche Afrika L inien GmbH & Co KG, Hamburg. He serves as a Member of the Regional Advisory Board of Deutsche Bank Aktiengesellschaft, Essen branch. He studied industrial engineering at Hamburg University.

CEO Compensation
  • Gisbert's compensation has increased whilst company is loss making.
  • Gisbert's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Klöckner & Co management team in years:

0.3
Average Tenure
57
Average Age
  • The average tenure for the Klöckner & Co management team is less than 2 years, this suggests a new team.
Management Team

Gisbert Rühl

TITLE
Chairman of Management Board & CEO
COMPENSATION
€3M
AGE
60
TENURE
10.1 yrs

Oliver Falk

TITLE
CFO & Member of Management Board
AGE
57
TENURE
0.3 yrs

George Ganem

TITLE
CEO of Americas
TENURE
0.3 yrs

Felix Schmitz

TITLE
Head of Investor Relations

Christian Pokropp

TITLE
Head of Corporate Communications
AGE
40
Board of Directors Tenure

Average tenure and age of the Klöckner & Co board of directors in years:

3.6
Average Tenure
63
Average Age
  • The tenure for the Klöckner & Co board of directors is about average.
Board of Directors

Dieter Vogel

TITLE
Chairman of the Supervisory Board
COMPENSATION
€143K
AGE
78
TENURE
13.6 yrs

Ralph Heck

TITLE
Deputy Chairman of the Supervisory Board
COMPENSATION
€53K
TENURE
1.6 yrs

Ute Wolf

TITLE
Member of Supervisory Board
COMPENSATION
€78K
AGE
51
TENURE
2.6 yrs

Tobias Kollmann

TITLE
Member of Supervisory Board
COMPENSATION
€46K
AGE
49
TENURE
4.4 yrs

Karl-Ulrich Köhler

TITLE
Member of Supervisory Board
COMPENSATION
€54K
AGE
63
TENURE
3.6 yrs

Friedhelm Loh

TITLE
Member of Supervisory Board
COMPENSATION
€50K
AGE
73
TENURE
3.6 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 (€) Value (€)
X
Management checks
We assess Klöckner & Co'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. Klöckner & Co 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.

KCO News

Simply Wall St News

Is Klöckner & Co SE's (ETR:KCO) High P/E Ratio A Problem For Investors?

The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Klöckner &amp; Co: P/E of 15.92 = €5.19 ÷ €0.33 (Based on the trailing twelve months to June 2019.) Is A High Price-to-Earnings Ratio Good? … How Does Klöckner &amp; Co's Debt Impact Its P/E Ratio? … The Bottom Line On Klöckner &amp; Co's P/E Ratio Klöckner &amp; Co's P/E is 15.9 which is below average (18.4) in the DE market.

Simply Wall St -

Some Klöckner & Co (ETR:KCO) Shareholders Have Copped A Big 62% Share Price Drop

Long term Klöckner &amp; Co SE (ETR:KCO) shareholders know that all too well, since the share price is down considerably over three years. … When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. … We note that for Klöckner &amp; Co the TSR over the last 3 years was -58%, which is better than the share price return mentioned above.

Simply Wall St -

Here's Why Klöckner & Co (ETR:KCO) Is Weighed Down By Its Debt Load

Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price. … Over the last three years, Klöckner &amp; Co saw substantial negative free cash flow, in total. … Our View To be frank both Klöckner &amp; Co's conversion of EBIT to free cash flow and its track record of staying on top of its total liabilities make us rather uncomfortable with its debt levels.

Simply Wall St -

An Intrinsic Calculation For Klöckner & Co SE (ETR:KCO) Suggests It's 39% Undervalued

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Klöckner &amp; Co SE (ETR:KCO) as an investment opportunity by taking the expected future cash flows and discounting them to today's value. … We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. … Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate: 10-year free cash flow (FCF) estimate 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Levered FCF (€, Millions) €65.6m €71.3m €75.5m €78.7m €81.0m €82.8m €84.1m €85.1m €85.9m €86.5m Growth Rate Estimate Source Analyst x1 Analyst x1 Est @ 5.9% Est @ 4.2% Est @ 3.01% Est @ 2.17% Est @ 1.59% Est @ 1.18% Est @ 0.9% Est @ 0.7% Present Value (€, Millions) Discounted @ 10.68% €59.3 €58.2 €55.7 €52.4 €48.8 €45.0 €41.3 €37.8 €34.5 €31.3 ("Est" = FCF growth rate estimated by Simply Wall St) Present Value of 10-year Cash Flow (PVCF)= €464.4m After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage.

Simply Wall St -

Is Klöckner & Co SE's (ETR:KCO) CEO Paid Enough Relative To Peers?

First, this article will compare CEO compensation with compensation at similar sized companies. … See our latest analysis for Klöckner &amp; Co How Does Gisbert Rühl's Compensation Compare With Similar Sized Companies? … We compared total CEO remuneration at Klöckner &amp; Co SE with the amount paid at companies with a similar market capitalization.

Simply Wall St -

Should You Buy Klöckner & Co SE (ETR:KCO) For Its Dividend?

Is Klöckner &amp; Co SE (ETR:KCO) a good dividend stock? How would you know? Dividend paying companies with growing earnings can be highly rewarding in the long term. Yet sometimes, investors buy a popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. With a eight-year payment history and a 5.8% yield, many investors probably find Klöckner &amp; Co intriguing. We'd agree the yield does look enticing. There are a few simple ways to reduce the risks of buying Klöckner &amp; Co for its dividend, and we'll go through these below. Explore this interactive chart for our latest analysis on Klöckner &amp; Co! XTRA:KCO Historical Dividend Yield, June 21st 2019 Payout ratios Dividends are usually paid out of company earnings. If a company is paying more than it earns, then the dividend might become unsustainable - hardly an ideal situation. As a result, we should always investigate whether a company can afford its dividend, measured as a percentage of a company's net income after tax. In the last year, Klöckner &amp; Co paid out 81% of its profit as dividends. Paying out a majority of its earnings limits the amount that can be reinvested in the business. This may indicate a commitment to paying a dividend, or a dearth of investment opportunities. In addition to comparing dividends against profits, we should inspect whether the company generated enough cash to pay its dividend. Unfortunately, while Klöckner &amp; Co pays a dividend, it also reported negative free cash flow last year. While there may be a good reason for this, it's not ideal from a dividend perspective. It's positive to see that Klöckner &amp; Co's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut. Is Klöckner &amp; Co's Balance Sheet Risky? As Klöckner &amp; Co has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. … It's good to see that Klöckner &amp; Co has been paying a dividend for a number of years. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Klöckner &amp; Co has grown its earnings per share at 40% per annum over the past five years.

Simply Wall St -

Why Klöckner & Co SE’s (ETR:KCO) Return On Capital Employed Looks Uninspiring

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 Klöckner &amp; Co: 0.037 = €90m ÷ (€3.4b - €942m) (Based on the trailing twelve months to March 2019.) So, Klöckner &amp; Co has an ROCE of 3.7%. … Do Klöckner &amp; Co's Current Liabilities Skew Its ROCE? … 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.

Simply Wall St -

Is Klöckner & Co SE (ETR:KCO) Potentially Undervalued?

A question to answer is whether Klöckner &amp; Co's current trading price of €5.02 reflective of the actual value of the small-cap? … Since Klöckner &amp; Co’s share price is quite volatile, we could potentially see it sink lower (or rise higher) in the future, giving us another chance to buy. … KCO’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value.

Simply Wall St -

Klöckner & Co SE (ETR:KCO): A Fundamentally Attractive Investment

Help shape the future of investing tools and you could win a $250 gift card! … I've been keeping an eye on Klöckner & Co SE (ETR:KCO) because I'm attracted to its fundamentals. … Looking at the company as a whole, as a potential stock investment, I believe KCO has a lot to offer.

Simply Wall St -

Did You Manage To Avoid Klöckner & Co's (ETR:KCO) 36% Share Price Drop?

That downside risk was realized by Klöckner & Co SE (ETR:KCO) shareholders over the last year, as the share price declined 36%. … This proportional reduction in earnings per share isn't far from the 36% decrease in the share price. … Instead, the change in the share price seems to reduction in earnings per share, alone.

Simply Wall St -

KCO Company Info

Description

Klöckner & Co SE, through its subsidiaries, distributes steel and metal products. It operates through Kloeckner Metals Services Europe, Kloeckner Metals Switzerland, Kloeckner Metals Distribution Europe, and Kloeckner Metals US segments. The company’s product portfolio includes flat steel products, such as thin sheets and strips, as well as thick sheets; long steel products comprising merchant bars, sectional steel, and beams; tubes und hollow sections that include structural hollow sections, precision tubes, and seamless heavy-wall pipes; stainless steel and high-grade steel, which comprise sheet, profiles, and tubes; aluminum profiles, sheets, strips, and plates; and special products for building installations, roof and wall construction, and water supply. It also provides services, including cutting and splitting of steel strips; forming and manufacturing of pressed parts; CNC turning/milling; 2D/3D tube laser cutting; laser and water jet cutting; processing of structural steel; plasma and oxy-fuel cutting; shot blasting and primer painting; and sawing/drilling/rounding off. In addition, the company offers warehousing, logistics, and materials management services. It serves small to medium-sized steel and metal consumers from the construction, machinery, and mechanical engineering industries; and supplies intermediate products for the automotive, shipbuilding, and consumer goods industries. The company was founded in 1906 and is headquartered in Duisburg, Germany.

Details
Name: Klöckner & Co SE
KCO
Exchange: XTRA
Founded: 1906
€576,555,000
99,750,000
Website: http://www.kloeckner.com
Address: Klöckner & Co SE
Am Silberpalais 1,
Duisburg,
North Rhine-Westphalia, 47057,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA KCO Bearer Shares XETRA Trading Platform DE EUR 28. Jun 2006
OTCPK KLKN.F Bearer Shares Pink Sheets LLC US USD 28. Jun 2006
DB KCO Bearer Shares Deutsche Boerse AG DE EUR 28. Jun 2006
LSE 0KVR Bearer Shares London Stock Exchange GB EUR 28. Jun 2006
SWX KCO Bearer Shares SIX Swiss Exchange CH CHF 28. Jun 2006
WBAG KCO Bearer Shares Wiener Boerse AG AT EUR 28. Jun 2006
ETLX KCO Bearer Shares Eurotlx IT EUR 28. Jun 2006
BATS-CHIXE KCOD Bearer Shares BATS 'Chi-X Europe' GB EUR 28. Jun 2006
Number of employees
Current staff
Staff numbers
8,370
Klöckner & Co employees.
Industry
Trading Companies and Distributors
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/05 21:04
End of day share price update: 2019/12/05 00:00
Last estimates confirmation: 2019/11/30
Last earnings filing: 2019/11/01
Last earnings reported: 2019/09/30
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.