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Imerys

DB:IY4
Snowflake Description

Undervalued established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IY4
DB
€2B
Market Cap
  1. Home
  2. DE
  3. Materials
Company description

Imerys S.A. provides mineral-based specialties various industries worldwide. The last earnings update was 14 days ago. More info.


Add to Portfolio Compare Print
  • Imerys has significant price volatility in the past 3 months.
IY4 Share Price and Events
7 Day Returns
9.3%
DB:IY4
6.6%
Europe Basic Materials
2.1%
DE Market
1 Year Returns
-45.4%
DB:IY4
-26.7%
Europe Basic Materials
-16.6%
DE Market
IY4 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Imerys (IY4) 9.3% -20% -32.1% -45.4% -68.3% -65%
Europe Basic Materials 6.6% -18.2% -32.2% -26.7% -36.7% -34%
DE Market 2.1% -12.6% -22.9% -16.6% -21.9% -27.8%
1 Year Return vs Industry and Market
  • IY4 underperformed the Basic Materials industry which returned -26.7% over the past year.
  • IY4 underperformed the Market in Germany which returned -16.6% over the past year.
Price Volatility
IY4
Industry
5yr Volatility vs Market

IY4 Value

 Is Imerys 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 Imerys 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 Imerys.

DB:IY4 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.6%
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:IY4
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.1%
Basic Materials Unlevered Beta Simply Wall St/ S&P Global 0.82
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.817 (1 + (1- 33%) (120.92%))
1.321
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.32
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.321 * 6.07%)
7.63%

Discounted Cash Flow Calculation for DB:IY4 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Imerys 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:IY4 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 7.63%)
2020 324.23 Analyst x3 301.25
2021 304.63 Analyst x3 262.97
2022 320.13 Analyst x3 256.75
2023 329.99 Est @ 3.08% 245.90
2024 336.72 Est @ 2.04% 233.12
2025 341.14 Est @ 1.31% 219.43
2026 343.87 Est @ 0.8% 205.51
2027 345.39 Est @ 0.44% 191.78
2028 346.06 Est @ 0.19% 178.53
2029 346.12 Est @ 0.02% 165.90
Present value of next 10 years cash flows €2,261.00
DB:IY4 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €346.12 × (1 + -0.39%) ÷ (7.63% – -0.39%)
€4,298.31
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €4,298.31 ÷ (1 + 7.63%)10
€2,060.25
DB:IY4 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €2,261.00 + €2,060.25
€4,321.25
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €4,321.25 / 78.80
€54.84
DB:IY4 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:IY4 represents 1.01212x of ENXTPA:NK
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.01212x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 54.84 x 1.01212
€55.50
Value per share (EUR) From above. €55.50
Current discount Discount to share price of €25.06
= -1 x (€25.06 - €55.50) / €55.50
54.8%

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

Current Discount
Amount off the current price Imerys is available for.
Intrinsic value
>50%
Share price is €25.06 vs Future cash flow value of €55.5
Current Discount Checks
For Imerys to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Imerys's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Imerys'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 Imerys's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Imerys's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:IY4 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €1.53
ENXTPA:NK Share Price ** ENXTPA (2020-04-07) in EUR €24.76
Europe Basic Materials Industry PE Ratio Median Figure of 33 Publicly-Listed Basic Materials Companies 9.52x
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 Imerys.

DB:IY4 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:NK Share Price ÷ EPS (both in EUR)

= 24.76 ÷ 1.53

16.16x

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

  • Imerys is overvalued based on earnings compared to the Europe Basic Materials industry average.
  • Imerys is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Imerys's expected growth come at a high price?
Raw Data
DB:IY4 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 16.16x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
28.3%per year
Europe Basic Materials Industry PEG Ratio Median Figure of 17 Publicly-Listed Basic Materials Companies 1.67x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

DB:IY4 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 16.16x ÷ 28.3%

0.57x

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

  • Imerys is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Imerys's assets?
Raw Data
DB:IY4 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €39.44
ENXTPA:NK Share Price * ENXTPA (2020-04-07) in EUR €24.76
Europe Basic Materials Industry PB Ratio Median Figure of 39 Publicly-Listed Basic Materials Companies 0.85x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.45x
DB:IY4 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:NK Share Price ÷ Book Value per Share (both in EUR)

= 24.76 ÷ 39.44

0.63x

* Primary Listing of Imerys.

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

  • Imerys is good value based on assets compared to the Europe Basic Materials industry average.
X
Value checks
We assess Imerys'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 Basic Materials 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 Basic Materials industry average (and greater than 0)? (1 check)
  5. Imerys has a total score of 5/6, 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.

IY4 Future Performance

 How is Imerys expected to perform in the next 1 to 3 years based on estimates from 6 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
28.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Imerys expected to grow at an attractive rate?
  • Imerys's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Imerys's earnings growth is expected to exceed the Germany market average.
  • Imerys's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:IY4 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:IY4 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 28.3%
DB:IY4 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts -0.8%
Europe Basic Materials Industry Earnings Growth Rate Market Cap Weighted Average 4.7%
Europe Basic Materials Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
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:IY4 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:IY4 Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 4,218 593 302 4
2021-12-31 4,204 558 286 6
2020-12-31 3,917 541 203 5
2020-04-07
DB:IY4 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 4,355 516 121
2019-09-30 4,485 -35
2019-06-30 4,543 473 -294
2019-03-31 4,584 -235
2018-12-31 4,590 616 -228
2018-09-30 4,356 0
2018-06-30 4,545 688 324
2018-03-31 4,693 381
2017-12-31 4,299 622 301
2017-09-30 4,432 342
2017-06-30 4,133 614 273
2017-03-31 4,240 299

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Imerys's earnings are expected to grow significantly at over 20% yearly.
  • Imerys's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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:IY4 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 6 Analyst Estimates (S&P Global) See Below

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

DB:IY4 Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 3.24 3.83 2.53 3.00
2021-12-31 3.46 4.21 2.64 4.00
2020-12-31 2.82 3.65 1.46 4.00
2020-04-07
DB:IY4 Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 1.53
2019-09-30 -0.44
2019-06-30 -3.71
2019-03-31 -2.96
2018-12-31 -2.88
2018-09-30 0.00
2018-06-30 4.10
2018-03-31 4.82
2017-12-31 3.81
2017-09-30 4.33
2017-06-30 3.47
2017-03-31 3.81

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Imerys is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Imerys'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.
Imerys 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.

IY4 Past Performance

  How has Imerys 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 Imerys's growth in the last year to its industry (Basic Materials).
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.
  • Imerys's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Imerys has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Imerys has become profitable in the last year making it difficult to compare the Europe Basic Materials industry average.
Earnings and Revenue History
Imerys'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 Imerys Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:IY4 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 4,354.50 121.20 1,957.70
2019-09-30 4,484.75 -34.95 531.00
2019-06-30 4,542.90 -294.00 2,066.30
2019-03-31 4,584.40 -234.80 2,142.20
2018-12-31 4,590.00 -228.40 2,142.20
2018-09-30 4,355.75 -0.35 3,633.50
2018-06-30 4,544.80 324.00 2,132.20
2018-03-31 4,692.80 381.10 2,122.50
2017-12-31 4,299.00 300.90 2,022.30
2017-09-30 4,432.20 341.60 1,903.20
2017-06-30 4,133.20 273.10 1,912.50
2017-03-31 4,240.30 299.20 1,903.20
2016-12-31 4,165.20 292.80 1,903.20
2016-09-30 4,128.70 68.90 1,890.30
2016-06-30 4,126.10 81.30 1,926.70
2016-03-31 4,151.20 72.30 1,890.30
2015-12-31 4,086.70 68.40 1,890.30
2015-09-30 3,991.00 283.50 1,656.20
2015-06-30 3,907.60 285.30 1,759.60
2015-03-31 3,757.70 262.50 1,654.50
2014-12-31 3,688.20 271.60 1,660.60
2014-09-30 3,673.00 249.10 1,635.50
2014-06-30 3,654.80 244.80 1,616.70
2014-03-31 3,672.40 249.50 1,637.00
2013-12-31 3,697.60 242.00 1,627.70
2013-09-30 3,720.90 267.10 1,698.70
2013-06-30 3,779.30 262.70 1,694.10

*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.
  • Imerys has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Imerys used its assets less efficiently than the Europe Basic Materials industry average last year based on Return on Assets.
  • Imerys's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Imerys'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 Basic Materials 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.
Imerys 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.

IY4 Health

 How is Imerys'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 Imerys's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Imerys is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Imerys's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Imerys'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 1.1x 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 Imerys Company Filings, last reported 3 months ago.

DB:IY4 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 3,162.00 2,093.80 671.60
2019-09-30 3,155.50 2,427.90 632.80
2019-06-30 3,155.50 2,157.20 632.80
2019-03-31 3,253.60 2,176.00 857.80
2018-12-31 3,253.60 2,176.00 857.80
2018-09-30 3,253.60 2,176.00 857.80
2018-06-30 2,927.30 2,798.50 465.70
2018-03-31 2,878.20 2,654.10 390.70
2017-12-31 2,878.20 2,652.00 390.70
2017-09-30 2,833.90 2,241.50 711.30
2017-06-30 2,833.90 2,241.50 711.30
2017-03-31 2,914.20 2,197.10 819.20
2016-12-31 2,914.20 2,197.10 819.20
2016-09-30 2,644.20 2,368.60 821.40
2016-06-30 2,644.20 2,368.60 821.40
2016-03-31 2,671.90 1,927.30 434.70
2015-12-31 2,671.90 1,927.30 434.70
2015-09-30 2,936.90 1,940.50 444.10
2015-06-30 2,936.90 1,940.50 444.10
2015-03-31 2,470.50 1,563.10 685.70
2014-12-31 2,470.50 1,563.10 685.70
2014-09-30 2,311.50 1,253.80 365.00
2014-06-30 2,311.50 1,253.80 365.00
2014-03-31 2,271.70 1,320.00 427.40
2013-12-31 2,271.70 1,320.00 427.40
2013-09-30 2,287.60 1,455.70 396.70
2013-06-30 2,287.60 1,455.70 396.70
  • Imerys's level of debt (66.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (63.3% vs 66.2% today).
  • Debt is well covered by operating cash flow (24.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.4x coverage).
X
Financial health checks
We assess Imerys'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. Imerys has a total score of 3/6, 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.

IY4 Dividends

 What is Imerys'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
8.68%
Current annual income from Imerys dividends. Estimated to be 9.32% next year.
If you bought €2,000 of Imerys shares you are expected to receive €174 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?
  • Imerys's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.67%).
  • Imerys's dividend is above the markets top 25% of dividend payers in Germany (4.71%).
Upcoming dividend payment

Purchase Imerys before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:IY4 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 6 Analyst Estimates (S&P Global) See Below
Europe Basic Materials Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 4.5%
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:IY4 Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 2.59 4.00
2021-12-31 2.31 6.00
2020-12-31 2.13 6.00
2020-04-07
DB:IY4 Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2020-03-24 2.150 9.284
2020-02-12 2.150 6.964
2019-02-14 2.150 5.348
2018-02-15 2.075 3.439
2017-02-20 1.870 2.411
2016-02-11 1.750 2.746
2015-04-30 1.650 2.613
2014-04-29 1.600 2.591
2013-02-14 1.550 2.839
2012-03-22 1.500 3.492
2012-02-15 1.500 3.314
2011-04-28 1.200 2.859
2010-04-29 1.000 2.172

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 Imerys's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.4x coverage).
X
Income/ dividend checks
We assess Imerys'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 Imerys afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Imerys has a total score of 5/6, see the detailed checks below.


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

IY4 Management

 What is the CEO of Imerys'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
Alessandro Dazza
AGE 48
TENURE AS CEO 0.2 years
CEO Bio

Mr. Alessandro Dazza served as Chief Executive Officer of Flexible Packaging and Engineered Materials at Mondi plc since 2019 until 2020. He served as Chief Executive Officer of Fibre Packaging/Converting at Mondi plc since July 2019 until 2019. Mr. Dazza served as Chief Executive Officer of Flexible Packaging and Engineered Materials at Mondi Limited since 2019 until 2020. He serves as Chief Executive Officer at Imerys S.A. since February 17, 2020 and served as its Vice President, Supervision of the Fused Minerals, Refractory Minerals, Monolithic Refractories and Kerneos divisions since 2018 until November 2018. Mr. Dazza was Head of Supervision of Fused Minerals & Refractory Minerals Divisions at Imerys SA since September 19, 2017 until 2018. He served as Head of Supervision des divisions Minéraux Fondus, Minéraux Réfractaires, Réfractaires Monolithiques at Imerys SA since August 1, 2017 until September 19, 2017. Mr. Dazza served as Vice-President of High Resistance Minerals business group at Imerys SA since July 1, 2013 until August 1, 2017 and was it’s in charge of High Resistance Minerals business group. He served as General Manager of the Abrasives business unit at Imerys since 2004, then served as its Vice-President and General Manager of the Fused Minerals division since 2008.

CEO Compensation
  • Insufficient data for Alessandro to compare compensation growth.
  • Insufficient data for Alessandro to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Imerys management team in years:

1.4
Average Tenure
53.5
Average Age
  • The average tenure for the Imerys management team is less than 2 years, this suggests a new team.
Management Team

Alessandro Dazza

TITLE
Chief Executive Officer
AGE
48
TENURE
0.2 yrs

Olivier Pirotte

TITLE
Chief Financial Officer
AGE
53
TENURE
4.8 yrs

Vincent Gouley

TITLE
Head of Financial Communication
TENURE
5.5 yrs

Frédérique Berthier-Raymond

TITLE
Group General Counsel & Secretary of the Board
TENURE
1.4 yrs

Vincent Lecerf

TITLE
Chief Human Resources Officer
AGE
55
TENURE
3.3 yrs

Olivier Hautin

TITLE
Chief Strategy Officer
AGE
54
TENURE
1.4 yrs

Jean-François Claver

TITLE
Chief Industrial Officer
TENURE
3.5 yrs

Philippe Bourg

TITLE
Senior Vice President of Refractory Abrasives & Construction
TENURE
1.4 yrs

Michel Cornelissen

TITLE
Senior Vice President of High Temperature Solutions
TENURE
1.4 yrs

Guillaume Delacroix

TITLE
Senior Vice President of Performance Minerals EMEA
TENURE
1.4 yrs
Board of Directors Tenure

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

5.5
Average Tenure
62.5
Average Age
  • The tenure for the Imerys board of directors is about average.
Board of Directors

Patrick Kron

TITLE
Independent Chairman of the Board
COMPENSATION
€11K
AGE
66
TENURE
0.8 yrs

Paul Desmarais

TITLE
Vice Chairman
COMPENSATION
€122K
AGE
37
TENURE
3.9 yrs

Aldo Cardoso

TITLE
Independent Director
COMPENSATION
€113K
AGE
63
TENURE
14.9 yrs

Ian Gallienne

TITLE
Director
COMPENSATION
€102K
AGE
48
TENURE
10 yrs

Marion Guillou

TITLE
Independent Director
COMPENSATION
€54K
AGE
65
TENURE
7.6 yrs

Marie-Françoise Walbaum

TITLE
Independent Director
COMPENSATION
€92K
AGE
69
TENURE
7 yrs

Ulysses Paris Kyriacopoulos

TITLE
Director
COMPENSATION
€54K
AGE
67
TENURE
5 yrs

Éliane Augelet-Petit

TITLE
Employee Representative Director
COMPENSATION
€53K
AGE
62
TENURE
5.5 yrs

Eric d'Ortona

TITLE
Employee Representative Director
COMPENSATION
€36K
AGE
56
TENURE
5.5 yrs

Laurent Raets

TITLE
Non-voting Observer
COMPENSATION
€36K
AGE
40
TENURE
1.9 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 Imerys'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. Imerys 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.

IY4 News

Simply Wall St News

IY4 Company Info

Description

Imerys S.A. provides mineral-based specialties various industries worldwide. The company operates through Energy Solutions & Specialties, Filtration & Performance Additives, Ceramic Materials, and High Resistance Minerals segments. It provides ground and precipitated calcium carbonates, and lime; cast/vibrated and quick dry castables, ramming and dry mixes, taphole clays, gunning materials, and prefabricated forms, as well as project management services for refractories; graphite and carbon products; and oilfield solutions. The company also offers performance additives; diatomite, perlite and expanded perlite, and structured alumino-silicate for filtration; and bauxite, bentonite, fluxes, moler, perlite, and zeolite products for metallurgy. In addition, it provides clay roof tiles and accessories, metal profiles, photovoltaic and heliothermal solar power generating solutions; kaolin; and mineral solutions for ceramics. Further, the company offers fused aluminas, tabular alumina, silicon carbide, fused magnesia, electrically fused mullite, zirconia-based chemicals, and electrically fused zirconia; and calcium aluminate-based binders, andalusite, ball clay, chamotte, metakaolin, mullite, and fused silica. It serves primarily serves aerospace, specialty paper, waste recycling, agriculture and horticulture, pharmaceuticals health and beauty, tableware, electronics, office paper, infrastructure, food, packaging, magazines, other consumer goods, renovation, construction, steelmaking, automotive, catalogs and advertising, industrial equipment, and energy sectors. The company was founded in 1880 and is headquartered in Paris, France. Imerys S.A. is a subsidiary of Belgian Securities BV.

Details
Name: Imerys S.A.
IY4
Exchange: DB
Founded: 1880
€1,951,146,334
78,802,356
Website: http://www.imerys.com
Address: Imerys S.A.
43 Quai de Grenelle,
Paris,
Ile-de-France, 75015,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA NK Ordinary Shares Euronext Paris FR EUR 02. Jan 1980
OTCPK IMYS.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1980
DB IY4 Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1980
LSE 0NPX Ordinary Shares London Stock Exchange GB EUR 02. Jan 1980
BATS-CHIXE NKP Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1980
ETLX IY4 Ordinary Shares Eurotlx IT EUR 02. Jan 1980
Number of employees
Current staff
Staff numbers
16,296
Imerys employees.
Industry
Construction Materials
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 21:48
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/07
Last earnings filing: 2020/03/24
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.