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Ahlstrom-Munksjö Oyj

DB:M9O
Snowflake Description

Moderate growth potential unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
M9O
DB
€2B
Market Cap
  1. Home
  2. DE
  3. Materials
Company description

Ahlstrom-Munksjö Oyj manufactures and sells fiber-based materials, supplies innovative and sustainable solutions to customers worldwide. The last earnings update was 73 days ago. More info.


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M9O Share Price and Events
7 Day Returns
-0.4%
DB:M9O
5%
Europe Forestry
1.2%
DE Market
1 Year Returns
-8.3%
DB:M9O
-13.3%
Europe Forestry
0.4%
DE Market
M9O Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ahlstrom-Munksjö Oyj (M9O) -0.4% -6.7% -6.5% -8.3% - -
Europe Forestry 5% 1% 7.1% -13.3% -0.1% 53.1%
DE Market 1.2% -1.3% -0.9% 0.4% 6.9% 24.4%
1 Year Return vs Industry and Market
  • M9O outperformed the Forestry industry which returned -13.3% over the past year.
  • M9O underperformed the Market in Germany which returned 0.4% over the past year.
Price Volatility
M9O
Industry
5yr Volatility vs Market

Value

 Is Ahlstrom-Munksjö Oyj 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 Ahlstrom-Munksjö Oyj 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 Ahlstrom-Munksjö Oyj.

DB:M9O Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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:M9O
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Forestry Unlevered Beta Simply Wall St/ S&P Global 1.36
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.365 (1 + (1- 22%) (79.23%))
1.81
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.81
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.81 * 5.96%)
11.01%

Discounted Cash Flow Calculation for DB:M9O using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Ahlstrom-Munksjö Oyj 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:M9O DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 11.01%)
2020 201.33 Analyst x3 181.36
2021 218.33 Analyst x3 177.16
2022 250.00 Analyst x1 182.74
2023 244.00 Analyst x1 160.66
2024 240.35 Est @ -1.5% 142.55
2025 237.99 Est @ -0.98% 127.15
2026 236.52 Est @ -0.62% 113.83
2027 235.66 Est @ -0.36% 102.17
2028 235.23 Est @ -0.19% 91.86
2029 235.08 Est @ -0.06% 82.70
Present value of next 10 years cash flows €1,362.00
DB:M9O DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €235.08 × (1 + 0.23%) ÷ (11.01% – 0.23%)
€2,184.73
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €2,184.73 ÷ (1 + 11.01%)10
€768.55
DB:M9O Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €1,362.00 + €768.55
€2,130.55
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €2,130.55 / 115.29
€18.48
DB:M9O Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:M9O represents 0.97651x of HLSE:AM1
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.97651x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 18.48 x 0.97651
€18.05
Value per share (EUR) From above. €18.05
Current discount Discount to share price of €13.30
= -1 x (€13.30 - €18.05) / €18.05
26.3%

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

Current Discount
Amount off the current price Ahlstrom-Munksjö Oyj is available for.
Intrinsic value
26%
Share price is €13.3 vs Future cash flow value of €18.05
Current Discount Checks
For Ahlstrom-Munksjö Oyj to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Ahlstrom-Munksjö Oyj's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Ahlstrom-Munksjö Oyj'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 Ahlstrom-Munksjö Oyj's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ahlstrom-Munksjö Oyj's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:M9O PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in EUR €0.16
HLSE:AM1 Share Price ** HLSE (2019-10-11) in EUR €13.62
Europe Forestry Industry PE Ratio Median Figure of 31 Publicly-Listed Forestry Companies 10.27x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.64x

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

** Primary Listing of Ahlstrom-Munksjö Oyj.

DB:M9O PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= HLSE:AM1 Share Price ÷ EPS (both in EUR)

= 13.62 ÷ 0.16

83.26x

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

  • Ahlstrom-Munksjö Oyj is overvalued based on earnings compared to the Europe Forestry industry average.
  • Ahlstrom-Munksjö Oyj is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Ahlstrom-Munksjö Oyj's expected growth come at a high price?
Raw Data
DB:M9O PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 83.26x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
35.2%per year
Europe Forestry Industry PEG Ratio Median Figure of 19 Publicly-Listed Forestry Companies 0.3x
Germany Market PEG Ratio Median Figure of 265 Publicly-Listed Companies 1.37x

*Line of best fit is calculated by linear regression .

DB:M9O PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 83.26x ÷ 35.2%

2.37x

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

  • Ahlstrom-Munksjö Oyj is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Ahlstrom-Munksjö Oyj's assets?
Raw Data
DB:M9O PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in EUR €9.67
HLSE:AM1 Share Price * HLSE (2019-10-11) in EUR €13.62
Europe Forestry Industry PB Ratio Median Figure of 39 Publicly-Listed Forestry Companies 1.15x
Germany Market PB Ratio Median Figure of 597 Publicly-Listed Companies 1.72x
DB:M9O PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= HLSE:AM1 Share Price ÷ Book Value per Share (both in EUR)

= 13.62 ÷ 9.67

1.41x

* Primary Listing of Ahlstrom-Munksjö Oyj.

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

  • Ahlstrom-Munksjö Oyj is overvalued based on assets compared to the Europe Forestry industry average.
X
Value checks
We assess Ahlstrom-Munksjö Oyj'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 Forestry 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 Forestry industry average (and greater than 0)? (1 check)
  5. Ahlstrom-Munksjö Oyj has a total score of 1/6, see the detailed checks below.

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

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

Future Performance

 How is Ahlstrom-Munksjö Oyj expected to perform in the next 1 to 3 years based on estimates from 3 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
35.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ahlstrom-Munksjö Oyj expected to grow at an attractive rate?
  • Ahlstrom-Munksjö Oyj's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Ahlstrom-Munksjö Oyj's earnings growth is expected to exceed the Germany market average.
  • Ahlstrom-Munksjö Oyj's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:M9O Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:M9O Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 35.2%
DB:M9O Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 2.5%
Europe Forestry Industry Earnings Growth Rate Market Cap Weighted Average 3.4%
Europe Forestry Industry Revenue Growth Rate Market Cap Weighted Average 1.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.9%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*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:M9O Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:M9O Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 354
2022-12-31 3,118 360 169 1
2021-12-31 3,093 341 166 3
2020-12-31 3,031 328 148 3
2019-12-31 2,967 277 82 3
2019-10-11
DB:M9O Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-06-30 2,782 152 17
2019-03-31 2,624 116 24
2018-12-31 2,438 92 42
2018-09-30 2,273 138 84
2018-06-30 2,249 162 82
2018-03-31 2,238 175 77
2017-12-31 1,960 187 66
2017-09-30 1,695 151 55
2017-06-30 1,423 132 46
2017-03-31 1,149 127 47
2016-12-31 1,143 114 43
2016-09-30 1,151 118 38

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Ahlstrom-Munksjö Oyj's earnings are expected to grow significantly at over 20% yearly.
  • Ahlstrom-Munksjö Oyj's revenue is expected to grow by 2.5% 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:M9O 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 3 Analyst Estimates (S&P Global) See Below

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

DB:M9O Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 1.47 1.47 1.47 1.00
2021-12-31 1.44 1.56 1.31 3.00
2020-12-31 1.28 1.51 1.06 3.00
2019-12-31 0.71 0.83 0.59 3.00
2019-10-11
DB:M9O Past Financials Data
Date (Data in EUR Millions) EPS *
2019-06-30 0.16
2019-03-31 0.24
2018-12-31 0.43
2018-09-30 0.87
2018-06-30 0.86
2018-03-31 0.80
2017-12-31 0.78
2017-09-30 0.75
2017-06-30 0.74
2017-03-31 0.92
2016-12-31 0.85
2016-09-30 0.75

*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.
  • Ahlstrom-Munksjö Oyj is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Ahlstrom-Munksjö Oyj'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.
Ahlstrom-Munksjö Oyj has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

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

Past Performance

  How has Ahlstrom-Munksjö Oyj 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 Ahlstrom-Munksjö Oyj's growth in the last year to its industry (Forestry).
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.
  • Ahlstrom-Munksjö Oyj has delivered over 20% year on year earnings growth in the past 5 years.
  • Ahlstrom-Munksjö Oyj's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Ahlstrom-Munksjö Oyj's 1-year earnings growth is negative, it can't be compared to the Europe Forestry industry average.
Earnings and Revenue History
Ahlstrom-Munksjö Oyj'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 Ahlstrom-Munksjö Oyj Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:M9O Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 2,781.90 17.40 552.30
2019-03-31 2,624.40 24.40 511.30
2018-12-31 2,438.10 41.60 464.80
2018-09-30 2,272.90 84.00 423.10
2018-06-30 2,248.80 82.30 423.00
2018-03-31 2,238.00 77.00 425.00
2017-12-31 1,959.90 65.90 374.20
2017-09-30 1,695.20 55.10 119.60
2017-06-30 1,423.30 46.10 139.40
2017-03-31 1,149.20 46.90 151.90
2016-12-31 1,142.90 43.10 218.00
2016-09-30 1,150.50 38.30 469.10
2016-06-30 1,150.20 33.30 472.20
2016-03-31 1,138.50 19.00 477.70
2015-12-31 1,130.70 22.40 478.20
2015-09-30 1,124.60 17.80 480.60
2015-06-30 1,134.00 11.00 478.50
2015-03-31 1,138.30 12.20 480.20
2014-12-31 1,148.70 7.00 487.60
2014-09-30 1,123.10 -21.70 450.70
2014-06-30 1,091.90 -25.60 440.70
2014-03-31 1,005.80 -51.50 426.90
2013-12-31 870.20 -57.70 370.00
2013-09-30 771.50 -36.10 349.50
2013-06-30 670.90 -35.60 306.70
2013-03-31 613.15 -13.20 256.25
2012-12-31 609.80 -11.00 248.50

*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.
  • Ahlstrom-Munksjö Oyj has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Ahlstrom-Munksjö Oyj used its assets less efficiently than the Europe Forestry industry average last year based on Return on Assets.
  • Ahlstrom-Munksjö Oyj's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Ahlstrom-Munksjö Oyj'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 Forestry 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.
Ahlstrom-Munksjö Oyj has a total score of 1/6, 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 Ahlstrom-Munksjö Oyj'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 Ahlstrom-Munksjö Oyj's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ahlstrom-Munksjö Oyj is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Ahlstrom-Munksjö Oyj's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Ahlstrom-Munksjö Oyj'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 not covered by short term assets, assets are 0.8x 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 Ahlstrom-Munksjö Oyj Company Filings, last reported 3 months ago.

DB:M9O Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 1,125.50 1,185.00 191.30
2019-03-31 1,123.70 1,256.00 218.80
2018-12-31 1,162.20 1,161.80 151.00
2018-09-30 1,034.40 651.60 194.90
2018-06-30 1,014.10 609.30 187.10
2018-03-31 993.90 620.30 224.90
2017-12-31 1,038.00 616.00 245.90
2017-09-30 1,028.20 629.90 225.70
2017-06-30 1,018.70 643.20 222.90
2017-03-31 427.40 306.60 121.90
2016-12-31 437.70 308.70 146.00
2016-09-30 424.90 316.00 116.20
2016-06-30 418.00 326.00 103.40
2016-03-31 410.60 328.00 89.60
2015-12-31 401.30 327.60 105.10
2015-09-30 387.70 315.00 47.80
2015-06-30 406.50 313.80 50.20
2015-03-31 412.20 304.60 60.20
2014-12-31 413.60 303.20 84.10
2014-09-30 420.80 307.50 65.50
2014-06-30 427.70 306.40 61.10
2014-03-31 430.00 316.30 75.20
2013-12-31 423.80 308.00 83.10
2013-09-30 385.70 325.10 64.30
2013-06-30 389.10 320.80 52.60
2013-03-31 199.50 274.50 57.10
2012-12-31 199.50 268.30 57.10
  • Ahlstrom-Munksjö Oyj's level of debt (105.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (69.6% vs 105.3% today).
  • Debt is not well covered by operating cash flow (12.8%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.1x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Ahlstrom-Munksjö Oyj'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. Ahlstrom-Munksjö Oyj has a total score of 1/6, 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 Ahlstrom-Munksjö Oyj's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.82%
Current annual income from Ahlstrom-Munksjö Oyj dividends. Estimated to be 4.19% next year.
If you bought €2,000 of Ahlstrom-Munksjö Oyj shares you are expected to receive €76 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?
  • Ahlstrom-Munksjö Oyj's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.48%).
  • Ahlstrom-Munksjö Oyj's dividend is below the markets top 25% of dividend payers in Germany (3.96%).
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:M9O 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 3 Analyst Estimates (S&P Global) See Below
Europe Forestry Industry Average Dividend Yield Market Cap Weighted Average of 24 Stocks 4.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 4%

Industry and Market average data is calculated daily.

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

DB:M9O Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.61 3.00
2020-12-31 0.57 3.00
2019-12-31 0.53 3.00
2019-10-11
DB:M9O Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-28 0.520 3.705
2018-03-21 0.520 3.557
2017-02-28 0.450 2.594
2017-02-16 0.680 4.455
2016-03-10 0.300 2.608
2016-02-11 0.300 3.440
2015-03-17 0.250 2.767
2015-02-12 0.250 2.585

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

  • Whilst dividend payments have been stable, Ahlstrom-Munksjö Oyj has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Ahlstrom-Munksjö Oyj only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Ahlstrom-Munksjö Oyj's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess Ahlstrom-Munksjö Oyj's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - 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 Ahlstrom-Munksjö Oyj afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ahlstrom-Munksjö Oyj has a total score of 2/6, see the detailed checks below.


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

Management

 What is the CEO of Ahlstrom-Munksjö Oyj'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
Hans Sohlström
COMPENSATION €687,196
AGE 55
TENURE AS CEO 1.5 years
CEO Bio

Mr. Hans Sohlstrom, M.Sc. (Tech.), M. Sc. (Econ.), has been the President and Chief Executive Officer of Ahlstrom-Munksjö Oyj since April 16, 2018. Mr. Sohlstrom was the President and Chief Executive Officer of Ahlström Capital Oy since February 2016 till April 2018. Mr. Sohlstrom serves as an Executive Vice President of Rautaruukki Corporation. Mr. Sohlstrom served as the Chief Executive Officer and President of Rettig Group Oy Ab from August 1, 2012 to February 13, 2016. He served as an Executive Vice President of Corporate Relations & Development at UPM-Kymmene Oyj from 2008 to August 1, 2012 and also as its Member of Group Executive Board from 2004 to August 1, 2012. He served as an Executive Vice President of New Businesses and Biofuels UPM-Kymmene Corp. from May 2007 to 2008 and Vice President, Sales and Marketing from 1998 to 2004. Mr. Sohlstrom served as an Executive Vice President of Business Development of UPM-Kymmene Corp., since May 2007. He has held various executive and managerial positions at UPM-Kymmene Corporation from 1990 to 2012. He served as an Executive Vice President Marketing at UPM-Kymmene Oyj since March 2004 to 2012. He served Various tasks in business control and development, procurement, planning, production and maintenance at Oy Wilh. Schauman Ab, Nordland Papier GmbH and Kymmene Oy. From 1984 to 1989, Mr. Sohlstrom served as Marketing Assistant of Finnpap from 1989 to 1990, Marketing Manager of Stracel S.A. from 1990 to 1994 and Mill Director of Jmsnkoski MFC and SC mills, from 1994 to 1998. He served as Mill Director of United Paper Mills Ltd. from 1994 to 1998. He served as Management posts in sales and marketing, Publication Papers from 1998 to 2002 and Senior Vice President of Sales and Marketing for Magazine Papers Division of UPM-Kymmene Corp. from 2002 to 2004. He served as Chairman and Director of Ahlstrom-Munksjö Oyj from April 1, 2017 to March 21, 2018. He has been the Chairman of Ahlstrom Oyj since 2016. He serves as the Chairman of Rettig ICC bv. He served as the Chairman of Nordkalk Oy Ab until November 28, 2016. He served as Chairman of German-Finnish Chamber of Commerce from 2011 to 2013. He had been the Vice Chairman of Destia Oy since March 17, 2016 until June 2018. He served as Vice Chair of Destia Group Oyj since March 8, 2017 until June 2018. Mr. Sohlstrom has been Vice Chairman of German-Finnish Chamber of Commerce since 2013 and has been its Member since 2006. He served as Vice Chairman and Director at Finnish Forest Industries Federation. He has been a Director of Destia Group Oyj since March 17, 2016 and Ahlstrom Oyj since April 5, 2016. Mr. Sohlstrom served as a Director of Rettig Group Oy Ab from February 12, 2016 to March 2017. Mr. Sohlstrom served as a Member of Supervisory Board at Rautaruukki Corporation until April 2010. He has been a Member of the Advisory Council at Nordea Bank Finland since 2013. Mr. Sohlstrom holds M.Sc. in Economics and Technology.

CEO Compensation
  • Insufficient data for Hans to compare compensation growth.
  • Hans's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Ahlstrom-Munksjö Oyj management team in years:

0.6
Average Tenure
52.5
Average Age
  • The average tenure for the Ahlstrom-Munksjö Oyj management team is less than 2 years, this suggests a new team.
Management Team

Hans Sohlström

TITLE
CEO & President
COMPENSATION
€687K
AGE
55
TENURE
1.5 yrs

Sakari Ahdekivi

TITLE
Deputy CEO
AGE
56
TENURE
0.6 yrs

Johan Lindh

TITLE
Vice President of Communications & Investor Relations

Andreas Elving

TITLE
Executive VP of Legal & General Counsel
AGE
43

Tarja Takko

TITLE
Acting Executive Vice President of People & Safety
TENURE
0.3 yrs

Anna Bergquist

TITLE
Senior Vice President of Strategic Development
AGE
39

Dan Adrianzon

TITLE
Executive Vice President of Business Area Industrial Solutions
AGE
59
TENURE
0.3 yrs

Daniele Borlatto

TITLE
Executive Vice President of Business Area Filtration and Performance
AGE
50

Anders Hilderman

TITLE
Senior Vice President of Sustainability
AGE
63
TENURE
4.1 yrs

Omar Hoek

TITLE
Executive Vice President of Specialties
AGE
50
Board of Directors Tenure

Average tenure and age of the Ahlstrom-Munksjö Oyj board of directors in years:

2.5
Average Tenure
55
Average Age
  • The average tenure for the Ahlstrom-Munksjö Oyj board of directors is less than 3 years, this suggests a new board.
Board of Directors

Peter Seligson

TITLE
Independent Chairman of the Board
AGE
55
TENURE
1.6 yrs

Elisabet Björklund

TITLE
Independent Vice Chairman of the Board
AGE
61
TENURE
2.9 yrs

Hannele Jakosuo-Jansson

TITLE
Independent Director
AGE
53
TENURE
6.8 yrs

Alexander Ehrnrooth

TITLE
Board Member
AGE
45
TENURE
5.8 yrs

Johan Gullichsen

TITLE
Independent Director
AGE
55
TENURE
2.5 yrs

Harri-Pekka Kaukonen

TITLE
Independent Director
AGE
56
TENURE
2.5 yrs

Valerie Mars

TITLE
Independent Director
AGE
60
TENURE
1.6 yrs

Lasse Heinonen

TITLE
Director
AGE
51
TENURE
1.1 yrs

Jaakko Eskola

TITLE
Independent Director
AGE
61
TENURE
0.6 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 Ahlstrom-Munksjö Oyj'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. Ahlstrom-Munksjö Oyj 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

Ahlstrom-Munksjö Oyj manufactures and sells fiber-based materials, supplies innovative and sustainable solutions to customers worldwide. It offers decor paper, filter media, release liners, abrasive backings, nonwovens, electrotechnical papers, glass fiber materials, food packaging and labeling products, tapes, medical fiber materials, and solutions for diagnostics. The company’s product portfolio solutions also comprise wetlaid nonwovens; balancing and primer foils; beverage packaging and filter solutions; coated specialties; fine art and printing papers; food processing and industrial liquid filtration products; glass fibers; graphic papers; health care materials; label papers; non-food packaging products; release papers; special filters and analytics; specialty pulp products; thin papers; and wallcoverings. It serves transportation; construction; food and beverage; furniture; health care and life science; non-food consumer goods; general industry; and energy industries. The company was formerly known as Munksjö Oyj and changed its name to Ahlstrom-Munksjö Oyj in March 2017. Ahlstrom-Munksjö Oyj was founded in 1862 and is headquartered in Stockholm, Sweden.

Details
Name: Ahlstrom-Munksjö Oyj
M9O
Exchange: DB
Founded: 1862
€1,570,228,729
115,288,453
Website: http://www.ahlstrom-munksjo.com
Address: Ahlstrom-Munksjö Oyj
Klarabergsviadukten 70 D,
5th Floor,
Stockholm,
11164,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
HLSE AM1 Ordinary Shares OMX Nordic Exchange Helsinki FI EUR 07. Jun 2013
OTCPK MNKK.F Ordinary Shares Pink Sheets LLC US USD 07. Jun 2013
DB M9O Ordinary Shares Deutsche Boerse AG DE EUR 07. Jun 2013
LSE 0QEQ Ordinary Shares London Stock Exchange GB EUR 07. Jun 2013
OM AM1S Ordinary Shares OMX Nordic Exchange Stockholm SE SEK 07. Jun 2013
BMV AM1 N Ordinary Shares Bolsa Mexicana de Valores MX MXN 07. Jun 2013
BATS-CHIXE AM1H Ordinary Shares BATS 'Chi-X Europe' GB EUR 07. Jun 2013
Number of employees
Current staff
Staff numbers
8,000
Ahlstrom-Munksjö Oyj employees.
Industry
Paper Products
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/11 22:49
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/09/18
Last earnings filing: 2019/07/30
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


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

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