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Griñó Ecologic, S.A. provides environmental and waste treatment services in Spain. The last earnings update was 225 days ago. More info.
7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
---|---|---|---|---|---|---|
Griñó Ecologic (GRI) | 0% | 0% | 3.5% | 19.2% | 16.4% | -37.1% |
Europe Commercial Services | 1.7% | 2.3% | 5.3% | 15.1% | 4.4% | 16.8% |
ES Market | 1.7% | -0.1% | 2.1% | 6.9% | 2.4% | -5.1% |
Is Griñó Ecologic undervalued based on future cash flows and its price relative to the stock market?
Below are the data sources, inputs and calculation used to determine the intrinsic value for Griñó Ecologic.
Data Point | Source | Value |
---|---|---|
Valuation Model | 2 Stage Free Cash Flow to Equity | |
Levered Free Cash Flow | Extrapolated from most recent financials. | See below |
Discount Rate (Cost of Equity) | See below | 6.8% |
Perpetual Growth Rate | 10-Year ES 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.
Data Point | Calculation/ Source | Result |
---|---|---|
Risk-Free Rate | 10-Year ES Govt Bond Rate | 0.4% |
Equity Risk Premium | S&P Global | 7.5% |
Commercial Services Unlevered Beta | Simply Wall St/ S&P Global | 0.67 |
Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.668 (1 + (1- 25%) (25.95%)) |
0.865 |
Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.86 |
Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.39% + (0.865 * 7.46%) |
6.84% |
Discounted Cash Flow Calculation for BME:GRI using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Griñó Ecologic 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.
Levered FCF (EUR, Millions) | Source |
Present Value Discounted (@ 6.84%) |
|
---|---|---|---|
2020 | 0.86 | Est @ -4.84% | 0.80 |
2021 | 0.83 | Est @ -3.27% | 0.73 |
2022 | 0.81 | Est @ -2.17% | 0.66 |
2023 | 0.80 | Est @ -1.4% | 0.61 |
2024 | 0.79 | Est @ -0.87% | 0.57 |
2025 | 0.79 | Est @ -0.49% | 0.53 |
2026 | 0.79 | Est @ -0.23% | 0.49 |
2027 | 0.79 | Est @ -0.04% | 0.46 |
2028 | 0.79 | Est @ 0.09% | 0.43 |
2029 | 0.79 | Est @ 0.18% | 0.41 |
Present value of next 10 years cash flows | €5.00 |
Calculation | Result | |
---|---|---|
Terminal Value |
= FCF2029
× (1 + g) ÷ (Discount Rate – g)
= €0.79 × (1 + 0.39%) ÷ (6.84% – 0.39%) |
€12.26 |
Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= €12.26 ÷ (1 + 6.84%)10 |
€6.33 |
Calculation | Result | |
---|---|---|
Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= €5.00 + €6.33 |
€11.33 |
Equity Value per Share (EUR) |
= Total value / Shares Outstanding
= €11.33 / 30.33 |
€0.37 |
Calculation | Result | |
---|---|---|
Value per share (EUR) | From above. | €0.37 |
Current discount | Discount to share price of
€1.49
= -1 x (€1.49 - €0.37) / €0.37 |
-298.9% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Data Point | Source | Value |
---|---|---|
Earnings Per Share * | Company Filings (2018-12-31) in EUR | €0.00 |
BME:GRI Share Price ** | BME (2019-12-11) in EUR | €1.49 |
Europe Commercial Services Industry PE Ratio | Median Figure of 103 Publicly-Listed Commercial Services Companies | 17.65x |
Spain Market PE Ratio | Median Figure of 150 Publicly-Listed Companies | 17.17x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Griñó Ecologic.
Calculation | Outcome | |
---|---|---|
PE Ratio | = BME:GRI Share Price ÷ EPS (both in EUR) = 1.49 ÷ 0.00 |
300.83x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Data Point | Source | Value |
---|---|---|
PE Ratio | See PE Ratio Section | 300.83x |
Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts |
Not available |
Europe Commercial Services Industry PEG Ratio | Median Figure of 52 Publicly-Listed Commercial Services Companies | 1.44x |
Spain Market PEG Ratio | Median Figure of 81 Publicly-Listed Companies | 1.18x |
*Line of best fit is calculated by linear regression .
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Data Point | Source | Value |
---|---|---|
Book Value per Share | Company Filings (2018-12-31) in EUR | €0.91 |
BME:GRI Share Price * | BME (2019-12-11) in EUR | €1.49 |
Europe Commercial Services Industry PB Ratio | Median Figure of 141 Publicly-Listed Commercial Services Companies | 1.64x |
Spain Market PB Ratio | Median Figure of 186 Publicly-Listed Companies | 1.51x |
Calculation | Outcome | |
---|---|---|
PB Ratio | = BME:GRI Share Price ÷ Book Value per Share (both in EUR) = 1.49 ÷ 0.91 |
1.64x |
* Primary Listing of Griñó Ecologic.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Griñó Ecologic has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.
Data Point | Source | Value (per year) |
---|---|---|
Europe Commercial Services Industry Earnings Growth Rate | Market Cap Weighted Average | 15.7% |
Europe Commercial Services Industry Revenue Growth Rate | Market Cap Weighted Average | 5% |
Spain Market Earnings Growth Rate | Market Cap Weighted Average | 10.1% |
Spain Market Revenue Growth Rate | Market Cap Weighted Average | 3.5% |
*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.
Data Point | Source | Value |
---|---|---|
Past Financials | Company Filings (11 months ago) | See Below |
Future Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
Date (Data in EUR Millions) | Revenue | Cash Flow | Net Income * |
---|---|---|---|
2018-12-31 | 38 | 2 | 0 |
2018-09-30 | 36 | 4 | 0 |
2018-06-30 | 34 | 5 | 0 |
2018-03-31 | 32 | 4 | 0 |
2017-12-31 | 30 | 3 | -1 |
2017-09-30 | 29 | 2 | -1 |
2017-06-30 | 28 | 2 | -2 |
2017-03-31 | 27 | 2 | -2 |
2016-12-31 | 27 | 2 | -2 |
2016-09-30 | 26 | -1 | |
2016-06-30 | 26 | 0 | |
2016-03-31 | 26 | 1 |
*GAAP earnings excluding extraordinary items.
Data Point | Source | Value |
---|---|---|
Past Financials | Company Filings (11 months ago) | See Below |
Future Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
All data from Griñó Ecologic Company Filings, last reported 11 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
Date (Data in EUR Millions) | EPS * |
---|---|
2018-12-31 | 0.00 |
2018-09-30 | 0.00 |
2018-06-30 | -0.01 |
2018-03-31 | -0.02 |
2017-12-31 | -0.02 |
2017-09-30 | -0.04 |
2017-06-30 | -0.06 |
2017-03-31 | -0.05 |
2016-12-31 | -0.05 |
2016-09-30 | -0.02 |
2016-06-30 | 0.01 |
2016-03-31 | 0.02 |
*GAAP earnings excluding extraordinary items.
How has Griñó Ecologic performed over the past 5 years?
All data from Griñó Ecologic Company Filings, last reported 11 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
Date (Data in EUR Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
---|---|---|---|---|
2018-12-31 | 38.49 | 0.15 | 6.23 | |
2018-09-30 | 36.47 | -0.10 | 6.38 | |
2018-06-30 | 34.46 | -0.35 | 9.28 | |
2018-03-31 | 32.36 | -0.48 | 8.86 | |
2017-12-31 | 30.26 | -0.61 | 5.69 | |
2017-09-30 | 29.08 | -1.18 | 6.75 | |
2017-06-30 | 27.90 | -1.74 | 7.81 | |
2017-03-31 | 27.40 | -1.65 | 7.35 | |
2016-12-31 | 26.90 | -1.56 | 6.89 | |
2016-09-30 | 26.42 | -0.67 | 8.18 | |
2016-06-30 | 25.94 | 0.23 | 9.47 | |
2016-03-31 | 25.96 | 0.51 | 7.95 | |
2015-12-31 | 25.97 | 0.80 | 6.42 | |
2015-09-30 | 25.51 | 0.58 | 6.05 | |
2015-06-30 | 25.06 | 0.37 | 0.69 | |
2015-03-31 | 24.26 | 0.30 | 0.69 | |
2014-12-31 | 23.47 | 0.24 | 5.67 | |
2014-09-30 | 24.20 | 0.25 | 3.21 | |
2014-06-30 | 24.93 | 0.26 | 0.75 | |
2014-03-31 | 24.86 | 0.22 | 0.75 | |
2013-12-31 | 24.78 | 0.19 | 0.75 | |
2013-09-30 | 25.36 | -0.54 | 0.75 | |
2013-06-30 | 25.94 | -1.27 | 0.76 | |
2013-03-31 | 26.80 | -1.60 | 0.76 | |
2012-12-31 | 27.66 | -1.93 | 0.76 |
*GAAP earnings excluding extraordinary items.
How is Griñó Ecologic's financial health and their level of debt?
All data from Griñó Ecologic Company Filings, last reported 11 months ago.
Date (Data in EUR Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
---|---|---|---|
2018-12-31 | 27.57 | 11.23 | 5.63 |
2018-09-30 | 27.57 | 11.23 | 5.63 |
2018-06-30 | 27.14 | 10.91 | 3.83 |
2018-03-31 | 27.14 | 10.91 | 3.83 |
2017-12-31 | 27.47 | 11.54 | 2.76 |
2017-09-30 | 27.47 | 11.54 | 2.76 |
2017-06-30 | 27.67 | 12.34 | 6.12 |
2017-03-31 | 27.67 | 12.34 | 6.12 |
2016-12-31 | 28.29 | 12.78 | 5.42 |
2016-09-30 | 28.29 | 12.78 | 5.42 |
2016-06-30 | 29.50 | 12.92 | 3.29 |
2016-03-31 | 29.50 | 12.92 | 3.29 |
2015-12-31 | 29.95 | 13.93 | 4.65 |
2015-09-30 | 29.95 | 13.93 | 4.65 |
2015-06-30 | 29.33 | 15.95 | 3.04 |
2015-03-31 | 29.33 | 15.95 | 3.04 |
2014-12-31 | 29.19 | 13.97 | 2.68 |
2014-09-30 | 29.19 | 13.97 | 2.68 |
2014-06-30 | 31.07 | 0.00 | 4.27 |
2014-03-31 | 31.07 | 0.00 | 4.27 |
2013-12-31 | 30.80 | 14.20 | 4.63 |
2013-09-30 | 30.80 | 14.20 | 4.63 |
2013-06-30 | 30.14 | 4.95 | 2.93 |
2013-03-31 | 30.14 | 4.95 | 2.93 |
2012-12-31 | 29.90 | 16.16 | 4.28 |
What is Griñó Ecologic's current dividend yield, its reliability and sustainability?
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 0 Analyst Estimates (S&P Global) | See Below |
Europe Commercial Services Industry Average Dividend Yield | Market Cap Weighted Average of 75 Stocks | 3% |
Spain Market Average Dividend Yield | Market Cap Weighted Average of 81 Stocks | 4.3% |
Spain Minimum Threshold Dividend Yield | 10th Percentile | 1.4% |
Spain Bottom 25% Dividend Yield | 25th Percentile | 2.3% |
Spain Top 25% Dividend Yield | 75th Percentile | 5.5% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Mr. Juan Griño Piró serves as Chief Executive Officer and Chairman of the Board of Directors at Griñó Ecologic S.A.
BME:GRI Historical Debt, August 6th 2019 How Healthy Is Griñó Ecologic's Balance Sheet? … So the logical step is to look at the proportion of that EBIT that is matched by actual free cash flow. … Over the last two years, Griñó Ecologic actually produced more free cash flow than EBIT.
Simply Wall St - – Full articleAnalysts 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 Griñó Ecologic: 0.021 = €737k ÷ (€54m - €18m) (Based on the trailing twelve months to December 2018.) So, Griñó Ecologic has an ROCE of 2.1%. … What Are Current Liabilities, And How Do They Affect Griñó Ecologic's ROCE? … With a medium level of current liabilities boosting the ROCE a little, Griñó Ecologic's low ROCE is unappealing.
Simply Wall St - – Full articleCheck out our latest analysis for Griñó Ecologic We don't think that Griñó Ecologic's modest trailing twelve month profit has the market's full attention at the moment. … Over five years, Griñó Ecologic grew its revenue at 8.6% per year. … BME:GRI Income Statement, June 10th 2019 Take a more thorough look at Griñó Ecologic's financial health with this free report on its balance sheet.
Simply Wall St - – Full article(BME:GRI) with its market cap of €42m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.
Simply Wall St - – Full articleInvestors are always looking for growth in small-cap stocks like Griñó Ecologic SA (BME:GRI), with a market cap of €38m. … However, an important fact which most ignore is: how financially healthy is the business? … the current state of its operations and pathway to profitability.
Simply Wall St - – Full articleWhile small-cap stocks, such as Griñó Ecologic SA (BME:GRI) with its market cap of €37.89m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … the current state of its operations and pathway to profitability.
Simply Wall St - – Full articleCheck out our latest analysis for Griñó Ecologic BME:GRI Ownership_summary Mar 22nd 18 Institutional Ownership Institutional investors are one of the largest group of market participants and their buy-sell decisions on a company's stock can significantly impact prices, more so, when there are relatively small amounts of shares available on the market to trade. … Private Company Ownership Potential investors in GRI should also look at another important group of investors: private companies, with a stake of 94.41%, who are primarily invested because of strategic and capital gain interests. … Thus, potential investors should look into these business relations and check how it can impact long-term shareholder returns.Next Steps: Institutional ownership in GRI is not at a level that would concern investors.
Simply Wall St - – Full articleGRI has shrunken its total debt levels in the last twelve months, from €14.29M to €13.05M – this includes both the current and long-term debt. … Moreover, GRI has generated cash from operations of €2.03M over the same time period, resulting in an operating cash to total debt ratio of 15.52%, signalling that GRI’s debt is not appropriately covered by operating cash. … Running high debt, while not yet making money, can be risky in unexpected downturns as liquidity may dry up, making it hard to operate.Next Steps: At its current level of cash flow coverage, GRI has room for improvement to better cushion for events which may require debt repayment.
Simply Wall St - – Full article
Griñó Ecologic, S.A. provides environmental and waste treatment services in Spain. Its environmental services include custom, collection, and transportation; high pressure industrial cleaning; and management of urban and industrial waste. The company also operates waste treatment centers that offer transfer, sorting and recycling, composting, fuel production, disposal, and hazardous waste and energy recovery services. In addition, it generates energy from waste through energy recovery plants, diesel recovery plants, and gas plants. The company was founded in 1933 and is based in Lleida, Spain. Griñó Ecologic, S.A. is a subsidiary of Corporació Griñó, S.L.
Name: | Griñó Ecologic, S.A. |
GRI | |
Exchange: | BME |
Founded: | 1933 |
€45,184,378 | |
30,325,086 | |
Website: | http://www.grinyo.com |
Address: |
Griñó Ecologic, S.A. c/ Historiador Josep Lladonosa, 2, Lleida, Catalonia, 25002, Spain |
Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
---|---|---|---|---|---|---|---|
BME | GRI | Share Capital | Bolsas y Mercados Espanoles | ES | EUR | 29. Jul 2011 |
Environmental and Facilities Services | |
Commercial Services |
Area | Date (UTC time) |
---|---|
Company Analysis updated: | 2019/12/11 21:37 |
End of day share price update: | 2019/12/11 00:00 |
Last earnings filing: | 2019/04/30 |
Last earnings reported: | 2018/12/31 |
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.