Loading...

You're on the old version of Simply Wall St. We will no longer be supporting this site, so we recommend you switch to our brand new platform.

RHI Magnesita

BATS-CHIXE:RHIML
Snowflake Description

Good value with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
RHIML
BATS-CHIXE
£951M
Market Cap
  1. Home
  2. GB
  3. Materials
Company description

RHI Magnesita N.V. produces and sells refractory products used in high-temperature industrial processes worldwide. The last earnings update was 235 days ago. More info.


Add to Portfolio Compare Print
  • RHI Magnesita has significant price volatility in the past 3 months.
RHIML Share Price and Events
7 Day Returns
-1%
BATS-CHIXE:RHIML
-8.1%
GB Basic Materials
-5.4%
GB Market
1 Year Returns
-60.7%
BATS-CHIXE:RHIML
-36.2%
GB Basic Materials
-25.2%
GB Market
RHIML Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
RHI Magnesita (RHIML) -1% -33.8% -49.7% -60.7% - -
GB Basic Materials -8.1% -34% -42% -36.2% -15.2% 22.3%
GB Market -5.4% -20.6% -29.1% -25.2% -25.9% -25.1%
1 Year Return vs Industry and Market
  • RHIML underperformed the Basic Materials industry which returned -36.2% over the past year.
  • RHIML underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -25.2% over the past year.
Price Volatility
RHIML
Industry
5yr Volatility vs Market
Related Companies

Value

 Is RHI Magnesita 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 RHI Magnesita 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 RHI Magnesita.

BATS-CHIXE:RHIML Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.5%
Perpetual Growth Rate 10-Year GB Government Bond Rate 0.5%

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 BATS-CHIXE:RHIML
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 5.9%
Basic Materials Unlevered Beta Simply Wall St/ S&P Global 0.82
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.824 (1 + (1- 25%) (110.73%))
1.341
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.34
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (1.341 * 5.94%)
8.49%

Discounted Cash Flow Calculation for BATS-CHIXE:RHIML using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for RHI Magnesita 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.

BATS-CHIXE:RHIML DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 8.49%)
2020 291.90 Analyst x2 269.05
2021 246.83 Analyst x3 209.70
2022 224.50 Analyst x1 175.79
2023 211.15 Est @ -5.95% 152.39
2024 202.69 Est @ -4% 134.84
2025 197.33 Est @ -2.64% 120.99
2026 193.99 Est @ -1.69% 109.63
2027 192.01 Est @ -1.03% 100.01
2028 190.93 Est @ -0.56% 91.67
2029 190.49 Est @ -0.23% 84.30
Present value of next 10 years cash flows €1,448.00
BATS-CHIXE:RHIML DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €190.49 × (1 + 0.53%) ÷ (8.49% – 0.53%)
€2,404.49
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €2,404.49 ÷ (1 + 8.49%)10
€1,064.04
BATS-CHIXE:RHIML Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €1,448.00 + €1,064.04
€2,512.04
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €2,512.04 / 49.08
€51.18
BATS-CHIXE:RHIML Discount to Share Price
Calculation Result
Exchange Rate EUR/GBP
(Reporting currency to currency of LSE:RHIM)
0.881
Value per Share
(GBP)
= Value per Share in EUR x Exchange Rate (EUR/GBP)
= €51.18 x 0.881
£45.1
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:RHIML represents 0.97833x of LSE:RHIM
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.97833x
Value per Share
(Listing Adjusted, GBP)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 45.10 x 0.97833
£44.12
Value per share (GBP) From above. £44.12
Current discount Discount to share price of £18.96
= -1 x (£18.96 - £44.12) / £44.12
57%

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

Current Discount
Amount off the current price RHI Magnesita is available for.
Intrinsic value
>50%
Share price is £18.96 vs Future cash flow value of £44.12
Current Discount Checks
For RHI Magnesita to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • RHI Magnesita's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • RHI Magnesita'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 RHI Magnesita's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are RHI Magnesita's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:RHIML PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in EUR €4.29
LSE:RHIM Share Price ** LSE (2020-04-02) in GBP £19.38
LSE:RHIM Share Price converted to EUR reporting currency Exchange rate (GBP/ EUR) 1.135 €21.99
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry PE Ratio Median Figure of 9 Publicly-Listed Basic Materials Companies 9.64x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 748 Publicly-Listed Companies 12.44x

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

** Primary Listing of RHI Magnesita.

BATS-CHIXE:RHIML PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:RHIM Share Price ÷ EPS (both in EUR)

= 21.99 ÷ 4.29

5.12x

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

  • RHI Magnesita is good value based on earnings compared to the GB Basic Materials industry average.
  • RHI Magnesita is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does RHI Magnesita's expected growth come at a high price?
Raw Data
BATS-CHIXE:RHIML PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.12x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
1.8%per year
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry PEG Ratio Median Figure of 6 Publicly-Listed Basic Materials Companies 2.25x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 518 Publicly-Listed Companies 0.97x

*Line of best fit is calculated by linear regression .

BATS-CHIXE:RHIML PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.12x ÷ 1.8%

2.81x

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

  • RHI Magnesita is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on RHI Magnesita's assets?
Raw Data
BATS-CHIXE:RHIML PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in EUR €17.16
LSE:RHIM Share Price * LSE (2020-04-02) in GBP £19.38
LSE:RHIM Share Price converted to EUR reporting currency Exchange rate (GBP/ EUR) 1.135 €21.99
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry PB Ratio Median Figure of 10 Publicly-Listed Basic Materials Companies 1.23x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,323 Publicly-Listed Companies 1.07x
BATS-CHIXE:RHIML PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:RHIM Share Price ÷ Book Value per Share (both in EUR)

= 21.99 ÷ 17.16

1.28x

* Primary Listing of RHI Magnesita.

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

  • RHI Magnesita is overvalued based on assets compared to the GB Basic Materials industry average.
X
Value checks
We assess RHI Magnesita'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. RHI Magnesita has a total score of 4/6, 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 RHI Magnesita expected to perform in the next 1 to 3 years based on estimates from 4 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
1.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is RHI Magnesita expected to grow at an attractive rate?
  • RHI Magnesita's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • RHI Magnesita's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • RHI Magnesita's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
BATS-CHIXE:RHIML Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:RHIML Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 1.8%
BATS-CHIXE:RHIML Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 0%
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry Earnings Growth Rate Market Cap Weighted Average 3.3%
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.3%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 2.4%

*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
BATS-CHIXE:RHIML Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BATS-CHIXE:RHIML Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 3,118 431 236 1
2023-12-31 3,045 408 217 1
2022-12-31 2,854 435 211 4
2021-12-31 2,786 418 178 4
2020-12-31 2,639 313 106 2
2020-04-03
2019-12-31 2,965 355 217 5
BATS-CHIXE:RHIML Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-06-30 3,115 465 203
2019-03-31 3,098 430 180
2018-12-31 3,081 394 158
2018-09-30 2,842 323 91
2018-06-30 2,602 251 27
2018-03-31 2,285 234 -1
2017-12-31 1,950 213 -17
2017-09-30 1,827 185 15
2017-06-30 1,677 126 61
2017-03-31 1,680 150 78
2016-12-31 1,651 163 74
2016-09-30 1,667 188 23

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • RHI Magnesita's earnings are expected to grow by 1.8% yearly, however this is not considered high growth (20% yearly).
  • RHI Magnesita'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
BATS-CHIXE:RHIML Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from RHI Magnesita Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:RHIML Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 4.77 4.77 4.77 1.00
2023-12-31 4.39 4.39 4.39 1.00
2022-12-31 4.17 4.31 4.02 2.00
2021-12-31 3.27 3.80 2.44 3.00
2020-12-31 2.16 2.48 1.83 2.00
2020-04-03
2019-12-31 4.40 4.95 3.90 5.00
BATS-CHIXE:RHIML Past Financials Data
Date (Data in EUR Millions) EPS *
2019-06-30 4.29
2019-03-31 3.91
2018-12-31 3.52
2018-09-30 2.07
2018-06-30 0.62
2018-03-31 -0.02
2017-12-31 -0.43
2017-09-30 0.38
2017-06-30 1.53
2017-03-31 1.95
2016-12-31 1.86
2016-09-30 0.59

*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.
  • Unable to establish if RHI Magnesita will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess RHI Magnesita'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 United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland 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.
RHI Magnesita has a total score of 1/6, see the detailed checks below.

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

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

Past Performance

  How has RHI Magnesita performed over the past 5 years?

  • RHI Magnesita's last earnings update was 235 days ago.
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 RHI Magnesita'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.
  • RHI Magnesita has delivered over 20% year on year earnings growth in the past 5 years.
  • RHI Magnesita's 1-year earnings growth exceeds its 5-year average (653.9% vs 36.7%)
  • RHI Magnesita's earnings growth has exceeded the GB Basic Materials industry average in the past year (653.9% vs 27.3%).
Earnings and Revenue History
RHI Magnesita'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 RHI Magnesita Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:RHIML 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 3,115.30 202.80 350.00
2019-03-31 3,098.35 180.45 348.20
2018-12-31 3,081.40 158.10 346.40
2018-09-30 2,841.60 91.10 335.95
2018-06-30 2,601.80 26.90 325.00
2018-03-31 2,285.10 -0.90 280.30
2017-12-31 1,950.10 -17.40 250.60
2017-09-30 1,826.90 15.15 238.10
2017-06-30 1,676.90 60.70 223.30
2017-03-31 1,680.30 77.70 240.50
2016-12-31 1,651.20 74.00 235.00
2016-09-30 1,667.30 23.40 238.40
2016-06-30 1,680.70 9.90 236.80
2016-03-31 1,718.10 9.50 236.70
2015-12-31 1,752.50 16.00 242.40
2015-09-30 1,779.00 55.50 249.90
2015-06-30 1,784.10 53.00 250.00
2015-03-31 1,743.00 52.20 244.40
2014-12-31 1,721.20 51.00 240.60
2014-09-30 1,711.30 12.10 236.70
2014-06-30 1,723.10 20.90 235.90
2014-03-31 1,731.50 58.70 242.90
2013-12-31 1,754.70 61.90 244.50
2013-09-30 1,761.10 128.20 251.00
2013-06-30 1,793.60 134.00 253.50

*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.
  • Whilst RHI Magnesita has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • RHI Magnesita used its assets less efficiently than the GB Basic Materials industry average last year based on Return on Assets.
  • RHI Magnesita has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess RHI Magnesita'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.
RHI Magnesita has a total score of 4/6, 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 RHI Magnesita'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 RHI Magnesita's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • RHI Magnesita is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • RHI Magnesita's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of RHI Magnesita'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 1.5x 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 RHI Magnesita Company Filings, last reported 9 months ago.

BATS-CHIXE:RHIML Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 869.60 1,137.10 526.60
2019-03-31 869.60 1,137.10 526.60
2018-12-31 885.30 1,173.70 527.50
2018-09-30 885.30 1,173.70 527.50
2018-06-30 846.30 1,151.00 410.30
2018-03-31 846.30 1,151.00 410.30
2017-12-31 845.70 1,225.80 476.40
2017-09-30 845.70 1,225.80 476.40
2017-06-30 502.40 493.80 158.50
2017-03-31 555.00 509.90 189.60
2016-12-31 524.00 484.10 184.40
2016-09-30 483.90 524.40 165.90
2016-06-30 469.80 530.00 160.70
2016-03-31 486.80 546.50 173.10
2015-12-31 491.40 548.90 152.00
2015-09-30 539.30 600.30 156.80
2015-06-30 549.50 579.70 132.80
2015-03-31 547.60 573.30 113.10
2014-12-31 493.90 619.30 152.70
2014-09-30 506.10 541.70 92.50
2014-06-30 485.40 526.10 69.00
2014-03-31 497.50 535.60 129.50
2013-12-31 485.50 535.30 112.60
2013-09-30 525.60 601.10 176.40
2013-06-30 525.60 585.50 123.10
  • RHI Magnesita's level of debt (130.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (108.4% vs 130.8% today).
  • Debt is well covered by operating cash flow (40.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.8x coverage).
X
Financial health checks
We assess RHI Magnesita'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. RHI Magnesita has a total score of 4/6, 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 RHI Magnesita'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
0%
Current annual income from RHI Magnesita dividends. Estimated to be 5.24% next year.
If you bought £2,000 of RHI Magnesita shares you are expected to receive £0 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?
  • Unable to evaluate RHI Magnesita's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate RHI Magnesita's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
BATS-CHIXE:RHIML 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 4 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 5.6%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 608 Stocks 5.7%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.4%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2.7%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 7.6%

Industry and Market average data is calculated daily.

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

BATS-CHIXE:RHIML Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 2.00 1.00
2023-12-31 1.80 1.00
2022-12-31 1.14 3.00
2021-12-31 1.14 4.00
2020-12-31 0.45 2.00
2020-04-03
2019-12-31 1.67 5.00
BATS-CHIXE:RHIML Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2020-04-01 0.000 0.000
2019-08-12 1.000 2.597
2019-06-06 1.500 2.956
2018-03-22 0.750 1.498

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

  • Unable to perform a dividend volatility check as RHI Magnesita has not reported any payouts.
  • Unable to verify if RHI Magnesita's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of RHI Magnesita's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as RHI Magnesita has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4.2x coverage).
X
Income/ dividend checks
We assess RHI Magnesita's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.4%) - 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 RHI Magnesita afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. RHI Magnesita has a total score of 1/6, 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 RHI Magnesita'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
Stefan Borgas
COMPENSATION €2,073,349
AGE 55
TENURE AS CEO 2.5 years
CEO Bio

Mr. Stefan Borgas, MBA has been the Chief Executive Officer of RHI Magnesita N.V. since October 2017 and Executive Director since June 20, 2017. Mr. Borgas served as Chairman of Management Board and Chief Executive Officer at RHI AG from December 01, 2016 to 2017. Mr. Borgas has been the Chairman, Chief Executive Officer and President of ICL Fertilizers Ltd. since September 2012. He serves as Chief Executive Officer and President of ICL at ICL Performance Products LP. Mr. Borgas served as the Chief Executive Officer and President of Israel Chemicals Ltd. from September 20, 2012 to September 11, 2016. He served as the President of the Swiss Management Gesellschaft (SMG) and served as its Chief Executive Officer since 2004. He served as the Chief Executive Officer of Lonza Group Ltd from June 2004 to January 2012. He served as the Chief Executive Officer of Israel Corporation Ltd. Mr. Borgas served as the Chief Operating Officer of Life Science ingredients Division at Lonza Group AG from June 2010 to March 1, 2011. He held various leadership positions in Fine Chemicals and Engineering Plastics in the USA, Germany, Ireland and China. for BASF Group from 1990 to May 2004; Group Vice President of Regional Business Unit Fine Chemicals North America at BASF Corp. from 2003 to May 2004; Group Vice-President of Regional Business Unit Fine Chemicals Europe, Africa, Middle East of BASF AG, Ludwigshafen from 2001 to 2003, Director Strategic Marketing Animal Nutrition, Fine Chemicals Division of BASF AG, Ludwigshafen from 1998 to 2001 and Group Logistics Manager of Engineering Plastics of BASF Corp. from 1995 to 1998. He serves as a Director of ICL Fertilizers Ltd. He served as a Director of Israel Chemicals Ltd., since September 20, 2012 until September 2016. He served as Non-Executive Director at Syngenta AG from April 21, 2009 to June 26, 2017. He is a member of the Board of scienceindustries, the association of Swiss chemical, pharmaceutical and biotech industries and of the Swiss-American Chamber of Commerce. Mr. Borgas is a member of the board of the Israeli-German Chamber of Commerce and serves on the board of directors of IFA, the International Fertilizers Association. He was elected new President of the World Refractories Association in January 2018. Mr. Borgas holds BA Degree in business administration from the University of Saarbruecken and a lic. oec. HSG Degree (MBA) from the University of St. Gallen. He has been Non Executive Director of SCR-Sibelco N.V. since April 17, 2019.

CEO Compensation
  • Stefan's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Stefan's remuneration is higher than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the RHI Magnesita management team in years:

2.2
Average Tenure
51.5
Average Age
  • The tenure for the RHI Magnesita management team is about average.
Management Team

Stefan Borgas

TITLE
CEO & Executive Director
COMPENSATION
€2M
AGE
55
TENURE
2.5 yrs

Ian Botha

TITLE
CFO, Finance Director & Executive Director
AGE
48
TENURE
1 yrs

Gerd Schubert

TITLE
Chief Operations Officer
AGE
59
TENURE
3.3 yrs

Eduardo Guardiano Gotilla

TITLE
Vice President of Corporate Finance & Investor Relations

Luís Rodolfo Bittencourt

TITLE
Chief Technology Officer
TENURE
2.3 yrs

Guy Marks

TITLE
Head of Investor Relations

Ticiana Kobel

TITLE
Executive VP & General Legal Counsel
TENURE
0.3 yrs

Stefan Rathausky

TITLE
Head of Corporate Communications

Luiz Gustavo Rossato

TITLE
Executive Vice President of Corporate Development
AGE
40
TENURE
2.2 yrs

Gustavo Lucio Franco

TITLE
Chief Sales Officer
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the RHI Magnesita board of directors in years:

2.5
Average Tenure
56
Average Age
  • The average tenure for the RHI Magnesita board of directors is less than 3 years, this suggests a new board.
Board of Directors

Herbert Cordt

TITLE
Chairman
COMPENSATION
€220K
AGE
72
TENURE
2.5 yrs

Stefan Borgas

TITLE
CEO & Executive Director
COMPENSATION
€2M
AGE
55
TENURE
2.8 yrs

Jim Leng

TITLE
Deputy Chairman & Senior Independent Director
COMPENSATION
€103K
AGE
74
TENURE
2.5 yrs

Ian Botha

TITLE
CFO, Finance Director & Executive Director
AGE
48
TENURE
0.8 yrs

Celia Baxter

TITLE
Independent Non-Executive Director
COMPENSATION
€83K
AGE
61
TENURE
2.5 yrs

John Ramsay

TITLE
Independent Non-Executive Director
COMPENSATION
€78K
AGE
62
TENURE
2.5 yrs

Stanislaus Prinz zu Sayn Wittgenstein-Berleburg

TITLE
Non-Independent Non-Executive Director
COMPENSATION
€65K
AGE
54
TENURE
2.5 yrs

Franz Reiter

TITLE
Employee Representative Director
AGE
57
TENURE
2.4 yrs

David Schlaff

TITLE
Non-Independent Non-Executive Director
COMPENSATION
€65K
AGE
41
TENURE
2.5 yrs

Drew Hosty

TITLE
Independent Non-Executive Director
COMPENSATION
€78K
AGE
54
TENURE
2.5 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 (£)
30. Oct 19 Buy Stefan Borgas Individual 30. Oct 19 30. Oct 19 2,700 £34.52 £93,204
X
Management checks
We assess RHI Magnesita'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. RHI Magnesita 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

RHI Magnesita N.V. produces and sells refractory products used in high-temperature industrial processes worldwide. The company operates through Steel and Industrial segments. It offers solutions for various furnaces, domes and deltas, ladles, AOD converters, valves and valve seats, caps and plugs, isostatic refractory products, tundish materials, and slide gate refractories and systems. The company also provides magnesia spinel, dolomite-magnesia, magnesia-chrome, alumina, alumina silicate, and mortars for the cement industry; shaped products based on silicon carbide, magnesia, zirconium, and fireclay; unshaped refractories; high-temperature insulation, and ceramic and metallic anchoring systems; and unshaped products and ceramically bonded bricks used in glass melting process. In addition, it offers bricks and mixes, and prefab components, as well as special machinery, repair systems, and technical equipment for refractory products; and products and services for the steel industry processes. Further, the company provides engineering, refractory materials, installation, and services for processes in waste incineration and power generation plants, as well as special processes; and electromechanical maintenance, repairs, assembly, refractory maintenance and application, engineering, projects and lining, and metal working services. Additionally, it offers precast-shapes, alumina-silica, high alumina and monolithic products, high-purity magnesia and magnesia chromite bricks, carbon and alumina-chromia bricks, concrete with anti-wetting systems, sense and insulating concretes, ramming mixes, and low cement castables; repair and maintenance mixes, high silicon carbide content concretes, and other products for pulp and paper industry; and raw magnesite, caustic and sintered magnesia, dolomite, slag conditioners, magnesium oxide, spinels, agalmatolite, chromite, grogs, and commodities. The company was founded in 1834 and is headquartered in Vienna, Austria.

Details
Name: RHI Magnesita N.V.
RHIML
Exchange: BATS-CHIXE
Founded: 1834
£951,125,922
49,077,705
Website: http://www.rhimagnesita.com
Address: RHI Magnesita N.V.
Kranichberggasse 6,
Vienna,
Vienna, 1120,
Austria
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE RHIM New Ordinary Shares London Stock Exchange GB GBP 27. Oct 2017
OTCPK RMGN.F New Ordinary Shares Pink Sheets LLC US USD 27. Oct 2017
DB RHF New Ordinary Shares Deutsche Boerse AG DE EUR 27. Oct 2017
WBAG RHIM New Ordinary Shares Wiener Boerse AG AT EUR 27. Oct 2017
BATS-CHIXE RHIML New Ordinary Shares BATS 'Chi-X Europe' GB GBP 27. Oct 2017
OTCPK RHHM.Y UNSPONSORD ADR Pink Sheets LLC US USD 20. Mar 2018
Number of employees
Current staff
Staff numbers
14,000
RHI Magnesita employees.
Industry
Construction Materials
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 19:51
End of day share price update: 2020/04/02 00:00
Last estimates confirmation: 2020/04/01
Last earnings filing: 2019/08/12
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.