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ALTRI SGPS SA (ALTR.LS) Stock Fundamental Analysis

ELI:ALTR - Euronext Lisbon - PTALT0AE0002 - Common Stock - Currency: EUR

5.815  +0.13 (+2.2%)

Fundamental Rating

5

ALTR gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 9 industry peers in the Paper & Forest Products industry. Both the profitability and the financial health of ALTR get a neutral evaluation. Nothing too spectacular is happening here. ALTR has a correct valuation and a medium growth rate. Finally ALTR also has an excellent dividend rating. This makes ALTR very considerable for dividend investing!


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

In the past year ALTR was profitable.
In the past year ALTR had a positive cash flow from operations.
In the past 5 years ALTR has always been profitable.
ALTR had a positive operating cash flow in 4 of the past 5 years.
ALTR.LS Yearly Net Income VS EBIT VS OCF VS FCFALTR.LS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100M -100M 200M 300M 400M

1.2 Ratios

ALTR has a better Return On Assets (6.10%) than 85.71% of its industry peers.
ALTR has a better Return On Equity (18.72%) than 85.71% of its industry peers.
The Return On Invested Capital of ALTR (8.86%) is better than 71.43% of its industry peers.
ALTR had an Average Return On Invested Capital over the past 3 years of 9.33%. This is above the industry average of 7.32%.
Industry RankSector Rank
ROA 6.1%
ROE 18.72%
ROIC 8.86%
ROA(3y)12.46%
ROA(5y)9.31%
ROE(3y)34.82%
ROE(5y)26.79%
ROIC(3y)9.33%
ROIC(5y)8.25%
ALTR.LS Yearly ROA, ROE, ROICALTR.LS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 20 40 60

1.3 Margins

With an excellent Profit Margin value of 9.32%, ALTR belongs to the best of the industry, outperforming 85.71% of the companies in the same industry.
In the last couple of years the Profit Margin of ALTR has declined.
ALTR has a Operating Margin of 13.54%. This is in the better half of the industry: ALTR outperforms 71.43% of its industry peers.
ALTR's Operating Margin has declined in the last couple of years.
With a Gross Margin value of 28.86%, ALTR is not doing good in the industry: 71.43% of the companies in the same industry are doing better.
In the last couple of years the Gross Margin of ALTR has declined.
Industry RankSector Rank
OM 13.54%
PM (TTM) 9.32%
GM 28.86%
OM growth 3Y15.23%
OM growth 5Y-22.19%
PM growth 3Y-3.73%
PM growth 5Y-26.2%
GM growth 3Y0.38%
GM growth 5Y-11.21%
ALTR.LS Yearly Profit, Operating, Gross MarginsALTR.LS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 10 20 30 40

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5

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), ALTR is creating some value.
The number of shares outstanding for ALTR remains at a similar level compared to 1 year ago.
Compared to 5 years ago, ALTR has about the same amount of shares outstanding.
Compared to 1 year ago, ALTR has a worse debt to assets ratio.
ALTR.LS Yearly Shares OutstandingALTR.LS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M
ALTR.LS Yearly Total Debt VS Total AssetsALTR.LS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B 2B

2.2 Solvency

An Altman-Z score of 2.42 indicates that ALTR is not a great score, but indicates only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 2.42, ALTR belongs to the top of the industry, outperforming 85.71% of the companies in the same industry.
ALTR has a debt to FCF ratio of 3.77. This is a good value and a sign of high solvency as ALTR would need 3.77 years to pay back of all of its debts.
The Debt to FCF ratio of ALTR (3.77) is better than 71.43% of its industry peers.
A Debt/Equity ratio of 1.31 is on the high side and indicates that ALTR has dependencies on debt financing.
ALTR's Debt to Equity ratio of 1.31 is on the low side compared to the rest of the industry. ALTR is outperformed by 85.71% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.31
Debt/FCF 3.77
Altman-Z 2.42
ROIC/WACC1.44
WACC6.14%
ALTR.LS Yearly LT Debt VS Equity VS FCFALTR.LS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M 400M 600M

2.3 Liquidity

A Current Ratio of 1.97 indicates that ALTR should not have too much problems paying its short term obligations.
ALTR's Current ratio of 1.97 is fine compared to the rest of the industry. ALTR outperforms 71.43% of its industry peers.
A Quick Ratio of 1.57 indicates that ALTR should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.57, ALTR belongs to the top of the industry, outperforming 85.71% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.97
Quick Ratio 1.57
ALTR.LS Yearly Current Assets VS Current LiabilitesALTR.LS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M 500M

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4

3. Growth

3.1 Past

ALTR shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -73.12%.
The earnings per share for ALTR have been decreasing by -26.13% on average. This is quite bad
ALTR shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -26.05%.
ALTR shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 0.10% yearly.
EPS 1Y (TTM)-73.12%
EPS 3Y7.06%
EPS 5Y-26.13%
EPS Q2Q%N/A
Revenue 1Y (TTM)-26.05%
Revenue growth 3Y11.09%
Revenue growth 5Y0.1%
Sales Q2Q%18.69%

3.2 Future

ALTR is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 29.44% yearly.
ALTR is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.48% yearly.
EPS Next Y206.85%
EPS Next 2Y56.13%
EPS Next 3Y38.64%
EPS Next 5Y29.44%
Revenue Next Year14.24%
Revenue Next 2Y5.37%
Revenue Next 3Y2.71%
Revenue Next 5Y3.48%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
ALTR.LS Yearly Revenue VS EstimatesALTR.LS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M 800M 1B
ALTR.LS Yearly EPS VS EstimatesALTR.LS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.2 0.4 0.6 0.8

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5

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 29.07, ALTR can be considered very expensive at the moment.
Compared to the rest of the industry, the Price/Earnings ratio of ALTR is on the same level as its industry peers.
The average S&P500 Price/Earnings ratio is at 28.19. ALTR is around the same levels.
With a Price/Forward Earnings ratio of 11.93, the valuation of ALTR can be described as very reasonable.
The rest of the industry has a similar Price/Forward Earnings ratio as ALTR.
The average S&P500 Price/Forward Earnings ratio is at 24.37. ALTR is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 29.08
Fwd PE 11.93
ALTR.LS Price Earnings VS Forward Price EarningsALTR.LS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

ALTR's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 7.43
EV/EBITDA N/A
ALTR.LS Per share dataALTR.LS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 1 2 3 4

4.3 Compensation for Growth

ALTR's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of ALTR may justify a higher PE ratio.
ALTR's earnings are expected to grow with 38.64% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.14
PEG (5Y)N/A
EPS Next 2Y56.13%
EPS Next 3Y38.64%

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7

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 4.76%, ALTR is a good candidate for dividend investing.
ALTR's Dividend Yield is rather good when compared to the industry average which is at 3.43. ALTR pays more dividend than 100.00% of the companies in the same industry.
ALTR's Dividend Yield is rather good when compared to the S&P500 average which is at 2.28.
Industry RankSector Rank
Dividend Yield 4.76%

5.2 History

The dividend of ALTR has a limited annual growth rate of 0.61%.
Dividend Growth(5Y)0.61%
Div Incr Years1
Div Non Decr Years2
ALTR.LS Yearly Dividends per shareALTR.LS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 0.2 0.4 0.6

5.3 Sustainability

66.76% of the earnings are spent on dividend by ALTR. This is not a sustainable payout ratio.
ALTR's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP66.76%
EPS Next 2Y56.13%
EPS Next 3Y38.64%
ALTR.LS Yearly Income VS Free CF VS DividendALTR.LS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100M -100M 200M 300M 400M
ALTR.LS Dividend Payout.ALTR.LS Dividend Payout, showing the Payout Ratio.ALTR.LS Dividend Payout.PayoutRetained Earnings

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ALTRI SGPS SA

ELI:ALTR (1/23/2025, 5:29:40 PM)

5.815

+0.13 (+2.2%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryPaper & Forest Products
Earnings (Last)11-21 2024-11-21
Earnings (Next)N/A N/A
Inst Owners10.77%
Inst Owner ChangeN/A
Ins Owners67.71%
Ins Owner ChangeN/A
Market Cap1.19B
Analysts80
Price Target6.31 (8.51%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.76%
Yearly Dividend0.31
Dividend Growth(5Y)0.61%
DP66.76%
Div Incr Years1
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-19.23%
Min EPS beat(2)-29.97%
Max EPS beat(2)-8.5%
EPS beat(4)1
Avg EPS beat(4)26.17%
Min EPS beat(4)-100%
Max EPS beat(4)243.14%
EPS beat(8)3
Avg EPS beat(8)41.86%
EPS beat(12)4
Avg EPS beat(12)24.98%
EPS beat(16)6
Avg EPS beat(16)51.17%
Revenue beat(2)1
Avg Revenue beat(2)-0.86%
Min Revenue beat(2)-2.8%
Max Revenue beat(2)1.08%
Revenue beat(4)1
Avg Revenue beat(4)-0.63%
Min Revenue beat(4)-2.8%
Max Revenue beat(4)1.08%
Revenue beat(8)3
Avg Revenue beat(8)-1.54%
Revenue beat(12)4
Avg Revenue beat(12)-4.39%
Revenue beat(16)5
Avg Revenue beat(16)-5.61%
PT rev (1m)0%
PT rev (3m)0.6%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)7.76%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-4.32%
Revenue NY rev (1m)-1.84%
Revenue NY rev (3m)-2.96%
Valuation
Industry RankSector Rank
PE 29.08
Fwd PE 11.93
P/S 1.45
P/FCF 7.43
P/OCF 5.91
P/B 2.91
P/tB 8.29
EV/EBITDA N/A
EPS(TTM)0.2
EY3.44%
EPS(NY)0.49
Fwd EY8.38%
FCF(TTM)0.78
FCFY13.46%
OCF(TTM)0.98
OCFY16.92%
SpS4.02
BVpS2
TBVpS0.7
PEG (NY)0.14
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 6.1%
ROE 18.72%
ROCE 10.87%
ROIC 8.86%
ROICexc 10.99%
ROICexgc 16.19%
OM 13.54%
PM (TTM) 9.32%
GM 28.86%
FCFM 19.48%
ROA(3y)12.46%
ROA(5y)9.31%
ROE(3y)34.82%
ROE(5y)26.79%
ROIC(3y)9.33%
ROIC(5y)8.25%
ROICexc(3y)11.5%
ROICexc(5y)10.07%
ROICexgc(3y)15.68%
ROICexgc(5y)14.05%
ROCE(3y)11.56%
ROCE(5y)10.19%
ROICexcg growth 3Y33.24%
ROICexcg growth 5Y-20.29%
ROICexc growth 3Y34.12%
ROICexc growth 5Y-19.89%
OM growth 3Y15.23%
OM growth 5Y-22.19%
PM growth 3Y-3.73%
PM growth 5Y-26.2%
GM growth 3Y0.38%
GM growth 5Y-11.21%
F-Score4
Asset Turnover0.65
Health
Industry RankSector Rank
Debt/Equity 1.31
Debt/FCF 3.77
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 5%
Interest Coverage 250
Cash Conversion N/A
Profit Quality 209.07%
Current Ratio 1.97
Quick Ratio 1.57
Altman-Z 2.42
F-Score4
WACC6.14%
ROIC/WACC1.44
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)6.74%
Cap/Sales(5y)7.23%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-73.12%
EPS 3Y7.06%
EPS 5Y-26.13%
EPS Q2Q%N/A
EPS Next Y206.85%
EPS Next 2Y56.13%
EPS Next 3Y38.64%
EPS Next 5Y29.44%
Revenue 1Y (TTM)-26.05%
Revenue growth 3Y11.09%
Revenue growth 5Y0.1%
Sales Q2Q%18.69%
Revenue Next Year14.24%
Revenue Next 2Y5.37%
Revenue Next 3Y2.71%
Revenue Next 5Y3.48%
EBIT growth 1Y-71.07%
EBIT growth 3Y28.01%
EBIT growth 5Y-22.12%
EBIT Next Year313.33%
EBIT Next 3Y52.87%
EBIT Next 5Y40.17%
FCF growth 1Y-28.71%
FCF growth 3Y-29.75%
FCF growth 5Y-23.78%
OCF growth 1Y-26.66%
OCF growth 3Y-13.78%
OCF growth 5Y-14.91%