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INDUSTRIAS BACHOCO SAB SP AD (IBA) Stock Fundamental Analysis

NYSE:IBA - New York Stock Exchange, Inc. - US4564631087 - ADR - Currency: USD

53  -0.98 (-1.82%)

After market: 57.96 +4.96 (+9.36%)

Fundamental Rating

7

IBA gets a fundamental rating of 7 out of 10. The analysis compared the fundamentals against 89 industry peers in the Food Products industry. IBA has an excellent financial health rating, but there are some minor concerns on its profitability. An interesting combination arises when we look at growth and value: IBA is growing strongly while it also seems undervalued.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

IBA had positive earnings in the past year.
IBA had a positive operating cash flow in the past year.
IBA Yearly Net Income VS EBIT VS OCF VS FCFIBA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2B 4B 6B

1.2 Ratios

The Return On Assets of IBA (7.74%) is better than 82.80% of its industry peers.
IBA has a better Return On Equity (10.30%) than 68.82% of its industry peers.
IBA has a better Return On Invested Capital (8.78%) than 83.87% of its industry peers.
IBA had an Average Return On Invested Capital over the past 3 years of 12.29%. This is above the industry average of 8.83%.
Industry RankSector Rank
ROA 7.74%
ROE 10.3%
ROIC 8.78%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)12.29%
ROIC(5y)N/A
IBA Yearly ROA, ROE, ROICIBA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2 4 6 8 10

1.3 Margins

IBA has a Profit Margin of 5.91%. This is in the better half of the industry: IBA outperforms 70.97% of its industry peers.
IBA's Profit Margin has declined in the last couple of years.
IBA has a Operating Margin of 7.47%. This is in the better half of the industry: IBA outperforms 70.97% of its industry peers.
IBA's Operating Margin has declined in the last couple of years.
IBA's Gross Margin of 16.44% is in line compared to the rest of the industry. IBA outperforms 48.39% of its industry peers.
In the last couple of years the Gross Margin of IBA has declined.
Industry RankSector Rank
OM 7.47%
PM (TTM) 5.91%
GM 16.44%
OM growth 3Y7.93%
OM growth 5Y-3.8%
PM growth 3Y4.16%
PM growth 5Y-3.96%
GM growth 3Y1.17%
GM growth 5Y-1.97%
IBA Yearly Profit, Operating, Gross MarginsIBA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 5 10 15 20

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9

2. Health

2.1 Basic Checks

IBA has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, IBA has about the same amount of shares outstanding.
Compared to 1 year ago, IBA has an improved debt to assets ratio.
IBA Yearly Shares OutstandingIBA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 10M 20M 30M 40M
IBA Yearly Total Debt VS Total AssetsIBA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 20B 40B 60B

2.2 Solvency

IBA has an Altman-Z score of 4.84. This indicates that IBA is financially healthy and has little risk of bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 4.84, IBA belongs to the top of the industry, outperforming 84.95% of the companies in the same industry.
IBA has a debt to FCF ratio of 0.97. This is a very positive value and a sign of high solvency as it would only need 0.97 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 0.97, IBA belongs to the top of the industry, outperforming 93.55% of the companies in the same industry.
A Debt/Equity ratio of 0.01 indicates that IBA is not too dependend on debt financing.
IBA's Debt to Equity ratio of 0.01 is amongst the best of the industry. IBA outperforms 84.95% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.97
Altman-Z 4.84
ROIC/WACC0.65
WACC13.53%
IBA Yearly LT Debt VS Equity VS FCFIBA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 10B 20B 30B 40B

2.3 Liquidity

A Current Ratio of 3.36 indicates that IBA has no problem at all paying its short term obligations.
IBA has a Current ratio of 3.36. This is amongst the best in the industry. IBA outperforms 80.65% of its industry peers.
A Quick Ratio of 2.44 indicates that IBA has no problem at all paying its short term obligations.
With an excellent Quick ratio value of 2.44, IBA belongs to the best of the industry, outperforming 86.02% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 3.36
Quick Ratio 2.44
IBA Yearly Current Assets VS Current LiabilitesIBA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 10B 20B 30B

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7

3. Growth

3.1 Past

IBA shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 714.76%, which is quite impressive.
The Earnings Per Share has been growing slightly by 5.07% on average over the past years.
The Revenue has grown by 19.74% in the past year. This is quite good.
The Revenue has been growing by 9.45% on average over the past years. This is quite good.
EPS 1Y (TTM)714.76%
EPS 3Y13.96%
EPS 5Y5.07%
EPS Q2Q%1164.61%
Revenue 1Y (TTM)19.74%
Revenue growth 3Y10.2%
Revenue growth 5Y9.45%
Sales Q2Q%25.88%

3.2 Future

IBA is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 8.09% yearly.
IBA is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 8.58% yearly.
EPS Next Y35.55%
EPS Next 2Y9.63%
EPS Next 3Y9.56%
EPS Next 5Y8.09%
Revenue Next Year24.45%
Revenue Next 2Y12.86%
Revenue Next 3Y9.99%
Revenue Next 5Y8.58%

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.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
IBA Yearly Revenue VS EstimatesIBA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B 80B 100B
IBA Yearly EPS VS EstimatesIBA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80 100

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8

4. Valuation

4.1 Price/Earnings Ratio

IBA is valuated cheaply with a Price/Earnings ratio of 1.62.
Based on the Price/Earnings ratio, IBA is valued cheaper than 100.00% of the companies in the same industry.
IBA's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 24.21.
IBA is valuated cheaply with a Price/Forward Earnings ratio of 7.84.
Compared to the rest of the industry, the Price/Forward Earnings ratio of IBA indicates a rather cheap valuation: IBA is cheaper than 96.77% of the companies listed in the same industry.
IBA is valuated cheaply when we compare the Price/Forward Earnings ratio to 20.44, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 1.62
Fwd PE 7.84
IBA Price Earnings VS Forward Price EarningsIBA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, IBA is valued cheaply inside the industry as 91.40% of the companies are valued more expensively.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of IBA indicates a rather cheap valuation: IBA is cheaper than 89.25% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 17.17
EV/EBITDA 3.64
IBA Per share dataIBA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.05
PEG (5Y)0.32
EPS Next 2Y9.63%
EPS Next 3Y9.56%

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5

5. Dividend

5.1 Amount

IBA has a Yearly Dividend Yield of 1.93%.
Compared to an average industry Dividend Yield of 4.63, IBA pays a bit more dividend than its industry peers.
IBA's Dividend Yield is comparable with the S&P500 average which is at 2.41.
Industry RankSector Rank
Dividend Yield 1.93%

5.2 History

The dividend of IBA has a limited annual growth rate of 5.42%.
IBA has been paying a dividend for at least 10 years, so it has a reliable track record.
The dividend of IBA decreased in the last 3 years.
Dividend Growth(5Y)5.42%
Div Incr Years2
Div Non Decr Years2
IBA Yearly Dividends per shareIBA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 0.5 1 1.5

5.3 Sustainability

IBA's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DPN/A
EPS Next 2Y9.63%
EPS Next 3Y9.56%
IBA Yearly Income VS Free CF VS DividendIBA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 1B 2B 3B 4B 5B

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INDUSTRIAS BACHOCO SAB SP AD

NYSE:IBA (4/21/2023, 8:04:00 PM)

After market: 57.96 +4.96 (+9.36%)

53

-0.98 (-1.82%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryFood Products
Earnings (Last)04-27 2023-04-27/amc
Earnings (Next)07-25 2023-07-25/amc
Inst Owners0%
Inst Owner Change0%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap2.65B
Analysts81.82
Price Target55.47 (4.66%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.93%
Yearly Dividend1.64
Dividend Growth(5Y)5.42%
DPN/A
Div Incr Years2
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)7.54%
Min EPS beat(2)7.54%
Max EPS beat(2)7.54%
EPS beat(4)2
Avg EPS beat(4)7.88%
Min EPS beat(4)-2.91%
Max EPS beat(4)19.02%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)4.66%
Min Revenue beat(2)4.66%
Max Revenue beat(2)4.66%
Revenue beat(4)2
Avg Revenue beat(4)2.3%
Min Revenue beat(4)-0.19%
Max Revenue beat(4)4.66%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-13.97%
PT rev (3m)-9.74%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0.1%
EPS NY rev (1m)0%
EPS NY rev (3m)-2.74%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.44%
Valuation
Industry RankSector Rank
PE 1.62
Fwd PE 7.84
P/S 0.55
P/FCF 17.17
P/OCF 7.21
P/B 0.96
P/tB 1.03
EV/EBITDA 3.64
EPS(TTM)32.75
EY61.79%
EPS(NY)6.76
Fwd EY12.75%
FCF(TTM)3.09
FCFY5.83%
OCF(TTM)7.35
OCFY13.86%
SpS96.19
BVpS55.18
TBVpS51.33
PEG (NY)0.05
PEG (5Y)0.32
Profitability
Industry RankSector Rank
ROA 7.74%
ROE 10.3%
ROCE N/A
ROIC 8.78%
ROICexc 13.8%
ROICexgc 15.31%
OM 7.47%
PM (TTM) 5.91%
GM 16.44%
FCFM N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)12.29%
ROIC(5y)N/A
ROICexc(3y)11.31%
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3Y8.36%
ROICexcg growth 5Y-2.29%
ROICexc growth 3Y9.51%
ROICexc growth 5Y-3.31%
OM growth 3Y7.93%
OM growth 5Y-3.8%
PM growth 3Y4.16%
PM growth 5Y-3.96%
GM growth 3Y1.17%
GM growth 5Y-1.97%
F-Score7
Asset Turnover1.31
Health
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.97
Debt/EBITDA 0.32
Cap/Depr 204.45%
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 54.34%
Current Ratio 3.36
Quick Ratio 2.44
Altman-Z 4.84
F-Score7
WACC13.53%
ROIC/WACC0.65
Cap/Depr(3y)148.6%
Cap/Depr(5y)160.93%
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)59.84%
Profit Quality(5y)58.58%
High Growth Momentum
Growth
EPS 1Y (TTM)714.76%
EPS 3Y13.96%
EPS 5Y5.07%
EPS Q2Q%1164.61%
EPS Next Y35.55%
EPS Next 2Y9.63%
EPS Next 3Y9.56%
EPS Next 5Y8.09%
Revenue 1Y (TTM)19.74%
Revenue growth 3Y10.2%
Revenue growth 5Y9.45%
Sales Q2Q%25.88%
Revenue Next Year24.45%
Revenue Next 2Y12.86%
Revenue Next 3Y9.99%
Revenue Next 5Y8.58%
EBIT growth 1Y3.49%
EBIT growth 3Y18.93%
EBIT growth 5Y5.29%
EBIT Next Year72.63%
EBIT Next 3Y17.79%
EBIT Next 5Y14.91%
FCF growth 1Y-36.2%
FCF growth 3Y24.28%
FCF growth 5Y87.05%
OCF growth 1Y2.74%
OCF growth 3Y22.3%
OCF growth 5Y17.04%