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IMCD NV (IMCD.AS) Stock Fundamental Analysis

AMS:IMCD - Euronext Amsterdam - NL0010801007 - Common Stock - Currency: EUR

118.85  +2 (+1.71%)

Fundamental Rating

6

Overall IMCD gets a fundamental rating of 6 out of 10. We evaluated IMCD against 16 industry peers in the Trading Companies & Distributors industry. IMCD has an excellent profitability rating, but there are some minor concerns on its financial health. IMCD has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

In the past year IMCD was profitable.
In the past year IMCD had a positive cash flow from operations.
In the past 5 years IMCD has always been profitable.
In the past 5 years IMCD always reported a positive cash flow from operatings.
IMCD.AS Yearly Net Income VS EBIT VS OCF VS FCFIMCD.AS 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 2024 100M 200M 300M 400M

1.2 Ratios

IMCD has a better Return On Assets (5.70%) than 81.25% of its industry peers.
The Return On Equity of IMCD (12.57%) is better than 81.25% of its industry peers.
The Return On Invested Capital of IMCD (8.08%) is better than 75.00% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for IMCD is in line with the industry average of 8.89%.
Industry RankSector Rank
ROA 5.7%
ROE 12.57%
ROIC 8.08%
ROA(3y)7.11%
ROA(5y)6.42%
ROE(3y)16.08%
ROE(5y)14.41%
ROIC(3y)9.57%
ROIC(5y)8.66%
IMCD.AS Yearly ROA, ROE, ROICIMCD.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

The Profit Margin of IMCD (5.89%) is better than 93.75% of its industry peers.
In the last couple of years the Profit Margin of IMCD has grown nicely.
The Operating Margin of IMCD (8.99%) is better than 87.50% of its industry peers.
In the last couple of years the Operating Margin of IMCD has grown nicely.
IMCD has a better Gross Margin (22.49%) than 68.75% of its industry peers.
IMCD's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 8.99%
PM (TTM) 5.89%
GM 22.49%
OM growth 3Y0.9%
OM growth 5Y6.54%
PM growth 3Y-0.83%
PM growth 5Y7.95%
GM growth 3Y1.7%
GM growth 5Y2.81%
IMCD.AS Yearly Profit, Operating, Gross MarginsIMCD.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

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5

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so IMCD is still creating some value.
Compared to 1 year ago, IMCD has more shares outstanding
Compared to 5 years ago, IMCD has more shares outstanding
Compared to 1 year ago, IMCD has an improved debt to assets ratio.
IMCD.AS Yearly Shares OutstandingIMCD.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M
IMCD.AS Yearly Total Debt VS Total AssetsIMCD.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

2.2 Solvency

An Altman-Z score of 3.33 indicates that IMCD is not in any danger for bankruptcy at the moment.
IMCD has a Altman-Z score of 3.33. This is in the better half of the industry: IMCD outperforms 68.75% of its industry peers.
The Debt to FCF ratio of IMCD is 7.15, which is on the high side as it means it would take IMCD, 7.15 years of fcf income to pay off all of its debts.
IMCD has a better Debt to FCF ratio (7.15) than 75.00% of its industry peers.
IMCD has a Debt/Equity ratio of 0.63. This is a neutral value indicating IMCD is somewhat dependend on debt financing.
IMCD's Debt to Equity ratio of 0.63 is in line compared to the rest of the industry. IMCD outperforms 43.75% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.63
Debt/FCF 7.15
Altman-Z 3.33
ROIC/WACC1.22
WACC6.64%
IMCD.AS Yearly LT Debt VS Equity VS FCFIMCD.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

2.3 Liquidity

IMCD has a Current Ratio of 1.98. This is a normal value and indicates that IMCD is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 1.98, IMCD is in line with its industry, outperforming 56.25% of the companies in the same industry.
A Quick Ratio of 1.29 indicates that IMCD should not have too much problems paying its short term obligations.
The Quick ratio of IMCD (1.29) is better than 62.50% of its industry peers.
Industry RankSector Rank
Current Ratio 1.98
Quick Ratio 1.29
IMCD.AS Yearly Current Assets VS Current LiabilitesIMCD.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

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6

3. Growth

3.1 Past

IMCD shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 10.57%, which is quite good.
The Earnings Per Share has been growing by 21.23% on average over the past years. This is a very strong growth
The Revenue has been growing slightly by 6.41% in the past year.
The Revenue has been growing by 14.91% on average over the past years. This is quite good.
EPS 1Y (TTM)10.57%
EPS 3Y24.2%
EPS 5Y21.23%
EPS Q2Q%-3.47%
Revenue 1Y (TTM)6.41%
Revenue growth 3Y13.03%
Revenue growth 5Y14.91%
Sales Q2Q%7.52%

3.2 Future

Based on estimates for the next years, IMCD will show a quite strong growth in Earnings Per Share. The EPS will grow by 14.61% on average per year.
Based on estimates for the next years, IMCD will show a quite strong growth in Revenue. The Revenue will grow by 9.70% on average per year.
EPS Next Y85.49%
EPS Next 2Y28.3%
EPS Next 3Y18.56%
EPS Next 5Y14.61%
Revenue Next Year35.8%
Revenue Next 2Y15.63%
Revenue Next 3Y12.07%
Revenue Next 5Y9.7%

3.3 Evolution

Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
IMCD.AS Yearly Revenue VS EstimatesIMCD.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2B 4B 6B
IMCD.AS Yearly EPS VS EstimatesIMCD.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2 4 6 8

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4

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 32.47, IMCD can be considered very expensive at the moment.
Compared to the rest of the industry, the Price/Earnings ratio of IMCD is on the same level as its industry peers.
When comparing the Price/Earnings ratio of IMCD to the average of the S&P500 Index (27.75), we can say IMCD is valued inline with the index average.
The Price/Forward Earnings ratio is 19.73, which indicates a rather expensive current valuation of IMCD.
The rest of the industry has a similar Price/Forward Earnings ratio as IMCD.
IMCD's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 20.49.
Industry RankSector Rank
PE 32.47
Fwd PE 19.73
IMCD.AS Price Earnings VS Forward Price EarningsIMCD.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

The rest of the industry has a similar Enterprise Value to EBITDA ratio as IMCD.
The rest of the industry has a similar Price/Free Cash Flow ratio as IMCD.
Industry RankSector Rank
P/FCF 27.79
EV/EBITDA 14.58
IMCD.AS Per share dataIMCD.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60

4.3 Compensation for Growth

IMCD's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The excellent profitability rating of IMCD may justify a higher PE ratio.
IMCD's earnings are expected to grow with 18.56% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.38
PEG (5Y)1.53
EPS Next 2Y28.3%
EPS Next 3Y18.56%

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3

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 1.93%, IMCD has a reasonable but not impressive dividend return.
The stock price of IMCD dropped by -22.82% in the last 3 months. With lower prices the dividend yield is higher, but it may be a sign investors do not trust the long term dividend.
Compared to an average industry Dividend Yield of 2.87, IMCD has a dividend in line with its industry peers.
IMCD's Dividend Yield is slightly below the S&P500 average, which is at 2.44.
Industry RankSector Rank
Dividend Yield 1.93%

5.2 History

On average, the dividend of IMCD grows each year by 22.38%, which is quite nice.
Dividend Growth(5Y)22.38%
Div Incr Years1
Div Non Decr Years1
IMCD.AS Yearly Dividends per shareIMCD.AS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2

5.3 Sustainability

IMCD pays out 45.88% of its income as dividend. This is a bit on the high side, but may be sustainable.
The dividend of IMCD is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP45.88%
EPS Next 2Y28.3%
EPS Next 3Y18.56%
IMCD.AS Yearly Income VS Free CF VS DividendIMCD.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M
IMCD.AS Dividend Payout.IMCD.AS Dividend Payout, showing the Payout Ratio.IMCD.AS Dividend Payout.PayoutRetained Earnings

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IMCD NV

AMS:IMCD (5/2/2025, 5:35:30 PM)

118.85

+2 (+1.71%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryTrading Companies & Distributors
Earnings (Last)04-25 2025-04-25
Earnings (Next)07-30 2025-07-30
Inst Owners75.23%
Inst Owner ChangeN/A
Ins Owners1.7%
Ins Owner ChangeN/A
Market Cap7.03B
Analysts79.13
Price Target167.01 (40.52%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.93%
Yearly Dividend2.2
Dividend Growth(5Y)22.38%
DP45.88%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-4.48%
Min EPS beat(2)-15.97%
Max EPS beat(2)7.01%
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
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)0
Avg Revenue beat(2)-1.83%
Min Revenue beat(2)-2.59%
Max Revenue beat(2)-1.07%
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
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)-0.45%
PT rev (3m)-0.2%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-1.38%
EPS NY rev (3m)-4.75%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.67%
Revenue NY rev (3m)-0.4%
Valuation
Industry RankSector Rank
PE 32.47
Fwd PE 19.73
P/S 1.49
P/FCF 27.79
P/OCF 25.16
P/B 3.17
P/tB N/A
EV/EBITDA 14.58
EPS(TTM)3.66
EY3.08%
EPS(NY)6.02
Fwd EY5.07%
FCF(TTM)4.28
FCFY3.6%
OCF(TTM)4.72
OCFY3.97%
SpS79.98
BVpS37.45
TBVpS-6.68
PEG (NY)0.38
PEG (5Y)1.53
Profitability
Industry RankSector Rank
ROA 5.7%
ROE 12.57%
ROCE 11.09%
ROIC 8.08%
ROICexc 9.36%
ROICexgc 44.32%
OM 8.99%
PM (TTM) 5.89%
GM 22.49%
FCFM 5.35%
ROA(3y)7.11%
ROA(5y)6.42%
ROE(3y)16.08%
ROE(5y)14.41%
ROIC(3y)9.57%
ROIC(5y)8.66%
ROICexc(3y)10.67%
ROICexc(5y)9.54%
ROICexgc(3y)40.09%
ROICexgc(5y)35.52%
ROCE(3y)14.12%
ROCE(5y)13.14%
ROICexcg growth 3Y11.47%
ROICexcg growth 5Y12.83%
ROICexc growth 3Y2.19%
ROICexc growth 5Y4.08%
OM growth 3Y0.9%
OM growth 5Y6.54%
PM growth 3Y-0.83%
PM growth 5Y7.95%
GM growth 3Y1.7%
GM growth 5Y2.81%
F-Score5
Asset Turnover0.97
Health
Industry RankSector Rank
Debt/Equity 0.63
Debt/FCF 7.15
Debt/EBITDA 2.49
Cap/Depr 19.36%
Cap/Sales 0.56%
Interest Coverage 6.94
Cash Conversion 49.71%
Profit Quality 90.84%
Current Ratio 1.98
Quick Ratio 1.29
Altman-Z 3.33
F-Score5
WACC6.64%
ROIC/WACC1.22
Cap/Depr(3y)23.75%
Cap/Depr(5y)23.21%
Cap/Sales(3y)0.62%
Cap/Sales(5y)0.61%
Profit Quality(3y)103.46%
Profit Quality(5y)114.83%
High Growth Momentum
Growth
EPS 1Y (TTM)10.57%
EPS 3Y24.2%
EPS 5Y21.23%
EPS Q2Q%-3.47%
EPS Next Y85.49%
EPS Next 2Y28.3%
EPS Next 3Y18.56%
EPS Next 5Y14.61%
Revenue 1Y (TTM)6.41%
Revenue growth 3Y13.03%
Revenue growth 5Y14.91%
Sales Q2Q%7.52%
Revenue Next Year35.8%
Revenue Next 2Y15.63%
Revenue Next 3Y12.07%
Revenue Next 5Y9.7%
EBIT growth 1Y-0.8%
EBIT growth 3Y12.24%
EBIT growth 5Y19.26%
EBIT Next Year30.54%
EBIT Next 3Y14.52%
EBIT Next 5Y13.77%
FCF growth 1Y-33.93%
FCF growth 3Y12.49%
FCF growth 5Y10.07%
OCF growth 1Y-33.52%
OCF growth 3Y12.47%
OCF growth 5Y9.9%