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SEMAPA-SOCIEDADE DE INVESTIM (SEM.LS) Stock Fundamental Analysis

ELI:SEM - Euronext Lisbon - PTSEM0AM0004 - Common Stock - Currency: EUR

15.52  -0.16 (-1.02%)

Fundamental Rating

6

SEM gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 10 industry peers in the Paper & Forest Products industry. While SEM has a great profitability rating, there are some minor concerns on its financial health. SEM has a bad growth rate and is valued cheaply. Finally SEM also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

SEM had positive earnings in the past year.
SEM had a positive operating cash flow in the past year.
SEM had positive earnings in each of the past 5 years.
In the past 5 years SEM always reported a positive cash flow from operatings.
SEM.LS Yearly Net Income VS EBIT VS OCF VS FCFSEM.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 200M 400M 600M

1.2 Ratios

The Return On Assets of SEM (5.15%) is better than 80.00% of its industry peers.
Looking at the Return On Equity, with a value of 16.34%, SEM is in the better half of the industry, outperforming 80.00% of the companies in the same industry.
SEM has a better Return On Invested Capital (10.15%) than 90.00% of its industry peers.
SEM had an Average Return On Invested Capital over the past 3 years of 12.13%. This is significantly above the industry average of 5.60%.
Industry RankSector Rank
ROA 5.15%
ROE 16.34%
ROIC 10.15%
ROA(3y)5.7%
ROA(5y)4.59%
ROE(3y)19.32%
ROE(5y)16.42%
ROIC(3y)12.13%
ROIC(5y)9.48%
SEM.LS Yearly ROA, ROE, ROICSEM.LS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 5 10 15 20

1.3 Margins

SEM has a better Profit Margin (9.18%) than 80.00% of its industry peers.
SEM's Profit Margin has improved in the last couple of years.
SEM has a better Operating Margin (16.37%) than 90.00% of its industry peers.
In the last couple of years the Operating Margin of SEM has grown nicely.
SEM has a better Gross Margin (42.43%) than 80.00% of its industry peers.
In the last couple of years the Gross Margin of SEM has remained more or less at the same level.
Industry RankSector Rank
OM 16.37%
PM (TTM) 9.18%
GM 42.43%
OM growth 3Y26.95%
OM growth 5Y3.66%
PM growth 3Y16.54%
PM growth 5Y8.42%
GM growth 3Y2.19%
GM growth 5Y0.3%
SEM.LS Yearly Profit, Operating, Gross MarginsSEM.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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4

2. Health

2.1 Basic Checks

SEM has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
SEM has about the same amout of shares outstanding than it did 1 year ago.
SEM has less shares outstanding than it did 5 years ago.
The debt/assets ratio for SEM has been reduced compared to a year ago.
SEM.LS Yearly Shares OutstandingSEM.LS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M
SEM.LS Yearly Total Debt VS Total AssetsSEM.LS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B 4B

2.2 Solvency

Based on the Altman-Z score of 1.56, we must say that SEM is in the distress zone and has some risk of bankruptcy.
SEM has a Altman-Z score of 1.56. This is comparable to the rest of the industry: SEM outperforms 50.00% of its industry peers.
The Debt to FCF ratio of SEM is 3.22, which is a good value as it means it would take SEM, 3.22 years of fcf income to pay off all of its debts.
SEM's Debt to FCF ratio of 3.22 is amongst the best of the industry. SEM outperforms 90.00% of its industry peers.
A Debt/Equity ratio of 0.73 indicates that SEM is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.73, SEM is in line with its industry, outperforming 50.00% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.73
Debt/FCF 3.22
Altman-Z 1.56
ROIC/WACC1.79
WACC5.67%
SEM.LS Yearly LT Debt VS Equity VS FCFSEM.LS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B

2.3 Liquidity

A Current Ratio of 0.98 indicates that SEM may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.98, SEM is doing worse than 70.00% of the companies in the same industry.
SEM has a Quick Ratio of 0.98. This is a bad value and indicates that SEM is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.67, SEM is doing worse than 70.00% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.98
Quick Ratio 0.67
SEM.LS Yearly Current Assets VS Current LiabilitesSEM.LS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B

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3

3. Growth

3.1 Past

SEM shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 6.62%.
SEM shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 13.30% yearly.
Looking at the last year, SEM shows a decrease in Revenue. The Revenue has decreased by -0.40% in the last year.
The Revenue has been growing slightly by 4.25% on average over the past years.
EPS 1Y (TTM)6.62%
EPS 3Y32.03%
EPS 5Y13.3%
EPS Q2Q%-16.96%
Revenue 1Y (TTM)-0.4%
Revenue growth 3Y13.17%
Revenue growth 5Y4.25%
Sales Q2Q%2.92%

3.2 Future

Based on estimates for the next years, SEM will show a small growth in Earnings Per Share. The EPS will grow by 2.31% on average per year.
Based on estimates for the next years, SEM will show a small growth in Revenue. The Revenue will grow by 4.58% on average per year.
EPS Next Y-7.88%
EPS Next 2Y1.18%
EPS Next 3Y3.08%
EPS Next 5Y2.31%
Revenue Next Year5.93%
Revenue Next 2Y7.17%
Revenue Next 3Y5.61%
Revenue Next 5Y4.58%

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
SEM.LS Yearly Revenue VS EstimatesSEM.LS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1B 2B 3B
SEM.LS Yearly EPS VS EstimatesSEM.LS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3

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7

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 4.79, the valuation of SEM can be described as very cheap.
Compared to the rest of the industry, the Price/Earnings ratio of SEM indicates a rather cheap valuation: SEM is cheaper than 100.00% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of SEM to the average of the S&P500 Index (28.80), we can say SEM is valued rather cheaply.
The Price/Forward Earnings ratio is 5.50, which indicates a rather cheap valuation of SEM.
Based on the Price/Forward Earnings ratio, SEM is valued cheaper than 90.00% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of SEM to the average of the S&P500 Index (21.91), we can say SEM is valued rather cheaply.
Industry RankSector Rank
PE 4.79
Fwd PE 5.5
SEM.LS Price Earnings VS Forward Price EarningsSEM.LS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Compared to the rest of the industry, the Price/Free Cash Flow ratio of SEM indicates a rather cheap valuation: SEM is cheaper than 90.00% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 2.73
EV/EBITDA N/A
SEM.LS Per share dataSEM.LS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

The excellent profitability rating of SEM may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.36
EPS Next 2Y1.18%
EPS Next 3Y3.08%

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7

5. Dividend

5.1 Amount

SEM has a Yearly Dividend Yield of 4.18%, which is a nice return.
SEM's Dividend Yield is a higher than the industry average which is at 4.34.
SEM's Dividend Yield is rather good when compared to the S&P500 average which is at 2.39.
Industry RankSector Rank
Dividend Yield 4.18%

5.2 History

The dividend of SEM has a limited annual growth rate of 3.56%.
Dividend Growth(5Y)3.56%
Div Incr Years1
Div Non Decr Years3
SEM.LS Yearly Dividends per shareSEM.LS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 0.2 0.4 0.6 0.8

5.3 Sustainability

SEM pays out 36.85% of its income as dividend. This is a sustainable payout ratio.
The dividend of SEM is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP36.85%
EPS Next 2Y1.18%
EPS Next 3Y3.08%
SEM.LS Yearly Income VS Free CF VS DividendSEM.LS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M 500M
SEM.LS Dividend Payout.SEM.LS Dividend Payout, showing the Payout Ratio.SEM.LS Dividend Payout.PayoutRetained Earnings

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SEMAPA-SOCIEDADE DE INVESTIM

ELI:SEM (3/28/2025, 2:27:52 PM)

15.52

-0.16 (-1.02%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryPaper & Forest Products
Earnings (Last)02-21 2025-02-21/amc
Earnings (Next)05-16 2025-05-16
Inst Owners7.94%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap1.26B
Analysts80
Price Target29.22 (88.27%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.18%
Yearly Dividend1.71
Dividend Growth(5Y)3.56%
DP36.85%
Div Incr Years1
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
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)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
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%
PT rev (3m)-3.05%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-11.29%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-4.93%
Valuation
Industry RankSector Rank
PE 4.79
Fwd PE 5.5
P/S 0.45
P/FCF 2.73
P/OCF 2.41
P/B 0.8
P/tB 2.8
EV/EBITDA N/A
EPS(TTM)3.24
EY20.88%
EPS(NY)2.82
Fwd EY18.19%
FCF(TTM)5.68
FCFY36.6%
OCF(TTM)6.43
OCFY41.43%
SpS34.7
BVpS19.5
TBVpS5.54
PEG (NY)N/A
PEG (5Y)0.36
Profitability
Industry RankSector Rank
ROA 5.15%
ROE 16.34%
ROCE 12.77%
ROIC 10.15%
ROICexc 10.73%
ROICexgc 16.07%
OM 16.37%
PM (TTM) 9.18%
GM 42.43%
FCFM 16.37%
ROA(3y)5.7%
ROA(5y)4.59%
ROE(3y)19.32%
ROE(5y)16.42%
ROIC(3y)12.13%
ROIC(5y)9.48%
ROICexc(3y)14.24%
ROICexc(5y)11.04%
ROICexgc(3y)20.65%
ROICexgc(5y)15.72%
ROCE(3y)15.25%
ROCE(5y)11.93%
ROICexcg growth 3Y33.2%
ROICexcg growth 5Y9.03%
ROICexc growth 3Y29.78%
ROICexc growth 5Y5.87%
OM growth 3Y26.95%
OM growth 5Y3.66%
PM growth 3Y16.54%
PM growth 5Y8.42%
GM growth 3Y2.19%
GM growth 5Y0.3%
F-Score5
Asset Turnover0.56
Health
Industry RankSector Rank
Debt/Equity 0.73
Debt/FCF 3.22
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 2.16%
Interest Coverage 250
Cash Conversion N/A
Profit Quality 178.33%
Current Ratio 0.98
Quick Ratio 0.67
Altman-Z 1.56
F-Score5
WACC5.67%
ROIC/WACC1.79
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)7.13%
Cap/Sales(5y)7.53%
Profit Quality(3y)156.77%
Profit Quality(5y)207.81%
High Growth Momentum
Growth
EPS 1Y (TTM)6.62%
EPS 3Y32.03%
EPS 5Y13.3%
EPS Q2Q%-16.96%
EPS Next Y-7.88%
EPS Next 2Y1.18%
EPS Next 3Y3.08%
EPS Next 5Y2.31%
Revenue 1Y (TTM)-0.4%
Revenue growth 3Y13.17%
Revenue growth 5Y4.25%
Sales Q2Q%2.92%
Revenue Next Year5.93%
Revenue Next 2Y7.17%
Revenue Next 3Y5.61%
Revenue Next 5Y4.58%
EBIT growth 1Y-3.69%
EBIT growth 3Y43.66%
EBIT growth 5Y8.07%
EBIT Next Year60.28%
EBIT Next 3Y13.5%
EBIT Next 5Y12.94%
FCF growth 1Y64.84%
FCF growth 3Y-11.57%
FCF growth 5Y4.47%
OCF growth 1Y28.8%
OCF growth 3Y1.9%
OCF growth 5Y3.52%