Financials Arkema

Equities

AKE

FR0010313833

Commodity Chemicals

Market Closed - Euronext Paris Other stock markets 11:35:25 2024-05-28 am EDT			5-day change	1st Jan Change
94.1 ^EUR	-0.32%		-2.79%	-8.64%

May. 14	Arkema: collaboration with ProLogium in batteries	CF
May. 14	Arkema and Prologium Engages in a Collaboration for Next Generation Lithium Ceramic Battery Materials for E-Mobility	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	7,190	7,140	9,159	6,250	7,669	7,035	-	-
Enterprise Value (EV) ¹	8,821	8,350	9,636	7,916	9,899	9,092	8,896	8,653
P/E ratio	14.8 x	23.6 x	7.27 x	6.58 x	19.2 x	12.7 x	10.5 x	9.38 x
Yield	2.85%	2.67%	2.42%	4.05%	3.4%	3.93%	4.22%	4.49%
Capitalization / Revenue	0.82 x	0.91 x	0.96 x	0.54 x	0.81 x	0.72 x	0.69 x	0.66 x
EV / Revenue	1.01 x	1.06 x	1.01 x	0.69 x	1.04 x	0.93 x	0.87 x	0.81 x
EV / EBITDA	6.05 x	7.06 x	5.58 x	3.75 x	6.59 x	5.67 x	5.11 x	4.67 x
EV / FCF	13.3 x	16.4 x	63.4 x	10 x	15.5 x	18 x	16.5 x	13.9 x
FCF Yield	7.54%	6.11%	1.58%	9.97%	6.45%	5.56%	6.06%	7.19%
Price to Book	1.37 x	1.38 x	1.45 x	0.87 x	1.08 x	0.93 x	0.89 x	0.83 x
Nbr of stocks (in thousands)	75,919	76,359	73,953	74,506	74,456	74,765	-	-
Reference price ²	94.70	93.50	123.8	83.88	103.0	94.10	94.10	94.10
Announcement Date	2/27/20	2/25/21	2/24/22	2/23/23	2/28/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	8,738	7,884	9,519	11,550	9,514	9,742	10,262	10,679
EBITDA ¹	1,457	1,182	1,727	2,110	1,501	1,602	1,742	1,852
EBIT ¹	926	619	1,184	1,560	939	984.7	1,112	1,210
Operating Margin	10.6%	7.85%	12.44%	13.51%	9.87%	10.11%	10.83%	11.33%
Earnings before Tax (EBT) ¹	688	510	1,676	1,220	602	719.1	863.2	964.6
Net income ¹	543	332	1,309	965	418	549.1	662.6	728.9
Net margin	6.21%	4.21%	13.75%	8.35%	4.39%	5.64%	6.46%	6.82%
EPS ²	6.410	3.960	17.04	12.75	5.360	7.414	8.944	10.03
Free Cash Flow ¹	665	510	152	789	638	505.9	538.6	622.1
FCF margin	7.61%	6.47%	1.6%	6.83%	6.71%	5.19%	5.25%	5.83%
FCF Conversion (EBITDA)	45.64%	43.15%	8.8%	37.39%	42.5%	31.58%	30.92%	33.59%
FCF Conversion (Net income)	122.47%	153.61%	11.61%	81.76%	152.63%	92.14%	81.3%	85.36%
Dividend per Share ²	2.700	2.500	3.000	3.400	3.500	3.697	3.968	4.228
Announcement Date	2/27/20	2/25/21	2/24/22	2/23/23	2/28/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2023 S2	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2024 S2	2025 Q1
Net sales ¹	2,398	2,500	2,887	3,184	2,972	2,507	2,524	2,442	2,326	2,222	-	2,341	2,505	4,802	2,483	2,448	4,805	2,503
EBITDA ¹	474	417	619	705	495	291	367	417	386	331	-	350	436.7	784	427.9	383.8	802	385.7
EBIT ¹	343	273	488	570	356	146	234	285	246	174	420	202	290.4	486	276.5	225.8	494	244
Operating Margin	14.3%	10.92%	16.9%	17.9%	11.98%	5.82%	9.27%	11.67%	10.58%	7.83%	-	8.63%	11.59%	10.12%	11.14%	9.22%	10.28%	9.75%
Earnings before Tax (EBT)	-	-	-	-	-	-	173	-	-	-	-	-	214	334	221	174	396	-
Net income ¹	247	112	-	401	224	11	132	152	114	20	-	79	148	259	153.5	236.5	302	-
Net margin	10.3%	4.48%	-	12.59%	7.54%	0.44%	5.23%	6.22%	4.9%	0.9%	-	3.37%	5.91%	5.39%	6.18%	9.66%	6.29%	-
EPS ²	3.160	1.570	4.260	5.400	2.860	0.1300	1.690	2.030	1.370	0.2700	-	0.9900	1.755	-	1.821	4.582	-	-
Dividend per Share ²	-	3.000	-	-	-	3.400	-	-	-	3.500	-	-	-	-	-	3.800	-	-
Announcement Date	11/10/21	2/24/22	5/5/22	7/29/22	11/10/22	2/23/23	5/5/23	7/28/23	11/9/23	2/28/24	2/28/24	5/7/24	-	-	-	-	-	-

¹EUR in Million²EUR

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	1,631	1,210	477	1,666	2,230	2,057	1,861	1,618
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.119 x	1.024 x	0.2762 x	0.7896 x	1.486 x	1.284 x	1.068 x	0.8737 x
Free Cash Flow ¹	665	510	152	789	638	506	539	622
ROE (net income / shareholders' equity)	10.6%	6.35%	22.8%	14.2%	9.01%	8.67%	9.64%	9.94%
ROA (Net income/ Total Assets)	5.15%	3.06%	11.4%	7.48%	4.66%	3.88%	4.51%	5.02%
Assets ¹	10,544	10,844	11,506	12,906	8,971	14,153	14,706	14,522
Book Value Per Share ²	68.90	67.60	85.20	96.50	95.70	101.0	106.0	113.0
Cash Flow per Share ²	17.00	14.50	12.10	19.80	17.00	17.10	18.30	20.00
Capex ¹	635	605	763	707	634	748	778	803
Capex / Sales	7.27%	7.67%	8.02%	6.12%	6.66%	7.68%	7.58%	7.52%
Announcement Date	2/27/20	2/25/21	2/24/22	2/23/23	2/28/24	-	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Arkema

Trading Rating

Investor Rating

ESG Refinitiv

C+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

94.1 EUR

Average target price

111.7 EUR

Spread / Average Target

+18.69%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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