Axalta Coating Systems Ltd

STU : 9AX
USA·Basic Materials·Chemicals
€26.80
−0.40 (−1.47%)latest daily quote
Market Cap
€5.72B
Enterprise Value
€7.97B
P/E (TTM)
18.05
P/B
2.86
Net Cash / (Debt)
−€2.20B
52-Week Range
€22 — €30
5-Year Range
€20 — €39
Avg Volume (3M)
503
ListingsSTULTSNYSE

Axalta makes and sells paints and coatings across two main businesses. The larger segment, Mobility Coatings, sells coatings directly to car and commercial vehicle manufacturers (OEMs) for use in their factories. The smaller Performance Coatings segment sells to auto body repair shops (refinish) and industrial customers like manufacturers of pipelines, appliances, and architectural components. Revenue comes from product sales; the refinish and industrial side serves a fragmented base of smaller, local buyers, while the OEM side involves direct relationships with large vehicle makers. EMEA is the largest geographic market.

Employees12,300IPOApr 23, 2015SIC2992HQ1050 Constitution Avenue, Philadelphia, PA, USA, 19112
to

Financials (EUR)

Profitability

Metric
Current
Margins
Gross Margin
34.4%
Operating Margin
14.4%
EBITDA Margin
19.9%
Net Margin
7.4%
OCF Margin
12.5%
FCF Margin
8.6%
Returns on Capital
ROE
17.4%
ROA
5.0%
ROIC
8.9%
ROCE
11.7%
ROC (Greenblatt)
36.6%
3Y ROIIC
34.4%
Consistency
Years Profitable / 10Y
10

Valuation

Metric
Current
Earnings Multiples
P/E (TTM)
18.05
Forward P/E
12.12
P/E ex-NRI
12.61
Shiller P/E (CAPE)
29.55
Cash Flow Multiples
P/FCF
14.92
P/OCF
10.44
P/Owner Earnings
14.59
FCF Yield
6.77%
Enterprise Value Multiples
EV / EBIT
13.00
EV / Forward EBIT
9.83
EV / EBITDA
9.23
EV / Forward EBITDA
7.75
EV / Revenue
1.83
EV / Forward Revenue
1.78
Asset / Sales
P/S
1.33
P/B
2.86
P/Tangible Book
—
Growth-Adjusted
PEG
1.01

Capital Returns

Metric
Current
Dividends
Dividend Yield (TTM)
0.00%
Forward Dividend Yield
0.00%
3Y Dividend Growth
0.0%
Payout Ratio
0.00
5Y Yield on Cost
0.00%
Buybacks & Dilution
3Y Buyback Ratio
1.10%
5Y Share Change
−8.1%
Combined
Shareholder Yield
4.49%

Balance Sheet

Metric
Current
Leverage
Debt / Equity
1.38
Gross Debt / EBITDA
3.18
Cash / Debt
0.20
Equity / Assets
0.31
Coverage
Interest Coverage
4.18
Short-Term Liquidity
Current Ratio
2.06
Quick Ratio
1.50
Cash Ratio
0.48
Composite Scores
Piotroski F-Score
7
Altman Z-Score
2.37

5-Step DuPont Analysis

ROE %
17.29%
Net Margin %
7.40%
Operating Margin %
14.35%
Operating Income
€642M
÷
Revenue
€4.47B
×
Tax Burden
0.6939
Net Income
€331M
÷
Pretax Income
€477M
×
Interest Burden
0.7430
Pretax Income
€477M
÷
Operating Income
€642M
×
Asset Turnover
0.67
Revenue
€4.47B
÷
Average Total Assets
€6.71B
Begin Total Assets
€6.92B
End Total Assets
€6.49B
×
Equity Multiplier
3.50
Avg Total Assets
€6.71B
÷
Avg Stockholders Equity
€1.91B
Begin Equity
€1.83B
End Equity
€2.00B