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Sika AG SIKA

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Stock XSWX Rating as of
CHF 183.80 +4.65 (2.60%)
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Sika Continues to Illustrate its Narrow Moat Through Strong Pricing Power

Matthew Donen

Sika is the market leader in the highly fragmented construction chemicals sector. Established in 1910 following the invention of a waterproofing admixture for mortar, regular product innovations through formulation inventions and adaptations for local markets have been a constant theme for the business, justifying annual price increases. Approximately 25% of Sika’s sales are generated from products released in the previous five years.

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Price vs Fair Value

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SIKA is trading at a LOCK|GSG#tX premium.
Price
CHF 183.80
Fair Value
LOCK|pT
Uncertainty
LOCK|cd^S
1-Star Price
LOCK|v.LsN
5-Star Price
LOCK|%.!
Economic Moat
LOCK|gFsgg
Capital Allocation
LOCK|&B$>SW$

Bulls Say, Bears Say

Bulls

Sika’s products exhibit sustainability features, benefiting from several structural growth drivers, such as decarbonizing cement production and renovation activity to improve energy efficiency

Bears

Demand is tied to the cyclical construction and automotive sectors, which have led Sika to lower its medium-term revenue targets. A declining Chinese residential market shows no signs of recovering in the short term. Margins are also likely to be affected by higher oil prices.

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Trading Information

Previous Close Price
CHF 179.15
Day Range
CHF 179.70–183.95
52-Week Range
CHF 120.35–197.60
Bid/Ask
CHF 181.00 / CHF 0.00
Shares Outstanding
160.44M
Market Cap
CHF 29.49B
Volume/Avg
366,761 / 399,517

Key Statistics

Price/Earnings (Normalized)
25.61
Price/Sales
2.59
Dividend Yield (Trailing)
2.01%
Dividend Yield (Forward)
2.01%
Dividend Payment Schedule
Mar
Total Yield
2.03%

Company Profile

Established in 1910, Sika produces specialty chemicals primarily used by the construction sector (85% of sales). Its products are mainly used for bonding, sealing, reinforcing, and protecting in the construction and automotive industries. Approximately 70% of its products have a positive impact on sustainability for customers. Sika has a global manufacturing footprint of more than 400 factories spread across over 100 countries.
Sector
Basic Materials
Industry
Specialty Chemicals
Stock Style Box
Large Core
Total Number of Employees
34,564
Website
https://www.sika.com

Competitors

Valuation

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Metric
SIKA
AMRZ
HOLN
Price/Earnings (Normalized)
 25.6116.0319.69
Price/Book Value
 4.221.592.26
Price/Sales
 2.591.692.27
Price/Cash Flow
 19.088.3111.55
Price/Earnings
SIKA
AMRZ
HOLN

Financial Strength

Metric
SIKA
AMRZ
HOLN
Quick Ratio
 0.910.670.74
Current Ratio
 1.301.101.09
Interest Coverage
 9.835.563.39
Quick Ratio
SIKA
AMRZ
HOLN

Profitability

Metric
SIKA
AMRZ
HOLN
Return on Assets (Normalized)
 6.87%5.09%5.67%
Return on Equity (Normalized)
 16.28%9.54%12.73%
Return on Invested Capital (Normalized)
 9.38%7.53%8.33%
Return on Assets
SIKA
AMRZ
HOLN

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