Financials Arcadium Lithium plc

Equities

ALTM

JE00BM9HZ112

Specialty Chemicals

Real-time Estimate Cboe BZX Other stock markets 08:10:45 27/06/2024 pm IST			5-day change	1st Jan Change
3.385 ^USD	-5.45%		+1.97%	-54.97%

26/06	RBC Initiates Arcadium Lithium at Outperform With $4 Price Target	MT
26/06	RBC Capital Starts Arcadium Lithium at Outperform With AU$4 Price Target	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,248	2,756	3,939	3,564	3,235	3,849	-	-
Enterprise Value (EV) ¹	1,386	2,981	4,067	3,617	3,299	4,253	4,624	4,654
P/E ratio	25.1 x	-145 x	7,396 x	14.6 x	4.73 x	14.9 x	7.96 x	4.48 x
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	3.21 x	9.56 x	9.37 x	4.38 x	3.67 x	3.16 x	2.31 x	1.63 x
EV / Revenue	3.57 x	10.3 x	9.67 x	4.45 x	3.74 x	3.49 x	2.77 x	1.97 x
EV / EBITDA	13.9 x	134 x	58.5 x	9.86 x	6.57 x	8.27 x	5.89 x	3.76 x
EV / FCF	-11 x	-25.3 x	-38.5 x	30.7 x	-111 x	-14.4 x	-20.3 x	-338 x
FCF Yield	-9.11%	-3.95%	-2.59%	3.26%	-0.9%	-6.92%	-4.92%	-0.3%
Price to Book	2.29 x	4.87 x	5.48 x	2.78 x	0.68 x	0.58 x	0.57 x	0.57 x
Nbr of stocks (in thousands)	3,51,230	3,52,004	3,88,749	4,31,573	4,32,889	10,75,211	-	-
Reference price ²	3.554	7.830	10.13	8.259	7.473	3.580	3.580	3.580
Announcement Date	20/02/20	18/02/21	17/02/22	14/02/23	22/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	388.4	288.2	420.4	813.2	882.5	1,217	1,669	2,365
EBITDA ¹	99.8	22.3	69.5	366.7	502.5	514.5	784.7	1,236
EBIT ¹	78.9	-2.7	44.4	339	472.9	340.8	627.9	984.5
Operating Margin	20.31%	-0.94%	10.56%	41.69%	53.59%	28%	37.62%	41.62%
Earnings before Tax (EBT) ¹	57.8	-25.4	23.9	335.4	389	426.3	632.3	888.9
Net income ¹	50.2	-18.9	0.6	273.5	330.1	268	515.8	795.1
Net margin	12.92%	-6.56%	0.14%	33.63%	37.41%	22.03%	30.91%	33.61%
EPS ²	0.1413	-0.0540	0.001370	0.5652	1.580	0.2396	0.4500	0.7988
Free Cash Flow ¹	-126.2	-117.7	-105.5	117.8	-29.8	-294.3	-227.5	-13.76
FCF margin	-32.49%	-40.84%	-25.1%	14.49%	-3.38%	-24.18%	-13.63%	-0.58%
FCF Conversion (EBITDA)	-	-	-	32.12%	-	-	-	-
FCF Conversion (Net income)	-	-	-	43.07%	-	-	-	-
Dividend per Share ²	-	-	-	-	-	-	-	-
Announcement Date	20/02/20	18/02/21	17/02/22	14/02/23	22/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2024 S2	2025 Q1	2025 Q2
Net sales ¹	122.9	143.5	218.7	231.6	219.4	253.5	235.8	211.4	181.8	261.2	258.6	287.4	312.1	-	345.8	376.8
EBITDA ¹	27.5	53.3	95	110.8	107.6	157.4	134.5	119.7	90.9	108.8	104.6	125.5	143.4	-	162.5	175.6
EBIT ¹	21.1	46.9	88.6	104.2	99.3	150.6	127.5	112	82.8	91.6	82.06	92.55	106.2	-	114.7	131.2
Operating Margin	17.17%	32.68%	40.51%	44.99%	45.26%	59.41%	54.07%	52.98%	45.54%	35.07%	31.73%	32.2%	34.02%	-	33.17%	34.83%
Earnings before Tax (EBT) ¹	17	57.9	90.2	99.1	88.2	138.7	104.8	96.7	48.8	73.7	85.37	100.6	125.1	182	135	160
Net income ¹	7.5	53.2	60	77.6	82.7	114.8	90.2	87.4	37.7	15.6	64.92	78.72	97.6	-	93.05	107.8
Net margin	6.1%	37.07%	27.43%	33.51%	37.69%	45.29%	38.25%	41.34%	20.74%	5.97%	25.1%	27.39%	31.27%	-	26.91%	28.6%
EPS ²	0.0166	0.1164	0.1288	0.1538	0.1621	0.2286	0.1787	0.1746	0.1800	0.0100	0.0532	0.0657	0.0817	-	0.0750	0.0850
Dividend per Share ²	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	17/02/22	03/05/22	02/08/22	01/11/22	14/02/23	02/05/23	03/08/23	31/10/23	22/02/24	07/05/24	-	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	138	225	127	52.9	64.4	404	775	805
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.381 x	10.09 x	1.833 x	0.1443 x	0.1282 x	0.7846 x	0.9872 x	0.651 x
Free Cash Flow ¹	-126	-118	-106	118	-29.8	-294	-228	-13.8
ROE (net income / shareholders' equity)	9.71%	-2.65%	4.87%	24.4%	17.7%	3.5%	6.76%	9.27%
ROA (Net income/ Total Assets)	6.62%	-2.1%	0.06%	16.7%	12.4%	3.18%	5.43%	7.05%
Assets ¹	757.9	898.2	1,070	1,638	2,652	8,429	9,500	11,280
Book Value Per Share ²	1.550	1.610	1.850	2.970	10.90	6.150	6.320	6.300
Cash Flow per Share ²	0.1600	0.0200	0.0600	0.9400	1.420	0.2400	0.4400	0.5700
Capex ¹	189	124	132	337	327	618	675	587
Capex / Sales	48.66%	43.03%	31.37%	41.43%	37.07%	50.79%	40.47%	24.8%
Announcement Date	20/02/20	18/02/21	17/02/22	14/02/23	22/02/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Arcadium Lithium plc

Trading Rating

Investor Rating

ESG Refinitiv

B+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3.58 USD

Average target price

7.568 USD

Spread / Average Target

+111.39%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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