Added to YB: 2024-11-05
Pitch date: 2024-11-04
OCI.AS [bullish]
OCI N.V.
+2.36%
current return
Author Info
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Company Info
OCI N.V. produces and distributes hydrogen-based and natural gas-based products to agricultural, transportation, and industrial customers.
Market Cap
EUR 2.5B
Pitch Price
EUR 10.79
Price Target
14.75 (+33%)
Dividend
15.66%
Sector
Chemicals
Category
value
OCI N.V.: A Deep Value Play with Hard Asset Backing and Net Cash
OCI.AS: Trading at €11 vs €13/share net cash post €14.75 special dividend. Negative EV of -€842m backed by 13% MEOH stake, Rotterdam ammonia terminal, €3.5bn replacement cost Euro nitrogen biz (€255m midcycle earnings). -0.24x EV/replacement cost. Concerns: Dutch tax, potential M&A strategy.
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