Unilever is a global consumer products conglomerate, owning more than 400 brands world wide! 14 of these brands have sales of more than one billion USD. The brands vary from toothpaste, soap, tea and ice cream, to foods and house care products.

Unilever is listed in London (LON:ULVR) and Amsterdam (AMS:UNA), as well as two ADR’s in the US, one for the London one (NYSE:UL) and one for the Amsterdam listing (NYSE:UN)

Since this is just a quick look, I’ll only conclude a Pitroski F-Score and look at the dividend history.

Net Income > 0 (1p)
Cash Flow From Operations > 0 (1p)
Higher ROA Than Previous Period (0p)
Cash Flow From Operations > Income after tax (1p)
Decline in Long Term Debt (0p)
Higher Current Ratio Than Previous Period (0p)
No New Shares Issued (1p)
Higher Gross Margin Than Previous Year (1p)
Higher Asset Turnover Than Previous Year (0p)

Total (5p)
Max (9p)

Unilever got 5 out of 9 possible. I would have liked to see a decline in debt and improving current ratio. I like that they have not issued new shares (No of shared decreased 2013-2014).

Unilever (NYSE:UL) Quarterly Dividend History from Q4 2009, USD.

Dividends have been lowered, but the general trend is upward. However, the payout ratio 2014 was almost 70%. 2015 it was a bit below 60%, which is quite high in my opinion.

As of now (06-01-2016) P/E is 23 and the Yield is 3.14 %. Unilever is not cheap, and it is quite an average company according to the F-Score. also the payout ratio is high.

I will probably do a more in depth analysis at a later point, perhaps after the 2015 annual report is out. I currently own 15 shares of Unilever (NYSE:UL). But I want to see a lower price before increasing my amount of shares.

The price at which the yield is 4% is 33 USD and the price at P/E 15 is 27.60 USD

That concludes this quick look at Unilever. I liked doing this and it gives a little better understanding of how Unilever is doing, but it leads me to fell the requirement of an in depth analysis.


Remember, I am no adviser, always do your own research and do not make any decisions based on what I write!

One thought on “Unilever

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