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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Investoren in RATIONAL Aktiengesellschaft (ETR:RAA) hatten eine gute Woche, da ihre Aktien um 5,9% auf €660 anstiegen, nachdem die Quartalszahlen veröffentlicht wurden. Es war ein ordnungsgemäßes Ergebnis, mit Umsätzen von €318m, die 2,4% über Erwartungen lagen und mit einem Statutargewinn pro Aktie von €5,21, der mit den Analystenbewertungen übereinstimmte. Earnings sind für Investoren wichtig, da sie eine Firma bewerten können, ihre Leistung analysieren und sehen können, ob sich die Meinung der Analysten geändert hat. |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
It looks like RATIONAL Aktiengesellschaft (ETR:RAA) is about to go ex-dividend in the next three days. Typically, the ex-dividend date is two business days before the record date, which is the date on which a company determines the shareholders eligible to receive a dividend. It is important to be aware of the ex-dividend date because any trade on the stock needs to have been settled on or before the record date. In other words, investors can purchase RATIONAL's shares before the 30th of April in order to be eligible for the dividend, which will be paid on the 5th of May.
The company's next dividend payment will be €20.00 per share, on the back of last year when the company paid a total of €16.00 to shareholders. Looking at the last 12 months of distributions, RATIONAL has a trailing yield of approximately 2.4% on its current stock price of €658.00. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid. That's why we should always check whether the dividend payments appear sustainable, and if the company is growing.
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Dividends are typically paid out of company income, so if a company pays out more than it earned, its dividend is usually at a higher risk of being cut. RATIONAL paid out 72% of its earnings to investors last year, a normal payout level for most businesses. A useful secondary check can be to evaluate whether RATIONAL generated enough free cash flow to afford its dividend. It paid out 78% of its free cash flow as dividends, which is within usual limits but will limit the company's ability to lift the dividend if there's no growth.
It's encouraging to see that the dividend is covered by both profit and cash flow. This generally suggests the dividend is sustainable, as long as earnings don't drop precipitously.
See our latest analysis for RATIONAL
Click here to see the company's payout ratio, plus analyst estimates of its future dividends.XTRA:RAA Historic Dividend April 26th 2026
Have Earnings And Dividends Been Growing?
Stocks in companies that generate sustainable earnings growth often make the best dividend prospects, as it is easier to lift the dividend when earnings are rising. If earnings fall far enough, the company could be forced to cut its dividend. It's encouraging to see RATIONAL has grown its earnings rapidly, up 26% a year for the past five years.
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Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. In the last 10 years, RATIONAL has lifted its dividend by approximately 7.9% a year on average. We're glad to see dividends rising alongside earnings over a number of years, which may be a sign the company intends to share the growth with shareholders.
To Sum It Up
Is RATIONAL worth buying for its dividend? Higher earnings per share generally lead to higher dividends from dividend-paying stocks over the long run. However, we'd also note that RATIONAL is paying out more than half of its earnings and cash flow as profits, which could limit the dividend growth if earnings growth slows. Overall, it's not a bad combination, but we feel that there are likely more attractive dividend prospects out there.
In light of that, while RATIONAL has an appealing dividend, it's worth knowing the risks involved with this stock. Our analysis shows 1 warning sign for RATIONAL and you should be aware of this before buying any shares.
Generally, we wouldn't recommend just buying the first dividend stock you see. Here's a curated list of interesting stocks that are strong dividend payers.
Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
This article first appeared on GuruFocus.
Revenue: EUR 1.26 billion, a 6% increase from the previous year. Currency-Adjusted Sales Growth: 8% increase. Q4 Revenue: EUR 341 million, a 7% increase; 11% growth adjusted for currency effects. EBIT: EUR 333 million, a 6% increase, with an EBIT margin slightly above the previous year. Gross Margin: 59%, slightly below the previous year's figure by 0.2 percentage points. Operating Costs: Increased by 7%, with R&D costs up by 15% and sales costs up by 8%. Equity Ratio: Increased to 80% from 77% in the previous year. Cash and Cash Equivalents: Just under EUR 540 million, with a liquidity ratio of 46%. CapEx: EUR 34 million, primarily for construction projects. Dividend Proposal: Regular dividend of EUR 16 plus a special dividend of EUR 4 per share, representing a payout ratio of 90%. Sales by Region: Europe (excluding Germany) and North America accounted for 67% of sales, with growth of 9% and 8% respectively. Sales by Product Group: iVario sales grew by 10%, iCombi by 5%. Sales Decline in Asia: 11% decline, primarily due to reduced sales with a major Chinese chain account and a Japanese OEM partner.
Warning! GuruFocus has detected 4 Warning Signs with OONEF. Is RATIY fairly valued? Test your thesis with our free DCF calculator.
Release Date: March 19, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
Rational AG (RATIY) achieved a new sales record of EUR1.26 billion, marking a 6% increase from the previous year. The company reported a new all-time high EBIT of EUR333 million, maintaining a stable EBIT margin slightly above the previous year's figures. Rational AG (RATIY) successfully expanded its sales force, hiring 102 new employees, with 80% located in sales organizations, contributing to its growth. The company demonstrated significant energy and water savings in a customer kitchen study, highlighting its commitment to sustainability. Rational AG (RATIY) launched the iCombi One tailored for the Chinese market, receiving positive feedback from dealers and key accounts.
Negative Points
The company faced a sales decline of 11% in the Asian region, primarily due to reduced sales with a major Chinese chain account and a Japanese OEM partner. Rational AG (RATIY) is dealing with the impact of U.S. tariffs, which have affected its gross margins and remain a challenge for cost predictions. The geopolitical situation, including the Iran war, poses risks of higher energy costs and material prices, impacting the company's cost structure. Currency fluctuations, particularly in North and South American markets, have negatively affected sales growth. The company anticipates a slight decrease in gross margin for 2026 due to rising raw material and logistics prices, as well as ongoing tariff uncertainties.
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Q & A Highlights
Q: How does the removal of U.S. tariffs affect your pricing decisions, competitive positioning, and expected fiscal year '26 growth? Have you seen any pricing moves from competitors? A: Tariffs have not been completely removed; we still face temporary tariffs of 10% and 50% on stainless steel. We do not plan any price changes and have not observed competitor moves. Our late price increase in early '26 has improved our competitive position. - Peter Stadelmann, CEO
Q: Were tariffs the major reason for lower gross margins in 2025, and what tariff levels do you expect for 2026? How much of the 2025 tariff could be refunded? A: Tariffs significantly impacted the lower gross margin in 2025, but we offset this with lower raw material and logistics costs. We aim to claim a refund of up to USD 15 million, though the outcome and timing are uncertain. - Peter Stadelmann, CEO
Q: Could you outline the commercial and production ramp-up of the iCombi One in China, including customer reception and strategic fit? A: The iCombi One was launched recently with positive feedback from dealers and key accounts. We do not expect margin dilution from this product, which is tailored for Chinese meals. - Peter Stadelmann, CEO
Q: Can you explain the performance or order activity for the iHexagon and its market potential since launch? A: We see good growth from a low base, focusing on awareness and expanding into more countries. The iHexagon is gaining traction among customers needing high-speed, high-volume solutions. - Peter Stadelmann, CEO
Q: What are the effects of increasing energy costs for you and your customers, including potential impacts from the Iran war? A: Energy costs are a concern, but our efficient cooking solutions help customers reduce costs. For us, energy costs are manageable, with a fixed quarterly contract and a total of EUR 3 million in energy expenses. - Jorg Walter, CFO
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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